Summary of Consolidated Financial Results for the First Quarterof the Fiscal Year Ending March 31, 2023
(Three Months Ended June 30, 2022)[Japanese GAAP]
July 29, 2022

Company name: QUICK CO., LTD.
Listing: First Section, Tokyo Stock Exchange
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 Report:
August 10, 2022
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, 2023
(April 1, 2022 – June 30, 2022)(1) Consolidated results of operations(Percentages represent year-on-year changes.)
Net sales

Operating profit

Profit attributableto owners of parent

Ordinary profit

Millions of yen% Millions of yen% Millions of yen% Millions of yen
8,551 21.2
3,319
34.4
3,339
34.2
2,314
Three months ended Jun. 30, 2022
7,053 14.2
2,470
28.3
2,488
28.7
1,758
Three months ended Jun. 30, 2021
Note: Comprehensive income (millions of yen) Three months ended Jun. 30, 2022: 2,034 (up 13.2%)
Three months ended Jun. 30, 2021: 1,797 (up 16.0%)
Net income per share
Diluted net income per share

Three months ended Jun. 30, 2022
Three months ended Jun. 30, 2021

Yen

Yen

122.87
93.36

-

%

31.6
27.5

(2) Consolidated financial position
Total assets

Net assets

Millions of yen

Millions of yen

Shareholders’ equity ratio Net assets per share%

As of Jun. 30, 2022
17,98013,604As of Mar. 31, 2022
18,002
12,098Reference: Shareholders’ equity (millions of yen)
As of Jun. 30, 2022: 13,604

Yen

75.7
67.2
As of Mar. 31, 2022: 12,097

722.20642.21

2. Dividends
1Q-end2Q-endYen

Fiscal year ended Mar. 31, 2022
Fiscal year ending Mar. 31, 2023
Fiscal year ending Mar. 31, 2023 (forecast)
Note: Revisions to the most recently announced dividend forecast: None

Dividend per share
3Q-endYear-end

Total

Yen

Yen

Yen

Yen

20.00

-

28.00

48.00

26.00

-

27.00

53.00

3. Consolidated Earnings Forecast for the Fiscal Year Ending March 31, 2023 (April 1, 2022 – March 31, 2023)
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

3,116
17.3
3,130
16.6
First half
13,674 12.1
Full year
25,600
3,679
10.0
3,700
8.1
8.5
Note: Revisions to the most recently announced consolidated earnings forecast: None%

Millions of yen%

Millions of yen

2,163
2,465

14.5
9.6

114.84130.86

* 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: Yes
2) Changes in accounting policies other than 1) above: None
3) Changes in accounting-based estimates: None
4) Restatements: None

(4) Number of shares outstanding (common shares)
1) Number of shares outstanding at the end of the period (including treasury shares)
As of Jun. 30, 2022:

19,098,576 shares

As of Mar. 31, 2022:

19,098,576 shares

As of Mar. 31, 2022:

261,301 shares

2) Number of treasury shares at the end of the period
As of Jun. 30, 2022:

261,301 shares

3) Average number of shares outstanding during the period
Three months ended Jun. 30, 2022: 18,837,275 shares

Three months ended Jun. 30, 2021: 18,837,341 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 referto page 3 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 FY3/23

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, 2023, with COVID-19-related restrictions being
eased, economic activities and consumer spending were slowly returning to normal in Japan. However, theeconomic outlook remains uncertain on the back of the yen's sharp depreciation, higher commodity prices partly
due to surging raw material and energy costs driven by the prolonged Ukraine crisis, and concern over the
repeated resurgence of COVID-19.
Meanwhile, in Japan’s labor market, the seasonally adjusted job openings-to-applicants ratio was 1.24 and theseasonally adjusted unemployment rate was 2.6% in May 2022, showing a moderate recovery trend.
Under such business environment, the Group worked on differentiating the QUICK Group from competitors andincreasing customer satisfaction by helping our client companies to solve their HR related problems by expanding
operations in new strategic market sectors and strengthening coordination between the group companies.
Furthermore, the Group strengthened the business base by restructuring the organizational structure in order toimprove the productivity.
As a result, we achieved sales and earnings growth, both reaching all-time highs. Net sales increased 21.2%
year-on-year to 8,551 million yen, operating profit increased 34.4% year-on-year to 3,319 million yen, ordinary
profit increased 34.2% year-on-year to 3,339 million yen, and profit attributable to owners of parent increased
31.6% year-on-year to 2,314 million yen.
From the first quarter of the fiscal year ending March 31, 2023, Quick Care Jobs Co., Ltd. established in
December 2021 has been included in the scope of consolidation as one of the Human Resources Service Business.
Performance of the business segments is described as follows.
(Human Resources Services Business)
1) Personnel Placement
In the personnel placement category, corporate recruiting needs was robust in our focus fields such as theconstruction, electrical equipment, machinery, automobile and pharmaceutical industries. In addition, recruitingneeds for nurses remained high in medical institutions and nursing-care facilities. Given this businessenvironment, the personnel placement business for specific fields targeting construction and pharmaceutical
related categories, various types of engineers as well as nurses placement recorded a large revenue growth. Those
were the major results of our efforts including enhancing promotional activities, having more meetings with ourclient companies and registrants who wish to change careers, and providing an extensive support. Furthermore,
we opened a website “Hoitomo Nagoya” dedicate to childcare professionals requiring information on recruitment
and career change for reinforcing the childcare worker category in the Nagoya area.
2) Temporary Staffing, Temporary-to-Permanent Staffing, and Business Contracting
In the temporary staffing, temporary-to-permanent staffing and business contracting categories, in addition tolasting strong hiring needs for nurses at medical and welfare sectors, the needs for COVID-19-related staff
contributed to the steady performance of temporary staffing of nurses. Meanwhile, robust demand for the
temporary staffing of childcare workers expanded the performance.
Overall, sales of the Human Resources Service Business increased 19.6% year-on-year to 6,342 million yen andoperating profit also increased 25.0% year-on-year to 2,973 million yen.
(Recruiting Business)
In the Recruiting Business, since the full lifting of the quasi-state of emergency in March 2022, corporate
recruiting needs expanded in a wide range of sectors including restaurant, selling and service. This was partly due
to a relatively subdued spread of COVID-19 and seasonal factors, such as the fact that student part-time workers
tend to quit their jobs around the end of the Japanese academic year. In the mid-career hiring category, our focus“Indeed” business as well as recruiting advertisements for part-time workers posted a robust growth in revenue
while the volume of recruiting advertisement for full-time employees and temporary workers expanded steadily
1

QUICK CO., LTD. (4318) Financial Results for the First Quarter of FY3/23

as well.
On the other hand, the performance of the new college graduate category remained roughly on par, but thepositive performance was recorded in terms of the volume of advertisements in our internship websites for March2024 new college graduates.
In addition, services other than the handling of recruiting advertisement also grew steadily. This was mainly due
to the contribution from a consultation on new graduate and mid-career recruiting strategy, internship programs
development and recruitment/corporate website creation.
Overall, sales of the Recruiting Business increased 36.2% year-on-year to 763 million yen and operating profit
increased 223.7% year-on-year to 171 million yen.
(Information Publishing Business)
In the Information Publishing Business, the volume of recruiting advertisements in lifestyle information
magazines increased in all the service areas while advertisement placements for sales promotion targeting
restaurants and events and so on also picked up in Kanazawa and Niigata. However, the handling of
housing-related ads remained stagnant in Kanazawa and Toyama. As a result, the lifestyle information magazine
category as a whole performed almost flat.
Meanwhile, posting services including flyers distributed to households with lifestyle information magazines
benefitted from strong handling of housing-related flyers in Toyama and Takaoka. Hence, the services grewsolidly.
Furthermore, the concierge services we operate under the “cococolor” brand continued to perform well as the
career change domain grew substantially on the back of strong recruiting needs in manufacturing,
pharmaceutical-related and other fields. Additionally, this business category showed a healthy performance in thevolume of “Indeed,” the production of a website for client companies and others. On the other hand, costs
increased as we hired more talents to ramp up sales efforts, and to boost promotional activities.
Overall, sales of the Information Publishing Business increased 6.0% year-on-year to 549 million yen andoperating profit decreased 3.9% to 65 million yen.
(IT and Internet-Related Business)
In the IT & Internet-Related Business category, “Nihon no Jinjibu” (Japan’s Human Resources Department)
related service continued to enjoy strong demand for better business efficiency, labor saving, IT introduction toresolve issues in the HR domain, and services for improving motivation and retention of employees. Additionally,as the number of new COVID-19 cases shows declining trend, suppressed sales promotion needs started torecover for recruitment and training services. As a result, we achieved a substantial increase in advertising
revenues from “Nihon no Jinjibu”—our portal website for personnel and labor relations. Furthermore, the online
HR related event, “Nihon no Jinjibu HR Conference 2022-Spring-” held in May 2022 grew in revenue, which
contributed to a significant renewal of record high performance of “Nihon no Jinjibu” related services in the firstquarter of the fiscal year under review.
As for the system development category, the operating performance remained strong as we successfully
reinforced sales activities targeting both new and existing clients, achieved early orders for development projects
and secured engineers amid a recovery in corporate system investment. Meanwhile, the performance of thelearning field almost leveled off due to steady orders for spring group trainings for new employees.
Overall, sales of the IT and Internet-Related Business increased 33.1% year-on-year to 612 million yen andoperating profit also increased 74.9% year-on-year to 323 million yen.
(Overseas Business)
In North and Central America, as progress in vaccination was easing pandemic-related restrictions and returning
economic activities to normalcy in the U.S., hiring sentiment was stimulated in a wide range of sectors, boosting
the performance of the personnel placement and temporary staffing businesses. Meanwhile, we opened an officein Dallas, Texas, in January 2022 as the third operation base in the U.S. However, the Mexico business posted a2

QUICK CO., LTD. (4318) Financial Results for the First Quarter of FY3/23

revenue decrease as the spreading Omicron variant forced local companies to slow down recruiting activities, andthe number of job applicants showed little growth.
In Asia, full and partial lockdown measures were taken in Shanghai since March 2022 as a part of thezero-COVID policy to stamp out an Omicron-fueled wave. As a result, corporate recruiting activities were
subdued and job seekers were losing motivation to change jobs, limiting our services and sales activities related
to visa application services and education/training. Accordingly, revenue declined in both the personnel
placement and personnel and labor consulting businesses. In Vietnam, with the gradual lifting of restrictions
under a “living with COVID” policy, we focused on responding to hiring needs of foreign companies new to the
local market in addition to those of companies in robust industries such as IT and construction. Therefore, theplacement of Japanese and Vietnamese staff performed well. In Thailand, as the pandemic-induced restrictions
were lifted step by step, a recovering economy improved corporate recruiting needs. However, our intense sales
efforts were not able to compensate for negative factors, such as the fact that the start date of employment, oursales recognition date, delayed to the second quarter, resulting in revenue decline.
In the U.K., economic activities were vibrant and corporate recruiting demand remained brisk under a policy tolive with COVID. With more job openings than job seekers, the personnel placement services as well as
temporary staffing services performed well.
The Company’s Global Business Division also give sales supports to these overseas companies and worked on
promoting the international career change supports (Cross Border Recruitment® services) and supporting otheractivities to attract more local registrants who want to change careers.
Overall, sales of the Other Businesses increased 35.4% year-on-year to 284 million yen and operating profit
increased 689.7% year-on-year to 44 million yen.
(2) Explanation of Financial Position
Total assets at the end of the first quarter of the fiscal year under review were 17,980 million yen, which was 21
million yen less than at the end of the previous fiscal year. This was mainly the result of a decrease in investment
securities despite an increase in cash and deposits.
Total liabilities were 4,376 million yen, which was 1,527 million yen less than at the end of the previous fiscal
year. This was mainly the result of decreases in provision for bonuses and income taxes payable.
Total net assets were 13,604 million yen, which was 1,506 million yen more than at the end of the previous fiscal
year. This was mainly the result of an increase in retained earnings due to the booking of profit attributable toowners of parent. The shareholders’ equity ratio improved 8.5 percentage points from the end of the previous
fiscal year to 75.7%.
(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, 2023, which were announced in the “Summary of Consolidated Financial Results for the
Fiscal Year Ended March 31, 2022 (Japanese GAAP)” on April 28, 2022.
An announcement will be made promptly if the review of impact on the QUICK Group’s business performancerequires a revision to this forecast.

3

QUICK CO., LTD. (4318) Financial Results for the First Quarter of FY3/23

2. Quarterly Consolidated Financial Statements and Notes(1) Quarterly Consolidated Balance Sheet
FY3/22(As of Mar. 31, 2022)(Thousands of yen)First quarter of FY3/23(As of Jun. 30, 2022)

AssetsCurrent assets
Cash and deposits

10,509,984

10,936,651

Notes and accounts receivable-trade

2,349,801

2,391,271

349,105399,366

Other
Allowance for doubtful accounts
Total current assets(2,707)(2,755)

13,206,183

13,724,534

820,299853,852

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

1,971

1,854

Tools, furniture and fixtures, net

123,768

125,411Land

176,789

176,789

5,682

5,042

Leased assets, net
Construction in progress

45,734-

1,174,244

1,162,950

Software851,716

834,006

Software in progress

48,611

84,912

Goodwill

6,074

5,607

Other

10,65910,659Total intangible assets

917,061

935,185

Investment securities

1,726,448

1,298,378

Leasehold deposits

711,400

712,176

Deferred tax assets

163,461

93,889Other

110,875

60,434

Allowance for doubtful accounts(6,926)(6,556)

Total property, plant and equipment
Intangible assets

Investments and other assets

Total investments and other assets
Total non-current assets
Total assets

42,705,259

2,158,322

4,796,566

4,256,458

18,002,749

17,980,993

QUICK CO., LTD. (4318) Financial Results for the First Quarter of FY3/23(Thousands of yen)First quarter of FY3/23(As of Jun. 30, 2022)

FY3/22(As of Mar. 31, 2022)
Liabilities
Current liabilities
520,197463,209

Short-term borrowings

141,002

133,000

Accounts payable-other

1,237,670

937,589

Accounts payable-trade

Accrued expenses
Income taxes payable

674,565

677,865

1,038,195

695,692

489,968

623,976

Provision for bonuses
Provision for bonuses for directors (and otherofficers)
Other1,071,547

146,932

73,330-485,335

404,303

Total current liabilities

5,731,811

4,082,569

Deferred tax liabilities

61,565

182,970

Asset retirement obligations

105,275

105,653

5,713

5,411

Accrued consumption taxes

Non-current liabilities

Other

172,554

294,035

5,904,366

4,376,604

Share capital

351,317351,317

Capital surplus

391,392
10,261,028

391,392
12,047,202

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

Retained earnings
Treasury shares
Total shareholders’ equity(16,171)(16,171)

10,987,566

12,773,740

1,084,720

786,493

25,147

44,111

1,109,867

830,604

Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets

5

949

43

12,098,383

13,604,388

18,002,749

17,980,993

QUICK CO., LTD. (4318) Financial Results for the First Quarter of FY3/23(2) Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statement of Income(For the Three-month Period)First three months of FY3/22(Apr. 1, 2021 – Jun. 30, 2021)
7,053,692(Thousands of yen)First three months of FY3/23(Apr. 1, 2022 – Jun. 30, 2022)
8,551,797

Cost of sales

1,929,924

2,261,614

Gross profit

5,123,767

6,290,182

Selling, general and administrative expenses

2,652,971

2,970,198

Operating profit

2,470,796

3,319,983

Dividend income

344
4,126

409
4,274

Foreign exchange gains

2,429

11,114

Net sales

Non-operating income
Interest income

Other

11,271

8,608

Total non-operating income

18,171

24,407

Non-operating expenses
Interest expenses
Information security expenses

558

356

-

4,144

Other

22

40

Total non-operating expenses

581

4,541

2,488,385

3,339,849

782-

Ordinary profit
Extraordinary losses
Loss on retirement of non-current assets
Total extraordinary losses

782-

2,487,603

3,339,849

Income taxes-current

579,008

703,226

Income taxes-deferred

150,551

323,093

Total income taxes

729,559

1,026,320

1,758,044

2,313,529

Profit before income taxes

ProfitLoss attributable to non-controlling interests
Profit attributable to owners of parent

6

(628)

(995)

1,758,672

2,314,524

QUICK CO., LTD. (4318) Financial Results for the First Quarter of FY3/23

Quarterly Consolidated Statement of Comprehensive Income(For the Three-month Period)

ProfitFirst three months of FY3/22(Apr. 1, 2021 – Jun. 30, 2021)
1,758,044

Other comprehensive income
Valuation difference on available-for-sale securities

14,767(Thousands of yen)First three months of FY3/23(Apr. 1, 2022 – Jun. 30, 2022)
2,313,529

Foreign currency translation adjustment

24,599(298,227)
18,822

Total other comprehensive income

39,366(279,404)

1,797,411

2,034,124

1,797,611

2,035,261(199)(1,137)

Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests

7

QUICK CO., LTD. (4318) Financial Results for the First Quarter of FY3/23(3) Notes to Quarterly Consolidated Financial Statements
Segment Information
I. First three months of FY3/22 (Apr. 1, 2021 – Jun. 30, 2021)
1. Information pertaining to net sales and profit/loss in reportable segments and disaggregated revenue(Thousands of yen)
Reportable Segment
Amount in thequarterly
Human
IT &
Adjustment
Information
Overseas
consolidated
Resources Recruiting
Internet(Note 1)
Publishing
Business
Total
statement of income
Services
Business
RelatedBusiness(Note 3)(Note 2)Business
Business
Net sales
Revenue fromcontracts with 5,304,943
560,320
518,045
460,483
209,898 7,053,692
7,053,692
customers
Other revenue
Sales toexternal
5,304,943
560,320
518,045
460,483
209,898 7,053,692
7,053,692
customers
Inter-segment
sales and
3,135
1,251
25,392
29,778(29,778)transfers
5,304,943
563,456
519,296
485,876
209,898 7,083,471
7,053,692
Total(29,778)
Segment profit 2,377,995
53,10167,802
185,215
5,587 2,689,702 (218,906)
2,470,796
Notes: 1. The (218,906) thousand yen adjustment to segment profit includes elimination for inter-segment transactions of
31,645 thousand yen, and (250,552) 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 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.
II. 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(Thousands of yen)
Reportable Segment
Amount in thequarterly
Human
IT &
Adjustment
Information
Overseas
consolidated
Resources Recruiting
Internet(Note 1)
Publishing
Business
Total
statement of income
Services
Business
RelatedBusiness(Note 3)(Note 2)Business
Business
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
22,70529,560(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 consolidated 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.
This summary report is solely a translation of “Kessan Tanshin” (in Japanese, including attachments), which has been
prepared in accordance with accounting principles and practices generally accepted in Japan, for the convenience of readers
who prefer an English translation.
8