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View All NewsJapan – Career Bank revenue slips 2.5% as impact of pandemic continues to weigh in
Japanese staffing firm Career Bank (4834: JP) reported revenue today for the first quarter ended 31 August 2022 of JPY 1.69 billion (USD 11.7 million), a decrease of 2.5% compared to last year.
| (JPY millions) | 9 months 2022 | 9 months 2021 | Change | 9 months 2022 (USD millions) |
| Revenue | 1,691 | 1,735 | -2.5% | 11.7 |
| Gross Profit | 362 | 351 | 3.1% | 2.5 |
| Gross Margin | 20.2% | 20.2% | - | - |
| Operating Profit | 24 | 63 | -61.3% | 0.1 |
| Net Income | 31 | 58 | -46.5% | 0.2 |
The group said the Covid-19 pandemic continued to have an impact on its results. Career Bank reported a decrease in revenue for its temporary staffing business and recruitment business.
In the job support business, revenue and profit exceeded the results for the same period of the previous fiscal year due to an increase in the outsourced business.
In the BPO business, revenue increased from the previous year due to an increase in the number of people processing payroll processing and the number of people processing resident tax year renewal work.
Looking ahead the company forecasted revenue of JPY 7.42 billion (USD 51.2 million) for the year ended 31 May 2023.
Career Bank shares closed at JPY 1,280 (USD 8.84), up 0.39% on the day. The company has a market cap of JPY 1.26 billion (USD 8.7 million).