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View All NewsJapan – Hito Communications first quarter revenue rises 1.5% but profits slip
Japanese human resources provider Hito Communications (4433: JP) reported revenue yesterday for the first quarter ending 30 November 2022 of JPY 17.21 billion (USD 146.9 million), an increase of 1.5% compared to the same period last year.
| (JPY millions) | Q1 2023 | Q1 2022 | Change | Q1 2023 (USD millions) |
| Revenue | 17,217 | 16,968 | 1.5% | 133.3 |
| Gross Profit | 3,947 | 4,182 | -5.6% | 30.5 |
| Gross Margin | 22.9% | 24.6% | - | - |
| Operating Profit | 1,612 | 1,976 | -18.4% | 12.4 |
| Net Income | 938 | 1,167 | -19.6% | 7.2 |
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.
Looking ahead the group forecasted revenue of JPY 59.00 billion (USD 456.91 million) for the year ended 31 August 2023.
Hito Communication shares closed yesterday at JPY 1,472 (USD 11.40), down 0.47% on the day. The company has a market cap of JPY 26.99 billion (USD 209.04 million).