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View All NewsJapan – Jac Recruitment first quarter revenue rise 17.1% with growth boosted by domestic recruitment
Japanese staffing firm Jac Recruitment (2124: TYO) reported revenue on Monday for the first quarter ended 31 March 2023 of JPY 8.74 billion (USD 63.8 million), an increase of 17.1% compared to last year.
| (JPY millions) | Q1 2023 | Q1 2022 | Change | Q1 2023 (USD millions) |
| Revenue | 8,746 | 7,471 | 17.1% | 63.8 |
| Gross Profit | 8,096 | 6,876 | 17.7% | 59.1 |
| Operating Profit | 2,156 | 2,311 | -6.7% | 15.8 |
| Net Income | 1,485 | 1,638 | -9.3% | 10.8 |
Jac Recruitment provides recruitment services to local enterprises and multinationals in Japan, the UK, and the rest of Asia.
Within the domestic recruitment business, revenue rose by 15.7%. Revenue decreased by 6.3% in the domestic job advertisement business and increased by 32.8% in the overseas recruitment business.
Looking ahead the company forecasted revenue of JPY 36.65 billion (USD 267.8 million) for the year ended 31 December 2023.
Jac Recruitment shares closed on Monday at JPY 2,518 (USD 18.40), down 9.09% on the day. The company has a market cap of JPY 93.95 billion (USD 686.5 million).