Recruit Holdings Co., Ltd. · TSE:6098
Recruit — Q2 FY2026 Earnings Presentation
42 slides from Recruit's earnings presentation, Nov 11, 2026
Slide 1: FY2026 Q2 Consolidated Results
Recruit Holdings Please refer to the QR code below for the transcript. 書き起こしは下記 QRコードを参照ください FY2026 Q2 Consolidated Results English 日本語 2027年3月期 第2四半期決算説明 Please refer to the QR code below for our company November 11, 2026 page on Envalith. Envalith社の当社ページは下記 QRコードを参照ください FY2025 is the fiscal year f
Slide 2: Hisayuki Idekoba, President and CEO
いで こ ば ひさ ゆき 出木場 久征 Hisayuki “Deko” Idekoba Recruit Holdings Co., Ltd. 株式会社リクルートホールディングス Representative Director, President and Chief Executive Officer 代表取締役社長 兼 Chief Executive Officer Head of HR Technology Business HRテクノロジー事業担当 Indeed, Inc. President and CEO Recruit Holdings | FY2026 Q2 Results 2
Slide 3: Junichi Arai, Chief Financial Officer
あら い じゅん いち 荒井 淳一 Junichi Arai Recruit Holdings Co., Ltd. 株式会社リクルートホールディングス Executive Vice President and Chief Financial Officer 常務執行役員 兼 Chief Financial Officer Financial Management Division ファイナンシャル・マネジメント本部 Recruit Holdings | FY2026 Q2 Results 3
Slide 4: Table of Contents
Table of Contents 1. FY2026 Q2 Results Announcement Highlights 2. HR Technology Segment 3. Staffing Segment 4. Marketing Matching Technologies (“MMT”) Segment Recruit Holdings | FY2026 Q2 Results 4
Slide 5: FY2026 Q2 Results Announcement Highlights
1. FY2026 Q2 Results Announcement Highlights HR Technology HRテクノロジー事業 ● FY2026 Q2 actual revenue +27.5% YoY and H1 +24.2% YoY in USD 当第2四半期売上収益は YoY +27.5%、 当上半期 YoY +24.2% (米ドルベース) ● Full-year outlook: revenue $11.9 billion, +23.2% YoY in USD and EBITDA+S margin 46.5% 通期売上収益は 119億ドル、YoY +23.2% (米ドル
Slide 6: HR Technology Segment Revenue: Results and Outlook
1. FY2026 Q2 Results Announcement Highlights HR Technology Segment Revenue: Results and Outlook Quarterly Semi Annual Annual (in billions of dollars) (in billions of dollars) (in billions of dollars) FY2026 Outlook Outlook 08/07/26 11/11/26 FY2025 FY2026 FY2025 FY2026 Please see footnotes in the app
Slide 7: Consolidated Three Business Segments
1. FY2026 Q2 Results Announcement Highlights Consolidated Three Business Segments Marketing Matching HR Technology Staffing Technologies (“MMT”) Global platforms on jobs, hiring Temporary staffing services Matching platforms and Business in Japan, Europe, US and Australia solutions and real-time con
Slide 8: Consolidated FY2026 Q2 Financial Results
1. FY2026 Q2 Results Announcement Highlights Consolidated FY2026 Q2 Financial Results Revenue EBITDA+S and Margin % Basic EPS (in billions of yen) (in billions of yen) (yen) FY2025 FY2026 FY2025 FY2026 FY2025 FY2026 JPY / USD 144.4 147.4 154.0 156.9 159.3 159.1 Please see footnotes in the appendix.
Slide 9: Consolidated FY2026 Full-year Guidance Unchanged
1. FY2026 Q2 Results Announcement Highlights Consolidated FY2026 Full-year Guidance Unchanged Revenue EBITDA+S and Margin % Basic EPS (in trillions of yen) (in billions of yen) (yen) Guidance Guidance Guidance JPY / USD 152.6 150.7 159.0 Please see footnotes in the appendix. Recruit Holdings | FY202
Slide 10: Capital Allocation Strategy
1. FY2026 Q2 Results Announcement Highlights Capital Allocation Strategy ● FY2026 H1 Share Repurchase: Repurchased approx. 16 million RHC shares equivalent to ¥177.6 billion 当上半期に1,776億円相当、約1,635万株の自己株式を取得 ● Gross cash: ¥988.2 billion as of September 30, 2026 2026年9月末時点のグロス現預金は9,882億円 ● Interim divi
Slide 11: Capital Allocation Strategy
1. FY2026 Q2 Results Announcement Highlights Capital Allocation Strategy Total payouts to shareholders1 Gross cash4 Equity attributable to owners Total payout ratio2 % of the parent and ROE5 (in billions of yen) (in billions of yen) (in billions of yen) Please see footnotes in the appendix. YTD3 Out
Slide 12: 2. HR Technology Segment
2. HR Technology Segment Recruit Holdings | FY2026 Q2 Results 12
Slide 13: Segment Quarterly Revenue
2. HR Technology Segment Segment Quarterly Revenue In US dollar In Japanese Yen (in billions of dollars) (in billions of yen) Japan Europe & Others US FY2024 Pro Forma FY2025 FY2026 FY2025 FY2026 Please see footnotes in the appendix. Recruit Holdings | FY2026 Q2 Results 13
Slide 14: Segment Quarterly EBITDA, EBITDA+S and Margins
2. HR Technology Segment Segment Quarterly EBITDA, EBITDA+S and Margins % EBITDA and Margin % EBITDA+S and Margin % (in billions of yen) (in billions of yen) FY2025 FY2026 FY2025 FY2026 Please see footnotes in the appendix. Recruit Holdings | FY2026 Q2 Results 14
Slide 15: Segment Semi-Annual Revenue: Results and Outlook
2. HR Technology Segment Segment Semi-Annual Revenue : Results and Outlook Revenue in US dollar Revenue in Japanese Yen (in billions of dollars) (in billions of yen) Outlook Outlook FY2024 FY2025 FY2026 FY2024 FY2025 FY2026 Pro Forma Please see footnotes in the appendix. Pro Forma Recruit Holdings |
Slide 16: Segment Semi-Annual EBITDA and EBITDA+S
2. HR Technology Segment Segment Semi-Annual EBITDA and EBITDA+S : Results and Outlook EBITDA and Margin % EBITDA+S and Margin % (in billions of yen) (in billions of yen) Outlook Outlook FY2024 FY2025 FY2026 FY2024 FY2025 FY2026 Pro Forma Please see footnotes in the appendix. Pro Forma Recruit Holdi
Slide 17: Segment Annual Revenue, EBITDA+S: Results and Outlook
2. HR Technology Segment Segment Annual Revenue, EBITDA+S : Results and Outlook Revenue in US dollar Revenue in Japanese Yen EBITDA+S and Margin % (in billions of dollars) (in billions of yen) (in billions of yen) FY2026 Outlook FY2026 Outlook FY2026 Outlook Pro Forma Actual 08/07/26 11/11/26 Pro Fo
Slide 18: Segment FY2026 Revenue Breakdown by Region
2. HR Technology Segment Segment FY2026 Revenue Breakdown by Region FY2026 Outlook and % of Total FY2025 Actual and FY2026 Outlook (in billions of dollars) (in billions of dollars) Total: $11.92 Japan $2.41 (20.2%) Europe US US & Others $6.97 (58.5%) $2.53 (21.3%) Europe & Japan Others FY2025 Actual
Slide 19: US Quarterly Revenue, IHL US NSA JPI and US ARPJ
2. HR Technology Segment US Quarterly Revenue, IHL US NSA JPI and US ARPJ Growth Rates (Index to 100 on Feb 1, 2020) (in millions of dollars) Historical IHL US NSA JPI US ARPJ Growth Rates 175 150 125 100 75 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 FY2026 Please see footnotes in the appendix
Slide 20: US Semi-Annual Revenue, IHL US NSA JPI and US ARPJ
2. HR Technology Segment US Semi-Annual Revenue, IHL US NSA JPI and US ARPJ Growth Rates (in millions of dollars) Historical IHL US NSA JPI (Index to 100 on Feb 1, 2020) RHC assumed FY2026 Index US ARPJ Growth Rates 130 120 110 -3% 0% 100 Outlook FY2024 FY2025 FY2026 Please see footnotes in the appe
Slide 21: US Annual Revenue, IHL US NSA JPI and US ARPJ
2. HR Technology Segment US Annual Revenue, IHL US NSA JPI and US ARPJ Growth Rates (in millions of dollars) (Index to 100 on Historical IHL US NSA JPI Feb 1, 2020) RHC assumed FY2026 Index US ARPJ Growth Rates 150 125 100 -7% -1% 75 Outlook Please see footnotes in the appendix. Recruit Holdings | F
Slide 22: Europe and Others (Including Canada) Revenue
2. HR Technology Segment Europe and Others (Including Canada) Revenue Quarterly Results Annual Results and Outlook (in millions of dollars) (in millions of dollars) FY2026 Outlook FY2025 FY2026 08/07/26 11/11/26 Please see footnotes in the appendix. Recruit Holdings | FY2026 Q2 Results 22
Slide 23: Japan Revenue
2. HR Technology Segment Japan Revenue Quarterly Results Annual Results and Outlook (in billions of yen) (in billions of yen) FY2026 Outlook Pro Forma 08/07/26 11/11/26 FY2025 FY2026 Please see footnotes in the appendix. Recruit Holdings | FY2026 Q2 Results 23
Slide 24: 3. Staffing Segment
3. Staffing Segment Recruit Holdings | FY2026 Q2 Results 24
Slide 25: Staffing FY2026 Q2 Results
3. Staffing Segment FY2026 Q2 Results Revenue EBITDA+S and Margin % (in billions of yen) (in billions of yen) Europe US Australia Japan FY2025 FY2026 FY2025 FY2026 Please see footnotes in the appendix. Recruit Holdings | FY2026 Q2 Results 25
Slide 26: Staffing FY2026 Semi-Annual Results and Outlook
3. Staffing Segment FY2026 Semi-Annual Results and Outlook Revenue EBITDA+S and Margin % (in billions of yen) (in billions of yen) Europe US Australia Japan Actual Outlook Actual Outlook FY2025 FY2026 FY2025 FY2026 Please see footnotes in the appendix. Recruit Holdings | FY2026 Q2 Results 26
Slide 27: Staffing FY2026 Annual Outlook
3. Staffing Segment FY2026 Annual Outlook Revenue EBITDA+S and Margin % (in billions of yen) (in billions of yen) Europe, US, Australia Japan Outlook Outlook Please see footnotes in the appendix. Recruit Holdings | FY2026 Q2 Results 27
Slide 28: 4. Marketing Matching Technologies (MMT) Segment
4. Marketing Matching Technologies (“MMT”) Segment Recruit Holdings | FY2026 Q2 Results 28
Slide 29: MMT FY2026 Q2 Results
4. Marketing Matching Technologies (“MMT”) Segment FY2026 Q2 Results Revenue EBITDA+S and Margin % (in billions of yen) (in billions of yen) Others Housing & Real Estate Lifestyle (Beauty, Dining, Travel, SaaS) FY2025 FY2026 FY2025 FY2026 Please see footnotes in the appendix. Recruit Holdings | FY20
Slide 30: MMT FY2026 Semi-Annual Results and Outlook
4. Marketing Matching Technologies (“MMT”) Segment FY2026 Semi-Annual Results and Outlook Revenue EBITDA+S and Margin % (in billions of yen) (in billions of yen) Others Housing & Real Estate Lifestyle (Beauty, Dining, Travel, SaaS) Actual Outlook Actual Outlook FY2025 FY2026 FY2025 FY2026 Please see
Slide 31: MMT FY2026 Annual Outlook
4. Marketing Matching Technologies (“MMT”) Segment FY2026 Annual Outlook Revenue EBITDA+S and Margin % (in billions of yen) (in billions of yen) Others Housing & Real Estate Lifestyle (Beauty, Dining, Travel, SaaS) Outlook Outlook Please see footnotes in the appendix. Recruit Holdings | FY2026 Q2 Re
Slide 32: Appendices
Appendices Recruit Holdings | FY2026 Q2 Results 32
Slide 33: Appendix: FY2026 Q2 and H1 Financial Results
Appendix: FY2026 Q2 and H1 Financial Results Q2 Actual H1 Actual (in billions of yen, unless otherwise stated) FY2025 FY2026 YoY FY2025 FY2026 YoY Exchange rate per US Dollar (yen) 147.4 159.1 - 145.9 159.2 - Revenue 914.7 1,094.6 +19.7% 1,793.5 2,139.9 +19.3% EBITDA+S 207.4 297.9 +43.6% 394.5 590.8
Slide 34: Appendix: Global HR Matching TAM in 2025
Appendix: Global HR Matching TAM in 2025 Total: $302 bn (in billions of USD) Job Advertising & $34 bn Talent Sourcing 求人広告及び採用ツール Temporary Staffing $105 bn $71 bn 人材派遣 Direct Hire 人材紹介 $24 bn Internal Recruitment $68 bn Retained Search Automation エグゼクティブサーチ 採用オートメーション Please see footnotes in the ap
Slide 35: Appendix: Overview of Segment FY2026 Full-year Outlook
Appendix: Overview of Segment FY2026 Full-year Outlook Revenue EBITDA+S and Margin % (in billions of yen) (in billions of yen) Staffing HRT HRT MMT MMT Staffing FY2025 Actual FY2026 Outlook FY2025 Actual FY2026 Outlook Please see footnotes in the appendix. Recruit Holdings | FY2026 Q2 Results 35
Slide 36: Appendix: FY2026 Q2 EBITDA+S
Appendix: FY2026 Q2 EBITDA+S (in billions of yen) FY2025 Q2 FY2026 Q2 YoY Operating income 159.7 258.3 +61.7% - Other operating income / (expenses), Net (18.2) (0.4) - Non-GAAP operating income 178.0 258.8 +45.3% + Depreciation and amortization 17.1 16.8 - EBITDA 195.2 275.6 +41.2% Margin % over Rev
Slide 37: Appendix: Number of Shares as of September 30, 2026
Appendix: The Number of Shares as of September 30, 2026 As of As of As of (in millions of shares) March 31, 2025 March 31, 2026 Sep. 30, 2026 Number of issued shares 1,563.9 1,472.5 1,472.5 Number of treasury stock Shares directly held by Recruit Holdings 36.4 28.8 44.4 Shares held by the Board Ince
Slide 38: Appendix: Gross Cash On A Consolidated Basis
Appendix: Gross Cash On A Consolidated Basis As of As of As of (in billions of yen) March 31, 2025 March 31, 2026 Sep. 30, 2026 Cash and cash equivalents 808.6 725.5 872.8 + Investments for available funds on standby for 15.1 42.3 115.4 business operations within other financial assets Gross cash 82
Slide 39: Appendix: Footnotes
Appendix: Footnotes Page 5,6,9,11,15-18,20-23,26,27,30,31,35 The foreign exchange rate assumptions for the FY2026 guidance and outlook as of August 7, 2026 are 159 yen per US dollar, 184 yen per Euro and 112 yen per Australian dollar. The foreign exchange rate assumptions for HR Technology's FY2026
Slide 40: Appendix: Footnotes
Appendix: Footnotes Page 19-21 US Average Revenue per Job Posting on Indeed (or US ARPJ) is calculated by dividing HR Technology US revenue in a given period by the average number of daily US job postings on Indeed during that period, as measured by the Indeed Hiring Lab, the economic research arm o
Slide 41: 免責条項
免責条項 将来見通しに関する注意事項 本資料には、将来の見通しに関する記述が含まれています。将来の見通しに関する記述には、別段の記載がない限り本資料の発表日現在における当 社が入手可能な情報並びに当社の計画及び見込みに基づいた当社の想定、将来の見通し及び推測が含まれますが、これらが達成される保証はありま せん。経済状況の変化、個人ユーザーの嗜好及び企業クライアントのニーズの変化、他社との競合、法令、ソフトロー又は実務慣行の変化を含む法規 制の変化、為替レートの変動、気候変動を含む地球環境の変化、大規模自然災害の発生その他の様々な要因により、将来の予測・見通しに関する記 述は実際の業績と大幅に異
Slide 42: Disclaimer
Disclaimer Forward-Looking Statements This material contains forward-looking statements, which reflect the Company’s assumptions, estimates and outlook for the future based on information available to the Company and the Company’s plans and expectations as of the date of this material unless the con