Open Up Group Inc. (2154) AI Stock Analysis

• Market Cap: ¥168.26B
• Dividend Yield: 4.01%
• Average Volume (3M): 225.52K
• Price to Earnings (P/E): 12.4
• Beta (1Y): 0.57
• Revenue Growth: 0.27%
• EPS Growth: 9.15%
• Country: JP
• Employees: 32,739
• Sector: Industrials
• Sector Strength: 72
• Industry: Staffing & Employment Services
• EPS (TTM): 32.40
• Shares Outstanding: 91,813,675
• 10 Day Avg. Volume: 183,630
• 30 Day Avg. Volume: 225,516
• PEG Ratio: 1.83
• Price to Book (P/B): 1.88
• Price to Sales (P/S): 0.79
• P/FCF Ratio: 11.09
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 80 Outperform
• Price Target: ¥2,110.00 ▲(14.61% Upside)

Open Up Group Inc. scores well due to its strong financial performance and attractive valuation. The technical analysis supports a bullish outlook, with the stock trading above key moving averages. The absence of earnings call data and corporate events does not detract from the overall positive assessment.

Positive Factors

Cash Flow Growth

The significant growth in free cash flow indicates strong cash generation ability, providing the company with the flexibility to invest in growth opportunities and manage financial obligations effectively.

Low Leverage

Low leverage enhances financial stability and reduces risk, allowing the company to navigate economic fluctuations more effectively and invest in strategic initiatives without the burden of high debt.

Strong Profitability

Strong profitability margins suggest efficient operations and the ability to maintain pricing power, which supports long-term financial health and competitiveness in the market.

Negative Factors

Revenue Decline

A decline in revenue can signal challenges in market demand or competitive pressures, potentially impacting future growth and profitability if not addressed through strategic initiatives.

Cash Conversion Efficiency

Suboptimal cash conversion efficiency may limit the company's ability to fully capitalize on its earnings, affecting its capacity to fund operations and growth initiatives without external financing.

Revenue Contraction

Revenue contraction poses a risk to sustained growth and market position, necessitating strategic adjustments to regain momentum and ensure long-term viability.

Open Up Group Inc. Business Overview & Revenue Model

Company Description

BeNext-Yumeshin Group Co. engages in engineer dispatching, subcontracting, outsourcing, and recruiting business for the technology and manufacturing fields in Japan and internationally. It is also involved in the development of automotive software; and dispatching, placement, and introduction of personnel. In addition, the company offers employment for disabled people. The company was formerly known as BeNEXT Group Inc. and changed its name to BeNext-Yumeshin Group Co. in April 2021. BeNext-Yumeshin Group Co. was founded in 1959 and is based in Tokyo, Japan.

How the Company Makes Money

Open Up Group Inc. generates revenue primarily through a multi-faceted business model that includes software licensing, subscription services, and consulting fees. The company offers its proprietary software solutions on a subscription basis, allowing clients to access ongoing updates and support while ensuring a steady stream of recurring revenue. Additionally, Open Up Group provides consulting services to help organizations implement and optimize their digital strategies, which contributes to its revenue through one-time project fees. Strategic partnerships with key players in the technology and finance sectors further enhance its market reach and create additional revenue opportunities through joint ventures and collaborative projects.

Open Up Group Inc. Financial Statement Overview

Summary

Open Up Group Inc. demonstrates strong financial health with efficient cost management and a solid capital structure. Despite a decline in revenue growth, the company maintains profitability and cash flow generation. The low leverage and strong return on equity are positive indicators, but attention should be paid to the declining revenue trend.

Income Statement

Open Up Group Inc. shows a strong gross profit margin of approximately 24.5% in TTM, indicating efficient cost management. However, the net profit margin has slightly decreased to 6.35% from 6.79% in the previous year, reflecting some pressure on bottom-line profitability. The revenue growth rate is negative at -2.8% TTM, suggesting a decline in sales, which is a concern. Despite this, EBIT and EBITDA margins remain stable, showcasing operational efficiency.

Balance Sheet

The company maintains a low debt-to-equity ratio of 0.067, indicating a conservative approach to leverage. Return on equity is robust at 16.64%, reflecting strong profitability relative to shareholder equity. The equity ratio stands at a healthy level, suggesting a solid capital structure with a significant portion of assets financed by equity.

Cash Flow

Operating cash flow to net income ratio is strong, indicating effective cash generation from operations. Free cash flow growth is positive at 9.5%, showing improvement in cash generation. However, the operating cash flow has decreased compared to the previous year, which could impact future liquidity if the trend continues.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	187.95B	187.95B	173.22B	150.70B	148.57B	98.89B
Gross Profit	47.41B	47.41B	42.00B	34.79B	34.43B	19.27B
EBITDA	18.69B	18.72B	16.87B	14.72B	13.43B	-23.08B
Net Income	12.56B	12.56B	11.77B	9.53B	6.97B	-27.12B
Balance Sheet
Total Assets	122.70B	122.70B	116.57B	101.49B	96.52B	129.37B
Cash, Cash Equivalents and Short-Term Investments	20.35B	20.35B	21.51B	16.08B	12.40B	21.09B
Total Debt	5.03B	5.03B	1.64B	1.53B	1.85B	11.20B
Total Liabilities	43.83B	43.83B	43.22B	36.48B	33.18B	33.21B
Stockholders Equity	78.83B	78.83B	73.20B	64.96B	63.31B	96.03B
Cash Flow
Free Cash Flow	13.39B	13.39B	18.45B	14.87B	14.94B	3.20B
Operating Cash Flow	14.16B	14.16B	19.18B	15.60B	15.50B	3.51B
Investing Cash Flow	-5.56B	-5.56B	-5.03B	611.00M	-2.16B	-1.38B
Financing Cash Flow	-9.68B	-9.68B	-8.89B	-12.67B	-22.05B	-6.58B

Open Up Group Inc. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1841.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:2154, the sentiment is Positive. The current price of 1841 is above the 20-day moving average (MA) of 1832.80, above the 50-day MA of 1771.10, and above the 200-day MA of 1736.15, indicating a bullish trend. The MACD of 23.14 indicates Positive momentum. The RSI at 62.30 is Neutral, neither overbought nor oversold. The STOCH value of 71.52 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:2154.

Open Up Group Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
9744	85 Outperform	¥276.33B	19.70	28.98%	5.57%	4.09%	17.10%
2154	80 Outperform	¥168.26B	12.44	―	4.01%	0.27%	9.15%
2146	79 Outperform	¥122.83B	20.73	―	7.51%	8.28%	-36.32%
2124	76 Outperform	¥175.56B	21.77	―	2.38%	20.17%	32.32%
4848	72 Outperform	¥59.44B	11.02	―	3.66%	3.47%	-0.05%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
2168	42 Neutral	¥76.69B	-9.83	-6.02%	0.77%	-9.70%	-108.59%

Open Up Group Inc. Corporate Events

Open Up Group Lifts Engineer Headcount and Utilization Rates in November

Open Up Group reported that its total domestic engineer headcount rose to 24,446 at the end of November 2025, up 82 month-on-month and 295 year-on-year, with the overall utilization rate improving to 94.6%. The machinery, electric and IT segment led the gains with 15,689 engineers and a utilization rate of 95.4%, reflecting particularly strong demand compared with the same period last year, while the construction engineer division reached 8,757 staff with a slightly lower utilization of 93.3%, down versus November 2024, suggesting a more moderate environment in construction-related projects. These metrics, which the company discloses monthly, underscore continued expansion of its engineering workforce and generally high deployment levels, supporting its earnings potential and reinforcing its position as a major player in Japan’s technical staffing market.

The most recent analyst rating on (JP:2154) stock is a Buy with a Yen2110.00 price target. To see the full list of analyst forecasts on Open Up Group Inc. stock, see the JP:2154 Stock Forecast page.

Open Up Group Inc. Issues First Unsecured Bonds Worth JPY 5 Billion

Open Up Group Inc. has announced the issuance of its first unsecured bonds, totaling JPY 5 billion, with a maturity date set for December 11, 2028. This move is expected to impact the company’s financial operations by providing additional capital, potentially enhancing its market position and offering new opportunities for stakeholders.

The most recent analyst rating on (JP:2154) stock is a Buy with a Yen1951.00 price target. To see the full list of analyst forecasts on Open Up Group Inc. stock, see the JP:2154 Stock Forecast page.

Open Up Group Inc. Expands Workforce and Improves Utilization Rates

Open Up Group Inc. reported an increase in its total number of engineers and a slight improvement in utilization rates as of October 2025. The integration of new employees from recent acquisitions has contributed to this growth, indicating a strategic expansion in the Machinery & Electronics sector. This expansion is likely to enhance the company’s operational capacity and market positioning, potentially benefiting stakeholders through improved service delivery and increased market share.

The most recent analyst rating on (JP:2154) stock is a Buy with a Yen1951.00 price target. To see the full list of analyst forecasts on Open Up Group Inc. stock, see the JP:2154 Stock Forecast page.

Open Up Group Inc. Reports Q3 Financial Results with Increased Profitability

Open Up Group Inc. reported a decline in revenue by 14.9% for the three months ending September 30, 2025, compared to the previous year. Despite the revenue drop, the company saw a significant increase in profit attributable to owners of the parent by 16.4%, indicating improved profitability. The company also announced a forecasted increase in annual dividends per share for the fiscal year ending June 2026, reflecting confidence in future financial performance.

The most recent analyst rating on (JP:2154) stock is a Buy with a Yen1951.00 price target. To see the full list of analyst forecasts on Open Up Group Inc. stock, see the JP:2154 Stock Forecast page.

Open Up Group Inc. Maintains Stable Credit Rating

Open Up Group Inc. has announced that its credit rating has been maintained at an ‘A’ with a stable outlook by the Japan Credit Rating Agency (JCR). This affirmation supports the company’s strategy to secure stable financing and diversify its financing options, which is crucial for the expansion of its business foundation.

The most recent analyst rating on (JP:2154) stock is a Buy with a Yen1951.00 price target. To see the full list of analyst forecasts on Open Up Group Inc. stock, see the JP:2154 Stock Forecast page.