Monex Group’s FY22 Revenue Jumps 21%, Coincheck Profits $110M

Wednesday, 27/04/2022 | 11:11 GMT by Arnab Shome
  • The crypto exchange was the primary revenue driver of the Japanese group.
  • However, Monex witnessed a decline in income.
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Finance Magnates

Japan’s Monex Group, which operates several brokerages and a crypto exchange, reported a 21.5 percent increase in its annual revenue for fiscal 2022, which ended on March 31. It generated a total of 96.3 billion yen in the period.

The operating revenue for the 12 months came in at 88.7 billion yen, whereas the rest was brought in from other income sources. In addition, the yearly expense of the group increased by 29.3 percent to 75.5 billion yen.

Despite the revenue jump, Monex ended the year with shrinkage in its income, mostly due to the higher expenses. The pre-tax profits of the company dropped to 20.8 billion yen from 21.3 billion yen. The net profit for the year came in at more than 13 billion yen.

Monex Group categorizes its business into four key segments: crypto exchange Coincheck, US online broker TradeStation, Japanese online broker Monex and a few other brands in the Asia-Pacific.

Crypto Exchange Is the Crown

Cryptocurrency exchange , Coincheck, continued to be the largest revenue driver of the group. It brought in 28.6 billion yen in revenue, which was the highest amount brought in since the exchange was acquired by Monex. Though Coincheck spent 5.7 billion yen for client acquisition , it still generated 13.9 billion yen in profits.

Monex’s legacy Japanese business followed its crypto division, bringing 12 billion yen in profits. Additionally, it pointed out that this division is witnessing a steady increase in assets under custody.

Meanwhile, the United States business of Monex, which includes the online trading platform TradeStation, generated a loss of 5.6 billion yen due to higher marketing expenses. Finance Magnates earlier reported that TradeStation’s revenue for FY22 declined by 19 percent.

Both Coincheck and TradeStation are going public and have already inked deals with American blank-check companies.

Japan’s Monex Group, which operates several brokerages and a crypto exchange, reported a 21.5 percent increase in its annual revenue for fiscal 2022, which ended on March 31. It generated a total of 96.3 billion yen in the period.

The operating revenue for the 12 months came in at 88.7 billion yen, whereas the rest was brought in from other income sources. In addition, the yearly expense of the group increased by 29.3 percent to 75.5 billion yen.

Despite the revenue jump, Monex ended the year with shrinkage in its income, mostly due to the higher expenses. The pre-tax profits of the company dropped to 20.8 billion yen from 21.3 billion yen. The net profit for the year came in at more than 13 billion yen.

Monex Group categorizes its business into four key segments: crypto exchange Coincheck, US online broker TradeStation, Japanese online broker Monex and a few other brands in the Asia-Pacific.

Crypto Exchange Is the Crown

Cryptocurrency exchange , Coincheck, continued to be the largest revenue driver of the group. It brought in 28.6 billion yen in revenue, which was the highest amount brought in since the exchange was acquired by Monex. Though Coincheck spent 5.7 billion yen for client acquisition , it still generated 13.9 billion yen in profits.

Monex’s legacy Japanese business followed its crypto division, bringing 12 billion yen in profits. Additionally, it pointed out that this division is witnessing a steady increase in assets under custody.

Meanwhile, the United States business of Monex, which includes the online trading platform TradeStation, generated a loss of 5.6 billion yen due to higher marketing expenses. Finance Magnates earlier reported that TradeStation’s revenue for FY22 declined by 19 percent.

Both Coincheck and TradeStation are going public and have already inked deals with American blank-check companies.

About the Author: Arnab Shome
Arnab Shome
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About the Author: Arnab Shome
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
  • 6425 Articles
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