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View All NewsJapan – Jac Recruitment Q1 revenue boosted by overseas and domestic growth
Japanese staffing firm Jac Recruitment (2124: TYO) reported revenue for the first quarter ended 31 March 2021 of JPY 7.47 billion (USD 57.7 million), an increase of 25.7% compared to last year.
| (JPY millions) | Q1 2022 | Q1 2021 | Change | Q1 2021 (USD millions) |
| Revenue | 7,471 | 5,942 | 25.7% | 57.7 |
| Gross Profit | 6,876 | 5,513 | 24.7% | 53.1 |
| Operating Profit | 2,311 | 1,799 | 28.5% | 17.8 |
| Net Income | 1,638 | 1,199 | 36.6% | 12.6 |
Jac Recruitment provides recruitment services to local enterprises and multinationals in Japan, the UK, and the rest of Asia.
In the Domestic Recruitment Business, demand for workers has remained strong in almost all industries. Regarding the Overseas Business, despite regions affected by lockdowns due to the spread of Covid-19 in China and some other parts of Asia, the group said an earnings recovery is underway in more and more regions, including Europe and Singapore.
Revenue in the Domestic Recruitment Business was up 124.4%, while revenue in the Domestic Job Offer Advertising Business jumped 154.7%. Revenue in the Overseas Business was up 136.6% over the year.
Looking ahead, the company forecasted revenue of JPY 28.55 billion (USD 220.67 million) for the year ended 31 December 2022.
Shares in Jac Recruitment closed on Friday at JPY 1,739 (USD 13.44), up 0.57% on the day. The company has a market cap of JPY 71.98 billion (USD 556.37 million).