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View All NewsJapan – Nisso Corp revenue and profits slip
Nisso Corporation (6569: TYO), a Japanese human resources firm providing staffing services, reported revenue today of JPY 50.44 billion (USD 477.6 million) for the first nine months ended 31 December 2020, a fall of 9.5% compared to the same period last year.
| (JPY millions) | 9 months 2020 | 9 months 2019 | Change | 9 months 2020 (USD millions) |
| Revenue | 50,442 | 55,718 | -9.5% | 477.6 |
| Gross Profit | 8,433 | 9,515 | -11.4% | 79.8 |
| Gross Margin | 16.7% | 17.0% | ||
| Operating Profit | 1,678 | 1,896 | -11.5% | 15.8 |
| Net Income | 1,284 | 1,307 | -1.8% | 12.1 |
Nisso operates in two segments: its human resources and other business. The integrated talent service business operates a manufacturing talent service, such as manufacturing dispatching and manufacturing contracting, as well as administrative talent service, such as general office dispatching and Business Process Outsourcing (BPO). The Other business operates nursing care and welfare projects, such as facility nursing care and home care.
The group said revenue and profits decreased partly due to a decrease in enrollment
According to SIA’s Largest Staffing Firms in Japan report, Nisso Group was the 15th largest staffing firm in Japan based on 2019 revenue.
Looking ahead, the company’s forecasted revenue is JPY 68.0 billion (USD 643.90 million) for the year ended March 2021. The group said its domestic and overseas demand is recovering, mainly from automobiles manufacturers, and operations increases.
Shares in Nisso Corp closed at JPY 895.00 (USD 8.47), down 0.22% on the day and 3.66% below its 52-week high of JPY 929.00 (USD 8.80), set on 6 February 2020. The company has a market cap of JPY 30.68 billion (USD 290.51 million).