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Japan – Revenue plan is JPY 600 billion long term, technical staffing firm UT Group cites growth in temps

15 December 2021

UT Group Co. Ltd. (2146:TYO), a Tokyo-based provider of engineering and technical staffing, announced an update on growth Monday, reporting that it has more than 30,000 contingent employees as of 30 November. It noted demand had been rising since the latter half of 2020. The company’s long-term plan for 2030 is to have revenue of JPY 600 billion (USD 5.28 billion) and JPY 100 billion (USD 880.6 million) in EBITDA.

Right now, the company is hiring more than 1,000 mid-career people per month. UT Group plans to have 34,000 temporary workers by the end of its fiscal year in March.

UT Group had earlier announced on 16 November that it had more than 30,000 technical employees as of 31 October. However, it issued an apology and correction as the number of technical employees had not reached that number by the end of October.

Shares in UT Group on Tuesday closed at JPY 4,265 (USD 37.56), down 7.28% from its 52-week high, according to FT.com. The company had a market cap of JPY 172.75 billion (USD 1.52 billion).