PERSOL HOLDINGS CO.,LTD.
2181・Prime Market・Services
Business
Persol Holdings Co., Ltd. is a comprehensive human resources services holding company originating from Tempstaff, founded in 1973. Domestically, it operates four SBUs: staffing (Staffing SBU), business process outsourcing (BPO SBU), IT and engineering (Technology SBU), and mid-career hiring support (Career SBU). Overseas, it operates human resources services and facility management businesses across 13 countries and regions in the Asia-Pacific region. As of the end of FY2026 (ending March 2026), the group comprised 154 consolidated subsidiaries and 5 affiliated companies, and posted revenue of ¥1,555,833 million, making it one of Japan's largest human resources services groups. Its principal clients are domestic and overseas private companies, government agencies, and local governments, while it also provides diverse employment opportunities to individuals.
Business Model
The Staffing SBU dispatches registered staff to client companies and collects dispatch fees. The Career SBU matches job seekers with hiring companies, earning success-fee-based placement commissions and job advertisement listing fees. The BPO SBU takes on comprehensive outsourcing of business processes and receives ongoing outsourcing fees. The Technology SBU generates revenue through engineer dispatch and design/development contracting. The Asia Pacific SBU's revenue sources are local staffing services and facility management outsourcing fees. Each SBU functions in a mutually complementary manner, achieving resilience to economic fluctuations and diversification of revenue.
Company Strengths
The Staffing SBU boasts revenue of ¥608,086 million (up 3.5% year on year), with both the number of temporary staff placed and billing unit prices increasing year on year. The Career SBU, centered on the "doda" brand, achieved revenue of ¥152,866 million (up 5.7% year on year) and adjusted EBITDA of ¥34,932 million (up 15.0% year on year). Adjusted EBITDA for both SBUs has each reached the ¥35 billion scale, forming a stable pillar of the Group's earnings.
In February 2025, the company made Fujitsu Communication Services Corporation (now PERSOL Communication Services Corporation) a subsidiary, contributing ¥23,214 million to the BPO SBU's revenue for the current period. In October 2025, the company acquired an 85% stake in Gojob SAS, which operates an AI-driven staffing platform. Since 2013, the company has built a diversified business foundation through a series of major M&A deals, including Intelligence and Programmed.
For FY2026 (ending March 2026), ROIC stood at 18.2% (16.6% in the prior period) and ROE at 20.9% (18.8% in the prior period), both achieving the targets set out in the Mid-Term Management Plan for FY2028 (ROIC of 18% or higher, ROE of 20% or higher). Net Debt/Equity was -0.24x and Net Debt/EBITDA was -0.59x, maintaining an effectively debt-free position, achieving both financial soundness and high capital efficiency.
ENVALITH's Perspective
Performance Trend
Revenue increased for five consecutive fiscal years, growing from ¥1,060,893 million in FY2022 (ended March 2022) to ¥1,555,833 million in FY2026 (ending March 2026). Operating profit expanded from ¥48,143 million in FY2022 (ended March 2022) to ¥66,512 million in FY2026 (ending March 2026), with net income also reaching a record-high level of ¥42,688 million. Although there was a temporary profit plateau in FY2024 (ended March 2024), profit growth has accelerated since FY2025 (ended March 2025). In addition to robust hiring demand (an external factor) driven by structural labor shortages in Japan, in-house initiatives such as the expansion of the Career SBU's high-class segment and M&A effects in the BPO SBU have driven margin improvement. The operating profit margin on revenue improved from 4.0% in the previous fiscal year to 4.3% in the current fiscal year.
Growth Strategy
Transformation of the business model centered on AI and realization of high growth and high profitability (Medium-Term Management Plan FY2028)
Promoting automation and sophistication of business processes through AI agents, focusing on "AI × Business," "AI × Work," and "AI × Data" as key domains. Approximately ¥90.0 billion in growth investment over three years will be allocated primarily to AI investment, aiming to improve profitability and transform the business model.
Career SBU is advancing matching sophistication through people × proprietary data × AI and shifting toward the high-end segment, while Technology SBU is strengthening upstream contract work such as AI solutions and pursuing scale expansion including inorganic growth. Both SBUs are positioned as "growth" areas and will continue to receive active investment.
By combining the expertise of Gojob SAS's (made a subsidiary in October 2025) AI-driven staffing platform with domestic digital matching assets such as Sharefull, the company aims to capture new employment demand in the Frontline Worker domain.
Promoting automation and productivity improvement of operations and redesign of business processes through AI implementation. Aiming to establish this as the next pillar of profit growth by embedding the effects of the Persol Communication Service integration and continuing organic growth (up 6.8% in FY2026 (ending March 2026)).
Amid market conditions more challenging than initially assumed, and with the Asia Pacific SBU falling short of the 10% ROIC target, the Medium-Term Management Plan FY2028 prioritizes optimization of the business portfolio to improve profitability.
Last updated: July 19, 2026