Worth reading
69In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Mixed performance
Direction inferred from the company’s description.Scale
20.1
Year-on-year change (revenue, %)Wording
Conditional
How definitive the wording is.Contents of this document
Financial Results PresentationSecond quarter of the fiscal year ending March 202713 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales11,689 Millions of yen+20.1%
Operating profit1,748 Millions of yen-1.3%
Ordinary income1,734 Millions of yen-0.4%
Net income1,091 Millions of yen-7.1%
Operating profit margin15 %
Full-year earnings forecast
Profit attributable to owners of the parent
2,522 Millions of yen
Annual Dividend
60 Yen
Residential rent guarantee revenue
13,926 Millions of yen
Commercial rent guarantee revenue
5,089 Millions of yen
Medical expense guarantee revenue
246 Millions of yen
あすみらい sales
740 Millions of yen
K-net sales
1,730 Millions of yen
エイビス operating profit
165 Millions of yen
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Both revenue and profit exceeded plan. The subrogation payment incidence rate and collection rate were in line with plan.Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
- Strategic Investment160 Millions of yen
- Expansion into new operating areas, stronger sales activities in the Tokyo metropolitan area, and K-net's contribution to revenue
New initiatives
- Establish 3 locations in the second half and expand to a presence in all 47 prefectures
- Launch of a security deposit guarantee service planned for December 2026
- Advancing AI transformation through a business partnership with Second Sight Analytics
- Within 2 years, reduce workload by approximately one-third of core operations, equivalent to approximately 100,000 hours
- Full-scale implementation of AI-based performance analysis and profitability forecasting by business partner is planned for December
- Elderly care AI platform business through collaboration with Tsunagari AI and Fine
Key KPIsA metric the company considers important as a management benchmark.
- Number of agreements with real estate companies32,000 DealsYear on year against the same period last year+9.2%
- Number of new applications148,000 DealsYear on year against the same period last year+5.0%
- Average contracted rent for residential properties74,721 YenYear on year against the same period last year+3.9%
- Average contracted rent for commercial properties191,396 YenYear on year against the same period last year+6.9%
- Subrogation payment incidence rate6.7 %Year on year against the same period last year+0.2%
- Subrogation payment recovery rate96.8 %Year on year against the same period last year-0.6%
- Outstanding subrogation payment advances9,671 Millions of yenYear on year against the same period last year+23.0%
Unit price and quantity metricsThese figures show sales broken down by price and volume.
- Number of new applications148,000 DealsYear on year against the same period last year+5.0%
- Average contracted rent for residential properties74,721 YenYear on year against the same period last year+3.9%
- Average contracted rent for commercial properties191,396 YenYear on year against the same period last year+6.9%
Segment results
Residential rent guarantee
Net Sales
5,963 Millions of yen+16.8%
Commercial rent guarantee
Net Sales
2,501 Millions of yen+16.7%
Medical expense guarantee
Net Sales
113 Millions of yen+31.9%
Number of newly adopting medical institutions
26 Hospitals
あすみらい
Net Sales
235 Millions of yen-1.5%
Operating profit
-4 Millions of yen
K-net
Net Sales
802 Millions of yen
Operating profit
41 Millions of yen
エイビス
Net Sales
672 Millions of yen+0.1%
Operating profit
2 Millions of yen-94.5%
Medium-term management plan targets
ROETo be maintained at 25–35% over the medium term
Financial targets
ROE target25～35%
Actual ROE37.1% (fiscal year ended March 2026)
Cost of shareholders’ equityApproximately 10%
Market Size / Share
- Commercial rent guarantee marketCurrent market size420
- Commercial rent guarantee marketFuture market size1,200
Number of stores and locations
Number of Stores at Period-End47 stores
Store openings during the period5 stores
Unit_openingsStore equivalent
Number of prefectures with locations at period-end44 stores
Second-half forecast3 locations to be established, with a nationwide presence in all 47 prefectures planned
Number of employees
Number of Employees482 people
Year-on-year change31 people
Annual Dividend
60 Yen
Interim30
End of period30
Payout ratio
40 Approximately %
| Item | Details |
|---|---|
| Document type | Financial Results Presentation |
| Fiscal Period Covered | Second quarter of the fiscal year ending March 2027 |
| Net Sales | 11,689 Millions of yen (YoY +20.1%) |
| Operating profit | 1,748 Millions of yen (YoY -1.3%) |
| Ordinary income | 1,734 Millions of yen (YoY -0.4%) |
| Net income | 1,091 Millions of yen (YoY -7.1%) |
| Operating profit margin | 15 % |
| Full-year earnings forecast | Profit attributable to owners of the parent 2,522 Millions of yen / Annual Dividend 60 Yen / Residential rent guarantee revenue 13,926 Millions of yen / Commercial rent guarantee revenue 5,089 Millions of yen / Medical expense guarantee revenue 246 Millions of yen / あすみらい sales 740 Millions of yen / K-net sales 1,730 Millions of yen / エイビス operating profit 165 Millions of yen |
| Self-assessment against the plan | Both revenue and profit exceeded plan. The subrogation payment incidence rate and collection rate were in line with plan. |
| Segment results | Residential rent guarantee Net Sales 5,963 Millions of yen (YoY +16.8%) / Commercial rent guarantee Net Sales 2,501 Millions of yen (YoY +16.7%) / Medical expense guarantee Net Sales 113 Millions of yen (YoY +31.9%) / Number of newly adopting medical institutions 26 Hospitals / あすみらい Net Sales 235 Millions of yen (YoY -1.5%) / Operating profit -4 Millions of yen / K-net Net Sales 802 Millions of yen / Operating profit 41 Millions of yen / エイビス Net Sales 672 Millions of yen (YoY +0.1%) / Operating profit 2 Millions of yen (YoY -94.5%) |
| Breakdown of Factors Affecting the Change | Factors Strategic Investment / Amount 160 Millions of yen, Factors Expansion into new operating areas, stronger sales activities in the Tokyo metropolitan area, and K-net's contribution to revenue / Amount Not disclosed |
| Key KPIs | Indicator name Number of agreements with real estate companies / Value 32,000 Deals / Year on year against the same period last year 9.2 Deals, Indicator name Number of new applications / Value 148,000 Deals / Year on year against the same period last year 5 Deals, Indicator name Average contracted rent for residential properties / Value 74,721 Yen / Year on year against the same period last year 3.9 Yen, Indicator name Average contracted rent for commercial properties / Value 191,396 Yen / Year on year against the same period last year 6.9 Yen, Indicator name Subrogation payment incidence rate / Value 6.7 % / Year on year against the same period last year 0.2 %, Indicator name Subrogation payment recovery rate / Value 96.8 % / Year on year against the same period last year -0.6 %, Indicator name Outstanding subrogation payment advances / Value 9,671 Millions of yen / Year on year against the same period last year 23 Millions of yen |
| Unit price and quantity metrics | Indicator name Number of new applications / Value 148,000 Deals / Year on year against the same period last year 5 Deals, Indicator name Average contracted rent for residential properties / Value 74,721 Yen / Year on year against the same period last year 3.9 Yen, Indicator name Average contracted rent for commercial properties / Value 191,396 Yen / Year on year against the same period last year 6.9 Yen |
| Number of stores and locations | Number of Stores at Period-End 47 stores / Store openings during the period 5 stores / Unit_openings Store equivalent / Number of prefectures with locations at period-end 44 stores / Second-half forecast 3 locations to be established, with a nationwide presence in all 47 prefectures planned |
| Number of employees | Number of Employees 482 people / Year-on-year change 31 people |
| Medium-term management plan targets | ROE To be maintained at 25–35% over the medium term |
| Financial targets | ROE target 25～35% / Actual ROE 37.1% (fiscal year ended March 2026) / Cost of shareholders’ equity Approximately 10% |
| Annual Dividend | 60 Yen |
| Payout ratio | 40 Approximately % |
| Market Size / Share | Market Commercial rent guarantee market / Current market size ¥420 100 million, Market Commercial rent guarantee market / Future market size ¥1,200 100 million |
| New initiatives | Establish 3 locations in the second half and expand to a presence in all 47 prefectures, Launch of a security deposit guarantee service planned for December 2026, Advancing AI transformation through a business partnership with Second Sight Analytics, Within 2 years, reduce workload by approximately one-third of core operations, equivalent to approximately 100,000 hours, Full-scale implementation of AI-based performance analysis and profitability forecasting by business partner is planned for December, Elderly care AI platform business through collaboration with Tsunagari AI and Fine |
Items this document does not state (10)
Gross Profit MarginSelling, general and administrative expensesResults for the three months of the current quarterProgress against full-year forecastAssumptions Underlying the Business OutlookRisk 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.Revenue increased due to expansion into new operating areas, stronger sales activities in the Tokyo metropolitan area, strong performance in the core residential and commercial rent guarantee business, and the contribution of K-net's sales after it became a subsidiary in the previous fiscal year. Operating profit increased with higher revenue and cost controls, which absorbed strategic investments, but declined slightly year on year.
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