JPX Revenues Increased YoY in 2019 Despite Weak Performance

Although operating revenue increased during the 2019 fiscal year, other key financial indicators fell.

The Japan Exchange Group (JPX) has published its consolidated financial results for its fiscal year ended March 31, 2019. Although operating revenue increased year-on-year, other key financial indicators didn’t perform so well for the Group.

During the financial year, which spans from April 1, 2018, until March 31, 2019, operating revenue was ¥121.1 billion ($1.08 billion). When measuring this against the previous year, which reported operating revenue of ¥120.7 billion, this is slightly higher by 0.4 percent.

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Trading Services Revenue Falls on JPX

Breaking down operating revenue, trading services revenue contributed ¥48.66 billion. This is lower by around 6 percent against the same period of the previous year, which had a trading services revenue of ¥51.77 billion.

According to the report, the fall in trading services revenue was mainly caused by a drop in transaction fees thanks to an annual dip in the trading of cash equities and derivatives. Transaction fees, basic fees, and trading system facilities usage fees, all contribute to trading services revenues.

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The total revenues generated from derivatives trading in the 2019 fiscal year was ¥11.16 billion. This represents a decline of 5.2 percent when measured against the same period of the previous year.

Clearing services revenue, on the other hand, managed to rise on a year-on-year comparison by 5.6 percent from ¥23.47 billion in the 2018 fiscal year, to ¥24.79 billion in the most recent financial period.

Net income, however, was lower on a year-on-year comparison. Specifically, net income for the 2019 fiscal year was ¥49.5 billion, which is down by 2.2 percent from the ¥50.6 billion net income recorded in the 2018 fiscal year.

Income before income tax was ¥70.79 billion for the year ended March 31, 2019, falling by 3 percent from ¥72.99 in the previous year, which in turn was up 20.4 percent year-on-year.

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