PSA Commercial Services: Recruit Holdings (6098 JT) – Recent Decline Has Made Valuations More Attractive
Thao Nguyen discusses Recruit’s business strategies and the earnings outlook for FY22~24 and concludes that the stock is worth a revisit given the share price has declined 40% YTD, yet the firm’s growth potential remaining largely intact.Recruit Holdings is a holding company. Through its affiliates, Co. operates in four business segments: marketing media, HR media, staffing, and other. Marketing Media segment is engaged in the provision of information on housing, bridal, post-secondary education for high school students, automobiles, lodging accommodation, restaurants, and beauty salons. HR Media segment is engaged in the provision of services that offer employment information to job seekers both in Japan and overseas. Staffing segment is engaged in the provision of staffing services in Japan and overseas. Other segment is engaged in the planning, operation, outsourcing, and other of digital content services.
Founded in 2009, Pelham Smithers Associates (PSA) provides market intelligence on Asian technology, focusing in particular on Japan. The industries covered by our team of specialists are: consumer electronics, telecomms, pharmaceuticals, internet, electronic parts and materials, automotive technology, retail and capital goods.
PSA produces both company and sector reports. The focus of PSA’s research is to identify winners and losers as new technologies impact the top and bottom lines of corporations. Critical to our research is the clear explanation of how these new technologies work and how they impact companies and industries.
The founding partners have worked closely together for twenty years and the team has more than doubled in size since 2012.
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