Consolidated Financial Results
for the Fiscal Year
Ended March 31, 2023
(FY2022)PERSOL HOLDINGS CO., LTD.
May 15, 2023
Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved.

Highlights
1

Financial Results for FY2022* (Japanese GAAP)◼ Significant growth with net sales of 1,223.9 billion yen (up 15.4% year on year) and operating
profit of 53.0 billion yen (up 10.2% YoY).
◼ Current net profit after adjustment, on which dividends are based, was 40.9 billion yen (up3.7% YoY).
◼ Annual dividends increased to 61 yen per share, rising from 42 yen per share for FY2021. The
payout ratio rose to approx. 35%, up from approx. 25% for FY2021.
PERSOL acquired treasury shares worth approx. 10.0 billion yen by March 31, 2023 andcompleted cancellation of all acquired treasury shares in April 2023.

2

Changing Segments, Adopting IFRS
◼ Changes have been made in the SBUs, including the establishment of the BPO SBU in FY2023.
◼ IFRS to be applied in FY2023 Q1.

3Financial Forecasts for FY2023 *,Mid-term Management Plan 2026 (IFRS)◼ Revenue and adjusted EBITDA are forecast to be 1,340.0 billion yen (up 7.8% YoY) and 75.5
billion yen in FY2023.
◼ Annual dividends are forecast to be 86 yen (up 25 yen YoY), and the payout ratio is expected tobe approx. 50%.

◼ Mid-term Management Plan 2026 (from April 2023 to March 2026) has been formulated.
* FY2022 is the fiscal year ended March 31, 2023, and FY2023 is the fiscal year ending March 31, 2024 (the same applies hereinafter).
Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved.

2

Summary of
the Consolidated Financial
Results for FY2022

Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved.

JGAAP

FY2022 Consolidated Financial Results (Full Year)
Significant growth in both net sales and operating profit(million yen)
(Reference)
FY2022Full-Year
Forecasts(announced in
April 2023)

FY2021
Full YearFY2022
Full Year

YoY

1,060,893

1,223,967+15.4%

1,210,000

Operating profit

48,14353,061+10.2%

53,000OP margin (%)

4.5%

4.3%

-0.2pt4.4%

67,15076,417+13.8%

75,2006.3%

6.2%-0.1pt6.2%

Net profit before income taxes

50,04340,716-18.6%-Net profit*

31,906

20,578-35.5%

20,400Adjusted items

7,622

20,416+167.8%20,600Adjusted net profit

39,52940,995+3.7%

41,000Adjusted EPS (yen)171.60178.51+4.0%

178.36

Net sales

EBITDAEBITDA margin (%)

The main items
are extraordinary
gains/losses andamortization of
goodwill

Notes 1: Effective in the three months ended December 31, 2021, the accounting process was changed for SaaS in the Australian business in APAC SBU. Accordingly, the change was applied
retroactively to the financial results for the 1st half of FY2021. (The same applies hereinafter.)
2: Effective in the three months ended June 30, 2022, accounting method of asset retirement obligations was changed. Accordingly, these changes were applied retroactively to the financial
results for FY2021. (The same applies hereinafter.)* Net profit attributable to owners of parent company

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4

JGAAP

FY2022 Net Sales by SBU (Full Year)(billion yen)Staffing

Career

+7.4%+38.8%
618.4

575.7

75.2
FY2021

FY2022

Solution+38.2%
11.1

FY2021

Professional Outsourcing+10.7%
104.4

FY2022

121.1

FY2021134.0

FY2022

Asia Pacific+26.8%
15.4

290.1

367.7

全てのSBUでNet
sales increased

売上成長実現in all SBUs
FY2021

FY2022

FY2021

FY2022
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5

JGAAP

FY2022 Operating Profit by SBU (Full Year)(billion yen)Staffing

Career

-8.1%+113.8%

39.3

36.1

FY2021

FY2022

Solution
Investment phase
FY2021

Professional Outsourcing

+8.4%
15.5

7.2
FY2021

FY2022

FY2022＋141.5 %2.5

FY2022△ 3.8

FY2021

7.5

Asia Pacific

1.0
△ 3.0

6.9

FY2021An increase in profit
was driven by Career,which achieved high growththroughout the year.

FY2022
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6

JGAAP

Analysis of Increase/Decrease in Operating Profit in FY2022
Gross profit grew steadily. Personnel expenses and advertising expenses continued
to be allocated to strengthen the competitiveness needed to achieve growth.
Increase in depreciation due tosystem investment and changes
in accounting process, etc.

Profit increased primarily
in the Career SBU.

41.8

+

Increase inpersonnel expenses
Increase in-19.4
advertising expenses-5.7

Increase ingross profit

Increased mainly in the
Career SBU, which is taking
measures to increase personnel(billion yen)

Increase inother expenses-11.6

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7

JGAAP(Reference) FY2022 Net Sales by SBU (Full Year)(million yen)
(Reference)
FY2022
Full Year
Forecasts(announced in
November 2022*1)

FY2021
Full YearFY2022
Full Year

YoY

1,060,893

1,223,967+15.4%

1,210,000

Staffing

575,743

618,481+7.4%

615,000

Career

75,279104,467+38.8%

103,000

Professional Outsourcing

121,109

134,085+10.7%

133,500

Solution

11,16915,434+38.2%

15,500Asia Pacific290,138

367,779+26.8%

360,000

Others13,755

16,904+22.9%

16,000Adjusted-26,302-33,186--33,000

Consolidated*1 The latest forecast was announced in April 2023, although sales figures remain unchanged from those announced in November 2022,
therefore, the relevant figures are stated.
*2 Exchange rates [USD (PERSOLKELLY)] FY2021: 109.9 yen, FY2022: 131.6 yen/ [AUD (Programmed)] FY2021: 82.5 yen, FY2022: 91.1 yen
Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved.

8

JGAAP(Reference) FY2022 Operating Profit and OP Margin by SBU(Full Year)(million yen)

Consolidated

Staffing
CareerProfessional Outsourcing
Solution
Asia Pacific
OthersAdjusted

FY2021
Full YearFY2022
Full Year48,143

0.4%

53,061
4.3%
36,1805.8%
15,532
14.9%
7,518
5.6%
-3,837-24.9%
2,517
0.7%

-801

-2,598

4.5%
39,359
6.8%

7,264
9.6%
6,934

5.7%
-3,058-27.4%

1,042

YoY(Reference)
FY2022
Full Year
Forecasts(announced in
November 2022*1)+10.2%

53,000-0.2pt

4.4%

-8.1%

36,600-1.0pt6.0%+113.8%15,200+5.2pt

14.8%

+8.4%

8,000

-0.1pt6.0%--3,950+2.5pt-25.5%+141.5%1,850+0.3pt

0.5%

-708

-

-600

-4,140--4,100*1 The latest forecast was announced in April 2023, although profits figures remain unchanged from those announced in November 2022,
therefore, the relevant figures are stated.
*2 Exchange rates [USD (PERSOLKELLY)] FY2021: 109.9 yen, FY2022: 131.6 yen/ [AUD (Programmed)] FY2021: 82.5 yen, FY2022: 91.1 yen
Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved.

9

(Reference) FY2022 EBITDA and EBITDA Margin by SBU(Full Year)(million yen)

Consolidated
Staffing
CareerProfessional Outsourcing

Solution
Asia Pacific

OthersAdjusted

YoY(Reference)
FY2022
Full Year
Forecasts(announced in
November 2022*1)+13.8%

75,2002.7%

76,4176.2%
41,004
6.6%
19,913
19.1%
9,320
7.0%
-1,965-12.7%
10,1492.8%-344-1,524FY2021
Full YearFY2022
Full Year

67,1506.3%
43,354
7.5%
11,034

14.7%
8,453
7.0%
-1,513-13.5%
7,691-0.1pt

6.2%

-5.4%

41,100-0.9pt6.7%+80.5%

19,600+4.4pt19.0%+10.3%

9,800+0.0pt7.3%--2,100+0.8pt-13.5%+32.0%

9,400+0.1pt

2.6%

-2

-

-0

-2,002--2,600*1 The latest forecast was announced in April 2023, although profits figures remain unchanged from those announced in November 2022,
therefore, the relevant figures are stated.
*2 Exchange rates [USD (PERSOLKELLY)] FY2021: 109.9 yen, FY2022: 131.6 yen/ [AUD (Programmed)] FY2021: 82.5 yen, FY2022: 91.1 yen
Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved.

10

JGAAP

FY2022 Consolidated Balance Sheet
A strong financial position was maintained, and the Long-term Issuer Rating was kept at A (positive).

Current assets

FY2021Results

FY2022
Results

Change286,897304,281+17,384(Details)

Cash anddeposits
Accounts
receivable - tradeNon-current
assetsCurrent
liabilities(million yen)

FY2021Results

FY2022
Results

Change167,893

195,421+27,527

11,466

11,422-44

81,81391,934+10,12152,85046,005-6,84440,00030,116-9,883(Details)

107,545

99,757-7,788150,073

160,879+10,806

138,213

137,877-336(Details)

Borrowings
Accounts
payable - otherNon-current
liabilities(Details)

Bonds payable
and borrowings

Goodwill

61,67452,344-9,329Software

16,78718,081+1,293

Total liabilities

220,743

241,426+20,683

Investments andother assets

29,67036,707+7,037

Net assets

204,367

200,732-3,634425,110442,159+17,048

Total liabilities
and net assets

425,110442,159+17,048

Total assets

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11

Balance of Goodwill(million yen)

SBU

As of March 31, 2023

Staffing SBU

7,216

Career SBU

15,192

Professional Outsourcing SBU

6,539

Asia Pacific SBU

21,930PERSOLKELLY

1,445

Programmed Staffing

5,407

Programmed Property Services

1,281

Programmed Facility Management

10,871

Programmed Others

1,087

Others1,835

Other than the above
Total

1,464
52,344◼ PERSOL clarified priority
fields of the Maintenancebusiness of Programmed
and divided the business
into Facility Management
and Property Services for
impairment tests.
◼ Goodwill in Property
Services was reduced byapprox. 8.3 billion yen due
to the impairment losses
disclosed on April 11, 2023.

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12

JGAAP

FY2022 Consolidated Cash Flow Statements
Cash flows from investing activities increased in expenditures compared to the previous year, due tothe purchase of intangible fixed assets, etc.
Free cash flows decreased from the previous year as the increase in cash flows from investing
activities exceeded the increase in cash flows from operating activities.
(million yen)

FY2021Results
Cash flows from operating
activities
Cash flows from investing
activities
Free Cash flows
Cash flows from financing
activities
Cash and cash equivalents at
end of period

FY2022
Results

YoY

50,692

52,796+2,103-7,057-22,504-15,446

43,63430,291-13,343-21,145-38,268-17,123

106,558

99,658-6,899Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved.

13

Capital Efficiency Index: ROIC and ROE Trends

ROIC

（%）

20

14.2

15
10

15.3

10

5

5

0

0

FY2021

18.9

20
15

9.2

FY2020ROE（%）

FY202211.2

10.2

FY202017.2*

FY2021

FY2022* ROE excluding the impact of impairment losses announced on April 11, 2023

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14

Financial Results by SBU
for the Fiscal Year
Ended March 31, 2023
(FY2022)

Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved.

JGAAP

Financial Results by SBU –Staffing SBU–
Net sales rose 7.4% year on year, and gross profit increased steadily.
Operating profit declined due to a decrease in orders related to COVID-19 (-3.5 billion yen, a temporary factor)
and the adverse effect of the revision of the Act on Social Insurance Premiums (-2.0 billion yen), etc.

Net sales(million yen)

+7.4%
575,743

Operating profit

Composition of sales

Impact of decrease in COVID-19 related projects -3.5 billion yen

618,481

FY2022-8.1%
39,359（6.8%）

36,18015%(5.8%)

Staffing
BPO

85%

FY2021
Full-Year results

FY2022Full-Year results

FY2021
Full-Year results

FY2022Full-Year results* Percentage figures in parentheses indicate OP Margin.

Comments on the quarter (January to March 2023)
Staffing

Demand from companies for temporary staffing was firm.
The number of active staff hit a record high.

◼ No. of orders: Increased approx. 0.2% YoY (Impact mainly from COVID-19 related projects)◼ No. of confirmed contracts: Decreased approx. 2.8% YoY (Impact mainly from COVID-19
related projects)◼ No. of contract terminations: The ratio of the no. of contract terminations to the no. of active
staff remained almost equivalent to the pre-COVID-19 level.

BPO

Orders for ordinary projects went well.
Orders related to COVID-19 fell significantly from the yearago level (-57% YoY).

Analysis of increase/decrease in sales
1) Staffing: Up 7.6%
Number of active staff: +7.8%
Unit price: +1.2%
Operating hours, etc. (per staff member): -3.1%
No. of operating days: +1.7% (-1 day YoY)
2) BPO: Down 12.3%
The rate of increase in sales excluding sales related to COVID19 was 15%.
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16

JGAAP

Financial Results by SBU –Career SBU–
(million yen)

Net sales+38.8%

Operating profit

Composition of sales
FY2022+113.8%8%

15,532

104,467
75,2797,264

Placement business22%(14.9%)

Job recruitment media

70%

Others

（9.6%）FY2021
Full-Year results

FY2022Full-Year results

FY2021
Full-Year results

FY2022Full-Year results* Percentage figures in parentheses indicate OP Margin.

Comments on the quarter (January to March 2023)
Placement business◼ Sales increased in the high 40% range year on year.
◼ Recruitment of Career Advisor (CA) was also steady.

Job recruitment media◼ Sales increased more than 30% YoY.

Conditions of the career-change market◼ The entire market continued to be booming.
◼ Demand continued to be strong in the service industry (particularly in the hotelindustry and tourism industry).
◼ Significant signs of macro impacts, such as the impacts of the internationalsituation, rising commodity prices, and credit uncertainty have yet to emerge.
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17

JGAAP

Financial Results by SBU –Professional Outsourcing SBU–
(million yen)

Net sales

Operating profit+10.7%
121,109

Composition of sales
FY2022+8.4%

134,085

7,518

6,934

IT

33%
(5.6%)（5.7%）

41%

26%
FY2021
Full-Year results

FY2022Full-Year results

FY2021
Full-Year results

Engineering

IT/engineering
temporary staffing

FY2022Full-Year results* Percentage figures in parentheses indicate OP Margin.

Comments on the quarter (January to March 2023)
IT◼ Sales increased by 9%, with demand remaining at a high level.
◼ Operating rate: Approx. 95%◼ No. of engineers: Approx. 5,200 (Up 9.4% YoY)

Engineering◼ Sales increased by 10% due to strong demand.
◼ Operating rate: Approx. 96%◼ No. of engineers: Approx. 3,500 (+7.4% YoY)

IT/engineering temporary staffing◼ Sales increased by 8% with strong results in both the IT area andengineering area.
◼ No. of active engineers*: Approx. 6,300 (Up 5.1% YoY)

Hiring of engineers (overall SBU)
◼ Despite fierce competition to acquire engineers, the number of engineers
hired increased to 131% of the previous year's total due to strengthened
recruitment efforts.

* The number of active engineers include registered engineers.

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18

JGAAP

Financial Results by SBU –Solution SBU–
(million yen)

Net sales

Operating profit/lossｰ%+38.2%◼ MIIDAS job search application
Japan's first* job search application featuring aunique Possibility Diagnosis, with which users receive
job offers from companies where they are highly
likely to demonstrate their capabilities

15,434
11,169（-27.4%）-3,058FY2021
Full-Year results

FY2022Full-Year results

FY2021
Full-Year results

Outline of services* Japan's first free smartphone application diagnosis service that enables tohire, allocate, and develop human resources by using Bias Diagnosis Gameand competency diagnosis (based on research by ESP Research Institute)(-24.9%)-3,837
FY2022Full-Year results◼ POS+ cloud POS
Cloud POS cash register is offered mainly torestaurants and retailers to help them improve
operating efficiency and increase sales.

* Percentage figures in parentheses indicate OP Margin.

Comments on the quarter (January to March 2023)
MIIDAS◼ Sales increased YoY.
◼ The cumulative number of account companies, mainly SMEs, increased
approx. 1.2 times YoY.

POS+
◼ Sales increased YoY with an increase in orders for public related projects inaddition to restaurants, retailers, and hairdressing salons.
◼ As a result of strengthened sales activities, the cumulative total number ofstores that introduced the service increased approx. 1.2 times YoY.

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19

JGAAP

Financial Results by SBU –Asia Pacific SBU–
* Actual values in Q1-Q4 (January to December 2022) in the region

Net sales+26.8%(million yen)

Operating profit

Composition of sales
FY2022+141.5%

367,779

Singapore: 43%
Malaysia: 15%
India: 11%
China: 4%

2,517

290,138
1,042(0.7%)

Staffing: 46%
Maintenance: 52%
Other: 2%（0.4%）FY2021
Full-Year results

FY2022Full-Year results

FY2021
Full-Year results

FY2022Full-Year results

25%

75%

Programmed

PERSOLKELLY* Percentage figures in parentheses indicate OP Margin.

Comments on the quarter (October to December 2022)

Comments on the quarter (January to March 2023)

PERSOLKELLY◼ Sales increased by 16.4% due to steady growth achieved by the placementbusiness and the effects of exchange rates.
◼ Profit was adversely affected by the COVID-19 policy in China but rose due
to high growth in emerging countries.

Status of the overall SBU◼ While the impact from the COVID-19-related policy in China persisted, the
SBU enjoyed steady growth mostly in other regions.

Programmed◼ Sales increased by 31.4% due to high growth achieved by the Maintenancebusiness and the strong Australian dollar.
◼ Profit grew mainly due to the effect of increased sales* Exchange rates [USD (PSK)] FY2021: 109.9 yen, FY2022: 131.6 yen [AUD (PRG)]FY2021：82.5 yen, FY2022: 91.1yen

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20

JGAAP(Reference) Breakdown of Asia Pacific SBU Results
Breakdown of financial results of PERSOLKELLY and Programmed in Asia Pacific SBU is as follows.
(million yen)

FY2021Q4

FY2022Q4YoY

FY2021
Full YearFY2022
Full Year

YoY

77,451

99,02027.8%

290,138

367,779

26.8%

PERSOLKELLY

20,81624,231

16.4%

75,39891,13720.9%

Programmed

56,63474,44031.4%

214,739

276,293

28.7%

Operating profit

737

1,705

131.3%

1,042

2,517

141.5%PERSOLKELLY

148

390

162.9%

977

1,543

57.8%

Programmed

851

1,862

118.8%

667

2,318

247.3%

2,340

3,681

57.3%

7,691

10,14932.0%

PERSOLKELLY

317

589

85.7%

1,651

2,253

36.5%

Programmed

2,281

3,629

59.1%

6,633

9,218

39.0%

Net sales

EBITDA

Notes 1: This SBU consists of an administrative department overseeing businesses and other organizations in addition to PERSOLKELLY and Programmed. Results of the said department, etc. are not included in
the above, so the total values for each item differ from the sum of PERSOLKELLY and Programmed.
2: Exchange rates [USD (PERSOLKELLY)] FY2021: 109.9 yen, FY2022: 131.6 yen/ [AUD (Programmed)] FY2021: 82.5 yen, FY2022: 91.1 yen
3: The above results for Q4 and FY2022 are actual values in the Q4 (October to December 2022) and full year (January to December 2022) in the region, and results for Q4 and FY2021 are actual valuesin Q4 (October to December 2021) and full year (January to December 2021) in the region.
All of the values were calculated based on Japanese GAAP.

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21

JGAAP

Financial Results of Others and Adjustment(million yen)

Others
Net sales

13,755Adjustment

Operating profit/loss

Net sales

Operating profit/loss

16,904-2,598-801
FY2021
FY2022Full-Year Results Full-Year Results-708

FY2021
FY2022Full-Year Results Full-Year Results

Comments on the quarter (January to March 2023)◼ Net sales increased YoY due to an increase in internaltransactions within the Group in the disabled persons hiring
business of special subsidiaries.
◼ Operating loss increased mainly due to an increase in personnel
expenses, despite the increase in revenues mentioned above.

-4,140-26,302-33,186
FY2021
FY2022Full-Year Results Full-Year Results

FY2021
FY2022Full-Year Results Full-Year Results

Comments on the quarter (January to March 2023)◼ Cost increased, primarily in the cost of outsourcing, including
outsourcing for corporate measures, and an increase indepreciation expenses related to changes in accounting
processes.

Note: For details of Others and Adjustment, please refer to notes on segment information, etc.
in the Consolidated Financial Results.

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22

Changes in Segments

Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved.

Changes in Segments◼ Effective on April 1, 2023, the SBU structure was changed based on the business strategy under the
Mid-term Management Plan 2026.
◼ (1) The BPO business was separated from Staffing SBU and PRO* SBU, and established as a new SBU.
(2) Solution SBU was changed to R&D Function Unit (FU) .
◼ PRO SBU was renamed to Technology SBU.
Before (FY2022)
Business Segment

Staffing SBU
PRO* SBU

Career SBU

Solution SBU

Asia Pacific SBU

Others* Professional Outsourcing

After (FY2023 onward)

Main Business Areas

Temporary staffing
BPO
EngineerIT

IT engineer temporary staffing(1)(1)
Partially

Main Business Areas

Business Segment

Temporary staffing

Staffing SBU

BPOConsulting

Placement businessEngineer / IT

Job recruitment media / Others

IT engineer temporary staffing

Placement business

New incubation
PERSOLKELLY

Programmed
OthersJob recruitment media / Others(2)

PERSOLKELLY
Programmed
New incubation
OthersBPO SBU

Technology SBU

Career SBU

Asia Pacific SBU
R&D FU
OthersCopyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved.

24

New SBU Structure (Apr. 1, 2023 and Onward)
SBU Structure of PERSOL HOLDINGS

Representative Director,
President and CEO
Takao Wada

Leaders of SBU
NEW

Staffing SBU

BPO SBU

Kazunari Kimura

Kazuyuki Ichimura

Career SBU
Yu Senoo

Technology SBU
Shinji Masaki

Asia Pacific SBU
Takayuki Yamazaki

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25

Transition to IFRS

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Schedule of IFRS Application◼ The International Financial Reporting Standards (IFRS) will begin to be applied in the
1st quarter of FY2023 to respond to globalization.
◼ Fiscal year-end of Asia Pacific SBU has been changed from December 31 to March 31 aswith all the others.
(Financial data to be reported in the consolidated financial statements is changed from a three-month lag tothe same time frame.)
Disclosure schedule (plan) associated with the voluntary application of IFRSFiscal year-end
FY2022

FY2023Full Year

Q1 to Q3

Full Year

Disclosure documents

GAAP

Consolidated financial results

JGAAP

Consolidated financial statements required under the Companies Act

JGAAP

Securities report

JGAAP

Quarterly consolidated financial results

IFRS

Quarterly report

IFRS

Consolidated financial results

IFRS

Consolidated financial statements required under the Companies Act

IFRS

Securities report

IFRS

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27

JGAAP

IFRS

From Operating Profit (Japanese GAAP) to adjusted
EBITDA (IFRS)GAAP bridge of operating profit
Amortization of goodwill:
Increase/decrease in accrued paid leave:

7.4 billion yen-3.6 billion yen* Estimates (not audited)billion yen

53.0

42.6
Net amount of adjustment fromJapanese GAAP operating profit
to IFRS operating profit-10.4 billion yen

Net amount of adjustment from IFRS
operating profit to IFRS adjusted EBITDA+32.6 billion yen

75.2

*1
*2
*1
*2

(Office rental, etc.)± other revenues and expenses as well as other non-recurring profit/loss (including impairment loss)
IFRS adjusted EBITDA = operating profit + depreciation (excluding lease depreciation and amortization) ± increase/decrease in accrued paid leave +share-based payment expenses ± other revenues and expenses ± other non-recurring profit/loss

Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved.

28

FY2023 Financial Forecasts(IFRS basis)

Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved.

IFRS

Full Year Financial Forecasts for FY2023 (Consolidated)
Adjusted EBITDA has been made a key performance indicator (KPI).
(billion yen)

FY2022
Results*1

FY2023
Forecasts

Revenue

1,242.6

1,340.0+7.8%

Operating profit (IFRS）

42.6

54.5

+27.7%

Adjusted EBITDA*2

75.2

75.5

+0.4%

Profit*3

23.5

33.5

+42.2%

Current net profit after
adjustment*4

40.5

39.0

-3.9%

Adjusted EPS*5 (yen)176.73

171.41

-3.0%

61

86

+25

Dividend per share (yen)YoY*1 Estimate (not audited)*2 Adjusted EBITDA = operating profit + depreciation (excluding lease depreciation and amortization) ± adjusted items(1)Adjusted items(1): ± increase/decrease in accrued paid leave + share-based payment expenses ± other revenues and expenses ± other non-recurring profit/loss*3 Net profit attributable to owners of the parent company*4 Current net profit after adjustment = Profit ± adjusted items(2) ± tax reconciliation related to certain adjustment items(2)Adjusted items(2): [± increase/decrease in accrued paid leave + share-based payment expenses ± non-recurring profit/loss + amortization of intangible assets except goodwill byacquisitions] (including those attributable to non-controlling interests)*5 Adjusted EPS = Current net profit after adjustment / (average number of shares issued during the period - average number of treasury shares during the period)

Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved.

30

IFRS

Full Year Financial Forecasts for FY2023 (by SBU)
Revenue(billion yen)

FY2022
Results*1

FY2023
Forecasts

1,242.6

1,340.0+7.8%

Staffing

544.7

597.0

+9.6%

BPO

114.6

104.0

-9.3%

Technology

93.5

102.0

+9.0%

Career

104.4

137.0

+31.1%

Asia Pacific*2

386.4

399.0

+3.3%

Others32.2

39.0+21.1%

Adjusted

-33.4

-38.0

ー

Consolidated

YoY*1 Estimate (not audited)*2 FY2023 financial forecast is based on the period after change in the fiscal year end (April 2023-March 2024).
Exchange rates [USD (PERSOLKELLY)] FY2022: 131.6 yen, FY2023: 130.0 yen/ [AUD (Programmed)] FY2022: 91.1 yen, FY2023: 90.0 yen

Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved.

31

IFRS

Full Year Financial Forecasts for FY2023 (by SBU)
Operating Profit & OP Margin(billion yen)

FY2022
Results*1

FY2023
Forecasts
54.5
4.1%
26.8
4.5%
7.2
6.9%
5.2
5.1%
21.8
15.9%
6.8
1.7%
-2.9

+27.7%+0.6pt+20.4%+0.4pt-51.2%-6.0pt+2.7%-0.3pt+29.5%-0.2ptOthers

42.6
3.4%
22.2
4.1%
14.7
12.9%
5.0
5.4%
16.8
16.1%
-4.4
-1.1%
-7.9

Adjusted

-3.9

-10.4

ー

Consolidated

Staffing
BPO
Technology
CareerAsia Pacific*2

YoYー+2.8ptー*1 Estimate (not audited)*2 FY2023 financial forecast is based on the period after change in the fiscal year end (April 2023-March 2024).
Exchange rates [USD (PERSOLKELLY)] FY2022: 131.6 yen, FY2023: 130.0 yen/ [AUD (Programmed)] FY2022: 91.1 yen, FY2023: 90.0 yen

Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved.

32

IFRS

Full Year Financial Forecasts for FY2023 (by SBU)
Adjusted EBITDA & Adjusted EBITDA Margin(billion yen)

FY2022
Results*1

FY2023
Forecasts
75.5
5.6%
31.1
5.2%
9.6
9.2%
6.8
6.2%
27.1
19.8%
10.2
2.6%
-0.6

+0.4%
-0.4pt+17.0%+0.3pt-45.1%-6.0pt+0.7%-0.6pt+34.5%+0.5pt+33.2%+0.6%

Others

75.2
6.1%
26.5
4.9%
17.4
15.2%
6.7
7.2%
20.1
19.3%
7.6
2.0%
-1.4

Adjusted

-1.9

-8.6

ー

Consolidated

Staffing
BPO
Technology
CareerAsia Pacific*2

YoYー*1 Estimate (not audited)*2 FY2023 financial forecast is based on the period after change in the fiscal year end (April 2023-March 2024).
Exchange rates [USD (PERSOLKELLY)] FY2022: 131.6 yen, FY2023: 130.0 yen/ [AUD (Programmed)] FY2022: 91.1 yen, FY2023: 90.0 yen

Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved.

33

JGAAP

IFRS

Trend and Forecast of Dividend Per Share◼ Adjusted EPS for the fiscal year ended March 31, 2023 is 178.51 yen. According to the change in dividend
forecast we announced in April 2023 (approx. 25% of adjusted EPS → approx. 35%), the amount of yearend dividend per share will be 40 yen, up 19 yen from the initial forecast amount of 21 yen, resulting in theamount of annual dividend at 61 yen (the largest ever amount).
◼ The annual dividend for the fiscal year ending March 31, 2024 is forecast to be 86 yen in accordance withthe dividend policy (approx. 50% of adjusted EPS) under the new Mid-term Management Plan.
(yen)(Forecast)
Annualdividend

100

Year-end dividendInterim dividend

86 yen

80

43

60

40

40
20
0

22

15

13

15

13

FY2019FY202020

21

FY2021

FY2022

FY2023
IFRS(Forecast)

JGAAP (Actual)
Adjusted EPS (yen)43148.44100.98171.60178.51

171.41Dividend payout ratio (%)*
based on adjusted EPS

20.2

25.7

24.5

34.2

50.2

Total dividend amount (million yen)

6,967

6,022

9,745

14,024

19,689* The dividend payout ratio for FY2019 was calculated by converting the base profit to adjusted EPS.

Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved.

34

JGAAP

Adjusted EPS (~FY2022 JGAAP)In the Mid-term Management Plan 2023, we shifted to a dividend policy that focuses on dividend payout ratio(approx. 25% of adjusted EPS).
Adjusted EPS is calculated excluding the effects of goodwill amortization and extraordinary income/loss amounts,
etc.
Adjusted EPS

Current net profit
after adjustment

Current net profit
after adjustment

Current net profit
attributable to ownersof parent company(million yen)

Current net profit attributable to owners of parent
company÷±Average number of shares issued during the period –Average number of treasury shares during the period

Adjusted items(excluding those attributable
to non-controlling interests)

FY2021
Full Year±Tax reconciliation
related to certain
adjustment items

FY2022
Full Year

31,906

20,578

Details of adjusted items

Adjusted items

7,841

21,970Tax reconciliation related to certain adjustment items-218-1,554◼ Amortization of intangible
assets except goodwill byacquisitions

39,52940,995◼ Amortization of goodwill

230,361,358

229,655,261

171.60178.51

Current net profit after adjustment

Number of shares (share)*Adjusted EPS (yen)* Number of shares = average number of shares issued during the period - average number of treasury shares during the period◼ Extraordinary income/losses

Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved.

35

IFRS

Adjusted EBITDA, Adjusted EPS (FY2023~ IFRS)◼ In the Mid-term Management Plan 2026, adjusted EBITDA is a key performance indicator (KPI). More emphasis isplaced on shareholder return, and the payout ratio will be approx. 50% of adjusted EPS.
◼ Adjusted EPS is calculated by excluding the impacts of increase/decrease in accrued paid leave, share-based payment
expenses, etc.
Adjusted EBITDA

Operating profit＋

Adjusted EPS

Current net profit
after adjustment

÷Current net profit
after adjustment

Net profit±(million yen)

FY2022 (IFRS)

Depreciation(excluding lease depreciation and amortization)±

Adjustment Item (1)Average number of shares issued during the period- Average number of treasury shares during the period±

Tax reconciliation related tocertain adjustment items

Contents ofadjusted item (2)Contents ofadjusted item (1)Adjustment Item (2)Profit23,561◼ Increase/decrease in accrued
paid leave◼ Increase/decrease in accrued
paid leave

Adjustments

20,166◼ Share-based payment expenses◼ Share-based payment expenses

Tax reconciliation related tocertain adjustment items-3,139◼ Non-recurring profit/loss◼ Other revenues and expenses

Current net profit after
adjustment◼ Amortization of intangible assets
except goodwill by acquisitions◼ Other non-recurring profit/loss

40,587

Number of shares (share)*Adjusted EPS (yen)229,655,261* Including items attributable to noncontrolling interests

176.73* Number of shares = average number of shares issued during the period - average number of treasury shares during the period

Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved.

36

Total Shareholder Return in Mid-term Management
Plan Period (April 1, 2020 to March 31, 2023)
We attach importance to shareholder returns, so total shareholder return is one of the important indexes that
we track.
Total shareholder return at PERSOL in the past three years are approx. 120 percentage points higher than
Nikkei 225 and TOPIX.

% change of share price*1
Dividend yield*2
Total shareholder return*3

Nikkei 225

TOPIX

PERSOL

155.2%

148.3%

257.9%

-

-

12.5%

155.2%

148.3%

270.5%*1. % change of share price = (Closing stock price as of March 31, 2023 / Closing stock price as of April 1, 2020) x 100*2. Dividend yield = (Cumulative amount of dividend per share during the period/Closing stock price as of April 1, 2020) x 100*3. Shareholder total return = % change of share price + Dividend yield
Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved.

37

Mid-term Management Plan
2026

Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved.

Mid-term Management Plan 2026
◼ Details of the Mid-term Management Plan 2026 are available here.

Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved.

39

Appendix

Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved.

Overview of Each SBU's Business
Staffing SBU◼ Temporary staffing

BPO SBU◼ BPO(clerical work, research, clinical(clerical work, government,

development, sales, light work,

recruitment, sales, digital marketing,factory occupations, etc.)

call center, ICT areas)◼ Temporary job placement
ahead of permanent
employment/permanent
placement◼ Outsourcing/Contracting(clinical development, sales, light
work, factory occupations)◼ IT and business consulting◼ Health care services

Technology SBU◼ Engineering(design and experiment)◼ Temporary staffing(IT and engineering)

Career SBU◼ Permanent placement(mid-career, new grad recruitment)◼ Career change media,
direct recruiting

Asia Pacific SBU◼ Temporary staffing◼ Permanent placement◼ Facility management &maintenance◼ Side job, multiple job,
freelancer support◼ Outsourcing◼ Outplacement support◼ Human resource
management consulting◼ Employment support forforeigners◼ Education, training◼ Digital solutions◼ Home care

Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved.

41

Sustainability Initiatives

Workplace Well-being AWARDS 2023 by PERSOL◼ On March 7, we granted awards to five people from four groups, who have envisioned and selected
their own careers proactively, took actions, and as a result, materialized Workplace Well-being(happiness felt by a worker through their own work) most remarkably in the past year and changed
the smiles lying ahead into the power of society.
Details are available here (Only available in Japanese).

Thinking about the Future of Japan Seriously with Working Women, a special
event for International Women's Day◼ We took the International Women's Day in March as an opportunity to hold a special online event,Thinking about the Future of Japan Seriously with Working Women. The event was held to think about
the workstyles of various individuals, including the promotion of active participation of women. We
held discussions with specialists on various themes on March 13 and 14.
Details are available here (Only available in Japanese).
Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved.

42

Business Topics: Staffing SBU
Persol Tempstaff Co., Ltd. will celebrate the 50th anniversary of its foundingon May 24, 2023.

A 50th anniversary special website has been launched.
Details are available here (Only available in Japanese).

Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved.

43

Business Topics: Technology SBU
G7 Digital and Tech Ministers' Meeting in
Takasaki, Gunma
Ran a Booth at the Digital and Tech Exhibition- Persol Cross Technology Co., Ltd. ran a booth at the
Digital and Tech Exhibition to demonstrate advanced
technologies in Japan to the G7 countries.
- Persol Cross Technology Co., Ltd. exhibited robots andmobility vehicles, which are keys to solving the labor
shortage problem, and presented solutions and services
using digital transformation to improve productivity.

Details are available here. (Only available in Japanese)

Joint Development of a New Type of Mobility
Participated in Next-Generation Mobility Town
Experience
A test-ride event was held at the National Museum of
Emerging Science and Innovation for Partner Mobility
One, a small, self-driving vehicle developed jointly by
the Intelligent Mobility Lab of the Kurume Institute ofTechnology, Le DESIGN, a venture from the Kurume
Institute of Technology, and Persol Cross Technology
Co., Ltd.

Details are available here. (Only available in Japanese)
Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved.

44

Staffing SBU: Changes in the No. of Orders andthe No. of Active Temporary Staff
The number of active temporary staff rose steadily, up 7.8% YoY.
140

140,000

No. of orders (index)

No. of active temporary staff (people)

Jan. 2023

0

Oct.

0

Jul.

20,000Apr.

20

Jan. 2022

40,000

Oct.

40

Jul.

60,000Apr.

60Jan. 2021

80,000

Oct.

80

Jul.

100,000

Apr.

100

Jan. 2020

120,000

No. of active temporary staff (people)

No. of orders (index)

120(Research by PERSOL Holdings) Each value for the No. of orders was indexed by assuming that the value for January 2020 is 100.
*The number of orders (index) has been corrected due to an error in the figures since January 2023. (July 2024)

Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved.

45

Career SBU:
Changes in Job-Openings-to-Applicants Ratio of “doda”
The number of jobs available has increased for 31 consecutive months since September 2020.
It has been hitting a record high since April 2019.
Job-openings-to-applicants ratio
in March 2023
400,000

3.00

2.25

2.50

350,000

Number of candidates who want to change job
300,000

Job-openings-to-applicants ratio
2.00

250,000
1.50

200,000
150,000

1.00
100,000
0.50

50,000Source: “doda”, Tenshoku kyujin bairitsu report (report on job-openings-to-applicants ratio) (March 2023)
Calculated based on the number of jobs available for each registrant (job seeker) in the “doda”

Jan. 2023

Oct.

Jul.

Apr

Jan. 2022

Oct.

Jul.

Apr.

Jan. 2021

Oct.

Jul.

0

Apr.

0.00

Jan. 2020

Job-openings-to-applicants ratio (times)

Number of jobs available

Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved.

46

Changes in Job-Openings-to-Applicants Ratio of“doda” by Job Type

Jan. 2023

OthersOct.

Clerical worker/assistantJul.

Creator

Apr.

Specialist job (consulting/finance)

Jan. 2022

Specialist job (construction/real estate)

Oct.

Specialist job (chemistry/food)Jul.

Specialist job (medical)

Apr.

Engineering (machinery/electricity)

Jan. 2021

Engineering (IT/telecommunications)

Oct.

Planning & management

Jul.

Sales

Apr.

Sales/services

14
12
10
8
6
4
2
0

Job-openings-to-applicants ratio (times)

Jan. 2020

By job type, the job-openings-to-applicants ratio is high especially in engineering (IT/telecommunications).

Source: “doda”, Tenshoku kyujin bairitsu report (report on job-openings-to-applicants ratio) (March 2023)
Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved.

47

Changes in Job-Openings-to-Applicants Ratio of"doda" by Business TypeBy business type, the job-openings-to-applicants ratio is high, especially in HR services, consulting, andIT/telecommunications.
IT & Telecommunications

Media

Finance

Healthcare

Manufacturers

Trading Companies

Retail & Distribution

Leisure & Restaurants

EnergyConsulting

Human resource services

Jan. 2023

Oct.

Jul.

Apr.

Jan. 2022

Oct.

Jul.

Apr.

Jan. 2021

Oct.

Jul.

Apr.

Jan. 2020

Others

10
9
8
7
6
5
4
3
2
1
0

Job-openings-to-applicants ratio (times)

Construction & Real Estate

Source: "doda," Tenshoku kyujin bairitsu report (report on job-openings-to-applicants ratio) (March 2023)
Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved.

48

Targeted Annual Income Group of Career SBU’s Main
Services◼ The main target of doda, our representative brand, is the majority group with annual income range of 4 to
6 million yen.
◼ In addition, PERSOL will aim to broaden the base to the high-class domain with new services, including
doda X, which has been rebranded in October 2022.
Groups of job seekers

Number of job seekers*
Composition ratio*(Number of persons employed*)

Career SBU’s Main Services
Placement
business

Annualincomelevel

Job recruitment
media

Directrecruiting

Other

240,000
approx. 5%(3,090,000)

10 million yen
800,000
approx.15%(7,940,000)

6 million yen

Majority group
4 million yen

4,300,000
approx.80%(25,760,000)

2 million yen*

Calculated based on a market survey of corporate employees, including temporary staff and contract employees, and corporate officers, which was conducted by Persol Career Co., Ltd. in 2022

49

JGAAP

Consolidated Quarterly Results(million yen)
FY2020
Q4
Net sales
YoY
Operating profit

OP margin
EBITDAEBITDA margin
Quarterly net profit
attributable to ownersof parent company

FY2021Q1Q2

FY2022

Q3

Q4

Q1

Q2

Q3

Q4

246,883 250,432 262,415 267,342 280,703 284,100 302,649 315,317 321,900
-1.0%

+5.1%

+15.3%+12.3%+13.7%+13.4%+15.3%+17.9%

14.7%

3,842

12,973

13,474

14,363

7,332

16,495

14,221

14,718

7,626

1.6%

5.2%

5.1%

5.4%

2.6%

5.8%

4.7%

4.7%

2.4%

8,496

17,63818,121

19,116

12,274

21,97819,992

20,692

13,753

3.4%

7.0%

6.9%

7.2%

4.4%

7.7%

6.6%

6.6%

4.3%

2,816

8,383

7,001

8,517

8,004

10,301

8,487

8,372

-6,583Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved.

50

JGAAP

Staffing SBU(million yen)
FY2020
Q4
Net sales
YoY

FY2021Q1Q2

FY2022

Q3

Q4

Q1

Q2

Q3

Q4

135,870 137,846 141,507 146,728 149,660 151,432 151,424 158,006 157,618
+3.8%

+5.5%

+9.2%

+9.4%

+10.1%

+9.9%

+7.0%

7.7%

5.3%

4,452

10,428

11,433

10,606

6,892

11,670

10,204

9,808

4,496

3.3%

7.6%

8.1%

7.2%

4.6%

7.7%

6.7%

6.2%

2.9%

5,387

11,37012,395

11,596

7,991

12,890

11,39010,985

5,738

4.0%

8.2%

8.8%

7.9%

5.3%

8.5%

7.5%

7.0%

3.6%

No. of operating days

60

61

58

61

59

61

59

60

60

No. of active staff YoY

-

-1.7%

+4.0%

+6.9%

+8.1%

+8.2%

+8.1%

+8.8%

+7.8%

Billing rates YoY

-

+0.4%

＋0.5%

＋0.5%

＋0.7%

+0.9%

+1.1%

+1.1%

+1.2%

Operating hours, etc.
YoY

-

+5.1%

＋1.4%

-0.3%

+0.1%

-1.1%

-2.8%

-1.4%

-3.1%

Operating profit

OP margin
EBITDAEBITDA margin

Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved.

51

JGAAP

Career SBU(million yen)
FY2020

FY2021

FY2022

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Net sales

16,25817,602

17,33918,702

21,63524,19824,87225,996

29,400

YoY-16.7%+4.6%+34.5%+37.6%+33.1%+37.5%+43.4%+39.0%

35.9%

660

2,063

1,129

1,960

2,110

4,795

3,696

3,422

3,617

4.1%

11.7%

6.5%

10.5%

9.8%

19.8%

14.9%

13.2%

12.3%

1,538

3,002

2,047

2,894

3,089

5,806

4,808

4,519

4,779

9.5%

17.1%

11.8%

15.5%

14.3%

24.0%

19.3%

17.4%

16.3%

-

+18.7%+14.2%+13.0%+23.8%

+3.9%

+0.3%

+10.7%+8.4%

Operating profit/loss

OP margin
EBITDAEBITDA margin

No. of newly registeredjob seekers YoY

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52

JGAAP

Professional Outsourcing SBU(million yen)
FY2020

FY2021

FY2022

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Net sales

30,71828,222

29,52630,83032,53031,17732,91233,99436,000

YoY

+6.5%

+6.8%

+8.2%

+7.5%

+5.9%

+10.5%+11.5%

10.3%

10.7%

1,556

1,214

1,590

2,320

1,809

1,461

2,212

2,188

1,655

5.1%

4.3%

5.4%

7.5%

5.6%

4.7%

6.7%

6.4%

4.6%

1,958

1,589

1,968

2,701

2,193

1,897

2,648

2,627

2,146

EBITDA margin

6.4%

5.6%

6.7%

8.8%

6.7%

6.1%

8.0%

7.7%

6.0%

No. of engineers(thousand people)

-

13.5

13.6

13.7

13.9

14.5

14.7

15.0

15.0

Operating profit

OP margin
EBITDA

Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved.

53

JGAAP

Solution SBU(million yen)
FY2020Net sales
YoY
Operating profit/loss

OP margin
EBITDAEBITDA margin

FY2021

FY2022

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

1,918

2,181

2,773

2,966

3,248

3,502

3,764

3,799

4,368

-2.5% +129.0% +124.1%+86.1%+69.3%+60.5%+35.7%+28.1%

34.5%-1,016

-883

-681

-708

-785

-860

-1,216-725-1,035-53.0%-40.5%-24.6%-23.9%-24.2%-24.6%-32.3%-19.1%-23.7%

-663

-527

-314

-304

-366

-433

-777

-233

-521

-34.6%-24.2%-11.3%-10.3%-11.3%-12.4%-20.7%-6.2%-11.9%

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54

JGAAP

Asia Pacific SBU(million yen)
FY2020

FY2021

FY2022

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Net sales

64,65767,30674,19871,18377,451

77,521

93,622

97,61599,020

YoY

-8.2%

2.0%

26.4%

14.6%

19.8%

15.2%

26.2%

37.1%

27.8%

-828

-164

459

9

737

40

251

519

1,705

-1.3%

-0.2%

0.6%

0.0%

1.0%

0.1%

0.3%

0.5%

1.7%

832

1,492

2,139

1,719

2,340

1,734

2,166

2,567

3,681

EBITDA margin

1.3%

2.2%

2.9%

2.4%

3.0%

2.2%

2.3%

2.6%

3.7%

AU GDP growth*

-1.1%

1.1%

9.6%

3.9%

4.2%

3.3％

3.6％

5.9%

2.7%

USD/JPY

106.8

106.1

107.8

108.6

109.9

116.3

123.1

128.3

131.6

AUD/JPY

73.7

81.9

83.1

82.4

82.5

84.2

88.5

90.6

91.1

Operating profit/loss

OP margin
EBITDA* Preliminary results

Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved.

55

JGAAP

Others(million yen)
FY2020

FY2021

FY2022

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Net sales

3,015

3,314

3,028

3,980

3,431

3,897

3,987

5,075

3,943

YoY

+7.5%

+40.2%+14.0%+16.1%+13.8%

17.6%

31.7%

27.5%

14.9%

-558

-55

-497

229

-477

-41

-189

460

-936

-18.5%-1.7%-16.4%

5.8%-13.9%

-1.1%

-4.8%

9.1%

-23.8%

-462

54

-381

344

-361

101

-34

687

-756

-15.3%

1.7%-12.6%

8.7%-10.5%

2.6%

-0.9%

13.5%

-19.2%

Operating profit/loss

OP margin
EBITDAEBITDA margin

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56

JGAAP

Adjusted(million yen)
FY2020Net sales
YoY
Operating profit/loss

OP margin
EBITDAEBITDA margin

FY2021

FY2022

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

-5,555-6,041-5,958-7,047-7,254-7,629-7,933-9,170-8,452

ｰ

ｰ

ｰ

ｰ

ｰ

ｰ

ｰ

ｰ

ｰ

-423

371

41

-55

-2,955

-570

-737

-956

-1,875

ｰ

ｰ

ｰ

ｰ

ｰ

ｰ

ｰ

ｰ

ｰ

-96

657

266

164

-2,613

-18

-208

-461

-1,313

ｰ

ｰ

ｰ

ｰ

ｰ

ｰ

ｰ

ｰ

ｰ

Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved.

57

Disclaimer

The statements concerning PERSOL HOLDINGS’s future business performances inthis material such as earnings forecasts are based on information available as of
May 15, 2023 and certain assumptions deemed to be reasonable by PERSOLHOLDINGS, and do not mean that PERSOL HOLDINGS promises to achieve thesefigures. Actual results may differ materially from the statements due to a variety
of factors.
The figures and indicators included in this material have been released to facilitate
an appropriate understanding for business results and financial status of PERSOLGroup. Kindly note that not all the figures and indicators, including actual figureson an IFRS basis, have been subjected to audit and review by external auditors.

Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved.

58