Recruit Holdings Announces FY2026 Q1
Recruit Holdings Co., Ltd.
1. Highlights of Consolidated Financial Results and Guidance
FY2026 Q1 Consolidated Financial Results
- Revenue, EBITDA+S, and basic EPS all reaching record highs, exceeding initial expectations
FY2026 Consolidated Revised Guidance
- Revised upward the full-year guidance disclosed on May 15
- Monetization development and operational efficiency in HR Technology progressed faster than initially expected
- 14.4% increase in revenue, 39.1% increase in EBITDA+S with EBITDA+S margin of 26.1%, and 55.2% growth in basic EPS.
FY2026 Consolidated Q1 Results and Full-year Revised Guidance
| Q1 Actual | FY2025 Full-year | FY2026 Full-year Guidance | ||||||
|---|---|---|---|---|---|---|---|---|
| (in billions of yen, unless otherwise stated) | FY2025 | FY2026 | YoY | Actual | 05/15/26 | YoY | 08/07/26 | YoY |
| Exchange rate per US Dollar (Yen) | 144.4 | 159.3 | - | 150.7 | 154.0 | - | 159.0 | - |
| Revenue | 878.8 | 1,045.3 | +18.9% | 3,697.3 | 4,030.0 | +9.0% | 4,230.0 | +14.4% |
| EBITDA+S | 187.1 | 292.8 | +56.5% | 794.3 | 949.0 | +19.5% | 1,105.0 | +39.1% |
| EBITDA+S margin % | 21.3% | 28.0% | - | 21.5% | 23.5% | - | 26.1% | - |
| EBITDA | 163.5 | 272.3 | +66.6% | 730.5 | 869.0 | +19.0% | 1,025.0 | +40.3% |
| EBITDA margin % | 18.6% | 26.1% | - | 19.8% | 21.6% | - | 24.2% | - |
| Profit attributable to owners of the parent | 120.9 | 202.6 | +67.5% | 496.9 | 623.0 | +25.4% | 755.0 | +51.9% |
| Basic EPS (yen) | 83.97 | 145.48 | +73.2% | 349.78 | 447.00 | +27.8% | 543.00 | +55.2% |
FY2026 Consolidated Full-year Revised Guidance
| Metric | FY2024 actual | FY2025 actual | FY2026 guidance (05/15/26) | FY2026 guidance (08/07/26) |
|---|---|---|---|---|
| Revenue (trillions of yen) | 3.55 | 3.69 | 4.03 (+9.0%) | 4.23 (+14.4%) |
| EBITDA+S (billions of yen) | 678.8 | 794.3 | 949.0 (+19.5%) | 1,105.0 (+39.1%) |
| EBITDA+S margin | 19.1% | 21.5% | 23.5% | 26.1% |
| Basic EPS (yen) | 271.44 | 349.78 | 447.00 (+27.8%) | 543.00 (+55.2%) |
| Exchange rate (JPY/USD) | 152.6 | 150.7 | 154.0 | 159.0 |
Transcribed from the chart image. The FY2024 figures and the exchange rates do not appear in the body text or tables, so please have the IR team verify them.
2. FY2026 Q1 Financial Results and Full-Year Revised Outlook by Segments
FY2026 Q1 Results and FY2026 Full-year Revised Outlook by Segment
| Q1 Actual | FY2025 Full-year | FY2026 Full-year Outlook | |||||||
|---|---|---|---|---|---|---|---|---|---|
| (in billions of yen) | FY2025 | FY2026 | YoY | Actual | 05/15/26 | YoY | 08/07/26 | YoY | |
| HR Technology | Revenue | 341.7 | 455.4 | +33.2% | 1,458.4 | 1,653.7 | +13.4% | 1,822.0 | +24.9% |
| Revenue in USD mm | 2,363 | 2,858 | +20.9% | 9,674 | 10,738 | +11.0% | 11,485 | +18.7% | |
| EBITDA+S | 119.4 | 215.7 | +80.6% | 549.9 | 677.4 | +23.2% | 834.0 | +51.6% | |
| EBITDA+S Margin % | 35.0% | 47.4% | - | 37.7% | 41.0% | - | 45.8% | - | |
| Staffing | Revenue | 408.1 | 455.2 | +11.5% | 1,703.4 | 1,802.5 | +5.8% | 1,831.0 | +7.5% |
| EBITDA+S | 26.8 | 28.2 | +5.2% | 99.7 | 100.5 | +0.8% | 102.5 | +2.8% | |
| EBITDA+S Margin % | 6.6% | 6.2% | - | 5.9% | 5.6% | - | 5.6% | - | |
| MMT | Revenue | 136.8 | 141.8 | +3.7% | 564.6 | 605.0 | +7.1% | 605.0 | +7.1% |
| EBITDA+S | 43.2 | 51.1 | +18.3% | 154.9 | 181.5 | +17.1% | 181.5 | +17.1% | |
| EBITDA+S Margin % | 31.6% | 36.0% | - | 27.4% | 30.0% | - | 30.0% | - | |
FY2026 Full-year Revised Outlook by Segment
| Segment | Revenue (billions of yen) | EBITDA+S (billions of yen) | EBITDA+S margin |
|---|---|---|---|
| HR Technology | 1,822.0 | 834.0 | 45.8% |
| Staffing | 1,831.0 | 102.5 | 5.6% |
| MMT | 605.0 | 181.5 | 30.0% |
All figures match the 08/07/26 column of the segment table in this document.
HR Technology
Q1 FY2026
- Segment revenue increased 20.9% YoY to $2.85 billion, exceeding initial expectations.
- - US: Revenue increased 30.0% YoY to $1.64 billion, a new quarterly record, with US Average Revenue per Job, or US ARPJ, growth of 35% YoY
- - Europe & Others: Revenue increased 28.5% YoY to $0.61 billion
- - Japan: Revenue increased 6.7% YoY to ¥96.3 billion
- Segment EBITDA+S margin reached 47.4%, driven by revenue growth and further cost efficiency improvements.
FY2026 Full-Year Segment Outlook
- Segment revenue outlook was revised upward for all three regions to $11.48 billion, an increase of 18.7% YoY.
- US: Revenue to increase 25.1% YoY to $6.65 billion, driven by continued monetization development including further growth of Premium Sponsored Jobs, based on US ARPJ growth rate of 30% in FY2026
- Europe & Others: Revenue to increase 23.2% YoY to $2.52 billion with continued monetization development, including further growth of Premium Sponsored Jobs in major countries.
- Japan: Revenue to increase 5.4% YoY to ¥367.0 billion, or virtually flat YoY at $2.31 billion, with anticipated growth from Indeed PLUS and the recovery of placement services in H2 expected to offset the negative impact of gross-to-net revenue recognition changes and the strategic downsizing of unprofitable businesses
- Segment EBITDA+S margin to be 45.8% in FY2026.
Staffing
Q1 FY2026
- Segment revenue increased 11.5% YoY to ¥455.2 billion with EBITDA+S margin of 6.2 %.
- Japan: Revenue increased 3.5% YoY to ¥220.2 billion
- Europe, US, and Australia: Revenue increased 20.3% YoY to ¥235.0 billion
FY2026 Full-Year Segment Outlook
- Minor revisions made to the full-year guidance disclosed in May.
Marketing Matching Technologies (MMT)
Q1 FY2026
- Segment revenue increased 3.7% YoY to ¥141.8 billion with EBITDA+S margin of 36.0 %.
- Lifestyle: Revenue increased 9.6% YoY to ¥76.8 billion.
- Housing & Real Estate: Revenue increased 2.8% YoY to ¥38.6 billion.
- Others: Revenue decreased 9.3% YoY to ¥26.4 billion.
FY2026 Full-Year Segment Outlook
- No changes from the full-year guidance disclosed in May.
- Segment EBITDA+S margin to be 31.0% for H1, 29.0% for H2, and 30.0% for the full year, reflecting the normalization of previous seasonal fluctuations in sales promotion and advertising expenses.
- No change to our target of approximately 35% EBITDA+S margin by FY2028.
3. Capital Allocation
- As of July 31, 2026, the ongoing ¥350.0 billion share buyback program has utilized ¥120.0 billion, or 34.3% of the total amount, repurchasing 12.5 million shares.
- Gross cash was ¥908.5 billion as of June 30, 2026.
For further details on the information contained in this document, please refer to the Earnings Release, Presentation Slides, and Transcript.
Forward-Looking Statements
This material contains forward-looking statements, which reflect the Company’s assumptions, estimates and outlook for the future based on information available to the Company and the Company’s plans and expectations as of the date of this material unless the context otherwise indicates. There can be no assurance that the relevant forward-looking statements will be achieved. Please note that significant differences between such 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 material based on any subsequent developments except as required by applicable law or stock exchange rules and regulations.
Third-Party Information
This material includes information derived from or based on third-party sources, including information about the markets in which the Company operates. 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.
Notes Of This Material
This material has been prepared for the sole purpose of providing general reference information. Neither this material nor any of its contents may be disclosed or used by any third party for any other purpose without the prior written consent of the Company. The Company makes no representation as to the accuracy or completeness of the information contained in this material and shall not be liable for any loss or damage arising from the use of this material.