Rakuten Securities Announces Impressive Financial Results for 2020
By Ali Raza January 27, 2021, 1:48 pm • Posted in Forex
apan’s leading foreign exchange broker Rakuten Securities Inc. announced improved performance in financial results for the year ending December 2021. According to the announcement, the operating revenue grew by 30% to ¥72 billion ($698 million) for 2020.
Other attributes also yielded positive returns, including the company’s net income. In 2020, the broker’s net income increased by 33% to ¥15 billion ($145 million), which is an indication of the broker’s overall improved performance.
Assets of the Tokyo-based firm are also appreciated following its increased revenue. It went up by a third, ending the year with ¥2.4 trillion ($23 billion).
However, Rakuten Securities was not the only e-broker that gained from the market last year. The market appreciated during the COVID-19 period when several governments asked workers to work from home.
The order drove lots of young investors to open new accounts. As a result of the boom in retail trading, Rakuten’s subsidiaries in several markets expanded their user base in 2020.
Rakuten also has established a presence in Malaysia and Australia through a joint venture business with Kenanga Investment Bank.
The partnership enables the firm to operate retail foreign exchange businesses in the countries. When it comes to online retail business, parent company Rakuten Group is up there as one of the largest. The retail giant is the fourth largest in the world, only trailing Jack Ma’s Alibaba, eBay, and Jeff Bezos’s Amazon.
The company expanded to Hong Kong after the successful acquisition of one of FXCM’s former businesses five years ago.
fxdailyreport.com/...s-impressive-financial-results-for-2020/
By Ali Raza January 27, 2021, 1:48 pm • Posted in Forex
apan’s leading foreign exchange broker Rakuten Securities Inc. announced improved performance in financial results for the year ending December 2021. According to the announcement, the operating revenue grew by 30% to ¥72 billion ($698 million) for 2020.
Other attributes also yielded positive returns, including the company’s net income. In 2020, the broker’s net income increased by 33% to ¥15 billion ($145 million), which is an indication of the broker’s overall improved performance.
Assets of the Tokyo-based firm are also appreciated following its increased revenue. It went up by a third, ending the year with ¥2.4 trillion ($23 billion).
However, Rakuten Securities was not the only e-broker that gained from the market last year. The market appreciated during the COVID-19 period when several governments asked workers to work from home.
The order drove lots of young investors to open new accounts. As a result of the boom in retail trading, Rakuten’s subsidiaries in several markets expanded their user base in 2020.
Rakuten also has established a presence in Malaysia and Australia through a joint venture business with Kenanga Investment Bank.
The partnership enables the firm to operate retail foreign exchange businesses in the countries. When it comes to online retail business, parent company Rakuten Group is up there as one of the largest. The retail giant is the fourth largest in the world, only trailing Jack Ma’s Alibaba, eBay, and Jeff Bezos’s Amazon.
The company expanded to Hong Kong after the successful acquisition of one of FXCM’s former businesses five years ago.
fxdailyreport.com/...s-impressive-financial-results-for-2020/