The placement business operates on a pay-per-hire model in which revenue is recognized when a candidate is hired by our business clients. And we answered that, it will be Travel. Play video 20223 . 6098 Recruit Holdings Co Ltd Q1 2023 Earnings Call. Opportunities for Life. Adjusted EBITDA for Q3 was 71.9 billion, an increase of 168.8%. I'll explain Q3 results for Japan operations and Overseas operations separately. In the next fiscal year, we plan to continue recruiting top talent aggressively as an upfront investment in order to realize our long-term strategy simplify hiring. In HR Solutions, revenue increased by 20.5%, with year-over-year comparisons benefiting from the significant revenue decline experienced in FY 2020. 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 and shareholder returns. The presentation and comments made by officers or employees of Recruit Holdings Co.,Ltd. But we do see positive feedback for our products who continue to use our products regardless of negative impact on their businesses in certain industries. Faster, simpler and closer to you. Recruit Holdings Announces Well, it's overall for Overseas operations, but there are certain countries in which situation continues to be very challenging. It's following the same trend. An example of a new area of growth for Air Business Tools during the spread of COVID-19 is Air Reserve, a web service that simplifies reservation management. Revenue of Travel is expected to return to year-on-year declines, primarily due to the temporary suspension of the Go To Travel campaign. The business environment, unprecedented environment is continuing and we thought that it will stabilize. We will not be overly optimistic or pessimistic. I believe that led to this result. But when you say high teens, that's still a broad range. Also on January 13 this year, we announced that Hisayuki Idekoba, who is known as Deko and is currently the Executive Vice President, COO and Director of the Board, has been appointed as President, CEO and Representative Director of the Board effective April 1. In HR Solutions, we continue to manage costs while partially resuming marketing investments in certain areas in anticipation of future hiring demand. Revenue for Q3 increased by 1.1%. Use of or reliance on the information in the webcasts is at your own risk. But previously, there was no demand in those categories, and we are seeing new demand in these categories. In Air business tools, the number of AirPAY accounts increased by 39.1% year-over-year as of December 31, 2021. Recruit Holdings Co., Ltd. 2023 Q1 - Results - Earnings Call Presentation; Recruit Holdings Co., Ltd. 2023 Q1 - Results - Earnings Call Presentation. We have to wait for some time. Yes, this is Nagao speaking from Nomura Securities. Although billing prices increased following the implementation of the equal pay for equal work regulations beginning April 1, 2020, the number of temporary staff in Q3 decreased year-on-year due to persistently lower demand for new orders amid the economic uncertainty caused by the spread of COVID-19. Adjusted EBITDA margin was 9.5%, a decrease of 0.4 points, driven by an increase in revenue, while costs such as advertising expenses to attract temporary staff increased to a similar extent. will announce its Financial Results for Q1 FY2022 on Aug. 12, 2022 3:00 P.M. JST and the Webcast of the Earnings Call on Aug. 12, 2022 at 5:00 P.M. JST can be accessed here. During the Go To Eat campaign, which was launched in October 1, 2020, and which has broadly suspended issuing new vouchers since December, the number of people making online reservations on Hot Pepper Gourmet increased rapidly. For example, hospital related and people working in the backyard. 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. Of the approximately 260,000 AirPAY registered accounts as of December 31, 2021, approximately 165,000 accounts also subscribed to other Air business tools solutions. Mainly due to a decline in HR Solutions, adjusted EBITDA declined by 25.2% year-on-year and adjusted EBITDA margin was 20.2%. Sep 22, 2022 | Recruit Holdings Co., Ltd. Yes, this is Kishimoto from Mizuho Securities. I see. In addition, as for Study Sapuri, there has been an increase in adoption by local governments and schools with the promotion of information and communication technology utilization in schools as part of the GIGA Program initiated by the Ministry of Education, Culture, Sports Science and Technology. This is mainly due to the expected decline in revenue, an increase in the expense to improve remote work environment and an increase in advertising expenses to attract temporary staff and business clients, mainly in Japan. First, regarding the HR Technology. And if cost per hiring is too high, will you choose to hire at a slower pace? Recruit Holdings Co, Ltd. ( OTCPK:RCRRF) Q1 2022 Earnings Conference Call August 12, 2021 4:00 AM ET Company Participants Junichi Arai - Executive Officer of Corporate Planning Division. The number of paid users for Study Sapuri was up 106.4% year-on-year to 1.57 million as of December 31, 2020. And so, we will watch the changes closely. And to the extent possible, would you give us an update by region? You're talking about the margin, correct? will announce its Financial Results for Q4 & Fiscal Year FY2021 on May 16, 2022 3:00 P.M. JST and the Webcast of the Earnings Call on May 16, 2022 at 9:00 P.M. JST can be accessed. First of all, I will talk about HR Technology. So it's not a one-time demand. Tweet this video; Share on LinkedIn Compared to Q2, revenue in Q3 increased 6.1%. In Q3, after the COVID-19 related preventive measures in Japan were lifted at the end of September 2021, the overall Japanese economy and activities of individuals and business clients improved. As a result, Q3 fiscal year 2020 adjusted EBITDA margin was higher year-on-year and quarter-on-quarter. So these are some factors. It will hit our bottom line, but in other areas, this is the passive minority investment, no change there. Support Center Find answers to questions about products, access, use, setup, and administration. Revenue in HR solutions for the second half of FY 2021 is expected to increase in the range of approximately 17% to 22% year-over-year. Play video Q4 FY2021 Earnings Call Recruit Holdings. We also supported significant hiring among a few very large companies in e-commerce, logistics and delivery services to meet seasonal demand and in response to the shift in demand for online goods and services, which had been accelerated by the pandemic. The webcasts are being provided solely for informational purposes and do not constitute an offer to sell or a solicitation of an offer to buy any security. Despite the continued rebound of recruiting and hiring activity in Q3, we expect the global HR Matching markets recovery and stabilization will be gradual and uneven. Please understand. During our Q2 results announcement, we provided consolidated financial guidance for the fiscal year ending March 2021 and SBU financial guidance for the second half of fiscal year 2020, assuming the business environment would not deteriorate significantly throughout the second half of the fiscal year. That is why you're looking at the numbers in a cautious manner. In the past, figures only for the US market hadn't been disclosed, so I cannot do a comparison. If you have an ad-blocker enabled you may be blocked from proceeding. Including Idekoba-san, we hope we could share with you our view, but we are now looking up to the end of fourth quarter right now. It's not a temporary one-time demand? Original call is in Japanese and simultaneous interpretation to English is provided. So, for you, the hiring of talent is a high hurdle for you too. Statements made in the webcasts that are not historical facts including, without limitation, our plans, forecasts and strategies are forward-looking statements. If you have questions, please. Coupled with the impact of stagnant economic activities, profits declined in the fiscal year ended March 2020 and also in the fiscal year ended March 2021. In fiscal year 2020, we saw a strong recovery. And we do not think about large or small size, and so no change in our M&A strategy. Nothing is outside your expectation from the November timeframe. Looking at the impact COVID-19 has had on previous quarters in marketing solutions, the reintroduction of COVID-19 related restrictions is expected to have a limited impact in housing and beauty, while travel and dining may be negatively impacted. The stock-based compensation expense was 19.3 billion during the nine-month period, as you can see in the cash flow statement. Earnings for Recruit are expected to grow by 8.97% in the coming year, from $1.56 to $1.70 per share. Seeking Alpha's transcripts team is responsible for the development of all of our transcript-related projects. Consolidated adjusted EBITDA was 134.8 billion, an increase of 54.1%, and adjusted EPS was 55.26, an increase of 62.8%. Yoshiyuki Kinoshita - BofA Securities Japan Co., Ltd. Tetsuya Harada - Marusan Securities Co Ltd. As mentioned in the earlier question, we will continue investing for the future, which will be a cost increase. If the results are worse than 11%, then, accordingly, our marketing spend will have to be adjusted. Revenue in the placement service increased year-over-year, as well as compared to Q3 FY 2019 due to the elevated hiring demand in many industries and increasing demand for placement services. Revenue growth continued to outpace investments, resulting in adjusted EBITDA margin of 31.9% for Q3, an increase of 8.5 percentage points from 23.4% for the same period in the previous year. From Nomura Securities, Mr. Nagao, please. Bridal and Dining continued to experience COVID-19-related headwinds, and year-on-year revenue declines continued in Q3. In anticipation of a revenue recovery in the next fiscal year, Media & Solutions will continue to actively invest in Q4, paying close attention to the situation, while continuing to reduce costs such as overall advertising expenses. At this, however, the business environment for HR Technology has not changed significantly from Q3. Q3 2023 Recruit Holdings Co Ltd Earnings Release. Just one additional question. And if the current trend continues, we are expecting to perform at the upper end of the range. and its subsidiaries (the Recruit Group) in connection with these webcasts (including any posts from official social media accounts of the Recruit Group) are based on information available at the time such presentation or comments were first published. No change in the dividend forecast. Revenue in Q3 decreased 1.2% year-on-year, a 1.7% decrease, excluding the positive impacts of foreign exchange. If that is going on, then I think we're successfully capturing that demand. Therefore, although the business outlook remains uncertain, we currently expect that our US dollar based revenue for the second half of this year will be near the upper end of the second half guidance range, as previously announced in November. Adjusted EBITDA for the nine month period ended December 31, 2021 was 401.1 billion. Please. And the second question is related to labor cost on a full-year basis in the SG&A. This call is a simultaneous translation of the original call in Japanese and translation is. I have one question regarding the Overseas operations, overseas staffing. It's not that we have to increase costs. Consolidated adjusted EBITDA for the second half of fiscal year 2020 is expected to be 108.5 billion yen, a decrease of 26.4% year-on-year and is expected to be 231.9 billion yen, a decrease of 28.7% year-on-year for fiscal year 2020. Can you please elaborate on the breakdown of this increase in the labor cost? International Gurus' Top Holdings. The Score for RCRRF is 57, which is 14% above its historic median score of 50, and infers lower risk than normal. I have one question. Thank you very much. Information presented in connection with the webcasts regarding companies other than the Recruit Group or general market and industry trends and conditions are based on public sources and other third-party information, and the Recruit Group has not verified the accuracy or appropriateness of, and makes no representations with respect to, such third-party information. We are grateful for the understanding and support of our shareholders, other capital market participants and all of our stakeholders. As we mentioned before, we have determined the number of registered SaaS solution accounts in Japan is the most important KPI as Media & Solutions aim to evolve the wide range of solutions offered into an integrated ecosystem to support the operations of our business clients. Early in the week CBOE signed a MOU with SBI Holdings, a big financial services company in Japan where CBOE may collaborate in various businesses. This is a somewhat of a weird question, but do you think you can hire as many talents as you want? We recommend that you refer to the highlights on page 5 of the earnings release and the FAQ posted on our IR website. Revenue in the job advertising business increased year-over-year as hiring demand for part time jobs recovered, especially in the restaurant sector. In mid-November, we announced our forecast on revenue growth, and that hasn't been changed. James Montier Short Screen . Margin Decliners . And are they changing in a sustainable fashion? So, HR Technology, I have two questions. Yes, this is Kinoshita speaking. In Q4, although many markets and industries continue to be impacted, we are accelerating investments to drive growth in order to best position ourselves for post-COVID environment. I am just one soldier, I cannot answer that kind of a big question. I also have two questions about HR Technology on your mindset. For the second half, revenue in both Japan operations and Overseas operations are expected to decline year-on-year. Excluding certain industries, most industries are in the holiday season and they may pause their hiring activities. Now let me address your second question first. Even in an uncertain global economic environment, Overseas operations maintained a positive adjusted EBITDA margin by taking prompt and appropriate actions in response to labor market trends and government programs in each overseas market and through ongoing cost control initiatives. ; Contact Us Have a question, idea, or some feedback? And as a result, your share and other companies competitiveness, how are they changing? If we have promising companies that we want to work with, we will look for them. With the changes in the financial environment, the stock market is changing dramatically. Today, we have Junichi Arai, Executive Officer of Capital Market Strategies; and Yasushi Hashimoto, Senior Manager, Disclosure and Individual Investor Relations Department. Excluding the revenue from the Rent Assistance Program by The Small and Medium Enterprise Agency of the Ministry of Economy in Japan, consolidated revenue decreased 4.5%. In Housing & Real Estate and in Beauty, revenue continued to increase year-on-year from Q2. The tender price represents a 10% discount from the closing price of 5,090 on the day before the announcement, which was agreed upon in advance with three Japanese business shareholders that signed the tender offer agreement. Last time, you talked about the labor shortage and the unit price is increasing. And you have a strong recovery. Recruit Holdings is traded on OTC Exchange in the United States. My Research and Language Selection Sign into My Research Create My Research Account English; Help and support. So, in general, the market activities have slowed down. Is it different from other regions? And so this may be a temporary thing. So if we fall in the midpoint, it will be 14% to 16%. Q Does Recruit. By executing a self-tender offer at a discount to the market price, we increase the likelihood that the Japanese business shareholders sell their desired amount of shares and we minimize the cash outflow of buying back shares, while at the same time enhancing shareholder value. But as Maeda-san just said, it's not easy. And so, this leads to revenue increase. I will walk you through the SBU details later. If the number is decreased, unless we see recovery in the number of workers working on site, we do not expect our revenue to recover. That's how we are willing to prepare and that may be linked to the stock compensation system that we've been talking about. Along with continued demand for logistics role to support ecommerce, revenue growth was supported by temporary demand for healthcare roles to support COVID-19 mitigation efforts, particularly in Europe, as new variants emerged, which is not expected to be sustainable as COVID-19 recedes. Yes, I understand. I see. On the other hand, there is new demand, and we have been able to capture demand. And the US will be a significant source of revenue. Investor Relations | Recruit Holdings Investor Relations Financial Results for Q2 FY2022 will be announced on November 14, 2022 15:00 JST and the Webcast of the Q2 FY2022 Earnings Call will be held on November 14, 2022 at 17:00 JST. [Operator Instructions]. will announce its Financial Results for Q2 FY2022 on November 14, 2022 3:00 P.M. JST and the Webcast of the Earnings Call on the same day at 5:00 P.M. JST can be accessed here. We are not -- we don't have any open questions right now. So let's wait for Mr. Idekoba's speech in May. They may come to us first temporarily. I have two questions. Recruit Holdings Co.,Ltd. Adjusted EBITDA decreased by 3.8% year-over-year as Media & Solutions executed strategic marketing activities aligned with its business strategy. At the same time, as we have been saying since 2 years ago before the emergence of COVID-19 situation, we had seen operations in overseas, particularly in Europe. As of September last year, we assumed that the imbalance in the US labor market would lessen gradually over the second half of FY 2021. But as I mentioned earlier, the hiring and HR mobility is by far the largest in the U.S. The challenging business environment is expected to continue for both Bridal and Dining. So, that is the growth you're seeing. Deko, CEO from April 1, will also become the Head of the Corporate Planning Division. Now, we would like to proceed to the Q&A session. The relatively limited supply of jobseekers looking for work, combined with significant hiring demand, continued to create competition for talent on Indeed and Glassdoor. This is also directly related. A The stock price for Recruit Holdings Co ( OTCPK: RCRUY) is $ 5.95 last updated October 21, 2022, 8:00 PM UTC. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Mitsunobu Tsuruo - Citigroup Global Markets Japan. SME clients are facing an increasing amount of HR-related work due to COVID-19 and the demand for solutions to support them in a simple and easy way has grown rapidly. And some say, yes, it will continue, right? Monday, Nov 14th, 2022. Okay. For the second half of fiscal year 2020, HR Technologys revenue on a U.S. dollar basis is expected to increase approximately 11% year-on-year, which has been revised upward as the positive trends in Q3 are expected to continue in Q4, assuming the business environment does not deteriorate significantly. So to repeat myself, mainly in the North America, is driving, leading the results of this quarter. [Operator Instructions]. Another view is, for the company's job hiring demand, the appetite and the environment will change some say. Next, I will talk about the consolidated results of operations for Q3 of FY 2021. So once the economic situation turns around, we think they will spend money with us and use our service to hire more people and pay more fee to us to hire good -- to hire more. I will begin with the recent developments that we implemented and announced after the Q2 results announcement. So next, Nomura Securities, Mr. Nagao, please. Or is it settling? We do not see that there is a significant gap between the US and other regions. Despite continued restrictions on some business clients' operations in order to mitigate the spread of COVID-19, the business was favorable compared to Q2, supported by strong revenue growth in certain industries, in particular, logistics, healthcare and others that have seen COVID-19-related demand. As I mentioned earlier, in terms of correlation with the revenue, we have been sharing a similar story from before COVID, but the revenue and labor cost in a given period do not always match with each other. I see. So when we consider this, that would certainly affect the results. And with that, your profit growth, the way of thinking on profit growth and investment will change going forward or not under this new management structure? On the marketing side and development side, we have to hire talent. So, my first question is the question I asked last time too, the result. Due to the uncertain economic environment, HR Technology continued to be conservative in making those investments. In this era of search, where information has become available anytime anywhere, we need to focus more on proposing the optimal choice. And the share price in the listed companies changed much in the past one month. In Q4, we do not believe the current restrictions will have the same level impact on daily life in Japan as earlier in the pandemic, as daily life has adapted to COVID-19 and extraordinary suspension and slowdown of economic activities that was seen two years ago is no longer happening. However, we expect our full-year consolidated financial results will be near the upper end of the guidance range. Presenter SpeechMizuho Shen Welcome to the Recruit Holdings First Quarter of FY 2021 Earnings Conference Call. But from the second to third quarter, development in the US, is it in line with your past regular seasonalities? While generally continuing cost control measures, adjusted EBITDA margin is expected to be approximately 5%. Through this offering process via underwriting securities companies, we have addressed this concern, and we are pleased to announce that more global institutional investors were able to hold a larger volume of our shares. And 51job, as Tsuruo-san just said, the conditions and the schedule changed. The first question is the situation in the US may be under some seasonality according to your explanation. So that's the kind of organization we are trying to become. I think that is the big key factor. Have you seen any changes or any indications that you could share with me? Then Kinoshita-san. We are trying to think of what new services can be launched, whether our existing services can stay effective or need to change or tailor or what to do. Compared to Q2, revenue in Q3 increased 8.4% and 9.8%, excluding revenue from the Rent Assistance Program, respectively. Also, please note that all comparisons during this conference call are year-over-year unless otherwise stated. The policy on the disposal of treasury stock acquired through this transaction has not yet been determined at this moment. Recruit Holdings Co, Ltd. (OTCPK:RCRRF) Q3 2021 Earnings Conference Call February 15, 2021 3:00 AM ET, Junichi Arai - Executive Officer-Capital Market Strategy. In this role, he will lead and execute strategic actions to support mid to long-term Group strategies while building the trust and support from shareholders and various stakeholders. But we don't know if that will directly lead to the share increase because the customers hiring budget may become bigger and then other companies will -- there will be more spending for others. Sorry for asking so many questions. Is this happening to you frequently? Revenue in Marketing Solutions in Q3 increased by 22.8% year-on-year. This expense is from the stock-based compensation plan for employees of HR Technology, which was implemented in Q4 FY 2020, as well as the existing Recruit group directors plans. As a result, revenue from the placement business in Q3 declined year-on-year due to reduced hiring demand in the first half of FY 2020. When we presented the range in November, there was a question about what would affect the changes in the range. If it's going to be the upper half, it's 17% to 19%. Revenue increased by 13% or 9.1% excluding the positive impact of foreign exchange rate movements, primarily driven by the increase in Europe, US and Australia, with the additional growth from Japan. Understood. Excluding 30.6 billion yen of the Rent Assistance Program, which is included in others, revenue declined by 5.2% year-on-year. The purpose of this profile is to allow us to share with our readers new transcript-related developments. So roughly speaking, we usually do not disclose the breakdown. Well, the people in the delivery services, there are not so much staff, temp staff, but they are more short-term, more like part-time workers. The placement service has also seen recent signs of gradual recovery, but revenue from recovered demand is expected to be recognized some time in next fiscal year. This supported a continued rebound of recruiting and hiring activity and improving revenue trends, particularly in the U.S. and especially among SMEs. So new demands and new product development will be pursued going forward. Ever since our foundation, Recruit Group has sought to act as a meeting place that brings together individual users and business clients, with a focus on services in the fields of life events and lifestyle, ranging from education to employment, and beauty to dining out. 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