Recruit Holdings Announces Reorganization of Its Media & Solutions Strategic Business Unit
Jan 6, 2020 | Recruit Holdings Co., Ltd.
TOKYO, JAPAN (January 6, 2020) - Recruit Holdings Co., Ltd. (TSE: 6098) ("Recruit Holdings" or the "Company") announced today that Recruit Co., Ltd. ("Recruit"), a wholly-owned subsidiary of the Company, resolved at its Board of Directors meeting today on its direction to reorganize its wholly-owned subsidiaries (the "Reorganization").
1. Purpose of the Reorganization
The subsidiaries were established in 2012 as the Company's core operating companies and functional companies to provide further value added services in their respective domains. Since April 2018, Recruit has been the headquarters of the Media & Solutions Strategic Business Unit, focusing on its business strategies, fast decision making and operational and management support services mainly for small and medium-sized enterprises with its Air BusinessTools (formerly called as Air Series) and other solutions.
Recruit determined that it would be best to integrate the main core operating companies and functional companies into Recruit in order to consolidate the operational know-how and diverse human resources at these core operating companies and functional companies, and to aim for further enhancement of value added services as well as to contribute to society through the creation of new value.
Specifically, Recruit aims to further strengthen its three key business elements such as product development capabilities, sales and distribution capabilities, and human resource development capabilities, while strengthening corporate governance functions, to develop new businesses for the next ten years.
2. Outline of the Reorganization
Aiming for April 2021, Recruit's seven main core operating and functional subsidiaries will be integrated into Recruit.
Their product development and corporate functions will be first integrated in April 2020 (the "Initial integration"), prior to the determination of the method of the entire Reorganization and the final organizational structure.
3. Impacts on The Company's Consolidated Financial Results
The Company expects that this resolution and the Initial integration will not have a significant impact to the Company's consolidated financial results for the fiscal year ending March 31, 2020.