Japanese FX giant MONEX Group quarterly revenue decreases by half in Q2 2014


Japanese FX giant MONEX Group has today released preliminary results for the second quarter of 2014, which depict a substantial decline in net revenue when compared to the first quarter of the year.

MONEX Group concluded the second quarter of 2014 with a net revenue of 500 million Yen ($4.92 million), compared to 1,094 million Yen ($10.77 million) during the first quarter of this year.

In the domestic market, it has become clear that Japanese FX firms have not been able to sustain the stratospheric revenues which they achieved at the unprecedented high points of last summer, with MONEX Group’s results during the past nine months attesting to this dynamic, especially with regard to exchange-traded FX. The company has been subject to a prolonged period during which each quarter since the fourth quarter of 2013 has concluded with the company achieving just half of its previous quarter’s results.

The final quarter of last year drew to a close with the company having netted 2,544 million Yen ($25 million). When looking back to the somewhat nostalgic period of global success for many brokerages last summer, MONEX Group had achieved an astonishing 5,144 million Yen ($50.6 million) in the second quarter of 2013, with the results from the same period this year being a mere shadow of the second quarter of last year.

Furthermore, the figures for the first quarter of this year are by no means representative of MONEX Group’s previous performance, with the last quarter of 2013 having generated a net income of 2,544 million Yen ($25 million) for the company.

MONEX Group’s wholly owned subsidiary MONEX Inc experienced an equally difficult quarter, during which although net assets increased slightly, net income was down to 789 million Yen ($7.773 million) which is almost a total decrease in revenues, as during the same quarter ended June 30 last year, the company achieved 3,761 million Yen ($37 million) in net revenues.

Such a stark decline in fortunes is apparent here, however the company is not alone in its downturn, especially during a period when volumes have been at their lowest point in 20 years in certain regions.

Capture

results

 

Related News

arrow

Japanese FX giant MONEX Group quarterly revenue decreases by half in Q2 2014

0

Send this to a friend