Rakuten Securities reports 20.4% rise of operating revenue for fiscal year 2016

Rakuten Securities reports 20.4% rise of operating revenue for fiscal year 2016

The Japanese forex broker Rakuten Securities, a consolidated subsidiary of the internet conglomerate Rakuten Inc. released its financial results for the fiscal year that ended on March 31, 2016.

According to the report, the broker’s operating revenue exceeded JPY 55 billion and is 20.4% higher, compared to the preceding financial year. The consolidated net income of the broker for the period reached almost JPY 15.3 billion and rose 18.6%, compared to the financial year that ended on March 31, 2015.

As of the end of March this year Rakuten Securities had total assets amounting to almost JPY 873 billion, compared to JPY 775 billion in the previous financial year. The broker’s liabilities, however, also rose – from JPY 722 billion to JPY 792.4 billion.

The annual report of Rakuten Securities also includes the results of FXCM Japan Securities Co. from April 1 to July 31, 2015 – the period in which the latter was a consolidated subsidiary of the former. As of August 1, 2015 Rakuten Securities became the surviving company under an absorption-type merger.

The Rakuten Securities also includes the results of FXCM Asia Limited, which was acquired in early September 2015. Henceforth, the financial statements of FXCM Asia were included since the second quarter that ended in September 2015.

Previously Rakuten Inc. reported that its forex brokerage had a revenue of almost JPY 50.4 billion for the calendar 2015.

Earlier this week another Japanese forex broker – Money Partners Group reported that its net revenue for the financial year that ended on March 31 this year rose 14.5%.

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