Anicom Holdings (8715) Q2 2026 earnings summary

Executive summary

• Recurring revenue rose 10.6% year-over-year to JPY 36,400 million, driven by growth in pet insurance and related businesses.

• Profit attributable to owners of parent declined 34.4% year-over-year to JPY 1,429 million, mainly due to higher expenses and increased loss ratios.

• The number of policies in force increased by 4.6% from the previous fiscal year-end, reaching 1,347,456.

• Investment revenue increased 28.3% year-over-year to JPY 663 million, reflecting agile investment management.

• The number of new pet insurance policies reached 138,000, with policies in force up 8.9% year-over-year to 1,347,000.

Financial highlights

• Underwriting revenue grew 10.0% year-over-year to JPY 31,674 million.

• Recurring profit before amortization of goodwill fell 31.6% year-over-year to JPY 2,227 million, while recurring profit dropped 33.0% to JPY 2,098 million due to a 15.2% rise in recurring expenses.

• Basic earnings per share for the period were 19.20 yen, down from 27.68 yen a year earlier.

• Total assets as of September 30, 2025, were 74,673 million yen, up 2,178 million yen from March 31, 2025.

• Net assets increased to 28,311 million yen, with an equity ratio of 38.1%.

Outlook and guidance

• Full-year recurring revenue is forecast at JPY 73,000 million, up 7.9% year-over-year.

• Full-year recurring profit is projected at JPY 4,159 million or 3,300 million yen, down 33.2% year-over-year.

• Profit attributable to owners of parent is expected to be 2,100 million yen (down 35.3%), with basic EPS of 28.45 yen.

• The company aims for a dividend payout ratio of around 30% and continuous dividend increases, with an annual dividend forecast of 9.00 yen per share.