Japanese financial services provider Monex Group, Inc., which operates a number of brokerages and a cryptocurrency exchange, has published its financial results for the first quarter of its fiscal year ending in March 2021.
The Japanese-based company has published its financial results on both a Group level and also for its subsidiary Monex, Inc. Monex Group’s fiscal 2021 year stretches for the 12 month period ended on the 31st of March 2021. Therefore, the first quarter of this fiscal year ranges from the 1st of April 2020 until the 30th of June 2020.
The Most Diverse Audience to Date at FMLS 2020 – Where Finance Meets Innovation
Taking a look at the Group’s financial performance first, total revenue came in at ¥14.383 billion ($136.929 million) for the first quarter. When measuring total revenue against the same period of the previous year, the Group has recorded a slight growth of 8.9 per cent.
Contributing the most to total revenues is operating revenues. During the three-month period, the Group posted ¥14.267 billion in operating revenues. This represents a year on year growth of 8.5 per cent.
Quarterly profit for the period was ¥1.419 billion for the Monex Group. This is stronger than the ¥804 million quarterly profit achieved in the first three months of the company’s 2020 fiscal year by 76.5 per cent.
Monex, Inc. posts solid uptick across key metrics
Moving onto Monex, Inc. the Japanese brokerage of the Group, the subsidiary achieved net operating revenue of ¥6.773 billion during Q1 of fiscal 2021. This is higher by 18.8 per cent on a yearly comparison.
Operating income for the first quarter was considerably stronger in fiscal 2021, with the broker achieving a result of ¥868 million. Weighing this against the same period of the prior year, operating income has risen by 66.7 per cent.
Profit for the Japanese broker managed to more than double year-on-year. Specifically, profit has risen from ¥373 million in Q1 of fiscal 2020 by 107.9 per cent to reach ¥777 million in the first quarter of fiscal 2021.
Source: Read Full Article