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Ai Partners Financial (7345) · RiskRestated

Impact of New Regulations on IFA Contract Structures

First written in FY2021. 3 of 4 entries say "Restated". Latest entry: FY2026.

4entries
6years
0from disclosures
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How it moved
ProgressHeldSoftenedWorseRestatedFY2021 – FY20262021: 120212022: 020222023: 120232024: 020242025: 120252026: 12026
Same theme, other companies
Regulatory compliance for financial services, including cards, banking, securities and insuranceA theme 34 companies write about · 38 as a headwind · 0 as a tailwind

The whole theme swung hardest in 2025: 2 of 10 companies on the "Worse" side.

24 other companies' latest entry also says "Restated".

Ridges = years it wrote progress, valleys = years it wrote worse. Most hopeful companies at the back. Drag to turn, scroll to zoom, right-drag to pan. On a phone, two fingers turn and pinch to zoom; one finger scrolls the page.
Showing 14 of the 34 companies compared. The sentences above are computed from all 34.
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  1. FY2026RestatedAnnual report

    「If amendments to laws or regulations require the employment of registered sales representatives, or if an IFA is deemed a "worker" rather than an independent sole proprietor, it may become difficult to continue the business under the current contract structure. Because changing the contract structure with IFAs would constitute a change affecting the foundation of the Group's business model, it may affect the Group's financial position and operating results.」

    The Group continues to identify regulatory risk to its business model, which is based on IFAs operating as sole proprietors under service agreements.
  2. FY2025RestatedAnnual report

    「If amendments to laws or regulations require the employment of registered sales representatives, or if an IFA is deemed a "worker" rather than an independent sole proprietor, it may become difficult to continue the business under the current contract structure. Because changing the contract structure with IFAs would constitute a change affecting the foundation of the Group's business model, it may affect the Group's financial position and operating results.」

    The Group continues to identify regulatory risk to its business model, which is based on IFAs operating as sole proprietors under service agreements.
  3. FY2023RestatedAnnual report

    「If amendments to laws or regulations require the employment of registered sales representatives, or if an IFA is deemed a "worker" rather than an independent sole proprietor, it may become difficult to continue the business under the current contract structure.」

    The Group continues to identify regulatory risk to its business model, which is based on IFAs operating as sole proprietors under service agreements.
  4. FY2021First statedAnnual report

    「If amendments to laws or regulations require the employment of registered sales representatives, or if an IFA is deemed a "worker" rather than an independent sole proprietor, it may become difficult to continue the business under the current contract structure.」

    Risk concerning the legal basis of the IFA model, which is based on service agreements.
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Impact of New Regulations on IFA Contract Structures | Ai Partners Financial Inc. (7345) | Komori