The Japanese conglomerate reported a rise of 20% in operating revenue.
The company's strong performance was driven by its US and crypto subsidiaries.
Japanese
Monex Group increased its net profit nearly 850% to JPY 31.5 billion in the
fiscal year 2024, compared to the previous period. At the same time, operating
revenue increased 20% to JPY 66.8 billion.
Monex Group Reports over
Eightfold Increase in Net Profit
The report
published on Thursday by Monex, which is currently a conglomerate of several
financial brands, including TradeStation and Coincheck, shows that the company
managed to maintain expenses at comparable levels to fiscal year 2023 while
significantly increasing its revenues.
Total
revenue stood at JPY 84.9 billion compared to JPY 57.6 billion a year earlier.
Total assets held by Monex nearly doubled to JPY 1,504 billion, compared to JPY
761 billion reported a year earlier.
"Monex
Securities has taken advantage of the capital and business alliance with NTT
DOCOMO to capture opportunities for leaping growth," the report stated.
"Monex Group aims to create stable growth in Earnings Per Share through
implementing growth strategies at each operating company and making investments
in growth areas."
TradeStation and Coincheck recorded the strongest growth among all company segments, which are divided into Monex Securities, US Segment (TradeStation), and Crypto Asset Segment (Coincheck).
However, things were not always so rosy. At the beginning of last year, Monex reported lower revenues due to the operations of these two units, which resulted in a net loss.
Monex is
strongly committed to developing its cryptocurrency offering, as
confirmed by the acquisition of a majority stake in the Canadian crypto asset
manager 3iQ. Moreover, it is developing towards offering traditional
assets, having invested $7.5 million in its managed account platform earlier
this week. At the beginning of the year, it expanded its operations to
Singapore, simultaneously hiring a new Head of Sales there.
Japanese
Monex Group increased its net profit nearly 850% to JPY 31.5 billion in the
fiscal year 2024, compared to the previous period. At the same time, operating
revenue increased 20% to JPY 66.8 billion.
Monex Group Reports over
Eightfold Increase in Net Profit
The report
published on Thursday by Monex, which is currently a conglomerate of several
financial brands, including TradeStation and Coincheck, shows that the company
managed to maintain expenses at comparable levels to fiscal year 2023 while
significantly increasing its revenues.
Total
revenue stood at JPY 84.9 billion compared to JPY 57.6 billion a year earlier.
Total assets held by Monex nearly doubled to JPY 1,504 billion, compared to JPY
761 billion reported a year earlier.
"Monex
Securities has taken advantage of the capital and business alliance with NTT
DOCOMO to capture opportunities for leaping growth," the report stated.
"Monex Group aims to create stable growth in Earnings Per Share through
implementing growth strategies at each operating company and making investments
in growth areas."
TradeStation and Coincheck recorded the strongest growth among all company segments, which are divided into Monex Securities, US Segment (TradeStation), and Crypto Asset Segment (Coincheck).
However, things were not always so rosy. At the beginning of last year, Monex reported lower revenues due to the operations of these two units, which resulted in a net loss.
Monex is
strongly committed to developing its cryptocurrency offering, as
confirmed by the acquisition of a majority stake in the Canadian crypto asset
manager 3iQ. Moreover, it is developing towards offering traditional
assets, having invested $7.5 million in its managed account platform earlier
this week. At the beginning of the year, it expanded its operations to
Singapore, simultaneously hiring a new Head of Sales there.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
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!
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FMAS:24 | Sneak Peak
FMAS:24 | Sneak Peak
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africaβs 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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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africaβs 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 π 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
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20-22 MAY 2024
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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
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