Monex Group’s Revenues Rebound Higher in February

Monex Group Inc. has reported its monthly consolidated financial results for the month ending February 2017, which were underpinned by withering figures on both yearly and monthly terms in what has been its worst month since October 2016, according to a corporate statement.

The Japanese broker’s revenues had been in decline for three straight months, with January representing its worst performance since October 2016. Looking at February 2017 however, the group managed to secure a rebound, reporting an operating revenue of $35.6 million (¥3,960 million), up 8.2 percent month-over-month from $32.9 million (¥3,660 million) in January 2017.

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Over a yearly timeframe, the latest figures were virtually unchanged, incurring a marginal decline of -1.1 percent year-over-year from $36.0 million (¥4,009 million) back in February 2016.

Financial expenses again registered a decrease during the month ending February 2017, coming in at $2.76 million (¥307 million). This corresponded to a fall of -6.1 percent from $2.94 million (¥327 million) in January 2017. Year-over-year, Monex did see an increase of this figure of 6.6 percent when weighed against $2.59 million (¥288 million) in February 2016.

Moving to Monex’s operating revenue after deducting financial expenses, the company reported the figure at $32.85 million (¥3,653 million) in February 2017, growing 9.6 percent month-over-month from $29.97 million (¥3,333 million) in January 2017. When measured against its 2016 equivalent, Monex’s operating revenue was also lower by a factor of -4.1 percent year-over-year from $34.25 million (¥3,810 million) in February 2016.

Trading Volumes in Decline

Earlier this month, Monex reported its February 2017 business metrics that saw a mixed performance across its FX segment. Monex’s Daily Average Revenue Trades (DARTs) incurred a decline on a month-over-month basis, falling -4.0 percent to 262,809 in January 2017. This figure is also substantially lower than its previously yearly reading, which was lower by -25.8 percent year-over-year from 354,366 in February 2016.