MONEX Group Releases Q3 Preliminary Financial Results, Early Indications Suggest Robust Growth

Japanese Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term trading firm MONEX Group has announced the release of its third quarter (Q3) preliminary quarterly consolidated financial results for the year ending March 31, 2014, according to a recent company statement.

Preliminary Figures Project 83.6% Growth in Q3

The most recent preliminary results suggest a continuation of MONEX Group’s strong yearly performance – indeed, a quick glance at the Total Operating revenue in Q3 reveals staunch YoY growth of 83.6%, given the projected rise to $415.1 million (¥42,600 million) from $226.1 million (¥23,205 million) in Q3 2012.

The early indications for Q3 look to allay the some initial concerns radiating out of MONEX Group in the aftermath of the December FX Volumes, which saw notable declines across the board. Overall income before income taxes in Q3 2013 was estimated at $146.1 million (¥15,000 million), vs. an actual figure of just $15.5 million (¥1,594 million) in Q3 2012, constituting an astonishing 841% increase YoY. Finally, the net income in Q3 2013 grew 495% to $89.7 million (¥9,200 million), relative to $15.0 million (¥1,545 million) in Q3 2012.

Q3 Figures Look to Rebound After Lackluster Q2

A quarter-by-quarter analysis based on the Q3 preliminaries yields a slight recovery across the board after a disappointing Q2. Meanwhile, Total Operating revenue in Q3 is estimated at $129.7 million (¥13,316 million), compared with $121 million (¥12,418 million) in Q2, or just a 7.23% QoQ increase. Furthermore, income before income taxes indicates a jump of 46.8% QoQ, correlating to a Q3 figure of $38.2 million (¥3,922 million) from $26.0 million (¥2,671 million) in Q2.

Lastly, net income rebounded in Q3 after a highly disappointing Q2 (-69.5% QoQ loss). However, initial preliminary figures suggest an uptick of 58.0% QoQ or 24.2$ million (¥2,483 million) in Q3 vs. 15.3$ million (¥1,571 million in Q2). Ultimately these figures represent projections and the actual figures are scheduled to be released on January 31, 2014.