Japanese staffing firm Career Bank (4834: JP) revised its forecast for the fiscal year ended May 2023. The group’s revenue is forecasted to be JPY 7.96 billion (USD 56.7 million), an upward revision from the previously forecasted revenue of JPY 7.42 billion (USD 52.8 million).

Operating income was also revised upwards to JPY 394 million (USD 2.8 million) from the previous forecast of JPY 343 million (USD 2.4 million).

Meanwhile, forecasted net income was raised to JPY 207 million (USD 1.4 million) from JPY 158 million (USD 1.1 million).

Career Bank said sales are expected to be higher than it had previously forecasted with the growth mainly coming from the temporary staffing related business segment. This was due to the continuation of work related to the Covid-19 vaccination, which saw more activity than expected. Furthermore, the group said the acceptance of a large-scale government-related project also contributed to the raised forecast.

Earlier this year Career Bank (4834: JP) reported revenue for the nine months ended 28 February 2023 of JPY 6.07 billion (USD 45.6 million), an increase of 6.7% compared to last year.

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