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Japan – Other staffing firms report lacklustre results

08 November 2013

In addition to the results reported by major Japanese staffing firms today, there have also been results from some of the smaller providers; Nippon Information Development, Crie Anabuki, and Ecomic Co., for the six months ending 30 September 2013.

The overall trend was year-on-year declines in revenues. Having already upgraded their forecast, staffing services provider Nippon Information Development (2349: JP) reported revenue of JPY 7.6 billion (USD 77 million) for H1 2013, an increase of +3.1% from JPY 7.4 billion (USD 75 million) last year. Human resources provider Crie Anabuki Inc., (4336: JP) reported revenue of JPY 3.1 billion (USD 31.4 million) for H1 2013, a fall of -11.2% from JPY 3.5 billion (USD 35.5 million) during H1 2012.  Payroll outsourcing company Ecomic Co (3802: JP) reported revenue of JPY 205 million (USD 2.1 million) for the first six months of the year, a rise of +1% compared with JPY 202 million (USD 2.05 million) for the same period last year.

In terms of operating income, Nippon reported year-on-year growth of +100.4% to JPY 651 million (USD 6.6 million), from JPY 325 million (USD 3.3 million). Crie Anabuki reported a loss of JPY -26 million (USD -253,457), compared with an operating profit of JPY 32 million (USD 324,425) in 2012. Ecomic Co reported an operating loss of JPY -29 million (USD -294,010), a slight drop from an operating loss of JPY -28 million (USD -273,735) last year.    

In terms of pre-tax income for the period, Nippon reported a pre-tax profit of JPY 655 million (USD 6.6 million), a rise of JPY 92.5% from JPY 340 million (USD 3.4 million) in 2012. Crie Anabuki reported a loss of JPY -24 million (USD -243,320), compared with a pre-tax profit of JPY 32 million (USD 324,425) last year. Ecomic achieved a pre-tax loss of JPY -29 million (USD -294,010) during H1 2013, compared with a pre-tax loss of JPY -27 million (USD -273,735) a year ago.  

Nippon reported net income growth of +71.5% during the period from JPY 104 million (USD 1.05 million) in H1 2012 to JPY 178 million (USD 1.8 million) in H1 2013. Crie Anabuki reported a net loss for the six months of JPY -16 million (USD -162,213), compared with a net profit of JPY 16 million (USD 162,213) for H1 2012. Ecomic reported a bigger net loss during H1 2013 of JPY -21 million (USD -212,905) compared with a net loss of JPY -16 million (USD -162,213) in H1 2012.   

Japanese staffing firms continue to face a challenging market, with companies operating across different industries and in different regions faring, on the whole, better than those with narrower business interests.

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