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Japan – Will Group upgrades Q2 forecast

19 September 2019

Japanese HR firm Will Group (6089:TYO) upgraded its forecasts for the second quarter of the year ended 30 September 2019.

The firm originally forecasted revenue of JPY 58 billion as well as operating income of JPY 1.4 billion (USD 12.9 million) and net income of JPY 650 million (USD 6.0 million).

Will Group now forecasts revenue of JPY 61 billion (UDS 565.2 million), operating income of JPY 2.1 billion (USD 19.4 million) and net income of 1.1 billion (USD 10.1 million).

The group said it expects to exceed initial expectations due to strong overseas demand for its HR business and start-up human resources support business.

Will Group’s human resources business focuses on temporary staffing, business contracting and recruitment.

In addition to human resources, the group has a sales outsourcing segment, call centre outsourcing segment, factory outsourcing segment as well as a nursing care support segment.

In trading today, Will Group shares closed at JPY 864.00 (USD 8.01), down 0.46% on the day and 13.24% above the 52 week low of JPY 763.00 (USD 7.07) set on 4 January 2019. Based on its current share price the company has a market value of JPY 19.61 billion (USD 181.7 million).

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