Japanese brokerage Monex Group has announced its consolidated financial results for the month of July 2017. Looking at the numbers, we can see that revenue has increased when compared to the same month last year.
Operating revenue came in at $354 million (3.9 billion yen) for July 2017, which is 7.5% more than last year’s figure of $333 million (3.67 billion yen). This is a continuation of the strong results that the company has been posting since the beginning of this year.
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When compared to June, this result is a decrease of 9.4%, but this is understandable considering the fact that it is currently a holiday period in Japan, and so many traders and fund managers will be away from their desks.
Monex financial expenses rose to $4 million (0.43 billion yen) from $2.7 million (0.30 billion yen) last year. The rise of 43% which could be attributed to the fact that the company has been expanding into other regions of the world, including Australia.
This also represents a 20.7% increase from $3.3 million (0.35 billion yen) in June 2017. It should be noted that these numbers are as yet un-audited as the proper accounting process is yet to be completed.
Monex is preparing to launch a new product dedicated to the Australian Market in derivatives and securities segment. The new platform will be launched in both Chinese and English language, to collectively target the Australian population with Chinese heritage. The platform will be connected to total 12 countries with 15 different markets and will offer stock trading in shares listed in Hong Kong, China, Taiwan, US, Japan, Thailand, Indonesia, Korea, Singapore, Australia, Malaysia and the Philippines.