01 02 04 06 07 08 10 14 20 23 25 CSR 27 ART IN THE OFFICE 7 28 30 32 36 37 16 17 18 19 sushi 2014 P.27)
DNA MONEXMONEY Y IT IT ANNUAL REPORT 2014 MONEX GROUP, INC. 1
FX M&A12 1999 1999 4 6 5 2000 8 2001 6 2004 8 8 10 2005 5 9 9 WR Hambrecht & Co Japan 11 12 39,223 21,716 2004 3 2013 3 IFRS 691 2000 3 2,999 2001 3 3,281 2002 3 2,766 2003 3 7,800 2004 3 2005 3 2006 3 2 ANNUAL REPORT 2014 MONEX GROUP, INC.
2014 3 1999 5 20 2 894,640 3 1,499 1982 83,167 3,690 BOOM 1997 BOOM 12 156 10,515 1,078 2007 8 MBH America, Inc. 2012 3 TradeStation Group, Inc. 2008 3 2012 3 2008 4 FX 7 7 2010 1 2010 5 10 12 BOOM 2011 6 TradeStation Group, Inc. 11 TradeStation Group, Inc. IBFX 2012 7 8 8 2013 1 2013 4 FX FX 6 33,244 30,497 24,812 22,499 25,227 32,292 36,090 54,722 2007 3 2008 3 2009 3 2010 3 2011 3 2012 3 2013 3 2014 3 ANNUAL REPORT 2014 MONEX GROUP, INC. 3
3 100 5 12 1,000 BOOST P.17 MONEX P.18 P.19 P.14 4 ANNUAL REPORT 2014 MONEX GROUP, INC.
98 89 8 1 2014 3 100 2014 3 2014 3 5,178 P.31 1% 2014 3 29% 70% 38,311 16,062 585 P.08 TradeStation200 6IBFX FX BOOM ANNUAL REPORT 2014 MONEX GROUP, INC. 5
2020 CPI 28,000 24,000 20,000 16,000 12,000 17,500 15,000 12,500 10,000 7,500 2013 12 16,2912014 14,827 1 5,013 141.4 8,000 4,000 0 13/4 13/5 13/6 13/7 13/8 13/9 13/10 13/11 13/12 14/1 14/2 14/3 5,000 2,500 0 FRB NY2013 12 16,576 2014 NY 16,457 17,000 16,000 15,000 14,000 13,000 12,000 11,000 10,000 13/4 13/5 13/6 13/7 13/8 13/9 13/10 13/11 13/12 14/1 14/2 14/3 3 22,0002,000 26,000 24,000 22,000 20,000 18,000 16,000 14,000 12,000 13/4 13/5 13/6 13/7 13/8 13/9 13/10 13/11 13/12 14/1 14/2 14/3 6 ANNUAL REPORT 2014 MONEX GROUP, INC.
2010 3 2011 3 2012 3 2013 3 2014 3 IFRS 22,499 25,227 32,292 36,090 54,722 1 3,776 1,992 1,422 3,901 10,354 2 374,688 365,730 535,663 682,193 929,431 3 66,310 71,025 72,459 79,667 80,701 EBITDA 4 5,428 5,336 6,179 12,715 20,465 (ROE) % 5 7.1 2.9 2.0 5.0 12.9 1 6 8 221.39 221.54 240.93 265.84 280.52 1 7 8 15.27 6.47 4.67 13.02 35.76 1 8 7.00 5.00 2.00 4.10 18.00 2013 3 (IFRS) 1 2 3 4 IFRS 5 6 17 1 8 2013 10 11 1002010 3 DARTs DARTs DARTs 5 20 1,000,000 400,000 25% 800,000 320,000 20% 600,000 240,000 15% 400,000 160,000 10% 200,000 80,000 5% 0 2012 3 2013 3 2014 3 0 2012 3 2013 3 2014 3 0% 2012 3 2013 3 2014 3 ANNUAL REPORT 2014 MONEX GROUP, INC. 7
2012 12 974 117.1 23,94084.4 8,48544.4 FX5,74811.2 38,31158.6 19,17316.1 2,288 2,210 19,49751.3 MONEX INSIGHTFX MT4 NISA IPO 2017 3 19.6 1.2pt 1 4 99.1 76.4 2013 12 2 2014 2 NISA 2014 3 9.6 2014 4 10 3 2014 3 IPO 316 58 IPO 152 2SBI 5 2012 3 2013 3 2014 3 21,567 24,151 38,311 58.6 986 878 1,851 110.8 16,742 16,510 19,173 16.1 132 6,089 2,210 63.7 62 36 0 99.5 3,646 12,888 19,497 51.3 8 ANNUAL REPORT 2014 MONEX GROUP, INC.
DARTs 175,3193.4 16,06237.0 5.215,290 13.9 2,388 BtoB 4EBITDA Option Flat Fee 27 Unbundled Pricing 20 TradingApp TM Store 8004,300 DARTs 2012 3 2013 3 2014 3 8,644 11,727 16,062 37.0 693 1,593 2,818 76.9 8,884 13,423 15,290 13.9 59 2,485 342 993 5,775 2,388 20 BOOM DARTs1,34229.4585 51.1 71049.4 138 BOOM 2012 3 2013 3 2014 3 454 387 585 51.1 3 1 3 138.7 437 475 710 49.4 0 18 10 14 107 138 20 ANNUAL REPORT 2014 MONEX GROUP, INC. 9
100 12 CEO 1,000 1999M&A 10 ANNUAL REPORT 2014 MONEX GROUP, INC.
2014 3 CEO 20132014 FRB 2014 3 2014 34EBITDA 2011 BtoB 2014 351.6547 15.2350 165.4104 2014 3 2012 3 20132014 ANNUAL REPORT 2014 MONEX GROUP, INC. 11
FXFX 2013 3 MONEX INSIGHT2013 5 2013 12 2014 2 2015 3 2015 BtoB GMC Global Management Committee CEO COO CFO CAO CQO CSOCPO 2017 3 2014 4 12 ANNUAL REPORT 2014 MONEX GROUP, INC.
IT 11 6 2 3 ROE ANNUAL REPORT 2014 MONEX GROUP, INC. 13
2011 6 CEO 24 24 FX 2424 Tdex+NYSE Technologies 2010 ToSTNeT Tdex+ 2011NASDAQ OMX 2011 6 8 CEO http://www.monexgroup.jp/jp/group/global_vision/ceo_message_20110608 14 ANNUAL REPORT 2014 MONEX GROUP, INC.
2012 3 BtoB 2017 3 CPO CPO ANNUAL REPORT 2014 MONEX GROUP, INC. 15
P.17 P.18 P.19 3 16 ANNUAL REPORT 2014 MONEX GROUP, INC.
121,000 5 BOOST 20082013 BOOST 992 2014 3 305 616 71 7% Being the BEST Taking OWNERSHIP Thinking OUTSIDE the box SAVINGS and efficiency Doing the right THING 62% 31% P.2 M&A M&A 6 3 Voice BOOST BOOST BOOST BOOST BOOST BOOST ANNUAL REPORT 2014 MONEX GROUP, INC. 17
MONEX MONEX MONEX TradeStationIBFXBOOM 3 MONEX IT Voice Giant Step1999 MONEX MONEX MONEX PR 47 30 26 14 TradeStation Charles Schwab Interactive Brokers TD Ameritrade E*TRADE Source: Investment Trends, 2013-5 18 ANNUAL REPORT 2014 MONEX GROUP, INC.
2011.14 BOOM 12 156 BOOM Voice 30 & Technical Analysis of Stocks & Commodities 3 10 StockBrokers. com 3 2 Barron s 2 2001 2003 IPO 2005 2011 2012 KKR 2013 BOOM 12 6 12 6 HKDRMB USDJPY SGD AUD ANNUAL REPORT 2014 MONEX GROUP, INC. 19
ANNUAL REPORT 2014 MONEX GROUP, INC. 20 IT 2013 6 11 6 54 32 32
ANNUAL REPORT 2014 MONEX GROUP, INC. 21
201322 200624 300 3.0 96 153 95 56 1 4 2 2 1 45 34 9 0 2 64 64 0 9 1. 2. 201322 3. CEO 1995 10 ( ) 22 ANNUAL REPORT 2014 MONEX GROUP, INC.
ANNUAL REPORT 2014 MONEX GROUP, INC. 23 12 1 2 3 4 FXCFD 5 6 7 8 9 10 11 12 IT
ANNUAL REPORT 2014 MONEX GROUP, INC. 24 1. 2. 1. 2. 2014 8
CSR IT MONEXMONEY Y IT 27 FX ANNUAL REPORT 2014 MONEX GROUP, INC. 25
CSR 2008 ART IN THE OFFICE ART IN THE OFFICE P.27 http://www.monexgroup.jp/jp/company/art_in_ the_office/index TradeStation Cares The School Supply Drive Thanksgiving Food Drive Angel Tree Holiday Gift Drive Beach Clean-up excursion Beach Clean-up excursion 3 2014 856 MONEX Thanksgiving Food Drive MONEX2011 6 13 Angel Tree Holiday Gift Drive 16 22 100 MBA 26 ANNUAL REPORT 2014 MONEX GROUP, INC.
ART IN THE OFFICE 7 2008 ART IN THE OFFICE 2014ART IN THE OFFICE 2014 75 sushi 2014 sushi 2 3 19902009 4 20141 CAF ANNUAL REPORT 2014 MONEX GROUP, INC. 27
1987 1990 1994 11 1994 11 1998 11 1999 2004 2004 2005 2010 2011 2011 2013 2013 11 1977 L.P. TradeStation Group, Inc. 2001 10 2006 2006 2006 12 2006 12 2008 2009 2009 2011 2013 1991 1998 1999 2004 Deutsche Bank Securities, Inc. 2007 MBH America, Inc. CEO & President 2009 2011 TradeStation Group, Inc. 2011 2013 1988 Arthur Andersen LLP 1994 IVAX Corporation 1996 12 TradeStation Group, Inc. 1999 2007 2012 2013 1989 10 1997 1999 2003 2004 2005 2007 2009 2009 2013 28 ANNUAL REPORT 2014 MONEX GROUP, INC.
1981 1992 12 2000 2005 2006 2011 2011 1995 RHJ International TradeStation Group, Inc. 1996 12 2002 2003 2004 11 CEO CEO 2006 CGM BI.Garage 2009 DG 2011 2012 2012 econtext ASIA Limited 2013 Open Network Lab 2014 CEO 1960 1995 2000 2003 2006 2006 2006 2007 2007 2007 2011 2013 1987 1987 1990 1998 11 Accenture plc I CONCEPT Lenovo Group Limited 2009 11 2011 2011 R&K Company 2013 1981 1988 1994 Alphametrics, Inc. 1999 Netyear Group, Inc. 1999 2000 2013 2014 2014 2014 1986 1992 12 1995 2004 2014 CEO COO 1 CAO= 2 CQO= 3 CSO= CFO CAO 1 CQO 2 CSO 3 ANNUAL REPORT 2014 MONEX GROUP, INC. 29
54,722 36% 1% 9% 4% 15% 3% 5% 8% 3% 4% 8% 70% 29% 1% 1% 1% ANNUAL REPORT 2014 MONEX GROUP, INC. 30 CFO 2014 3 ROE CFOQ&A 2014 3 51.61999 54,722 FX 2014 3 37.0% 16,062 14 4 EBITDA 20 BOOM 51.1 585 2014 3 51.6 15.2 34,981 141.4 16,895 165.410,354 16.1% 19,173 2017 3
CFO 2012 2 2012 7 9 2014 3 41 3,500 BOOM FX 2014 3631 IPO 2013 6 3050 50 DOE 1 2014 3 1 718 2013 5120,000 5,514 2014 3 1 11 1 2013 10 1 15.0% 10.0% 5.0% 0.0% 2014 380,701 ROE 20.0 15.0 10.0 5% 4% 3% 2% 2014 3ROE 7.912.9 5.0 1% 15 0.0 0% ANNUAL REPORT 2014 MONEX GROUP, INC. 31
http://www.monexgroup.jp/jp/ir_library/financial_report/index 2012 4 1 2013 3 31 2013 4 1 2014 3 31 20,367 33,542 6,974 8,011 8,195 12,583 554 587 36,090 54,722 4,855 2,305 1,759 59 36 0 42,740 57,086 2,320 4,672 30,359 34,981 46 99 3,016 439 35,742 40,191 6,998 16,895 3,091 6,539 3,907 10,356 3,901 10,354 6 2 3,907 10,356 13.02 35.76 2012 4 1 2013 3 31 2013 4 1 2014 3 31 3,907 10,356 3,305 2,349 2,519 1,960 143 51 23 837 268 4,744 10,624 4,738 10,622 6 2 4,744 10,624 32 ANNUAL REPORT 2014 MONEX GROUP, INC.
2013 3 31 2014 3 31 51,193 85,442 349,837 426,719 4,078 2,458 753 1,613 18,551 8,390 149,487 178,230 44,583 152,382 22,950 28,864 1,485 1,579 37,394 41,558 826 861 61 247 995 1,089 682,193 929,431 7,604 7,378 39,745 36,308 67,661 183,765 231,164 287,385 131,535 158,869 113,381 159,125 2,099 4,280 88 156 2,072 5,629 5,418 3,810 1,726 2,026 602,492 848,731 10,394 10,394 40,521 40,510 22,079 22,856 6,673 6,941 79,667 80,701 35 79,702 80,701 682,193 929,431 ANNUAL REPORT 2014 MONEX GROUP, INC. 33
2012 10,394 40,521 18,808 5,351 485 0 5,836 75,558 248 75,806 3,901 3,901 6 3,907 2,519 3,305 51 837 837 837 3,901 2,519 3,305 51 837 4,738 6 4,744 629 629 629 219 219 629 629 219 848 201331 10,394 40,521 22,079 2,833 3,789 51 6,673 79,667 35 79,702 10,354 10,354 2 10,356 1,960 143 2,349 23 268 268 268 10,354 1,960 143 2,349 23 268 10,622 2 10,624 5,514 5,514 5,514 5,514 5,514 4,064 4,064 4,064 5,514 5,514 11 11 37 47 11 9,578 9,588 37 9,625 201431 10,394 40,510 22,856 872 143 6,138 74 6,941 80,701 80,701 34 ANNUAL REPORT 2014 MONEX GROUP, INC.
2012 4 1 2013 3 31 2013 4 1 2014 3 31 6,998 16,895 3,116 3,441 2,524 1,231 10,683 10,117 5,688 1,482 46,234 32,180 14,605 8,886 36,934 62,900 36,034 67,582 354 1,032 640 1,119 26,404 12,026 8,174 11,928 2,231 4,069 50 4,088 20,510 8,256 100 400 100 20,342 12,771 25,038 23,458 517 765 2,958 4,026 905 46 259 2 36 401 5,960 23,834 14,403 9,986 87,516 2,772 27,500 16 47 5,514 629 4,053 41 30,395 35,998 10,286 33,703 38,674 50,140 1,181 1,012 50,140 84,855 ANNUAL REPORT 2014 MONEX GROUP, INC. 35
2014 3 31 8698 287,680,500 100 51,461 4 1 3 31 3 31 9 30 6 2013 10 1 1100 1100 56,223,300 19.54 18,556,000 6.45 11,723,500 4.08-8,377,000 2.91 7,492,000 2.60 6,016,200 2.09 5,720,000 1.99 CBLDN THREADNEEDLE SPECIALIST INVESTMENT FUNDS ICVC-GLOBAL EQUITY 5,123,600 1.78 INCOME FUND 4,910,700 1.71 385036 4,740,000 1.65 2014 4 7 0 0.00% 56,223,30019.54% 2014 5 2 57,536,10020.00% (%) 23.41 26.54 30.93 23.39 29.00 9.84 3.50 14.94 3.76 9.11 4.62 9.98 4.83 9.03 3.91 50.87 30.43 31.12 36.08 33.77 24.32 24.20 25.69 24.29 12.38 2010 3 2011 3 2012 3 2013 3 2014 3 180,000 600 150,000 500 120,000 400 90,000 300 60,000 200 30,000 100 0 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 2009 2010 2011 2012 2013 2014 0 2013 10 11 1002009 1 36 ANNUAL REPORT 2014 MONEX GROUP, INC.
2014 6 30 URL 2004 8 CEO 10,393 102-0083 2-4-1 www.monexgroup.jp FX 1999 4 2004 7 2005 11 12,200 1,800 100 FX 2005 9 2006 4 113 91 M A OpenIPO TradeStation Group, Inc. TradeStation Securities, Inc. IBFX, Inc. 2000 1 1995 9 2010 6 Salomon Sredni William Cahill Gary Weiss FX TradeStation Technologies, Inc. 1982 9 Salomon Sredni Monex International Limited Monex Boom Securities (H.K.) Limited BOOM 2010 8 1997 3 Nick Tang ANNUAL REPORT 2014 MONEX GROUP, INC. 37