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Randstad acquires 10% stake in Japanese FujiStaff

Randstad acquires 10% stake in Japanese FujiStaff
Randstad Holding nv has announced it has agreed with the founding shareholders of the Japanese HR services company FujiStaff Holdings, Inc. to purchase a 10% stake in the share capital of the company, for an amount of approx. 12.3 million in a private transaction. FujiStaff is listed on the Japanese stock exchange and ranks number 6 in the Japanese staffing market. In the fiscal year ending March 2008, Fujistaff generated revenue of about 700 million. Fujistaff employs approximately 2,400 employees and works from 130 locations.
The participation in the share capital strengthens the ties between Randstad and FujiStaff. Earlier this year the two companies launched a joint project, the Global Staffing Research Center, to survey and analyze the significance of HR services businesses in the labor market.
The Japanese staffing market is the third largest in the world. Randstad entered the market in 2006 with a branch in Tokyo and now offers temporary & permanent placement, contract staffing and inhouse services. Through the merger with Vedior, operating companies like Vedior Career (permanent and outplacement), Supernurse (healthcare), Frontier and Vedior Contec (real estate & construction industry) have been added to the portfolio in Japan.The deal will not have any material effect on Randstad's financial ratios or earnings per share.

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