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    Notification of Establishment of Subsidiary

    Oct 2, 2023 | Recruit Holdings Co., Ltd.

    TOKYO, JAPAN (October 2, 2023) - Recruit Holdings Co., Ltd. (TSE: 6098) (the "Company") announced that its Board of Directors resolved at a meeting held today to establish a new subsidiary as follows.

    1. Purpose

    The Company and its consolidated subsidiaries are actively expanding its business globally, resulting in an increased proportion of non-Japanese Yen currencies in available funds on standby for business investments. With the aim of efficiently managing and investing the funds until they are utilized for business operations, the Company will establish RGF Asset Management Limited (tentative name).

    2. Overview

    (1) Name RGF Asset Management Limited (tentative)
    (2) Location Dublin, Ireland
    (3) Name of the directors Akihiko Mori, Brian Farrell, Peter Fagan
    (4) Description of business Investment of surplus funds within the Recruit group
    (5) Capital 1 euro
    (6) Foundation October 2023 (scheduled)
    (7) Major shareholder and
    shareholding ratio
    Recruit Holdings Co., Ltd. 100.0%

    3. Schedule

    (1) Date of resolution at the meeting of the board of directors October 2, 2023
    (2) Establishment date of the new subsidiary October 2023 (scheduled)
    (3) Launch date of the new business April 2024 (scheduled)

    4. Future Outlook

    The impact of this matter on the consolidated financial results of the Company for the year ending March 31, 2024 is expected to be immaterial.

    Contact:

    Investor Relations
    +81-3-3511-6383
    [email protected]