Monex Group Reports Impressive Earning in Q1 Boosted by TradeStation

<p>The Japan-based financial services company Monex Group
released its financial results for the first quarter of the fiscal year ending
March 31, 2024 (April 1, 2023 to June 30, 2023). In the three-month period, the group reported an impressive performance in
profit and revenue after turning around losses from its business in the US. </p><p>Monex’s operating revenue
increased 16% to JPY ¥19
billion (USD $136 million) in the quarter compared to the corresponding period of last year. Its
profit more than doubled as it increased 142% year-over-year to JPY ¥2.3 billion (USD $16.5 million)
during the quarter. Similarly, the company’s earnings per share increased to JPY
¥9.42 from JPY ¥3.58. </p><p>TradeStation
Business Segment </p><p>Monex’s major
revenue segments are the Japanese business segment, the US business
(TradeStation Securities), and the crypto asset segment. In the quarter, TradeStation
Securities reported JPY ¥1.4 billion (USD $10 million) in revenue, an increase from a loss of JPY ¥2 billion (USD $14 million) in the corresponding
quarter of 2022. </p><p>The Japanese
business declined 28% to JPY ¥1.7
billion (USD $12 million), while the crypto asset segment dropped to a loss of JP ¥396
million (USD $2.8 million) from a profit of JP ¥415
million (USD $3 million) in the same period last year. Additionally, Monex’s investments
segment saw an uptick of 35%, while the Asia-Pacific business sank deeper into losses
as it reported a loss of JP ¥45
million (USD $323,000). </p><p>Monex’s Quarterly Expenses</p><p>Monex’s expenses increased 0.71% to JP ¥19.6 billion (USD $13.7 million) during the quarter
compared to the same period last year. The increase was reported despite a
drop in administrative expenses to JP
¥17.3 billion (USD $12.4 million). </p><p>In June, Bloomberg Law reported that Quantum, a special
purpose <a href="https://www.financemagnates.com/terms/a/acquisition/">acquisition</a> company, had dropped its USD $50 million lawsuit against
Monex Group. The SPAC had sued the group for allegedly sabotaging a planned
acquisition deal that could have <a href="https://www.financemagnates.com/forex/brokers/american-broker-tradestation-will-go-public-with-a-spac-merger/" target="_blank" rel="follow">taken
the online broker public</a>. </p><p>Besides that, <a href="https://www.financemagnates.com/institutional-forex/monex-group-unveils-new-changes-to-senior-management/" target="_blank" rel="follow">Finance
Magnates</a> reported that Monex Group had announced <a href="https://www.financemagnates.com/institutional-forex/monex-group-unveils-new-changes-to-senior-management/" target="_blank" rel="follow">changes
in its senior management</a> across Monex, Inc., cryptocurrency trading
platform Coincheck, and Japan Catalyst, among its other subsidiaries, in June. Yuko
Seimei currently leads the executive team as the President, Representative
Executive Officer, and CEO.</p>

This article was written by Jared Kirui at www.financemagnates.com.