Monex Group Posts Solid Uptick in Revenue, Profit for Q2 FY21

Monex Group, which operates several brokerages and a cryptocurrency 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, has published its financial results for the second quarter of the 2021 fiscal year, ending on March 31, showing exceptional growth across various metrics.

The Japanese financial service provider published the numbers for both the Group as a whole and also its brokerage subsidiary Monex, Inc.

Considering the Group’s financial statement first, its revenue for the quarter came in at ¥29.529 billion, an increase of 12.8 percent from the previous year’s figures. Moreover, the revenue jumped significantly quarter-on-quarter, given the first quarter’s ¥14.383 billion.

The Group reported a significant increase in the post-tax quarterly profits with ¥2.914 billion. The financial services conglomerate booked ¥1.419 billion in profits in the last quarter, while ¥1.588 billion in Q2 of FY2020.

The Japanese Group’s top subsidiaries include Monex, Inc., its Japanse brokerage platform; US-based online brokerage, TradeStation; Japanese digital currency exchange, Coincheck; and Monex Boom Securities.

It continued to see healthy growth in the user base across all its leading subsidiaries.

Japanese Brokerage Business Is Growing Exceptionally

Now moving to Monex, Inc., the brokerage reported total half-yearly operating revenue of ¥15.142 billion and net revenue of ¥13.291 billion. These figures increased by 15.2 percent and 16 percent, respectively compared with the previous year’s revenues.

The operating income of the brokerage jumped by 60.8 percent to ¥1.503 billion in H1 FY2021. For the first half of the last fiscal year, the brokerage reported an operating income of ¥934 million.

Furthermore, the profits for the subsidiary stood strong for the current fiscal as the half-yearly numbers leaped 70.8 percent year-on-year to ¥1.116 billion.

Meanwhile, Monex continued to expand its services for its clients and will extend its stock-lending services for the margin accounts, Finance Magnates reported recently.