The company has released its monthly statistics for revenues outlining the slowdown of the Japanese market
Monex Group Inc (TYO:8698) has released its monthly revenues data for October. The Japanese company has experienced a slowdown just like its industry peers in the world’s largest retail market by volumes. Earlier this month many Japanese brokers, including Monex, GMO Click and DMM Securities, have reported monthly volumes figures that were materially lower than throughout 2015.
As a result the company’s revenues have also dropped to their lowest level for the year. The decline has been quite small, with the monthly revenues figures marking less than a percentage point to the downside to ¥4.26 billion ($34.7 million).
On the bright side the company’s financial expenses figure has also declined. The figure came out lower by 34 per cent at ¥301 million ($2.45 million), which is also the lowest level for the year.
As a result the operating revenue after financial expenses for the year is not the lowest on record for the year, marking ¥3.94 billion ($32 million) which is higher than for the month of September.
No more monetary policy easing despite recession
The Japanese market has been facing headwinds in the past couple of months as the Bank of Japan has refrained from taking additional easing steps despite the economic recession. The failure of the Abenomics policy which massively depreciated the Japanese yen through quantitative and qualitative easing (QQE) did not Yield a sustainable result.
Traders are looking for new clues about the plans of the Bank of Japan to meet its inflation target, yet the monetary policy governing body in the country is so far restraining from expanding an already failing effort.
The QQE policy has depreciated the currency, eroding the purchasing power of households and dampening economic expectations.
According to research by Barclays, the bank is no longer expecting additional easing from the BoJ.
given the declining efficacy of QQE, a sharp JPY depreciation is unlikely
A note in the Barclays’ “Global FX Quarterly” report says that “any further easing to occur as a reaction to risk events such as a sharp JPY appreciation, a worsening in the inflation outlook, political pressure, or a significant deterioration in the external environment.”
If such a scenario materialized, the slowdown for Japanese brokers that started in September could well last until the end of the year. The main risks to the Japanese yen market are entered in rapid appreciation of the currency as a result of a global risk event which typically boosts the value of the JPY.
“The first action in such an event would likely entail some expansion of the QQE program. While such measures could offset some currency appreciation pressures, they would be unlikely to generate a sharp JPY depreciation given the declining efficacy of QQE,” Barclays’ research on the matter stated.
Monex Group Inc (TYO:8698) has released its monthly revenues data for October. The Japanese company has experienced a slowdown just like its industry peers in the world’s largest retail market by volumes. Earlier this month many Japanese brokers, including Monex, GMO Click and DMM Securities, have reported monthly volumes figures that were materially lower than throughout 2015.
As a result the company’s revenues have also dropped to their lowest level for the year. The decline has been quite small, with the monthly revenues figures marking less than a percentage point to the downside to ¥4.26 billion ($34.7 million).
On the bright side the company’s financial expenses figure has also declined. The figure came out lower by 34 per cent at ¥301 million ($2.45 million), which is also the lowest level for the year.
As a result the operating revenue after financial expenses for the year is not the lowest on record for the year, marking ¥3.94 billion ($32 million) which is higher than for the month of September.
No more monetary policy easing despite recession
The Japanese market has been facing headwinds in the past couple of months as the Bank of Japan has refrained from taking additional easing steps despite the economic recession. The failure of the Abenomics policy which massively depreciated the Japanese yen through quantitative and qualitative easing (QQE) did not Yield a sustainable result.
Traders are looking for new clues about the plans of the Bank of Japan to meet its inflation target, yet the monetary policy governing body in the country is so far restraining from expanding an already failing effort.
The QQE policy has depreciated the currency, eroding the purchasing power of households and dampening economic expectations.
According to research by Barclays, the bank is no longer expecting additional easing from the BoJ.
given the declining efficacy of QQE, a sharp JPY depreciation is unlikely
A note in the Barclays’ “Global FX Quarterly” report says that “any further easing to occur as a reaction to risk events such as a sharp JPY appreciation, a worsening in the inflation outlook, political pressure, or a significant deterioration in the external environment.”
If such a scenario materialized, the slowdown for Japanese brokers that started in September could well last until the end of the year. The main risks to the Japanese yen market are entered in rapid appreciation of the currency as a result of a global risk event which typically boosts the value of the JPY.
“The first action in such an event would likely entail some expansion of the QQE program. While such measures could offset some currency appreciation pressures, they would be unlikely to generate a sharp JPY depreciation given the declining efficacy of QQE,” Barclays’ research on the matter stated.
CFI Obtains Regulatory Approval for South African Operations
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
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#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
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20-22 MAY 2024
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Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
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#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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