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BELLSYSTEM24 Holdings, Inc.
(6183)
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Rating:64Neutral
Price Target:
¥1,483.00
▲(2.91% Upside)
Action:Downgraded
Date:07/09/26
The score is driven mainly by steady but mixed financial performance: revenue growth has resumed and leverage is currently manageable, but margins remain below prior peaks and free-cash-flow momentum is notably weak. Valuation is a clear positive with a moderate P/E and strong dividend yield, while technical indicators are neutral-to-slightly bearish due to negative MACD and price sitting below key medium-term averages.
Positive Factors
Recurring BPO/CX Business Model
BELLSYSTEM24’s core model is recurring outsourced CX and BPO services (contact centers, back-office, CX solutions). Multi-year managed-service contracts and transaction/FTE pricing create predictable revenue streams and high client switching costs, supporting durable topline visibility.
Negative Factors
Compressed Profit Margins
Profitability remains moderate with gross and net margins below prior-cycle highs. In a labor-intensive BPO industry, sustained margin compression suggests price or mix pressure and limited near-term operating leverage, constraining long-term cashflow expansion and reinvestment ability.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring BPO/CX Business Model
BELLSYSTEM24’s core model is recurring outsourced CX and BPO services (contact centers, back-office, CX solutions). Multi-year managed-service contracts and transaction/FTE pricing create predictable revenue streams and high client switching costs, supporting durable topline visibility.
Read all positive factors
BELLSYSTEM24 Holdings, Inc. (6183) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥103.07B
Dividend Yield4.17%
Average Volume (3M)173.95K
Price to Earnings (P/E)11.8
Beta (1Y)0.51
Revenue Growth1.76%
EPS Growth4.14%
CountryJP
Employees37,582
SectorIndustrials
Sector Strength72
IndustrySpecialty Business Services
Share Statistics
EPS (TTM)115.59
Shares Outstanding74,522,700
10 Day Avg. Volume275,250
30 Day Avg. Volume173,953
Financial Highlights & Ratios
PEG Ratio10.38
Price to Book (P/B)1.49
Price to Sales (P/S)0.75
P/FCF Ratio6.91
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)117.47
Revenue Forecast (FY)¥153.42B
BELLSYSTEM24 Holdings, Inc. Business Overview & Revenue Model
Company Description
BELLSYSTEM24 Holdings, Inc. provides outsourcing, technology, and consulting services related to customer relationship management solutions (CRM) primarily in Japan. It offers temporary staffing, paid job placement, and CRO services related to CRM...
How the Company Makes Money
The company primarily makes money by providing outsourced services to corporate and public-sector clients under service contracts. Key revenue streams typically include: (1) Contact center/CX operations: fees earned for operating inbound/outbound ...
BELLSYSTEM24 Holdings, Inc. Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
63
Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Feb 2026 | Feb 2025 | Feb 2024 | Feb 2023 | Feb 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 145.92B | 145.83B | 143.61B | 148.72B | 156.05B | 146.48B |
| Gross Profit | 27.74B | 27.52B | 25.41B | 27.14B | 31.96B | 30.26B |
| EBITDA | 19.76B | 20.86B | 21.19B | 20.69B | 23.46B | 21.53B |
| Net Income | 8.59B | 8.18B | 8.00B | 7.54B | 9.33B | 8.94B |
Balance Sheet | ||||||
| Total Assets | 168.70B | 169.82B | 174.41B | 175.47B | 176.25B | 178.31B |
| Cash, Cash Equivalents and Short-Term Investments | 8.22B | 7.19B | 6.99B | 7.21B | 7.00B | 6.20B |
| Total Debt | 18.10B | 62.48B | 72.47B | 78.08B | 78.44B | 86.02B |
| Total Liabilities | 93.77B | 95.04B | 103.58B | 107.73B | 111.34B | 118.82B |
| Stockholders Equity | 74.03B | 73.93B | 70.16B | 66.73B | 64.22B | 58.99B |
Cash Flow | ||||||
| Free Cash Flow | 15.79B | 15.94B | 16.24B | 11.39B | 16.40B | 14.21B |
| Operating Cash Flow | 16.66B | 16.53B | 17.39B | 13.59B | 18.17B | 16.28B |
| Investing Cash Flow | -1.16B | -571.00M | -3.69B | -3.10B | -1.80B | -2.43B |
| Financing Cash Flow | -15.49B | -15.78B | -13.90B | -10.29B | -15.58B | -13.18B |
BELLSYSTEM24 Holdings, Inc. Technical Analysis
Negative
1441.00
Price Trends
1409.62
Negative
1427.59
Negative
1386.35
Negative
Market Momentum
-8.19
Negative
44.91
Neutral
63.97
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:6183, the sentiment is Negative. The current price of 1441 is above the 20-day moving average (MA) of 1362.55, above the 50-day MA of 1409.62, and above the 200-day MA of 1386.35, indicating a bearish trend. The MACD of -8.19 indicates Negative momentum. The RSI at 44.91 is Neutral, neither overbought nor oversold. The STOCH value of 63.97 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:6183.
BELLSYSTEM24 Holdings, Inc. Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | ¥7.83B | 17.13 | ― | 3.96% | -3.02% | -36.24% | |
71 Outperform | ¥333.14B | 15.48 | 30.73% | 2.20% | 5.71% | -51.99% | |
69 Neutral | ¥2.68B | 10.07 | ― | ― | 33.64% | 62.36% | |
64 Neutral | ¥103.07B | 11.82 | ― | 4.17% | 1.76% | 4.14% | |
64 Neutral | ¥11.16B | 7.06 | ― | 3.65% | 12.20% | 78.37% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% |
* Industrials Sector Average
JP:6183
BELLSYSTEM24 Holdings, Inc.
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BELLSYSTEM24 Holdings, Inc. Corporate Events
BELLSYSTEM24 Boosts Q1 Profits on Stable Revenue and Efficiency Gains
Jul 8, 2026
BELLSYSTEM24 reported first-quarter revenue of 36.7 billion yen for the fiscal year ending February 2027, a marginal year-on-year increase of 0.3 percent, indicating stable top-line performance in a competitive outsourcing market. The company cont...
BELLSYSTEM24 Delivers Strong Q1 Earnings and Affirms Stable Dividend Outlook
Jul 8, 2026
BELLSYSTEM24 Holdings, Inc. reported consolidated revenue of ¥36.7 billion for the three months ended May 31, 2026, up 0.3% year on year, with operating income rising 11.2% to ¥3.2 billion. Net income attributable to owners of the parent...
BELLSYSTEM24 Clarifies Independence as ITOCHU Tightens Strategic Ties
May 27, 2026
BELLSYSTEM24 Holdings detailed its relationship with controlling shareholder ITOCHU Corporation, which holds 40.33% of its voting rights and accounts for the company using the equity method. The firm stressed that despite this significant stake, t...
BELLSYSTEM24 Extends and Tightens Performance-Linked Stock Incentive Plan for Executives
Apr 20, 2026
BELLSYSTEM24 Holdings will continue and partially amend its performance-linked stock compensation plan for directors and executive officers of the company and key subsidiaries, extending the underlying trust by three years to cover fiscal years en...
BELLSYSTEM24 Revamps Board Slate With New Outside Director and Renewed Mandates
Apr 20, 2026
BELLSYSTEM24 Holdings, Inc. has announced board changes following a resolution at its April 20, 2026 meeting, ahead of its 12th General Meeting of Shareholders on May 27, 2026. The company will seek shareholder approval to reappoint seven incumben...
BELLSYSTEM24 Keeps Annual Dividend Unchanged at 60 Yen Per Share
Apr 20, 2026
BELLSYSTEM24 Holdings has approved a year-end dividend of 30 yen per share for the fiscal year ended February 28, 2026, matching the previous year’s payout and its latest forecast, with total dividends of about 2.24 billion yen to be funded ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.