Japanese staffing firm JAC Recruitment (2124: TYO) reported revenue for the nine months ended 30 September 2022 of JPY 22.92 billion (USD 164.0 million), an increase of 23.4% compared to last year.

“In the Domestic Recruitment Business, with favourable market conditions and a steady increase in the number of our consultants, net sales reached record levels again for the nine months ended 30 September 2022,” the company stated. “In the coming fourth quarter of the current fiscal year, we will continue to promote the proactive strengthening of businesses in the robust market.”

“Regarding the Overseas Business, despite China being still affected by the prolonged “zero-Covid policy,” an earnings recovery is underway in the regions including Europe, Singapore, and Malaysia,” the group stated. “The company maintained a steady profit for the nine months ended September 30, 2022, following the first six months ended 30 June 2022.”

By segment, the Domestic Recruitment Business, the Domestic Job Offer Advertising Business, and the Overseas Business increased by 21.0%, 57.6%, and 44.1% year on year, respectively.

JAC Recruitment provides recruitment services to local enterprises and multinationals in Japan, the United Kingdom, and the rest of Asia.

Looking ahead the company forecasted revenue of JPY 30.43 billion (USD 217.52 million) for the full year ended 31 December 2022.

JAC Recruitment set a new 52-week high during today's trading session when it reached JPY 2,573.00 (USD 18.39). Over this period, the share price is up 7.24%. The company has a market cap of JPY 103.80 billion (USD 741.98 million.)