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View All NewsJapan – TechnoPro Holdings Q1 revenue climbs 6% with strong growth overseas
TechnoPro Holdings, Inc, (6028:TYO) a Japan-based technology-focused staffing and services company, reported revenue today of JPY 41.6 billion (USD 366.0 million) for the first quarter ended 30 September 2020, an increase of 0.8% compared to the previous year.
| (JPY millions) | Q1 2021 | Q1 2020 | Change | Q1 2021 (USD millions) |
| Revenue | 41,634 | 39,195 | 6.2% | 366.0 |
| Gross Profit | 9,871 | 8,892 | 11.1% | 86.7 |
| Gross Margin | 23.7% | 22.7% | ||
| Operating Profit | 3,942 | 4,357 | -9.5% | 34.6 |
| Net Income | 2,707 | 2,971 | -8.9% | 23.8 |
TechnoPro is an engineering staffing company and offers services and solutions in mechanical and electronic design, IT and software development, and wide range of technological fields through outsourcing. The company also has a presence in biological, chemical and construction management businesses.
| (JPY millions) | Q1 2021 | Q1 2020 | Change | Q1 2021 (USD millions) |
| R&D Outsourcing | 32,585 | 31,256 | 4.3% | 286.5 |
| Construction Management Outsourcing | 4,916 | 4,975 | -1.2% | 43.2 |
| Other Businesses in Japan | 1,101 | 863 | 27.6% | 9.6 |
| Total Japan | 38,604 | 37,095 | 4.1% | 339.4 |
| Overseas business | 3,469 | 2,414 | 43.7% | 30.5 |
| Corporate/Eliminations | -438 | -315 | - | -3.8 |
The group said that although the increase in expenses for normalising recruiting and other operations was mostly offset by improvement of gross profit driven by recovering number of engineers on assignment and unit sales price, the decrease in government subsidy for continuous employment was not fully made up, and this trend will continue for Q2.
Looking ahead, the company forecasted revenue of JPY 170.0 billion (USD 1.49 billion) for the year ended 30 June 2022.
Shares in TechnoPro Holdings set a new 52-week high during today’s trading session when it reached JPY 3,720.00 (USD 32.71). Over this period, the share price is up 68.08%. Shares closed today at JPY 3,625.00 (USD 31.87), down 1.36% on the day. The company has a market cap of JPY 398.45 billion (USD 3.50 billion).