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Japan – Strong demand for professionals boosts Creek & River’s results

02 October 2014

Japanese recruitment firm Creek & River Co. Ltd (4763: JP) reported revenue of 11.8 billion (USD 107.6 million) for the six months ending 31 August 2014, an increase of +12.2% compared with JPY 10.5 million (USD 95.8 million) last year.

Operating profit for the period rose by +25.1% to JPY 928 million (USD 8.5 million), up from JPY 742 million (USD 6.8 million) a year ago. Net income for the year was JPY 529 million (USD 4.8 million), equating to growth of +60.1% from JPY 330 million (USD 3 million) last year.

The company attributed its positive performance to increased demand for professionals, most notably a strong demand for doctors, with revenue in the company’s medical division increasing by +11% compared with last year.

Creek & River Co., Ltd. provides business agency, production, outsourcing, and consultation services in Japan and internationally. It offers dispatching (temporary staffing) and employment placing services; contract production services; rights management services; education and communication services; and management and distribution services for copyright and contents. The company provides its services in various areas comprising television, visual/websites/advertising, publishing/games/sales promotions, and events/e-books. The company was founded in 1990 and is headquartered in Tokyo.

Following the release of its trading statement, the company’s share price closed up +4% at JPY 672 (USD 6.13), an increase of +68.2% compared with last year. Based on its current share price, the company has a market value of JPY 15.2 billion (USD 138.6 million).