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Japan - Acquisitions propel Recruit Co. revenue

17 May 2013

Recruit Co. Holdings Ltd., the world’s seventh-largest staffing providers, reported global operating revenue in its staffing division rose 53.5% — fueled by acquisitions abroad — to ¥547.1 billion (US$5.80 billion) in the company’s fiscal year ended March.

The Tokyo-based company posted a huge gain outside of Japan where operating revenue rose 642.9% to ¥209.5 billion (US$2.22 billion) from ¥28.2 billion in the previous year. Recruit has made several recent acquisitions in its staffing division. It acquired Staffmark Holdings Inc. and Advantage Resourcing Group in 2011 — both firms ranked Staffing Industry Analysts’ lists of largest staffing firms. Recruit also acquired The CSI Companies Inc., which is based in Florida, in 2010.

Staffmark and The CSI Companies operated in the US, and Advantage Resourcing Group operates in the US and Europe.

Operating revenue for Recruit’s staffing business in Japan rose 2.9% to ¥337.6 billion (US$3.58 billion).

Recruit also has an HR media business that provides job bard advertising and direct-hire placement. Operating revenue in this division rose 22.8% to ¥204.9 billion (US$2.17 billion) in the fiscal year. Recruit acquired Stamford, Conn.-based job board Indeed in 2012.

Total global operating revenue at Recruit rose 30.1% to ¥1.05 trillion (US$11.13 billion). The company has a line of media businesses in addition to its staffing and HR Media divisions.

Separately, Recruit reported in April that it acquired shares of Hong Kong-based Bó Lè Associates Group Ltd., which it describes as the largest executive search firm in Asia. Bó Lè is now a wholly owned subsidiary of Recruit.

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