Re-connect 2023, revisits our approach to
stakeholders - to meet their expectations - based
on the achievements of the previous medium-term plan
and current management challenges.
Further, Re-connect 2023 strives for sustainable growth
through four key initiatives – Domestic Business Strategy,
Overseas Business Strategy,
Finance/Capital Management Strategy,
Sustainability & Business Foundation.
Recognition of Business Environment
In the previous medium-term management plan "CONNECT 2020" which aimed at the "strengthening of ties with all stakeholders", we achieved certain results in each business area. However, some ties have become segmented and changed as a result of the COVID-19 crisis, and people’s values and society are changing rapidly. In addition, the Group has discovered cases that caused a loss of trust of customers and society, leaving a major issue to be addressed. Based on this environment, in the new medium-term management plan "Re-connect 2023", we aim to meet the expectations of everyone by revisiting our approach to stakeholders and re-engaging.
- Address changes in needs and behavior
- Incorporate medical and digital tech
- Achieve true customer centricity
- Society and Environment
- Secure sustainability
- Be eco-friendly and combat climate change
- Achieve high capital efficiency
- Enhance shareholder payout
- Business Partners
- Expand insurance-related services from a customer perspective
- Seek collaboration to help resolve social issues
- Improve employee engagement and well-being
- Promote active participation of diverse talent
to meet their expectations and strives for sustainable growth.
New Vision of Dai-ichi Life Group
Dai-ichi Life Group has established a new Group Vision to aim for well-being by offering experiential values that we can deliver with confidence, namely peace of mind, prosperity and good health.
As a lifetime partner, we safeguard and contribute to the peace of mind, prosperity and wellness of all the people we serve.
Dai-ichi Life Group hopes to continue contributing to the well-being of all people into the future, regardless of generation, to enable them to lead healthy and prosperous lives with peace of mind. To this end, we will apply our collective strengths to creating four experiential values and ensuring local and societal sustainability through our business.
Our Ambition for "Re-connect 2023"
Four Key Initiatives of "Re-connect 2023"
- Domestic business model transformation and CX boost by leveraging four experiential values
- Structural reform of the sales representative channel and raise efficiency
- Increase profits in existing markets and further drive business
- Leverage DX to increase CX and further enhance operational efficiency
- Drastically improve capital efficiency by mainly reducing market related risks
- Strike a balance between disciplined capital allocation and strong shareholder payouts
- Drive initiatives for carbon neutral
- Group human capital strategy and group governance to support business foundation
KPIs of "Re-connect 2023"
The Group will shift the management values from quantity to quality.
As our most important issue, we will work on the realization of capital efficiency that stably surpasses capital costs.
Capital Efficiency (Accounting Profit)
Medium-Term (FY2023) Target Levelapprox.8％
Long-Term Direction (around FY2026)approx.9％
Capital Efficiency (Economic Value)
Medium- to Long-Term Target: approx.average 8％
Risk Profile Reform
Market Risk Reduction (Interest rate risk and equity risk vs March 31, 2021)
Medium-Term (FY2023) Target LevelRisk Reduction of
(equivalent to approx.20% of market risk as of March 31, 2021)
Long-Term Direction (around FY2026)Additional Risk Reduction of
(Total of approx. ¥820bn from March 31, 2021 to FY 2026)
Financial Soundness (Economic Value)
Economic Solvency Ratio (ESR)
Long-Term DirectionMaintain a stable level of
170％ to 200％ in the long-term
Reduction of sensitivity to financial market
Relative Total Shareholder Return (TSR)
Long-Term DirectionBuild a relative advantage in comparison with
10 domestic and overseas competitors
Medium-Term (FY2023) Target LevelExpected Range approx.
¥250bn to ¥280bn
Improve Customer Satisfaction
by FY 2026 for all above targetsNPS® for Dai-ichi Life:
Top Level in Japan
by FY 2026 for all above targetsTotal No. of Customers: approx.12mn
by FY 2026 for all above targetsReduction (Dai-ichi Life):
reduce by approx.¥30bn
by FY 2026 for all above targetsStrategic Personnel Shift: