Will Group

What Will Group does

Will Group (TSE: 6089) is a publicly traded Japanese human resources services holding company founded in 2006 and headquartered in Nakano-ku, Tokyo. The group operates 47 subsidiaries (12 domestic, 35 overseas across Singapore, Vietnam, Malaysia, and Australia) and generated ¥139.7 billion in consolidated revenue in FY2025 (ending March 2025). Its core business is staffing and HR outsourcing, organized by industry vertical through dedicated subsidiaries: WILLOF WORK handles sales outsourcing, call center, factory/manufacturing, and nursing care; WILLOF CONSTRUCTION specializes in construction management engineers and construction-industry DX (BIM/CIM); WILLOF PARTNER operates the Refcome referral-hiring cloud platform serving 850+ corporate clients; WILLOF CHALLENGE addresses challenging employment placements; and CreativeBank serves creative professionals. The company employs 7,929 consolidated permanent staff and dispatches ~13,855–14,287 temporary workers to enterprise clients.

The group's technology stack includes proprietary HR platforms — Refcome (referral hiring cloud), Learner (e-learning), WILL-Switch (90-second video learning), and the newly launched STADIV DX certification preparation app (April 2026, co-developed with VIG Co., Ltd.) for Level 1 Construction Management Engineer candidates. Will Group monetizes through five revenue streams: temporary staffing/dispatch (subscription-recurring per-worker fees), outsourcing/commissioned BPO work (managed services), permanent placement and recruitment (transaction fees), specialized construction management engineer services, and overseas HR services. The company sells primarily through direct B2B enterprise field sales in Japan and through overseas subsidiary networks in Asia-Pacific and Australia, with negotiated per-contract pricing that is not publicly disclosed.

Customer concentration spans eight+ verticals including construction, nursing care, manufacturing, call centers, sales, IT, Australian government, and Australian financial institutions, with no single customer disclosed as a dominant share. Strategic priorities include growing fixed-term-to-permanent career transitions (399 in FY2025 vs. 190 in FY2024), expanding construction DX offerings through STADIV, deepening the Asia-Pacific M&A footprint, and leveraging CEO Yuichi Sumi's June 2026 appointment as President of the Japan Staffing Services Association for industry positioning. Notable recent pressure points are a sharp FY2025 ROE decline (17.3% → 6.6%) and an 86.9% dividend payout ratio, signaling earnings compression that contrasts with maintained ¥44.0 dividend per share.

Name

Will Group

Legal name

WILL GROUP, INC.

Website

https://willgroup.co.jp

Company type

Public

Founded year

2006

Operating status

Operating

Headcount range

51–100 employees

Short description

Will Group is a Japanese public HR services holding company (TSE: 6089) operating 47 subsidiaries that provide temporary staffing, outsourcing, and permanent placement across sales, call center, manufacturing, nursing care, and construction verticals in Japan and Asia-Pacific.

Ownership category

akta.pro rank

Product category

Human Resources & Staffing Services

NAICS

Temporary Help Services (561320), Human Resources Consulting Services (541612), Professional Employer Organizations (561330)

SIC

Services-Employment Agencies (7361), Services-Management Consulting Services (8742)

akta.pro primary industry

National Generalist Staffing Firms (BPACACAI)

akta.pro secondary industries

Construction & General Labor Staffing (BPACAEAA), General Permanent Placement (Multi-Industry) (BPACAFAA)

Keywords

• Human resources services
• Temporary staffing services
• Construction engineer staffing
• Referral hiring platform
• Outsourcing solutions

Headquarters

HQ city

Tokyo

HQ country

Japan

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Temporary Staffing / Dispatch Services: Core revenue driver through WILLOF WORK and other subsidiaries placing temporary workers across sales, call centers, factories, nursing care, and construction. Revenue is generated on a per-worker, per-time-period basis from client companies. The group dispatches both permanent employees and temporary workers to client sites.
2. Outsourcing / Commissioned Work Services: Higher-margin outsourcing contracts where Will Group full-time employees (Field Supporters) and temporary staff form teams at client sites. Includes hybrid staffing models and commissioned business process outsourcing (BPO).
3. Permanent Placement / Recruitment Services: Career placement and recruitment services through subsidiaries including Will of Partner, connecting job seekers with employers across multiple sectors.
4. Construction Management Engineer Services: Specialized staffing and qualification support for construction management engineers through WILLOF CONSTRUCTION, including BIM/CIM talent services, DX support, and qualification exam preparation tools (STADIV app).
5. Overseas HR Services: HR and staffing services operated through overseas subsidiaries across Asia-Pacific (Singapore, Vietnam, Malaysia) and Australia, including specialized recruitment, executive search, and workforce solutions.

Go-to-market motion3 records

Distribution channels5 records

Marketing channels8 records

Core offering

Will Group is an HR services holding company that dispatches temporary and contract workers and provides outsourced staffing, BPO, and permanent placement services to enterprise clients through subsidiaries such as WILLOF WORK (sales, call center, factory, nursing care), WILLOF CONSTRUCTION (construction management engineers), WILLOF PARTNER (recruitment, outsourcing, and the Refcome referral hiring cloud), WILLOF CHALLENGE, and CreativeBank, with overseas operations spanning Asia-Pacific and Australia. The group also delivers proprietary HR-technology offerings including the Refcome referral hiring platform, the STADIV construction-management certification prep app, and in-house learning systems (Learner, WILL-Switch) used to train dispatched staff and client workforces.

Product overview

Will Group is a human resources services holding company operating a multi-brand portfolio of staffing, outsourcing, and HR technology solutions. The core subsidiaries include WILLOF WORK (general staffing services), WILLOF CONSTRUCTION (construction engineering specialists), WILLOF PARTNER (recruitment platforms including Refcome), and WILLOF CHALLENGE (challenging employment). The company also operates CreativeBank and international operations through WILL GROUP Asia Pacific. Recent additions include STADIV, a DX certification preparation app for construction engineers. The group provides comprehensive HR services spanning sales outsourcing, call center, factory operations, nursing care, and construction management engineering sectors, supported by internal programs like WILL Academy and Raise for employee development.

Differentiator

Problem solved

Functional benefit

Brands

• WILLOF WORK: Staffing services for sales, call centers, manufacturing, nursing care, childcare and specialized HR services
• WILLOF CONSTRUCTION
• WILLOF CHALLENGE
• WILLOF PARTNER
• WILL Academy
• BIG SMILE
• Raise
• Dream Support Program
• WILL Color
• WILL Heart Association
• STADIV

Products and services

• WILLOF WORK Staffing Services Staffing services subsidiary providing personnel for sales, call center, factory, nursing care, and other sectors. Offers specialized HR services for both workers and companies with career development support.
• WILLOF CONSTRUCTION Engineering Staffing Specialized staffing services for construction management engineers, supporting the DX transformation of the construction industry through BIM/CIM talent services and workforce solutions.
• WILLOF PARTNER Recruitment and Outsourcing Recruitment and outsourcing services subsidiary operating the Refcome cloud service platform, supporting over 850 clients with referral hiring and HR solutions.
• WILLOF CHALLENGE Workforce Solutions Subsidiary focused on challenging employment opportunities and workforce solutions for clients.
• CreativeBank Creative Staffing Creative professional staffing and placement services.
• STADIV Exam Preparation App Mobile exam-preparation app for the Level 1 Construction Management Engineer First Examination, targeting construction-industry professionals and addressing Japan's shortage of construction management engineers.
• Refcome Referral Hiring Cloud Cloud-based referral hiring platform operated by WILLOF PARTNER, helping HR professionals improve referral hiring practices through data-driven solutions.

Quantifiable outcome

• 399 career advancements from fixed-term to permanent positions (FY2025), up from 190 in FY2024. Target: 500 per year.
• +5 more outcomes

Named customers8 records

Segments8 records

Ideal customer profiles7 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• VIG Co., Ltd.coreStrategic or Co-development Partner · 31 March 2026VIG Co., Ltd. supported Will Group in launching the Level 1 Construction Management Engineer First Examination Preparation App 'STADIV.' VIG provided business launch support for the app, which officially released in April 2026. The collaboration aims to address Japan's shortage of construction management engineers and facilitate the construction industry's shift toward enhancing employee qualifications and DX adoption.

Scale indicators19 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• ManpowerGroup: Global staffing and workforce solutions provider with strong APAC presence. Comparable in business model mix of temporary staffing, permanent placement, and RPO/BPO — though at vastly larger scale.
• Hays: UK-listed specialist recruitment firm operating in 33 countries with strong APAC presence including Australia. Comparable to Will Group's professional/executive recruitment arms (especially overseas subsidiaries in Singapore and Australia).
• Adecco Group: Global staffing leader operating generalist and specialist brands (Akkodis, LHH) across 60+ countries. Provides benchmark for Will Group's overseas subsidiary network and broader portfolio strategy across APAC.
• Randstad: Dutch-based global staffing firm with significant APAC and Australian operations (Randstad, Hudson). Comparable to Will Group's Australian subsidiary portfolio (Ethos BeathChapman, Quay Appointments, u&u).
• Robert Half: Global specialized staffing firm focused on finance, accounting, technology, and office/administrative roles. Comparable business model to Will Group's specialist verticals, though concentrated in white-collar professional placements.

Direct peers

• Persol Holdings: Major Japanese staffing and HR solutions provider operating across temporary staffing, permanent placement, BPO, and IT engineering (TEKsystems). Head-to-head competitor in Japanese temporary staffing and outsourcing markets where Will Group's WILLOF WORK operates.
• World Holdings: Japanese staffing company with manufacturing-focused dispatch (World Intech), construction engineer staffing, and APAC operations. Most directly comparable to Will Group's vertical specialization strategy, particularly WILLOF CONSTRUCTION.
• Recruit Holdings: Japan's largest HR services holding company operating Indeed, Staffing (Recruit Staffing, RGF Staffing), and HR technology. Directly competes with Will Group across Japanese staffing verticals and is the benchmark Japanese HR services consolidator.
• Outsourcing Inc. Japanese staffing and outsourcing firm with strong presence in technical/manufacturing sectors and overseas operations (primarily in APAC). Comparable to Will Group's mix of domestic temporary staffing and overseas HR services.

Regional players

• Seek Limited: Australia-focused online employment marketplace and owner of SEEK, Jobsdb (APAC), and various HR-related businesses. Overlaps with Will Group's Australian staffing subsidiaries (Ethos BeathChapman, Quay Appointments, u&u, DFP Recruitment) as both compete for Australian HR services spend.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks2 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/@%E3%82%A6%E3%82%A3%E3%83%AB%E3%82%B0%E3%83%AB%E3%83%BC%E3%83%97%E6%8E%A1%E7%94%A8/featured
• Instagraminstagram.com/willgroup_recruit
• Xx.com/willgroupsaiyou

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries16 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments12 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Will Group