Concentration Risk in Commission Income from Life Insurance Companies and Certain Insurers
First written in FY2021. 6 of 17 entries say "Restated". Latest entry: 2026-06-30.
Broad-Minded moved to the "Worse" side of this theme in 2025.
0 other companies' latest entry also says "Restated".
- 2026-06-30RestatedManagement planning
「In the most recent 2 fiscal years, FY2025/03 and FY2026/03, agency commissions related to life insurance contracts accounted for 62.3% and 71.6%, respectively, of our group revenue.」
Reconfirmed the risk of revenue concentration in life insurance agency commissions, citing the specific percentages for the most recent 2 fiscal years. - FY2026WorsenedAnnual report
「Over the latest 2 fiscal years, the agency commissions related to life insurance contracts accounted for 62.3% and 71.6%, respectively, of the Group's revenue in the fiscal years ending March 2025 and March 2026. In particular, commissions from MetLife Insurance Co., Ltd. accounted for 28.1% of the Group's revenue in the fiscal year ended March 2025 and 34.7% in the fiscal year ending March 2026.」
The overall share of revenue from life insurance agency commissions rose from 62.3% to 71.6%, while MetLife Insurance's share rose from 28.1% to 34.7%, resulting in greater revenue concentration. - FY2026-H1WorsenedAnnual report
「Life insurance agency business 1,892,267 － Non-life insurance agency business 98,887 － Financial product brokerage business 111,359 － Mortgage agency business 9,953 － Real estate sales business 15,797 － Other 235,980 33,422 Revenue from contracts with customers 2,364,245 33,422」
Revenue from the life insurance agency business totaled ¥1,892.267 million, representing approximately 78.9% of revenue. This was up from approximately 69.0% in the same period of the previous year, indicating greater concentration in life insurance revenue. - FY2025Greater reliance on life insurance overall and lower reliance on a specific companyAnnual report
「Over the latest 2 fiscal years, the agency commissions related to life insurance contracts accounted for 60.2% and 62.9%, respectively, of the Group's revenue in the fiscal years ended March 2024 and March 2025. In particular, commissions from MetLife Insurance Co., Ltd. accounted for 40.3% of the Group's revenue in the fiscal year ended March 2024 and 31.5% in the fiscal year ended March 2025.」
The overall share of revenue from life insurance agency commissions rose from 60.2% to 62.9%, while MetLife Insurance's share declined from 40.3% to 31.5%. - FY2025-H1MitigatedAnnual report
「Life insurance agency business 1,465,613 370,962 Non-life insurance agency business 16,137 72,692 Financial product brokerage business 101,857 － Mortgage agency business 26,695 － Real estate sales business 318,629 － Other 271,798 10,890 Revenue from contracts with customers 2,200,732 454,545」
Revenue from the life insurance agency business was ¥1,836.575 million, representing approximately 69.2% of revenue from contracts with customers of ¥2,655.278 million. Although this was down from approximately 71.5% in the same period of the previous year, it still accounted for the majority of revenue. - FY2024-Q3Increase in the life insurance revenue ratioAnnual report
「Life insurance agency business 1,908,121 475,904 Non-life insurance agency business 20,231 102,975 Financial product brokerage business 118,436 － Mortgage agency business 23,221 － Real estate sales business 212,983 － Other 365,952 12,103 Revenue from contracts with customers 2,648,947 590,983」
Revenue from the life insurance agency business was ¥2,384.025 million in the cumulative third quarter, and its share of revenue from contracts with customers increased from approximately 72.0% in the same period of the previous year to approximately 73.6%. The concentration in life insurance revenue remained evident. - FY2024-Q2Decline in the life insurance revenue ratioAnnual report
「Life insurance agency business 1,229,693 317,396 Non-life insurance agency business 10,897 67,651 Financial product brokerage business 85,216 － Mortgage agency business 12,094 － Real estate sales business 198,401 － Other 236,041 7,202 Revenue from contracts with customers 1,772,345 392,251」
Revenue from the life insurance agency business totaled ¥1,547.089 million in the cumulative second quarter, and its share of revenue from contracts with customers declined from approximately 78.0% in the same period of the previous year to approximately 71.5%. It nevertheless continued to account for the majority of revenue. - FY2024-Q1Decline in the life insurance revenue ratioAnnual report
「Life insurance agency commissions 644,546 158,726 Non-life insurance agency commissions 4,414 33,126 Financial product brokerage commissions 44,282 － Mortgage agency commissions 3,869 － Real estate sales revenue 21,484 － Other 117,623 2,602 Revenue from contracts with customers 836,220 194,454」
Life insurance agency commissions totaled ¥803.272 million, accounting for approximately 77.9% of revenue from contracts with customers of ¥1,030.674 million. The ratio declined from approximately 85.3% in the same period of the previous year, but commissions still accounted for the majority of revenue. - FY2023Further decline in the life insurance revenue ratioAnnual report
「For the most recent 2 fiscal years, the fiscal years ended March 2022 and March 2023, agency commissions related to life insurance contracts accounted for 76.9% and 68.5%, respectively, of our group's revenue. In particular, commissions from MetLife Insurance Company accounted for 45.0% of our group's revenue in both the fiscal year ended March 2022 and the fiscal year ended March 2023.」
The overall share of revenue from life insurance agency commissions declined to 68.5%, while MetLife Insurance's share remained flat at 45.0%. - FY2023-Q3Decline in the life insurance revenue ratioAnnual report
「Life insurance agency business 1,781,221 463,592 2,244,814 Non-life insurance agency business 76,482 101,295 177,777 Financial product brokerage business 78,400 － 78,400 Mortgage agency business 15,528 － 15,528 Real estate sales business 450,108 － 450,108 Other 150,159 1,745 151,904 Revenue from contracts with customers 2,551,900 566,632 3,118,533」
Revenue from the life insurance agency business was ¥2,244.814 million, accounting for approximately 72.0% of revenue from contracts with customers of ¥3,118.533 million. Although the ratio declined from approximately 83.9% in the same period of the previous year, it still accounted for the majority of revenue. - FY2023-Q2RestatedAnnual report
「During the six-month period ended [the current second quarter], there were no newly arising business or other risks, nor any material changes to the business and other risks described in the Annual Securities Report for the prior fiscal year.」
The company states that there have been no significant changes in business and other risks. In terms of revenue, the life insurance agency business generated ¥1,419.852 million, accounting for the majority of revenue from contracts with customers of ¥1,820.124 million. - FY2023-Q1RestatedAnnual report
「Life insurance agency commissions 579,703 150,919 Non-life insurance agency commissions 77 45,359 Financial instruments intermediary commissions 24,975 － Mortgage agency commissions 6,729 － Real estate sales revenue 5,789 － Other 42,835 － Revenue from contracts with customers 660,109 196,278」
Life insurance agency commissions totaled ¥730.622 million in the first quarter, accounting for approximately 85.3% of revenue from contracts with customers of ¥856.387 million, indicating that revenue concentration risk remains. - FY2022Change in concentrationAnnual report
「For the most recent 2 fiscal years, the fiscal years ended March 2021 and March 2022, agency commissions related to life insurance contracts accounted for 83.6% and 76.9%, respectively, of our group's revenue. In particular, commissions from MetLife Insurance Company accounted for 44.6% of our group's revenue in the fiscal year ended March 2021 and 45.0% in the fiscal year ended March 2022.」
While the overall proportion of life insurance agency commissions declined, MetLife Insurance Company's share of revenue increased from 44.6% to 45.0%. - FY2022-Q3RestatedAnnual report
「Life insurance agency business 2,034,777 Non-life insurance agency business 130,158 Financial instruments intermediary business 44,533 Mortgage agency business 22,837 Real estate sales business 87,738 Other 106,545 Revenue from contracts with customers 2,426,590」
For the cumulative third quarter, revenue from the life insurance agency business was ¥2,034.777 million, accounting for the majority of revenue from contracts with customers of ¥2,426.590 million. The company states that there have been no significant changes in business and other risks. - FY2022-Q2RestatedAnnual report
「Life insurance agency business 1,330,747 Non-life insurance agency business 85,206 Financial instruments intermediary business 29,223 Mortgage agency business 13,284 Real estate sales business 15,400 Other 66,470 Revenue from contracts with customers 1,540,332」
For the cumulative second quarter, revenue from the life insurance agency business was ¥1,330.747 million, accounting for the majority of revenue from contracts with customers of ¥1,540.332 million. The risk section states that there have been no significant changes. - FY2022-Q1RestatedAnnual report
「Life insurance agency business 709,389 Non-life insurance agency business 41,902 Financial instruments intermediary business 16,506 Mortgage agency business 7,242 Real estate sales business 8,106 Other 33,885 Revenue from contracts with customers 817,033」
Revenue from the life insurance agency business was ¥709.389 million in the first quarter, accounting for approximately 86.8% of revenue from contracts with customers of ¥817.033 million. The risk section states that there have been no significant changes in the risks described in the annual securities report for the previous fiscal year. - FY2021First statedAnnual report
「For the most recent 2 fiscal years, the fiscal years ended March 2020 and March 2021, agency commissions related to life insurance contracts accounted for 78.6% and 83.6%, respectively, of our group's revenue. In particular, commissions from MetLife Insurance Company accounted for 47.4% of our group's revenue in the fiscal year ended March 2020 and 44.6% in the fiscal year ended March 2021.」
The company recognizes as risks a decline in agency commission income resulting from changes in insurers' sales policies or commission rates, insolvency, failure to meet quality standards and other factors.