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View All NewsOpen Up Group full year revenue edges up 8.8% with profits on the rise
Japanese technical staffing firm Open Up Group (2154: JP), previously known as BeNext-Yumeshin, reported revenue last week of JPY 161.7 billion (USD 1.11 billion) for the fiscal year ended 30 June 2023, up 8.8% over the year.
This increase in revenue is attributable to the growth of the results of the machinery, electronics and IT software, construction and manufacturing segments, which more than offset the decrease in the revenue of the overseas segment.
| (JPY millions) | FY 2023 | FY 2022 | Change | FY 2023 |
| Revenue | 161,689 | 148,573 | 8.8% | 1,111.6 |
| Gross Profit | 38,800 | 34,432 | 12.7% | 266.7 |
| Gross Margin | 23.9% | 23.1% | - | - |
| Operating Profit | 12,760 | 10,103 | 26.3% | 87.7 |
| Profit before tax | 13,103 | 10,238 | 28.0% | 90.1 |
| Profit attributable to owners of parent | 9,533 | 6,975 | 36.7% | 65.5 |
On the profit side, profitability improved overall, reflecting an increase in staffing rates and the improvement of operational efficiency, as well as a rise in the composition ratio of revenues recorded by segments whose profitability was high, all of which offset an increase in recruiting costs attributable to the tight human resources market.
Looking ahead the company forecasted revenue of JPY 178.0 billion (USD 1.22 billion) for the year ended 30 June 2024.
Open Up Group shares closed on 10 August at JPY 2,147 (USD 14.76), up 0.89% on the day. The company has a market cap of JPY 191.12 billion (USD 1.31 billion).