Consolidated Financial Results
for the 3rd Quarter of the
Fiscal Year Ending March 31,
2023 (FY2022 Q3)PERSOL HOLDINGS CO., LTD.
February 10, 2023
Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved.

Highlights
1

2

3

Summary of Financial Results for the Nine Months Ended Dec. 2022◼

Significant growth with net sales of 902.0 billion yen (up 15.6% year on year) and operating
profit of 45.4 billion yen (up 11.3% YoY)◼

In particular, Career SBU continued to drive the increase in profit.

Business Environment and Topics of PERSOL◼

While concern remains over a global economic recession, the sense that there is a labor
shortage has continued to grow in Japan.

◼

This trend is positive for PERSOL's business environment, and we will cater to human resource
needs by enhancing a range of services.

Others◼

A formal decision made to introduce the International Financial Reporting Standards (IFRS)(To be applied starting in the 1st quarter ending June 30, 2023)◼

The next mid-term management plan is planned to be explained at the time of theannouncement of the full-year financial results in May 2023.

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

2

Summary of Financial Results
for the Nine Months
Ended December 31, 2022

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

Consolidated Financial Results (Q1-Q3)
Significant growth in both net sales and operating profit(million yen)

YoY

(Reference)
FY22
Full-Year
Forecasts

Progress

902,067+15.6%

1,210,000

74.6%

40,81145,434+11.3%

53,000

85.7%

5.2％

5.0%

-0.2pt4.4%-

54,876

62,663+14.2%

75,200

83.3%

7.0％

6.9%

-0.1pt6.2%-

Quarterly net profit before income taxes

41,78045,921

+9.9%

-

-

Quarterly net profit*

23,901

27,162+13.6%

30,50089.1%

Adjusted quarterly net profit

29,95033,417+11.6%

39,10085.5%

Adjusted EPS (yen)130.05145.20+11.6%

169.95

85.4%

FY21
Q1-Q3

FY22
Q1-Q3

780,190

Operating profit
OP margin (％)

Net sales

EBITDAEBITDA margin (％)

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.)* Quarterly net profit attributable to owners of parent company

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

4

Net Sales by SBU (Q1-Q3)(billion yen)Staffing

Career

+8.2%+39.9%

426.0

460.8

53.6

FY21

FY22

FY21

+10.7%
75.0

FY22

88.5

FY21

98.0

FY22

Asia Pacific

Solution+39.7%
7.9

Professional Outsourcing+26.4%
11.0

212.6

268.7

Net sales increased
in all SBUs

FY21

FY22

FY21

FY22

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5

Operating Profit by SBU (Q1-Q3)(billion yen)Staffing

Career-2.4%+131.2%

32.4

31.6

Professional Outsourcing+14.4%
11.9
5.1

5.1
FY21

FY22

FY22

Investment phase

FY22＋166.1 %

0.8

FY22

-2.8

FY21

高い利益成長をみせる
Drivenby Career SBU

Careerが牽引

with high profit growth

0.3
-2.2

FY21

Asia Pacific

Solution

FY21

FY21

5.8

FY22
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6

Analysis of Increase/Decrease in Operating Profit(Q1-Q3)Operating profit increased because gross profit increased
more than SG&A expenses YoY(billion yen)

Increased mainly in
Career SBU+

32.5

Increase ingross profit

Increase inpersonnel
expenses-14.9

Increase inadvertisingexpenses-3.8

Increased mainly in
Career SBU, which is taking
measures to increase personnel

Increase inother expenses-9.1

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7

(Reference) Net Sales by SBU (Q1-Q3)(million yen)

YoY

(Reference)
FY22
Full-Year
Forecasts

Progress

902,067+15.6%

1,210,000

74.6%

426,082

460,862+8.2%

615,000

74.9%

Career53,64475,066+39.9%

103,000

72.9%

Professional Outsourcing

88,57998,085+10.7%

133,500

73.5%

Solution

7,921

11,066+39.7%

15,50071.4%

Asia Pacific

212,687

268,759+26.4%

360,000

74.7%

Others10,323

12,960+25.5%

16,00081.0%

Adjusted-19,047-24,733--33,000

-

FY21
Q1-Q3

FY22
Q1-Q3

Consolidated

780,190

Staffing

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8

(Reference) Operating Profit and OP Margin by SBU(Q1-Q3)(million yen)

FY21
Q1-Q3

FY22
Q1-Q3

YoY

(Reference)
FY22
Full-Year
Forecasts

Progress

40,81145,434+11.3%

53,000

85.7%

5.2%

5.0%

-0.2pt4.4%-

32,467

31,684-2.4%

36,600

86.6%

7.6%

6.9%

-0.7pt

6.0%

-

5,153

11,915+131.2%

15,200

78.4%

9.6%

15.9%

+6.3pt

14.8%

-

5,125

5,862

+14.4%

8,000

73.3%

5.8%

6.0%

+0.2pt6.0%--2,273-2,802--3,950--28.7%-25.3%+3.4pt-25.5%

-

304

811

+166.1%

1,850

43.8%

0.1%

0.3%

+0.2pt0.5%-

Others

-324

228

-

-600

-

Adjusted

357-2,264--4,100-Consolidated

Staffing
CareerProfessional Outsourcing
Solution

Asia Pacific

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9

(Reference) EBITDA and EBITDA Margin by SBU(Q1-Q3)(million yen)

FY21
Q1-Q3

Consolidated

Staffing
CareerProfessional Outsourcing
Solution

Asia Pacific
OthersAdjusted

FY22
Q1-Q3

YoY

(Reference)
FY22
Full-Year
Forecasts

Progress

54,876

62,663+14.2%

75,200

83.3%

7.0%

6.9%

-0.1pt6.2%-

35,36235,266-0.3%

41,100

85.8%

8.3%

7.7%

-0.6pt

6.7%

-

7,944

15,134+90.5%

19,600

77.2%

14.8%

20.2%

+5.4pt

19.0%

-

6,259

7,174

+14.6%

9,800

73.2%

7.1%

7.3%

+0.2pt7.3%--1,146-1,444--2,100--14.5%-13.1%+1.4pt-13.5%

-

5,350

6,467

+20.9%

9,400

68.8%

2.5%

2.4%

-0.1pt

2.6%

-

17

754

-

-0

-

1,088

-688

-

-2,600-

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10

Financial Results by SBU for
the Nine Months
Ended December 31, 2022

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

Financial Results of Staffing SBU (Q1-Q3)(million yen)

Net sales

Operating profit+8.2%
426,082

FY2021

Composition of sales
FY2022 (Q1-Q3)-2.4%

460,862

FY2022

32,467

31,684（7.6%）(6.9%)FY2021

16%
Staffing
BPO
84%

FY2022* Percentage figures in parentheses indicate OP Margin.

Comments on the quarter (October to December 2022)
Both the No. of orders and No. of confirmed contracts
remained steady.
◼ No. of orders: Increased approx. 10% YoY◼ No. of confirmed contracts: Increased approx.10% YoY◼ No. of contract terminations: The ratio of the no. of staff with terminatedcontracts to the no. of active staff remained almost equivalent to the preCOVID-19 level.

Staffing

BPO

Orders for the number of temporary public related projects wereequivalent to the year-ago level. Orders for ordinary projects
were strong.

Analysis of increase/decrease in sales
1) Staffing: Up 6.9%
Number of active staff: +8.8%
Billing rates: +1.1%
Operating hours, etc.: -1.4%
No. of operating days: -1.6%(Down 1 business day YoY)
2) BPO: Up 11.7%
The rate of increase in sales excluding temporary public
related projects was approx. 17%.
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12

Financial Results of Career SBU (Q1-Q3)(million yen)

Net sales

Operating profit+39.9%

Composition of sales
FY2022 (Q1-Q3)+131.2%8%

Placement business

11,91575,06622%

53,6445,153(15.9%)

70%

Job recruitment
media
Others

（9.6%）FY2021

FY2022

FY2021

FY2022* Percentage figures in parentheses indicate OP Margin.

Comments on the quarter (October to December 2022)
Placement business

Job recruitment media◼ Sales increased by more than 50% YoY.
◼ Sales increased by approx. 40% YoY.
◼ Recruitment of Career Advisor (CA) was also steady.
Conditions of the career-change market◼ The labor supply-demand balance remained tight in both the manufacturing and nonmanufacturing industries.
◼ Restaurants and service industry were recovering due to expectations for the effects ofeasing restrictions on foreign tourists to Japan and the National Travel Discount program.
◼ Significant signs of macro impacts, such as the impacts of the international situation andrising commodity prices, have yet to emerge.
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13

Financial Results of Professional Outsourcing SBU (Q1-Q3)(million yen)

Net sales

Operating profit+10.7%
88,579Composition of sales
FY2022 (Q1-Q3)+14.4%

IT

98,0855,125（5.8%）

5,862

33%(6.0%)

41%

26%

FY2021

FY2021

FY2022Engineering
IT/engineering
temporary staffing

FY2022* Percentage figures in parentheses indicate OP Margin.

Comments on the quarter (October to December 2022)
IT◼ Sales increased by 12%, with demand remaining at a high level.
◼ Operating rate: Approx. 95%◼ No. of engineers: Approx. 5,200 (Up 12.7% YoY)
IT/engineering temporary staffing◼ Sales increased by 7% with strong results in both the IT area andengineering area.
◼ No. of active engineers*: Approx. 6,200 (Up 5.8% YoY)
* The number of active engineers include registered engineers.

Engineering◼ Sales increased by 10% due to strong demand.
◼ Operating rate: Approx. 96%◼ No. of engineers: Approx. 3,500 (Up 9.0% YoY)
Hiring of engineers (overall SBU)
◼ Competition to acquire engineers has become fierce, and the result wasslightly below the plan as of December 31.
(Achievement rate: approx. 95% / Approx. 134% compared to the year-ago
level)
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14

Financial Results of Solution SBU (Q1-Q3)(million yen)

Net sales

Operating profit

ｰ%+39.7%◼ "MIIDAS" job search application
Japan's first* job search application featuring a uniquePossibility Diagnosis, with which users receive job offersfrom companies where they are highly likely to demonstrate
their capabilities

11,066
7,921* 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)（-28.7%）-2,273
FY2021

Outline of major services

FY2022

FY2021(-25.3%)-2,802
FY2022◼ "POS+" cloud POS
Cloud POS cash register is offered mainly to restaurants
and retailers to help them improve operating efficiency
and increase sales.

* Percentage figures in parentheses indicate OP Margin.

Comments on the quarter (October to December 2022)"MIIDAS"◼ Sales increased YoY.
◼ The cumulative number of account companies, mainly SMEs, increased
approx. 1.3 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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15

Financial Results of Asia Pacific SBU (Q1-Q3)* Actual values in the nine months (January to September 2022) in the region

Net sales

Operating profit+26.4%(million yen)

FY2022 (Q1-Q3)+166.1%
811

Singapore: 44%
Malaysia: 15%
India: 11%
China: 3%（0.1%）(0.3%)

Staffing: 47%
Maintenance: 51%
Other: 2%

FY2021

FY2022

268,759
212,687304

FY2021

FY2022Composition of sales

25%

75%

Programmed

PERSOLKELLY* Percentage figures in parentheses indicate OP Margin.

Comments on the quarter (July to September 2022)

Comments on the quarter (October to December 2022)

PERSOLKELLY◼ Sales increased by 22.2% due to the steady performance of the temporary staffing
business and high growth achieved by the placement business as well as foreignexchange effects.
◼ Operating profit increased due to high growth in emerging countries, which more thanoffset the impact from the zero-COVID policy in China.

* The results will be included in the consolidated financial resultsfor Q4.

Programmed◼ Sales increased by 42.6% due to the steady performance of the Staffing business andhigh growth achieved by the Maintenance business as well as the strong Australian dollar.
◼ Operating profit turned around due to the effect of the sales increase.

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

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16

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

FY21
Q3

FY22
Q3

YoY

FY21
Q1-Q3

FY22
Q1-Q3

YoY

71,183

97,615+37.1%

212,687

268,759+26.4%PERSOLKELLY

19,14523,389+22.2%

54,582

66,906+22.6%

Programmed

52,03774,225+42.6%

158,104

201,852+27.7%

9519+5232.7%

304

811+166.1%PERSOLKELLY

395

580

+47.0%

829

1,153+39.0%

Programmed

-265

239

-

-183

456

-

1,719

2,567

+49.3%

5,350

6,467

+20.9%PERSOLKELLY

558

756

+35.6%

1,333

1,663

+24.7%

Programmed

1,278

2,105

+64.6%

4,352

5,588

+28.4%Net sales

Operating profit/loss

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)] nine months of FY21: 108.6 yen, nine months of FY22: 128.3 yen/ [AUD (Programmed)] nine months FY21: 82.4 yen, nine months of FY22: 90.6 yen
3: The above results for Q3 and nine months of FY22 are actual values in the Q3 (July to September 2022) and nine months (January to September 2022) in the region, and results for Q3 and nine months
of FY21 are actual values in Q3 (July to September 2021) and nine months (January to September 2021) in the region.
All of the values were calculated based on Japanese GAAP.

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17

Financial Results of Others and Adjustment (Q1-Q3)(million yen)

Others
Net sales

10,323Adjustment

Operating profit/loss

12,960Net sales

Operating profit/loss

357

228

-2,264-324-19,047-24,733

FY2021

FY2022

FY2021

FY2021

FY2022

Comments on the quarter (October to December 2022)◼ Net sales increased YoY due to an increase in internaltransactions within the Group in the disabled persons hiring
business of special subsidiaries.
◼ Operating result turned around due to the effect of the above
sales increase.

FY2022

FY2021

FY2022

Comments on the quarter (October to December 2022)◼ A loss was posted, mainly reflecting an increase in the cost ofoutsourcing, including outsourcing of corporate measures,and in depreciation associated with changes in the accounting
process.

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

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18

PERSOL's Business
Environment

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Changes in D.I. for Judgment of Labor Surplus/
Shortage in Japan
While there is a concern over a global economic recession, a growing percentage of businesses answer that they
are running short of both regular employees, etc. and temporary workers.
(%)
50

Regular employees, etc.

Temporary workers

44

40

30

Recession period

20← Shortage

based on the reference dates for thebusiness cycle from the Cabinet Office

9

10

Nov.

Aug.

May

Feb. 2022

Nov.

Aug.

May

Feb. 2021

Nov.

Aug.

May

Feb. 2020

Nov.

Aug.

May

Surplus →-10

Feb. 20190(Research by the Ministry of Health, Labour and Welfare)
D.I. for judgment of labor surplus/shortage: The percentage of businesses which answered "shortage" less the percentage of those which answered "surplus"
Regular employees, etc.: Persons who are employed without a fixed employment period or under an employment contract with a fixed employment period of one year or longer
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20

Staffing SBU: Changes in the No. of Orders andthe No. of Temporary Active Staff
The No. of orders (corporate demand) has been recovering steadily since April 2020, when it declined significantly
due to COVID-19.
The No. of temporary active staff was not affected significantly by the COVID-19 pandemic. It has continued to risesteadily.
120

140,000

No. of orders (index)

No. of temporary active staff

80,00060
60,00040

40,00020

20,000(Research by PERSOL Holdings) Each value for the No. of orders was indexed by assuming that thevalue for January 2020 is 100.

Oct.

Jul.

Apr.

Jan. 2022

Oct.

Jul.

Apr.

Jan. 2021

Oct.

Jul.

0

Apr.

0

Jan. 2020

No. of orders (index)

100,000

80

No. of temporary active staff

120,000

100

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21

Career SBU:
Changes in Job-Openings-to-Applicants Ratio of “doda”
The number of jobs available has increased for 28 consecutive months since September 2020.
It has been hitting a record high since April 2019.
Job-openings-to-applicants ratioin Dec. 2022
350,000

3.00

2.54

2.50

300,000

Number of candidates who want to change job
Job-openings-to-applicants ratio

250,000

2.00
200,000
1.50

150,000
1.00

100,000
0.50

50,000Source: “doda”, Tenshoku kyujin bairitsu report (report on job-openings-to-applicants ratio) (December 2022)
Calculated based on the number of jobs available for each registrant (job seeker) in the “doda”

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

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22

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

Clerical worker/assistant

OthersApr.

Oct.

CreatorJul.

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) (December 2022)
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23

Business Topics

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Staffing SBU DX with Commitment
to Improve Convenience of Temporary Staff

Building a pleasant work
environment by using DX to
Remove anxiety about working

Working x

Money

Staff

Collaboration example:
Asset managementwith Minna Bank

Corporate clients

System forcorporate clients

App for staff

Collaborating with
Corporate clients in providing
services that offer conveniencein the lives of temporary staff

Work xChildcare

DX of temporary
staffing operations

Working x

Learning

PERSOL employees

Working x

HealthWorking x

Medicalcare
Collaboration example:
House call andonline medical treatment with FastDoctor

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25

Career SBU
PERSOL has released doda X as a comprehensive high-class careerchange service (October 2022)

１

Expanding the doda brand market coverage⚫ Enable career change support to be provided for all layers ofbusinesspersons.

⚫ Visibility of the doda brand will be improved due to synergy.

２

A comprehensive career change service
in the high-end area

⚫ Provide multilateral career ownership* support for high-class humanresources seeking jobs.

• A job offer delivery service that enables to find rare high-class job offers• Job seekers apply for jobs on their own by selecting ones from among
high-class job offers.
• Career change counseling, and Career coaching.
* Career ownership: Individuals' awareness and actions of working on their career voluntarily (= ownership)
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26

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*(Number of persons
employed*)

Career SBU’s Main Services
Placement
business

Annualincomelevel

Job recruitment
media

Directrecruiting

Other

240,000(3,090,000)

10 million yen
800,000(7,940,000)

6 million yen

Majority group
4 million yen

4,300,000(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

27

PRO* SBU Creating a New Organizational
Structure, Aiming to Create Added Value Further
Reorganization

Merger of subsidiaries for increasing synergy
Establishment of PERSOL CROSS TECHNOLOGY◼ Cater to needs for utilization of and application in society of technologies
straddling multiple technology domains.
◼ In addition, build a management structure which cater to individual needsfor diverse workstyles.
* Details are available here (Only available in Japanese)

Capital alliance

Strategy x DX consulting firm
Capital and business tie-up with Globe-ing Inc.

◼ Provide comprehensive services in the areas of digital technologies andmanufacturing by combining DX (Globe-ing's strength) with capabilityof supplying human resources (strength of PERSOL PRO SBU).
* PRO：Professional Outsourcing

Planning to start airing a TV commercial featuring
actor Mr. Hidetoshi Nishijima on Wednesday, February
15 in Tokai, Kansai, Kyushu, and other regions

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28

Others

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Total Shareholder Return (Jan. 1, 2020 to Dec. 31, 2022)
We attach importance to shareholder returns, so total shareholder return is one of the important indexes that wetrack.
Total shareholder return at PERSOL in the past three years are approx. 30 percentage points higher than Nikkei
225 and TOPIX.

% change of share price*1

Dividend yield*2
Total shareholder return*3

Nikkei 225

TOPIX

PERSOL112.5 %

111.4 %

137.0 %

-

-

5.0 %

112.5 %

111.4 %

142.1 %

*1. % change of share price = (Closing stock price as of December 30, 2022 / Closing stock price as of January 6, 2020) x 100*2. Dividend yield = (Cumulative amount of dividend per share during the said period / Closing stock price as of January 6, 2020) x 100*3. Total shareholder return = % change of share price + Dividend yield

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30

For the Formulation of
the Next Mid-term Management Plan
◼ Each SBU is making preparations steadily for further business growth under
the next mid-term management plan, in addition to the most recent initiatives
taken at business topics, described above.
◼ The International Financial Reporting Standards (IFRS) will begin to be
applied in the 1st quarter of FY2023 to respond to globalization.
◼ A cash allocation policy is also being considered.

The next mid-term management plan are planned to be announced
together with full-year financial results in May 2023.
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31

Appendix

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Sustainability Initiatives
Establishment of the PERSOL Group Human Rights Policy(Dated Dec. 20, 2022)◼ Main policy structure● Commitment to the respect for human rights and scope of application● Human rights issues at the PERSOL Group● Human rights due diligence● Dialogue with stakeholders and information disclosure
Details are available here (Only available in Japanese)

Co-sponsoring and participating in Ridifes 2022,
one of the largest-scale social issue events in Japan◼ At our booth, we set up a smile measuring instrument, which accumulates points in reaction tosmiles, in relation to our Group Vision "Work, and Smile." We implemented the Smile Donation, in
which we made a donation to help solve social issues based on the number of points accumulated
in reaction to visitors' smiles.
Details are available here (Only available in Japanese)
Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved.

33

PERSOL Becomes a Title Partner of
the Pacific League of Professional Baseball◼ Since FY2018, PERSOL has been serving as an official sponsor of the Pacific League, executing a wide array of
initiatives such as being the title sponsor of official games of the six teams, Pacific League TV, and the Climax Series PA.
◼ In 2023, PERSOL will pursue even more powerful initiatives as a League Title Partner in addition to continuing to taking
its existing initiatives.
Details are available here (Only available in Japanese)
Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved.

34

Consolidated Quarterly Results(million yen)

FY20
Q3
Net sales

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

FY21
Q4

Q1

Q2

FY22
Q3

Q4

Q1

Q2

Q3

238,083 246,883 250,432 262,415 267,342 280,703 284,100 302,649 315,317

-1.7%

-1.0%

+5.1%

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

8,390

3,842

12,973

13,474

14,363

7,332

16,495

14,221

14,718

3.5%

1.6%

5.2%

5.1%

5.4%

2.6%

5.8%

4.7%

4.7%

12,718

8,496

17,63818,121

19,116

12,274

21,97819,992

20,692

5.3%

3.4%

7.0%

6.9%

7.2%

4.4%

7.7%

6.6%

6.6%

5,145

2,816

8,383

7,001

8,517

8,004

10,301

8,487

8,372

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35

Staffing SBU(million yen)

FY20
Q3
Net sales
YoY

FY21
Q4

Q1

Q2

FY22
Q3

Q4

Q1

Q2

Q3

134,086 135,870 137,846 141,507 146,728 149,660 151,432 151,424 158,006
+2.4%

+3.8%

+5.5%

+9.2%

+9.4%

+10.1%

+9.9%

+7.0%

7.7%

8,361

4,452

10,428

11,433

10,606

6,892

11,670

10,204

9,808

6.2%

3.3%

7.6%

8.1%

7.2%

4.6%

7.7%

6.7%

6.2%

9,265

5,387

11,37012,395

11,596

7,991

12,890

11,39010,985

6.9%

4.0%

8.2%

8.8%

7.9%

5.3%

8.5%

7.5%

7.0%

No. of operating days

61

60

61

58

61

59

61

59

60

No. of active staff YoY

-

-

-1.7%

+4.0%

+6.9%

+8.1%

+8.2%

+8.1%

+8.8%

Billing rates YoY

-

-

+0.4%

＋0.5%

＋0.5%

＋0.7%

+0.9%

+1.1%

+1.1%

Operating hours, etc.
YoY

-

-

+5.1%

＋1.4%

-0.3%

+0.1%

-1.1%

-2.8%

-1.4%

Operating profit

OP margin
EBITDAEBITDA margin

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36

Career SBU(million yen)

FY20

FY21

FY22

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Net sales

13,595

16,25817,602

17,33918,702

21,63524,19824,87225,996YoY-24.9%-16.7%+4.6%+34.5%+37.6%+33.1%+37.5%+43.4%+39.0%

-466

660

2,063

1,129

1,960

2,110

4,795

3,696

3,422

-3.4%

4.1%

11.7%

6.5%

10.5%

9.8%

19.8%

14.9%

13.2%

395

1,538

3,002

2,047

2,894

3,089

5,806

4,808

4,519

2.9%

9.5%

17.1%

11.8%

15.5%

14.3%

24.0%

19.3%

17.4%

-

-

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

+3.9%

+0.3%

+10.7%

Operating profit/loss

OP margin
EBITDAEBITDA margin

No. of newly registeredjob seekers YoY

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37

Professional Outsourcing SBU(million yen)

FY20

FY21

FY22

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Net sales

28,68030,71828,222

29,52630,83032,53031,17732,91233,994

YoY

+6.8%

+6.5%

+6.8%

+8.2%

+7.5%

+5.9%

+10.5%+11.5%

10.3%

1,481

1,556

1,214

1,590

2,320

1,809

1,461

2,212

2,188

5.2%

5.1%

4.3%

5.4%

7.5%

5.6%

4.7%

6.7%

6.4%

1,861

1,958

1,589

1,968

2,701

2,193

1,897

2,648

2,627

EBITDA margin

6.5%

6.4%

5.6%

6.7%

8.8%

6.7%

6.1%

8.0%

7.7%

No. of engineers(thousand people)

-

-

13.5

13.6

13.7

13.9

14.5

14.7

15.0

Operating profit

OP margin
EBITDA

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38

Solution SBU(million yen)

FY20

FY21

FY22

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Net sales

1,593

1,918

2,181

2,773

2,966

3,248

3,502

3,764

3,799

YoY

-14.2%-2.5% +129.0% +124.1%+86.1%+69.3%+60.5%+35.7%+28.1%-1,095-1,016

-883

-681

-708

-785

-860

-1,216-725-68.8%-53.0%-40.5%-24.6%-23.9%-24.2%-24.6%-32.3%

-19.1

-781

-663

-527

-314

-304

-366

-433

-777

-233

-49.0%-34.6%-24.2%-11.3%-10.3%-11.3%-12.4%-20.7%-6.2%

Operating profit/loss

OP margin
EBITDAEBITDA margin

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Asia Pacific SBU(million yen)

FY20

FY21

FY22

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Net sales

62,12464,65767,30674,19871,18377,451

77,521

93,622

97,615

YoY

-6.2%

-8.2%

2.0%

26.4%

14.6%

19.8%

15.2%

26.2%

37.1%

-345

-828

-164

459

9

737

40

251

519

-0.6%

-1.3%

-0.2%

0.6%

0.0%

1.0%

0.1%

0.3%

0.5%

1,168

832

1,492

2,139

1,719

2,340

1,734

2,166

2,567

EBITDA margin

1.9%

1.3%

2.2%

2.9%

2.4%

3.0%

2.2%

2.3%

2.6%

AU GDP growth*

-3.8%

-1.1%

1.1%

9.6%

3.9%

4.2%

3.3%

3.6%

5.9%

USD/JPY

107.5

106.8

106.1

107.8

108.6

109.9

116.3

123.1

128.3

AUD/JPY

72.8

73.7

81.9

83.1

82.4

82.5

84.2

88.5

90.6

Operating profit/loss

OP margin
EBITDA* Preliminary results

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40

Others(million yen)

FY20

FY21

FY22

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Net sales

3,428

3,015

3,314

3,028

3,980

3,431

3,897

3,987

5,075

YoY

+14.7%+7.5%+40.2%+14.0%+16.1%+13.8%

17.6%

31.7%

27.5%

263

-558

-55

-497

229

-477

-41

-189

460

7.7%

-18.5%-1.7%-16.4%

5.8%-13.9%

-1.1%

-4.8%

9.1%

350

-462

54

-381

344

-361

101

-34

687

10.2%

-15.3%

1.7%-12.6%

8.7%-10.5%

2.6%

-0.9%

13.5%

Operating profit/loss

OP margin
EBITDAEBITDA margin

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41

Adjusted(million yen)

FY20

Net sales
YoY
Operating profit/loss

OP margin
EBITDAEBITDA margin

FY21

FY22

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

-5,425-5,555-6,041-5,958-7,047-7,254-7,629-7,933-9,170

-

-

-

-

-

-

-

-

-

191

-423

371

41

-55

-2,955

-570

-737

-956

-

-

-

-

-

-

-

-

-

457

-96

657

266

164

-2,613

-18

-208

-461

-

-

-

-

-

-

-

-

-

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42

Balance of Goodwill(million yen)

SBU

As of December 31, 2022

Staffing SBU

7,103

Career SBU

15,572

Professional Outsourcing SBU

Solution SBU

6,756

680

Asia Pacific SBU

32,370PERSOLKELLY

1,606

Programmed Staffing

2,151

Programmed Maintenance

25,148Programmed Others

1,434

Others2,028

Other than the above
Total

1,522
64,006
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43

Adjusted EPS
Shifted to a dividend policy that focuses on dividend payout ratio (around 25% of adjusted EPS) in FY2020.
Adjusted EPS is calculated excluding the effects of goodwill amortization and extraordinary income and 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)

FY21

FY22

Q1-Q3

Q1-Q3

±

Tax reconciliation
related to certain
adjustment items

Details of adjusted items

23,901

27,162Adjusted items

6,497

6,689

Tax reconciliation related to certain adjustment items

-448

-433

◼ Amortization of intangible
assets except goodwill byacquisitions

29,95033,417◼ Amortization of goodwill

230,299,930

230,154,884

130.05145.20Current 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

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44

Business Overview
Staffing SBU◼ Temporary staffing(clerical work, researchclinical development, sales,
light work)◼ Outsourcing(clerical work, government
office contract business, callcenters, helpdesks, CRO,
manufacturing）◼ Temporary job
placement ahead of
permanent
employment/
placement service

Career SBU

Professional
Outsourcing SBU◼ Placement service◼ Outsourcing(mid-career, new grad
recruitment)(IT, business)◼ Career change
media, direct
recruiting◼ Side job, multiple
job, freelancer
support◼ Career self-reliancetraining◼ Outplacement
support◼ Digital solutions,system development◼ Business consulting◼ Engineering(design and experiment)◼ Temporary staffing(IT, engineering)

Solution SBU

Asia Pacific SBU◼ Digital solutions◼ Temporary staffing(employment, humanresources management,
education)◼ Permanent
placement◼ Incubation programs ◼ Facility management& maintenance◼ Outsourcing◼ Human resource
management
consulting◼ Education / training◼ Home care

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45

Disclaimer

The statements concerning PERSOL HOLDINGS’s future business performances inthis material such as earnings forecasts are based on information available as ofFebruary 10, 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 have been subjected toaudit and review by external auditors.

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46