Recruit : Financial Document (Recruit 202703Q1 presentation en)

About this update from Recruit Holdings Co., Ltd.

Recruit Holdings FY2026 Q1 Consolidated Results 2027年3月期 第1四半期決算説 明 August 7, 2026 FY2025 is the fiscal year from April 1, 2025 to March 31, 2026. FY2026 is the fiscal year from April 1, 2026 to March 31, 2027. All comparisons during this conference call are year over year unless otherwise stated. Unless otherwise specified, numbers shown to the first decimal place are rounded down to the second decimal place, and numbers shown as integers are rounded down to the first decimal place. 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 English 日本語 Please refer to the QR code below for our company 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 English 日本語 Envalith社のレポートは、当社の依頼に基 づき作成されたものですが、リサーチ会社の独立した視点から、客観的かつ中立的な調査・分析が行われております。なお、いずれも情報提供が目的であり、当社株式の取引の推奨を目的とするものではありません。 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 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 Table of Contents Consolidated FY2026 Q1 Summary Financial Results Consolidated FY2026 Full-year Revised Guidance HR Technology Segment FY2026 Q1 Results and Full-year Outlook Staffing Segment FY2026 Q1 Results and Full-year Outlook Marketing Matching Technologies ("MMT") Segment FY2026 Q1 Results and Full-year Outlook Revenue EBITDA+S and Margin % Basic EPS (i n 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 Revenue EBITDA+S and Margin % Basic EPS (i n trillions of yen ) (in billions of yen) (yen) FY2026 Guidance FY2026 Guidance FY2026 Guidance JPY / USD 05/15/26 08/07/26 152.6 150.7 154.0 159.0 05/15/26 08/07/26 05/15/26 08/07/26 Segment Breakdown - Revenue, EBITDA+S and EBITDA+S Margin % Revenue Breakdown Segment EBITDA+S Margin % (in billions of yen) MMT 181.5 30.0% Staffing 102.5 5.6% HR Technology 834.0 45.8% MMT 605.0 HR Technology 1,822.0 Staffing 1,831.0 Gross Profit (in billions of yen) Pre-corporate EBITDA+S Breakdown and 3. HR Technology Segment 3. HR Technology Segment FY2026 Full-year Revised Segment Outlook Revenue in US dollar Revenue in Japanese Yen EBITDA+S and Margin % (i n millions of dollars ) (in billions of yen) (in billions of yen) Japan Europe & Others US Pro Forma Actual FY2026 Outlook 05/15/26 08/07/26 FY2026 Outlook 05/15/26 08/07/26 FY2026 Outlook 05/15/26 08/07/26 JPY / USD Please see footnotes in the appendix. 152.6 150.7 154.0 159.0 Recruit Holdings | FY2026 Q1 Results 9 3. HR Technology Segment FY2026 Full-year Revised Segment Outlook - Revenue Breakdown by Region FY2025 Actual and FY2026 Outlook FY2026 Revised Outlook and % of Total (in millions of dollars) (in millions of dollars) Total: į11,485 US Europe Japan į2,315 (20.2%) Europe & Others į2,520 (21.9%) US į6,650 (57.9%) & Japan Others FY2025 Actual FY2026 Outlook 05/15/26 08/07/26 In US dollar In Japanese Yen (in millions of dollars) YoY (in billions of yen) YoY Japan Europe & Others US FY2024 Pro Forma FY2025 FY2026 FY2024 Pro Forma FY2025 FY2026 EBITDA and Margin % EBITDA+S and Margin % YoY (in billions of yen) YoY (in billions of yen) FY2024 Pro Forma FY2025 FY2026 FY2024 Pro Forma FY2025 FY2026 Total US Revenue: US ARPJ = 米国平均単 価 and Other Revenue Sponsored Job Revenue Total # of US Job Postings: Total # of free and paid job postings on US Indeed Indexed Jobs aggregated by Indeed from employer websites and other sources across the internet Hosted Jobs posted directly on Indeed by business clients and ATTRACT Performance Advertising ENGAGE Sourcing & Branding HIRE Screening & Automation Everything in Standard Plus Advanced Matching Interview on Demand Premium Sponsored Jobs Priced above Standard First Page Visibility Boost Job Branding Location Targeting Tech & Specialty Network Reach Urgently Hiring Label AI-Generated Messages AI Candidate Highlights Matched Candidates Invite-to-Apply Standard Boosted Visibility Automatic Replies Screener Questions Free Organic Visibility US Quarterly Revenue, IHL US NSA JPI and US ARPJ Growth Rates IHL US NSA JPI: Historical (February 2020 - June 2026) (in millions of dollars) Historical IHL US NSA JPI US ARPJ Growth Rates (Index to 100 on Feb 1, 2020) 175 150 125 100 75 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 FY2026 3. HR Technology Segment US Annual Revenue Outlook IHL US NSA JPI: Historical (Apr. 2020 - Apr. 2026) and Assumed FY2026 (in millions of dollars) Historical IHL US NSA JPI RHC assumed FY2026 Index US ARPJ Growth Rates (Index to 100 on Feb 1, 2020) 150 125 100 -7% -4% 75 50 Outlook Quarterly Results Annual Results and Outlook +30% (in millions of dollars) (in millions of dollars) +18% YoY Historical IHL US NSA JPI US ARPJ Growth Rates YoY +17% YoY -7% -4% -4% FY2024 FY2024 FY2025 FY2026 FY2025 FY2026 Outlook 05/15/26 08/07/26 Quarterly Results Annual Results and Outlook YoY YoY (in millions of dollars) (in millions of dollars) YoY FY2024 FY2025 FY2026 FY2026 Outlook 05/15/26 08/07/26 Quarterly Results YoY Annual Results and Outlook FY2026 Outlook 05/15/26 08/07/26 (in billions of yen) (in billions of yen) YoY YoY FY2024 Pro Forma FY2025 FY2026 Pro Forma Total: į302 bn (in billions of USD) į34 bn Job Advertising & Talent Sourcing 求人広告及び採 用ツール Temporary Staffing 人材派遣 Internal Recruitment Automation 採用オートメーシ ョン Please see footnotes in the appendix. į105 bn į68 bn į71 bn į24 bn Direct Hire 人材紹介 Retained Search エグゼクティブサ ーチ Recruit Holdings | FY2026 Q1 Results 20 Staffing Segment (in billions of yen) YoY FY2024 FY2025 FY2026 EBITDA+S and Margin % FY2024 FY2025 FY2026 Revenue (in billions of yen) YoY Europe US Australia Japan (in billions of yen) YoY YoY Europe, US, Australia Japan FY2026 Outlook 05/15/26 08/07/26 Revenue EBITDA+S and Margin % (in billions of yen) YoY YoY FY2026 Outlook 05/15/26 08/07/26 MMT Segment Vertical Matching Platforms Vertical Individual Users Recruit ID 99 million 1 Loyalty Points Matching Platforms GMV Increase with AI AI Enhancement Matching Unique Data through Fulfillment Business Clients 980,000 2 SaaS with Unique Data FY2025 Full-year Revenue by Subsegment (in billions of yen) MMT Total ¥564.6 Bn Others (Automobile, Bridal, Education, and Others) ¥113.8 Bn Housing & Real Estate ¥156.9 Bn Beauty ¥126.2 Bn Travel, Dining, and SaaS solutions ¥167.6 Bn Lifestyle ¥293.8 Bn Automobile Division Historical Revenue (in billions of yen) FY2026 Q1 Results Revenue (in billions of yen) YoY Others Housing & Real Estate Lifestyle (Beauty, Dining, Travel, SaaS) FY2024 FY2025 FY2026 EBITDA+S and Margin % (in billions of yen) YoY FY2024 FY2025 FY2026 EBITDA+S and Margin % (in billions of yen) YoY YoY 05/15/26 08/07/26 FY2026 Outlook FY2026 Annual Outlook Revenue YoY YoY (in billions of yen) Others Housing & Real Estate Lifestyle (Beauty, Dining, Travel, SaaS) 05/15/26 08/07/26 FY2026 Outlook Appendices Appendix: Consolidated FY2026 Full-year Revised Guidance Q1 Actual FY2025 Full-year FY2026 Full-year Guidance (in billions of yen, unless otherwise stated) FY2025 FY2026 YoY Actual 05/15/26 YoY 08/07/26 YoY Exchange rate per US Dollar (Yen) 144.4 159.3 - 150.7 154.0 - 159.0 - Revenue 878.8 1,045.3 +18.9% 3,697.3 4,030.0 +9.0% 4,230.0 +14.4% EBITDA+S 187.1 292.8 +56.5% 794.3 949.0 +19.5% 1,105.0 +39.1% EBITDA+S margin % 21.3% 28.0% - 21.5% 23.5% - 26.1% - EBITDA 163.5 272.3 +66.6% 730.5 869.0 +19.0% 1,025.0 +40.3% EBITDA margin % 18.6% 26.1% - 19.8% 21.6% - 24.2% - Profit attributable to owners of the parent 120.9 202.6 +67.5% 496.9 623.0 +25.4% 755.0 +51.9% Basic EPS (yen) 83.97 145.48 +73.2% 349.78 447.00 +27.8% 543.00 +55.2% Appendix: Overview of Revised Segment FY2026 Full-year Outlook Revenue EBITDA+S and Margin % (in billions of yen) (in billions of yen) Staffing HRT HRT MMT FY2025 Actual FY2026 Outlook MMT Staffing FY2026 Outlook FY2025 Actual (in billions of yen) FY2025 Q1 FY2026 Q1 YoY Operating income 153.7 255.4 +66.1% - Other operating income / (expenses), Net 6.9 1.0 - Non-GAAP operating income 146.7 254.3 +73.3% + Depreciation and amortization 1 16.7 17.9 - EBITDA 163.5 272.3 +66.6% Margin % over Revenue 18.6% 26.1% - Margin % over Gross profit 31.3% 42.3% - + Share-based payment expenses 23.6 20.5 - EBITDA+S 187.1 292.8 +56.5% Margin % over Revenue 21.3% 28.0% - Margin % over Gross profit 35.9% 45.5% - (in millions of shares) As of March 31, 2025 As of March 31, 2026 As of June 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 35.5 Shares held by the Board Incentive Plan trust and the ESOP trust 60.7 47.4 44.8 Total number of treasury stock 97.1 76.2 80.3 Number of issued shares excluding treasury stock 1,466.7 1,396.2 1,392.1 (in billions of yen) As of March 31, 2025 As of March 31, 2026 As of June 30, 2026 Cash and cash equivalents 808.6 725.5 853.0 + Investments for available funds on standby for business operations within other financial assets 15.1 42.3 55.5 Gross cash 823.8 767.9 908.5 Page 6,7,9,10,16-19,23,29,31,32 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. Page 5,6,7,9,12,22,23,28,29,31,32,33 EBITDA+S = operating income + depreciation and amortization (excluding depreciation of right-of-use assets) + share-based payment expenses ± other operating income/expenses EBITDA = operating income + depreciation and amortization (excluding depreciation of right-of-use assets) ± other operating income/expenses Page 7 The sum of the three segments, including the pie charts, does not correspond with consolidated revenue and EBITDA+S due to adjustments, such as intra-group transactions. Page 13,15,16,17 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 of Indeed. US ARPJ growth rate is the year over year change in US ARPJ. The Indeed Job Postings Index (JPI) is a representation of all jobs on US Indeed, excluding those that do not meet certain Hiring Lab quality and relevancy standards, and is intended to provide a consistent and reliable measure of US job posting trends over time. Data on non-seasonally adjusted Indeed job postings are an index of the number of job postings on a given day, using a seven-day trailing average. The index is set to 100 on February 1, 2020. Data for several dates in 2021 and 2022 are missing and were interpolated. We regularly review and update our methodology of JPI for such reasons as the evolution of labor market and Indeed's platform, which may apply retrospectively to historical JPI data and US ARPJ growth rate. These figures in this presentation are based on the latest data as of the date hereof. Page 20 See our Annual Report for FY2025. Page 9,11,12,19 As of April 1, 2025, HR Solutions of Matching & Solutions was transferred to HR Technology, and Matching & Solutions was renamed Marketing Matching Technologies from FY2025. The pro forma results were calculated assuming that the above transfer had been effective on April 1, 2024, and the consolidated guidance and quarterly actual results for each segment for FY2025 are shown in comparison with the pro forma results for FY2024. The calculation of pro forma results reflects adjustments to inter-segment internal revenue and corporate overhead costs in Matching & Solutions. As a result, there are slight differences between FY2024 actual results and the pro forma results other than HR Technology Japan and Marketing Matching Technologies. Page 14 All listed features' terms, conditions, quality standards, and usage limits apply. Feature availability may vary by job and by market, and is subject to change at Indeed's discretion. Interview on Demand is currently in beta and available exclusively in the U.S. as a feature of Hosted Premium Sponsored Jobs. Final product packaging and commercialization strategy are under review and may be subject to change. Page 25 1 The total number of RECRUIT IDs (as of March 2026) 2 The cumulative number of listed stores and business locations as of March, 2026, in Beauty, Travel, Dining, Housing & Real Estate, Automobile, Bridal, and Education verticals, combined with the total number of stores and business locations using SaaS solutions (if a single store uses multiple services, it is counted for each service). Page 27 The images and vehicles shown are examples and may differ from actual listings. Page 33 1 Excluding depreciation of right-of-use assets. Page 35 Gross cash = cash and cash equivalents + Investments for available funds on standby for business operations within other financial assets 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なる場合があります。したがって、将来見通しに関する記述に過度に依拠することのないようお願いします。当社は、適用される法令又は証券取引所の規則により要求される場合を除き、本資料に含まれるいかなる情報についても、今後生じる事象に基づき更新又は改訂する義務を負うものではありません。 外部資料に関する注意事項 本資料には、当社が事業を行っている市場に関する情報を含む、外部の情報源に由来し又はそれに基づく情報が記述されています。これらの記述は、本資料に引用されている外部の情報源から得られた統計その他の情報に基づいており、それらの情報については当社は独自に検証を行っておらず、その正確性又は完全性を保証することはできません。 本資料の利用に関する注意事項 本資料は、一般的な参考情報の提供のみを目的に作成されたものです。本資料及び その記載内容について、第三者が、当社の書面による事前の同意なしに、その他の目的で公開し又は利用することはできません。当社は、本資料に含まれる情報の正確性又は完全性について表明するものではなく、本資料の使用から生じるいかなる損失又は損害についても責任を負いません。 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 context otherwise indicates. There can be no assurance that the relevant forward-looking statements will be achieved. Please note that significant differences between such forward-looking statements and actual results may arise due to various factors, many of which are outside the Company's control, including changes in economic conditions, changes in individual users' preferences and business clients' needs, competition, changes in the legal and regulatory environment including changes in laws and regulations or guidance, interpretation, enforcement or practice relating to laws and regulations, fluctuations in foreign exchange rates, climate change or other changes in the natural environment, the occurrence of large-scale natural disasters, and other factors. Accordingly, readers are cautioned against placing undue reliance on any such forward-looking statements. The Company has no obligation to update or revise any information contained in this material based on any subsequent developments except as required by applicable law or stock exchange rules and regulations. Third-Party Information This material includes information derived from or based on third-party sources, including information about the markets in which the Company operates. These statements are based on statistics and other information from third-party sources as cited herein, and the Company has not independently verified and cannot assure the accuracy or completeness of any information derived from or based on third-party sources. Notes Of This Material This material has been prepared for the sole purpose of providing general reference information. Neither this material nor any of its contents may be disclosed or used by any third party for any other purpose without the prior written consent of the Company. The Company makes no representation as to the accuracy or completeness of the information contained in this material and shall not be liable for any loss or damage arising from the use of this material. Recruit Holdings | FY2026 Q1 Results

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