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Earnings presentation6183BELLSYSTEM24 HOLDINGS,INC.Information and Communications, Services and Others

Supplementary Materials on the Financial Results for the Fiscal Year Ended February 2026 (FY2025) and the Medium-Term Management Plan

In fiscal 2025, revenue and operating profit increased, driven by growth in telecommunications carrier and public-sector projects, higher unit prices and cost reductions. The company also presented its earnings forecast for fiscal 2026, the revenue and profit targets under Medium-Term Management Plan 2028, and its growth investment plan centered on AI and BPO.

Worth reading
61In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.
Direction
Improvement
Direction inferred from the company’s description.
Scale
10.6
¥100 million (year-on-year increase in operating profit)
Wording
Conditional
How definitive the wording is.

Contents of this document

Earnings presentationFiscal year ending February 2026 (fiscal 2025)13 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥1,458.3 hundred million+1.5%
Operating profit¥126.5 hundred million+9.2%
Ordinary income¥122.9 hundred million
Net income¥81.8 hundred million+2.2%
Gross Profit Margin18.9%
Operating profit margin8.7%
Selling, general and administrative expenses¥-156.1 hundred million
Full-year earnings forecast
Revenue
¥1,520 hundred million
Smart Contact Center Services
¥1,290 hundred million
Smart Business Support Services
¥230 hundred million
Gross profit
¥290 hundred million
Gross Profit Margin
19.1%
Selling, general and administrative expenses
¥-161 hundred million
Operating profit
¥130 hundred million
Operating profit margin
8.6%
Share of profit or loss of investments accounted for using the equity method
¥5.5 hundred million
Finance income / costs
¥-9.4 hundred million
Profit for the period attributable to owners of the parent
¥85 hundred million
Progress against full-year forecast　通期の予想に対して、いまどこまで進んだかの割合です。
Revenue97.2%
CRM business97.4%
SC operations98.3%
SB operations91.9%
Other Businesses54.0%
Gross profit97.6%
Operating profit105.4%
Profit for the period attributable to owners of the parent101.0%
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
RevenueSmart Contact Center Services +¥1.71 billion, Smart Business Support Services +¥650 million, Other -¥140 million
Operating profitGross profit +¥2.11 billion, selling, general and administrative expenses +¥570 million, gain on the sale of subsidiary shares in the previous fiscal year -¥3.76 billion, reversal of impairment losses recorded in the previous fiscal year +¥1.57 billion, gain on business transfers +¥640 million, Other -¥70 million
Profit for the periodOperating profit +¥1.06 billion, share of profit or loss of investments accounted for using the equity method +¥200 million, finance income/expenses -¥210 million, income tax expense -¥960 million, non-controlling interests +¥80 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Market interest ratesAssumes continued increases
Personnel expenses and other costsAssumes increases due to higher prices and other factors
AI automated responseAssumes a response accuracy rate of at least 95%
BPO marketDomestic BPO market of more than ¥5 trillion, company scope of ¥1.6 trillion, growing at an annual rate of 2.5%
New initiatives
  • Launch of the AI customer understanding service "ヒトトナリAI"
  • Launch of "BellCloud+CX" through collaboration with NICE
  • Launch of the AI knowledge generation service "Knowledge Generator"
  • Business partnership with AVILEN and ITOCHU Corporation to support the joint creation of AI agents
  • Strategic collaboration with RevComm on the use of conversation data
  • Partnership with Alfresa to develop "D-REACH" for pharmaceutical companies
  • ¥25 billion in strategic growth investments under Medium-Term Management Plan 2028
Key KPIsA metric the company considers important as a management benchmark.
  • ITOCHU synergy revenue¥171.9 hundred million
    Year on year against the same period last year+11.7%
  • ROE11.4 %
    Year on year against the same period last year-0.3 percentage points
  • Net DER0.56 times
    Year on year against the same period last year-0.11 times
  • Seats at operating locations17,500 seats
    Year on year against the same period last year-600 seats
  • BellCloud+ seats8,800 seats
    Year on year against the same period last year+660 seats
  • Directly employed CM ratio84.7 %
    Year on year against the same period last year+1.6 percentage points
  • Number of client companies1,690 companies
    Year on year against the same period last year+6.6%
  • PBR1.5 times
  • PER13.5 times
Segment results
CRM business
Revenue
¥1,455.6 hundred million
Year on year against the same period last year+1.6%
Smart Contact Center Services
Revenue
¥1,248.9 hundred million
Year on year against the same period last year+1.4%
Smart Business Support Services
Revenue
¥206.7 hundred million
Year on year against the same period last year+3.3%
Other Businesses
Revenue
¥2.7 hundred million
Year on year against the same period last year-34.3%
Medium-term management plan targets
Target fiscal yearFY2028
Revenue¥175 billion
Operating profit¥16 billion (operating margin: 9.1%)
Profit after tax¥10 billion plus
SC operations¥145 billion
SB operations¥30 billion
Strategic growth investment¥25 billion
Comparison with actual resultsFiscal 2025 results: revenue of ¥145.8 billion, operating profit of ¥12.7 billion and profit after tax of ¥8.2 billion
Financial targets
ROEMaintain and improve ROE at a level above the cost of equity. Actual fiscal year-end fiscal 2025: 11.4%
Net DERMaintain Net DER at the fiscal year-end 2025 level of 0.56 times at the end of fiscal 2028, even after fully executing the investment plan
PBRActual fiscal year-end fiscal 2025: 1.5 times
PERActual fiscal year-end fiscal 2025: 13.5 times
Market Size / Share
Domestic BPO marketMore than ¥5 trillion
Company scope¥1.6 trillion
In-house contact center market¥1.4 trillion
Growth rate of the company scope market2.5% annually
Number of stores and locations
Number at period-endSeats at operating locations: 17,500
Number of employees
Number of EmployeesDirectly employed customer management personnel: 27,280
Capital expenditures
¥10.3 hundred million
Annual Dividend
Annual dividend per share¥60
Interim Dividend¥30
Year-end dividend¥30
Payout ratio
Rate50 %
Contents of this document
ItemDetails
Document typeEarnings presentation
Fiscal Period CoveredFiscal year ending February 2026 (fiscal 2025)
Net Sales¥1,458.3 hundred million (YoY +1.5%)
Operating profit¥126.5 hundred million (YoY +9.2%)
Ordinary income¥122.9 hundred million
Net income¥81.8 hundred million (YoY +2.2%)
Gross Profit Margin18.9%
Operating profit margin8.7%
Selling, general and administrative expenses¥-156.1 hundred million
Full-year earnings forecastRevenue ¥1,520 hundred million / Smart Contact Center Services ¥1,290 hundred million / Smart Business Support Services ¥230 hundred million / Gross profit ¥290 hundred million / Gross Profit Margin 19.1% / Selling, general and administrative expenses ¥-161 hundred million / Operating profit ¥130 hundred million / Operating profit margin 8.6% / Share of profit or loss of investments accounted for using the equity method ¥5.5 hundred million / Finance income / costs ¥-9.4 hundred million / Profit for the period attributable to owners of the parent ¥85 hundred million
Progress against full-year forecastRevenue 97.2% / CRM business 97.4% / SC operations 98.3% / SB operations 91.9% / Other Businesses 54.0% / Gross profit 97.6% / Operating profit 105.4% / Profit for the period attributable to owners of the parent 101.0%
Segment resultsCRM business Revenue ¥1,455.6 hundred million / yoy_pct 1.6 / Smart Contact Center Services Revenue ¥1,248.9 hundred million / yoy_pct 1.4 / Smart Business Support Services Revenue ¥206.7 hundred million / yoy_pct 3.3 / Other Businesses Revenue ¥2.7 hundred million / yoy_pct -34.3
Breakdown of Factors Affecting the ChangeRevenue Smart Contact Center Services +¥1.71 billion, Smart Business Support Services +¥650 million, Other -¥140 million / Operating profit Gross profit +¥2.11 billion, selling, general and administrative expenses +¥570 million, gain on the sale of subsidiary shares in the previous fiscal year -¥3.76 billion, reversal of impairment losses recorded in the previous fiscal year +¥1.57 billion, gain on business transfers +¥640 million, Other -¥70 million / Profit for the period Operating profit +¥1.06 billion, share of profit or loss of investments accounted for using the equity method +¥200 million, finance income/expenses -¥210 million, income tax expense -¥960 million, non-controlling interests +¥80 million
Key KPIsIndicator name ITOCHU synergy revenue / Value ¥171.9 hundred million / Year on year against the same period last year +11.7%, Indicator name ROE / Value 11.4 % / Year on year against the same period last year -0.3 percentage points, Indicator name Net DER / Value 0.56 times / Year on year against the same period last year -0.11 times, Indicator name Seats at operating locations / Value 17,500 seats / Year on year against the same period last year -600 seats, Indicator name BellCloud+ seats / Value 8,800 seats / Year on year against the same period last year +660 seats, Indicator name Directly employed CM ratio / Value 84.7 % / Year on year against the same period last year +1.6 percentage points, Indicator name Number of client companies / Value 1,690 companies / Year on year against the same period last year +6.6%, Indicator name PBR / Value 1.5 times / Year on year against the same period last year Not disclosed, Indicator name PER / Value 13.5 times / Year on year against the same period last year Not disclosed
Number of stores and locationsNumber at period-end Seats at operating locations: 17,500 / Number of store openings and closures during the period Not disclosed
Number of employeesNumber of Employees Directly employed customer management personnel: 27,280 / Changes during the period and hiring plan Not disclosed
Assumptions Underlying the Business OutlookMarket interest rates Assumes continued increases / Personnel expenses and other costs Assumes increases due to higher prices and other factors / AI automated response Assumes a response accuracy rate of at least 95% / BPO market Domestic BPO market of more than ¥5 trillion, company scope of ¥1.6 trillion, growing at an annual rate of 2.5%
Medium-term management plan targetsTarget fiscal year FY2028 / Revenue ¥175 billion / Operating profit ¥16 billion (operating margin: 9.1%) / Profit after tax ¥10 billion plus / SC operations ¥145 billion / SB operations ¥30 billion / Strategic growth investment ¥25 billion / Comparison with actual results Fiscal 2025 results: revenue of ¥145.8 billion, operating profit of ¥12.7 billion and profit after tax of ¥8.2 billion
Financial targetsROE Maintain and improve ROE at a level above the cost of equity. Actual fiscal year-end fiscal 2025: 11.4% / Net DER Maintain Net DER at the fiscal year-end 2025 level of 0.56 times at the end of fiscal 2028, even after fully executing the investment plan / PBR Actual fiscal year-end fiscal 2025: 1.5 times / PER Actual fiscal year-end fiscal 2025: 13.5 times
Annual DividendAnnual dividend per share ¥60 / Interim Dividend ¥30 / Year-end dividend ¥30
Payout ratioRate 50 % / Total payout ratio and DOE Not disclosed
Capital expenditures¥10.3 hundred million
Market Size / ShareDomestic BPO market More than ¥5 trillion / Company scope ¥1.6 trillion / In-house contact center market ¥1.4 trillion / Growth rate of the company scope market 2.5% annually
New initiativesLaunch of the AI customer understanding service "ヒトトナリAI", Launch of "BellCloud+CX" through collaboration with NICE, Launch of the AI knowledge generation service "Knowledge Generator", Business partnership with AVILEN and ITOCHU Corporation to support the joint creation of AI agents, Strategic collaboration with RevComm on the use of conversation data, Partnership with Alfresa to develop "D-REACH" for pharmaceutical companies, ¥25 billion in strategic growth investments under Medium-Term Management Plan 2028
Items this document does not state (7)
Results for the three months of the current quarterSelf-assessment against the planUnit price and quantity metricsRisk amount incorporated into the outlookAcquisition of treasury sharesOrders received and order backlogKey points of the Q&A

These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.

The reasons the company gives

The company's own explanation, not something inferred from the numbers.

Revenue increased due to growth in telecommunications carrier projects, public-sector projects, election-related services and human resources and accounting services. Operating profit benefited from the effect of higher revenue, increased billing rates for clients, improved profitability through office consolidation and operational efficiency measures, and lower selling, general and administrative expenses due to the absence of office consolidation costs recorded in the previous fiscal year.

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Supplementary Materials on the Financial Results for the Fiscal Year Ended February 2026 (FY2025) and the Medium-Term Management Plan | BELLSYSTEM24 HOLDINGS,INC. (6183) timely disclosure | Komori