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View All NewsJapan – Increased costs dampen Creek & River’s Q1 net income
Japanese staffing firm Creek & River (4763: JP) reported revenue for the first quarter ending 31 May 2015 of JPY 6.4 billion (USD 51.9 million), an increase of 4.6% compared with JPY 6.1 billion (USD 49.6 million) during the same quarter last year.
Q1 2015 | Q1 2014 | Change | |
Revenue | JPY 6,369 million | JPY 6,092 million | +4.6% |
USD 51.9 million | USD 49.6 million | ||
Gross Profit | JPY 2,157 million | JPY 2,029 million | +6.3% |
USD 17.6 million | USD 16.5 million | ||
Net Income | JPY 245 million | JPY 349 million | -29.8% |
USD 2 million | USD 2.8 million |
The company reported an increase of 17% in sales, general, and administrative expenses in Q1 2015, compared with a year ago.
Creek & River provides business agency, production, outsourcing, and consultation services in Japan, China, and Korea. It offers temporary staffing and employment placement services for the Creative sector; mainly for film/TV, game programming, and advertising industries. The company also provides medical staffing services.
Revenue by business segment was broken down as follows:
Q1 2015 | Q1 2014 | Change | |
Creative Japan | JPY 3,830 million | JPY 3,507 million | +9.2% |
USD 31.2 million | USD 28.6 million | ||
Creative Korea | JPY 968 million | JPY 822 million | +17.8% |
USD 7.9 million | USD 6.7 million | ||
Medical Services | JPY 895 million | JPY 887 million | +0.9% |
USD 7.3 million | USD 7.2 million | ||
Other | JPY 676 million | JPY 876 million | -22.8% |
USD 5.5 million | USD 7.1 million |
The “Other” segment relates to the company’s IT, legal, and accountancy business.
In trading today, the company’s share price closed down 1.6% at JPY 620 (USD 5.05), an increase of 43.6% compared with a year ago. Based on its current share price, the company has a market value of JPY 14 billion (USD 114 million).