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Japan's MONEX Reports Steep Rise in Profits in Q3

Monex Group Inc, the securities giant that owns Japan's Forex broker Monex Inc today announced its preliminary financial figures for the quarter to the end of December 2013, with profits and revenues recording a sharp increase. 

Let's kick off with the statistics and, particularly, with the parameter which is the most important when it comes to financial results: net profits. The net income for the third quarter of the company's fiscal year amounted to JPY 2.5 billion ($24.2 million), up by massive 56% from the preceding three-month period. Revenues also staged a rise on a quarter-on-quarter basis, reaching JPY 13.3 billion – 7% higher than in the three months to the end of September 2013. 
Now, let's take a look at some annual comparisons, which are set to illustrate the financial fortunes of the group better, as they strip off seasonal factors. Overall revenues from operations for the nine months until December 31, 2013 equal JPY 42.6 billion, a growth of impressive 84% from the result from the corresponding period a year earlier. Pre-tax profits surged 838% year-on-year to JPY  15 billion, while net profits amounted to JPY 9.2 billion – a rise of 497% against the JPY 1.54 billion registered a year ago.
As you can see, the set of earnings is solid, obviously underpinned by successful attempts to reduce expenses and boost the portfolio of trading platforms
The release of the preliminary financial results comes after MONEX reported strong operating metrics for the whole of 2013, with annual global Forex volumes reaching $702.9 billion. They were up by massive 24% compared with the $567 billion seen in 2012. December was a robust month for Monex Group, as global FX volumes totalled $41.9 billion, an increase of 1% against December 2012, and a  rise of 4% against levels seen in November 2013. The number of daily average revenue trades (DARTs) also held well at 347,664 in December 2013, staging a jump of 16% against levels from the same month in the preceding year.
For the full press release of third-quarter results of MONEX, 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 japan  monex forex broker  japan forex broker  financial results  corporate performance  q3  earnings  forex results  financial metrics  2013  fiscal year  profits  revenues 

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