Forum Engineering Inc. (7088:TYO), a Tokyo-based staffing firm focused on mechanical and electrical engineers, reported net sales of JPY 7.72 billion (USD 53.4 million) in its fiscal first quarter, which ran from 1 April to 30 June. Forum Engineering did not provide net sales for the first quarter of its previous fiscal year because its Cognvai India Private Ltd. subsidiary was not included in consolidated results for the year-ago quarter.

Discussing first-quarter net sales for this year, Forum Engineering noted a moderate trend toward recovery in Japan. Business confidence increased at large manufacturers, in particular, which are Forum Engineering’s main customers.

“In this environment, the chronic shortage of human resources is spreading throughout the market, and demand for engineer staffing services, the company’s mainstay business, has recovered to its strong pre-Covid-19 level,” the company wrote in a regulatory filing.

Gross margin was 30.2% in the fiscal first quarter while profit was JPY 439.0 million (USD 3.0 million).

Share price

Shares in Forum Engineering closed down 0.81% to JPY 1,221 (USD) on Wednesday in Japan; they were 6.29% below their 52-week low, according to FT.com.