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Technical outsourcing business Artner Co. (2163:JA) has reported revenue of USD 9.5 million (JPY 942 million) for the three months to April, down from USD 9.9 million (JPY 974 million) a year ago.
Operating profit in the quarter dropped sharply to USD 0.2 million (JPY 18 million), compared to USD 0.8 million (JPY 83 million) in the prior year. In the quarter, the Japanese company posted a net profit of USD 0.14 million (JPY 14 million), down from USD 0.8 million (JPY 83 million) in 2012.
The firm also released a full-year forecast and now expects revenue to reach USD 41 million (JPY 4.05 billion) for the 12-month period to January 2014. Operating profit is projected to be USD 2.2 million (JPY 220 million). The company has forecast full-year net profit to reach USD 1.4 million (JPY 134 million).
Artner is engaged in the technical outsourcing business in Japan. The company supplies its technicians to design and development departments in client companies.
In trading today, the company’s share price reached JPY 540, a decrease of -15% from a year ago. Based on this stock price, the firm has a market value of (JPY 1.4 billion).
Japan is the second-largest staffing market in the world after the US and is highly fragmented compared to most other major staffing markets. The long-term prospects for the staffing industry are good with demand driven by an aging population and the gradual change in Japanese business culture away from a ‘job for life’ mentality.