Improving Business Expense Efficiency
First written in FY2017. 19 of 28 entries say "Restated". Latest entry: 2026-09-30.
The whole theme swung hardest in 2019: 1 of 7 companies on the "Worse" side.
9 other companies' latest entry also says "Advanced".
- FY2026AdvancedAnnual report
「Insurance acquisition cash flow efficiency, a measure of new business acquisition efficiency, improved. The expense ratio excluding insurance acquisition cash flows declined from 16.7% in the previous fiscal year to 15.1% in the fiscal year under review. The improvement was primarily attributable to economies of scale resulting from business expansion and higher productivity as both the individual insurance and group credit life insurance businesses grew.」
Acquisition efficiency per new contract improved from ¥133,000 to ¥120,000, while the expense ratio excluding acquisition costs improved from 16.7% to 15.1%. The company attributed this to business expansion and higher productivity. - 2026-05-13AdvancedEarnings presentation
「Under the new structure, a renewed offensive in individual insurance and improved expense efficiency made a significant contribution to CSM growth」
Improved sales efficiency in individual insurance and improved expense efficiency were explained as specific initiatives contributing to CSM growth. - FY2025Deteriorating acquisition efficiency and improved expense ratio excluding acquisition costsAnnual report
「The expense ratio excluding insurance acquisition cash flows declined from 18.4% in the previous fiscal year to 16.7% in the fiscal year under review.」
Acquisition efficiency deteriorated from ¥129,000 to ¥133,000, while the expense ratio excluding insurance acquisition cash flows improved from 18.4% to 16.7% due to economies of scale from the increase in in-force mortgage-related group credit life insurance policies. - FY2024Lower insurance acquisition efficiency and improved expense ratio excluding acquisition costsAnnual report
「Insurance acquisition cash flow efficiency increased from ¥105,000 in the previous fiscal year to ¥129,000 in the fiscal year under review. The expense ratio excluding insurance acquisition cash flows declined from 20.7% in the previous fiscal year to 18.4% in the fiscal year under review.」
The efficiency metrics were changed to insurance acquisition cash flow efficiency and other measures following the adoption of IFRS. Acquisition efficiency deteriorated, while the expense ratio excluding insurance acquisition cash flows improved. - FY2024-Q3RestatedAnnual report
「Insurance acquisition cash flows, which comprise expenses directly attributable to acquiring groups of insurance contracts, including marketing, underwriting of new contracts, and system-related expenses, were 84.6% of the prior-year level at ¥6,473 million among the expenses incurred during the first nine months of the fiscal year under review that were directly related to fulfilling insurance contracts. Maintenance costs, which are expenses not included in insurance acquisition cash flows, were 111.1% of the prior-year level at ¥3,302 million.」
Insurance acquisition cash flows declined to 84.6% of the prior-year level, while maintenance costs increased to 111.1%. Although the change in the expense mix was presented, no new explicit information was provided on improvements in business expense efficiency. - FY2024-Q2RestatedAnnual report
「Of the expenses incurred during the first half of the fiscal year under review that were directly related to fulfilling insurance contracts, insurance acquisition cash flows, which comprise expenses directly attributable to acquiring groups of insurance contracts, including marketing, underwriting of new contracts, and system-related expenses, were 87.1% of the prior-year level at ¥4,400 million. Maintenance costs, which are expenses not included in insurance acquisition cash flows, were 107.3% of the prior-year level at ¥2,098 million.」
Under the IFRS expense classification as well, insurance acquisition cash flows declined to 87.1% of the prior-year level, while maintenance costs increased to 107.3%, continuing the same trend as in the previous quarter. - FY2024-Q1Lower insurance acquisition cash flows and higher maintenance costsAnnual report
「Of the expenses incurred during the first quarter of the fiscal year under review that were directly related to fulfilling insurance contracts, insurance acquisition cash flows, which comprise expenses directly attributable to acquiring groups of insurance contracts, including marketing, underwriting of new contracts, and system-related expenses, were 87.5% of the prior-year level at ¥2,177 million. Maintenance costs, which are expenses not included in insurance acquisition cash flows, were 105.3% of the prior-year level at ¥1,016 million.」
Under the IFRS expense classification, insurance acquisition cash flows were 87.5% of the prior-year level, while maintenance costs were 105.3%. - FY2023-Q3RestatedAnnual report
「Operating expenses amounted to ¥9,924 million, or 113.8% of the year-earlier level, due mainly to continued investment in sales expenses centered on advertising. Of operating expenses, sales expenses amounted to ¥6,424 million, or 109.6% of the year-earlier level, insurance administration expenses amounted to ¥1,107 million, or 116.1%, and systems and other expenses amounted to ¥2,392 million, or 125.4%.」
The company continues to invest in operating expenses, primarily advertising and promotional expenses, as well as insurance administration, systems and other expenses. No new information was provided on improvements in business expense efficiency. - FY2023-Q2RestatedAnnual report
「Business expenses increased 111.3% year on year to ¥6,551 million, mainly due to investment in operating expenses, particularly advertising and promotional expenses. Of this total, operating expenses increased 105.2% to ¥4,237 million, insurance administration expenses increased 115.1% to ¥713 million, and systems and other expenses increased 129.4% to ¥1,600 million.」
The company continues to invest in operating expenses, primarily advertising and promotional expenses. Business expenses were 111.3% of the prior-year level in the interim period, while operating expenses were 105.2%, but no new information was provided on improvements in business expense efficiency. - FY2023-Q1RestatedAnnual report
「Business expenses totaled ¥3,220 million, or 108.7% of the prior-year period, due mainly to investment in selling expenses, particularly advertising expenditure. Of business expenses, selling expenses totaled ¥2,079 million, or 102.3% of the prior-year period; insurance administration expenses totaled ¥347 million, or 113.2%; and systems and other expenses totaled ¥793 million, or 127.5%.」
The company continues to invest in operating expenses, primarily advertising and promotional expenses. Although figures for total business expenses and each expense item were provided, no new information was given on improvements in business expense efficiency. - FY2022Slight improvement in the business expense ratio excluding selling expenses and decline in selling expense efficiencyAnnual report
「The business expense ratio excluding selling expenses was 19.5%, a slight improvement from 19.6% in the previous fiscal year, as premium income increased with the growth in in-force policies despite investment in personnel and other areas. Selling expense efficiency declined from ¥66,000 in the previous fiscal year to ¥82,000.」
The business expense ratio excluding selling expenses improved slightly from 19.6% to 19.5%, while selling expense efficiency declined from ¥66,000 to ¥82,000. - FY2022-Q3RestatedAnnual report
「Business expenses totaled ¥8,724 million, or 124.6% of the prior-year period, due mainly to investment in selling expenses, particularly advertising expenditure. Of business expenses, selling expenses totaled ¥5,862 million, or 127.0% of the prior-year period; insurance administration expenses totaled ¥953 million, or 125.8%; and systems and other expenses totaled ¥1,907 million, or 117.4%.」
Investment in selling expenses, particularly advertising expenditure, continued. Business expenses for the cumulative third quarter were 124.6% of the prior-year period, and selling expenses were 127.0%. No new results relating to improvements in business expense efficiency were reported. - FY2022-Q2RestatedAnnual report
「Business expenses totaled ¥5,885 million, or 127.0% of the prior-year period, due mainly to investment in selling expenses, particularly advertising expenditure. Of business expenses, selling expenses totaled ¥4,029 million, or 131.9% of the prior-year period; insurance administration expenses totaled ¥619 million, or 129.6%; and systems and other expenses totaled ¥1,236 million, or 112.4%.」
Investment in selling expenses, particularly advertising expenditure, continued. Business expenses for the interim period were 127.0% of the prior-year period, and selling expenses were 131.9%. No new results relating to improvements in business expense efficiency were reported. - FY2022-Q1RestatedAnnual report
「Business expenses totaled ¥2,963 million, or 126.6% of the prior-year period, due mainly to investment in selling expenses, particularly advertising expenditure. Of business expenses, selling expenses totaled ¥2,033 million, or 135.0% of the prior-year period; insurance administration expenses totaled ¥306 million, or 126.7%; and systems and other expenses totaled ¥622 million, or 105.1%.」
Investment in selling expenses, particularly advertising expenditure, continued. Business expenses for the cumulative first quarter were 126.6% of the prior-year period, and selling expenses were 135.0%. No new results relating to improvements in business expense efficiency were reported. - FY2021-Q3RestatedAnnual report
「Business expenses totaled ¥6,999 million, or 103.3% of the prior-year period, due mainly to investment in selling expenses, particularly advertising expenditure. Of business expenses, selling expenses totaled ¥4,615 million, or 101.1% of the prior-year period; insurance administration expenses totaled ¥758 million, or 113.6%; and systems and other expenses totaled ¥1,625 million, or 105.4%.」
Investment in selling expenses, particularly advertising expenditure, continued, and business expenses for the cumulative third quarter were 103.3% of the prior-year period. No new specific results relating to improvements in business expense efficiency were reported. - FY2021-Q2RestatedAnnual report
「Business expenses totaled ¥4,633 million, or 100.6% of the prior-year period, due mainly to investment in selling expenses, particularly advertising expenditure. Of business expenses, selling expenses totaled ¥3,054 million, or 95.9% of the prior-year period; insurance administration expenses totaled ¥478 million, or 112.7%; and systems and other expenses totaled ¥1,100 million, or 110.8%.」
Investment in selling expenses, particularly advertising expenditure, continued. Total business expenses were 100.6% of the prior-year period and selling expenses were 95.9%, but the Company did not report any improvement in business expense efficiency in this filing. - FY2021-Q1RestatedAnnual report
「Business expenses totaled ¥2,341 million, or 106.4% of the prior-year period. Of business expenses, selling expenses totaled ¥1,506 million, or 100.2% of the prior-year period, due mainly to continued substantial investment in advertising expenditure; insurance administration expenses totaled ¥242 million, or 114.8%; and systems and other expenses totaled ¥592 million, or 121.9%.」
Substantial investment in selling expenses, particularly advertising expenditure, continues. This filing shows no new results relating to improvements in business expense efficiency. - FY2020-Q3RestatedAnnual report
「Business expenses totaled ¥6,772 million, or 139.6% of the prior-year period, due mainly to substantial investments in selling expenses, particularly advertising expenditure. Of business expenses, selling expenses totaled ¥4,563 million, or 160.1% of the prior-year period; insurance administration expenses totaled ¥667 million, or 115.4%; and systems and other expenses totaled ¥1,542 million, or 108.5%.」
During the cumulative third quarter, substantial investment in selling expenses, particularly advertising expenditure, continued. Business expenses were 139.6% of the prior-year period, and selling expenses were 160.1%. No new results relating to improvements in business expense efficiency were reported. - FY2020-Q2RestatedAnnual report
「Business expenses totaled ¥4,604 million, or 153.6% of the prior-year period, due mainly to substantial investments in selling expenses, particularly advertising expenditure. Of business expenses, selling expenses totaled ¥3,186 million, or 185.1% of the prior-year period; insurance administration expenses totaled ¥424 million, or 115.6%; and systems and other expenses totaled ¥993 million, or 109.3%.」
Substantial investment in selling expenses, particularly advertising expenditure, continued. Business expenses for the interim period were 153.6% of the prior-year period, and selling expenses were 185.1%. This filing does not show any new results relating to improvements in business expense efficiency. - FY2020-Q1RestatedAnnual report
「Business expenses totaled ¥2,199 million, or 159.3% of the prior-year period. Of business expenses, selling expenses totaled ¥1,502 million, or 203.3% of the prior-year period, due mainly to substantial investment in advertising expenditure; insurance administration expenses totaled ¥211 million, or 112.0%; and systems and other expenses totaled ¥486 million, or 107.2%.」
Substantial investment in selling expenses, particularly advertising expenditure, continued. Business expenses were 159.3% of the prior-year period, and selling expenses were 203.3%. No new results relating to improvements in business expense efficiency were reported. - FY2019RestatedAnnual report
「In addition to reviewing business processes, the Company will continue promoting the automation of certain operations through the use of technology. Although it will continue to invest substantially in selling expenses in fiscal 2019 to achieve growth in new business, it will closely monitor selling expense efficiency, collect, manage and analyze cost-effectiveness data, and work to maximize the effectiveness of its selling expense investments at all times.」
The Company continues its policy of improving business expense efficiency through business process reviews, automation and analysis of selling expense efficiency data. - FY2019-Q2RestatedAnnual report
「Business expenses totaled ¥2,997 million, or 130.6% of the prior-year period, due mainly to substantial investments in selling expenses, particularly advertising expenditure. Of business expenses, selling expenses totaled ¥1,721 million, or 154.3% of the prior-year period; insurance administration expenses totaled ¥367 million, or 112.2%; and systems and other expenses totaled ¥908 million, or 106.6%.」
Substantial investment in selling expenses, particularly advertising expenditure, continued. Business expenses were 130.6% of the prior-year period, and selling expenses were 154.3%. This filing does not show any specific results from efficiency improvements. - FY2018RestatedAnnual report
「In fiscal 2018, the Company planned to conduct vigorous sales activities, primarily advertising, to achieve further growth in new business. In its direct Internet sales channel, it aimed to improve the efficiency of new-business acquisition by optimizing investment in advertising expenditure, including television commercials and online advertising, and securing efficient new sources of customer traffic apart from television commercials.」
The Company continues its policy of improving business expense efficiency by investing substantially in selling expenses, including advertising expenditure, while optimizing advertising, developing new sources of customer traffic, utilizing agents and reviewing business processes. - FY2018-Q3RestatedAnnual report
「Business expenses totaled ¥3,484 million, or 128.4% of the prior-year period, due mainly to substantial investments in selling expenses, particularly advertising expenditure. Of business expenses, selling expenses totaled ¥1,741 million, or 159.6% of the prior-year period; insurance administration expenses totaled ¥509 million, or 119.3%; and systems and other expenses totaled ¥1,232 million, or 103.1%.」
During the cumulative third quarter, substantial investment in selling expenses, particularly advertising expenditure, continued. Business expenses were 128.4% of the prior-year period, and selling expenses were 159.6%. No new results relating to improvements in business expense efficiency were reported. - FY2018-Q2RestatedAnnual report
「Business expenses totaled ¥2,295 million, or 133.7% of the prior-year period, due mainly to substantial investments in selling expenses, particularly advertising expenditure. Of business expenses, selling expenses totaled ¥1,115 million, or 168.5% of the prior-year period; insurance administration expenses totaled ¥327 million, or 119.6%; and systems and other expenses totaled ¥852 million, or 109.1%.」
Substantial investment in selling expenses, particularly advertising expenditure, continued. Business expenses for the interim period were 133.7% of the prior-year period, and selling expenses were 168.5%. No new results relating to improvements in business expense efficiency were reported. - FY2017First statedAnnual report
「In fiscal 2017, the Company planned to continue making substantial investments in selling expenses, as it had in fiscal 2016, to achieve further growth in new business. At the same time, it aimed to achieve a return to ordinary profitability, one of the medium-term plan's management targets, by improving business expense efficiency.」
The Company newly outlines measures to improve the efficiency of advertising expenditure, utilize agents, manage costs company-wide and improve productivity while making substantial investments in selling expenses.