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Monex Group Witnesses 850% Surge in Net Profit

Monex Group Witnesses 850% Surge in Net Profit

IMAGE: Monex Group Chairman and CEO Oki Matsumoto poses at the company’s headquarters in Tokyo’s Akasaka district


Japanese Monex Group saw a substantial surge in net profit, nearly 850%, reaching JPY 31.5 billion for the fiscal year 2024, compared to the previous period. Concurrently, operating revenue experienced a 20% increase, totaling JPY 66.8 billion.

The report released by Monex on Thursday, now a conglomerate of various financial brands such as TradeStation and Coincheck, reveals the company’s adept management of expenses while significantly boosting revenues, maintaining a comparable level to fiscal year 2023.

Total revenue soared to JPY 84.9 billion from JPY 57.6 billion the previous year, with total assets held by Monex nearly doubling to JPY 1,504 billion compared to JPY 761 billion reported a year earlier.

“Monex Securities has capitalized on the capital and business alliance with NTT DOCOMO to seize opportunities for substantial growth,” the report emphasized. “Monex Group is committed to fostering stable growth in Earnings Per Share by implementing growth strategies across its operating companies and investing in growth areas.”

TradeStation and Coincheck emerged as the top performers among all company segments, including Monex Securities, the US Segment (TradeStation), and the Crypto Asset Segment (Coincheck).

Despite recent success, challenges loomed earlier. At the start of the previous year, Monex experienced lower revenues attributed to the operations of TradeStation and Coincheck, resulting in a net loss.

Monex remains dedicated to expanding its cryptocurrency offerings, evident in its majority stake acquisition in the Canadian crypto asset manager 3iQ. Additionally, it is moving towards offering traditional assets, having invested $7.5 million in its managed account platform earlier this week. Its expansion into Singapore, coupled with the appointment of a new Head of Sales, underscores its commitment to growth initiatives.

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