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View All NewsJapan – Tsunagu Holdings revenue falls 11%, but losses narrow
Tsunagu Holdings (6551:JP), a Japan-based company offering recruitment related services, reported revenue today for the nine months ended 30 June 2021 of JPY 8.39 billion (USD 76.1 million), a fall of 11.4% when compared to the same period last year.
| (JPY millions) | 9 months 2021 | 9 months 2020 | Change | 9 months 2020 (USD million) |
| Revenue | 8,393 | 9,472 | -11.4% | 76.1 |
| Gross Profit | 4,035 | 4,561 | -11.5% | 36.6 |
| Gross Margin | 48.0% | 48.1% | ||
| Operating Profit | -162 | -416 | - | -1.4 |
| Loss for the period | -292 | -426 | - | -2.6 |
Tsunagu engages in staff support and employment placement services. It provides recruitment supporting, corporate event outsourcing, job lead media operation, recruitment training, and other services.
The company said the Covid-19 pandemic had an impact on its results. It added that selling, general and administrative expenses were reduced compared to the same period last year.
Looking ahead the company forecasted revenue of JPY 12.50 billion (USD 113.33 million) for the year ended 30 September 2021.
Tsunagu shares closed at JPY 317.00 (USD 2.87), up 3.26% on the day. The company has a market cap of JPY 2.71 billion (USD 24.57 million).