Returning to its original high-growth path through a regression to automation, Open Group.

Fisco Japan · Aug 19 12:39

オープングループ＜6572＞は直近の数年、低採算・低成長事業の整理、人員体制の立て直しに経営リソースを投下せざるを得ない状況であったが、攻めの経営に向けた施策として自社のIdentityを「オートメーション・カンパニーグループ」と再定義し、業績のボラティリティを高めていた事業の売却・低採算キャンペーン案件の終了等を断行、のれん・ソフトウェアの減損等、業績に有意なインパクトのある特別損失は一旦出し切った。

現状、同社では中堅中小企業を対象とした業務自動化ソリューション「BizRobo!（キャッシュ・カウな事業）」、全企業共通の業務、特にコンプライアンスチェックを自動化するクラウドサービス「RoboRobo（24年2月期に単月黒字化、25年2月期は通年で黒字化が予想される事業）」、労働集約型のCPA（コスト・パー・アクイジション）広告業界におけるオートメーション化を実現するプロダクト「PRESCO（過去4年の取扱高CAGRが35.6%に達し、同社の強みであるの先端技術の社会実装が最も威力を発揮した事業）」にリソースを集中している。業績のボラティリティを高めていた事業を除いた当該中核事業は、過去4年間一貫して成長しており（売上高CAGR11.8%、EBITDA CAGR60.1%）、事業の整理統合でオーガニックな成長を見込める状況となった。事業ポートフォリオの整理に目途が付いたため、安定的な経営のための必要な資金以外は大胆に活用、手元現預金の積極活用と戦略的なM&Aによる加速度的成長も目指す。

2025年2月期の第1四半期決算は、売上高が前年同期比23.1%増の1,783百万円、営業利益が同63.9%増の164百万円と順調な滑り出しとなった。「「BizRobo!」「RoboRobo」をてがけるインテリジェントオートメーション事業は顧客数が前四半期比143社増となり、ストック売上高比率も80%台で高位安定、解約率も1%を上回らない範囲で低位安定している。「PRESCO」をてがけるアドオートメーション事業も順調。2025年2月通期も、売上高で前期比16.8%増の7,200百万円、営業利益で同25.0%増の650百万円と高い成長が見込まれている。

Over the past few years, the opening group <6572> has been in a situation where it is necessary to invest management resources in restructuring low-profit and low-growth businesses and rebuilding personnel structures. As a measure towards aggressive management, the company has redefined its identity as the "Automation Company Group" and has carried out measures such as selling off businesses with high volatility and low profitability campaigns, ending projects, and posting significant special losses such as impairment losses on goodwill and software.

Currently, the company is focusing its resources on the business automation solutions "BizRobo! (Cash Cow Business)" for medium and small-sized enterprises, the cloud service "RoboRobo (a business that is expected to be profitable for the year ending February 2025, with a monthly profit in February 2024), that automates common business and especially compliance checks across the company, and the product "PRESCO (a business that has achieved a CAGR of 35.6% in handling volume over the past four years and has demonstrated its strength in the social implementation of advanced technologies by being able to realize automation in the labor-intensive CPA advertising industry)". The core business excluding the business that increased the volatility of performance has consistently grown over the past four years (sales CAGR 11.8%, EBITDA CAGR 60.1%), and the company expects organic growth through the integration and streamlining of its business. With the expected restructuring of its business portfolio, the company plans to use its funds aggressively, except for the necessary funds for stable management, and to aim for accelerated growth through strategic M&A.

In the first quarter of the 2025 fiscal year, sales revenue increased by 23.1% year-on-year to 1,783 million yen, and operating profit increased by 63.9% to 164 million yen, with a smooth start. The Intelligent Automation business, which handles "BizRobo!" and "RoboRobo", has increased its customer base by 143 companies from the previous quarter, and its stock sales ratio is also stable at around 80%, with a low contract cancellation rate of less than 1%. The ad automation business, which handles "PRESCO", is also doing well. For the full year ending February 2025, high growth is expected with sales revenue of 7,200 million yen, up 16.8% from the previous year, and operating profit of 650 million yen, up 25.0%.

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オープングループ---オートメーションへの回帰で本来の高成長路線に

Returning to its original high-growth path through a regression to automation, Open Group.

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