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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.