Worth reading
77Important
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
1314
¥ million (year-on-year change in net sales)Wording
Conditional
How definitive the wording is.Contents of this document
Presentation materials for financial resultsThird quarter of the fiscal year ending June 202610 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥8,100 million+19.4%
Operating profit¥531 million+6.2%
Ordinary income¥538 million+6.0%
Net income¥288 million-3.1%
Selling, general and administrative expenses¥5,637 million
Gross Profit Margin76.1% (no year-on-year change disclosed)
Operating profit margin6.6% (7.4% in the year-earlier period, down 0.8 percentage points)
Results for the three months of the current quarterNet sales of ¥1,493 million, operating profit of ¥379 million, and an operating margin of 7.3%. Quarterly net sales increased 22.2% year on year to a record high.
Full-year earnings forecast
Net Sales
¥11,288 million
Gross profit
¥8,592 million
Selling, general and administrative expenses
¥7,747 million
Operating profit
¥844 million
Ordinary income
¥848 million
Profit attributable to owners of the parent
¥507 million
EBITDA
¥1,230 million
Progress against full-year forecast 通期の予想に対して、いまどこまで進んだかの割合です。
Net Sales71.8%
Gross profit71.8%
Selling, general and administrative expenses72.8%
Operating profit62.9%
Ordinary income63.5%
Profit attributable to owners of the parent57.0%
EBITDA65.6%
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
The factors behind the change in operating profit from ¥500 million to ¥531 million were listed as follows: an increase of ¥709 million in net sales from the Insurance Clinic business; new-store operating expenses of ▲¥400 million; a burden of ▲¥101 million, including amortization of goodwill and other items; an increase in marketing expenses of ▲¥154 million; other factors of ▲¥53 million; an increase of ¥361 million in net sales from the FA business; an increase in operating expenses of ▲¥278 million; an increase of ¥39 million in flow revenue in the Solutions business; a decrease of ▲¥11 million in recurring revenue; an increase in operating expenses of ▲¥112 million; an increase of ¥291 million in recurring revenue in the Systems business; a decrease of ▲¥30 million in flow revenue; an increase in operating expenses of ▲¥228 million; and other factors of ▲¥30 million.
New initiatives
- Business segments were revised from the fiscal year ending June 2026, with the Insurance Clinic franchise business consolidated into the Insurance Clinic business.
- The Solutions business was made an independent segment, with a focus on expanding AS platform and developing new AS series products.
- In April 2026, the company began offering 書審AI, an AI agent for document screening.
- Interim dividends will be paid from the current fiscal year.
Key KPIsA metric the company considers important as a management benchmark.
- Store visits (cumulative through Q3)29,443 EngagementsYear on year against the same period last year22,692 visits in the year-earlier period
- Closing Rate57.6 %Year on year against the same period last year62.2% in the previous fiscal year
- Completed contracts (cumulative through Q3)16,678 EngagementsYear on year against the same period last year14,184 contracts in the year-earlier period
- Registered franchisees106 companiesYear on year against the same period last yearDown 1 company from the previous fiscal year-end
- Number of insurance solicitors196 peopleYear on year against the same period last year183 people in Q3 of the year-earlier period
- Recurring revenue ratio (Solutions business)78.7 %Year on year against the same period last year73.8% in the previous fiscal year
- IDs for agencies and banks7,124 IDYear on year against the same period last yearUp 51 IDs from the previous fiscal year-end
- MRR from insurance companies¥36,146 thousandYear on year against the same period last yearDown ¥258 thousand from the previous fiscal year-end
- Recurring revenue ratio (Systems business)82 %Year on year against the same period last year74% in the fiscal year ended June 2025
Segment results
Hoken Clinic business
Net Sales¥4,239 million (up 20.1% year on year)
Operating profit¥645 million (up 9.0% year on year)
Company-operated stores
Net Sales¥3,559 million (up 23.3% year on year)
Operating profit¥529 million (up 14.0% year on year)
FC
Net Sales¥679 million (up 6.0% year on year)
Operating profit¥115 million (down 9.0% year on year)
FA Business
Net Sales¥1,664 million (up 27.8% year on year)
Operating profit¥54 million (a ¥28 million operating loss in the year-earlier period)
Solutions Business
Net Sales¥1,034 million (up 2.8% year on year)
Operating profit¥253 million (down 25.1% year on year)
Systems Business
Net Sales¥1,510 million (up 18.7% year on year)
Operating profit¥140 million (up 7.4% year on year)
Medium-term management plan targets
Targets for the fiscal year ending June 2028 are net sales of ¥15,205 million, operating profit of ¥1,578 million, an operating margin of 10.4%, and ROE of 20.0%. The company aims to have 500 Insurance Clinic stores by the fiscal year ending June 2031.Financial targets
ROE of at least 20.0% for the fiscal year ending June 2028 (20.0% as stated in the presentation). The forecast ROE is 12.4% for the fiscal year ending June 2026 and 16.8% for the fiscal year ending June 2027.Market Size / Share
There are approximately 3,000 insurance shops nationwide where customers visit in person. Insurance Clinic has 306 stores, placing it at approximately third in the industry. Six brands with 100 or more stores account for approximately 60% of the total market.Number of stores and locations
306 stores as of 31 March 2026 (106 directly operated and 200 franchised). From 30 June 2025, 22 stores were added and 3 were closed, for a net increase of 23 stores.Annual Dividend
Forecast annual dividend of ¥32 for the fiscal year ending June 2026 (¥16 interim and ¥16 year-end). Interim dividends will be paid from the current fiscal year.Payout ratio
Consolidated dividend payout ratio of at least 50% as a guideline (previously targeted at approximately the 30% range)| Item | Details |
|---|---|
| Document type | Presentation materials for financial results |
| Fiscal Period Covered | Third quarter of the fiscal year ending June 2026 |
| Net Sales | ¥8,100 million (YoY +19.4%) |
| Operating profit | ¥531 million (YoY +6.2%) |
| Ordinary income | ¥538 million (YoY +6.0%) |
| Net income | ¥288 million (YoY -3.1%) |
| Gross Profit Margin | 76.1% (no year-on-year change disclosed) |
| Operating profit margin | 6.6% (7.4% in the year-earlier period, down 0.8 percentage points) |
| Selling, general and administrative expenses | ¥5,637 million |
| Results for the three months of the current quarter | Net sales of ¥1,493 million, operating profit of ¥379 million, and an operating margin of 7.3%. Quarterly net sales increased 22.2% year on year to a record high. |
| Full-year earnings forecast | Net Sales ¥11,288 million / Gross profit ¥8,592 million / Selling, general and administrative expenses ¥7,747 million / Operating profit ¥844 million / Ordinary income ¥848 million / Profit attributable to owners of the parent ¥507 million / EBITDA ¥1,230 million |
| Progress against full-year forecast | Net Sales 71.8% / Gross profit 71.8% / Selling, general and administrative expenses 72.8% / Operating profit 62.9% / Ordinary income 63.5% / Profit attributable to owners of the parent 57.0% / EBITDA 65.6% |
| Segment results | Hoken Clinic business Net Sales ¥4,239 million (up 20.1% year on year) / Operating profit ¥645 million (up 9.0% year on year) / Company-operated stores Net Sales ¥3,559 million (up 23.3% year on year) / Operating profit ¥529 million (up 14.0% year on year) / FC Net Sales ¥679 million (up 6.0% year on year) / Operating profit ¥115 million (down 9.0% year on year) / FA Business Net Sales ¥1,664 million (up 27.8% year on year) / Operating profit ¥54 million (a ¥28 million operating loss in the year-earlier period) / Solutions Business Net Sales ¥1,034 million (up 2.8% year on year) / Operating profit ¥253 million (down 25.1% year on year) / Systems Business Net Sales ¥1,510 million (up 18.7% year on year) / Operating profit ¥140 million (up 7.4% year on year) |
| Breakdown of Factors Affecting the Change | The factors behind the change in operating profit from ¥500 million to ¥531 million were listed as follows: an increase of ¥709 million in net sales from the Insurance Clinic business; new-store operating expenses of ▲¥400 million; a burden of ▲¥101 million, including amortization of goodwill and other items; an increase in marketing expenses of ▲¥154 million; other factors of ▲¥53 million; an increase of ¥361 million in net sales from the FA business; an increase in operating expenses of ▲¥278 million; an increase of ¥39 million in flow revenue in the Solutions business; a decrease of ▲¥11 million in recurring revenue; an increase in operating expenses of ▲¥112 million; an increase of ¥291 million in recurring revenue in the Systems business; a decrease of ▲¥30 million in flow revenue; an increase in operating expenses of ▲¥228 million; and other factors of ▲¥30 million. |
| Key KPIs | Indicator name Store visits (cumulative through Q3) / Value 29,443 Engagements / Year on year against the same period last year 22,692 visits in the year-earlier period, Indicator name Closing Rate / Value 57.6 % / Year on year against the same period last year 62.2% in the previous fiscal year, Indicator name Completed contracts (cumulative through Q3) / Value 16,678 Engagements / Year on year against the same period last year 14,184 contracts in the year-earlier period, Indicator name Registered franchisees / Value 106 companies / Year on year against the same period last year Down 1 company from the previous fiscal year-end, Indicator name Number of insurance solicitors / Value 196 people / Year on year against the same period last year 183 people in Q3 of the year-earlier period, Indicator name Recurring revenue ratio (Solutions business) / Value 78.7 % / Year on year against the same period last year 73.8% in the previous fiscal year, Indicator name IDs for agencies and banks / Value 7,124 ID / Year on year against the same period last year Up 51 IDs from the previous fiscal year-end, Indicator name MRR from insurance companies / Value ¥36,146 thousand / Year on year against the same period last year Down ¥258 thousand from the previous fiscal year-end, Indicator name Recurring revenue ratio (Systems business) / Value 82 % / Year on year against the same period last year 74% in the fiscal year ended June 2025 |
| Number of stores and locations | 306 stores as of 31 March 2026 (106 directly operated and 200 franchised). From 30 June 2025, 22 stores were added and 3 were closed, for a net increase of 23 stores. |
| Medium-term management plan targets | Targets for the fiscal year ending June 2028 are net sales of ¥15,205 million, operating profit of ¥1,578 million, an operating margin of 10.4%, and ROE of 20.0%. The company aims to have 500 Insurance Clinic stores by the fiscal year ending June 2031. |
| Financial targets | ROE of at least 20.0% for the fiscal year ending June 2028 (20.0% as stated in the presentation). The forecast ROE is 12.4% for the fiscal year ending June 2026 and 16.8% for the fiscal year ending June 2027. |
| Annual Dividend | Forecast annual dividend of ¥32 for the fiscal year ending June 2026 (¥16 interim and ¥16 year-end). Interim dividends will be paid from the current fiscal year. |
| Payout ratio | Consolidated dividend payout ratio of at least 50% as a guideline (previously targeted at approximately the 30% range) |
| Market Size / Share | There are approximately 3,000 insurance shops nationwide where customers visit in person. Insurance Clinic has 306 stores, placing it at approximately third in the industry. Six brands with 100 or more stores account for approximately 60% of the total market. |
| New initiatives | Business segments were revised from the fiscal year ending June 2026, with the Insurance Clinic franchise business consolidated into the Insurance Clinic business., The Solutions business was made an independent segment, with a focus on expanding AS platform and developing new AS series products., In April 2026, the company began offering 書審AI, an AI agent for document screening., Interim dividends will be paid from the current fiscal year. |
Items this document does not state (9)
Self-assessment against the planUnit price and quantity metricsNumber of employeesAssumptions 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.The Insurance Clinic business benefited from an increase in store visits and completed contracts driven by web-based customer acquisition, an increase in the number of stores, and the effects of business acquisitions. The FA business performed well as a result of measures including new recruitment initiatives and became profitable. In the Solutions business, upfront investment to comply with amendments to the Insurance Business Act and to develop systems for the non-life insurance sector, along with higher selling expenses, weighed on profit.
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