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Japan – Staffing firm GiG Works revenue up 8.3% in fiscal year

12 December 2022

GiG Works Inc. (2375:TYO), which ranks as the 30th-largest staffing firm in Japan, announced Friday that sales rose 8.3% in its fiscal year ended 31 October to JPY 22.93 billion (USD 155.5 million).

Gross margin narrowed at the Tokyo-based company while net income fell 46.4%.

GiG works provides personnel on demand in engineering, construction, sales and call centre services. It is also involved in the development of shared offices.

(JPY thousands) FY ended 31 Oct. 2022 FY ended 31 Oct. 2021 % change FY ended 31 Oct. 2022 (USD thousands)
Sales                    22,932,969                    21,169,041 8.3%                                                 155,486
Gross profit                      5,140,851                      4,884,613 5.2%                                                   34,855
Gross margin 22.4% 23.1%    
Net income                          232,916                         434,518 -46.4%                                                     1,579

Shares in GiG Works Inc. closed up 1.29% in Tokyo on Friday to JPY 314 (USD 2.30); they were 5.02% above their 52-week low; according to FT.com. The company had a market cap of JPY 6.81 billion (USD 49.8 million).