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View All NewsJapan – Mirai Works full year revenue increases 29.5% but profits tumble
Japan-based HR services firm Mirai Works (6563: TYO) reported revenue yesterday of JPY 6.35 billion (USD 45.6 million) for the full year ended 30 September 2022, an increase of 29.5% when compared to the same period last year.
| (JPY millions) | FY 2022 | FY 2021 | Change | FY 2022 (USD millions) |
| Revenue | 6,352 | 4,907 | 29.5% | 45.6 |
| Gross Profit | 1,585 | 1,251 | 26.7% | 11.3 |
| Gross Margin | 25.0% | 25.4% | - | - |
| Operating Income | 112 | 232 | -51.7% | 0.8 |
| Net Income | 39 | 142 | -72.% | 0.2 |
Mirai works provides a number of staffing and other related services in Japan, mostly in professional segments such as healthcare.
Gross profit margin fell as the company focused on increasing the number of contracts in order to expand its business and because the group invested in SG&A expenses as planned.
Looking ahead the company forecasted revenue of JPY 8.50 billion for the year ended 30 September 2023.
Mirai Works shares closed yesterday at JPY 733.0 (USD 5.26), up 5.92% on the day. The company has a market cap of JPY 3.52 billion (USD 25.2 million).