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Tough economy sends Pasona revenue down

January 09 2009

Tokyo-based staffing firm Pasona Group Inc. reported today that revenue fell 2.9% year-over-year to 116.09 billion yen (US$1.22 billion) in the first six months of its fiscal year amid difficult economic conditions.

Revenue fell 4.3% in its temporary and direct hire staffing business to 105.16 billion yen (US$1.10 billion).

Pasona's outplacement division, however, reported a 9.8% increase in revenue year-over-year to 2.89 billion yen (US$30.3 million).

Net income fell 80.8% to 203.0 million yen (US$2.1 million).

The company lowered its revenue forecast for the full year by 9.7% to 224.73 billion yen.

Pasona Group Inc.
For the first half of its fiscal year ending Nov. 30, 2008, compared with the same period in the previous year.
Revenue: 116.09 billion yen (US$1.22 billion), -2.9%
Net income: 203.0 million yen (US$2.1 million), -79.6%

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