Japanese E-Commerce Giant Rakuten Reports 15.2% Boost in Annual Revenues

Major growth in the group’s business, which spans e-commerce, payments, insurance and more, was driven by accelerated digitisation in Japan’s online shopping space during its financial year ending December 31, 2020.

Total revenues hit 1,455,538 million yen ($13.8 billion), whereas domestic e-commerce revenues grew 35.1 percent year-on-year. The group’s top-performing e-commerce marketplace Rakuten Ichiba exceeded 3 trillion yen in gross merchandising volume for the first time, which it attributed to improved logistics.