Home » Japan’s Monex Posts 14% YoY Q2 Revenue Decline as Crypto Turns Loss

Japan’s Monex Posts 14% YoY Q2 Revenue Decline as Crypto Turns Loss

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Japanese financial services giant monex group (TYO: 8698) generated total revenue of over ¥21.3 billion in the second quarter of fiscal year 2023. That’s almost 4.5% more than the previous quarter, but on a yearly basis he’s down more than 14.1%.

Commission income was 9.6 billion yen, exceeding the 9.0 billion yen recorded in the previous fiscal year. FY2011 Q1 $9.1 billion in the second quarter of 2022. Net trading income of 2.4 billion yen and financial income of 7.3 billion yen brought total operating income for the quarter to 19.96 billion yen, representing an annualized decrease of 9.5%.

The financial group’s quarterly spread increased, even as revenues declined year-on-year. Expenses for the three months from July to September amounted to 20.3 billion yen.

Profit before tax for the quarter was 996 million yen, down from 1,070 million yen in the previous quarter and 7,160 million yen in the second quarter of 2022. After considering taxes, the Japanese group’s net profit fell to his ¥262 million. That’s a decrease of over 73% quarter-over-quarter and a 94.5% year-over-year decrease.

global group

The Monex Group’s business can be divided into four major segments.Crypto Exchange Coincheck, US Online Broker trade stationthe Japanese online broker Monex, and several other brands in the Asia-Pacific region.

Tradestation’s operating income increased $18.6 million quarter-over-quarter, turning a loss in the first quarter into a gain of $3.5 million in the second quarter.Furthermore, American trading platform

trading platform

In the FX space, currency trading platforms are software that brokers offer to their respective customer bases to gain access as traders in the wider market. In most cases, this reflects an online interface or mobile app with tools for order fulfillment. Every broker needs one or more trading platforms to serve their various client needs. The backbone of the services offered by the company, the trading platform provides clients with quotes, selection of instruments to trade, real-time updates of quotes and charts, and is the main front-end that customers face. Use and sometimes customize the platform, or develop your own from scratch. Since its inception in the retail forex trading business, MetaQuotes and its platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5) have become industry standards, especially when it comes to automated trading. , MT5 became more widely adopted. Advanced trading platforms such as MT4 and MT5 also allow access to a wide range of asset classes available for trading. The last decade of trading platform development has failed to successfully replace MT4 and MT5, especially in the retail market. However, in the institutional market, brokerage firms and banking entities also build and utilize their own currency trading platforms to help meet their internal needs in trading conducted through institutional trading channels. platform. Additionally, demand from traders has led to a greater focus on new features such as advanced charting and other tools.

In the FX space, currency trading platforms are software that brokers offer to their respective customer bases to gain access as traders in the wider market. In most cases, this reflects an online interface or mobile app with tools for order fulfillment. Every broker needs one or more trading platforms to serve their various client needs. The backbone of the services offered by the company, the trading platform provides clients with quotes, selection of instruments to trade, real-time updates of quotes and charts, and is the main front-end that customers face. Use and sometimes customize the platform, or develop your own from scratch. Since its inception in the retail forex trading business, MetaQuotes and its platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5) have become industry standards, especially when it comes to automated trading. , MT5 became more widely adopted. Advanced trading platforms such as MT4 and MT5 also allow access to a wide range of asset classes available for trading. The last decade of trading platform development has failed to successfully replace MT4 and MT5, especially in the retail market. However, in the institutional market, brokerage firms and banking entities also build and utilize their own currency trading platforms to help meet their internal needs in trading conducted through institutional trading channels. platform. Additionally, demand from traders has led to a greater focus on new features such as advanced charting and other tools.
read this term
changed its strategy to focus on sophisticated and active traders, resulting in an $8.9 per quarter reduction in advertising spend.

Monex’s crypto business coin check drive, a loss of approximately 400 million yen was incurred during the quarter due to a slowdown in trading activity. However, the group continued to expand its services in this sector.

Japanese financial services giant monex group (TYO: 8698) generated total revenue of over ¥21.3 billion in the second quarter of fiscal year 2023. That’s almost 4.5% more than the previous quarter, but on a yearly basis he’s down more than 14.1%.

Commission income was 9.6 billion yen, exceeding the 9.0 billion yen recorded in the previous fiscal year. FY2011 Q1 $9.1 billion in the second quarter of 2022. Net trading income of 2.4 billion yen and financial income of 7.3 billion yen brought total operating income for the quarter to 19.96 billion yen, representing an annualized decrease of 9.5%.

The financial group’s quarterly spread increased, even as revenues declined year-on-year. Expenses for the three months from July to September amounted to 20.3 billion yen.

Profit before tax for the quarter was 996 million yen, down from 1,070 million yen in the previous quarter and 7,160 million yen in the second quarter of 2022. After considering taxes, the Japanese group’s net profit fell to his ¥262 million. That’s a decrease of over 73% quarter-over-quarter and a 94.5% year-over-year decrease.

global group

The Monex Group’s business can be divided into four major segments.Crypto Exchange Coincheck, US Online Broker trade stationthe Japanese online broker Monex, and several other brands in the Asia-Pacific region.

Tradestation’s operating income increased $18.6 million quarter-over-quarter, turning a loss in the first quarter into a gain of $3.5 million in the second quarter.Furthermore, American trading platform

trading platform

In the FX space, currency trading platforms are software that brokers offer to their respective customer bases to gain access as traders in the wider market. In most cases, this reflects an online interface or mobile app with tools for order fulfillment. Every broker needs one or more trading platforms to serve their various client needs. The backbone of the services offered by the company, the trading platform provides clients with quotes, selection of instruments to trade, real-time updates of quotes and charts, and is the main front-end that customers face. Use and sometimes customize a platform, or develop your own from scratch. Since the beginning of the retail forex trading business, MetaQuotes and its platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5) have become industry standards, especially when it comes to automated trading. , MT5 became more widely adopted. Advanced trading platforms such as MT4 and MT5 also allow access to a wide range of asset classes available for trading. The last decade of trading platform development has failed to successfully replace MT4 and MT5, especially in the retail market. However, in the institutional market, brokerage firms and banking entities also build and utilize their own currency trading platforms to help meet their internal needs in trading conducted through institutional trading channels. platform. Additionally, demand from traders has led to a greater emphasis on new features such as advanced charting and other tools.

In the FX space, currency trading platforms are software that brokers offer to their respective customer bases to gain access as traders in the wider market. In most cases, this reflects an online interface or mobile app with tools for order fulfillment. Every broker needs one or more trading platforms to serve their various client needs. The backbone of the services offered by the company, the trading platform provides clients with quotes, selection of instruments to trade, real-time updates of quotes and charts, and is the main front-end that customers face. Use and sometimes customize the platform, or develop your own from scratch. Since its inception in the retail forex trading business, MetaQuotes and its platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5) have become industry standards, especially when it comes to automated trading. , MT5 became more widely adopted. Advanced trading platforms such as MT4 and MT5 also allow access to a wide range of asset classes available for trading. The last decade of trading platform development has failed to successfully replace MT4 and MT5, especially in the retail market. However, in the institutional market, brokerage firms and banking entities also build and utilize their own currency trading platforms to help meet their internal needs in trading conducted through institutional trading channels. platform. Additionally, demand from traders has led to a greater focus on new features such as advanced charting and other tools.
read this term
changed its strategy to focus on sophisticated and active traders, resulting in an $8.9 per quarter reduction in advertising spend.

Monex’s crypto business coin check drive, a loss of approximately 400 million yen was incurred during the quarter due to a slowdown in trading activity. However, the group continued to expand its services in this sector.

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