Rakuten Securities, a subsidiary of the Rakuten Group, has released its financial report for the first quarter of 2023, which shows a rise in net income.
In the first quarter, the company's net income increased 123% year-on-year to more than 3.8 billion yen.
According to data published on the Finance Magnates website, annualized operating income for the period was 24.6 billion yen. At the same time, net revenues increased 5% to 23.3 billion yen.
Rakuten Securities' operating profit for the first quarter was 5.9 billion yen, while revenue rose 68% to 5.7 billion yen.
Rakuten Securities is regulated by ASIC and prioritizes the security of client accounts. The broker exceeds the regulations set by the Australian Securities and Investments Commission on many requirements. It is worth noting that the support service is available in English, which indicates the company's focus on Western and European investors.
It is worth noting that earlier the broker warned its users about the increasing incidence of fraud with the company's logo, name and data.