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Pasona Group of Japan has announced its OVERVIEW OF CONSOLIDATED BUSINESS RESULTS

Pasona Group of Japan has announced its OVERVIEW OF CONSOLIDATED BUSINESS RESULTS

FY2010 (June 1, 2010 to May 31, 2011)

Nine Months Ended February 28, 2011

Consolidated net sales for the nine months ended February 28, 2011 declined 2.5% compared with the corresponding period of the previous fiscal year to 132,664 million.

The Global Sourcing (Overseas) business performed steadily buoyed by growing demand for global human resources reflecting the accelerated pace at which Japans corporate sector is shifting operations overseas.

The Place & Search (Placement / Recruiting) business entered a positive turnaround phase on the back of an upswing in job offers for employees capable of delivering immediate results mainly in the sales and marketing as well as the engineering fields.

In the Expert Services (Temporary staffing) business, new orders steadily increased. At the same time, efforts to regulate temporary staffing job types led to an upswing in direct employment and downward adjustments in demand. The number of long-term temporary staff remained stagnant.

The Insourcing (Contracting) business benefited from increased orders from public office, local government authority and other public sector-related activities.

Following a round of restructuring by the corporate sector, new orders in the Outplacement business continued to decline.

Despite the substantial decrease in selling, general and administrative (SG&A) expenses, operating income and ordinary income declined to 1,286 million and 1,330 million, respectively.

Despite incurring a net loss of 334 million for the period under review, results were significantly improved compared with the previous corresponding period.


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