Kabu, an online securities broker, has published its settlement of accounts data for the second quarter for the fiscal year ending March 2019. Taking a look at the results, it appears that the firm’s revenues have taken a hit.

For Kabu, the second quarter refers to the period of April 1, 2018, until September 30, 2018. The securities broker initially published its preliminary figures on Friday. Starting off with operating revenue, in the second quarter of the 2019 fiscal year, Kabu took in a value of ¥10.9 billion ($97.2 million).

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This is a 4 per cent drop from the same time last year, when the company took ¥11.4 billion. For the fiscal year ending March 2018, the online broker recorded an operating revenue of ¥24.5 billion.

Net operating revenue came in at ¥9.5 billion. As was the case with operating revenue, this is down from the second quarter of the broker’s 2018 fiscal year. Specifically, it’s 0.4 per cent less year-on-year.

The firm highlights that the lacklustre operating results for the second quarter were largely due to a temporary decline in advertisement and promotion expenses. This includes television program broadcasting. As a result, this decline should also be reflected in the final results.

Income performs better than revenues for Kabu

Income, on the other hand, is rosier for Kabu. In the second quarter of the 2019 fiscal year, operating income was ¥3.8 billion. Unlike revenue, this was actually up from the second quarter of the previous year by 31.8 per cent.

Ordinary income was also up on a yearly basis, also reaching ¥3.8 billion. This is a jump of 31.7 per cent year-on-year, as in the second quarter of the previous year the company took in ¥2.9 billion.

For the second quarter, net income was also up. However, the increase was less impressive than both income and ordinary income, hitting ¥2.7 billion. When compared to the same time period last year, which had a net income of ¥2.6 billion, this was a slight increase of 3.6 per cent.