Ordinary Revenues by Segment
1. Domestic Insurance Business
Ordinary revenues in the domestic insurance business decreased by ¥699.0 billion compared to the previous consolidated fiscal year, to ¥8,838.0 billion (a 8.0% decrease YoY), primarily due to a decrease in premium income at The Dai-ichi Frontier Life Insurance Co., Ltd. as sales volume leveled off due to the impact of lower overseas interest rates. Segment profit increased by ¥177.5 billion compared to the previous consolidated fiscal year, reaching ¥584.5 billion (a 43.6% increase YoY), primarily due to an increase in interest and dividend income supported by rising interest rates and favorable financial market conditions at The Dai-ichi Life Insurance Company, Limited.
2. Overseas Insurance Business
Ordinary revenues in the overseas insurance business increased by ¥519.2 billion compared to the previous consolidated fiscal year, reaching ¥3,669.0 billion (a 16.5% increase YoY), primarily due to an increase in asset management income driven by factors such as the yen's depreciation against major currencies and favorable financial market conditions, which led to higher interest and dividend income. Segment profit in Protective Life Corporation segment increased by ¥55.7 billion compared to the previous consolidated fiscal year, reaching ¥183.1 billion (a 43.7% increase YoY), primarily due to the absence of bond valuation losses and losses related to the bankruptcy of U.S. financial institutions that were recognized in the previous consolidated fiscal year.
3. Other Business
Ordinary income In other businesses increased by ¥103.6 billion compared to the previous consolidated fiscal year, reaching ¥330.5 billion (a 45.7% increase YoY), primarily due to increased dividend income from group companies such as The Dai-ichi Life Insurance Company, Limited, and TAL Dai-ichi Life Australia Pty Ltd, as well as the contribution to earnings from Benefit One Inc., which became a subsidiary in the current consolidated fiscal year. Segment profit increased by ¥21.7 billion compared to the previous consolidated fiscal year, reaching ¥221.0 billion (a 10.9% increase YoY).