Rakuten Securities, one of the leading brokers in Japan, announced its financial results today for the three months ended 31 March 2021. The broker reported 3.57 billion yen in net income in the last quarter, compared to 2.68 billion yen for the same period last year.
According to the official announcement, Rakuten Securities recorded net operating revenue of 22.5 billion yen in the last three months, compared to 16.7 billion for the three months ended 31 March 2020.
The Japanese firm reported an operating income of 5.6 billion yen in the last quarter, compared to 3.8 billion a year ago.
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Commenting on the accounting standards, the broker said: “The financial reports of Rakuten Securities, Inc. are based on ‘Uniform Accounting Standards for Securities Companies’ (set by the Board of Directors of the Japan Securities Dealers Association, November 14, 1974). Commodity futures transactions are based on ‘Uniform Accounting Standards for Commodity Futures Transactions’ (set by the Board of Directors of the Commodity Futures Association of Japan, March 3, 1993).”
In March 2020, Rakuten Wallet, the crypto wallet and exchange platform of the Japanese financial services giant, expanded its support for cryptocurrencies with the inclusion of Litecoin (LTC).
In addition to a jump in quarterly financial results, the Japanese broker saw significant growth in results for the 12 months ended 31 March 2021. Rakuten Securities reported net operating revenue of approximately 75 billion yen for the 12 months ended 31 March 2021, which is a significant jump compared to 58 billion yen a year ago. For the last 12 months, the Japanese financial services provider reported a net income of 9.5 billion yen, compared to 7 billion yen in the 12 months ended 31 March 2020.
In May 2020, Rakuten Securities selected NICE Actimize, a leading London-based provider of financial crime, risk and compliance solutions for regional and global financial institutions, to implement an anti-money laundering compliance platform to protect and support its clients and meet regulatory requirements. The broker reported strong financial results in FY 2020.