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Pasona Revenue Falls 2.5%

April 18 2011

Pasona Group, a Tokyo-based staffing firm, reported revenue fell
2.5 percent in the first nine months of its fiscal year on a year-over-year basis
to 132.66 billion yen (US$1.62 billion). The firm reported no major damage to its
branches as a result of the March 11 earthquake.

Gross margin was 18.5 percent in the nine months ended Feb. 28,
2011, compared with 19.7 percent in the first nine months of the previous year.
Pasona’s fiscal year ends May 31.

Pasona reported a net loss of 334 million yen (US$4.1 million)
compared to a net loss of 1.40 billion yen in the same period of the previous fiscal
year.

The company forecast full-year net sales of 186.00 billion yen,
unchanged from an initial forecast made in July.

“Looking toward the future, the demand for personnel is extremely
difficult to forecast,” the company wrote in its earnings announcement released
earlier this month. “In addition to the devastation caused by the earthquake, conditions
are clouded with uncertainty due to a variety of factors including the shortage
of electricity and other essentials, the anticipated deterioration in consumer sentiment
as well as trends in the yen and foreign exchange markets.”

The company said it may update the forecast as more information
becomes known.

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

Pasona Group Inc.

For the nine months ended Feb 28, 2011, compared with the same
period in the previous year.
Revenue: 132.66 billion yen (US$1.62 billion), -2.5 percent
Net loss:  334.0 million yen (US$4.1 million) vs. net loss of 1.40 billion yen

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