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Temp Holdings And Intelligence To Partner Following Share Purchase From KKR

Mr. Shusaku Minoda, Managing Director and CEO of KKR Japan, said, “Over the last three years we have built a highly successful partnership with Takahashi-san and his team at Intelligence. Thanks to their incredible energy and vision, Intelligence has achieved very strong and sustained growth and profitability. The success of this partnership provides a firm foundation for our plans to further develop our business in Japan.”

1 Enterprise value is calculated as equity value plus net debt. Note: The US$ figures used in this release are approximate figures based on an exchange rate of 1 US$ = JPY 95.

During its three-year partnership with KKR, Intelligence has increased its revenues by 45%, EBITDA by 170%, and operating profit (EBIT) by 431%. The total number of employees at Intelligence also increased from 4,370 to 5,981 (by 37%).

The combination of Temp Holdings and Intelligence will have revenues of more than JPY 320 billion (US$3,370 million), EBITDA of more than JPY 21 billion (US$220 million) 2, employ more than 10,000 people, and create an industry-leading franchise that can capture expanding opportunities in the Japan and Asia HR services markets. The market for HR services in Japan has grown significantly over the last twenty-five years as traditional employment patterns evolved and developed, and companies restructure and expand globally. At the same time, as jobseekers’ awareness of opportunities expands and their career planning needs diversify, the number of people changing jobs has steadily increased. These changes have led to growing demand for a wide range of professional HR services which Temp Holdings and Intelligence together will best be able to meet.

The share transfer transaction is subject to customary closing conditions and approval by the Japan Fair Trade Committee and is expected to be completed in late April 2013, or on a date to be agreed by Temp Holdings and KKR.

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