Japan-based staffing firm Outsourcing Inc. (2427: JP), the tenth-largest global staffing firm, reported revenue yesterday for the full year ending 31 December 2022 of JPY 689.7 billion (USD 5.18 billion), an increase of 21.2% when compared to the previous year.

Outsourcing Inc. provides outsourcing services in electronics, cars and other areas. It also provides temporary staffing services, known in Japan as worker dispatch.

In January 2022, the company signed an early purchase agreement for the remaining shares of Otto Group in the Netherlands. Outsourcing Inc. first announced that it acquired 56% of shares in the Otto Holding B.V. in 2018.

Outsourcing Inc. in April 2022 announced it was acquiring Sankyo Logi Associate Co. Ltd., a provider of warehouse worker staffing in the Kanto, Tohoku, Kansai and Chugoku areas of Japan. The company also announced that, through its subsidiary American Engineering Corporation, that it would acquire California Pacific Technical Services LLC.

Revenue by segment

Looking ahead the company forecasted revenue of JPY 770.0 billion (USD 5.78 billion) for the year ended 31 December 2023.

Outsourcing shares closed at JPY 991.00 (USD 7.45), no change on the day and 10.11% above the 52-week low of JPY 900.00 (USD 6.76) set on 21 December 2022. The company has a market cap of JPY 123.68 billion (USD 929.54 million).