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View All NewsWill Group Q1 revenue down 2.8% as profits also fall
Japanese HR firm Will Group (6089:TYO), which focuses on temporary staffing, business contracting and recruitment, reported revenue today of JPY 34.43 billion (USD 241.8 million) for the first quarter ended 30 June 2022, a fall of 2.8% when compared to the same period last year.
| (JPY millions) | Q1 2023 | Q1 2022 | Change | Q1 2023 (USD millions) |
| Revenue | 34,435 | 35,441 | -2.8% | 241.8 |
| Gross Profit | 7,552 | 8,033 | -5.9% | 53.0 |
| Gross Margin | 21.9% | 22.6% | -5.9% | - |
| Operating Income | 1,132 | 1,431 | -20.9% | 7.9 |
| Net Income | 723 | 758 | -4.6% | 5.0 |
Will Group is engaged in the human resource business focusing on temporary staffing, business contracting and recruitment. The group operates in seven segments: Sales Outsourcing, Call Centre Outsourcing, Factory Outsourcing, Nursing Care Domain Support, Overseas HR, Others (Japan) and the recently-added segment the Start-up Human Resources Support Business.
Revenue in the domestic work business was down 3.3% year-on-year. Revenue in the Overseas Working Business was up 1.0% year-on-year.
In its outlook, the group forecasted revenue of JPY 144.0 billion (USD 1.01 billion) for the year ended 31 March 2024.
Will Group shares closed at JPY 1,096.00 (USD 7.70), up 1.39% on the day and 9.38% above its 52-week low of JPY 1,002.00 (USD 7.04), set on 31 May 2023. The company has a market cap of JPY 24.80 billion (USD 174.17 million).