Kamakura Shinsho, Ltd.
6184・Prime Market・Services
Business
Kamakura Shinsho Co., Ltd. was founded in 1984 as a publishing company for the Buddhist altar and ritual implements industry, and has since expanded from its origins in funerals, graves, and Buddhist altars into the broader end-of-life planning field. Currently, centered on a matching platform used by approximately 200,000 users annually, the company operates a diverse range of services including the Asset Management Business covering inheritance and real estate, a nursing care business, the Public-Private Partnership Business, and a small-amount short-term insurance business. Its primary customers are elderly individuals engaged in end-of-life planning and their families, and with Japan's aging population—where the proportion of those aged 65 and over is projected to reach 38.4% by 2065—serving as a structural tailwind, the company aims to become the sole and unique platformer of 'End-of-Life Planning Infrastructure.' It is listed on the Prime Market of the Tokyo Stock Exchange.
Business Model
The company operates a matching platform that resolves the information asymmetry existing between users and operators such as funeral service providers, cemeteries, and nursing care facilities, with fee revenue based on referrals and contract closings as its core business. Through customer acquisition to key sites such as "Ii Sogi," "Ii Ohaka," and "Ii Butsudan," the company accumulates customer data and builds an end-of-life planning ecosystem that enhances customer lifetime value by promoting cross-use of adjacent services such as inheritance, nursing care, and insurance.
Company Strengths
Revenue expanded approximately 2.2x over four years, from ¥3,826 million in FY2022 to ¥8,336 million in FY2026 (ending March 2026). Operating profit also doubled over the same period, from ¥533 million to ¥1,162 million, achieving an operating profit margin of 13.9% in FY2026 (ending March 2026). The revenue growth rate is accelerating, demonstrating that scale expansion and improved profitability are being achieved simultaneously.
The equity ratio stood at an extremely healthy 75.1% at the end of FY2026 (ending March 2026). Net assets expanded to ¥6,348,952 thousand, supported by a third-party allotment of shares to SOMPO Holdings (proceeds of ¥1,227,670 thousand) and the disposal of treasury stock (proceeds of ¥1,145,160 thousand). The company has also secured overdraft and commitment line agreements totaling ¥1,250,000 thousand with major banks.
In December 2025, the company entered into a capital and business alliance with SOMPO Holdings. Through collaboration with SOMPO Care (nursing care business) and SOMPO Himawari Life Insurance (life insurance business), the company has gained access to nursing care and insurance customer bases. This is a strategic alliance aimed at accelerating the establishment of a one-stop provision system for End-of-Life Planning services.
ENVALITH's Perspective
Performance Trend
From FY2022 to FY2026, revenue grew at an average annual rate of approximately 21%, while operating profit grew at a similarly stable rate of approximately 21%, maintaining a steady expansion trend. In the first quarter of FY2027 (ending January 2027) (February–April 2026), revenue reached ¥2,202 million (up 12.0% year on year), operating profit was ¥303 million (up 30.0% year on year), and adjusted EBITDA was ¥397 million (up 34.0% year on year), marking a new record high for a first quarter. Profit growth outpaced revenue growth, confirming an improvement in profitability. As an external factor, the gradual economic recovery, supported by improvements in the employment and income environment, has underpinned consumer spending related to end-of-life planning, although uncertainty over overseas economic and price trends continues to warrant close attention. The full-year forecast (revenue of ¥10,500 million, operating profit of ¥1,700 million) remains unchanged.
Growth Strategy
Aiming to become the No.1 end-of-life planning infrastructure provider through deepening the end-of-life planning ecosystem, consolidating the nursing care business, and expanding the Public-Private Partnership Business
Effective February 1, 2026, Age Plus absorbed Uteru through a merger, consolidating management resources for the Nursing Care Facility Referral Service business. The company aims to build a "No.1 referral platform" across both online and offline channels. Nursing care business revenue achieved high growth of +48.1% year-on-year in the first quarter of FY2027 (ending January 2027).
The funeral business, the company's core business, performed steadily with growth of +20.7% year-on-year in the first quarter of FY2027 (ending January 2027). The company aims to maintain and strengthen a stable revenue base through expansion of the existing platform's user base and an increase in the number of listed operators.
The company is actively expanding the Public-Private Partnership Business in collaboration with local governments nationwide, aiming to raise social recognition as end-of-life planning infrastructure and establish new revenue sources. Demand from local governments is increasing in response to social challenges such as an aging population and a rising number of single-person households.
The company is developing the Asset Management Business covering inheritance, real estate, and other areas, capturing asset management needs related to end-of-life planning. It aims to efficiently acquire customers through cross-use with its existing funeral and nursing care customer databases.
The full-year consolidated earnings forecast is revenue of ¥10,500 million (+26.0% year-on-year), operating profit of ¥1,700 million (+46.3% year-on-year), and net income of ¥1,100 million (+43.8% year-on-year). First-quarter results reached a record high, and the forecast remains unchanged from the announcement on March 12, 2026.
Last updated: July 17, 2026