Worth reading
76Important
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Improvement
Direction inferred from the company’s description.Scale
60
¥100 million (increase from the original full-year revenue forecast)Wording
Conditional
How definitive the wording is.Contents of this document
Financial Results PresentationFY2022 Q114 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥315.3 million+10.1%
Operating profit¥11.3 million+14.9%
Ordinary income¥11.4 million+17.3%
Net income¥7 million+11.1%
Gross Profit Margin21.9%
Operating profit margin3.6%
Selling, general and administrative expenses¥58 million
Results for the three months of the current quarterRevenue of ¥31.53 billion, gross profit of ¥6.90 billion, operating profit of ¥1.13 billion, profit before tax of ¥1.14 billion, and profit attributable to owners of the parent of ¥700 million
Full-year earnings forecast
Revenue
¥1,270 million
Gross profit
¥271.7 million
Operating profit
¥40.5 million
Profit for the period attributable to owners of the parent
¥22.8 million
EBITDA
¥58.1 million
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Q1 earnings forecast outperforming expectationsBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
- Q1 earnings forecast outperforming expectations
- Review of foreign exchange assumptions
- Upfront investment (recruitment of construction engineers and strengthening of the sales organization)¥6 million
- Upfront investment (strengthening the consultant workforce in the nursing care, IT talent and startup sectors)¥7 million
- One-off impact¥9.5 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
- Australian dollar exchange rate assumptionInitial forecast68Revised forecast84
- Singapore dollar exchange rate assumptionInitial forecast72Revised forecast82
- Upfront investment in recruiting construction engineers and strengthening the sales organization¥6 million
- Upfront investment in strengthening the consultant workforce in the nursing care, IT talent and startup sectors¥7 million
New initiatives
- Enhancement of functions in the WILLOF smartphone app (online submission of applications)
- Consolidation of sales offices and administrative functions through the merger of ウィルオブ・ワーク and ウィルオブ・ファクトリー
- Expansion of the free version and contracts for ビザマネ, a visa-management service
- Strengthening the consultant workforce in the nursing care, IT talent and startup sectors
Key KPIsA metric the company considers important as a management benchmark.
- EBITDA¥16.1 millionYear on year against the same period last year+6.9%
- Number of Employees5,156 peopleYear on year against the same period last yearUp 311 people from the end of the previous fiscal year
- Equity ratio attributable to owners of the parent19.1 %Year on year against the same period last yearImproved
- Number of hires in the construction engineering sector212 peopleYear on year against the same period last yearIncreased
- Number of recruitment agents in the nursing care sector53 peopleYear on year against the same period last yearIncreased
Unit price and quantity metricsThese figures show sales broken down by price and volume.
- Number of active construction engineers690 people
- Utilization rate in the construction engineers sector97.5 %
- Average hours worked in the construction engineering sector173.7 Time
- Average billing rate in the construction engineering sector¥730 thousand
- Number of dispatched nursing care workers on assignment5,112 people
Segment results
- Domestic WORK businessRevenue¥198.3 millionYear on year against the same period last year+0.3%Segment profit¥9.7 millionYear-on-year profitDecreased
- Overseas WORK businessRevenue¥114.1 millionYear on year against the same period last year+35.0%Segment profit¥7.5 millionYear-on-year profitIncreased
- OtherRevenue¥2.8 millionYear on year against the same period last yearDecreasedSegment profit¥-1 millionYear-on-year profitDeteriorated
Medium-term management plan targets
Equity ratio attributable to owners of the parent
Target value20 %
Actual results19.1 %
Financial targets
Equity ratio attributable to owners of the parent
Target value20 %
Actual value19.1 %
Number of stores and locations
44 sales offices in the nursing care sector. Four new offices are scheduled to open in FY2022 and FY2023. In-period openings and closures: not disclosed.Number of employees
Number of Employees5,156 people
Change during the periodUp 311 people from the end of the previous fiscal year
Hiring plan131 new graduates in construction engineering joined the company in April 2021
Annual Dividend
Annual dividend per share¥25 per share
Year-end dividend¥25 per share
Payout ratio
Total payout ratio24.8 %
TargetTargeting a total payout ratio of 30% based on the initial earnings forecast for the fiscal year
Acquisition of treasury shares
The company will consider shareholder returns through increased dividends, share buybacks and other measures on a case-by-case basis. The amount, number of shares and period of the buyback authorization: not disclosed.| Item | Details |
|---|---|
| Document type | Financial Results Presentation |
| Fiscal Period Covered | FY2022 Q1 |
| Net Sales | ¥315.3 million (YoY +10.1%) |
| Operating profit | ¥11.3 million (YoY +14.9%) |
| Ordinary income | ¥11.4 million (YoY +17.3%) |
| Net income | ¥7 million (YoY +11.1%) |
| Gross Profit Margin | 21.9% |
| Operating profit margin | 3.6% |
| Selling, general and administrative expenses | ¥58 million |
| Results for the three months of the current quarter | Revenue of ¥31.53 billion, gross profit of ¥6.90 billion, operating profit of ¥1.13 billion, profit before tax of ¥1.14 billion, and profit attributable to owners of the parent of ¥700 million |
| Full-year earnings forecast | Revenue ¥1,270 million / Gross profit ¥271.7 million / Operating profit ¥40.5 million / Profit for the period attributable to owners of the parent ¥22.8 million / EBITDA ¥58.1 million |
| Self-assessment against the plan | Q1 earnings forecast outperforming expectations |
| Segment results | Segment Domestic WORK business / Revenue ¥198.3 million / Year on year against the same period last year +0.3% / Segment profit ¥9.7 million / Year-on-year profit Decreased, Segment Overseas WORK business / Revenue ¥114.1 million / Year on year against the same period last year +35.0% / Segment profit ¥7.5 million / Year-on-year profit Increased, Segment Other / Revenue ¥2.8 million / Year on year against the same period last year Decreased / Segment profit ¥-1 million / Year-on-year profit Deteriorated |
| Breakdown of Factors Affecting the Change | Factors Q1 earnings forecast outperforming expectations / Amount Not disclosed, Factors Review of foreign exchange assumptions / Amount Not disclosed, Factors Upfront investment (recruitment of construction engineers and strengthening of the sales organization) / Amount ¥6 million, Factors Upfront investment (strengthening the consultant workforce in the nursing care, IT talent and startup sectors) / Amount ¥7 million, Factors One-off impact / Amount ¥9.5 million |
| Key KPIs | Indicator name EBITDA / Value ¥16.1 million / Year on year against the same period last year +6.9%, Indicator name Number of Employees / Value 5,156 people / Year on year against the same period last year Up 311 people from the end of the previous fiscal year, Indicator name Equity ratio attributable to owners of the parent / Value 19.1 % / Year on year against the same period last year Improved, Indicator name Number of hires in the construction engineering sector / Value 212 people / Year on year against the same period last year Increased, Indicator name Number of recruitment agents in the nursing care sector / Value 53 people / Year on year against the same period last year Increased |
| Unit price and quantity metrics | Indicator name Number of active construction engineers / Value 690 people, Indicator name Utilization rate in the construction engineers sector / Value 97.5 %, Indicator name Average hours worked in the construction engineering sector / Value 173.7 Time, Indicator name Average billing rate in the construction engineering sector / Value ¥730 thousand, Indicator name Number of dispatched nursing care workers on assignment / Value 5,112 people |
| Number of stores and locations | 44 sales offices in the nursing care sector. Four new offices are scheduled to open in FY2022 and FY2023. In-period openings and closures: not disclosed. |
| Number of employees | Number of Employees 5,156 people / Change during the period Up 311 people from the end of the previous fiscal year / Hiring plan 131 new graduates in construction engineering joined the company in April 2021 |
| Assumptions Underlying the Business Outlook | Item Australian dollar exchange rate assumption / Initial forecast ¥68 / Revised forecast ¥84, Item Singapore dollar exchange rate assumption / Initial forecast ¥72 / Revised forecast ¥82, Item Upfront investment in recruiting construction engineers and strengthening the sales organization / Value ¥6 million, Item Upfront investment in strengthening the consultant workforce in the nursing care, IT talent and startup sectors / Value ¥7 million |
| Medium-term management plan targets | Item Equity ratio attributable to owners of the parent / Target value 20 % / Target fiscal year Not disclosed / Actual results 19.1 % |
| Financial targets | Equity ratio attributable to owners of the parent Target value 20 % / Actual value 19.1 % |
| Annual Dividend | Annual dividend per share ¥25 per share / Interim Dividend Not disclosed / Year-end dividend ¥25 per share |
| Payout ratio | Total payout ratio 24.8 % / Target Targeting a total payout ratio of 30% based on the initial earnings forecast for the fiscal year |
| Acquisition of treasury shares | The company will consider shareholder returns through increased dividends, share buybacks and other measures on a case-by-case basis. The amount, number of shares and period of the buyback authorization: not disclosed. |
| New initiatives | Enhancement of functions in the WILLOF smartphone app (online submission of applications), Consolidation of sales offices and administrative functions through the merger of ウィルオブ・ワーク and ウィルオブ・ファクトリー, Expansion of the free version and contracts for ビザマネ, a visa-management service, Strengthening the consultant workforce in the nursing care, IT talent and startup sectors |
Items this document does not state (6)
Progress against full-year forecastRisk amount incorporated into the outlookCapital expendituresOrders received and order backlogMarket Size / ShareKey points of the Q&A
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.The revision reflects the Q1 earnings forecast outperforming expectations and a review of the foreign exchange assumptions from Q2 onward. Domestic and overseas recruitment services performed strongly in Q1.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.