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Pasona Group Net Sales Fall 2%

January 13 2012

Pasona Group Inc. reported net sales fell 2.1 percent in the first half of its fiscal year to ¥90.88 billion (US$1.17 billion). The Tokyo-based firm ranks No. 12 on Staffing Industry Analysts’ 2011 list of largest global staffing firms.

Pasona’s fiscal year ends May 31, 2012, and the first half of the year ended Nov. 30, 2011.

The company reported that a strong sense of uncertainty continues to cloud the future of the Japanese economy.

“Despite signs of a partial recovery due mainly to reconstruction demand following the earthquake disaster, this uncertainty was largely attributable to the slowdown of overseas economies reflecting turmoil in global financial markets, prolonged appreciation in the value of the yen and the impact of flood damage in Thailand,” the company wrote.

Sales in Pasona’s “expert services” division, which mainly provides general office temporary staffing, fell 7.2 percent in the first half of its fiscal year to ¥61.72 billion (US$791.8 million).

However, place and search sales rose 57.8 percent to ¥1.24 billion (US$16.0 million). Opportunities increased in information technology and other specialized fields, the company reported

Pasona’s outplacement net sales rose by 1.3 percent to ¥593.0 million (US$7.6 million).

Gross margin improved to 18.7 percent in the first half of this fiscal year from 17.8 percent in the same period in the previous year.

The company forecasts full-year revenue of ¥183.00 billion yen, a year-over-year increase of 2.3 percent.

Recently, Pasona announced the acquisition of a majority stake in fellow Tokyo-based staffing firm Caplan Corp.

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