Japanese staffing firm Pasona Group (2168: JP) revised its forecasted earnings for the full-year ending May 2021.

The group upgraded its forecasted revenue to JPY 334.5 billion (USD 3.02 billion), up from the previously forecasted revenue of JPY 330.0 billion (USD 2.98 billion).

Operating income was also upgraded to JPY 19.9 billion (USD 180.1 million), up from the previously forecasted amount of JPY 17.5 billion (USD 158.3 million). Net income was revised to JPY 6.7 billion (USD 60.6 million) from the previously announced JPY 6.2 billion (USD 56.1 million).

The group said its BPO (business process outsourcing) services continued to expand during the fourth quarter while recovery within the group’s expert services, dispatched labour and career solutions segments was seen which led to the upgrade in earnings forecast.

Pasona also delayed regional revitalisation projects to the next fiscal year as a result of the pandemic which meant less expenses planned during this fiscal year.

The group added it recorded an impairment loss during the fourth quarter.

In April 2021, Pasona Group (2168: JP), reported revenue for the nine months ended 28 February 2021 of JPY 244.6 billion (USD 2.23 billion), an increase of 2.2% compared with last year.

Pasona Group shares closed today at JPY 2,160.00 (USD 19.55), -8.32% below its 52-week high of 2,356.00 (USD 21.32), set on 23 June 2021. The company has a market cap of JPY 90.43 billion (USD 818.20 million).