Management Philosophy

(1)Management Philosophy

Recruit Group Management Philosophy is defined by its Basic Principle, Vision, Mission and Values.

Recruit Holdings Co., Ltd. (the "Company") has developed a two-sided marketplace business model to align with its management philosophy. Through its platforms, the Company facilitates the best possible matches for the mutual benefit of both individual users and business clients. In recent years, technological advancement has enabled the Company to improve matching efficiency, providing better matching outcomes for individual users and improving operational efficiencies for business clients.

(2)Target Management Key Performance Indicators(KPIs)

The Company aims to invest in new businesses, research and development, and mergers and acquisitions (M&A) in order to achieve profitable growth over the long-term, and maximize enterprise value as well as shareholder value. Therefore, the Company has set adjusted EBITDA*1 and adjusted EPS*2 as target management KPIs. Also, executive officers' compensation is linked to target management KPIs, especially adjusted EBITDA, to align with shareholder interests.

(3)Business Strategies

Business Strategies

The Company strives to maximize enterprise value and shareholder value by responding to the rapidly transforming technology and internet landscape and by identifying business opportunities globally. Through HR Technology, HR Solutions in Media & Solutions and Staffing, the Company aims to dramatically improve matching between job seekers and employment opportunities within the HR Matching market. Also, through SaaS solutions provided by Media & Solutions, the Company strives to improve the business performance and productivity of clients' businesses.

In an environment of high uncertainty, the Company believes that making a positive impact on society and this shared planet is key to achieving sustainable growth, and prospering together with all stakeholders through all corporate activities with a sound governance foundation is important. Therefore, the Company has set specific targets for environmental, social and governance (ESG) matters as a corporate strategy which will be monitored by the Board of Directors, and will take initiatives through dialogue with stakeholders.

The business strategies for each SBU

・HR Technology

HR Technology aims to further grow sponsored job advertising and recruiting solutions revenue globally through Indeed and Glassdoor while the demand for an efficient job seeking experience and hiring process empowered by technology continues to rise.

・Media & Solutions

While transforming its business to provide a wider array of services, Media & Solutions Marketing business aims for long-term revenue growth, by helping business clients attract individual users through online platforms in each industry with its established unique position in each market. Media & Solutions HR business aims to grow the number of business clients by promoting alliances with Indeed and through product development. For its SaaS solutions, Media & Solutions focuses on growing the number of business client accounts.


Staffing aims to achieve steady financial performance by providing job seekers with flexible working opportunities, and by offering employers a flexible workforce across a wide range of industries. Japan operations aim to maintain a stable adjusted EBITDA margin while overseas operations focus on continuous improvement of adjusted EBITDA margin.

  • *1.Adjusted EBITDA = operating income + depreciation and amortization (excluding depreciation of right-of-use assets) ± other operating income/expenses
  • *2.Adjusted EPS = adjusted profit3/ (number of shares issued at the end of the period - number of shares of treasury stock at the end of the period)
  • *3.Adjusted profit = profit attributable to owners of the parent ± adjustment items 4(excluding non-controlling interests) ± tax reconciliation related to certain adjustment items
  • *4.Adjustment items = amortization of intangible assets arising due to business combinations ± non-recurring income/losses5
  • *5.Non-recurring income/losses = gains or losses from disposals of shares of associates, expenses relating to Companyrestructuring, gains or losses from the sale or impairment of property and equipment, and income and expense items that the Company believes are unusual or non-recurring in nature which do not reflect the Company's underlying results of operations