Human Holdings Co. Ltd. (2415:JP), a provider of human resource and employment services in Japan upgraded its revenue and profits forecast for the first six months to 30 September 2020.

The revenue forecast was revised to JPY 42.00 billion (USD 405.0 million), up from the previously announced JPY 41.78 billion (USD 402.9 million).

Operating income forecast was also upgraded to JPY 1.23 billion from the previously announced JPY 726 million. Net income was also upgraded to JPY 751 million (USD 7.2 million) from the previously announced JPY 293 million (USD 2.8 million).

The group said its revenue in the human resources-related business, including temporary staffing, is expected to exceed expectations due to the increase in business sales and the receipt of orders for administrative subsidy-related business contracts.

Regarding profits, in addition to increasing sales in the human resources-related business, each group company made efforts to reduce costs. As a result, profits are expected to exceed expectations.

According to SIA’s Largest Staffing Firms in Japan report, Human Holdings was the 13th largest staffing firm in Japan based on revenue.

Shares in Human Holdings closed at JPY 691.00 (USD 6.66) on Friday, up 0.43% on the day. The company has a market cap of JPY 8.69 billion (USD 83.80 million).