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Japan – Pasona Group full year revenue up 5.0% on back of HR Solutions growth

12 July 2019

Japanese staffing giant Pasona Group (2168: JP), reported revenue for the full-year ending 31 May 2019 of JPY 326.98 billion (USD 3.01 billion), an increase of 5.0% compared with last year.

(JPY millions) FY 2018 FY 2017 Change FY 2018 (USD millions)
Revenue 326,984 311,410 5.0% 3,014
Operating Profit 9,465 6,539 44.7% 18.2
Profit attributable to owners of parent 1,975 1,288 53.4% 11.4

Through its subsidiaries, Pasona provides human resource solutions in Japan and internationally. It offers temporary staffing/contracting, outsourcing, and outplacement services. The company also offers additional services, such as a childcare service; foreign language education abroad; public solutions, such as employment of persons with disabilities; and other social welfare businesses.

The HR Solutions segment is broken down as follows:

(JPY millions) FY 2018 FY 2017 Change FY 2018 (USD millions)
Expert Services (Temporary staffing), Insourcing (Contracting), Others 272,309 261,614 4.1% 2,510.6
Career Solutions (Placement/Recruiting, Outplacement) 15,377 13,923 10.4% 141.7
Outsourcing 35,188 32,656 7.8% 324.4
HR Solutions Total 322,876 308,194 4.8% 2,976.9

Looking ahead, the company forecasted revenue of JPY 344 billion (USD 3.17 billion) for the year ended 31 May 2020.

In trading today Pasona Group shares closed at JPY 1,631.00 (USD 15.04), up 0.55% on the day and 18.25% below its 52-week high of JPY 1,995.00 (USD 18.40), set on 18 July 2018. Based on its current share price the company has a market value of JPY 68.66 billion (USD 633.1 million).

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