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Rakuten Group (4755) investor relations material
Rakuten Group Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary13 Nov, 2025
Executive summary
Consolidated revenue for Q3 2025 rose 10.9% year-on-year to JPY 628.6 billion, with double-digit growth in all segments driven by domestic EC, international business, FinTech, and Mobile.
Non-GAAP operating income surged 212.8% year-on-year to JPY 38.6 billion, with significant contributions from FinTech and Mobile; consolidated EBITDA hit a record JPY 118.7 billion, up 28.8%.
Net loss narrowed to JPY -11.5 billion from JPY -66.0 billion in Q3 FY2024, reflecting improved profitability and financial income.
All core businesses contributed to growth, with strong momentum in B2C and B2B subscriber acquisitions, especially in Mobile.
IFRS operating income improved to JPY 8.0 billion from JPY 0.5 billion year-over-year.
Financial highlights
Internet Services revenue grew 11.1% year-on-year to JPY 349.6 billion; non-GAAP operating income up 14.5% to JPY 24.2 billion.
FinTech revenue increased 20.3% year-on-year to JPY 250.5 billion; non-GAAP operating income up 37.9% to JPY 55.2 billion.
Mobile segment revenue rose 12% year-on-year to JPY 118.7 billion; operating loss improved by JPY 10.1 billion year-on-year, with EBITDA turning positive.
Quarterly profit before tax was JPY 8.7 billion; quarterly profit was -JPY 11.5 billion, a significant year-on-year improvement.
Non-recurring impairment loss of JPY 27.9 billion recorded in Online Supermarket Business, with book value of fixed assets reduced to zero.
Outlook and guidance
Full-year EBITDA expected to exceed JPY 400 billion.
Targeting 10 million mobile subscribers by end of 2025, supported by B2C and B2B growth.
Aiming for full-year 2025 profitability for both Non-GAAP and IFRS operating income.
Expecting continued positive growth in operating income for FinTech and Payment businesses.
Medium-term consolidated equity ratio target set at 5%, with a long-term goal of 10%.
Justify the 5% equity ratio target for FinTech
What led to the online grocery service changes?
Describe the tangible impact of AI initiatives
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Next Rakuten Group earnings date
Q4 202513 Feb, 2026
Next Rakuten Group earnings date
Q4 202513 Feb, 2026
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Frequently asked questions
Rakuten Group, Inc., together with its subsidiaries, provides internet services in Japan and internationally. It operates through five segments: Retail Business, Financial Services, Internet Media, Investment and Others. The company offers a suite of shopping, travel, banking, securities, credit card and insurance offerings. Its flagship service is Rakuten Ichiba that provides online shopping mall services; Rakuten Travel provides online travel booking services; Rakuten Card provides credit card services; Rakuten Bank offers financial services to third party companies as well as for bank customers; Kakaku.com operates an online price comparison service for consumers; and Buy.com is an online retailer in the United States.
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