Nisso Corporation (6569: TYO), a Japanese human resources firm providing staffing services, announced that it has revised its full year forecasts.

The group forecasted revenue for the full year ended 31 March 2021 of JPY 68 billion (USD 653.74 million), an increase from the previously forecasted JPY 67 billion (USD 644.13 million).

Operating profit was also upgraded to JPY 2.40 billion (USD 23.07 million) from the previously forecasted JPY 1.80 billion (USD 17.30 million). Net income was upgraded to JPY 1.70 billion (USD 16.34 million) from the previously forecasted JPY 1.30 billion (USD 12.49 million).

The group said recovery has taken place even earlier than expected in the manufacturing-related human resources services segment, with an improvement in net sales per capita due to a rise in operations of manufacturing staff under the resumption of production activities at client manufacturers.

In the automobiles-related industry, operational adjustments have improved due to the recovery in domestic and overseas demand, and some client manufacturers have started to increase production and the number of staff. Also, in the electronic devices-related industry, IT demand due to changes in 5G and work-styles continued to remain firm, and some client manufacturers in this industry have also started to increase production and the number of staff.

The group added the upgrade was also due to the need for using external human resources recovering even faster than originally planned, and increased enrollment, as well as increased net sales per capita.

According to SIA’s Largest Staffing Firms in Japan report, Nisso Group was the 15th largest staffing firm in Japan based on revenue.