Pasona Group Inc. · TSE:2168
Pasona — H1 FY2025 Earnings Presentation
38 slides from Pasona's earnings presentation, Jan 22, 2026
Slide 1: Results for the First Half of the Fiscal Year Ending May 31, 2026
Results for the First Half of the Fiscal Year Ending May 31, 2026 H1 FY2025 (June 1, 2025 - November 30, 2025) Pasona Group Inc. Prime Market TSE (2168) January 22, 2026 www.pasonagroup.co.jp/English Pasona Heartful Inc. Haruka Nakamura [Hanaguruma]0
Slide 2: H1 FY2025 Results
H1 FY2025 Results ※ Units in billions of yen have been rounded to the nearest first decimal place. Units in millions of yen have been rounded down. Pasona Heartful Inc. Haruka Nakamura 「Tori no Ichi Rake」 1
Slide 3: Consolidated financial results
Consolidated financial results ⚫ Net sales increased in all segments except BPO Solutions, resulting in increased consolidated net sales. ⚫ Gross profit increased in all segments except Career Solutions. Gross profit margin rose by 0.8pt year-on-year. ⚫ Ordinary profit increased by ¥625 million comp
Slide 4: Operating Profit
Operating Profit ⚫ Gross profit margin improved (+0.8pt). ⚫ Personnel expenses increased due to higher retirement benefit expenses. ⚫ IT infrastructure usage fees have been revised, resulting in an increase in IT-related expenses. (Billions of yen) Operating Profit Gross profit [35.23] SG＆A Expenses
Slide 5: Non-operating/Extraordinary profit (loss)
Non-operating/Extraordinary profit (loss) ⚫ Non-operating profit: Recorded sponsorship money income and merchandise sales from Expo 2025 Osaka, Kansai, Japan. ⚫ Extraordinary losses: Recorded ¥969 million in temporary expenses related to pavilion operations, etc., as an extraordinary losses as Expo
Slide 6: Quarterly Trend (Q1 vs. Q2 Period Comparison)
Quarterly Trend（Q1 vs. Q2 Period Comparison） 【Q1 vs. Q2 Period Comparison】 ⚫ Gross profit margin +1.2pt / Gross profit +¥1.05 billion Q1 Q2 ⚫ Operating profit margin +1.2pt / Business days 63 days（±０） 60 days（(１)） Operating profit +¥ 0.9 billion Gross profit ⚫ Non-operating income +¥ 0.2 billion / m
Slide 7: Consolidated Results by Segment
Consolidated Results by Segment (Millions of yen) Net sales Operating profit (loss) Operating profit margin FY24 FY25 Increase/ FY24 FY25 Increase/ FY24 FY25 Increase/ Segment YoY YoY H1 H1 Decrease H1 H1 Decrease H1 H1 Decrease BPO Solutions ① 67,709 66,180 (1,528) (2.3)% (Contracting, Outsourcing)
Slide 8: Balance Sheets
Balance Sheets (Billions of yen) Increase/ Major Item of Increase/Decrease May 31,2025 Nov 31,2025 Decrease Major Item of Increase/Decrease Assets 265.0 237.1 (27.9) Current assets 188.9 150.1 (38.8) 【Cash and deposits】 Cash and deposits 124.8 88.4 (36.4) ・Decreased due to acquisition of fixed asset
Slide 9: Cash Flows
Cash Flows (Billions of yen) Major Item of Increase/Decrease H1 FY24 H1 FY25 Increase/ Major Item of Increase/Decrease Decrease Cash flows from operating activities (1.8) (6.6) (4.8) Profit (loss) before income taxes (2.4) (0.4) +2.0 Depreciation 1.3 1.4 +0.1 【Profit before depreciation and amortiza
Slide 10: Segment information
Segment information ※ Units in billions of yen have been rounded to the nearest first decimal place. Units in millions of yen have been rounded down. Pasona Heartful Inc. Haruka Nakamura 「Kirin Shishi2」 9
Slide 11: BPO Solutions (Contracting, Outsourcing)
①BPO Solutions (Contracting, Outsourcing) ⚫ Continued sales decline due to the peak-out effect of large-scale contracted projects ⚫ Gross profit margin: 21.9% (+0.9pt) ⚫ Expansion of the ProShare business (renamed from “KOMON Consulting”) 【Reference】 Net Sale , Gross Profit Margin Breakdown of Large
Slide 12: Expert Solutions (Temporary staffing)
②Expert Solutions (Temporary staffing) ⚫ Net sales increased despite temporary staffing levels matching the previous year's period, driven by factors such as higher unit prices. ⚫ The number of registrants has increased by double digits compared to the same period last year due to improved convenien
Slide 13: BPO Solutions / Expert Solutions
BPO Solutions ・ Expert Solutions ⚫ Gross profit margin improved for both BPO Solutions and Expert Solutions. ⚫ Operating profit decreased slightly due to an increase in SG&A expenses, including IT-related costs. Net Sales Operating Profit , Operating Profit Margin H1 (Billions of yen) Operating Prof
Slide 14: Career Solutions (Placement/Recruiting, Outplacement)
③Career Solutions (Placement/Recruiting , Outplacement ) ⚫ 【Placement/Recruiting】 Unit price of average referral fee increased. Productivity temporarily declined due to internal system replacement. ⚫ 【Outplacement】 Demand continues from companies advancing business restructuring. Negotiations for th
Slide 15: Global Solutions (Overseas Human Resource Services)
④Global Solutions (Overseas Human Resource Services) ⚫ 【North America】 In the United States, BPO services for accounting and payroll processing, as well as recruitment services, are expanding. ⚫ 【Asia】 In Taiwan, recruitment and BPO services are expanding, primarily in the semiconductor manufacturin
Slide 16: Life Solutions (Childcare support, Life support, etc.)
⑤Life Solutions (Childcare support, Life support, etc.) ⚫ Sales increased due to expanded operations of new after-school clubs and similar programs. Strengthened income and expenditure management for each facility. ⚫ The scale of contracted childcare support services, such as housekeeping assistance
Slide 17: Regional Revitalization and Tourism Solutions
⑥Regional Revitalization and Tourism Solutions ⚫ Facility attendance increased due to limited-time events (Demon Slayer: Kimetsu no Yaiba) and attractions popular overseas. ⚫ Character rooms at GRAND CHARIOT lodging facility are also popular. ⚫ Operating profit improved as a result of controlling se
Slide 18: Eliminations and Corporate
⑦Eliminations and Corporate ⚫ IT-related expenses increased due to revision of usage fees for the IT infrastructure deployed across the group. ⚫ To achieve the “PASONA GROUP VISION 2030” , we will advance efforts to optimize personnel allocation and review cost distribution, thereby strengthening co
Slide 19: FY2025 Forecasts
FY2025 Forecasts ※ Units in billions of yen have been rounded to the nearest first decimal place. Units in millions of yen have been rounded down. Pasona Heartful Inc. Haruka Nakamura 「Sagicho's Fighting Festival」 18
Slide 20: FY2025 Consolidated Forecasts (Disclosed on July 15, 2025)
FY2025 Consolidated Forecasts (Disclosed on July 15, 2025) Profit attributable Net Sales Operating Profit to owners of parent Excluding Benefit One YoY （Outsourcing Segment） +6.7% (Billions of yen) 366.1 372.6 356.7 325.0 334.5 330.0 YoY YoY 327.7 330.2 318.3 309.2 +3.7 95.89 +9.2 287.7 296.7 billio
Slide 21: FY2025 Consolidated Forecasts by Segment
FY2025 Consolidated Forecasts by Segment (Disclosed on July 15, 2025) (Millions of yen) Net sales Operating profit (loss) Operating profit margin FY25 Increase/ FY25 Increase/ FY25 Increase/ New Segment FY24 YoY FY24 YoY FY24 Forecast Decrease Forecast Decrease Forecast Decrease BPO Solutions ① 137,
Slide 22: Second-Half Business Strategy
Second-Half Business Strategy ※ Units in billions of yen have been rounded to the nearest first decimal place. Units in millions of yen have been rounded down. Pasona Heartful Inc. Haruka Nakamura 「Rabbit and Handball」 21
Slide 23: BPO Solutions ①
Second-Half Business Strategy BPO Solutions ① ⚫ We aim to improve gross profit margin through the strong performance of the ProShare business and the acquisition of high value-added projects, including X-TECH BPO. ⚫ The contact center business implemented recovery measures in the first half of the f
Slide 24: BPO Solutions ②
Second-Half Business Strategy BPO Solutions ② ⚫ Integrating the No.1 expense reimbursement system with proven BPO operational expertise to provide end-to-end support from digitalizing accounting operations to ensuring effective operation. ⚫ Offering a team-based BPO model that combines the problem-s
Slide 25: Regional Revitalization and Tourism Solutions ①
Second-Half Business Strategy Regional Revitalization and Tourism Solutions ① Although the third quarter includes a temporary shutdown due to winter maintenance, we plan to launch new services and renovations featuring popular anime and characters this spring. We will expand sales by implementing cu
Slide 26: Regional Revitalization and Tourism Solutions ②
Second-Half Business Strategy Regional Revitalization and Tourism Solutions ② ⚫ The opening of new lodging facilities will increase opportunities to visit multiple facilities on the island, including restaurants and attraction facilities. ⚫ January 2026: Grand opening of “San San Villa”; Completion
Slide 27: Legacy of Expo 2025 Osaka, Kansai, Japan
Legacy of Expo 2025 Osaka, Kansai, Japan ※ Units in billions of yen have been rounded to the nearest first decimal place. Units in millions of yen have been rounded down. Pasona Heartful Inc. Haruka Nakamura 「Ammonite26 2」
Slide 28: Legacy of Expo 2025 Osaka, Kansai, Japan ①
Legacy of Expo 2025 Osaka, Kansai, Japan ① Number of visitors 2.15 million people Number of visiting companies 3,017 companies Tree of Life Evolution Number of media reports※1,2 5,055 reports Media impact※2 Over ¥ 4.2 billion Pavilion Awards※3 （Corporate Sector） No.1 ※1：Including newspapers, televis
Slide 29: Legacy of Expo 2025 Osaka, Kansai, Japan ②
Legacy of Expo 2025 Osaka, Kansai, Japan ② Comprehensive business partnerships and a new company establishment from connections formed at Expo 2025 Osaka, Kansai, Japan H2O RETAILING CORPORATION S.T. CORPORATION Aiming to create a sustainable future Aiming to create a new Well-being society industry
Slide 30: Reference
Reference Pasona Heartful Inc. Haruka Nakamura 「Farm Restaurant Haru・Sansan」 The artwork used in this material is by Haruka Nakamura, an artist employee of Pasona Heartful Co., Ltd. Pasona Heartful Co., Ltd. established “Art Village” with the concept that “Talent knows no disability,” aiming to expa
Slide 31: Acquisition of Treasury Shares
Acquisition of Treasury Shares To enhance capital efficiency and implement flexible capital policies in response to the business environment, the Company has completed the acquisition of treasury shares resolved by the Board of Directors on January 14, 2025, as follows. １．Class of shares to be Commo
Slide 32: Quarterly Sales and Profit Trends
Quarterly Sales and Profit Trends (Billions of yen) Operating Profit Net Sales Margin Operating Profit Margin FY23 Operating Profit Margin FY24 (0.7)% 0.1% Operating Profit Margin FY25 0.6% (0.6)% 0.5% 0.0% (1.8)% 89.9 89.4 91.2 86.2 (0.1)% 80.3 76.3 77.0 77.6 77.6 75.0 1Ｑ 2Ｑ 3Ｑ 4Ｑ 0.0 3M 3M １Ｑ 3M 3
Slide 33: Quarterly Sales and Profit Trends by Segment
Quarterly Sales and Profit Trends by Segment (Millions of yen) (Millions of yen) Sales Operating profit (loss) Segment Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 YoY YoY Segment Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 YoY YoY BPO Solutions BPO Solutions ① 33,698 34,010 33,778 35,748 33,
Slide 34: H1 Key Indicators
H1 Key Indicators Net Sales and Operating Profit Margin Net Assets and Shareholders’ Equity Margin 19 .0 18 .0 17 .0 20 0. 0 54.4 49.4 16 .0 55 .0 Net Sales (Billions of yen) Net Assets (Billions of yen) 15 .0 14 .0 18 0. 0 13 .0 Operating Income Margin(%) 12 .0 11 .0 Shareholders' Equity Margin(%)
Slide 35: Full-Year Key Indicators
Full-Year Key Indicators Net Sales and Operating Profit Margin Net Assets and Shareholders’ Equity Margin Net Sales (Billions of yen) Net Assets (Billions of yen) Operating Profit Margin(%) Shareholders' Equity Margin(%) 50.9 6.0 6.0 49.3 3.9 2.9 3.3 1.5 1.6 2.1 1.9 (0.4) 23.7 22.7 25.2 24.5 22.2 20
Slide 36: Share Information (Including treasury share)
Share Information (Including treasury share) Breakdown of Shareholders by Type Breakdown of Shareholders by Number of Share Held Financial companies Treasury F inancial (As of Nov. 30, 2025) share 18 companies 1,918,906 0.05% 4,830,128 Treasury share Securities companies 4.77% S ecurities 12.02% 1 2
Slide 37: Major Group Companies (by segment)
Major Group Companies（by segment） BPO Solutions (Contracting, Outsourcing) Expert Solutions (Temporary staffing) Career Solutions (Placement/Recruiting, Outplacement) Pasona Inc. Pasona Nihon Somubu Co., Ltd. Doinet Co., Ltd. Pasona Inc. Bewith, Inc. Pasona Heartful Inc. Pasona Joinus Inc． PASONA LO
Slide 38: Corporate Information
Corporate Information Corporate Name Pasona Group Inc. Comprehensive Group office Shin Marunouchi Bldg. Minami-Aoyama 3-1-30 Minato-ku, Headquarters 1-5-1, Marunouchi, Chiyoda-ku, Tokyo 107-8351 Tokyo 100-6514 Phone 03-6734-0200 December 3, 2007 Established (Founding February 1976) Paid-in Capital 5