Open Up Group (2154) Q4 2025 earnings summary

Executive summary

• Operating profit rose 13.6% year-over-year to ¥16,244 million, driven by a gain on the sale of the UK business despite associated costs and lost gross profit.

• Revenue increased 8.5% year-over-year to ¥187,954 million, offsetting the UK business sale with organic growth and M&A, mainly in domestic segments.

• The number of engineers grew 7.8% year-over-year, reaching 24,466 at year-end.

• Major acquisitions included Ophiuchus Invesco Co., Ltd. (IR Inc.), while BeNEXT UK Holdings Limited was divested.

Financial highlights

• FY2025 revenue: ¥187.95 billion (+8.5% YoY); gross profit: ¥47.41 billion (+12.9% YoY); operating profit: ¥16.24 billion (+13.6% YoY); net income: ¥12.56 billion (+6.7% YoY).

• Gross margin improved to 25.2%; operating margin reached 8.6%; net margin at 6.7%.

• Basic earnings per share rose to ¥144.56 from ¥135.76 year-over-year.

• Total assets increased to ¥122,702 million, and equity attributable to owners of parent rose to ¥78,835 million.

• Cash and equivalents at year-end were ¥20.35 billion, down ¥1,152 million from the previous year.

Outlook and guidance

• FY2026 revenue forecast: ¥171.0 billion (−9.0% YoY) due to the UK business sale; operating profit forecast: ¥16.5 billion (+1.6% YoY); net income forecast: ¥11.8 billion (−6.0% YoY).

• Operating profit margin expected to approach 10% as structural reforms and retention initiatives take effect.

• Engineer headcount projected to rise to 25,200 (+3.0% YoY).

• The period is positioned as an investment phase, focusing on management reforms and growth initiatives.