Will Group revenue ticks up 1.4%, domestic and overseas see growth
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Japanese HR firm Will Group (6089:TYO), which focuses on temporary staffing, business contracting and recruitment, reported revenue on 10 February of JPY 105.35 billion (USD 692.3 million) for the nine months ended 31 December 2024, an increase of 1.4% when compared to the same period last year.
JPY millions) | 9 months 2024 | 9 months 2023 | Change | 9 months 2024 (USD millions) |
Revenue | 105,353 | 103,917 | 1.4% | 692.3 |
Gross Profit | 22,096 | 23,107 | 4.6% | 145.2 |
Gross Margin | 20.9% | 22.2% | - | - |
Operating Income | 1,792 | 2,795 | -35.9% | 11.7 |
Profit before tax | 1,692 | 2,719 | -37.8% | 11.2 |
Net Income | 1,114 | 1,671 | -33.3% | 7.3 |
For the domestic working business, which offers temporary staffing, permanent placement, and business process outsourcing services in Japan, revenue was up 1.3% over the year.
For the overseas working business, which the company operates mainly in Singapore and Australia, while the trend of major clients reducing hiring has continued, revenue increased 1.7% mainly due to the yen’s depreciation compared to the same period of the previous fiscal year.
For the ‘others’ segment, due to the business transfer of the “VisaMane” foreign talent management system in the previous fiscal year and the business transfer of the “Enport mobile” mobile telecommunications business for foreign nationals, revenue was down 38.4%.
Looking ahead, the company forecasted revenue of JPY 140.40 billion (USD 922.6 million) for the year ended 31 March 2025.
Will Group shares closed on 10 February at JPY 1,015.00 (USD 6.67), up 1.30% on the day and 14.17% above the 52-week low of JPY 889.00 (USD 5.84) set on 17 September 2024. The company has a market cap of JPY 23.11 billion (USD 151.8 million).