TOKYO -- A strong U.S. job market helped boost Japanese human resources company Recruit Holdings' market capitalization to 10.77 trillion yen ($97.5 billion) on Friday, closing above the 10 trillion yen mark for the first time.

Recruit's market cap ranked 159th among roughly 48,000 companies with comparable QUICK-FactSet data, and sixth among Japanese enterprises, behind only Toyota Motor, Keyence, Sony Group, SoftBank Group, and Nippon Telegraph and Telephone.

The owner of American job-search platform Indeed upgraded its fiscal 2021 earnings forecast Thursday, projecting up to a 90% jump in net profit to 250 billion yen, with "increased competition for talent" in the U.S. expected to continue.

This earnings growth "far exceeds market expectations," said Tetsuro Tsusaka of Morgan Stanley MUFG Securities -- the QUICK Consensus survey of analysts had forecast a 179.7 billion yen profit.  The news lifted Recruit's shares 10% on Friday to 6,350 yen.

Recruit far outpaces other staffing companies in market cap, such as Randstad at $13.5 billion and Adecco at $9.5 billion. Yet how long the economic environment driving this growth will last is unclear. As job seekers find work, whether the pace of growth can be sustained remains to be seen.

The HR technology market, which includes Indeed, "will lose momentum in the second half" of the year through March, predicted Haruka Mori of JPMorgan Securities Japan.

Recruit's growth going forward hinges on a recovery in the domestic marketing business, which has taken a hit from the pandemic, and the ability to quickly turn a profit from its software-as-a-service business geared toward smaller companies.