Recruit (company)

Recruit Holdings Co., Ltd. (株式会社リクルートホールディングス, Kabushiki Kaisha Rikurūto Hōrudingusu), also known as RGF (an acronym for Recruit Global Family) outside Japan,[3] is a Japanese human resources company. It was founded as "Daigaku Shimbun Koukokusha" in 1960[1] as an advertisement company that specialized in university newspapers. It owns the job search engine Indeed and the employer review site Glassdoor.

Recruit Holdings Co., Ltd.
TypePublic (K.K.)
TYO: 6098
IndustryPublished media
Founded1960 (1960)[1]
Headquarters
Tokyo
,
Japan
Key people
Hisayuki Idekoba, President, CEO and Representative Board Director
RevenueIncrease ¥2.27 trillion (FY 2020)[2]
Increase ¥162 billion (FY 2020)[2]
Number of employees
138 (holding company)
46,800 (group) (as of March 31, 2021)[2]
Subsidiaries
Websiterecruit-holdings.com
Recruit Higashi Shinbashi building

It had sales of over 2,269.3 billion Yen in FY2020,[4] with overseas sales contributing 46% of total revenue.

History
  • 2011/10 – The company acquired US-based Staffmark for US$295 million.[5]
  • 2012/10 – The company acquired US-based Indeed.[6]
  • 2014/10 – The company listed on the Tokyo Stock Exchange.[7]
  • 2015 – Recruit Holdings acquired Treatwell for €180 million.[8]
  • 2015 – Recruit Holdings acquired Quandoo for US$219 million.[9]
  • 2016 – Recruit Holdings acquired USG People for €1.42 billion.
  • 2016 – Recruit Holdings acquired Simply Hired, a competitor of Indeed.[10]
  • 2018/3 – Recruit Holdings Co., Ltd. acquires the Canadian job search website Workopolis.[11]
  • 2018/5 – Recruit Holdings acquired Glassdoor for US$1.2 billion in cash.[12]
  • 2020/7 – Recruit Holdings Co., Ltd. Relinquishes its stakeholding in Treatwell [13]

Overview

The company based its core business around job matchmaking particularly between ready-to-graduate students and corporations in the '60s, further expanding into matchmaking of job change seekers, as well as real estate and rental information in the 1970s. By the end of the 1980s, the company was also engaged in the publication of classified ad magazines covering fields such as part-time job listings, automobile and overseas travel.

In 1988, the company was reported to be engaged in the Recruit scandal, which led to the retirement of founder Hiromasa Ezoe from the company and his shares being sold to Daiei.

After becoming a part of Daiei group, Daiei agreed to keep its stance as a "silent stakeholder" but didn't assume Recruit's debt, which totaled approximately 1,400.2 billion yen.[14]

In June 2012, it was announced that Recruit planned to go public within a year. A holding company was established in October 2012, and it expected to list on either the Tokyo Stock Exchange or another exchange.[15] Following repayment of debt repayment and the purchase of some of the shares held by Daiei,[16] Recruit listed on the First Section of the Tokyo Stock Exchange on October 16, 2014.[14]

References
  1. "History | About | Recruit Holdings". Retrieved January 4, 2022.
  2. "Company Profile".
  3. "グローバルブランドRGFについて | 株式会社リクルート". (c) Recruit Co., Ltd. (in Japanese). Retrieved 2023-09-24.
  4. "Q4 and FY2020 Earnings Release" (PDF).
  5. "Staffmark Acquired by Japan's Recruit Co. for $295 million". 19 October 2011.
  6. "Indeed Announces Acquisition by Recruit Co. Ltd".
  7. "Recruit Goes Public: What Next for the Staffing and Media Conglomerate?". nippon.com. 2014-11-26. Retrieved 2023-04-13.
  8. O'Hear, Steve (2015-05-05). "Recruit Acquires Majority Stake In European Hair And Beauty Marketplace Wahanda For $171M". TechCrunch. Retrieved 2023-04-13.
  9. "Japan's Recruit Buys European Restaurant Booking Service Quandoo For $219M". 5 March 2015.
  10. Lunden, Ingrid (2016-07-01). "Indeed owner Recruit Holdings confirms acquisition of Simply Hired". TechCrunch. Retrieved 2023-04-13.
  11. "Indeed to acquire Canadian jobs website Workopolis: Recruit Holdings".
  12. Musil, Steven (May 8, 2018). "Glassdoor to be acquired for $1.2B by Japanese HR company". CNET. Retrieved May 8, 2018.
  13. "Companies house filings".
  14. "Recruit Goes Public: What Next for the Staffing and Media Conglomerate?". nippon.com. 2014-11-26. Retrieved 2022-02-15.
  15. "Recruit to go public more than 20 years after scandal". The Yomiuri Shimbun. June 27, 2012. Archived from the original on June 30, 2012. Retrieved August 7, 2012.
  16. ""This Company Is Japan's Top Contender for Global Internet Domination", Bloomberg". Bloomberg. 17 February 2019.
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