Tsunagu Holdings (6551:JP), a Japan-based company offering recruitment related services, reported revenue today for the first quarter ended 31 December 2021 of JPY 2.80 billion (USD 24.3 million), an increase of 2.8% when compared to the same period last year.

The group reported a return to profit for the period. Tsunagu said it reorganised operating companies and reported a drastic reduction and integration of offices. Compared to the same period of the previous year, selling, general and administrative expenses were reduced by JPY 147 million (USD 1.27 million).

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.

Last month, Nisso Corporation, a Japanese human resources firm providing staffing services, announced that it will establish a joint venture with Tsunagu. The name of the joint venture is LeafNxT.

Looking ahead the company forecasted revenue of JPY 11.00 billion (USD 95.48 million) for the year ended 30 September 2022.

Shares in Tsunagu closed at JPY 293.00 (USD 2.54), no change on the day and 23.11% above the 52 week low of JPY 238.00 (USD 2.07) set on 28 January 2022. The company has a market cap of JPY 2.53 billion (USD 21.96 million).