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JAC Recruitment Co., Ltd.
(2124)
Select Model
Select Model
Rating:82Outperform
Price Target:
¥1,205.00
▲(13.15% Upside)
Action:Reiterated
Date:08/06/26
Overall score is driven primarily by very strong financial fundamentals (high margins, high ROE, minimal leverage, and solid cash generation). Valuation is supportive due to a moderate P/E and a high dividend yield. Technical indicators are mixed/neutral, which tempers the score despite the strong fundamentals.
Positive Factors
Strong revenue and margin growth
Sustained revenue expansion combined with very high gross margins indicates a scalable specialist recruitment model. The 2025 margin improvement also suggests effective cost control and pricing power, supporting durable earnings capacity over the next several quarters.
Negative Factors
Earnings and margin variability
The uneven earnings path shows that strong structural profitability does not eliminate operating volatility. Margin normalization or another weaker period could affect near-term profit momentum, making sustained returns dependent on continued cost control and hiring demand.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong revenue and margin growth
Sustained revenue expansion combined with very high gross margins indicates a scalable specialist recruitment model. The 2025 margin improvement also suggests effective cost control and pricing power, supporting durable earnings capacity over the next several quarters.
Read all positive factors
JAC Recruitment Co., Ltd. (2124) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥168.97B
Dividend Yield5.56%
Average Volume (3M)234.20K
Price to Earnings (P/E)17.4
Beta (1Y)0.36
Revenue Growth12.35%
EPS Growth28.70%
CountryJP
Employees2,398
SectorIndustrials
Sector Strength72
IndustryStaffing & Employment Services
Share Statistics
EPS (TTM)56.82
Shares Outstanding165,557,200
10 Day Avg. Volume210,170
30 Day Avg. Volume234,196
Financial Highlights & Ratios
PEG Ratio0.40
Price to Book (P/B)7.56
Price to Sales (P/S)3.66
P/FCF Ratio17.99
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥1,300.00Price Target Upside22.07% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)59.49
Revenue Forecast (FY)¥52.92B
JAC Recruitment Co., Ltd. Business Overview & Revenue Model
Company Description
Operating as a prominent human resources consultancy within Japan, JAC Recruitment Co., Ltd. specializes in talent acquisition, particularly for specialist and middle management roles. The firm delivers its recruitment solutions under a diverse po...
How the Company Makes Money
The company primarily makes money by providing recruitment placement services to corporate clients. Its core revenue stream is success-based (contingent) placement fees paid by employers when a candidate introduced by JAC Recruitment is successful...
JAC Recruitment Co., Ltd. Financial Statement Overview
Summary
Income Statement
90
Very Positive
Balance Sheet
95
Very Positive
Cash Flow
88
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 48.65B | 46.09B | 39.16B | 34.48B | 30.43B | 24.85B |
| Gross Profit | 44.71B | 42.25B | 35.60B | 31.16B | 27.48B | 22.49B |
| EBITDA | 13.08B | 12.15B | 9.75B | 8.88B | 7.62B | 6.33B |
| Net Income | 9.02B | 8.40B | 5.61B | 5.98B | 5.03B | 3.88B |
Balance Sheet | ||||||
| Total Assets | 30.00B | 30.89B | 26.01B | 23.52B | 22.08B | 18.93B |
| Cash, Cash Equivalents and Short-Term Investments | 20.63B | 23.31B | 19.05B | 16.77B | 14.88B | 12.93B |
| Total Debt | 242.00M | 0.00 | 307.00M | 353.00M | 449.00M | 2.00M |
| Total Liabilities | 8.18B | 8.55B | 7.92B | 6.30B | 6.50B | 5.57B |
| Stockholders Equity | 21.82B | 22.34B | 18.09B | 17.22B | 15.59B | 13.37B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 9.39B | 7.93B | 6.93B | 5.60B | 5.06B |
| Operating Cash Flow | 0.00 | 9.57B | 8.12B | 7.09B | 5.91B | 5.09B |
| Investing Cash Flow | 0.00 | -8.78B | -607.00M | -461.00M | -944.00M | -436.00M |
| Financing Cash Flow | 0.00 | -4.61B | -5.31B | -4.84B | -3.17B | -5.40B |
JAC Recruitment Co., Ltd. Technical Analysis
Positive
1065.00
Price Trends
898.18
Positive
868.74
Positive
919.76
Positive
Market Momentum
32.59
Negative
59.15
Neutral
73.22
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:2124, the sentiment is Positive. The current price of 1065 is above the 20-day moving average (MA) of 958.60, above the 50-day MA of 898.18, and above the 200-day MA of 919.76, indicating a bullish trend. The MACD of 32.59 indicates Negative momentum. The RSI at 59.15 is Neutral, neither overbought nor oversold. The STOCH value of 73.22 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:2124.
JAC Recruitment Co., Ltd. Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
91 Outperform | ¥253.35B | 16.85 | 32.73% | 5.84% | 2.95% | 19.02% | |
82 Outperform | ¥168.97B | 17.42 | ― | 2.38% | 12.35% | 28.70% | |
79 Outperform | ¥21.75T | 38.48 | 33.09% | 0.21% | 9.31% | 43.87% | |
76 Outperform | ¥646.47B | 14.41 | 20.65% | 4.42% | 9.70% | 30.96% | |
67 Neutral | ¥135.97B | 16.47 | ― | 7.51% | -12.99% | 45.36% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
51 Neutral | ¥61.85B | -18.04 | -2.64% | 0.77% | -0.24% | 59.25% |
* Industrials Sector Average
JP:2124
JAC Recruitment Co., Ltd.
990.00
-103.28
-9.45%
JP:9744
Meitec
3,320.00
149.79
4.73%
JP:2168
Pasona Group
1,627.00
-441.08
-21.33%
JP:6098
Recruit Holdings Co
15,740.00
6,797.79
76.02%
JP:2181
PERSOL HOLDINGS CO
287.40
18.51
6.88%
JP:2146
UT Group Co.,Ltd.
225.00
54.69
32.11%
JAC Recruitment Co., Ltd. Corporate Events
JAC Recruitment Publishes Semiannual Domestic Sales and Staffing Data
Aug 12, 2026
JAC Recruitment Co., Ltd. has disclosed monthly consolidated net sales and related results for its domestic recruitment business for the six months ended 30 June 2026. The data, published to enhance transparency for shareholders and investors, cov...
JAC Recruitment Delivers Record 1H FY2026 Earnings Despite Geopolitical Headwinds
Aug 12, 2026
JAC Recruitment Co., Ltd. reported consolidated results for the first half of fiscal 2026 showing robust growth despite external headwinds. Revenue increased 11.0% year on year to ¥25.8 billion, while gross profit rose 11.7%, highlighting sol...
JAC Recruitment Launches ¥3.5 Billion Share Buyback and Cancellation Plan
Aug 12, 2026
JAC Recruitment Co., Ltd. has approved a program to acquire up to 3,000,000 of its common shares, representing about 1.89% of its issued shares excluding treasury stock, for a maximum total cost of ¥3.5 billion via market purchases on the Tok...
JAC Recruitment Delivers Strong First-Half Earnings and Confirms 2026 Outlook
Aug 12, 2026
JAC Recruitment reported consolidated net sales of ¥25.8 billion for the six months ended 30 June 2026, up 11.0% year on year, with operating income rising 13.9% to ¥7.1 billion and profit attributable to owners of parent increasing 14.4...
JAC Recruitment Announces Minor Change in Major Shareholder’s Stake
Jul 8, 2026
JAC Recruitment Co., Ltd. has reported a change in its major shareholders as of 30 June 2026, following an update to its shareholder register by Sumitomo Mitsui Trust Bank, the administrator. Major shareholder Shingo Kanaoya slightly reduced his s...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.