4 Japan Online Brokers Enjoy Strong Profit Growth
Tokyo, Aug. 4 (Jiji Press)--Four of Japan’s five major online securities firms enjoyed double-digit net profit growth in April-June, as individual investors stepped up stock trading while at home amid the coronavirus pandemic.
SBI Securities Co. saw net profit jump 47.5 pct from a year before to 9.1 billion yen. Rakuten Securities Inc.'s net profit soared 80.0 pct to 2.1 billion yen.
Matsui Securities Co.'s <8628> net profit rose 53.4 pct to 2.1 billion yen and that of Monex Group Inc. <8698> surged 67.9 pct to 1.4 billion yen.
On the other hand, au Kabucom Securities Co. posted a net loss of 200 million yen.
Buoyed by expectations for an economic recovery, Japan’s benchmark Nikkei stock average exceeded 23,000 at one point in early June, after falling below 17,000 in March.
[Copyright The Jiji Press, Ltd.]