Is it time to start looking for another job? (5th yearly contract recently renewed)

I work as a translator for a very big company, it’s honestly been pretty good and I don’t want to switch jobs at all.

BUT, I’ve been a contract employee for 4 years now, and they just renewed my 5th contract (2024). By law, they either offer me a different kind of contract next time (a more permanent one), or they decide not to renew it at all, and then I’d be unemployed. The translator before me went through this, he became seishain after 5 years (buy he said not everyone did).

On one hand, every year they’ve had the chance to get rid of me and they decided against it. I think I’m doing fine, the rockiest years were the first two I think. Last year my boss said something like “work wouldn’t get done without you here”, and he said 2023 was my best year so far.

On the other hand, during my yearly review he always says I still need to improve in some areas and that he expects more from me. And it’s not even something my boss decides, it’s up to HR, and they -could- decide they don’t need an in-house translator anymore for whatever reason (mostly costs I guess). I’m in Japan with a work visa, I don’t really want to leave the country…

In my position, would you start looking for another job? Would it be too late if I start next summer?

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