Japanese Web Firm Reports Profits Slide

19 February 2007

TOKYO: Internet shopping portal Rakuten has reported its first drop in operating profits, the result of divestment of an automobile loan division and reform of a web operating system.

The Japanese firm saw consolidated operating profit in 2006 fall 16% year-on-year to ¥29.1 billion ($243m; €185m; £124m), despite record sales of ¥203.2bn, a rise of 56%. Revenue from its Rakuten Ichiba online shopping mall climbed 50% from a year earlier.

Data sourced from Asahi Shimbun Online; additional content by WARC staff