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Japan – Hito Communications reports revenue for nine-month period

10 July 2019

Japanese human resources provider Hito Communications (3654: JP) reported revenue for the nine months ending 31 May 2019 of JPY 47.71 billion (USD 438.0 million).

In their announcement, the firm did not provide the prior year’s results for comparison, however Hito’s nine-months results for 2018 can be found here suggesting a very marginal lift in revenue from JPY 47,619 million (USD 422.4 million) to JPY 47,711 (USD 438.0 million).

(JPY millions) 9 months 2019 9 months 2019 (USD millions)
Revenue 47,711 438.0
Operating Profit 2,369 21.7
Net Profit 1,328 12.1

In June 2019 Hito Communications announced that it agreed to acquire Japan-based Triangle, a tour operator.

Hito offers temporary staffing, business recruitment and outsourcing, business sales promotion, outsourced sales support, and employee training outsourcing services, as well as recruitment services for individual users in distribution and service sectors.

Looking ahead, the company forecasted revenue of JPY 65.5 billion (USD 602.3 million) for the full year ended August 2019.

In trading today, Hito Communications shares closed at JPY 1,822.00 (USD 16.73), down 0.22% on the day and 16.84% below its 52-week high of JPY 2,191.00 (USD 20.12), set on 8 April 2019. Based on its current share price the company has a market value of JPY 32.68 billion (USD 300.0 million).

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