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Revenues at Monex Group Hit Record Levels in H1

Monex Group, the global financial conglomerate, today reported a set of strong results for the first half of the fiscal year to the end of March 2014, with revenues hitting record levels in the period. 

 

Total operating revenues after stripping out financial costs reached JPY 27.09 billion (USD 275.5m) in the six months to September 30, 2013, a rise of 93% against the corresponding period a year earlier. Net income for the period was JPY 6.72 billion, a rise of stunning 437% year-on-year. 

 

There were a number of factors behind this set of successful results. For openers, the Japanese business segment, which includes Forex company Monex Inc., delivered a very strong performance as it managed to capitalize on the flourishing market after December 2012. And let's also mention that customer assets in custody also marked a record, reaching JPY 3.13 trillion as of September 30, 2013. Elsewhere, in China a new business started operations with the aim to boost client numbers, while in global terms revenues from introducing brokers (IBs) staged a rise. Now, you must be asking yourselves whether everything is in fact rosy for the group. Not really.

 

Let's take a look at the numbers for the second quarter of the fiscal year: total operating revenues at JPY 11.42 billion fell by 27% from the preceding quarter, while net income at JPY 1.57 billion dropped by 70% quarter-on-quarter. The good news is that the company is not turning a blind eye to this figures and is undertaking a strategic plan to improve metrics. This includes the introduction of new trading tools in Japan: enhancing the Monex MT4 platform and launching tradable; boosting the platform variety for institutional clients worldwide; finalizing the global integration of the liquidity pool. 

 

This is not the end to the disciplinary measures the group is eyeing: it's also implementing a cost-cutting plan. Don't get the shivers, no jobs trimming is in sight! By March 2017, the group aims to slash expenses by JPY 2.69 billion thanks to streamlining of trading systems and information services. 

 

For the full press release by the group, click 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 group  monex inc  monex forex broker  monex japan  forex results  forex trading  forex performance  first half 2013  fiscal year 2013  corporate performance  monex revenues  monex income  h1 2013  fy 2013 

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