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Japan – Hito Communications H1 revenue up 4.7%, but profits decline

11 April 2023

Japanese human resources provider Hito Communications (4433: JP) reported revenue today for the first six months ending 28 February 2023 of JPY 33.46 billion (USD 251.4 million), up 4.7% over the previous year.

Hito offers temporary staffing, business recruitment and outsourcing, business sales promotion, outsourced sales support, and employee training outsourcing services, as well as recruitment services for individual users in distribution and service sectors.

The group said work related to Covid-19 prevention measures contributed to its performance. Furthermore, it saw an increase in sales in its wholesale business as well and its land operating business, which arranges accommodations and transportation for foreign nationals.

Looking ahead the group forecasted revenue of JPY 59.00 billion (USD 443.3 million) for the year ended 31 August 2023.

Hito Communications Holdings shares closed at JPY 1,580.00 (USD 11.87), up 1.87% on the day and 12.86% above the 52-week low of JPY 1,400.00 (USD 10.52) set on 13 May 2022. The company has a market cap of JPY 27.76 billion (USD 208.5 million).