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Open Up Group Q1 revenue climbs 17%, with profits up

Open Up Group Q1 revenue climbs 17%, with profits up

Danny Romero
| November 8, 2024

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Japanese technical staffing firm Open Up Group (2154: JP), previously known as BeNext-Yumeshin, reported revenue on 8 November of JPY 48.3 billion (USD 317.6 million) for the three-month period ended 30 September 2024, up 17% over the year.

(JPY millions)

Q1 2025

Q1 2024

Change

Q1 2025 (USD millions)

Revenue

48,366

41,329

17.0%

317.6

Gross Profit

11,727

9,730

20.5%

77.0

Gross Margin

24.2%

23.5%

-

-

Operating Profit

4,149

3,243

27.9%

27.2

Profit before tax

3,971

3,244

22.4%

26.0

Profit attributable to

owners of parent

2,387

2,276

4.9%

15.6

Revenue in the machinery, electronics and IT software segment rose by 15.2%, while revenue in the construction segment increased by 19.1%. Revenue in the overseas segment was up 18.3% over the year. The others segment includes an online programming learning service and personnel referral business, as well as various types of services. Revenue in this segment increased by 32.3%.

Looking ahead, the company forecasted revenue of JPY 193.0 billion (USD 1.26 billion) for the year ended 30 June 2025.

Open Up Group shares closed at JPY 1,940.00 (USD 12.74), down 2.22% on the day and 22.17% above the 52-week low of JPY 1,588.00 (USD 10.43) set on 5 August 2024. The company has a market cap of JPY 182.09 billion (USD 1.19 billion).