Recruit Holdings Announces Date for FY2019 Results Announcement Amidst the Coronavirus (COVID-19) Outbreak
Apr 20, 2020 | Recruit Holdings Co., Ltd.
TOKYO, JAPAN (April 20, 2020) - Recruit Holdings Co., Ltd. (TSE: 6098) ("Recruit Holdings") announced today that the financial results for FY2019 (April 1, 2019 to March 31, 2020) will be announced on May 27, 2020.
Amidst the global spread of COVID-19, Recruit Holdings and its subsidiaries (the "Company") have prioritized the health of their employees, families, enterprise clients, individual users, and business partners, and have implemented measures to stop the spread of COVID-19. For the protection of the broader community and in compliance with local regulations where required, the Company recommends or mandates, as appropriate, its employees to work from home if their roles allow.
Recruit Holdings has historically announced its financial results within 45 days after the end of each quarter, which is recommended by the Tokyo Stock Exchange. However, the outbreak of COVID-19 has disrupted the Company's ordinary operations to finalize its financial consolidation process.
With regard to the Company's financial guidance for FY2019, there is no revision from the figures announced on February 14, 2020 as the financial impact of COVID-19 to FY2019 consolidated results was limited.
The global spread of COVID-19 has broadly impacted the Company's business performance. The Company's HR matching businesses, which are comprised of the HR Technology and Staffing SBUs, and the HR Solutions subsegment in Media & Solutions SBU, have been negatively affected, as employers have turned cautious on hiring while assessing the current economic situation and adapting to social distancing and other restrictions in many countries around the world. Our Marketing Solutions subsegment has also been negatively affected by reduced demand for advertising services, especially in traveling and dining, as a result of the state of emergency and shelter-in-place request in Japan.