BELLSYSTEM24 Holdings, Inc. (6183) AI Stock Analysis

• Market Cap: ¥109.31B
• Dividend Yield: 4.17%
• Average Volume (3M): 173.95K
• Price to Earnings (P/E): 11.5
• Beta (1Y): 0.62
• Revenue Growth: 0.44%
• EPS Growth: 44.52%
• Country: JP
• Employees: 40,000
• Sector: Industrials
• Sector Strength: 72
• Industry: Specialty Business Services
• EPS (TTM): 30.87
• Shares Outstanding: 74,522,700
• 10 Day Avg. Volume: 275,250
• 30 Day Avg. Volume: 173,953
• PEG Ratio: 1.94
• Price to Book (P/B): 1.34
• Price to Sales (P/S): 0.65
• P/FCF Ratio: 5.78
• 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: 64 Neutral
• Price Target: ¥1,591.00 ▲(10.41% Upside)

BELLSYSTEM24 Holdings, Inc. shows financial stability with effective cash flow management and attractive valuation metrics, including a low P/E ratio and high dividend yield. However, declining revenue and free cash flow growth, coupled with short-term bearish technical indicators, pose risks to future performance.

Positive Factors

Stable Profit Margins

Consistent gross and net margins indicate durable operational efficiency and cost control. Over a 2-6 month horizon, margin stability supports earnings resilience despite top-line pressure, enabling the company to sustain operations, fund investments, and preserve profitability.

Improved Leverage and ROE

An improved debt-to-equity ratio and healthy ROE reflect stronger capital structure and efficient use of equity. This reduces financing risk and preserves borrowing flexibility, supporting strategic spending and resilience over the medium term against cyclical stress.

High Cash Conversion

A high free cash flow-to-net income ratio shows the company converts earnings into cash effectively. This durable cash generation ability underpins dividend payments, debt servicing, and selective reinvestment, sustaining financial flexibility across months.

Negative Factors

Declining Revenue

Sustained top-line decline materially reduces scale economies and long-term growth prospects. Over the medium term, falling revenue pressures margins, limits reinvestment and client retention efforts, and heightens execution risk for strategic initiatives.

Negative FCF Growth

Declining free cash flow growth constrains the firm's ability to expand, reduce debt, or sustain dividends over several months. Even with good conversion rates, negative FCF growth signals weakening absolute cash generation, limiting strategic optionality.

Elevated Total Debt

Despite improved leverage ratios, an elevated absolute debt burden increases vulnerability to revenue shocks and interest cost fluctuations. Over a 2-6 month horizon, high debt can limit capex, M&A capacity, and flexibility to navigate prolonged demand weakness.

BELLSYSTEM24 Holdings, Inc. Business Overview & Revenue Model

Company Description

BELLSYSTEM24 Holdings, Inc. provides outsourcing, technology, and consulting services related to CRM solutions primarily in Japan. It also provides, temporary staffing services, paid job placement services BPO services based on IT/manual preparation/education and training services; and operates contact centers, offers hardware and equipment procurement and setup, facility rental, education and training, and mobile call recording service. In addition, the company engages in the planning, production, sale, and service operation of a range of content using the Internet; and provision of employment opportunities to people with disabilities. BELLSYSTEM24 Holdings, Inc. was founded in 1982 and is headquartered in Tokyo, Japan.

How the Company Makes Money

BELLSYSTEM24 generates revenue primarily through its service contracts with clients who outsource their customer support functions. The company operates under a business model that includes fixed fees for service agreements, performance-based incentives, and project-based pricing for customized solutions. Key revenue streams include inbound and outbound call center services, technical support, and consulting services related to customer experience enhancement. Additionally, BELLSYSTEM24 has established strategic partnerships with technology providers to enhance its service offerings, which can lead to increased client retention and new business opportunities, thus contributing positively to its earnings.

BELLSYSTEM24 Holdings, Inc. Financial Statement Overview

Summary

BELLSYSTEM24 Holdings, Inc. demonstrates operational efficiency with stable profit margins and effective cash flow management. However, the company faces challenges with declining revenue and free cash flow growth. The balance sheet shows improved leverage, but the high debt level remains a risk.

Income Statement

The company shows a declining revenue trend with a negative revenue growth rate of -14.7% in the TTM period. Despite this, the company maintains a stable gross profit margin of approximately 17.7% and a net profit margin of 5.6%. The EBIT and EBITDA margins are also stable, indicating operational efficiency. However, the declining revenue is a concern for future profitability.

Balance Sheet

The debt-to-equity ratio has improved to 0.77 in the TTM period, indicating better leverage management compared to previous years. The return on equity is healthy at 11.8%, showing effective use of equity to generate profits. The equity ratio remains stable, reflecting a balanced capital structure. However, the high level of total debt remains a potential risk.

Cash Flow

The free cash flow growth rate is negative at -3.83% in the TTM period, indicating a decline in cash generation. The operating cash flow to net income ratio is stable, suggesting consistent cash conversion from earnings. The free cash flow to net income ratio is strong at 92.5%, showing efficient cash flow management. However, the decline in free cash flow growth is a concern.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	144.71B	143.61B	148.72B	156.05B	146.48B	135.74B
Gross Profit	26.24B	25.41B	27.14B	31.96B	30.26B	27.44B
EBITDA	22.01B	21.19B	20.69B	23.46B	21.53B	19.66B
Net Income	8.80B	8.00B	7.54B	9.33B	8.94B	7.25B
Balance Sheet
Total Assets	173.67B	174.41B	175.47B	176.25B	178.31B	172.89B
Cash, Cash Equivalents and Short-Term Investments	9.04B	6.99B	7.21B	7.00B	6.20B	5.52B
Total Debt	66.25B	54.05B	56.23B	54.82B	59.45B	63.14B
Total Liabilities	100.58B	103.58B	107.73B	111.34B	118.82B	119.38B
Stockholders Equity	72.37B	70.16B	66.73B	64.22B	58.99B	53.11B
Cash Flow
Free Cash Flow	15.14B	16.24B	11.39B	16.40B	14.21B	12.75B
Operating Cash Flow	15.89B	17.39B	13.59B	18.17B	16.28B	14.89B
Investing Cash Flow	-2.28B	-3.69B	-3.10B	-1.80B	-2.43B	-3.18B
Financing Cash Flow	-13.60B	-13.90B	-10.29B	-15.58B	-13.18B	-13.96B

BELLSYSTEM24 Holdings, Inc. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1441.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:6183, the sentiment is Positive. The current price of 1441 is below the 20-day moving average (MA) of 1445.20, above the 50-day MA of 1393.48, and above the 200-day MA of 1292.84, indicating a bullish trend. The MACD of 23.29 indicates Negative momentum. The RSI at 64.88 is Neutral, neither overbought nor oversold. The STOCH value of 77.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:6183.

BELLSYSTEM24 Holdings, Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
9319	75 Outperform	¥29.60B	15.65	―	2.59%	4.02%	18.12%
4290	74 Outperform	¥95.51B	17.97	11.16%	3.41%	10.87%	-5.96%
7373	73 Outperform	¥49.31B	24.20	―	1.02%	24.97%	37.84%
6088	69 Neutral	¥74.59B	17.08	―	2.56%	8.08%	10.43%
6183	64 Neutral	¥109.31B	11.52	―	4.17%	0.44%	44.52%
9216	64 Neutral	¥24.08B	174.53	―	4.78%	-3.81%	-82.38%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%

BELLSYSTEM24 Holdings, Inc. Corporate Events

BELLSYSTEM24 Releases Q3 FY2026 Financial Supplementary Materials

BELLSYSTEM24 Holdings, Inc. has released supplementary materials outlining its financial results for the third quarter of the fiscal year ending February 2026, covering the period from March to November 2025. The announcement signals ongoing disclosure of operating performance to investors and stakeholders, positioning the company to maintain transparency around its business trends in the communications and contact center market.

The most recent analyst rating on (JP:6183) stock is a Hold with a Yen1433.00 price target. To see the full list of analyst forecasts on BELLSYSTEM24 Holdings, Inc. stock, see the JP:6183 Stock Forecast page.

BELLSYSTEM24 Lifts Profit Nearly 30% on Modest Sales Growth, Confirms Full-Year Outlook and Dividend Plan

BELLSYSTEM24 Holdings reported a modest 1.4% year-on-year increase in revenue to ¥109.46 billion for the nine months ended November 30, 2025, but delivered a strong recovery in profitability, with operating income up 28.1% to ¥9.44 billion and net income attributable to owners of the parent up 30.7% to ¥6.12 billion. The company’s equity position also improved, with the ratio of equity attributable to owners of the parent rising to 42.2%, and it maintained its full-year forecast for fiscal 2025/26, targeting 4.5% revenue growth and slightly higher earnings, while confirming an annual dividend plan of ¥60 per share, including a previously paid interim dividend funded from capital surplus, signaling continued shareholder returns despite only moderate top-line growth.

The most recent analyst rating on (JP:6183) stock is a Hold with a Yen1433.00 price target. To see the full list of analyst forecasts on BELLSYSTEM24 Holdings, Inc. stock, see the JP:6183 Stock Forecast page.