Japanese staffing firm and job board Dip Corp. (2379: JP) reported revenue today for the fourth quarter ended 28 February 2022 of JPY 11.45 billion (USD 91.3 million), an increase of 43.8% compared to the same period the prior year.

The group also published full year results with revenue up 21.6% to JPY 39.51 billion (USD 315.28 million). Within the Personnel Recruiting segment, revenue was up 21.6% for the full year. Revenue in the Digital Transformation segment was up 172.3% over the year.

Looking ahead the company forecasted revenue between JPY 49.4 billion to JPY 59.3 billion (USD 394.2 million to USD 473.2 million) for the year ended 28 February 2023.

“With regard to the macro environment in FY 2023, we expect the Covid-19 pandemic to begin to abate due to the progress in vaccination, despite the unstable international situation and the resulting uncertainties in the supply and price movements of resources,” the company stated. “Under such circumstances, we expect sales of the personnel recruiting services business to recover to pre-pandemic levels thanks to the upfront, large-scale advertising investments that we made in FY 2022 to increase market share, combined with the recovery in demand.”

“In the DX (Digital Transformation) business, we expect both sales and operating income to continue to grow significantly due to continued efforts to increase sales by the company’s sales representatives, as well as through product quality enhancement and streamlining of marketing and CS (customer success) operations,” the group stated.

Shares in Dip Corp closed at JPY 3,560.00 (USD 28.41), up 2.01% on the day and 29.74% above the 52 week low of JPY 2,744.00 (USD 21.90) set on 18 May 2021. The company has market cap of JPY 209.89 billion (USD 1.67 billion).