The 791 million Australian dollar ($US 618 million) purchase will mark the biggest investment yet by the Japanese staffing company, recently renamed from Temp Holdings. Persol hopes to quickly cement its foundation in Asia, President Masamichi Mizuta told a news conference.
Programmed was looking for ways to grow beyond Oceania, while Persol was seeking to go on the offensive in Asia outside Japan, so their interests meshed.
Winning over American partner Kelly Services, among other steps, took some time. But a basic agreement was reached in June, kicking off an asset appraisal. A price was set without resistance from either side. Programmed's management team will stay on.
By bringing together the duo's marketing and information networks, Persol aims to secure a solid pool of Asian talent as well as a customer base.
Persol is empowered by the tailwind blowing in Japan's staffing sector amid labor shortages and the government-led push to reform work styles.
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