Monex Group’s FY22 Revenue Jumps 21%, Coincheck Profits $110M

Japan’s Monex Group, which operates several brokerages and a crypto exchange, reported a 21.5 percent increase in its annual revenue for fiscal 2022, which ended on March 31. It generated a total of 96.3 billion yen in the period.

The operating revenue for the 12 months came in at 88.7 billion yen, whereas the rest was brought in from other income sources. In addition, the yearly expense of the group increased by 29.3 percent to 75.5 billion yen.

Despite the revenue jump, Monex ended the year with shrinkage in its income, mostly due to the higher expenses. The pre-tax profits of the company dropped to 20.8 billion yen from 21.3 billion yen. The net profit for the year came in at more than 13 billion yen.

Monex Group categorizes its business into four key segments: crypto exchange Coincheck, US online broker TradeStation, Japanese online broker Monex and a few other brands in the Asia-Pacific.

Crypto Exchange Is the Crown

Cryptocurrency exchange Cryptocurrency Exchange A cryptocurrency exchange is an online platform that supports the exchange of various currencies for a cryptocurrency or digital asset.Comparable to a generalized financial exchange, a crypto exchange’s core function is to permit and encourage the buying and selling of cryptos.This is accomplished by producing a stable trading environment suitable for traders nested through different locations around the world. Sometimes a crypto exchange may be referred to as a digital currency exchange (DCE) f A cryptocurrency exchange is an online platform that supports the exchange of various currencies for a cryptocurrency or digital asset.Comparable to a generalized financial exchange, a crypto exchange’s core function is to permit and encourage the buying and selling of cryptos.This is accomplished by producing a stable trading environment suitable for traders nested through different locations around the world. Sometimes a crypto exchange may be referred to as a digital currency exchange (DCE) f Read this Term, Coincheck, continued to be the largest revenue driver of the group. It brought in 28.6 billion yen in revenue, which was the highest amount brought in since the exchange was acquired by Monex. Though Coincheck spent 5.7 billion yen for client acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term, it still generated 13.9 billion yen in profits.

Monex’s legacy Japanese business followed its crypto division, bringing 12 billion yen in profits. Additionally, it pointed out that this division is witnessing a steady increase in assets under custody.

Meanwhile, the United States business of Monex, which includes the online trading platform TradeStation, generated a loss of 5.6 billion yen due to higher marketing expenses. Finance Magnates earlier reported that TradeStation’s revenue for FY22 declined by 19 percent.

Both Coincheck and TradeStation are going public and have already inked deals with American blank-check companies.