Nisso Corporation (6569: TYO), a Japanese human resources firm providing staffing services, reported revenue today of JPY 56.97 billion (USD 495.0 million) for the first nine months ended 31 December 2021, an increase of 13% compared to the same period last year.

Nisso operates in two segments: its human resources and other business. The integrated talent service business operates a manufacturing talent service, such as manufacturing dispatching and manufacturing contracting, as well as administrative talent service, such as general office dispatching and Business Process Outsourcing (BPO). The Other business operates nursing care and welfare projects, such as facility nursing care and home care.

Revenue increased due to increases in enrollment and unit-costs. Engineer net sales increased steadily due to the increase in the number of enrolled engineers. In the automobiles-related industry, revenue increased by 16.5%.

Revenue in the General Human Resources Services Business segment was up by 13.5% over the previous year period. The Nursing care and welfare business was up by 0.9%.

Operating profit decreased due to a decline in gross profit margin and an increase in SG&A expenses.

Earlier this year Nisso Corporation announced that it will establish a joint venture with Tsunagu Holdings, Japan-based company offering recruitment related services.

Looking ahead, the company’s forecasted revenue is JPY 78.00 billion (USD 677.55 million) for the year ended March 2022. The group said its domestic and overseas demand is recovering, mainly from automobiles manufacturers, and operations increases.

Shares in Nisso Corp closed at JPY 778.00 (USD 6.76), down 0.13% on the day and 16.29% above the 52 week low of JPY 669.00 (USD 5.81) set on 7 October 2021. The company has a market cap of JPY 26.74 billion (USD 232.3 million).