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Japan – Trust Tech H1 revenue up 35.6%, profits climb

11 February 2019

Japanese technical staffing firm Trust Tech (2154: JP) reported revenue last week of JPY 40.24 billion (USD 366.0 million) for the first six months ended 31 December 2018, an increase of 35.6% compared with the previous year.

JPY millions) H1 2019 H1 2018 Change H1 2019 (USD millions)
Revenue 40,246 29,676 35.6% 366.0
Operating Profit 3,112 2,210 40.8% 28.3
Net Income 2,000 1,312 52.4% 18.1

During the period, Trust Tech announced the acquisition, through its British subsidiary Gap Personnel, of UK-based staffing firm Quattro Group. In January 2019, Trust Tech also announced that it had made a minority investment with the acquisition of 44.42% of the shares of L&A investment corporation, which owns Vietnam HR company Le & Associates.

Looking ahead the company forecasted revenue of JPY 82.0 billion (USD 745.7 million) for the year ended June 2019.

In trading last week Trust Tech shares closed at JPY 3,510 (USD 31.92), up 6.5% on the day. Based on its current share price the company has a market value of JPY 74.37 billion (USD 676.3 million).


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