Which Japanese recruiters are defying the pandemic to maintain growth?
Japan is the world’s second largest recruitment sector by sales and the third largest by headcount, according to the WEC, but how have it’s top recruiters weathered the Covid 19 crisis?
Several have announced their financial results for the year ending 31st December 2021, with many managing to maintain sales with profits hit hardest by the pandemic.
Japan’s Outsourcing Inc, which completed its acquisition of CPL Resources last month, said turnover was marginally up at JPY 366,711 million while profits were down almost 60% at JPY 3,324 million. That, however, has not put a dampener on the company’s acquisitions with three more deals already announced in the first two months of the new fiscal year. These included HorizonOne Recruitment Pty Ltd in Australia, Select Staff Company, Itec Co and Shinsei Sangyo Co., Ltd all in Japan.
President and CEO, Haruhiko Doi, says that for its next year the company expects sales of JPY 528,000 million and profits of JPY 12,800 million.
JAC Recruitment CEO, Takeshi Marsuzono, announced that sales were down by 10.6% at JPY 21,614 million and profits were impacted by 57.9%, coming in at JPY 1,834 million. For its next financial year the company has forecast revenue of JPY 22,463 million and profits of JPY 3,345 million.
Fullcast Holdings announced that sales were down slightly at JPY 43,226 million and profits were down 11.4% to JPY 4,113 million. Commenting, CEO, Kuzuki Sakamaki said the company was targeting sales of JPY 45,400 million with profits of JPY 4,117 million for its next fiscal year.
Altech Corporation CEO, Hiroshi Noda, said that turnover was JPY 35,753 million - just under forecast. However, profits were up 5% at JPY 3,057 million. The company has set target revenues of JPY 40,000 million and profits of JPY 3,060 million for its next fiscal year.
Announcing its Q3 financial performance, Crie Anabuki showed a dip in revenues at JPY 4,371 million, but profits were up 19% to JPY 115 million. President and CEO, Hiroshi Juguchi says the company is on track to hit its forecasts on both turnover and profit.
Tsukui Holdings has announced its Q3 figures showing turnover up 2.9% to JPY 70,367 million, however, profits were down 2.2% to JPY 1,606 million. CEO, Mitsuteru Shimomura said the company is forecasting full year numbers of JPY 94,367 million turnover, and profits of JPY 2,167 million.
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