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View All NewsJapan – Pasona net sales rise 7.2%, demand showing gradual recovery
18 October 2021
Pasona Group Inc. (2168:TYO), a Tokyo-based staffing firm, reported net sales rose 7.2% year over year in its fiscal first quarter ended 31 August. Though profit declined in the first quarter, the company reported demand for staffing continues to show a gradual recovery.
| (JPY millions) | Q1 2021 | Q1 2020 | % change | Q1 2021 (USD millions) |
| Net sales | 91,927 | 85,751 | 7.2% | $837 |
| Gross profit | 21,720 | 22,332 | -2.7% | $198 |
| Gross margin | 23.6% | 26.0% | ||
| Profit | 3,463 | 4,743 | -27.0% | $32 |
Net sales in Pasona’s expert services temporary staffing operations rose 7.0%.
Net sales by segment
| (JPY millions) | Q1 2021 | Q1 2020 | % change | Q1 2021 (USD millions) |
| Expert services (temp staffing) | 40,650 | 38,008 | 7.0% | $369.92 |
| Business process outsourcing services | 34,202 | 32,139 | 6.4% | $311.24 |
| HR consulting, education and training | 1,926 | 1,628 | 18.3% | $17.53 |
| Global sourcing (overseas) | 2,056 | 1,658 | 24.0% | $18.71 |
| Career solutions (placement/recruiting, outplacement) | 3,610 | 2,938 | -3.3% | $32.85 |
| Outsourcing | 8,513 | 8,248 | 3.2% | $77.47 |
| Life solutions | 1,708 | 1,563 | 9.3% | $15.54 |
| Regional revitalizaiton solutions | 763 | 479 | 37.1% | $6.94 |
| Eliminations and corporate | (1,504) | (913) | -- | -- |
Outlook
Pasona forecast net sales would rise 3.7% year over year in the first half of its fiscal year and net sales would rise 4.6% for the full fiscal year.
Share price and market cap
Shares in Pasona closed 4.96% below their 52-week high on Friday, according to FT.com. The company had a market cap of JPY 138.41 billion (USD 1.22 billion).