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Japan – Artner reports fallen profits

06 December 2013

Japanese recruitment firm Artner Company Ltd (2163: JP) reported revenue of JPY 2.9 billion (USD 28.4 million) for the nine months ending 31 October 2013, a fall of -6% compared with JPY 3.1 billion (USD 30.4 million) last year.

The company reported a substantial drop of -45.9% in operating profit, falling from JPY 273 million (USD 2.7 million) in 2012 to JPY 147 million (USD 1.4 million) this year. The company reported a pre-tax profit of JPY 152 million (USD 1.5 million), a fall of -44.6% from JPY 274 million (USD 2.7 million) for the same nine month period in 2012.

Artner achieved a net income of JPY 95 million (USD 930,515), equating to a year-on-year drop of -66.2% from a net income of JPY 283 million (USD 2.8 million) a year ago.

The company attributed its weak performance to the effects of the economic measure the government has implemented, the improving export market, and the weak yen. Looking forward, Artner expects the economic recovery to continue but perhaps tempered by uncertainty overseas.

The company provides employment recruitment services in Japan. It offers permanent and temporary staffing services. The company offers general worker dispatching, employment placement, and technology staffing services. It is also involved in the provision of mechanical design, electrical and electronic design, software, and chemical and bio-based research and development services.

In trading today, the company’s share price opened and closed at JPY 633 (USD 6.20), an increase of +0.9% compared with a year ago. Based on its current share price, the company has a market value of JPY 1.7 billion (USD 16.6 million). 

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