6183
譬ェ蠑丈シ夂、セ繝吶Ν繧キ繧ケ繝�繝�シ抵シ斐�帙�シ繝ォ繝�繧」繝ウ繧ー繧ケ
株式会社ベルシステム24ホールディングス
Industrials · Specialty Business Services
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 solutions. The company also engages in the planning, production, and sale of various contents using the Internet and other media and other related services. BELLSYSTEM24 Holdings, Inc. was founded in 1982 and is headquartered in Tokyo, Japan.
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Overview
Filings & Signals
Ownership
Financials
▾ Collapse Charts
Income Statement
Balance Sheet
Cash Flow
Ratios & Per Share
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Net Sales
¥145.8B
¥143.6B
¥148.7B
¥156.1B
¥146.5B
Cost of Sales
¥118.3B
¥118.2B
¥121.6B
¥124.1B
¥116.2B
Gross Profit
¥27.5B
¥25.4B
¥27.1B
¥32.0B
¥30.3B
SG&A
¥15.6B
¥16.2B
¥16.6B
¥17.2B
¥16.6B
Operating Income
¥12.7B
¥11.6B
¥11.5B
¥14.9B
¥13.2B
Non-Operating Income
¥35M
¥47M
¥40M
¥94M
¥50M
Interest Income
¥9M
¥6M
¥1M
¥1M
¥2M
Non-Operating Expenses
¥774M
¥579M
¥436M
¥557M
¥629M
Interest Expense
¥614M
¥398M
¥269M
¥329M
¥420M
Pre-tax Income
¥12.3B
¥11.2B
¥11.2B
¥14.2B
¥13.5B
Net Income (owners)
¥8.2B
¥8.0B
¥7.5B
¥9.3B
¥8.9B
Minority Interest
¥178M
¥261M
¥323M
¥256M
¥195M
Comprehensive Income
¥8.0B
¥7.9B
¥8.0B
¥9.9B
¥9.3B
EPS
¥110.22
¥108.81
¥102.61
¥126.82
¥121.65
Shares Outstanding
74.5M
73.8M
73.8M
73.7M
73.7M
Shares Issued (total)
74.5M
73.8M
73.8M
73.7M
73.7M
Treasury Shares
0.0M
0.0M
0.0M
0.0M
0.0M
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Total Assets
¥169.8B
¥174.4B
¥175.5B
¥176.2B
¥178.3B
Current Assets
¥29.7B
¥28.0B
¥28.3B
¥30.7B
¥28.8B
Cash & Deposits
¥7.2B
¥7.0B
¥7.2B
¥7.0B
¥6.2B
Non-Current Assets
¥140.1B
¥146.4B
¥147.2B
¥145.6B
¥149.5B
PP&E
¥25.6B
¥31.6B
¥35.8B
¥37.0B
¥40.1B
Goodwill
¥94.7B
¥94.7B
¥96.8B
¥94.9B
¥94.9B
Intangible Assets
¥2.4B
¥2.8B
¥2.9B
¥1.7B
¥2.1B
Deferred Tax Assets
¥3.6B
¥3.2B
¥2.7B
¥3.0B
¥2.8B
Total Liabilities
¥95.0B
¥103.6B
¥107.7B
¥111.3B
¥118.8B
Current Liabilities
¥45.8B
¥57.4B
¥48.6B
¥46.2B
¥67.4B
ST Debt
¥17.3B
¥30.8B
¥23.0B
¥16.6B
¥37.5B
Non-Current Liabilities
¥49.2B
¥46.2B
¥59.1B
¥65.1B
¥51.4B
Total LT Borrowings
¥31.4B
¥23.2B
¥33.2B
¥38.2B
¥22.0B
Deferred Tax Liab.
¥173M
¥187M
¥211M
—
¥8M
Total Equity
¥74.8B
¥70.8B
¥67.7B
¥64.9B
¥59.5B
Capital Surplus
¥-12.3B
¥-8.1B
¥-3.8B
¥1.3B
¥3.5B
Retained Earnings
¥59.6B
¥51.4B
¥43.4B
¥35.8B
¥28.8B
Treasury Stock
¥-296M
¥-312M
¥-378M
¥-285M
¥-297M
AOCI
¥-477M
¥48M
¥455M
¥325M
¥-57M
Equity (owners)
¥73.9B
¥70.2B
¥66.7B
¥64.2B
¥59.0B
Minority Interests
¥854M
¥677M
¥1.0B
¥687M
¥503M
Total Interest-Bearing Debt ⓘ
¥48.7B
¥54.0B
¥56.2B
¥54.8B
¥59.5B
Net Cash ⓘ
¥-41.5B
¥-47.1B
¥-49.0B
¥-47.8B
¥-53.3B
NCAV ⓘ
¥-65.3B
¥-75.5B
¥-79.4B
¥-80.7B
¥-90.0B
NCAV/Share
¥-877
¥-1,024
¥-1,077
¥-1,094
¥-1,221
BV/Share
¥992
¥951
¥905
¥871
¥800
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Operating CF
¥16.5B
¥17.4B
¥13.6B
¥18.2B
¥16.3B
Investing CF
¥-571M
¥-3.7B
¥-3.1B
¥-1.8B
¥-2.4B
CapEx
¥598M
¥1.1B
¥1.4B
¥1.4B
¥1.7B
Financing CF
¥-15.8B
¥-13.9B
¥-10.3B
¥-15.6B
¥-13.2B
Free Cash Flow
¥15.9B
¥16.2B
¥12.2B
¥16.8B
¥14.6B
Net Change in Cash
¥202M
¥-221M
¥215M
¥802M
¥678M
Metric
FY 2025
EDINET ↗
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
ROE
11.2%
11.6%
11.4%
15.0%
15.0%
ROA
4.8%
4.6%
4.3%
5.3%
5.0%
EPS
¥110.22
¥108.81
¥102.61
¥126.82
¥121.65
DPS
¥60.00
¥60.00
¥60.00
¥60.00
¥54.00
FCF/Share
¥214
¥220
¥166
¥227
¥198
NCAV/Share
¥-877
¥-1,024
¥-1,077
¥-1,094
¥-1,221
Payout Ratio
54.4%
55.1%
58.5%
47.3%
44.4%
Event Timeline
S Shareholder
A Capital Signal
▾ Hide Chart
Large Shareholder Reports 5
Date Activist Stake Event Flag Demands Source
2026-05-21
SOMPO ASSET MANAGEMENT CO.,LTD.
5.19%
initial_5pct
Passive
—
2025-05-08
TOPPAN Inc.
15.22%
change
Passive
—
2024-05-21
Sumitomo Mitsui DS Asset Management Company, Limited
9.48%
change
Passive
—
2023-10-06
TOPPAN Holdings Inc.
—
exit
Passive
—
2023-10-06
TOPPAN Inc.
15.22%
initial_5pct
Passive
—
Top 10 Shareholders
Ownership DNA
Cross-Holdings Tracker 1
#
Shareholder
Shares (thou.)
% of Total
1
伊藤忠商事㈱
30,030
40.30%
2
TOPPAN㈱
10,639
14.28%
3
Custody Bank of Japan, Ltd. (Trust Account)
㈱日本カストディ銀行(信託口)
10,462
14.04%
4
The Master Trust Bank of Japan, Ltd. (Trust Account)
日本マスタートラスト信託銀行㈱(信託口)
5,402
7.25%
5
MSIP CLIENT SECURITIES(常任代理人 モルガン・スタンレーMUFG証券㈱)
627
0.84%
6
THE NOMURA TRUST AND BANKING CO., LTD.AS THE TRUSTEE OF REPURCHASE AGREEMENT MOTHER FUND(常任代理人 シティバンク エヌ・エイ東京支店)
533
0.71%
7
野村證券㈱
526
0.71%
8
Citibank, N.A.
GOVERNMENT OF NORWAY(常任代理人 シティバンク エヌ・エイ東京支店
509
0.68%
9
JP MORGAN CHASE BANK 385781 (常任代理人 ㈱みずほ銀行)
470
0.63%
10
ベルシステム24グループ従業員持株会
432
0.58%
Domestic Nominees
21.3%
+1.0% vs 2025
Trust bank custodians — GPIF, pensions, investment trusts
Foreign Custodians
0.7%
+0.7% vs 2025
Sub-custodians for foreign asset managers
Direct / Strategic
58.0%
-2.5% vs 2025
Named entities with disclosed investment intent
Shareholder
Trend
2023
2024
2025
2026
伊藤忠商事
40.73%
40.72%
40.72%
40.30%
-0.42%
TOPPAN
—
14.33%
14.33%
14.28%
-0.05%
日本カストディ銀行
12.44%
15.68%
12.79%
14.04%
+1.25%
日本マスタートラスト信託銀行
11.05%
8.81%
7.54%
7.25%
-0.29%
MSIP CLIENT SECURITIES
↑
—
1.06%
0.98%
0.84%
-0.14%
THE NOMURA TRUST AND BANKING CO., LTD.AS THE TRUSTEE OF REPURCHASE AGREEMENT MOTHER FUND
—
—
1.27%
0.71%
-0.56%
野村證券
NEW ENTRY
—
0.47%
—
0.71%
NEW
Citibank
NEW ENTRY
—
—
—
—
0.68%
NEW
JP MORGAN CHASE BANK 385781
NEW ENTRY
—
0.61%
—
0.63%
NEW
ベルシステム24グループ従業員持株会
0.50%
0.53%
0.59%
0.58%
-0.01%
JP JPMSE LUX RE BARCLAYS CAPITAL SEC LTD EQ CO
last seen 2025
Exited Top 10
—
—
1.13%
—
JPモルガン証券
last seen 2025
Exited Top 10
1.11%
1.12%
0.99%
—
日本証券金融
last seen 2025
Exited Top 10
0.68%
—
0.50%
—
凸版印刷
last seen 2023
Exited Top 10
14.33%
—
—
—
BNP PARIBAS LUXEMBOURG/2S/JASDEC/FIM/LUXEMBOURG FUNDS/UCITS ASSETS
last seen 2023
Exited Top 10
0.43%
—
—
—
CACEIS BANK, LUXEMBOURG BRANCH / UCITS CLIENTS ASSETS
last seen 2023
Exited Top 10
0.41%
—
—
—
ジブラルタ生命保険㈱(一般勘定株式D口)
last seen 2023
Exited Top 10
0.47%
—
—
—
BNYM SA/NV FOR BNYM FOR BNY GCMCLIENT ACCOUNTSM LSCB RD
last seen 2024
Exited Top 10
—
0.66%
—
—
Concentration (HHI)
ⓘ
2144
2191
2089
2081
4 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved
Portfolio Book Value
¥12M
-40% since 2023
Holdings
1
Trend
Stable
vs 2023
Held Company
FY2025
¥12M total
FY2023
¥20M total
Book Val ¥M
Shares
Book Val ¥M
Shares
SENSHUKAI CO.,LTD.
㈱千趣会
12
50,000
20
50,000
Portfolio total
12
20
Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding