IR‐DAY
Presentation Materials
Career SBU
Day1
2024.7.2

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Excerpts from the "Mid-Term Management
Plan 2026" announced in May 2023

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Positions of businesses and management policy
The position of each business and management policy are as follows. In particular, under this Mid-term Management
Plan, we position Career, BPO, and Technology as the domains of focus and invest proactively in them.
The Group‘s foundation
Continue to be the foundation of theGroup's growth.

Pillars of profit growth
Proactive business investments, for thesake of significant profit growth in themedium to long term

Staffing– Contribute to the Group's growth by strengthening relations with customers.

CareerBPO

Technology

Reinforce the foundations
for a breakthrough.

APAC

Improve earnings to enable largescale investment for growth in FY2025 and beyond.

Investments toward thefutureImplement R&D after achieving an
investment quota at a certain level.

– Aim to achieve growth by increasing market share despite the possibility of a shrinking the clerical andadministrative staffing market over the long term.

R&D– Aim to achieve growth exceeding market growth while the career-change-related market continues toexpand.

– Continue to make investments that contribute to medium- to long-term businessgrowth and the acquisition of competitive advantages.
– Aim to achieve growth exceeding market growth by taking advantage of the customer base of temporary
staffing.

– Make large-scale investments, mainly to acquire the ability to achieve a business
transformation.
– Reinforce the foundations for large-scale recruitment and the development of high value-added humanresources and improve sales capabilities, in an attempt to increase billing rates.

– Continue large-scale recruitment to derive medium- to long-term competitive
advantages.

– Achieve earnings improvement at a level that will contribute to improving shareholder value.
– Invest in a quantitative expansion after improving earnings.

– Achieve an investment quota at a certain level to explore and create businesses related to Career Wellbeing.
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3

Towards 2030
Aim for value creation of 500,000 people by the final fiscal year of the current Mid-term Management Plan
(FY2025) and one million people by 2030.
Towards 2030
Current(FY22)
Gaol for value
creation⚫ 380,000（※1）⚫ Proactive use of technologies

Technologydriven HR
servicecompany

in some businesses (including
Career) ahead of others

Current Mid-termManagement Plan
(FY23-FY25)⚫ 500,000⚫ 700,000 - 800,000⚫ One million people (creating better work

⚫ Improving productivity in the⚫ Discontinuous productivity⚫ An HR service company that can achieve⚫ Increasing the number of work

⚫ Dramatically increasing the⚫ Establishing Career as a profit⚫ Establishing a more stable

Workforce Business, mainly
through digitalization

opportunities created in the
Digital Platform Business andimproving its contribution to
profit⚫ The degree of dependence on

Staffing is high in terms of
profit, and the businessportfolio needs to bestrengthened further.

Next Mid-termManagement Plan
(FY26-FY28)

2030
A “Career Well-being”
Creation Company

growth pillar which iscomparable to Staffing

opportunities)

improvement in Workforce
Business through DX

discontinuous growth with products anddigitalization while attaching importanceto the intervention value of people

number of work opportunities
created in the Digital Platform
Business and its contribution
to profit

business portfolio by
cultivating new profit growth
pillars in Japan⚫ An HR company with multiple mainstay

businesses and business models in Japanand APAC

APAC

Business
portfolio

BPO
Technology
CareerStaffing※1 temporally number and subject to change

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4

Overview ofCareer SBU

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Mission of Career SBU

PERSOLGroup
VisionWorking life is a journey of growth and creation.
We all have big dreams, and there are many different paths tosuccess.
Thus, we need to make our own choices from a range ofdiversified work opportunities.
Our vision is to enrich society so that all work leads to lives ofhappiness.

A “Career Well-being”
Creation Company
Expanding the possibilities of each individual
and the freedom of working, and increasing theWho we wantto behappiness for both individuals and society.

Mission of Career SBU

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Mission of Career SBU

Our mission is to give people the power to own their work-life.
Expressed in an easy-to-understand manner, it is to create a society
which fosters career ownership.
In other words, we aim to build a society in which working individuals
can make their own career and life-related choices.

If people can work in the ways they like, their level of well-being will
surely be higher.
This will eventually get them close to our Group vision: Work and Smile.

This is what we believe.

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Career SBU’s Structure•

Career SBU consists of a total of 4 companies. PERSOL CAREER is the core company, engaged
in the career change support and side job / freelancer support businesses.
SBU

Company nameBusiness

Brand

Placement business

PERSOL CAREER
Career

Career change
supportbusiness

Job recruitment
media
Direct recruiting

SBU

Side job / freelancer business3 group companies

Business of providing support for career
autonomyBusiness of providing employment support
for non-Japanese human resources
Offshore development business
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Management Members•

In 2023, the SBU reinforced its management team by adding new members with a wealth ofexperience related to operations, innovation, DX, and more.

Yu Senoo, Representative Director

Kyoko Kida, Board Member

After joining Intelligence (currently PERSOL CAREER), he served asa Board Member of PERSOL TEMPSTAFF and Representative Directorof PERSOL TECHNOLOGY STAFF.

After joining Intelligence (currently PERSOL CAREER), she served
as its executive officer, general manager of Career Change Media
Department, and head of Personnel Affairs Division.

Akira Iwata, Board Member

Yoshinobu Ishii, Board Member

He served as an executive officer and general manager of Placement
Business Department of Intelligence (currently PERSOL CAREER)
and a Board Member of PERSOL INNOVATION.

After joining PERSOL TEMPSTAFF, he served as its executive
officer and head of Sales Promotion Division, head of DX
Promotion Division, and a Board Member.
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Major Management Indicators (FY2023)••

High growth was achieved, with 23% YoY growth of revenue and with 24% YoY growth ofadjusted EBITDA.
The number of jobs available, which is a leading indicator, has remained strong. A temporary
halt is seen in the number of candidates who wish to change jobs.
Revenue

Adjusted EBITDA

128.3 billion yen

25.0 billion yen(YoY+23%)(YoY+24%)

Number of jobs
available*1

Number of candidates
who want to change job*2

Headcount in theplacement business*3

4.42 million

1.76 million people

2,355 people(YoY+27%)(YoY+7%)(YoY+23%)*1: Cumulative total for FY2023*2: Cumulative total for FY2023*3: Average for Q4 of FY2023
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Sales Breakdown in Career SBU•

71% for the placement business, 21% for job recruitment media, and 8% for others.

SBU

Company namePERSOL CAREER
CareerSBU

Composition of sales(FY2023)

Business

Career change
supportbusiness

Placement business71％

Job recruitment media

21％

Direct recruiting

Side job / freelancer business3 group companies

Business of providing support for career
autonomyBusiness of providing employment support
for non-Japanese human resources
Offshore development business8％

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11

Business Overview

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Basic Structure of the Career Change Business•

The basic structure of the career change business is represented as a ribbon chart.
Revenue is gained by matching companies looking to hire new employees with individuals
looking to change jobs.

Attracting

MovingConnecting

MovingAttracting

Companies
seeking
workersJob
seekers

RevenuePERSOL CAREER
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13

Target of Career SBU’s Main Services••

The main target of doda, job change service, is the majority group with annual income
range of 4 to 6 million yen.
Broadening the base to the high-class domain with new services, including doda X
Annual income band

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

Main Services
Placement
business

Job recruitment
media

Directrecruiting

Other

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

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

6 million yen

4,300,000

Volume zone
4 million yen

approx.80%(25,760,000)

2 million yen
Source: Calculated based on a market survey conducted by the Company in 2022

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Strength of PERSOL CAREER•PERSOL CAREER has concentrated its management resources on the market related to whitecollar human resources and deploys services with full coverage.
PERSOL CAREER

Competitor A

Competitor B

Competitor C

Placement

Whitecollar
workers

Career
Careerchangechangesupporsupporttbusinessbusiness

business
Job recruitment
media
Direct recruiting

Side
Side job
job // freelancer
freelancer

businessbusiness

Blue-collar workers, part-time workers

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Strength of PERSOL CAREER•

For both job seekers and companies seeking workers, we are able to provide the best option
to meet their needs from our multi-tiered career change and recruiting services.
PERSOL CAREER

Job seekers
Maximizing
employment
opportunities by
providing
career-change
Registering in a HR
methods
database/Applying for
appropriate for positions at companies
each
Job offers made directlybycompanies/headhunters

Community
Training/CoachingCompanies seeking workers

Applying directly to job
recruitment media

Giving job offers directly tojob seekers

Side job / freelance
Direct recruiting
Placement businessMaximizing
recruitment
opportunities
by using
multiple
recruitment
methods

Job offers made directly byother companies'
headhunters to job seekers
Recommended via
PERSOL's job placement
services

Job recruitment media

Optimal AI matchingbased on data andtechnologies
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Strength of PERSOL CAREER••

The company is ranked 1st in Japan in the number of visitors to job recruitment sites.
The company was ranked 1st for three consecutive years in the level of satisfaction amongpeople in their 20s as its main targets, who constitute the majority group.

Attracting

MovingConnecting

MovingAttractingJobseekers

Companies
seeking
workers

Oricon Customer Satisfaction Ranking

Ranking based on the number of visitors(2024/People in their 20s) *1

to the job recruitment site
(December 2023 - February 2024) *2

1st: doda Agent

1st: doda*1 Source: Prepared by the Company based on 2024 Oricon Kokyaku Manzoku-do Chosa Tenshoku Agent 20dai Bumon (2024 Oricon customer
satisfaction survey about job change agents for 20’s divison) from oricon ME inc.
*2 Source: Prepared by the Company based on Chuto Shain Muke Kyujin Site Homon-su (number of visits to job recruitment sites for mid-career
employees) from SimilarWeb.
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17

Structure of the Placement Business••We compare the conditions of employment offers from client companies with the desiredconditions of job seekers, and introduce job seekers to client companies.
Revenue is gained when a job seeker has joined a client company.

②

Job
seekers

③

⑤, ⑥

④
①
Companies
seeking
workers①

Job offer information is received from a client company.

②

A job seeker registers their information in the database.

③

After interviewing the job seeker, we introduce a job offering
which fulfills the desired conditions and check if the job
seeker will apply for it.

④

We introduce the job seeker to the client company.

⑤

The company interviews the job seeker.

⑥

After the client company's intention to employ the job seeker
and the job seeker's intention to join the company are
confirmed, the employment contract is signed, and the job
seeker joins the company.
 Revenue is generated in accordance with thetheoretical annual income and the rate when the job
seeker has joined the company.

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Structure of the Job Recruitment Media Business••

We operate job recruitment media, where job ads from client companies are posted. Job
seekers apply for jobs at client companies on their own.
Revenue is generated when a job ad of a client company has been posted.

④

Job
seekers①

A client company requests us to post a job ad.

②

We create a job ad for the client company and post it on thejob recruitment media.
 Revenue is generated in accordance with the plan
when a job ad has been posted.

③

We provide the job ad on the job recruitment media.

④

A job seeker views the job ad.

⑤

The job seeker applies for the job at the client company on
their own.

⑥

The company interviews the job seeker.

⑦

After the client company's intention to employ the job seeker
and the job seeker's intention to join the company are
confirmed, the employment contract is signed, and the job
seeker joins the company.

③

⑤

⑥, ⑦

②

①
Companies
seeking
workers

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Structure of the Direct Recruiting Business••

Client companies view the database of job seekers and send scout e-mails to job seekers whomeet their requirements.
There are multiple billing systems available, including pre-billing, post-billing, and pay-asyou-go.
Jobseekers

①

④

⑤

①

A job seeker registers their information in the database.

②

A client company applies for the service.

③

We provide a database of job seekers to the client company.
 (Pre-billing) Revenue is generated in accordancewith the number of e-mails that can be sent.
 (Fixed-rate billing) Revenue is generated as amonthly usage fee.

④

The client company sends scout e-mails to job seekers.
 (Pay-as-you-go) Revenue is generated inaccordance with the number of e-mails that have been
sent.

⑤

A job seeker responds to the e-mail and applies for the jobon their own.

⑥

The company interviews the job seeker.

⑦

After the client company's intention to employ the job seeker
and the job seeker's intention to join the company are
confirmed, the employment contract is signed, and the job
seeker joins the company.
 (Post-billing) Revenue is generated in accordancewith the theoretical annual income and the rate when
the job seeker has joined the company.

⑥, ⑦

③

②
Companies
seeking
workers

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Position of Each Service•

Each service has a benefit and a disadvantage for client companies.

Placement
business

Job recruitment
media

Direct recruiting

Benefit

Disadvantage

A part of the recruitment
process can be outsourced.

It is difficult for clientcompanies to approach job
seekers actively.

Unit cost of recruitment
can be reduced.

It is difficult for clientcompanies to approach job
seekers actively.

It is possible to actively
approach job seekers whomeet their recruitment
needs.

It is troublesome for clientcompanies to approach job
seekers.

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21

External Environment

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Factors for Market Growth•

The market for career change support services consists largely of five factors.

Market of career change support services

Consists largely of five factors

Number ofworkers

Careerchange rate

Rate ofutilization ofprivate jobchangesupportservices

AverageannualincomeCharge rate
(Supplydemandbalance)

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23

Trend of the Number of Workers••

The number of workers increased in the last ten years, mainly reflecting women's
participation in society and the extension of work years.
The number of workers peaked in 2019 and is expected to decline gradually towards 2030.
Changes in labor population and number of workers
Number
就労者数of workers

Labor
population
労働力人口

7200
7000

Employment
rate
就労率

CAGR

97.7%

97.4%

98.0%
97.0%

96.0%

6750

6800

96.0%

6,747 million people

-0.0%

95.0%
6600

0.8%

94.0%

6400 6326

93.0%

6200

92.0%

6000

91.0%
2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

Source: Prepared by the Company based on Labour Force Survey from the Ministry of Internal Affairs and Communications
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24

Trend of the Number of People Who Change Their
Career and Career Change Rate•

The number of people who change their career decreased temporarily due to the COVID-19
pandemic but has been growing at a high rate since 2021.
Changes in the Number of People Who Change Their Career
and Career Change Rate
Numberof people who change careers
転職者数

Career change rate
転職率

CAGR

400

6.0%

5.2%

380
360

4.5%

4.9%

353

340

4.3%

3.5%

6.4%

320
300

328 million
4.0% people

290

287

5.0%

3.0%

280
2.0%

260
240

1.0%

220
200

0.0%

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

Source: Prepared by the Company based on Labour Force Survey from the Ministry of Internal Affairs and Communications
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25

Trend of Percentages of Channels of Employment••

The rate of utilization of private career change support services by people who change their career
has been on an upward trend in the last ten years.
The growth of private employment agencies (such as placement agencies) is particularly significant.

Changes in Percentages of Channels of Employment
100%

Private employment
民間職業紹介所
agencies

Public Employment Security
Officecalled “Hello Work”
ハローワーク(ネット含む)(including internet service)

Ads
広告

Human
縁故
network

Others
その他

80%

60%

40%
Rate of utilization ofprivate job change
support services

20%

0%
2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

Source: Prepared by the Company based on Labour Force Survey from the Ministry of Internal Affairs and Communications
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26

Trend of Average Annual Income•

Average annual income declined temporarily due to the COVID-19 pandemic but has been
growing at a high rate since 2021.
Changes in Average Annual Income
Regular employees
正社員

530

Non-regular employees
非正規社員

CAGR

230
yen
523 ten thousand

2.1%

520

508

510

502

0.8%

210

201

500
490

220

200

489

190
480
470

175

170

176

180

170

460
450

160

2014

2015

2016

2017

2018

2019

2020

2021

2022

Source: Prepared by the Company based on Minkan Kyuyo Jittai Toukei Chosa (statistical survey on private-sector salaries) by National Tax Agency
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27

Trend of the Percentage of People Who Change
Their Careers by Annual Income Group••The percentage of people who change careers in the high annual-income group has been
trending higher.
Compared to the percentage of high annual-income group to salary earners, that to people
who change careers is low. Growth is therefore expected to continue.
Changes in the percentage of people who change careers(regular employees) by annual income group.
-～399万円
3.99 million yen

100%-～599万円
5.99 million yen

0.9%
4.0%

3.7%
18.0%

80%

- 9.99 million yen～999万円

1.2%
5.1%

10.00
million yen - A large gap
1,000万円～

2.6%
8.4%

4.4%
20.3%

5.7%
22.7%

60%
40%
20%
0%

People who
転職者changetheircareerSalary

給与所得者
earners2012

People who
転職者changetheircareerSalary

給与所得者
earners2017

People who
転職者changetheircareerSalary

給与所得者
earners2022

Source: Prepared by the Company based on Shugyo-kozo Kihon Chosa (basic employment structure survey) from the Ministry of Internal Affairs
and Communications
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28

Trend of Supply-Demand Balance•

Upward trend of demand (number of jobs available from client companies) has continued
after the COVID-19 pandemic.
Changes in job-openings-to-applicants ratio of doda
and the ratio of job offers to job seekers
Job-openings-to-applicants
ratio
doda求人倍率of doda2.60

Ratio of job offers to job seekers
有効求人倍率（パート除く）(excluding part-time jobs)

2.41

2.40
2.20

2.02

2.00
1.80
1.60

1.51

1.40

1.27

1.20

1.52
1.31
1.12

1.12

2020

2021

1.28

1.31

2022

2023

1.00
0.80
2019

Source: Prepared by the Company based on Employment Referrals for General Workers from the Ministry of Health, Labour and Welfare andinternal information of the Company
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29

Market Potential•

While the number of workers will decrease gradually, the market is expected to continue
growing given the intention to change careers, mainly among people in the high annualincome group, combined with growing average annual income and hiring interest among
companies.
Market of career change support services

Upward trend

Number of workers

Career change rate

Percentage ofprivate sector

Average annual
incomeCharge rate

Downward trend

Upward trend

Upward trend

Upward trend

Upward trend

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30

Mid- to Long-term
Strategy

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Mid- to Long-term Strategy•

Our policy is to focus our efforts on driving DX in core domains (placement business and job
recruitment media business targeting the majority group), investing in high-growth markets,and increasing the attracting force.

Mid- to Long-term Strategy
Driving DX in core domains

Investing in high-growth markets

Increasing the attracting force

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Driving DX in core domains•

In the placement business and job recruitment media business targeting the majority group,
which are our core domains, we will drive DX with an aim of improving the customer
experience value, business quality, and profitability.

Brand
Job recruitment media
Placement businessMeasureAim

Enhancement of matching AI

Improvement of customer
experience value

Introduction of IT tooperations
Redevelopment of database

Improvement of businessquality
Improvement of profitability

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33

Investing in the high-growth market•

We will make marketing investment in the high-end group and service development
investment, aiming to strengthen multitiered recruitment solutions on an ongoing basis.

Brand

MeasureAimSide job / freelancer
Direct recruiting

Marketing investment in
the high-end group

Placement for the highend groupService development
investment

Job recruitment media

Horizontal spread ofexpertise in core domains

Strengthening multitiered
recruitment solutions on
an ongoing basis

Placement business

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34

Increasing the attracting force•

At the same time as strengthening multitiered recruitment solutions on an ongoing basis,
we will launch PERSOL MIRAIZ as a lineup that expands career possibilities, aiming toincrease the attracting force.
Brand

Community

Training/Coaching

MeasureAim

Launching PERSOL MIRAIZ
as a lineup that expands
career possibilities

Side job / freelancer
Direct recruiting
Placement for the highend group

Strengthening multitiered
recruitment solutions on
an ongoing basis

Increasing the attracting
force by evolving into asustainable careerdevelopment platform

Job recruitment media

Placement business

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35

Main Topics

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Main Topics••

In doda X, revenue and expenditure in FY2023 as the first fiscal year of investment were inline with the plan.
Use of doda Direct makes it possible to reach out to and use both doda and doda X
databases.

✓ Revenue and expenditure in FY2023 as the first fiscal year of investment

doda X

were as planned.
✓ Launched the direct recruiting service for doda X users.

✓ Renewal and launch of doda Direct✓ Launched the direct recruiting service for doda X users.

doda Direct
 Use of doda Direct enables to reach out to and use both doda and doda X
databases.

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37

Disclaimer

The statements concerning PERSOL HOLDINGS’s future business performances inthis material such as earnings forecasts are based on information available as ofJuly 2, 2024 and certain assumptions deemed to be reasonable by PERSOLHOLDINGS, and do not mean that PERSOL HOLDINGS promises to achieve thesefigures. Actual results may differ materially from the statements due to a variety
of factors.
The figures and indicators included in this material have been released to facilitate
an appropriate understanding for business results and financial status of PERSOLGroup. Kindly note that not all the figures and indicators have been subjected toaudit and review by external auditors.

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39