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Sept. 10, 2014, 11:57 p.m. EDT

Japan’s Recruit Holdings plans $1.8 billion IPO next month

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By Atsuko Fukase and Eric Pfanner


Bloomberg

The biggest temporary staffing company in Japan, Recruit Holdings Co., said it plans a $1.8 billion initial public stock offering next month, in a bid to finance its ambition of transforming itself into the largest player in the industry worldwide.

The offering will be the latest in a series of big listings in Tokyo this year, which have included IPOs by blue-chip firms such as Japan Display Inc. /zigman2/quotes/204799605/delayed JP:6740 +3.45%  and Seibu Holdings /zigman2/quotes/206432739/delayed JP:9024 +2.86% .

Skylark Co., a Japanese restaurant-chain operator, is expected to list next month, and Line Corp., the developer of a popular smartphone messaging application, has also applied for a possible IPO.

The Recruit IPO reflects the growth of temporary employment in Japan, where two decades of economic stagnation have eroded the postwar norm of lifetime employment. A Japanese government survey last year found that the number of non-regular workers — including those working temporary or part-time schedules — had risen to more than 20 million, or 38% of the workforce, up by 1.5 million from the previous report, in 2007.

Recruit has said it wants to become the biggest human-resources firm in the world by 2020, a goal that would require it to leapfrog industry giants like Adecco SA /zigman2/quotes/201694772/delayed CH:ADEN -1.29% , Randstad Holding NV /zigman2/quotes/202421454/delayed NL:RAND -2.09%  and ManpowerGroup Co. /zigman2/quotes/200637338/composite MAN +0.27%  

An expanded version of this report appears on WSJ.com.

/zigman2/quotes/204799605/delayed
JP : Japan: Tokyo
¥ 60.00
+2.00 +3.45%
Volume: 7.56M
Sept. 18, 2020 3:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
¥49.08 billion
Rev. per Employee
¥53.48M
loading...
/zigman2/quotes/206432739/delayed
JP : Japan: Tokyo
¥ 1,259.00
+35.00 +2.86%
Volume: 2.46M
Sept. 18, 2020 3:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
¥366.46 billion
Rev. per Employee
¥23.50M
loading...
/zigman2/quotes/201694772/delayed
CH : Switzerland: SWX
CHF 51.92
-0.68 -1.29%
Volume: 7.08M
Sept. 18, 2020 5:30p
P/E Ratio
66.42
Dividend Yield
4.82%
Market Cap
CHF8.46 billion
Rev. per Employee
CHF810,479
loading...
/zigman2/quotes/202421454/delayed
NL : Netherlands: Euronext Amsterdam
45.93
-0.98 -2.09%
Volume: 698,496
Sept. 18, 2020 5:35p
P/E Ratio
29.26
Dividend Yield
0.00%
Market Cap
€8.60 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/200637338/composite
US : U.S.: NYSE
$ 70.69
+0.19 +0.27%
Volume: 2.32M
Sept. 18, 2020 4:00p
P/E Ratio
19.22
Dividend Yield
3.08%
Market Cap
$4.09 billion
Rev. per Employee
$733,040
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