Japanese online trading broker Monex Group, Inc. (TYO:8698) has just unveiled plans to launch a shareholder benefit program.
The purpose is to make Monex shares more attractive to hold and to promote better understanding of the business of the broker amid shareholders and non-shareholders.
The program will cover shareholders who own at least 1,000 shares (i.e. 100 shares unit) which are under custody in the brokerage accounts of Monex, Inc., the Japanese subsidiary of Monex Group, as of September 30 and March 31 each year.
Eligible shareholders will receive a cashback according to the amount of brokerage commission for cash trading (including the amount of consumption tax, etc.) paid during a defined period in each shareholder’s brokerage account or “Raku-raku account” of Monex, Inc. The size of the cashback is determined according to the number of shares at the reference date.
The shareholder benefit program will begin for the shareholders who deposit the shares of the Company in the brokerage account of Monex, Inc. as of September 30, 2015.
The news of the shareholder benefit program comes just a month after Monex concluded a one month share buyback, acquiring 3,546,200 shares for a total of JPY 1.16 billion.
To view the official announcement by Monex, click here.