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Japan-Update

Job search operator DIP seen beating profit guidance

Japan's labor shortage lifts ad demand for part-time, temporary jobs

TOKYO -- Japanese staffing website operator DIP likely will log a 26% increase in nonconsolidated operating profit to 9 billion yen ($81.2 million) for the year ended in February, achieving a fourth straight annual record.

The Tokyo-based company apparently beat its profit forecast of 8.8 billion yen. Sales are expected to be in line with projections, rising 23% to 33 billion yen.

Japanese businesses have accelerated efforts to corral scarce labor while the government promotes reforms meant to shorten the long working hours seen at many companies, an increasingly important social issue.

Labor shortages helped boost average monthly job postings on Baitoru, a DIP website for part-time positions, to around 150,000 for the just-ended fiscal year from 97,000 in the previous year. Increases were seen in areas with severe labor scarcity such as dining and clerical work. Job posting sites for temporary staff and permanent hires also did well.

DIP will announce earnings for the fiscal year Wednesday. Continuing tightness in the labor market makes it likely that the company will increase both revenue and profit this fiscal year.

(Nikkei)

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