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Japan – Recruiter Hito Communications releases forecasts

10 April 2013

Temporary staffing and outsourcing business Hito Communications Inc. (3654:TO) today reports in a brief trading update that sales in the six months to February amounted to JPY 9.83 billion (USD 99.4 million) with operating income reaching JPY 916 million (USD 9.23 million). During the six-month period, the firm made a net profit of JPY 500 million (USD 5.04 million).

The firm also released forecasts regarding its full-year results. Sales are expected to reach JPY 20.3 billion (USD 204.74 million) for the year ending in August 2013. The company also projects operating income to total JPY 1.6 billion (USD 16.3 million) while net profit is poised to reach JPY 830 million (USD 8.37 million).

In trading today, the company’s share price rose by +0.1% and closed at JPY 872.00. This is -5% below its recent high of JPY 914 seen last month. Based on its stock price, the firm has a market value of JPY 7.80 billion (USD 78.66 million).

Based in Tokyo, Hito Communications is an outsourcing and temporary staffing business, and also provides training services. 

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