Rakuten Securities Inc, one of the largest foreign exchange brokers in Japan, has reported its financial results for the fiscal third quarter ending December 31, 2017, which were characterised by upbeat revenues and profits, according to a Rakuten statement.
Rakuten Securities yielded an operating income of ¥40,452 million ($371.2 million) during the Q3 2017, a gain of 15.9 percent from ¥34,894 million ($320.2 million) in the year earlier.
The same narrative was noted across the profit attributable to owners of the parent company (net income), with the figure coming in at ¥9,933 million ($91.2 million) which is higher by 2.8 percent compared to its Q3 2016’s equivalent.
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In terms of overall assets, the Tokyo-headquartered brokerage currently holds ¥1,678 billion ($15.40 billion), an increase of more than 60 percent from ¥991 billion at the end of the previous fiscal year.
Rakuten Securities is one of the largest Japanese FX brokers, and operates regional businesses including in Hong Kong, following an acquisition of one of FXCM’s prior businesses three years ago.
Finance Magnates last reported on Rakuten Securities earlier this month after the company launched a retail foreign exchange brand in Australia.
RSI’s entry into Australia is both a business and strategic decision. As further elaborated by RSI President Yuji Kusunoki: “We see Australia as a strategic growth opportunity as we bring Rakuten’s technology and expertise into this market. Innovation and empowerment of individuals through the use of cutting edge technology and entrepreneurship are core to our mission at Rakuten and we believe this is a key differentiator for our customers globally.”