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View All NewsJAC Recruitment full year revenue and profits on the rise
Japanese staffing firm JAC Recruitment (2124: TYO) reported revenue on Wednesday for the full year ended 31 December 2023 of JPY 34.47 billion (USD 229.5 million), an increase of 13.3% compared to the previous year.
| (JPY millions) | FY 2023 | FY 2022 | Change | FY 2023 (USD millions) |
| Revenue | 34,475 | 30,435 | 13.3% | 229.5 |
| Gross Profit | 31,821 | 28,043 | 13.4% | 211.8 |
| Gross Margin | 92.3% | 92.1% | - | - |
| Operating Profit | 8,215 | 7,044 | 16.6% | 54.7 |
| Net Profit | 5,978 | 5,029 | 18.9% | 39.8 |
JAC Recruitment provides recruitment services to local enterprises and multinationals in Japan, the United Kingdom, and the rest of Asia. The company provides skilled permanent employees ranging from assistant level personnel to executives and various specialists. It also offers Japanese speaking and multilingual specialists, as well as online job listing services.
Domestic recruitment business sales increased 14.0% year-on-year due to an increase in the number of consultants in line with business expansion. The domestic job advertising business decreased 9.7% year-on-year due to hiring restrictions by foreign companies. At the same time, the overseas business segment saw revenue increase by 9.7% as business performance continued to recover, mainly in Europe.
Looking ahead the company forecasted revenue of JPY 40.04 billion (USD 266.56 million) for the year ended 31 December 2024.
JAC Recruitment shares closed on Wednesday at JPY 681.00 (USD 4.53), down 1.58% on the day. The company has a market cap of JPY 122.84 billion (USD 817.79 million).