Anshin Guarantor Service Co.,Ltd.
7183・Standard Market・Other Financing Business
Business
Anshin Hosho Co., Ltd. is a specialized company that provides institutional guarantees as an alternative to the joint guarantor system for rent debt obligations in lease agreements. Established in 2002, the company is listed on the Standard Market of the Tokyo Stock Exchange. Its flagship product is the industry-pioneering "advance payment type" guarantee product, based on a patented scheme (Patent No. 4150659) whereby the company or Life Card fully advances rent payments to real estate management companies before tenants pay their rent. Its main customers are real estate management companies (member stores) nationwide, and as of the end of FY2026 (ending March 2026), the company had achieved 380 thousand guaranteed obligations and a guaranteed obligation balance (monthly) of ¥22,194 million. With AIFUL Corporation as its other affiliated company, the company has built its business foundation centered on a business alliance with Life Card Co., Ltd.
Business Model
The company adopts a fee-based business model that continuously collects guarantee fees from tenants across three layers: initial guarantee fees, renewal guarantee fees, and monthly guarantee fees. This structure has strong stock-type characteristics, with revenue expanding in proportion to the accumulation of guarantee liability balances and case counts. Operating revenue for FY2026 (ending March 2026) reached ¥6,162 million (up 14.6% year on year). The risk of non-recoverable advance payments is managed through credit screening via membership in CIC and JICC, together with a legal collection framework, while collection gains on written-off receivables (¥69 million in FY2026 (ending March 2026)) and late payment penalty income (¥129 million in the same period) supplement earnings as non-operating revenue.
Company Strengths
Leveraging a business model patent (Patent No. 4150659) acquired in 2008, the company pioneered the industry's first "advance payment type" guarantee product, under which it advances rent payments before tenants pay their rent. This proprietary scheme simultaneously eliminates the administrative burden of rent management for real estate management companies and the risk of uncollected rent, and few competitors have introduced similar models, giving the company a basis for differentiation.
Through a business alliance agreement and comprehensive guarantee contract with Life Card Co., Ltd. that has continued since 2003, the company has built a rent advance-payment and direct-debit infrastructure utilizing credit cards. In FY2026 (ending March 2026), sales via Life Card accounted for ¥735 million (11.9% of the total). Membership in both designated credit information agencies, CIC and JICC, ensures credit assessment accuracy and helps contain default risk.
The guarantee obligation balance (monthly) increased 9.5% from ¥20,269 million in FY2025 (ended March 2025) to ¥22,194 million in FY2026 (ending March 2025), while the number of guarantee obligations increased 6.8% from 356 thousand to 380 thousand cases, with key KPIs continuing to expand. Given the stock-based revenue structure, the accumulation of balance and case count forms the foundation for stable future earnings.
ENVALITH's Perspective
Performance Trend
Operating revenue rose for five consecutive fiscal years, from ¥4,130 million in FY2022 (ending March 2022) to ¥6,162 million in FY2026 (ending March 2026) (up 14.6% year on year in FY2026). Operating profit, which had plunged to ¥58 million in FY2025 (ending March 2025), recovered sharply to ¥259 million in FY2026 (ending March 2026) (up 344.9% year on year). The recovery was driven by increased revenue from an expanding guarantee balance, along with a review of fixed costs and greater efficiency in collection operations. Ordinary profit reached ¥415 million (up 138.9% year on year), supported by non-operating income (¥129 million in late payment penalty income and ¥69 million in gains on collection of written-off receivables). Externally, the market environment was a headwind, with rental housing construction starts down 13.5% year on year, but the accumulated existing guarantee balance underpinned revenue. Operating cash flow remained negative at ¥-61 million, reflecting an unchanged structure in which the expansion of advances for payment collection agency services continues to absorb cash.
Growth Strategy
Continued expansion of guarantee balances through franchise base expansion, promotion of affiliated products, and improved collection efficiency
The Company continues sales activities targeting real estate management companies and brokerage firms to expand the number of franchise contracts, guarantee cases, and guarantee balances. In FY2026 (ending March 2026), steady growth continued from the previous period, with advances for collection services reaching ¥9,932 million (up 18.8% year on year).
The Company is promoting the expansion of sales of products utilizing credit card credit assessment, centered on products affiliated with Life Card (such as Life Anshin Plus) and Anshin Q-Rent. It is also strengthening its response to diverse tenant needs by enhancing guarantor payment affiliated services.
The Company is working to improve the efficiency of collection operations, including a smooth transition to legal collection. Results have become evident, with gains on collection of written-off receivables reaching ¥69 million (up 68.3% year on year) and default interest received reaching ¥129 million (up 31.1% year on year) in FY2026 (ending March 2026). The Company aims to improve the collection rate while restraining the increase in bad debt-related expenses.
On May 12, 2026, the Company announced its support for and recommendation to tender in response to the tender offer by Muninova Holdings Co., Ltd. Following completion of the series of procedures, the Company is expected to be delisted, and earnings forecasts for FY2027 (ending March 2027) have not been disclosed. Business continuity is expected under a new management structure as a private company.
Last updated: July 19, 2026