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Dai-ichi Life's Fiscal 2025 Profit Slides on One-Off Accounting Revision

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Dai-ichi Life's Fiscal 2025 Profit Slides on One-Off Accounting Revision

Dai-ichi Life's (TYO:8750) attributable profit fell in fiscal 2025 on the one-off impact of new accounting standards in the U.S. by unit Protective Life.

The Japanese insurance group logged an attributable profit of 436.6 billion yen in the fiscal year ended March 31, 2026, down 4.8% from 458.4 billion yen a year earlier.

Diluted net income per share slipped to 119.82 yen from 123.70 yen a year earlier.

U.S. unit Protective Life adopted the Financial Accounting Standards Board's (FASB) Long-Duration Targeted Improvements, resulting in a one-off impact of 53.1 billion yen.

The insurer's ordinary revenue increased 15% to 11.3 trillion yen from 9.877 trillion yen in the prior-year period.

Premiums and other income grew 2.1% year over year to 6.944 trillion yen due to higher sales at the Dai-ichi Frontier Life Insurance business.

Investment income surged 48% to 3.735 trillion yen, and other ordinary revenue jumped 15% to 628.8 billion yen.

Ordinary expenses jumped 16% to 10.6 billion yen, with policy reserves surging 431% to 1.815 trillion yen.

Benefits and claims slipped 2% year over year to 6.447 trillion yen.

The insurer will pay out a final dividend of 30.50 yen per share, making the total dividend payout for fiscal 2025 54.50 yen, lower than the 137 yen per share paid out in the previous fiscal year.

For the fiscal year through March 31, 2027, attributable profit could rise 18% to 513 billion yen, or 142.46 yen per share, in line with its 4-for-1 stock split completed in April 2025.

Revenue may slide 5.7% to 10.7 trillion yen, while ordinary profit could jump 15% to 869 billion yen.

The insurer could pay a dividend of 72 yen in fiscal 2026.

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