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Investing.com -- Japanese recruitment company dip reported first-quarter revenue of ¥15.8 billion, up 3.3% year-over-year, slightly below analyst expectations but with operating profit exceeding forecasts.
The company announced its Q1FY2/26 results on Tuesday, showing operating profit of ¥3.38 billion, down 16.1% year-over-year but above the consensus estimate of ¥3.06 billion. The company maintained its full-year forecasts and dividend guidance.
Advertising costs reached ¥3.8 billion in the quarter, representing a 45% increase from the previous year, partly due to MLB sponsorship expenses.
In the Media/HR segment, revenue grew to ¥13.2 billion, up 3.4% year-over-year, with operating profit of ¥4.99 billion. While subscriber companies decreased by 2.7% year-over-year, the unit price increased by 6.2% compared to the same period last year.
The DX segment posted revenue of ¥1.79 billion, a 4.9% year-over-year increase, with segment operating profit of ¥1.08 billion. The stock ratio improved to 74.8% from 72.3% in Q1 of the previous year.
The company’s new Spot Baitoru service showed promising growth, with job postings increasing 1.6 times quarter-over-quarter and worker numbers rising 2.3 times. Advertising related to Spot Baitoru amounted to ¥1.05 billion in Q1.
During the results meeting, dip emphasized its commitment to worker protection in the spot work market by implementing cancellation fees for companies. The company also noted that synergies between Baitoru and Spot Baitoru are beginning to materialize, though Spot Baitoru is expected to be loss-making this year due to ongoing investments.
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