After already reporting weak volumes earlier this month, the Monex Group has just released disastrous preliminary consolidated financial results for the first quarter of the fiscal year ending March 2015. The final results are only expected to be released after July 31st, but obviously the group’s management felt a need to warn investors beforehand.
For the quarter ending June 30 , 2014, total operating revenue is assumed to be only Yen 10.8 billion, down 36% from the first month of the previous fiscal year. Net income attributable to owners of Monex, Inc. is expected to reach only Yen 500 million, a decline of over 90% Y-o-Y from Yen 5 billion for the quarter ended June 30, 2013. The preliminary figures are based on assumptions that Monex Group, Inc. considers reasonable based on current information and may be different figures from the actual performance.
The Participants in Forex Trading and their Role in the MarketGo to article >>
Compared with the previous quarter the preliminary consolidated financial results for Monex are also expected to be considerably bad this quarter, but not as drastic as the yearly comparison. For the quarter that ended March 31, 2014, the total operating revenue was Yen 12.05 billion and net income attributable to owners of Monex Group, Inc. was Yen 1.09 billion, so the figures only declined by 10.4% and 54.3% respectively.
As for the group’s American subsidiary firm, Monex Inc., the quarter is also going badly according to a separate release of its financial results. For the quarter which ended June 30, 2014, operating revenue was Yen 7.2 billion down 42.3% Y-o-Y, and the net income only reached Yen 789 million, a decrease of 79% from the same quarter of the previous year.