Sec ond Quar ter of the F isc al Year E nding May 31, 2009 Pre se ntatio n Mate rial Pasona Inc. First Section TSE, （ 2168 ） January 2009 www.pasonagroup.co.jp/ir/e
I ntroduction Regarding the current employment environment Current Status Growing anxiety toward employment Increased debate with regard to bolstering temporary staffing regulations Terminate temporary staffing in In principle ban on the dispatch the manufacturing sector of workers on a daily basis Withdrawal of employment Ban on exclusive staffing offers to fresh graduates dispatch Restructuring of full-time, Shift to full-time from temporary permanent employees Keywords Employment Mobilization of diversity human resources １ 1
1. Results for the First Half of the Fiscal Year Ending May 31, 2009 ※ Units in billions of yen have been rounded to the nearest first decimal place. Units in millions of yen have been rounded down. ※ Pasona Inc. consolidated business results for the fiscal year ended May 31, 2008 have been used for comparative purposes. 2 2
Overview of FY2009 First Half ① Temporary Staffing Number of long-term temporary staff Average contract term (Average six months) (People) Trends in Average Contract Terms and the Number 5 0 , 0 0 0 Strategies to promote long-term stability of Long-Term Temporary Staff 1 8 . 9 ● Continued decline in the number of contracts completed, 4 0 , 0 0 0 ongoing trend toward long-term temporary staffing stability 1 7 . 5 1 6 . 7 Number of contracts completed 2,666 (Down 12.9% Y-on-Y) 1 5 . 9 ※ Pasona Inc. estimate: 3 0 , 0 0 0 1 5 . 6 1 5 . 5 1 5 . 1 1 5 . 0 Average monthly number of long-term contracts completed 2Q FY2009 1 4 . 4 1 4 . 3 Effect 2 0 , 0 0 0 18.9 months ・ Reduction in recruitment expenditure (Down ¥200 mn Y-on-Y) (Down ¥340 mn A-to-P) ・ Trend toward a growth trajectory in the number of new 1 0 , 0 0 0 registrants driven mainly by word-of-mouth 0 4 / 5 0 4 / 1 1 0 5 / 5 0 5 / 1 1 0 6 / 5 0 6 / 1 1 0 7 / 5 0 7 / 1 1 0 8 / 5 0 8 / 1 1 Number of new registrants 1Q FY2009 19,366 (Down 14.8%) ※ Pasona Inc. estimate: Average contract terms after excluding the impact of special demand 2Q FY2009 22,153 (Up 1.5%) ※ Consolidated cumulative estimate (Billions of yen) Placement and Recruiting Business Sales ＋ 5.6 ％ Placement and Recruiting 2.9 2.7 Domestic Placement and Recruiting business so far steady, but signs of weakness 1.9 ● Domestic: Service area expansion Increased activities focusing on specialist and senior positions 1.4 1.3 ● Overseas: Drop in revenue due mainly to the sale of consolidated - 57.7 ％ Japan subsidiaries at the end of the previous period (approximate 0.6 impact ¥730 mn) on the back of a review of overseas businesses Overseas 0 7 / 5 / 2 Q 0 8 / 5 / 2 Q 0 9 / 5 / 2 Q 3 3
Overview of FY2009 First Half ② (Billions of yen) Strategic Priorities Outsourcing Sales Outplacement Sales Further promotion of the comprehensive and 7.5 2.9 diversified strategy 6.6 2.6 2.6 ● Strengthening of the Outsourcing and Outplacement business ＋ 13.2 ％ 4.9 ＋ 9.8 ％ Continued investment in systems and human resources ● Strengthening of the Insourcing (contracting) business Augmenting service menus through strategic alliance, increase in personnel 0 7 / 5 / 2 Q 0 8 / 5 / 2 Q 0 9 / 5 / 2 Q 0 7 / 5 / 2 Q 0 8 / 5 / 2 Q 0 9 / 5 / 2 Q Insourcing Sales Additional Menu Strengthening Existing Menu Marketing Capabilities 4.9 ● Medical examination ● Enquiry services ● Establishment of an Insourcing 4.6 ● Recruiting services management 5.1 business division ● Mental health care ● Sales consignment ● Efforts to expand consulting ＋ 6.1 ％ ● Employee education and ● Administrative support activities, fostering of human ● Call center training resources ● Salary and wages calculation ● Examination management ● Business development through agency services strategic alliance 0 7 / 5 / 2 Q 0 8 / 5 / 2 Q 0 9 / 5 / 2 Q Effect Increase in the share of sales derived outside the Temporary staffing field 2Q FY2008 15.5% 2Q FY2009 16.8% 4 4
Overview of FY2009 First Half ③ Strategic Priorities Promotion of efforts to raise business efficiency Pasona Group ● Reorganization of Group business Temporary staffing Placement Outplacement Outsourcing Other Overseas Reinforcement through business integration, enhancement of business efficiency Business Reorganization (implemented in December 2008) ● Promotion of shared services New establishment of “Pasona CIO Inc.”, a company that ● Financial Sun Inc. ⇒ Merged with Pasona Inc. oversees the IT function on a shared service basis (Strengthening temporary staffing activities in the financial sector) ● Pasona Sportsmate Inc. ⇒ Merged with Pasona Inc. Strengthening of Group collaboration ● Pasona Inc. (temporary staffing activities targeting the elderly) ⇒ Shift to Kanto Employment Creation Organization Inc. and Kansai Employment ● ＯＮ ＥＰ Ａ Ｓ ＯＮ Ａ Project Creation Organization Inc. Bolstering crosssell implementing interactive intra-group ● Pasona Europe (London) communication ⇒ Sale of all shares Effect I ncrease in Group prowess through the shift to a holding company structure 5 5
Consolidated Business Results FY2009 First Half (June 1, 2008 – November 30, 2008) ・ Drop in revenue in the Temporary staffing business due to lower demand for new personnel ・ Increase in revenues and earnings in the Outplacement and Outsourcing businesses reflecting successful efforts to promote a comprehensive and diversified human resource strategy ・ Decrease in earnings owing mainly to a substantial upswing in the cost burden associated with hikes in Temporary staffing health insurance premium payment rates, despite the implementation of initiatives to curtail overall costs (Millions of yen) (Billions of yen) Consolidated 2Q FY2008 2Q FY2009 119.5 116.1 Net Sales 119,516 116,086 （ YoY ） (2.9)% 95,169 92,888 Cost of sales (2.4)% 24,346 23,197 Gross profit (4.7)% 3.1 21,274 21,598 SG&A expenses + 1.5% 3,071 1,598 Operating income (48.0)% 1.6 3,145 1,803 Ordinary income (42.7)% 1,063 203 2Q FY2008 2Q FY2008 2Q FY2009 2Q FY2009 Net income (80.8)% Result Result Net Sales Operating income 6 6
2. Strategies for the Second Half and Forecasts of Business Results ※ Units in billions of yen have been rounded to the nearest first decimal place. Units in millions of yen have been rounded down. ※ Pasona Inc. consolidated business results for the fiscal year ended May 31, 2008 have been used for comparative purposes. 7 7
Medium-term Management Strategy Promotion Medium-term Management Strategy Build a structure and strengthen functions commensurate with efforts to become “Japan’s Personnel Department” Bring forward the implementation of a medium-term management strategy in response to sudden changes in the business environment Set up an Emergency Employment Creation Division I nnovation Program ＞ 1 Create employment Strengthen outsourcing and ＞ Total Outsourcing Program 2 Insourcing activities ＞ Self-Advancement Program Enhancing employability 3 ＞ Reorganize Group business, consolidate function Raise business efficiency 16 8 8
Growth Business Strategy: Strengthen the Outsourcing Business Enhance the quality of existing businesses, selectively concentrate management resources to growth businesses and incorporate an external growth strategy Temporary staffing business strategy 2H FY2009 Enhance matching capabilities, secure and foster human resources initiatives in preparation for FY2010 demand Strengthen clerical FY2010 (general office work) Enhance matching capabilities temporary staffing Increase in matching speed due to the full-fledged Bolster specialized Closure rate start up of new systems (technical) temporary 65 37 Upgrade and expansion of staff training menus staffing ％ ％ Introduction of a staff qualification system M&A 08/End of 2Q 09/End of 2Q Growth business strategy 2H FY2009 Strengthen the I nsourcing and Outsourcing businesses initiatives FY2010 Enhance solutions capabilities Expand and diversify Upgrade and expand solutions menus through strategic alliance the solutions menu (salary and wage calculation, training, safety net, health care) Strengthen sales agency services M&A (Tokyo Branch agency services) Human resource consultant training and personnel exchange 9 9
Strategy to Raise Business Efficiency Work to raise business efficiency by reorganizing Group businesses and consolidating functions Reorganize Group businesses 2H FY2009 Implement integration within Group segments, consolidate Group capabilities initiatives Consolidate functions FY2010 Strengthen Group businesses through office consolidation, realize cost reductions strategies ● January 2010: Establish a Group Comprehensive office, concentrate urban bases FY2010 and beyond Reduce office-related expenses Otemachi Nomura Building Integrated Group base (Otemachi) ● By February 2010: Review Group bases at 18 locations nationwide 10 16 10
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