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View All NewsJapan – BeNext-Yumeshin second-quarter revenue soars as profits report upswing
Japanese technical staffing firm BeNext-Yumeshin (2154: JP), reported revenue today of JPY 82.51 billion (USD 712.7 million) for the first six months ended 31 December 2021, an increase of 119.7% compared with the previous year. Revenue for the second quarter was up 91.3% to JPY 37.91 billion (327.5 million).
On January 2021, Benext announced it is merging with Yumeshin Holdings. The absorption-type merger will see the creation of an engineer dispatching powerhouse.
Q2 Results
| (JPY millions) | Q2 2021 | Q2 2020 | Change | Q2 2021 (USD millions) |
| Revenue | 37,914 | 19,819 | 91.3% | 327.5 |
| Gross Profit | 8,808 | 4,154 | 112.0% | 76.0 |
| Operating Profit | 2,100 | 1,443 | 45.5% | 18.1 |
| EBITDA | 3,921 | 2,028 | 93.3% | 33.8 |
| Net Income | 1,488 | 1,205 | 23.5% | 12.8 |
H1 Results
| (JPY millions) | H1 2021 | H1 2020 | Change | H1 2021 (USD millions) |
| Revenue | 82,515 | 37,563 | 119.7% | 712.7 |
| Gross Profit | 17,879 | 7,266 | 12.3% | 154.4 |
| Operating Profit | 3,125 | 2,300 | 35.9% | 26.9 |
| EBITDA | 7,175 | 3,368 | 113.0% | 61.9 |
| Net Income | 2,384 | 1,796 | 32.7% | 20.5 |
For the second quarter, revenue in the machinery, electronics and IT software segment was up 63.8%. Revenue in manufacturing was up 11.6%. The overseas segment increased by 18.6%.
Looking ahead the company forecasted revenue of JPY 154.00 billion for the year ended 30 June 2022.
The group expects seasonal downward factors on hiring of new graduates. The group also expects additional hiring investment cost of JPY 500 to JPY 800 million (USD 4.32 million to 6.91 million) and post-integration costs such as office relocation of JPY 300 to JPY 500 million (USD 2.59 million to 4.32 million) compared to H1.
BeNext-Yumeshin also announced a merger between its subsidiaries. Informationport Co., Ltd. (IP), Arrow Information Co., Ltd., and SBO Co., Ltd., with effect from 1 April 2022. IP will emerge as the surviving company.
Shares in BeNext-Yumeshin Group closed at JPY 1,702.00 (USD 14.70), up 0.59% on the day and 17.42% below its 52-week high of JPY 2,061.00 (USD 17.80), set on 30 March 2021. The company has a market cap of JPY 153.99 billion (USD 1.33 billion).