Worth reading
76Important
Scored from 5 of 6 sectionsDirection
Mixed performance
Direction inferred from the company’s description.Scale
4468
Millions of yenWording
Conditional
How definitive the wording is.Contents of this document
Financial Results PresentationSecond quarter of the fiscal year ending November 20268 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales15,599 Millions of yen-5.1%
Operating profit1,076 Millions of yen-27.1%
Ordinary income1,073 Millions of yen-27.8%
Net income703 Millions of yen-27.8%
Selling, general and administrative expenses3,901 Millions of yen
Gross Profit Margin31.9%, up 0.7 percentage points year on year (cost of sales ratio increased from 67.4% to 68.1%)
Operating profit margin6.9%, down 2.1 percentage points year on year
Results for the three months of the current quarter
Net Sales
7,983 Millions of yen
Quarter-on-quarter_pct4.8
Operating profit
675 Millions of yen
Quarter-on-quarter_pct68.8
Ordinary income
676 Millions of yen
Quarter-on-quarter_pct70
Quarterly net income
445 Millions of yen
Quarter-on-quarter_pct72.7
Full-year earnings forecast
Net Sales
31,793 Millions of yen
Operating profit
2,300 Millions of yen
Ordinary income
2,417 Millions of yen
Net income for the current fiscal year
1,617 Millions of yen
Operating profit margin
7.2 %
Annual dividend per share
¥94
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 SalesRevised 49.1% (initially 43.0%)
Operating profitRevised 46.8% (initially 32.4%)
Ordinary incomeRevised 44.4% (initially 30.9%)
Interim net incomeRevised 43.5% (initially 31.6%)
What the company explained in this material
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
An increase in demand for foreign-currency-denominated single-premium products due to exchange-rate movements, a recovery in customer acquisition through partner companies, and the time lag before revenue recognition. Numerical assumptions: Not disclosedNew initiatives
- Expansion of the Contract Transfer Business
- Acquisition of contract transfer opportunities, primarily from non-life insurance agencies
- Strengthening cross-selling from non-life to life insurance
- Strengthening locally focused hiring
- Increasing branches and locations through contract transfers
Key KPIsA metric the company considers important as a management benchmark.
- Number of sales employees2,227 PeopleYear-on-year (%)-11.7
- Number of new contracts102,026 EngagementsYear-on-year (%)-11.6
- Number of prospective insurance customers63,778 PeopleYear-on-year (%)-10.4
- Number of agreed contract transfers8,495 EngagementsYear-on-year (%)-38.5
- Number of in-force policies2,087,027 EngagementsYear-on-year (%)10.7
- Number of customers776,505 PeopleYear-on-year (%)9
Medium-term management plan targets
As long-term targets, the company aims to reach record highs in the number of prospective insurance customers and the number of agreed contract transfers, and to double the number of branch locations and sales employees.Number of stores and locations
End of period196 locations 160 branch offices and 36 stores
Reference dateEnd of May 2026
Number of employees
Number of Employees2,227 people sales employees, as of end-May 2026
Change during the perioddown 38 from the end of the previous quarter
Annual Dividend
¥94 per share
Interim47
End of period47
Payout ratio
45 %
| Item | Details |
|---|---|
| Document type | Financial Results Presentation |
| Fiscal Period Covered | Second quarter of the fiscal year ending November 2026 |
| Net Sales | 15,599 Millions of yen (YoY -5.1%) |
| Operating profit | 1,076 Millions of yen (YoY -27.1%) |
| Ordinary income | 1,073 Millions of yen (YoY -27.8%) |
| Net income | 703 Millions of yen (YoY -27.8%) |
| Gross Profit Margin | 31.9%, up 0.7 percentage points year on year (cost of sales ratio increased from 67.4% to 68.1%) |
| Operating profit margin | 6.9%, down 2.1 percentage points year on year |
| Selling, general and administrative expenses | 3,901 Millions of yen |
| Results for the three months of the current quarter | Net Sales 7,983 Millions of yen / Operating profit 675 Millions of yen / Ordinary income 676 Millions of yen / Quarterly net income 445 Millions of yen |
| Full-year earnings forecast | Net Sales 31,793 Millions of yen / Operating profit 2,300 Millions of yen / Ordinary income 2,417 Millions of yen / Net income for the current fiscal year 1,617 Millions of yen / Operating profit margin 7.2 % / Annual dividend per share ¥94 |
| Progress against full-year forecast | Net Sales Revised 49.1% (initially 43.0%) / Operating profit Revised 46.8% (initially 32.4%) / Ordinary income Revised 44.4% (initially 30.9%) / Interim net income Revised 43.5% (initially 31.6%) |
| Key KPIs | Indicator name Number of sales employees / Value 2,227 People / Year-on-year (%) -11.7 People, Indicator name Number of new contracts / Value 102,026 Engagements / Year-on-year (%) -11.6 Engagements, Indicator name Number of prospective insurance customers / Value 63,778 People / Year-on-year (%) -10.4 People, Indicator name Number of agreed contract transfers / Value 8,495 Engagements / Year-on-year (%) -38.5 Engagements, Indicator name Number of in-force policies / Value 2,087,027 Engagements / Year-on-year (%) 10.7 Engagements, Indicator name Number of customers / Value 776,505 People / Year-on-year (%) 9 People |
| Number of stores and locations | End of period 196 locations (160 branch offices and 36 stores) / Reference date End of May 2026 / Number of store openings and closures during the period Not disclosed |
| Number of employees | Number of Employees 2,227 people (sales employees, as of end-May 2026) / Change during the period down 38 from the end of the previous quarter / Hiring plan Not disclosed |
| Assumptions Underlying the Business Outlook | An increase in demand for foreign-currency-denominated single-premium products due to exchange-rate movements, a recovery in customer acquisition through partner companies, and the time lag before revenue recognition. Numerical assumptions: Not disclosed |
| Medium-term management plan targets | As long-term targets, the company aims to reach record highs in the number of prospective insurance customers and the number of agreed contract transfers, and to double the number of branch locations and sales employees. |
| Annual Dividend | ¥94 per share |
| Payout ratio | 45 % |
| New initiatives | Expansion of the Contract Transfer Business, Acquisition of contract transfer opportunities, primarily from non-life insurance agencies, Strengthening cross-selling from non-life to life insurance, Strengthening locally focused hiring, Increasing branches and locations through contract transfers |
Items this document does not state (11)
Self-assessment against the planSegment resultsBreakdown of Factors Affecting the ChangeUnit price and quantity metricsRisk amount incorporated into the outlookFinancial targetsAcquisition of treasury sharesCapital expendituresOrders received and order backlogMarket Size / ShareKey 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 payment method for commissions on single-premium products offered by the company's major life insurance partners changed from an I-shaped structure to an L-shaped structure, resulting in a temporary impact on revenue. Other factors cited were a decline in the number of sales employees, sluggish customer acquisition through partner companies due to the impact of the business improvement order, weak sales of protection products, and a decline in the operational quality commission rate resulting from lower sales volume.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.