Tsukui Staff Corporation (7045:TYO), a Japan-based provider of recruitment, temporary employment, education training and other services announced today a revision of its forecast for the second quarter ended 30 September 2020.

Tsukui Staff Corporation launched its IPO and was listed on the Tokyo Stock Exchange in December 2018.

The group upgraded its revenue forecast to JPY 3.95 billion (USD 37.4 million), up from the previously forecasted JPY 3.83 billion (USD 36.2 million).

Forecasted operating income was also upgraded to JPY 75 million (USD 710,500), up from JPY 29 million (USD 274,760) and forecasted net income was upgraded to JPY 31 million (USD 293,700), up from JPY 0.0 million

The group said the impact of refraining from using its main staffing services under the revised Worker Dispatching Act of April 2020 was smaller than expected. Furthermore, travel expenses and transportation expenses will decrease due to activity restrictions amid the pandemic, and cost reductions by reviewing its recruitment plans.

“As a result of promoting cost reduction by reviewing the above, it is expected that the profit at each stage will exceed the initial forecast together with the effect of increasing sales,” Tsukui stated.