FNG Exclusive… FNG has learned that Hirose Financial UK Ltd has seen a 50% decline in Revenue in its Fiscal 2022 year, from £696,159 in 2021 to £348,627 in 2022. (The company has a March 31 fiscal year end, so the figures are for the 12 month period ended March 31, 2022).

The company turned a modest profit in FY 2022, £59,039 versus £464,915 the previous year.

Despite the decline in activity, Hirose UK saw client deposits rise during the year, from £1.03 million in 2021 to £2.0 million as at 31.3.2022.

The principal activity of Hirose Financial UK Ltd is as an online provider of retail foreign exchange trading and related services. It offers trading on MT4 and LION Trader. The company said in the filing that it operates in a “very competitive market”, and that it will continue to seek more opportunities in the B2B market, acquiring more professional traders.

Hirose UK is the FCA regulated arm of Hirose Tusyo Inc (TYO:7185), an Osaka, Japan based Retail FX broker doing about $200 billion in monthly trading volumes.