Japanese financial services firm Monex Group has reported its monthly consolidated financial results for the month ending March 2018, which showed an upbeat performance on both yearly and monthly terms in what has been its best month in several years, according to figures released by the company.
The Japanese broker’s revenues grow now for the fourth month in a row. Delving into March metrics, the group managed to secure a fresh rebound, reporting an operating revenue of $57.2 million, up 37 percent month-over-month from $41.9 million in February 2018.
Over a yearly timeframe, the latest figures showed a less upbeat picture, increasing by 32.0 percent year-over-year from $43.3 million back in March 2017.
Going Past the Great Wall: Things to Consider When Entering the Asian MarketGo to article >>
Financial expenses also registered an increase during the month ending March 2018, coming in at $3.8 million. This corresponded to a jump of 32 percent from $2.9 million in February 2018. Year-over-year, Monex did see an increase of this figure by 6 percent when weighed against $3.6 million in March 2017.
Moving to Monex’s operating revenue after deducting financial expenses, the company reported the figure at $53.4 million in March 2018, a gain of 37 percent month-over-month from $39 million in February 2018. When measured against its 2017 equivalent, Monex’s net operating revenue was also higher by a factor of 34.0 percent year-over-year from $39.9 million in March 2017.
Earlier today, Monex revealed that the firm is planning to develop a proprietary blockchain and considering the feasibility of a fundraising round via initial coin offering (ICO).
In addition to its future prospects, Monex Group, which recently acquired the Japanese cryptocurrency exchange Coincheck, has disclosed the exchange’s financials for the first time after it endured a massive theft earlier this year.