Shares of Japanese publicly traded brokers have been on the move last week after a broad stock market rally across the board. Comments from Japanese Prime Minister Shinzo Abe about a prospective cut on corporate tax rates next year has sent shares of Monex Group (TYO:8698) soaring more than 10 percent in a single day. GMO Click Holdings (TYO:7177) surged almost 5 percent in the immediate aftermath of the Prime Minister’s announcement.
Looking at the weekly performance data, shares of Monex Group (TYO:8698) increased by 12 percent, while those of GMO Click Holdings (TYO:7177) traded on a subdued note when compared to the broad market, closing only 2.3 percent higher.
Last Friday, GMO Click reported that it has registered the highest monthly revenue figures since May after a preliminary report on the company’s monthly revenues was published. Operating revenue increased by 7 percent in August, when compared to July, coming in at ¥2.5 billion ($21.1 million).
Stocks to Watch This Week – Expedia Group, IncGo to article >>
The figure is broadly in line with the average registered in the previous quarter, totaling to about ¥2.6 billion per month ($21.6 million).
Monex Group Holdings (TYO:8698) has launched an incentive program for its shareholders, committing to provide cash back Shareholders who own 1,000 shares (i.e. 100 shares unit) or more which are under custody in the brokerage accounts of Monex, Inc., a subsidiary of the Company, as of September 30 and March 31 each year.
The incentive applies only to holders of cash shares and not CFDs on the stock of Monex Group (TYO:8698).
All of the shareholders, which are eligible will get cashback will receive it depending on the amount of brokerage commission they have spent for cash trading paid during a specific period in each shareholder’s brokerage account or “Raku-raku account” of Monex, Inc.