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View All NewsJapan – Benext revenue and profits down
Japanese technical staffing firm Benext (2154: JP) formerly known as Trust Tech, reported revenue today of JPY 59.45 billion (USD 543.5 million), a decrease of 5.0% when compared to the prior year.
| (JPY millions) | 9 months 2020 | 9 months 2019 | Change | 9 months 2020 (USD millions) |
| Revenue | 59,453 | 62,605 | -5.0% | 543.5 |
| Gross Profit | 11,356 | 12,759 | -10.9% | 103.8 |
| Gross Margin | 19.1% | 20.4% | - | - |
| Operating Profit | 3,409 | 4,183 | -18.5% | 31.1 |
| Net Income | 2,872 | 1,057 | 171.6% | 26.2 |
The group said the pandemic had weighed in on its results. Revenue in the technical field and overseas businesses decreased slightly.
In January 2021, Benext announced it is merging with Yumeshin Holdings. The absorption-type merger will see the creation of an engineer dispatching powerhouse and see BeNext as the surviving company.
BeNext and Yumeshin are the 17th and 19th largest staffing firms in Japan according to SIA, respectively.
Looking ahead, the company forecasted revenue of JPY 94.80 billion (USD 866.74 million) for the full year ended 30 June 2021.
Shares in Benext closed at JPY 1,381.00 (USD 12.63), up 0.36% on the day and 32.99% below its 52-week high of JPY 2,061.00 (USD 18.84), set on 30 March 2021. The company has a market cap of JPY 124.79 billion (USD 1.14 billion).