Japanese
financial services firm Monex Group Inc. reported a third-quarter net loss of
¥9.9 billion ($67 million), primarily due to one-time expenses related to its
cryptocurrency subsidiary Coincheck’s Nasdaq listing, even as its core
businesses showed strong performance.
Monex Posts ¥10B Loss on
Coincheck Listing Costs
The company
recorded ¥17.1 billion in one-time expenses related
to Coincheck Group N.V.’s December listing, including ¥13.7 billion in
share-based compensation expenses and ¥3.4 billion in professional fees.
Excluding these costs, the company’s operational performance remained robust,
driven by strong crypto trading volumes and steady brokerage revenues.
Coincheck’s
marketplace trading volume more than doubled to ¥245.6 billion in the quarter,
reflecting broader crypto market momentum. The U.S. segment maintained steady
performance with quarterly profit of ¥1.5 billion, while the Japanese
operations benefited from the strategic alliance with NTT DOCOMO.
The
company’s total assets under custody and management reached ¥12 trillion,
marking significant expansion of its business base. Monex Securities, now an
equity-method affiliate following its partnership with NTT DOCOMO, saw its
mutual fund balance grow to ¥1.96 trillion, up 8% from the previous quarter.
Looking
ahead, Monex Group maintains its focus on achieving a 15% ROE while balancing
growth investments with shareholder returns.
Dividend and Buyback
In a
separate announcement, Monex
declared a special year-end dividend of ¥10 per share, funded by proceeds from
the sale of its Hong Kong subsidiary, Monex Boom Securities. This comes in
addition to the ordinary dividend of ¥15.1 per share, bringing the total
year-end dividend to ¥25.1.
The company
continues to execute its ¥5 billion share buyback program announced in July
2024, having repurchased ¥2.7 billion worth of shares as of January 31, 2025.
Monex maintains its target of achieving a 15% ROE while balancing growth
investments with shareholder returns.
The Crypto Bet
Nearly a
year ago, Monex completed the acquisition of a majority stake in 3iQ Digital
Holdings, a Canadian crypto asset management firm. This deal, first announced
in December 2023, brought 3iQ and its subsidiaries under Monex’s ownership.
To support
3iQ’s growth, Monex invested $7.5 million in its Managed Account Platform
(QMAP). This platform provides institutional investors with access to a variety
of crypto hedge funds, focusing on strategies designed to meet the needs of
global institutions. The investment reinforces 3iQ’s position in institutional
digital asset management.
Additionally,
Monex has introduced a new service in partnership with Tokyo-based NTT Docomo,
allowing customers to purchase mutual funds using credit cards. By integrating
NTT Docomo’s d CARD, users can earn up to 1.1% back in d POINTs on their
monthly mutual fund contributions. Monex expects this rewards system to
encourage regular investments by offering added financial incentives.
This article was written by Damian Chmiel at www.financemagnates.com.
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