Japan's online brokerages hit by sluggish retail trading
Three out of four major Japanese online brokerages are expected to report weaker earnings on a net basis for the April-September half, as a lackluster market kept individual investors away.
Fee revenues from stock trading dropped on the year at all four companies. Matsui Securities' parent-only net profit apparently fell 40% to 5.2 billion yen ($50 million), with Kabu.com Securities' profit seen down 40% to around 3.1 billion yen.
Monex Group is seen with a 200 million yen loss, compared with last year's 3.5 billion yen profit, as expenses for upgrading its core system weighed on earnings.
Meanwhile, SBI Securities likely secured a 10% year-on-year rise in net profit to just under 14 billion yen. While stock trading by individual investors remained sluggish, sales of investment funds helped offset this to a degree.