Japan Exchange Group 4Q Result in Line; FVE of JPY 1,690 Reaffirmed
Japan Exchange Group posted an in line fourth-quarter result. Fourth-quarter revenue of JPY 27.3 billion was in line with the third quarter and the usually higher operating expense in the fourth quarter resulted in net profit of JPY 10.3 billion, slightly below the JPY 12.3 billion in the third quarter. For the full year, revenue was JPY 108 billion and largely in line with our full-year forecasts. After an improvement in trading activities post the U.S. election in November, trading volume decl...Japan Exchange Group is a holding company engaged in the provision of financial instrument exchange services. Through its four major subsidiaries, Tokyo Stock Exchange, Osaka Exchange, Japan Exchange Regulation and Japan Securities Clearing, Co. provides market infrastructure for financial instruments including financial instrument exchange. Co. also offers traders and investors reliable venues for trading listed securities and derivative instruments, as well as clearing and settlement services through a central counterparty. Co. was established through the business combination between Tokyo Stock Exchange and Osaka Securities Exchange on Jan 1 2013.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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