Japanese brokerage Monex just released its monthly consolidated financial results, showing an increase in revenues both month-on-month and year-on-year. The JASDAQ listed company also added two new senior executives to its team, with Nozomi Takasaki and Atsushi Iida joining the firm, each in their own management oriented roles.
The company also announced the establishment of a new subsidiary which will be focusing on the development of new products that are oriented towards the money management space. The hire of Mr Atsushi Iida is part of the company’s effort in this new direction, which has lately become increasingly popular amongst brokers.
In May 2017, the operating revenue of Monex increased from ¥3.55 billion ($31.9 million) in April 2017 to ¥3.93 billion ($35.3 million). The figure is up 10.7 percent on a month-on-month basis. The number is also higher by 8.68 percent on a year-on-year basis, with the operational revenue increasing from a base of ¥3.61 billion ($32.5 million) as reported in May 2016.
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Money Management Subsidiary
The first new hire which the company announced today is Nozomi Takasaki, who is joining the company as a new Senior Executive Officer, effective from June 24th 2017.
Starting in July, the Japanese brokerage is establishing the Monex Zero subsidiary. This office will be led by Atsushi Ida, who will serve as General Manager of the new venture.
Last week, Finance Magnates reported on the results of Monex Group’s Global Investor Survey, which showed new trends in retail investor sentiment. Amongst a number of findings, the report revealed that the percentage of retail traders that are investing in cryptocurrencies such as Bitcoin is as low as 3 percent.
Despite the rapidly increasing interest in trading cryptocurrencies, the product is still far from mainstream for investors. Notably, the region where cryptocurrency traders were the most active was Asia, with respondents from the Chinese subsidiary of Monex proving to be the most keen on trading cryptocurrencies.