Monex Group Registers 19% QoQ Growth in Operating Income for Q1 FY2023/24

Monex Group, a Japanese online trading services provider, has released its financial results for the first quarter of the fiscal year ending March 31, 2024, showing that the company has generated JPY 2.89 million operating income during the period, growing 19% from JPY 2.43 million in Q4 FY2022/23.

The quarterly total operating revenue after deducting financial expenses and cost of sales came in at JPY 20.2 million, up 6% quarter-on-quarter and 14% on a yearly basis.

Profit before income taxes for Q1 FY2023/24 reached JPY 2.85 million, 29% higher over Q4 FY2022/23. On a yearly basis, this figure enjoyed a surge of 165%. Profit attributable to owners of the company was JPY 2.41 million, rising 66% from the previous quarter and 154% from the year-ago quarter.

Consolidated adjusted EBITDA increased 11% quarter-on-quarter and 165% year-over-year respectively to JPY 5.67 million. This was contributed by growth in the Japan segment on the back of active Japanese equities market, strong performance in the U.S. segment, and cost controls in the Crypto Asset segment. 

Selling general and administrative (SG&A) during the period grew 4% from JPY 16.6 million in Q4 FY2022/23 to JPY 17.32 million.

Late last month, Monex Group announced the promotion of Yuko Seimei​ to President, Representative Executive Officer and CEO, responsible for overall management, strategic planning and financial controls.