Japan-based Monex Group posts 69% higher consolidated after-tax profit in Q1-Q3 FY 2016

Japan-based Monex Group posts 69% higher consolidated after-tax profit in Q1-Q3 FY 2016

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Monex Group, a Japanese-based forex brokerage group, reported on Thursday its consolidated after-tax profit jumped by more than 69% to nearly JPY 3.2 billion in the first nine months of fiscal year, ending March 2016.

The group generated a consolidated total revenue of JPY 42.9 billion in the April-December 2015 period, which represents an increase of 15.4% on the year. Its operating revenue totaled JPY 41.9 billion, of which JPY 24.7 billion was from collected brokerage commission fees.

Monex Group’s consolidated assets amounted to nearly JPY 977.4 billion at the end of December 2015, down from JPY 1.1 trillion at end-March 2015, or the end of the previous fiscal year.

In the third quarter of the fiscal year alone, Monex Group’s operating revenue amounted to JPY 12.9 billion, the lowest so far for the fiscal year. The monthly values also were lowest in the past three months of 2015 – JPY 4.23 billion in October, JPY 4.33 billion in November, and JPY 4.37 billion in December.

The group’s revenue from business operations in Japan, which accounts for 60% of the total revenue, went down by 25% on the quarter in the last three months of 2015, in line with the lower trading volume in the forex market. The number of new trading accounts in Japan, however, went up 35% on the quarter in the October-December 2015 period. The significant growth could be explained with the November listing of Japan Post Bank, which turned into the world’s largest initial public offering in 2015.

In the US. Monex Group’s profit went up for a second quarter in a row.Meanwhile, in China the broker’s net financial income in October-December 2015 also grew by 5% on the quarter, due to the higher margin lending.

The amount of received brokerage commissions declined both in the US and in China by a quarterly 15% and 25%, respectively, due to the lower volatility of the US market and decline in the Hong Kong stock trading market.

The group consists of the Japan-registered holding company Monex Group Inc. and its Japanese subsidiaries Monex Inc., Monex Ventures, TradeStation Corporations, Monex Hambrecht and Monex-Saison-Vanguard Investment Partners. Outside Japan, the group operates TradeStation Group, which is in charge of the operations in North America and Europe, and Monex International Ltd, aka Monex Boom Group, which is in charge of the markets in Asia.

Source: Monex Group


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