Financial Data

During the fiscal year ended 31 December 2025, the Japanese economy showed weakness in the first half, particularly in the export sector, amid uncertainty over U.S. tariff policies. Subsequently, however, the assessment of business conditions (Diffusion Index: DI) for large manufacturing companies in the Bank of Japan’s Tankan survey improved for three consecutive quarters from June onward. Meanwhile, the DI for large non-manufacturing companies remained flat over the same three consecutive quarters, and the outlook grew more cautious amid concerns about declining inbound tourism consumption and persistently high prices. In addition, the corporate labor shortage intensified further, and in the December Tankan survey, the sense of insufficient employment among mid-sized companies (all industries) reached its highest level in 34 years.

Under these circumstances, the Domestic Recruitment Business, which accounts for about 90% of the Company’s consolidated net sales, experienced only limited impact from hiring restraint due to U.S. tariff issues, while demand in the sectors we focus on—finance, IT, and healthcare—exceeded that impact. Furthermore, we have not observed any slowdown in the mobility of job seekers due to wage-increase expectations, as seen in the previous year, and recruitment activity among middle- and high-class human resources, the core target of our business, remained solid. As a result, our full-year consolidated net sales reached a record high, largely in line with the upwardly revised forecast announced in August.

During this fiscal year, the Domestic Recruitment Business accelerated its business shift toward high-salary positions from the beginning of the year. In addition to focusing on the executive field, we advanced the expansion of regional offices and the strengthening of specialist recruitment fields in parallel. Furthermore, by thoroughly conducting corporate visits by consultants to identify and focus on positions with high need in the current business environment, while promoting “face-to-face” communication through in-person direct interviews to deepen understanding of registered job seekers, we worked to improve placement rates and differentiate ourselves from competitors. Moreover, to strengthen human capital, our greatest asset, we undertook various initiatives with an eye toward the Group’s future, including increasing the number of new-graduate and mid-career consultants, enhancing training systems, strengthening management structures, and introducing career development programs.

The Overseas Business continued to face tough market conditions, especially in Asia. However, we continued efforts to improve profitability and return to growth through initiatives such as developing high-salary positions at Japanese-affiliated companies by dispatching directors on-site and promoting Global Account Management, with all companies in the Group working together.

In the Domestic Job Offer Advertising Business, we strengthened cooperation with the Domestic Recruitment Business and expanded services for direct recruiting by client companies, thereby increasing the number of registrants and placements.

With regard to selling, general and administrative expenses, we worked on cost management and operational efficiency in rigorous pursuit of the Group’s fiscal-year goal of “Maximum Growth with Minimum Cost,” resulting in our full-year consolidated operating income reaching a record high, largely in line with the upwardly revised forecast announced in August.

As a result, for the fiscal year ended 31 December 2025, net sales reached ¥46,089 million (up 17.7% year on year). By segment, the Domestic Recruitment Business, the Domestic Job Offer Advertising Business, and the Overseas Business had net sales of ¥41,660 million (up 19.0% year on year), ¥397 million (down 1.0% year on year), and ¥4,031 million (up 7.6% year on year), respectively.

In terms of profit, operating income was ¥11,683 million (up 28.5% year on year), ordinary income was ¥11,709 million (up 28.4% year on year), and profit attributable to owners of parent was ¥8,400 million (up 49.7% year on year). By segment, the Domestic Recruitment Business posted ¥11,122 million in profit (up 27.3% year on year), the Domestic Job Offer Advertising Business posted ¥92 million in profit (up 56.9% year on year), and the Overseas Business posted ¥287 million in profit (a loss of ¥447 million for the previous fiscal year).

In the Domestic Recruitment Business, strong recruitment demand persists in high-salary positions, which is our focus area. We will work to strengthen business synergies across the entire Group through “Integration”—linking the Overseas Business and the Domestic Job Offer Advertising Business with our strengths in high-salary positions, overseas-related business, and foreign companies.
Regarding the consolidated financial results forecast for the fiscal year ending 31 December 2026, we expect net sales of ¥53,200 million, operating income of ¥12,600 million, ordinary income of ¥12,600 million, profit before income taxes of ¥12,600 million, and profit attributable to owners of parent of ¥8,600 million.