Industry map/Finance & Business Services
Business Process Outsourcing industry map
Who earns the money in Business Process Outsourcing, and who keeps it. When a company spans several industries, only the relevant segment is counted.
FY2025 · 82 companies · ¥3.64T
Industry map
Companies ordered by revenue, connected by ownership (major shareholders). Arrows point from the shareholder to the investee.
- Industry size (revenue)
- ¥3.64T
- Companies
- 82
- Avg. salary（parent only）
- ¥5.7M
- Industry weather
- Sunny
YoY +3.2%
Avg. age 41.0
Operating income +5.7%
TOPPAN Holdings[7911]
Information and communication
- Revenue
- ¥903.9B▲1.0%
- Operating income
- ¥45B▼1.1%
Margin 5.0%
Whole company: Revenue ¥1.81T · Net income ¥64.8B
Avg. salary ¥8.7M · 42.8（parent only）
Dai Nippon Printing[7912]
Smart communication
- Revenue
- ¥748.7B▲4.9%
- Operating income
- ¥40B▲15.4%
Margin 5.3%
Whole company: Revenue ¥1.51T · Net income ¥104B
Avg. salary ¥8.6M · 44.8（parent only）
transcosmos[9715]
Stand-alone service + 2 more
- Revenue
- ¥393.9B▲4.8%
- Operating income
- ¥16.7B▲13.9%
Margin 4.2%
Whole company: Revenue ¥393.9B · Net income ¥13.1B
Avg. salary ¥5M · 37.0（parent only）
Pasona Group[2168]
BPO Solution,Expert Solution
- Revenue
- ¥269.3B▼4.3%
- Operating income
- ¥9.76B▼15.7%
Margin 3.6%
Whole company: Revenue ¥309.2B · Net income -¥8.66B
Avg. salary ¥6.3M · 34.9（parent only）
株式会社ベルシステム24ホールディングス[6183]
CRM Business
- Revenue
- ¥145.6B▲1.6%
- Operating income
- —
Whole company: Revenue ¥145.8B · Net income ¥8.18B
Avg. salary ¥7M · 46.0（parent only）
Persol Holdings[2181]
BPO
- Revenue
- ¥135.4B▲24.3%
- Operating income
- ¥10.3B▲54.9%
Margin 7.6%
Whole company: Revenue ¥1.56T · Net income ¥42.7B
Avg. salary ¥8.8M · 40.9（parent only）
Secom[9735]
BPO & ICT
- Revenue
- ¥129.9B▲1.1%
- Operating income
- ¥8.99B▼1.9%
Margin 6.9%
Whole company: Revenue ¥1.26T · Net income ¥112.7B
Avg. salary ¥6.7M · 44.5（parent only）
Relo Group[8876]
Outsourcing Business
- Revenue
- ¥80.8B▲8.8%
- Operating income
- ¥22.9B▲3.4%
Margin 28.4%
Whole company: Revenue ¥151.1B · Net income ¥20.7B
Avg. salary ¥6.2M · 40.1（parent only）
Prestige International[4290]
Japan + 2 more
- Revenue
- ¥70.9B▲11.3%
- Operating income
- ¥10.2B▲6.7%
Margin 14.4%
Whole company: Revenue ¥70.9B · Net income ¥5.92B
Oisix ra daichi[3182]
Social service + 1 more
- Revenue
- ¥54.9B▼13.7%
- Operating income
- ¥2.87B▼8.9%
Margin 5.2%
Whole company: Revenue ¥251.4B · Net income ¥4.53B
Avg. salary ¥6.9M · 41.1（parent only）
Pole To Win Holdings[3657]
- Revenue
- ¥48.8B▼6.5%
- Operating income
- -¥238.5MTurned to loss
Margin -0.5%
Avg. salary ¥8.4M · 48.7（parent only）
Tisi[3626]
Business Process Management
- Revenue
- ¥42.8B▲5.6%
- Operating income
- ¥6.4B▲20.1%
Margin 14.9%
Whole company: Revenue ¥596.5B · Net income ¥46.6B
Avg. salary ¥8.3M · 40.0（parent only）
※ Card revenue and operating income cover only the segment in this industry; “Whole company” shows consolidated revenue and net income.
Other companies: Maruzen CHI Holdings · Bewith · Careerlink · Kyodo Printing · Shin Maint Holdings · Nakabayashi · HITO-Communications Holdings · DMS · Direct Marketing MiX · Systena · Crestec · Inest · Belluna · SENKO Group Holdings · S-Pool · KOSAIDO Holdings · E-Guardian · GIG Works · Ricoh Leasing Company · Business Brain Showaota · Nalnet Communications · Itfor · HONYAKU Center · CSS Holdings · Takara & Company · AKIBA Holdings · Wowow · Kycom Holdings · Rococo · F&M · Fullcast Holdings · ブリッジインターナショナルグループ株式会社 · Caster · Imura & · Systems Design · Sunnexta Group · creo · E-Supportlink · Senshukai · Dear Life …+30
The weather is derived mechanically from year-over-year totals of revenue and operating income (both up = sunny, both down = rainy).
Industry takeaways
AI summary (figures come from filings)
- TOPPAN Holdings' information and communication segment leads with ¥903.9B in revenue, 26% of the listed total, and Dai Nippon Printing's smart communication segment follows with ¥748.7B.
- Neither makes much on it: TOPPAN's operating margin is 5.0% and Dai Nippon Printing's is 5.3%, while Relo Group's outsourcing business reports 28.4%.
- PERSOL Holdings' BPO segment grew revenue by +24.3%. Oisix ra daichi went the other way, at -13.7%.
Who earns the money
Area = revenue from businesses in this industry. Color = operating margin.
Who makes a profit
Across = revenue (log scale), up = operating margin, bubble size = operating income.
Ranking and momentum
| Rank | Company (business) | Revenue | Share | Op. margin | CAGR | FCF* |
|---|---|---|---|---|---|---|
| 1 | TOPPAN HoldingsInformation and communication | ¥903.9B | 24.9% | 5.0% | +0.4% | -¥61.8B |
| 2 | Dai Nippon PrintingSmart communication | ¥748.7B | 20.6% | 5.3% | — | -¥32.6B |
| 3 | transcosmosStand-alone service + 2 more | ¥393.9B | 10.8% | 4.2% | +2.7% | ¥16.3B |
| 4 | Pasona GroupBPO Solution,Expert Solution | ¥269.3B | 7.4% | 3.6% | — | -¥14B |
| 5 | 株式会社ベルシステム24ホールディングスCRM Business | ¥145.6B | 4.0% | — | +0.0% | ¥15.5B |
| 6▲1 | Persol HoldingsBPO | ¥135.4B | 3.7% | 7.6% | — | ¥60.5B |
| 7▼1 | SecomBPO & ICT | ¥129.9B | 3.6% | 6.9% | +2.9% | ¥113B |
| 8 | Relo GroupOutsourcing Business | ¥80.8B | 2.2% | 28.3% | — | ¥15.5B |
| 9 | Prestige InternationalJapan + 2 more | ¥70.9B | 1.9% | 14.4% | +11.0% | ¥4.11B |
| 10 | Oisix ra daichiSocial service + 1 more | ¥54.9B | 1.5% | 5.2% | — | ¥7.41B |
| 11 | Pole To Win Holdings | ¥48.8B | 1.3% | -0.5% | +9.3% | -¥430.1M |
| 12 | TisiBusiness Process Management | ¥42.8B | 1.2% | 14.9% | +1.3% | ¥53.4B |
| 13▲1 | Maruzen CHI HoldingsLibrary Supplies and Support Business | ¥39.3B | 1.1% | 7.7% | +5.5% | ¥1.36B |
| 14▼1 | Bewith | ¥36.4B | 1.0% | 2.9% | +6.0% | ¥673M |
| 15 | CareerlinkClerical human resources services | ¥35.5B | 1.0% | 9.9% | -1.1% | ¥2.35B |
| 16▲1 | Kyodo PrintingInformation and security Branch | ¥30.5B | 0.8% | 3.7% | +4.9% | ¥1.66B |
| 17▲2 | Shin Maint Holdings | ¥29.9B | 0.8% | 6.2% | +16.2% | ¥1.65B |
| 18▼2 | NakabayashiBusiness process solution | ¥29.6B | 0.8% | 3.8% | -2.5% | ¥2.63B |
| 19▲1 | HITO-Communications HoldingsOutsourcing | ¥25.8B | 0.7% | 2.5% | -1.0% | ¥1.02B |
| 20▲1 | DMSDirect mail | ¥24.8B | 0.7% | 7.4% | — | ¥1.53B |
| 21▲1 | Direct Marketing MiXMarketing business + 1 more | ¥22.7B | 0.6% | 14.9% | -7.0% | ¥2.42B |
| 22▲1 | SystenaITandDX Services Business | ¥21.9B | 0.6% | 14.4% | — | ¥12.8B |
| 23▲1 | CrestecSoutheast asia/South asia + 3 more | ¥18.8B | 0.5% | 7.0% | +2.2% | ¥1.51B |
| 24▲1 | Inest | ¥18.2B | 0.5% | 1.4% | +31.8% | -¥588M |
| 25▲1 | BellunaDatabase utilization business | ¥17.9B | 0.5% | 25.2% | +4.2% | -¥15B |
| 26▲1 | SENKO Group HoldingsBusiness Support | ¥17.6B | 0.5% | 15.5% | +23.2% | ¥15B |
| 27▲1 | S-PoolBusiness solution segment | ¥16.5B | 0.5% | 21.7% | — | ¥3.69B |
| 28▲1 | KOSAIDO HoldingsInformation | ¥15B | 0.4% | 4.4% | -5.9% | ¥17.5B |
| 29▲1 | E-Guardian | ¥11.3B | 0.3% | 13.3% | +3.3% | ¥964.2M |
| 30▲1 | GIG WorksOnDemand Economy | ¥10.3B | 0.3% | 6.6% | -8.1% | -¥26.2M |
| 31▲2 | Ricoh Leasing CompanyService business | ¥10.3B | 0.3% | 10.7% | +11.9% | — |
| 32▲3 | Business Brain ShowaotaBPO Services, Reportable segment | ¥10B | 0.3% | 9.1% | +6.1% | ¥4.08B |
| 33▲3 | Nalnet Communications | ¥9.93B | 0.3% | 8.2% | +12.2% | ¥755.1M |
| 34 | ItforRecurring | ¥9.43B | 0.3% | 20.2% | +7.1% | ¥2.34B |
| 35▼3 | HONYAKU CenterTranslation Business + 1 more | ¥9.42B | 0.3% | 7.0% | +2.6% | ¥565.4M |
| 36▲1 | CSS HoldingsSteward | ¥9.35B | 0.3% | 5.9% | +29.2% | ¥646.3M |
| 37▲1 | Takara & CompanyInterpretation and translation business | ¥7.92B | 0.2% | 4.9% | +8.0% | ¥3.41B |
| 38▲1 | AKIBA HoldingsTelecom Construction Tech | ¥7.79B | 0.2% | 5.1% | — | -¥91.9M |
| 39▲1 | WowowTelemarketing | ¥7.02B | 0.2% | 1.3% | — | ¥1.54B |
| 40▲1 | Kycom HoldingsInformation technology business | ¥6.52B | 0.2% | 6.3% | +7.4% | ¥243.9M |
| 41▲1 | RococoITO and BPO business | ¥6.17B | 0.2% | 5.5% | +9.2% | ¥616.5M |
| 42▲1 | F&MAccounting service income | ¥5.5B | 0.2% | 34.0% | +10.7% | ¥1.56B |
| 43▲12 | Fullcast HoldingsSales support business | ¥5.05B | 0.1% | 4.9% | +9.4% | ¥623M |
| 44 | ブリッジインターナショナルグループ株式会社Inside sales outsourcing | ¥4.63B | 0.1% | 12.2% | — | ¥385.8M |
| 45 | Caster | ¥4.59B | 0.1% | -8.3% | — | -¥381.9M |
| 46▲4 | Imura &Mailing and Digital Solutions | ¥4.55B | 0.1% | 6.2% | — | -¥2.45B |
| 47 | Systems DesignOutsourcing | ¥4.38B | 0.1% | 3.2% | +2.2% | ¥718.4M |
| 48 | Sunnexta GroupCorporate house management services | ¥4.37B | 0.1% | 27.1% | +1.3% | -¥144.6M |
| 49▼3 | creoSupport Service Business | ¥4.28B | 0.1% | 6.4% | -1.1% | ¥944M |
| 50▲2 | E-SupportlinkOperations support business consignment | ¥4.02B | 0.1% | 32.6% | +1.1% | -¥378.6M |
Showing the top 50. See all 82 in the list below
* FCF is company-wide (not disclosed by segment). CAGR covers the available years, up to five.
How they make money differently
Where each company's ¥100 of sales goes, and how much it keeps (company-wide).
- Cost of sales
- Operating costs
- SG&A
- Other
- Operating profit
- Relo Group542820
- Systena741016
- Secom681913
- Prestige International78913
- Tisi721513
- 株式会社ベルシステム24ホールディングス81119
- Careerlink78139
- Direct Marketing MiX919
- Belluna37558
- Dai Nippon Printing76177
- Crestec70237
- Shin Maint Holdings7717
- Nakabayashi7322
- DMS90
- TOPPAN Holdings7620
- transcosmos8115
- Persol Holdings7719
- HITO-Communications Holdings8016
- Oisix ra daichi7126
- Maruzen CHI Holdings7423
- Bewith8611
- Kyodo Printing7919
- Inest1883
- Pasona Group7822
- Pole To Win Holdings7723
Showing the 25 largest companies by revenue.
Ownership links
From the major-shareholder section of annual securities reports.
- RIZAPグループ株式会社Outside
- SubsidiarySD Entertainment59.6%
- Dai Nippon PrintingIn industry
- SubsidiaryMaruzen CHI Holdings54.9%
- Pasona GroupIn industry
- SubsidiaryBewith54.4%
- 株式会社チェンジホールディングスOutside
- AffiliateE-Guardian49.7%
- 伊藤忠商事㈱Outside
- Affiliate株式会社ベルシステム24ホールディングス40.3%
- Dear LifeIn industry
- AffiliatePalma39.3%
- 株式会社プレミアムウォーターホールディングスOutside
- AffiliateInest37.9%
- 株式会社三菱ＵＦＪフィナンシャル・グループOutside
- AffiliateAcom37.6%
- 株式会社リコーOutside
- AffiliateRicoh Leasing Company33.6%
- アマノ株式会社Outside
- Affiliatecreo32.6%
- 三井不動産株式会社Outside
- AffiliateResol Holdings31.0%
- ㈱フジ・メディア・ホールディングスOutside
- AffiliateWowow20.9%
- コナミグループ株式会社Outside
- AffiliateResol Holdings20.4%
- ＫＤＤＩ株式会社Outside
- AffiliateCrops20.3%
- 株式会社マネーフォワードOutside
- AffiliateCaster20.3%
- ㈱スズケンOutside
- AffiliatePharmarise Holdings20.1%
- 株式会社イエローハットOutside
- AffiliateNalnet Communications20.0%
- みずほリース株式会社Outside
- StakeRicoh Leasing Company19.9%
- エムスリー株式会社Outside
- StakeHONYAKU Center19.8%
- ㈱ＴＢＳホールディングスOutside
- StakeWowow16.0%
- SecomIn industry
- StakeTosnetcorporation15.5%
- LINEヤフー株式会社Outside
- Stakecreo13.6%
- 東日本旅客鉄道株式会社Outside
- StakeSenshukai12.2%
- パナソニックホールディングス株式会社Outside
- StakeEpco11.2%
The company on each card is a major shareholder of the companies listed under it (latest 'major shareholders' disclosure). 50%+ is labelled subsidiary and 20%+ affiliate, based on ownership alone. Stakes under 3% are omitted. Showing up to 24 shareholder cards.
Compare the leaders side by side
All companies in Business Process Outsourcing (by revenue)
All 83 companies in this industry, ranked by revenue in each company's latest fiscal year. For companies that belong through one business segment, the figure is that segment's revenue.
- TOPPAN Holdings¥903.9B · 5.0%
- Dai Nippon Printing¥748.7B · 5.3%
- transcosmos¥393.9B · 4.2%
- Pasona Group¥266.2B · 3.8%
- 株式会社ベルシステム24ホールディングス¥145.6B
- Persol Holdings¥135.4B · 7.6%
- Secom¥129.9B · 6.9%
- Relo Group¥80.8B · 28.3%
- Prestige International¥70.9B · 14.4%
- Oisix ra daichi¥54.9B · 5.2%
- Pole To Win Holdings¥48.8B · -0.5%
- Tisi¥42.8B · 14.9%
- Maruzen CHI Holdings¥39.3B · 7.7%
- Bewith¥36.3B · 3.2%
- Careerlink¥35.5B · 9.9%
- Kyodo Printing¥30.5B · 3.7%
- Shin Maint Holdings¥29.9B · 6.2%
- Scroll¥29.9B · 3.0%
- Nakabayashi¥29.6B · 3.8%
- HITO-Communications Holdings¥25.8B · 2.5%
- DMS¥24.8B · 7.4%
- Direct Marketing MiX¥22.7B · 14.9%
- Systena¥21.9B · 14.4%
- Crestec¥18.3B · 7.3%
- Inest¥18.2B · 1.4%
- Belluna¥17.9B · 25.2%
- SENKO Group Holdings¥17.6B · 15.5%
- S-Pool¥16.5B · 21.7%
- KOSAIDO Holdings¥15B · 4.4%
- E-Guardian¥11.3B · 13.3%
- GIG Works¥10.3B · 6.6%
- Ricoh Leasing Company¥10.3B · 10.7%
- Business Brain Showaota¥10B · 9.1%
- Nalnet Communications¥9.93B · 8.2%
- Itfor¥9.43B · 20.2%
- HONYAKU Center¥9.42B · 7.0%
- CSS Holdings¥9.35B · 5.9%
- Takara & Company¥8.3B · 5.6%
- AKIBA Holdings¥7.79B · 5.1%
- Wowow¥7.02B · 1.3%
- Kycom Holdings¥6.52B · 6.3%
- Rococo¥6.17B · 5.5%
- F&M¥5.5B · 34.0%
- Fullcast Holdings¥5.05B · 4.9%
- Sunnexta Group¥4.63B · 26.2%
- ブリッジインターナショナルグループ株式会社¥4.63B · 12.2%
- Caster¥4.59B · -8.3%
- Imura &¥4.55B · 6.2%
- Systems Design¥4.38B · 3.2%
- creo¥4.28B · 6.4%
- E-Supportlink¥4.02B · 32.6%
- Senshukai¥4.01B · 6.3%
- Dear Life¥3.94B · 2.0%
- Emergency Assistance Japan¥3.71B · 17.0%
- adish¥3.7B · 0.1%
- CDS¥3.49B · 24.2%
- Correc Holdings¥3.13B · 7.7%
- Uluru.¥2.85B · 11.8%
- virtualex holdings¥2.85B · 18.2%
- MITRA Group¥2.77B · 27.1%
- Ecomic¥2.35B · 7.4%
- Inbound Tech¥2.13B · 14.0%
- Repriority¥1.95B · 16.0%
- Epco¥1.93B · 15.1%
- Value HR¥1.81B · 17.7%
- EduLab¥1.52B · 24.8%
- Palma¥1.46B · 33.0%
- Ifis Japan¥1.41B · 7.1%
- Acmos¥1.38B · 3.3%
- Kawase Computter Supplies¥1.23B · 15.5%
- Resol Holdings¥1.05B · 12.3%
- Kyoritsu¥927.8M · 9.2%
- Riskmonster.com¥815M · 1.2%
- Future Link Network¥778.1M · 28.5%
- MetaReal¥708.7M · 17.6%
- Crops¥665M · -0.1%
- SD Entertainment¥653.8M · 18.4%
- Pharmarise Holdings¥647M · 15.5%
- Recomm¥573.9M · 2.0%
- Tosnetcorporation¥354.2M · 2.1%
- Image Information¥117.5M · 10.6%
- Acom¥102M · 303.9%
- Showa System Engineering¥79.6M · 14.3%
Revenue · Op. margin
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