Q1 2021 TechnoPro Holdings Inc Earnings Call Transcript
[Interpreted] This is Hagiwara, CFO of TechnoPro Holdings. Thank you for your time today.
Since our previous full year earnings announcement, we've had numerous opportunities to talk with investors and received many suggestions that our first half guidance, particularly for second quarter, may be too conservative. The level of this guidance is not in the middle of our forecast range, but rather in the bottom range, which we could achieve for sure. And we have communicated that we will revise our first half guidance, if necessary, based on September renewal rates and first quarter results. And today, we are announcing an upward revision to our first half guidance.
In terms of the current KPIs, the utilization rate has rebounded to 93.9% at the end of September, and the contract renewal rate for September, this is when approximately 70% of the total engineers were up for renewal timing, actually landed at 92.5% compared to our initial assumption of 85%, resulting in roughly the same level as the
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