Japanese staffing firm and job board Dip Corp. (2379: JP) reported revenue today for the fourth quarter ended 28 February 2023 of JPY 12.64 billion (USD 95.2 million), an increase of 16.4% compared to the same period the prior year.

The company applied a new revenue recognition standard from the Fiscal Year 2023. Revenue for Q4 2022 was restated below under the new standard.

Dip Corp said it saw high growth in the Digital Transformation (DX) business and steady sales expansion in personnel recruiting services business.

The group also posted full year revenue of JPY 49.35 billion, up 24.9% over the year. Revenue in personnel recruiting increased by 21.5% over the year while the DX business reported a revenue increase of 68.9% over the year.

Looking ahead the group forecasted revenue of JPY 56.30 billion (USD 424.33 million) for the year ended 29 February 2024.

On Friday, Dip Corp shares closed at JPY 3,600.00 (USD 27.13), up 4.35% on the day and 9.59% above its 52-week low of JPY 3,285.00 (USD 24.76), set on 20 March 2023. The company has a market cap of JPY 207.48 billion (USD 1.56 billion).