The Adecco Group reported Q1 2026 revenue of €5.65 billion, up 5.3% organically on a trading-days-adjusted basis and up 2% on a reported basis, with EBITA excluding one-offs up 24% year on year to €148 million. The core Adecco brand grew 7% organically, Akkodis was down 1%, and LHH declined 1% organically and 9% on a reported basis. Within LHH, Asia-Pacific revenue fell 4% as Australia dropped 20%, but Japan grew 5% following a strategic expansion in consulting. LHH's career transition and mobility business rose 5% and the coaching and skilling unit grew 6%, with Ezra up 35%.
Brunel International N.V. held its Capital Markets Day in Amsterdam on 12 May 2026, with CEO Peter de Laat describing the company as at an inflection point after returning to organic growth in the first quarter. Management set out a strategy built on three value drivers: deeper exposure to structurally growing end-markets such as the energy transition, power-grid investment and defence; a strengthened commercial approach aimed at winning market share; and the rollout of higher-value services and AI-driven capabilities. The company also presented an updated capital-allocation framework and medium-term financial targets. Brunel's Asia region includes its Japan operations.
Brunel International N.V. reported Q1 2026 revenue of €298.9 million, down 4% on a reported basis but up 1% organically — its first quarter of organic growth after a prolonged decline. Gross profit was €53.4 million, down 5% reported and down 1% organically, while operating costs fell 5% following the 2025 cost-reduction programme. Underlying EBIT was €7.9 million, up 5% organically, with the margin steady at 2.7%. Every region except the Netherlands contributed to organic growth, and global renewables revenue rose 38% organically. Brunel's Asia segment, which includes Japan, was among the regions contributing to the quarter's organic growth.
Robert Half Inc. reported Q1 2026 global enterprise revenue of $1.30 billion, down 4% on a reported basis and down 6% on a billing-day-and-currency-adjusted basis. International staffing revenue edged up 0.4% adjusted, helped by Protiviti +8.1%; international temp staffing fell 3.4% and perm placement was down 0.9%. Talent Solutions delivered a second consecutive quarter of positive sequential growth on a same-day constant currency basis, with management citing strengthening trends through the quarter into early April. Net income was $14 million, or $0.14 per diluted share. Q2 2026 revenue guidance is $1.275–$1.375 billion.
Hays plc reported group like-for-like net fees down 8% YoY for the three months ended 31 March 2026, with Asia +8% led by Japan +33% on temp and contracting growth and an easier comparable. Engineering and technology contracting in Japan grew at over 40% YoY. Mark Dearnley remains interim CEO following the late-February departure of Dirk Hahn for personal reasons; the board is searching for a permanent successor. The group has incurred roughly £20 million of exceptional restructuring costs to date.
ManpowerGroup reported Q1 2026 revenue of $4.5 billion, up 3% in constant currency. The Asia Pacific Middle East segment grew 8% in constant currency to $510 million; Japan, which represented 57% of segment revenue, was up 4% on a days-adjusted constant currency basis. Adjusted EBITDA margin was 1.4%. The company announced a multi-year transformation programme targeting $200 million in permanent annual cost savings by 2028, anchored on a back-office redesign starting in Europe and a front-office programme starting in North America.
Robert Walters plc reported Q1 2026 group net fees of £65.2 million, down 2% in constant currency — the smallest decline after eleven consecutive quarters of double-digit drops. Asia Pacific net fees rose 4%, led by Japan at +13%, driven by stronger permanent placement productivity. CEO Toby Fowlston attributed the Japan recovery to actions taken in late 2025 to improve perm performance. Recruitment outsourcing returned to growth (+13%) for the first time since late 2022. Full-year 2026 guidance was unchanged.
PageGroup plc reported Q1 2026 group gross profit of £187.0 million, down 4.9% in constant currency. Asia Pacific grew 9.3% with Japan +17%, Mainland China +21%, and India +10% — a sixth consecutive quarter of US growth and a fourth consecutive quarter of Asia growth. EMEA fell 9.2% (France -14%, Germany -7%, Netherlands -26%) and the UK declined 11.4%. Fee earner headcount in Asia Pacific increased by 58 in the quarter while EMEA and the UK saw 80 fee-earner reductions (per PageGroup Q1 2026 trading update). Net debt was around £7 million at quarter-end versus £31 million net cash at year-end 2025, reflecting seasonal bonus payments.
Recruit Holdings (TSE: 6098) completed the transfer of RGF International Recruitment Holdings (RIR) and RGF Talent Solutions Japan K.K. to Fullcast Holdings (TSE: 4848) on 1 April 2026 for a combined ¥1.2 billion. Recruit cited a strategic decision to refocus its placement business on AI- and machine-learning-driven domestic offerings in Japan. RGF Executive Search Japan continues to operate from Toranomon and Osaka under existing leadership.
Robert Walters plc announced two senior executive changes effective March 2026. David Bower retired after 20+ years with the group; Jonathan Solesbury (ex-SABMiller, C&C, Aryzta, Greencore) joined as interim CFO. Separately, Stephen Tincknell — a 20-year Robert Walters veteran across CSTO, CCO and CMO roles — was appointed Chief Operating Officer, charged with customer experience and operations.
SThree plc reported Q1 FY26 (three months ended 28 February 2026) group net fees of £71.7 million, down 8% YoY. Japan surged 57% to £3.3 million and the United States rose 8% to £19.5 million, partially offsetting Netherlands -28%, Germany -11%, and the UK -17%. Contract net fees, 83% of group, fell 10%. Separately, Andrew Beach will step down from the board at the 29 April AGM; Damian Fehrenberg, Senior Vice President Finance USA, becomes interim CFO from 30 April pending an external search for a permanent successor. SThree owns the Computer Futures, Real Staffing, Huxley, Progressive, and Global Enterprise Partners brands operating in Japan via SThree K.K.
Korn Ferry reported Q3 FY26 (three months ended 31 January 2026) fee revenue of $717.4 million, up 7% YoY (4% in constant currency) — the firm's fifth consecutive quarter of accelerating growth. Executive Search led with +13%, while Professional Search & Interim and Consulting each grew 5%. APAC fee revenue declined 2% as Executive Search growth was offset by softness in other solutions; EMEA grew 13%. Net income attributable to Korn Ferry rose 12% to $65.3 million; adjusted EBITDA margin was 17.2%. The board declared a 15% dividend increase and guided Q4 FY26 fee revenue to $730–750 million.
Effective 2 March 2026, James Milligan was appointed Global Head of Consultancy at Robert Walters, reporting to the Global MD of Consultancy & EMEA Outsourcing. The role centralizes the group's consultancy advisory across markets including Japan.
Hays plc announced that CEO Dirk Hahn had stepped down with immediate effect for personal reasons after 28 years at the company, having returned in early January from medical leave following surgery in November 2025. Chief Digital and Technology Officer Mark Dearnley was appointed interim CEO; Non-Executive Chair Michael Findlay will work with Dearnley while a permanent successor is sought. The company reported H1 FY26 (six months ended 31 December 2025) net fees of £453.3 million, down 9% LFL — Permanent -14%, Temp & Contracting -7% — operating profit before exceptionals down 25% to £20.1 million, and an £8.8 million exceptional restructuring charge. Hays generated £15 million in annualised savings during H1 toward a £45 million target by FY29.
The Adecco Group reported FY2025 organic revenues up 1.3% on a trading-days-adjusted basis, with Adecco GBU +2.5%, Akkodis -4%, and LHH flat. Q4 saw Adecco grow 4.9%, with strong contributions from Iberia, the Americas and APAC. LHH's full-year EBITA margin was 8.9%, up 150 basis points, with continued leadership in career transition and significant growth at Ezra. Group operating income was €572 million (+8% in constant currency); net income was €295 million. The board proposed a dividend of CHF 1.00 per share, with a cash-or-shares option, and is targeting a net debt/EBITDA ratio of 1.5x or less by end-2027.
Brunel International N.V. reported FY2025 revenue of €1.22 billion, down 11% reported and 7% organically, with full-year underlying EBIT down 35% to €38.2 million. Q4 2025 revenue was €300.4 million (-10% reported, -4% organic). Operating costs declined 12% YoY for the full year, with the cost-savings programme expanded from €10 million to €20 million annually, partly to be reinvested in sales and recruitment capabilities. The company proposed a €0.06 ordinary dividend plus a €0.29 super dividend per share. CEO Peter de Laat will present an updated strategy on 12 May 2026. Brunel's Asia segment, which includes Japan, has been pressured by project delays in fabrication yards across the region.
Just Search Group officially launched as the parent company for specialist executive search brands serving the Japan market. The group encompasses Just Legal, the legal recruitment firm established in 2014, and a newly formed Just HR division dedicated to HR executive search and led by co-founder and Managing Director Jason Lewis. Group CEO Paul Cochrane, formerly a lawyer and a 19-year veteran of Tokyo recruitment, also leads Definitive Consulting Japan, which focuses on senior-level legal partner appointments. The group is headquartered at 6-3-1 Akasaka, Minato-ku, Tokyo.
JAC Recruitment Co., Ltd. (TSE Prime: 2124) reported record FY2025 results for the year ended 31 December 2025: revenue of ¥46.08 billion (+17.7% YoY) and profit of ¥8.4 billion (+49.7% YoY), both above initial forecasts. Operating income rose 28.5% YoY as cost growth was held below gross profit growth. The FY2025 dividend (DPS) is ¥36, up ¥10 YoY, for a 68.5% payout ratio. From FY2026, the dividend policy targets a payout ratio of at least 65%, with interim and year-end payments. FY2026 guidance: operating income ¥12.6 billion and EPS ¥54.18, with planned consultant headcount expansion of 362 per JAC Recruitment FY2026 guidance.
Fullcast Holdings (TSE: 4848) reported full-year FY2025 revenue of ¥77.22 billion, up 12.6% YoY. Operating profit reached 95.1% of the company's full-year forecast, falling short of guidance, attributed to upfront M&A-related costs and restaurant-business store openings. The FY2026 outlook of ¥104.7bn (+35.6%) reflects the integrated RIR business plus the Entry Inc. acquisition.
Randstad N.V. reported Q4 2025 revenue of €5.81 billion, down 2.1% organically per working day. Asia Pacific organic revenue rose 1%, with Japan +6% (digital engineering +7% specifically), India +10%, and Australia/New Zealand -7%. Full-year 2025 revenue was €23.07 billion, down 2% organically. Randstad delivered over €100 million in net structural savings in 2025 and proposed a €1.62 dividend per share. The company also appointed David Koker — formerly head of revenue growth at Booking.com — as its first Chief Digital Growth Officer.
SThree plc reported FY25 (year ended 30 November 2025) group net fees down 12% in constant currency, with the rate of decline narrowing through the year. Two regions delivered growth: the United States (+4% CC) and Middle East & Asia (+2% CC). The permanent business declined 9% in constant currency, an improvement on the prior year, driven by growth in both the US and Japan. FY25 profit before tax was expected to be in line with September 2025 guidance of approximately £25 million; the FY26 PBT guide is around £10 million.
Spencer Stuart released the 2025 Japan Board Index, an analysis of the boards of companies listed on the Nikkei 225 and TOPIX 100 indexes alongside comparative data from other markets. The index is one of the firm's recurring research outputs from its Tokyo office. Spencer Stuart's Japan business is led by Nobuyuki Tsuji, who is also a member of the firm's Industrial and Technology, Media & Telecommunications practices.
Recruit Holdings disclosed via TSE Securities Listing Regulations that Recruit Co., Ltd. would transfer all shares of RGF International Recruitment Holdings (RIR) to Fullcast Holdings for ¥609 million, with closing on 1 April 2026. RGF Talent Solutions Japan was disclosed as a concurrent transfer at undisclosed value (combined deal subsequently confirmed at ¥1.2bn).
Robert Walters plc reported Q4 2025 specialist recruitment results showing Asia-Pacific net fee income down 11% YoY, with Japan, the firm's single largest market, down 10% — stronger temp performance offset by weaker perm. Group monthly cost-base run rate exited 2025 below £24 million versus £25–26 million twelve months earlier. The company ended 2025 with net cash of £26 million and reaffirmed progress toward at least £10 million of annualised structural cost savings by 2027. For 2026, the company started the year assuming group net fee income would be slightly below 2025.
Hays plc announced that CEO Dirk Hahn returned to work on 5 January 2026 from a short period of medical leave following surgery in November 2025. During the absence, Group Chair Michael Findlay served as Executive Chair, working with the wider management team to maintain continuity on strategic and commercial priorities. Hahn subsequently stepped down for personal reasons on 27 February 2026; see entry on that date.
Egon Zehnder, the Swiss-headquartered global retained executive search firm, opened a Kyoto office in early 2026 — its second Japan location, complementing the Tokyo office that opened in 1972 (the firm's first non-European location). The Kyoto office is positioned to serve Western Japan clients in advanced manufacturing, technology, life sciences, and academic institutions.
Heidrick & Struggles International, Inc. completed its previously announced acquisition by a consortium led by Advent International and Corvex Private Equity, with strategic investors including Salem Capital Management, Mousse Partners, TF Cornerstone, HighSage Ventures, and Barcliff Partners. The all-cash transaction valued the company's equity at approximately $1.3 billion ($59.00 per share — a roughly 26% premium to the 90-day volume-weighted average). Heidrick's common stock ceased trading on the Nasdaq Global Select Market on closing. CEO Tom Monahan and President Tom Murray remain in their roles; Carmine Di Sibio (former Global Chair and CEO of EY, Advent Operating Partner) was appointed Chairman of the Board of Managers. The Tokyo office continues to operate under the Heidrick & Struggles name and brand.
Heidrick & Struggles International reported Q3 2025 net revenue of $322.8 million, up 15.9% YoY, with growth in all three lines of business: Executive Search +17%, On-Demand Talent +10.1%, Heidrick Consulting +17.6%. Adjusted EBITDA was $34.2 million (10.6% margin). Asia Pacific Executive Search net revenue declined 3.9% YoY for the quarter. The board declared a $0.15 per-share dividend. The company did not host an earnings conference call given the pending take-private transaction announced 6 October 2025.
Heidrick & Struggles International announced a definitive agreement under which a consortium led by Advent International and Corvex Private Equity, including several family offices, would acquire all of the company's outstanding public shares for $59.00 per share in cash — approximately $1.3 billion in equity value and a roughly 26% premium to the 90-day volume-weighted average price. The Heidrick board unanimously approved the transaction. CEO Tom Monahan and President Tom Murray were to continue heading the company; Heidrick's headquarters and brand were to remain in Chicago. Closing was expected by Q1 2026 subject to shareholder and regulatory approvals.
en world Japan K.K. (parent: en-japan inc., TSE Prime: 4849) appointed Yusuke Yamamoto as President effective 1 August 2025. Yamamoto previously held senior roles at Google Japan (Brand & Reputation Marketing, Women Will, Grow with Google), and earlier at Twitter Japan during its market entry. He succeeds Kim Tae Ho.
Korn Ferry reported Q4 FY25 (three months ended 30 April 2025) fee revenue of $712.0 million (+3% reported, +4% in constant currency) and full-year FY25 fee revenue of $2,730.1 million, down 1% in both reported and constant currency. Q4 Executive Search fee revenue rose 14%. Adjusted EBITDA margin was 17.0% for the full year, up 220 basis points YoY. Net income attributable to Korn Ferry was $246.1 million (9.0% margin) for the full year, up 290 basis points. RPO fee revenue increased on new client wins and rising demand from existing clients in North America and Asia Pacific.
Randstad reported Q4 2024 revenue of €6.08 billion, down 5.5% on an organic per-working-day basis. Total Asia Pacific revenue declined 3%; in Japan, revenue was flat, with operational down 3% and digital up 16%. Full-year 2024 revenue was €24.12 billion, down 7% organically. The company highlighted progress on its specialisation framework, talent and delivery centre expansion, and the Randstad Talent Platform rollout.
Morgan McKinley celebrated 20 years in Tokyo on 6 February 2025 at The Executive event venue. The firm recognized Yoshiki Kumazawa (Director, FS Front Office; founding member) for 20 years and Tsuguo Kohno (Senior Executive Director, Asset Management & Private Banking) for 19 years.