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Advancere Research Memo (11): A dividend payout ratio of over 50% is a target, and the total investment yield including shareholder benefits is around 5%.
Advance Create Co., Ltd. (8798) is evaluated as a company that actively pursues shareholder returns. The dividend policy is to "enhance shareholder value by striving to enhance internal reserves that will be the source of future growth strategies and implementing dividends according to performance," with a goal of a dividend payout ratio of 50% or more. The planned dividend per share for the September 2024 period is 35.0 yen (dividend payout ratio 85.3%), the same as the previous period. Shareholder benefits program.
Advancry Research Memo (10): Working on environmental measures and promoting diversity.
Future Outlook: 3. AdvancCreate<8798> recognizes the importance of ESG as a management priority and has actively promoted it in the past. For example, regarding efforts in E (environmental), they have implemented practices such as promoting paperless, reducing CO2 emissions through online insurance consultations (eliminating physical travel), and reducing electricity consumption by closing company stores on weekends and holidays. The paperless ratio* among these efforts is currently at 201.
Advancry Research Memo (9): Aim to expand revenue through promotion of portfolio strategy, etc.
2. Business indicators and growth strategy goals in the future market size of the insurance industry in Japan are approximately 47.7 trillion yen annually, of which the retail sector is estimated to be approximately 20 trillion yen. The handling amount of Advance Create <8798> is about 40 billion yen, and the share is less than 1%. In other words, it can be said that the growth potential through share expansion is extremely large. In such a market environment, the company utilizes advanced technologies such as avatars and generative AI to develop an OMOx global strategy, among others.
Advancely Research Memo (7): Temporary Increase in Interest-bearing Debt due to Delay in Liquidation of Receivables.
Performance trends of Advance Create (8798): 3. Financial condition and indicators. As of the end of the 2nd quarter of the September 2024 fiscal year, the total assets increased by 1,401 million yen from the previous period to 11,913 million yen. The main reasons for the increase were a decrease of 429 million yen in accounts receivable and an increase of 2,329 million yen in trade receivables in current assets. The increase in trade receivables was due to the revision of structured finance, and from February 2024, we will proceed with the liquidation of sales receivables under a new scheme.
Advancle Research Memo (5): Despite a decline in revenue and profit for the second quarter of the fiscal year ending September 2024, the bottom line is expected to rebound.
- Performance Trends: 1. Overview of Cumulative Performance for the Second Quarter of Fiscal Year Ending September 2024 Advance Create <8798>'s consolidated performance for the second quarter of the fiscal year ending in September 2024 was a revenue of 500.5 billion yen, a decrease of 22.5% compared to the same period last year, an operating profit of 343 million yen, a decrease of 55.0%, an ordinary profit of 332 million yen, a decrease of 50.1%, and a net quarterly profit for the parent company's shareholders of 144 million yen, a decrease of 55.4%. The decrease in revenue was due to the decrease in ANP applications for the insurance brokerage business.
Advancle Research Memo (4): Achieving High Profitability as an Insurtech Company with an In-house Development Department.
■ Business Overview 2. Strengths of Advanced Create's <8798> The company's strengths can be summarized into three main areas. First, they have internalized the development of insurance-specific software. Despite being a dedicated insurance broker, they have over 100 IT personnel (including engineers and designers), and are constantly improving Japan's largest insurance comparison site, 'Hoken Ichiba'. In addition, they have a system development team linked directly to the management and sales offices to develop customer management systems, as mentioned earlier.
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