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View All NewsJapan – Hito Communications full year revenue slips 23.9%, but profits report growth
Japanese human resources provider Hito Communications (4433: JP) reported revenue for the full year ending 31 August 2022 of JPY 64.13 billion (USD 438.1 million), a decrease of 23.9% compared to the same period last year.
| (JPY millions) | FY 2022 | FY 2021 | Change | FY 2022 (USD millions) |
| Revenue | 64,130 | 84,225 | -23.9% | 438.1 |
| Gross Profit | 15,227 | 14,718 | 3.4% | 104.0 |
| Gross Margin | 23.7% | 17.4% | - | - |
| Operating Profit | 5,739 | 4,787 | 19.9% | 39.2 |
| Net Income | 3,227 | 2,774 | 16.3% | 22.0 |
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 company forecasted revenue of JPY 59.00 billion (USD 403.06 million) for the year ending 31 August 2023.
Hito Communications shares closed at JPY 1,650.00 (USD 11.27), down 1.26% on the day and 17.86% above the 52-week low of JPY 1,400.00 (USD 9.56) set on 13 May 2022. The company has a market cap of JPY 30.16 billion (USD 206.04 million).