Rakuten Inc. said its normalized net income for the second quarter was ¥11.95 per share, an increase of 19.4% from ¥10.01 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥15.95 billion, an increase of 20.1% from ¥13.28 billion in the year-earlier period.

The normalized profit margin fell to 9.2% from 9.6% in the year-earlier period.

Total revenue increased 25.2% year over year to ¥173.19 billion from ¥138.34 billion, and total operating expenses increased 26.5% from the prior-year period to ¥146.94 billion from ¥116.13 billion.

Reported net income grew 94.6% from the prior-year period to ¥13.57 billion, or ¥10.16 per share, from ¥6.97 billion, or ¥5.25 per share.

As of Aug. 6, US$1 was equivalent to ¥124.71.