Monex Group Revenues in May Fell from April as Trading Volumes Declined

Leading Japanese online broker, Monex Group, today reported its May 2016 revenues which totaled nearly ¥3.62 billion ($34.56 million at today's rates) for last month, representing a decline of ¥215 million ($2.05m) or lower by 5.6% from April.

Monex’s May revenues fell compared to the prior month, declining from ¥3.833 billion ($36.61 million) in April to ¥3.618 billion in May, while the company did manage to save on its financial expenses during the period which had been reduced from ¥322 million in April to ¥309 million in May.

From these figures, operating revenues, after the deduction of financial expenses, totaled ¥3.308 billion in May, lower from ¥3.511 billion reported by the company for April 2016.

Shares of Monex Group Inc, trading under ticker symbol 8698.T on the Tokyo Stock Exchange were up over 1% to ¥253 per share around time of the news.

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May Operating Revenues Dip 5.6%

As its first quarter is still underway for the company’s 2017 fiscal year that ends March 31st 2017, June 2106 will wrap up Q1 for Monex as the month comes to an end next week.

Finance Magnates covered the last quarterly revenues that Monex reported for its Q4 period ending March 31 2016, which had decreased slightly compared to its Q3 results - yet were higher when compared to the same quarter last year.

May has not been as positive, as the company reported daily average revenue trades (DARTs) earlier this month for May decreased by 8.5% compared to April. And compared year-over-year, May’s totals were lower by 13.8%, as reported by Finance Magnates in a related post.

The decline in trading volumes in May appears to have dragged down revenues, a trend that could persist into June with markets pausing ahead of Brexit Brexit Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Read this Term and reduced leverage in the market.

The news follows Monex's last Global Retail Investor Survey that highlighted key market themes and changes in consumer sentiment that may have played a role in the volume decline in May along with seasonal factors as the month has been slower for a number of brokerages and exchanges across the FX world.