Monex Group lost ¥1.569bn attributable to owners in the six months to September 2026, against a ¥4.549bn profit a year earlier. Operating revenue fell 5.9% to ¥38.013bn, and pretax results swung from a ¥7.658bn profit to a ¥2.238bn loss.
Operating weakness in crypto
The digital-asset segment, built around Coincheck and 3iQ, lost ¥5.812bn before tax, against a ¥75mn loss a year earlier. Its operating revenue fell 29.6% to ¥6.156bn. Trading gains dropped 34.2% to ¥3.509bn as retail crypto sales volume at Coincheck fell 35.6% to ¥100.6bn. Exchange volume fell 46.3% to ¥1,075.3bn. Assets under management at 3iQ were down 33.1% in Canadian dollars.
Two accounting charges
The filing books an Aplo SAS impairment of ¥2.962bn (goodwill of ¥1.589bn, other intangibles of ¥1.373bn) under other expenses. Monex says Aplo has decided to end its existing institutional business after demand for crypto brokerage fell, and its recoverable amount was assessed at zero. The decision also includes a policy of using Aplo's trading and custody technology assets in 3iQ's institutional crypto asset management business.
Separately, Monex recorded a ¥3.213bn fair-value charge on contingent consideration tied to Westfield Capital Management, under other financial expenses. The earn-out covers the period to December 2027 and is capped at $38.6mn. The asset management and wealth segment lost ¥1.796bn before tax, against a ¥1.169bn profit a year earlier. Its operating revenue rose 1.3%.
What held up
The securities segment earned ¥5.681bn before tax, down 15.6%, helped by equity-method income from Monex Securities of ¥2.023bn. Monex declared an interim dividend of ¥15.40 per share.