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View All NewsJapan – Outsourcing first quarter revenue rises 13.2%
Japanese staffing firm Outsourcing Inc. (2427:JP) reported revenue rose by 13.2% for the first quarter ended 31 March 2023 to JPY 175.8 billion (1.29 billion).
| (JPY millions) | Q1 2022 | Q1 2022 | % change | Q1 2022 (USD millions) |
| Revenue | 175,881 | 155,313 | 13.2% | 1,294.8 |
| Gross Profit | 31,792 | 28,508 | 11.5% | 234.0 |
| Gross Margin | 18.0% | 18.3% | - | - |
| Operating Income | 5,276 | 5,955 | -11.4% | 38.8 |
| Profit Before Tax | 4,701 | 3,932 | 19.6% | 34.6 |
| Profit attributable to owner of Parent | 3,135 | 1,583 | 98.0% | 23.0 |
Segment revenue for the Domestic Engineering Outsourcing Business was up 14.4% year-on-year.
The Domestic Manufacturing Outsourcing Business saw revenue increase by 13.1% over the year.
Outsourcing’s Domestic Service Operations Outsourcing Business revenue was down 8.7%.
Meanwhile, the Overseas Engineering Outsourcing Business reported a revenue increase of 12.4%. The Other business reported a decrease of 78.6%.
Looking ahead the company forecasted revenue of JPY 770.00 billion (USD 5.66 billion) for the year ended 31 December 2023.
Outsourcing shares closed yesterday at JPY 1,409 (USD 10.38), down 2.22% on the day. The company has a market cap of JPY 163.71 billion (USD 1.20 billion).