TOKYO – Rakuten said Thursday its first-half net income declined 4.3 percent versus the same prior-year period, while its operating income fell 11.8 percent, due largely to increased expenses stemming from “aggressive sales activities and the deteriorating stock market.”

In the six months ended June 30, Japan’s largest e-commerce company registered net income of 26.57 billion yen, or $238.1 million, while operating income was 48.78 billion yen, or $437.1 million.

The company’s sales grew by 11.1 percent to 368.91 billion yen, or $3.31 billion.

Dollar figures are calculated at average exchange for the period to which they refer.

“In domestic e-commerce services, the mainstay of [the] Internet services [business], the Rakuten Group is making every effort toward further revenue growth by implementing various measures. These include programs with the aim of improving customer satisfaction, aggressive sales activities, and strategies to enhance services for smart devices (smartphones and tablet devices) and to open up the Rakuten ecosystem,” the company said in a statement.

“Results are on track for improvement in overseas Internet services, thanks in large part to a contribution from the steady growth in the U.S. subsidiary Ebates Inc.,” Rakuten continued.

The company expects its consolidated revenue to achieve double-digit growth for full-year 2016 versus 2015.