The purpose of this study is twofold. First is to demonstrate the factor structure of subjective measures of person-environment fit (P-E fit) perceptions, especially subjective person-organization fit (P-O fit) and person-vocation fit (P-V fit). Second is to examine the effects of subjective P-O and P-V fit on the newcomers’ organizational adjustment outcomes, including organizational commitment, achievement motivation, and turnover intentions among newcomers. A confirmatory factor analysis over a sample of 202 newcomers working for Japanese firms showed that newcomers could conceptually differentiate the items of P-O fit from those of P-V fit, providing strong support for the two dimensional model of the subjective P-E fit measures among Japanese newcomers sampled. In addition, the regression results indicated that newcomers’ subjective P-O fit had significant effects on their organizational commitment and turnover intentions while their P-V fit had significant effects on their motivation and turnover intentions. Furthermore, the moderated regression analysis did indicate that there were significant interaction effects of subjective P-O and P-V fit on newcomers’ achievement motivation at work. Findings are used to discuss the role of P-O and P-V fit plays in enhancing newcomers’ organizational adjustments in Japanese firms. Limitations and the directions of future research are also discussed.