Persol (2181: JP), the Japanese staffing firm, reported revenue on 14 February for the nine months ended 31 December 2024 of JPY 1.08 trillion (USD 7.12 billion), an increase of 9.6% when compared to the previous period.

All strategic business units (SBU) posted an increase in revenue, contributing the company’s overall 9.6% growth.

Revenue by segment

Revenue increased in the staffing SBU, primarily reflecting a 2.9% year-on-year increase in the number of temporary staff employed and 1.9% year-on-year increase in average billing rates, in addition to strong performance in the placement business.

Revenue in BPO increased due to organic growth, which more than offset a decline in revenue from COVID19-related business.

Within the technology SBU, revenue increased because the outsourcing business in the engineering area saw growth in demand mainly for development in the manufacturing industry and steady growth was seen in the IT/DX (digital transformation) solutions area.

In the career SBU, revenue increased on the back of strong recruitment demand despite the economic outlook remaining uncertain.

Within the Asia Pacific SBU, revenue increased with steady growth primarily in the facility management business as well as impact of foreign exchange rate. Adjusted EBITDA and operating profit also increased.

Earlier this month, Persol announced plans to invest in Vahan, an India-based AI recruitment platform that helps employers expand their blue-collar workforce across India.

Looking ahead the company forecasted revenue of JPY 1.45 trillion (USD 9.50 billion) for the year ended 31 March 2025.

Persol ranks as the 8th largest staffing firm globally.

Persol Holdings shares closed on 14 February at JPY 225.20 (USD 1.48), down 3.14% on the day and 14.03% above the 52-week low of JPY 197.50 (USD 1.29) set on 8 March 2024. The company has a market cap of JPY 529.74 billion (USD 3.47 billion).