Investing through a share fight
dip Corporation (TSE: 2379), the Tokyo-based operator of the Baitoru part-time job site and other recruitment services, reported consolidated results for the first half of FY2/2027, the six months from March 1 to August 31, 2026, on October 13, 2026 under Japanese GAAP. Net sales fell 11.4% to ¥25,550 million, operating profit 99.0% to ¥56 million and ordinary profit to ¥3 million from ¥5,397 million. It posted a net loss attributable to owners of the parent of ¥578 million, or ¥11.06 per share, against a profit of ¥3,715 million a year earlier.
The company said competition for job-seekers intensified, and it strengthened advertising for its existing services from May while hiring 2026 graduates and expanding offices to bolster its sales force. It reports early signs of improvement, with applications rising and the number of client companies returning to growth, but says lower contract prices and slower agency sales mean sales are recovering more slowly than it had assumed.
Segments
The human resources services segment, which runs Baitoru, Spot Baitoru, Baitoru NEXT, Hatarako-net, Baitoru PRO and nurse and care-worker placement services, saw sales fall 12.5% to ¥22,268 million and segment profit 60.7% to ¥3,330 million. The DX segment, which sells the Kobot software for small and mid-sized companies, saw sales slip 3.8% to ¥3,281 million and profit fall 17.2% to ¥1,632 million; its map-search marketing tool grew, but tools tied to its media services declined as client numbers fell.
Balance sheet, dividend and outlook
Total assets fell 9.2% to ¥45,379 million, mainly as cash fell ¥3,878 million, and net assets fell 9.2% to ¥33,776 million, for an equity ratio of 74.3%. The interim dividend is ¥48 and the company still plans an annual ¥97, against ¥95.
Because it will keep investing heavily in advertising to regain share, dip cut its full-year forecast from net sales of ¥53,500-57,600 million and operating profit of ¥5,000-10,000 million to net sales of ¥49,000-53,000 million (−10.7% to −3.4%), operating profit of minus ¥2,500 million to ¥2,500 million and a net result ranging from a ¥2,700 million loss to a ¥700 million profit. It aims to return sales and profit to growth next year.
| Metric | H1 FY2/2027 | H1 FY2/2026 | Change |
|---|---|---|---|
| Net sales (¥ million) | 25,550 | 28,850 | −11.4% |
| Operating profit (¥ million) | 56 | 5,441 | −99.0% |
| Ordinary profit (¥ million) | 3 | 5,397 | −99.9% |
| Net profit attrib. to owners of parent (¥ million) | −578 | 3,715 | profit to loss |
| EPS (¥) | −11.06 | 71.01 | profit to loss |
| Human resources services — revenue (¥ million) | 22,268 | 25,440 | −12.5% |
| Human resources services — segment profit (¥ million) | 3,330 | 8,480 | −60.7% |
| DX — revenue (¥ million) | 3,281 | 3,410 | −3.8% |
| DX — segment profit (¥ million) | 1,632 | 1,972 | −17.2% |
| Total assets (¥ million) | 45,379 | 49,954 | −9.2% |
| Net assets (¥ million) | 33,776 | 37,193 | −9.2% |
| Equity ratio | 74.3% | 73.7% | +0.6 pt |
| Annual dividend per share (¥) | 97.00 | 95.00 | +2.1% |
JapanStockPulse provides informational content only and does not constitute investment advice. Figures are taken from the company's published earnings short report and may be subject to subsequent revision.