RecruitHoldings

FY2023 Q3 Consolidated Results
2024年3月期 第3四半期決算説明
February 9, 2024

FY2023 stands for the period ending on March 31, 2024.
FY2023は2024年3月期を意味します。

1

Recruit Holdings | FY2023 Q3 Results 2

FY2023 Q3 Consolidated Quarterly Financial Results
Adjusted EBITDA& Adjusted
FY2022Q3 EBITDMargin

FY2023Q3(in billions of yen, unless otherwise stated)

ActualActualYoY

Revenue / 売上収益

880.1

866.7

-1.5%

Adjusted EBITDA / 調整後EBITDA

138.2

158.2

+14.4%

Adjusted EBITDA Margin / 調整後EBITDAマージン

15.7%

18.3%-Non-GAAP Operating income / Non-GAAP営業利益

97.1

120.0+ 23.6%

Operating income / 営業利益

96.8

108.9

+12.5%

Profit attributable to owners of the parent/ 親会社の所有者に帰属する当期利益

77.8

106.3

+36.6%

Basic EPS (yen) / 基本的EPS (円)

48.60

68.03

+40.0%

Adjusted EPS (yen) / 調整後EPS (円)

50.27

68.03

+35.3%
Recruit Holdings | FY2023 Q3 Results 3

Total Number of shares as of December 31, 2023
March 31, 2023

As ofDecember 31, 2023

1,695.9

1,695.9

Treasury stock directly held by Recruit Holdings /当社が直接保有する自己株式数49.081.9

Shares held by the Board Incentive Plan trust
and the ESOP trust / 役員報酬BIP信託、並びに

67.8

58.5

116.8

140.5

1,579.1

1,555.4(in millions of shares)

Number of issued shares/ 期末発行済株式数

As&of
Adjusted EBITDA
Adjusted EBITDA Margin

Number of treasury stock / 期末自己株式数

株式付与ESOP信託が保有する当社株式数

Total Number of treasury stock / 期末自己株式数合計
Number of issued shares excluding treasury stock /期末発行済株式数 (自己株式を除く)

Recruit Holdings | FY2023 Q3 Results 4

Consolidated FY2023 Q3 Financial Results and Q4 Outlook
Revenue(in billions of yen)900

Adjusted EBITDA
Adjusted EBITDA Margin %(in billions of yen)

180

19.5%
600

120

19.0%

15.7%

18.3%
X.X%

13.2%
300

11.9%

60

Q3
FY2022

Q4Q1FY2023

Q2Q3

Q4Outlook

Q3
FY2022

Q4Q1
FY2023Q2Q3Q4Outlook

Recruit Holdings | FY2023 Q3 Results 5

Consolidated FY2023 Annual Financial Guidance

FY2022Adjusted EBITDA & Adjusted EBITDA Margin

FY2023

ActualGuidance

YoY

3,429.5

3,400.0-0.9%

Adjusted EBITDA / 調整後EBITDA

545.0585.0+7.3%

Adjusted EBITDA Margin / 調整後EBITDAマージン

15.9%

17.2%

-Operating income / 営業利益

344.3

407.0

+18.2%

Profit before tax / 税引前利益

367.7

429.0

+16.6%Net income / 当期利益

271.6

355.0

+30.7%

Profit attributable to owners of the parent/ 親会社の所有者に帰属する当期利益

269.7

354.0

+31.2%

Basic EPS (yen) / 基本的EPS (円)168.59226.00+34.1%

Adjusted EPS (yen) / 調整後EPS (円)199.35233.00+16.9%(in billions of yen, unless otherwise stated)

Revenue / 売上収益

Recruit Holdings | FY2023 Q3 Results 6

Consolidated FY2023 Annual Financial Guidance
Revenue(in billions of yen)

3,500

Adjusted EBITDA
Adjusted EBITDA Margin %(in billions of yen)

600

2,800
17.8%

400

2,100
1,400

200

FY2020

FY2021

FY2022

FY2023
Guidance

17.2%

13.6%
10.9%

700

FY201915.9%FY2019FY2020

FY2021

FY2022

FY2023
Guidance

Recruit Holdings | FY2023 Q3 Results 7

Consolidated FY2023 Annual Financial Guidance
Operating Income(in billions of yen)

Profit Attributable to Ownersof the Parent(in billions of yen)

350

400

280

300

210

200

14010070

FY2019FY2020

FY2021

FY2022

FY2023
Guidance

FY2019FY2020

FY2021

FY2022

FY2023Guidance

Recruit Holdings | FY2023 Q3 Results 8

Consolidated FY2023 Annual Financial Guidance
Basic EPS(yen)Adjusted EPS

2502502002001501501001005050

FY2019FY2020

FY2021

FY2022

FY2023
Guidance

FY2019(yen)

FY2020

FY2021

FY2022

FY2023
Guidance

Recruit Holdings | FY2023 Q3 Results 9

FY2023 Q3 Actual Result and Q4 Outlook by Segment
HR Technology
Revenue in US Dollar$2,000

1,984

1,897

1,875

US

(in millions of dollars)

1,778

1,643

0.0%
QoQ

Adjusted EBITDA in Japanese Yen andAdjusted EBITDA Margin %(in billions of yen)
100
38.1%

80$1,500

60$1,000

28.1%

35.8%
33.2%

30.5%

approx.
27%

40$50020

Non-USQ3
FY2022

Q4Q1
FY2023Q2Q3Q4Outlook

Q3
FY2022Q4Q1
FY2023Q2Q3Q4Outlook

Recruit Holdings | FY2023 Q3 Results 10

FY2023 Outlook by Segment
HR Technology
Revenue in US Dollar(in millions of dollars)

7,653$8,0008,243-15.5%±YoY$6,000$4,000$2,0003,907

Adjusted EBITDA in Japanese Yen andAdjusted EBITDA Margin %(in billions of yen)approx.
34%

350
280

37.5%30.7%

2103,993

140US70
Non-US

FY2019FY2020

FY2021

FY2022

FY2023
Outlook

16.8%

16.7%

FY2019FY2020

FY2021

FY2022

FY2023
Outlook

Recruit Holdings | FY2023 Q3 Results 11

FY2023 Q3 Actual Result and Q4 Outlook by Segment
Matching & Solutions
Revenue

200150100191.9(in billions of yen)

203.0

199.9

-4.5%± YoY+7%± YoY

200.1 199.5

Adjusted EBITDA and
Adjusted EBITDA Margin %
45
21.3%

HRSolutions(in billions of yen)

23.1%

23.3%

approx.
12.5%

3016.5%MarketingSolutions

1550

9.3%

Others &Elimination

Q3
FY2022

Q4Q1
FY2023Q2Q3Q4Outlook

Q3
FY2022

Q4Q1
FY2023

Q2Q3

Q4Outlook

Recruit Holdings | FY2023 Q3 Results 12

FY2023 Outlook by Segment
Matching & Solutions
Revenue
800600(in billions of yen)

755.9

672.0

760.6

+2.5%± YoY+9%± YoY

658.6

Adjusted EBITDA and
Adjusted EBITDA Margin %approx.
20%

180
24.3%

HRSolutions

120400200(in billions of yen)

15.9%

60

MarketingSolutions

15.6%

14.4%

Others &Elimination

FY2019FY2020

FY2021

FY2022

FY2023
OutlookRent Assistance Program / 家賃支援給付金事務事業

FY2019FY2020

FY2021

FY2022

FY2023
Outlook

Recruit Holdings | FY2023 Q3 Results 13

FY2023 Q3 Actual Result and Q4 Outlook by Segment
Staffing
Revenue

400300415.6(in billions of yen)

383.6

401.4

406.3

Adjusted EBITDA and
Adjusted EBITDA Margin %433.6 +5%± YoY+1%± YoY

30Japan

7.5%

7.2%
6.7%

20200

100Europe
USAustralia

Q3
FY2022(in billions of yen)

Q1
FY2023Q2Q3Q4Outlookapprox.
3%

4.5%

10Q46.2%

Q3
FY2022

Q4Q1FY2023

Q2

Q3

Q4OutlookRecruit Holdings | FY2023 Q3 Results 14

FY2023 Outlook by Segment
Staffing
Revenue(in billions of yen)

+10%± YoY
1,585.2 -2%± YoY

1,600

1,200

1,248.1

1,198.8

Adjusted EBITDA andAdjusted EBITDA Margin %approx.
6%100

1,378.4
6.8%
6.5%

Japan

6.5%

6.4%

50800

400

(in billions of yen)

EuropeUS
Australia

FY2019FY2020

FY2021

FY2022

FY2023
Outlook

FY2019FY2020

FY2021

FY2022

FY2023
Outlook

Recruit Holdings | FY2023 Q3 Results 15

Follow Your Heart

Recruit Holdings | FY2023 Q3 Results 16

Opportunitiesfor Life.

Faster, simpler andcloser to you.

Recruit Holdings | FY2023 Q3 Results 17

Appendix: FY2023 Q3 Result by Segment(in billions of yen)
Revenue
売上収益HR Technology

ActualAdjusted EBITDA& Adjusted EBITDA Actual
MarginMatching & Solutions
Staffing

YoY

280.5

243.0

-13.4%

415.6

433.6

+4.3%

191.9

199.5

+3.9%

880.1

866.7

Matching & Solutions

31.6

46.4

+47.1%

Staffing

78.8
29.8

80.7
32.5

-1.5%

+2.4%
+9.2%

Consolidated1

138.2

158.2

+14.4%

Matching & Solutions

16.5%

23.3%

-HR Technology
Adjusted EBITDA Margin調整後EBITDAマージン

FY2023 Q3Consolidated1HR Technology
Adjusted EBITDA
調整後EBITDA

FY2022 Q3

Staffing

Consolidated

28.1%
7.2%

15.7%

33.2%
7.5%

18.3%

-1 The sum of the three segments does not correspond with consolidated revenue and adjusted EBITDA due to adjustments, such as intra-group transactions.
1 「調整額」認識後の数値を記載しているため、 各セグメントの金額合計と一致していません。

Recruit Holdings | FY2023 Q3 Results 18

Appendix:
FY2023 Q3 Consolidated Adjusted EBITDA and Operating Income
FY2022 Q3

FY2023 Q3(in billions of yen)

ActualOperating income / 営業利益

96.8

108.9+12.5%

0.2

11.1-Non-GAAP Operating Income / Non-GAAP営業利益

97.1

120.0

+23.6%

Depreciation and Amortization/ 減価償却費及び償却費

31.1

29.5

-5.1%

Depreciation of Right-of-Use Assets/ 使用権資産の減価償却費

-11.1

-10.2

-

Stock-based Compensation / 株式報酬費用

21.0

18.7

-10.9%

Adjusted EBITDA / 調整後EBITDA

138.2

158.2

+14.4%

Other Operating Income and Expenses, Net/ その他営業収益・費用

ActualYoY

Recruit Holdings | FY2023 Q3 Results 19

Appendix: Business Strategies

010203

Simplify
HiringHelp Businesses
Work Smarter

Prosper
Together

Connect people with jobs,faster and easier
⼈材マッチング市場における採用プロセスの効率化

Improve the productivity andperformance of clients’ businesses
through SaaS solutions in Japan
SaaSによる
日本国内企業クライアントの生産性及び業績向上

Sustainable growthshared by all stakeholders
ステークホルダーとの共栄を通じた持続的な成長
Recruit Holdings | FY2023 Q3 Results 20

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 therelevant forward-looking statements will be achieved. Please note that significant differences between such forward-looking statements and actual results mayarise due to various factors, many of which are outside the Company’s control, including changes in economic conditions, changes in individual users’ preferences andbusiness 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, theimpact of the spread of COVID-19, the occurrence of large-scale natural disasters, and other factors. Accordingly, readers are cautioned against placing unduereliance 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 operate. Thesestatements 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 orused 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 orcompleteness of the information contained in this material and shall not be liable for any loss or damage arising from the use of this material.

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