Recruit Holdings Co., Ltd. (TSE 6098)
Consolidated Financial Results for FY2020
May 17, 2021
Recruit Holdings Co., Ltd. (TSE 6098)
Consolidated Financial Results for the Year Ended March 31, 2021 (IFRS, Unaudited)
Tokyo, May 17, 2021 ― Recruit Holdings Co., Ltd. announced today its consolidated financial results for the year ended March 31, 2021 (April 1, 2020 to March 31, 2021).
(Amounts are rounded down to the nearest million yen)
Consolidated Operating Results
(In millions of yen, unless otherwise stated) | FY2019 | FY2020 | % change |
Revenue | 2,399,465 | 2,269,346 | -5.4% |
Adjusted EBITDA | 325,159 | 241,658 | -25.7% |
Operating income | 206,011 | 162,823 | -21.0% |
% to revenue | 8.6% | 7.2% | - |
Profit before tax | 226,149 | 168,502 | -25.5% |
Return on assets (%) | 12.1% | 8.0% | - |
Profit attributable to owners of the parent | 179,880 | 131,393 | -27.0% |
% to total equity attributable to owners of the | 18.4% | 12.6% | - |
parent | |||
Profit available for dividends | 184,522 | 121,765 | -34.0% |
Total comprehensive income | 152,970 | 209,011 | 36.6% |
Basic EPS (yen) | 108.27 | 79.83 | - |
Diluted EPS (yen) | 108.07 | 79.70 | - |
Adjusted EPS (yen) | 121.03 | 82.56 | -31.8% |
Reference: Share of profit of associates and joint ventures was 3,617 million yen in FY2019 and 6,468 million yen in FY2020.
Consolidated Financial Position
(In millions of yen, unless otherwise stated) | As of March 31, 2020 | As of March 31, 2021 | |||||
Total assets | 1,998,917 | 2,196,613 | |||||
Total equity | 995,743 | 1,101,289 | |||||
Equity attributable to owners of the parent | 988,449 | 1,091,571 | |||||
Ratio of equity attributable to owners of the parent (%) | 49.4% | 49.7% | |||||
Equity attributable to owners of the parent per share (yen) | 599.65 | 667.96 | |||||
Consolidated Cash Flows | |||||||
(In millions of yen, unless otherwise stated) | FY2019 | FY2020 | |||||
Net cash flows from operating activities | 303,325 | 286,597 | |||||
Net cash flows from investing activities | (88,993) | (40,373) | |||||
Net cash flows from financing activities | (192,721) | (172,713) | |||||
Cash and cash equivalents at the end of the year | 421,253 | 501,043 | |||||
Dividends | |||||||
(In yen, unless otherwise stated) | FY2019 | FY2020 | FY2021 (Forecast) | ||||
At the end of Q1 | - | - | - | ||||
At the end of Q2 | 15.00 | 9.50 | - | ||||
At the end of Q3 | - | - | - | ||||
At the end of Q4 | 15.00 | 10.50 | - | ||||
Total | 30.00 | 20.00 | - | ||||
Total amount of dividend payment (in millions of yen) | 49,811 | 32,855 | - | ||||
Payout ratio-consolidated (%) | 27.7 | 25.1 | - | ||||
Ratio of dividends to total equity attributable to owners of the | 5.1 | 3.2 | - | ||||
parent (%) |
Reference: Payout ratio (consolidated) based on profit available for dividends was 27.0% in FY2020.
The annual dividend for FY2021 is undecided.
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Recruit Holdings Co., Ltd. (TSE 6098)
Consolidated Financial Results for FY2020
Consolidated Financial Guidance for FY2021 | |||||
The Company provides the guidance of key financial metrics for FY2021 as below: | |||||
(In millions of yen, unless otherwise stated) | FY2021 (Forecast) | Year on year % change | |||
Revenue | 2,450,000 - 2,600,000 | 8.0% | - 14.6% | ||
Adjusted EBITDA | 270,000 - 335,000 | 11.7% | - 38.6% | ||
Operating income | 180,000 - 245,000 | 10.5% | - 50.5% | ||
Profit before tax | 185,000 - 250,000 | 9.8% | - 48.4% | ||
Profit for the period | 140,000 - 190,000 | 6.3% | - 44.3% | ||
Profit attributable to owners of the parent | 140,000 - 190,000 | 6.6% | - 44.6% | ||
Adjusted EPS (yen) | 95.51 - 126.10 | 15.7% | - 52.7% |
Please refer to page 15, Consolidated Financial Guidance for FY2021 for more details.
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Recruit Holdings Co., Ltd. (TSE 6098)
Consolidated Financial Results for FY2020
Changes in Significant Subsidiaries Resulting from Change in Scope of Consolidation
There was no change in specific subsidiaries accompanying a change in the scope of consolidation.
Changes in Accounting Policies and Changes in Accounting Estimates
There has been no change in: (1) accounting policies required by IFRS, (2) accounting policies other than the foregoing item (1), and (3) accounting estimates.
Number of Issued Shares - Common Stock
As of March 31, 2020 | As of March 31, 2021 | ||||||
Number of issued shares including treasury stock | 1,695,960,030 | 1,695,960,030 | |||||
Number of treasury stock | 47,574,459 | 61,763,564 | |||||
FY2019 | FY2020 | ||||||
Average number of shares during the period | 1,661,362,368 | 1,645,920,829 | |||||
Definition of the Abbreviation | |||||||
Abbreviation | Definition | ||||||
Recruit Holdings, the Holding Company | Recruit Holdings Co., Ltd. on a standalone basis | ||||||
the Company, Recruit Group, We, Our | Recruit Holdings Co., Ltd. and its consolidated subsidiaries | ||||||
SBU | Strategic Business Unit | ||||||
Q1 | Three-month period from April 1 to June 30 | ||||||
Q2 | Three-month period from July 1 to September 30 | ||||||
Q3 | Three-month period from October 1 to December 31 | ||||||
Q4 | Three-month period from January 1 to March 31 | ||||||
FY2019 | Fiscal year from April 1, 2019 to March 31, 2020 | ||||||
FY2020 | Fiscal year from April 1, 2020 to March 31, 2021 | ||||||
FY2021 | Fiscal year from April 1, 2021 to March 31, 2022 | ||||||
Definition of the Financial Measures | |||||||
Financial Measures | Definition | ||||||
Adjusted EBITDA | Operating income + depreciation and amortization (excluding depreciation of right-of-use assets) ± | ||||||
other operating income/expenses | |||||||
Adjusted profit | Profit attributable to owners of the parent ± adjustment items (excluding non-controlling interests) | ||||||
± tax reconciliation related to certain adjustment items | |||||||
Adjusted EPS | Adjusted profit / (number of issued shares at the end of the period - number of treasury stock at the | ||||||
end of the period) | |||||||
Profit available for dividends | Profit attributable to owners of the parent ± non-recurring income/losses ± tax reconciliation related to | ||||||
certain non-recurring income/losses | |||||||
Adjustment items | Amortization of intangible assets arising due to business combinations ± non-recurring income/losses | ||||||
Non-recurring income/losses | Gains or losses from disposals of shares of associates, expenses relating to company restructuring, | ||||||
gains or losses from the sale or impairment of property and equipment, and income and expense | |||||||
items that the Company believes are unusual or non-recurring in nature which do not reflect the | |||||||
Company's underlying results of operations |
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Recruit Holdings Co., Ltd. (TSE 6098)
Consolidated Financial Results for FY2020
Change of Company Name
The name of the companies in this document is as of March 31, 2021, unless otherwise indicated. The companies that changed their names during FY2020 are indicated below.
Company Name | Company Name | Change |
(prior to the change) | (as of March 31, 2021) | |
USG People France SAS | RGF Staffing France SAS | December, 2020 |
USG People Germany GmbH | RGF Staffing Germany GmbH | February, 2021 |
Also, the name of the companies within Recruit Group changed from April 1, 2021 to May 17, 2021 is indicated below.
Company Name | New Company Name | Change | ||||||||
(as of March 31, 2021) | (as of May 17, 2021) | |||||||||
USG People Holdings B.V. | RGF Staffing the Netherlands B.V. | April, 2021 | ||||||||
Average exchange rate during the period | ||||||||||
FY2019 | FY2020 | |||||||||
(In yen) | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | ||
cumulative | cumulative | cumulative | cumulative | cumulative | cumulative | |||||
US dollar | 109.90 | 108.60 | 108.65 | 108.70 | 107.63 | 106.93 | 106.11 | 106.10 | ||
Euro | 123.50 | 121.40 | 121.04 | 120.81 | 118.59 | 121.34 | 122.44 | 123.76 | ||
Australian | 76.95 | 75.24 | 74.91 | 74.11 | 70.74 | 73.32 | 74.35 | 76.21 | ||
dollar | ||||||||||
The amount of exchange rate effects on revenue for Q4 FY2020 is calculated by deducting the amount of the nine month period of FY2020 from the amount of the twelve month period of FY2020.
Reference: Outline of Non-consolidated Financial Results
Non-consolidated Operating Results
(In millions of yen, unless otherwise stated) | FY2019 | FY2020 | % change | ||||
Revenue | 102,061 | 27,324 | -73.2% | ||||
Operating profit | 92,056 | 19,297 | -79.0% | ||||
Recurring profit | 94,065 | 19,574 | -79.2% | ||||
Net income | 85,854 | 14,063 | -83.6% | ||||
Earnings per share - Basic (yen) | 51.68 | 8.54 | - | ||||
Earnings per share - Diluted (yen) | 51.58 | 8.53 | - | ||||
Non-consolidated Financial Position | |||||||
(In millions of yen, unless otherwise stated) | As of March 31, 2020 | As of March 31, 2021 | |||||
Total assets | 1,409,458 | 1,372,520 | |||||
Net asset | 872,799 | 805,322 | |||||
Equity ratio (%) | 61.8% | 58.6% | |||||
Net asset per share | 528.44 | 491.99 |
Reference: Equity was 871,080 million yen as of March 31, 2020 and 804,005 million yen as of March 31, 2021.
Earnings releases are not subject to review by a certified public accountant nor an independent auditor.
Forward-Looking Statements
This document contains forward-looking statements, which reflect the Company's assumptions and outlook for the future and estimates based on information available to the Company and the Company's plans and expectations as of the date of this document or other date indicated. There can be no assurance that the relevant forecasts and other forward-looking statements will be achieved. Please note that significant differences between the forecasts and other forward-looking statements and actual results may arise due to various factors, including changes in economic conditions, changes in individual users' preferences and business clients' needs, competition, changes in the legal and regulatory environment, fluctuations in foreign exchange rates, and other factors. Accordingly, readers are cautioned against placing undue reliance on
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Recruit Holdings Co., Ltd. (TSE 6098)
Consolidated Financial Results for FY2020
any such forward-looking statements. The Company has no obligation to update or revise any information contained in this document based on any subsequent developments except as required by applicable law or stock exchange rules and regulations.
Note Regarding Reference Translation
This document has been translated from the Japanese language original for reference purposes only and may not be used or disclosed for any other purpose without the Company's prior written consent. In the event of any conflict or discrepancy between this translated document and the Japanese language original, the Japanese language original shall prevail in all respects. The Company makes no representations regarding the accuracy or completeness of this translation and assumes no responsibility for any losses or damages arising from the use of this translation.
Third-Party Information
This document includes information derived from or based on third-party sources, including information about the markets in which the Company operates. These statements are based on statistics and other information from third-party sources as cited herein, and the Company has not independently verified and cannot assure the accuracy or completeness of any information derived from or based on third-party sources.
U.S. Disclaimer - Unsponsored American Depositary Receipt ("ADR")
The Company does not support or encourage, and has not consented to, the creation of any unsponsored ADR facilities in respect of its securities and in any event disclaims any liability in connection with an unsponsored ADR. The Company does not represent to any depositary institution, bank or anyone nor should any such entity rely on a belief that the Web site of the Company includes all published information in English, currently, and on an ongoing basis, required to claim an exemption under U.S. Exchange Act Rule 12g3-2(b).
A full set of materials regarding FY2020 results announcement is posted on https://recruit-holdings.com/ir/library/report/
Contact
Investor Relations +81-3-6835-1111Recruit_HD_IR@r.recruit.co.jp
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Recruit Holdings Co. Ltd. published this content on 17 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 May 2021 07:38:02 UTC.