Branding Engineer (7352: JP), a Japanese engineering recruitment firm, reported revenue on Friday of JPY 10.05 billion (USD 67.2 million) for the year ended 31 August 2023, an increase of 46.4% when compared to the same period a year ago.

The group noted that this is the first time sales exceeded JPY 10 billion (USD 66.8 million).

Branding Engineer also reported fourth quarter revenue increased by 40.4% year-on-year, or JPY 842 million (USD 5.6 million), to JPY 2.92billion (USD 19.58 million).

Full year results

The group said in the fiscal year ending August 2023, it made its largest-ever growth investment with an eye on medium- to long-term business growth. It focused on investing in human resources, increasing the number of people hired for the year by 56 people, and the amount invested in hiring increased by 55.3% compared to the previous year.

Revenue in the engineer platform service rose by 53.8% in FY 2023 over the year. Revenue in the marketing platform service fell by 13.2% compared to the same period last year. The group also reported an increase in the ‘Other business’ division.

Looking ahead the company forecasted revenue of JPY 13.22 billion (USD 88.4 million) for the year ended 31 August 2024.

Branding Engineer revenue closed on Friday at JPY 1,432 (USD 9.58), down 6.09% on the day. The company has a market cap of JPY 35.40 billion (USD 236.76 million).