de | cn | ru

Brokers News

Japan's MONEX Fails to Cut Expenses in Dec'2013

MONEX Group Inc. - Japan's online Forex broker, today published final statistics for the last quarter of 2013, with data showing some lag in the company's efforts to cut expenses. As you know,  MONEX undertook program to reduce operational expenses after the second-quarter results showed that total operating revenues had declined by 27% from the preceding quarter, while net income at JPY 1.57 billion had dropped by 70% quarter-on-quarter.  In order to tackle the problem, the group not only announced plans to offer a variety of platforms to its Japanese and global customers but also to slash expenses by JPY 2.69 billion thanks to streamlining of trading systems and information services by March 2017.

And the cost-cutting efforts have been going well with November's financial expenses down from the levels seen in October 2013, but December 2013 presented us with a picture of rising costs: the financial expenses amounted to JPY 447 million (USD 4.4m), up by 23% from the JPY 363 million in financial costs registered in November 2013. 
The result weighed on the figure for the third quarter of the fiscal year of MONEX (it ends on March 31, 2014) – financial expenses rose by 19.2% against the second quarter. On the brighter side, overall expenses fell slightly 1.6%. This was mainly due to the successful cost-cutting in the United States, the subsidiary there was the single one to manage to slash expenses in the third quarter. 
The rest of the figures for the third quarter (the October-December 2013 period) were solid, with the Japanese business performing particularly well, as Monex's revenues in Japan jumped by 11% quarter-on-quarter to JPY 9.5 billion. Total revenues for the three month period amounted to JPY 13.54 billion, up by 9.1% from the second quarter, while net income for the third quarter soared 62% to JPY 2.54 billion.
As you know from our previous article, the trades and volumes did well in December 2013, so the group is positioned well. In case you want to see some particular stats, check out the official press release on the third-quarter results 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 broker  monex group  forex broker japan  results 2013  financial expenses  cost cutting  revenues  2013  third quarter  fiscal year  profit  us business 

More news about Monex

Broker Country Regulation Platform Min Deposit Review
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
Cyprus, SVG CySEC MT5, Web,
$100 Review Website
Australia ASIC MT4, MT5,
$100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website
Australia, UK ASIC, FCA MT4, MT5,
$200 Review Website

More Forex Brokers News

FXTM Launches 30% Welcome Bonus

Aug 06 2019 13:38:53

  As part of FXTM’s mission to provide clients with an exceptional trading experience, the international broker has launched its latest offering – the 30% Welcome Bonus!   This promotion, available under Exinity Limited, boosts your account by an extra 30% when you deposit $100... Read more

XM parent actively prepares for the launch of its US brand

Jul 03 2019 14:19:28

  Trading Point Group, the owner and operator of the XM brand, actively prepares for the future launch of its US brand Read more

FBS Invites 20 Best Partners To a VIP Party

Jul 02 2019 15:04:24

Partner parties is a great way to get to know company’s local promoters and celebrate loyalty, motivation, and cooperation. In 2019, FBS broker launches the FBS Stars contest with a round trip flight to Russia’s second largest city and a VIP party invitation as a prize. Read more

Vantage Prime will no longer service non-Australian clients

May 20 2019 13:36:39

  Vantage Prime, which is a part of the Vantage FX group, announced it will no longer service non-Australian clients, online media Finance Magnates reported today. The broker’s decision is taken due to regulatory concerns. Read more

Dukascopy warns it has no cooperation with shady broker GCG Asia

May 16 2019 13:29:47

  Swiss forex brokerage and bank Dukascopy has repeatedly warned investors that it is has no cooperation Guardian Capital Asia (GCG Asia) and that the latter is likely involved in a fraudulent scheme. Read more

$75 mln forex Ponzi scam revealed in the US

May 03 2019 16:46:08

The Commodity Futures Trading Commission (CFTC) in the US has filed charges against Florida based Oasis International Group, Oasis Management and Satellite Holdings along with their owners for running a 75 million USD Ponzi scheme, concealed as forex investment program. Read more

Australians lost $86 mln to investment scams in 2018

May 02 2019 17:04:18

Australians lost over 86 million USD to investment scams in 2018 alone – the biggest portion of the almost 490 million USD  in losses from over 378 000 scam reports, the latest report of the Australian Competition and Consumer Commission’s (ACCC) reveals. Read more

FXTM now offers a deposit bonus of up to $5 000

Apr 25 2019 11:10:24

  Global award-winning brokerage FXTM has launched their biggest deposit bonus promotion ever. The broker is now offering an extra 30% back from every amount their traders deposit over a period of 30 days, up to a total of $5,000. Read more

FXTM appoints Han Tan as a Market Analyst for Southeast Asia region

Apr 19 2019 13:28:36

  Global award-winning forex broker FXTM has just announced the appointment of Tan Chung Han (Han Tan) as a Market Analyst. Read more

FXTM gets a license from Mauritius’ FSC

Mar 28 2019 09:59:36

  Award-winning forex brokerage  FXTM (ForexTime) continues its ongoing global expansion. The broker announced it has acquired a license from the Financial Services Commission (FSC) of the Republic of Mauritius previous week. Read more

de | cn | ru