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Japan – Career Bank Q1 revenue slides but recovers from loss

08 October 2019

Japanese staffing firm Career Bank (4834: JP) reported revenue for the first quarter ended 31 August 2019 of JPY 1.38 billion (USD 12.9 million), a fall of 1.4% compared to last year.

(JPY millions) Q1 2019 Q1 2018 Change Q1 2019 (USD millions)
Revenue 1,384 1,404 -1.4% 12.9
Operating Profit 19 -14 N/A 0.1
Net Income 8 -12 N/A 0.0

Career Bank offers temporary staffing services; recruitment; payroll; outplacement; and other services. The “Other” segment includes Career Bank’s language training business in China.

The group reported lower sales in its temporary staffing and recruitment businesses. Sales were up in its payroll and payroll processing business. Sales in its Japanese language school management also increased.

Looking ahead the company forecasted revenue of JPY 6.03 billion (USD 56.28 million) for the year ended May 2020.

In trading today Career Bank shares closed at JPY 940.00 (USD 8.77), up 2.17% on the day. Based on its current share price the company has a market value of JPY 933.42 million (USD 8.71 million).

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