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Pasona Group Issues Overview of Consolidated Business Results

Pasona Group Issues Overview of Consolidated Business Results

FY2011 (June 1, 2011 to May 31, 2012)

Three Months Ended August 31, 2011

Results in the Insourcing (Contracting) business grew substantially. In addition to an upswing in the Place & Search (Placement / Recruiting) business due largely to the increased willingness to recruit human resources by the corporate sector, Global Sourcing (Overseas) activities were firm. As a result, consolidated net sales increased by 3.0% year on year to &yen45,901 million (&pound382, 265 million).

In the Outplacement business, a quick and definitive turnaround in the placement of job seekers as well as successful efforts to enhance efficiency led to improved gross profit margins.

In contrast, the number of long-term temporary staff declined slightly in the Expert Services (Temporary Staffing) business. Despite the underlying strength provided by new orders, this was largely attributable to the decline in demand reflecting a drop in corporate-sector confidence due to such factors as the earthquake disaster as well as the rapid and dramatic appreciation in the value of the yen.

SG&A expenses increased slightly in line with the recovery in net sales.

Consolidated operating income and ordinary income, however, significantly rose

93.9% and 75.4% year on year, to &yen601 million and &yen560 million, respectively.

Net income of &yen111 million, significantly improved compared with the net loss in the previous corresponding period.

Due to the deferment of a portion of costs to other periods together with profit improvements compared with plans reflecting the increase in earnings in the Insourcing and Place & Search businesses, the Company has decided to upwardly revise its consolidated business results forecasts for the first half of FY2011.


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