What does Monex Group do with its cash?

Cash vs. profit gap

¥6.89B（純利益の 63.1%）

Shareholder returns

of net income 103.0% · of FCF 87.6%

Shareholder payments — dividends

of net income 93.4% · of FCF 79.5%

CapEx intensity (capex ÷ revenue)

5.9%

Investing CF relative to operating CF

81.8%

Nonpositive profit and free cash flow are omitted as ratio denominators. Amounts use the period's reported currency.

• Operating cash flow is the cash the core business actually brought in, including changes in receivables and inventory.
• Free cash flow = operating cash flow − capital expenditure: a gauge of cash available for other uses.
• Large "borrowing" or "cash drawdown" flows mean the company spent more than it generated that year.