Tsunagu Holdings (6551:JP), a Japan-based company offering recruitment related services, reported revenue yesterday for the first quarter ended 31 December 2023 of JPY 3.87 billion (USD 25.8 million), an increase of 10.2% when compared to the same period last year.

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.

Revenue in the staffing business increased by 20.4% compared to the same period last year. Revenue in the human capital business, which includes RPO services and digital transformation recruitment, increased by 8.2% compared to the same period last year. Meanwhile, revenue in the ‘other business’ segment, which is responsible for business management and management of the group’s subsidiaries, was up 67.7% over the prior year period.

Looking ahead the company forecasted revenue of JPY 16.55 billion (USD 110.21 million) for the year ended 30 September 2024.

Tsunagu shares closed yesterday at JPY 842.00 (USD 5.61), down 6.44% on the day. The company has a market cap of JPY 7.40 billion (USD 49.28 million).