Financial Results Overview
Ordinary revenues of Dai-ichi Life Holdings, Inc. (hereinafter the "Company" or the "Parent Company") and its consolidated subsidiaries (collectively, the "Group") for the three months ended June 30, 2025 decreased by ¥701.1 billion, or 23.4%, to ¥2,294.0 billion, consisting of (1) ¥1,588.4 billion (13.1% decrease) of premium and other income, (2) ¥579.8 billion (43.0% decrease) of investment income, and (3) ¥125.7 billion (16.2% decrease) of other ordinary revenues, compared to the three months ended June 30, 2024. Ordinary revenues decreased due mainly to the decrease in investment income at The Dai-ichi Frontier Life Insurance Co., Ltd, and Protective Life Corporation. Meanwhile, the Group's ordinary expenses for the three months ended June 30, 2025 decreased by 21.1%, to ¥2,198.0 billion, consisting of (1) ¥1,397.9 billion (19.9% decrease) of benefits and claims, (2) ¥214.6 billion (60.4% decrease) of provision for policy reserves and others, (3) ¥253.8 billion (48.1% increase) of investment expenses, (4) ¥240.8 billion (2.7% decrease) of operating expenses, and (5) ¥90.7 billion (14.2% increase) of other ordinary expenses, compared to the three months ended June 30, 2024. Ordinary expenses decreased due mainly to the decrease in benefits and claims, and provision for policy reserves and others at The Dai-ichi Frontier Life Insurance Co., Ltd. Consequently, the Group's ordinary profit for the three months ended June 30, 2025, compared to the three months ended June 30, 2024, decreased by ¥112.4 billion or 53.9%, to ¥96.0 billion. Its net income attributable to shareholders of parent company for the three months, which is ordinary profit after extraordinary gains and losses, provision for reserve for policyholder dividends, and total of corporate income taxes, decreased by 68.1%, to ¥43.1 billion. The decrease in net income attributable to shareholders of the parent company is mainly due to the decrease in net income attributable to shareholders of the parent company at The Dai-ichi Life Insurance Company, Limited.
Financial Position Overview
The Group's total assets as of June 30, 2025, compared to March 31, 2025, decreased by 1.4%, to ¥68,588.6 billion, mainly consisting of ¥52,577.6 billion (0.9% decrease) of securities, ¥4,971.5 billion (3.1% decrease) of loans, ¥1,284.0 billion (0.9% increase) of tangible fixed assets, and ¥1,874.9 billion (8.5% decrease) of reinsurance receivable. The Group's total liabilities as of June 30, 2025 decreased by 1.7% to ¥65,007.2 billion, mainly consisting of ¥58,525.0 billion (1.8% decrease) of policy reserves and others, compared to March 31, 2025. The Group's total net assets as of June 30, 2025 increased by 3.2% to ¥3,581.4 billion. Net unrealized gains on securities, net of tax, as of June 30, 2025, which are included in the Group's total net assets, increased by 20.2% to ¥1,267.2 billion.
Future Outlook
The consolidated earning forecast for FY2025 has not been changed from the released earning forecast on May 15, 2025.
Consolidated Earnings Forecast for the Fiscal Year Ending March 31, 2026
(% represents the change from the previous fiscal year)
| Period | Ordinary Revenues | Ordinary Profit | Net Income Attributable to Shareholders of Parent Company | Net Income per Share | |||
|---|---|---|---|---|---|---|---|
| Fiscal Year ending March 31, 2026 |
million yen 9,162,000 |
% -7.2 |
million yen 617,000 |
% -14.2 |
million yen 347,000 |
% -19.2 |
yen 94.65 |
- (Note) The Company has conducted a stock split whereby one share of common stock will be split into four shares effective April 1, 2025. The net income per share in the consolidated financial forecasts for the fiscal year ending March 2026 takes into account the impact of this stock split.