Open Up Group (2154) Q3 2025 earnings summary

Executive summary

• Q3 revenue increased by 10.0% YoY, operating profit rose 5.4%, and the number of engineers grew by 3,966 YoY.

• Revenue for the nine months ended March 31, 2025, rose 15.9% YoY to ¥146,806 million, driven by growth in Machinery, Electronics and IT Software, Construction, and Overseas segments.

• Business profit increased 11.3% YoY to ¥12,313 million, and profit attributable to owners of parent rose 6.3% to ¥8,735 million.

• Sale of the UK business refocused the portfolio on engineering, with gains from the sale offsetting lost gross profit and costs.

• Integration of Open Up Technology completed; machinery and electronics segment stable with improved hiring and turnover.

Financial highlights

• Q3 revenue: ¥45.77bn (+10.0% YoY); gross profit: ¥11.61bn (+11.7% YoY); operating profit: ¥3.94bn (+5.4% YoY).

• Operating profit for the nine months was ¥12,909 million, up 10.8% YoY.

• Gross profit increased to ¥36,366 million from ¥30,909 million a year earlier.

• Basic earnings per share rose to ¥100.55 from ¥94.86 in the prior year period.

• Net income for Q3: ¥2.85bn (+1.3% YoY); gross margin improved to 25.4%.

Outlook and guidance

• Full-year revenue forecast: ¥185bn (progress rate 79.4%), up 6.8% YoY.

• Business profit projected at ¥15,200 million (up 6.3%), and profit attributable to owners of parent at ¥11,000 million (down 6.5%).

• Dividend to increase by ¥10 to ¥75 per share, payout ratio expected at 57.8%.