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Japan – Trading remains tough for Career Bank

08 April 2013

Japanese staffing business Career Bank Co (4834:JP) saw sales in the nine months to February fall by -9.5%, the firm reported on Friday. Sales dropped to JPY 3.91 billion (USD 40.0 million) from JPY 4.32 billion (USD 44.2 million) in the prior year.

Operating income in the period fell to JPY 63 million (USD 0.64 million), compared to JPY 114 million (USD 1.16 million) a year ago seeing a sharp annual reduction of -45%. Net profit in the nine months nearly halved to JPY 29 million (USD 0.3 million) from JPY 58 million (USD 0.59 million) year-on-year.

The firm expects revenue for the full year ended May 2013 to reach JPY 5.32 billion (USD 54.49 million) with a projected net profit of JPY 58 million (USD 0.6 million).

The company said that the Japanese economy had shown signs of a recovery, but local firms remain cautious due to uncertain economic conditions abroad.

Career Bank provides a number of career services including temporary and permanent staffing service. The company’s share price fell by -10% in trading today to JPY 49,350. Based on its stock price, the firm has a market value of JPY 471.59 million (USD 4.83 million).  

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