Japanese outsourcing services company World Holdings (2429: JP) reported revenue for the first quarter ended 31 March 2023 of JPY 43.72 billion (USD 324.7 billion), an increase of 7.4% compared to the previous year.

World Holdings Co Ltd. provides outsourcing services in the manufacturing sector operating under the World Intec brand. The company also offers personnel staffing services for engineering and short-term positions.

Revenue in the Products HR business rose by 17.6% over the year. The Service HR business saw revenue increase by 14.3%. The Real Estate business reported a revenue decline of 19.6%. The Information and Communication business also saw a decline of 9.7%. Revenue in the Agricultural park business was up by 15.4%.

In April 2023, the Board of Directors of World Holdings Co., Ltd. approved a resolution to purchase all of the shares of Nippon Gijutsu Center Co., Ltd. and make it a subsidiary, tentatively on 22 May 2023.

Nippon Gijutsu Center has a large staff of engineers specialising in advanced machinery design, and is also providing staffing services to major companies in the manufacturing and technology sectors. Nippon Gijutsu Center also provides outsourcing service in technical areas such as machinery, electricity, electronics, and software. The company has a particularly strong presence in the Kansai region.

Looking ahead, World Holdings forecasted revenue of JPY 201.35 billion (USD 1.49 billion) for the year ended 31 December 2023.

World Holdings shares closed at JPY 2,792.00 (USD 20.74), up 0.94% on the day and 8.46% below its 52-week high of JPY 3,050.00 (USD 22.65), set on 28 November 2022. The company has a market cap of JPY 48.83 billion (USD 362.68 million).