F&M CO.,LTD.
4771・Standard Market・Services
Accounting Service Business
Bookkeeping agency and accounting service business targeting life insurance sales representatives
| Period | Current | Previous | Change |
|---|---|---|---|
| Sales revenue (external customers) | ¥5,505 million | ¥4,922 million | ↑ |
| Segment operating income | ¥1,873 million | ¥1,610 million | ↑ |
| Number of accounting service members | 113,502 (as of end of March 2026) | 102,276 (as of end of March 2025) | ↑ |
| Segment assets | ¥2,128 million | ¥1,699 million | ↑ |
| Depreciation expense | ¥366 million | ¥281 million | ↑ |
Business Details
Provides bookkeeping agency and other accounting services on a membership basis to sole proprietors and small businesses, primarily centered on life insurance sales representatives. Secures sales opportunities by participating in new employee training programs held by various life insurance companies. Contract procedures are completed entirely online, and the company is promoting enhanced onboarding through tech-touch approaches using its in-house developed app, as well as operational efficiency through AI-based automatic journal entry. The company is expanding its training participation channels from the four major life insurance companies to mid-tier and foreign-affiliated life insurance companies.
Recent Overview
Number of members expanded by 11,226 from the end of the prior fiscal year to 113,502, achieving double-digit growth in both sales revenue and profit
In FY2026 (ending March 2026), the Accounting Service Business achieved sales revenue of ¥5,505 million (up 11.8% year on year) and operating income of ¥1,873 million (up 16.3% year on year). The number of members expanded by 11,226 from the end of the prior fiscal year to 113,502. In addition to expanding training participation channels from the four major life insurance companies to mid-tier and foreign-affiliated life insurance companies, tech-touch measures utilizing the app (additional tutorial functions, notifications for missing documents, guidance on hometown tax donations, etc.) contributed to member acquisition and retention.
Key Products
Growth Drivers
- Expanding training participation channels for new employees at life insurance companies from the four major life insurance companies to mid-tier and foreign-affiliated life insurance companies, strengthening sales opportunities
- Strengthening onboarding and improving member retention rates through tech-touch measures utilizing the in-house developed app (tutorial functions, notifications for missing documents, etc.)
- Expanding the scope of process automation and improving the cost ratio through improved accuracy of AI-based automatic journal entry
- Maximizing results and establishing competitive advantage by building organizational structures according to customer share
- Room for improvement in member penetration rate within the large market of life insurance sales representatives
Risks
- Risk of decreased opportunities to acquire new members due to reduced hiring activity or a decline in the number of sales representatives at life insurance companies
- Risk of member attrition if sole proprietors increasingly self-process accounting due to the spread of AI and cloud accounting software
- Risk that, due to the nature of the membership-based business, a slowdown in the pace of net increase in membership directly impacts sales growth rate
- Risk of profit margin pressure from increased depreciation expense associated with increased investment in system development such as AI-based automatic journal entry
Last updated: June 24, 2026