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PASONA GROUPs CONSOLIDATED BUSINESS RESULTS

OVERVIEW OF PASONA GROUP’s CONSOLIDATED BUSINESS RESULTS

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

Fiscal Year Ended May 31, 2011

The Insourcing (Contracting) business exhibited substantial growth benefiting from increased orders from government and other public offices as well as local government authorities.

Demand for personnel was buoyant in and outside Japan. As the shift overseas by Japan’s corporate sector gathered pace, Global Sourcing (Overseas) activities expanded. Activity in the Place & Search (Placement / Recruiting) business was also robust. This was largely attributable to the upswing in job offers for personnel capable of achieving immediate results.

In the Expert Services (Temporary staffing) business, new orders increased. At the same time, efforts by Japan’s Health, Labour and Welfare Ministry to regulate temporary staffing job types, and the confusion that ensued after the earthquake, constrained demand for temporary staff.

Revenue and earnings are forecast to increase in the fiscal year ending May 31, 2012. This is largely attributable to expectations that the Insourcing business will continue to grow and the projected recovery in earnings in the second half.

The Company has declared a period-end cash dividend of &yen1,000 per share. The cash dividend for the fiscal year ending May 31, 2012 is projected to be &yen1,200 per share.

1. Consolidated Business Results (June 1, 2010 to May 31, 2011) FY2009

FY2010

Increase /

(Decrease)

YoY

Net sales

183,515

178,806

(4,709)

(2.6)%

Gross profit

36,731

33,558

(3,172)

(8.6)%

to net sales

20.0%

18.8%

(1.2)pt

SG&A expenses

33,070

31,125

(1,945)

(5.9)%

to net sales

18.0%

17.4%

(0.6)pt

Operating income

3,660

2,432

(1,227)

(33.5)%

to net sales

2.0%

1.4%

(0.6)pt

Ordinary income

4,044

2,571

(1,472)

(36.4)%

to net sales

2.2%

1.4%

(0.8)pt

Income before income taxes

3,833

2,496

(1,336)

(34.9)%

to net sales

2.1%

1.4%

(0.7)pt

Net loss

204

412

207

101.4%

to net sales

0.1%

0.2%

0.1pt

Net income per share (Yen)

564.99

1,101.88

(536.89)

95.0%

Consolidated operating income fell 33.5% compared with the previous fiscal year to &yen2,432 million and onsolidated ordinary income dropped 36.4% year on year to &yen2,571 million.

Pasona Group recorded extraordinary income on the gain on sales of investment securities totaling &yen463 million. After accounting for extraordinary losses of &yen480 million, representing the loss on adjustment for changes of accounting standard for asset retirement obligations in accordance with changes in accounting standards, and &yen63 million reflecting leave compensation payments to temporary staff as a result of the Great East Japan Earthquake, income before income taxes came in at &yen2,496 million, a decrease of 34.9% compared with the previous fiscal year.

Consolidated net income increased 101.4% year on year to &yen412 million. This was largely due to the considerably smaller impact of tax-effect accounting compared with the previous fiscal year.

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