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Monex Group’s (TYO:8698) operating revenue after deducting financial expenses dropped 6.5% from February to March 2016. According to the consolidated monthly results, released by Japan’s second largest brokerage group, in March 2016 it was nearly JPY3.6 billion. In comparison, in February this year was JPY 3.8 billion. On an annual basis, the operating revenue minus expenses this March dropped 22%.
The total operating revenue of Monex in March was JPY 3.9 billion and the financial expenses were JPY 323 million.
Along with the March report, the broker also released the consolidated results for Q4 of the fiscal year that ended on March 31. The total operating revenue in the period was JPY 12.4 billion – down 4.4% from the previous quarter and 11.7% on an annual basis. The expenses in the period reached JPY 973 million – 14.6% less than in the preceding quarter and 41.6% lower than in the last quarter of the financial year 2015. The operating revenue after deducing the expenses in Q4 FY 2016 was JPY 11.4 billion.
Earlier this month Monex released the preliminary results for Q4 and for the FY 2016, which has estimated its operating revenue for Q4 at JPY 12.3 billion.
In the first days of April Monex reported a 34% plunge of its trading volume in March, compared to February, to $28.3 billion.
Monex Group operates under three retail trading brands – Monex, TradeStateion and Boom. The majority, or about 60%, of its revenue comes from operations in Japan and the remaining 40% from operations in the US.
It consists of Japan-based holding company Monex Group Inc. and its Japanese subsidiaries Monex Inc.,Monex Ventures, Trade Science Corp., Monex Hambrecht, and Monex-Saison-Vnaguard Investment Partners, which is a joint venture in which the group holds a majority stake. In addition, the group owns TradeStation Group, which is in charge of the operations in North America and Europe, and Monex International, aka Monex Boom Group, which is in charge of the Asian business.