Monex Group Releases Financials for FY 2019, Reports 4% Decline in Revenues

Karthik Subramanian

Karthik Subramanian has been a professional trader and fund manager over the last 18 years. He is basically a software developer who made the transition to financial domain around 18 years back as the attractiveness of the financial markets proved too much for him. He lives in Chennai in India along with his wife and son. He began his career as a software developer in 1999 and then gradually moved into the financial industry as he began trading stocks in his pastime. He then moved into the financial markets full time and then shifted his focus to the FX markets due to the liquid nature of these markets. Since then, he has been trading FX diligently and his favourite pair are the EURUSD and EURJPY. Over the last couple of years, he has found blockchain to be of high interest and considering his background in software and finance, he has since assembled a team of highly talented developers who have since worked on a variety of projects like crypto exchanges and blockchain architecturing. Now, he balances his time between trading and commenting on both the FX and crypto markets. He has worked with many publications including FX Street and Finance Magnates, which has helped him gain experience and also recognition across the industry. He loves to write and this passion has helped him to reach out across the FX and crypto industry. Right now, he works on his pet projects in the FX and crypto industry and spends his time writing and managing his blockchain team and helping it to reach higher.


Monex Group Releases Financials for FY 2019, Reports 4% Decline in Revenues

April 25, 2019
Monex Group

Japanese retail FX broker, Monex Group, also the owner of Tradestation has released its financial results for the fiscal year 2019. 

Overall, the firm witnessed a minor variation in the operating revenue and profits. The twelve months revenue ending in March of this year came in at 47.4 billion yen ($420 million), which is 4 per cent lower compared to the revenue figures in the fiscal year 2018, which was 49.2 billion yen ($440 million).

The decline in revenue was due to a decrease in revenue from Monex’s Japanese business operations. The firm’s revenue from operation in the East Asian nations came in at 25.7 billion yen ($230 million), which is 11.3 per cent lower from 29 billion yen ($260 million) in the previous fiscal. The company has attributed the lower revenue figures to slump in trading volumes.

The broker attributed its Japanese losses to slump in equities trading and also suffered a 1.7 billion yen ($15.2 million) impairment loss on fixed assets related to some trading technology.

The operating expenses by a large same compared to the previous fiscal. The firm had total operating expenses at 23 billion yen ($206 million) in fiscal 2019, compared to 23.4 billion ($209 million) in fiscal 2018. 

The firm’s US operations reported a positive set of numbers, with revenues increasing by 11 per cent to $174.6 million from $157.3 million last year. Operational expenses increased marginally by $7 million from $148.8 million last year to $155.7 million this year.

The cryptocurrency division of the company, which it started last year reported loss throughout the year. The firm lost 1.7 billion yen ($15.2 million) from its cryptocurrency offerings. The company hopes to make it a profitable affair by integrating it with Coincheck into its wider business operations. The firm is also investing in other cryptos educational material to educated investors. Recently, it has launched a new mobile application called ‘Cheese’, an educational tool for investors.

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