TALiNT Partners Insights provides invaluable information that enables businesses to make informed, strategic decisions. Our curated insights are your tools for problem-solving, fostering growth, and achieving success within talent acquisition and staffing.

Meitec’s consolidated financial report

Table of Contents

Information

Categories

Author

Japanese engineering recruitment firm, Meitec, announced its results for the first quarter. According to Hideyo Kokubun, President of Meitec, during the first quarter of the current fiscal year (the three months from April 1, 2021 to June 30, 2021), the economic climate remained challenging due to intermittent restrictions on economic activities caused by the re-issuance of a state of emergency due to the re-emergence of COVID-19 in some areas of the country. Although Meitec’s manufacturing clients showed signs of recovery as well as its order environment showing signs of recovery, the future remains uncertain.

As a result, consolidated net sales for the period under review increased ¥1,431m, or 6 percent, from a year earlier to ¥25,196m. Consolidated cost of sales increased ¥1,368m, or 7.8 percent, from a year earlier to ¥18,835m, due mainly to an increase in labour expenses associated with a growth in the number of engineers. Consolidated selling, general and administrative expenses increased ¥288m, or 8.2 percent, from a year earlier to ¥3,807m, due mainly to an increase in hiring-related expenses. As a result, consolidated operating profit decreased by ¥225m, or 8.1 percent, from a year earlier to ¥2,552m.

If you have any interesting news to share, please email the Editor at Debbie.walton@talintpartners.com

 

 

 

 

Share

Target Recruit MPU
TIARA AWARDS CAMPAIGN