Skip page header and navigation

Dip Corp Q1 revenue rises 8.9%, profits see lift

Dip Corp Q1 revenue rises 8.9%, profits see lift

July 9, 2024
Increase Sales Revenue

Main article

Japan-based staffing firm and job board Dip Corp (2379: JP) reported revenue today for the first quarter ended 31 May 2024 of JPY 15.28 billion (USD 94.8 million), an increase of 8.9% compared to the same period last year.

The group cited the steady expansion of the personnel recruiting services business and the high growth of the DX (digital transformation) business for its revenue growth during the period.

Dip Corp also said it made investments to strengthen its sales capabilities, including recruiting new graduate employees in 2024 and opening new offices to accommodate a policy of requiring employees to come to the office.

(JPY millions)

Q1 2024

Q1 2023

Change

Q1 2024 (USD millions)

Revenue

15,279

14,027

8.9%

94.8

Operating Profit

4,023

3,342

20.4%

24.9

Gross Profit

13,746

12,577

9.3%

85.3

Gross Margin

89.9%

89.6%

-

-

Net Income

2,804

2,153

30.2%

17.4

Dip Corp’s personnel recruiting services business operates the following platforms as media (job advertising) services: Baitoru, a job information site for part-time workers; Baitoru NEXT, a job information site for regular employees and contract employees; Hatarako.net, a comprehensive job information site; and Baitoru PRO, a comprehensive job information site for specialised jobs. Revenue for the personnel recruiting services business rose by 7.6%.

Within the personnel recruiting services business, the Company also operates the following platforms as permanent placement services: Nurse de Hatarako, a job agency service for medical professionals, and Nursing Care de Hatarako, a job agency service for nursing jobs. The company said it aims to expand the user and customer bases for these services through the vigorous efforts of its sales force and its service development and promotional capabilities.

Within the digital transformation business, during the first three months of the year, the business saw an increase in sales of its products, including Interview Scheduling KOBOT, which automatically schedules interviews with job applicants, Temp Agency KOBOT, which supports dispatch companies’ sales activities with automated sales list creation services, and Corporate Recruiting Page KOBOT, which creates client recruiting pages featuring Baitoru’s unique functions, such as workplace introduction videos. As a result, revenue was up 20.8% over the year via it’s digital transformation business

Looking ahead, the group forecasted revenue of JPY 57.60 billion (USD 357.73 million) for the year ended 28 February 2025.

Dip Corp shares closed today at JPY 2,760.00 (USD 17.14), down 0.22% on the day and 12.88% above the 52-week low of JPY 2,445.00 (USD 15.19) set on 18 January 2024. The company has a market cap of JPY 166.35 billion (USD 1.03 billion).