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Monex to Pay Dividend to Shareholders, Releases August Metrics

By:
FX Empire Editorial Board

Japanese FX broker Monex Group plans to pay dividends to its shareholders for the second quarter of its financial year. The company also revealed the

Monex to Pay Dividend to Shareholders, Releases August Metrics

Japanese FX broker Monex Group plans to pay dividends to its shareholders for the second quarter of its financial year. The company also revealed the financial impact of its sale of MT4 client accounts that were held by its subsidiary, IBFX, to FXCM early September.

Monex expects the sale to translate into a capital loss valued at US$16 million (1.7 billion yen), which will shave off US$14 million off its net income for this fiscal year through March 2015. Most of the loss was recorded in the second quarter.

Monex’s U.S. business goodwill is as shown: Before the transfer the goodwill was $97 million (10.5 billion yen), while after transfer, the goodwill is expected to drop to $83 million (9 billion yen).

The company also reported that its U.S .business suffered a pretax loss of US$800,000 in the first quarter of this fiscal year due to the MT4 business, which justifies why it sold the MT4 accounts.

Monex plans to pay its shareholders 1.2 yen per share, compared with 11 yen per share a year earlier. The company also reported its trading metrics for the month of August 2014, which showed that operating revenues fell 1.8 percent from July. The operating revenue in August 2014 was 3.86 billion yen, compared with 3.93 billion in July this year. However, the revenues were 1.5 percent higher than those earned in August 2013.

The company recorded financial expenses of 465 million yen, an increase of 3.8 percent from last July and up 38 percent from August 2013.

 

About the Author

FX Empire editorial team consists of professional analysts with a combined experience of over 45 years in the financial markets, spanning various fields including the equity, forex, commodities, futures and cryptocurrencies markets.

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