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View All NewsJapan – Hito Communications revenue up 15.7% as profits show uptick
Japanese human resources provider Hito Communications (3654: JP) reported revenue for the nine months ending 31 May 2021 of JPY 61.25 billion (USD 557.3 million), an increase of 15.7% when compared to the same period last year.
| JPY millions) | 9 months 2021 | 9 months 2020 | Change | 9 months 2021 (USD millions) |
| Revenue | 61,256 | 52,938 | 15.7% | 557.3 |
| Gross Profit | 10,650 | 9,600 | 10.9% | 96.9 |
| Gross Margin | 17.3% | 18.1% | - | - |
| Operating Income | 3,645 | 2,549 | 43.0% | 33.1 |
| Net Income | 2,252 | 1,328 | 69.6% | 20.4 |
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 it strengthened its efforts to support digital sales and to improve the efficiency of selling, general and administrative expenses.
Revenue in the group’s dispatching business was down 11.3% over the year.
On May 2021, Hito Communications announced it will acquire Moffly Co., Ltd, a cloud-based firm focused on ecommerce.
Looking ahead, the company forecasted revenue of JPY 81 billion (USD 737.02 million) for the full year ended 31 August 2021.
Shares in Hito closed at JPY 2,380.00 (USD 21.66), up 2.99% on the day and 2.14% below its 52-week high of JPY 2,432.00 (USD 22.13), set on 6 July 2021. The company has a market cap of JPY 41.37 billion (USD 376.4 million).