Recruit Group acquires one of India's largest executive search firms

Aug. 13, 2013
Recruit Holdings Co., Ltd.

Recruit Holdings Co., Ltd. (Headquarters: Chiyoda-ku, Tokyo; President and Representative Director, CEO: Masumi Minegishi; hereinafter "Recruit") today announced that Recruit, through its wholly-owned subsidiaries RGF Hong Kong Ltd. (Headquarters: Hong Kong; President: Takashi Kuzuhara) and RGF HR Agent Singapore Pte. Ltd. (Headquarters: Singapore; President: Takashi Kuzuhara), has reached an agreement to acquire 100% of the shares of NuGrid Consulting Private Limited ("NuGrid"), one of the largest executive search firms in India. This share acquisition will make NuGrid a wholly owned subsidiary of Recruit. Following the acquisition, NuGrid will be renamed RGF Executive Search India Private Limited.

1.Purpose of the acquisition

Recruit has been developing its services and operations with the aim of becoming the "No. 1 global integrated HR service provider," offering a full line-up of services (permanent placement, temporary staffing, and online HR) catered to both employers and job seekers globally and providing a wide variety of employment opportunities to users worldwide.

In 2007, Recruit launched its first international HR service, mainly for introducing job candidates to Japanese companies in Asia, operating under the RGF HR Agent brand. To further provide the best opportunities to local subsidiaries of Western companies, local companies, and local job seekers, Recruit acquired full ownership of Bo Le Associates Group Limited, a major placement firm with a large presence in China and Southeast Asia, in April 2013. As of July 30, 2013, Recruit has expanded its operations to 21 cities and 9 countries/regions in Asia.

In India, Recruit has been operating in Delhi, Mumbai, and Bangalore under the RGF brand since 2011. NuGrid is an India-based integrated recruitment services provider serving the leadership and staffing requirements of corporate clients since 1998 through the following vehicles: (a) Stanton Chase, a market leading top-end executive search firm; (b) NuGrid, a premier high-value selection and search service provider and (c) Orane, a volume-based selection unit for entry-level managers. NuGrid currently operates seven offices, in Mumbai, Delhi, Bangalore, Chennai, Hyderabad, Pune, and Kolkata. Through this extensive network of offices in major cities in India, NuGrid offers executive search services for department heads and senior management positions in a wide range of industries including manufacturing, healthcare, IT, infrastructure, and real estate.

NuGrid's assets include long-term, highly experienced staff, strong relationships with local company executives, and a database of job seekers. This acquisition will combine NuGrid's assets with Recruit's extensive HR service expertise to contribute to the future growth of Recruit in India, which together with China is considered to be a key strategic area in the overall Asia HR services market.

With this acquisition, Recruit will strengthen its presence in India and its ability to offer high-quality placement services in tune with a wide variety of needs throughout all of Asia, delivering tailored services for each individual to "Meet Your Opportunity" across the globe.

2.Overview of NuGrid

(1) Company name NuGrid Consulting Private Limited
(2) Representative Suresh Ramarao
(3) Headquarters 401,4th Floor, Samarpan Complex, New Link Road, Chakala, Andheri (East), Mumbai-400 099, Maharashtra, India
(4) Established 1998
(5) Number of employees 70 (as of April 1, 2013)
(6) Main business Executive search services

3.Overview of Recruit Group

(1) Company name Recruit Holdings Co., Ltd.
(2) Representative Masumi Minegishi, President and Representative Director, CEO
(3) Headquarters 1-9-2 Marunouchi, Chiyoda-ku, Tokyo
(4) Incorporated August 26, 1963
(5) Capital JPY 3,002.64 million
(6) Consolidated Sales JPY 1,049,224 million (for fiscal year ended March 31, 2013)
(7) Group employees 25,518 (as of April 1, 2013)
(8) Main business Provider of products and solutions related to HR, education & learning info, housing info, bridal info, travel/hotel booking, restaurant info, beauty salon booking, daily deal and other areas

Appendix: Recruit Group's international development in HR services

BusinessBrandOperating area
Permanent placement RGF HR Agent China; Hong Kong; Singapore; India; Vietnam; Indonesia
RGF Executive Search 7 cities in India; Singapore; Vietnam
Bó Lè 9 cities in China; Hong Kong; Taiwan; Singapore; Malaysia; Thailand; Vietnam; Philippines; Indonesia
BRecruit 9 cities in China; 2 cities in Indonesia
Temporary staffing CSI US
Advantage Resourcing US, UK, Australia
Online HR 51job China
indeed More than 50 countries/regions worldwide
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