Monex Group registers 4.9% MoM drop in March revenues, plans to acquire 3.6M own shares

Monex Group, Inc. (TYO:8698) has just posted its revenue metrics for March 2016, along with the results for the full fiscal year 2016, with revenues in March down in both monthly and annual terms.

The Forex broker reported monthly operating revenues of JPY 3.89 billion for March 2016, a result which is 4.9% lower than the JPY 4.1 billion reading reported for February 2016, which was also far from the best for Monex. In annual terms, the drop in operating revenues was 24.2%.

Monex also failed to control financial expenses last month, as they rose to JPY 323 million, giving financial expenses of JPY 973 million for the final quarter of the fiscal year and total financial expenses of JPY 4.63 billion for the full year to March 31, 2016.

Although the fourth quarter of the fiscal year was rather weak for Monex, the robust first and second quarter managed to support a growth in revenues in the full year. For the 12 months to March 31, 2016, Monex reported operating revenues of JPY 54.3 billion, up 6.5% from the preceding year, whereas operating revenues after deducting financial expenses grew 9.7% to JPY 49.6 billion.


Monex also announced plans to acquire its own shares. The company aims to acquire up to 3.6 million of its common shares between May 2, 2016 and June 3, 2016. The plan is in line with Monex’s guideline of a 75% total return ratio on a multi-year basis as a shareholder return policy.

For the full announcement on Monex’s March revenues, click here.

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