Worth reading
82Important
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Improvement
Direction inferred from the company’s description.Scale
24.9
Year-on-year revenue growth (%)Wording
Conditional
How definitive the wording is.Contents of this document
Presentation materials for financial resultsFiscal year ending March 202614 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥21,574 million+24.9%
Operating profit¥3,624 million+16.8%
Ordinary income¥3,590 million+15.9%
Net income¥2,470 million+18.3%
Operating profit margin16.8 %
Selling, general and administrative expensesApproximately 300year-on-year increase
Results for the three months of the current quarterQuarterly revenue for the core businesses is provided. Residential rent guarantee revenue was ¥3,754 million in 4Q of the fiscal year ending March 2026, and commercial rent guarantee revenue was ¥1,170 million in 4Q. Standalone quarterly figures for consolidated profit and loss were not disclosed.
Full-year earnings forecast
Net Sales
¥24,859 million
Operating profit
¥3,856 million
Operating profit margin
15.5 %
Residential rent guarantee revenue
¥13,900 million
Commercial rent guarantee revenue
¥5,000 million
Medical expense guarantee revenue
¥246 million
Guarantee-related business revenue
¥22,394 million
Guarantee-related business operating profit
¥3,909 million
Real estate-related business revenue
¥740 million
Operating income from the real estate-related business
¥45 million
IT-related business revenue
¥1,730 million
IT-related business operating profit
¥165 million
Other sales
¥476 million
Other operating profit
¥25 million
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Revenue, profit and profit margins have all exceeded the company’s forecasts.Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Strong performance in the residential and commercial rent guarantee businesses, K-net’s contribution to revenue, and increases in credit-loss-related expenses, administrative fees and goodwill amortization
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Subrogation payment incidence rate
6.7 %
Subrogation payment recovery rate
96.8 %
Medium-term outlook for incidence rate
7 Approximately %
Medium-term outlook for recovery rate
96 % range
New initiatives
- Establishment of the Process Planning Department to lead AI transformation
- Development of a new core system
- Expansion of the Tokyo head office
- Introduction of a new personnel system
- Joint expansion of the all-in-one guarantee service with K-net
- Expansion of HOMETACT
- Opening 6 new locations in the fiscal year ending March 2027
Key KPIsA metric the company considers important as a management benchmark.
- Number of agreements with real estate companies31 thousand casesYear on year against the same period last year+9.2%
- Number of new applications321 thousand casesYear on year against the same period last year+8.6%
- Average contracted rent for residential properties¥72,782Year on year against the same period last year+4.5%
- Average contracted rent for commercial properties¥184,210Year on year against the same period last year+9.6%
- Subrogation payment incidence rate6.5 %Year-on-year change0.2
- Subrogation payment recovery rate97.4 %Year-on-year change0
- Outstanding subrogation payment advances¥8,562 millionYear on year against the same period last year+19.3%
Unit price and quantity metricsThese figures show sales broken down by price and volume.
- Number of new applications321 thousand casesYear on year against the same period last year+8.6%
- Average contracted rent for residential properties¥72,782Year on year against the same period last year+4.5%
- Average contracted rent for commercial properties¥184,210Year on year against the same period last year+9.6%
Segment results
- Residential rent guaranteeSales¥11,996 millionYear on year against the same period last year+29.1%
- Commercial rent guaranteeSales¥4,525 millionYear on year against the same period last year+22.8%
- K-netSales¥1,378 millionOperating profit¥46 million
- エイビス (IT-related business)Sales¥1,526 millionOperating profit¥194 millionYear-on-year revenue comparison-17.4Year-on-year operating profit growth56.4
- Medical expense guaranteeSales¥189 millionYear on year against the same period last year+26.8%
- あすみらい (real estate-related business)Sales¥690 millionOperating profit¥11 million
Medium-term management plan targets
Net Sales
¥21,170 million
Operating profit
¥3,465 million
Target fiscal yearThree-year management plan (announced in May 2024)
Comparison with actual resultsAchieved one year ahead of schedule
Financial targets
Equity ratio
Target50% or higher
Actual results33.4 %
ROE
TargetApproximately 20–35%
Actual results37.1 %
Market Size / Share
- Residential rent guaranteeMarket usage rate for guarantee companiesFiscal year ending March 2026 77 %Market revenue size2,360 Hundreds of millions of yen
- Commercial rent guaranteeMarket usage rate for guarantee companiesFiscal year ending March 2026 25 %Market revenue size385 Hundreds of millions of yenEstimated future market size1,200 Hundreds of millions of yen
Number of stores and locations
Number of Stores at Period-End
44 stores
Stores opened during the period4
Number of prefectures with locations at period-end41
Number of prefectures entered during the period4
Number of employees
451 People
Change during the period14
Annual Dividend
Fiscal year ending March 2026
¥55
Interim25
End of period30
Forecast for the fiscal year ending March 2027
¥60
Interim30
End of period30
Payout ratio
40 Approximately %
| Item | Details |
|---|---|
| Document type | Presentation materials for financial results |
| Fiscal Period Covered | Fiscal year ending March 2026 |
| Net Sales | ¥21,574 million (YoY +24.9%) |
| Operating profit | ¥3,624 million (YoY +16.8%) |
| Ordinary income | ¥3,590 million (YoY +15.9%) |
| Net income | ¥2,470 million (YoY +18.3%) |
| Operating profit margin | 16.8 % |
| Selling, general and administrative expenses | Approximately 300 |
| Results for the three months of the current quarter | Quarterly revenue for the core businesses is provided. Residential rent guarantee revenue was ¥3,754 million in 4Q of the fiscal year ending March 2026, and commercial rent guarantee revenue was ¥1,170 million in 4Q. Standalone quarterly figures for consolidated profit and loss were not disclosed. |
| Full-year earnings forecast | Net Sales ¥24,859 million / Operating profit ¥3,856 million / Operating profit margin 15.5 % / Residential rent guarantee revenue ¥13,900 million / Commercial rent guarantee revenue ¥5,000 million / Medical expense guarantee revenue ¥246 million / Guarantee-related business revenue ¥22,394 million / Guarantee-related business operating profit ¥3,909 million / Real estate-related business revenue ¥740 million / Operating income from the real estate-related business ¥45 million / IT-related business revenue ¥1,730 million / IT-related business operating profit ¥165 million / Other sales ¥476 million / Other operating profit ¥25 million |
| Self-assessment against the plan | Revenue, profit and profit margins have all exceeded the company’s forecasts. |
| Segment results | Segment Residential rent guarantee / Sales ¥11,996 million / Year on year against the same period last year 29.1, Segment Commercial rent guarantee / Sales ¥4,525 million / Year on year against the same period last year 22.8, Segment K-net / Sales ¥1,378 million / Operating profit ¥46 million, Segment エイビス (IT-related business) / Sales ¥1,526 million / Operating profit ¥194 million / Year-on-year revenue comparison -17.4 / Year-on-year operating profit growth 56.4, Segment Medical expense guarantee / Sales ¥189 million / Year on year against the same period last year 26.8, Segment あすみらい (real estate-related business) / Sales ¥690 million / Operating profit ¥11 million |
| Breakdown of Factors Affecting the Change | Strong performance in the residential and commercial rent guarantee businesses, K-net’s contribution to revenue, and increases in credit-loss-related expenses, administrative fees and goodwill amortization |
| Key KPIs | Number of agreements with real estate companies 31 thousand cases, Number of new applications 321 thousand cases, Average contracted rent for residential properties ¥72,782, Average contracted rent for commercial properties ¥184,210, Subrogation payment incidence rate 6.5 %, Subrogation payment recovery rate 97.4 %, Outstanding subrogation payment advances ¥8,562 million |
| Unit price and quantity metrics | Number of new applications 321 thousand cases, Average contracted rent for residential properties ¥72,782, Average contracted rent for commercial properties ¥184,210 |
| Number of stores and locations | Number of Stores at Period-End 44 stores / Stores opened during the period 4 / Number of prefectures with locations at period-end 41 / Number of prefectures entered during the period 4 |
| Number of employees | 451 People |
| Assumptions Underlying the Business Outlook | Subrogation payment incidence rate 6.7 % / Subrogation payment recovery rate 96.8 % / Medium-term outlook for incidence rate 7 Approximately % / Medium-term outlook for recovery rate 96 % range |
| Medium-term management plan targets | Net Sales ¥21,170 million / Operating profit ¥3,465 million / Target fiscal year Three-year management plan (announced in May 2024) / Comparison with actual results Achieved one year ahead of schedule |
| Financial targets | Equity ratio Target 50% or higher / Actual results 33.4 % / ROE Target Approximately 20–35% / Actual results 37.1 % |
| Annual Dividend | Fiscal year ending March 2026 ¥55 / Forecast for the fiscal year ending March 2027 ¥60 |
| Payout ratio | 40 Approximately % |
| Market Size / Share | Market Residential rent guarantee / Market usage rate for guarantee companies Fiscal year ending March 2026 77 % / Market revenue size 2,360 Hundreds of millions of yen, Market Commercial rent guarantee / Market usage rate for guarantee companies Fiscal year ending March 2026 25 % / Market revenue size 385 Hundreds of millions of yen / Estimated future market size 1,200 Hundreds of millions of yen |
| New initiatives | Establishment of the Process Planning Department to lead AI transformation, Development of a new core system, Expansion of the Tokyo head office, Introduction of a new personnel system, Joint expansion of the all-in-one guarantee service with K-net, Expansion of HOMETACT, Opening 6 new locations in the fiscal year ending March 2027 |
Items this document does not state (7)
Gross Profit MarginProgress against full-year forecastRisk amount incorporated into the outlookAcquisition of treasury sharesCapital expendituresOrders received and order backlogKey points of the Q&A
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.The residential and commercial rent guarantee businesses performed strongly, and revenue from K-net, which became a subsidiary in April 2025, also contributed. The increase in credit-loss-related expenses accompanying the growth in contract volume, administrative fees due to intensifying competition, and amortization of goodwill related to M&A were absorbed by revenue growth.
How to read this page
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