PERSOL HOLDINGS CO., LTD.
Held on Tuesday, July 2, 2024
Script of IR DAY: DAY1 Career SBU Business Description【Executive Officer Career SBU Lead Senoo】

My name is Senoo. I am in charge of Career SBU.
Thank you for your time today.
I will begin with an overview of the SBU.

This is our mission.
As you know, PERSOL Group has set as its Vision: Work and Smile.
To achieve it, the Group has identified What We Want to Be, which says, "A CareerWell-being" Creation Company.
To achieve the Group's Vision and What We Want to Be, Career SBU has adopted
as its mission to give people the power to own their work-life.

Put simply, our mission is to create a society which fosters career ownership.
In other words, we aim to build a society in which working individuals can maketheir own career and life-related choices.
We believe that, if people can work in the ways they are, their level of well-being
will surely be higher, and this will eventually get them close to the Group vision:
Work and Smile.

This is the Career SBU's structure.
The Career SBU consists of a total of four companies. PERSOL CAREER is the maincore. It engages mainly in the career change support and side job / freelancer
support businesses.
Career change support business is broadly divided into the placement business, job
recruitment media, and direct recruiting.
There are three other Group companies. PERSOL CAREER CONSULTING engages
in the business of providing support for career autonomy. PERSOL Global
Workforce operates the business of providing employment support for nonJapanese human resources. PERSOL CAREER TECH STUDIO operates an offshoredevelopment business.
Currently, the number of employees is around 6,500. Female employees accountfor about 60%, and female managers are about 30%. Engineers constitute about
10% of our employees.
Now we are promoting the active participation of women and the enhancement ofDX.

Here is our management team.
In 2023, we bolstered our management team by adding members with extensive
experience in operations, innovations focused on new business development, DX,and more.
As for myself, after joining Intelligence, former entity of Career SBU, I served as aBoard Member of Group companies related to temporary staffing and IT, amongothers, before accepting my current position.
Ms. Kida joined Intelligence, where she served as general manager of Career
Change Media Department, head of Personnel Affairs Division, and in other roles,
before taking up her current position.
Mr. Iwata held positions including general manager of Placement Business
Department and a member of the board of a Group company related to new
businesses, before taking up his current position.
Finally, Mr. Ishii worked as head of Sales Promotion Division, head of DX Promotion
Division, and as a director at PERSOL TEMPSTAFF before accepting his current
position.

These are the major management indicators for FY2023.
In FY2023, revenue increased 23% YoY and adjusted EBITDA grew 24% YoY.
The number of jobs available as a leading indicator has remained strong, up 27%
YoY. Meanwhile, the number of candidates who want to change jobs grew 7% YoY,showing a temporary slowing.
Headcount, a key indicator of the placement business, increased 23% YoY. Above
all, recruitment and retention initiatives are making steady progress.

This is the sales breakdown in Career SBU.
Percentages to the revenue shown in the previous slide are 71% for the placementbusiness, 21% for job recruitment media, and 8% for others.

I will explain business overview.

This is the basic structure of the career change business.
It is represented as a ribbon chart. We gain revenue from client companies desiring
to recruit new staff by connecting them with individuals desiring career change.

These are the targets of the main services.
The main target of doda, job change service, is the majority group, with annual
income of 4 to 6 million yen.
In addition, we are expanding the high-end group with annual income of 6 to 10
million yen, with new services including doda X.

I will explain the strength of PERSOL CAREER.
PERSOL CAREER has concentrated its management resources on the market related
to white collar human resources and deploys services with full coverage.
Our competitors include a company that covers the area of blue-collar and parttime workers as well, and ones which provide only some of the services.
Previously, PERSOL CAREER also covered the area of blue-collar and part-timeworkers. At present, we have a corporate strategy of concentrating management
resources on the area of white-collar workers, thus adding to our strength further.

This slide also shows the strength of PERSOL CAREER.
While career change and recruitment methods have been diversified, we provide
both job seekers and companies seeking workers with optimal options for theirneeds, from among multitiered career change support and recruitment services.
This is the strength of our services.
In addition, optimal AI matching, including the types and amount of data unique toPERSOL CAREER, is also a strength of our services.

Finally, I will explain our attracting force.
As you see, we are ranked 1st in Japan in the number of visitors to job recruitmentsites.
In addition, we were ranked 1st for three consecutive years in the level of customer
satisfaction among people in their 20s as our main targets, who constitute themajority group.
Attracting job seekers, or the attracting force itself, will be the most important in
the career change business and in the mid- to long-term strategic policy.

This is the structure of the placement business.
The placement business has a performance-based structure, which consists largelyof six steps.
To explain the service flow, we first receive job offer information from a clientcompany.
Then, a job seeker registers their information in the database.
After an interview of the job seeker by our career advisor, we introduce a job
offering which fulfills the desired conditions and check if the job seeker will apply
for it.
Having confirmed job seeker’s intention to apply, we introduce him/her to the clientcompany, and an interview takes place between them.
After mutual confirmation of the intention to employ the job seeker/join thecompany, the employment contract is signed, and the job seeker joins the company.
We receive the fee from the client company in accordance with the theoreticalannual income and the rate when the job seeker has joined the company.

This is the structure of the job recruitment media business.
The job recruitment media business consists largely of seven steps.
First, we receive a request to post a job ad from a client company.
We create a job ad for the client company and post it on the job recruitment media
that we operate.
When the ad has been posted, we receive a fee from the client company inaccordance with the job ad plan.
After the ad is posted on the job recruitment media, a job seeker views it andapplies for the job on their own.
The following steps are the same as those of the placement business.

This is the structure of the direct recruiting business.
The direct recruiting business consists of seven steps and has multiple billingsystems.
First, there are four billing systems. With pre-billing, the client pays a fee in advancein accordance with the number of scout e-mails they can send. With fixed-ratebilling, we receive a monthly database usage fee. With pay-as-you-go, we receive
a fee in accordance with the number of scout e-mails that have been sent. And with
post-billing, we receive a fee when a job seeker has joined the client company.
To describe the service flow, a job seeker registers their information in the database.
A client company applies for the service and sends scout e-mails using the databaseof job seekers.
A job seeker responds to the scout e-mail and applies for the job on their own.
The following steps are the same as those of the job recruitment media business.

Here is the position of each service.
The three services have their respective benefits and disadvantages. Clientcompanies select whichever suits their needs.
The benefit of the placement business is the point that client companies canoutsource part of the recruitment process.
The part includes checking if job seekers meet the requirements based on theirjob experience and motivating job seekers to change their career.
On the other hand, the disadvantage is the point that it is difficult for clientcompanies to approach job seekers actively.
The benefit of job recruitment media is the point that the unit cost of recruitment
can be made lower than other services.
Above all, this service is often used by a company intending to recruit multiple
persons by posting an ad once.
On the other hand, the service has the same disadvantage as the placementbusiness.
The benefit of direct recruiting is the point that the client company can actively
approach job seekers.
The disadvantage is the troublesome process in approaching job seekers. It starts
from selecting recipients of scout e-mails by using the database, followed bysending the e-mail, responding to replies, adjusting schedules, and motivating job
seekers to change their careers, among other tasks.

Let me explain the external environment.

These are factors for market growth.
The market for career change support services consists largely of five factors.
They are: number of workers, career change rate, rate of utilization of private jobchange support services, average annual income, and charge rate.
The charge rate fluctuates gently in response to the supply-demand balance
between job seekers and client companies.

First, let's see the trend of the number of workers.
As the graph shows, the number has continued to grow over the last ten years.
Possible factors include women's participation in society and the extension of workyears.
Recently, however, the number has peaked in 2019. It is expected to decline
gradually in the period up to 2030.

This slide shows the trend of the number of people who change their career andcareer change rate.
The number declined temporarily due to COVID-19 pandemic, but has been growing
at a high rate since 2021.

This slide shows the trend of percentages of channels of employment.
The rate of utilization of private career change support services by people whochange their career has been on an upward trend in the last ten years.
Among them, the rate of utilization of private placement agencies, or the placementbusiness, has been increasing.

This slide shows the trend of average annual income.
Average annual income declined temporarily due to COVID-19 pandemic, but hasbeen growing at a high rate since 2021.

This graph shows the trend of the percentage of people who change their careers
by annual income group.
The percentage of those in the high annual-income group has been growing inrecent years.
Further, compared to the percentage of this group to salary earners, that to people
who change careers is low. Growth is therefore expected to continue.

This slide shows the trend of supply-demand balance.
After the COVID-19 pandemic, demand, or the number of jobs available from clientcompanies, has been trending higher.
Above all, as a private operator, we receive a lot of inquiries from client companies.
The job-openings-to-applicants ratio has also continued to rise at Hello Work, thegovernment-run employment agency.

This is the market potential.
Thus, positive trends are seen in four of the five factors constituting the market forcareer change support services. We therefore expect the market to continuegrowing.

I will explain mid- to long-term strategy.

Career SBU has set three tasks as elements of its mid- to long-term strategy.
One is to drive the DX of placement and job recruitment media businesses targetingthe majority group as our core domains. Second, we will invest in the high-growthmarket. And the third is to bolster the attracting force.

I will explain about driving DX in core domains. In the placement and job
recruitment media businesses for the majority group, we will enhance DX toimprove the customer experience value, business quality, and profitability.
Specifically, we will strengthen matching AI further, introduce IT to operations,automate operations, redevelop the database, and strengthen data management.

I will explain our investment in the high-growth market.
To strengthen multitiered recruitment solutions on an ongoing basis, we will makemarketing investment in the high-end group. We also make service development
investment in the placement for the high-end group, direct recruiting, and side
job/freelancer.
A recent example is the renewal of direct recruiting service as doda Direct.

I will explain how to increase the attracting force.
To increase the attracting force, we have launched a service named PERSOL MIRAIZ
as a lineup that expands career possibilities.
The scheme of PERSOL MIRAIZ consists of a community of people who will change
their careers in the future, training them, and providing coaching services for them.
We will combine it with our current services to evolve it into a platform that will
enable individuals to continue developing their careers.

Finally, I will talk about main topics.

I will introduce our initiatives on doda X and doda Direct.
First, in doda X, we achieved planned revenue and expenditure in FY2023 as thefirst fiscal year of investment.
We have launched the direct recruiting service for doda X users desiring careerchange.
We have launched doda Direct last year in the form of renewal.
On doda Direct, users can reach out to the database of doda X in addition to thatof doda. This enables client companies to approach a wider range of people desiring
career change.
This concludes my presentation.
Thank you for your time and attention.