Ai Partners Financial Inc.
7345・Growth Market・Other Financing Business
Business
I-Partners Financial Inc. operates under the management philosophy of "Contributing to society through the reform of Japan's retail financial industry," and is a financial instruments intermediary that provides a business platform enabling Independent Financial Advisors (IFAs) to focus on customer-first asset management advice. The company has concluded business commission agreements with four firms—Rakuten Securities, SBI Securities, Akatsuki Securities, and Tokai Tokyo Securities—and supports individual customers' asset formation through 214 IFAs affiliated with 19 IFA offices nationwide. Together with its consolidated subsidiary AIP Consultants Co., Ltd., the company forms a two-company structure, and operates as a single-segment company in which the Financial Instruments Intermediary Service accounts for 94.1% of net sales.
Business Model
The company pays a fixed percentage of the fees it receives from securities firms (brokerage commissions and trust fee-linked revenue tied to assets under custody) to IFAs, retaining the difference as its own revenue. In addition, it collects system usage fees from IFAs as consideration for using the platform. This structure means that growth in AUM translates directly into increased recurring-type revenue. As of the end of FY2026 (ending March 2026), AUM reached ¥429,738 million, with AUM per IFA reaching ¥2,008 million.
Company Strengths
Assets under management (AUM) intermediated by the company grew 77.5% over four years, from ¥242,146 million at the end of FY2022 (ended March 2022) to ¥429,738 million at the end of FY2026 (ending March 2026). Stock-type fee revenue linked to AUM forms the core of sales, and AUM per IFA also rose 75.8% over the same period, from ¥1,142 million to ¥2,008 million, indicating qualitative improvement in the revenue base.
The company is positioned as one of Japan's leading IFA platform operators, offering functions equivalent to the U.S. "Super OSJ" and "TAMP" models. It provides IFAs with an integrated package of customer management tools, sales tools, training opportunities, and internal control monitoring systems, creating an environment in which IFAs can focus on advisory services. The company also secured access to capital markets through its listing on the TSE Growth Market in 2021.
The company has entered into multiple business outsourcing agreements—with Rakuten Securities (contracted in 2009), SBI Securities (contracted in 2011), Akatsuki Securities (contracted in 2020), and Tokai Tokyo Securities (contracted in 2021)—establishing an independent and neutral product proposal system not dependent on any single securities firm. In FY2026 (ending March 2026), sales composition is increasingly diversified, with Rakuten Securities accounting for 53.0%, SBI Securities 26.2%, and Akatsuki Securities 7.3%.
ENVALITH's Perspective
Performance Trend
Revenue has continued a recovery trend since bottoming out in FY2023 (ending March 2023) at ¥3,000 million, reaching ¥4,584 million in FY2026 (ending March 2026), up 20.7% year-on-year and marking the highest level in the past five fiscal periods. Operating profit recovered to ¥110 million, the highest level since FY2022 (ending March 2022) (¥117 million), and net income also turned positive at ¥90 million. As an external factor, favorable stock market conditions—with the Nikkei average up 43.4% and the Dow Jones Industrial Average up 10.3% versus the previous fiscal year-end—supported AUM expansion. On the other hand, toward the end of the fiscal period, a sharp stock price decline also occurred due to escalating tensions in the Middle East and rising crude oil prices, and the risk of performance fluctuation dependent on market conditions continues. An accounting change also occurred during the period—a change in the estimate of asset retirement obligations (a factor reducing profit by ¥9 million).
Growth Strategy
Sustainable growth through AUM expansion, IFA headcount increase, accelerated business alliances/M&A, and AI utilization
To increase stock-type fee revenue, the company is promoting higher AUM per IFA and an increase in the number of accounts. AUM at the end of FY2026 (ending March 2026) reached ¥429,738 million (up 23.9% year on year), and the number of accounts reached 18,229 (up 7.0% year on year), showing steady expansion.
The company is strengthening its follow-up support system to increase the number of "IFAs that serve the best interests of customers." The number of IFAs at the end of FY2026 (ending March 2026) remained at 214 (up 3, or 1.4%, year on year), and accelerating recruitment remains an ongoing challenge.
The company is advancing a comprehensive business alliance with FK Co., Ltd. (株式会社エフケイ), a major insurance agency. In connection with the withdrawal from the insurance agency business, the company is supporting the transfer of affiliated solicitors, aiming to maintain customer service quality while improving group efficiency.
The insurance agency business of the consolidated subsidiary AIP Consultants Co., Ltd. (株式会社AIPコンサルタンツ) was discontinued as of the end of March 2026. In light of the difficulty of improving profitability and the need to strengthen the management control system, the company decided to concentrate on the Financial Instruments Intermediary Service business.
By actively introducing AI technology to improve the efficiency of routine and administrative operations, the company is creating an environment in which IFAs can focus on practicing the best interests of customers. The company aims to improve profitability through productivity gains.
The company will pursue business alliances expected to generate synergies regardless of industry, along with M&A as necessary, aiming to evolve into a financial instruments intermediary chosen as the "IFA that walks alongside customers' lives."
Last updated: July 19, 2026