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Gig Works Research Memo (10): Contributing to ESG through Promoting Workstyle Reform.
Gig Works <2375> has declared the ESG (Environment, Social, Governance) philosophy since its founding, and has practiced it through its main business and CSR activities. The following are examples:
GigWorks Research Memo (9): The monetization of "Snap to Earn" SNPIT has begun.
■ Growth Strategies and Topics 1. Snap to Earn (SNPIT) monetization has started. Its unique token has been listed on a cryptocurrency exchange. GigWorks <2375> aims to create a society where everyone's labor is fairly evaluated. In order to achieve a fair evaluation, a transparent and fair labor market and platform/workplace are needed, and the company is promoting these through its four businesses. Mid-term (2023-2025)
Gig Works Research Memo (7): The equity ratio is 34.8% (+2.3 points). Maintaining a sound financial foundation.
Performance trend of Gig Works <2375> 2. Financial condition and management indicators. Total assets at the end of the second quarter of the fiscal year ending October 2024 increased by 92 million yen compared to the previous period to 928.6 million yen. Of this, current assets increased by 166 million yen to 639.1 million yen. The main reason is the increase in bills receivable, accounts receivable, and contract assets. Fixed assets decreased by 80 million yen to 2,887 million yen due to the decrease in tangible fixed assets by 97 million yen, among other reasons. Cash and deposits for the period.
GigWorks Research Memo (6): Although revenues are decreasing, there is a trend towards recovering profitability for the October 2023 fiscal year.
Performance Trends 1. Gig Works <2375> consolidated performance for the second quarter of the fiscal year ending October 2024: revenue decreased by 3.8% YoY to JPY 1,304.1 million, operating profit increased by 564.7% YoY to JPY 184 million, ordinary income increased by 449.7% YoY to JPY 180 million, and net profit attributable to parent company shareholders for the quarter increased by 67.6% YoY to JPY 65 million as planned at the beginning of the period, with a decrease in revenue and increase in profit. In the main on-demand economy business, the number of users has continued to increase.
GigWorks Research Memo (3): The skill sharing market is rapidly growing with the tailwind of work-style reform.
Market and competitive trends for Gig Works <2375>: "Gig economy" refers to a way of working that allows individuals to take on short-term or single-task jobs, establish a sustainable economic activity through the internet, and is now used as a term that blossomed in the US around 2015. Originally, "gig" meant a one-time session performed by a musician as a guest at a live house. The term "gig economy" is used to refer to internet brokerage, dispatching services, and home delivery services.
Gig Works Research Memo (2): Developments in matching short-term work, IT services, mail order, shared offices, etc.
Company Overview: GigWorks <2375> is a growing company with a business model that matches various tasks such as IT equipment support and contact centers to the free time and skills of over 0.1 million registered gig workers. Its strength lies in its ability to respond immediately to high-demand on-demand tasks (such as one-off short-term tasks) from more than 1,000 companies every month, such as PC initial settings, antenna base station installation, recall response, and public opinion surveys.
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