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View All NewsJapan – Dip Corp first quarter revenue up slightly, but profits sink
Japan-based staffing firm and job board Dip Corp (2379: JP) reported revenue today for the first quarter ended 31 May 2021 of JPY 9.22 billion (USD 83.3 million), an increase of 0.6% compared to the same period last year.
The group said the spread of the coronavirus continued to have a spillover effect on client companies’ job advertisements.
| (JPY millions) | Q1 2021 | Q1 2020 | Change | Q1 2021 (USD millions) |
| Revenue | 9,226 | 9,168 | 0.6% | 83.3 |
| Operating Profit | 1,856 | 2,803 | -33.8% | 16.7 |
| Gross Profit | 8,166 | 8,366 | -2.4% | 73.7 |
| Gross Margin | 88.5% | 91.2% | - | - |
| Net Income | 1,204 | 1,930 | -37.6% | 10.8 |
In terms of costs and expenses, the company made investments in human resources such as in recruiting new graduates as well as in advertising in anticipation of a rapid recovery of the job market due to the progress in vaccination rollout.
Looking ahead Dip Corp forecasted full year revenue of JPY 42.8 billion to 49 million (USD 386.4 million to 442.4 million) for the year ended 28 February 2022.
Shares in Dip Corp closed today at JPY 3,290.00 (USD 29.70), down 2.81% on the day and 9.86% below its 52-week high of JPY 3,650.00 (USD 32.95), set on 14 June 2021. The company has a market cap of JPY 203.57 billion (USD 1.83 billion).