Japan · Delayed Price · Currency is JPY Recruit Holdings Earnings Call Transcripts
Fiscal Year 2026
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MMT is transforming its business model by introducing a GMV-linked fee and integrating AI to drive revenue and margin growth, starting with Beauty and expanding to other verticals. FY 2024 revenue is projected at JPY 566.8 billion, with margin targets of 30% next year and 35% by FY 2028.
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Record-high revenue and profit are projected, driven by strong U.S. HR Technology growth and the launch of a GMV-linked model in beauty. MMT and HR Tech segments are investing in AI and marketing to sustain growth, with robust capital returns and margin expansion targeted.
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Q2 saw revenue and margin growth driven by HR Technology monetization, with upwardly revised full-year guidance. U.S. ARPJ is a new KPI, expected to rise despite fewer job postings, and share repurchases and dividends boost total payout.
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Q1 revenue declined 2.5% YoY, but EBITDA S margin hit a record 21.3% due to productivity gains. No change to full-year guidance; share buyback program completed early, reducing net cash below target. U.S. labor market remains uncertain, with focus on efficiency and stable operations.
Fiscal Year 2025
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A global HR leader is leveraging AI and data to simplify hiring, shifting from quantity to quality in job matching and aiming for record profits despite a softer labor market. Proprietary data and agentic AI experiences drive innovation, with a focus on reducing manual costs and improving societal outcomes.
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FY2024 saw record revenue and EBITDA, driven by productivity and AI, despite weak US hiring. FY2025 guidance expects flat revenue but higher margins, with continued investment in AI and shareholder returns.
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Q3 revenue grew 3.5% year-over-year to JPY 896.9 billion, led by HR Technology and Japan Staffing, while Matching & Solutions declined due to service migration. Full-year guidance was raised, and the largest share repurchase program was completed ahead of schedule.
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U.S. HR Technology revenue outperformed expectations due to higher revenue per ad, while Japan's transition to Indeed Plus is slower than planned. Share buybacks are ahead of schedule, and a major segment realignment is set for next fiscal year.
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Q1 FY2024 results met expectations, with HR Tech revenue trends reflecting ongoing softness in the U.S. but strong growth in Japan. No changes to full-year guidance, and a JPY 600 billion share repurchase was announced.
Fiscal Year 2024
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Leadership shared 2023 progress on sustainability goals, highlighting achievements in carbon neutrality and ongoing efforts to reduce hiring time and support refugees. Industry recognition and partnerships underscore a commitment to transparency and social impact.