Monex Group, Inc. · TSE:8698
Monex — SPAC Merger (July 2023)
25 slides from Monex's SPAC merger presentation, Jul 28, 2023
Slide 1: Financial Results for 1Q of Fiscal Year Ending March 31, 2024
Financial Results for 1Q of Fiscal Year Ending March 31, 2024 July 28, 202 3 Monex Group TSE Prime : 8698
Slide 2: 1. Highlights
EEE ___~_~_~ MONEX GROUP 1 . Highlights
Slide 3: Consolidated and Segment Adjusted EBITDA
Consolidated and Segment Adjusted EBITDA Adjusted EBITDA* on a consolidated basis continues to grow driven by growth in the Japan segment on the back of active Japanese equities market, strong performance in the U.S. segment, and cost controls in the Crypto Asset segment. * Adjusted EBITDA is equal
Slide 4: Business Performance of the Crypto Asset Segment
Business Performance of the Crypto Asset Segment Revenue declined QoQ as the IEO revenue in Q4 came off and the crypto asset market remained subdued, but the management continues to control SG&A appropriately. The crypto asset market is currently recovering and the management expects improvement of
Slide 5: Strategy Overview of Three Major Segments of Monex Group
Strategy Overview of Three Major Segments of Monex Group Each of Monex Securities, TradeStation , and Coincheck has its own solid enterprise value and strategy. Monex Group will continue to strive to make those values evident and secure the sustainable growth of its enterprise value by pursuing thos
Slide 6: II. Consolidated Performance
Ⅱ . Consolidated Performance
Slide 7: Highlights 1Q of FYE Mar. 2024 (3 months)
Highlights 1Q of FYE Mar. 2024 (3 months) The Japan segment recorded higher revenue and income due to the brisk equity market and other factors, while the US segment continues to perform strong. Despite the Crypto Asset segment decreases its revenue and income, c onsolidated pre - tax income was ¥ 2
Slide 8: QoQ Comparison (3 months) Segment Performance
QoQ Comparison (3 months) Segment Performance Investment Asia Pacific Crypto Asset US Japan (JPY million) 2024/3 1Q 2023/3 4Q 2024/3 1Q 2023/3 4Q 2024/3 1Q 2023/3 4Q 2024/3 1Q 2023/3 4Q 2024/3 1Q 2023/3 4Q 211 209 227 248 1,178 1,583 9,796 9,675 8,976 7,589 Total operating revenue after deducting fi
Slide 9: QoQ Comparison (3 months) Analysis: Operating Revenue
QoQ Comparison (3 months) Analysis: Operating Revenue Crypto: Signs of a market recovery despite flat trading volumes. Revenue decreased as IEO related revenue was included in revenue in the previous quarter. Quarterly total operating revenue after deducting financial expenses and cost of sales - 25
Slide 10: QoQ Comparison (3 months) Analysis: SG&A
QoQ Comparison (3 months) Analysis: SG&A Crypto: Total SG&A expenses decreased QoQ as a result of advertising budget management in response to current market conditions. Total SG&A - 7.3 ％ ( - 126 ) *1 Professional fees related De - SPAC: ¥ 111M ( - 62) ■ Other ( - 100) *1 ■ Advertising expenses ( -
Slide 11: YoY Comparison (3 months) Analysis: Operating Revenue
YoY Comparison ( 3 months) Analysis: Operating Revenue Crypto: Signs of a market recovery despite the decrease in trading volumes of crypto assets and NFT related revenue. *1 (JPY million) ■ Other ( - 655) ■ Net trading income ( - 1,329) *1 Total operating revenue after deducting financial expenses
Slide 12: YoY Comparison (3 months) Analysis: SG&A
YoY Comparison (3 months) Analysis: SG&A Crypto: Advertising expenses decreased about 75% YoY, by controlling advertising budget in response to current market conditions. Total SG&A - 40.6 ％ ( - 1,090 ) ■ Other ( - 598 ) *1 ■ Advertising expenses ( - 443 ) ■ Communication, freight and information ex
Slide 13: III. Business Update
EEE ___~_~_~ MONEX GROUP Il. Business Update
Slide 14: Business Update Crypto Asset Segment 1/5
Business Update Crypto Asset Segment 1/5 B2B IEO NFT web3 And more… Exchange/ Marketplace Digital Asset Ecosystem Coincheck NFT *2 ( β) & Oasis Continued to leverage the customer base of Coincheck , a crypto asset trading platform, and offer a wide range of NFTs. Further developed virtual communitie
Slide 15: Business Update Crypto Asset Segment 2/5
Business Update Crypto Asset Segment 2/5 Coincheck is Japan’s premier and trusted crypto assets trading platform. Crypto asset exchange / marketplace *1 Among Japanese crypto asset exchange apps. Term: 2019 - 2022 . Data source: AppTweak *2 Monthly crypto asset trading status table of JVCEA. As of N
Slide 16: Business Update Crypto Asset Segment 3/5
Business Update Crypto Asset Segment 3/5 Diversifying our earnings based on the large retail customer base as a crypto asset trading platform. Coincheck Initial Exchange Offering (IEO) Coincheck is a leading player in the Japanese IEO market, completing the largest number of IEOs 1st IEO - PLT 2nd I
Slide 17: Business Update Crypto Asset Segment 4/5
Business Update Crypto Asset Segment 4 /5 Coincheck Group (CCG) *1 is proceeding with listing procedures. - After the proposed business combination with Nasdaq - listed SPAC, Thunder Bridge Capital Partners IV, Inc. (THCP), CCG will be a public company listed on the Nasdaq exchange in the U.S. (Exte
Slide 18: The crypto asset industry has seen notable recovery in 2023
The crypto asset industry has seen notable recovery in 2023 *1 As of July 20, 2023 *2 Reflects the market cap - weighted average of Cipher Mining, Marathon Digital, Riot Blockchain , and Iris Energy; Source: FactSet 2023 YTD price movement* 1 Recent developments in the crypto sector Business Update
Slide 19: Appendix: Group Overview
EEE ___~_~_~ MONEX GROUP Appendix: Group Overview
Slide 20: Appendix: Highlights 1Q of FYE Mar. 2024 (3 months) 2/3
Appendix: Highlights 1Q of FYE Mar. 2024 (3 months) 2/3 Crypto Asset US ◆ Total operating revenue after deducting financial expenses and cost of sales, and Segment profit (JPY Million) 3,162 1,563 1,063 1,583 1,178 415 - 391 - 748 - 152 - 396 -5,000 5,000 2023/3 1Q 2023/3 2Q 2023/3 3Q 2023/3 4Q 2024
Slide 21: Overview of Monex Group and Main Subsidiaries
■ Coincheck, Inc. (Tokyo, Japan) Crypto asset Exchange/Marketplace agency that is ranked No.1 in crypto asset trading app downloads in Japan for 4 consecutive years. • President: Satoshi Hasuo • Founded in 2012, joined Monex Group in Apr. 2018 • Cryptocurrencies available: Bitcoin (BTC), Ethereum (E
Slide 22: Overview of the Group
Group Overview of the Group Monex International Limited Intermediate holding company Online Brokerage Monex Boom Securities (H.K.) Limited ( HK ) Online Brokerage TradeStation Securities, Inc. Brokerage firm catering to active traders (US) TradeStation Group, Inc. Intermediate Holding Company (US) T
Slide 23: Group Overview - Revenues, Costs, and Employees
Group Overview - Revenues , Costs, and Employees ■ Japan Segment ■ US Segment ■ Crypto Asset Segment ■ Asia Pacific Segment ■ Investment Segment * Refer to the databook for FYE Mar 2023 Total operating revenue after deducting financial expenses \ 73.3 B Selling, general and administrative expenses \
Slide 24: Disclaimer About Coincheck
Disclaimer About Coincheck Important Information About the Business Combination and Where to Find It In connection with the proposed business combination in connection with to the business combination agreement among Coincheck , I nc. (“Coincheck”), Coincheck Group B.V. (“CCG”), Thunder Bridge Capit
Slide 25: Monex Group
MONEX GROUP © Monex Group; Ine. www.-monexgroup.jp/