Summary of Consolidated Financial Results for the First Quarterof the Fiscal Year Ending March 31, 2024
(Three Months Ended June 30, 2023)[Japanese GAAP]
July 31, 2023

Listing: Tokyo Stock Exchange, Prime Market
Company name: QUICK CO., LTD.
Stock code:
4318
URL: https://919.jp/
Representative: Tsutomu Wano, Chairman
Contact:
Kenta Kijima, Director and Executive Officer,
General Manager of Administration and Accounting Division
Tel: +81-6-6366-0919
Scheduled date of filing of Quarterly Securities Report:
August 10, 2023
Scheduled date of payment of dividend:–
Preparation of supplementary materials for quarterly financial results: None
Holding of quarterly financial results meeting:None(All amounts are rounded down to the nearest million yen.)

1. Consolidated Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2024
(April 1, 2023–June 30, 2023)(1) Consolidated results of operations(Percentages represent year-on-year changes.)
Net sales

Operating profit

Millions of yen% Millions of yen

Profit attributableto owners of parent

Ordinary profit% Millions of yen% Millions of yen

8,983
5.1
3,005 (9.5)
3,033 (9.2)
Three months ended Jun. 30, 2023
Three months ended Jun. 30, 2022
8,551 21.2
3,319 34.4
3,339 34.2
Note: Comprehensive income (millions of yen) Three months ended Jun. 30, 2023: 2,313 (up 13.7%)
Three months ended Jun. 30, 2022: 2,034 (up 13.2%)
Net income per share Diluted net income per share
Three months ended Jun. 30, 2023
Three months ended Jun. 30, 2022

Yen

Yen

112.56122.87

–
–

2,105
2,314

%

(9.0)
31.6

(2) Consolidated financial position
Shareholders’ equity ratio Net assets per share

Total assets

Net assets

Millions of yen

Millions of yen%

As of Jun. 30, 2023
19,977
15,213As of Mar. 31, 2023
20,17913,724
Reference: Shareholders’ equity (millions of yen)
As of Jun. 30, 2023: 15,211

Yen

76.1
68.0
As of Mar. 31, 2023: 13,723

813.13733.602. Dividends
1Q-end2Q-endYen

Fiscal year ended Mar. 31, 2023–
Fiscal year ending Mar. 31, 2024–
Fiscal year ending Mar. 31, 2024 (forecast)
Note: Revisions to the most recently announced dividend forecast: None

Dividend per share
3Q-endYear-end

Total

Yen

Yen

Yen

Yen

26.00

–

44.00

70.00

36.00

–

36.00

72.00

3. Consolidated Earnings Forecast for the Fiscal Year Ending March 31, 2024 (April 1, 2023 –March 31, 2024)
Net sales
Millions of yen(Percentages represent year-on-year changes.)
Profit attributable to
Net income
Ordinary profit
owners of parent
per share

Operating profit%

Millions of yen%

Yen

First half
15,899
7.4
3,815
4.6
3,838
4.5
Full year
30,0007.9
4,960 10.5
5,000 10.0
Note: Revisions to the most recently announced consolidated earnings forecast: None%

Millions of yen%

Millions of yen

2,649
3,353

4.4
2.8

141.63179.27

* Notes(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in changes inscope of consolidation): None
(2) Application of special accounting methods for presenting quarterly consolidated financial statements: None
(3) Changes in accounting policies and accounting-based estimates, and restatements
1) Changes in accounting policies due to revisions in accounting standards, others: None
2) Changes in accounting policies other than 1) above: None
3) Changes in accounting-based estimates: None
4) Restatements: None

(4) Number of shares issued (common shares)
1) Number of shares issued at the end of the period (including treasury shares)
As of Jun. 30, 2023:

19,098,576 shares

As of Mar. 31, 2023:

19,098,576 shares

As of Mar. 31, 2023:

391,355 shares

2) Number of treasury shares at the end of the period
As of Jun. 30, 2023:

391,355 shares

3) Average number of shares outstanding during the period
Three months ended Jun. 30, 2023: 18,707,221 shares

Three months ended Jun. 30, 2022: 18,837,275 shares* The current quarterly financial report is not subject to quarterly review by certified public accountants or accounting firms.
* Explanation of appropriate use of earnings forecasts, and other special items
Forecasts and forward-looking statements in these materials are based on assumptions judged to be valid and information
available to the Company’s management at the time the materials were prepared. These materials are not promises by theCompany regarding future performance. Actual results may differ significantly from these forecasts for a number of reasons. For
discussion of the assumptions and other factors considered by the Company in preparing the above projections, please refer topage 4 of the attachments “1. Qualitative Information on Quarterly Consolidated Financial Performance, (3) Explanation ofConsolidated Earnings Forecast and Other Forward-looking Statements.”

QUICK CO., LTD. (4318) Financial Results for the First Quarter of FY3/24

Contents of Attachments

1. Qualitative Information on Quarterly Consolidated Financial Performance .............................................. 2(1) Explanation of Results of Operations ...................................................................................................... 2(2) Explanation of Financial Position ............................................................................................................ 4(3) Explanation of Consolidated Earnings Forecast and Other Forward-looking Statements ......................... 4
2. Quarterly Consolidated Financial Statements and Notes ........................................................................... 5(1) Quarterly Consolidated Balance Sheet .................................................................................................... 5(2) Quarterly Consolidated Statements of Income and Comprehensive Income ............................................ 7
Quarterly Consolidated Statement of Income(For the Three-month Period) ............................................................................................................... 7
Quarterly Consolidated Statement of Comprehensive Income(For the Three-month Period) ............................................................................................................... 8(3) Notes to Quarterly Consolidated Financial Statements ............................................................................ 9
Segment Information ............................................................................................................................... 9

1

QUICK CO., LTD. (4318) Financial Results for the First Quarter of FY3/24

1. Qualitative Information on Quarterly Consolidated Financial Performance(1) Explanation of Results of Operations
During the first three months of the fiscal year ending March 31, 2024 (the “period under review”), the Japanese
economy experienced a moderate recovery driven by a pickup in personal consumption and other factors, with thelegal status of novel coronavirus infection shifting to a category 5 infectious disease ("Category 5") and further
normalization of economic activities. However, the economic recovery was hindered by unresolved problems suchas the prolonged Ukraine crisis, price increase on the back of higher resource and raw material costs, and the yen's
continued depreciation.
Japan’s labor market also reflects the shortage of labor in the corporate sector, with the seasonally adjusted job
openings-to-applicants ratio being 1.31 and the seasonally adjusted unemployment rate 2.6% in May 2023.
Under such business environment, the Group has been working on differentiating the QUICK Group fromcompetitors and increasing customer satisfaction by helping our client companies solve their HR related problems
by developing new markets and strengthening coordination between the group companies as well as further
expanding the existing businesses. The Group is also strengthening its business base by investing in human resources.
As a result, for the period under review, we achieved net sales of 8,983 million yen (up 5.1% year-on-year). On the
profit front, however, we posted operating profit of 3,005 million yen (down 9.5% year -on-year), ordinary profit of
3,033 million yen (down 9.2% year-on-year), and profit attributable to owners of parent of 2,105 million yen (down
9.0% year-on-year) due to increased personnel expenses resulting from improved employment conditions for
employees and the strengthening of new graduates and mid-career recruitment as part of our aggressive investments
in human resources.
Note that, effective from the first quarter of the fiscal year ending March 31, 2024, the name of the reportablesegment that was previously referred to as the IT and Internet-Related Business has been changed to the HR Platform
Business in order to more accurately represent the nature of the business. This change is merely a change in segment
name and has no impact on segment information.
Performance of the business segments is described as follows.
(Human Resources Services Business)
1) Personnel Placement
In the personnel placement category, corporate recruiting needs were robust in fields such as the construction,
electrical equipment, machinery, automobile, and IT industries. In addition, recruiting needs for nurses and childcare
workers still remained high in medical and welfare sectors. Under these circumstances, we made continued efforts,
including developing new markets for focus job fields and areas, enhancing promotional activities to attract
registrants, having more meetings with our client companies and registrants who wish to change careers, andproviding swift and extensive support. As a result, the personnel placement for specific fields targeting construction related jobs, various types of engineering jobs, etc. grew steadily, and the personnel placement for nurses andchildcare workers remained solid.
2) Temporary Staffing, Temporary-to-Permanent Staffing, and Business Contracting
In the temporary staffing, temporary-to-permanent staffing, and business contracting categories, performanceremained solid thanks to continuing strong needs for temporary staffing of nurses, although there was a decline inneeds for temporary staffing of call center due to the transition of COVID-19 to Category 5. Revenue also continued
to increase in the temporary staffing of childcare workers on the back of robust demand.
Overall, sales of the Human Resources Service Business increased 8.1% year-on-year to 6,854 million yen, but
operating profit decreased 1.8% to 2,918 million yen due mainly to an increase in personnel expenses resulting fromthe improvement of employment conditions.
(Recruiting Business)
In the Recruiting Business, hiring needs in the restaurant, hotel, and service sectors expanded on t he back of therelaxation of movement restrictions as a result of the transition of COVID -19 to Category 5. Additionally,
recruitment needs also remained strong in the medical and welfare sectors suffering chronic labor shortages.

2

QUICK CO., LTD. (4318) Financial Results for the First Quarter of FY3/24

Under such circumstances, in addition to our focus “Indeed” business, the handling of media for recruiting newcollege graduates performed steadily. On the other hand, the handling of media for recruiting part -time andtemporary staff leveled off and the handling of media for recruiting full-time employees targeting mid-career
recruiting faced difficult situation due to intensified competition with peers.
For services other than the handling of recruiting advertisement, the consulting service field such as program
development for internships and company information sessions for new graduate recruiting largely remained flat,
while the production field such as recruitment websites and company guides was sluggish.
Overall, sales of the Recruiting Business decreased 1.8% year-on-year to 749 million yen, and operating profit
decreased 56.3% to 75 million yen due mainly to an increase in personnel expenses resulting from the improvementof employment conditions.
(Information Publishing Business)
In the Information Publishing Business, the handling of advertisement placements for sales promotion targeting
restaurants, shops, and other businesses expanded, as sales promotion sentiment of our client companies further
recovered as a result of the transition of COVID-19 to Category 5. The handling of recruiting advertisement
performed well thanks to a robust job market in the Hokuriku region and Niigata, contributing to the solid
performance of the lifestyle information magazine category as a whole.
Also, posting services including flyers distributed to households performed well with increased revenues in all areas
targeted for distribution, especially in the handling of flyers related to housing, renovation, and schools.
Furthermore, in the consulting services we operate under the “cococolor.” brand, the career change domain posted
a significant growth in revenue on the back of a robust job market in the Hokuriku region and Niigata and as a resultof response to staff recruiting needs associated with new factory construction and floor space expansion in the
Hokuriku region. Additionally, this business category showed a healthy performance in the volume of “Indeed,” theproduction of websites and other web-related services.
Overall, sales of the Information Publishing Business increased 17.3% year-on-year to 643 million yen andoperating profit also increased 76.0% year-on-year to 114 million yen, covering an increase in personnel expenses
resulting from the improvement of employment conditions.
(HR Platform Business)
In the HR Platform Business, the market for “Nihon no Jinjibu” (Japan’s Human Resources Department) related
service continued to enjoy a strong demand for capital investment to improve business efficiency and promote DX,
whereby resolving issues in the HR domain, as well as for services related to recruiting and HR development.
Although needs to attract participants to training events and seminars related to personnel and labor issues continued,
advertising revenues from “Nihon no Jinjibu”—our portal website for personnel and labor relations were affectedby the curbing of the placement of advertisements by some large customers who had been actively expanding sales
promotions for their products during the pandemic. An online HR event, “Nihon no Jinjibu HR Conference 2023 —Spring—” held in May 2023 continued to perform well, with sales and total number of entries renewing record.
Overall, net sales of the HR Platform Business decreased 38.2% year-on-year to 378 million yen, and operating
profit decreased 37.3% to 203 million yen due mainly to an increase in personnel expenses resulting from theimprovement of employment conditions.
Note that, due to the sale of all shares of Kronos Co., LTD. in October 2022, the company’s operating results are
not included in the consolidated operating results of the QUICK Group for the period under review, resulting in adifference in results from the same period a year ago.
(Overseas Business)
In the U.S., revenue increased in both the personnel placement and temporary staffing businesses due to thecontinuing strong recruiting needs, as well as operations in Dallas, where the Company opened an office in January2022, are now on track. We also achieved substantial increase in revenue in Mexico and returned to prof itability on
the back of economic recovery following the settling down of the pandemic, as well as increased recruiting needs
for interpreters, translators, and managers caused by the new entry of Japanese companies in the Mexican market
and the transfer of their factories from China to Mexico in response to the U.S.-China issues.
3

QUICK CO., LTD. (4318) Financial Results for the First Quarter of FY3/24

In the U.K., as the job market for career change continues to be strong with corporate recruiting demand continuing
to be brisk, the temporary staffing business remained steady. On the other hand, the performance of the personnel
placement business leveled off due to an increase in the number of cases where recruitment activities took longer
as more companies wanted to acquire more talented personnel, as well as to delays in start dates of new hires caused
by longer visa processing times, etc.
In China, as companies resume business activities after the termination of the “zero -corona policy,” the performance
expanded in the personnel and labor consulting business especially in advis ory services due to the growing
importance of risk management in accordance with changes in the Personal Information Protection Law and otherlaws and regulations related to personnel and labor affairs. On the other hand, revenue from the personnel placeme nt
category decreased year-on-year as the re-spreading of infections caused by the end of the “zero-corona policy”
forced local companies to slow down business and recruiting activities again. Also in Vietnam, the slowdown inoutbound exports by manufacturing and trading companies and the slowdown in the domestic economy due to thesuspension of projects in the construction and real estate industries have led to a decline in corporate recruiting
demand, resulting in difficult business conditions. In Thailand, amid the recovery of economy and corporate
recruiting demand, revenue increased as a result of our efforts to step up recruitment to enhance manpower andcultivate companies with higher recruiting needs.
Overall, sales of the Overseas Business increased 25.5% year-on-year to 356 million yen and operating profit also
increased 6.4% year-on-year to 46 million yen.
(2) Explanation of Financial Position
Total assets at the end of the period under review decreased 202 million yen year-on-year from the end of theprevious fiscal year to19,977 million yen. This was mainly the result of decreases in notes and accounts receivable trade and deferred tax assets, despite increases in cash and deposits and investment securities.
Total liabilities decreased 1,690 million yen from the end of the previous fiscal year to 4,763 million yen. This was
mainly the result of decreases in income taxes payable and provision for bonuses.
Total net assets increased 1,488 million yen from the end of the previous fiscal year to 15,21 3 million yen. This was
mainly the result of an increase in retained earnings due to the booking of profit attributable to owners of parent.
The shareholders’ equity ratio improved 8.1 percentage points from the end of the previous fiscal year to 76.1%.
(3) Explanation of Consolidated Earnings Forecast and Other Forward-looking Statements
At this point, there are no revisions to the first-half and the full-year consolidated earnings forecasts for the fiscal
year ending March 31, 2024, which were announced in the “Summary of Consolidated Financial Results for the
Fiscal Year Ended March 31, 2023 (Japanese GAAP)” on April 28, 2023.
An announcement will be made promptly if the review of the progress of the QUICK Group’s operation status
requires a revision to this forecast.

4

QUICK CO., LTD. (4318) Financial Results for the First Quarter of FY3/24

2. Quarterly Consolidated Financial Statements and Notes(1) Quarterly Consolidated Balance Sheet
FY3/23(As of Mar. 31, 2023)(Thousands of yen)First quarter of FY3/24(As of Jun. 30, 2023)

AssetsCurrent assets
Cash and deposits

12,275,622

12,443,573

Notes and accounts receivable-trade

2,770,678

2,559,511

546,565

505,798

Other
Allowance for doubtful accounts
Total current assets(3,231)(2,847)

15,589,635

15,506,035

848,785

827,885

Non-current assets
Property, plant and equipment
Buildings and structures, net
Vehicles, net

8,819

8,364

Tools, furniture and fixtures, net

224,845

213,190Land

176,789

176,789

3,121

2,691

1,262,360

1,228,920

Software738,371673,516

Software in progress

148,042

222,986

4,205

3,738

Leased assets, net
Total property, plant and equipment
Intangible assets

Goodwill
Other

10,646

10,646

Total intangible assets

901,265

910,888

Investment securities

1,212,293

1,504,287

Leasehold deposits

719,732

719,780

Deferred tax assets

446,062

61,419Other

52,84650,802

Investments and other assets

Allowance for doubtful accounts(5,026)(5,036)

Total investments and other assets

2,425,907

2,331,252

4,589,534

4,471,061

20,179,169

19,977,096

Total non-current assets
Total assets

5

QUICK CO., LTD. (4318) Financial Results for the First Quarter of FY3/24(Thousands of yen)First quarter of FY3/24(As of Jun. 30, 2023)

FY3/23(As of Mar. 31, 2023)
Liabilities
Current liabilities
Accounts payable-trade672,740

541,252

Short-term borrowings

120,522

139,000

Accounts payable-other

1,304,770

957,374

Accrued expenses

812,050

1,078,443

Income taxes payable

866,202486,174

Accrued consumption taxes

635,407649,994

1,445,434

147,288

110,828–

5,508

10,186

Provision for bonuses
Provision for bonuses for directors (and otherofficers)
Asset retirement obligations
Other
Total current liabilities

370,542482,335

6,344,006

4,492,048

Non-current liabilities
Deferred tax liabilities

659

144,285

Retirement benefit liability–

17,791

Asset retirement obligations

107,898

108,377

1,833

1,486

110,392

271,940

6,454,398

4,763,988

Share capital

351,317351,317

Capital surplus

433,071430,995

Retained earnings

12,503,271

13,785,879

Treasury shares(343,650)(343,650)

12,944,008

14,224,541

723,782

925,332

Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders’ equity

Total shareholders’ equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment

55,75061,584

Total accumulated other comprehensive income

779,532

986,917

1,229

1,649

13,724,770

15,213,107

20,179,169

19,977,096

Non-controlling interests
Total net assets
Total liabilities and net assets

6

QUICK CO., LTD. (4318) Financial Results for the First Quarter of FY3/24(2) Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statement of Income(For the Three-month Period)First three months of FY3/23(Apr. 1, 2022–Jun. 30, 2022)(Thousands of yen)First three months of FY3/24(Apr. 1, 2023–Jun. 30, 2023)

Net sales

8,551,797

8,983,806

Cost of sales

2,261,614

2,296,159

Gross profit

6,290,182

6,687,647

Selling, general and administrative expenses

2,970,198

3,682,426

Operating profit

3,319,983

3,005,220

Non-operating income
Interest income

409

459

Dividend income

4,274

4,859

Foreign exchange gains

11,114

4,922

Book sales commission

2,304

10,103

Other

6,303

8,128

Total non-operating income

24,40728,473356

283

Non-operating expenses
Interest expenses
Information security expenses
Other
Total non-operating expenses

4,144

–

40

48

4,541

331

Ordinary profit

3,339,849

3,033,362

Profit before income taxes

3,339,849

3,033,362

Income taxes-current

703,226

487,569

Income taxes-deferred

323,093439,755

Total income taxes

1,026,320

927,325

Profit2,313,529

2,106,037

(995)

311

2,314,524

2,105,725

Profit (loss) attributable to non-controlling interests
Profit attributable to owners of parent

7

QUICK CO., LTD. (4318) Financial Results for the First Quarter of FY3/24

Quarterly Consolidated Statement of Comprehensive Income(For the Three-month Period)First three months of FY3/23(Apr. 1, 2022–Jun. 30, 2022)(Thousands of yen)First three months of FY3/24(Apr. 1, 2023–Jun. 30, 2023)

Profit2,313,529

2,106,037

Other comprehensive income
Valuation difference on available-for-sale securities(298,227)

201,550

Foreign currency translation adjustment

18,8225,505(279,404)

207,056

Comprehensive income

2,034,124

2,313,093

Comprehensive income attributable to:
Owners of parent

2,035,261

2,313,110(1,137)(17)

Total other comprehensive income

Non-controlling interests

8

QUICK CO., LTD. (4318) Financial Results for the First Quarter of FY3/24(3) Notes to Quarterly Consolidated Financial Statements
Segment Information
I. First three months of FY3/23 (Apr. 1, 2022–Jun. 30, 2022)
1. Information pertaining to net sales and profit/loss in reportable segments and disaggregated revenue
Reportable Segment
Human
Resources
Services
Business

Recruiting
Business

Information
Publishing
BusinessHR
PlatformBusiness

Overseas
Business(Note 3)

Total

(Thousands of yen)Amount in thequarterly
Adjustment
consolidated(Note 1)statement ofincome(Note 2)

Net sales
Revenue fromcontracts with 6,342,446
763,283
549,009612,779
284,278
8,551,797–
8,551,797
customers
Other revenue
–
–
–
–
–
–
–
–
Sales toexternal
6,342,446
763,283
549,009612,779
284,278
8,551,797–
8,551,797
customers
Inter-segment
sales and
300
3,806
2,747
22,705–29,560(29,560)–transfers
6,342,747
767,089
551,757
635,485
284,278
8,581,357
8,551,797
Total(29,560)
Segment profit 2,973,093
171,894
65,145323,942
44,122
3,578,198(258,215)
3,319,983
Notes: 1. The (258,215) thousand yen adjustment to segment profit includes elimination for inter-segment transactions of
36,023 thousand yen, and (294,239) thousand yen in company-wide costs that cannot be allocated to any specificreportable segments. Company-wide costs consist primarily of expenses related to the administration division which
are not attributable to any reportable segments, including general affairs and accounting at the Company.
2. Segment profit is adjusted with operating profit shown on the quarterly consol idated statement of income.
3. Countries and regions included in the Overseas Business are Japan, U.S. China, Mexico, U.K., Vietnam , andThailand.

2. Information pertaining to impairment losses of non-current assets, goodwill, etc. in reportable segments
Not applicable.

9

QUICK CO., LTD. (4318) Financial Results for the First Quarter of FY3/24

II. First three months of FY3/24 (Apr. 1, 2023–Jun. 30, 2023)
1. Information pertaining to net sales and profit/loss in reportable segments and disaggregated revenue(Thousands of yen)Amount in thequarterly
Adjustment
consolidated(Note 1)statement ofincome(Note 2)

Reportable Segment
Human
Resources
Services
Business
Net sales
Revenue fromcontracts withcustomers
Other revenue
Sales toexternalcustomers
Inter-segment
sales andtransfers
Total

Information
Overseas
Recruiting
HR Platform
Publishing
Business
Business
Business
Business(Note 3)

Total

6,854,717

749,611643,805

378,920

356,751

8,983,806–

8,983,806

–

–

–

–

–

–

–

–

6,854,717

749,611643,805

378,920

356,751

8,983,806–

8,983,806

2,277

3,870

4,493

1,866

1,141

13,649(13,649)–

6,856,994

753,481648,298

380,786

357,893

8,997,455(13,649)

8,983,806

Segment profit 2,918,638
75,147
114,680
203,072
46,965 3,358,505(353,284)
3,005,220
Notes: 1. The (353,284) thousand yen adjustment to segment profit includes elimination for inter-segment transactions of
49,151 thousand yen, and (402,436) thousand yen in company-wide costs that cannot be allocated to any specificreportable segments. Company-wide costs consist primarily of expenses related to the administration division which
are not attributable to any reportable segments, including general affairs and accounting at the Company.
2. Segment profit is adjusted with operating profit shown on the quarterly consolidated statement of income.
3. Countries and regions included in the Overseas Business are U.S., China, Mexico, U.K., Vietnam , and Thailand.

2. Information pertaining to impairment losses of non-current assets, goodwill, etc. in reportable segments
Not applicable.
3. Information on changes, etc. in reportable segments(Changes in the names of reportable segments)
Effective from the first quarter of the fiscal year ending March 31, 2024, the name of the reportable segmentthat was previously referred to as the IT and Internet-Related Business has been changed to the HR Platform
Business in order to more accurately represent the nature of the business.
This change is merely a change in segment name and has no impact on segment information. Th e segment
information for the same period a year ago is also presented under the new name.

10