Revenues up over 14% in Q1 2019 for Pasona
Pasona has released its results for the first quarter of 2019. The company recorded revenues of JPY82,997m up 14.5%. However, the company stated a loss of JPY 7m. Group CEO and President Yasuyaki Nambu is forecasting sales of JPY343,000m for the year with profits of JPY1,600m.
During the first quarter accounting period, the amount of goodwill has increased by ¥731m in the segment of “Expert Services (Temporary staffing), Insourcing (Contracting), Others”. It was due to acquiring shares of NTT Human Solutions Corporation (currently Pasona Human Solutions Inc.) and making it a consolidated subsidiary, and staffing business assignment of NTT-ME Service Corporation, NTT Solco & Hokkaido Telemart Corporation, TelWel West Nippon Corporation. and DOCOMO Data Com, Inc.
During the first quarter accounting period, gain on bargain purchase of ¥601m was recorded in the segment of “Expert Services (Temporary staffing), Insourcing (Contracting), Others”. It was due to acquiring shares of TelWel Job Support Corporation (currently Pasona Job Support Inc.) and making it a consolidated subsidiary. As gain on bargain purchase is a part of extraordinary income, it is not included in the segment income.
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