Slides
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Consolidated Financial Results for the 1st Half of FY2025 PERSOL HOLDINGS CO., LTD. November 11, 2025 Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved.
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Highlights Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved. 2 Financial results for the 1st half of FY2025 were steady, with progress proceeding as planned. Full-year targets are expected to be achieved. ◼ 1st half revenue and profit increased, with record highs achieved in revenue and all -stage profits ◼ While a temporary PMI expenses related to M&A is expected in the 2nd half, it will be absorbed by overachieved performance in the 1st half. Adjusted EBITDA growth of 10% (86.5 billion yen) and full -year target of operating profit (66.0 billion yen) are expected to be achieved *1 FY2024 is the fiscal year ended March 31, 2025, and FY2025 is the fiscal year ending March 31, 2026. *2 "Profit" indicates the amount of profit attributable to owners of parent. *3 SBU: Strategic Business Unit, FU: Function Unit *4 Figures for "1st half" are cumulative totals for Q1 and Q2 while those for Q2 are totals for the three months. Notes regarding these materials Aiming for adjusted EBITDA growth of 10% in the next fiscal year and beyond ◼ By refining the business models of each segment to enhance profitability, sustaining 10% growth in adjusted EBITDA ◼ Promoting disciplined growth investment focused on capital efficiency, while maintaining a balance with shareholder returns Evolving into a Technology-driven HR service company ◼ Acquired shares in Gojob, an AI-driven staffing platform 1 2 3
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Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved. Summary of the Consolidated Financial Results for the 1st Half of FY2025
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FY2025 1H Summary (Consolidated) Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved. 4 Revenue and all-stage profits increased year-on-year, and are progressing steadily against the full-year forecasts. （Million yen） FY2024 FY2025 YoY Full-year forecasts Progress rate1H results 1H results Revenue 717,586 752,741 +4.9% 1,540,000 48.9% Gross profit 165,762 174,713 +5.4% - - Operating profit*1 32,102 36,603 +14.0% 66,000 55.5% OP margin 4.5% 4.9% +0.4pt 4.3% - Adjusted EBITDA 42,774 44,347 +3.7% 86,500 51.3% Adjusted EBITDA margin 6.0% 5.9% -0.1pt 5.6% - Profit*1, 2 21,381 23,976 +12.1% 41,000 58.5% Adjusted profit*2 24,819 24,926 +0.4% 45,500 54.8% EPS (Yen)*1, 2 9.56 10.93 +14.3% 18.37 59.5% Adjusted EPS (Yen)*2 10.99 11.23 +2.2% 20.39 55.1% *1 Recognized approx. 2.7 billion yen in gains from the sale of a certain business in FY2025 Q2 (These gains are included in operating profit, profit and EPS, but excluded from adjusted EBITDA, adjusted profit and adjust ed EPS.) *2 FY2024 Q1 results recorded corporation tax refund of 1.3 billion yen at Programmed in Australia.
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42.7 44.3 8.9 FY2024 1H Gross profit SG&A expenses, etc. FY2025 1H -7.3 FY2025 1H Analysis of Increase/Decrease in Adjusted EBITDA (YoY) Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved. 5 (effect of exchange rate: -1.5) (effect of exchange rate: +1.3) Gross profit increased steadily. Adjusted EBITDA also increased through cost optimization. （Billion yen） Personnel expenses 2.8 System expenses 1.6 Marketing expenses 0.0 Others 2.8 *Exchange rates (period average) [AUD] FY2024 1H: 101.3 yen, FY2025 1H: 94.6 yen (The sign indicating the effects of exchange rate within the graph denotes an increase/decrease in profit.)
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Including approx. ¥2.7 billion in gains on the sale of certain business (inventory-related business classified under “Others”) conducted in FY2025 Q2 44.3 36.6 2.7 FY2025 1H Adjusted EBITDA Depreciation /amortization Increase/decrease in accrued paid leave Share-based payment expenses Others FY2025 1H Operating profit -7.1 -1.7 -1.6 FY2025 1H Adjusted EBITDA vs Operating Profit Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved. 6 （Billion yen） (excluding rent and other equivalents from depreciation of right-of-use assets) * Adjusted EBITDA: operating profit + depreciation/amortization (excluding rent and other equivalents from depreciation of ri ght-of-use assets) + (-) Increase/decrease in accrued paid leave + share-based payment expenses – (+) other income/expenses – (+) other non-recurring profit/loss ※Figures in brackets are FY2024 1H results （42.7） （-6.4） （-2.5） （-1.4） （-0.3） （32.1）
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SBU Revenue Achieved rate Consolidated 99.4% Staffing 98.8% BPO 99.7% Technology 97.3% Career 99.7% Asia Pacific 100.3% Others 95.2% Adjusted - Adjusted EBITDA Gap with forecasts Achieved rate +1.3 103.1% +0.3 101.8% +0.2 106.2% -0.8 80.0% +2.2 112.7% +0.3 105.6% +0.1 - -1.1 - 752.7 757.0 303.4 307.0 69.7 70.0 60.3 62.0 77.8 78.0 236.6 236.0 26.6 28.0 -21.8 -24.0 44.3 43.0 18.2 17.9 3.7 3.5 3.3 4.2 19.9 17.7 5.8 5.5 -1.4 -1.6 -5.3 -4.2 FY2025 1H Achievement Status Against Forecasts Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved. 7 Major factors of gap with forecasts in adjusted EBITDA: The upside from Career SBU offset the downside from Technology SBU and Adjusted. ▶ Career SBU：Consultant productivity improvement contributed ▶ Technology SBU：Impact of delays in intra-group projects (resolved in 1H) ▶ Adjusted：Increase of one-time expenses related to M&A FY2025 1H results FY2025 1H forecasts * Exchange rates (period average) [AUD] FY2025 1H: 94.6 yen, FY2025 initial forecast: 95.0 yen （Billion yen）（Billion yen）
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Adjusted EBITDA 1H results 1H forecasts 1H achieved rate Full-year forecasts Full-year progress rate 44.3 43.0 103.1% 86.5 51.3% 18.2 17.9 101.8% 34.2 53.3% 3.7 3.5 106.2% 10.0 37.2% 3.3 4.2 80.0% 10.0 33.6% 19.9 17.7 112.7% 34.1 58.5% 5.8 5.5 105.6% 11.0 52.8% -1.4 -1.6 - -1.8 - -5.3 -4.2 - -11.0 - Revenue 1H results 1H forecasts 1H achieved rate Full-year forecasts Full-year progress rate 752.7 757.0 99.4% 1,540.0 48.9% 303.4 307.0 98.8% 618.0 49.1% 69.7 70.0 99.7% 147.0 47.5% 60.3 62.0 97.3% 129.0 46.8% 77.8 78.0 99.7% 155.0 50.2% 236.6 236.0 100.3% 482.0 49.1% 26.6 28.0 95.2% 59.0 45.2% -21.8 -24.0 - -50.0 - Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved. 8 （Billion yen） * Exchange rates (period average) [AUD] FY2025 1H: 94.6 yen, FY2025 initial forecast: 95.0 yen Operating profit 1H results 1H forecasts 1H achieved rate Full-year forecasts Full-year progress rate 36.6 34.3 106.7% 66.0 55.5% 16.7 16.1 104.1% 29.7 56.4% 2.4 2.3 106.1% 7.9 30.9% 2.6 3.3 81.4% 8.3 32.4% 17.0 15.1 112.7% 28.5 59.7% 3.8 3.2 121.5% 7.8 49.9% -0.1 -0.6 - -2.3 - -6.0 -5.1 - -13.9 - Consolidated Staffing BPO Techno logy Career Asia Pacific Others Adjusted (Reference) FY2025 1H Achieved Rate/ Full-year Progress Rate by SBU
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19.0 22.9 21.7 16.0 19.8 22.5 18.4 22.0 21.8 18.8 13.5 FY2023 FY2024 FY2025 72.2 78.3 328.7 360.8 373.6 326.1 356.7 379.0 335.7 368.6 391.5 336.4 365.0 FY2023 FY2024 FY2025 Q4 Q3 Q2 Q1 1,327.1 1451.2 Full-year Forecasts for Revenue and Adjusted EBITDA Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved. 9 Revenue Adjusted EBITDA （Billion Yen） Progress rate 51.3% Progress rate 48.9% Full-year forecast 1,540.0 （YoY+6.1%） Full-year forecast 86.5 （YoY＋10.4％） Progress rate 49.3％ Progress rate 49.4％ Progress rate 48.5％ Progress rate 54.6％ （Billion Yen） Adjusted EBITDA progressed as planned for 1H. While anticipating increased expenses such as PMI in 2H, the upward in 1H is expected to absorb these costs, and the full-year forecast remains unchanged.
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SBU Revenue （Million Yen) YoY Major changes (1H comparison) Staffing*1 +3.7% Number of active staff +2.2% Charge price +2.1% Revenue from placement business +7.3% BPO*2 +27.8% Organic*3 revenue ＋8.3% Contribution of M&A conducted in February 2025 was 11.6 billion yen Technology*2 +10.2% The number of engineers +6.4% Average sales per unit +1.2% Career +6.8% Placement revenue +4.7% Job recruitment media revenue +6.8% Asia Pacific*4 -0.3% 4.8% increase in revenue (excluding the exchange rate impact of 13.7 billion yen) Facility management remained strong Temporary staffing in Australia and placement are sluggish Others*1 +4.9% ‐ Adjusted - ‐ 303,412 292,578 69,762 54,593 60,327 54,735 77,803 72,883 236,613 237,359 26,651 25,402 -21,829 -19,965 (Reference) FY2025 1H Revenue by SBU (YoY) Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved. 10 *1 Some businesses of the Staffing SBU were transferred to Others in April 2025. Figures for FY2024 were corrected retroactiv ely to reflect the transfer. *2 From FY2024 Q2, some businesses were transferred from the BPO SBU to the Technology SBU (no retroactive adjustments). *3 Organic: Excluding revenue from COVID-19-related projects and revenue from PERSOL COMMUNICATION SERVICES LIMITED (formerly Fu jitsu Communication Services Limited), which was acquired through M&A in February 2025. *4 Exchange rates (period average) [AUD] FY2024 1H: 101.3 yen, FY2025 1H: 94.6 yen FY2025 1H FY2024 1H
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SBU Adjusted EBITDA （Million Yen) Margin YoY Major changes (1H comparison) Staffing*1 6.0% +7.4% Effects of revenue increase and growth of the highly profitable placement business contributed to profit increase5.8% BPO*2 5.3% +53.4% Contribution of M&A conducted in February 2025 was 0.7 billion yen 4.4% Technology*2 5.6% -3.6% Delays in certain intra-group projects reduced profit by 0.5 billion yen (resolved in 1H)6.4% Career 25.6% +18.7% Effect of revenue increase and productivity improvement (+13.5%) 23.1% Asia Pacific*3 2.5% -17.9% Temporary factors (YoY subsidy difference of 0.6 billion yen and system renewal cost of 0.8 billion yen) and impact of exchange rate at 0.3 billion yen pushed down profit3.0% Others*1 - - Reduced deficit through increased revenue and cost optimization - Adjusted - - Increase in SG&A expenses due to system costs and M&A-related expenses - (Reference) FY2025 1H Adjusted EBITDA by SBU (YoY) Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved. 11 *1 Some businesses of the Staffing SBU were transferred to Others in April 2025. Figures for FY2024 were corrected retroactiv ely to reflect the transfer. *2 From FY2024 Q2, some businesses were transferred from the BPO SBU to the Technology SBU (no retroactive adjustments). *3 Exchange rates (period average) [AUD] FY2024 1H: 101.3 yen, FY2025 1H: 94.6 yen FY2025 1H FY2024 1H 18,227 16,976 3,715 2,422 3,361 3,486 19,945 16,807 5,809 7,076 -1,403 -1,586 -5,308 -2,408
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SBU Operating profit（Million Yen) Margin YoY Special notes Staffing*1 5.5% +8.7% - 5.3% BPO*2 3.5% +62.7% Contribution of M&A conducted in February 2025 was 0.5 billion yen 2.7% Technology*2 4.5% -10.7% - 5.5% Career 21.9% +17.4% - 19.9% Asia Pacific*3 1.6% +6.1% - 1.5% Others*1 - - Including a gain of approx. 2.7 billion yen from the sale of a certain business - Adjusted - - - - (Reference) FY2025 1H Operating Profit by SBU (YoY) Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved. 12 *1 Some businesses of the Staffing SBU were transferred to Others in April 2025. Figures for FY2024 were corrected retroactiv ely to reflect the transfer. *2 From FY2024 Q2, some businesses were transferred from the BPO SBU to the Technology SBU (no retroactive adjustments). *3 Exchange rates (period average) [AUD] FY2024 1H: 101.3 yen, FY2025 1H: 94.6 yen FY2025 1H FY2024 1H 16,760 15,425 2,440 1,500 2,687 3,010 17,019 14,496 3,889 3,665 -105 -2,932 -6,087 -3,064
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Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved. Financial Results by SBU for the 1st Half of FY2025
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Adjusted EBITDA Revenue 147.5 153.0 145.0 150.3 FY2024 FY2025 Q2 Q1 292.5 303.4 +3.7% Staffing SBU (P/L Analysis) Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved. 14 ⚫ Following Q1, no. of active staff achieved stable growth and the charge price progressed as expected in Q2. Unit：% FY2024 FY2025 Q1 Q2 Q3 Q4 Q1 Q2 No. of active staff +3.1 +3.0 +2.6 +2.1 +2.2 +2.2 Charge price +2.0 +1.9 +1.9 +1.9 +2.1 +2.1 No. of operating days 0.0 0.0 +1.6 -1.7 0.0 0.0 Working hours -0.6 -0.2 -1.2 +0.7 -0.7 -0.1 ⚫ Adjusted EBITDA increased in Q2 due to the effect of increased revenue and optimization of SG&A expenses. （Billion Yen） * Some businesses of Staffing SBU were transferred to Others in April 2025, and figures for FY2024 were revised retroactively. Accordingly , the analysis of increase/decrease in revenue for FY2025 compares the revised figures for FY2024. ■ Analysis of increase/decrease in revenue (YoY) * The definitions of each KPI are listed in page 23. 1H Revenue 1H Adjusted EBITDA 9.7 10.2 7.2 7.9 5.8% FY2024 6.0% FY2025 16.9 18.2 ＋7.4% Adjusted EBITDA margin
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* Some businesses of Staffing SBU were transferred to Others in April 2025. No. of active staff and charge price were correc ted retroactively to reflect the transfer. * Reflecting the revision of the aggregation method of charge price in FY2025, figures have been corrected retroactively. * Since the charge prices for FY2024 Q3 and Q4 were incorrect in the FY2025 Q1 earnings briefing presentation slides, the figur es have been corrected. Staffing SBU (Changes in Charge Price and No. of Active Staff) Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved. 15 FY2024 FY2025 ■ No. of operating days (day) ■ Changes in charge price and no. of active staff Charge price (yen) No. of active staff (thousand people) 129 129 131 132 132 132 2,389 2,397 2,403 2,409 2,440 2,448 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 +2.1% ＋2.2% FY2024 FY2025 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 62 59 62 57 62 59 60 58
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Adjusted EBITDA Revenue 27.2 33.9 27.3 35.7 FY2024 FY2025 Q2 Q1 54.5 69.7 +27.8% BPO SBU (P/L Analysis) Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved. 16 ⚫ Organic*¹ growth in Q2 was +11.5% YoY, driven by strong performance in IT-related BPO aimed at enhancing customer productivity and in the public sector (local gov., gov. agencies, etc.). ⚫ In addition to the revenue growth from organic expansion, profit increased due to the absence of one-time expenses related to the business restructuring in the previous fiscal year. ％（Billion yen) FY2024 FY2025 Q1 Q2 Q3 Q4 Q1 Q2 Revenue 27.2 27.3 28.8 33.8 33.9 35.7 Organic 26.7 26.8 28.8 29.7 28.1 29.9 Organic YoY +14.2% +8.8% +13.1% +9.0% +5.2% +11.5％ COVIDｰ19 0.4 0.4 - - - - CSL*2 - - - 4.0 5.8 5.8 Adjusted EBITDA 0.9 1.7 2.0 1.9 1.1 2.4 Organic 0.7 1.2 2.2 1.5 0.8 2.1 COVIDｰ19 0.1 0.1 - - - - CSL*2 - - - 0.4 0.4 0.3 *1 Organic: Excluding revenue from COVID-19-related projects and revenue from CSL, which was acquired through M&A in February 2025 *2 CSL: PERSOL COMMUNICATION SERVICES LIMITED (former Fujitsu Communication Services Limited) *3 From FY2024 Q2, some businesses were transferred from the BPO SBU to the Technology SBU (no retroactive adjustments). ■ Breakdown of revenue and adjusted EBITDA 0.9 1.2 1.4 2.4 4.4% FY2024 5.3% FY2025 2.4 3.7 ＋53.4％ Adjusted EBITDA margin （Billion Yen） 1H Revenue 1H Adjusted EBITDA
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Adjusted EBITDA Revenue ⚫ Q2 revenue growth was driven by increases in both the no. of engineers and their unit prices across all segments. ▶ IT/DX Solutions (YoY+6.3%): Increase in the no. of engineers ▶ Engineering (YoY+8.6%): Increases both in the no. of engineers and average sales per unit ▶ Registered temporary staffing/Freelancers (YoY+1.5%): Increase in charge price ⚫ Turnover rate remained at 8% range in Q2 as planned. 41% 30% 29% IT/DX Solutions Engineering Registered temporary staffing/Freelancers Technology SBU (P/L Analysis) Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved. 17 * FY2025 1H results ⚫ Following Q1, Q2 also saw a negative impact from the delayed responses to certain intra-group projects. (Impact amount for Q1: -0.28 billion yen, for Q2: -0.22 billion yen; delayed responses resolved in 1H) 26.2 29.2 28.5 31.0 FY2024 FY2025 Q2 Q1 54.7 60.3 +10.2% * From FY2024 Q2, some businesses were transferred from the BPO SBU to the Technology SBU (no retroactive adjustments). 1.1 0.8 2.3 2.4 6.4％ FY2024 5.6％ FY2025 3.4 3.3 -3.6% Adjusted EBITDA margin （Billion Yen） 1H Revenue 1H Adjusted EBITDA Revenue composition
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Average sales per unit (1,000 yen/month) Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved. 18 ■Changes in operating person-months and operating rate FY2023 FY2024 FY2025 936 953 979 1,008 984 1,013 1,015 1,033 1,000 1,024 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 ＋1.0%■Change in average sales per unit*2 (operating person-month basis) 481 people 627 people 724 people *1 Calculated each KPI for in-house employees only *2 Average sales per unit =sales / operating person-months, including business partners FY2023 FY2024 FY2025 Technology SBU (Changes in Operating Person-Months, Operating Rate and Average Sales per Unit) Operating rate New graduates Operating person-months 5,838 6,008 6,207 6,243 6,591 6,903 7,014 7,080 7,078 7,343 87.3% Q1 89.9% Q2 91.9% Q3 92.3% Q4 84.9% Q1 89.4% Q2 91.0% Q3 91.5% Q4 82.2% Q1 86.2% Q2 +6.4%
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1H Revenue 1H Adjusted EBITDA Adjusted EBITDA Revenue 66% 21% 13% Placement Job recruitment media Others Career SBU (P/L Analysis) Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved. 19 * FY2025 1H results Unit：% FY2024 FY2025 Q1 Q2 Q3 Q4 Q1 Q2 Placement +14.3 +11.6 +8.0 +7.2 +4.2 +5.3 Job recruitment media +13.0 +12.4 +8.8 +10.6 +7.6 +6.0 ■ Increase/decrease in revenue (YoY) ⚫ Marketing investment continued to be proactively implemented as planned in Q2. ⚫ Increased revenue and improved productivity led to higher profits in Q2. ⚫ Revenue growth continued in Q2 for both placement & job recruitment media. ⚫ The business environment for placement remains unchanged from the initial forecast. ▶ Majority group*: Both companies & individuals were continuously cautious. ▶ High-income group*: Continued its high rate of growth. 36.9 39.3 35.8 38.4 FY2024 FY2025 Q2 Q1 72.8 77.8 +6.8% 9.4 10.4 7.3 9.4 23.1% FY2024 25.6% FY2025 16.8 19.9 ＋18.7％ Adjusted EBITDA margin （Billion Yen） Revenue composition * Majority group: Job seekers with an average annual income range of 4 to 6 million yen High-income group: Job seekers with an average annual income range of more than 6 million yen
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Career SBU (Productivity and No. of Personnel of Placement) * Productivity: Monthly average sales in the overall placement business / No. of personnel * No. of personnel: Total number of front-line personnel in the overall placement business (average at the beginning of each month) * From FY2025, the scope of data collection for the placement business has been expanded from the main services to all services. As a result, past figures have been retroactively revised. * Since the no. of personnel in FY2025 Q1 was incorrect, the figures of the no. of personnel and productivity in FY2025 Q1, a nd YoY comparisons have been corrected. ■YoY Changes ■ Productivity* and No. of Personnel* of Placement FY2023 FY2024 FY2025 20Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved. Productivity (thousand yen) No. of personnel (person) 2,499 2,700 2,786 2,845 2,970 3,005 2,885 2,788 2,785 2,729 2,989 2,605 2,380 2,597 2,875 2,611 2,483 2,842 3,195 3,027 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 -9.2% +15.9% Unit: % FY2023 FY2024 FY2025 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Productivity ‐ ‐ ‐ ‐ -3.8 +0.2 +4.3 +9.4 +11.1 +15.9 No. of personnel ‐ ‐ ‐ ‐ +18.8 +11.3 +3.5 -2.0 -6.2 -9.2
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59%31% 10% Staffing Facility management Others Asia Pacific SBU (P/L Analysis) Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved. 21 ⚫ 4.7％ revenue increase in Q2 (excluding exchange rate impact) ▶Facility management: Performing well ▶Temporary staffing：Steady in Asia, but sluggish in Australia ▶Placement: Continuously sluggish ⚫ Exchange rate impact in 1H: -13.7 billion yen (Q1: -10.6 billion yen, Q2: -3.0 billion yen) ⚫ System renewal costs were 0.3 billion yen in Q2 and 0.8 billion yen for 1H. ⚫ Exchange rate impact in 1H: -3.0 billion yen (Q1: -1.7 billion yen, Q2: -1.2 billion yen) ⚫ The subsidy that reduced profits in Q1 had no impact in Q2 (FY24 Q1: 0.7 billion yen, FY25 Q1: 0.1 billion yen, diff: -0.6 billion yen) * FY2025 1H results *Exchange rates (period average) [AUD] FY2024 1H: 101.3 yen, FY2025 1H: 94.6 yen 120.2 115.4 117.1 121.1 FY2024 FY2025 Q2 Q1 237.3 236.6 -0.3% 3.3 2.1 3.7 3.7 3.0% FY2024 2.5% FY2025 7.0 5.8 -17.9% Adjusted EBITDA margin （Billion Yen） 1H Revenue 1H Adjusted EBITDA Adjusted EBITDA Revenue Revenue composition Breakdown by sub-segment of Staffing Temporary staffing: 94% Placement: 3% Others: 3%
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Others / Adjusted (P/L Analysis) Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved. 22 ■Others ■Adjusted （Billion Yen） 12.2 13.1 13.1 13.4 FY2024 FY2025 Q2 Q1 25.4 26.6 ＋4.9％ -1.0 -0.5 FY2024 -0.5 -0.9 FY2025 -1.5 -1.4 （Billion Yen） 1H Revenue 1H Adjusted EBITDA 1H Revenue 1H Adjusted EBITDA ⚫ Reduced deficit through increased revenue and cost optimization ⚫ Increased intra-group transactions led to higher consolidation eliminations ⚫ Increase in SG&A expenses due to system costs and M&A-related expenses Comments Comments *Some businesses of Staffing SBU were transferred to Others in April 2025. Figures for FY2024 were corrected retroactively to reflect the transfer. -9.7 -10.5 -10.2 -11.2 FY2024 FY2025 Q2 Q1 -19.9 -21.8 -1.1 -2.2 -1.2 -3.0 FY2024 FY2025 -2.4 -5.3
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Staffing Unit FY2024Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2025Q1 FY2025Q2 FY2025Q3 FY2025Q4 Q1 YoY Q2 YoY Q3 YoY Q4 YoY No. of active staff 1,000 People 129 129 131 132 132 132 - - +2.2% +2.2% - - Charge price JPY 2,389 2,397 2,403 2,409 2,440 2,448 - - +2.1% +2.1% - - No. of operating days Day 62 59 62 57 62 59 60 58 0.0% 0.0% - - Working hours YoY % -0.6 -0.2 -1.2 +0.7 -0.7 -0.1 - - - - - - No. of orders YoY % +3.7 -0.3 +0.1 +0.0 +1.6 +2.3 - - - - - - No. of confirmed contracts YoY % -1.0 -2.4 -1.5 -3.2 +3.0 +4.7 - - - - - - No. of contract terminations YoY % -0.3 -0.1 +2.2 +0.8 +3.6 +3.0 - - - - - - BPO Unit FY2024Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2025Q1 FY2025Q2 FY2025Q3 FY2025Q4 Q1 YoY Q2 YoY Q3 YoY Q4 YoY No. of customers Company 2,018 2,173 1,663 1,849 1,973 2,096 - - -2.2% -3.5％ - - (Reference) List of SBU KPIs (1) Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved. 23 * No. of active staff: Number of active temporary staff during the subject period (monthly average for the quarter, long-term contracts of 3 months or more only) * Charge price: Average charge price for temporary staffing contracts (monthly average for the quarter) * No. of operating days: Number of days excluding planned paid leave days set by the staffing company from the number of weekdays * Working hours YoY: Year-on-year comparison of the average daily actual working hours (including overtime) per temporary staff at PERSOL TEMPSTAFF * No. of orders YoY: Year-on-year comparison of the number of persons involved in orders for temporary staffing that were placed in the subject months * No. of confirmed contracts YoY: Year-on-year comparison of the number of temporary staffing contracts which have initial contract start date in the subject months * No. of contract terminations YoY: Year-on-year comparison of the number of temporary staffing contracts which have date of termination in the subject months * No. of customers: Number of client companies with actual project operation in the last month of the quarter ■ Some businesses of Staffing SBU were transferred to Others in April 2025, and figures for FY2024 were revised retroactively. Accordingly, YoY compares the revised figures for FY2024. ■ Since the charge prices for FY2024 Q3 and Q4 were incorrect in the FY2025 Q1 earnings briefing presentation slides, the figur es have been corrected. ■ Customer consolidation was implemented in FY2024 Q3 due to reorganization within the SBU, and the no. of customers with which transactions were conducted after consolidation is listed above.
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Technology Unit FY2024Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2025Q1 FY2025Q2 FY2025Q3 FY2025Q4 Q1 YoY Q2 YoY Q3 YoY Q4 YoY IT/DX solution No. of operating engineers Person -month 3,140 3,320 3,390 3,460 3,430 3,560 - - +9.2% +7.2% - - Operating rate ％ 82.0 86.2 87.8 88.3 79.1 81.3 - - -2.9pt -4.9pt - - Average monthly sales per unit 1,000 JPY 1,204 1,211 1,198 1,189 1,193 1,204 - - -0.9% -0.6% - - Engineering No. of operating engineers Person -month 3,440 3,580 3,620 3,610 3,630 3,770 - - +5.5% +5.3% - - Operating rate ％ 87.4 92.3 94.0 94.4 85.1 91.0 - - -2.3pt -1.3pt - - Average monthly sales per unit 1,000 JPY 783 830 845 883 817 854 - - +4.3% +3.0% - - Registered temporary staffing/Freelancers - No. of registered temporary engineers (active staff) Person 4,680 4,640 4,660 4,700 4,600 4,560 - - -1.7% -1.7% - - Charge price Yen 3,986 4,016 4,023 4,063 4,116 4,142 - - +3.2% +3.1% - - Career Unit FY2024Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2025Q1 FY2025Q2 FY2025Q3 FY2025Q4 Q1 YoY Q2 YoY Q3 YoY Q4 YoY No. of doda members (cumulative) Person 8,800,000 9,040,000 9,270,000 9,513,333 9,786,666 10,060,000 - - +11.2% +11.3% - - No. of personnel in placement business Person 2,970 3,005 2,885 2,788 2,785 2,729 - - -6.2% -9.2% - - Productivity of placement business 1,000 JPY 2,875 2,611 2,483 2,842 3,195 3,027 - - +11.1% +15.9% - - Asia Pacific Unit FY2024Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2025Q1 FY2025Q2 FY2025Q3 FY2025Q4 Q1 YoY Q2 YoY Q3 YoY Q4 YoY No. of personnel in placement business Person 1,126 1,111 1,067 1,044 1,029 999 - - -8.6% -10.0% - - (Reference) List of SBU KPIs (2) Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved. 24 * No. of doda members (cumulative): Cumulative number of registered doda members (monthly average for the quarter) * No. of personnel in placement business: Number of front-line personnel in the overall placement business (average at the beginning of each month for the quarter) * Productivity of placement business: Monthly average sales in the overall placement business / number of personnel * No. of personnel in placement business: Number of personnel in placement business (monthly average for the quarter) * No. of operating engineers: Number of operating in-house employee person-months during the quarter-end month * Operating rate: Number of operating in-house employee person-months during the quarter-end month / number of in-house employees at the end of the quarter * Average monthly sales per unit: Quarterly total inspection sales amount / quarterly total operating person-months (including business partners) * No. of registered temporary engineers (active staff): Number of operating registered temporary staffing engineers at the end of the quarter * Charge price: Average charge price of the temporary staffing contracts (monthly average for the quarter) ■ Since the no. of personnel in FY2025 Q1 was incorrect, the figures of the no. of personnel and productivity in FY2025 Q1, and YoY comparisons have been corrected.
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Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved. FY2025 Interim Dividend
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10.10 17.16 17.85 17.03 18.50 20.39 25.7％ 24.5％ 34.2% 50.5% 51.4% 54.0% FY2025 Interim Dividend 1.3 2.0 2.1 4.3 4.5 5.5 1.3 2.2 4.0 4.3 5.0 5.5 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 11.0 Year-end Interim An interim dividend is 5.5 yen per share as forecast initially. The forecast amount of annual dividends is 11.0 yen, a record high. (Forecast) (Yen) Interim Year-end Annual * Because the Company implemented a 10-for-1 split of its common stock, effective October 1, 2023, values for the amount of dividend per share and adjusted EPS, including values for past fiscal years, were converted by assuming that stock split has been implemented. * Dividend payout ratio based on earnings per share (EPS) for FY2025 will be 60.1% (forecast). +1.5 yen (Forecast) Adjusted EPS* (Forecast) (Forecast) Dividend payout ratio (Adjusted EPS basis) Dividends (Result) 9.5 8.6 6.1 4.2 2.6 Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved. 26
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Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved. Evolving into a Technology-driven HR Service Company
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Direction of Management Technology-driven HR service companyDirection of Management Definitions Concept Now Profit 2030 The direction the PERSOL Group should take is set as follows. An HR service company that can achieve discontinuous growth with products and digitalization while attaching importance to the intervention value of people Workforce Business Staffing/BPO/Technology/(a part of) APAC Digital Platform Business Career/(a part of) APAC/R&D 28Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved. Restated from the Group Mid-Term Management Plan (Disclosed on May 15, 2023)
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Using a technology-based Center of Excellence (CoE) organization as a hub, we will enhance Groupwide technology-oriented human resources and organizations while strengthening implementation and utilization in businesses and services Technology Policy Further improvements to the work environment through devices, infrastructure and the digitalization of corporate systems Developing environments that enable the success of specialist human resources through Group recruitment, the establishment of CoE organizations and the building of comfortable work environments for specialist human resources (personnel systems, etc.) Improved value of core business services through increasingly sophisticated matching, UI and UX improvements, personalization, data utilization and the shift to in-house development Areas of Technology Promotion Key initiatives *1. Workforce Business + Digital Platform Business *2. Digital Products / Digital Platforms Exploration, creation and expansion of new products and platforms for Career Well-being based on technology Customer experience Digitalization DX Employee experience Improving the value of core businesses*1 3 Creation of new value*2 4 Promoting the digitalization of environments 2 Evolution of technology-oriented human resources and organizations 1 1 2 3 4 Business growth engines: Technologies Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved. 29 Restated from the Group Mid-Term Management Plan (Disclosed on May 15, 2023)
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Acquisition of Gojob Shares • Defined technology-driven businesses as a key investment area and explored potential targets. • After approximately two years of research, identified strong potential in Gojob’s business model. * The following company overview and business performance trends are reprinted from the timely disclosure on Oct. 1, 2025. The acquisition ratio and acquisition cost are stated as final values. 40.5 70.1 93.8 122.6 149.5 8.6 158.2France The United States -5.1 -8.8 -9.3 -1.3 1.3 FY2020 FY2021 FY2022 FY2023 FY2024 Revenue EBITDA*2 Company name Gojob SAS Business Description AI-driven staffing platform Established 2015 Representative CEO Pascal Lorne (Founder) Business Expansion Areas France, the United States Number of Employees 249 employees as of March 2025 (France: 230, United States: 19) Acquisition Ratio /Acquisition Cost 85.2%: 122 million euros (approx. 21.3 billion yen*1) *Planned to become a wholly owned subsidiary in FY2028 The acquisition price for the additional shares will vary depending on Gojob’s performance at the time of the additional acquisition. Based on the current estimate, the range is expected to be approximately 44 million euros to 71 million euros (approx. 7.7 to 12.4 billion yen*1). ■ Company Overview ■ Business Performance Trends (French accounting standards) （Million euros) FY2020 FY2021 FY2022 FY2023 FY2024 *1 In addition to the acquisition cost, approximately 0.8 billion yen (estimate) in advisory and related fees is expected to be incurred. *2 EBITDA=Operation profit + Depreciation/amortization Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved. 30
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Strength 3 Strength 2 Strengths of Gojob Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved. Technological capabilities • The tech team, equipped with cutting-edge AI technology, delivers strong competitiveness in the digital domain. • Selected for Next40, a group of high-potential startups backed by the French Tech initiative of the French government. • Ranked first in revenue growth among HR service companies in France for the fiscal year 2024. • Achieved a CAGR of approximately 40% over the past four years. • Expected to sustain over 30% CAGR beyond next fiscal year through 2030, achieving profitability exceeding the capital costs. • By building a highly scalable platform that spans countries, regions and job types, and further productizing it as SaaS, the company has created multi- layered value. • Entered the U.S. market in 2021, which the world‘s largest staffing market and plan to further scale the model established in France. Growth potential Scalability Strength 1 Technological capabilities 31
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Business Cycle of Gojob • An expandable growth cycle has been built by automating and digitalizing processes with AI. • Boasting a high repeat rate and a strong customer satisfaction level, and accelerating growth by increasing wallet share • Planning to expand technologies which create the virtuous circle to existing businesses 32 High-precision, speedy AI matching - Automatic selection and ranking of candidates - Appropriate job offers Algorithm that estimates aptitude - Proposing jobs that job seekers have not experienced and are themselves unaware of - Helping them enhance skills and feel a sense of self-determinationDemand forecast model • Increasing wallet share by using a demand forecast model Data accumulation and high-speed learning • Forming a virtuous circle in which precision continues to grow • Improving the customer experience by learning personal information Automated business operation - AI chat at the optimal time - Comprehensive business management functions including contract management and payroll calculations 360° platform covering all needs of high- volume customers 90%+Sufficiency rate <1%Cancellation rate (Industry average: 35%) (Industry average: 10%) 24 minutesTime it takes before finalization 75%Repeat job seeker rate (Conventional temporary staffing: For 1 or 2 days) 73Customer satisfaction (Industry average: 18) Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved.
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Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved. Toward Sustainable Growth in the Next Fiscal Year and Beyond
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Staffing FY2027 adjusted EBITDA margin target is 6%. Improving productivity continuously by digitalizing the business process with AI and DX BPO FY2028 adjusted EBITDA margin target is 8%. Reducing the cost rate by saving labor with use of AI, and reducing SG&A expense ratio with revenue increase and effects of integration Technology FY2028 adjusted EBITDA margin target is 10%. Increasing gross profit margin by increasing the ratio of contracting business, and reducing SG&A expense ratio by increasing revenue Career Focusing efforts on AI investment and marketing investment aimed at gaining top-of-mind awareness Asia Pacific Trying to optimize business portfolio while driving profitability improvement Others [Existing] Monetizing and optimizing each business of R&D FU [New] Maintaining the high growth of Gojob, which joined the Group in October 2025 Remaining a pillar of profit growth Focusing efforts on improving margins in Workforce Business Profitability improvement and portfolio optimization Towards Mid- to Long-term Business Growth Aiming for adjusted EBITDA growth of 10% by striking a balance between growth and capital efficiency 34 ■ Specific details are to be disclosed in the next Mid-term Management Plan, which is scheduled to be announced in May 2026. Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved.
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Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved. Group Topics
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Released the PERSOL Group Integrated Report 2025 The report introduces the Value Creation Story as the Group's path to mid- to long- term improvement of its corporate value and strategies and initiatives for achieving the improvement. * The 2024 edition received the award of excellence in the NIKKEI Integrated Report Award and was selected as Most-Improved Integrated Report by GPIF’s asset managers. * Integrated Report 2025 Japanese version English version ⚫ Review of progress of the Mid-term Management Plan 2026 in its second year by the management including CEO (CxOs) ⚫ Deepening of the Value Creation Story and in-depth review of its components ⚫ Enhanced financial information * News releases are available here (Only available in Japanese) Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved. 36
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Launched joint career support for persons with experience in the operation of EXPO Osaka, Kansai Started providing consulting services on the introduction and use of AI agents “AI Mizomiru-kun”, which measures tire grooves and deterioration with AI, received the Good Design Award 2025. Received the “Promotion Award” and “Creative Office Award” in the 38th Nikkei New Office Awards Published the “Industry Insight Report 2025”, in which industry trends across 12 countries and regions are analyzed Highlighting part-time job career with Sharefull in job-hunting activities Service integration between “Sharefull Agent” and “doda Campus” has been launched. Announced the results of the “Workers' Well-being Survey 2025” Main Topics Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved. 37 News release is available here 図形AI に よ っ て生成さ れ た コ ン テ ン ツ は間違って いる可能性が あ り ま す。 図形AI に よ っ て生成さ れ た コ ン テ ン ツ は間違って いる可能性が あ り ま す。 図形AI に よ っ て生成さ れ た コ ン テ ン ツ は間違って いる可能性が あ り ま す。 図形AI に よ っ て生成さ れ た コ ン テ ン ツ は間違って いる可能性が あ り ま す。 図形AI に よ っ て生成さ れ た コ ン テ ン ツ は間違って いる可能性が あ り ま す。 Staffing BPO Technology Career Asia Pacific Other/R&D Companywide 図形AI に よ っ て生成さ れ た コ ン テ ン ツ は間違って いる可能性が あ り ま す。 ■ Asia Pacific: Industry Insight Report 2025■ Career: A work of art that has visualized the mission is displayed at the entrance to the new office. ■ Technology: Highly evaluated for high measurement precision and simplicity and meticulous consideration to the realities of automobile repair sites
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Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved. Appendix: Trends of Business Environment and Performance, etc.
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Overview of Each SBU and FU’s Business Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved. 39 * The “PERSOL” brand in the Asia Pacific SBU is a service brand. * As of October 1, 2025
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Consolidated Statement of Financial Position for FY2025 1H Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved. 40 As of Mar. 31, 2025 As of Sep. 30, 2025 Change Current assets 299,974 319,657 +19,683 (Major breakdown) Cash and cash equivalents 82,818 97,989 +15,171 Trade and other receivables 179,794 177,335 -2,458 Non-current assets 239,771 242,944 +3,172 (Major breakdown) Right-of-use assets 49,078 47,128 -1,949 Goodwill 70,065 71,191 +1,125 Intangible assets 48,544 50,627 +2,082 Total assets 539,746 562,602 +22,856 As of Mar. 31, 2025 As of Sep. 30, 2025 Change Current liabilities 266,159 281,670 +15,510 (Major breakdown) Trade and other payables 99,508 97,461 -2,046 Bonds and borrowings 10,300 30,300 +20,000 Accrued paid leave 55,721 58,039 +2,317 Non-current liabilities 67,203 55,077 -12,125 (Major breakdown) Bonds and borrowings 20,000 10,000 -10,000 Total liabilities 333,363 336,747 +3,384 Total equity 206,382 225,854 +19,471 Total equity attributable to owners of parent 189,633 208,453 +18,820 Total liabilities and equity 539,746 562,602 +22,856 （Million yen） * From this period-end balance, the consideration of 21,293 million yen for the acquisition of shares in Gojob was paid on October 1, 2025. *
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Balance of Goodwill Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved. 41 SBU As of Mar. 31, 2025 As of Sep. 30, 2025 Staffing 9,207 9,207 BPO 18,676 18,676 Technology 1,988 1,988 Career 16,712 16,712 Asia Pacific 21,782 22,908 Programmed Staffing 5,961 6,402 Programmed Property Services 1,402 1,470 Programmed Facility Management 11,956 12,525 Other than the above 2,462 2,510 Other than the above SBU 1,698 1,698 Total 70,065 71,191 *Exchange rates (end of period) / [AUD] As of Mar. 31, 2025: 93.3 yen; As of Sep. 30, 2025: 97.8 yen （Million yen）
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FY2024 1H FY2025 1H Changes Cash flows from operating activities 19,921 33,593 +13,672 Profit before income taxes 32,015 35,974 +3,958 Depreciation and amortization*1 15,837 17,352 +1,514 Increase (decrease) in accrued consumption taxes as well as in trade and other receivables/payables *2 -14,323 -764 +13,558 Income taxes refund (paid) -7,288 -14,459 -7,170 Cash flows from investing activities -7,419 -7,573 -153 Purchase of property, plant and equipment -1,670 -1,902 -231 Purchase of intangible assets -6,747 -6,338 +409 Purchase of shares of subsidiaries resulting in change in scope of consolidation -1,010 - +1,010 Proceeds from sale of shares of subsidiaries resulting in change in scope of consolidation 1,294 - -1,294 Free cash flow 12,501 26,020 +13,518 Cash flows from financing activities -42,894 -11,196 +31,698 Proceeds from issuance of bonds 10,000 - -10,000 Purchase of treasury shares -20,000 -0 +20,000 Proceeds from/Repayments of short-term borrowings -4,686 20,000 +24,686 Repayments of long-term borrowings -10,002 -10,000 +2 Dividends paid -9,824 -11,093 -1,269 Cash and cash equivalents at end of period 76,970 97,989 +21,019 Consolidated Cash Flow Statement for FY2025 1H Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved. 42 （Million yen） （Major breakdown） （Major breakdown） （Major breakdown） *1 Including rent and equivalent amounts (9,427 million yen for FY2024 1H and 10,243 million yen for FY2025 1H) *2 The impact of March 31, 2024 being a holiday, etc., on FY2024 1H *3 From this period-end balance, the consideration of 21,293 million yen for the acquisition of shares in Gojob was paid on October 1, 2025. *3
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Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved. 43 ◼ Increase/decrease in accrued paid leave ◼ Share-based payment expenses ◼ Other income and expenses ◼ Other non-recurring profit/loss Contents of adjustment item (1) FY2024 1H FY2025 1H Profit 21,381 23,976 Adjustments 4,785 1,309 Tax reconciliation related to certain adjustment items -1,346 -359 Adjusted profit 24,819 24,926 Number of shares (share)* 2,257,390,201 2,220,315,003 Adjusted EPS (yen) 10.99 11.23 Adjusted EPS Profit Adjustment Item (2) Tax reconciliation related to certain adjustment items± ± ÷ Adjusted EBITDA ＋ ± Adjustment Item (1) ◼ In the Mid-term Management Plan 2026, adjusted EBITDA is a key performance indicator (KPI). More emphasis is placed on shareholder return, and the payout ratio will be approx. 50% of adjusted EPS. ◼ Adjusted EPS is calculated by excluding the impacts of increase/decrease in accrued paid leave, share -based payment expenses, etc. Adjusted profit Average number of shares issued during the period - Average number of treasury shares during the periodAdjusted profit Operating profit Depreciation/amortization (excluding rent and other equivalents from depreciation of right-of-use assets) Contents of adjustment item (2) ◼ Increase/decrease in accrued paid leave ◼ Share-based payment expenses ◼ Other income and expenses ◼ Other non-recurring profit/loss ◼ Amortization of assets resulting from acquisitions * Including items attributable to non- controlling interests (Million yen) *Number of shares = average number of shares issued during the period - average number of treasury shares during the period Definitions of Adjusted EBITDA and Adjusted EPS
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Breakdown of Personnel (FY2023Q3-FY2025Q2: Quarterly Changes) Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved. 44 *1 Excluding active temporary staff whose employment periods are fixed-term (approx. 100,000 in Staffing SBU (FY2025 Q2 average)). *2 Number of persons at the end of each quarter *3 Staffing SBU headcounts are retroactively calculated from FY2024 Q1 by adding the actual figures for HUTEC Inc. (Including former Business Services, Inc.) *4 Personnel for the BPO SBU, Technology SBU and Others in FY2025 Q1 were revised due to a reassessment of the aggregation method at certain subsidiaries. Segment 原価/販管 Cost/SG&A 雇用期間 Employment period FY2023Q3 FY2023Q4 FY2024Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2025Q1 FY2025Q2 グループ合計 Group All 原価 Cost 無期 Permanent 45,939 46,251 47,167 46,769 46,941 49,244 51,053 51,581 有期 Fixed-term 2,342 2,388 2,389 2,416 2,417 3,555 3,734 3,670 販管 SG&A 無期 Permanent 19,388 19,479 21,834 21,839 22,162 22,326 23,076 22,756 有期 Fixed-term 4,908 4,945 3,901 3,966 3,632 3,566 3,513 3,517 Total 72,577 73,063 75,291 74,990 75,152 78,691 81,376 81,524 Staffing SBU 原価 Cost 無期 Permanent 26,050 26,333 27,019 27,414 27,637 27,940 28,527 29,195 有期 Fixed-term 599 601 617 624 622 601 584 563 販管 SG&A 無期 Permanent 4,073 4,041 4,383 4,290 4,309 4,285 4,477 4,424 有期 Fixed-term 1,397 1,399 1,332 1,324 1,268 1,282 1,287 1,265 Total 32,119 32,374 33,351 33,652 33,836 34,108 34,875 35,447 BPO SBU 原価 Cost 無期 Permanent 6,821 6,819 7,027 6,950 6,909 8,901 9,583 9,621 有期 Fixed-term 1,391 1,397 1,344 1,334 1,323 2,449 2,494 2,448 販管 SG&A 無期 Permanent 1,099 1,095 1,179 1,165 1,263 1,490 1,570 1,548 有期 Fixed-term 125 124 113 120 125 168 157 161 Total 9,436 9,435 9,663 9,569 9,620 13,008 13,804 13,778 Technology 原価 Cost 無期 Permanent 7,424 7,446 8,400 8,433 8,453 8,465 9,211 9,172 SBU 有期 Fixed-term 107 110 116 125 132 138 143 156 販管 SG&A 無期 Permanent 746 755 924 938 953 953 984 989 有期 Fixed-term 155 153 186 212 218 224 225 228 Total 8,432 8,464 9,626 9,708 9,756 9,780 10,563 10,545 Career SBU 原価 Cost 無期 Permanent 87 89 92 93 92 89 85 85 有期 Fixed-term 40 46 55 55 60 66 63 71 販管 SG&A 無期 Permanent 5,557 5,649 6,089 5,984 5,872 5,763 5,977 5,837 有期 Fixed-term 1,213 1,226 1,198 1,183 1,113 1,006 979 971 Total 6,897 7,010 7,434 7,315 7,137 6,924 7,104 6,964 Asia Pacific 原価 Cost 無期 Permanent 4,911 4,919 3,946 3,200 3,179 3,180 2,949 2,932 APAC 有期 Fixed-term ー ー ー ー ー ー 163 172 販管 SG&A 無期 Permanent 4,979 5,020 5,134 5,230 5,189 5,153 5,010 4,959 有期 Fixed-term 359 320 291 300 308 310 286 275 Total 10,249 10,259 9,371 8,730 8,676 8,643 8,408 8,338 その他 原価 Cost 無期 Permanent 646 645 683 679 671 669 698 576 Others 有期 Fixed-term 205 234 257 278 280 301 287 260 販管 SG&A 無期 Permanent 2,934 2,919 4,125 4,232 4,576 4,682 5,058 4,999 有期 Fixed-term 1,659 1,723 781 827 600 576 579 617 Total 5,444 5,521 5,846 6,016 6,127 6,228 6,622 6,452
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Career SBU: Changes in Job-Openings-to-Applicants Ratio of “doda” Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved. 45 Corporate demand (number of jobs available) continues to remain strong. The current situation regarding the number of candidates who want to change job remains largely unchanged, with the job-openings-to-applicants ratio rising gradually to 2.43. Job-openings-to-applicants ratio is calculated based on the number of jobs available for each registrant (job seeker) in the “do da.” [Source] “doda,” Tenshoku kyujin bairitsu report (report on job-openings-to-applicants ratio) (Sep. 2025) 19/1 20/1 21/1 22/1 23/1 24/1 25/1 2.43 25/9 Job-openings-to-applicants ratio (times) Number of jobs available Number of candidates who want to change job Job-openings- to-applicants ratio in Sep. 2025
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Changes in Job-Openings-to-Applicants Ratio of “doda” by Job Type Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved. 46 By job type, the job-openings-to-applicants ratio is high especially in engineering (IT/telecommunications). [Source] "doda," Tenshoku kyujin bairitsu report (report on job-openings-to-applicants ratio) (Sep. 2025) 11.03 5.35 5.86 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 20/1 21/1 22/1 23/1 24/1 25/1 25/9 Sales/services Sales Engineering (IT/telecommunications) Specialist job (medical) Specialist job (consulting/finance) Engineering (machinery/electricity) Clerical worker/assistant Creator Specialist job (construction/real estate) Others Planning & management Specialist job (chemistry/food) Engineering (IT/telecommunications) Specialist job (consulting/finance) Engineering (machinery/electricity)
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Changes in Job-Openings-to-Applicants Ratio of “doda” by Business Type Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved. 47 By business type, the job-openings-to-applicants ratio is high, especially in HR services, Consulting, and IT/telecommunications. 6.54 8.14 8.32 0 1 2 3 4 5 6 7 8 9 10 11 20/1 21/1 22/1 23/1 24/1 25/1 25/9 Media Medical Energy Construction & Real Estate Leisure & Restaurants Manufacturers IT /telecommunications Retail & Distribution Trading Companies Consulting Others Finance HR services HR services Consulting IT /telecommunications [Source] "doda," Tenshoku kyujin bairitsu report (report on job-openings-to-applicants ratio) (Sep. 2025)
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Targeted Annual Income Group of Career SBU’s Main Services ◼ The main target of doda is the majority group with annual income range of 4 to 6 million yen. ◼ PERSOL will aim to broaden the base to the high-income group with new services, including doda X. 48Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved. Placement business Job recruitment media Direct recruiting Others Main Services Composition ratio* (Number of persons employed) Image of working population by annual income band Majority group Source: National Tax Agency, "Statistical Survey of Private Sector Salaries for the 2023 Fiscal Year" 10 million yen 6 Million yen 4 million yen 5% （2.79 million） 18% （8.93 million） 77% （39.03 million） 2 million yen High -income group
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P/L 連結 Consolidated Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved. 49 *¹ Correction to the FY2024 Q1–FY2025 Q1 Outsourcing expenses, Depreciation and Others in the “FY2025 Q1 Financial Results Presentation Materials” *² Depreciation in Selling, general, and administrative expenses include the “Right-of-use assets depreciation” in Adjusted item allocated to Selling, general, and administrative expenses. FY2024 FY2025 Actual Guidance Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 1H Full-year 売上収益 Revenue M.JPY 360,814 356,771 368,626 365,025 373,669 379,071 - - 752,741 1,540,000 売上原価 Cost of sales M.JPY 276,703 275,119 285,387 281,899 287,205 290,822 - - 578,027 - 売上総利益 Gross profit M.JPY 84,111 81,651 83,239 83,125 86,464 88,249 - - 174,713 - 販管費 Selling, general and administrative expenses M.JPY 66,880 66,447 66,790 74,036 71,057 69,835 - - 140,892 - 人件費 Labor cost M.JPY 42,240 41,706 41,851 42,751 43,610 43,178 - - 86,788 - 広告宣伝費 Advertising expenses M.JPY 4,991 5,554 4,651 7,394 5,370 5,226 - - 10,596 - 業務委託費*¹ Outsourcing expenses M.JPY 4,922 5,350 5,323 7,561 5,117 5,453 - - 10,571 - 償却費*¹*² Depreciation M.JPY 5,522 5,501 5,806 6,104 5,967 6,142 - - 12,109 - その他*¹ Others M.JPY 9,202 8,335 9,156 10,223 10,993 9,836 - - 20,829 - その他の収益 Other income M.JPY 59 85 56 604 150 2,886 - - 3,036 - その他の費用 Other expenses M.JPY 323 153 187 688 157 96 - - 253 - 営業利益 Operating profit M.JPY 16,966 15,135 16,318 9,006 15,400 21,203 - - 36,603 66,000 DA DA M.JPY 7,849 7,988 8,364 8,782 8,685 8,666 - - 17,352 - 償却 Depreciation M.JPY 3,227 3,183 3,590 3,964 3,567 3,541 - - 7,108 - 使用権資産 償却 Right-of-use assets depreciation M.JPY 4,622 4,805 4,773 4,818 5,117 5,125 - - 10,243 - EBITDA EBITDA M.JPY 24,815 23,123 24,682 17,788 24,085 29,870 - - 53,955 - 調整項目 Adjusted item M.JPY -1,871 -3,293 -2,636 -4,268 -2,307 -7,300 - - -9,608 - 未払有給休暇の増減額 Increase/decrease in accrued paid leave M.JPY 1,772 750 1,309 -175 1,988 -240 - - 1,747 - 使用権資産 償却 Right-of-use assets depreciation M.JPY 4,622 4,805 4,773 4,818 5,117 5,125 - - 10,243 - 株式報酬費用 Share-based payment expenses M.JPY 712 692 695 641 814 855 - - 1,670 - その他の収益 Other income M.JPY 59 85 56 604 150 2,886 - - 3,036 - その他の費用 Other expenses M.JPY 323 153 187 688 157 96 - - 253 - その他恒常的でない損益 Other non-recurring profit/loss M.JPY - - - - - - - - - - 調整後EBITDA Adjusted EBITDA M.JPY 22,944 19,830 22,045 13,520 21,777 22,569 - - 44,347 86,500 金融収益 Finance income M.JPY 855 40 277 976 152 195 - - 348 - 金融費用 Finance costs M.JPY 388 282 284 809 453 691 - - 1,144 - 持分法による投資利益 Share of profit of investments accounted for using equity method M.JPY -200 -111 -165 -177 168 -1 - - 166 - 税引前四半期利益 Profit before tax M.JPY 17,232 14,782 16,145 8,995 15,269 20,704 - - 35,974 65,000 法人所得税費用 Income tax expense M.JPY 3,891 5,845 5,878 3,837 4,239 6,896 - - 11,136 - 非支配持分損益 Profit attributable to non-controlling interests M.JPY 389 507 487 447 366 494 - - 860 - 四半期利益 Profit M.JPY 12,952 8,429 9,780 4,710 10,662 13,313 - - 23,976 41,000 売上総利益率 GP margin % 23.3% 22.9% 22.6% 22.8% 23.1% 23.3% - - 23.2% - 営業利益率 OP margin % 4.7% 4.2% 4.4% 2.5% 4.1% 5.6% - - 4.9% 4.3% EBITDAマージン EBITDA margin % 6.9% 6.5% 6.7% 4.9% 6.4% 7.9% - - 7.2% - 調整後EBITDAマージン Adjusted EBITDA margin % 6.4% 5.6% 6.0% 3.7% 5.8% 6.0% - - 5.9% 5.6% 売上高販管費率 SG&A expense ratio % 18.5% 18.6% 18.1% 20.3% 19.0% 18.4% - - 18.7% -
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P/L Staffing SBU Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved. 50 * Some businesses of the Staffing SBU were transferred to Others in April 2025. Figures for FY2024 were corrected retroactively to reflect the transfer. FY2024 FY2025 Actual Guidance Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 1H Full-year 売上収益 Revenue M.JPY 147,566 145,011 151,176 143,632 153,027 150,385 - - 303,412 618,000 売上原価 Cost of sales M.JPY 121,957 120,774 125,759 121,461 126,118 125,239 - - 251,357 - 売上総利益 Gross profit M.JPY 25,608 24,236 25,417 22,171 26,909 25,146 - - 52,055 - 販管費 Selling, general and administrative expenses M.JPY 17,346 17,079 16,789 19,319 17,960 17,301 - - 35,261 - その他の収益 Other income M.JPY 7 4 44 158 29 56 - - 86 - その他の費用 Other expenses M.JPY 0 6 100 92 119 0 - - 119 - 営業利益 Operating profit M.JPY 8,270 7,155 8,570 2,917 8,859 7,901 - - 16,760 29,700 DA DA M.JPY 940 932 1,005 1,034 961 968 - - 1,930 - 償却 Depreciation M.JPY 408 417 466 480 453 457 - - 911 - 使用権資産 償却 Right-of-use assets depreciation M.JPY 531 515 538 553 507 511 - - 1,019 - EBITDA EBITDA M.JPY 9,210 8,087 9,576 3,951 9,821 8,869 - - 18,691 - 調整項目 Adjusted item M.JPY 533 -855 177 314 433 -897 - - -463 - 未払有給休暇の増減額 Increase/decrease in accrued paid leave M.JPY 924 -513 559 715 663 -528 - - 135 - 使用権資産 償却 Right-of-use assets depreciation M.JPY 531 515 538 553 507 511 - - 1,019 - 株式報酬費用 Share-based payment expenses M.JPY 148 171 100 218 189 198 - - 387 - その他の収益 Other income M.JPY 7 4 44 158 29 56 - - 86 - その他の費用 Other expenses M.JPY 0 6 100 92 119 0 - - 119 - その他恒常的でない損益 Other non-recurring profit/loss M.JPY - - - - - - - - - - 調整後EBITDA Adjusted EBITDA M.JPY 9,744 7,232 9,754 4,265 10,254 7,972 - - 18,227 34,200 売上総利益率 GP margin % 17.4% 16.7% 16.8% 15.4% 17.6% 16.7% - - 17.2% - 営業利益率 OP margin % 5.6% 4.9% 5.7% 2.0% 5.8% 5.3% - - 5.5% 4.8% EBITDAマージン EBITDA margin % 6.2% 5.6% 6.3% 2.8% 6.4% 5.9% - - 6.2% - 調整後EBITDAマージン Adjusted EBITDA margin % 6.6% 5.0% 6.5% 3.0% 6.7% 5.3% - - 6.0% 5.5% 売上高販管費率 SG&A expense ratio % 11.8% 11.8% 11.1% 13.5% 11.7% 11.5% - - 11.6% -
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P/L BPO SBU Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved. 51 FY2024 FY2025 Actual Guidance Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 1H Full-year 売上収益 Revenue M.JPY 27,250 27,343 28,815 33,823 33,989 35,772 - - 69,762 147,000 売上原価 Cost of sales M.JPY 20,946 20,403 20,175 24,078 26,117 26,404 - - 52,522 - 売上総利益 Gross profit M.JPY 6,303 6,940 8,640 9,745 7,872 9,367 - - 17,239 - 販管費 Selling, general and administrative expenses M.JPY 5,964 5,750 6,971 8,275 7,552 7,249 - - 14,802 - その他の収益 Other income M.JPY 2 10 0 5 1 1 - - 2 - その他の費用 Other expenses M.JPY 40 0 0 403 0 0 - - 0 - 営業利益 Operating profit M.JPY 300 1,199 1,668 1,071 320 2,119 - - 2,440 7,900 DA DA M.JPY 516 477 487 830 835 631 - - 1,466 - 償却 Depreciation M.JPY 301 295 259 445 365 195 - - 561 - 使用権資産 償却 Right-of-use assets depreciation M.JPY 215 182 228 385 469 436 - - 905 - EBITDA EBITDA M.JPY 817 1,677 2,156 1,902 1,155 2,751 - - 3,907 - 調整項目 Adjusted item M.JPY 142 -214 97 89 110 -301 - - -191 - 未払有給休暇の増減額 Increase/decrease in accrued paid leave M.JPY 208 -60 144 -38 457 -3 - - 453 - 使用権資産 償却 Right-of-use assets depreciation M.JPY 215 182 228 385 469 436 - - 905 - 株式報酬費用 Share-based payment expenses M.JPY 111 38 181 113 123 139 - - 263 - その他の収益 Other income M.JPY 2 10 0 5 1 1 - - 2 - その他の費用 Other expenses M.JPY 40 0 0 403 0 0 - - 0 - その他恒常的でない損益 Other non-recurring profit/loss M.JPY - - - - - - - - - - 調整後EBITDA Adjusted EBITDA M.JPY 959 1,463 2,253 1,991 1,265 2,449 - - 3,715 10,000 売上総利益率 GP margin % 23.1% 25.4% 30.0% 28.8% 23.2% 26.2% - - 24.7% - 営業利益率 OP margin % 1.1% 4.4% 5.8% 3.2% 0.9% 5.9% - - 3.5% 5.4% EBITDAマージン EBITDA margin % 3.0% 6.1% 7.5% 5.6% 3.4% 7.7% - - 5.6% - 調整後EBITDAマージン Adjusted EBITDA margin % 3.5% 5.4% 7.8% 5.9% 3.7% 6.8% - - 5.3% 6.8% 売上高販管費率 SG&A expense ratio % 21.9% 21.0% 24.2% 24.5% 22.2% 20.3% - - 21.2% -
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P/L Technology SBU Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved. 52 FY2024 FY2025 Actual Guidance Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 1H Full-year 売上収益 Revenue M.JPY 26,201 28,533 29,848 30,122 29,259 31,068 - - 60,327 129,000 売上原価 Cost of sales M.JPY 20,376 21,479 22,481 22,300 23,521 23,109 - - 46,630 - 売上総利益 Gross profit M.JPY 5,824 7,054 7,366 7,821 5,737 7,959 - - 13,697 - 販管費 Selling, general and administrative expenses M.JPY 4,928 4,943 5,067 5,509 5,613 5,401 - - 11,015 - その他の収益 Other income M.JPY 1 1 1 23 3 1 - - 5 - その他の費用 Other expenses M.JPY 0 0 0 4 0 0 - - 0 - 営業利益 Operating profit M.JPY 898 2,112 2,301 2,331 127 2,560 - - 2,687 8,300 DA DA M.JPY 413 429 415 481 500 515 - - 1,016 - 償却 Depreciation M.JPY 102 119 120 172 132 141 - - 274 - 使用権資産 償却 Right-of-use assets depreciation M.JPY 311 309 295 308 368 374 - - 742 - EBITDA EBITDA M.JPY 1,311 2,541 2,716 2,812 628 3,076 - - 3,704 - 調整項目 Adjusted item M.JPY -152 -214 135 -510 239 -581 - - -342 - 未払有給休暇の増減額 Increase/decrease in accrued paid leave M.JPY 69 -56 340 -208 482 -334 - - 148 - 使用権資産 償却 Right-of-use assets depreciation M.JPY 311 309 295 308 368 374 - - 742 - 株式報酬費用 Share-based payment expenses M.JPY 90 154 92 25 128 128 - - 257 - その他の収益 Other income M.JPY 1 1 1 23 3 1 - - 5 - その他の費用 Other expenses M.JPY 0 0 0 4 0 0 - - 0 - その他恒常的でない損益 Other non-recurring profit/loss M.JPY - - - - - - - - - - 調整後EBITDA Adjusted EBITDA M.JPY 1,159 2,327 2,851 2,302 867 2,494 - - 3,361 10,000 売上総利益率 GP margin % 22.2% 24.7% 24.7% 26.0% 19.6% 25.6% - - 22.7% - 営業利益率 OP margin % 3.4% 7.4% 7.7% 7.7% 0.4% 8.2% - - 4.5% 6.4% EBITDAマージン EBITDA margin % 5.0% 8.9% 9.1% 9.3% 2.1% 9.9% - - 6.1% - 調整後EBITDAマージン Adjusted EBITDA margin % 4.4% 8.2% 9.6% 7.6% 3.0% 8.0% - - 5.6% 7.8% 売上高販管費率 SG&A expense ratio % 18.8% 17.3% 17.0% 18.3% 19.2% 17.4% - - 18.3% -
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P/L Career SBU Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved. 53 FY2024 FY2025 Actual Guidance Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 1H Full-year 売上収益 Revenue M.JPY 36,986 35,897 34,429 37,332 39,348 38,454 - - 77,803 155,000 売上原価 Cost of sales M.JPY 6,016 6,661 6,592 7,451 6,848 7,263 - - 14,112 - 売上総利益 Gross profit M.JPY 30,969 29,236 27,836 29,881 32,499 31,191 - - 63,691 - 販管費 Selling, general and administrative expenses M.JPY 22,653 23,043 22,243 24,294 23,424 23,241 - - 46,665 - その他の収益 Other income M.JPY 12 19 8 13 9 12 - - 22 - その他の費用 Other expenses M.JPY 32 11 0 65 4 24 - - 28 - 営業利益 Operating profit M.JPY 8,295 6,200 5,600 5,534 9,080 7,938 - - 17,019 28,500 DA DA M.JPY 1,035 965 1,011 1,085 1,138 1,225 - - 2,364 - 償却 Depreciation M.JPY 966 898 944 1,022 1,092 1,170 - - 2,262 - 使用権資産 償却 Right-of-use assets depreciation M.JPY 69 67 66 63 46 55 - - 102 - EBITDA EBITDA M.JPY 9,331 7,166 6,611 6,620 10,219 9,164 - - 19,383 - 調整項目 Adjusted item M.JPY 132 175 158 172 232 330 - - 562 - 未払有給休暇の増減額 Increase/decrease in accrued paid leave M.JPY 24 99 83 31 108 190 - - 298 - 使用権資産 償却 Right-of-use assets depreciation M.JPY 69 67 66 63 46 55 - - 102 - 株式報酬費用 Share-based payment expenses M.JPY 157 151 149 152 175 183 - - 359 - その他の収益 Other income M.JPY 12 19 8 13 9 12 - - 22 - その他の費用 Other expenses M.JPY 32 11 0 65 4 24 - - 28 - その他恒常的でない損益 Other non-recurring profit/loss M.JPY - - - - - - - - - - 調整後EBITDA Adjusted EBITDA M.JPY 9,464 7,342 6,770 6,792 10,451 9,494 - - 19,945 34,100 売上総利益率 GP margin % 83.7% 81.4% 80.9% 80.0% 82.6% 81.1% - - 81.9% - 営業利益率 OP margin % 22.4% 17.3% 16.3% 14.8% 23.1% 20.6% - - 21.9% 18.4% EBITDAマージン EBITDA margin % 25.2% 20.0% 19.2% 17.7% 26.0% 23.8% - - 24.9% - 調整後EBITDAマージン Adjusted EBITDA margin % 25.6% 20.5% 19.7% 18.2% 26.6% 24.7% - - 25.6% 22.0% 売上高販管費率 SG&A expense ratio % 61.2% 64.2% 64.6% 65.1% 59.5% 60.4% - - 60.0% -
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P/L Asia Pacific SBU Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved. 54 FY2024 FY2025 Actual Guidance Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 1H Full-year 売上収益 Revenue M.JPY 120,218 117,140 121,711 117,032 115,421 121,192 - - 236,613 482,000 売上原価 Cost of sales M.JPY 105,390 102,999 107,761 103,758 102,614 106,817 - - 209,432 - 売上総利益 Gross profit M.JPY 14,828 14,141 13,949 13,274 12,807 14,374 - - 27,181 - 販管費 Selling, general and administrative expenses M.JPY 12,703 12,227 11,680 11,629 11,628 11,790 - - 23,418 - その他の収益 Other income M.JPY 29 22 10 360 98 114 - - 213 - その他の費用 Other expenses M.JPY 265 158 63 124 41 45 - - 86 - 営業利益 Operating profit M.JPY 1,888 1,777 2,215 1,879 1,236 2,652 - - 3,889 7,800 DA DA M.JPY 1,804 1,843 1,878 1,878 1,867 1,949 - - 3,817 - 償却 Depreciation M.JPY 701 692 688 687 673 724 - - 1,398 - 使用権資産 償却 Right-of-use assets depreciation M.JPY 1,103 1,151 1,189 1,191 1,194 1,225 - - 2,419 - EBITDA EBITDA M.JPY 3,693 3,621 4,094 3,758 3,104 4,602 - - 7,706 - 調整項目 Adjusted item M.JPY -363 125 -1,051 -2,173 -1,001 -895 - - -1,897 - 未払有給休暇の増減額 Increase/decrease in accrued paid leave M.JPY 502 1,136 84 -747 248 397 - - 645 - 使用権資産 償却 Right-of-use assets depreciation M.JPY 1,103 1,151 1,189 1,191 1,194 1,225 - - 2,419 - 株式報酬費用 Share-based payment expenses M.JPY 1 3 1 1 1 1 - - 3 - その他の収益 Other income M.JPY 29 22 10 360 98 114 - - 213 - その他の費用 Other expenses M.JPY 265 158 63 124 41 45 - - 86 - その他恒常的でない損益 Other non-recurring profit/loss M.JPY - - - - - - - - - - 調整後EBITDA Adjusted EBITDA M.JPY 3,329 3,746 3,043 1,585 2,102 3,707 - - 5,809 11,000 売上総利益率 GP margin % 12.3% 12.1% 11.5% 11.3% 11.1% 11.9% - - 11.5% - 営業利益率 OP margin % 1.6% 1.5% 1.8% 1.6% 1.1% 2.2% - - 1.6% 1.6% EBITDAマージン EBITDA margin % 3.1% 3.1% 3.4% 3.2% 2.7% 3.8% - - 3.3% - 調整後EBITDAマージン Adjusted EBITDA margin % 2.8% 3.2% 2.5% 1.4% 1.8% 3.1% - - 2.5% 2.3% 売上高販管費率 SG&A expense ratio % 10.6% 10.4% 9.6% 9.9% 10.1% 9.7% - - 9.9% -
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P/L その他 Others Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved. 55 * Some businesses of the Staffing SBU were transferred to Others in April 2025. Figures for FY2024 were corrected retroactively to reflect the transfer. * In August 2025, certain businesses within Others were transferred to “Adjusted.” Retroactively adjusted figures are presented for FY2024 Q1 and subsequent periods. (For details, please refer to the timely disclosure announced on June 24, 2025.) FY2024 FY2025 Actual Guidance Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 1H Full-year 売上収益 Revenue M.JPY 12,299 13,102 13,447 13,761 13,190 13,460 - - 26,651 59,000 売上原価 Cost of sales M.JPY 5,334 5,888 5,999 6,030 5,648 5,654 - - 11,302 - 売上総利益 Gross profit M.JPY 6,964 7,213 7,448 7,731 7,541 7,806 - - 15,348 - 販管費 Selling, general and administrative expenses M.JPY 8,124 8,999 8,908 9,399 9,131 9,022 - - 18,154 - その他の収益 Other income M.JPY 5 9 4 22 5 2,695 - - 2,700 - その他の費用 Other expenses M.JPY 3 0 0 4 0 0 - - 0 - 営業利益 Operating profit M.JPY -1,157 -1,774 -1,457 -1,649 -1,584 1,479 - - -105 -2,300 DA DA M.JPY 581 639 754 703 758 769 - - 1,528 - 償却 Depreciation M.JPY 514 541 656 598 586 613 - - 1,200 - 使用権資産 償却 Right-of-use assets depreciation M.JPY 66 98 98 104 172 156 - - 328 - EBITDA EBITDA M.JPY -576 -1,134 -702 -946 -825 2,248 - - 1,423 - 調整項目 Adjusted item M.JPY 36 89 66 12 -78 -2,748 - - -2,826 - 未払有給休暇の増減額 Increase/decrease in accrued paid leave M.JPY 14 123 90 54 9 4 - - 13 - 使用権資産 償却 Right-of-use assets depreciation M.JPY 66 98 98 104 172 156 - - 328 - 株式報酬費用 Share-based payment expenses M.JPY 89 74 77 81 90 98 - - 188 - その他の収益 Other income M.JPY 5 9 4 22 5 2,695 - - 2,700 - その他の費用 Other expenses M.JPY 3 0 0 4 0 0 - - 0 - その他恒常的でない損益 Other non-recurring profit/loss M.JPY - - - - - - - - - - 調整後EBITDA Adjusted EBITDA M.JPY -540 -1,045 -636 -933 -903 -500 - - -1,403 -1,800 売上総利益率 GP margin % 56.6% 55.1% 55.4% 56.2% 57.2% 58.0% - - 57.6% - 営業利益率 OP margin % - - - - - 11.0% - - - - EBITDAマージン EBITDA margin % - - - - - 16.7% - - 5.3% - 調整後EBITDAマージン Adjusted EBITDA margin % - - - - - - - - - - 売上高販管費率 SG&A expense ratio % 66.0% 68.7% 66.2% 68.3% 69.2% 67.0% - - 68.1% -
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P/L 調整 Adjusted Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved. 56 * In August 2025, certain businesses within Others were transferred to “Adjusted.” Retroactively adjusted figures are presented for FY2024 Q1 and subsequent periods. (For details, please refer to the timely disclosure announced on June 24, 2025.) FY2024 FY2025 Actual Guidance Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 1H Full-year 売上収益 Revenue M.JPY -9,708 -10,257 -10,801 -10,680 -10,566 -11,263 - - -21,829 -50,000 売上原価 Cost of sales M.JPY -3,320 -3,087 -3,383 -3,181 -3,663 -3,666 - - -7,329 - 売上総利益 Gross profit M.JPY -6,388 -7,169 -7,418 -7,498 -6,903 -7,596 - - -14,500 - 販管費 Selling, general and administrative expenses M.JPY -4,839 -5,595 -4,872 -4,392 -4,253 -4,171 - - -8,425 - その他の収益 Other income M.JPY 0 17 -13 20 1 3 - - 4 - その他の費用 Other expenses M.JPY -18 -22 22 -7 -8 26 - - 18 - 営業利益 Operating profit M.JPY -1,529 -1,534 -2,581 -3,078 -2,639 -3,448 - - -6,087 -13,900 DA DA M.JPY 2,556 2,698 2,810 2,768 2,621 2,605 - - 5,227 - 償却 Depreciation M.JPY 232 217 455 556 262 239 - - 501 - 使用権資産 償却 Right-of-use assets depreciation M.JPY 2,324 2,480 2,355 2,211 2,359 2,366 - - 4,725 - EBITDA EBITDA M.JPY 1,027 1,163 229 -310 -17 -842 - - -860 - 調整項目 Adjusted item M.JPY -2,200 -2,399 -2,220 -2,173 -2,242 -2,205 - - -4,448 - 未払有給休暇の増減額 Increase/decrease in accrued paid leave M.JPY 28 21 6 18 19 33 - - 52 - 使用権資産 償却 Right-of-use assets depreciation M.JPY 2,324 2,480 2,355 2,211 2,359 2,366 - - 4,725 - 株式報酬費用 Share-based payment expenses M.JPY 114 98 92 47 107 104 - - 211 - その他の収益 Other income M.JPY 0 17 -13 20 1 3 - - 4 - その他の費用 Other expenses M.JPY -18 -22 22 -7 -8 26 - - 18 - その他恒常的でない損益 Other non-recurring profit/loss M.JPY - - - - - - - - - - 調整後EBITDA Adjusted EBITDA M.JPY -1,173 -1,235 -1,991 -2,483 -2,260 -3,048 - - -5,308 -11,000 売上総利益率 GP margin % - - - - - - - - - - 営業利益率 OP margin % - - - - - - - - - - EBITDAマージン EBITDA margin % - - - - - - - - - - 調整後EBITDAマージン Adjusted EBITDA margin % - - - - - - - - - - 売上高販管費率 SG&A expense ratio % - - - - - - - - - -
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Copyright © PERSOL HOLDINGS CO., LTD. All Rights Reserved. 57 The statements concerning PERSOL HOLDINGS’s future business performances in this material such as earnings forecasts are based on information available as of November 11, 2025 and certain assumptions deemed to be reasonable by PERSOL HOLDINGS, and do not mean that PERSOL HOLDINGS promises to achieve these figures. Actual results may differ materially from the statements due to a variety of factors. The figures and indicators included in this material have been released to facilitate an appropriate understanding for business results and financial status of PERSOL Group. Kindly note that not all the figures and indicators have been subjected to audit and review by external auditors. Disclaimer