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Japan's Monex Marks Robust Start to Final Quarter of 2013

Monex Group, the Japanese financial giant behind Forex broker Monex Inc., has managed to record a month-on-month rise in operating revenues in October, despite an increase in financial expenses.

 
The group registered operating revenues, net of financial expenses, of JPY 3.77 billion (USD 37.2 million) in October, up by 1.34% against the JPY 3.72 billion seen in September. And although the October result was stronger than August's reading of JPY 3.51 billion, the reading was the lowest than any monthly result since the onset of 2013.
 
At the same time, the group's financial expenses rose – in October they stood at JPY 384 million, up by massive 18.2% month-on-month. The increase is indeed substantial, as it happens in a time when Monex is trying to reduce costs – we informed you that the group is implementing a cost-cutting plan when we reviewed its performance in the first half of its fiscal year. The group aims to reduce expenses by JPY 2.69 billion by March 2017, thanks to efforts like streamlining of trading systems and information services. In addition, Monex has a strategic plan to improve operating metrics, which includes the  upgrading the Monex MT4 platform, the launch of tradable, beefing up the platform variety for institutional clients on a global scale and completing the worldwide integration of the liquidity pool. 
 
The rise in operating revenues in October came in the face of a 14% month-on-month drop in trading volumes, and a 5% fall in daily average revenue trades. Apparently, the Japanese group is passing through controversial times, but is managing to maintain resilient performance. 
 
For the revenues and expenses data of Monex, see this page
 

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 group  monex inc  monex forex broker  monex october  october 2013  corporate performance  monex revenues  monex financial expenses  cost cutting  expenses reduction 

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