Japan – Fullcast Holdings revenue and profits on the rise

Japan-based staffing firm Fullcast Holdings (4848: JP) reported revenue today of JPY 32.74 billion (USD 299.4 million) for the nine months ending 30 September 2019, a 16.1% increase compared to last year.

 

(JPY millions) 9 months 2019 9 months 2018 Change 9 months 2019 (USD millions)
Revenue 32,738 28,204 16.1% 299.4
Operating Profit 5,367 4,302 24.8% 49.0
Net Income 3,618 2,929 23.5% 33.0

 

Fullcast provides short-term human resources placement, payroll service outsourcing and long-term human resources dispatching. In the short-term operational support business, the company supports the following sectors: distribution, warehouse work, relocation, manufacturing, catering, sales promotion, call centres, and offices.

Revenue was up due to the continuing short-term demand for short-term personnel in the core business of short-term business support. The group added that operating income was up, mainly due to increased sales in the short-term business support business.

Earlier this year the company also announced that it entered into a joint venture agreement with Singapore-based Advancer Global. The joint venture will have a registered share capital of JPY 80 million (USD 0.7 million). Advancer said it is planning to develop a human resources service that sends foreign workers to Japan.

The joint venture agreement follows last year’s announcement that Advancer entered into a share subscription agreement with Fullcast.

Looking ahead the company forecasted revenue of JPY 42.3 billion (USD 386.8 million) for the year ended December 2019.

In trading today Fullcast Holdings shares closed at JPY 2,263.00 (USD 20.70), up 0.18% on the day and 9.41% below its 52-week high of JPY 2,498.00 (USD 22.84), set on 15 April 2019. Based on its current share price the company has a market value of JPY 86.94 billion (USD 795.1 million).

Source: Staffing Industry Analysis | Apply: Japan – Fullcast Holdings revenue and profits on the rise

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