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Japan – Recruit Holdings reports revenue up 14%

13 February 2017

Japanese staffing firm Recruit Holdings (6098: JP) reported revenue for the six months ended 31 December 2016 of JPY 1.30 trillion (USD 11.4 billion), an increase of 14.2% compared with JPY 1.13 trillion (USD 9.9 billion) during the same period last year.

(JPY millions) 9 months ended 31 Dec 16 9 months ended 31 Dec 15 Change USD 9 months ended 31 Dec 16 (millions)
Revenue 1,300,772 1,139,425 14.2% 11,435
EBITDA 166,897 146.693 13.8% 1,467
Operating Income 92,254 81,935 12.6% 811.0
Net Income 67,663 47,709 41.8% 594.8

During the nine months ended December 31, 2016, the group continued to focus on strengthening operations in Japan as well as moving forward with further global expansion

Recruit reports in four business lines; Marketing Media (life events/lifestyle), HR Media (job boards and other online recruitment services), Staffing and Other.

In the Marketing Media segment, Recruit stated that it made efforts to improve convenience to its users through measures such as increasing client base and expanding reservation services through the utilisation of information technologies, mainly in the dining and beauty businesses. Net sales in its Marketing Media segment were JPY 272.2 billion (USD 2.39 billion), an 8.6% increase year on year,

In the HR Media segment, Recruit Holdings focused on further strengthening the competitiveness of their domestic recruiting operations, where employment demand has stabilised at a favourable level. While in their overseas recruiting operations, the group undertook initiatives to increase the number of users and clients, mainly through efforts to promote brand awareness and develop their salesforce. Net sales in the group’s HR Media segment were JPY 282.4 billion (USD 2.48 billion), an increase of 14.6% year on year

In the Staffing segment, Recruit focused on improving the efficiency of its business operations and made efforts to expand its global operational footprint through measures such as mergers and acquisitions. Net sales in the group’s Staffing segment were JPY 753.4 billion (USD 6.6 billion), an increase of 16.0% year on year.

Net sales in Recruit’s Other segment were JPY 3.9 billion (USD 34.2 million), an increase of 1.8% year on year.

In June 2016, the company declared its recommended public offer for all shares in USG People unconditional after announcing that approximately 94.85% of the shares had been tendered to Recruit under the Offer, an aggregate value of approximately EUR 1.34 million (EUR 17.59 per share).

Last year, the group announced that it had appointed Mark Schultz as new Corporate Executive Officer effective 1 July 2016.  

During the month of July 2016, the group also announced that it had acquired the assets of job search engine SimplyHired.

Earlier this year, Recruit invested in an India-based medical online platform Practo and US-based Conversica Inc., which provides an artificial intelligence-based sales assistant that reaches out to leads and engages prospects in two-way human conversations. The company also invested in US-based Savioke, Inc., a company that provides autonomous delivery service robots.

In trading today, Recruit Holdings Co Ltd shares closed at JPY 5,180.00 (USD 45.7), down 0.19% on the day. Based on its current share price the company has a market value of JPY 2.93 trillion (USD 25.7 billion).


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