NS Group

What NS Group does

NS Group Co., Ltd. (NSグループ株式会社) is a Japan-listed holding company that provides rental guarantee services for residential and commercial real estate. The group operates primarily through its wholly-owned subsidiary Nihon Safety Co., Ltd. (日本セーフティー株式会社), founded in February 1997 and recognized as a 29-year pioneer in the rental guarantee category. NS Group acts as a co-guarantor (連帯保証人) in real estate rental contracts, enabling tenants to lease properties without arranging a personal guarantor while providing landlords with guaranteed rent payments. The company distributes these services through a nationwide partner store network of approximately 71,500 stores, with no proprietary technology platform disclosed beyond standard Google Analytics usage on its corporate website.

The business is structured around two product lines: a residential rental guarantee business (居住用保証事業) targeting individual tenants and landlords, and a business/commercial rental guarantee business (事業用保証事業) covering commercial properties. Customer demand is driven by structural Japanese demographic shifts — an aging population, rising single-person households, and an increasing foreign-resident base — all of which reduce the pool of available personal guarantors and expand the addressable market for institutional guarantee services. The rental guarantee fee model produces recurring, contract-linked revenue across approximately 339,000 active contracts as of FY2025.

NS Group was established as the parent entity in August 2021 and listed on the Tokyo Stock Exchange Prime Market (ticker 471A) on December 16, 2025, with JPMorgan initiating coverage at Overweight (JPY 1,800 target). Revenue grew from 263 billion yen (FY2024) to 298 billion yen (FY2025), with management targeting approximately 365 billion yen by FY2027. In July 2026, the group announced a merger with Alpha Co., a southern Kyushu-focused rental guarantee firm, expanding the combined partner store footprint to approximately 71,500 stores nationwide. The largest shareholder is BV Asset Co., Ltd. at 45.0%, with the broader shareholder base totaling 22,155 shareholders as of December 31, 2025.

Name

NS Group

Legal name

NSグループ株式会社

Website

https://nsg-inc.co.jp

Company type

Public

Founded year

2021

Operating status

Operating

Headcount range

501–1,000 employees

Short description

NS Group is a Tokyo Prime Market-listed Japanese holding company providing rental guarantee services as a co-guarantor for residential and commercial real estate leases through its subsidiary Nihon Safety Co., serving landlords, tenants, and a nationwide partner network of approximately 71,500 stores.

Ownership category

akta.pro rank

Product category

Rental Guarantee Services

NAICS

Insurance Carriers and Related Activities (524)

SIC

Insurance Carriers, Nec (6399)

akta.pro primary industry

Guarantor/Co-Signer Consumer Loans (FSAKAOAI)

akta.pro secondary industry

Residential Lease Administration & Tenant Services (BPAJAFAL)

Keywords

• Rental guarantee services
• Rent collection services
• Property guarantee
• Real estate guarantee
• Tenant guarantee

Headquarters

HQ city

Osaka

HQ country

Japan

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. 家賃債務保証サービス (Rental Guarantee Service): NS Group operates its primary business through subsidiary 日本セーフティー株式会社, providing rental guarantee services. The company acts as a co-guarantor (連帯保証人) in real estate rental contracts. Renters pay a guarantee fee for the service, while property owners receive guaranteed rent payments. The company serves both residential and commercial rental segments.

Go-to-market motion1 record

Distribution channels1 record

Core offering

NS Group, through its wholly-owned subsidiary Nihon Safety Co., Ltd. (日本セーフティー株式会社), provides rent guarantee (rental debt guarantee) services as a substitute for personal guarantors in real estate rental contracts. The company acts as a co-guarantor (連帯保証人), enabling tenants to rent properties without a personal guarantor while guaranteeing rent payments to property owners. Operations cover residential rental guarantees and commercial/business rental guarantees, distributed through a nationwide network of approximately 71,500 partner stores in Japan.

Product overview

NS Group is a rent guarantee service provider consisting of a parent company (NS Group Inc., established August 2021) and its 100% subsidiary Nihon Safety Co., Ltd. (established February 1997). The company operates two main product lines: (1) Residential Guarantee Services (住居用保証事業) for housing rentals, and (2) Business Rental Guarantee Services (事業用保証事業) for commercial properties. The core offering is the rent guarantee service (家賃債務保証サービス), which acts as a co-guarantor for real estate rental contracts, enabling tenants to rent without a personal guarantor while providing landlords with guaranteed rent payments. The company went public on the Tokyo Stock Exchange Prime Market on December 16, 2025.

Differentiator

Problem solved

Functional benefit

Products and services

• Rent Guarantee Service (家賃債務保証サービス) Co-guarantor rental debt guarantee service for real estate rental contracts. Enables tenants to rent properties without needing a personal guarantor and provides landlords with guaranteed rent payments. Covers both residential and commercial rental segments.
• Residential Guarantee Business (住宅用保証事業) Rent guarantee services for residential rental properties, targeting individual tenants who lack personal guarantors (single-person households, elderly, and foreign residents) and landlords seeking guaranteed rent payments.
• Business Rental Guarantee Business (事業用保証事業) Rent guarantee services for commercial and business rental properties, offering flexible product design that differentiates from competitors. Addresses post-COVID economic changes affecting deposit availability and landlord demand for deposit protection.

Quantifiable outcome

• Revenue of 298 billion yen in 2025 (up from 263 billion yen in 2024)
• +1 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core and minor.

• Alpha Co. (アルファ株式会社)coreStrategic or Co-development Partner · 17 July 2026Alpha Co. and NS Group signed a merger agreement on July 17, 2026, in Kagoshima City, facilitated by M&A Capital Partners. Alpha Co., founded in 2004 and focused on the southern Kyushu region, joins NS Group (a 29-year industry leader listed on Tokyo Prime Market). The combined entity has approximately 71,500 partner stores nationwide. The transaction enables NS Group to expand its regional footprint while Alpha gains access to a nationwide partner network.
• 三井住友信託銀行株式会社 (Sumitomo Mitsui Trust Bank)minorOthersShareholder administrator (株主名簿管理人) for NS Group. Handles shareholder registry management and related administrative services.
• 日本国際ボランティアセンター（JVC）minorOthersJapanese International Volunteer Center. NS Group donates used stamps collected from documents received from across Japan through JVC to support global aid activities. Donation weight: 685g in 2025 (started September 2025).

Scale indicators5 records

Recent moves7 records

Expansion highlights5 records

Regional players

• TheGuarantors: US-based rent guarantee insurance provider offering similar co-signer replacement products for landlords; comparable business model and use case but operating in a different geography, useful for cross-market benchmarking.

Broad incumbents

• Assurant Inc. Global specialty insurance carrier with rental and specialty risk products including renter insurance and creditor-related coverages; relevant as a broader financial guarantor and risk-bearing incumbent in adjacent rental-adjacent insurance lines.
• LIFULL Co., Ltd. Major Japanese real estate portal operator (HOME'S) with adjacent financial services offerings; broader platform but addresses the same landlord-tenant ecosystem where NS Group's rent guarantee product is distributed.
• GA Technologies Co., Ltd. Tokyo-listed proptech platform providing real estate brokerage, renovation, and adjacent services; broader scope than NS Group but serves overlapping landlord/tenant customer segments in the Japanese rental ecosystem.

Direct peers

• Casa Inc. Real estate company offering rent guarantee and brokerage services in Japan; overlapping customer base of landlords and tenants and similar reliance on partner agencies for distribution, making it a relevant comparable.
• イントラスト (Intrust Co., Ltd.): Tokyo Stock Exchange-listed (ticker 7191) direct competitor in Japan's rent guarantee market, providing rent debt guarantee services to landlords and tenants across residential and commercial segments; the most direct head-to-head comparison for NS Group's core business.
• 日本保証 (Nihon Hosho Co., Ltd.): One of Japan's established rent guarantee companies operating a similar co-guarantor model across residential and commercial rentals; directly comparable business model, customer base, and regulatory framework to NS Group.

Emerging players

• いえらぶ (eLife Co., Ltd.): Japanese real estate tech platform serving rental agencies with SaaS and operational tools, including tenancy support features; intersects with NS Group's distribution channel through shared partner agencies.

Market position

Strengths1 record

Weaknesses1 record

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

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

M&A1 record

Investments

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

Frequently asked questions about NS Group