Exit from the insurance business through a business transfer
First written in FY2024-Q1. 1 of 3 entries say "Achieved", first in FY2024. Latest entry: FY2024.
No other company in this theme has enough history to compare yet.
- FY2024AchievedAnnual report
「This resulted from the transfer of our insurance business to J&S Insurance Service Co., Ltd.」
The planned transfer of the insurance business, for which an agreement had been signed in the previous fiscal year, was completed, and the company recorded a gain on business transfer of ¥70 million during the fiscal year under review. - FY2024-Q2Recognition of proceeds and gain on business transferAnnual report
「Proceeds from business transfer － 70,000」
For the cumulative second quarter, the company recorded proceeds from a business transfer of ¥70 million and a gain on business transfer of ¥70 million. Although the amounts are consistent with the planned transfer of the insurance business disclosed in the previous filing, this filing does not restate details of the transferred business or transferee. - FY2024-Q1First statedAnnual report
「On 31 July 2023, the company decided to transfer its insurance business to J&S Insurance Service Co., Ltd. and entered into a transfer agreement on 1 August 2023. As policyholders age and competition in the insurance industry intensifies, acquiring new contracts has become difficult and the decline in insurance commission income has become pronounced. Since it would be difficult to secure operating revenue while maintaining a structure capable of protecting policyholders, the company decided to transfer the business. The transfer was scheduled for 1 September 2023, at a transfer price of ¥70 million.」
Against a backdrop of an aging policyholder base, intensifying competition, difficulty acquiring new contracts and declining insurance commission income, the company entered into an agreement to transfer its insurance business to J&S Insurance Service Co., Ltd. The transfer was scheduled for 1 September 2023; operating revenue in the previous fiscal year was ¥14 million and the transfer price was ¥70 million.