TROY, Mich., Oct. 2 /PRNewswire-FirstCall/ -- Kelly Services, Inc. (Nasdaq: KELYA KELYB), a global staffing provider, today announced its purchase of the ownership share of Sony Corporation in Tempstaff Kelly, a tri- party joint venture with Tempstaff, the second largest staffing company in Japan, Sony Corporation and Kelly Services. With the purchase of Sony Corporation's 40 percent ownership share, Kelly will increase its ownership interest to 49 percent effective October 2, 2006. Financial terms of the agreement were not disclosed.
Tempstaff Kelly, headquartered in Minato-ku, Tokyo, is the first ever tri- party staffing services company in Japan. Launched in September 2005, Tempstaff Kelly provides general temporary employment, recruitment, HR consulting and outsourcing services to the Sony Corporation.
"We're pleased with the progress of our joint venture with Kelly Services and Sony during its first year of operation," said Yoshiko Shinohara, president of Tempstaff. "We welcome Kelly's purchase and are confident that our joint venture will continue to meet Sony's evolving human resource needs."
The Japanese staffing market is growing at an annual rate of 15 to 20 percent based on the strong economy. In 2004, the Japanese staffing market reached 24.5 billion dollars. It is expected to reach nearly 43 billion dollars in 2006 due to increasing demand by clients for flexible workforce solutions, and for talent in specialized and credentialed fields.
"Kelly's joint venture with Sony Corporation and Tempstaff has performed exceedingly well. We look forward to continuing our relationship with Sony and to providing staffing solutions to support their needs," said Carl Camden, president and chief executive officer of Kelly Services. "Strengthening Kelly's global presence and footprint in key Asia Pacific markets remains a central component of our strategic growth plan."
About Kelly Services
Kelly Services, Inc. is a Fortune 500 company headquartered in Troy, Mich., offering staffing solutions that include temporary staffing services, staff leasing, outsourcing, vendor on-site and full-time placement. Kelly operates in 30 countries and territories. Kelly provides employment to more than 700,000 employees annually, with skills including office services, accounting, engineering, information technology, law, science, marketing, light industrial, education, health care and home care. Revenue in 2005 was $5.3 billion. Visit http://www.kellyservices.com .
SOURCE: Kelly Services, Inc.
CONTACT: Analyst Contact: James Polehna, +1-248-244-4586, email@example.com , Media Contact: Renee Walker, +1-248-244-5362, firstname.lastname@example.org , both of Kelly Services, Inc.