ENVALITH
株式会社サン・ライフホールディング logo

SUN LIFE HOLDING CO.,LTD.

7040・Standard Market・Services

Official website
株式会社サン・ライフホールディング logo
SUN LIFE HOLDING CO.,LTD.7040

Business

SUN LIFE HOLDING Co., Ltd. is a holding company (established 2018) centered on Sun Life Co., Ltd., which was founded in 1970. With 12 consolidated subsidiaries, the company operates primarily in Kanagawa Prefecture and Tokyo, running four segments: Ceremonial Business (Funeral & Memorial Service Business), Nursing Care Business (home-based and facility-based), Hotel Business (Hotel & Bridal Business), and Others (Mutual Aid Society Business, Small-Amount Short-Term Insurance Business, House Cleaning & Commercial Cleaning, etc.). Centered on a customer base built around mutual aid society members, the company's management policy is to evolve into a "Total Life Support Company" that provides consistent support across life's major ceremonial occasions, nursing care, and end-of-life planning. Consolidated net sales for FY2026 (ending March 2026) were ¥14,149 million.

Business Model

The foundation is a circular model in which relationships with customers are built in advance through the Mutual Aid Society Business (with an advance payment balance from prepaid specific transactions of ¥25.3 billion), and revenue is recovered through the Ceremonial Business at the time of funeral execution. In addition, the company aims to maximize customer lifetime value by cross-selling nursing care services, hotels, bridal services, house cleaning, small-amount short-term insurance, and other offerings to the same customer base. Capital expenditures are primarily funded through internal funds sourced from operating cash flow, and the company is expanding its facility network while maintaining financial discipline.

Company Strengths

The mutual aid society operated by Sun Life Members Co., Ltd. and others holds a balance of prepaid specified transaction deposits of ¥25.3 billion, forming a solid foundation for establishing relationships with customers in advance. In October 2024, the company also took over member rights and obligations from Sagami Fukushikai, a social welfare corporation, continuing to incorporate external member bases.

As of the end of FY2026 (ending March 2026), five new Family Hall facilities were established in Hadano, Ebina, Fujisawa, Yamato, and Hachioji between June 2025 and February 2026. Historically, multiple facilities have been opened every year since 2019, building a wide-area network spanning the entirety of Kanagawa Prefecture through to the Tama area of Tokyo. Ceremonial Business revenue was ¥10,212 million, accounting for approximately 72% of the group's total.

While the Ceremonial Business (funeral services) remains the core, the company also operates a Nursing Care Business (revenue of ¥2,276 million, up 5.2% year on year) and a Hotel & Bridal Business (revenue of ¥1,120 million, up 15.0% year on year, turning profitable). By avoiding dependence on a single business and having each segment share the mutual aid society's member base, the group creates synergies across segments.

ENVALITH's Perspective

Operating profit for FY2026 (ending March 2026) was ¥1,102 million (down 15.5% year on year), and profit attributable to owners of parent was ¥619 million (down 25.8% year on year), representing a significant decline in earnings. The main causes were rising personnel costs associated with improved treatment, increased opening costs for five new ceremonial hall locations, and the recording of extraordinary losses including a loss on disposal/sale of fixed assets of ¥95 million and an impairment loss of ¥87 million. This does not indicate that the competitiveness of the core business has been impaired. For FY2027 (ending March 2027), the company expects a recovery to operating profit of ¥1,140 million (up 3.4% year on year) and net income of ¥790 million (up 27.5% year on year).

In the Ceremonial Business, the number of funeral services decreased due to a decline in the number of deaths in key operating areas, and competition has continued to intensify amid industry consolidation, along with the ongoing scaling-down of ceremonial and ritual culture. As an external factor, while the number of deaths nationwide is expected to continue rising until around 2040, it should be noted that Kanagawa and Tokyo, the company's key operating areas, have already entered a declining phase. The increase in opening costs for new ceremonial halls is putting pressure on profits in the short term, and the progress of investment recovery needs to be continuously monitored.

Cash and cash equivalents at the end of FY2026 (ending March 2026) stood at ¥3,773 million, a significant decrease of ¥6,639 million from the end of the previous fiscal year. This was due to a ¥8,750 million placement into time deposits (investing cash flow), and the main cause was a change in the form of fund management rather than an outflow of funds. Together with the purchase of government bonds of ¥1,299 million and the acquisition of investment securities of ¥1,100 million, this reflects a proactive stance toward managing surplus funds. On the other hand, advances received from prepaid specified transactions continue to decline (down ¥409 million), and the trend in net membership changes in the Mutual Aid Society Business warrants continued attention as a leading indicator of future demand.

Growth Strategy

Growth strategy centered on three pillars: continued establishment of ceremonial hall locations, expansion of end-of-life support services, and M&A in the nursing care business

In response to recent demand for family funerals, the company newly established 5 family hall locations in the Kanagawa and Tokyo areas between June 2025 and February 2026. Renewal and repair of existing ceremonial halls are also being advanced in parallel, aiming to strengthen the facility network in both quality and quantity. New store opening costs are pressuring profits in the short term, but investment recovery through improved utilization rates will be the focus going forward.

The company launched "Life Relief," which comprehensively covers all aspects of end-of-life planning, including funerals, Buddhist altars, memorial services, burial, inheritance, and life support, and is promoting customer-attracting events and enhanced consultation systems. Through building long-term relationships with customers and acquiring new customers, the company aims to strengthen the competitiveness of the Ceremonial Business and expand its Mutual Aid Society membership base.

In December 2025, the day service facility "Emmy's Shonan Hiratsuka" was opened through a business transfer, expanding sales revenue by +5.2% year-on-year to ¥2,276 million. The company is building a personnel supply system through enhanced recruitment of overseas talent and new graduates, and promoting unit price increases through acquisition of specific facility additions, among other measures. M&A aimed at expanding the senior business scope is also explicitly stated as a management policy, with future deal formation being a point of focus.

In FY2026 (ending March 2026), the Hotel Business achieved a turnaround to profitability with operating income of ¥12 million (compared to an operating loss of ¥13 million in the previous fiscal year). This was driven by cost ratio reduction through in-house operations, enhanced information dissemination utilizing SNS, and an increase in the number of wedding ceremonies held. The company will continue to develop new products and strengthen sales in the EC segment, and revitalize The Wings Ebina, aiming to firmly establish profitability and expand earnings.

Last updated: July 19, 2026