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View All NewsJapan – JTec Corp full year revenue and profits fall
Japanese staffing company JTec Corp. (2479: JP) reported revenue today for the full year ended 31 March 2021 of JPY 2.77 billion (USD 25.4 million), a decrease of 8.7% compared with last year.
| (JPY millions) | FY 2020 | FY 2019 | Change | FY 2020 (USD millions) |
| Revenue | 2,771 | 3,034 | -8.7% | 25.4 |
| Gross Profit | 651 | 807 | -19.3% | 5.9 |
| Gross Margin | 23.5% | 26.6% | - | |
| Operating Profit | -56 | 141 | - | -0.5 |
| Net Income | 40 | 90 | -55.2% | 0.3 |
JTec Corp offers outsourcing for technical personnel especially in technology. The company provides mechanical, electronic, and software engineering technicians. JTec also offers electric and electronic design, and software development on a contract basis.
The group said the coronavirus pandemic had impacted its results.
JTec said it saw reduced travel expenses, transportation expenses and meeting expenses due to the pandemic restrictions, however it reported increased personnel and hiring costs as well as expenses related to training facilities as it increases the number of technology personnel.
Looking ahead, JTec forecasted revenue of JPY 3.43 billion (USD 31.50 million) for the year ended 31 March 2022.
Shares in JTec Corp closed at JPY 188.00 (USD 1.73), down 0.53% on the day and 13.76% below its 52-week high of JPY 218.00 (USD 2.00), set on 26 June 2020. The company has a market cap of JPY 1.62 billion (USD 14.88 million).