15 April 2024
Japanese staffing firm TwoStone & Son (7352: TYO), previously known as Branding Engineer, reported revenue on Friday of JPY 6.49 billion (USD 42.1 million) for the six months ended 29 February 2024, an increase of 41.5% when compared to the prior year period.
| (JPY millions) | H1 2024 | H1 2023 | Change | H1 2024 (USD millions) |
| Revenue | 6,490 | 4,585 | 41.5% | 42.1 |
| Gross profit | 1,765 | 1,221 | 44.5% | 11.4 |
| Gross margin | 27.2% | 26.6% | – | – |
| Operating income | 67 | 140 | -52.2% | 0.4 |
| Net income | 13 | 97 | -86.2% | 0.1 |
TwoStone & Sons Inc is a Japan-based company mainly engaged in the provision of information technology engineer resources and digital marketing. The company operates through two segments. The Engineer Platform Service segment is engaged in the Midworks business, which operates a matching platform service between IT engineers and companies that want to develop IT services and systems for their own use. The Marketing Platform Service segment is engaged in the media business centred on information dissemination media for IT engineers and business people.
The group said revenue grew amid an environment where demand for IT utilisation and digital transformation in various industries is increasing, and the demand for improving IT skills for IT professionals and the general public is on the rise.
TwoStone & Son announced in January that it will acquire Maple Systems, a company that provides IT engineer job matching services.
Looking ahead the company forecasted revenue of JPY 13.87 billion (USD 90.1 million) for the year ended 31 August 2024.
TwoStone & Son shares closed on Friday at JPY 1,779 (USD 11.56), up 0.05% on the day. The company has a market cap of JPY 77.69 billion (USD 504.76 million).