Recruit Holdings Co., Ltd. (TSE 6098)
Consolidated Financial Results for Q1 FY2026
August 7, 2026
Recruit Holdings Co., Ltd. (TSE 6098)
Consolidated Financial Results for the Three Months Ended June 30, 2026 (IFRS)
Tokyo, August 7, 2026 ― Recruit Holdings Co., Ltd. announced today its consolidated financial results for the three months ended June
30, 2026 (April 1, 2026 to June 30, 2026)
Consolidated Operating Results
  
Three Months Ended June 30,
  
% change
(In billions of yen, unless otherwise stated)
2025
2026
Revenue
878.8
1,045.3
18.9%
EBITDA+S
187.1
292.8
56.5%
Operating income
153.7
255.4
  
66.1%
Profit before tax
158.9
263.5
65.8%
Profit for the period
120.9
202.5
67.5%
Profit attributable to owners of the parent
120.9
202.6
67.5%
Total comprehensive income
90.8
231.7
  
155.0%
Basic EPS (yen)
  
83.97
145.48
73.2%
Diluted EPS (yen)
83.24
144.56
73.7%
EBITDA+S = operating income + depreciation and amortization (excluding depreciation of right-of-use assets) + share-based payment
expenses ± other operating income/expenses
Consolidated Financial Position
(In billions of yen, unless otherwise stated)
As of March 31, 2026
As of June 30, 2026
Total assets
2,789.0
2,909.6
Total equity
1,594.5
1,787.7
Equity attributable to owners of the parent
1,583.3
1,774.6
Ratio of equity attributable to owners of the parent (%)
56.8
61.0
Dividends
FY2025
FY2026
FY2026 (Guidance)
-
-
-
12.50
-
13.00
-
-
-
12.50
-
13.00
25.00
-
26.00
Consolidated Financial Guidance for FY2026
The Company has revised the financial guidance for FY2026 from the figures announced on May 15, 2026 as below.
(In billions of yen, unless otherwise stated)
FY2026 Full-year
Guidance
% change
Revenue
4,230.0
14.4%
Gross Profit
2,595.0
18.6%
EBITDA+S
1,105.0
39.1%
Operating income
945.0
49.9%
Profit attributable to owners of the parent
755.0
51.9%
Basic EPS (yen)
543.00
55.2%
Please refer to page 5, Qualitative Information on Consolidated Financial Guidance for more details.
1
Recruit Holdings Co., Ltd. (TSE 6098)
Consolidated Financial Results for Q1 FY2026
Changes in Significant Subsidiaries Resulting from Change in Scope of Consolidation
There were no changes in significant subsidiaries resulting from changes in the scope of consolidation.
Changes in Accounting Policies and Changes in Accounting Estimates
There has been no change in: (1) accounting policies required by IFRS, (2) accounting policies other than the foregoing item (1), and (3)
accounting estimates.
Number of Issued Shares - Common Stock
As of March 31, 2026
As of June 30, 2026
Number of issued shares including treasury stock
1,472,504,149
1,472,504,149
Number of treasury stock
1
76,290,824
80,332,780
Three Months Ended
June 30, 2025
Three Months Ended
June 30, 2026
Average number of shares during the period
1,440,158,326
1,392,734,530
1 The number of treasury stock 80,332,780 as of June 30, 2026 includes treasury stock held by the Company (35,531,650 shares) and
the Company’s stock held in the trust account of the Board Incentive Plan (“BIP”) trust and the Employee Stock Ownership Plan
(“ESOP”) trust (44,801,130 shares).
Definition of the Abbreviation
Abbreviation
Definition
Recruit Holdings, the Holding Company
Recruit Holdings Co., Ltd. on a standalone basis
the Company, Recruit Group, We, Our
Recruit Holdings Co., Ltd. and its consolidated subsidiaries
Q1
Three-month period from April 1 to June 30
FY2025
Fiscal year from April 1, 2025 to March 31, 2026
FY2026
Fiscal year from April 1, 2026 to March 31, 2027
Supplementary Information
All comparisons in this report are year over year unless otherwise stated.
Average Exchange Rate during the Period
FY2025
FY2026
(In yen)
Q1
Q2
Q3
Q4
Q1
US dollar
144.48
147.47
154.07
156.92
159.38
Euro
163.91
172.38
179.36
183.61
185.27
Australian dollar
92.57
96.48
101.16
108.96
113.06
2
Recruit Holdings Co., Ltd. (TSE 6098)
Consolidated Financial Results for Q1 FY2026
The Japanese-language originals of the attached consolidated quarterly financial statements have been voluntarily reviewed
by certified public accountants or an audit firm.
Forward-Looking Statements
This document contains forward-looking statements, which reflect the Company's assumptions and outlook for the future and
estimates based on information available to the Company and the Company's plans and expectations as of the date of this document
or other date indicated. There can be no assurance that the relevant forecasts and other forward-looking statements will be achieved.
Please note that significant differences between the forecasts and other forward-looking statements and actual results may arise due
to various factors, many of which are outside the Company’s control, including changes in economic conditions, changes in individual
users’ preferences and business clients' needs, competition, changes in the legal and regulatory environment including changes in
laws and regulations or guidance, interpretation, enforcement or practice relating to laws and regulations, fluctuations in foreign
exchange rates, climate change or other changes in the natural environment, the occurrence of large-scale natural disasters, and other
factors. Accordingly, readers are cautioned against placing undue reliance on any such forward-looking statements. The Company has
no obligation to update or revise any information contained in this document based on any subsequent developments except as
required by applicable law or stock exchange rules and regulations.
Note Regarding Reference Translation
This document has been translated from the Japanese language original for reference purposes only and may not be used or
disclosed for any other purpose without the Company’s prior written consent. In the event of any conflict or discrepancy between this
translated document and the Japanese language original, the Japanese language original shall prevail in all respects. The Company
makes no representations regarding the accuracy or completeness of this translation and assumes no responsibility for any losses or
damages arising from the use of this translation.
Third-Party Information
This document includes information derived from or based on third-party sources, including information about the markets in which we
operate. These statements are based on statistics and other information from third-party sources as cited herein, and the Company
has not independently verified and cannot assure the accuracy or completeness of any information derived from or based on
third-party sources.
U.S. Disclaimer – Unsponsored American Depositary Receipt (“ADR“)
The Company does not support or encourage, and has not consented to, the creation of any unsponsored ADR facilities in respect of
its securities and in any event disclaims any liability in connection with an unsponsored ADR. The Company does not represent to any
depositary institution, bank or anyone nor should any such entity rely on a belief that the Web site of the Company includes all
published information in English, currently, and on an ongoing basis, required to claim an exemption under U.S. Exchange Act Rule
12g3-2(b).
A full set of materials regarding Q1 FY2026 results announcement is posted on https://recruit-holdings.com/en/ir/financials/
Contact
Investor Relations
+81-3-3511-6383
Recruit_HD_IR@r.recruit.co.jp
3
Recruit Holdings Co., Ltd. (TSE 6098)
Consolidated Financial Results for Q1 FY2026
Table of Contents
1.
Management’s Discussion and Analysis
4
2.
Qualitative Information on Consolidated Financial Guidance
5
3.
Condensed Quarterly Consolidated Financial Statements and Primary Notes
7
Condensed Quarterly Consolidated Statements of Financial Position
7
Condensed Quarterly Consolidated Statements of Profit or Loss
8
Condensed Quarterly Consolidated Statements of Comprehensive Income
9
Condensed Quarterly Consolidated Statements of Changes in Equity
10
Condensed Quarterly Consolidated Statements of Cash Flows
12
Notes to Condensed Quarterly Consolidated Financial Statements
13
Independent Auditor’s Report on the Interim Review of Quarterly Consolidated Financial Statements
16
1. Management’s Discussion and Analysis
For Q1 FY2026 results, please refer to TDnet or “FY2026 Q1 Consolidated Results” on the Company’s IR website disclosed at 3:30
pm JST on August 7, 2026.
https://recruit-holdings.com/en/ir/
There are no significant matters regarding Analysis of Consolidated Financial Position.
4
Recruit Holdings Co., Ltd. (TSE 6098)
Consolidated Financial Results for Q1 FY2026
2. Qualitative Information on Consolidated Financial Guidance
Based on the Q1 FY2026 results and the outlook for Q2 FY2026 and onward for HR Technology significantly exceeding the
Company’s prior assumptions, the Company has revised the segment outlook and the full-year consolidated financial guidance for
FY2026 announced on May 15, 2026.
Staffing progressed largely in line with the full-year outlook for FY2026 announced on May 15, 2026; therefore, the Company has
made only minor adjustments to the segment outlook.
Marketing Matching Technologies has no changes to the full-year outlook for FY2026 announced on May 15, 2026.
The foreign exchange rate assumptions for FY2026 are 159 yen per US dollar, 184 yen per Euro and 112 yen per Australian dollar,
revised from the assumptions announced on May 15, 2026.
The total amount of share-based payment expenses for consolidated financial results for FY2026 is expected to be 78.9 billion yen,
and the total amount of share-based payment expenses for HR Technology is expected to be approximately 470 million US dollars,
revised from the outlook announced on May 15, 2026.
Staffing in Japan was subject to an on-site inspection by the Japan Fair Trade Commission in June 2026 in connection with suspected
violations of the Antimonopoly Act. As the Company is currently cooperating with the inspection, it is difficult to reasonably estimate the
financial impact at this time. Accordingly, this guidance does not reflect any such impact.
Consolidated Guidance
REVISED
FY2026 Guidance (as of August 2026)
FY2026 Guidance (as of May 2026)
( In billions of yen)
% change
% change
Revenue
4,230.0
14.4%
4,030.0
9.0%
Gross Profit
2,595.0
18.6%
2,424.0
10.8%
EBITDA+S
1,105.0
39.1%
949.0
19.5%
Operating income
945.0
49.9%
787.0
24.8%
Profit attributable to owners of the parent
755.0
51.9%
623.0
25.4%
Basic EPS (yen)
543.00
55.2%
447.00
27.8%
HR Technology
REVISED
FY2026 Outlook (as of August 2026)
FY2026 Outlook (as of May 2026)
( In billions of yen, unless otherwise stated)
% change
% change
Revenue (in millions of US dollars)
US
6,650
25.1%
6,035
13.6%
Europe and Others
2,520
23.2%
2,395
17.1%
Japan
2,315
0.0%
2,308
-0.2%
Total
11,485
18.7%
10,738
11.0%
Revenue (in billions of yen)
US
1,055.0
31.6%
929.3
15.9%
Europe and Others
400.0
29.6%
368.8
19.5%
Japan
367.0
5.4%
355.5
2.1%
Total
1,822.0
24.9%
1,653.7
13.4%
EBITDA+S
834.0
51.6%
677.4
23.2%
EBITDA+S margin
45.8%
-
41.0%
-
Staffing
REVISED
FY2026 Outlook (as of August 2026)
FY2026 Outlook (as of May 2026)
( In billions of yen)
% change
% change
Revenue
Japan
873.0
3.1%
873.0
3.1%
Europe, US, and Australia
958.0
11.8%
929.5
8.5%
Total
1,831.0
7.5%
1,802.5
5.8%
EBITDA+S
102.5
2.8%
100.5
0.8%
EBITDA+S margin
5.6%
-
5.6%
-
5
Recruit Holdings Co., Ltd. (TSE 6098)
Consolidated Financial Results for Q1 FY2026
Marketing Matching Technologies
There is no change to the full-year outlook for FY2026 for Marketing Matching Technologies announced on May 15, 2026.
(In billions of yen)
FY2026 Outlook (as of August 2026)
% change
Revenue
605.0
7.1%
EBITDA+S
181.5
17.1%
EBITDA+S margin
30.0%
-
6
Recruit Holdings Co., Ltd. (TSE 6098)
Consolidated Financial Results for Q1 FY2026
3. Condensed Quarterly Consolidated Financial Statements and Primary Notes
Condensed Quarterly Consolidated Statements of Financial Position
(In millions of yen)
As of March 31, 2026
As of June 30, 2026
Assets
Current assets
Cash and cash equivalents
725,578
853,046
Trade and other receivables
639,268
636,475
Other financial assets
75,697
79,326
Other assets
114,627
118,179
Total current assets
1,555,172
1,687,027
Non-current assets
Property and equipment
57,178
55,095
Right-of-use assets
135,188
127,481
Goodwill
553,304
561,500
Intangible assets
163,291
161,289
Investments in associates and
joint ventures
2,372
2,013
Other financial assets
135,323
140,242
Deferred tax assets
173,174
162,094
Other assets
14,011
12,899
Total non-current assets
1,233,845
1,222,616
Total assets
2,789,018
2,909,644
(In millions of yen)
As of March 31, 2026
As of June 30, 2026
Liabilities and equity
Liabilities
Current liabilities
Trade and other payables
425,541
385,974
Lease liabilities
44,020
45,031
Other financial liabilities
1,868
6,108
Income tax payables
66,472
56,293
Provisions
20,091
12,103
Other liabilities
317,320
301,959
Total current liabilities
875,314
807,471
Non-current liabilities
Borrowings
645
658
Lease liabilities
141,610
133,138
Other financial liabilities
583
568
Provisions
19,554
19,829
Net liability for retirement benefits
62,716
60,004
Deferred tax liabilities
85,559
91,413
Other liabilities
8,474
8,852
Total non-current liabilities
319,145
314,466
Total liabilities
1,194,459
1,121,937
Equity
Equity attributable to owners of the
parent
Common stock
40,000
40,000
Share premium
-
7,564
Retained earnings
1,371,067
1,555,611
Treasury stock
(414,455)
(454,980)
Other components of equity
586,709
626,486
Total equity attributable to owners of
the parent
1,583,321
1,774,682
Non-controlling interests
11,236
13,024
Total equity
1,594,558
1,787,707
Total liabilities and equity
2,789,018
2,909,644
7
Recruit Holdings Co., Ltd. (TSE 6098)
Consolidated Financial Results for Q1 FY2026
Condensed Quarterly Consolidated Statements of Profit or Loss
Three Months Ended June 30,
(In millions of yen, unless otherwise stated)
2025
2026
Revenue
878,839
1,045,350
Cost of sales
356,983
401,822
Gross profit
521,856
643,527
Selling, general and administrative expenses
375,100
389,173
Other operating income
8,558
3,835
Other operating expenses
1,579
2,776
Operating income
153,734
255,413
Share of profit (loss) of associates and joint
ventures
(1,956)
61
Finance income
8,785
9,667
Finance costs
1,617
1,606
Profit before tax
158,946
263,535
Income tax expense
38,035
61,008
Profit for the period
120,910
202,527
Profit attributable to:
Owners of the parent
120,936
202,618
Non-controlling interests
(25)
(91)
Profit for the period
120,910
202,527
Earnings per share attributable to owners of
the parent
Basic earnings per share (yen)
83.97
145.48
Diluted earnings per share (yen)
83.24
144.56
8
Recruit Holdings Co., Ltd. (TSE 6098)
Consolidated Financial Results for Q1 FY2026
Condensed Quarterly Consolidated Statements of Comprehensive Income
Three Months Ended June 30,
(In millions of yen)
2025
2026
Profit for the period
120,910
202,527
Other comprehensive income
Items that will not be reclassified to profit or loss:
Net change in equity instruments measured at
fair value through other comprehensive
income
3,665
(614)
Remeasurements of defined retirement benefit
plans
-
-
Share of other comprehensive income of
associates and joint ventures
(422)
-
Subtotal
3,242
(614)
Items that may be reclassified subsequently to
profit or loss:
Exchange differences on translation of foreign
operations
(33,264)
29,887
Effective portion of changes in fair value of
cash flow hedges
11
1
Net change in debt instruments measured at
fair value through other comprehensive
income
(6)
(12)
Subtotal
(33,259)
29,876
Other comprehensive income (loss) for the period,
net of tax
(30,016)
29,262
Comprehensive income for the period
90,894
231,789
Comprehensive income attributable to:
Owners of the parent
90,996
231,866
Non-controlling interests
(101)
(77)
Comprehensive income for the period
90,894
231,789
9
Recruit Holdings Co., Ltd. (TSE 6098)
Consolidated Financial Results for Q1 FY2026
Condensed Quarterly Consolidated Statements of Changes in Equity
For the Three Months Ended June 30, 2025
(In millions of yen)
Equity attributable to owners of the parent
Common
stock
Share
premium
Retained
earnings
Treasury
stock
Other components of equity
Share-based
payments
Exchange
differences
on
translation
of foreign
operations
Effective
portion of
changes in
fair value of
cash flow
hedges
Balance as of April 1, 2025
40,000
-
1,606,348
(515,363)
98,619
387,986
-
Profit (loss) for the period
120,936
Other comprehensive
income
(33,227)
11
Comprehensive income for
the period
-
-
120,936
-
-
(33,227)
11
Purchase of treasury
stock
(193)
(325,831)
Disposal of treasury stock
5,400
14,941
(18,880)
Dividends
(17,600)
Share-based payments
27,567
Equity transactions with
non-controlling interests
Transfer from other
components of equity to
retained earnings
3,281
Transfer to non-financial
assets
(7)
Transactions with owners -
total
-
5,206
(14,318)
(310,890)
8,686
-
(7)
Balance as of June 30, 2025
40,000
5,206
1,712,967
(826,253)
107,305
354,759
4
10
(In millions of yen)
Equity attributable to owners of the parent
Non-controlli
ng interests
Total equity
Other components of equity
Total
Net change
in debt
instruments
measured at
fair value
through
other
comprehens
ive income
Net change
in equity
instruments
measured
at fair value
through
other
comprehen
sive
income
Remeasure-
ments of
defined
retirement
benefit plans
Total
Balance as of April 1,
2025
(9)
-
-
486,596
1,617,582
9,777
1,627,360
Profit (loss) for the
period
-
120,936
(25)
120,910
Other comprehensive
income
(6)
3,281
-
(29,940)
(29,940)
(75)
(30,016)
Comprehensive income
for the period
(6)
3,281
-
(29,940)
90,996
(101)
90,894
Purchase of treasury
stock
-
(326,025)
(326,025)
Disposal of treasury
stock
(18,880)
1,460
1,460
Dividends
-
(17,600)
(17,600)
Share-based
payments
27,567
27,567
27,567
Equity transactions
with non-controlling
interests
-
-
1,682
1,682
Transfer from other
components of equity
to retained earnings
(3,281)
(3,281)
-
-
Transfer to
non-financial assets
(7)
(7)
(7)
Transactions with owners
- total
-
(3,281)
-
5,397
(314,605)
1,682
(312,922)
Balance as of June 30,
2025
(15)
-
-
462,053
1,393,973
11,358
1,405,331
Recruit Holdings Co., Ltd. (TSE 6098)
Consolidated Financial Results for Q1 FY2026
For the Three Months Ended June 30, 2026
(In millions of yen)
Equity attributable to owners of the parent
Common
stock
Share
premium
Retained
earnings
Treasury
stock
Other components of equity
Share-based
payments
Exchange
differences
on
translation
of foreign
operations
Effective
portion of
changes in
fair value of
cash flow
hedges
Balance as of April 1, 2026
40,000
-
1,371,067
(414,455)
77,854
508,883
-
Profit (loss) for the period
202,618
Other comprehensive
income
29,881
1
Comprehensive income for the
period
-
-
202,618
-
-
29,881
1
Purchase of treasury stock
(0)
(54,501)
Disposal of treasury stock
7,565
13,976
(19,327)
Dividends
(17,452)
Share-based payments
29,234
Equity transactions with
non-controlling interests
Changes due to loss of
control of subsidiaries
Transfer from other
components of equity to
retained earnings
(622)
Transfer to non-financial
assets
(1)
Transactions with owners -
total
-
7,564
(18,074)
(40,524)
9,907
-
(1)
Balance as of June 30, 2026
40,000
7,564
1,555,611
(454,980)
87,761
538,764
-
11
(In millions of yen)
Equity attributable to owners of the parent
Non-controllin
g interests
Total equity
Other components of equity
Total
Net change
in debt
instruments
measured at
fair value
through other
comprehensi
ve income
Net change
in equity
instruments
measured at
fair value
through
other
comprehens
ive income
Remeasure-
ments of
defined
retirement
benefit
plans
Total
Balance as of April 1, 2026
(27)
-
-
586,709
1,583,321
11,236
1,594,558
Profit (loss) for the
period
-
202,618
(91)
202,527
Other comprehensive
income
(12)
(622)
-
29,248
29,248
14
29,262
Comprehensive income for
the period
(12)
(622)
-
29,248
231,866
(77)
231,789
Purchase of treasury
stock
-
(54,501)
(54,501)
Disposal of treasury
stock
(19,327)
2,214
2,214
Dividends
-
(17,452)
(17,452)
Share-based payments
29,234
29,234
29,234
Equity transactions with
non-controlling interests
-
-
1,969
1,969
Changes due to loss of
control of subsidiaries
-
-
(104)
(104)
Transfer from other
components of equity to
retained earnings
622
622
-
-
Transfer to
non-financial assets
(1)
(1)
(1)
Transactions with owners -
total
-
622
-
10,528
(40,505)
1,865
(38,640)
Balance as of June 30,
2026
(40)
-
-
626,486
1,774,682
13,024
1,787,707
Recruit Holdings Co., Ltd. (TSE 6098)
Consolidated Financial Results for Q1 FY2026
Condensed Quarterly Consolidated Statements of Cash Flows
Three Months Ended June 30,
(In millions of yen)
2025
2026
Cash flows from operating activities
Profit before tax
158,946
263,535
Depreciation and amortization
25,930
26,835
Share-based payment expenses
23,648
20,540
Interest and dividend income
(4,606)
(7,568)
(Increase) decrease in trade and other receivables
325
11,564
Increase (decrease) in trade and other payables
(23,795)
(41,668)
Other
(23,922)
(37,377)
Subtotal
156,525
235,861
Interest and dividends received
5,107
7,395
Interest paid
(1,587)
(1,536)
Income taxes paid
(37,507)
(38,061)
Net cash provided by operating activities
122,538
203,657
Cash flows from investing activities
Payment for purchase of property and equipment
(2,941)
(1,779)
Payment for purchase of intangible assets
(13,836)
(13,119)
Payment for purchase of investments
(38,480)
(28,924)
Proceeds from sale and redemption of investments
3,813
12,452
Other
9,789
(2,087)
Net cash used in investing activities
(41,655)
(33,457)
Cash flows from financing activities
Repayments of lease liabilities
(10,097)
(10,660)
Payment for purchase of treasury stock
(326,110)
(54,501)
Dividends paid
(17,473)
(17,331)
Proceeds from settlement of derivatives
2,773
7,574
Other
3,202
5,195
Net cash used in financing activities
(347,705)
(69,723)
Effect of exchange rate changes on cash and cash
equivalents
(32,082)
26,990
Net increase (decrease) in cash and cash equivalents
(298,903)
127,467
Cash and cash equivalents at the beginning of the period
808,625
725,578
Cash and cash equivalents at the end of the period
509,721
853,046
12
Recruit Holdings Co., Ltd. (TSE 6098)
Consolidated Financial Results for Q1 FY2026
Notes to Condensed Quarterly Consolidated Financial Statements
1. Applicable Financial Reporting Framework
The Company’s condensed quarterly consolidated financial statements (condensed quarterly consolidated statements of financial
position, condensed quarterly consolidated statements of profit or loss, condensed quarterly consolidated statements of
comprehensive income, condensed quarterly consolidated statements of changes in equity, condensed quarterly consolidated
statements of cash flows, and notes) are prepared in accordance with Article 5, Paragraph 2 of Tokyo Stock Exchange, Inc.’s
standards for the preparation of quarterly financial statements, etc. (however, the omissions set out in Article 5, Paragraph 5 of the
same standards apply). The condensed quarterly consolidated financial statements are prepared based on International Accounting
Standard No. 34 “Interim Financial Reporting” (hereinafter “IAS 34”), but some of the disclosure items and notes required by IAS 34
are omitted. Accordingly, the condensed quarterly consolidated financial statements are not a set of condensed financial statements in
accordance with IAS 34.
2. Going Concern Assumption
Not applicable.
3. Operating Segments
(1) Overview of Reportable Segments
The Company’s operating segments are components of the Company for which discrete financial information is available and whose
operating results are reviewed regularly by the Board of Directors to decide on the allocation of operating resources and assess
business performance. The Company has three operating segments by type of business, HR Technology, Staffing, and Marketing
Matching Technologies, which are also the reportable segments.
HR Technology consists of three operations, the US , Europe and Others , and Japan . Staffing consists of two operations, Japan and
Europe , US and Australia . Marketing Matching Technologies consists of three operations, Lifestyle, Housing & Real Estate, and
Others.
(2) Information on Reportable Segments
Segment profit (loss) denotes EBITDA+S (operating income + depreciation and amortization (excluding depreciation of right-of-use
assets) + share-based payment expenses ± other operating income/expenses).
Revenue from external customers in Adjustments includes revenue that is not allocated to a specific reportable segment, and segment
profit (loss) in Adjustments includes corporate expenses not allocated to any reportable segments. Corporate expenses consist
primarily of general and administrative expenses that are not allocable to the segments. Intersegment revenue or transfers are
calculated based on a price used in similar transactions with third parties. Segment assets and liabilities are not stated as they are not
subject to review for the purpose of deciding on the allocation of operating resources and assessing business performance.
13
Recruit Holdings Co., Ltd. (TSE 6098)
Consolidated Financial Results for Q1 FY2026
For the Three Months Ended June 30, 2025
(In millions of yen)
Reportable Segment
Adjustments
Consolidated
HR
Technology
Staffing
Marketing
Matching
Technologies
Total
Revenue
Revenue from
external customers
340,705
401,778
136,355
878,839
-
878,839
Intersegment
revenues or transfers
1,091
6,377
501
7,970
(7,970)
-
Total
341,796
408,156
136,856
886,809
(7,970)
878,839
Segment profit (loss)
119,467
26,879
43,227
189,574
(2,422)
187,151
Depreciation and
amortization (Note)
16,748
Share-based payment
expenses
23,648
Other operating
income
8,558
Other operating
expenses
1,579
Operating income
153,734
Share of profit (loss)
of associates and joint
ventures
(1,956)
Finance income
8,785
Finance costs
1,617
Profit before tax
158,946
Note: Depreciation and amortization exclude depreciation of right-of-use assets.
For the Three Months Ended June 30, 2026
(In millions of yen)
Reportable Segment
Adjustments
Consolidated
HR
Technology
Staffing
Marketing
Matching
Technologies
Total
Revenue
Revenue from
external customers
454,589
449,203
141,558
1,045,350
-
1,045,350
Intersegment
revenues or transfers
855
6,021
336
7,213
(7,213)
-
Total
455,444
455,224
141,894
1,052,564
(7,213)
1,045,350
Segment profit (loss)
215,771
28,290
51,137
295,199
(2,308)
292,891
Depreciation and
amortization (Note)
17,996
Share-based payment
expenses
20,540
Other operating
income
3,835
Other operating
expenses
2,776
Operating income
255,413
Share of profit (loss)
of associates and joint
ventures
61
Finance income
9,667
Finance costs
1,606
Profit before tax
263,535
Note: Depreciation and amortization exclude depreciation of right-of-use assets.
14
Recruit Holdings Co., Ltd. (TSE 6098)
Consolidated Financial Results for Q1 FY2026
4. Treasury Stock
Treasury stock recognized in the Condensed Quarterly Consolidated Statements of Financial Position includes Recruit Holdings
shares held by the BIP trust and the ESOP trust.
The breakdown of treasury stock is as follows:
As of March 31, 2026
As of June 30, 2026
(In millions of yen, unless otherwise stated)
Number of shares
(shares)
Carrying amount
Number of shares
(shares)
Carrying amount
Treasury stock directly held by Recruit
Holdings
28,856,988
228,809
35,531,650
278,167
Recruit Holdings shares held by the BIP trust
and the ESOP trust
47,433,836
185,646
44,801,130
176,812
Total
76,290,824
414,455
80,332,780
454,980
5. Contingencies
On-site Inspection by the Japan Fair Trade Commission
On June 2, 2026, Recruit Staffing Co., Ltd. and Staff Service Co., Ltd., which are subsidiaries within the Japan operations of the
Company’s staffing business, were subject to an on-site inspection by the Japan Fair Trade Commission on suspicion of violating
the Antimonopoly Act. The Company is currently fully cooperating with the authorities for the inspection, and it is difficult to
reasonably estimate its outcome or amount of its impact at this time.
6. Significant Subsequent Events
Share Repurchase
The Company, by resolution of its Board of Directors on March 31, 2026, implemented the following share repurchase program,
pursuant to Article 156 of the Companies Act as applied by replacing certain terms pursuant to Article 165, Paragraph 3 of the said
Act.
(1) Details of common stock repurchased on and after July 1, 2026
(i) Type of shares repurchased
Shares of common stock of Recruit Holdings
(ii) Total number of shares repurchased
5,455,200 shares
(iii) Total purchase price
67,649 million yen
(iv) Acquisition period
From July 1, 2026 to July 31, 2026 (delivery date basis)
(2) Details of the Resolution by the Board of Directors on March 31, 2026
(i) Type of shares to be repurchased
Shares of common stock of Recruit Holdings
(ii) Total number of shares to be
repurchased
64,000,000 shares (Maximum)
(iii) Total purchase price
350,000 million yen (Maximum)
(iv) Repurchase period
From April 1, 2026, to the earlier of the following:
(1) November 30, 2026
(2) The date on which either the “total number of shares to be
repurchased” or the “total purchase price” mentioned above
reaches its maximum.
(v) Method of repurchases
(1) Market purchases on Tokyo Stock Exchange, Inc. through
an appointed securities dealer with transaction discretion
(2) Purchases through Off-Auction Own Share Repurchase
Trading System (ToSTNeT-3)
(3) Status of Repurchase as of July 31, 2026 (Delivery Date Basis)
(i) Type of shares repurchased:
Shares of common stock of Recruit Holdings
(ii) Total number of shares repurchased:
12,518,500 shares
(iii) Total purchase price:
120,047 million yen
15
Recruit Holdings Co., Ltd. (TSE 6098)
Consolidated Financial Results for Q1 FY2026
(English Translation)
Independent Auditor’s Report on the Interim Review of Quarterly Consolidated Financial Statements
August 7, 2026
The Board of Directors
Recruit Holdings Co., Ltd.
Ernst & Young ShinNihon LLC
Tokyo, Japan
Hitoshi Matsuoka
Certified Public Accountant
Designated and Engagement Partner
Takeshi Saida
Certified Public Accountant
Designated and Engagement Partner
Ryuichiro Umano
Certified Public Accountant
Designated and Engagement Partner
Masashi Motohashi
Certified Public Accountant
Designated and Engagement Partner
Conclusion
We have conducted an interim review of Recruit Holdings Co., Ltd.’s condensed quarterly consolidated financial statements for the first
quarter (April 1, 2026 to June 30, 2026) and first three months (April 1, 2026 to June 30, 2026) of the consolidated fiscal year from
April 1, 2026 to March 31, 2027, listed in the “Attachments” to the quarterly financial results, which comprise the condensed quarterly
consolidated statements of financial position, condensed quarterly consolidated statements of profit or loss, condensed quarterly
consolidated statements of comprehensive income, condensed quarterly consolidated statements of changes in equity, condensed
quarterly consolidated statements of cash flows, and notes to condensed quarterly consolidated financial statements.
As a result of conducting our interim review, there were no matters that cause us to believe that the condensed quarterly consolidated
financial statements referred to above have not been prepared in accordance with Article 5, Paragraph 2 of the Tokyo Stock
Exchange’s Standards Used for Preparation of Quarterly Financial Statements, etc. (however, the omission of the description
prescribed in Article 5, Paragraph 5 of the Standards Used for Preparation of Quarterly Financial Statements, etc., has been applied),
in all material respects.
Basis for the Conclusion
We conducted our interim review in accordance with interim review standards generally accepted in Japan. Our responsibility under
the interim review standards is stated in the “Auditor’s Responsibility for the Interim Review of the Condensed Quarterly Consolidated
Financial Statements.” We are independent of the Company and its consolidated subsidiaries in accordance with the provisions
related to professional ethics in Japan (including provisions applicable to the financial statement audits of public interest entities (PIE)),
and are fulfilling other ethical responsibilities as an auditor. We believe that we have obtained sufficient and appropriate evidence to
provide a basis for our conclusion.
Responsibilities of Management, Audit and Supervisory Board Members and Audit and Supervisory Board for the Condensed
Quarterly Consolidated Financial Statements
Management is responsible for the preparation of condensed quarterly financial statements in accordance with Article 5, Paragraph 2
of the Tokyo Stock Exchange’s Standards Used for Preparation of Quarterly Financial Statements, etc. (however, the omission of the
description prescribed in Article 5, Paragraph 5 of the Standards Used for Preparation of Quarterly Financial Statements, etc., has
been applied), and for designing and operating such internal control as management determines is necessary to enable the
preparation of the condensed quarterly consolidated financial statements that are free from material misstatement, whether due to
fraud or error.
In preparing the condensed quarterly consolidated financial statements, management is responsible for assessing whether it is
appropriate to prepare the condensed quarterly consolidated financial statements in accordance with the premise of a going concern,
and for disclosing matters relating to going concern when it is required to do so in accordance with Article 5, Paragraph 2 of the Tokyo
Stock Exchange’s Standards Used for Preparation of Quarterly Financial Statements, etc. (however, the omission of the description
prescribed in Article 5, Paragraph 5 of the Standards Used for Preparation of Quarterly Financial Statements, etc., has been applied).
Audit and Supervisory Board members and Audit and Supervisory Board are responsible for monitoring the execution of Directors’
duties related to designing and operating the financial reporting process.
16
Recruit Holdings Co., Ltd. (TSE 6098)
Consolidated Financial Results for Q1 FY2026
Auditor’s Responsibilities for the Interim Review of the Condensed Quarterly Consolidated Financial Statements
Our responsibility is to give a conclusion on the condensed quarterly consolidated financial statements from an independent
standpoint in an interim review report based on our interim review.
As part of an interim review in accordance with interim review standards generally accepted in Japan, we exercise professional
judgment and maintain professional skepticism throughout the interim review. We also:
・
Ask questions primarily to management and persons responsible for financial and accounting matters, perform analytical procedures
and other interim review procedures. Interim review procedures are more limited procedures than audits of annual financial statements
performed in accordance with auditing standards generally accepted in Japan.
・
If we determine that there is significant uncertainty in regard to events or conditions that may cast significant doubt on the entity’s
ability to continue as a going concern, we conclude, based on the evidence obtained, whether there are any matters that cause us to
believe that the condensed quarterly consolidated financial statements have not been prepared in accordance with Article 5,
Paragraph 2 of the Tokyo Stock Exchange’s Standards Used for Preparation of Quarterly Financial Statements, etc. (however, the
omission of the description prescribed in Article 5, Paragraph 5 of the Standards Used for Preparation of Quarterly Financial
Statements, etc., has been applied). In addition, if there is significant uncertainty concerning the premise of a going concern, we are
required to call attention to the notes to the condensed quarterly consolidated financial statements in the interim review report, or if the
notes to the condensed quarterly consolidated financial statements pertaining to the significant uncertainty are inappropriate, issue a
modified opinion or a negative opinion on the condensed quarterly consolidated financial statements. While our conclusion is based on
the evidence obtained up to the date of the interim review report, depending on future events or conditions, an entity may be unable to
continue as a going concern.
・
Assess whether there are any matters that cause us to believe that the presentation of and notes to the condensed quarterly
consolidated financial statements have not been prepared in accordance with Article 5, Paragraph 2 of the Tokyo Stock Exchange’s
Standards Used for Preparation of Quarterly Financial Statements, etc. (however, the omission of the description prescribed in Article
5, Paragraph 5 of the Standards Used for Preparation of Quarterly Financial Statements, etc., has been applied).
・
Obtain evidence regarding the financial statements of the Company and its consolidated subsidiaries that forms the basis for giving
a conclusion on the condensed quarterly consolidated financial statements. We are responsible for direction, supervision and
inspections relating to the interim review of the condensed quarterly consolidated financial statements. We remain solely responsible
for our conclusion.
We communicate with the Audit and Supervisory Board members and Audit and Supervisory Board regarding the planned scope and
timing of the interim review and material interim review findings.
We also provide the Audit and Supervisory Board members and Audit and Supervisory Board with a statement that we have complied
with the ethical requirements in Japan regarding independence, and communicate to them all relationships and other matters that may
reasonably be thought to have impacts on our independence, and where applicable, related measures in order to eliminate obstruction
factors or safeguards to reduce them to an acceptable level.
Conflicts of Interest
We have no interest in the Company which should be disclosed in accordance with the Certified Public Accountants Act.
The original Independent Auditor’s Interim Review Report related to the condensed quarterly consolidated financial statements is in
Japanese. This English translation is prepared only for readers’ convenience.
Notes:
1. The above is a digital version of the matters stated in the original interim review report. The original is stored separately by the
Holding Company (the company submitting the quarterly financial results).
2. XBRL data and HTML data are not included in the scope of the interim review.
17