Japanese staffing firm Career Bank (4834: JP) reported revenue today for the full year ended 31 May 2023 of JPY 7.96 billion (USD 57.6 million), an increase of 7.7% compared to last year.

Last week Career Bank raised its full year forecasted revenue and profits amid increased temporary staffing activity.

Career Bank offers temporary staffing services; recruitment; payroll; outplacement; and other services. The “Other” segment includes Career Bank’s language training business in China.

The temporary staffing related business reported a decline of 3.7% over the year due to a decrease of operations related to Covid-19. In its staffing related business in Kanto, the group reported a slight increase of 0.2%. The recruitment business reported an increase of 60.1% while the group’s re-employment support project reported an increase of 0.7%.

The BPO business reported revenue growth of 15.9% while the Japanese language school management business increased by 387.3% year-on-year. The group said this revenue growth was due to the cancellation of the entry restrictions on international students amid the pandemic.

Within the Other business, the group said with the addition of the software and hardware development business, revenue rose by 121.0%.

Looking ahead the company forecasted revenue of JPY 7.56 billion (USD 54.7 million) for the year ended 31 May 2024.

Career Bank shares closed today at JPY 1,650 (USD 11.94), down 1.49% on the day. The company has a market cap of JPY 1.63 billion (USD 11.8 million).