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Japan's Monex Inc. Records Strong Y/Y Rise in Interim Profits

Monex Inc., the securities subsidiary of Japanese financial conglomerate Monex Group, today announced the financial metrics for the first half of its fiscal year, with data showing impressive surge in both profits and revenues.
 
Net income at Monex Inc. for the period between April 1, 2013 and September 30, 2013 amounted to JPY 5.3 billion (USD 52.9m), up by impressive 503% from the equivalent period in 2012. Net operating revenues also staged a whooping rise year-on-year, soaring from JPY 8 billion in the first half of 2012 to JPY 19.2 billion in the first half of 2013 – and, by the way, that's a jump of 140%.
 
The fortunes of the two quarters that combine to form the first half, however, were quite different. Net income in the first quarter was JPY 3.76 billion, while that for the second quarter was JPY 1.52 billion, down by 60% from the preceding three months. Net operating revenues also staged a drop quarter-on-quarter: in the quarter to September 30, 2013, the reading was JPY 7.7 billion, a fall of 33% from the JPY 11.53 billion generated in the prior quarter. 
 
The dismal quarter-on-quarter comparisons can always be attributed to seasonal factors, but it's worth noting that Monex is not among the companies that simply succumb to the summer mood and forget to develop their business. Let's just recall that the broker launched MONEX MT4, its version of the popular Metatrader 4 (MT4) platform, on August 23, 2013, in the middle of the traditional summer holiday period. Hopefully, efforts like these will help the corporate performance pick up in the coming months.
 
You can find the full press release here.
 

About Monex Group Inc.

 
Monex Group Inc is an online securities brokerage providing advanced financial services to individuals and investors. The company is considered a pioneer among Japanese online securities brokers, and its services cover M&A advisory, debt & equity underwriting, asset management focusing on alternative investments, investment education, and other investment banking functions. Monex Group has offices throughout Asia, and the recent acquirement of brokers TradeStation and IBFX opened its way to the US market as well.
TAGS: monex  monex forex  monex inc  monex first half 2013  financial metrics  corporate performance  forex results  revenues  profits  securities business  japan forex broker 

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