Worth reading
74In 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
7.9
% (year-on-year change in revenue)Wording
Conditional
How definitive the wording is.Contents of this document
Earnings presentationFiscal year ending March 2026, full year11 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥11,029 million+7.9%
Operating profit¥5,201 million+1.9%
Ordinary income¥5,302 million+1.9%
Net income¥3,589 million
Selling, general and administrative expenses¥2,871 million expenses
Gross Profit Margin
Rate73.2%
Year on year against the same period last year▲3.3pt
Operating profit margin
Rate47.2%
Year on year against the same period last year▲2.7pt
Full-year earnings forecast
Net Sales
¥11,300 million
Operating profit
¥5,200 million
Ordinary income
¥5,300 million
Net income
¥3,550 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 Sales98%
Operating profit100%
Ordinary income100%
Net income101%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
In line with the initial forecast; guarantee obligations and profit targets were achievedAssumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
- Contract renewal rate among existing customersAssumptionsMaintained
- Sales resourcesAssumptionsContinue expanding and accelerating their development into productive personnel
New initiatives
- Full-scale launch of the sales-oriented partner model
- Entry into the loan guarantee business and promotion of individual projects
- AI-powered sales support, proposal generation and conversion of training into videos
- Expansion of matching-type partner companies, including shinkin banks
- Research into and consideration of expansion into overseas markets
Key KPIsA metric the company considers important as a management benchmark.
- Guarantees¥9,113 millionYear on year against the same period last year+10.3%
- Guarantee balance¥27,759 million
- Guarantee fee rate1.24%Year on year against the same period last year▲0.08pt
- Number of companies screened annually36 10,000 companies
- Number of information items registered per day260 10,000 items
- Number of companies covered by guarantees58 10,000 companies
- Customer contract renewal rateMore than 90%
Unit price and quantity metricsThese figures show sales broken down by price and volume.
- Quote request acquisition rate (new, year 2)26.3%
- Quote request acquisition rate (years 3–10)24.7%
- Conversion rate (new, year 2)15.6%
- Conversion rate (years 3–10)16.0%
- Average unit price (new, year 2)¥35 10,000
- Average unit price (years 3–10)¥75 10,000
Medium-term management plan targets
Target fiscal yearFiscal year ending August 2028
Consolidated revenue¥20,000 million
Consolidated ordinary income¥10,000 million
Comparison with actual resultsSignificantly behind schedule in achieving performance targets
Financial targets
ROE20%
ROIC20%
Actual resultsROE 16.2%、ROIC Not disclosed
Market Size / Share
- Market size of the accounts receivable transaction market¥219 trillion
- Potential market size of the loan guarantee market
- Credit risk guarantee penetration rate in Europe (UK)12-14%
- Credit risk guarantee penetration rate in Europe (France)30-35%
- Credit risk guarantee penetration rate in Europe (Germany)40% or more
Number of employees
Number of Employees113 Sales personnel people
Change during the periodUp 19% year on year
Payout ratio
RateApproximately 100% (after revision)
Actual results51.4%
Acquisition of treasury shares
The company states that cash and cash equivalents and net assets declined as a result of the share repurchase, but the repurchase authorization amount, number of shares and period are not disclosed| Item | Details |
|---|---|
| Document type | Earnings presentation |
| Fiscal Period Covered | Fiscal year ending March 2026, full year |
| Net Sales | ¥11,029 million (YoY +7.9%) |
| Operating profit | ¥5,201 million (YoY +1.9%) |
| Ordinary income | ¥5,302 million (YoY +1.9%) |
| Net income | ¥3,589 million |
| Gross Profit Margin | Rate 73.2% / Year on year against the same period last year ▲3.3pt |
| Operating profit margin | Rate 47.2% / Year on year against the same period last year ▲2.7pt |
| Selling, general and administrative expenses | ¥2,871 million (expenses) |
| Full-year earnings forecast | Net Sales ¥11,300 million / Operating profit ¥5,200 million / Ordinary income ¥5,300 million / Net income ¥3,550 million |
| Progress against full-year forecast | Net Sales 98% / Operating profit 100% / Ordinary income 100% / Net income 101% |
| Self-assessment against the plan | In line with the initial forecast; guarantee obligations and profit targets were achieved |
| Key KPIs | Indicator name Guarantees / Value ¥9,113 million / Year on year against the same period last year +10.3%, Indicator name Guarantee balance / Value ¥27,759 million / Year on year against the same period last year Not disclosed, Indicator name Guarantee fee rate / Value 1.24% / Year on year against the same period last year ▲0.08pt, Indicator name Number of companies screened annually / Value 36 10,000 companies / Year on year against the same period last year Not disclosed, Indicator name Number of information items registered per day / Value 260 10,000 items / Year on year against the same period last year Not disclosed, Indicator name Number of companies covered by guarantees / Value 58 10,000 companies / Year on year against the same period last year Not disclosed, Indicator name Customer contract renewal rate / Value More than 90% / Year on year against the same period last year Not disclosed |
| Unit price and quantity metrics | Indicator name Quote request acquisition rate (new, year 2) / Value 26.3%, Indicator name Quote request acquisition rate (years 3–10) / Value 24.7%, Indicator name Conversion rate (new, year 2) / Value 15.6%, Indicator name Conversion rate (years 3–10) / Value 16.0%, Indicator name Average unit price (new, year 2) / Value ¥35 10,000, Indicator name Average unit price (years 3–10) / Value ¥75 10,000 |
| Number of employees | Number of Employees 113 Sales personnel (people) / Change during the period Up 19% year on year |
| Assumptions Underlying the Business Outlook | Item Contract renewal rate among existing customers / Assumptions Maintained, Item Sales resources / Assumptions Continue expanding and accelerating their development into productive personnel |
| Medium-term management plan targets | Target fiscal year Fiscal year ending August 2028 / Consolidated revenue ¥20,000 million / Consolidated ordinary income ¥10,000 million / Comparison with actual results Significantly behind schedule in achieving performance targets |
| Financial targets | ROE 20% / ROIC 20% / Actual results ROE 16.2%、ROIC Not disclosed |
| Payout ratio | Rate Approximately 100% (after revision) / Actual results 51.4% |
| Acquisition of treasury shares | The company states that cash and cash equivalents and net assets declined as a result of the share repurchase, but the repurchase authorization amount, number of shares and period are not disclosed |
| Market Size / Share | Item Market size of the accounts receivable transaction market / Value ¥219 trillion, Item Potential market size of the loan guarantee market / Value Not disclosed, Item Credit risk guarantee penetration rate in Europe (UK) / Value 12-14%, Item Credit risk guarantee penetration rate in Europe (France) / Value 30-35%, Item Credit risk guarantee penetration rate in Europe (Germany) / Value 40% or more |
| New initiatives | Full-scale launch of the sales-oriented partner model, Entry into the loan guarantee business and promotion of individual projects, AI-powered sales support, proposal generation and conversion of training into videos, Expansion of matching-type partner companies, including shinkin banks, Research into and consideration of expansion into overseas markets |
Items this document does not state (9)
Results for the three months of the current quarterSegment resultsBreakdown of Factors Affecting the ChangeNumber of stores and locationsRisk amount incorporated into the outlookAnnual DividendCapital 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 as guarantee obligations grew. Although the guarantee fee rate was broadly flat, the gross profit margin declined due to higher reinsurance fee rates resulting from deteriorating loss ratios at securitization destinations, as well as an increase in guarantee payments on guarantees underwritten by the company. SG&A expenses rose only slightly: personnel expenses increased as headcount grew, while systemization reduced overtime costs. The delay in the medium-term management plan is primarily attributable to the failure to increase the number of sales personnel as planned in the first year of the plan.
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.