Launched in 2012 by the large Japanese brokerage Hirose, Hirose Financial UK was opened to expand the broker’s reach to a global audience based on an FCA licence. Recently filed, Hirose UK’s latest annual report shows that the main driver for growth is its Lion binary options brand – launched in March 2014 under the UK Gambling Commission’s regulation.
For the year ending March 31st, 2015, the Hirose UK’s annual report showed revenue of £410,893 versus £214,708 in the same period last year. However, high expenses of £1,242,158 (up from £984,396 the previous year), primarily advertising costs, drove the company’s net results down substantially to the red as they showed a £831,044 loss for the year (worse than 2014’s £768,827 loss).
The addition of binary options helped Hirose UK gain significant traction with clients, opening 27,637 new accounts during the year, over 221% more than 2014’s 8,604 figure. The report also explains that binary options services comprised 58% of the company’s turnover during the period.
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Due to the above, Hirose UK says that the binary options service is now a major part of its sales and marketing strategies. The company continued to develop its binary options offering such as the launch of an Android OS mobile app in September 2014, in addition to the browser-based platform.
The company’s auditor adds that Hirose UK had a cash balance of £504,396 at the end of the year (up from £266,109 the previous year), with no external debt approaching maturity. It continues to have strong financial support from its Japanese parent company which is committed for the foreseeable future. During the year, the company also issued shares for capital totaling £1,000,000.