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Pasona Net Sales Fall 2.6%

July 20 2011

Pasona Group Inc., a Tokyo-based provider of temporary staffing and other services, reported net sales fell 2.6 percent to ¥178.8 billion (US$2.21 billion) in its fiscal year ended May 31.

The company reported temporary staffing net sales of ¥130.7 billion (US$1.62 billion) for the fiscal year. The company did not provide a year-over-year comparison because of a realignment of business divisions. It did say the number of temporary staff remained stagnant amid efforts by Japan’s Health, Labour and Welfare Ministry to increase regulation on temporary staffing as well as difficulties in the wake of the earthquake.

Pasona also reported ¥1.8 billion (US$22.7 million) in direct hire net sales for the year, ¥9.8 billion (US$121.3 million) in outplacement and ¥2.0 billion (US$25.1 million) in overseas staffing net sales.

Full-year gross margin narrowed to 18.8 percent from 20.0 percent in the previous fiscal year. The company posted a net loss of ¥412.0 billion (US$5.1 million) compared with a net loss of ¥204.0 billion in the previous fiscal year.

Pasona forecast net sales would rise by 2.3 percent in the next fiscal year.

Pasona ranked No. 12 on Staffing Industry Analysts’ 2010 list of largest global staffing firms.

Pasona Group Inc.
For the full year ended May 31, 2011 compared with the previous fiscal year.
Net sales: ¥178.8 billion (US$2.21 billion), -2.6 percent
Net loss: ¥412.0 billion (US$5.1 million) vs. net loss of ¥204.0 billion

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