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Japan – Fullcast Holdings revenue and profits climb

12 August 2019

Japan-based staffing firm Fullcast Holdings (4848: JP) reported revenue on Friday of JPY 21.20 billion (USD 201.5 million) for the first six months ended 31 December 2018, a 15.5% increase compared to last year.

(JPY millions) H1 2019 H1 2018 Change H1 2019 (USD millions)
Revenue 21,203 18,354 15.5% 201.5
Operating Profit 3,453 2,749 25.6% 32.8
Net Income 2,323 1,869 24.3% 22.1

Fullcast provides short-term human resources placement, payroll service outsourcing and long-term human resources dispatching. In the short-term operational support business, the company supports the following sectors: distribution, warehouse work, relocation, manufacturing, catering, sales promotion, call centres, and offices.

The company also announced that it entered into a joint venture agreement with Singapore-based Advancer Global. The joint venture will have a registered share capital of JPY 80 million (USD 0.7 million). Advancer said it is planning to develop a human resources service that sends foreign workers to Japan.

The joint venture agreement follows last year’s announcement that Advancer entered into a share subscription agreement with Fullcast.

Looking ahead the company forecasted revenue of JPY 42.30 billion (USD 402.1 million) for the year ended December 2019.

In trading on Friday, Fullcast shares closed at JPY 2,120 (USD 20.15), down 1.89% on the day. Based on its current share price, the company has a market value of JPY 81.59 billion (USD 775.6 million).

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