RecruitHoldings

FY2022 Q3 Consolidated Results

02. 13. 2023

Opportunitiesfor Life.

Faster, simpler andcloser to you.

01

Business Strategies

01

02

Simplify
HiringHelp Businesses
Work Smarter

Make it easier and faster forpeople to get jobs

Improve performance andproductivity for SMEs in Japan

Sustainable growthshared by all stakeholders

人材マッチング市場における採用プロセスの効率化

エコシステムによる日本国内企業クライアントの業績及び生産性向上

ステークホルダーとの共栄を通じた持続的な成長

03

Prosper
Together02

FY2022 Q3 Results Executive Summary and FY2022 Guidance
Revenue 880.1bn yen, +18.0% YoY (+6.5% excluding exchange rate impact)- Revenue on yen basis in all segments, HR Technology, Matching & Solutions and Staﬃng increased
Adjusted EBITDA 138.2bn yen, -2.6% YoY
Adjusted EBITDA margin 15.7%- Adjusted EBITDA margin in each segment decreased
Adjusted EPS 50.27 yen, -5.7% YoY
The Company revises FY2022 Financial Guidance

売上収益 8,801億円、+18.0% YoY (為替影響除きでは+6.5%)- HRテクノロジー事業、マッチング&ソリューション事業及び人材派遣事業の全てが日本円ベースで増収調整後EBITDA 1,382億円 、-2.6% YoY
調整後EBITDAマージン 15.7%- 各事業の調整後EBITDAマージンが低下
調整後EPS 50.27円 、-5.7% YoY
FY2022通期業績予想を修正
Recruit Holdings | Earnings Call03

Consolidated Financial Results for FY2022 Q3
Adjusted EBITDA1 andAdjusted EBITDA margin

Revenue(in billions of yen)

Adjusted EPS1
(in billions of yen)(in yen)+18.0%
YoY
18.1%
19.0%

16.5%
15.7%

12.0%

FY2021

FY2022

FY2021

FY2022

FY2021

FY2022

1: From FY2022, the Company changed the adjustment items for adjusted EBITDA and adjusted EPS. The new definition of adjusted EBITDA and adjusted EPS has been applied retroactively toFY2021. For more detail of the change of adjustment items, please refer to “Definition of the Financial Measures” of Q3 earnings release of FY 2022.
FY2022より、調整後EBITDA及び調整後EPSの調整項目をそれぞれ変更しています。FY2021にも新計算式を適用しています。
新計算式については、2023年3月期第3四半期決算短信冒頭の各種指標の算式をご参照ください。

Recruit Holdings | Earnings Call04

FY2022 Q3 Segment Results and FY2022 Outlook
HR TechnologyRevenue(in millions of USD)

Adjusted EBITDA1 andAdjusted EBITDA margin(in billions of yen)

1,984

1,986

2,034

2,187 2,173
-0.1%

YoYUS

34.8%

32.8%

-The Company expects the labor market
imbalance will continue to ease in Q4-

The Company controls operating expenses
in Q4 while carefully monitoring thebusiness environment

28.1%

Non US

Outlook
FY2022

Outlook for FY2022: Changed
Revenue in USD: approx. +8%
Adjusted EBITDA margin: approx. 29%

33.7%
30.4%

FY2021--

FY2022通期業績見通し：変更有
売上収益（米ドル）: +8%程度
調整後EBITDAマージン: 29%程度-

当第4四半期には引き続き労働市場における需給の逼迫が緩和する見込み-

当第4四半期には事業環境を見ながら慎重にコストコントロールを実施

Outlook
FY2021

FY2022

1: From FY2022, the Company changed the adjustment items for adjusted EBITDA. The new definition of adjusted EBITDA and adjusted EPS has been applied retroactively to FY2021, and year overyear % change of adjusted EBITDA is calculated under the new definition.
FY2022より、調整後EBITDAの調整項目を変更しています。 FY2021にも新計算式を適用しており、調整後EBITDAの対前期増減率は、新計算式を適用した数値を基に算出しています。

Recruit Holdings | Earnings Call05

FY2022 Q3 Segment Results and FY2022 Outlook
Matching & Solutions

Revenue(in billions of yen)

180.3

180.4

191.9
+13.9%
185.2 YoY

Adjusted EBITDA1 andAdjusted EBITDA margin (in billions of yen)

Marketing Solutions- Outlook for FY2022: Changed
Revenue: approx. +13%
HR Solutions- Outlook for FY2022: Changed
Revenue: approx. +18.5%

168.5

Matching & Solutions Total- Outlook for FY2022: Changed
Adjusted EBITDA margin: approx. 14%

21.6%

MarketingSolutions

16.5%

17.4%
15.1%

販促領域
- FY2022通期業績見通し：変更有
売上収益: +13%程度
人材領域- FY2022通期業績見通し：変更有
売上収益: +18.5%程度

HRSolutions

2.3

Others &Elimination

マッチング&ソリューション事業全体- FY2022通期業績見通し：変更有
調整後EBITDAマージン: 14%程度

1.3%

Outlook
FY2021

FY2022

Outlook
FY2021

FY2022

1: From FY2022, the Company changed the adjustment items for adjusted EBITDA. The new definition of adjusted EBITDA and adjusted EPS has been applied retroactively to FY2021, and year overyear % change of adjusted EBITDA is calculated under the new definition.
FY2022より、調整後EBITDAの調整項目を変更しています。 FY2021にも新計算式を適用しており、調整後EBITDAの対前期増減率は、新計算式を適用した数値を基に算出しています。

Recruit Holdings | Earnings Call06

FY2022 Q3 Segment Results and FY2022 Outlook
Staffing

Revenue(in billions of yen)

385.7
357.7

400.2

415.6
+16.2%
YoY

Adjusted EBITDA1 andAdjusted EBITDA margin (in billions of yen)
28.6
8.0%

27.2
7.1%

Europe, US, and Australia- Outlook for FY2022: Changed
Revenue: approx. +17.5%

29.8
7.2%

Staﬃng Total- Outlook for FY2022: Unchanged
Adjusted EBITDA margin: approx. 6%

9.1%
9.5%
10.1%

349.9

27.9
7.0%

Japan

9.0%

8.7%

14.3
4.1%

Japan

6.8%
EuropeUSAustralia

日本- FY2022通期業績見通し：変更有
売上収益: +13%程度
5.8%

5.5%

欧州、米国及び豪州- FY2022通期業績見通し：変更有
売上収益: +17.5%程度

5.5%
4.8%

EuropeUSAustralia

人材派遣事業全体- FY2022通期業績見通し：変更無調整後EBITDAマージン: 6%程度

2.9%

FY2021

FY2022

Outlook

FY2021

Japan- Outlook for FY2022: Changed
Revenue: approx. +13%

FY2022

Outlook

1: From FY2022, the Company changed the adjustment items for adjusted EBITDA. The new definition of adjusted EBITDA and adjusted EPS has been applied retroactively to FY2021, and year over year
% change of adjusted EBITDA is calculated under the new definition.
FY2022より、調整後EBITDAの調整項目を変更しています。 FY2021にも新計算式を適用しており、調整後EBITDAの対前期増減率は、新計算式を適用した数値を基に算出しています。
2: Excluding the impact of the exchange rate fluctuations
為替影響を除く。

Recruit Holdings | Earnings Call07

Revised FY2022 Consolidated Guidance as of 02/13/2023
Adjusted EBITDA and
Adjusted EBITDA margin

Adjusted EPS1

1Revenue(in trillions of yen)

3.425

3.50

(in billions of yen)

600

525.0
15.3%

3.30

3.00

500

511.8
17.8%

2.87
2.50
2.39
2.00

520.0
15.8%

(in yen)200

180.00188.94170.65

150

400
2.26
300

1.50

326.7
13.6%

100

111.19

246.9
10.9%

200
1.00

74.19
50

100

0.50

FY2019FY2020 FY2021 FY2022

FY2022

InitialGuidance
Guidance
as of02/13/2023

FY2019FY2020 FY2021 FY2022

FY2022FY2019InitialGuidance
Guidance
as of02/13/2023

1: From FY2022, the Company changed the adjustment items for adjusted EBITDA and adjusted EPS respectively. The new definition of adjusted EBITDA and adjusted EPS has been applied
retroactively to FY2019 through FY2021.
FY2022より、調整後EBITDA及び調整後EPSの調整項目をそれぞれ変更しています。FY2019以降過年度に新計算式を適用しています。

FY2020 FY2021 FY2022

FY2022

InitialGuidance
Guidance
as of02/13/2023

Recruit Holdings | Earnings Call08

Appendix: Consolidated Financial Results for FY2022 Q3Three Months
Nine Months
Ended December
31,EBITDA & Adjusted EBITDA
EndedMargin
December 31,
Adjusted(In billions of yen, unless otherwise stated)

2021

2022

YoY

2021

2022

YoY

Revenue 売上収益

746.0

880.1

18.0%

2,111.9

2,601.7

23.2%

Adjusted EBITDA1 調整後EBITDA1

142.0

138.2

-2.6%

420.5

435.9

3.7%

Adjusted EBITDA margin

19.0%

15.7%

19.9%

16.8%

Operating income 営業利益

110.6

96.8

-12.4%

333.5

324.8

-2.6%

Proﬁt before tax 税引前四半期利益

112.6

105.6-6.2%

336.5

336.0

-0.1%

Proﬁt for the period 四半期利益

83.578.4-6.1%

249.0

249.3

0.1%

Proﬁt attributable to owners of theparent 親会社の所有者に帰属する四半期利益

83.2

77.8-6.4%

248.4

247.6

-0.3%

Adjusted EPS (yen)1 調整後EPS (円)1

53.33

50.27

-5.7%

157.72160.051.5%-111.14130.6082.68

136.49140.6093.34-

調整後EBITDAマージン

Average exchange rate during theperiod (yen) 期中平均為替レート (円)

USD
EUR
AUD

----

1: From FY2022, the Company changed the adjustment items for adjusted EBITDA and adjusted EPS. The new definition of adjusted EBITDA and adjusted EPS has been applied retroactively to
FY2021, and year over year % change of adjusted EBITDA and adjusted EPS is calculated under the new definition.
FY2022より、調整後EBITDA及び調整後EPSの調整項目をそれぞれ変更しています。FY2021にも新計算式を適用しており、調整後EBITDA及び調整後EPSの対前期増減率は、新計算式を適用した数値を基に算出しています。

Recruit Holdings | Earnings Call09

Appendix: Consolidated Financial Results for FY2022 Q3Three Months
Nine Months
Ended December
31, & Adjusted EBITDA
EndedDecember 31,
Adjusted EBITDA
Margin(in billions of yen)

2021

2022

YoY

20212022

YoYHR Technology

225.8

280.5

24.2%624.7

864.8

38.4%

Revenue

Matching & Solutions

168.5

191.9

13.9%

478.2

557.6

16.6%

売上収益

Staﬃng

357.7

415.6

16.2%

1,028.5

1,201.6

16.8%

Consolidated1

746.0

880.1

18.0%

2,111.9

2,601.7

23.2%

HR Technology

78.5

78.8

0.3%

245.7

265.6

8.1%

Adjusted EBITDA2

Matching & Solutions

36.4

31.6

-13.3%

100.4

90.8

-9.5%

調整後EBITDA2

Staﬃng

28.6

29.8

4.2%

78.9

85.0

7.7%

Consolidated1

142.0

138.2

-2.6%

420.5

435.9

3.7%

HR Technology

34.8%

28.1%

-39.3%

30.7%-Matching & Solutions

21.6%

16.5%

-

21.0%

16.3%

-Staﬃng

8.0%

7.2%

-

7.7%

7.1%

-Consolidated

19.0%

15.7%

-19.9%

16.8%-Adjusted EBITDA
Margin調整後EBITDAマージン

1: The sum of the three segments does not correspond with consolidated revenue and adjusted EBITDA due to adjustments, such as intra-group transactions.
「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。
2: From FY2022, the Company changed the adjustment items for adjusted EBITDA. The new definition of adjusted EBITDA and adjusted EPS has been applied retroactively to FY2021, and year overyear % change of adjusted EBITDA is calculated under the new definition.
FY2022より、調整後EBITDAの調整項目を変更しています。 FY2021にも新計算式を適用しており、調整後EBITDAの対前期増減率は、新計算式を適用した数値を基に算出しています。

Recruit Holdings | Earnings Call10

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 the relevant forward-looking statements will be achieved. Please note that signiﬁcant diﬀerences between suchforward-looking statements and actual results may arise due to various factors, including changes in economic conditions, changes in individual users’
preferences and business clients’ needs, competition, changes in the legal and regulatory environment, ﬂuctuations in foreignexchange rates, climate change or other changes in the natural environment, the impact of the spread of COVID-19, the occurrence of large-scale
natural disasters, and other factors. Accordingly, readers are cautioned against placing undue reliance 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 byapplicable 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.
These statements are based on statistics and other information from third-party sources as cited herein, and the Company has not independentlyveriﬁed and cannot assure the accuracy or completeness of any information derived from or based on third-party sources.

Notes Of This Document
This material has been prepared for the sole purpose of providing general reference information. Neither this material nor any of its contents may bedisclosed or used by any third party for any other purpose without the prior written consent of the Company. The Company makes no representation asto the accuracy or completeness of the information contained in this material and shall not be liable for any loss or damage arising from the use of thismaterial.

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