Monex Group Q3 Metrics Reveal YoY Decline, December Revenues Steady

The Japanese brokerage maintained steady revenues last month but its Q3 metrics did not reach last year's levels.

Monex Group, Inc. today reported its monthly consolidated financial results for the month of December 2016 and consolidated Q3 metrics for the year ending 31st March 2017, as per a company statement.

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Financial Metrics

For December 2016, Monex recorded monthly revenues of $34.97 million (¥4,002 million). This represents a marginal decrease of -0.4 percent over last month’s figures of $35.13 million (¥4,020 million), down -8.5 percent YoY compared with $38.2 million (¥4,374 million) in December last year.

Financial expenses registered an increase during the month ending December 2016, coming in at $3.14 million (¥360 million). This reflected a rise of 15 percent from $2.66 million (¥313 million) in November 2016.

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Q3 Operating Revenue

In conjunction with December figures, Monex also reported that operating revenue for the period to 31st December (Q3) was $266.7 million (¥30,519 million), registering a decline of -20.2 percent compared with $334.3 million (¥38,249 million) for the same period in 2015.

December Trading Volumes

Earlier this month, Monex reported its December 2016 trading volumes which revealed lower figures for the month in comparison with November which had delivered the best trading volumes since February. The decline saw the brokerage return to the lower levels seen during the previous months.

December DARTs for the month were 269,289, the lowest since July, representing a decline of -12.5 percent percent MoM compared with November’s 307,856, along with an annual decrease of -4.8 percent compared with December 2015’s figures of 282,969.

Highlights

The brokerage has reported several highlights relating to its performance including the migration to a new backbone system in January 2017 which resulted in improved product development flexibility. Also of note was increased recognition of the TradeStation platform among active traders.

Monex expects improvement of the business environment under the Trump administration and an expected cash flow improvement from FYE March 2018 due to a decrease in new system investments. The brokerage has also seen both Japan and US segments return to profitability.

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