Japanese technical staffing firm Open Up Group (2154: JP), previously known as BeNext-Yumeshin, reported revenue of JPY 126.66 billion (USD 813.3 million) for the nine-month period ended 31 March 2024, 13.3% higher than the year prior.

The increase in revenue primarily reflected growth in the number of employees in the machinery, electronics and IT software segment and the construction segment as well as high utilisation rates overall. It was also attributable to increased revenue in the Overseas Segment due to the impact of foreign exchange rates, among other factors.

On the profit front, gross profit and the ratio of selling, general and administrative expenses to revenue remained at normal levels.

The machinery, electronics and IT software segment, which includes the temporary staffing, contracting and consigning business for the development, design, operation and maintenance sectors of the IT software, machinery and electronics domain, saw revenue increase by 12.1%.

The construction segment saw revenue climb by 9.1%. At the same time, the manufacturing segment reported a revenue decline of 2.0%. The Overseas segment reported revenue climbed by 22.0% over the year. The Others segment reported a revenue uptick of 36.6%.

Looking ahead the company forecasted revenue of JPY 172.00 billion (USD 1.10 billion) for the year ended 30 June 2024.

Open Up Group shares closed at JPY 2,010.00 (USD 12.91), up 0.10% on the day and 16.86% above the 52-week low of JPY 1,720.00 (USD 11.04) set on 4 October 2023. The company has a market cap of JPY 184.29 billion (USD 1.18 billion).