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Japan – Recruitment giant Pasona sales rise but posts losses

11 January 2013

Japanese recruiter Pasona Group (2168:TYO) reported on Friday that net sales in the six months ended 30 November 2012 increased by +13.3% to JPY102.98  billion (€890.85 million) from JPY90.88 billion (€786.18 million) a year ago.

The world’s eleventh-largest staffing firm posted a +14.5% increase in gross profits from JPY16.65 billion (€144.03 million) to JPY19.07 billion (€164.97 million). But operating income fell by -1.4% to JPY714 million (€6.17 million) from JPY724 million (€6.26 million).

And the firm posted a net loss of JPY454 million (€3.93 million), compared to a net income of JPY75 million (€0.65 million) a year earlier primarily due to increased income taxes.

In the six months to November, sales in the firm’s temporary staffing business, Expert Services, increased by +5.8% to JPY65.32 billion (€565.07 million).

Pasona is ranked among the top five market leaders in Japan, competing with other large Japanese staffing firms and international rivals such as Adecco.

The firm provides a range of staffing services, including Expert Services (temporary staffing), Insourcing (contracting), Placement & Search (recruitment), Global Sourcing (overseas staffing services), Outplacement and Outsourcing Service.

In early trading this morning, the company’s share price was down -1.2% to JPY50,200, a -29.5% fall from a year ago and +9.5% above its 52-week low of JPY45,850 seen in October last year. Pasona has a market value of JPY21.18 billion (€183.22 million) and ranks among the 25-largest publicly listed recruiters in the world based on market capitalisation

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