Vol.1 : I want to hand off the “baton of challenge” to future leaders
Xross Talk with Yuko Seimei, CEO, Monex Group

　Yuko Seimei marks her three-year milestone since being appointed CEO of Monex Group. After receiving the baton from the founder, she has made a number of tough decisions with an eye to the Group’s future, including streamlining the company’s business portfolio and implementing bold alliance strategies.

“Now that our business path is in place, I want to maximize Group synergies through more open dialogue,” says Yuko. It has been 27 years since the company’s founding, and society, the economy, and the way of doing business in finance are changing dramatically. In such times, Yuko seeks to evolve the “Monex uniqueness” that connects our diverse organization as well as the story of co-creation. We spoke with Yuko to explore her vision of the future and the underlying philosophies and values that drive it.

Xrossing Editorial Team’s interview series where we talk directly with Yuko begins now!

― It has been three years since you were appointed CEO. Please tell us about your focus until now and where you plan to dedicate your energies going forward.

　Right after I was appointed, my first priority was to streamline our business portfolio so that our financial profile was aligned with our ideal business structure.  Through a series of decisions with this goal in mind, I have worked to establish the groundwork necessary for taking on big challenges for the future. With this business structure as our base, my theme now is to create synergies across the entire Group. That is precisely why I believe that we must evolve the “Monex uniqueness” that connects our diverse organization as well as the story of co-creation.

― I really look forward to hearing about your vision for the future and the values that guide where you place importance in your daily life. I hope you don’t mind if I share my first impression at the start of this interview. You seem so energetic, and I could sense that positive energy even in your voice. 

　Thank you so much! Just recently, a communications specialist told me that, “People who speak in a loud voice are often very honest.” The reasoning is that when people are constantly synchronizing their thoughts and words, they often speak in a louder voice. When I heard that, I thought it made sense.
　In this series as well, I want to talk candidly about what I think and value day to day and to convey my true feelings to everyone involved in the Monex Group. 

― Thank you very much. So, let’s begin. Since your appointment in 2023, what thoughts have you held to be important?

　The core strength we have honed since our founding is our ability to adapt and evolve. Ever since I was appointed Group CEO three years ago, I have always cherished the desire to “create the future together.” 
　1999 was the year that the Internet was born. Monex rode that new wave to create online brokerage operations, a totally new business in Japan. 
　Now a quarter of a century later, the Internet has evolved to become like air. With AI accelerating efficiencies and automation, finance is facing a new era. I strongly believe that to continue to evolve, we must take on new challenges without the fear of change.

― In other words, in a rapidly changing era, companies must continue to change, too. 

　Yes, precisely. People who are youthful and energetic regardless of their age have a willingness to constantly  take on new challenges. The same applies for companies.
　When systems and organizations are in place for a long time, new services are added on top, creating a sort of “patchwork” foundation. But this type of patchwork foundation will eventually become distorted and stop working and must be fundamentally rebuilt from scratch. 
　Furthermore, social and economic conditions, as well as the values that customers seek, constantly change with the times. It is not enough to protect and maintain the ways of doing things that succeeded 10 or 20 years ago. The world around us is changing at a tremendous speed, and maintaining the status quo is the first step towards decline. That is precisely why we must always update ourselves and have a strong sense of urgency where we ask ourselves, “If we don’t change now, then when?”

　I would not want to manage a company where I receive the baton that is worth 100 units, then shrink it and pass it on at 80 units with a simple, “You take it from here.” I want to be able to pass the baton in a way that leaves new opportunities for future challengers by being able to say, “I’ve laid the groundwork for the next stage. Now spread your wings and fly even higher.” That is my role as the second president.

― There were a series of big decisions made at Monex, Inc., such as alliance strategies and bold changes in direction.

　  Since being appointed president of Monex, Inc., in 2019, I made a number of big decisions with the company’s future in mind. Firstly, after carefully evaluating the balance between our operating environment and our internal resources, I made selective choices regarding what to focus on and what to let go. In addition, I adopted a new growth strategy called the asset management model to shift from a process-oriented business model that relies primarily on commissions to one that prioritizes increasing our customers’ assets.  
　After becoming Group CEO, our announcement in 2023 regarding the alliance between Monex, Inc., and NTT DOCOMO can be regarded as a symbol of a major shift in our alliance strategy.

― With the partnership with NTT DOCOMO, did you have any doubts about changing the business on which the company was founded?

　Naturally, I wasn't entirely without hesitation. I am sure there were many employees who were surprised and wondering, “Are we going to change something we have always been protecting?” 
　However, it is also true that at the time, Monex, Inc., was not able to provide value to many of the people we wanted to reach, despite our calls for the “democratization of the capital markets.”  I believed that rather than delay a breakthrough because of an insistence to maintain 100% ownership , we would have far greater social impact if we partnered with NTT DOCOMO, which has a huge customer base, and open up the possibility of providing our great services to tens of millions of people.
　We did not decide to “sell our core business.” Rather, our decision refined the spirit of our founding by determining what the essence of our core business is. 

　As a result, our organizational structure changed but we continue to uphold the values and qualities that define Monex. Our highest priorities – our stance to remain sincere to our customers and our desire to uphold our principles – have not changed at all.  Even with our alliances, we make the best choices based on a focus on one question: Will we be able to create a future together that we can be proud of?

　I always prioritize having a medium- to long-term perspective. Management results don’t appear overnight. The true value of a decision may be apparent only after three, five, or even ten years.
 

― So, while valuing immediate results, you are also looking to the company’s future with a long-term perspective.
 

　Yes, that’s right. For example, let’s take the U.S. company TradeStation, which joined the Monex Group in 2011. Acquiring it was a decision that involved a huge investment, but now it is an important pillar supporting the Group’s earnings.
　TradeStation’s advanced trading technologies and platform will most certainly continue to be a strong foundation that will support the growth of the entire Group.
　Because of that decision 15 years ago, we were able to gain the momentum to take on the next challenge. I have a great sense of respect for those who made that decision at the time, and as a person who has taken up the baton, my decision to partner with NTT DOCOMO was a choice for the future. I strongly believe that our stance to not fear new challenges and to continue to evolve is part of Monex Group’s culture.  

― How do you communicate with Oki Matsumoto, the founder?

　atsumoto even before I was formally given the baton. I think with the organization’s future in mind, Oki himself was looking for colleagues who had the courage to speak up and make decisions based on their convictions. 
　Oki is the ultimate entrepreneur and a genius at sowing the seeds of new ideas for the future. Observing him up close, I have come to understand that he is a leader who is capable of taking the present as a starting point while always looking to the future and making decisions based on grand yet achievable visions. 
　On the other hand, compared to Oki, I know myself to be a more organizational and front-line person. I pay attention to whether front-line team members are comfortable and able to harness their potential, and whether the allocation of resources is balanced. Whenever I notice something, I have made it a point to share it frankly with Oki.

　My relationship with Oki is grounded on an accurate and mutual understanding of the differences in our respective areas of expertise and a clear definition of our roles. Oki is a visionary genius who can forecast trends and discover the seeds of new businesses. On the other hand, instead of creating something from scratch, I am good at managing operations that already exist, growing them from 1 to 100 or 1,000 by driving the organization forward. By leveraging these differences, we were naturally able to create a clear division of responsibilities where Oki focuses on discovering new values while I handle day-to-day organizational management to ensure smooth operations.

　To give you more background, when I first took on the role of president of Monex, Inc., Oki and I made two promises. The first is that he would give me full authority over human resources, the key to building an organization. The second was that he would not bypass me and directly convey ideas or instructions to other members. This was to prevent confusion as to what the front-line priorities should be. Oki has respected those boundaries and has placed his trust in me to handle all types of situations. Because of this ongoing trust, we have been able to work together like the wheels of a car.

― Many people may refrain from expressing their opinion to the founder, but what are some specific examples of how you conveyed your thoughts? 

　Oki’s image as a visionary entrepreneur is very strong, and perhaps because of that, many may think that he is not willing to listen to the opinions of others. But that is absolutely not the case.  He listens with an open mind and also lets me know what I need to do. I think we have built a relationship where we can both speak our minds honestly.

　What is important is that both of us place front and center the commitment to choose what is best for the future of our customers, our employees, and all our stakeholders. 
　Even when I proposed a capital and business alliance with NTT DOCOMO for the next stage of growth of our core business, Oki accepted the rationale without any objection. This is because when Oki first founded the company, from the very beginning, he set out a corporate philosophy to deliver financial services to as many people as possible. 
　We should change what needs to be changed to keep up with the times while remaining true to our founding spirit. I believe that is precisely the type of evolution Monex Group should strive for.