Monex Group reports Q1 operating profit despite declines in asset management revenue

TOKYO, Aug 06 (Pulse News Wire) – Monex Group,inc. (8698.T) reported a Q1 operating profit of ¥2.527 billion, down from ¥2.582 billion in the previous quarter.

The securities division led performance gains, while cryptocurrency assets saw trading losses due to reduced transaction volumes and lower asset prices. Asset management revenues declined due to decreased success fees from the Monex Activist Fund but showed growth in managed assets under management (AUM). Digital asset operations experienced a decline in trading income and asset management returns amid falling crypto prices. However, wealth management services remained robust, contributing positively to overall profitability.

The group's total equity ratio stood at 18.3%, reflecting strong capital efficiency. In addition, Monex Group,inc. highlighted strategic priorities for future growth, focusing on expanding digital asset offerings and enhancing wealth management services through organic growth and potential mergers and acquisitions. The firm also emphasized maintaining stable returns for shareholders, with plans to continue share buybacks and dividend payouts.