What Mortgage Service Japan does

Mortgage Service Japan (日本モーゲージサービス株式会社, TSE: 7192) is a publicly listed Japanese mortgage originator and bank agent founded in August 2005 and headquartered in Shimbashi, Tokyo. The company's primary franchise is its approved-agent status with the Japan Housing Finance Agency (住宅金融支援機構), which enables it to originate and distribute Flat35 government-backed long-term fixed-rate mortgages across Japan through a 42-location network (4 direct-operated stores plus 38 agency partners). Beyond Flat35 and its variants (Flat35 MAX for up to 100% LTV, Flat50 for 36–50 year terms, Flat35 Renovation, Flat35S, and regional/childcare/maintenance discount programs), MSJ offers proprietary products including the Melody variable-rate mortgage (up to 50 years, guaranteed by MG Guarantee), the Toiro variable/fixed mortgage (guaranteed by ZenkEN), the Re-Birth 60 reverse mortgage for borrowers aged 60+, multiple bridge-loan products for interim construction financing, and a B2B resale loan for real estate developers. The company also operates as a registered bank agent distributing Sony Bank and au Jibun Bank mortgages, and as a partner with APLUS for the FulFul supplementary loan package.

Revenue is generated through three streams: (1) net interest income on originated and held mortgage loans, (2) loan processing/financing fees (e.g., 2.20% of loan amount plus minimum fees for Flat35), and (3) referral commissions from bank-agent and partner-lender products. Customer acquisition is split between direct applications through the website, eKYC-enabled remote processing, the branch network, and a growing alliance-partner channel of real estate agents and builders who refer borrowers. The MSJ Group also includes three wholly-owned subsidiaries—House G-Men (property inspection and housing defect insurance, the designated certifier for Flat35 properties), Housing Academia (housing-industry platform, education, and IT services), and the Housing Technology Council (housing technology research)—which together create a vertically integrated housing-finance ecosystem.

Name

Mortgage Service Japan

Legal name

日本モーゲージサービス株式会社

Website

https://m-s-j.jp

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

101–250 employees

Short description

Mortgage Service Japan (TSE: 7192) is a Tokyo-listed mortgage originator and Japan Housing Finance Agency agent that distributes Flat35 government-backed mortgages, proprietary variable-rate loans, reverse mortgages, and bank-agent products from Sony Bank and au Jibun Bank to individual home buyers and real estate developers across Japan through 42 branches.

Ownership category

akta.pro rank

NAICS

Real Estate Credit (522292), Nondepository Credit Intermediation (5222), Consumer Lending (522291)

SIC

Mortgage Bankers & Loan Correspondents (6162), Loan Brokers (6163)

akta.pro primary industry

Government-Sponsored Enterprises (GSEs) & Government Mortgage Liquidity Providers (FSALAKAC)

akta.pro secondary industries

Renovation Mortgage Origination (FHA 203(k), HomeStyle, CHOICERenovation) (FSALAAAL), Reverse Mortgage Technology & Compliance (LOS/CRM/HECM Calculators) (FSALAIAI), Residential Mortgage Brokerage (Purchase & Refinance) (FSAEAEAA)

Keywords

• Mortgage lending
• Home loan services
• Reverse mortgage
• Bank agency services
• Residential finance

Headquarters

HQ city

Shimbashi

HQ country

Japan

HQ region

Asia

Offices11 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Mortgage Interest Income: The company generates revenue primarily through interest income on mortgage loans. MSJ offers Flat35 products (government-backed long-term fixed rate mortgages), variable rate mortgages (Melody, Toiro), reverse mortgages (Re-Birth 60), and bridge loans. Interest rates vary by product, ranging from approximately 2% to 4% for primary mortgage products.
2. Loan Processing Fees: MSJ charges financing fees (融資手数料) for loan processing, which are calculated as a percentage of the loan amount plus fixed fees. For example, Flat35 products charge 2.20% of the loan amount with a minimum fee of 220,000 yen (tax inclusive).
3. Bank Agent Commissions (Sony Bank, au Jibun Bank): As a bank agent, MSJ earns commissions for referring customers to Sony Bank and au Jibun Bank mortgage products.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels4 records

Core offering

Mortgage Service Japan provides mortgage lending products and related services for individual home buyers in Japan. Its portfolio includes government-backed Flat35 mortgages (with variants for 100% financing, renovation, rate discounts, extended terms, and blended structures), variable-rate mortgages (MSJ Melody, MSJ Toiro), reverse mortgages for seniors (MSJ Re-Birth 60), resale loans, bridge loans, and bank agency services distributing Sony Bank and au Jibun Bank mortgage products. The company also offers MSJ FulFul Package and disaster recovery housing loan support.

Product overview

Mortgage Service Japan operates as a comprehensive mortgage lending platform offering a diversified portfolio of housing finance products centered around Flat35 mortgages (government-backed long-term fixed-rate loans) and proprietary mortgage products. The core product line includes MSJ Flat35 variants (guaranteed and purchase types, including MAX for 100% financing), MSJ Flat35 Reno for renovation-integrated purchases, MSJ Flat35S with interest rate discounts for quality homes, and MSJ Flat50 for extended 35-50 year terms. Supporting products include Melody (variable-rate mortgage with comprehensive insurance options), Re-Birth60 reverse mortgages for seniors, and various bridge loan products (Propa, Melody bridge, Toiro bridge, MSJ housing bridge). The company also offers bank agent services for Sony Bank and au Jibun Bank mortgages, Aplus supplementary loan products, and business-purpose resale loans for real estate companies. Rate discount programs include 子育てプラス (childcare support), 地域連携型 (regional support), 維持保全型 (maintenance), and reverse mortgage interest subsidy for seismic reinforcement.

Differentiator

Problem solved

Functional benefit

Brands

• MSJ Flat35: Primary flat mortgage product line offered in partnership with Japan Housing Finance Agency
• MSJ Flat35 MAX
• MSJ Mortgage Melody
• MSJ Re-Birth 60
• MSJ Flat50

Quantifiable outcome

• Maximum loan amount of 120 million yen per property (real estate developer resale loan: 300 million yen per company)
• +2 more outcomes

Segments2 records

Ideal customer profiles3 records

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Seven partnerships are on record, tiered core and major.

• Housing Finance Agency (住宅金融支援機構)coreStrategic or Co-development PartnerMSJ is an approved agent/seller for the Housing Finance Agency's Flat35 mortgage program. This is the core of MSJ's business, enabling the company to offer government-backed long-term fixed rate mortgages (Flat35, Flat50, Flat35 S, Flat35 Renovation, etc.) to customers across Japan.
• MG Guarantee Co., Ltd. (MG保証株式会社)coreTechnology or IntegrationMG Guarantee provides guarantee services for MSJ Melody mortgage products. Customers must obtain guarantee from MG Guarantee to access Melody loans.
• ZenkEN (全国保証株式会社)coreTechnology or IntegrationZenkEN provides guarantee services for MSJ Toiro mortgage products. Customers must obtain guarantee from ZenkEN to access Toiro loans.
• Sony Bank (ソニー銀行)majorChannel Partner/ Reseller/ DistributorMSJ operates as a bank agent (銀行代理業) for Sony Bank, offering Sony Bank mortgage products to customers through its branch network and website.
• au Jibun Bank (auじぶん銀行)majorChannel Partner/ Reseller/ DistributorMSJ operates as a bank agent (銀行代理業) for au Jibun Bank, offering au Jibun Bank mortgage products to customers through its branch network and website.
• APLUS (株式会社アプラス)majorChannel Partner/ Reseller/ DistributorMSJ partners with APLUS (Shinsei Bank Group) to offer the MSJ FulFul Package product - a supplementary loan for home purchase costs, renovation, and related expenses to be used alongside Flat35 mortgages. APLUS conducts its own credit review and is the actual lender.
• House G-Men Co., Ltd. (株式会社ハウスジーメン)coreStrategic or Co-development PartnerHouse G-Men is a group company providing property inspection, housing defect insurance, and certification services. They serve as the designated inspection and certification body for MSJ Flat35 products, ensuring properties meet quality standards.

Scale indicators5 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• SBI Sumishin Net Bank: Online bank offering competitive Flat35-equivalent and proprietary mortgage products with strong digital funnel; competes for the same self-employed and value-oriented home buyer segment that MSJ targets through Melody and Toiro.
• APLUS Co., Ltd. (Shinsei Financial Group): Shinsei Group consumer lender providing supplementary housing loans (e.g., MSJ FulFul Package) and other mortgage-adjacent credit; overlaps with MSJ on package loan products for self-employed and Flat35-adjacent borrowers.
• ARUHI Corporation: ARUHI is Japan's largest Flat35 originator and the dominant agency of the JHF program, directly competing with MSJ on Flat35 (guaranteed, purchase, MAX, Renovation), Flat50, and reverse mortgages through a nationwide branch network. Most direct comparable peer.
• JPN HYPO THE HOUSE LOAN PORTAL CENTER, LTD. Independent mortgage broker and Flat35 agency with multi-lender comparison; directly competes with MSJ in Flat35 origination through real estate partner referrals across Japan.

Broad incumbents

• au Jibun Bank: Digital bank with mortgage product line including Flat35; MSJ acts as bank agent for au Jibun Bank, making it simultaneously a partner and an alternative direct channel competing for the same customers.
• SMBC (Sumitomo Mitsui Banking Corporation): Major Japanese megabank offering a wide range of mortgage products including through housing loan channels; competes with MSJ for prime borrowers while also providing core banking services to MSJ.
• Sony Bank: Online-focused bank offering variable and fixed-rate mortgages through both direct digital channels and bank-agent networks (including MSJ); overlaps with MSJ's bank-agent offering and competes in the same self-employed/affluent borrower segment.
• MUFG Bank (Mitsubishi UFJ): Japan's largest megabank with a broad mortgage product set (variable, fixed, Flat35 as agency); competes for prime home-buyer volume but is listed as a transaction bank relationship for MSJ.

Emerging players

• iYell Co., Ltd. Japanese mortgage technology / lead-generation platform connecting home buyers with lenders; competes at the top of the funnel for MSJ's customer acquisition, particularly in the Flat35 / home loan comparison space.

Others

• House G-Men Co., Ltd. Wholly-owned MSJ Group subsidiary providing housing inspection, defect insurance and certification; supports Flat35 underwriting (designated inspection body) and is part of MSJ's vertical housing finance stack rather than a direct competitor.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mortgage Service Japan