Monex Group’s profit reaches 7.2 billion yen

News on October 29, Japanese brokerage and cryptocurrency exchange operator. Monex Group announced its financial report for the second quarter of this fiscal year.

The report shows that its revenue and profits have increased significantly year-on-year. Revenue for the quarter was 24.8 billion yen, 64% higher than the second quarter of 2020. The group’s pre-tax profit also surged 238% to 7.2 billion yen.

However, from a quarterly perspective, these two figures fell by 9.1% and 36%, respectively. The group’s net profit for the quarter was 4.7 billion yen.

It is reported that Monex Group’s business can be divided into four key areas: cryptocurrency exchange Coincheck, American online broker TradeStation, Japanese online broker Monex, and several other brands in the Asia-Pacific region.

The main driver of the group’s revenue is still the booming cryptocurrency demand in Japan.

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