Anicom Holdings (8715) Q1 2027 earnings summary

Executive summary

• Recurring revenue rose 20.1% year-over-year to ¥21,905 million for the quarter ended June 30, 2026, driven by new policy acquisition, ancillary business expansion, and strong investment revenue.

• Recurring profit surged 267.5% year-over-year to ¥3,530 million, and profit attributable to owners of parent increased 274.0% to ¥2,433 million, both record highs for a first quarter.

• Comprehensive income grew 110.6% year-over-year to ¥1,468 million.

• Growth was supported by the absence of prior-year costs related to AXA Direct policy transfers and robust investment gains.

Financial highlights

• Underwriting revenue increased 5.9% year-over-year to JPY 16,714 million; investment revenue soared 521.8% to JPY 2,252 million.

• Basic earnings per share increased to ¥33.09 from ¥8.69 year-over-year.

• Net profit before amortization of goodwill was ¥2,498 million, up from ¥715 million year-over-year.

• Combined ratio improved to 95.5% from 97.9% year-over-year, with the expense ratio dropping 4.5 points to 31.0%.

• Total assets were ¥75,738 million as of June 30, 2026, with net assets at ¥29,261 million and an equity ratio of 38.8%.

Outlook and guidance

• Full-year recurring revenue is forecast at ¥81,000 million (+9.7% YoY), with recurring profit targeted at ¥5,000 million (+41.1% YoY).

• Full-year profit attributable to owners of parent forecast at ¥3,250 million, up 47.4%.

• Cumulative first-half recurring revenue and profit are projected at ¥41,000 million and ¥4,000 million, respectively.

• Annual dividend forecast is ¥13.50 per share.