Monex’ June revenue, profits rise again

Monex’ June revenue, profits rise again

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The Japanese forex broker Monex Group (TYO:8698) reported that both its June operating revenue and profits (Operating revenue after deducting financial expenses) rose from May. The monthly consolidated results also show that both metrics are rebounding after a decline that started in February this year, and are the highest since January 2016.

According to the document, the broker’s operating revenue in June was JPY 4.2 billion, up 15.4% from May, but 16.3% lower than in June 2015. The profit of Monex was JPY 3.8 billion, which is 13.5% more than in May of this year. When compared to June 2015, however, it decreased nearly 17%.

The expenses of Monex are back on the rise in June, reaching JPY 359 million. In comparison, in May they were JPY 309 million and in April – JPY 322 million. Last June they amounted to JPY 396 million.

The June financial results of Monex are much in line with the earlier report of rebounding trading volume and daily average revenue trades (DARTs), reaching 293 426 per day, or 7% more than in May.

The financial results of the broker in the first quarter of the financial 2017, however, have declined significantly, compared to the previous quarter and over the year.

Generally, Monex’ monthly performance is in tune with the overall June results of the Japanese forex and binary options market, which soared. The main competitor of Monex – GMO Click Securities also reported very strong June performance.

Monex Group operates internationally and consists of a group of companies based in Japan, Asia, North America and Europe. Monex Group operates under three retail trading brands – Monex, TradeStation 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 did not provide trading metrics about its other subsidiaries.

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