By  on February 13, 2017

TOKYO—Japanese e-commerce giant Rakuten said Monday that its full-year net profit fell on a variety of factors including higher expenses due to aggressive sales activities and the absense of unrealized gains on stocks in the previous year.

Net income for the twelve months ended Dec. 31, 2016 fell 14.5 percent to 38 billion yen, or $350.3 million, at average exchange rates for the period. Rakuten’s operating profit declined by 17.6 percent to 77.98 billion yen, or $718.9 million. Japan’s largest e-commerce operator said sales grew 9.6 percent to 781.92 billion yen, or $7.21 billion.

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