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View All NewsMirai Works Q1 revenue up 20.4% as profits rally
Japan-based HR services firm Mirai Works (6563: TYO) today reported revenue of JPY 2.36 billion (USD 15.7 million) for the first quarter ended 31 December 2023, an increase of 20.4% when compared to the prior year period.
The company said the 20.4% increase was due to steady growth in the number of sales personnel, and number of transactions with major companies.
In October 2022, the group acquired Hive, a company involved in website design production and operation system development as well as an employment placement business.
| (JPY millions) | Q1 2024 | Q1 2023 | Change | Q1 2024 (USD millions) |
| Revenue | 2,363 | 1,961 | 20.4% | 15.7 |
| Gross Profit | 587 | 482 | 21.8% | 3.9 |
| Gross Margin | 24.8% | 24.6% | - | - |
| Operating Profit | 53 | 33 | 59.8% | 0.3 |
| Net Profit | 19 | 18 | 5.7% | 0.1 |
Mirai Works provides a number of staffing and other related services in Japan, mostly in professional segments such as healthcare.
In its outlook, Mirai Works said it forecasts full year revenue of JPY 10.00 billion (USD 66.38 million).
Mirai Works shares closed at JPY 822.00 (USD 5.46), down 0.24% on the day and 25.5% above the 52 week low of JPY 655.00 (USD 4.35) set on 22 March 2023. The company has a market cap of JPY 4.22 billion (USD 28.01 million).