Monex Group Executive Nobuyuki Idei Passes Away

Monex Group, a Japanese firm that operates several brokerages and a crypto exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term, said that one of its outside directors, Nobuyuki Idei, has passed away. Oki Matsumoto, the Representative Executive Officer and CEO of the Group, made the official announcement.

In the note, Matsumoto highlighted that without Idei, Monex would not have been born, and he was pivotal in the conception stage of the company during the fall of 1998. “In the fall of 1998, I explained Monex, which was still in the conception stage, to Mr. Idei, who was then President of Sony Corporation, and he became the first person to understand the financial services on the Internet, which were still in the unknown stage of development. In the spring of 1999, Monex, Inc. (later to become Monex Group) was born as a venture-funded 50% each by Sony Corporation (at the time) and Oki Matsumoto,” he said.

Idei was appointed Chairman of the Advisory Board in 2006 and as Outside Director in 2013. Since then, Matsumoto commented that Idei was a ‘strong advocate’ in the boardroom for the globalization of Monex Group, their efforts, and entry into businesses such as blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term, and the evolution of their corporate governance.

“My company and I have always respected Mr. Idei’s thinking and actions. And, we are deeply grateful to have had his guidance. I and all the members of our group will continue to hold Mr. Idei’s progressive, open, global and innovative thinking in our hearts and minds so that we can become a company that will please Mr. Idei,” Matsumoto added.

'Idei Award'

In 2005, the Board of Directors of Monex Group established the ‘Idei Award’ to recognize the employee or team within the company that has made the most innovative efforts within the Monex Group that year, and every year up until the end of last year, Idei selected the winners.