Matching Service H1 revenue surges 70%
Matching Service H1 revenue surges 70%
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Matching Service Japan (6539:TYO), a recruitment firm based in Japan, reported revenue on 13 November 2024 of JPY 3.86 billion (USD 24.9 million) for the first six months ended 30 September 2024, an increase of 70.3% when compared to the same period a year ago.
(JPY millions) | H1 2024 | H1 2023 | Change | H1 2024 (USD millions) |
Revenue | 3,868 | 2,271 | 70.3% | 24.9 |
Gross profit | 3,076 | 2,270 | 35.5% | 19.8 |
Gross margin | 79.5% | 99.9% | - | - |
EBITDA | 1,137 | 943 | 20.5% | 7.3 |
Operating Income | 903 | 903 | -0.1% | 5.8 |
Net Income | 589 | 693 | -14.9% | 3.8 |
The company is mainly focused on legal and accounting/finance professions such as attorney, certified public accountant, and tax accountant, among others, and management sector jobs, such as accounting, finance, human resources and general affairs, legal, and corporate planning, among others.
While sales of services for administrative departments in non-tech areas (human resources, general affairs, and information systems) increased, the demand for digital transformation in administrative departments during the COVID-19 pandemic has run its course, and as a result, advertising placements related to digital transformation tech decreased, resulting in a 22.7% decrease from last year.
Sales in the non-tech area grew by 89.8%. In addition, the group is planning to launch new education and office services and is planning to expand into new areas to replace the digital transformation area and increase sales compared to the previous consolidated accounting period as expected.
Matching Service forecasted revenue of JPY 8.24 billion (USD 53.2 million) for the year ended 31 March 2025.
Matching Services shares closed on 13 November at JPY 1,052.00 (USD 6.79), down 0.38% on the day and 22.18% above the 52-week low of JPY 861.00 (USD 5.56) set on 5 August 2024. The company has a market cap of JPY 26.40 billion (USD 170.4 million).