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Radia revenue falls 43.5%

February 20 2009

Radia Holdings Inc., a Tokyo-based company that provides staffing and other services, announced Feb. 13 that revenue fell 43.5% to 188.42 billion yen (US$2.09 billion) year-over-year Dec. 31, the end of the first six months of its fiscal year.

Radia got out of the day labor business on July 31 after some of its operations had earlier been suspended by the Japanese government over worker dispatch violations. Radia also cited tougher employment conditions in Japan with the slowed economy.

The company posted a net loss for the fist six months of 8.77 billion yen (US$97.1 million), compared with a net loss of 759 million yen in the first half of the previous year.

In addition to Japan, the company also has U.S. operations with a majority stake in Radia International. The company was formerly known as the Goodwill Group Inc.

Radia Holdings Inc.
For the six months ended Dec. 31, 2008, compared with the same period in the previous fiscal year.
Revenue: 188.42 billion yen (US$2.09 billion), -43.5%
Net loss: 8.77 billion yen (US$97.1 million) vs. net loss of 759 million yen

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