Securities code: 2181

To Shareholders and Investors
Report for

the fiscal year
ended March 2009
April 1, 2008 March 31, 2009

Get Started!
Temp Holdings

Stability - The Essence of Management Value
Implementation of M&A in anticipation of synergy
to be produced in the near future

Notice1. Notes Concerning the Introduction of the Electronic Share Certificate System(1) As a result of introducing the electronic share certificate system, various procedures for shareholders such as address changes, andrequests for repurchase will in principle be handled by account management institutions (such as securities companies), with which theshareholders have opened accounts. Hence, shareholders are required to ask such institutions about the above procedures. It should be notedthat the administrator of shareholders’ register (Mitsubishi UFJ Trust and Banking Corporation) does not handle such procedures.
(2) As Mitsubishi UFJ Trust and Banking Corporation is the account management institution for special accounts as described below, please ask
the bank about the procedures for shares recorded in special accounts. These procedures are also handled at the bank’s branches nationwide.
(3) The dividend transfer designation form should be submitted through each account management institution when designating an account towhich to transfer dividends. Starting with this notice, we have stopped enclosing the Dividend Transfer Designation Form. For further
information on procedures for transfer designation, contact your account management institution.
(4) Dividends that you have not received will be paid by the head office and branches of Mitsubishi UFJ Trust and Banking Corporation.
2. About the Dividend Statement
Beginning this year, a Dividend Statement will be enclosed with a letter to shareholders who have made receipts for dividends as well asshareholders who have designated payment of dividends into their accounts. This statement can be used for confirming the amount ofdividends after payment as well as reference materials when filing a tax return.

Procedures for Shares
Shares recorded in the special accountProcedures, inquiries, etc.

Contact

Requests for transfer from a special account to a
general accountRequests for purchase/additional purchase ofshares less than one unit
Changes in address, name, etc.
Account balance inquiries
Designation of method for receiving dividends*

Specialaccount
management
institution

Inquiries about the sending and returning of mails
Inquiries about dividends after completion of thepayment period
General inquires about administrative work
related to shares

Administrator ofshareholders’register

Custody Service Department
Mitsubishi UFJ Trust and Banking Corporation
7-10-11, Higashisuna, Koto-ku, Tokyo 137-8081, JAPAN
Tel: 0120-232-711 (toll-free number available only within Japan)

Method for requesting procedural documents
Request through the automatic answering system:
0120-244-479 (toll-free number available only within Japan)
Download online: http://www.tr.mufg.jp/daikou/*Shareholders who own shares recorded in the special account may not choose the method for receiving dividends in proportion to the amount of shares held.

Shares recorded in the accounts of securities companies
Procedures, inquiries, etc.

Contact

Inquiries about the sending and returning of mails
Inquiries about dividends after completion of thepayment period
General inquires about administrative work
related to shares

Administrator ofshareholders’registerProcedures and inquiries not included above

Please contact your securities company.

Custody Service Department
Mitsubishi UFJ Trust and Banking Corporation
7-10-11, Higashisuna, Koto-ku, Tokyo 137-8081, JAPAN
Tel: 0120-232-711 (toll-free number available only within Japan)

Shinjuku Maynds Tower, 2-1-1 Yoyogi, Shibuya-ku, Tokyo 151-0053, JAPAN Tel: +81-(0)3-3375-2220*The items in this report include descriptions of future plans and forecasts. Actual performances may differ substantially due to various factors.

Yoshiko Shinohara,
President

Thanks Temp Co., Ltd.
Tempstaff Integration Co., Ltd.

Temp Holdings Co., Ltd.

Tohoku, Hokuriku,
Sanin, Okinawa

Hokkaido, Nagano, Yamanashi,
Kanto, Kansai, Chugoku, Shikoku, Kyushu

Regional Franchises

Tempstaff Co., Ltd.

Local operating companies(specialized in the local regions)

After leaving Mitsubishi Heavy
Industries, Ltd. in 1957, Ms
Shinohara studied in Europe andworked in Australia in 1971. Uponher return to Japan in 1973 Ms.
Shinohara established Tempstaff
Co., Ltd. inspired by encounters withtemporary staffing in Australia. Since
2000, Ms. Shinohara has been
named as one of “The Most Powerful
Women in Business” in FORTUNE for
9 consecutive years. She wasawarded the Kigyoka Prize in 2007.

Tokai

Tempstaff
People Co., Ltd.

Specialized operating companies(staffing for specialized jobs and services)Temp Group New Organization Fully Started in April 2009
Temp Holdings Co., Ltd. supervises local operating companies that provide
community-based clerical and administrative staffing services, as well as specialized
operating companies that are engaged in staffing for specialized jobs and services, suchas IT-related work, medical jobs, outplacement service, and child care. Temp Holdings
seeks to increase profitability and improve operational efficiency through thepromotion of sharing of know-how and cooperating with these companies while
respecting their speedy decision-making processes.

Get
Started! Temp Holdings

Improvement of Temp Holdings’ structure is progressing smoothly.

Under Temp Holdings, which was established last autumn, the Temp Group made quite a good start with the launch of full-scale operations in April 2009.
We succeeded in integrating information systems, a common obstacle to management integration, in early stages due to quick decision making. We
have completed the integration of back office integration - the key to improving corporate efficiency - by concentrating such operations into Tempstaff
Integration Co., Ltd.
In terms of human resource harmonization, I believe staffs of Tempstaff Co., Ltd. and Tempstaff People Co., Ltd. have understood each other muchbetter over the past six months since the startup of Temp Holdings. While the two companies have many points in common, they naturally havedifferent corporate cultures. Despite these differences, management integration is progressing smoothly without major problems. I think this success ismade possible by our organizations’ efforts to strengthen group-wide solidarity in confronting a difficult time in which all corporations are struggling
to survive.

Stability is the essenceof the Temp Group’s
management value,
as we exist
to serve society.

OperatingResults

The Company will secure stable profits through“realistic management commensurate with its size and capabilities”.
For its first business term ended March 31, 2009, Temp Holdings Co., Ltd. posted sales of 245.0 billion
yen and ordinary income of 9.2 billion yen, despite the effects of the sharp economic slowdown anddeteriorated corporate earnings.
It is expected to take some time for the economy to recover. Under these circumstances, the Temp Groupwill overcome the ongoing severe business environment through realistic management commensurate with
its size and capabilities while flexibly responding to changes in the environment.
We will put into practice of Temp Holdings’ corporate philosophy “Creating Jobs, Individual Growth,and Contributing to Society” and secure stable profits in order to meet the expectations of our shareholders.

Highlights of the fiscal year
ended March 2009

245.0 billion yen
Operating Income: 8.9 billion yen
Ordinary Income: 9.2 billion yen
Term-End Dividend per Share: 11 yen
Sales:

M&A-related efforts
March 2009

Support-A Ltd.

Converted into a subsidiarythrough stock acquisition
A human resource service company that wasestablished as a subsidiary of Autobacs Seven Co.,
Ltd., and has excellent know-how in selling car
accessories. The company has a strong track record
not only in the temporary staffing business but also
in the sales agent business using its know-how
regarding training and store operations.

The Temp Group’s nationwide
marketing capabilities andrecruitment abilities
Enhancement of marketing services
for which demand is highMay 2009

Drake Beam
Morin-Japan, Inc.

Converted into a subsidiary by acquiring
shares of a new company establishedthrough corporate division
An outplacement service company which has
succeeded the know-how of Drake Beam Morin, Inc.
of the U.S. and had been engaged for over 25 years.

Drake Beam Morin-Japan’s outplacement
service know-how
Networks with foreign-affiliated companies
The Temp Group’s
nationwide sales channels
Strengthening of the outplacement
services, which is steadydespite the economic depression

July 2009 (planned)

Fuji Xerox Career Net Co., Ltd.
Converted into a subsidiarythrough stock acquisition

A human resource service company which wasestablished as a subsidiary of Fuji Xerox Co., Ltd. In
particular, the company provides meticulous humanresource services for Fuji Xerox and its affiliates by
dispatching personnel with thorough knowledge ofthe assigned work and the characteristics of thesection to which they are assigned. This service has astrong reputation among customers.

Implementation of solid,
faithful management as well as M&A
in anticipation of synergy
to be produced in the near future

Support-A’s marketing know-how
Customer’s confidence

Fuji Xerox Career Net’s know-how
and good track record in providing
customer-oriented services
The Temp Group’s nationwide
marketing capabilities andrecruitment abilities

Further improvementin customer satisfaction*Fuji Xerox Career Net Co., Ltd. is scheduled to change its trade name to
TEMPSTAFF CROSS CO., LTD. on July 1, 2009.

To further develop
excellent markets
and customers
Fuji Xerox Career Net Co., Ltd.,slated to be a member of the Temp
Group starting in July 2009, provides
its parent company, Fuji Xerox Co.,
Ltd., and the affiliates thereof withhigh-quality services based on athorough knowledge of its customers.
Combining with the Temp Group’s
nationwide marketing capabilities andrecruitment abilities, we will be able
to capture and hold the market andfurther develop customers.
Through M&A, we aim to obtainsynergy based on a broad, long-term
perspective, which completely differsfrom simply pursuing economies ofscale.

M&A-related efforts
Under the holdings system, M&A is a very effective measure for developing attractive
markets, expanding business domains efficiently, and obtaining new know-how. We want toproactively implement M&A activities if they can be expected to create synergy from a
broad, long-term perspective.
The Temp Group has two principles for its M&A strategies: One is that M&A should be
conducted within the amount of free cash flow, and the other is that synergy should be
produced without fail.
Following last autumn’s management integration, we have received an increasing numberof inquiries concerning M&A. I would now like to introduce some of our major M&A-related
efforts.

As an important function to complement
our mainstay businesses
The economic downturn cast a dark shadow over the performance of the temporary staffing,
contracting, and recruitment services. However, the outplacement services grew steadily.
Drake Beam Morin-Japan, Inc., a pioneer in Japan’s outplacement services, has strong
know-how and an excellent track record in the business. The company will help complement
our mainstay businesses particularly at a time when the overall economy is deteriorating.

Mid-term Management Strategy
Mid-term Management Strategy

Providing job assistance to women
Mid-term Management Strategy

Improving management efficiency
We will increase our business efficiency through urgent
implementation of measures such as centralization ofback office operations, improvement of work flow, andintegration of systems. In addition, we will maintainsteady profit growth and a sound financial position.

We will concentrate human resources in branch
offices and subsidiaries in Asia, including China,
Hong Kong, South Korea, Taiwan, Singapore, andIndonesia, aiming to establish an operating platform
and aggressively expand our operations in the global
market.

As of April 1, 2009, we operate 11 networks
overseas. Our corporate vision is to become
the “foremost Asian human resource service
provider.” We will continue to work to expand
our presence worldwide.

December 2008

We launched the training program BIM Pro
for 3-D construction CAD operators.
March 2009

We began offering cashier staffing/outsourcing services based on the know-how
accumulated by People Staff Co., Ltd.
(presently Tempstaff People Co., Ltd.).

We concentrated our back office operations
into Tempstaff Integration Co., Ltd.

Comprehensive Women's Support Center:
Temp Up
In commemoration of its first anniversary,
Temp Up, our comprehensive support center
for women, expanded its training content
and strengthened job search support forchild-raising mothers.

April 1, 2009

May 2009

We integrated overlapping organizations
and businesses mainly in the Tokyo,
West Japan and Tokai regions.

We were awarded the “2nd Best Mother Award
2009, Corporate Sector” for our efforts to
help women who wish to continue working.

April 1, 2009

The entire Temp Group will streamline its
organizations and implement full force costmanagement. To this end, we will optimize
labor costs and personnel placement, reduce
advertising expenses, and improve operational
efficiency.

In the prime of their working life,
child-raising mothers are potential andattractive human resources for companies.
We will create opportunities for women who
wish to work but are restricted by time to beable to work near their home and/or work
part-time and strive to match the needs ofsuch women and corporations.

Strategy

We will improve our service structure and network in
response to demand for specialized staff in segments
such as bio-medical, finance, IT-related work, publicagencies, and local governments in order to better
satisfy a broad range of staffing needs.

October 2008

Mid-term Management Strategy

Expanding our presencein the global market

We will provide comprehensive support to women,
who hold the key to labor shortages arising from thedeclining birth rate and aging workforce. This
includes job search support for child-raising mothersand expanding the sales of staffing services for
women who wish to work close to home and/or
wish to work part-time.

Developing business in specialized fields

We will continue to move forward steadily
under an unshakable strategy.

Mid-term Management Strategy

Strengthening localized services
Under the holdings system, each local operatingcompany will provide meticulous services thatclosely meet the needs of local customers andaccelerate expansion of our local market share.

March 2009

To further our know-how of various tasks,
we undertook operations related to thegovernment subsidy program, in which
12,000 yen is given to every citizen(20,000 yen for those 18 or younger andthose 65 or older).

For the staffing business, it is, of course, important
to expand the coverage area of specialized jobs.
However, we also would like to focus on increasing
the number of tasks and build up know-how about
them. The undertaking of operations related to thegovernment subsidy program is a good example ofour such initiatives. Furthermore, we consider M&A
as one of the ways by which we can expand ourcoverage of specialized fields.

Fiscal Year ended March 2009

Number of new office openings: 14
As of April 1, 2009

Number of domestic networks: 271

Our marketing system has been solidified
by combining the nationwide network of
Tempstaff Co., Ltd. with the solid businessbase in the Tokai region held by Tempstaff
People Co., Ltd. Every local operatingcompany will aim to be number 1 in its
region.

Aiming for stable growthunder our mid-term
management strategy
When Temp Holdings Co., Ltd. wasestablished, we formulated a mid-term
management strategy. Under this strategy,
we will conduct business while maintaining
steady growth in profits and a soundfinancial structure with an aim to achieving
stable growth for the entire Group.

Overview of Consolidated Financial Results

Per-share Dividend

Sales by Segment

Net Income

Ordinary Income

Operating Income

Sales

The term-end dividend was 11 yen per share(1,100 yen per 100 shares).
The Articles of Incorporation stipulates that theCompany may pay interim dividends to its
shareholders. This means we, in principle, pay
dividends to shareholders twice a year.

The temporary staffing, contracting services forgeneral office work, specialized office work,
IT/engineering and other, which consist mainly ofmarketing, accounted for 94.6% of total sales.
These businesses and the recruitment services
represent 96.5% of total sales.

4,076 million yen

9,245 million yen

8,908 million yen

245,062 million yen

Net income was 4,076 million yen, reflecting
extraordinary losses caused by a loss on disposalof systems, instruments, and fixtures related to
management integration.

Ordinary income was 9,245 million yen, reflecting
subsidy income and profit on equity method
investments.

Operating income was 8,908 million yen,reflecting a sharp rise in social insurance premium
contributions by employers due to the reform of thenational medical insurance system, and an increasein paid-holidays taken by temporary staff due toemployment adjustment at client corporations.

Sales of Temp Holdings Co., Ltd., were 245,062
million yen in its first fiscal year of its establishment,
reflecting strong performance in the mainstay
temporary staffing business during the first half,while the adverse effects of the rapid economic
slowdown in the second half.

(Unit: yen)

(Unit: million yen)

Outsourcing: 6,911 (2.8%)(Unit: million yen)

(Unit: million yen)

(Unit: million yen)

(Unit: million yen)

Other Business: 1,617 (0.7%)(Forecast)

Recruitment Services:

4,707 (1.9%)

Other:(Forecast)(Forecast)(Forecast)Fiscal year ended Fiscal year ended
March 2009
March 2010

Fiscal year ended Fiscal year ended
March 2009
March 2010

Fiscal year ended Fiscal year ended
March 2009
March 2010

35,032 (14.3%)
General
Office Work:132,423

Fiscal year ended Fiscal year ended
March 2009
March 2010
Termend
2nd
Quarter
Fullyear(54.0%)(Forecast)(Forecast)(Forecast)

Both Tempstaff Co., Ltd. and People Staff
Co., Ltd. paid interim dividends for the
fiscal year ended March 2009.

IT/Engineering:

21,449 (8.8%)
Specialized
Office Work:

42,920 (17.5%)

Temporary Staffing,
Contracting and
Recruitment Services:

236,533 (96.5%)

Fiscal year ended Fiscal year ended
March 2009
March 2010

Note: Temp Holdings Co., Ltd. was established on October 1, 2008, as a joint holding company through the management integration of Tempstaff Co., Ltd. andPeople Staff Co., Ltd. (presently Tempstaff People Co., Ltd.). The Company began to prepare financial statements from the fiscal year under review, andthus, results for the previous term and changes in figures from the previous term are not stated.

Information
Distribution of Shareholders As of March 31, 2009

Stock Information

As of March 31, 2009

Company Outline

As of March 31, 2009

(Unit: shares)

Foreign Companies, etc.

Financial Institutions
Firms Dealingsin Financial
Instruments

Authorized number of shares: 240,000,000

Company Name: Temp Holdings Co., Ltd.

Total number of shares issued: 65,521,500

Established:

October 1, 2008

Shareholders: 10,955

President:

Yoshiko Shinohara

Head Office:2-1-1 Yoyogi, Shibuya-ku,
Tokyo, JAPAN

Major shareholders (top 10)

Individuals, Others

Other
Companies

Name of shareholders

Yoshiko Shinohara
State Street Bank andTrust Company

Shareholder Information
Business year:
From April 1 to March 31 of the following year
Annual general meeting of shareholders:June every year
Record dates:
Annual general meeting of shareholders March 31
March 31
Term-end dividend
September 30
2nd quarter dividend
Administrator of shareholders’ register /Special account management institution:
Mitsubishi UFJ Trust and Banking Corporation
Contact:
Mitsubishi UFJ Trust and Banking Corporation
Custody Service Department
7-10-11 Higashisuna, Koto-ku, Tokyo 137-8081, JAPAN
Tel: 0120-232-711 (toll-free number available only within Japan)
Stock Listing:Tokyo Stock Exchange, First Section
Website address of public notice:
http://www.temp-holdings.co.jp/
When electronic public notices are not possible due toincidents or other unavoidable circumstances, announcements
will appear in the Nihon Keizai Shimbun newspaper.

Shares held Percentage
of voting(shares)rights (%)

Type of Business: Management planning,
administration, and operations
related to subsidiary and groupcompanies that handle temporary
staffing and recruitment services.
Capital:

Yoshimi Iyadomi
The Bank of TokyoMitsubishi UFJ, Ltd.

Board of Members

Japan Trustee
Services Bank, Inc.
(Trust Account)

President:

Yoshiko Shinohara

Vice-President:

Mikihiko Hibino

Executive Director:

Masamichi Mizuta

Executive Director:

Toshio Saburi

Director:

Takao Wada

Director:

Carl T. Camden

Full-time Auditor:

Izuki Hiraga

Nikko Cordial Securities
Investment EnterprisePartnership
Woman Staff Ltd.
Japan Trustee Services
Bank, Inc.
(Trust Account 4G)“Matching the needs of corporations and workers” is a primaryand essential condition to keeping the human resource service industry healthy.
Contributing to society by creating jobs and supporting the growth of individuals through work;
this is our corporate vision and our way of business.
The provision of human resource services is a highly public business.
Given this, we will continue to conduct businesses with the highest priority
given to fulfilling social responsibility.
Despite my lack of job experienceand poor qualifications, I was able toget a desired job thanks to Tempstaff,
which provides many job opportunities.
(Woman; pharmaceutical quality control worker)

As of June 25, 2009

Auditor:Naotaka Saeki

Auditor:Haruo Shimada

Auditor:

Kaoru Arai

Sales promotion

MedicalNight-shift office work

IT/Engineering

2,000 million yen

Kelly Services Japan, Inc.

Temp-Holdings employee
shareholders association

We will make steady progress with our commitment to CSR
by taking over the former Tempstaff Group’s corporate vision.

I think one of the great
benefits of finding a job througha staffing agency is that I can havethe opportunity to see whether I am
compatible with the target company.
(Woman; general office work)

Creative

Individual
growthFood business
MarketingTemp-to-permanent
serviceI would like to expand
my possibilities without
being limited to one direction.
Hence, working through a staffing agency
is ideal for job seekers like me.
(Woman; telemarketer)

Supporting students
studying overseas

I realized my dream ofstudying overseas thanks to
the overseas study scholarship program.
I was able to enhance my careerby polishing my English ability.
(Woman; interpreter/translator)

Creating
jobs

Helping people
fulfill dreams
and happinessthrough work
Contributing
to society

Accounting clerical work
Part-time office work
Outplacement
serviceI got my present job

Child day care/ through a staffing program so thatchild rearing I can adjust my work volume according to
my child’s growth. I am glad I can work inaccordance with changes to my lifestyle.
(Woman; receptionist/general office work)

Nursingcare-related
Employment support
for the disabled

After giving birth, I was able toreturn to work without any worries
thanks to Tempstaff’s
maternity leave program.
(Woman; general office work)*The above comments were taken from staff interviews for “e-campanera”, a communication site for the staff of Tempstaff Co., Ltd.

Securities code: 2181

To Shareholders and Investors
Report for

the fiscal year
ended March 2009
April 1, 2008 March 31, 2009

Get Started!
Temp Holdings

Stability - The Essence of Management Value
Implementation of M&A in anticipation of synergy
to be produced in the near future

Notice1. Notes Concerning the Introduction of the Electronic Share Certificate System(1) As a result of introducing the electronic share certificate system, various procedures for shareholders such as address changes, andrequests for repurchase will in principle be handled by account management institutions (such as securities companies), with which theshareholders have opened accounts. Hence, shareholders are required to ask such institutions about the above procedures. It should be notedthat the administrator of shareholders’ register (Mitsubishi UFJ Trust and Banking Corporation) does not handle such procedures.
(2) As Mitsubishi UFJ Trust and Banking Corporation is the account management institution for special accounts as described below, please ask
the bank about the procedures for shares recorded in special accounts. These procedures are also handled at the bank’s branches nationwide.
(3) The dividend transfer designation form should be submitted through each account management institution when designating an account towhich to transfer dividends. Starting with this notice, we have stopped enclosing the Dividend Transfer Designation Form. For further
information on procedures for transfer designation, contact your account management institution.
(4) Dividends that you have not received will be paid by the head office and branches of Mitsubishi UFJ Trust and Banking Corporation.
2. About the Dividend Statement
Beginning this year, a Dividend Statement will be enclosed with a letter to shareholders who have made receipts for dividends as well asshareholders who have designated payment of dividends into their accounts. This statement can be used for confirming the amount ofdividends after payment as well as reference materials when filing a tax return.

Procedures for Shares
Shares recorded in the special accountProcedures, inquiries, etc.

Contact

Requests for transfer from a special account to a
general accountRequests for purchase/additional purchase ofshares less than one unit
Changes in address, name, etc.
Account balance inquiries
Designation of method for receiving dividends*

Specialaccount
management
institution

Inquiries about the sending and returning of mails
Inquiries about dividends after completion of thepayment period
General inquires about administrative work
related to shares

Administrator ofshareholders’register

Custody Service Department
Mitsubishi UFJ Trust and Banking Corporation
7-10-11, Higashisuna, Koto-ku, Tokyo 137-8081, JAPAN
Tel: 0120-232-711 (toll-free number available only within Japan)

Method for requesting procedural documents
Request through the automatic answering system:
0120-244-479 (toll-free number available only within Japan)
Download online: http://www.tr.mufg.jp/daikou/*Shareholders who own shares recorded in the special account may not choose the method for receiving dividends in proportion to the amount of shares held.

Shares recorded in the accounts of securities companies
Procedures, inquiries, etc.

Contact

Inquiries about the sending and returning of mails
Inquiries about dividends after completion of thepayment period
General inquires about administrative work
related to shares

Administrator ofshareholders’registerProcedures and inquiries not included above

Please contact your securities company.

Custody Service Department
Mitsubishi UFJ Trust and Banking Corporation
7-10-11, Higashisuna, Koto-ku, Tokyo 137-8081, JAPAN
Tel: 0120-232-711 (toll-free number available only within Japan)

Shinjuku Maynds Tower, 2-1-1 Yoyogi, Shibuya-ku, Tokyo 151-0053, JAPAN Tel: +81-(0)3-3375-2220*The items in this report include descriptions of future plans and forecasts. Actual performances may differ substantially due to various factors.