Kabu.com Securities Co., Ltd., a Japan-based provider of brokerage services and foreign exchange (forex) margin trading, announced this Tuesday that it has made a number of changes to its organizational structure and personnel, as part of its medium-term business plan.
In the medium term, the financial firm aims to develop and provide advanced services, expand its B2B2C revenue and diversify its revenue sources. In order to achieve this, the FX trading provider will establish a System Strategy Department and Investment Information Office, effective from the 1st of April 2019.
In addition, from next Monday the company’s “Innovation Promotion Department” will be referred to as “Corporate Sales Department” and its Sales Promotion Department will be renamed as the Retail Sales Department.
Because of these changes, some of the positions of its management team have also changed, also effective from the 1st of April. Specifically, Kozaki Kosuke who was previously the Deputy General Manager for the System Development Department is now the General Manager of the System Strategy Department.
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The former Director of the Innovation Promotion Department, Yu Ito, is now the Corporate Sales Manager and Investment Information Manager. Lastly, Koichi Komatsu is now the Retail Sales Manager. Previously, Komatsu held the role of general manager of the sales promotion department.
Kabu Starts off 2019 on Uneven Footing
So far in 2019, Kabu has been reporting weak trading performance and operating results. As Finance Magnates reported, the retail brokerage achieved its lowest monthly revenues in three years.
In terms of commission fees, the broker managed to rake in ¥461 million ($4.17 million) in January. This is the lowest level of revenue, in a one month period, that the firm has generated from broker fees since at least 2016.
In February, the Japanese firm managed to report a slight monthly increase in preliminary operating revenues. During the month, revenues generated from brokerage commissions coming in at ¥554 million ($4.98 million), 20.2 percent higher month-on-month.