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Listed Japanese staffing giant Pasona Group has announced a joint venture with Toyota Tsusho Corp which will see the launch of a staffing agency in Thailand. The recruiter is one of the key market players in Japan and recently came 11th in Staffing Industry Analysts global ranking of staffing firms.
Pasona is to offer job placement services in Thailand for Japanese firms via the joint venture, which is set to be up and running this month. Pasona will hold a 49% stake in the venture and the Thai division of Toyota will hold 26%. The remaining stake will be held by a number of Japanese finance bodies, Nikkei Digital Media reports.
The joint venture is expected to place thousands of technical jobs in the coming three years, also offering training programmes to workers. It will benefit from rising demand for Japanese speakers in the region as more Japan-based companies are expanding in the area.
“The new agency will initially help Toyota Motor Corp. (7203) and others find Thai engineers and office personnel for their local subsidiaries. For small and midsize parts makers that are expanding into the Southeast Asian country following Toyota's lead, the firm will provide advice on human resources strategies, in addition to job placement services,” Nikkei writes.
Pasona used to be the market leader in Japan but has been overtaken by rival companies Recruit Holdings and Tempstaff, which are now the two largest staffing firms in the country. The company still occupies a prominent position in the market with staffing sales of €1.58 billion last year and a market share of 4%, according to research by Staffing Industry Analysts.