Published On: Thu, Oct 8th, 2009

Tokyo Stock Exchange Group Reports Q1 Results

The Tokyo Stock Exchange Group reported 1st quarter financial results for the fiscal year ending March 2010 July 30, 2009

Listing-related revenue was up 31% from the same period of the previous year due to an increase in listing fees, which was caused by a series of large-scale capital increases through public offerings by listed companies. However, trading participation fees and settlement-related revenue were down 25% and 32%, respectively, due to factors such as an approximately 30% decrease in stock trading value from the previous year. System-related revenue was down by 86%, which was mainly attributable to the fact that, this quarter, we did not achieve large system development-related sales such as those derived from dematerialized stock certificates during the same period of the previous year. As a result, operating revenue was down 30% to JPY 14.9 billion from the previous year.

On the other hand, operating expenses were down by 26% to JPY 11.3 billion from the previous year. While there was an increase in depreciation costs, this occurred as a result of a decrease in costs such as system maintenance/operating expenses and labor costs, as well as the fact that expenses such as initial system development costs, which had been recorded with system-related revenue during the same period of the previous year, were not posted in the operating expenses.

As a result, operating profit during the quarter was down 41% to JPY 3.59 billion from the previous year. Current profit adjusted by non-operating revenues and expenses including receipts of dividend income from the Singapore Exchange Limited was down 37% to JPY 4.08 billion from the previous year. After deducting corporate taxes and others, net profit for the quarter was down 20% to JPY 2.99 billion.

Article Source: TSE Website

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