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Japan – Healthcare staffing provider SMS Co. reports revenue up 7%

01 February 2022

Revenue rose 7.4% in the nine months ended 31 December at SMS Co. Ltd. (2175:TYO), a Tokyo-based provider of healthcare staffing and elderly care services. SMS reported results on Monday.

(JPY millions) Nine months to 31 Dec. 2021 Nine months to 31 Dec. 2020 % change Nine months to 31 Dec. 2021 (USD millions)
Net sales                            28,315                           26,366 7.4% 246
Gross profit                            25,130                           23,564 6.6% 218
Operating profit                              3,895                              3,220    
Profit                              3,649                              2,868 27.2% 32

Business lines at SMS include recruitment of healthcare professionals, recruitment of elderly care professionals and management support for elderly care operators.

The company reported Japan is set to have a shortage of 650,000 care workers by 2040. These workers include nurses and elderly care workers.

Guidance

SMS forecasts full-year revenue will be up 11.4% to JPY 40.04 billion (USD 347.4 million).

Share price and market cap

Shares in SMS closed up 5.08% to JPY 3,100 (USD 27) on Monday in Tokyo; shares were 9.93% above their 52-week low, according to FT.com. The company had a market cap of JPY 257.04 billion (USD 2.23 billion).