Japan-based financial services company Monex Group today released its financial figures for the third quarter of the financial year 2023. The company reported a drop in its operating revenue and profit numbers in Q3.
Between September and December 2022, operating income came in at ¥54.28billion, registering an 18% fall from ¥65.94 billion in Q3 2022. Profit before tax stood at ¥2.5 billion, dropping 87% compared to ¥19.3 billion the previous year.
The fall in numbers was also seen over the nine-month period from April to December 2022, when operating income dropped 15.8% YoY to ¥69,691 million and net profit by 85.2% to ¥1,853 million.
The basic earnings per share year-to-date also fell significantly to ¥7.27 from ¥48.19 reported for the same period in 2021.
Three major segments contribute to the business performance of the group – the Japanese segment, the US segment (TradeStation), and the crypto assets segment. The Japanese business of the group provides stable profits and TradeStation has improved recently. The crypto business has reported losses due to unfavorable market conditions.
Monex Group stated in its financial report:
Operating income in the US Segment (TradeStation) has improved significantly since the strategy change in August 2022. Going forward, in addition to the steady earnings of the Japan and US Segment, the Crypto Asset Segment has profit upside potential when the crypto asset market recovers.
For nine months to December 2022, TradeStation registered a net loss of ¥2,089 million, compared to (3,808) during the previous year.
The crypto sector reported net loss of ¥724, while the previous year, it registered a ¥14,942 million profit.
