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Japan – Gakujo reports drop in revenue

10 June 2013

Japan-based recruiter Gakujo Co. (2301:TYO) today issued a trading update for the half year ending April 2013, reporting that revenue fell to USD 13 million (JPY 1.27 billion) from USD 13.1 million (JPY 1.28 billion) a year ago.

The firm, which provides career, recruitment and manpower dispatch services, saw profits rise during the first half of 2013. While operating profit in the period is recorded at USD 2.1 million (JPY 203 million) net profit rose to USD 2.7 million (JPY 268 million) from USD 1.9 million (JPY 183 million) a year ago.

Forecasting its annual results to October 2013, Gakujo expects revenue to amount to USD 29.7 million (JPY 2.9 billion). Operating profit is predicted to make USD 2.7 million (JPY 265 million) for the 12 months to October with net profit reaching USD 2.3 million (JPY 220 million).

In early trading, the company’s share price jumped +5% to JPY 416, an increase of +11.5% from a year ago. Based on this stock price, the firm has a market value of USD 63 million (JPY 6.15 billion).

Gakujo offers career, recruitment, staffing, and job placement services for graduates and those in mid-career. 

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