Monex Group to reward shareholders with bitcoins, revamps leadership board with new appointees

Japanese financial services giant Monex Group revealed it would be granting Bitcoins as a mid-term shareholder benefit for the fiscal year of 2019.

As per an announcement, the benefit will be granted together with the existing benefits the company offers. It is applicable to shareholders who are holding the company’s stock as at the end of this month.

For Coincheck account shareholders, Monex will give an equivalent of ¥500 ($4.65) in Bitcoin. This translates to 0.00049 BTC or 49,000 satoshis.

However, Monex will determine if it will still continue granting cryptocurrency as part of the shareholders' benefit after March 31, 2020, which is the end of the fiscal year.

To receive the benefit, shareholders are required to open accounts in Coincheck and complete the application in the “Shareholder Benefit Application Site” by 11:59 PM on March 31, 2020, “in order to receive 500-yen equivalent cryptocurrency BTC in early April 2020.”

Other than the BTC subsidy, shareholders with brokerage accounts of Monex Inc. will be offered “Monex Points,” where one point is equivalent to ¥1.

The firm pointed out that the reward points are only applicable to “shareholders who own 100 shares (i.e. 1 shares unit) or more which are under custody in the brokerage accounts of Monex, Inc… as of September 30 or March 31 each year, and who trade at least once per the referred period. The above only applies to the Company’s shares by cash trading, not by margin trading.”

Monex pointed that eligible shareholders will receive Monex Points based on the amount of brokerage commission paid for cash trading of any symbols within the stated period, including the amount of consumption tax. The number of points is also determined depending on the number of shares held at the reference date.

Other than giving out bitcoins and points, Monex Group has also revamped its leadership board. Particularly, it named Yuya Asamura as the firm’s new executive director starting Oct. 1. He is the Group’s current General Manager of the Strategic Planning Office.

Naoyuki Kainuma has also been appointed as an executive director and general manager of the CEO office at Monex Group.

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