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Sales Up 3% at Japan Staffing Firm

October 10 2011

Pasona Group Inc., a Japan-based staffing firm, reported a 3.0 percent increase in net sales to ¥45.90 billion (US$597.8) for its fiscal first quarter ended Aug. 31. The firm also raised its sales forecast 1.7 percent to ¥91.50 billion from ¥90.00 billion for the first half of its fiscal year.

Its expert services division, which includes temporary staffing, contracting and human resources consulting posted a 3.4 percent year-over-year increase in net sales for the first quarter to ¥38.65 billion (US$503.3 million). The firm also recorded a 65.4 percent increase in direct-hire sales to ¥571 million (US$7.4 million).

However, Pasona reported a 5.1 percent decline in outplacement sales to ¥2.50 billion yen (US$32.6 million).

Pasona posted net income of ¥111 million (US$1.4 million) compared with a net loss of ¥471 million a year ago.

Pasona ranked No. 12 on Staffing Industry Analysts’ 2011 list of largest global staffing firms.

Pasona Group Inc.
For the quarter ended Aug 31, 2011 compared with the same period in the previous year.
Net sales: ¥45.90 billion (US$597.8 million), +3.9 percent
Net income: ¥111 million (US$1.4 million) vs. net loss of ¥471 million


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