Status of Profit and Loss
Ordinary Profit/Profit Attributable to Owners of Parent (Consolidated)
Ordinary profit decreased ¥14.2 billion year on year to ¥157.2 billion, mainly due to an increase in losses from derivatives, net.
Profit attributable to owners of parent increased ¥2.6 billion year on year to ¥75.1 billion. This increase was mainly due to a decrease in total income taxes owing to the impact of tax effects and other factors.
Core Profit
Core profit for the three life insurance companies increased ¥6.8 billion year on year to ¥159.9 billion.
Core profit of Taiyo Life decreased by ¥0.3 billion to ¥53.4 billion while that of Daido Life increased by ¥0.8 billion to ¥105.6 billion. The main factor decreasing core profit was the decrease in interest, dividends and income from real estate for rent, while the main factors increasing core profit included the decrease in provision for reserve for employees’ retirement benefits. With these factors mostly cancelling each other out, core profit for both Taiyo Life and Daido Life were mostly unchanged year on year.
Core profit of T&D Financial Life was ¥0.8 billion, turning positive following an increase of ¥6.3 billion from the previous fiscal year. This was mainly due to an increase in the reversal of policy reserves related to accumulation-rate type whole life insurance in line with the rise in domestic interest rates.
Positive spread for the three life insurance companies decreased by ¥10.3 billion year on year to ¥29.8 billion.
Fiscal 2017 Earnings Forecasts
Ordinary profit is projected to decrease by 4.6% to ¥150.0 billion, mainly based on an anticipated decline in interest, dividends and income from real estate for rent. Profit attributable to owners of parent is projected to decline by 1.6% to ¥74.0 billion. Further, considering the decline in provisions of additional reserves in excess of the legal standard requirements for the reserve for price fluctuations, adjusted net income, which represents profit available for shareholder returns, is forecast to decrease 13.9% to ¥79.0 billion.
Ordinary Profit
Profit Attributable to Owners of Parent
Core Profit
Fiscal 2017 Full-year Earnings Forecasts (Consolidated)
- *1 Profit attributable to owners of parent
- *2 Figures are disclosed for reference.
Fiscal 2017 Full-year Earnings Forecasts (Three Life Insurance Companies)
- *1 A performance indicator of Taiyo Life, which is the sum of the protection portion of the annualized premiums of policies, mainly excluding savings-type products.
- *2 New policy amount and policy amount in force are the sum of individual insurance and annuities. New policy amount includes net increase from conversions.
For Daido Life, new policy amount and policy amount in force in the above table includes J-type product, T-type product and Kaigo Relief.
