Monex Group Reports Lower
Monex Group Inc. today reported its monthly consolidated financial results for the month of January 2017, which were underpinned by withering figures on both yearly and monthly intervals in what has been its worst month since October 2016, according to a corporate statement.
The Japanese broker’s revenues were quiet steady in November December 2016,financial results where it already managed to climb above ¥4.0 billion threshold for the first time since June 2016. But the figures have now reversed this trend by reporting a revenue of $32.21 million (¥3,660 million) during January 2017 – this was reflective of a loss of -8.6 percent month-on-month from $35.26 million (¥4,002 million)financial results in December 2016.
Over a yearly timeframe, the latest figure was even worst, incurring a decline of -16.5 percent year-on-year from $38.6 million (¥4,381 million) back in January 2016.
Financial expenses also registered a decrease during the month ending January 2017, coming in at $2.9 million (¥327 million). This reflected a fall of -9.1 percent from $3.17 million (¥360 million) in December 2016. Year-on-year, Monex saw a drop of -9.4 percent across this figure when weighed against $3.18 million (¥361 million) last year.
Moving to Monex’s operating revenue after deducting financial results expenses, the company reported the figure at $29.3 million (¥3,333 million), plunging -8.5 percent month-on-month from $32.0 million (¥3,641 million) in December 2016, its worst performance since back in October of last year. When measured against its 2016 equivalent, Monex’s operating revenue was also lower by a factor of -17.0 percent year-on-year from $35.4 million (¥4,020 million) in March 2015.
Earlier this month, Monex reported its January 2017 business metrics revealing marginally improved figures for the month in comparison with December’s decline and generally lukewarm financials during the last few months.
FX trading rebounded materially in the first month of the year as clients of Monex transacted $1.76 billion per day (¥198.5 billion). The number is higher by 41 percent when compared to December, and is relatively flat on a constant currency basis when compared to January 2016.