Declared Dividend • Jul 26
Final dividend of JP¥13.00 announced Shareholders will receive a dividend of JP¥13.00. Ex-date: 29th September 2026 Payment date: 15th December 2026 Dividend yield will be 21%, which is higher than the industry average of 1.8%. Payout Ratios Payout ratio: 7%. Cash payout ratio: 6%. Announcement • Jun 26
Recruit Holdings Co., Ltd. to Report Q1, 2027 Results on Aug 07, 2026 Recruit Holdings Co., Ltd. announced that they will report Q1, 2027 results at 3:30 AM, Tokyo Standard Time on Aug 07, 2026 Reported Earnings • Jun 25
Full year 2026 earnings released: EPS: JP¥350 (vs JP¥271 in FY 2025) Full year 2026 results: EPS: JP¥350 (up from JP¥271 in FY 2025). Revenue: JP¥3.70t (up 3.9% from FY 2025). Net income: JP¥496.9b (up 22% from FY 2025). Profit margin: 13% (up from 12% in FY 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.4% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Professional Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 28% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • May 20
Full year 2026 earnings released: EPS: JP¥350 (vs JP¥271 in FY 2025) Full year 2026 results: EPS: JP¥350 (up from JP¥271 in FY 2025). Revenue: JP¥3.70t (up 3.9% from FY 2025). Net income: JP¥496.9b (up 22% from FY 2025). Profit margin: 13% (up from 12% in FY 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Professional Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 22% per year whereas the company’s share price has increased by 21% per year. Announcement • May 15
Recruit Holdings Co., Ltd., Annual General Meeting, Jun 24, 2026 Recruit Holdings Co., Ltd., Annual General Meeting, Jun 24, 2026. Announcement • Mar 31
Recruit Holdings Co., Ltd. (TSE:6098) announces an Equity Buyback for 64,000,000 shares, representing 4.58% for ¥350,000 million. Recruit Holdings Co., Ltd. (TSE:6098) announces a share repurchase program. Under the program, the company will repurchase up to 64,000,000 shares, representing 4.58% of its total shares outstanding (excluding treasury shares), for a total of ¥350,000 million. The purpose of the program is to improve capital efficiency and to maximize shareholder returns. The shares acquired through the Purchases may be used in the future for the delivery of shares upon the exercise of stock acquisition rights, for stock compensation using the Company’s common stock for employees of the Group (the Company and its subsidiaries), or for strategic M&A with the Company’s common stock as consideration, as well as may be cancelled. The repurchase program is valid till November 30, 2026 . As of February 28, 2026, the company had 1,396,213,450 shares outstanding (excluding treasury shares) and had 167,698,699 shares in treasury. Announcement • Mar 25
Recruit Holdings Co., Ltd. to Report Q4, 2026 Results on May 15, 2026 Recruit Holdings Co., Ltd. announced that they will report Q4, 2026 results on May 15, 2026 Announcement • Feb 11
Recruit Holdings Co., Ltd. Revises Earnings Guidance for the Year 2026 Recruit Holdings Co., Ltd. revised earnings guidance for the year 2026. While the adjustment is minor following the previous revision, the company are increasing the revenue outlook by JPY 66.1 billion to JPY 3,664.7 billion. The company expects the full year consolidated revenue, profit attributable to owners of the parent and basic EPS to all reach new record highs. Basic EPS of JPY 335, up 23.4% year-over-year. Announcement • Dec 19
Recruit Holdings Co., Ltd. to Report Q3, 2026 Results on Feb 09, 2026 Recruit Holdings Co., Ltd. announced that they will report Q3, 2026 results on Feb 09, 2026 Announcement • Oct 16
Recruit Holdings Co., Ltd. (TSE:6098) announces an Equity Buyback for 38,000,000 shares, representing 2.68% for ¥250,000 million. Recruit Holdings Co., Ltd. (TSE:6098) announces a share repurchase program. Under the program, the company will repurchase up to 38,000,000 shares, representing 2.68% of its total shares outstanding (excluding treasury shares), for a total of ¥250,000 million. The purpose of repurchase program is to maximize shareholder returns. The purpose of the program is to improve capital efficiency and to maximize shareholder returns. The shares acquired through the Purchases may be used in the future for the delivery of shares upon the exercise of stock acquisition rights, for stock compensation using the Company’s common stock for employees of the Group (the Company and its subsidiaries), or for strategic M&A with the Company’s common stock as consideration, as well as may be cancelled. The repurchase program is valid till April 30, 2026. As of September 30, 2025, the company had 1,420,361,526 shares outstanding (excluding treasury shares) and had 143,550,623 shares in treasury. Announcement • Aug 11
Recruit Holdings Co., Ltd. (TSE:6098) announces an Equity Buyback for 5,000,000 shares, representing 0.32% for ¥45,000 million. Recruit Holdings Co., Ltd. (TSE:6098) announces a share repurchase program. Under the program, the company will repurchase up to 5,000,000 shares, representing 0.35% of its total shares outstanding (excluding treasury shares), for a total of ¥45,000 million. The purpose of repurchase program is to maximize shareholder returns. The program will be funded using company’s own funds. The purpose of the program is to invest in its long-term business strategy in order to achieve sustainable profit growth and increase enterprise value. The shares acquired through the Purchases may be used in the future for the delivery of shares upon the exercise of stock acquisition rights, for stock compensation using the Company’s common stock for employees of the Group (the Company and its subsidiaries), or for strategic M&A with the Company’s common stock as consideration, as well as may be cancelled. As of June 30, 2025, the company had 1,563,912,149 shares outstanding (excluding treasury shares) and had 134,961,955 shares in treasury. Announcement • Jul 11
Recruit Holdings’ HR Technology Segment Announces Workforce Reduction On July 10, the HR Technology segment of Recruit Holdings Co., Ltd. announced a reduction of approximately 1,300 employees, representing about 6% of the segment's total workforce as of April 1, 2025. The financial impacts of the workforce reduction has already been largely incorporated into the outlook for the HR Technology segment on a US dollar-basis, which is an important component of the Company's consolidated financial guidance for the fiscal year ending March 31, 2026 disclosed on May 9, 2025. Announcement • Jun 25
Recruit Holdings Co., Ltd. to Report Q1, 2026 Results on Aug 05, 2025 Recruit Holdings Co., Ltd. announced that they will report Q1, 2026 results at 3:30 PM, Tokyo Standard Time on Aug 05, 2025 Announcement • May 09
Recruit Holdings Co., Ltd., Annual General Meeting, Jun 26, 2025 Recruit Holdings Co., Ltd., Annual General Meeting, Jun 26, 2025. Announcement • Mar 27
Recruit Holdings Co., Ltd. to Report Q4, 2025 Results on May 09, 2025 Recruit Holdings Co., Ltd. announced that they will report Q4, 2025 results at 3:30 PM, Tokyo Standard Time on May 09, 2025 Announcement • Feb 28
Recruit Holdings Co., Ltd. (TSE:6098) announces an Equity Buyback for 52,000,000 shares, representing 3.51% for ¥450,000 million. Recruit Holdings Co., Ltd. (TSE:6098) announces a share repurchase program. Under the program, the company will repurchase up to 52,000,000 shares, representing 3.51% of its total shares outstanding (excluding treasury shares), for a total of ¥450,000 million. The purpose of repurchase program is to maximize shareholder returns. The program will be funded using company’s own funds. The purpose of the program is to invest in its long-term business strategy in order to achieve sustainable profit growth and increase enterprise value. The shares acquired through the Purchases may be used in the future for the delivery of shares upon the exercise of stock acquisition rights, for stock compensation using the Company’s common stock for employees of the Group (the Company and its subsidiaries), or for strategic M&A with the Company’s common stock as consideration, as well as may be cancelled. The repurchase program is valid till December 23, 2025. As of December 31, 2024, the company had 1,482,740,881 shares outstanding (excluding treasury shares) and had 167,101,068 shares in treasury. Announcement • Dec 23
Recruit Holdings Co., Ltd. to Report Q3, 2025 Results on Feb 12, 2025 Recruit Holdings Co., Ltd. announced that they will report Q3, 2025 results on Feb 12, 2025 Reported Earnings • Nov 13
Second quarter 2025 earnings released: EPS: JP¥76.58 (vs JP¥73.46 in 2Q 2024) Second quarter 2025 results: EPS: JP¥76.58 (up from JP¥73.46 in 2Q 2024). Revenue: JP¥897.1b (up 4.9% from 2Q 2024). Net income: JP¥116.1b (flat on 2Q 2024). Profit margin: 13% (in line with 2Q 2024). Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Professional Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Sep 26
Recruit Holdings Co., Ltd. to Report Q2, 2025 Results on Nov 11, 2024 Recruit Holdings Co., Ltd. announced that they will report Q2, 2025 results at 3:30 PM, Tokyo Standard Time on Nov 11, 2024 Upcoming Dividend • Sep 20
Upcoming dividend of JP¥12.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 11 December 2024. Payout ratio is a comfortable 9.9% and this is well supported by cash flows. Trailing yield: 0.3%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (2.2%). Reported Earnings • Aug 09
First quarter 2025 earnings released: EPS: JP¥69.12 (vs JP¥62.04 in 1Q 2024) First quarter 2025 results: EPS: JP¥69.12 (up from JP¥62.04 in 1Q 2024). Revenue: JP¥901.6b (up 6.0% from 1Q 2024). Net income: JP¥106.4b (up 8.5% from 1Q 2024). Profit margin: 12% (in line with 1Q 2024). Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Professional Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Jul 30
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 24% to €49.96. The fair value is estimated to be €41.60, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 21%. For the next 3 years, revenue is forecast to grow by 4.6% per annum. Earnings are also forecast to grow by 8.8% per annum over the same time period. Declared Dividend • Jul 11
Final dividend of JP¥12.00 announced Shareholders will receive a dividend of JP¥12.00. Ex-date: 27th September 2024 Payment date: 11th December 2024 Dividend yield will be 23%, which is higher than the industry average of 1.8%. Payout Ratios Payout ratio: 10%. Cash payout ratio: 8%. Announcement • Jul 09
Recruit Holdings Co., Ltd. (TSE:6098) announces an Equity Buyback for 87,000,000 shares, representing 5.67% for ¥600,000 million. Recruit Holdings Co., Ltd. (TSE:6098) announces a share repurchase program. Under the program, the company will repurchase up to 87,000,000 shares, representing 5.67% of its total shares outstanding (excluding treasury shares), for a total of ¥600,000 million. The purpose of repurchase program is to maximize shareholder returns. The program will be funded using company’s consolidated liquidity on hand (cash and cash equivalents) . The repurchased shares will be used for strategic M&A with the Company’s common stock as consideration, for the delivery of shares upon the exercise of stock acquisition rights, or for stock compensation using the Company’s common stock for employees of the Group. The repurchase program is valid till July 9, 2025. As of June 30, 2024, the company had 1,534,925,567 shares outstanding (excluding treasury shares) and had 114,916,382 shares in treasury. Buy Or Sell Opportunity • Jul 02
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 22% to €47.67. The fair value is estimated to be €38.96, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 21%. For the next 3 years, revenue is forecast to grow by 4.6% per annum. Earnings are also forecast to grow by 8.9% per annum over the same time period. Buy Or Sell Opportunity • Jun 27
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 22% to €48.60. The fair value is estimated to be €39.89, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 21%. For the next 3 years, revenue is forecast to grow by 4.6% per annum. Earnings are also forecast to grow by 8.9% per annum over the same time period. Announcement • Jun 26
Recruit Holdings Co., Ltd. to Report Q1, 2025 Results on Aug 08, 2024 Recruit Holdings Co., Ltd. announced that they will report Q1, 2025 results on Aug 08, 2024 Reported Earnings • Jun 26
Full year 2024 earnings released: EPS: JP¥226 (vs JP¥169 in FY 2023) Full year 2024 results: EPS: JP¥226 (up from JP¥169 in FY 2023). Revenue: JP¥3.42t (flat on FY 2023). Net income: JP¥353.7b (up 31% from FY 2023). Profit margin: 10% (up from 7.9% in FY 2023). Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Professional Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 17
Full year 2024 earnings released: EPS: JP¥226 (vs JP¥169 in FY 2023) Full year 2024 results: EPS: JP¥226 (up from JP¥169 in FY 2023). Revenue: JP¥3.42t (flat on FY 2023). Net income: JP¥353.7b (up 31% from FY 2023). Profit margin: 10% (up from 7.9% in FY 2023). Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Professional Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • May 17
Recruit Holdings Co., Ltd., Annual General Meeting, Jun 20, 2024 Recruit Holdings Co., Ltd., Annual General Meeting, Jun 20, 2024. Announcement • Mar 25
Recruit Holdings Co., Ltd. to Report Q4, 2024 Results on May 15, 2024 Recruit Holdings Co., Ltd. announced that they will report Q4, 2024 results on May 15, 2024 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥11.50 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 27 June 2024. Payout ratio is a comfortable 10% and this is well supported by cash flows. Trailing yield: 0.3%. Lower than top quartile of German dividend payers (4.9%). Lower than average of industry peers (2.4%). Reported Earnings • Feb 11
Third quarter 2024 earnings released: EPS: JP¥68.03 (vs JP¥48.60 in 3Q 2023) Third quarter 2024 results: EPS: JP¥68.03 (up from JP¥48.60 in 3Q 2023). Revenue: JP¥866.8b (down 1.5% from 3Q 2023). Net income: JP¥106.4b (up 37% from 3Q 2023). Profit margin: 12% (up from 8.8% in 3Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Professional Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • Feb 09
Recruit Holdings Co., Ltd. Provides Earnings Guidance for the Fourth Quarter Ending March 31, 2024 Recruit Holdings Co., Ltd. provided earnings guidance for the fourth quarter ending March 31, 2024. For the period, the company expects revenue to be ¥830.0 billion, an increase of 0.3% year over year and adjusted EBITDA to be ¥99.0 billion, a decrease of 9.3%. Announcement • Feb 01
Recruit Holdings, Inc. Introduces the New Job Distribution Platform Indeed Plus Recruit Holdings announced its most important business strategy, Simplify Hiring, aims to make it faster and easier to get a job and to make a hire. In Japan, the second largest HR Matching market after the US, Indeed launched Indeed PLUS nationwide on January 30, 2024. Indeed PLUS is a job distribution platform that brings more job posting options and efficient job search and recruitment activities to job seekers and employers. The most important feature of Indeed PLUS is that it automatically distributes job postings based on their job descriptions to the job boards linked to Indeed PLUS (Indeed PLUS Job Boards) that are judged to be the most appropriate through an "Application Programming Interface" (API). With the introduction of Indeed PLUS, the existing multiple full-time job boards and part-time job boards in HR Solutions in the Matching & Solutions segment (HR Solutions) will join the Indeed PLUS Job Boards. As a partner of Indeed Japan KK (Indeed Japan), HR Solutions will now offer Indeed PLUS to its business clients, supporting the sales and marketing activities of Indeed PLUS. In Japan, HR Solutions and Indeed have been collaborating by leveraging their respective strengths. In the highly fragmented Japanese job advertising market, where job boards are categorized by type of profession, location, and type of employment, HR Solutions operates leading job boards focused on full-time and part-time jobs including Rikunabi NEXT, TOWNWORK, From A Navi, Hatalike, and Travail based on a "Pay Per Post'' (or "PPP") pricing model. Indeed offers both free and paid job postings for all job types with a "Pay Per Click" (or "PPC") pricing model, which is an auction-based pay for performance model. Moving forward, HR Solutions and Indeed will accelerate their collaboration to develop better solutions for job seekers and employers in the Japanese market. In Japan, job seekers have tended to rely on specialized job boards, resulting in job seekers' options being limited to jobs only posted directly on these selected job boards. Now, Indeed PLUS automatically distributes job postings based On their job descriptions from Applicant Tracking Systems ("ATS") linked to Indeed PLUS to the Indeed PLUS Job Boards that are judged to be the more appropriate, improving the job search experience by offering a broader range of jobs. Announcement • Dec 22
Recruit Holdings Co., Ltd. to Report Q3, 2024 Results on Feb 09, 2024 Recruit Holdings Co., Ltd. announced that they will report Q3, 2024 results at 3:00 PM, Tokyo Standard Time on Feb 09, 2024 Announcement • Dec 13
Recruit Holdings Co., Ltd. (TSE:6098) announces an Equity Buyback for 46,000,000 shares, representing 2.83% for ¥200,000 million. Recruit Holdings Co., Ltd. (TSE:6098) announces a share repurchase program. Under the program, the company will repurchase up to 46,000,000 shares, representing 2.83% of its total shares outstanding (excluding treasury shares), for a total of ¥200,000 million. The purpose of repurchase program is to maximize shareholder returns. The program will be funded using company’s own funds. The repurchased shares will be used for strategic M&A with the Company’s common stock as consideration, for the delivery of shares upon the exercise of stock acquisition rights, or for stock compensation using the Company’s common stock for employees of the Group. The repurchase program is valid till July 17, 2024. As of September 30, 2023, the company had 1,628,091,123 shares outstanding (excluding treasury shares) and had 67,868,907 shares in treasury. Valuation Update With 7 Day Price Move • Nov 21
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €30.82, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 15x in the Professional Services industry in Europe. Total loss to shareholders of 15% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €34.72 per share. Buying Opportunity • Nov 11
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 3.8%. The fair value is estimated to be €35.71, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 28%. For the next 3 years, revenue is forecast to grow by 6.0% per annum. Earnings is also forecast to grow by 8.9% per annum over the same time period. Reported Earnings • Nov 09
Second quarter 2024 earnings released: EPS: JP¥73.46 (vs JP¥52.96 in 2Q 2023) Second quarter 2024 results: EPS: JP¥73.46 (up from JP¥52.96 in 2Q 2023). Revenue: JP¥855.1b (down 2.7% from 2Q 2023). Net income: JP¥115.0b (up 35% from 2Q 2023). Profit margin: 14% (up from 9.7% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Professional Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Buying Opportunity • Oct 13
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 5.5%. The fair value is estimated to be €36.10, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 30%. For the next 3 years, revenue is forecast to grow by 5.8% per annum. Earnings is also forecast to grow by 11% per annum over the same time period. Announcement • Oct 05
Recruit Holdings Co., Ltd. (TSE:6098) announces an Equity Buyback for 13,000,000 shares, representing 0.77% for ¥53,924 million. Recruit Holdings Co., Ltd. (TSE:6098) announces a share repurchase program. Under the program, the company will repurchase up to 13,000,000 shares, representing 0.77% of its issued share capital, for ¥53,924million. The shares will be repurchased at a price of ¥4,148 per share. The company intends to utilize its own funds for the offer. The purpose of the program is returning profits to shareholders and to enable the execution of a flexible capital policy that responds to changes in the business environment. The repurchased shares may be used for strategic M&A with the Company’s common stock as consideration, for the delivery of shares upon the exercise of stock acquisition rights, and for stock compensation using the company’s common stock for employees of the Group and its subsidiaries. The offer is valid till October 31, 2023. As of October 2, 2023, the company had 1,695,960,030 issued shares. Buying Opportunity • Sep 28
Now 21% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be €36.21, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 30%. For the next 3 years, revenue is forecast to grow by 5.8% per annum. Earnings is also forecast to grow by 11% per annum over the same time period. Announcement • Sep 27
Recruit Holdings Co., Ltd. to Report Q2, 2024 Results on Nov 08, 2023 Recruit Holdings Co., Ltd. announced that they will report Q2, 2024 results at 3:00 PM, Tokyo Standard Time on Nov 08, 2023 Upcoming Dividend • Sep 21
Upcoming dividend of JP¥11.50 per share at 0.5% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 12 December 2023. Payout ratio is a comfortable 12% and this is well supported by cash flows. Trailing yield: 0.5%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (2.6%). Reported Earnings • Aug 11
First quarter 2024 earnings released: EPS: JP¥62.04 (vs JP¥52.48 in 1Q 2023) First quarter 2024 results: EPS: JP¥62.04 (up from JP¥52.48 in 1Q 2023). Revenue: JP¥850.8b (flat on 1Q 2023). Net income: JP¥98.1b (up 16% from 1Q 2023). Profit margin: 12% (up from 10.0% in 1Q 2023). Revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Professional Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Reported Earnings • Jul 01
Full year 2023 earnings released: EPS: JP¥169 (vs JP¥182 in FY 2022) Full year 2023 results: EPS: JP¥169 (down from JP¥182 in FY 2022). Revenue: JP¥3.43t (up 19% from FY 2022). Net income: JP¥269.8b (down 9.1% from FY 2022). Profit margin: 7.9% (down from 10% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Professional Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Jun 29
Recruit Holdings Co., Ltd. to Report Q1, 2024 Results on Aug 10, 2023 Recruit Holdings Co., Ltd. announced that they will report Q1, 2024 results on Aug 10, 2023 Announcement • May 18
Recruit Holdings Co., Ltd. (TSE:6098) announces an Equity Buyback for 23,000,000 shares, representing 1.36% for ¥76,498 million. Recruit Holdings Co., Ltd. (TSE:6098) announces a share repurchase program. Under the program, the company will repurchase up to 23,000,000 shares, representing 1.36% of its issued share capital, for ¥76,498 million. The shares will be repurchased at a price of ¥3,696 per share. The company has entered into tender offer agreements with Dai Nippon Printing Co., Ltd. to tender 18,300,000 shares for ¥60,865.8 million. The company intends to utilize its own funds for the offer. The purpose of the program is returning profits to shareholders and to enable the execution of a flexible capital policy that responds to changes in the business environment. The repurchased shares may be used for strategic M&A with the Company’s common stock as consideration, for the delivery of shares upon the exercise of stock acquisition rights, and for stock compensation using the company’s common stock for employees of the Group and its subsidiaries. The offer is valid till June 14, 2023. As of May 17, 2023, the company had 1,695,960,030 issued shares. Announcement • May 17
Recruit Holdings Co., Ltd., Annual General Meeting, Jun 26, 2023 Recruit Holdings Co., Ltd., Annual General Meeting, Jun 26, 2023. Reported Earnings • May 17
Full year 2023 earnings released: EPS: JP¥169 (vs JP¥182 in FY 2022) Full year 2023 results: EPS: JP¥169 (down from JP¥182 in FY 2022). Revenue: JP¥3.43t (up 19% from FY 2022). Net income: JP¥269.8b (down 9.1% from FY 2022). Profit margin: 7.9% (down from 10% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Professional Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥11.00 per share at 0.6% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 22 June 2023. Payout ratio is a comfortable 12% and this is well supported by cash flows. Trailing yield: 0.6%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (2.7%). Reported Earnings • Feb 14
Third quarter 2023 earnings released: EPS: JP¥48.60 (vs JP¥50.95 in 3Q 2022) Third quarter 2023 results: EPS: JP¥48.60 (down from JP¥50.95 in 3Q 2022). Revenue: JP¥880.1b (up 18% from 3Q 2022). Net income: JP¥77.9b (down 6.4% from 3Q 2022). Profit margin: 8.8% (down from 11% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Professional Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Announcement • Dec 23
Recruit Holdings Co., Ltd. to Report Q3, 2023 Results on Feb 13, 2023 Recruit Holdings Co., Ltd. announced that they will report Q3, 2023 results on Feb 13, 2023 Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: JP¥52.96 (vs JP¥53.42 in 2Q 2022) Second quarter 2023 results: EPS: JP¥52.96 (down from JP¥53.42 in 2Q 2022). Revenue: JP¥878.5b (up 25% from 2Q 2022). Net income: JP¥85.3b (down 2.3% from 2Q 2022). Profit margin: 9.7% (down from 13% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.3% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Professional Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Board Change • Nov 16
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Outside Director Keiko Honda was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥11.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 12 December 2022. Payout ratio is a comfortable 11% and this is well supported by cash flows. Trailing yield: 0.5%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (2.8%). Reported Earnings • Aug 14
First quarter 2023 earnings released: EPS: JP¥52.48 (vs JP¥47.64 in 1Q 2022) First quarter 2023 results: EPS: JP¥52.48 (up from JP¥47.64 in 1Q 2022). Revenue: JP¥843.2b (up 27% from 1Q 2022). Net income: JP¥84.5b (up 8.5% from 1Q 2022). Profit margin: 10.0% (down from 12% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 11%, compared to a 8.2% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jun 26
Full year 2022 earnings released Full year 2022 results: Revenue: JP¥2.87t (up 27% from FY 2021). Net income: JP¥296.8b (up 126% from FY 2021). Profit margin: 10% (up from 5.8% in FY 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 12%, compared to a 9.7% growth forecast for the industry in Germany. Valuation Update With 7 Day Price Move • Jun 18
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €25.83, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 15x in the Professional Services industry in Europe. Total loss to shareholders of 6.6% over the past three years. Reported Earnings • May 18
Full year 2022 earnings released: EPS: JP¥182 (vs JP¥79.83 in FY 2021) Full year 2022 results: EPS: JP¥182 (up from JP¥79.83 in FY 2021). Revenue: JP¥2.87t (up 27% from FY 2021). Net income: JP¥296.8b (up 126% from FY 2021). Profit margin: 10% (up from 5.8% in FY 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 7.7%, compared to a 11% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Outside Director Naoki Izumiya was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥10.50 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 18 June 2022. Payout ratio is a comfortable 13% and this is well supported by cash flows. Trailing yield: 0.4%. Lower than top quartile of German dividend payers (3.6%). Lower than average of industry peers (2.3%). Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment improved over the past week After last week's 16% share price gain to €41.40, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 18x in the Professional Services industry in Europe. Total returns to shareholders of 74% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €59.71 per share. Valuation Update With 7 Day Price Move • Feb 21
Investor sentiment deteriorated over the past week After last week's 20% share price decline to €35.35, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 22x in the Professional Services industry in Europe. Total returns to shareholders of 44% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €57.98 per share. Reported Earnings • Feb 16
Third quarter 2022 earnings: EPS in line with analyst expectations despite revenue beat Third quarter 2022 results: EPS: JP¥50.95 (up from JP¥33.39 in 3Q 2021). Revenue: JP¥746.1b (up 22% from 3Q 2021). Net income: JP¥83.3b (up 51% from 3Q 2021). Profit margin: 11% (up from 9.0% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 5.1%. Over the next year, revenue is forecast to grow 8.1%, compared to a 9.5% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment deteriorated over the past week After last week's 15% share price decline to €38.83, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 22x in the Professional Services industry in Europe. Total returns to shareholders of 73% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €56.50 per share. Reported Earnings • Nov 16
Second quarter 2022 earnings released: EPS JP¥53.42 (vs JP¥24.38 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥701.2b (up 23% from 2Q 2021). Net income: JP¥87.3b (up 117% from 2Q 2021). Profit margin: 13% (up from 7.1% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 41% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥10.50 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 10 December 2021. Trailing yield: 0.3%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (1.8%). Reported Earnings • Aug 13
First quarter 2022 earnings released: EPS JP¥47.64 (vs JP¥13.54 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥664.7b (up 40% from 1Q 2021). Net income: JP¥77.9b (up 249% from 1Q 2021). Profit margin: 12% (up from 4.7% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 24% per year, which means it is well ahead of earnings. Announcement • Aug 12
Recruit Holdings Co., Ltd. Revises Earnings Guidance for the Fiscal Year Ending March 31, 2021 Recruit Holdings Co., Ltd. revised earnings guidance for the fiscal year ending March 31, 2021. For the year, the company expects revenue of JPY 2,600,000 million - JPY 2,700,000 million against previous guidance of JPY 2,450,000 million - JPY 2,600,000 million, operating income of JPY 270,000 million - JPY 340,000 million against previous guidance of JPY 180,000 million - JPY 245,000 million, profit for the period of JPY 200,000 million - JPY 250,000 million against previous guidance of JPY 140,000 million - JPY 190,000 million. Reported Earnings • May 22
Full year 2021 earnings released: EPS JP¥79.83 (vs JP¥108 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: JP¥2.27t (down 5.4% from FY 2020). Net income: JP¥131.4b (down 27% from FY 2020). Profit margin: 5.8% (down from 7.5% in FY 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 20% per year, which means it is well ahead of earnings. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥9.50 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 23 June 2021. Trailing yield: 0.4%. Lower than top quartile of German dividend payers (3.3%). Lower than average of industry peers (2.1%). Is New 90 Day High Low • Feb 25
New 90-day high: €42.20 The company is up 18% from its price of €35.80 on 27 November 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Professional Services industry, which is up 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €26.49 per share. Reported Earnings • Feb 17
Third quarter 2021 earnings released: EPS JP¥33.40 (vs JP¥31.65 in 3Q 2020) The company reported a solid third quarter result with improved earnings and profit margins, although revenues were flat. Third quarter 2021 results: Revenue: JP¥611.6b (flat on 3Q 2020). Net income: JP¥55.1b (up 5.1% from 3Q 2020). Profit margin: 9.0% (up from 8.6% in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 28% per year, which means it is well ahead of earnings. Analyst Estimate Surprise Post Earnings • Feb 17
Revenue beats expectations Revenue exceeded analyst estimates by 11%. Over the next year, revenue is forecast to grow 3.4%, compared to a 5.9% growth forecast for the Professional Services industry in Germany. Announcement • Feb 16
Recruit Holdings Co., Ltd. Announces Executive Changes Recruit Holdings Co., Ltd. has announced a new leadership structure. Hisayuki Idekoba, CEO from April 1, will also become the Head of the Corporate Planning Division. In this role, he will lead and execute strategic actions to support mid- to long-term group strategies while building the trust and support from shareholders and various stakeholders. In addition, Ayano Senaha, who will be appointed to the role of COO, will read the administrative functions and strengthen group's corporate governance. Is New 90 Day High Low • Feb 10
New 90-day high: €38.60 The company is up 4.0% from its price of €37.00 on 11 November 2020. The German market is up 11% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Professional Services industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €24.36 per share. Announcement • Dec 27
Recruit Holdings Co., Ltd. to Report Q3, 2021 Results on Feb 15, 2021 Recruit Holdings Co., Ltd. announced that they will report Q3, 2021 results on Feb 15, 2021 Is New 90 Day High Low • Dec 08
New 90-day low: €31.60 The company is down 1.0% from its price of €31.80 on 09 September 2020. The German market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Professional Services industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €21.58 per share. Announcement • Sep 25
Recruit Holdings Co., Ltd. to Report Q2, 2021 Results on Nov 16, 2020 Recruit Holdings Co., Ltd. announced that they will report Q2, 2021 results on Nov 16, 2020 Announcement • Aug 27
Recruit Holdings Co., Ltd. Provides Earnings Guidance for the Year 2020 Due to the uncertainty and rapidly evolving conditions around the world, Recruit Holdings Co., Ltd. is unable at this time to reliably predict the impact that the global spread of novel coronavirus (COVID-19) will have on its financial year 2020 financial performance. As a result, the Company is not providing consolidated financial guidance for FY2020 at this time. However, based on the broad impact on business performance since early March, the company currently expects that the global spread of COVID-19 will continue to have a significant adverse impact on financial performance in second quarter of 2020 and beyond. Announcement • Jun 28
Recruit Holdings Co., Ltd. to Report Q1, 2021 Results on Aug 26, 2020 Recruit Holdings Co., Ltd. announced that they will report Q1, 2021 results on Aug 26, 2020 
