UT Group Co. (2146:TYO), a Tokyo-based company that ranks among Japan’s largest staffing firms, on 1 April announced a new job site for temporary workers called Jobpal. The move comes after UT Group on 8 March announced a revision of its consolidated forecast for its fiscal third quarter ended 31 March, saying it plans a major organisational restructuring starting 1 April.  

The forecast for net sales was revised downward 2.2% to JPY 156.50 billion (USD 1.28 billion) from an earlier forecast. Operating profit was revised down 5.0% to JPY 5.70 billion (USD 46.8 million) and profit was revised down 29.4% to JPY 2.4 billion (USD 19.7 million).

UT Group noted persistent shortages of materials and components at automakers as a concern, as the auto industry is one of the company’s main businesses.

Separately, its Jobpal site announced that it is focused mainly on the manufacturing and engineering fields. It plans to acquire approximately 700,000 users and 80,000 job postings per year by 2025.

Share price and market cap

Shares in UT Group closed up 2.90% on Monday to JPY 3,190 (USD 26.00); they were 34.20% above their 52-week low, according to FT.com. The company had a market cap of JPY 125.13 billion (USD 1.02 billion).