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Japan – Nichii Gakkan projects higher revenues

25 April 2013

Japan-based healthcare staffing firm Nichii Gakkan (9792:TYO) reported its full-year forecasts on Wednesday for the 12 months running to March 2013. The company, among the five-largest recruiters in Japan, projects full-year revenues of USD 2.374 billion (JPY 236.20 billion). This slightly tops the previous forecast of USD 2.370 billion (JPY 235.80 billion).

Nichii Gakkan has also forecast an operating profit of USD 66.343 million (JPY 6.60 billion), compared to the previous forecast of USD 52.270 billion (JPY 5.20 billion). The healthcare recruiter expects pre-tax profits of USD 67.348 million (JPY 6.70 billion), up from a previously expected USD 51.265 million (JPY 5.10 billion). Net profit is projected to amount to USD 34.177 million (JPY 3.40 billion), again an increase from the previous forecast of USD 24.125 million (JPY 2.40 billion).

The firm is a medical services company which operates though a number of major subsidiaries including the provision of temporary agency workers. Its major peers in the Japanese staffing market include Recruit Holdings, Tempstaff, Pasona Group and Adecco, according to research by Staffing Industry Analysts.

Earlier this month, rival Pasona posted improved financial results with the firm benefitting from a recovery in the local recruitment industry and, today, Dutch staffing firm Randstad announced that they had achieved revenue growth of +5% in Japan in the first quarter. But global economic woes continue to impact business confidence and hiring sentiments in the country. 

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