Lifenet Insurance Company (7157) Q3 2025 earnings summary

Executive summary

• Achieved strong growth in key indicators for 3Q FY2024, with comprehensive equity at ¥165.2bn (up 5.8% YoY) and annualized premium of policies-in-force at ¥33.3bn (up 19.6% YoY), driven by GCL growth and new product launches.

• Insurance revenue for the nine months ended Dec 31, 2024 rose 21.9% YoY to ¥22,041mn, and net income attributable to owners increased 13.5% YoY to ¥4.96bn.

• Maintained No.1 ranking in Oricon Customer Satisfaction Survey for both overall and online life insurance.

• Launched new "Term" medical insurance targeting younger generations and expanded partner collaborations, including with SMBC and KDDI.

• Comprehensive Equity introduced as a new management indicator, targeting ¥200–240bn by FY2028.

Financial highlights

• Comprehensive equity reached ¥165.2bn, driven by GCL contracts value and net income, despite some impact from rising interest rates.

• Annualized premium of policies-in-force grew 19.6% YoY to ¥33.3bn, with GCL showing steady growth while individual life was sluggish.

• Insurance service results for 3Q YTD were ¥7.19bn (up 14.6% YoY), progressing at 80.8% of full-year forecasts.

• Net income for 3Q YTD was ¥4.96bn, up ¥591mn YoY.

• Consolidated solvency margin ratio stood at 1,829.6% as of Dec 31, 2024.

Outlook and guidance

• FY2024 forecasts remain unchanged: annualized premium of policies-in-force at ¥34.0bn, insurance service results at ¥8.9bn, and net income at ¥6.2bn.

• Temporary reduction in net income (¥600–700mn) and comprehensive equity (¥1.5–2.0bn) expected due to a potential corporate tax rate increase.

• Mid-term plan targets comprehensive equity of ¥200–240bn and stock price above ¥3,000 by FY2028, with a 10% annual growth rate in CE per share.