SINGAPORE, NNA - Japanese staffing firm Fullcast Holdings Co. will establish a joint venture in Tokyo with an industry peer, Advancer Global Ltd. of Singapore, to bring in foreign workers by taking advantage of Japan’s new immigration regulation that benefits skilled professionals.
The joint venture, Fullcast International, will be set up in late August with a capital of 80 million yen ($753,500) with 51 percent by Fullcast and 49 percent by Advancer Nation Pte. Ltd., a sub-subsidiary of Advancer Global, the Tokyo company said in a statement. The new firm aims to start operation before yearend after obtaining a license for labor dispatch services.
Faced with a persistent workforce shortage, the Japanese government eased its immigration system in April this year to welcome foreign workers with so-called “specified skills.” The new system is expected to “further increase the number of foreign workers in Japan,” the statement said.
Under the new scheme, those with “at least knowledge and skills” in wide-ranging sectors are entitled to five-year renewable visas. Highly skilled and experienced professionals in such industries as aviation and construction can renew their visas without limitation and bring their family members to Japan.
Fullcast has a 26 percent stake in Advancer Global, which has a solid track record in staffing skilled workers in Southeast Asia through its services in Singapore. Fullcast started staffing services in October 2018 to target mainly foreigners living in Japan, including exchange students and permanent residents.
With the start of the joint venture, Fullcast aims to expand its staffing services drawing on the know-how of Advancer Global and utilizing the new immigration system, even though Japanese companies are generally seen likely to be slow to accept many foreign workers.
“Through its services in Singapore, Advancer has been recruiting talent mainly from the Philippines, Vietnam, Indonesia, and others,” a Fullcast spokesman told NNA. “The new company initially aims to place foreigners with so-called ‘specified skills’ from these countries with Japanese client companies.”