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View All NewsJapan – Interworks revenue plummets 51% as losses widen
Interworks (6032:TYO), a Japan-based recruitment company reported revenue today for the first nine months ended 31 December 2020 of JPY 1.14 billion (USD 10.8 million), a decrease of 51.2% when compared to the previous year.
| (JPY millions) | 9 months 2020 | 9 months 2019 | Change | 9 months 2020 (USD millions) |
| Revenue | 1,143 | 2,341 | -51.2% | 10.8 |
| Gross Profit | 663 | 1,543 | -57.0% | 6.2 |
| Gross Margin | 58.0% | 65.9% | ||
| Operating Profit | -468 | -13 | - | -4.4 |
| Net Income | -454 | -42 | - | -4.3 |
The company operates through three segments: its main segment which is the media and solutions business, a recruitment business covering the IT, accounting/finance, legal, HR and manufacturing sectors, and a recruitment support business supplying HR tech under the JDV brand.
The group said revenue and profits in its recruitment business declined due to the stagnation of the labour market and the postponement of recruitment activities amid the pandemic. The pandemic also negatively impacted its recruitment support business and media and solutions business.
Looking ahead the company forecasted revenue between JPY 1.82 billion to 2.08 billion (USD 17.25 to USD 19.71 million) for the full year ended March 2021.
Shares in Interworks Inc closed today at JPY 362.00 (USD 3.43), no change on the day and 16.77% above the 52 week low of JPY 310.00 (USD 2.94) set on 6 August 2020. The company has a market cap of JPY 3.55 billion (USD 33.64 million).