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View All NewsJapan – Hirayama Holdings Q1 revenue down and operating income at breakeven
Japan-based Hirayama Holdings (7781:JP), a company mainly engaged in outsourcing and technology staffing, reported revenue today for the first quarter ended 30 September 2020 of JPY 5.20 billion (USD 49.7 million), a fall of 10.4% compared to the previous year.
| (JPY millions) | Q1 2020 | Q1 2019 | Change | Q1 2020 (USD millions) |
| Revenue | 5,200 | 5,805 | -10.4% | 49.7 |
| Gross Profit | 816 | 976 | -16.3% | 7.8 |
| Operating Income | 0 | 96 | -99.1% | 0.0 |
| Net Income | 35 | 8 | 327.9% | 0.3 |
The company is mainly engaged in outsourcing and technology staffing.
The group said it is in the process of recovery from the coronavirus crisis and production has improved since the April to June period. While revenue decreased and profits decreased in the first quarter, the group said it anticipates a production recovery phase. Hirayama said it actively maintained its activities and incurred costs for its digital transformation during the quarter.
Looking ahead the company forecasted revenue of JPY 23.30 billion (USD 222.84 million) for the year ended June 2021.
Shares in Hirayama Holdings closed at USD 1,395.00 (USD 13.34), up 7.89% on the day and 10.58% below its 52-week high of JPY 1,560.00 (USD 14.92), set on 20 January 2020. The company has a market cap of JPY 4.33 billion (USD 41.41 million).