Briefing on Consolidated Financial
Results for the Fiscal Year

Ended March 31, 2017

Temp Holdings Co., Ltd.
May 15, 2017

Copyright © since 2016 Temp Holdings Co., Ltd. All Rights Reserved.

2017/3 : Summary of Consolidated Business Results
Achieved the highest results due to steady growth(Unit: million yen)

2017/3 Results

2016/3 Results

2017/3 Forecasts
Full Year

Achievementrate（％）+14.4

590,000

100.3

24.1

+16.3

-

-

43,433

7.3+19.3

42,730101.6

5.4

33,4095.6+19.1

32,500102.8

3.4

17,8203.0+2.7

17,100104.2

Full Year

Ratio(%)

Full Year

Ratio(%)

Sales

517,597100.0

591,995

100.0

Gross Profit

122,647

23.7

142,608

EBITDA*

36,4087.0

OP income

28,052

Profit attributableto owners ofparent17,356

YoY(%)*Rounded down (same as following pages) *EBITDA = OP income + Depreciation + Amortization of Goodwill(same as following pages)
Copyright © since 2016 Temp Holdings Co., Ltd. All Rights Reserved.

1

2017/3 : Sales Analysis
Contribution from increase in the revenues from the existing businesses,
in addition to the M&A(Unit: billion yen)

-3.0
+32.5
+1.9

+2.5

+4.3

+2.6

+33.2

591.9

517.5
M&A*
＋32.5
billion yen

Increase in OP income due to organic growth*+44.8 billion yen

2016/3Results

Temporary
Staffing/BPO＊

ITO*Engineering

Recruiting

Others

M&A

Adjustments

2017/3Results*M&A targets:P&P Holdings(July 2015), Medicross(October 2015), Capita(January 2016), First Alliances(April 2016), Kelly Services (Singapore) Pte. Ltd.(October 2016)(dates in parentheses indicate the year and month of consolidation as subsidiaries)*M&A effect:The figures are shown the financial results composed of the new companies by M&A. (Internal transactions have not been eliminated)*Organic growth (existing businesses):The figures are shown the financial results excluding the new companies by M&A. (Internal transactions have not been eliminated)*BPO：Business Process Outsourcing, ITO：IT Outsourcing (same as following pages)
Copyright © since 2016 Temp Holdings Co., Ltd. All Rights Reserved.

2

2017/3 : Sales by Segment
Continuous steady growth in each segment

2016/3 Results
Full Year
Temporary
Staffing/BPO(Unit: million yen)

2017/3 Results
Full Year2017/3 Forecasts

YoY(%)

Full Year

Achievementrate（％）

401,854440,678+9.7

436,000

101.1

ITO

24,701

26,646+7.9

27,00098.7

Engineering

24,07026,668+10.8

26,000102.6

Recruiting

71,792103,242+43.8

105,000

98.3

Others

4,102

6,756

+64.7

6,500

103.9

Adjustment-8,922-11,997--10,500-

517,597

591,995+14.4

590,000

100.3

Total

*Internal transactions have not been eliminated from the figures.
Copyright © since 2016 Temp Holdings Co., Ltd. All Rights Reserved.

3

2017/3 : EBITDA Analysis
Increase in sales due to organic growth(Unit: billion yen)
+0

+0.6

-0.4

+2.5
+0.1

+0.4

+3.6

43.4

36.4
M&A*
+0.6
billion yen

Increase in OP income due to organic growth*+6.8 billion yen

2016/3Results

Temporary
Staffing/BPO*M&A targets*M&A effect*Organic growth (existing businesses)

ITO

Engineering

Recruiting

Others

M&A

Adjustments

2017/3Results:P&P Holdings(July 2015), Medicross(October 2015), Capita(January 2016), First Alliances(April 2016), Kelly Services (Singapore) Pte. Ltd.(October 2016)(dates in parentheses indicate the year and month of consolidation as subsidiaries):The figures are shown the financial results composed of the new companies by M&A. (Internal transactions have not been eliminated):The figures are shown the financial results excluding the new companies by M&A. (Internal transactions have not been eliminated)
Copyright © since 2016 Temp Holdings Co., Ltd. All Rights Reserved.

4

2017/3 : EBITDA Analysis
Achieved the highest results due to steady growth

2016/3 Results
Full Year
Temporary
Staffing/BPO(Unit: million yen)

2017/3 Results
Full Year2017/3 Forecasts

YoY(%)

Full Year

Achievementrate（％）

20,21723,808+17.8

23,550

101.1

ITO

2,615

2,747

+5.1

2,760

99.6

Engineering

2,086

2,539

+21.7

2,640

96.2

Recruiting

10,307

13,518+31.1

13,320

101.5

157

243

+54.6

282

86.3

1,022

576

-

178

-

36,40843,433+19.3

42,730101.6

OthersAdjustment

Total*Internal transactions have not been eliminated from the figures.
Copyright © since 2016 Temp Holdings Co., Ltd. All Rights Reserved.

5

2017/3 : OP income Analysis
Increase in sales due to organic growth+0(Unit: billion yen)
-0.4

-0.5

+2.1
+0.2

+0.4

+3.4

33.4

28.0
M&A*
-0.4
billion yen

Increase in OP income due to organic growth*+6.3 billion yen

2016/3Results

Temporary
Staffing/BPO*M&A targets*M&A effect*Organic growth (existing businesses)

ITO

Engineering

Recruiting

Others

M&A

Adjustments

2017/3Results:P&P Holdings(July 2015), Medicross(October 2015), Capita(January 2016), First Alliances(April 2016), Kelly Services (Singapore) Pte. Ltd.(October 2016)(dates in parentheses indicate the year and month of consolidation as subsidiaries):The figures are shown the financial results composed of the new companies by M&A. (Internal transactions have not been eliminated):The figures are shown the financial results excluding the new companies by M&A. (Internal transactions have not been eliminated)
Copyright © since 2016 Temp Holdings Co., Ltd. All Rights Reserved.

6

2017/3 : OP income Analysis
Achieved the highest results due to steady growth

2016/3 Results
Full Year
Temporary
Staffing/BPO(Unit: million yen)

2017/3 Results
Full Year2017/3 Forecasts

YoY(%)

Full Year

Achievementrate（％）

17,45920,747+18.8

20,500

101.2

ITO

1,857

2,095

+12.8

2,000

104.8

Engineering

1,532

1,979

+29.1

2,000

99.0

Recruiting

6,612

8,494

+28.5

8,600

98.8

Others

141

188

+33.3

200

94.4

Adjustment

448

-96

-

-800

-

28,05233,409+19.1

32,500

102.8

Total

*Internal transactions have not been eliminated from the figures.
Copyright © since 2016 Temp Holdings Co., Ltd. All Rights Reserved.

7

2017/3 : Consolidated Balance Sheets
As of March 31, 2016
Results
Assets

As of March 31, 2017

Ratio(%)

Results

Ratio(%)

Change(Unit: million yen)

236,238100.0

268,364

100.0+32,125

130,61155.3

165,240

61.6+34,629<Cash and deposits>(Cash and deposits)

51,22721.7

69,43925.9+18,212

Increased due to an increase in profit(Notes and accounts
receivable - trade )69,52429.4

83,26031.0+13,736

105,62744.7

103,12338.4-2,50380,412

34.0

73,55727.4-6,855

102,73743.5

114,54742.7+11,80967,482

28.6

87,91332.8+20,431

5,427

2.3

5,053

1.9

-373

Non-current liabilities

35,255

14.9

26,6349.9-8,621(Long-term loans payable)

24,993

10.6

20,426

7.6-4,566(Convertible bond-type bondwith stock acquisition rights)

851

0.4

31

0.0

-820

133,501

56.5

153,81657.3+20,315

127,205

53.8

139,11951.8+11,914(Capital stock)

17,055

7.2

17,465

6.5+410(Capital surplus)

20,5208.7

20,156

7.5-364(Legal retained earnings)

88,13437.3

102,432

38.2+14,298

Minority interests

6,295

2.7

14,696

5.5+8,401

Current assets

Non-current assets(Right of trademark and goodwill)

Liabilities
Current liabilities(Current portion of loans payable)

Net assets
Owners' capital＜Right of trademark and goodwill＞
Decrease :Depreciation, Detrition
Foreign exchange
Increase : M&A*

＜Current liabilities＞
Increase in account payable, unpaid
corporation tax etc.

＜Convertible bond-type bond with stockacquisition rights＞
Decrease by conversion<Capital stock and capital surplus>
Increase due to conversion of the bond<capital surplus>
Decrease by the share of M&A* sale
＜Minority interests＞
Increase by M&A*

*M&A : Based on a joint venture agreement with Kelly Services, Inc. to expand business in the Asia-Pacific region, we have acquired 51% of Kelly Services (Singapore) Pte. Ltd. shares.
Copyright © since 2016 Temp Holdings Co., Ltd. All Rights Reserved.

8

2017/3 : Consolidated Cash Flow
2016/3Full Year
Results(Unit: million yen, %)Net cash provided byoperating activities

Net cash used ininvestment activities

Net cash used infinancing activities
Increase (decrease) incash and cash
equivalents

Cash and cash
Equivalents
at end of year

Full Year
Results
13,279-15,065-7,213-9,066

51,138

Income before income taxes
and minority interests

2017/3

2016/3Full Year
Results
39,617-9,708-11,655

18,24369,382

Change26,337

5,357-4,442

27,31018,2432017/3Full year
Results

28,982⇒30,200

Impairment loss

392

⇒

4,760

Depreciation andamortization

3,061

⇒

3,988

Amortization of goodwill

5,294

⇒

6,035

-5,864⇒-7,0172,370⇒

13,371-9,407⇒

1,375-2,791⇒-5,640-10,457⇒-2,518Purchase of treasury
stock

-11

⇒

-3,001

Cash dividends paid

-2,721⇒-3,522

Decrease (increase) in notes
and accounts receivabletrade
Increase (decrease) in
operating debt
Increase (decrease) in
consumption tax payable
Purchase of intangible
assetsPurchase of investments in
subsidiaries(resulting in changeof scope of consolidation)

Copyright © since 2016 Temp Holdings Co., Ltd. All Rights Reserved.

9

2017/3 Transition of Business Results by Segments ① Temporary Staffing/BPO+9.7%(Unit: billion yen)

2017/3：Highlights
Demand from client companies remained strong(Increase in sales due to organic growth:8.4%, M&A effect: 1.3％)+17.8%+18.8%
401.8<Temporary Staffing division>• Demand for temporary staff remains strong due to the Work-style-reform
among the clients companies• Increased in operating income due to the revenue growth which exceeds
increase in the costs such as personnel expenses, social insurance premiums,
etc.

440.6
20.2

23.8

17.4

20.7

<BPO division>• Profit margin slightly decreased due to the launch of some new projects

Sales

EBITDAOP income2016/3 Results
Full Year(Unit: million yen)
2017/3 Results

Full Year2017/3 Forecasts
Full Year

YoY(%)

Achievementrate（％）

Sales

401,854440,678+9.7

436,000

101.1

EBITDA

20,21723,808+17.8

23,550

101.1

5.0

5.4

-

5.4

-

17,45920,747+18.8

20,500

101.2

4.3

4.7

-

4.7

-

Copyright © since 2016 Temp Holdings Co., Ltd. All Rights Reserved.

10

EBITDA margin (%)
OP incomeOP income ratio (%)*Internal transactions have not been eliminated from the figures*See the "Factbook (Fiscal year 2017)" released on the website on the same date for the quarterly results2017/3 Transition of Business Results by Segments ② ITO+7.9%(Unit: billion yen)

2017/3：Highlights• Demand for IT system and SI-related services from clientcompanies remained solid

+5.1%
24.7

+12.8%

26.6
2.6

2.7
1.8

Sales

• Achieved high sales growth due to the increase in the highvalue-added PJ such as SI-related service, the sales marketing
service and a delivery of the system for the company which
belongs to the Temp-group

EBITDA

2.0• OP income ratio improved due to the end of some goodwill
amortization

OP income2016/3 Results
Full Year(Unit: million yen)
2017/3 Results

Full Year2017/3 Forecasts
Full Year

YoY(%)

Achievementrate（％）

Sales

24,701

26,646+7.9

27,00098.7

EBITDA

2,615

2,747

+5.1

2,760

99.6

EBITDA margin (%)

10.6

10.3

-

10.2

-

OP income

1,857

2,095

+12.8

2,000

104.8

7.5

7.9

-

7.4

-

Copyright © since 2016 Temp Holdings Co., Ltd. All Rights Reserved.

11

OP income ratio (%)*Internal transactions have not been eliminated from the figures*See the "Factbook (Fiscal year 2017)" released on the website on the same date for the quarterly results2017/3 Transition of Business Results by Segments ③ Engineering+10.8%(Unit: billion yen)

2017/3：Highlights• Demand from the automobile industries remained solid+21.7%
24.0• In addition to the increase in value-added high contract duties
ratio, a rise in mean unit price contributes to profitability
improvement+29.1%

26.6
2.0

Sales

2.5
1.5

EBITDA• New technology development and technical training sessions forthis segment were conducted across the segment

1.9

OP income2016/3 Results
Full Year(Unit: million yen)
2017/3 Results

Full Year2017/3 Forecasts
Full Year

YoY(%)

Achievementrate（％）

Sales

24,07026,668+10.8

26,000102.6

EBITDA

2,086

2,539

+21.7

2,640

96.2

8.7

9.5

-

10.2

-

1,532

1,979

+29.1

2,000

99.0

6.4

7.4

-

7.7

-

Copyright © since 2016 Temp Holdings Co., Ltd. All Rights Reserved.

12

EBITDA margin (%)
OP incomeOP income ratio (%)*Internal transactions have not been eliminated from the figures*See the "Factbook (Fiscal year 2017)" released on the website on the same date for the quarterly results2017/3 Transition of Business Results by Segments ④ Recruiting+43.8%

2017/3：Highlights(Unit: billion yen)

Demand from client companies remained strong, placement business driven thegrowth. In addition, the expansion of business scope by the Joint Venture with
Kelly Services, Inc. contributed to the figures+31.1%
103.2＜Domestic business＞• Job openings recorded the highest for consecutive 28 months(DODA research)• Personnel reinforcement and promotional investment to meet the demands• Investment in enhancing product values and functions of “an” and “LINE Baito(part-time jobs)”, “DODA”+28.5%

71.7
10.3

Sales

13.5
6.6

EBITDA＜Overseas business＞• M&A companies contributed to high sales growth└ Capita Pte. Ltd. (January 2016~)└ Kelly Services(Singapore) Pte. Ltd. (October 2016~）

8.4

OP income2016/3 Results
Full Year(Unit: million yen)
2017/3 Results

Full Year2017/3 Forecasts
Full Year

YoY(%)

Achievementrate（％）

Sales

71,792103,242+43.8

105,000

98.3

EBITDA

10,307

13,518+31.1

13,320101.5

EBITDA margin (%)

14.4

13.1

-

12.7

-

OP income

6,612

8,494

+28.5

8,600

98.8

9.2

8.2

-

8.2

-

Copyright © since 2016 Temp Holdings Co., Ltd. All Rights Reserved.

13

OP income ratio (%)*Internal transactions have not been eliminated from the figures*See the "Factbook (Fiscal year 2017)" released on the website on the same date for the quarterly results2017/3 Transition of Business Results by Segments ⑤ Others／Adjustment(Unit: million yen)
Others2017/3 Results

2016/3 Results
Full Year

Full Year2017/3 Forecasts
Achievementrate（％）

Full Year

YoY(%)

Sales

4,102

6,756

+64.7

6,500

103.9

EBITDA

157

243

+54.6

282

86.3

EBITDA margin (%)

3.8

3.6

-

4.3

-

OP income

141

188

+33.3

200

94.4

OP income ratio (%)

3.5

2.8

-

3.0

-

(Unit: million yen)
Adjustment

2017/3 Results

2016/3 Results
Full Year

Full Year2017/3 Forecasts
Achievementrate（％）

Full Year

YoY(%)

Sales-8,922-11,997--10,500-

EBITDA

1,022

576

-

178

-

-

-

-

-

-

448

-96

-

-800

-

-

-

-

-

-

EBITDA margin (%)

OP incomeOP income ratio (%)*Internal transactions have not been eliminated from the figures*See the "Factbook (Fiscal year 2017)" released on the website on the same date for the quarterly results*Others include our group functional services, education and training business, employment support business for people with disabilities, and childcare business*Adjustment stands for elimination of transactions between segments, and revenue and expenses of Temp Holdings Co., Ltd.
Copyright © since 2016 Temp Holdings Co., Ltd. All Rights Reserved.

14

Separate Oversea business for an individual segment
Due to the growing importance in our business, we separate oversea business from 2018/3
We will invest in workforce, system, and organization this year
2018/3～
5 segments

2017/3
4 segments

1

Temporary
Staffing/BPO

2

1

2
ITO

3

3
Engineering

44
Recruiting

Sales Forecasts(billion yen)Temporary
Staffing/BPO

485.4

Recruiting

78.1

Overseas

63.1

ITO

29.4

Engineering

28.1(Overseas)

5

Current events
By expanding business scope, we
aim to be a global human resources
company＋
Future plan
We will invest in each area for future
growth・ Invest in workforce and system
・ Improve productivity by integratingorganization and system
Copyright © since 2016 Temp Holdings Co., Ltd. All Rights Reserved.

15

2018/3 Consolidated forecasts of Results(Unit: million yen)
2018/3 Forecasts

2017/3 Results
1st Half

Ratio
(%)

Full year

Ratio
(%)

1st Half

Ratio
(%)

YoY
(%)

Full year

Ratio
(%)

YoY
(%)

Sales

276,790100.0

591,995

100.0

324,000

100.0

＋17.1

677,300

100.0

＋14.4

EBITDA

21,5707.8

43,433

7.3

20,9926.5-2.7

47,1087.0+8.5

OP income

16,6606.0

33,4095.6

15,8004.9-5.2

36,000

5.3＋7.8

Profitattributableto owners ofparent9,865

3.6

17,820

3.0

9,900

3.1

＋0.4

22,2003.3＋24.6

Copyright © since 2016 Temp Holdings Co., Ltd. All Rights Reserved.

16

2018/3 Consolidated forecasts of Results：Sales by Segment(Units :million yen,％)
2018/3 Forecasts

2017/3 Results
1st Half

Ratio
(%)

Full year

Ratio
(%)

1st Half

Ratio
(%)

YoY
(%)

Full year

Ratio
(%)

YoY
(%)

Temporary
Staffing/BPO

214,50377.5

440,678

74.4

234,900

72.5

＋9.5

485,400

71.7

＋10.1

Recruiting

31,992

11.6

66,13411.2

36,000

11.1

+12.5

78,100

11.5

＋18.1

Overseas

7,406

2.7

37,108

6.3

29,8009.2+302.4

63,100

9.3

＋70.0

ITO

12,851

4.6

26,646

4.5

13,800

4.3＋7.4

29,400

4.3＋10.3

Engineering

12,545

4.5

26,668

4.5

13,500

4.2＋7.6

28,100

4.1＋5.4

Others

3,274

1.2

6,756

1.1

2,000

0.6

-38.9

4,300

0.6

-36.4

Adjustment-5,783-2.1-11,997-2.0-6,000-1.9--11,100-1.7-

276,790100.0

591,995

100.0

324,000

100.0

＋17.1

677,300

100.0

＋14.4

TOTAL

*Internal transactions have not been eliminated from the figures
Copyright © since 2016 Temp Holdings Co., Ltd. All Rights Reserved.

17

2018/3 Consolidated forecasts of Results：EBITDA by Segment(Units :million yen,％)
2018/3 Forecasts

2017/3 Results
1st Half

Ratio
(%)

Full year

Ratio
(%)

1st Half

Ratio
(%)

YoY
(%)

Full year

Ratio
(%)

YoY
(%)

Temporary
Staffing/BPO

11,43753.0

23,80854.8

12,29558.6＋7.5

26,278

55.8

＋10.4

Recruiting

6,753

31.3

13,194

30.4

5,904

28.1

-12.6

13,10027.8-0.7

Overseas

29

0.1

323

0.7

288

1.4

＋887.3977

2.1＋202.3

ITO

1,013

4.7

2,747

6.3

1,090

5.2

＋7.6

2,991

6.4

＋8.9

Engineering

1,284

6.0

2,539

5.8

1,311

6.2

＋2.1

2,869

6.1

＋13.0

Others

189

0.9

243

0.6

-158

-0.8

-

-120

-0.3

-

Adjustment

862

4.0

576

1.3

259

1.2

-

1,011

2.1

-

21,570100.043,433100.0

20,992

100.0

-2.7

47,108

100.0

＋8.5

TOTAL

*Internal transactions have not been eliminated from the figures
Copyright © since 2016 Temp Holdings Co., Ltd. All Rights Reserved.

18

2018/3 Consolidated forecasts of Results：OP Income by Segment(Units :million yen,％)(単位：百万円)

2018/3 Forecasts

2017/3 Results
1st Half

Ratio
(%)

Full year

Ratio
(%)

1st Half

Ratio
(%)

YoY
(%)

Full year

Ratio
(%)

YoY
(%)

Temporary
Staffing/BPO

9,931

59.6

20,74762.1

10,70067.7＋7.7

22,70063.1＋9.4

Recruiting

4,738

28.4

9,363

28.0

4,200

26.6

-11.4

9,500

26.4

＋1.5

Overseas

-422

-2.5

-868

-2.6

-500

-3.2

-

-600

-1.7

-

ITO

688

4.1

2,095

6.3

800

5.1

＋16.1

2,400

6.7

＋14.5

1,006

6.0

1,979

5.9

1,000

6.3

-0.6

2,200

6.1

＋11.2

Others

162

1.0

188

0.6

-200

-1.3

-

-200

-0.6

-

Adjustment

555

3.3

-96

-0.3

-200

-1.3

-

0

0.0

-

16,660100.033,409100.0

15,800

100.0

-5.2

36,000

100.0

＋7.8

Engineering

TOTAL*Internal transactions have not been eliminated from the figures
Copyright © since 2016 Temp Holdings Co., Ltd. All Rights Reserved.

19

Dividend Policy
Stable dividend payment will be continued according to the progress of business results,
while enhancing our business structure to be able to expand businessin growth areas swiftly and aggressively
2014/3

Dividend per
Share2015/3

2016/32017/3

2018/3（Plan）

InterimYearend

InterimYearend

InterimYearend

InterimYearend

InterimYearend(※)
3.3 yen(※)
4.6 yen(※)
4.6 yen

(※)
6 yen

(※)
6 yen

7 yen

8 yen

9 yen

9 yen

9 yen

Total amount of
Dividend

1,754 million yen

2,340 million yen

3,046 million yen

3,985 million yen-

Dividend Ratio（Consolidated）

16.9％

17.4％

17.2％

22.4%

19.0%

（※）Stock Split in October 29, 2015••

Temp Holdings conducted the 3-for-1 stock split for the common stock of the company, for the purpose of enhancing theliquidity of the Company’s shares and broadening its investor base by reducing the price of one investment unit of theCompany’s stock.
Dividend before interim 2016 have been calculated on the basis that the stock split had been effective at the beginningof the year ended March 31, 2016.

*See the "Share Split and Related Article of Incorporation Modification; Convertible Bond Conversion Price Adjustment and Dividend Forecast Revision" for details（http://v4.eir-parts.net/v4Contents/View.aspx?template=ir_material_for_fiscal_ym&sid=34851&code=2181）
Copyright © since 2016 Temp Holdings Co., Ltd. All Rights Reserved.

20

Appendix：Recent M&As
Company nameP&P Holdings

Capita Pte. Ltd.

Kelly Services(Singapore) Pte. Ltd.

Established

October, 2012

January, 2001

August, 2000

Net Sales（*1）

25.46 billion yen（*2）

47.4 million SGD（*3）

387million USD（*4）

OP income（*1）

0.14 billion yen（*2）-3.0 million SGD（*3）

9million USD（*4）

Acquisition dateJune, 2015

October, 2015

July, 2016

Contribution from2016/3 Q2

2016/3 Q4

2017/3 Q3Ownership ratio

100.0%

Acquisition price5.49 billion yen

6.94 billion yen

7.77 billion yen (*5)

Goodwill

1.99 billion yen

6.07 billion yen

4.62 billion yen

5 year10 year

10 yearTemporary Staffing/BPO

Recruiting（Overseas）

Recruiting（Overseas）

Amortization period

Segment

51.0%*1. This briefing is only for better understanding. Please note that numbers and indexes in this page are not audited.
*2. This value is P＆P Holdings Corporation (Mar. 2015) and consolidated results of 6 company‘s subsidiaries. Value of OP income is deducted goodwill（0.39 billion yen/year）depreciation.
*3. Value is Capita Pte. Ltd.(Dec.2014) and consolidated results of 2 company‘s subsidiaries. Value of OP income is deducted goodwill （7.0 million SGD /year） depreciation.
*4. Value is the performance in the APAC region of the joint venture partner ‘Kelly Services, Inc.’ (the FY ended Dec. 2015). (Some businesses are excluded from the scope of joint venture business.)*5. This amount includes stock-kind contributions of our APAC business of Capita Pte. Ltd etc.
Copyright © since 2016 Temp Holdings Co., Ltd. All Rights Reserved.

21

Disclaimer

The statements concerning the Company’s future businessperformances in this material such as earnings forecasts are
based on information available as of May 15, 2017 and certain
assumptions deemed to be reasonable by the Company, and do
not mean that we promise to achieve these figures. Actual
earnings may differ materially from the statements due to avariety of factors.
This briefing is only for better understanding. Please note that
numbers and indexes in this book are not audited.

August 2014 : Temp Holdings was added to the JPX Nikkei Index 400
What is the JPX
Nikkei 400？

It is a new stock price index that consists of companies that meet various requirements for global
investment, such as the efficient use of capital and a management perspective that is conscious ofinvestors, for the purpose of boosting the appeal of Japanese companies domestically andinternationally.

Copyright © since 2016 Temp Holdings Co., Ltd. All Rights Reserved.

22