LeapRate has learned via regulatory filings that Hirose Financial UK Ltd., the FCA regulated arm of Japanese retail forex brokerage group Hirose Tusyo Inc (TYO:7185), saw its Revenues tumble by 47% in Fiscal 2017 (year ended March 31, 2017) to just £496,000, down from £928,000 last year.
Hirose UK also reported a net loss of £611,000 in Fiscal 2017.
The Hirose Group globally does about $200 billion in monthly trading volumes, making Hirose a mid-size Japanese broker.
Hirose UK is licensed by both the FCA, as well as the UK Gambling Commission for its Binary Options product.
To differentiate itself from what is becoming a very crowded FCA regulated Forex and CFD brokerage market, Hirose UK decided to focus most of its efforts (very evident from its Home Page, above) in promoting regulated Binary Options trading. At the beginning of this latest fiscal year the company rolled out a new binary options platform called LION Binary Pro.
However that bet doesn’t seem to be paying off for Hirose UK, at least not yet, evidenced by the drop in activity over the past year.
Hirose UK’s Fiscal 2017 income statement follows: