Recruit Group Profile

2023
Inside Out

Recruit Holdings Co., Ltd.

01

Introduction

Message from Our CEO

03

Table of Contents

04

Overview of Our Strategy

05

Simplify Hiring06

Help Businesses Work Smarter07

Prosper Together

08

REC RU I T G RO U P P RO F I L E 202 3 INSIDE O UT

01 Introduction

Message from Our CEO

Opportunities for Life. Faster, Simpler and Closer to You.

Our mission is to create opportunities for life. We do thissearches to the extent of just pushing a button, we believe

by creating products and services that connect individuals

we can contribute to solving this problem and help people

and businesses around the world in a faster, simpler, andget jobs more quickly.

more human way. No matter how uncertain and volatile
the economic and business environments may be, it is our
responsibility to always focus on what we do, and continue
to work on our three core management strategies: Simplify
Hiring, Help Businesses Work Smarter, and Prosper Together.

advancements, countless new jobs — including jobs of
tomorrow that are far beyond our imagination today —will be created. At Recruit Group, we are committed tohelping the world work smarter and live better through our

A few years ago, speculators were warning that advances in

HR matching technology platforms and SaaS solutions.

technology would result in AI (artificial intelligence) taking

Our goal is to enable people to find their jobs and create

jobs away from people. However, looking at the recent

more time for pursuing their passions in a better, moreprogress in AI, I feel that a future where AI enables us tosustainable and equitable future.

achieve what we once thought impossible is approaching
faster and more extensively. There is a significant outcry
in the global labor market about workforce shortages,
including challenges like an aging population in developed
countries and shifting attitudes toward work-life balance,
and technology has struggled to match the swift changes.

Hisayuki “Deko” Idekoba
Representative Director,
President and CEOof the Board

While some jobs will disappear as a result of technological

We will continue to strive to prosper together with all of
our stakeholders by swiftly navigating through social andeconomic changes, while executing our management
strategies and aiming to both increase our long-term
corporate value and contribute to society and planet Earth.

In response, by collaborating with AI to simplify job

Talking Future of Work on BBC World NewsCEO Interview
Deko appeared on the BBC World News Talking Business with Aaron

Inside Out
Deko has always wanted to be a history teacher
and write a textbook. Rather than teachinghistory as written by the victors, though, hewants to focus on the stories of the people
who lost, because that's where the learning is.
R EC RUIT G ROUP P RO F I L E 20 2 3 I N S I D E O UTHeslehurst, engaging in a captivating discussion on the future ofwork and the dynamic landscape of employment.
Deko spoke to BBC World about how Recruit Group utilizes
technology to help all people get jobs, and what the keys are to
supporting underrepresented groups in their hiring process.
03

Table of Contents

01

02

03

04

05

03

Message from Our CEO

10

Recruit Group in Numbers

18

HR Technology SBU

25

50

04

Table of Contents

11

Vision, Mission & Values

20

Matching & Solutions SBU

05

Overview of Our Strategy

12

History of Our Value Creation

22

Staffing SBU

06

Simplify Hiring

13

Group Structure

07

Help Businesses Work

14

Leadership

15

Material Foundations for

Introduction

Smarter08

About Recruit Group

Prosper Together

Corporate Activities
16

Our Business Units

Our Impact

to Sustainability
26

ESG Event Report27

Social42

Governance

43

Environmental

47

Human Rights Policy to

ESG Data Book
Annual Report FY2021
Financial Results andRegulatory Disclosures

51

Editor's Postscript

Address Issues of each SBU

ESG Awards andRecognitions

Our Commitment

Reports Hub

48

Foundation of Our
Impact Creation

49

Creating a Sustainable
Tomorrow for All

R EC RUIT G ROUP P RO F I L E 20 2 3 I N S I D E O UT04

01 Introduction

Overview of Our Strategy

Recruit Group’s three-point business strategy* is the foundation for maximizing
our enterprise value. The strategy supports our quick-response attitude to therapidly changing business landscape and our identification of global opportunities
that enable us to prosper together sustainably with all our stakeholders.

Simplify
HiringHelp Businesses
Work Smarter

Prosper
Together

Help dramatically improve matching toconnect people with jobs faster and easierHelp improve the performance andproductivity of client businesses in Japanthrough SaaS solutions

Seek sustainable growth thatevery stakeholder shares*Further details of our corporate business can be found in the Annual Report FY2022 translated from “Yukashouken Houkokusho,“ Business Overview, Management Philosophy and Strategies (page 21).

R EC RUIT G ROUP P RO F I L E 20 2 3 I N S I D E O UT05

01 Introduction﻿

Simplify Hiring"Simplify Hiring" is a management strategy employed by Recruit Group to

Realize Simplify Hiring through cross-SBU efforts

streamline job search and hiring processes to the point where finding a job
is as simple as "pushing a button." There are still numerous inefficient manual
procedures embedded in the job search and hiring process. Therefore, as a

Staffing

HR Technology

frontrunner in the HR matching industry, we consider it our duty to facilitate job
seekers in finding suitable employment while enabling recruiting professionals to
devote more time to uniquely human tasks. By doing so, we believe we can help
reduce the labor shortage challenges resulting from global factors such as aging
populations. We also aim to provide solutions toward our "simplify hiring" objectiveby leveraging advancing AI and automation technologies to their fullest potential.
Our current focus is on improving the hiring process. In the past year, Indeedreceived over 2.5 billion job applications. However, companies only initiatedcontact with applicants in less than half of these cases. Furthermore, Indeed's data
highlights that the percentage of applicants progressing to interview stages is evenmore limited. We are dedicated to enhancing the efficiency and effectiveness ofthe matching process, benefiting not only job seekers who may have encountered
frustrations but also companies that have faced challenges in responsiveness.
In FY2022, the HR Technology Strategic Business Unit (SBU) platform recorded anaverage of 23 hiring decisions per minute — a remarkable 30% increase from theprevious year. Our commitment remains unwavering as we continue to refine our
products and extend support to as many job seekers as possible.

Hisayuki “Deko” Idekoba
Representative Director,
President and CEO

Fourth Quarter of FY2022 Financial
Results Webcast Simplify Hiring
May 2023

Matching & Solutions
Realizing our Simplify Hiring initiative necessitates

For example, collaboration between our Staffing andextending to the entire HR matching market throughHR Technology SBUs resulted in the creation of Indeed

a collaborative approach across our SBUs and HR-

Flex, a temporary staffing app. While HR Solutions

related business sectors. We will leverage unique online

in our Matching & Solutions SBU utilizes a matchingand offline data, bolstered by robust relationships withengine that continues to evolve throughout the Group,business clients within Recruit Group, and harness

making it possible to respond more effectively to themachine learning and AI technologies to drive initiatives

diverse hiring needs of our business clients.

across the entire Group.

Watch the video
R EC RUIT G ROUP P RO F I L E 20 2 3 I N S I D E O UT

06

Help Businesses Work Smarter

Enabling a smooth and complete circulation of theflow of people, goods and services, and money

01 Introduction

Matching & Solutions SBU is committed to advancing the evolution of matching
platforms that leverage data and technology to connect individual users andbusiness clients. It also provides comprehensive business support SaaS solutions, Air
BusinessTools, to drive the overall streamlining of business processes, and to ultimately
enhance the productivity and profitability of our business clients in Japan. In essence,
our work represents our long-term strategy: Help Businesses Work Smarter.
Specifically, we are progressing by building an ecosystem*1 that enables the smoothand complete circulation of the flow of people, goods and services, and money. Thisis achieved by combining foundational promotional matching platforms with Air
BusinessTools, a suite of SaaS solutions that enhances the efficiency of our clients'
business operations, including sales management, payment functions, customer
management, human resources, and financial management. By encouraging businessclients to utilize a greater variety of essential products and services within thisecosystem, we believe it will lead to an increase in the lifetime value*2 of our businessclients and, in turn, contribute to our long-term revenue.
Furthermore, we are actively working on enhancing our productivity and profitability.
By harnessing technology to boost productivity, we are not only refining the strengthof our existing matching platforms but also using them as a lever to invest in building
the foundation for new businesses with the potential for future revenue contributions,such as fintech services. We are committed to efficient operations, aligning with Recruit*Cumulative number of registered accounts of paid and unpaid SaaS solutions provided by Matching & Solutions
SBU in Japan as of September 30, 2023. Registered accounts refer to the number of stores and business locations
that have registered for each relevant service, including both active and non-active accounts.

Group's mission of "Opportunities for Life" much faster, surprisingly simpler and closer
than ever before.

Hot Pepper Beauty
partners with AirPAY

Yoshihiro “Yoshi” Kitamura
Executive Vice President andHead of Matching & Solutions
Business, Recruit Holdings
President and Representative
Director, Recruit Co., Ltd.
Inside Out
Yoshi has recently developed a passion for fishing. Asa child, he was an avid reader of fish encyclopedias
and dreamt of becoming a fisherman.
R EC RUIT G ROUP P RO F I L E 20 2 3 I N S I D E O UT

On January 31, 2023, Hot Pepper Beauty partneredwith AirPAY and introduced the "Smart Payment"
online payment feature, enabling users tocomplete payments based on the credit card
information they provided during the booking
Fourth Quarter of FY2022
Financial Results Webcast Help
Businesses Work SmarterMay 2023

Watch the video

process. By combining our SaaS solutions, Air*1: An analogy that likens thecirculation and flow of people,
goods and services, and money
within the matching platform
and SaaS provided by Recruit tonatural ecosystems.

*2: The total quantity of usage
and revenue of our products andservices per customer from a
medium to long-term perspective.

BusinessTools, with a promotional matching
platform, we can broaden our reach across various
aspects of business clients’ operations, fostering
expectations for longer-term business growth.
07

01 Introduction

Prosper Together
Recruit Group’s management strategy is designed to support a sustainable future as
we pursue our mission: “Opportunities for Life. Faster, simpler and closer to you.” The

Commitment to Sustainability toward 2030
Start

2021

third pillar of our management strategy, "Prosper Together," aims to achieve sharedsustainable growth together with all stakeholders.
To improve our corporate value in this era of great uncertainty, we will strive to makea positive impact on society and the environment throughout our corporate activities
based on sound governance. As a result, we believe that we will prosper together alongwith all our stakeholders.
Having a job is one of the most important facets of life for many people. As such, we

2022

2023

2024

2025

2026

2027

2028

2029

GOAL
2030

Environmental

Social – Social Impact

Social – Our People

Achieve carbon neutrality
throughout our businessactivities and our value chain

Halving the time to get hired

Achieve approximately 50% representationof women in senior executive positions, inmanagerial positions, and total employees ofthe entire group

Achieved carbon neutrality inour business operations for two
consecutive years*3.

believe it is critical to make a positive impact on this throughout our business activities.
According to the OECD, approximately 40% of people are assumed to fall into poverty
by losing income for three months*2. We seek to contribute to eliminating poverty andeconomic vulnerability by reducing the time it takes job seekers to get hired.

Improved our products to reduce thetime to get hired and deepened ouranalysis of user data.

Advanced our initiatives to achieve the threeyear target*5.

Social – Social Impact

Governance

Breaking down job market bias &barriers to help 30 million job seekers
get hired

Achieve approximately 50% ratio of womenamong the members of the Board of Directors,
including Audit & Supervisory Board members,
at Recruit Holdings

Focused on reducing the five barriers(education, criminal records, disability,
prior military service experience, and lackof work essentials) that cause prolonged
periods of unemployment and advanced
toward our goal by helping 3.9 million job
seekers*4 facing barriers get hired.

Furthermore, all too often, traditional hiring practices have the unfortunate potential
to reinforce systemic labor market biases and barriers that cannot be solved by speed
and matching improvements alone. For this reason, the Group is also committed tohelp shortening the unemployment period by using technology and partnership.
To achieve this, in 2021, we established the "Commitment to Sustainability Toward 2030,"

Increased women's representation among themembers of the Board to approximately 33%.
Linked the achievement of three-year targets*5 toa portion of long-term incentive compensation*6.

Learn more about our progress in FY2022

which sets five specific time frames and numerical targets for ESG (Environmental, Social,and Governance). We are accelerating our efforts through action such as dialogues with

*1 The years indicated are Recruit Holdings’ fiscal years, which begin on April 1 and end on March 31 of thefollowing year. All figures displayed here are approximate.

stakeholders, Sustainability Committee discussions, and confirming and discussing the
progress of our targets at Board of Directors meetings.

*2 The figure is based on data compiled in 28 countries (source: OECD (2020), How's Life? 2020: Measuring
Well-Being).

Ayano “Sena” Senaha
Director, Executive Vice
President and COO*3 All GHG emission figures are approximate numbers calculated based on the GHG Protocol. Additionally,
independent third-party assurances have been obtained from SOCOTEC Certification Japan for GHG
emissions and avoided GHG emissions in FY2021.
*4 Represents number of hires made on Indeed reported from both job seeker and employer sources
through our Hired Signal measurement, from May 1, 2021 - March 31, 2023 globally for job seekers who
faced at least one of the following barriers: education, criminal records, military experience, disability or lackof essentials such as a computer or internet access.

Inside Out
When Sena was in college, one of her dream jobs
was window cleaning for skyscrapers. She even had
a part-time job interview for it, but during the field
experience she got such severe motion sickness
from the strong winds that she had to give up.

R EC RUIT G ROUP P RO F I L E 20 2 3 I N S I D E O UTESG Fireside Chat
July 2023
Fourth Quarter of FY2022
Financial Results Webcast
Prosper Together
May 2023

During our online event “ESG Fireside Chat,” weWatch the video

View the transcript and presentation materials*5 The women’s representation target for employees is based on the results from April 1, 2022 to April 1,
2025. The women’s representation target for members of the Board of Directors is based on the results from
July 1, 2022 to July 1, 2025.
*6 Compensation based on ESG target achievements is set as a part of board incentive plan (BIP) trust(stock) compensation. Eligibility to receive this compensation and the payout amount will depend onwhether or not the three-year target is achieved.

shared our FY2022 progress and answered live
questions from viewers.
08

02

About
Recruit Group

Recruit Group in Numbers

10

Vision, Mission & Values

11

History of Our Value Creation

12

Group Structure

13

Leadership

14

Material Foundations for Corporate Activities

15

ESG Awards and Recognitions

16

REC RU I T G RO U P P RO F I L E 202 3 INSIDE O UT

02 About Recruit Group

Recruit Group in Numbers

58

Group Employees¥
Revenue

K

3.42
545

%

Adjusted
EBITDA

60

Countries Served+*1

Trillion
Yen

Billion
Yen

*2

*3

Percentage ofOverseas Sales

57.2

63
FoundedYears
Ago

Women's Representationin Leadership%*2*1 As of March 31, 2023.
*2 Consolidated results for fiscal year ending March 2023 (April 2022
through March 2023)

39

%

*4

*4 The percentage of managerial positions is calculated from Recruit
Holdings, SBU Headquarters and the primary operating companiesof each SBU. Managerial positions mean those that have subordinate
employees.

*3 Operating income + depreciation and amortization (excluding
depreciation of right-of-use assets) + share-based payment expenses± other operating income/expenses.

R EC RUIT G ROUP P RO F I L E 20 2 3 I N S I D E O UT10

02 About Recruit Group

Vision, Mission & Values

Basic Principle

VisionMissionValuesWe are focused on creating new value

Follow Your Heart

Opportunities for Life.
Faster, simpler and closer
to you.

Wow the Worldfor society to contribute to a brighter
world where all individuals can live life
to the fullest.

We envision a world where individuals
and businesses can focus on what reallymatters. The more people are free topursue their passions, the better our
future becomes.

Since our foundation, we have connectedindividuals and businesses, offering both amultitude of choices.
In this era of search, where information
has become available anytime anywhere,
we need to focus more on proposing
the optimal choice. We seek to provide“Opportunities for Life,” much faster,surprisingly simpler and closer than everbefore.

What we do isn’t a job. We enjoy exploring
what is possible for our future. We
question the status quo, fail well andovercome with resilience. We are a force
for change.

Bet on Passion
We are a team of people fueled bycuriosity. We respect and capitalize oneach other’s differences. We know that one
person’s crazy idea, when backed by data
and research, can become the best bet.

Prioritize Social Value
We, as global citizens, strive to contributeto a sustainable society through all of
our corporate activities. Each one of us
is committed to seeking out the needsof society and taking action for a better
future.

R EC RUIT G ROUP P RO F I L E 20 2 3 I N S I D E O UT

11

02 About Recruit Group

History of Our Value Creation

Times and places may change, but there is one thing we always strive for:to democratize and deliver information to those who need it with incredible
speed and convenience. This is how we help resolve the inconveniences
and inequalities of society and provide opportunities for everyone todiscover the best options for themselves. We resolve to always offer new
encounters and create new value.

SaaS
SolutionsLearn more about our history

Global Expansion

LifestyleLife Events

Human Resources

1960

1970s

1980s

1990s

2000s

• Recruit started out in• Expanded the business• Launched information• Shifted from information

1960 as an ad agency

scope by launchingmagazines coveringmagazines to online

reservation system thatwith the goal of

specializing in university

mid-career recruitment

various fields to meet themedia in pursuit of evenrevolutionized booking

becoming the market

newspapers

and housing informationneeds of the times, such

better services for our

behavior

leaderpublications

as education, housing andcustomers and clients• Published “An Invitation toCompanies,” a collectionof job information geared
for university students

R EC RUIT G ROUP P RO F I L E 20 2 3 I N S I D E O UTreal estate, pre-owned
automobiles, bridal, travel,
dining and beauty• Launched an online

2010s• First global entry and• Began global expansion• Launched business andwithdrawal, that helped

management support

us shape our M&A

SaaS solutions in Japan

2020s
Focused on our threestrategic pillars:•

Simplify Hiring•

Help Businesses
Work Smarter•

Prosper Together

strategy12

02 About Recruit Group

Group Structure

Recruit Group started in 1960 as a

We operate our businesses through threebusiness providing job information toStrategic Business Units (SBUs) and havestudents by placing job advertisements

established respective SBU headquarters

HR Technology SBU

for its clients in university newspapers in

to further reinforce swift global decision-

Japan. Since then, we have consistently

making. This structure enhances the

HR Technology SBU consists of Indeed and Glassdoor, and operates in more than sixty

created and operated matching platform

management capabilities of each SBU

businesses connecting individual users

Headquarters and enables them toand business clients.

execute their own strategies. At the same

We provide individual users around theworld the best possible choices andtime, each SBU collaborates closely toachieve our three strategic pillars.

countries. These are online platforms where people can find jobs and learn about companies,
offering a suite of tools for job seekers that includes job search, resume posting, company
information and reviews, and scheduling and conducting video and phone interviews. For
employers, Indeed and Glassdoor offer solutions to recruit and hire qualified talent in aneasier and more efficient way.

support business clients in improving
their operational efficiency by utilizing
technology and data, all enabling simpler
and faster matching.

Matching & Solutions SBU

Staffing SBU

Matching & Solutions SBU consists of businesses mainly in Japan: Marketing Solutions and HR

Staffing SBU operates a comprehensive temporary staffing service, primarily in Japan and

Solutions. Marketing Solutions offers platforms where individual users and business clients

Europe, North America, and Australia. By organizing and delegating authority according to

can be connected in fields like housing & real estate, beauty, bridal, travel, dining and others.

the characteristics of each country's market, Staffing SBU promotes its business in a way that

HR Solutions helps individual users find jobs and helps business clients’ hiring activities across

best suits each market and provides maximum value.

a variety of industries. Matching & Solutions SBU also provides Software as a Service (SaaS)
solutions that help our business clients reduce their workload and improve productivity.

R EC RUIT G ROUP P RO F I L E 20 2 3 I N S I D E O UT

13

02 About Recruit Group

Leadership

Board of Directors andAudit & Supervisory Board Members

The Skills Matrix of Our Board of Directors Members
Skills and Expertise
Name

Corporate
Management

Finance

Legal/Risk
Management

GlobalBusiness

Technology

HR Business

ESG/
Sustainability

Transformation

Masumi Minegishi

Masumi Minegishi

Hisayuki Idekoba

Ayano Senaha

Rony Kahan

Representative Director
and Chairperson

President, Representative
Director and CEO

Director, Executive Vice
President and COO

Director (Non-Executive)

Hisayuki Idekoba

Ayano Senaha

Rony Kahan

Naoki Izumiya

Hiroki Totoki

Keiko Honda

Naoki Izumiya

Hiroki Totoki

Keiko Honda

Katrina Lake

Independent Director(Non-Executive)

Independent Director(Non-Executive)

Independent Director(Non-Executive)

Independent Director(Non-Executive)

Katrina Lake

Yukiko Nagashima

Takashi Nishimura

Yoichiro Ogawa

Katsuya Natori

Yukiko Nagashima

Takashi Nishimura

Yoichiro Ogawa

Katsuya Natori

Standing Audit &Supervisory Board Member

Standing Audit &Supervisory Board Member

Independent Audit
and Supervisory Board
MemberIndependent Audit
and Supervisory Board
MemberR EC RUIT G ROUP P RO F I L E 20 2 3 I N S I D E O UT

For information on our corporate executive officers, please refer to "Recruit Holdings Announces Leadership
Structure for FY2023," published February 13, 2023.

14

02 About Recruit Group

Material Foundations for Corporate Activities

We have set material foundations
for corporate activities to increase
our corporate value in a sustainable

Corporate
Governance

Human
CapitalCorporate Ethics
and Compliancemanner by prospering together with all

We endeavor to strengthen our corporate

We have made value creation generated

We view corporate ethics and compliance as

stakeholders. Those material foundations

governance by designating our COO,

by empowered employees a renewed

a fundamental prerequisite for our corporate

are identified based on dialogues —Managing Corporate Executive Officer

priority for management. We are redoubling

activities. We define them as meeting society’s

including environmental, social andand Director of the Board as the person

our actions to reinforce human capital,

expectations and demands through appropriate

governance (ESG) topics — with our

responsible for corporate governance,

focusing in particular on initiatives related

action, both as a company and as individuals,

external stakeholders as well as internal

including ESG.

to diversity, equity and inclusion (DEI) andand strive to go beyond the framework of simple

discussions among our Board of Directors

Corporate Governanceemployee engagement.

legal compliance.

ESG Commitment: Governance

Learn more

Corporate Ethics and Complianceand various committees. We reinforce
initiatives for each theme, and the Board

Recruit Group Code of Ethics

of Directors monitors them based on

Internal Controls

discussions in the related committees,
which serve as advisory bodies to theBoard of Directors.

Data Security andData Privacy

Human
RightsConservation of
the Planet

We have set data security and data privacy

We based our Recruit Group Human Rights

To support the longevity of our planet, which is

as high-priority themes to address in our

Policy, which was resolved by the Board of

the base for our corporate activities, we considergroup-wide risk management agenda. We

Directors, on discussions occurring withinclimate change the key issue among the various

take appropriate measures depending on

the Sustainability Committee.

environmental concerns.

the importance of the information in our

Learn more

Learn morepossession as well as the characteristics ofthe data to be protected.
Learn more

R EC RUIT G ROUP P RO F I L E 20 2 3 I N S I D E O UT

15

02 About Recruit Group﻿

ESG Awards and Recognitions

Inclusion in ESG Indices

ESG Awards and Recognitions

Recruit Holdings is listed in all six ESG indices for Japanese equities adopted by the

Recruit Holdings and its Group companies have been recognized with multiple awards for their

Government Pension Investment Fund (GPIF) of Japan.

initiatives in advancing environmental and social sustainability.

Recognized as Sustainalytics ESG
Regional Top Rated company
Sustainalytics, a Morningstar Company, is a leading ESG research,ratings and data firm. Recruit Holdings was identified as a top regional
ESG performer out of over four thousand global companies.

Awarded Third Place in Forbes
JAPAN's “WOMEN AWARD 2023”
The award acknowledges companies and individuals dedicated tofostering women's involvement. Out of approximately two thousand
Japanese firms, Recruit Holdings took third place for its commitment
to enhancing human capital across its Group companies.
Learn more about the award

Won First Place in the 2023 Award for
Excellence in Corporate Disclosure Selected by
Securities Analysts Association of Japan
Recruit won the first-place for "Excellence in Corporate Disclosure" inadvertising, media, and entertainment. This recognition underscores
the company's dedication to investor relations, commitment to ESG
disclosures, and regular hosting of ESG-related events.
Learn more about Recruit Holdings' inclusion inother ESG indices and related information
R EC RUIT G ROUP P RO F I L E 20 2 3 I N S I D E O UT

16

03

Our Business
Units

HR Technology SBU

18

Matching & Solutions SBU

20

Staffing SBU

22

REC RU I T G RO U P P RO F I L E 202 3 INSIDE O UT

03 Our Business Units

HR Technology SBU Overview

HR Technology SBU consists of Indeed and Glassdoor and operates in more thansixty countries. Through these platforms, we offer a suite of tools for job seekers
that includes job search, resume posting, company information and reviews.

For our business clients, we provide services related to job advertising, recruitment
branding, and solutions to recruit and hire qualified talent, such as talent sourcing,screening, and offering, in an easier and more efficient way.

IndeedIndeed Flex

Indeed is the #1 job site in the world with

Indeed Flex is a staffing platform that helps

applicants can apply easily, and theover 350 million unique visitors every month.

people get flexible work in a simpler and fasterautomated process enables them to start

Indeed strives to put job seekers first, giving

manner. The service is currently available inworking more quickly. Additionally, we arethem free access to search for jobs, post

the UK and the U.S.

receiving positive feedback on Indeed Flex's

resumes, and research companies.

Over 350M monthly unique visitors

By digitizing the processes involved inmatching job seekers with hiring companies,

Internal data, an average of each month’s total of
distinct cookie IDs visiting Indeed’s site between April September 2023

“Instant Pay,” a feature available in somecountries that allows workers access toearnings within a few hours of every shift.

Glassdoor
Glassdoor offers millions of workplace reviews,
ratings, salary details and more, paired with thelatest jobs, to help people everywhere find a job
and company they love.

Over 55M monthly unique visitors

BrowseBookWork

Get Paid Instantly

Internal data based on Google Analytics, an averageof each month’s total of distinct cookie IDs visiting
Glassdoor’s site between October 2022 and March 2023.

Over 180M reviews, salaries, and insights
Glassdoor internal data as of October 2023.

R EC RUIT G ROUP P RO F I L E 20 2 3 I N S I D E O UT18

03 Our Business Units

HR Technology SBU Stories

To foster a more active exchange of workplace information,
Glassdoor has evolved from a “review site” to a “community”
On July 18, 2023, Glassdoor announced its
rebranding, evolving from a job search site focusedon workplace reviews to a vibrant community
fostering workplace discussions. Responding to
the growing desire among job seekers, employees,
and employers for a platform facilitating open andcandid conversations amid the swift changes in theworkplace environment, Glassdoor introduced a novel
dialogue feature — designated as "Bowls" — within“The new Glassdoor will change how people exchange

the community. This feature enables individuals linked information, share knowledge and opinions, and build

The orange chair
Giving job seekers a seat at the tableto specific industries or companies to participate in

Putting job seekers first is themeant to remind team members thatof times a year when they are looking for a job to afundamental principle that has driven

the job seeker should always have a seatplatform they get value out of every single day.

Indeed since the start. The philosophy isat the table, and every decision should

ingrained in the company’s culture andconsider what is best for the job seeker.

guides the team in their work every day.

Since then, Indeed has grown into the

Several years ago, during a period ofworld’s top job search site with over 350

rapid growth, Indeed’s CTO at the time,

million unique visitors per month*1, andcame up with the idea to place an orange

whether working from home or the office,chair in every meeting room in Indeed’s

its global team always puts job seekers’

offices. The eye-catching chairs wereneeds first.

discussions, seek job-related advice, and more. The
site evolved from a place people come to a couple

communities. It also allows leaders to understand theirown companies better, and use it as a guide for branding
and improving the work environment.”(Christian Sutherland-Wong, CEO, Glassdoor)

Read more about Glassdoor’s rebranding

Indeed and Glassdoor release
their first joint report: “Hiring andWorkplace Trends Report 2023”

Report on Indeed's“FutureWorks 2023” Event

Indeed and Glassdoor's research teams joined

event in Atlanta, Georgia, to discuss theforces to shed light on workplace trends andimpact of AI on work.

their impact.

In September 2023, Indeed organized an

Read the event summary

Read the report highlights*1 Internal data, an average of each month’s total of distinct cookie
IDs visiting Indeed’s site between April and September 2023.

R EC RUIT G ROUP P RO F I L E 20 2 3 I N S I D E O UT19

03 Our Business Units

Matching & Solutions SBU Overview

In Japan, Matching & Solutions SBU offers one of the largest online
matching platforms through its Marketing Solutions and HR matching
services through its HR Solutions, as well as Software as a Service

Our businesses provides vertical matching platforms and
SaaS solutions that help businesses work smarter("SaaS") solutions for business clients.
Marketing Solutions supports business clients' operations including
customer acquisition, customer relationship management, andpayments, tailored to each business client in a variety of industries suchas housing and real estate, beauty, travel, bridal, dining, and many others.
HR Solutions operates HR matching services, such as matching platforms
which help individual users get jobs and helps business clients' hiring
activities, placement services, as well as other HR-related services.
In addition, both Marketing Solutions and HR Solutions offer matching
platforms which connect individual users and business clients, andcloud-based SaaS solutions that utilize technology and data to improvethe efficiency of the day-to-day management and operations of clients'
businesses.

*Cumulative number of registered accounts of paid and unpaid SaaS solutions provided
by Matching & Solutions SBU in Japan as of September 30, 2023. Registered accounts
refer to the number of stores and business locations that have registered for eachrelevant service including both active and non-active accounts.

R EC RUIT G ROUP P RO F I L E 20 2 3 I N S I D E O UT20

03 Our Business Units

Matching & Solutions SBU Stories
Air BusinessTools celebrates its tenth anniversary
By digitizing tasks that were once cumbersome in analog form, we aim to help

Recruit Works Institute announces “Future Predictions 2040 in Japan:
The Dawn of the Limited-Labor Supply Society” publication

business owners operate their businesses as they envision them and create stores

Recruit Works Institute — an independentthat are uniquely their own. Since its launch in 2013, Air BusinessTools has evolved
into 17 distinct business and management support services* , including reservation1and reception management, accounting, payment processing, hiring, shift
management, and a feature of financial management.

institution conducting research on individuals
and organizations in Japan for more than two
decades — sparked discussions across various
domains, including in major Japanese media

Over a decade, our inaugural product, AirREGI, has seen remarkable growth,reaching a user base of 709,000 accounts*2, while AirPAY has similarly expanded to430,000 accounts*3. As these account numbers rise, our role transforms, shiftingfrom service providers to a position more closely aligned with infrastructure. Our
overarching goal is to emulate the qualities of "Air" — an often overlooked yet

broadcasts, with the publication of "Future
Predictions 2040 in Japan: The Dawn of theLimited-Labor Supply Society." The report
reveals that if the current trajectory continues,
Japan will likely face structural and chronicsteadfast presence that reliably supports businesses when needed.

labor supply shortages impacting the operation

Launch of Air BusinessTools website

What will happen when Japan faces a shortage(Japanese only)

The brand website celebrates the tenth anniversary of the service, presenting
a retrospective through testimonials from numerous businesses and offering aof life-sustaining services maintaining society.
of approximately 11 million workers by 2040?
The report provides significant insights into

Read the report highlights
what can be done now to avoid this scenario and offers
valuable implications for other countries likely to facesimilar challenges in the future.

comprehensive overview of the service's journey.

Recruit won FT Innovative Lawyers Asia-PacificAward for 2023

Hot Pepper Beauty Academy promotes
mobile hairdressing services in Japan
In Japan, there is a growing demand for mobile hairdressing
services for those who have difficulties visiting salons, but
few businesses are equipped to offer these mobile services.

Recruit won the award in the category “In-house: Innovation in Commercial

To address this, Recruit is utilizing a unique approach by

and Strategic Advice.” The award recognizes the efforts of Recruit Co., Ltd. inpromoting mobile hairdressing services so that elderly

consolidating more than 1,800 privacy policies developed and optimized for specificpeople, people with illnesses, and caregivers with small

products into several documents and developing a system that enabled necessary

children can enjoy suite services in the comfort of their own

amendments to be made automatically all at once to ensure that the business’s new

homes or at a hospital or nursing home.

and updated products are made privacy compliant timely and efficiently.
*1 As of April 2023

*2 As of December 2022

R EC RUIT G ROUP P RO F I L E 20 2 3 I N S I D E O UTRead more about the service details*3 As of September 30, 2023

21

03 Our Business Units

Staffing SBU Overview

Watch Staffing SBU’s brand video: The international network of RGF Staffing delivers diverse
job opportunities around the world.

Local strength, global impact

Japan

North America

In Japan, our staffing business provides a broad range ofIn the U.S., Staffmark Group and CSI Companies are ourstaffing solutions across all industries and professions,staffing business representatives. Staffmark Group is a family

including clerical, industrial, engineering and IT. Theof staffing brands in the U.S. and Canada, providing staffing

combination of our two brands, Recruit Staffing and Staff

solutions for small businesses as well as large companies.

Service Group, constitutes the leading player in Japan’s

Staffmark Group brands include: Staffmark, Advantage

staffing market. Recruit Staffing is particularly strong

Resourcing and Advantage xPO. Each provides expertise,in providing clerical job opportunities, especially inconnections and technology to connect job seekers andmetropolitan areas such as Tokyo, Osaka and Nagoya. Staff

enterprise clients. CSI Companies provides administrative

Service Group provides a wide range of job opportunities

and professional staffing services for companies across athrough strong relationships, mainly with local companies,

wide range of industries, such as IT, finance, healthcare,including those in smaller cities across the nation.

and pharma. We have a leading position in the professionals
market in the U.S. Southeast.

Staffing SBU’s purpose is to contribute to society byconnecting individuals and businesses while offering both amultitude of choices through its global staffing network.
The social value we provide is best described as offering“Opportunities for Life” around the world to people from allwalks of life. We do this by presenting them work and career
opportunities and at the same time helping enterprises
establish an effective workforce to continuously move them

EuropeAsia-Pacific

In Europe, our staffing business is positioned in the

In Australia, our staffing business offers a broad range

northwestern region, with staffing activities concentrated inof staffing services for business clients and a variety

Belgium, France, Germany, the Netherlands and the U.K.

of opportunities for job seekers through various well-forward. Today our operations span much of the world:

With Start People, Unique, Secretary Plus, Bright Plus,

Japan, Europe, North America, and Asia-Pacific. We provide

USG Professionals and Advantage Resourcing as our main

staffing services in a wide range of fields, such as clerical,

brands, we have built robust local networks to serve job

industrial, medical and technical. In addition to temporary

seekers and business clients across these countries.

staffing and permanent placement, we offer consulting

established brands. RGF Staffing APEJ spans the AsiaPacific region, including Australia, New Zealand, Hong
Kong and Singapore. RGF Staffing APEJ’s brands include
Chandler Macleod, Peoplebank, Vivir Healthcare, ahs
hospitality, OCG, Aurion and Leaders IT Services.

solutions from professionals with highly specialized expertisein fields such as IT, engineering, finance and law.

R EC RUIT G ROUP P RO F I L E 20 2 3 I N S I D E O UT22

03 Our Business Units

Staffing SBU Stories

Launching RGF Connect: building bridges andbreaking barriers for people around the world

Supporting job seekers facing
barriers through RGF Connect

Through RGF Connect, RGF Staffing andThrough RGF Connect, we are on a mission to help those who need

its operating companies across the world

it most, whether that is supporting women facing inequality while

are contributing to a fairer society bygetting back into employment or helping disabled people to findhelping more people obtain meaningfula meaningful job. Our global program is helping fight inequality toemployment. RGF Connect will create local
ripples around the world, which can build
up into one global wave.
RGF Connect also acts as a half-year
leadership development program for ourIntroducing the RGF Connect initiatives

talents. Through the program, they will be

Putting people first, helping them thrive,in charge of different phases of a project,and ensuring a better future for everyone isfrom identifying high-priority social issues

what drives our people at Staffing SBU. RGF

to be addressed to transforming ideas

Connect was designed and launched throughto business plans and realizing initiatives

this commitment to such principles. It is a

aimed at creating educational and job

global social program led by RGF Staffing

opportunities for a local, underserved

and launched in June 2023. The programcommunity. As the leader of each project,supports underserved people with education,

this experience of gaining a deeper

training and employment opportunities tounderstanding of social issues, establishingbuild a stronger and more inclusive society.

a path to solutions, and managing the

All initiatives are driven by the concept ofproject is contributing to the development"Bridging opportunities for all."of future leadership candidates.
Read more about RGF Connect

YvonneMastenbroek
Chief Sustainability
OfficerRGF Staffing

create a better society for everyone.
I strongly believe that this initiative bringing together all of theoperating companies under Staffing SBU to fight inequality andreduce barriers to employment around the world is helping to build abetter society for all, and I am hugely proud of it.
Read her full message

A Case of RGF Connect
CSI Companies is bridging opportunities for students in anunderserved community through its Tech Internship Program
CSI Companies, one of Staffing SBU’scomplement their interests and position them

operating companies, is based in Jacksonville,

for lucrative jobs in the technology industry.

Florida, which has a large population of

The interns obtain hands-on experience,

underrepresented racial minorities. Its

supporting CSI’s overall IT operations.

community struggles with ongoing disparities
in education and job opportunities. CSICompanies operates an internship program
called “CSI Connect” for students in
Jacksonville’s underserved communities.
Through the internship program students are
exposed to technology careers, professional
training, and life-changing opportunities. The
objective is to provide them with meaningful
and practical work experiences that

R EC RUIT G ROUP P RO F I L E 20 2 3 I N S I D E O UTDuring its first year, thirty interns completed
the CSI Connect Internship Program.
The company plans to grow the program
by investing in the local High School
Technology Magnet, exposing students totech, encouraging them to choose IT majors
in college and then offering them college
internships.
Read more about the program23

04

Our Impact

Our Commitment to Sustainability

25

ESG Event Report26

Social27

Governance42

Environmental

43

Human Rights Policy to Address Issuesof each SBU

47Foundation of Our Impact Creation

48

Creating a Sustainable Tomorrow for All

49

REC RU I T G RO U P P RO F I L E 202 3 INSIDE O UT

04 Our Impact

Our Commitment to Sustainability

Our commitment focuses on sustainability to realize our mission: “Opportunities for Life. Faster, simpler andcloser to you,“ and sets specific targets to reach by FY2030*1 for environmental, social and governance (ESG).

E

S

S

G

Climate Action

Social Impact

Our People

Corporate GovernanceBecome carbon neutral throughout

Shorten the time to get hired by half by 2030*3

Achieve gender parity across all

Reach gender parity of the Board of

employee levels by 2030*5

Directors members including Audit &nvironmental

our business activities and our entire
value chain by 2030*1,2

ocial

Help 30 million people facing barriers get
hired by 2030*

4

ocial

overnance

Increase women's representation ratio

Supervisory Board members by 2030*6

in managerial positions*1 The years indicated are Recruit Holdings’ fiscal years, which begin on April 1 and end on
March 31 of the following year. All figures displayed here are approximate.

*3 The period from the time a user starts an active job search on the Indeed job platform to thetime the user confirms receipt of a job offer.

*2 Carbon neutrality includes reducing greenhouse gas (GHG) emissions as well as offsetting
the remaining emissions. GHG emissions throughout business activities are the sum of
direct emissions from the use of fuels in owned or controlled sources (Scope 1) and indirectemissions from the use of purchased electricity, heat, or steam in owned or controlled sources(Scope 2). GHG emissions from the value chain are indirect emissions other than Scope 1 and 2(Scope 3). The entire value chain represents the total of Scopes 1, 2 and 3.

*4 The initiative as of today includes providing assistance through the Company’s online
job platform, and through partnerships with NPOs and other organizations with whom theCompany collaborates. The Company may also aim to reduce other various barriers, including
newly emerging issues in the labor market by FY2030.

R EC RUIT G ROUP P RO F I L E 20 2 3 I N S I D E O UT

*5 All employee levels refer to the following three groups including all employees, managerial
positions, and senior executives. Senior executive positions are defined as Corporate Executive

Officers and Corporate Officers of Recruit Holdings and Matching & Solutions Strategic Business
Unit (SBU), and CEOs of the Company’s major subsidiaries and heads of key functions in HR
Technology and Staffing SBUs.
Figures for managerial positions and employees are calculated from Recruit Holdings, SBU
Headquarters, and primary operating companies of each SBU. Managerial positions mean all of
those that have subordinate employees.
*6 The Board of Directors members are defined as Directors of the Board and Audit &Supervisory Board members.

25

04 Our Impact﻿

ESG Event Report

Our Progress in FY2022 Towards Our FY2030 Goal

On July 4, 2023, Recruit Holdings held an ESG Fireside Chat to report on our
Commitment to Sustainability - Prosper Together progress for FY2022. The chattook the form of a discussion between Ayano “Sena” Senaha, Executive Managing
Officer and COO in charge of Sustainability, and Junichi Arai, Senior Vice President
in charge of corporate strategy and investor relations.

ESG is at the heart of our business.
It is not a small-scale side project.
We set these ESG goals because we want ourcompany to positively impact society and at
the same time be profitable; that's why ESG isat the heart of our business.
Since we are not a manufacturer, we don't havepatents that will last for decades as a sourceof revenue. That means we need great talentand diversity to create something new andinnovative. Diversity is our survival mechanism.
ESG truly is central to what we do.

“Data for Good.”
Channeling the power of our uniquedata for the benefit of society
Leveraging survey feedback from Indeed
users, we disclosed Work Wellbeing Scores.
When scores indicate room for improvement,
it prompts managers to effect change by
Alongside our progress disclosed in ourHere, we emphasize key moments from thetaking action. Since our platform’s monthly

FY2022 earnings report, we wanted to create

discussion through excerpts where the two

engagement touches over 350 million people*1,

an open and interactive platform where wespeakers delved into their endeavors and

we are thinking about the best way to use thiscandidly shared our passion, challenges, andcontributions aimed at addressing societal

to drive positive social change.

commitment to realizing our goals at thechallenges.

grassroots level.

Read the ESG Fireside Chat summary report*1 Internal data, an average of each month’s total of distinct cookie IDs visiting Indeed’s site between April and September 2023.

R EC RUIT G ROUP P RO F I L E 20 2 3 I N S I D E O UT26

04 Our Impact

Our Commitment to Social Impact

Background
Nearly 50% said the amount of time it takes to find a job is longer
than the amount of time they could live without income*3
How do job seekers feel about the time to get hired?

they could cover their personal expenses if they

Based on a global labor force survey we conducted

had no income. Furthermore, about two-thirds ofin 30 countries where Indeed operates*3, nearly

respondents said their job search took longer than

50% of respondents reported that their job search

they wanted, and nearly half of them said it was

duration was longer than the amount of time

considerably longer.

Almost 40% of people would fall into poverty ifthey have no income for three months*1, 2This figure is based on data from 28 OECD countries, including many
developed countries. It shows that almost 40% of people around the world,
regardless of their level of income, are financially insecure. In the event of asudden loss of income through a reason like unemployment, they could not
keep living above the poverty line for more than three months.

Percentage of financially insecure people in 28 OECD nations

Job Search Durations Significantly Vary byType of Occupation and Pay Range
Analysis of data available through the Indeed

These findings indicate that our efforts to support

platform uncovered notable variations in time to get

job seekers by reducing the time to get hired —jobs across occupations and pay ranges.

the foundation of people's lives — and to broaden

In the U.S., almost all job seekers in lower-paying jobs
found a job faster than job seekers working in higher-

employment prospects for all will have a positive
impact on a sustainable and prosperous society.

paying roles. The data also indicated that job seekers*1 The years indicated are Recruit Holdings’ fiscal years, which begin on April 1 and end on March 31 of
the following year. All figures displayed here are approximate.
*2 Source: OECD report “How’s Life? 2020“R EC RUIT G ROUP P RO F I L E 20 2 3 I N S I D E O UT

in lower salary bands do not have the luxury of time
to wait to find the right job.

*3 Based on a global labor force survey conducted from a selection of 30
countries where Indeed has a business footprint.

27

04 Our Impact

Our Commitment to Social Impact

Reduce job search duration for all

The time it takes to get hired*2

Work is the foundation of people’s lives, and it is also the foundation of

Reduce the time it takes to get hired by half by

Recruit Group’s business. As a global industry leader in HR matching, we

FY2030 compared to that of FY2021*2.

want to help eliminate poverty and economic vulnerability by reducing
the time it takes job seekers to get hired. To achieve this goal, we aspire to
make the job-matching process significantly faster and simpler.
All too often, traditional hiring practices have the unfortunate potential
to reinforce systemic labor market biases and barriers. In addition tosignificantly cutting job search duration through technology to halve thetime to get hired for all job seekers, we support their employment throughpartnerships with NPOs and NGOs.

Job seekers facing barriers*3
Help 30 million people facing barriers in the global
labor market get hired. These are barriers that result
from biases towards age, disability, race and ethnicity,
criminal records, and education levels, amongst others*3.

*1 The years indicated are Recruit Holdings’ fiscal years, which begin on April 1 and end on March 31 of thefollowing year. All figures displayed here are approximate.
*2 The period from the time a user starts an active job search on the Indeed job platform to the time the user
confirms receipt of a job offer.
*3 The initiative as of today includes providing assistance through the Company’s online job platform, andthrough partnerships with NPOs and other organizations with whom the Company collaborates. The Company
may also aim to reduce other various barriers, including newly emerging issues in the labor market by FY2030.

R EC RUIT G ROUP P RO F I L E 20 2 3 I N S I D E O UT28

Our Commitment to Social Impact

Halve the time to get hired by 2030
Progress in FY2022
To reduce the time it takes to get hired*2,

management to interviews and job offers. We

in FY2022 we continued to actively evolve

also continued to enhance the quality andour products to enable business clients tospeed of matching using data obtained fromcomplete the entire hiring process on our

Indeed.

platform, from job posting and candidate

Based on the results of self-reported data

working on identifying and measuring thesurveys by Indeed users, we found thatstart signal more effectively. Specifically, we'rethe baseline job search duration was

accumulating data on user actions that signify

approximately 15 weeks*3 in 2021. Our target isthe initiation of a job search, such as job

to halve this duration by 2030.

application and creating an Indeed account.

Looking ahead, our objective is to identify

Our steadfast commitment is to support

the starting point or "start signal" and ending

job seekers and business clients globally bypoint ("hired signal") of job search activities

reducing time-to-hire through advancements

directly through user interactions on thein our measurement techniques and productplatform rather than relying on surveys. While

offerings.

we've successfully identified the hired signal

04 Our Impact

Product Advancements
Case 1: Indeed Assessments
To realize our goal of reducing the time

the skills needed for a role, and helps job

it takes to get hired, we need to increase

seekers display their skills. We’ve seen thatthe speed and quality when matching job

Indeed Assessments reduced time to hire forseekers with companies seeking their skills.

employers by 16% compared to job postings

Indeed Assessments is an online resource forwhere employers did not use this product.*4

employers that helps identify and measure

Case 2: Indeed Hiring Platform
Our comprehensive Indeed Hiring Platformfrom a job seeker expressing initial interest

automates sourcing, screening, and interview

in a job posted on Indeed to the time theyscheduling*5. More importantly, an employer

interview for this job is only three days,

can immediately determine if a candidate

compared to weeks for the typical hiring

meets the criteria for an interview andprocess.

schedule it on the spot. The average timewith a certain level of accuracy, we're actively*1 The years indicated are Recruit Holdings’ fiscal years, which begin on
April 1 and end on March 31 of the following year. All figures displayed
here are approximate.
*2 The period from the time a user starts an active job search on the
Indeed job platform to the time the user confirms receipt of a job offer.
*3 Baseline job search duration calculated as of March 31, 2022.
Calculated as the period from the time users started an active job searchon the Indeed job platform to the time that 90% of such users hadreceived a job offer (assuming for this purpose that the period it takes for
90% of users to receive a job offer represents a statistically significant
value). The job search duration is calculated based on surveyed user
data collected between September 2021 and March 2022.

R EC RUIT G ROUP P RO F I L E 20 2 3 I N S I D E O UT

*4 For jobs on Indeed that (a) were less than 14 days old and (b) had
applications between November 1, 2022 through December 31, 2022,
an analysis revealed a statistically significant difference in the numberof days for an employer to make a hire on Indeed between jobs thatused Indeed Assessments and those that did not. Time to hire wasdefined as the period from the day the job was posted on Indeed to the
day that the job was closed by the employer with the reason that theemployer hired a candidate on Indeed.
*5 By automating the hiring process, we have reduced the workload
typically carried out by recruiters by approximately 70%.

29

04 Our Impact

Our Commitment to Social Impact

Addressing job search barriers to help 30 million people get hired
By addressing structural biases and reducing the barriers in the labor market, Recruit Group aims tobroaden job opportunities and to contribute to reducing the duration of unemployment for all job seekers.

Five Barriers
Education
Job seekers who lack college or postsecondary education are often less likely to be

Progress in FY2022

hired despite having sufficient skills, affecting
We set a goal of helping 30 million job seekers facing barriers getjobs by FY2030 by reducing bias and barriers in hiring that canmake it harder for many job seekers to find, get and keep a job. We
worked to reduce five common barriers that affect people globally

their wages and lifelong earnings.

Criminal Records
Job seekers with criminal records are oversuch as education, disabilities, criminal records, experience in

50% less likely to get a call back or offer*4.

military services and lack of work essentials such as access to

Learn more about our initiatives

technology and transportation.
Video: Breaking Down the Barriers

Accessibility

Our Journey Towards 2030

Job seekers with disabilities face additional

While our challenge is just beginning, through making

barriers get hired. We will continue to respond to the

product advancements and partnerships*1, we are proud

growing needs of employers for Inclusive Hiring*3 byto have been able to help 3.9 million job seekers*2 facing

further improving our platforms.

barriers to finding a job and may needadditional accommodations on the job.
Learn more about our initiatives

Military-Experienced
Veterans who are looking for a newopportunity or transitioning from service tocivilian life; they may have difficulty matching
their skills and experience to the job market.
Learn more about our initiatives

Job Seekers Without Work Essentials*1 The initiatives as of today include providing assstance through the Company’s online
job platform, and through partnerships with NPOs and other organizations with whom
the Company collaborates. The Company may also aim to reduce other various barriers,
including newly emerging issues in the labor market by FY2030.
*2 Represents number of hires made on Indeed reported from both job seeker and employer
sources through our Hired Signal measurement, from May 1, 2021 - March 31, 2023 globally

R EC RUIT G ROUP P RO F I L E 20 2 3 I N S I D E O UT

for job seekers who faced at least one of the following barriers: education, criminal records,
military experience, disability or lack of essentials such as a computer or internet access.
*3 Inclusive hiring indicates a company’s efforts to realize improved fairness in recruitment
in order to achieve a workplace that reflects the diversity of society, as well as ensuring all
people have access to economic opportunities.
*4 Source: Wendy Sawyer, Peter Wagner (2020), “Mass Incarceration: The Whole Pie 2020”

Without critical support like digital access andtransportation, job seekers struggle to findwork and get employed.
Learn more about our initiatives
30

04 Our Impact

Our Commitment to Social Impact

Addressing job search barriers to
help 30 million people get hired
Reducing Educational Barriers

Most websites that help people build their

According to one survey in the U.S.,

result, we observed more employers advertising

approximately 60% of employers have rejected

jobs without an education requirement, and morea candidate because they did not have a post-

job seekers applied.

secondary education, even though the candidate
had sufficient skills and experience* . These1barriers to the job market based on education
have a tremendous impact on working people
over their lifetimes, such as in terms of wages
and lifelong earnings.

Product Advancement Through Partnerships
resumes are often designed for four-yearcollege graduates in mind, making it difficult
to clearly demonstrate to employers the work
experience and skills gained through practice

Since this has been fully rolled out in the U.S.

and skill-building programs.

after successful product testing, we observed

We therefore partnered with four workforce

a 37% decrease in the share of jobs requiring acollege degree*2. In addition, we found that job
postings that do not require a college degree
received about 10% more*3 applications thanTo address this barrier, we conducted a test

similar job postings with a college degree

where we stopped recommending education

requirement and are more likely to lead torequirements as one of the screener questions

successful hires.

employers populate when they post jobs. As adevelopment organizations in three countries
to launch an initiative called Skill Connect
to create scalable connections between
program graduates and employers. Skill

Indeed Resume, job seekers are matched

Connect uses Indeed’s platform to onboard

with jobs and employers search forjob seekers coming out of the workforce

candidates based on the skills that they

development programs directly onto Indeed.

have acquired.

With this skills information saved to an

Our goals for FY2023
Efforts to reduce barriers in the job market

In addition, RGF Staffing launched RGF

are accelerating at other SBUs as well.

Connect in June 2023, a global social

Recruit arranged the "WORK FIT" (Japaneseonly) employment support and career
education program for justice-impacted*1 Source: Accenture, Grads of Life, Harvard Business School (2017),“Dismissed by Degrees: How degree inflation is undermining U.S.
competitiveness and hurting America’s middle class.”*3 Analysis revealed that within specific job titles, jobs that indicatedthat no college degree was required received 10% more applicants thanjobs requiring college degrees.

*2 Hosted jobs on Indeed in the U.S. that included a college degree as atleast one of the screener questions decreased from 22% in May 2022 to
14% in January 2023, a 37% decrease.

*4 Inclusive hiring indicates a company’s efforts to realize improved
fairness in recruitment in order to achieve a workplace that reflects
the diversity of society, as well as ensuring all people have access toeconomic opportunities.

R EC RUIT G ROUP P RO F I L E 20 2 3 I N S I D E O UTprogram that supports underserved
people with education programs, job
training, and employment opportunities.

people for the first time in 2022. The

We will continue to respond to theprogram has been offered at schools andgrowing needs of our business clients

local employment support organizations

for more inclusive hiring*4 by further

since 2011. To address the issue of

improving our platforms.

preventing recidivism, Recruit encourages
justice-impacted women to prepare for life
after release from prison.

31

04 Our Impact

Our Commitment to Our People

Human Capital Management at Recruit Group
Value Creation Model
Our human capital management system is structured to continually invest in the curiosity andAyano “Sena” Senaha
Director, Executive Vice President
and COO
The basic principle of Recruit Group is

Based on this belief, we have positioned“creating a brighter world where all individuals

maximizing the motivation of our diverse

can live life to the fullest.” This, in turn,

employees to create value as a key

informs our central message — “Follow Your

Recruit Group management theme andHeart“ — to create a world where individuals

are working to advance diversity, equity,and businesses can focus on what reallyand inclusion (DEI). In FY2021, we further

matters to them. We believe that people andstrengthened Recruit Group efforts byorganizations reveal their greatest strengths

setting a gender parity target, which

when they are free to pursue their internal

includes increased gender diversity inmotivations — their ambitions, dreams,

management and Board positions.

desires and passions.

passion of our people, while fostering a corporate culture that enables diversity and an inclusive
workplace that allows everyone to maximize their potential.

On the other hand, the success of eachRespecting different opinions — regardlessbusiness primarily depends on theof class, race, color, sex, language, religion,alignment between its business model

gender, age, political or other opinion,and strategy with the human capitalnational or social origin, nationality, property,

and organizational strategy. Therefore,

sexual orientation, gender identity, disability,

we have transferred central authority

birth or other trait — has been fundamental

over human resources to the SBUs toto Recruit company culture since ourstrengthen the connection with businessfounding in 1960. We believe that respecting

strategies, while Recruit Holdings governs

different opinions while acknowledging thosethe Group's core organizational plan,differences creates new value. In fact, we

succession of key positions, and thehave grown through creating new businesses

policy for improving DEI.

Our Commitment to Sustainability
We believe we can make a positive social impact by resolving social "disadvantages"(inconvenience, dissatisfaction, anxiety), disparities, and inequalities and, by doing so, contributeto enhancing the sustainability of society and the planet so that we all may prosper together.

and services by investing in the ideas andpassions born from the curiosity of our diverse
workforce.

Our Basic Principle
For a brighter, sustainable world where all individuals can live life to the fullest.

R EC RUIT G ROUP P RO F I L E 20 2 3 I N S I D E O UT32

04 Our Impact﻿Our Commitment to Our People

Diversity, Equity and Inclusion (DEI)
Recruit Group has positioned maximizing the motivation of
our diverse employees to create value as a key management
theme and is working to advance DEI. Specifically, we arecommitted to tackling gender diversity, a challenge that
extends beyond national and regional borders. We began
intensifying our efforts to create a more level playing field in
FY2021 by establishing Group-wide objectives.

Progress in FY2022
Accelerating our efforts to achieve our three-year target*3
We are working toward a Group-wide commitment to increase the representation of womenacross the company by setting a three-year target as a milestone toward FY2030.

Women's representation in managerial positions
Achieve gender parity among senior executives, those in managerial
positions, and all employees levels by FY2030 at Recruit Group*2
Senior executives

10%
2021

Managers

39%
2021

50%
2030

50%
2030

To increase women’s representation in leadershipstill working towards their targets but are making strides

positions, each SBU is devising strategies tailored to their

toward a more equitable ratio of women in managerial

respective environments and challenges. Staffing SBU

positions while actively strengthening their initiatives.

has already achieved a 50% ratio of women employees

Furthermore, Recruit Holdings, the parent company ofand managers, with the primary remaining challenge

the Group, has achieved a 50% ratio of women among its

concerning senior executives. On the other hand,managers alone as of April 2023.

Matching & Solutions SBU and HR Technology SBU are

Women's Representation in Each SBU*1 The years indicated are Recruit Holdings’ fiscal years, which begin on April 1 and end on March 31 of the following year.
All figures displayed here are approximate.
*2 Senior executive positions are defined as Corporate Executive Officers and Corporate Officers of Recruit Holdings andMatching & Solutions Strategic Business Unit (SBU), and CEOs of the Company’s major subsidiaries and heads of key
functions in HR Technology and Staffing SBUs. Figures for managerial positions and employees are calculated from Recruit
Holdings, SBU Headquarters, and primary operating companies of each SBU. Managerial positions mean all of those thathave subordinate employees.
*3 The women representation target for employees is based on the results from April 1, 2022 to April 1, 2025.

R EC RUIT G ROUP P RO F I L E 20 2 3 I N S I D E O UT33

04 Our Impact﻿Our Commitment to Our People: Initiatives to Advance DEI

HR Technology SBU
HR Technology SBU has set objectives regarding race, ethnicity, generation and gender to foster a society
where job seekers of all backgrounds can access fulfilling employment opportunities. Furthermore, ourcommitment to promoting DEI extends beyond our workforce and encompasses our products, services,and supply chain, aiming to build a fair and just society where everyone can thrive.

Strengthening our culture and sense of belonging for
all gender identities: introducing gender-affirmingcare employee benefits and relocation allowance
Indeed is committed to creating a work environment where all
employees' well-being is prioritized so they can thrive with peace ofmind. In July of 2023 we introduced a new relocation benefit in the
U.S. for any employees and their families wishing to relocate to a state

Progress in FY2022
Improving Gender Equity through the Wider Adoption of Inclusive Interview Rule
Gender equity is well-established in promotions and career

where gender-affirming care was available. We also enhanced ourbenefits for employees who needed to travel outside of their home
state for reproductive health matters.

Extending inclusion and belonging to thecommunities through the supplier diversity program

advancement at Indeed; hence, the focal point for achieving
gender balance is part of the recruitment process. To tackle
this, we introduced the Inclusive Interview Rule (IIR) in the

Indeed is advancing its program with

U.S. in 2021. This protocol activates the selection process

the aim that by 2030, a minimum of

once we've achieved diversity among candidates during

7% of all company procurement will be

the hiring process. IIR surpassed our expectations during

sourced from suppliers that champion athe pilot, resulting in over half of job offer acceptors being

diverse workforce. This initiative is deeply

women and individuals from underrepresented genders(URGs*1); this positive shift also reduced hiring time, contrary
to our initial assumptions.

with roughly 5,000 unique members, including groups such

In 2023, Indeed extended the application of IIR globally

Functioning as a collective of dedicated employees, IBRGs

to all roles posted internally and externally. In doing so,
Indeed launched required IIR training for all employees
as well as introduced an IIR ambassador program in
the Talent Acquisition team to ensure IIR is effectively
utilized. Chris Hyams, the Indeed CEO, also sent a video
message asking applicants’ cooperation to a voluntaryself-identification questionnaire (VSIQ)*2 to expand theapplication of the IIR.
In conjunction with the IIR, Indeed places significant
emphasis on employee-led Inclusion Business Resource
Groups (IBRGs) as a key initiative to advance DEI. Indeed
currently has 11 global IBRGs operating in 13 countries
R EC RUIT G ROUP P RO F I L E 20 2 3 I N S I D E O UTintertwined with community development

Video message from Indeed CEO Chris to applicantsas the Black Inclusion Group and iPride & Gender Identity.
are critical to establishing a sense of community, providing
opportunities for employees to network and develop theircareers, and improving our products and processes for a more
inclusive workforce. Furthermore, our IBRGs are supported bymembers of our senior leadership team, who act as advisors
and amplify their lived experiences to drive change.

Learn more about
the programby supporting women, people of color, theLGBTQ+ community, veterans, individuals
with disabilities, and other business owners.

Glassdoor introduces Equity Xray™,a new service to advance customer DEI
A 2022 collaborative Indeed/Glassdoor study in the U.S. highlighted that
DEI holds significant weight in job selection. The study shows that nearly
two-thirds (62%) of all respondents, and 72% of individuals aged 18-34,
would either decline a job offer or contemplate leaving a company if they

Read the Indeed Diversity, Equity, Inclusion &sensed a lack of support for DEI efforts from their manager or potential

Belonging (DEIB+) Reportmanager. Glassdoor's Equity Xray™ harnesses insights from millions ofreviews to shed light on variations in overall company satisfaction based on*1 URG stands for under represented genders. Individuals whose gender, gender identity, andexpression are underrepresented and marginalized. This includes women and those who aretransgender, non-binary, agender, gender non-conforming, gender fluid, two-spirit, and genderqueer.
*2 For the global expansion of IIR, in the countries where it is legally permitted to ask applicants for
demographic data, Indeed sends a voluntary self identification questionnaire (VSIQ) to applicants.
*3 The result of 371 companies’ analysis has been published as of February 2023.

gender, race, ethnicity, and other attributes. This service equips job seekers
with a high level of transparency regarding a company's DEI initiatives*3.
Learn more about Equity Xray™
34

04 Our Impact

Our Commitment to Our People: Initiatives to Advance DEI

Matching & Solutions SBU
Recruit, a major Matching & Solutions SBU subsidiary, has integrated DEI advancement into its corporate
strategy. The company believes that job satisfaction leads to professional and personal career growth for
all employees and commits to a flexible work environment that suits individual needs.

Progress in FY2022
Fostering diverse leadership to achieve gender parity

Supporting “Business for
Marriage Equality”
Since 2017, Recruit has extended employee
benefits and internal policies applicable to

While gender role perceptions in Japan are deeply rooted, Recruit has

In alignment with the Group's gender parity goals in 2021, Recruit

been advancing initiatives in the country since 2006 to provide an

conducted an analysis of gender differences in employees' career paths,

environment and opportunities where employees can fully demonstrate

including "hiring," "appointment," and "resignation," a process that led totheir abilities. As a result, there is virtually no gender disparity in boththe identification of challenges in the "appointment" phase. In response

years of continuous employment and ratio of employees working while

to these findings, Recruit clarified its managerial position requirements

raising children, and women manager representation exceeded 30% in

to create diverse leadership and foster a fair workplace where diverse

2023.

employees, regardless of gender, can experience job satisfaction.

spouses and their families to also include samesex partners and their children (including cases
where the partner does not have custody).
By endorsing this initiative, we contribute torealizing a society where individuals can be free
to determine their own lives.
Read more about Recruit’s initiatives
toward marriage equality(Japanese only)

1. Clarification of management
position requirements

2. Coaching program

3. Logical thinking training

Recruit formalized the human resource

In appointment scenarios, it was noted that

The SBU clearly defined the managerial

management methods it has long been practicing

women candidates face a higher incidence

position requirements free from biases

to enhance talent management skills, particularlyof challenges related to logical thinking; arelated to must-have skills or necessary

for managerial staff, and foster diverse leadership.

possible result of limited opportunities to

Supporting career development
for junior and senior high school
girls with the University of Tokyo's
Metaverse Engineering Department

work styles. Following the implementation

Department heads and HR personnel act as

develop logical reasoning skills. To addressof these requirements in several

coaches, promoting a management approach that

this gap, we conduct logical thinking

Recruit aligns with the Metaverse Engineeringorganizations within Recruit, the number

values individual differences. The ultimate goal

training tailored for women employees,of women candidates has increased by an

is to empower all managers to manage a moreaiming to offer equal opportunities.

average of 1.7 times and the number of men

diverse workforce, including women, effectively.

Employees who participate in this training

candidates by 1.4 times, indicating a move

exhibit a noticeable increase in their

towards diverse leadership irrespective of

appointment rates to managerial positions

gender (as of September 2022).

compared to their counterparts.

Department's commitment to advancing
diversity in STEM*1 talent development andprovides support for career development
leveraging expertise in talent and education
domains, and technology. In September 2023,
a Recruit alum from the university spoke at an
event held by the Department for junior andsenior high school girls, sharing their career andRead more about Recruit’s

academic choice experiences.

initiative

Read more about the career event

R EC RUIT G ROUP P RO F I L E 20 2 3 I N S I D E O UTRead more about the coaching program(Japanese only)(Japanese only)*1 STEM: Science, Technology, Engineering, Mathematics

35

Our Commitment to Our People: Initiatives to Advance DEI

Staffing SBU

04 Our Impact

RGF Connect
Providing “Opportunities for all” is at the core of what the SBU does. Projects

Having a diverse and inclusive workforce contributes to business success, to the growth ofpeople, and to a better understanding of each other. That is why Staffing SBU is committed
to achieving diverse leadership that leads to a more inclusive culture and helps ensurethat everyone has leaders who they can inspire to be. The SBU also makes sure that this is
supported by a diverse pipeline of well-supported talented individuals.

under RGF Connect aim to contribute to workplace diversity around the world.

Project 1: Providing career pathways for womenexperiencing inequity in Australia
RGF Staffing APEJ is on a mission to provide career
pathways for women experiencing inequity by building

Progress in FY2022

confidence and breaking constraints. Through theStaffing SBU has already achieved a 50% ratio of womensubsidiaries and SBU executives — and to increase

among all employees and in managerial positions. The

women’s representation in their candidate pool.

only remaining challenge towards gender parity is in

According to the annual monitoring, the SBU has

senior executives. To achieve the goal, the SBU has

seen a steady increase in the number of womenbeen implementing various leadership development

identified as potential future successors acrossprograms across its operating companies.

the majority of its businesses. The SBU also

1. CEO Challenge
CEO Challenge is an internal leadership development
program for senior key talent, including women, tosupports leaders with 360 feedback assessments,
and by providing opportunities for mentoring
and coaching alongside specific development

program, RGF Staffing APEJ helps employers to recruit
Australian women based on their lived experience andkey traits that are sought by employers. Using interviews, psychometric assessments,group training, mentoring and post-placement support, it connects women tomeaningful career opportunities to change the labor market for the better.Find more
about the program

Project 2: Helping the Elderly Get Back to Meaningful
Employment

programs when required.

Many experienced workers face barriers to staying

a solution by approaching real social or business

3. Mentor Me

That is why Unique in Germany, a group company

cases. Each team entering the challenge is asked

Mentor Me is a global mentorship program startedof Staffing SBU, is supporting the elderly, who may

to address the following criteria during its businessin 2023 to develop women leaders and digital

struggle financially after retirement or who experience loneliness, to get back into

proposals: close the opportunity gap, inspire newtalent capability. Participants who aspire to become

meaningful employment. The company helps build bridges to employment and atways of working, and celebrate DEI. Through theleaders are linked to colleagues in the senior

the same time tackles the challenges of labor shortages within the workplace.

process, coaching, strategic workshops and mentoring

leadership level of Staffing SBU to benefit from

opportunities are provided to help them bring their

their experiences and gain new perspectives on

ideas to life.

their own career development. Since the start inlearn how to address a business problem and provide

Since the start of the program in 2020, nine teams
entered the Challenge and five projects havecontinued as real business programs.

2. Succession PlanningStaffing SBU aims to further strengthen succession
planning for its senior executives — the CEOs of major
R EC RUIT G ROUP P RO F I L E 20 2 3 I N S I D E O UT

February 2023, the program has already gained
80 participants from the worldwide operatingcompanies of Staffing SBU.
Find more about the Mentor Me program

in work due to ageism in the recruitment process.

Project 3: Supporting Single Mothers Find
Flexible and Meaningful Opportunities
Single-mother households in Japan are some of themost vulnerable and are more likely to experience
poverty, partially as a result of limited access to skill
development. Staff Service Group is on a mission tochange that by guiding single mothers in Japan toflexible and meaningful career opportunities that work for them. Through free skill
training and long-term career support, Staff Service Group helps these mothers todevelop the skills needed to build high-value careers.

36

04 Our Impact﻿Our Commitment to Our People

Engaging Stakeholders for a More Gender Equitable Society
Our commitment to gender equity extends beyond our organization. We proactively collaborate andengage in dialogue with international organizations, capital markets, corporations and experts. We actively
participate in international initiatives to learn valuable insights from across the globe and share lessons welearned while pursuing gender parity goals.

Engaging in dialogue with capital markets
to advance gender equity together

Global leadership through the HeForShe Alliance

Report comprehensively outlined thecapital markets plays a pivotal role. As a result, Recruit Holdings

endeavors undertaken by each SBU ofproactively participates in ESG dialogues with investors, where

the Group to eliminate unconscious

discussions revolve around DEI topics, including gender diversity.

In 2022, Recruit Group demonstrated
its commitment to the #HeForShemovement in collaboration with fellow
HeForShe Alliance members. Created
by UN Women, #HeForShe is a solidarity
movement for gender equality that
invites men and people of all genders to
act for a more equal world.
In 2023, the HeForShe Alliance Impact

bias, a vital step towards achieving our
gender parity objectives. Furthermore,
the message from Hisayuki "Deko"
Idekoba, the CEO of Recruit Holdings,
was amplified globally by HeForShealongside the HeForShe Summit 2023.
Read the HeForShe AllianceImpact Report 2023

To accelerate progress toward gender equity, we firmly believethat encouraging companies to express the expectations fromWe have garnered keen interest from global capital markets
concerning our strategies for advancing gender-based DEI in
Japan, a region characterized by significant gender disparities.
This has opened doors for us to showcase our initiatives at events
catering to investors.

Participated in "Gender and DE&I: Market expectations
and Japanese leading companies ‘footprint’" hosted by
JP Morgan Securities Japan Co., Ltd.

An advocate for G20 EMPOWER, the G20 alliance for the empowerment
and progression of women’s economic representation

During the event, we
introduced our DEI initiatives
to an audience of nearly

G20 EMPOWER represents a cooperative

Conference on Women Empowerment in

160 participants, primarily

partnership between G20 governments

August 2023, we held a unique distinction as

consisting of institutional

and private sector entities, with the shared

the sole Japanese company featured within

objective of enhancing the involvement of

the theme of "Measuring to Improve." Ourwomen in decision-making positions. Recruit

active commitment to advancing DEI throughemphasizing our commitment to harness the potential of diverse

Holdings firmly recognizes the importancethese numerical targets was spotlighted as

individuals. We also delved into the rationale behind our decisionof G20 EMPOWER and actively serves as ana prime example of how such targets drive

to incorporate gender parity as one of our ESG goals, and we

advocate company, supporting G20 leaders

the essential organizational transformation

addressed the challenges and experiences to overcome the 30%

by sharing best practices and actively

needed to foster DEI. Throughout interactions

threshold for women managers in Japan. We elaborated on specificparticipating in educational sessions.

with fellow advocates, we have been actively

measures taken within each SBU to attain gender parity and our

engaged in knowledge-sharing and have beenbroader contribution to fostering gender equity in society.

In the "G20 EMPOWER Playbook 2023,"
unveiled during the G20 Ministerial
R EC RUIT G ROUP P RO F I L E 20 2 3 I N S I D E O UT

Recruit Holdings Presentation Video: Bring out
the Best in People by Embracing Diversity

investors. We discussed ourmanagement principles,

proactive in shaping planning discussions.
Read the G20 EMPOWER Best Practices
Playbook 2023

37

04 Our Impact﻿

Human Capital Management at HR Technology SBU
Learn and grow at Indeed: cultivating
a culture of learning and exploring
Priscilla Koranteng
Chief People Officer,
IndeedAs a leading matching and hiring platform withrecruiting competitiveness remains on par withmore than 350 million monthly unique visitors ,globally operating technology companies listed on

utilizing our extensive data and technology

stock exchanges.

*1resources to make the job search more efficientand effective every day is crucial to Indeed (Learn
more about Indeed’s business). To thrive in thisbusiness, attracting diverse talented individuals
and fostering our long-term commitment to help
people get jobs is essential.
At Indeed, our human capital management
initiatives are grounded in our five core values.
These values have helped us grow to where we aretoday and will continue to guide us as we look tochange the way people get jobs in the future. The
five core values are: 1) Job seeker first, 2) Pay for
performance, 3) Data-driven, 4) Innovation, and 5)
Inclusion and belonging. We strive to create a work
culture based on creating value for our clients,
where innovation is driven by vast data, and where
everybody feels they belong.
We benefit our employees to motivate them deliver
long-term value to our users and business clients.
Therefore, starting in 2021, we implemented an
Employee Stock Ownership Plan Trust (ESOP) for
executives and other employees. Our benefits,
including ESOP, aim to ensure the company’s
R EC RUIT G ROUP P RO F I L E 20 2 3 I N S I D E O UT

To foster data-driven innovation inside Indeed, we

At Indeed, we provide various training
programs to help employees drive theirperformance, innovation, and career
growth. “Indeed Skills Academy” is alearning platform designed to foster aculture of continuous learning. Through theplatform, employees can learn from theirpeers and subject matter experts acrossdiverse fields through cohort expeditions,a community-based learning option, or in a

explore roles outside of their current verticals,in taking on challenges at work through various

self-paced environment.

such as software engineering. The end goal

trainings. For example, we provide a program

Additionally, through a program called

ensure that each of our employees feels confident

called “Data University” which provides trainings
and resources around data tools, methods, andconcepts at Indeed.
Finally, to strengthen our fifth value of inclusion andbelonging, Indeed has implemented an interview

Technical Apprenticeship, we aim to support
existing employees to progress and pivot

Supporting our people’s health andwellbeing is important for us to continue

closely with Inclusion Business Resource Groups

helping people get jobs. That is why(IBRGs) within Indeed to ensure that diversity,

Indeed provides various programs

inclusion, and belonging are core components ofdesigned to help our employees bring

the Indeed hiring process. IBRGs are employee-led

their best self to work every day. Here aregroups formed around marginalized communities

some examples:to address cross-company issues and help foster a• Open PTO: A worldwide system thatsense of belonging among employees.

diverse individuals.

level position as a software engineer at Indeed.

Indeed’s Programs to Work Well, Live Wellpromotion process. Furthermore, we also work

Indeed has become a group of energetic andemployees for an offer for a full-time entry-

their careers by providing opportunities torule that prioritizes diversity in the hiring andThrough such initiatives based on our core values,of the program is to prepare a group of

Read more details aboutIndeed’s Benefits

allows employees to take unlimited paid
leave
• Flexible Work Environment: All employees
are allowed to work remotely to adjust to*1 Internal data, an average of each month’s total of distinct cookie
IDs visiting Indeed’s site between April - September 2023.

their family and other life needs38

04 Our Impact﻿

Human Capital Management at Matching and Solutions SBU

Three expectations for employees and our “3 Promises”

Mio Kashiwamura
Recruit Holdings, Senior Vice President(Public Relations)
Recruit, Senior Vice President(Human Resources, Public Relations, Sustainability)
Since its inception, Recruit — the company thatrewards for employees, irrespective of theiroversees Matching & Solutions SBU — has invested

age, year of entry, or experience. At the samein the fundamental principle that "people aretime, our Will-Can-Must management method

the source of our value." This is a concept weconnects employees' aspirations with improving

continue to foster by creating an environment that

their competence through the execution of

encourages diverse employees to contribute theirwork. Our "Talent Development Committee"

ideas and passions, because we believe this isbrings together multiple department heads

key to driving business growth (Learn more about

to consider opportunities for each employee

Recruit's business).

from a multifaceted perspective, and we haveWith the integration of seven core operatingcompanies and functional companies into Recruitin April 2021, we embraced a new concept
called "CO-EN (Park/Co-Encounter)." The aim
was to create a space where individual curiosityand passion become the starting point forwithin the organization by expressing theirinterest. And our "Ring" program allows
employees to create new businesses based on
the needs of society they identify.

boundaries that connect to value creation. To

opportunities, such as assignments that promoterealize this, we set forth three expectations forskill development, with OFF-JT opportunities

our employees: "Lead the Self,” "Beyond the Self,"that support it, and are challenging ourselves toand "Wow the Self." The company also committed

further enhance flexible work arrangements —to "3 promises” to our employees.

remote work and a “nearly” three-day weekend

promises to help individuals and teams
be autonomous, highly productive, andmaximize their creativity.

The company’s CO-EN concept and “3 Promises”

Learn more about our CO-EN concept(Japanese Only)

Will-Can-Must Sheet for unearthing employee
curiosity and strengths
We utilize our Will-Can-Must Sheet toleverage and challenges to overcome (Can),

unearth employees' curiosity and strengths.

aligning them with job objectives and skill

Every six months, employees reflect on

development missions (Must). Revisiting thistheir current work and future goals (Will),

process at three- and six-month intervals

discussing them with their supervisor.

helps employees progress, fostering talentsystem — with the expectation that each

Through dialogue, they identify strengths todevelopment.

individual will work with passion and autonomy.

Learn more about career support at Recruit

maximizing individual potential, connecting

Through these efforts, we aim to achieve theunique ideas and passions to the creation ofself-directed evolution of individuals and the

new value. For example, our Mission Grades

organization, enabling them to adapt to the ever-

evaluation structure determines roles andchanging landscape.

R EC RUIT G ROUP P RO F I L E 20 2 3 I N S I D E O UT

expectations and three company

enables employees to pursue job opportunities

We also advance development by combining OJT

multiple initiatives aimed at harnessing andconcept, we fixed three employee

an organization-wide "Career Web System" thatcollaboration and co-creation beyond company

Based on this concept, we have developed

Expectations for employees

To realize our "CO-EN (Park/Co-Encounter)"(Japanese Only)39

04 Our Impact﻿

Human Capital Management at Staffing SBU

Employee Engagement Activities
for People-First Management

Rob Zandbergen
Executive Vice President of
Recruit Holdings
Head of Staffing Business, CEO,RGF Staffing B.V.

Emma Northway
Global HR Director at
RGF Staffing B.V.

Staffing SBU has implemented engagement surveys atmajor subsidiaries to monitor employee engagement andcontinuously improve its organizational culture. These surveys
serve as fixed points for assessing employee engagement
and facilitate a cycle of continuous improvement. Results are

At Staffing SBU, we operate a people business whose success

Placing great emphasis on diversity within our decision-making

rests on the talents, commitment and interaction of colleagues

boards is a key initiative to creating an inclusive community. To

around the world. That is why we envision a place whereensure diversity, Staffing SBU has implemented a succession

individuals can focus on what really matters. The more people

planning process for key positions that ensures there is a diverse

wellbeing across the businesses.

are free to pursue their passions, the better our future becomes.

candidate pool before discussing hiring and internal promotions.

For example, Staffmark Group, an operation company of

We also pursue initiatives to increase the number of people

Staffing SBU, is committed to transparent communication with

To realize such a workplace, we give light to the importance ofinclusion within our businesses and wellbeing in the workplace(Learn more about Straffing SBU's business).

who are happy at work. We are in the process of establishing astandard for measuring and improving happiness at work. This

shared with all employees, and managers work with HR to build
robust action plans to drive improvements in engagement andemployees. Stacey Lane, the CEO of Staffmark Group, believes
that honest and transparent communication is the cornerstoneof any company’s success. She hosts monthly company-

We embrace inclusion within our businesses, aiming for all

standard is reflected in both words and clear action aimed atpeople to feel welcomed and supported within the SBU. We

getting everyone work-happy. We will achieve this by giving

focus on developing robust and targeted inclusion and equity

our people a sense of purpose through the freedom to explore,

initiatives, including employee education, reflection and learning

innovate, and inspire.

instituted live Q&A calls where employees have open access to

We continue to future-proof our business by making use ofand constructive dialogue.

across operating companies of the SBU, and establishingprinciples based on successful cases of inclusion practices.

technology with the “Touch through Tech” approach, withand for our people. For example, we are using the power ofdigitization and data to analyze data of our inclusion and workhappiness initiatives, and build superior experiences for our
employees, candidates and business clients. This approachleverages journeys and tooling that enhances every step ofwide all-hands calls to ensure that everyone is up-to-date oncompany goals, strategies, results, and challenges. She has also
ask questions of the company’s leadership to provide a healthy

People-centric communication by leadership fosters a sharedsense of purpose and enables each of the operating companies
to identify and address issues proactively, collaborate more
effectively. This empowers employees to make informed
decisions and meaningful contributions.

the experience. Essentially, we are all about engaging andconnecting people through personalized interactions.
To accommodate region- and industry-specific needs of job
seekers and business clients, Staffing SBU continues to strive tobe efficient and responsible in decision-making and operation.

R EC RUIT G ROUP P RO F I L E 20 2 3 I N S I D E O UT40

04 Our Impact

Initiative to Promote Work Wellbeing
Indeed’s study shows that employees thrive when they havehigh work wellbeing*1. As a result, Indeed has been exploringand increasing awareness on the importance of workplace
wellbeing as an indicator contributing to attracting,developing, and retaining talent and building a better
workplace culture and society.

What is the Work Wellbeing Score?
Indeed’s Work Wellbeing Score is based on survey

The methodology was developed by Indeed with the

responses of more than 20 million Indeed users. It measures

guidance of leading experts, such as Dr. Jan-Emmanueland calculates the average of the four key indicators of

De Neve from the University of Oxford and Dr. Sonja

work wellbeing: happiness, purpose, satisfaction, andLyubomirsky from the University of California, Riverside. It isstress. Indeed also measures and displays key drivers thatcurrently the largest study of work wellbeing in the world.

lead to wellbeing at work: accomplishment, appreciation,

Read US Work Wellbeing 2023 Reportbelonging, compensation, energy, flexibility, inclusion,
learning, support, trust, and being well-managed.

LaFawn Davis
Senior Vice President of Environmental,
Social & Governance, Indeed“The future of work conversation cannot happen without
employee wellbeing at the center of it.”Janeane Tolomeo
Corporate Marketing Director,
Work Wellbeing Initiative Lead,
IndeedJan-Emmanuel De Neve
University of Oxford Saïd Business
School Lead
Quantifying Workplace Wellbeing as a
Human Capital Indicator with Indeed

companies. In addition, I myself and Recruit Holdings and

The primary impact of the Work Wellbeing Score is its ability

Foundation, aiming to explore the potential utilization of

to quantify what was previously challenging to measure —wellbeing in the workplace. And it has made cross-company“How we feel at work impacts how we perform there, and company

comparisons possible for the first time. This achievement

success as a whole. That is why Indeed is committed to bringing

was made possible by Indeed, the world's leading job site

awareness to workplace wellbeing, and our research has taken us

with over 350 million unique users each month . Indeed's

on a significant journey of discovery and learning. We are proud

data has demonstrated the correlation between workplace

to share the strength and benefit of the Work Wellbeing Score to

wellbeing and a company's financial performance, and its

individuals, businesses, and society.”

predictive value for stock prices*3. Furthermore, it has been

*1 A state of having high happiness, purpose, satisfaction and manageable stress levels at work." Work
Wellbeing Report, based on a commissioned survey (n=4,002 US adults), conducted by Forrester
Consulting, 2023.
*2 Internal data, an average of each month’s total of distinct cookie IDs visiting Indeed’s site between
April - September 2023.
*3 From De Neve, J-E., Kaats, M., and Ward, G. (2023) Employee Wellbeing and Firm Performance.
University of Oxford Wellbeing Research Centre Working Paper 2304. Prepared for Indeed.

R EC RUIT G ROUP P RO F I L E 20 2 3 I N S I D E O UT

*2proven that wellbeing is linked to three crucial factors:
individual performance improvement, external talentIndeed have submitted comment letters to the International
Sustainability Standards Board (ISSB) under the IFRS
these indicators as human capital metrics for investors andcompanies in the future. In a world with a growing demandfor quantifiable and comparable human capital metrics, wehope that the Work Wellbeing Score, which quantifies thepreviously elusive mental and physical states of employees,
will receive the attention it deserves.
Currently, no other indicator worldwide is as reliable,
comprehensive, and extensive as Indeed's Work Wellbeing
Score, and improving workplaces, where everyone spends aacquisition, and reduced turnover rates.

significant portion of their lives, can positively impact society.

Indeed's four indicators used for Work Wellbeing are also

HR matching business, can be a trailblazer in workplace

incorporated in S&P Global's ESG rating, the Corporate
Sustainability Assessment (CSA) questionnaire for

I have confidence that Recruit Group, as a leader in the global
wellbeing to steer the world in a positive direction.
Read the full interview

41

04 Our Impact

Our Commitment to Corporate GovernanceImproving Our Board Diversity

Directors of the Board and Audit & Supervisory Board members*3

Women's representation in the members of theBoard of Directors’ meeting
Reach gender parity among the members of the Board of Directors andAudit & Supervisory Board by 2030*1, 2

20%
2021

50%
2030

Progress in FY2022
After receiving approval at the June 2023 Annual General Shareholders

Why Stitch Fix Founder Katrina Lake Joined Recruit Holdings

Meeting, Katrina Lake was appointed as a new member of the Board of
Directors. Katrina's inclusion has increased women's representation on
the Board from approximately 27% to approximately 33%. As we move
forward, we are committed to enhancing the transparency and integrityof management and will actively promote initiatives to increase ourboard diversity to ensure higher-quality decision-making.

I see my role as an

Entrepreneurship, which I have always valued myself,

independent director

has been part of Recruit Group’s corporate culture since

at Recruit Holdings as

its founding, and I believe that it is the key to its long-a great opportunity toterm growth. As an entrepreneur, I have always valued

utilize my experience

the idea of betting on my passion, even if it sometimes

running technology

means taking risks. I sense that same spirit in people atcompanies in the U.S.,

Recruit Group, and I believe the company will continue

while also taking on

to transform and grow for many decades to come by

new challenges to match my curiosity to learn corporate
governance from a long-term perspective.

I look forward to contributing to this growth by fully

Recruit Holdings is a unique company that has

utilizing my experience as a CEO, entrepreneur and mysuccessfully transformed its businesses several times

knowledge of technology businesses that leverage AI

over the past 60 years since its founding, based on

and data science.

a corporate culture that bets on the passion of each
employee and fosters "entrepreneurship." Now thecompany has become a global company operating in
more than 60 countries. I was also attracted by the

R EC RUIT G ROUP P RO F I L E 20 2 3 I N S I D E O UT

staying true to this time-tested philosophy.

Read Katrina’s full story*1 The years indicated are Recruit Holdings’ fiscal years, which begin on April 1 andend on March 31 of the following year. All figures displayed here are approximate.

opportunity to be involved in the governance of such a*2 The Board of Directors members are defined as directors of the Board and Audit &Supervisory Board members.

unique company.

*3 The information is based on the Board of Directors membership as of July 2023.

42

04 Our Impact﻿Our Commitment to the Environment

GHG Emissions Breakdown
Scope 3 emissions within the value

Scope 1

< 95%

Scope 2

Scope 3Emissionschain account for over 95% of Recruit
Group's GHG emissions. Consequently,
to achieve carbon neutrality throughout
the entire value chain (Scope 3), Recruit
Group is strengthening collaborations

Scope 3

FY2021

with partners while also working to
reduce emissions from its operational
activities (Scopes 1 + 2).

Become carbon neutral throughout ourbusiness activities by 2021 and our entire
value chain by 2030*1, 2
Recruit Group considers climate change one of the pivotal environmental
issues of our times. To ensure the longevity of our planet, we are focusingmuch of our energy on minimizing its impact.

968K
2019

CarbonNeutral
2030

Set a three-year target to achieve carbon neutrality
throughout our entire value chain*3
To accelerate our efforts to become carbon

with the science-based 1.5°C pathway*5, an

neutral in GHG emissions throughout ourinternational framework that aims to limit theentire value chain (Scopes 1, 2 and 3), we haveincrease in global average temperature to lessset a three-year reduction target*4 that aligns

than 1.5°C above that of the pre-industrial era.

Scopes 1 + 2

Scope 3

*1 The years indicated are Recruit Holdings fiscal years, which begin on April 1 and end on March 31 of thefollowing year. All figures displayed here are approximate.
*2 Carbon neutrality includes reducing greenhouse gas (GHG) emissions as well as offsetting the remaining
emissions. GHG emissions throughout business activities are the sum of direct emissions from owned orcontrolled sources (Scope 1) and indirect emissions from the use of purchased electricity, heat, or steam in
owned or controlled sources (Scope 2). GHG emissions from the value chain are indirect emissions other than
Scopes 1 and 2 (Scope 3). The entire value chain represents the total of Scopes 1, 2 and 3.
*3 GHG emissions from the value chain are indirect emissions other than Scopes 1 and 2 (Scope 3). The entire
value chain represents the total of Scopes 1, 2 and 3.
*4 The GHG emission reduction target is based on the results from FY2022 to FY2024.
*5 The GHG emission reduction target established in line with the science-based decarbonizing level oflimiting global temperature rise to 1.5˚C compared to the temperature before the Industrial Revolution, which
was reported by the Intergovernmental Panel on Climate Change (IPCC).

R EC RUIT G ROUP P RO F I L E 20 2 3 I N S I D E O UT43

04 Our Impact

Our Commitment to the Environment

Progress in FY2022
Achieved carbon neutrality throughout our business activities*2

Realizing a genuine commitment to achieving carbon neutrality

Just as we did in FY2021, we anticipate

Additionally, we are intensifying ourTo achieve carbon neutrality, we are

In the process of choosing carbon credits,achieving our short-term goal of reachingpartnership with other companies toadvancing the transition to energy-efficient

our goal is to utilize credits acknowledged bycarbon neutrality throughout our businessachieve greater reductions in GHG

and renewable power sources. However, forinternational credit certification organizations.

activities (Scopes 1 and 2) in FY2022

emissions. Concerning Scopes 1 and 2, weoffices that cannot save enough energy or

These credits may include nature-based carbon(scheduled to obtain an accredited third-

are in ongoing talks with property owners

switch to renewable energy power plans, weremoval credits that support the achievement

party assurance on the amount by January

to shift towards renewable energy sources.

use Renewable Energy Attribute Certificates*6of the SDGs and exhibit a strong dedication to2024)*2, 3, especially by switching the office

In the case of Scope 3, we are dedicatedwhich satisfy the strict criteria of RE100*7. Even

the global environment. Furthermore, starting

power to a more energy saving source orto refining the accuracy of GHG emissions

after that, if there are any residual emissions ofin 2023, we are making efforts to utilize credits

renewable energy.

measurements among our network ofenergy sources other than electricity, we usethat align with the Core Carbon Principles

supplier companies.

removal credits.

(CCP)*8 set forth by the Integrity Council for the
Voluntary Carbon Market.

Our GHG reduction target has been validated by SBTi*4
Our GHG reduction target has beenvalidated by SBTi (Science BasedNature Impact Assessment for Protecting Biodiversity

Targets initiative) as a "Near-term

In collaboration with external organizations,from forests that adhere to sustainable

Recruit Group engages in impact

management standards certified by the FSC*9

assessments, with a primary focus on ouror PEFC*10.

information magazine business. This segment

We have also established that various othertargets to 1.5°C* .
5

Learn more about SBTi certificationof our operations is recognized for its
substantial reliance and impact on the natural*1 The years indicated are Recruit Holdings’ fiscal years, which begin on April
1 and end on March 31 of the following year. All figures displayed here areapproximate.

*5 This is a short-term target defined by the Science Based Targets initiative(SBTi) and established in line with the science-based GHG emission reductionlevels required to limit global warming to 1.5°C above pre-industrial levels.

*2 Carbon neutrality includes reducing greenhouse gas (GHG) emissions
as well as offsetting the remaining emissions. GHG emissions throughout
business activities are the sum of direct emissions from owned or controlled
sources (Scope 1) and indirect emissions from the use of purchased
electricity, heat, or steam in owned or controlled sources (Scope 2).

*6 Renewable Energy Attribute Certificates represent electricity generated
and delivered to the grid from a renewable source. They comply with theGreenhouse Gas Protocol which establishes global standards to measure andmanage emissions.

*3 All GHG emission figures are approximate numbers calculated based on
the GHG Protocol. Additionally, independent third-party assurances havebeen obtained from SOCOTEC Certification Japan for GHG emissions andavoided GHG emissions.
*4 The Science Based Target initiative (SBTi) is a joint initiative by WWF, CDP(former Carbon Disclosure Project), World Resources Institute (WRI), andthe United Nations Global Compact. SBTi is encouraging companies to set
reduction targets consistent with scientific knowledge in order to achieve
1.5˚C Pathway.

R EC RUIT G ROUP P RO F I L E 20 2 3 I N S I D E O UT

*7 Referenced the RE100 TECHNICAL CRITERIA Version 3.0*8 A global benchmark for high-integrity carbon credits that create real,verifiable climate impact, based on the latest science and best practice.
*9 FSC stands for “Forest Stewardship Council.” It is an international non-profit
organization established to promote responsible forest management. It
provides FSC-certified forest certification to organizations involved in the useof forests and the manufacture of secondary wood products.
*10 PEFC stands for ”Programme for the Endorsement of Forest Certification.”
It is an international non-profit, non-governmental global alliance which
manages national forest certification systems around the world.

environment and biodiversity.

phases in the value chain of the information
magazine business, such as paper production,
printing, distribution, and waste/recycling,Consequently, we undertook an evaluation

have lower environmental dependencies andwithin the value chain of this business, andimpacts. We are actively considering specificidentified that more than 90% of our raw

measures to mitigate these impacts further.

materials involved in paper pulp — which
exhibits the most significant environmental
dependency — are sourced exclusively

44

04 Our Impact

Reducing GHG emissions throughout our business activities (Scopes 1+2)
Each company under the Recruit Group umbrella is taking actions towards the absolute reduction of its GHG emissions.

Working towards 100% renewableenergy to power office buildings

New eco-friendly headquarters unveiled

Making sustainable a new standard
for offices

We are shifting towards renewable energy power at our

In August 2023, Indeed celebrated the grand opening of its new

RGF Staffing, our Group company providing HR and staffing

offices as a way to reduce GHG emissions resulting fromheadquarters, Indeed Tower, in Austin, Texas, USA. Embodying

services around the world, is implementing energy efficiency

our business activities. The switch to renewable power isthe company's ESG commitments, the building is a central

measures to reduce GHG emissions at its offices in different

progressing smoothly at 10 of our major Japanese offices,

hub for fostering a positive impact on society. Construction

countries and is targeting more sustainable office operations.

including at our GranTokyo South Tower headquarters, Osakaof the building encompassed environmental concerns andUmeda Twin Towers North, and Kudanzakaue KS Building in

the wellbeing of employees. The building, as a testament toTokyo.

this, has targeted LEED Gold certification*1. The core and shell

To make a significant impact on this, the understanding andcooperation of building owners are essential. Recruit works
closely with its building owners by sharing our goals andhave achieved the highest LEED Platinum certification, with the

RGF Staffing APEJ has reduced its office size by enabling hybrid
working, contributing to a reduction in GHG emissions.

interior build-out

Europeof Indeed’s space progressing toward a Gold rating.

Various initiatives are underway at key locations in each country.

commitment to climate change countermeasures and helping

Environmental and human health impacts were considered at

to foster greater understanding about the importance ofevery stage from the conceptualization to occupancy. Access torenewable energy by having open discussions and working

quality transit, availability of bicycle facilities, water efficiency,

hard to build a culture of trust and cooperation.

advanced energy metering, enhanced refrigerant management,
use of VOC products and recycled materials, product life-cycle
assessments and indoor air quality were all factored in.

R EC RUIT G ROUP P RO F I L E 20 2 3 I N S I D E O UT

Asia-Pacific*1 A certification program developed and administered by the U.S. Green Building Council(USGBC). It is a globally recognized symbol of sustainability achievement.

RGF Staffing Germany’s offices are almost entirely powered byrenewable energy, and at RGF Staffing Belgium LED lighting andmotion detector light switches are becoming the standard. RGF
Staffing the Netherlands has created a system for selecting energyefficient spaces when choosing a new office location and is also
testing new energy-saving technologies at one branch, with a viewto rolling out the technology across all branches if found to beeffective.

45

04 Our Impact

Reducing GHG emissions throughout the value chain (Scope 3)
To reduce Scope 3 GHG emissions, which
account for more than 95% of Recruit Group's
overall emissions, we are strengthening
collaborations with partners in the value chain.

Employee transportation — a hybrid approachfor sustainable impact
The Scope 3 emissions of our staffing businesses can be primarily attributed
to the commute and travel of our people, including employees and placed
workers. Scope 3 emissions are considered those beyond the value
chain, and Recruit Group is addressing them as part of its environmental

Collaborating with partners to boost the speed andreliability of GHG emissions measurement and reduction

responsibility to become an industry leader in reduction efforts.
As a start, to accurately assess the GHG emissions from commutes, wehave started measuring them by confirming the distances and modes

Matching & Solutions SBU’s Recruit is approaching Scopeto raise awareness. Meanwhile, our Staffing SBU is3 GHG emission reduction collaboratively by focusing on

conducting an analysis to identify the primary sources ofrefining emission measurements with partner companies,

emissions related to temporary employees' transportation

including NTT DATA Corporation and Japan Airlines Co.,

to reduce emissions from commuting and travel. It is

Ltd. By understanding our Scope 3 emissions in greater

also preparing for discussions with public transportation

detail, we can consider more effective and specificsystems, such as railroads, to explore the possibility of

Meanwhile, in the Netherlands, our RGF Staffing team plans to shift its

measures to reduce them.

transitioning to lower GHG emission energy sources. SBUs

corporate fleet to electric by 2027, and Staff Service Holdings and Recruit

are also actively working together to foster partnerships

Staffing in Japan have also declared they will switch their sales fleet towith companies that are shared across multiple SBUs.

electric or hybrid vehicles by 2030.

These initiatives are extending to other SBUs. For example,
Indeed, a part of our HR Technology SBU, has initiatedcollaborations with six partner companies and is exploring

This collaborative, cross-group structure is driving

strategies to minimize GHG emissions. Discussions arecollective efforts to reduce GHG emissions.

also underway regarding partner training programs

Selected as CDP’s Supplier Engagement Leader for two consecutive years
In recognition of our collaboration with partners to
reduce Scope 3 emissions, the Company was rated asa top company on CDP's*1 2022 Supplier Engagement
Rating (SER).

Learn more about CDP Supplier
Engagement Leader

R EC RUIT G ROUP P RO F I L E 20 2 3 I N S I D E O UT

*1 CDP is a British charity-controlled non-governmentalorganization (NGO) established in 2000. It owns one of
the world's largest environmental databases, working
with large global financial institutions to disclose theenvironmental impact of companies.
*2 The amount of GHG emissions avoided throughIndeed Hiring Platform is more than approximately
13,000t-CO2, a contribution beyond the Group's value
chain mitigation, so it is not included in the calculation of
the Group's Scope 1, Scope 2 or Scope 3 GHG emissions.
*3 Sample figures based on the results of converting theamount of GHG emissions avoided; using Greenhouse
Gas Equivalencies Calculator of United States
Environmental Protection Agency available at https://www.epa.gov/energy/greenhouse-gas-equivalenciescalculator#results.

of transportation from each placed worker's home to their workplace.
Furthermore, when introducing job opportunities, we propose placements
as close as possible to the staff's residences within their preferred job
categories.

Avoidance of GHG Emissions
through Our Products
As one of our efforts to address
climate change beyond our own
value chain, we have contributed
to the avoidance of GHG emissions
by reducing transportation
associated with job interviews
through Indeed Hiring Platform, a product that allows job interviews to
be completed virtually*2. The estimated amount of GHG emissions that
could be avoided in FY2021 through the product is equivalent to the dailycharging capacity of more than 15 billion smartphones*3.
46

04 Our Impact﻿

Human Rights Policy to Address Issues of Each SBU

At Recruit Group, we pledge to respect human rights, which is oneof the material foundations of our corporate activities. The Recruit
Group Human Rights Policy is based on the three pillars – "Protect,""Respect," and "Remedy" – which is outlined in the United Nations
Guiding Principles (UNGPs) on Business and Human Rights. By operatingin accordance with our human rights policy and striving to respect
the rights of people, we believe we can achieve our basic principle ofrealizing a world where all individuals can live freely and to the fullest.

Human Rights Due Diligence
To promote human rights in its business operations,mitigating measures upon identifying risks of human

Recruit Group has set up specialized teams in all SBUsrights. Below are the prominent human rights risks andto perform human rights due diligence across the entire

each SBU's corresponding risk mitigation measures.

value chain. The company considers preventive and
SBU

Key Human Rights Risks

Risk Mitigation Measures
Released AI Principles in July 2023 to publicly communicate Indeedʼs approach to

In addition to the Recruit Group Human Rights Policy, each SBU develops

Right to non-discrimination

detailed principles and policies related to their operations.

AI use. In August, the Responsible AI team also developed a Responsible AI PreDeploy Bias Evaluator tool and commenced employee AI training.

HR Technology SBU(Indeed)Indeed has a dedicated Anti-Human Trafficking Team (AHTT) that works to identify

Right to freedom
from slavery

Right to effective
remediation

and remove content with indicators of trafficking and child exploitation. In 2023,
the AHTT implemented the "Trafficking Analysis Hub," an anti-trafficking tool. The
Human Rights team began building a supply chain due diligence process in 2023.
The instigation of a detailed review of existing grievance mechanisms, a key process
for remediation efforts, and establishment of new ones in line with UN Guiding
Principles on Business and Human Rights (UNGPs), is planned in a coming phase.

Right to reasonable
working hours
The implementation of human rights training for employees, and, in 2023,

Matching & Solutions SBU(Recruit)

Right to be free fromharassment

disclosure of the Supplier Code of Conduct (Japanese only) to secure agreementfrom our suppliers and mitigate risks. We introduced a contract clauseemphasizing compliance with our Supplier Code of Conduct. Additionally, we
extended human rights education to our clients.

Right to privacy

Staffing SBU

Right to non-discrimination

Mystery calls to verify business clients' rejection of discriminatory requests andRight to privacy

Our employees undergo regular training to protect against data breaches, remain

Right to good & safe
working conditions

R EC RUIT G ROUP P RO F I L E 20 2 3 I N S I D E O UTestablishment of whistleblower hotlines for all internal employees and temps.

aware of developing technologies and possible threats.
Creation of a supplier code of conduct closely aligned to the UNGPs, regularly
working with client companies on working conditions, and conducting annual
engagement surveys for internal employees.

47

04 Our Impact

Foundation of Our Impact Creation

Sustainability Transformation
Sustainability Management
Recruit Group seeks to make a positive impact on society and the planet through corporate activities
that allow us to prosper together with all of our stakeholders. Through stronger stakeholder engagement,
we can identify opportunities for contribution and pinpoint risks for mitigation. We have also built amanagement system where all our corporate activities are driven by our sustainability policy.

Sustainability Issue Management Cycle

Sustainability Governance Structure

Recruit Group's "Sustainability Orbit" iswithin the Sustainability Committee, theThe Sustainability Committee, an advisory

are integrated into the Group's overall riska framework for engaging with various

Recruit Holdings' Board of Directors (BoD)

body to the BoD, works with internalmanagement process and then centrally andstakeholders to identify notable sustainability

determines the appropriate course of action

management and external experts to assess

comprehensively evaluated and managed byrisks and opportunities. Following discussions

and executes specific sustainability initiatives.

sustainability-related risks and opportunities

the Risk Management Committee. The BoD

and develop the necessary systems to address

oversees the activities of both committees.

key issues. When risks are identified, they
Recruit Group Sustainability
Policy and Action Guidelines

Our Commitment to Sustainability

E S S G

Environment
Recruit Holdings
Submission
Sustainability
Committee

Board of Directors

Social Impact

Our People

Propose & Report(Twice a year)

GovernanceMonitor &Oversight

Propose & Report(Twice a year)

Monitor &Oversight

Our Contribution to the SDGs
Board ofDirectors

Decision-making
and formulating
overall action plans
Sustainability Transformation Department

HR Technology
SBU

Sustainability Committee

Matching &Solutions SBU(Twice a year)

Staffing
SBU

Propose & Report

Risk Management Committee(Twice a year)

Collaborate

AdvicePropose & Report

AdviceA brighter world where all individuals
can live life to the fullest

Participation in international conferences

Department in chargeof Sustainability

Collaborate

Department in chargeof Risk Management

Communication with employees

Stakeholders
Dialogues with stakeholders•

Employees•

Local communities•

Individual users•

NGOs, NPOs•

Business clients•

National and local•

Business partners•

Shareholders

governments

Act & Report

Learn more about
the Orbit

R EC RUIT G ROUP P RO F I L E 20 2 3 I N S I D E O UTHR Technology
SBU

Matching &Solutions SBU

Staffing SBU

Learn more about our Sustainability
Governance Structure48Creating a Sustainable Tomorrow for All

04 Our Impact﻿

Recruit Group contributes to accelerating progress in achieving theUnited Nations’ Sustainable Development Goals (SDGs) throughout all our
corporate activities in the global effort toward creating a better futureand social and economic inclusion for all to

Recruit Group’s vision is “Follow Your Heart.”

job matching to make it faster and simpler.

on the ideas and passions generated by the

We envision a world where individuals andHowever, there is so much more we can dobusinesses can focus on what really mattersto actualize our vision. By bringing together— the idea that when more people are free tothe data, technology and expertise of Recruit

pursue their passions, we can achieve a betterGroup, we will foster innovation to develop afuture. The preamble to the SDGs declares that

quality, inclusive, and equitable job matching

no one should be left behind in the pursuit of ainfrastructure for all (Goal 9).

have established and will continue to promote

As a start, Recruit Group is committed toof focus across our Group. While we celebrate

society in which all people can pursue greater
freedom. We believe that the greater freedom
described here is exactly what we envision: afuture in which we can choose our own way oflife from a variety of options.

improving job-matching efficiency and reducing
the time it takes for job seekers to get a job byhalf by FY2030* ³. At the same time, we are1,committed to taking additional steps to support
job seekers from vulnerable and marginalized

has been dedicated to democratizing job

communities who face systemic barriers*

opportunities through our information platforms.

and cannot be helped through improved

According to the OECD, approximately 40% ofmatching efficiency alone. We intend to help

people are likely to fall into poverty if they areminimize these barriers through technology

without income for three months*². We realize

and partnerships, which will further shorten thethat we must take action decisively for the better

time it takes to get hired. Through these efforts,

through our business activities, primarily by

we will focus on promoting decent work for all

helping individuals find jobs that help them earn

(Goal 8) and creating a future where getting atheir living.

job is as simple and easy as the push of a button.

accessibility to the labor market and transforming

Since its founding, Recruit Group has bet
curiosity of its diverse employees, creating new
businesses and services that celebrate andrecognize our differences. Our management
team is determined to reiterate the importanceof maximizing employees’ motivation. We
diversity, equity and inclusion (DEI) as an area

Since its founding in 1960, Recruit GroupWe have long been working toward broadening

reduce inequality (Goal 10).

4

all aspects of DEI, we are currently focused on,
and committed to, addressing gender disparities
within our Group, and aim to have approximately
50% of employees, managers, senior executives,and members of the Board of Directors be
women by FY2030*5 (Goal 5). We also aim torespect and protect the human rights of all
people through all our corporate activities.
To support the longevity of our planet, Recruit
Group is committed to protecting the healthof our environment. We are determined toaccelerate “Climate Action” (Goal 13) bybecoming carbon neutral throughout our entire

When job seekers can quickly find the right job

value chain by FY2030.*6

for themselves, it will help us end poverty in all

In pursuit of our commitment to sustainability,

its forms (Goal 1) and promote equal opportunity

Recruit Group will continue to prosper together*1 The years indicated are Recruit Holdings fiscal years, which begin
on April 1 and end on March 31 of the following year. All figures
displayed here are approximate.
*2 The figure is based on data from 28 countries sourced by OECD’s
report “How’s Life? 2020.“*3 Average estimated duration it takes for people who get hired
through the Indeed online job-search platform after they started toapply to a job on the platform, calculated by available data.
*4 Our initiatives support racial and ethnic minority groups, people
without higher education, people facing barriers due to age bias,
and people with disabilities. Recruit Group may also focus on
overturning other various barriers, including newly emerging issues
in the labor market, by FY2030. At present, the initiative includes
assistance through the Indeed online job- search platform as well as
through partnerships with organizations such as Goodwill Industries
International and Shaw Trust with whom Indeed collaborates.
*5 Senior executive roles are defined as Corporate Executive Officers
and Corporate Professional Officers of Recruit Holdings and Matching& Solutions Strategic Business Unit (SBU), as well as CEOs of Recruit
Group’s major subsidiaries and heads of key functions in the HR
Technology and Staffing SBUs. Figures for managerial positions andemployees are calculated from Recruit Holdings, SBU Headquarters,
and the primary operating companies of each SBU. “Managerial
positions“ refers to all of those that have subordinates, except forsenior executive positions.
*6 The sum of direct emissions from the use of fuels in owned orcontrolled sources and are referred to as Scope 1. Indirect emissions
from the use of purchased electricity, heat, or steam in owned
or controlled sources are referred to as Scope 2. GHG emissions
from the value chain are referred to as Scope 3, and comprise
indirect emissions other than Scope 1 and 2. The entire value
chain represents the sum of Scopes 1, 2 and 3 GHG emissions. The
Company aims to achieve carbon neutrality upon completion of
the following steps: measurement of GHG emissions, obtaining an
accredited third-party assurance on the amount of GHG emissions,and offsetting of those emissions.

with all stakeholders to realize a brighter, moresustainable world where all individuals can live
their lives to the fullest — and contribute toachieving the future envisioned by the SDGs.
R EC RUIT G ROUP P RO F I L E 20 2 3 I N S I D E O UT

49

05

ESG Data Book
The "ESG Data Book" is a comprehensive guide to
Recruit Group’s environmental, social and gover-

Reports Hub

category for easier reference and produced for

For further information on Recruit Holdings'
ESG-related activities, please refer to thereports linked to the right.

Annual Report FY2022

nance (ESG) data and activities. It is organized by
the benefit of our stakeholders with a great interest in ESG investment.

(Translated from “Yukashouken Houkokusho“)This document lists Recruit Holding’s annual
financial results for FY2022 alongside the company’s
ESG initiative progress and TCFD disclosures.

Financial Results andRegulatory Disclosure

R EC RUIT G ROUP P RO F I L E 20 2 3 I N S I D E O UTEditor's Postscript

About Recruit Group Profile:
Inside Out
Most of the articles in this report are based on stories
first featured on our corporate website and corporate
blog “Inside Out,” which portrays our journey towardachieving the Group's mission: "Opportunities for Life.
Faster, simpler, and closer to you." The "Inside Out" blog
illustrates how our internal corporate activities (Inside) are
expanding beyond Recruit Group and impacting people
worldwide (Outside), and the Recruit Group Profile aims
to provide a comprehensive annual summary of these
activities in an easy-to-digest format, meeting the needsof our diverse stakeholders. Financial and non-financial
information that is mainly of interest to capital market
stakeholders — such as our business performance,business strategy, governance, risks, etc, — is available in
our Annual Report, and we would encourage stakeholders
to read that in conjunction with this publication.
This year's edition incorporates a number of updates,
including progress reports on our three long-term
management strategies, and covers a wide range ofinitiatives from each SBU, including strategies andmeasures to strengthen "human capital," one of ourmaterial foundations. We have also worked to update thedesign and structure to make the report more accessible
for a more diverse readership, taking into account the
WCAG guidelines*1.
To keep up to date on our activities, please visit our
corporate website and blog, and follow us on our official
LinkedIn account for our latest featured topics.
Recruit Group Profile: "Inside Out" Editorial Team
December 2023

Follow us on LinkedIn to get
the latest information about
Recruit Group*1 Abbreviation for Web Content Accessibility Guidelines (WCAG)
is an international standard that explains how to make web content
more accessible to people with disabilities.

R EC RUIT G ROUP P RO F I L E 20 2 3 I N S I D E O UT

Editorial team's favorites
In the spirit of embracing innovation, the illustrations featured in this year's Recruit Group
Profile and the editorial team’s portraits were created using AI.

YumikoHikaru

Yuko

Pages introducing our Groupʼshuman capital management
initiatives. There are many great
initiatives that we reluctantly had
to give up including in this report.

We increased the volume of pages
introducing our DEI initiatives thisyear. We hope you can feel thepassion of Recruit Group has for amore equitable society!

The message from Professor JanEmmanuel De Neve of Oxford University.
Itʼs our pleasure to be able to convey theprofessor's passion and expectations for
Recruit Group that we felt in the interview!

JosephMizuhoShoko

Reading about Katrina Lake joining
the Board truly shows Recruit
Groupʼs ongoing commitment todiversity at all levels ̶ bravo!

It was impressive to see how successin ESG activities is tied to reputation.

Recruit Group's efforts to promote
DEI. Itʼs great to read about theirproactivity to realize a diverse andinclusive workplace.

JeremyPascalIndeedʼs Work Wellbeing Score
could be a game-changer for the
recruitment industry.

I love how this year’s profile was
packed with so much information.

Notes on the contents
While preparing this publication, we have assumed
the accuracy and completeness of the information
available to us (including information prepared by third
parties). However, we can make no representations
or warranties, expressed or implied, as to its actual
accuracy or completeness.
Although this publication contains statements about
the future, actual results may differ materially as a resultof various risks and uncertainties. We are under noobligation to update or revise any information in thispublication based on future events.

Report period
This report has been prepared for general information
purposes only. Neither this report nor its contents may
be published or used for any purpose by any third party
without our prior written consent.

Recruit Group Profile 2023: Inside Out covers theperiod between April 1, 2022, and March 31, 2023.
Some references are made to dates before andafter this period.

Version 1.4 Published July 2024
Contact Recruit Holdings via our website

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