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Japanese staffing and outsourcing company World Intec (2429.OS) reported a +40% increase in revenue for the fiscal year ending December 2012 as revenue grew to USD 569.9 million (JPY 53.01 billion) from USD 407.4 million (JPY 37.89 billion) a year ago. The rise in revenue was helped by an acquisition of Japanese firm Dot International.
Operating profit in the year more than doubled to USD 13.1 million (JPY 1.22 billion), compared to USD 6.3 million (JPY 588 million) in the prior year. The firm also posted a net profit of USD 7.0 million (JPY 658 million), seeing a sharp increase from USD 2.3 million (JPY 214 million).
World Intec expects annual revenue to rise at a slower rate (+7%) in 2013 to USD 607.4 million (JPY 56.49 billion) and net profit to grow 10% to USD 7.7 million (JPY 712 million).
World Intec provides HR services, including dispatching workers to the manufacturing, assembling, and electronics industries. The firm’s technology unit provides staff to electric and maintenance jobs. Major clients include MCS Co., Ltd, Sony Semiconductor Kyushu Corporation, Tera Probe,Inc., Shiseido Company Ltd and Mitsui Mining & Smelting Co Ltd.
Japan is the second-largest staffing market in the world after the US. The staffing industry became regularised with the Worker Dispatch Law in 1985 and benefited from further liberation in the 1990s.