Monex’ May revenue drops, much like its trading volume

Monex’ May revenue drops, much like its trading volume

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The Japanese forex broker Monex Group  (TYO:8698) reported that its May operating revenues dropped from April. This is much like the record decrease of the daily average revenue trades (DARTS) in the same month, already reported by the company.

The new monthly consolidated financial report shows that in May the operating revenue of Monex was JPY 3.6 billion, down nearly 5.3% from April’s JPY 3.8 billion. For comparison, last May Monex had operating revenue totaling almost JPY 4.5 billion.

The company, however, managed to bring down its financial expenses as well – by 4%, to JPY 309 million. After the deduction of financial expenses, Monex’ operating revenue in May was JPY 3.3 billion. In comparison, last May it was a little over JPY 4 billion.

The performance of Monex in May is in line with the overall decline of Japan’s forex and binary options market in the month. Of all the major forex brokers in the country, only the largest – GMO Click Securities reported flattish revenue, but declining trading volumes, while Invast Securities’ revenue decreased to JPY 238 million – the lowest since September 2014. Another significant player on the Japanese forex market – Money Partners Group also reported a continuing decline both of trading volume and operating revenue.

Earlier this month Monex Group announced it has bought back own shares worth $8.4 million.

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