TOKYO—Rakuten Inc., Japan’s largest e-commerce company, said Thursday that its full-year net income grew at a double-digit clip on increased sales, lower income tax expenses, and foreign currency translation adjustments.
Net profit for the twelve months ended Dec. 31. shot up 64.6 percent to 70.61 billion yen, or $670.83 million at average exchange rates for the period.
Operating income rose 17.9 percent to 106.4 billion yen, or $1.01 billion. Revenue grew by 15.4 percent to 598.57 billion yen, or $5.69 billion.
The majority of Rakuten’s business comes from Japan, but the company has stepped up its international presence in the past year with the acquisitions of Viber last March and Ebates in October.
Rakuten did not release earnings forecasts for the current fiscal year, ending Dec. 31.
Rakuten’s internet services segment, which includes its e-commerce activities in Japan and abroad, posted a revenue increase of 15.1 percent for a total of 362.75 billion yen, or $3.45 billion. Its internet finance segment saw its revenue increase by 17.4 percent to 236.52 billion yen, or $2.25 billion.