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Japan – Dip Corp full year revenue rises on growth in Personnel Recruiting Services division

12 April 2019

Japanese staffing firm and job board Dip Corp. (2379: JP) reported revenue today for the year ended 28 February 2019 of JPY 42.17 billion (USD 376.9 million), an increase of 10.8% compared to the same period last year.

(JPY millions) FY 2018 FY 2017 Change FY 2018 (USD millions)
Revenue 42,176 38,062 10.8% 376.9
Operating Profit 12,745 10,799 18.0% 113.9
Net Income 8,910 7,531 18.3% 79.6

Dip Corp is primarily involved in the provision of job information and employment agency business through the internet.

During the year, Dip Corp said there was strong demand for the company’s job information services against a backdrop of labour shortages.

The company said that to meet demand, it hired 296 new graduates in April 2018, established two new sales offices, and expanded/relocated four offices in an effort to strengthen the basis of its sales structure.

Dip Corp operates in two segments: Personnel Recruiting Services and ‘Other business’.

The company’s Personnel Recruiting Services Division focused continuously on increasing its sales capability and product appeal and sought to strengthen its brand and further increase the number of website users.

The Personnel Recruiting Services Division is engaged in the job information advertising business and includes Baitoru.com, a job information site for temp and part-time jobs, Baitoru NEXT, a job information site for regular employees and contract employees, Hatarako.net, a comprehensive job information site, and Nurse de Hatarako, job-change services for nurses.

Revenue for the Personnel Recruiting Services Division grew by 10.8% year on year to JPY 42.161 billion (USD 376.79 million).

The company’s ‘Other business’ division consists of new businesses that are primarily at the start-up stage. Revenue amounted to JPY 14 million (USD 0.1 million), up from JPY 3 million (approximately USD 26,811) last year.

Looking ahead the company forecasted revenue of JPY 43 billion (USD 384.3 million) for the full year ended 29 February 2020.

In trading today, Dip Corp shares closed at JPY 1,972.00 (USD 17.62), up 2.76% on the day and 18.44% above the 52 week low of JPY 1,665.00 (USD 14.88) set on 25 December 2018. Based on its current share price the company has a market value of JPY 118.98 billion (USD 1.06 billion).

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