Recruit Holdings Establishes a U.S. Subsidiary
Dec. 27, 2013
Recruit Holdings Co., Ltd.
Recruit Holdings Co., Ltd. (Headquarters: Chiyoda-ku, Tokyo; President and Representative Director, CEO: Masumi Minegishi; hereinafter referred to as "Recruit") today announced that it has established a wholly-owned subsidiary in the U.S. to conduct overall control of its overseas subsidiaries, and will start its business on January 1, 2014.
1.Purpose of the Establishment of the Subsidiary
Recruit has been developing its HR business with the aim of becoming the "No. 1 global integrated HR service provider," offering a full line-up of services and products mainly in the Asian and North American markets. In the marketing business, Recruit has also been developing its services and operations mainly in Asia and North America in business categories such as travel and housing.
As part of such efforts, Recruit has acquired companies in the U.S. , starting with The CSI Companies, Inc. in 2010; Staffmark Holdings, Inc.; Advantage Resourcing America, Inc.; Indeed, Inc.; Movoto LLC; and Anteo Group. As a result, overseas businesses have been expanding rapidly, accounting for 20% (Fiscal year ended March 2013) of net sales for the group.
To respond to expanding overseas businesses, Recruit has decided to establish a subsidiary in the U.S., which, effective January 1, 2014, will be responsible for the overall overseas strategy as well as part of the control/monitoring of overseas subsidiaries' businesses that have hitherto been done in Japan. This move will enable Recruit to have deeper understanding of the markets as well as smooth and expeditious communications with overseas subsidiaries etc., resulting in further growth.
2.Overview of the Subsidiary to be Established
|(1)||Company name||RGF USA, Inc. (*)|
|(3)||Headquarters||125 West 55th Street New York, New York 10019|
|(4)||Established||October 24, 2013|
|(5)||Business Start||January 1, 2014|
|(7)||Shareholders||Recruit Holdings Co., Ltd. 100%|
|(8)||Main business||Formulation of the overall overseas strategy and control/monitoring of overseas companies' businesses|
* The company name will be changed to "Recruit USA, Inc." in future.
3.Overview of the Recruit Group
|(1)||Company name||Recruit Holdings Co., Ltd.|
|(2)||Representative||Masumi Minegishi, President and Representative Director, CEO|
|(3)||Headquarters||1-9-2 Marunouchi, Chiyoda-ku, Tokyo|
|(4)||Incorporated||August 26, 1963|
|(5)||Capital||JPY 3,002.64 million|
|(6)||Consolidated sales||JPY 1,049,224 million (for the fiscal year ended March 31, 2013)|
|(7)||Group employees||25,518 (as of March 31, 2013)|
|(8)||Main business||Provider of products and solutions related to HR, education and learning info, housing info, bridal info, travel/hotel booking, restaurant info, beauty salon booking, daily deals and other areas|
The Recruit Group's international businesses
|Permanent placement||RGF HR Agent||China; Hong Kong; Singapore; India; Vietnam; Indonesia|
|RGF Executive Search||India; Singapore; Vietnam|
|Bo Le||Asia (China, Hong Kong, Taiwan, Singapore, Malaysia, Thailand, Vietnam, Philippines, and Indonesia)|
|Advantage Resourcing||North America; UK; Australia|
|Indeed||More than 50 countries/regions worldwide|
- For details of this matter, please check the following: