Quarterly financial results of Subsidiary (Monex, Inc.)TOKYO, January 31, 2018 – Monex Group, Inc. (TSE 8698, Oki Matsumoto, Representative Executive Officer andCEO) reported today the following quarterly financial results of its wholly-owned subsidiary, Monex, Inc., for therd
3 quarter of the fiscal year ending March 31, 2018 prepared in accordance with the generally accepted accounting
principles in Japan.
rdFinancial results for the 3 quarter of the fiscal year ending March 31, 2018 (From April 1, 2017 to December 31,2017)(1) Results of operations(Unit: million yen)

For the 3rd quarter ending
December 31, 2017

Operating

Net operating

Operating

Ordinary

revenuerevenueincomeincomeProfit24,487

21,918

4,175

4,215

2,945

22,07019,520

585

610

1,144

11.0

12.3

612.9

590.1

157.4

For the 3rd quarter ending
December 31, 2016
Change (%)(2) Financial condition(Unit: million yen)
Total assets

Net assets

As of December 31, 2017693,326

52,039As of March 31, 2017606,589

50,074(Please refer to Appendix for more details)
Contact:

Akiko Kato, Toshiaki Koike
Corporate Communications OfficeMonex Group, Inc.
+81-3-4323-8698

Atsushi Demoto, Yuki Nakano
Investor Relations, Financial Control Department
Monex Group, Inc.
+81-3-4323-8698

This material is an English translation of a Japanese announcement made on the date above. Although the Company intended tofaithfully translate the Japanese document into English, the accuracy and correctness of this English translation is not guaranteed
and thus you are encouraged to refer to the original Japanese document. This translation was made as a matter of record only anddoes not constitute an offer to sell or to solicit an offer to buy securities in the U.S.

Appendix
１．Quarterly Financial Statements(1) Balance Sheets(Unit: million yen)
As of March 31, 2017

As of December 31, 2017

Current assets
Cash and deposits

62,82382,394

Cash segregated for customers and others

273,417

307,522

Money held in trust

54,114

58,124

Trading assets

14,723

16,685

Trading securities and other

1,226

5,656

Derivatives

13,496

11,028

147,653

168,088

138,499

158,979

9,153

9,108

Margin transaction assets
Loans on margin transaction
Cash collateral pledged for securities
borrowing on margin transaction
Cash paid for offering

877

2,335

Short-term guarantee deposits

21,60925,061

Accrued revenue

3,347

3,363
3,998

Deferred tax assets

480
33

Other current assets

6,021

6,198

Short-term loans receivable

Allowance for doubtful receivables
Total current assets

--0

-0

585,103

673,772

Non-current assets
Property, plant and equipment

798

757

Intangible assets

19,37017,638Investment and others

1,317

1,158

Investment securities

484

500

Long-term guarantee deposits

483

465

Deferred tax assets

250

104

Other212

176

Allowance for doubtful receivables-112-90

Total non-current assets

21,486

19,554

Total assets

606,589

693,326

This material is an English translation of a Japanese announcement made on the date above. Although the Company intended tofaithfully translate the Japanese document into English, the accuracy and correctness of this English translation is not guaranteed
and thus you are encouraged to refer to the original Japanese document. This translation was made as a matter of record only anddoes not constitute an offer to sell or to solicit an offer to buy securities in the U.S.

(Unit: million yen)
As of March 31, 2017

As of December 31, 2017

Current liabilities
Trading liabilities

5,424

6,800

Derivatives

5,424

6,800

Trade date accrual

402

4,934

Margin transaction liabilities

40,66445,273

Borrowings on margin transaction

13,113

15,532

Cash received as collateral for securities
lending on margin transaction

27,55029,741Loans payable secured by securities

50,06045,030

Deposits received

145,322

188,298

Guarantee deposits received

199,318

220,047

Short-term loans payable

32,90050,400Current portion of long-term loans payable

10,60019,000126176Deferred tax liabilities-317

Other current liabilities

4,619

2,984

489,440

583,263

65,70056,7007-65,70756,700

1,367

1,323

1,367

1,323

556,515

641,286

Common stock

12,20012,200Capital surplus

32,35932,569Retained earnings

4,272

6,062

Owners’ equity

48,83250,831

Net unrealized holding gains (losses) on
securities

1,242

1,208

Accumulated other comprehensive income

1,242

1,208

Total net assets

50,07452,039Total liabilities and net assets

606,589

693,326

Allowance for point services

Total current liabilities
Non-current liabilities
Long-term loans payable
Other non-current liabilities
Total non-current liabilities
Statutory reserve
Financial instruments transactions reserve
Total statutory reserve
Total liabilities
Net assets

This material is an English translation of a Japanese announcement made on the date above. Although the Company intended tofaithfully translate the Japanese document into English, the accuracy and correctness of this English translation is not guaranteed
and thus you are encouraged to refer to the original Japanese document. This translation was made as a matter of record only anddoes not constitute an offer to sell or to solicit an offer to buy securities in the U.S.

(2)Statement of income(Unit: million yen)
Nine months ending

Nine months ending

December 31, 2016

December 31, 2017

(From April 1, 2016

(From April 1, 2017

to December 31, 2016)

to December 31, 2017)

Operating revenue
Commission revenue

11,57012,688

9,588

10,613

Underwriting and distribution

100156

Subscription and distribution

Brokerage commission

315

285

Other commissions

1,566

1,633

Net gain on trading account

3,447

2,839

Financial income

6,8868,261

Other operating revenue

165

698

Total operating revenue

22,07024,487

Financial expenses

2,550

2,569

19,52021,91818,934

17,743585

4,175

Non-operating income

3145

Non-operating expenses

65

610

4,215

-

61

Reversal of financial instruments
transactions reserve

519

44

Reversal of allowance for loss on
cancellation of outsourcing contract

508-

Gain on redemption of investment
securities

72-

1,099

105

Head office transfer cost-

32

Loss on disposal of Property, plant andequipment

2119

System migration expenses

130-

Loss on cancellation of outsourcing
contracts

70-

Total extraordinary loss

Net operating revenue
Selling, general and administrative
expenses
Operating income

Ordinary income
Extraordinary income
Compensation income

Total extraordinary income
Extraordinary loss

22252

Income before income taxes

1,487

4,268

Income taxes - current

89812

Income taxes - deferred

254

511

Total income taxes

343

1,323

1,144

2,945

ProfitThis material is an English translation of a Japanese announcement made on the date above. Although the Company intended tofaithfully translate the Japanese document into English, the accuracy and correctness of this English translation is not guaranteed
and thus you are encouraged to refer to the original Japanese document. This translation was made as a matter of record only anddoes not constitute an offer to sell or to solicit an offer to buy securities in the U.S.

２．Supplementary information(1) Brokerage commissions(Unit: million yen)
Nine months ending December 31, 2016

Nine months ending December 31, 2017

(From April 1, 2016

(From April 1, 2017

to December 31, 2016)

to December 31, 2017)

Stocks and ETFs

9,258

10,361

Options and Futures

3302529,588

10,613

Total brokerage commissions(2) Trading value of stocks and ETFs

(Unit: million yen)
Nine months ending December 31, 2016

Nine months ending December 31, 2017

(From April 1, 2016

(From April 1, 2017

to December 31, 2016)

to December 31, 2017)

Cash

5,065,591

6,652,423

Margin4,922,681

5,388,104

Total

9,988,723

12,040,528

This material is an English translation of a Japanese announcement made on the date above. Although the Company intended tofaithfully translate the Japanese document into English, the accuracy and correctness of this English translation is not guaranteed
and thus you are encouraged to refer to the original Japanese document. This translation was made as a matter of record only anddoes not constitute an offer to sell or to solicit an offer to buy securities in the U.S.

(3) Statement of income for each quarter(Unit: million yen)
1Q of FYE

2Q of FYE

3Q of FYE

4Q of FYE

1Q of FYE

2Q of FYE

3Q of FYE

Mar. 2017

Mar. 2017

Mar. 2017

Mar. 2017

Mar. 2018

Mar. 2018

Mar. 2018

3,969

3,564

4,037

3,808

3,916

4,084

4,688

3,294

2,9113,382

3,094

3,290

3,322

3,999

26

30

4435

5120

30

Operating revenue
Commission revenue
Brokerage commission
Underwriting and distribution
Subscription and distribution

130

90

94

126

8877

119

Other commissions

517

532

516

551

531

563

538

Net gain on trading account

1,308

1,077

1,061

1,051

882

921

1,035

Financial income

2,573

1,870

2,442

2,672

2,888

2,392

2,979

85

47

32

27

28

26

643

Total operating revenue

7,937

6,559

7,573

7,559

7,715

7,424

9,347

Financial expenses

1,025

553

972

547

1,024

568

976

Net operating revenue

6,912

6,006

6,601

7,012

6,691

6,856

8,370

6,255

6,182

6,495

6,804

5,789

5,769

6,184

Operating income or loss

656

-176

105

208

902

1,086

2,186

Non-operating income

16

6

8

7

10

28

7

Other operating revenue

Selling, general and administrative
expensesNon-operating expenses

2

12

17

1

12

670

-171

112

198

911

1,112

2,190

-

--

810

61-

-

Reversal of financial instruments
transactions reserve

519

-

--

44-

-

Reversal of allowance for loss on
cancellation of outsourcing contract

508

-80

80-

---

Gain on redemption of investment
securities

--

72-

--

-

1,027-80

152810105--

Head office transfer cost

-

--

-

32-

-

Loss on disposal of Property, plant andequipment

21-

--

-

-

19

System migration expenses

--

130

1,017---

Loss on cancellation of outsourcing
contracts

-

70-

--

-

-

2170

130

1,017

32

-

19

Ordinary income or loss
Extraordinary income
Compensation income

Total extraordinary income
Extraordinary loss

Total extraordinary loss
Income or loss before income taxes

1,675-322

134

-8984

1,112

2,171

Income taxes - current

146-126

70-32292

517

Income taxes - deferred

207

38

874

288

68

154

353-88

78

70

290

361

671

1,322-234

55

-79

693

751

1,499

Total income taxes
Profit or loss

This material is an English translation of a Japanese announcement made on the date above. Although the Company intended tofaithfully translate the Japanese document into English, the accuracy and correctness of this English translation is not guaranteed
and thus you are encouraged to refer to the original Japanese document. This translation was made as a matter of record only anddoes not constitute an offer to sell or to solicit an offer to buy securities in the U.S.