Monex incurs 828 million yen loss

Online brokerage house Monex Inc. said Thursday it incurred an unconsolidated pretax loss of 828 million yen in the first half of the 2002 business year, up from a loss of 416 million yen a year earlier.

The poor performance in the April-September period was due largely to the slump in the stock market, especially since mid-May. That slump has caused a 14.9 percent year-on-year drop in unconsolidated operating revenues to 1.45 billion yen, Monex said.

With the weak stock market discouraging individual investors, Monex saw brokerage commissions fall 12.5 percent to 1.28 billion yen.

The Tokyo-based company also reported a net loss of 859 million yen, compared with a loss of 468 million yen a year earlier. Net loss per share rose from 311.22 yen to 562.98 yen.

Monex did not disclose its earnings outlook for the full year.

In 2001, the company chalked up an unconsolidated pretax loss of 1.2 billion yen and a net loss of 1.41 billion yen on operating revenues of 3.28 billion yen.