Japan-based HR services firm Mirai Works (6563: TYO) yesterday reported revenue of JPY 1.96 billion (USD 14.8 million) for the first quarter ended 31 December 2022. The company did not post prior year results for comparison, however last year’s results can be found here. Comparing Q1 2023 to Q1 2022 showed a revenue increase of 45.0%.

Q1 2023 gross profit was up 37% compared to Q1 2022. Operating profit was down 19.5% while net income fell by 48.5%.

Q1 2023

Q1 2022

Mirai Works provides a number of staffing and other related services in Japan, mostly in professional segments such as healthcare.

On October 2022 Mirai Works announced that it had acquired a 100% stake in Hive Co Ltd., a company also based in Japan. Hive is involved in website design production and operation system development as well as an employment placement business.

Looking ahead the company forecasted revenue of JPY 8.50 billion (USD 64.4 million) for the year ended 30 September 2022.

Mirai Works shares closed yesterday at JPY 760 (USD 5.76), down 1.29% on the day. The company has a market cap of JPY 3.96 billion (USD 30.0 million).