June 2026
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Largest Business Services Public Companies in Japan
Benchmark revenue and EBITDA valuation multiples for public comps like
Open Up Group, Startia Holdings, System Support Holdings, E-Guardian and Tobila Systems.
 | Open Up Group Inc provides human resource services and outsourcing or contracting services for manufacturing companies in Japan and overseas. The business segments of the company include: Mechatronics/IT field: it includes workers dispatching, contracting, consignment business such as development design engineers. Construction area segment includes construction management engineer business / CAD operator dispatch business for customers in construction industry. Manufacturing Area segment includes manufacturing site contracting and dispatch business for customers in manufacturing industry Temporary staffing, outsourcing and referral business for technology and manufacturing fields. | $12 | +7% | $982M | $930M | 0.7x | 7.4x | ||
| Startia Holdings Inc is engaged in the provision of information technology services in Japan. It operates through the following business divisions: the web solution-related division, the network solution-related divisions, and the business solution-related divisions. | $18 | -- | $165M | $134M | 1.0x | 6.5x | ||
| System Support Holdings Inc is engaged in providing systems solutions which include system integration, transition to cloud-based infrastructure, ERP integration, data center running, and package-based software development. | $6 | -- | $129M | $113M | 0.6x | 7.1x | ||
| E-Guardian Inc provides community site planning services, temporary staffing service, user support services, and other services. | $10 | -- | $117M | $50M | 0.7x | 4.6x | ||
| Tobila Systems Inc develops telecommunication-related systems. It develops and provides nuisance information filter systems for mobile, Fixed-line Telephone, and other businesses. Geographically, the activities are carried out in Japan. The Company operates a single segment, the nuisance information filtering business. | $7 | -- | $70M | $46M | 2.6x | 7.0x | ||
| HONYAKU Center Inc is a technical translation firm. It provides translation services in the medical and pharmaceutical, patent, industrial, financial, and legal fields. It also provides interpreting, medical writing services, and foreign patent applications. | $13 | -- | $44M | $12M | 0.2x | 2.1x | ||
| Median | $11 | +7% | $123M | $81M | 0.7x | 6.8x |
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