UT Group (2146:TYO), a Tokyo-based provider of staffing to the manufacturing industry, recorded record high net sales in the first six months of its fiscal year ended 30 September. However, UT Group cut its net sales growth forecast for the full year. It now forecasts full-year revenue growth of 9.6%, which is down from its previous forecast of 28.7%. The company cited less-than-expected demand in the semiconductor and automobile sectors.

Part of the reason for the first half’s increase in net sales was UT Group’s acquisition of BeNext Partners in April from Open Up Group. In turn, UT had sold an IT engineer dispatching business, UT technology, and a construction engineer dispatch company, UT Construction, to BeNext.

UT Group also noted it acquired a 51% stake in Hitachi Ibaraki Technical Service on 1 May from Hitachi.

The company also reported industrial production showed signs of recovery in electronic components and devices, but the transportation equipment industry lacked strength.

UT did forecast a recovery in demand for workers in the semiconductor manufacturing equipment segment. Worker demand had been sluggish since Autumn 2022.

UT Group Co. - H1 2025

Share Price

Shares in UT Group closed at JPY 2,637.00 (USD 17.10) on 13 November; they were 41.02% above their 52-week low.