Anicom Holdings: Q1 profit declines despite revenue growth

Anicom Holdings reported consolidated financial results for the three months ended June 30, 2025, with recurring revenues rising 10.4% year-on-year to JPY 18,235 million. This growth was driven by strong pet insurance policy acquisitions and expansion of peripheral businesses. However, recurring profit decreased significantly by 40.7% to JPY 960 million, and net profit attributable to owners of parent fell 41.5% to JPY 650 million, primarily due to costs associated with the transfer of policies from AXA Direct. The combined ratio, based on earned premiums, increased by 4.0 percentage points to 97.9%.

In strategic moves, the company acquired naming rights for the Cat Adoption Room at Kawasaki City Animal Protection Center and launched new pet care products and services. Anicom also announced a share buyback program of up to JPY 1.0 billion, with approximately JPY 240 million acquired by the end of June 2025. Total assets saw a slight decrease of 0.4% to JPY 72,189 million, while total liabilities decreased by 0.3% to JPY 44,307 million, and total net assets fell by 0.7% to JPY 27,882 million.