UT Group (2146:TYO), a Tokyo-based provider of staffing for the manufacturing industry, reported net sales rose 7.1% to JPY 44.16 billion (USD 274 million) in its fiscal first quarter ended 30 June. UT Group also acquired the BeNext manufacturing staffing business during the quarter.

In discussion of results, UT Group noted the Japanese economy was recovering during its first quarter, but the transportation equipment industry had weakened. UT Group also forecast an increase in demand for workers by the semiconductor industry in the second half of the calendar year.

M&A

UT Group acquired all shares of BeNext Partners, a manufacturing staffing business owned by Open Up Group (2154:TYO) in April. The company also sold its UT Technology and UT Construction IT/construction engineer staffing businesses to Open Up Group that month.

Extraordinary income of JPY 5.9 billion (USD 36.7 million) from the sale was reported in the first quarter

The deals come after UT Group’s October 2023 acquisition of Hitachi Ibaraki Technical Service.

UT Group released earnings on 9 August. It ranks as the 10^th-largest staffing provider in Japan, according to SIA data.

UT Group Co. Ltd. - Q1 2025

Guidance

UT Group forecast net sales will rise 28.7% year over year in the full fiscal year 2025.

Share Price

Shares in UT Group rose 4.08% to JPY 2,959.00 (USD 20.17) on 9 August in Tokyo. Shares were 21.51% below their 52-week high.