Kabu, a subsidiary of Mitsubishi UFJ (MUFJ), has reported preliminary results for its trading volumes and metrics for April 2018. The results show that the firm is continuing to experience a decline in trading volumes, a trend that started in earnest at the beginning of 2018.

The Japanese firm saw a ¥6.7 billion ($60.8 million) decline in over-the-counter FX (OTC) trading volume this month, from ¥29.3 billion ($266.78 million) in March to ¥22.54 billion  ($205.23 million) in April. This was despite the on the site that took place last month.

Futures trading volumes Kabu’s also sunk to a 6-month low in April. While March saw the brokerage firm facilitate ¥45.2 billion ($411.59 million) in futures transactions, this number was only ¥29.79 billion ($271.24 million) in April.

Low Volatility in Japan

Despite the decline in trading volumes, Kabu saw an uptick in users this April. The firm now has 1,089,416 user accounts, up from 1,087,327 in March. Monthly deposits on the company’s also increased by ¥730 million ($6.65 million) to ¥24.09 billion ($219.41 million).  

Kabu’s clients shouldn’t panic, however, as the company’s trading volumes have dipped up and down in the past year, reflecting the changes in volatility in the Japanese market. For instance, the firm saw a OTC FX trading volume of ¥21.54 billion ($196.17 million) in December but this increased to ¥34.45 billion ($313.71 million) just two months later.

Kabu’s declining trading volumes are not unique in Japan. The Tokyo Stock Exchange has also seen thin trading volumes in recent months as the country continues to .