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Japan – Dip Corporation revises results forecast

13 September 2013

Japan-based online job portal Dip Corporation (2379: JP) released upwardly revised figures for second quarter results for the period ending 31 August 2013 and its full year results ending February 2014. The company operates Baitoru.com, a job sites for part-time job seekers and Hatarako for nurses and temporary workers. It also operates Job Engine.jp, which offers recruiting information for people aiming to change their careers.

Dip Corp. had previously forecast operating revenue of JPY 5.8 billion (USD 58.3 million) and has now upwardly revised Q2 2013 operating revenue to JPY 5.9 billion (USD 59.3 million). Operating income for the second quarter had been predicted to reach JPY 101 million (USD 1 million) and is now expected to reach JPY 310 million (USD 3.1 million). Net income for the period had been forecast very low at JPY 9 million (USD 90,460) but has now been revised substantially to JPY 115 million (USD 1.15 million).

No details regarding the revision were provided.

As a result of the revised second quarter results, Dip Corporation has also amended its full-year predictions. Operating revenue is now expected to reach JPY 11.97 billion (USD 120.3 million) in February 2014, up from JPY 11.87 billion (USD 119.3 million). Operating income is now forecast to be JPY 1 billion (USD 10.1 million) and upward revision from JPY 790 million (USD 7.9 million). Net income for the full year had been expected to reach JPY 374 million (USD 3.8 million) and is now expected to reach JPY 500 million (USD 5 million).

In trading today the company’s share price rose +2.94% to JPY 526 (USD 5.29), an increase of +104.9% compared with a year ago. Based on its share price the company has a current market value of JPY 6.5 billion (USD 65.3 million).

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