Overview
Information & Communication

OpenWork Inc.

OpenWork operates Japan's largest employee review-based job market information platform, 'OpenWork,' which aggregates over 20.6 million employee reviews from approximately 81,000 companies to help job seekers make informed career decisions. The platform generates revenue through user premium memberships and referral fees from partner recruitment service providers, while also offering corporate clients recruitment support ('OpenWork Recruiting') and organizational development analytics ('DAP'). Leveraging its proprietary working data platform, the company also provides employee review data to financial institutions for investment decision-making purposes.

Market Cap
¥19.4B
US$124M
EV
¥11.5B
US$73.1M
Stock¥934▼-0.43%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
7.8
x
LTM EV/EBIT
7.9
x
LTM PER
19.5
x
LTM PBR
2.5
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-31.5%pt
1001
Oct 24, 25 – Oct 23, 26StockTOPIX
1Feb 12, 26Earnings concerns-driven correction
MC → EV Bridge
19.4BUS$124MMarket Cap0.17BUS$1.12M+ Debt8.06BUS$51.4M− Cash0.05BUS$0.31M− Inv. Sec.11.5BUS$73.1MEV
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Performance & Balance
Revenue 5Y (¥B)
2.04US$13.0M'22/122.92US$18.6M'23/123.54US$22.6M'24/124.65US$29.7M'25/12
EBITDA 5Y (¥B)
0.33US$2.11M'21/120.62US$3.94M'22/120.86US$5.52M'23/121.04US$6.64M'24/121.22US$7.75M'25/12
Net Income 5Y (¥B)
0.40US$2.57M'22/120.61US$3.91M'23/120.76US$4.83M'24/120.84US$5.34M'25/12
Capital Structure
98%
EquityD/E 0.02xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
2.81US$18.0M'21/124.80US$30.6M'22/125.95US$38.0M'23/126.62US$42.2M'24/127.63US$48.7M'25/12
Shareholders
Top 10 hold 88.8%
1
Link and Motivation Inc.
52.58%
2
Shinjiro MASUI
17.08%
3
INTERACTIVE BROKERS LLC (Standing Proxy: Interactive Brokers Securities Japan Inc.)
7.91%
4
Custody Bank of Japan, Ltd. (Trust Account)
3.49%
5
Motohiro OGURA
1.92%
6
Koji KAWASHIMA
1.70%
7
AG Capital Co., Ltd.
1.22%
8
The Master Trust Bank of Japan, Ltd. (Trust Account)
1.09%
9
Hiroyuki OZAWA
0.96%
10
BBH LUX/BROWN BROTHERS HARRIMAN (LUXEMBOURG) SCA CUSTODIAN FOR SMD-AM FUNDS-DSBI JAPAN EQUITY SMALL CAP ABSOLUTE VALUE (Standing Proxy: Sumitomo Mitsui Banking Corporation)
0.82%
Management
7 officers
Haruki OSAWA
Representative Director, President
Apr 2009 Joined Link and Motivation Inc. Oct 2018 Seconded to Vokers Inc. (now the Company), concurrently Jan 2019 Executive Officer, the Company Nov 2019 Director and Executive Vice President, the Company Apr 2020 Representative Director, President, the Company (current)
1985-02-10
Shunsuke IKEUCHI
Director and Executive Officer
Apr 2008 Joined Inks Inc. (now SOLIZE Corporation) Oct 2009 Joined Works Applications Co., Ltd. Apr 2016 Joined the Company Oct 2018 Executive Officer, the Company Nov 2019 Director (in charge of Product), the Company (current) Apr 2024 Executive Officer, the Company (current)
1983-07-15
Takako WAKATSUKI
Director
Apr 1992 Joined Seiyu Co., Ltd. Aug 2007 Joined Industrial Growth Platform, Inc. Mar 2012 Joined Krispy Kreme Doughnuts Japan Co., Ltd., General Manager, Administration Division Aug 2012 Executive Officer and General Manager, Administration Division, same company Oct 2014 Executive Officer and Vice President, same company Apr 2017 Representative Director, President, same company (current) Apr 2021 Director, the Company (current)
1969-09-27
Koji ONOZUKA
Director
Aug 2001 Joined Fields Corporation Jul 2007 Managing Director, KIZUNA CAST Inc. Oct 2007 Representative Director, President, KIZUNA VISION Inc. Oct 2008 Joined En Japan Inc. (now En Corporation) Jan 2009 General Manager, Management Planning Office, same company Nov 2010 Director, Pharmanetwork Co., Ltd. Mar 2012 Joined Cross Marketing Inc., General Manager, Management Planning Office Jan 2013 General Manager, Sales Planning Department, same company Jan 2014 General Manager, Group Business Promotion Department, same company Feb 2014 Seconded to Cross Marketing Group Inc. Jun 2014 General Manager, Corporate Division, same company Sep 2014 Director, Cross Marketing Inc. (current); Director, Cross Marketing Group Inc. Nov 2014 Director, Kadence International Business Research Pte. Ltd. (current) Mar 2015 Director, UNCOVER TRUTH Inc. Jun 2015 Director and CFO, Cross Marketing Group Inc. (current) Jan 2016 General Manager, Group Management Strategy Department, same company Dec 2020 Representative Director, President, Envirocell Japan Inc. (current) Jan 2021 Director, DO HOUSE Inc. (now EXCREIX Inc.) (current) May 2022 Representative Director, President, Cross Ventures Inc. (current) Jan 2023 General Manager, Group Management Planning Division, Cross Marketing Group Inc. (current) Mar 2023 Director, the Company (current) Jul 2023 Representative Director, President, Fittio Inc. (now Alterna Ex Inc.) (current) Chairman, Kadance International Inc. (China) Sep 2023 Representative Director, President, Karada Laboratory Inc. (now Pass Creation Inc.)
1976-10-21
Yukiko TAKAHASHI
Full-time Corporate Auditor
Apr 1984 Joined Bandai Co., Ltd. Oct 2000 Transferred to Bandai Networks Co., Ltd. (now Bandai Namco Entertainment Inc.) Apr 2006 Joined Catalyst Mobile Inc. (now Neos Corporation) May 2012 Director and Executive Officer, Prime Works Inc. (now Neos Corporation) May 2014 Executive Officer, Neos Corporation Jun 2014 Director, seconded to e-Flow Inc. Jan 2016 Joined Catarina Inc. Aug 2016 Director, same company Apr 2020 Corporate Auditor, the Company (current)
1964-02-06
Kengo HIRABAYASHI
Corporate Auditor
Oct 2004 Registered as attorney; joined Paul Hastings LLP Nov 2009 Joined NAVER Japan Corporation (now LY Corporation) Jun 2013 Partner, City Lights Law Office (current) Mar 2017 Joined SmartNews, Inc. Aug 2017 Outside Corporate Auditor, Asobimo Inc. Feb 2019 Director, Slow News Inc. Sep 2020 Corporate Auditor, the Company (current)
1978-02-15
Shunichi OHNO
Corporate Auditor
Oct 1992 Joined Aoyama Audit Corporation (Price Waterhouse) Jul 1998 Joined PwC Consulting Co., Ltd. (now IBM Japan, Ltd.) Jul 2002 Joined Link and Motivation Inc. Mar 2008 Director, same company (current) Nov 2010 Founded Motivation Academia Inc., Director (current) Jan 2011 Director, Link Dining Inc. (current) Mar 2011 Director, Link Investor Relations Inc. (now Link Sokuchi Inc.) (current) Jun 2011 Director, Aviva Inc. (now Link Academy Inc.) (current) Jan 2013 Director, Raisei Inc. (now Link I Inc.) (current) Jun 2015 Outside Director, Youji Katsudo Kenkyukai Co., Ltd. (current) Oct 2016 Director, Link Japan Career Inc. (now Link Interact Inc.) (current) Jan 2020 Director, the Company Oct 2021 Corporate Auditor, the Company (current) Apr 2025 Director, Japan Strategic Finance Co., Ltd. (current) Aug 2025 Director, Unipos Inc. (current) Aug 2025 Director, Chorus Call Asia Inc. (now e-Associates Inc.) (current)
1967-05-23
Large Shareholding Reports
Sumitomo Mitsui DS Asset Management Co., Ltd.
2026-08-20
5.00%→3.93%
Shinjiro MASUI
2026-02-09
17.88%→16.85%
Annual report (as of 2026-06-30): 17.08%
Shinjiro MASUI
2025-08-19
18.94%→17.88%
Annual report (as of 2026-06-30): 17.08%
Disclosures
No disclosures
Primary Source Filings
EDINET
2026-08-20
Large Shareholding Report
TDnet
2026-08-10
Q2 Earnings Flash
FY ending Dec 2026
EDINET
2026-08-10
Semi-Annual Securities Report
Period: Jan 2026 – Dec 2026
TDnet
2026-05-14
Q1 Earnings Flash
FY ending Dec 2026
EDINET
2026-03-24
Annual Securities Report
Period: Jan 2025 – Dec 2025
EDINET
2026-02-09
Large Shareholding Report
TDnet
2025-11-13
Q3 Earnings Flash
FY ending Dec 2025
EDINET
2025-08-19
Large Shareholding Report
EDINET
2025-08-12
Semi-Annual Securities Report
Period: Jan 2025 – Dec 2025
TDnet
2025-05-14
Q1 Earnings Flash
FY ending Dec 2025
EDINET
2025-03-27
Annual Securities Report
Period: Jan 2024 – Dec 2024
EDINET
2024-08-09
Semi-Annual Securities Report
Period: Jan 2024 – Dec 2024
EDINET
2024-05-14
Quarterly Securities Report
Period: Jan 2024 – Mar 2024
EDINETAmended
2024-04-04
Amended Annual Securities Report
Period: Jan 2023 – Dec 2023
EDINET
2024-03-29
Annual Securities Report
Period: Jan 2023 – Dec 2023
EDINET
2023-11-13
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-08-10
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-05-12
Quarterly Securities Report
Period: Jan 2023 – Mar 2023
EDINET
2023-03-31
Annual Securities Report
Period: Jan 2022 – Dec 2022
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