HORAI Co.,Ltd.
9679・Standard Market・Services
Insurance Business
HORAI's core revenue segment handling non-life and life insurance agency operations
| Period | Current | Previous | Change |
|---|---|---|---|
| Operating revenue (interim period) | ¥631 million | ¥530 million | ↑ |
| Gross profit (interim period) | ¥265 million | ¥176 million | ↑ |
| Operating revenue (full year, prior period actual) | ¥1,173 million | — | — |
| Segment profit (full year, prior period actual) | ¥458 million | — | — |
Business Details
As a risk management specialist, the segment provides consulting services tailored closely to customer needs, conducting Non-Life Insurance Agency Business and Life Insurance Solicitation Business. The company is focused on deepening its comprehensive proposal capabilities as a risk management partner and strengthening its organization and structure to achieve sustained growth. The main business partner is Mitsui Sumitomo Insurance Co., Ltd. (accounting for approximately 10.0% of prior full-year operating revenue, or ¥609 million). The asset-light business model boasts a high profit margin and contributes significantly to companywide operating profit.
Recent Overview
Interim operating revenue increased ¥101 million year-on-year due to steady growth in new life insurance contracts and smooth progress in non-life insurance policy renewals
In the interim period of FY2026 (ending September 2026) (October 2025 to March 2026), operating revenue was ¥631 million (up ¥101 million year-on-year), driven by steady increases in new life insurance contracts and smooth progress in renewals of maturing non-life insurance contracts. Meanwhile, although operating cost exceeded the prior-year period primarily due to increased personnel expenses, gross profit improved significantly to ¥265 million (up ¥89 million year-on-year).
Key Products
Growth Drivers
- Continued increase in new contracts in the life insurance field
- Maintenance of renewal and continuation rates for existing contracts in the non-life insurance field
- Increase in per-customer revenue through strengthened comprehensive proposal capabilities as a risk management partner
- Improvement in proposal quality through the development of specialists with expert knowledge
- Effective utilization of a high-quality customer base and development of new customers
Risks
- Risk of revenue fluctuation due to cancellation or non-renewal of large non-life insurance contracts (occurred in the prior fiscal year)
- Risk of declining profit margin due to rising operating costs such as personnel expenses
- Risk of contraction in the domestic insurance market due to declining birthrate, aging population, and population decline
- Risk of revenue dependence on a key business partner (Mitsui Sumitomo Insurance), accounting for approximately 10% of prior full-year operating revenue
- Increased costs of maintaining organization and structure due to persistent inflation and labor shortages
Last updated: December 16, 2025