In fiscal year 2023, the annual revenue of the Rakuten Group amounted to around 2.1trillion Japanese yen, exceeding two trillion yen for the first time in the last decade. Rakuten is the leading mail-order and e-commerce retailer in Japan, outperforming major competitors like Yahoo and Amazon Japan.
From a domestic marketplace to the global landscape
Founded as MDM, Inc., the Rakuten Group launched its small-scale online shopping marketplace, Rakuten Ichiba, in 1997. Following the rebranding to Rakuten, Inc., the e-commerce company expanded its business portfolio to include communication and sports management services, and financial technology-related services, among others. Nonetheless, the domestic e-commerce segment remained Rakuten Group’s main revenue source.
With the acquisition of businesses overseas, Rakuten expanded its brand outside of Japan, establishing itself as one of the most valuable Japanese brands on the global market.
E-commerce in Japan
E-commerce is one of the fastest developing markets in Japan, with the business-to-consumer (B2C) e-commerce market growing more than double in size in the last decade. Home appliances and foodstuffs were the most common goods and services ordered by Japanese consumers over the internet.
As consumer interest in groceries ordered over the internet grew, large store-retailers like Aeon and Ito-Yokado entered the online marketplace. Rakuten joined the competition with the joint venture Rakuten Seiyu to expand its business in to the online food retail segment.
Annual net revenue of the Rakuten Group from fiscal year 2014 to 2023
(in billion Japanese yen)
fiscal years 2014 to 2023; the company's fiscal year ended on December 31 of the stated year
Special properties
consolidated figures based on IFRS reporting
Supplementary notes
The company adopted IFRS 17 in the fiscal year 2023. As such, figures for the accounting period of fiscal 2022 has been adjusted retrospectively to reflect these changes.
Data prior to fiscal year 2022 comes from previous reporting.
100 Japanese yen equal 0.67 U.S. dollars or 0.61 euros as of March 2024.
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Rakuten. (February 14, 2024). Annual net revenue of the Rakuten Group from fiscal year 2014 to 2023 (in billion Japanese yen) [Graph]. In Statista. Retrieved October 07, 2024, from https://www.statista.com/statistics/223327/consolidated-sales-of-the-rakuten-group-since-2007/
Rakuten. "Annual net revenue of the Rakuten Group from fiscal year 2014 to 2023 (in billion Japanese yen)." Chart. February 14, 2024. Statista. Accessed October 07, 2024. https://www.statista.com/statistics/223327/consolidated-sales-of-the-rakuten-group-since-2007/
Rakuten. (2024). Annual net revenue of the Rakuten Group from fiscal year 2014 to 2023 (in billion Japanese yen). Statista. Statista Inc.. Accessed: October 07, 2024. https://www.statista.com/statistics/223327/consolidated-sales-of-the-rakuten-group-since-2007/
Rakuten. "Annual Net Revenue of The Rakuten Group from Fiscal Year 2014 to 2023 (in Billion Japanese Yen)." Statista, Statista Inc., 14 Feb 2024, https://www.statista.com/statistics/223327/consolidated-sales-of-the-rakuten-group-since-2007/
Rakuten, Annual net revenue of the Rakuten Group from fiscal year 2014 to 2023 (in billion Japanese yen) Statista, https://www.statista.com/statistics/223327/consolidated-sales-of-the-rakuten-group-since-2007/ (last visited October 07, 2024)
Annual net revenue of the Rakuten Group from fiscal year 2014 to 2023 (in billion Japanese yen) [Graph], Rakuten, February 14, 2024. [Online]. Available: https://www.statista.com/statistics/223327/consolidated-sales-of-the-rakuten-group-since-2007/