Recruit (company) explained

Recruit Holdings Co., Ltd.
Type:Public (K.K.)
Industry:Published media
Location City:Tokyo
Key People:Hisayuki Idekoba, President, CEO and Representative Board Director
Revenue: (FY 2023)[1]
Operating Income: (FY 2023)
Num Employees:128 (holding company)
58,493 (group) (as of March 31, 2023)
Location Country:Japan

, also known as RGF (an acronym for Recruit Global Family) outside Japan,[2] is a human resources holding company headquartered in Tokyo, Japan. The company was founded by Hiromasa Ezoe (江副浩正), then an educational psychology student at the University of Tokyo, as Daigaku Shimbun Koukokusha (大学新聞広告社, University Newspaper Advertisement Company) in 1960. It was a spin-off from the Todai Shimbun (the University of Tokyo's main student newspaper).[3] [4]

In FY 2021, it reported sales of 2,872 billion Yen and revenue of 297 billion Yen, with 55.5% of its sales generated overseas.[5] Its flagship world-wide services include the job search engine Indeed and the employer review site Glassdoor. The company is listed on the Tokyo Stock Exchange and is a component of the Nikkei 225 and TOPIX Core 30 indices.[6] [7] As of March 2024, the company has the 13th largest market capitalisation in the country of 11.4 trillion Yen.[8]

Overview

Founded by Hiromasa Ezoe, Recruit Holdings Co., Ltd. primarily offers staffing, promotional media, human resource media, and IT solutions. In recent years, the company has significantly focused on IT-driven business sectors.[9] It holds business competitions within the company that all employees can participate in, fostering a corporate culture that encourages freely initiating new ventures. Popular terms such as "freeter (フリーター, freelancing part-timers)", "employment ice age (就職氷河期)", and "gaten-kei (ガテン系, meaning blue-collar jobs)" have originated from information magazines it has published.[10]

Following the Recruit scandal in 1988, which was regarded as one of the largest post-war scandals in Japan, the company faced a loss of credibility, adversity worsened further by the burst of the bubble economy. This led to the manifestation of bad assets issues with subsidiaries such as Recruit Cosmos (real estate) and First Finance (financial services). The entire group found itself in a difficult situation. In June 1992, its shares were transferred to the major supermarket chain Daiei, placing it under the Daiei Group. However, due to deteriorating performance within the Daiei Group, Recruit Holdings separated around the year 2000.[11]

Notes and References

  1. Web site: Company Profile.
  2. Web site: グローバルブランドRGFについて 株式会社リクルート . 2023-09-24 . (c) Recruit Co., Ltd. . ja.
  3. Web site: History About Recruit Holdings. January 4, 2022.
  4. Web site: 2014-11-06 . リクルートが生まれた場所、東京大学新聞 リクルート創業者 江副浩正氏の「唯一の上司」 - 東大新聞オンライン . 2024-03-24 . www.todaishimbun.org . ja.
  5. Web site: 茂久 . 村上 . 2022-06-30 . リクルート、わずか10年で海外売上比率3.6%から55.5%へ。次々に成長事業を生む実力に｢死角｣はあるか . 2024-03-24 . BUSINESS INSIDER JAPAN . ja.
  6. Web site: 構成銘柄一覧 － 日経平均プロフィル . 2024-03-24 . indexes.nikkei.co.jp.
  7. https://www.jpx.co.jp/news/1044/nlsgeu0000050uqm-att/mei_12_size.pdf 「TOPIXニューインデックスシリーズ」の定期選定結果及び構成銘柄一覧
  8. Web site: 日本株 日本企業時価総額上位ランキング - 日本経済新聞 . 2024-03-24 . 日本経済新聞 電子版.
  9. https://xtech.nikkei.com/it/atcl/ncd/15/010900002/ “リクルートの深謀 比類なきIT企業を目指す”
  10. 末永雄大 (2023年9月8日). “リクルート出身の有名人・起業家・社長まとめ！卒業後のキャリアは？”. すべらない転職. アクシス株式会社. 2024年3月14日閲覧。
  11. Web site: Staffmark Acquired by Japan's Recruit Co. for $295 million . 19 October 2011 .
  12. Web site: Indeed Announces Acquisition by Recruit Co. Ltd .
  13. Web site: 2014-11-26 . Recruit Goes Public: What Next for the Staffing and Media Conglomerate? . 2023-04-13 . nippon.com . en.
  14. Web site: O'Hear . Steve . 2015-05-05 . Recruit Acquires Majority Stake In European Hair And Beauty Marketplace Wahanda For $171M . 2023-04-13 . TechCrunch . en-US.
  15. Web site: Japan's Recruit Buys European Restaurant Booking Service Quandoo For $219M . 5 March 2015 .
  16. Web site: Lunden . Ingrid . 2016-07-01 . Indeed owner Recruit Holdings confirms acquisition of Simply Hired . 2023-04-13 . TechCrunch . en-US.
  17. Web site: Indeed to acquire Canadian jobs website Workopolis: Recruit Holdings.
  18. News: Glassdoor to be acquired for $1.2B by Japanese HR company. Musil. Steven. May 8, 2018. CNET. May 8, 2018.
  19. Web site: Companies house filings.
  20. 馬場マコト; 土屋洋『江副浩正』日経BP、2017年12月。ISBN 978-4822258689。 At the time when it joined the Daiei Group, Daiei adopted a stance of being a "silent shareholder" without assuming any debts. Consequently, under Kunio Takagi from Daiei, Recruit managed to settle approximately 1.4 trillion yen in interest-bearing debt from the bubble era's real estate and non-bank business failures by the fiscal year ending in March 1994 by itself. Currently, Recruit operates independently of any corporate group, maintaining neutrality in the service industry while expanding its business operations.

    History

    • 2011/10 – The company acquired US-based Staffmark for US$295 million.[11]
    • 2012/10 – The company acquired US-based Indeed.[12]
    • 2014/10 – The company listed on the Tokyo Stock Exchange.[13]
    • 2015 – Recruit Holdings acquired Treatwell for €180 million.[14]
    • 2015 – Recruit Holdings acquired Quandoo for US$219 million.[15]
    • 2016 – Recruit Holdings acquired USG People for €1.42 billion.
    • 2016 – Recruit Holdings acquired Simply Hired, a competitor of Indeed.[16]
    • 2018/3 – Recruit Holdings Co., Ltd. acquires the Canadian job search website Workopolis.[17]
    • 2018/5 – Recruit Holdings acquired Glassdoor for US$1.2 billion in cash.[18]
    • 2020/7 – Recruit Holdings Co., Ltd. Relinquishes its stakeholding in Treatwell [19]

    External links

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