Kabu, an online securities broker, has made some changes to its team, with the retail trading firm revealing this Friday that it has added two new professionals.
The two new additions to the team are Yasuko Nakamura and Keiichi Komatsu. Both hires were sourced from outside the accompany.
According to the statement released today, Yasuko Nakamura will be the Director of Business Administration and Keiichi Komatsu will be taking on the role of Sales promotion manager.
Both positions will become effective from January 1 next year. The broker did not give further details into the new hires’ roles or responsibilities at the firm.
The new appointments come just weeks after the retail trading firm announced its financial results for November this year.
As Finance Magnates reported earlier this month, despite the broker reporting a significant month on month decline in revenue, the results were still in line with the trend it has seen so far this year.
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When measured against October, which had a net operating revenue of ¥1.77 billion ($15.66 million), November’s figure fell by almost 15 per cent, to reach ¥1.51 billion ($13.38 million) during the month.
The firm also reported total revenue from commissions. Taking a look at the results, November achieved ¥592 million ($5.24 million) in commissions from its brokerage activity.
This is a drop of ¥147 million ($1.30 million) from October’s results, as the firm reported total revenue from commissions of ¥739 million ($6.54 million).
Kabu reports disappointing Q2 results
Kabu’s second-quarter results, which were released in October, also don’t paint a rosy picture for the online broker.
Revenues for the second quarter, which refers to the period of April 1, 2018, until September 30, 2018, took quite a hit during the period.
Operating revenue in the second quarter of the 2019 fiscal year, Kabu took in a value of ¥10.9 billion ($97.2 million).
This is a 4 per cent drop from the same time last year when the company took ¥11.4 billion ($102.5 million).