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"Japan-based but global ecommerce juggernaut Rakuten reported its financial results for the first 6 months of the fiscal and calendar year this morning, revealing that its revenues exceeded \u00A5200,5 million (roughly $2.56 billion), up almost 13 percent compared to the same period last year.\r\n\r\nRakuten reported an operating profit of \u00A535,224 million (approximately $450 million), with net income of \u00A519,545 million ($250 million) for the first six months of the current fiscal year.\r\n\r\nThis is a significant turnaround from the \u00A541,923 million ($535 million) net loss Rakuten booked in the first half of the year.\r\n\r\nFor the full year 2011, Rakuten reported $4.75 billion in annual revenue, so it's on course to surpass that figure this year.\r\n\r\nThe company, which is out to 'destroy Amazon', was founded in 1997 and currently employs more than 8,000 people.\r\n\r\nIn its earnings report, Rakuten notes that it aims to bring its flagship Ichiba's BtoBtoC marketplace model to the world and put more effort in its smartphone and tablet initiatives.\r\n\r\nCash and cash equivalents at the end of the first half of the fiscal year were a whoping \u00A5188,031 million ($2.4 billion).\r\n\r\nRakuten owns businesses like Kobo, Play.com, Buy.com, Tradoria and stakes in Pinterest and Ozon.ru.\r\n\r\nYou can check out more TNW coverage on the happenings in Asia here.\r\n\r\nAlso read: \r\n\r\nPinterest raises $100m from Japanese e-commerce giant Rakuten, previous backers\r\n\r\nJapanese retailer Rakuten botches Kobo Touch launch\r\n\r\nKindle competitor Kobo announces a year of triple digit growth\r\n\r\nJapanese e-commerce giant Rakuten buys Spanish video-on-demand firm Wuaki.tv"^^<http://www.w3.org/2001/XMLSchema#string>
<http://thenextweb.com/asia/2012/08/03/japanese-ecommerce-giant-rakuten-booked-2-56-billion-in-revenue-in-the-first-half-of-2012/>