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Rakuten Group (4755) investor relations material
Rakuten Group Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 earnings summary8 Aug, 2025
Executive summary
Consolidated revenue rose 11% year-over-year to ¥596.4B for Q2 FY2025, with all major segments contributing to growth and the first Q2 profit since FY2019 driven by operational efficiencies.
EBITDA for Q2 FY2025 surpassed ¥100B, the highest ever for a second quarter, reflecting strong segment contributions.
Non-GAAP operating income turned positive at ¥20.1B, a significant improvement from previous losses.
Net loss widened to ¥40.1B for Q2, mainly due to nonrecurring tax and compensation expenses.
AI initiatives advanced with the full launch of Rakuten AI, integrating agentic AI across services.
Financial highlights
Internet services revenue grew 6.8% year-over-year to ¥324.5B; fintech up 14.8% to ¥232.7B; mobile up 18.1% to ¥112.1B.
Consolidated non-GAAP operating income reached ¥20.1B, a turnaround from previous losses.
IFRS operating income turned positive at ¥8.8B, up ¥27.2B year-over-year.
EBITDA for the mobile segment turned positive, improving by ¥21.6B year-over-year to ¥9.6B.
Quarterly net loss was ¥40.1B, impacted by nonrecurring tax and compensation expenses.
Outlook and guidance
On track for full-year EBITDA profitability in 2025, with accelerated subscriber growth targeted in the second half.
Aims to accelerate mobile subscriber growth to surpass 10 million as soon as possible.
Medium-term target to reduce net interest-bearing debt to non-GAAP EBITDA (non-fintech) within 5x by 2027; revised FY2025 target to 8.5x.
Continued focus on cost reduction, efficiency, and core business profit growth.
Double-digit consolidated revenue growth targeted for FY2025, excluding the securities business.
Assess Rakuten Mobile's path to profitability.
Elaborate on Rakuten AI's impact on advertising.
Explain Rakuten's strategy for global travel GTV.
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Next Rakuten Group earnings date
Q3 202512 Nov, 2025
Next Rakuten Group earnings date
Q3 202512 Nov, 2025
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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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