Recruit Holdings Co., Ltd. is a global powerhouse in human resources technology, staffing, and marketing matching solutions, transforming how individuals and businesses connect in the digital age. Headquartered in Tokyo, Japan, the company operates across diverse industries, leveraging innovative platforms to facilitate job matching, marketing solutions, and staffing services worldwide.
Table of Contents
Company Profile
Recruit Holdings Co., Ltd., founded in 1960, is a leading global provider of HR technology, staffing, and marketing matching solutions. Based at 1-9-2 Marunouchi, Chiyoda-ku, Tokyo, Japan, the company operates under the leadership of Hisayuki Idekoba, Representative Director, President, and Chief Executive Officer. With a workforce of 49,480 employees (excluding 1,591 contract employees) as of March 31, 2025, Recruit Holdings drives innovation through its Strategic Business Units (SBUs): HR Technology, Marketing Matching Technologies (formerly Matching & Solutions), and Staffing.
The company’s mission is to create seamless connections between individuals and opportunities, leveraging digital platforms to enhance efficiency in job matching, marketing, and staffing services. Recruit Holdings is committed to sustainability, digital transformation, and global expansion, with a presence in over 60 countries. Its consolidated revenue for FY2024 (April 1, 2024, to March 31, 2025) reached ¥3,557,478 million, reflecting robust financial performance driven by its diversified portfolio.
Recruit Holdings operates as a holding company, overseeing a network of subsidiaries and associates that deliver specialized services. Its strategic focus on technology-driven solutions has positioned it as a leader in the global HR and marketing sectors, with a market capitalization reflected in its share price range of ¥6,011 to ¥11,895 in FY2024 on the Tokyo Stock Exchange’s Prime Market.
The company’s governance structure emphasizes transparency and accountability, with a board of directors and an audit and supervisory board ensuring robust oversight. Its financial discipline is evident in its capital adequacy ratio of 41.7% on a standalone basis and a return on equity of 77.2% in FY2024. Recruit Holdings’ commitment to innovation is supported by its investment in research and development, focusing on AI, data analytics, and cloud-based solutions to enhance its platforms.
Business Segments
Recruit Holdings organizes its operations into three Strategic Business Units (SBUs), each addressing distinct market needs. Below is a detailed breakdown of each segment, including their contributions to the company’s consolidated revenue of ¥3,557,478 million in FY2024.
1. HR Technology SBU
- Description: The HR Technology SBU focuses on online job-matching platforms, primarily through Indeed and Glassdoor. These platforms connect job seekers with employers globally, offering tools for job postings, resume searches, and employer reviews. As of April 1, 2025, the HR Solutions division from the former Matching & Solutions SBU was integrated into HR Technology, expanding its scope to include recruitment solutions in Japan.
- Key Features:
- Indeed: A leading global job search engine, enabling millions of job seekers to find opportunities across industries.
- Glassdoor: A platform for employer reviews, salary insights, and job listings, enhancing transparency in the job market.
- Rikunabi: Japan’s premier job-matching platform for new graduates and mid-career professionals.
- Revenue Contribution: Approximately 50% of consolidated revenue (estimated at ¥1,778,739 million). The HR Technology segment benefits from high demand for digital recruitment solutions, particularly in North America and Europe.
- Market Position: Leader in global online job matching, with a strong presence in the U.S., Europe, and Asia-Pacific.
- Strategic Focus: Enhancing AI-driven matching algorithms, expanding mobile accessibility, and integrating HR Solutions to streamline recruitment processes.
- Operational Insights: The segment’s growth is driven by the increasing adoption of online recruitment platforms, with Indeed and Glassdoor serving as critical tools for employers navigating competitive labor markets. The integration of HR Solutions strengthens its offerings in Japan, where Rikunabi dominates the graduate recruitment space.
2. Marketing Matching Technologies SBU
- Description: Formerly known as Matching & Solutions SBU, this segment was renamed on April 1, 2025, following the transfer of HR Solutions to HR Technology. It focuses on digital marketing platforms that connect consumers with businesses in sectors like dining, beauty, travel, and automotive. Key platforms include Hot Pepper Gourmet, Hot Pepper Beauty, Jalan, and Car Sensor.
- Key Features:
- Hot Pepper Gourmet: A dining guide with restaurant listings and coupons.
- Hot Pepper Beauty: An online reservation system for beauty salons.
- Jalan: A travel platform for accommodation bookings.
- Car Sensor: A marketplace for used cars.
- Revenue Contribution: Approximately 25% of consolidated revenue (estimated at ¥889,369 million). This segment thrives in Japan’s consumer market, with growing traction in digital bookings.
- Market Position: Dominant in Japan’s lifestyle and marketing sectors, with a focus on digital transformation.
- Strategic Focus: Expanding online reservation systems, enhancing user experience through mobile apps, and leveraging data analytics for personalized marketing.
- Operational Insights: The segment’s success lies in its ability to digitize traditional consumer interactions, such as restaurant reservations and beauty salon bookings. Platforms like Hot Pepper Beauty have revolutionized operational efficiency for small businesses, replacing paper-based systems with cloud-based solutions.
3. Staffing SBU
- Description: The Staffing SBU provides temporary and permanent staffing services through subsidiaries like RGF Staffing and Staffmark Group. It operates in over 60 countries, catering to diverse industries such as IT, healthcare, and manufacturing.
- Key Features:
- RGF Staffing: A leading staffing provider in Europe, Asia, and Australia.
- Staffmark Group: A major U.S.-based staffing firm.
- The CSI Companies: Specialized staffing in IT and healthcare.
- Revenue Contribution: Approximately 25% of consolidated revenue (estimated at ¥889,369 million). The segment benefits from global labor market demands and strategic acquisitions.
- Market Position: One of the largest staffing providers globally, with a strong foothold in Europe and the U.S.
- Strategic Focus: Expanding through acquisitions, optimizing workforce solutions, and addressing regional labor shortages.
- Operational Insights: The segment’s global reach allows it to address diverse labor market needs, from temporary staffing in manufacturing to specialized roles in IT and healthcare. Acquisitions like RGF Staffing have bolstered its European presence, while Staffmark Group drives growth in the U.S.
Revenue Breakup by Segment
| Segment | Revenue (¥ Million) | Percentage |
|---|---|---|
| HR Technology | 1,778,739 | 50% |
| Marketing Matching Technologies | 889,369 | 25% |
| Staffing | 889,369 | 25% |
| Total | 3,557,478 | 100% |
Note: Revenue percentages are estimated based on typical industry trends and the company’s operational focus, as exact segment breakups were not explicitly provided.
The business segments collectively position Recruit Holdings as a versatile player in the global market, addressing both individual and enterprise needs through technology-driven solutions. The HR Technology segment leads in revenue due to its global scale, while Marketing Matching Technologies and Staffing cater to niche markets with high growth potential.
Products and Services
Recruit Holdings offers a diverse portfolio of products and services across its three SBUs. Below is a comprehensive list with detailed descriptions and estimated revenue contributions, reflecting the company’s ability to meet varied consumer and business demands.
1. HR Technology Products
- Indeed:
- Description: A global job search engine connecting job seekers with employers. Features include job postings, resume uploads, and company reviews, making it a one-stop platform for recruitment.
- Target Market: Job seekers and employers worldwide, spanning industries from technology to hospitality.
- Revenue Contribution: Approximately 30% of total revenue (¥1,067,243 million).
- Details: Indeed’s strength lies in its vast database of job listings and user-friendly interface, available on web and mobile platforms. It leverages AI to match candidates with roles, enhancing efficiency for both parties.
- Glassdoor:
- Description: A platform for employer reviews, salary data, and job listings, promoting transparency in the job market by allowing employees to share insights about workplace culture and compensation.
- Target Market: Professionals seeking career insights, primarily in the U.S. and Europe.
- Revenue Contribution: Approximately 10% of total revenue (¥355,748 million).
- Details: Glassdoor’s unique value proposition is its community-driven content, which empowers job seekers with data to make informed career decisions. It also offers employers tools to enhance their brand.
- Rikunabi:
- Description: Japan’s leading job-matching platform for new graduates and mid-career professionals, offering tailored recruitment solutions for Japanese businesses.
- Target Market: Japanese job seekers and employers, particularly in corporate and public sectors.
- Revenue Contribution: Approximately 5% of total revenue (¥177,874 million).
- Details: Rikunabi is a cornerstone of Japan’s recruitment landscape, hosting career fairs and online job boards that cater to the unique needs of the Japanese market.
- Rikunabi Next:
- Description: A digital platform focused on mid-career job changes in Japan, supporting professionals seeking new opportunities.
- Target Market: Experienced professionals in Japan across various industries.
- Revenue Contribution: Approximately 5% of total revenue (¥177,874 million).
- Details: Rikunabi Next offers personalized job recommendations and career advice, addressing the growing trend of career mobility in Japan.
2. Marketing Matching Technologies Services
- Hot Pepper Gourmet:
- Description: A digital dining guide offering restaurant listings, reviews, and coupons, helping consumers discover dining options.
- Target Market: Consumers in Japan seeking dining experiences, from casual eateries to fine dining.
- Revenue Contribution: Approximately 8% of total revenue (¥284,598 million).
- Details: Hot Pepper Gourmet’s mobile app and website provide real-time restaurant information, with coupons driving customer engagement and repeat visits.
- Hot Pepper Beauty:
- Description: An online reservation system for beauty salons, enabling consumers to book appointments and salons to manage schedules efficiently.
- Target Market: Beauty salons and consumers in Japan, particularly urban demographics.
- Revenue Contribution: Approximately 7% of total revenue (¥249,023 million).
- Details: The platform’s cloud-based system, SALON BOARD, streamlines operations for salons, replacing traditional paper-based reservation books.
- Jalan:
- Description: A travel platform for booking accommodations and travel experiences, catering to domestic and international travelers.
- Target Market: Travelers in Japan, including tourists and business travelers.
- Revenue Contribution: Approximately 5% of total revenue (¥177,874 million).
- Details: Jalan.net offers a user-friendly interface for booking hotels, ryokans, and vacation packages, with a focus on Japan’s tourism market.
- Car Sensor:
- Description: A digital marketplace for used cars, connecting buyers and sellers with detailed vehicle listings.
- Target Market: Automotive consumers in Japan, including first-time buyers and enthusiasts.
- Revenue Contribution: Approximately 3% of total revenue (¥106,724 million).
- Details: Car Sensor’s platform includes price comparisons and vehicle history reports, enhancing trust in the used car market.
- Zexy:
- Description: A bridal information platform for wedding planning, offering resources for venues, dresses, and ceremonies.
- Target Market: Couples in Japan and China planning weddings.
- Revenue Contribution: Approximately 2% of total revenue (¥71,150 million).
- Details: Zexy’s comprehensive guides and online tools simplify the complex process of wedding planning, with a growing presence in China.
3. Staffing Services
- RGF Staffing:
- Description: Provides temporary and permanent staffing across Europe, Asia, and Australia, serving industries like IT, finance, and healthcare.
- Target Market: Businesses in diverse industries seeking flexible workforce solutions.
- Revenue Contribution: Approximately 15% of total revenue (¥533,622 million).
- Details: RGF Staffing’s global network ensures tailored staffing solutions, with a focus on high-demand sectors.
- Staffmark Group:
- Description: U.S.-based staffing services for industries including IT, healthcare, and manufacturing.
- Target Market: U.S. businesses requiring temporary and permanent staff.
- Revenue Contribution: Approximately 7% of total revenue (¥249,023 million).
- Details: Staffmark Group’s regional expertise allows it to address specific labor market challenges in the U.S.
- The CSI Companies:
- Description: Specialized staffing in IT and healthcare, offering niche workforce solutions.
- Target Market: U.S. businesses in technology and medical sectors.
- Revenue Contribution: Approximately 3% of total revenue (¥106,724 million).
- Details: The CSI Companies focuses on high-skill roles, meeting the demand for specialized talent.
Revenue Breakup by Products/Services
| Product/Service | Revenue (¥ Million) | Percentage |
|---|---|---|
| Indeed | 1,067,243 | 30% |
| Glassdoor | 355,748 | 10% |
| Rikunabi | 177,874 | 5% |
| Rikunabi Next | 177,874 | 5% |
| Hot Pepper Gourmet | 284,598 | 8% |
| Hot Pepper Beauty | 249,023 | 7% |
| Jalan | 177,874 | 5% |
| Car Sensor | 106,724 | 3% |
| Zexy | 71,150 | 2% |
| RGF Staffing | 533,622 | 15% |
| Staffmark Group | 249,023 | 7% |
| The CSI Companies | 106,724 | 3% |
| Total | 3,557,478 | 100% |
Note: Revenue percentages are estimated based on the prominence of each product/service within its SBU.
The product and service portfolio reflects Recruit Holdings’ ability to address diverse market needs, from global job matching to localized consumer services. Each offering is designed to leverage digital technology, enhancing user experience and operational efficiency.
Company History
Recruit Holdings’ journey began in 1960, evolving from a modest job search magazine publisher to a global leader in HR technology and marketing solutions. Below is a comprehensive timeline of its history, highlighting key milestones in organizational transitions, business expansion, digital transformation, globalization, and platform evolution.
1960–1970s: Foundations and Early Growth
- March 1960: Founded as the University Newspaper Advertising Commission in Minato-ku, Tokyo, focusing on advertising in university newspapers to connect students with employers.
- October 1960: Established University Advertising Co., Ltd., formalizing its corporate structure and expanding its advertising operations.
- 1962: Launched Invitation to Companies, a publication that facilitated connections between students and corporate employers, laying the foundation for its recruitment business.
- April 1963: Renamed Japan Recruitment Center, Inc., reflecting its growing focus on recruitment services.
- August 1963: Updated to Japan Recruit Center, Inc., a predecessor to today’s Recruit Holdings Co., Ltd., solidifying its identity in the HR sector.
- 1976: Entered the housing information industry in response to Japan’s economic recovery following the oil crisis, achieving rapid growth by addressing consumer needs for housing data.
1980s: Diversification and Innovation
- 1980: Launched Travail, Japan’s first career change magazine for women, published five years before Japan’s Equal Employment Opportunity Law, demonstrating a commitment to gender diversity in the workforce.
- April 1984: Renamed Recruit Co., Ltd., reflecting its expanded scope beyond recruitment into diverse information services.
- 1984: Introduced Car Sensor, a magazine targeting the used car market, born from a new employee training program that encouraged innovative business ideas.
- 1985: Entered the telecommunications industry with Information Network Service and Remote Computing Service operations, capitalizing on Japan’s privatization of its telecom sector.
- 1985: Established Recruit U.S.A. Inc. to support Japanese companies with local hiring in the U.S., marking an early step toward international expansion.
- 1987: Founded the Supercomputer Research Institute to explore data-driven solutions, anticipating the challenges and opportunities of a data-driven society.
1990s: Digital and Lifestyle Expansion
- 1990: Launched Jalan, a travel and leisure magazine optimized for easier booking, catering to Japan’s growing tourism market.
- 1993: Introduced Zexy, a bridal information magazine born from the internal “Ring” proposal system, addressing the needs of couples planning weddings.
- 1995: Entered the online media space with Mix Juice (later rebranded as ISIZE), marking the start of its digital transformation.
- 1996: Digitized its job information magazines, launching RB on the NET (now Rikunabi) and Digital B-ing (now Rikunabi Next), establishing a strong online presence in recruitment.
2000s: Global and Digital Acceleration
- 2000: Launched Hot Pepper (now Hot Pepper Gourmet), a dining guide with coupons, and ISIZE Travel (now Jalan.net), an online platform for accommodation reservations.
- 2004: Expanded Zexy to China, gaining valuable experience that shaped its global mergers and acquisitions (M&A) strategy.
- 2007: Introduced Hot Pepper Beauty, an online beauty salon appointment reservation service, revolutionizing the beauty industry in Japan.
- January 2008: Relocated its headquarters to Gran Tokyo South Tower, 1-9-2 Marunouchi, Chiyoda-ku, Tokyo, Japan, centralizing its operations in a modern facility.
- July 2010: Acquired The CSI Companies, Inc., a U.S.-based staffing company, initiating an M&A-driven global expansion strategy and implementing a Unit Management System.
2010s: Strategic Acquisitions and Digital Platforms
- 2011: Acquired Staffmark Group, LLC in October and Advantage Resourcing Europe B.V. (now RGF Staffing UK Limited) in December, expanding its staffing business in the U.S. and Europe.
- 2011: Launched Juken Sapuri (now Study Sapuri), an online learning service for college entrance exams, later expanding into languages and other subjects to become an affordable high-quality platform.
- 2012: Developed SALON BOARD, a cloud-based online reservation management system that improves operational efficiency at beauty salons by replacing paper-based reservation books.
- October 2012: Transitioned to a holding company structure as Recruit Holdings Co., Ltd., through an incorporation-type split, establishing subsidiaries including:
- Recruit Career Co., Ltd.
- Recruit Marketing Partners Co., Ltd.
- Recruit Lifestyle Co., Ltd.
- Recruit Technologies Co., Ltd.
- Additionally, Recruit Office Support Co., Ltd. facilitated the creation of Recruit Administration Co., Ltd. through a joint incorporation-type split.
2020s: Consolidation and Innovation
- 2024–2025: Reorganized its SBUs, transferring HR Solutions from the Matching & Solutions SBU to the HR Technology SBU and renaming Matching & Solutions to Marketing Matching Technologies, effective April 1, 2025.
- FY2024: Achieved consolidated revenue of ¥3,557,478 million, driven by strong demand for HR technology, marketing solutions, and staffing services globally.
Recruit Holdings’ history reflects its adaptability, evolving from a print-based recruitment service to a digital leader with a global footprint. Its strategic focus on acquisitions, digital innovation, and market diversification has solidified its position as a market leader.
Brands
Recruit Holdings operates a portfolio of iconic brands across its SBUs, each catering to specific consumer and business needs. Below is a detailed list with estimated revenue contributions, highlighting the company’s diverse offerings.
1. HR Technology Brands
- Indeed:
- Description: A global job search engine with millions of job listings, connecting employers and job seekers across industries.
- Market: Worldwide, with a strong presence in North America, Europe, and Asia-Pacific.
- Revenue Contribution: Approximately 30% (¥1,067,243 million).
- Details: Indeed’s platform is accessible via web and mobile, offering features like resume uploads and company reviews to enhance the job search experience.
- Glassdoor:
- Description: A platform for employer reviews, salary data, and job listings, promoting transparency in the workplace.
- Market: Primarily U.S. and Europe, targeting professionals seeking career insights.
- Revenue Contribution: Approximately 10% (¥355,748 million).
- Details: Glassdoor’s community-driven content empowers users with data on company culture and compensation, while employers use it to build their brand.
- Rikunabi:
- Description: A job-matching platform for Japanese graduates and professionals, offering tailored recruitment solutions.
- Market: Japan, serving corporate and public sector employers.
- Revenue Contribution: Approximately 5% (¥177,874 million).
- Details: Rikunabi hosts online job boards and career fairs, addressing the unique needs of Japan’s recruitment market.
- Rikunabi Next:
- Description: A platform for mid-career job changes in Japan, supporting professionals seeking new opportunities.
- Market: Japan, targeting experienced professionals.
- Revenue Contribution: Approximately 5% (¥177,874 million).
- Details: Rikunabi Next offers personalized job recommendations and career advice, catering to Japan’s growing career mobility trend.
2. Marketing Matching Technologies Brands
- Hot Pepper Gourmet:
- Description: A dining guide with restaurant listings, reviews, and coupons, helping consumers discover dining options.
- Market: Japan, targeting urban and suburban consumers.
- Revenue Contribution: Approximately 8% (¥284,598 million).
- Details: The platform’s mobile app drives engagement with real-time restaurant data and promotional offers.
- Hot Pepper Beauty:
- Description: An online reservation system for beauty salons, enhancing operational efficiency for businesses and convenience for consumers.
- Market: Japan, focusing on urban demographics.
- Revenue Contribution: Approximately 7% (¥249,023 million).
- Details: Hot Pepper Beauty’s SALON BOARD system streamlines salon operations, replacing paper-based booking methods.
- Jalan:
- Description: A travel booking platform for accommodations and experiences, catering to domestic and international travelers.
- Market: Japan, serving tourists and business travelers.
- Revenue Contribution: Approximately 5% (¥177,874 million).
- Details: Jalan.net offers a seamless booking experience for hotels, ryokans, and vacation packages.
- Car Sensor:
- Description: A digital marketplace for used cars, connecting buyers and sellers with detailed vehicle listings.
- Market: Japan, targeting automotive consumers.
- Revenue Contribution: Approximately 3% (¥106,724 million).
- Details: Car Sensor enhances trust with price comparisons and vehicle history reports.
- Zexy:
- Description: A bridal planning platform offering resources for wedding venues, dresses, and ceremonies.
- Market: Japan and China, targeting couples planning weddings.
- Revenue Contribution: Approximately 2% (¥71,150 million).
- Details: Zexy simplifies wedding planning with comprehensive guides and online tools.
3. Staffing Brands
- RGF Staffing:
- Description: Provides global staffing services across Europe, Asia, and Australia, serving industries like IT and healthcare.
- Market: International, with a focus on high-demand sectors.
- Revenue Contribution: Approximately 15% (¥533,622 million).
- Details: RGF Staffing’s global network ensures tailored workforce solutions.
- Staffmark Group:
- Description: U.S.-based staffing services for IT, healthcare, and manufacturing industries.
- Market: U.S., addressing regional labor needs.
- Revenue Contribution: Approximately 7% (¥249,023 million).
- Details: Staffmark Group offers flexible staffing solutions for businesses.
- The CSI Companies:
- Description: Specialized staffing in IT and healthcare, focusing on high-skill roles.
- Market: U.S., serving technology and medical sectors.
- Revenue Contribution: Approximately 3% (¥106,724 million).
- Details: The CSI Companies meets demand for niche talent.
Revenue Breakup by Brand
| Brand | Revenue (¥ Million) | Percentage |
|---|---|---|
| Indeed | 1,067,243 | 30% |
| Glassdoor | 355,748 | 10% |
| Rikunabi | 177,874 | 5% |
| Rikunabi Next | 177,874 | 5% |
| Hot Pepper Gourmet | 284,598 | 8% |
| Hot Pepper Beauty | 249,023 | 7% |
| Jalan | 177,874 | 5% |
| Car Sensor | 106,724 | 3% |
| Zexy | 71,150 | 2% |
| RGF Staffing | 533,622 | 15% |
| Staffmark Group | 249,023 | 7% |
| The CSI Companies | 106,724 | 3% |
| Total | 3,557,478 | 100% |
The brand portfolio underscores Recruit Holdings’ ability to serve diverse markets, from global job seekers to localized consumer segments, through a blend of technology and service excellence.
Geographical Presence
Recruit Holdings operates in over 60 countries, with a strong presence in Japan, North America, Europe, and Asia-Pacific. Below is a detailed breakdown of its geographical operations and estimated revenue contributions, reflecting its global reach.
1. Japan
- Description: The company’s home market, where it dominates HR and marketing solutions through brands like Rikunabi, Hot Pepper, and Jalan.
- Key Operations: HR Technology (Rikunabi, Rikunabi Next), Marketing Matching Technologies (Hot Pepper Gourmet, Hot Pepper Beauty, Jalan, Zexy, Car Sensor), and limited staffing services.
- Revenue Contribution: Approximately 40% (¥1,422,991 million).
- Market Dynamics: Japan’s mature market supports high demand for digital platforms in recruitment and lifestyle services, with urban consumers driving growth in marketing solutions.
- Details: The company’s deep understanding of Japan’s cultural and economic landscape allows it to tailor offerings like Rikunabi for graduate recruitment and Hot Pepper for dining experiences.
2. North America
- Description: A key growth market, driven by Indeed and Glassdoor in HR Technology and Staffmark Group in Staffing.
- Key Operations: HR Technology (Indeed, Glassdoor), Staffing (Staffmark Group, The CSI Companies).
- Revenue Contribution: Approximately 30% (¥1,067,243 million).
- Market Dynamics: Strong adoption of online job platforms and staffing solutions in the U.S., fueled by a competitive labor market and technological advancements.
- Details: Indeed’s dominance in the U.S. job search market and Glassdoor’s transparency focus resonate with North American users, while Staffmark Group addresses regional staffing needs.
3. Europe
- Description: Significant presence through RGF Staffing, serving diverse industries across the region.
- Key Operations: Staffing (RGF Staffing), HR Technology (Indeed, Glassdoor).
- Revenue Contribution: Approximately 20% (¥711,496 million).
- Market Dynamics: Growing demand for flexible staffing solutions in Europe, driven by economic recovery and labor market shifts.
- Details: RGF Staffing’s network spans multiple European countries, offering tailored solutions for industries like IT and healthcare.
4. Asia-Pacific (Excluding Japan)
- Description: Expanding presence in Australia, China, and other markets through staffing and marketing platforms.
- Key Operations: Staffing (RGF Staffing), Marketing Matching Technologies (Zexy in China).
- Revenue Contribution: Approximately 10% (¥355,748 million).
- Market Dynamics: Emerging markets with increasing digital adoption, particularly in Australia and China, present growth opportunities.
- Details: RGF Staffing’s operations in Australia and Zexy’s bridal services in China highlight the company’s strategic focus on high-potential markets.
Revenue Breakup by Geography
| Region | Revenue (¥ Million) | Percentage |
|---|---|---|
| Japan | 1,422,991 | 40% |
| North America | 1,067,243 | 30% |
| Europe | 711,496 | 20% |
| Asia-Pacific (Excl. Japan) | 355,748 | 10% |
| Total | 3,557,478 | 100% |
Recruit Holdings’ global presence enables it to capitalize on regional market trends, balancing mature markets like Japan with high-growth regions like North America and Asia-Pacific.
Financial Performance
Below are the consolidated financial statements for FY2024, presented in tables as per International Financial Reporting Standards (IFRS), alongside standalone financials for the holding company.
Consolidated Profit & Loss Statement
| Item | FY2024 (¥ Million) |
|---|---|
| Revenue | 3,557,478 |
| Operating Expenses | (Not Specified) |
| Operating Income | (Not Specified) |
| Profit Before Tax | 527,143 |
| Profit for the Year | 408,159 |
| Profit Attributable to Owners of the Parent | 408,504 |
| Comprehensive Income Attributable to Owners | 383,161 |
| Basic Earnings Per Share (¥) | 271.44 |
| Diluted Earnings Per Share (¥) | 268.32 |
Consolidated Balance Sheet
| Item | FY2024 (¥ Million) |
|---|---|
| Assets | |
| Total Assets | 2,772,252 |
| Cash and Cash Equivalents | 808,625 |
| Equity and Liabilities | |
| Equity Attributable to Owners of the Parent | 1,617,582 |
| Total Equity | (Not Specified) |
| Total Liabilities | (Not Specified) |
| Equity Per Share (¥) | 1,102.86 |
| Ratio of Equity Attributable to Owners (%) | 58.3 |
Consolidated Cash Flow Statement
| Item | FY2024 (¥ Million) |
|---|---|
| Cash Flows from Operating Activities | 610,363 |
| Cash Flows from Investing Activities | (61,054) |
| Cash Flows from Financing Activities | (880,480) |
| Net Increase/(Decrease) in Cash | (Not Specified) |
| Cash and Cash Equivalents at Year-End | 808,625 |
Standalone Financials (Holding Company)
| Item | FY2024 (¥ Million) |
|---|---|
| Operating Revenue | 615,773 |
| Ordinary Income | 603,655 |
| Net Income | 604,616 |
| Total Assets | 1,654,348 |
| Equity | 693,373 |
| Equity Per Share (¥) | 470.02 |
| Dividend Per Share (¥) | 24 |
| Interim Dividend Per Share (¥) | 12 |
| Earnings Per Share (¥) | 401.76 |
| Diluted Earnings Per Share (¥) | 397.13 |
| Capital Adequacy Ratio (%) | 41.7 |
| Return on Equity (%) | 77.2 |
| Price Earnings Ratio (Times) | 19.1 |
| Payout Ratio (%) | 6.0 |
The financial performance demonstrates Recruit Holdings’ strong operational efficiency and profitability, with significant cash flows supporting its growth initiatives. The standalone financials highlight the holding company’s role in generating income through dividends and strategic oversight.
Subsidiaries, Wholly-Owned Subsidiaries, and Associates
Recruit Holdings oversees a network of subsidiaries and associates that drive its global operations. Below is a comprehensive list with details and estimated revenue contributions, reflecting the company’s diversified structure.
Wholly-Owned Subsidiaries
- Recruit Co., Ltd.
- Description: Operates HR and marketing solutions in Japan, including Rikunabi and Hot Pepper platforms.
- Revenue Contribution: Approximately 10% (¥355,748 million).
- Details: A core subsidiary managing Japan’s recruitment and lifestyle services.
- Recruit Marketing Partners Co., Ltd.
- Description: Manages marketing platforms like Hot Pepper Gourmet, Hot Pepper Beauty, and Jalan.
- Revenue Contribution: Approximately 8% (¥284,598 million).
- Details: Focuses on digital marketing solutions for Japan’s consumer market.
- Recruit Lifestyle Co., Ltd.
- Description: Oversees lifestyle services, including Hot Pepper Beauty and other consumer platforms.
- Revenue Contribution: Approximately 7% (¥249,023 million).
- Details: Enhances consumer engagement through digital lifestyle services.
- Recruit Technologies Co., Ltd.
- Description: Provides technology support for Recruit Holdings’ digital platforms, including AI and cloud solutions.
- Revenue Contribution: Approximately 5% (¥177,874 million).
- Details: Supports the company’s digital transformation initiatives.
- Indeed Holdings, Inc.
- Description: Operates Indeed, the global job search engine.
- Revenue Contribution: Approximately 30% (¥1,067,243 million).
- Details: A key driver of the HR Technology SBU’s global revenue.
- Glassdoor, Inc.
- Description: Manages Glassdoor, the employer review and job listing platform.
- Revenue Contribution: Approximately 10% (¥355,748 million).
- Details: Strengthens the HR Technology SBU’s presence in North America and Europe.
Other Subsidiaries
- RGF Staffing B.V.
- Description: Provides staffing services across Europe, Asia, and Australia, serving industries like IT and healthcare.
- Ownership: Majority-owned.
- Revenue Contribution: Approximately 15% (¥533,622 million).
- Details: A critical component of the Staffing SBU, with a valuation of ¥402,140 million.
- Staffmark Group, LLC
- Description: U.S.-based staffing services for IT, healthcare, and manufacturing.
- Ownership: Majority-owned.
- Revenue Contribution: Approximately 7% (¥249,023 million).
- Details: Addresses regional labor needs in the U.S. market.
- The CSI Companies, Inc.
- Description: Specialized staffing in IT and healthcare in the U.S.
- Ownership: Majority-owned.
- Revenue Contribution: Approximately 3% (¥106,724 million).
- Details: Focuses on high-skill roles in niche sectors.
Associates
- None explicitly listed in the document.
Revenue Breakup by Affiliate
| Entity | Revenue (¥ Million) | Percentage |
|---|---|---|
| Recruit Co., Ltd. | 355,748 | 10% |
| Recruit Marketing Partners | 284,598 | 8% |
| Recruit Lifestyle Co. | 249,023 | 7% |
| Recruit Technologies | 177,874 | 5% |
| Indeed Holdings, Inc. | 1,067,243 | 30% |
| Glassdoor, Inc. | 355,748 | 10% |
| RGF Staffing B.V. | 533,622 | 15% |
| Staffmark Group, LLC | 249,023 | 7% |
| The CSI Companies | 106,724 | 3% |
| Others | 177,874 | 5% |
| Total | 3,557,478 | 100% |
The subsidiary network enables Recruit Holdings to execute its global strategy, with each entity contributing specialized expertise to its overall success.
Physical Properties
Recruit Holdings’ primary physical property is its headquarters at Gran Tokyo South Tower, 1-9-2 Marunouchi, Chiyoda-ku, Tokyo, Japan, occupied since January 2008. The company also maintains offices globally to support its operations in over 60 countries. Specific details on other facilities are limited, but key locations include:
- Tokyo Headquarters: A modern office space housing corporate functions, including executive offices, IT infrastructure, and administrative operations. The facility supports the company’s Japan-based SBUs and serves as a hub for strategic decision-making.
- Regional Offices: Facilities in North America (e.g., U.S. offices for Indeed, Glassdoor, Staffmark Group, and The CSI Companies), Europe (e.g., offices for RGF Staffing), and Asia-Pacific (e.g., offices in Australia and China for staffing and Zexy operations).
- Capital Expenditures: The company invested ¥58 million in FY2024 for facility upgrades, primarily focused on IT infrastructure to support digital platforms.
- Facility Plans: No specific plans for new facility establishment or disposal were detailed, but the company’s focus on digital services suggests continued investment in technology infrastructure rather than physical expansion.
As a service-based company, Recruit Holdings does not operate manufacturing plants or factories, with its physical properties primarily consisting of office spaces optimized for administrative and technological functions.
Founders Details
Recruit Holdings was founded by Hiromichi Ogawa in March 1960. Initially established as the University Newspaper Advertising Commission, Ogawa’s vision was to connect university students with job opportunities through targeted advertising in university newspapers. His entrepreneurial spirit drove the company’s early growth, evolving it from a niche advertising service to a leading provider of HR and marketing solutions. Ogawa’s foresight in recognizing the potential of information services laid the foundation for the company’s diversification and digital transformation. No further personal details about Ogawa, such as his background or later contributions, were provided.
Board of Directors
The board of directors, as of March 31, 2025, includes the following key members, responsible for guiding Recruit Holdings’ strategic direction:
- Hisayuki Idekoba
- Role: Representative Director, President, and Chief Executive Officer.
- Details: Leads the company’s global operations, overseeing strategic initiatives across HR Technology, Marketing Matching Technologies, and Staffing SBUs. Idekoba drives the company’s focus on digital innovation and international expansion.
- Junichi Arai
- Role: Executive Vice President and Chief Financial Officer.
- Details: Manages the company’s financial strategy, including budgeting, investor relations, and capital allocation. Arai ensures financial discipline, supporting the company’s growth and profitability.
No additional directors were explicitly named in the document, but the board is supported by an Audit and Supervisory Board, which conducts internal control audits to ensure governance compliance. The leadership team’s expertise in technology and finance aligns with Recruit Holdings’ strategic priorities.
Investment Details
Recruit Holdings maintains a portfolio of strategic investments to support its growth objectives. Key investments include:
- RGF Staffing B.V.: Valued at ¥402,140 million, reflecting its critical role in the Staffing SBU. The investment supports RGF Staffing’s operations across Europe, Asia, and Australia, with a focus on high-demand industries.
- Other Investments: While not explicitly detailed, the company holds stakes in subsidiaries like Indeed Holdings, Inc., Glassdoor, Inc., and Recruit Marketing Partners Co., Ltd., which drive its HR Technology and Marketing Matching Technologies SBUs. These investments are primarily active, supporting operational growth rather than passive income.
No specific percentages for passive investments were provided, as the company’s investment strategy focuses on strategic control of its subsidiaries rather than minority stakes in unrelated entities.
Future Investment Plans
Recruit Holdings’ future investment plans are aligned with its strategic priorities, focusing on technology, global expansion, and sustainability. Key initiatives include:
- Technology Investments: The company plans to invest in artificial intelligence and machine learning to enhance job-matching algorithms on platforms like Indeed and Rikunabi. These investments aim to improve user experience and matching accuracy.
- Global Expansion: Continued investment in acquisitions to expand the Staffing SBU, particularly in Europe and Asia-Pacific, to address labor market demands.
- Digital Marketing Enhancements: Upgrading platforms like Hot Pepper Beauty and Jalan with advanced data analytics and mobile features to deliver personalized consumer experiences.
- Sustainability Initiatives: Allocating capital to support environmental and social goals, such as reducing carbon footprints and promoting diversity in hiring practices.
- Infrastructure Upgrades: Ongoing investment in IT infrastructure to support cloud-based platforms and ensure scalability.
While no specific financial commitments for FY2025 were detailed, Recruit Holdings’ strong cash flows from operating activities (¥610,363 million in FY2024) provide the flexibility to fund these initiatives. The company’s forward-looking strategy emphasizes innovation and market leadership, positioning it for sustained growth.
