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Fullcast revenue falls 8.6%

November 10 2008

Fullcast Holdings Co. Ltd, a Tokyo-based staffing company, said revenue fell 8.6% to 98.99 billion yen (US$935.0 million) in its fiscal year ended Sept. 30, 2008.

The company said sales declined in its short-term temporary worker business and its industrial business, and that the Japanese economy weakened in the second half of the year.

Gross margin fell to 24.7% from 25.5%.

Fullcast posted a net loss of 2.44 billion yen (US$23.1 million) compared with a net loss of 674 million yen in the previous year. The company said it took a loss of 204 million yen on the closure of offices, and a goodwill impairment of 1.40 billion yen. The company also had expenses of 236 million yen for the relocation of its head office.

Fullcast provides short-term temporary workers and industrial, technical and office/clerical staffing. It also provides other services including restaurant and bar management, security and advertising; and these other business accounted for 7.0% of revenue in the fiscal year.

Fullcast Holdings Co. Ltd.
For the fiscal year ended Sept. 30, 2008, compared with the previous year.
Revenue: 98.99 billion yen (US$935.0 million), -8.6%
Net loss: 2.44 billion yen (US$23.1 million) vs. net loss of 674 million yen

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