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Japan – Creek & River’s growth continues

09 January 2014

Japanese recruitment firm Creek & River Co. Ltd (4763: JP) reported revenue of JPY 15.3 billion (USD 145.9 million) for the third quarter of 2013 ending 30 November 2013, an increase of +16.2% compared with revenue of JPY 13.2 billion (USD 125.9 million) for the same period last year. 

The company reported a modest rise in net profit for the period of +2%, rising to JPY 888 million (USD 8.5 million) from JPY 871 million (USD 8.3 million) a year ago. The company also reported a marginal drop of -2.8% in their pre-tax profit for Q3 2013 to JPY 891 million (USD 8.5 million), down from JPY 917 million (USD 8.7 million) in Q3 2012.

Creek & River achieved a net income of JPY 393 million (USD 3.7 million) for the quarter, a rise of +17.7% compared with a net income of JPY 334 million (USD 3.2 million) a year ago.

Despite the marginal fall in pre-tax profit, the positive Q3 results follow a strong performance during the first six months of the year, when revenue rose by +23% and net profit increased by +81.7% when compared with the same period the previous year.

The company attributed its successful quarter to ongoing strong demand for professionals. The diversification of the company’s portfolio to include e-books and architecture services also contributed to a good performance. The company also continues to develop new business initiatives, including a fashion brand.

Creek & River Co., Ltd. provides business agency, production, outsourcing, and consultation services in Japan and internationally. It offers dispatching and employment placing services; contract production services; rights management services; education and communication services; and management and distribution services for copyright and contents. The company provides its services in various areas comprising television, visual/Websites/advertising, publishing/games/sales promotions, and events/e-books. The company was founded in 1990 and is headquartered in Tokyo.

Despite the company’s positive performance, in trading today, the share price fell by -8.9% to JPY 448 (USD 4.27), a fall of -7.1% compared with a year ago. Based on its current share price, the company has a market value of JPY 10.1 billion (USD 96.3 million). 

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