Japanese foreign exchange and binary options brokerage Hirose, which is one of the few companies in the country that has successfully managed to establish and maintain a U.K. regulated entity, intends to get listed in Japan on the JASDAQ Stock Exchange in the middle of March.
This will make Hirose the fourth publicly listed Japanese brokerage from the industry after Monex, GMO Click and Invast Securities.
Back in 2010, Hirose Tusyo, which is incorporated in Japan, announced its intention to form a U.K. based subsidiary and engage in providing trading services in the country. The company has been backing its operations in the country with full regulation and registrations for both its key subsidiaries providing foreign exchange and binary options trading services.
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Not only was the Japanese firm the first to acquire a license from the Financial Conduct Authority (FCA), but it also secured permission from the U.K. Gambling Commission for Hirose Financial’s binary options brand LION Binary Options.
As previously reported by Finance Magnates, the company’s binary options business has been at the core of the company’s revenues. That said, the UK subsidiary’s profitability is yet to materialize as the company’s expenses have far outweighed revenues in 2014, according to the annual report of the firm with the U.K. Companies House.
Hirose could be targeting further expansion of its international business as the firm’s operation in Japan has already been at the core of the firm’s success. Hirose Tusyo has already won an award from Finance Magnates for the best Affiliate Service Provider at the Tokyo Summit in 2014.
The initial public listing is intended for the 18th of March 2016. A company spokesperson was not immediately available for a comment on the upcoming public listing of the company on the Japanese Stock Exchange.