Electronic trading company Monex Group Inc (TYO:8698) today provided an update on the progress of its share repurchase program announced in November 2022.

From January 1, 2023 to January 31, 2023, Monex repurchased 2,559,800 shares, worth a total of 1,190,686,458 yen. Let’s note that in December 2022, the broker repurchased 4,026,500 shares.

The broker decided on the share repurchase after comprehensive consideration of the business environment surrounding the group, the performance of its subsidiaries in the U.S. and other countries, the solid financial foundation and other conditions of the group, and the current level of the company’s stock price.

The total number of shares to be repurchased is up to 12.5 million, with the total cost being JPY 5 billion.

The repurchase period is from November 14, 2022 to February 28, 2023.