Daily News
View All NewsJapan – Like revenue rises 4.4% but rising costs hit profits
Japanese staffing firm Like Co Ltd (2462: JP) reported revenue on Monday for the nine months ended 28 February 2023 of JPY 43.13 billion (USD 322.7 million), up 4.4% when compared to last year.
| (JPY millions) | 9 months 2022 | 9 months 2021 | Change | 9 months 2022 (USD millions) |
| Revenue | 43,136 | 41,308 | 4.4% | 322.7 |
| Gross Profit | 5,703 | 6,358 | -10.3% | 42.6 |
| Gross Margin | 13.2% | 15.4% | - | - |
| Operating Profit | 1,415 | 2,226 | -36.4% | 10.5 |
| Net Income | 873 | 1,527 | -42.8% | 6.5 |
Like Co Ltd provides general worker dispatching and employment placement services. The company also provides outsourcing staffing, recruitment, and education support services for the mobile phone sales industry in Japan.
During the period, the group saw an increase in food costs and utility costs due to rising prices, which impacted the group’s profits. The group also said upfront costs associated with the opening of new facilities in the nursing care-related service business also impacted profits.
Revenue in the childcare support service business was up 3.2% over the year. The HR services business reported an increase of 6.3% while revenue in the nursing related business increased by 3.3% over the year. The multimedia service business reported an increase of 0.6% over the year.
Looking ahead, the group forecasted revenue of JPY 61.60 billion (USD 460.81 million) for the year ended 31 May 2023.
Like shares closed at JPY 1,991 (USD 14.89) on Monday, up 1.2% on the day. The company has a market cap of JPY 39.82 billion (USD 297.88 million).