2007年3月にジャスダック証券取引所に株式上場を果たし、2012年12月に東京証券取引所（以下、東証）市場第1部、2022年4月に東証市場の区分変更に伴い東証プライム市場へ移行した。上場によって調達した資金により企業の信用リスクに投資するファンドを2008年に初めて組成し、子会社で運用を開始した。それまで、引き受けた信用リスクに関してはリスク度に応じて細分化し、すべて金融機関に移転しリスクヘッジを行っていたが、新たにファンドを組成することで収益機会の多様化と受託リスク力の強化を図り、成長を加速化していった。現在は全体の15%程度の信用リスクをグループ会社で受託している（2024年8月末時点でファンド組合は連結子会社10社、持分法適用関連会社1社、持分法非適用関連会社1社）。■eGuarantee ＜8771＞ Company Overview
1. Company history
The company began when Mr. Eto Masanori (Eto Masanori), the current president and representative director, launched it as a subsidiary of an in-house company in 2000/9, three years after joining ITOCHU Corporation (8001). Initially, it was commercialized for the purpose of a service that guarantees uncollected risk of sales claims (bills receivable, accounts receivable, etc.) in BtoB business on the internet, but since demand was lower than expected, it was developed into a credit risk guarantee service for sales claims, etc. in real business-to-business commercial transactions that do not go through the internet.
It was listed on the JASDAQ Stock Exchange in 2007/3, and transitioned to the Tokyo Stock Exchange (hereafter, Tokyo Stock Exchange) Market Section 1 in 2012/12, and to the Tokyo Stock Exchange Prime Market in 2022/4 due to changes in the classification of the Tokyo Stock Exchange. A fund to invest in corporate credit risk using funds raised through listing was first formed in 2008, and management began as a subsidiary. Until then, underwritten credit risks were subdivided according to risk level, and all were transferred to financial institutions to hedge risks, but by forming new funds, profit opportunities were diversified and fiduciary risk capabilities were strengthened, and growth was accelerated. Currently, about 15% of the total credit risk is entrusted to group companies (as of the end of 2024/8, the fund association has 10 consolidated subsidiaries, 1 equity law applicable affiliated company, and 1 affiliate company not covered by the equity method).
Know-how related to export debt guarantees was absorbed in 2012/1, and the factoring business of Coface Group Japan Branch (Coface Japan Finance Co., Ltd.), which is a major French credit insurance company, was acquired in order to expand the management base and strengthen product development capabilities. Utilizing the know-how gained through this acquisition, we formed business alliances with local financial institutions in Korea in 2013/12 and China in 2014/6, respectively, and started an export debt guarantee service business. However, there are many companies that use trade insurance and international factoring services for overseas transactions (exports/investment/loans), and the ratio of sales is small.
In line with the expansion of the business, e-Guarantee Solution Co., Ltd., which performs in-house system development and business-related office work (contract-related work and data registration business), was established in 2013, and RG Guarantee Co., Ltd., which specializes in small claims guarantee services, was established as a subsidiary in 2014. Also, in 2017, business-related office work was cut out from e-Guarantee Solutions, and e-Guarantee Shared Service Co., Ltd. (currently Easy Payment Co., Ltd.) was established, and in 2019, e-Guarantee Investment Co., Ltd., which invests in venture companies and acquisies/holds/manages marketable securities, was established.
(Author: FISCO Visiting Analyst Joe Sato)
