Agent IG shares surge after company raises FY December 2026 guidance on strong life insurance new contracts
Agent IG Holdings, Inc. <377A> surged after raising its consolidated earnings forecast for the fiscal year ending Dec 2026 after market close on Sep 30. Agent IG Holdings raised its revenue guidance to 14.5 billion yen from 13.6 billion yen (up 11.0% year-on-year), operating profit to 260 million yen from 200 million yen (up 79.3% year-on-year), and net profit to 140 million yen from 80 million yen (compared with 9 million yen in the prior fiscal year).
The upward revision was driven by new life insurance contracts at unit Financial Japan growing faster than originally planned. In addition, completion of an asset transfer involving insurance contracts to be acquired by consolidated unit Agent Insurance Group from Advance Create Co.,Ltd. <8798> means related commission income will be recognized sequentially. Furthermore, progress in local market development and cross-selling in the U.S. business drove profit-sharing income from major affiliated insurers in the corporate insurance division above initial expectations.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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