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Japan – WDB Holdings revenue rises 10.1% but net income slips

08 February 2019

WDB Holdings (2475: JP), a Japanese recruitment and HR services firm, reported revenue for the nine months ended 31 December 2018 of JPY 31.2 billion (USD 284.4 million), an increase of 10.1% compared with last year.

(JPY millions) 9 months 2018 9 months 2017 Change 9 months 2018 (USD millions)
Revenue 31,228 28,361 10.1% 284.4
Operating Profit 3,992 3,308 20.7% 36.3
Net Income 2,469 2,736 -9.8% 22.4

During the nine-month period, the group acquired all the shares of DZS Software Solutions, a US Contract Research Organisation company, through its US subsidiary, WDB Medical Data, Inc. (WDBMD).

WDB Holdings provides four core services primarily in the life sciences sector: human resource services (permanent placement and temporary dispatch), outsourced research services (CRO), R&D/manufacturing, and ‘interaction’ services (M&A and research).

The group reported ‘robust’ sales of science research staff and the dispatch of engineering-related technical staff during the period for its HR services division.

For the full year ended 31 March 2019, the company forecasted revenue of JPY 42.6 billion (USD 388.0 million).

In trading today WDB Holdings shares closed at JPY 2,602.00 (USD 23.70), down 0.80% on the day and 29.07% above the 52-week low of JPY 2,016.00 (USD 18.37) set on 25 December 2018. Based on its current share price the company has a market value of JPY 52.62 billion (USD 479.37 million).

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