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Japan – Dip Corp revenue and profits climb in first quarter

11 July 2019

Japan-based staffing firm and job board Dip Corp. (2379: JP) reported revenue today for the year ended 28 February 2019 of JPY 12.01 billion (USD 111.2 million), an increase of 11.1% compared to the same period last year.

(JPY millions) Q1 2019 Q1 2018 Change Q1 2019 (USD millions)
Revenue 12,015 10,812 11.1% 111.2
Operating Profit 3,736 3,169 17.9% 34.5
Net Income 2,478 2,152 15.2% 22.9

Revenue growth was primarily attributable to the favourable performance of job advertisement media in the Personnel Recruiting Services Division. Dip Corp is ranked 9th in SIA’s recently published report on the largest online job advertising firms globally.

The Personnel Recruiting Services Division operates job advertising platforms, including 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 Nurse de Hatarako, career-change services for nurses. Revenue for the division was up 11.1% compared to last year.

The group’s Other division consists of new businesses that are primarily at the start-up stage including AI start-ups. Revenue rose by 8.0% compared to last year.

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

Looking ahead, the company forecasted revenue between JPY 45.6 billion (USD 422.1 million) to 46.7 billion (USD 432.2 million) for the year ended February 2020.

In trading today Dip Corp shares closed at JPY 1,849.00 (USD 17.12), down 1.07% on the day and 23.10% above the 52 week low of JPY 1,502.00 (USD 13.90) set on 14 May 2019. Based on its current share price the company has a market value of JPY 115.88 billion (USD 1.07 billion).

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