Singapore Services

Japanese staffing agency Copro to launch Singapore unit to send Southeast Asian workers to home

18, Jan. 2020

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SINGAPORE, NNA - Japanese staffing agency Copro Holdings Co. will set up a wholly-owned subsidiary in Singapore in April, planning to send construction engineers from Southeast Asian countries to Japan in a bid to tackle labor shortage at home.

Copro Globals Pte. Ltd., its first overseas unit, will be capitalized at 250,000 Singapore dollars ($186,000) in the city-state, Southeast Asia’s business hub, to conduct market research and develop a business model for staffing service.

The Japanese construction industry, one of Copro Holdings' main clients, is facing a labor crunch due to aging and decreasing population, prompting the Japanese staffing service to seek workforce abroad.

Many companies have opened their regional headquarters in Singapore, allowing Copro Holdings to develop relations with them and conduct market research, a spokesman told NNA Thursday.

The Nagoya-based firm expects a 3.9-percent rise in group net profit to 975 million yen in the fiscal year ending in March on a 21.4-percent surge in revenue to 13.137 billion yen.