- Monex net profit skyrockets over 8 times compared to the previous year.
- Strong US and crypto markets drive significant revenue growth.
Japanese financial conglomerate Monex Group announced a substantial 850% increase in net profit for the fiscal year 2024, reaching JPY 31.5 billion.
This impressive growth was accompanied by a 20% rise in operating revenue. The company attributes this success to the robust performance of its US-based brokerage, TradeStation, and its cryptocurrency exchange, Coincheck.
Monex’s strategic focus on expanding into the US and cryptocurrency markets appears to be delivering strong returns.
This marks a significant rebound from the previous year when those same segments presented operational challenges.
The company remains committed to developing its offerings in both traditional and cryptocurrency markets.
Recent moves like acquiring a majority stake in 3iQ, a Canadian crypto asset manager, and investing in its managed account platform, underscore this strategy.
Monex has also expanded its global footprint into Singapore earlier this year.
