In FY2021, the FinTech segment recorded revenue of 619 billion yen, up +7.4% YoY, and segment profit of 89.1 billion yen, up +9.6% YoY, achieving both increased revenue and profit. The steady expansion of the customer base and the increasing adoption of each service as a main service by customers have contributed to this success. The combined customer base of Rakuten Card, Rakuten Bank and Rakuten Securities grew +89.4% YoY, and cross-use between fintech services continues to increase.
In December 2021, Rakuten Card surpassed 25 million cards issued. In addition to this, a recovery in offline consumption led to shopping gross transaction value (GTV) of 14.5 trillion yen in FY2021, up +25.3% YoY. Rakuten Card outperformed the industry, maintaining a high growth rate while total industry GTV growth was sluggish due to the pandemic.
In January 2022, Rakuten Bank surpassed 12 million customer accounts, the largest number among online banks in Japan, and its total balance of deposits (non-consolidated) surpassed seven trillion yen as of the end of December 2021. In Q4 FY2021, the number of payroll accounts increased +55.4% YoY, the number of transactions increased +17.4% YoY, and more customers are using Rakuten Bank as their main bank account for daily life.
Rakuten Securities surpassed seven million general securities customer accounts in December 2021, an increase of two million accounts over the last year, when the number of accounts surpassed five million. Since 2018, Rakuten Securities has held the record for the highest number of new account openings in the industry for three consecutive years. Money Bridge, the service linking Rakuten Securities and Rakuten Bank accounts, surpassed three million accounts and four trillion yen in total balance of deposits in December 2021.
In the Insurance business, annualized insurance premiums of new policies increased steadily in FY2021, with new sales of life insurance increasing +15.8% YoY8 and new sales of general insurance increasing +26.8% YoY9. Online sales in particular drove growth, as online applications for Rakuten General Insurance’s automobile insurance increased 2.4 times YoY.
In the Payment business, which includes Rakuten Pay, revenue increased +19.8% YoY. Operating losses improved by 2.6 billion yen on the previous year at the same time as rollout of proactive marketing activities, including campaign support for new merchant signups for small and medium-size businesses impacted by the pandemic that made payment fees effectively free for one year.
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