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Earnings presentation materials8750Daiichi Life Group,Inc.Financials (excluding banks)

Daiichi Life Group,Inc. Fiscal Year Ending March 2027 Second-Quarter Financial Results Overview

Group adjusted profit for the six months ended September 2026 was ¥307.7 billion, up 33% year on year, representing 55% progress against the full-year forecast. Domestic operations drove profit growth, while new business value fell 15% year on year and the ESR declined by approximately 9 percentage points from the previous fiscal year-end.

Worth reading
69In focus
Scored from 5 of 6 sections
Direction
Mixed performance
Direction inferred from the company’s description.
Scale
767
¥100 million
Wording
Conditional
How definitive the wording is.

Contents of this document

Earnings presentation materialsSecond quarter of the fiscal year ending March 20277 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥58,044 100 million+13.0%
Ordinary income¥4,588 100 million+37.0%
Net income¥2,838 100 million+40.0%
Full-year earnings forecast
Consolidated ordinary revenues
¥106,660 100 million
Consolidated ordinary income
¥8,690 100 million
Consolidated net income
¥5,130 100 million
Group adjusted profit
5,600 Approximately ¥100 million
Group new business value
1,880 Approximately ¥100 million
Underlying profit
6,500 Approximately ¥100 million
Progress against full-year forecast　通期の予想に対して、いまどこまで進んだかの割合です。
Consolidated ordinary revenues54%
Consolidated ordinary income53%
Consolidated net income55%
Group adjusted profit55%
Group new business value48%
Underlying profit58%
Dai-ichi Life adjusted profit58%
Dai-ichi Frontier Life adjusted profit41%
PLC adjusted profit43%
Oceania adjusted profit43%
Asia and Other Overseas adjusted profit22%
Asset Management Business adjusted profit44%
Benefit One adjusted profit49%
DLRB adjusted profit86%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Domestic operations maintained strong performance and are progressing steadily against the full-year outlook
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
  • Domestic DL+¥57.7 billion
  • Domestic DFL+¥5.7 billion
  • Overseas PLC-¥800 million
  • Overseas TAL+¥6.0 billion
  • Overseas DLVN-¥1.4 billion
  • AMOne+¥600 million
  • CP+¥1.3 billion
  • Capula+¥1.3 billion
  • DMRE-¥0.7 billion
  • BO+¥1 billion
  • DLRB+¥10.8 billion
  • HD, etc.-¥3.9 billion
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
  • 157.35 Yen end of September 2026
    AssumptionUSD/JPY
  • 178.34 Yen end of September 2026
    AssumptionEUR/JPY
  • 109.96 Yen end of September 2026
    AssumptionAUD/JPY
  • 3.1 % end of September 2026
    AssumptionJapan 10-year interest rate
  • 4.1 % end of September 2026
    AssumptionJapan 30-year interest rate
New initiatives
  • M&G became an equity-method affiliate effective 3 September 2026
  • Continue the planned sale of domestic equities
  • Continue replacing yen-denominated fixed-income assets
Key KPIsA metric the company considers important as a management benchmark.
  • Adjusted ROE (annualized)12.9 %
  • Group ESR211 %
    Year on year against the same period last yearApproximately -9 percentage points from the previous fiscal year-end
  • Group embedded value¥10.1 trillion
    Year on year against the same period last year+5% from the previous fiscal year-end
  • Domestic equity sales¥5,200 100 million
  • Matching ratio87 %
    Year on year against the same period last yearFlat versus the end of March 2026
  • DL single-premium savings-type insurance surrenders¥500 100 million
Segment results
  • Domestic Business
    Profit¥2,302 100 million
    Year on year against the same period last year+¥63.3 billion
  • Overseas Business
    Profit¥672 100 million
    Year on year against the same period last year+¥2.9 billion
  • Asset management and new businesses
    Profit¥114 100 million
    Year on year against the same period last year+¥3.6 billion
  • HD and Other
    Profit¥-11 100 million
    Year on year against the same period last year+¥6.8 billion
Annual Dividend
Annual dividend per share72 Yen
Contents of this document
ItemDetails
Document typeEarnings presentation materials
Fiscal Period CoveredSecond quarter of the fiscal year ending March 2027
Net Sales¥58,044 100 million (YoY +13.0%)
Ordinary income¥4,588 100 million (YoY +37.0%)
Net income¥2,838 100 million (YoY +40.0%)
Full-year earnings forecastConsolidated ordinary revenues ¥106,660 100 million / Consolidated ordinary income ¥8,690 100 million / Consolidated net income ¥5,130 100 million / Group adjusted profit 5,600 Approximately ¥100 million / Group new business value 1,880 Approximately ¥100 million / Underlying profit 6,500 Approximately ¥100 million
Progress against full-year forecastConsolidated ordinary revenues 54% / Consolidated ordinary income 53% / Consolidated net income 55% / Group adjusted profit 55% / Group new business value 48% / Underlying profit 58% / Dai-ichi Life adjusted profit 58% / Dai-ichi Frontier Life adjusted profit 41% / PLC adjusted profit 43% / Oceania adjusted profit 43% / Asia and Other Overseas adjusted profit 22% / Asset Management Business adjusted profit 44% / Benefit One adjusted profit 49% / DLRB adjusted profit 86%
Self-assessment against the planDomestic operations maintained strong performance and are progressing steadily against the full-year outlook
Segment resultsSegment Domestic Business / Sales Not disclosed / Profit ¥2,302 100 million / Year on year against the same period last year +¥63.3 billion, Segment Overseas Business / Sales Not disclosed / Profit ¥672 100 million / Year on year against the same period last year +¥2.9 billion, Segment Asset management and new businesses / Sales Not disclosed / Profit ¥114 100 million / Year on year against the same period last year +¥3.6 billion, Segment HD and Other / Sales Not disclosed / Profit ¥-11 100 million / Year on year against the same period last year +¥6.8 billion
Breakdown of Factors Affecting the ChangeFactors Domestic DL / Amount +¥57.7 billion, Factors Domestic DFL / Amount +¥5.7 billion, Factors Overseas PLC / Amount -¥800 million, Factors Overseas TAL / Amount +¥6.0 billion, Factors Overseas DLVN / Amount -¥1.4 billion, Factors AMOne / Amount +¥600 million, Factors CP / Amount +¥1.3 billion, Factors Capula / Amount +¥1.3 billion, Factors DMRE / Amount -¥0.7 billion, Factors BO / Amount +¥1 billion, Factors DLRB / Amount +¥10.8 billion, Factors HD, etc. / Amount -¥3.9 billion
Key KPIsIndicator Adjusted ROE (annualized) / Value 12.9 % / Year on year against the same period last year Not disclosed, Indicator Group ESR / Value 211 % / Year on year against the same period last year Approximately -9 percentage points from the previous fiscal year-end, Indicator Group embedded value / Value ¥10.1 trillion / Year on year against the same period last year +5% from the previous fiscal year-end, Indicator Domestic equity sales / Value ¥5,200 100 million / Year on year against the same period last year Not disclosed, Indicator Matching ratio / Value 87 % / Year on year against the same period last year Flat versus the end of March 2026, Indicator DL single-premium savings-type insurance surrenders / Value ¥500 100 million / Year on year against the same period last year Not disclosed
Assumptions Underlying the Business OutlookAssumption USD/JPY / Value 157.35 Yen (end of September 2026), Assumption EUR/JPY / Value 178.34 Yen (end of September 2026), Assumption AUD/JPY / Value 109.96 Yen (end of September 2026), Assumption Japan 10-year interest rate / Value 3.1 % (end of September 2026), Assumption Japan 30-year interest rate / Value 4.1 % (end of September 2026)
Annual DividendAnnual dividend per share 72 Yen
New initiativesM&G became an equity-method affiliate effective 3 September 2026, Continue the planned sale of domestic equities, Continue replacing yen-denominated fixed-income assets
Items this document does not state (17)
Operating profitGross Profit MarginOperating profit marginSelling, general and administrative expensesResults for the three months of the current quarterUnit price and quantity metricsNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookMedium-term management plan targetsFinancial targetsPayout ratioAcquisition of treasury sharesCapital expendituresOrders received and order backlogMarket Size / ShareKey points of the Q&A

These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.

The reasons the company gives

The company's own explanation, not something inferred from the numbers.

Profit growth was driven by higher gains on sales of domestic equities, improved net investment spreads from the replacement of yen-denominated bonds and other factors, growth in AUM at Daiichi Frontier Life, improved underlying earnings power at TAL, and increased inflows in the asset management business. Overseas operations were negatively affected by the absence of the prior year's one-time gain related to the sale of an agency subsidiary, impairment of upfront fees in the bancassurance channel, and increased mass-lapse risk due to higher domestic interest rates.

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Daiichi Life Group,Inc. Fiscal Year Ending March 2027 Second-Quarter Financial Results Overview | Daiichi Life Group,Inc. (8750) timely disclosure | Komori