Recruit Co. Ltd., one of the world’s largest staffing providers and owner of Indeed, plans to expand its “HR technology” segment beyond advertising by investing in research and development or through acquisitions, according to a mid-term management strategy update discussed today. The Tokyo-based company’s HR technology segment includes Indeed and will include Glassdoor (acquisition announcement made last month).

In its last fourth quarter ended March 31, the company reported HR technology revenue rose 57.5% to ¥61.9 billion (US$582 million).

Full-year revenue in the HR technology segment last year was $1.97 billion.

For its staffing business, Recruit plans to focus on EBITDA growth.

“In Japan, demand for agency workers remains solid supported by a favorable market environment with a steady economic environment and workforce shortage due to a declining birthrate,” according to the company. Outside Japan, demand for agency workers remains steady with strong economy in the US and a steady economic environment in Europe. Recruit's staffing businesses outside Japan include Staffmark in the US, Chandler MacLeod in Australia and Recruit Global Staffing in Europe.

Staffing segment revenue was $3.01 billion in the fourth quarter.