September 27, 2016 11:28 PM ET

Insurance

Company Overview of Meiji Yasuda Life Insurance Co., Ltd.

Company Overview

Meiji Yasuda Life Insurance Company provides various insurance services in the life insurance industry in Japan, rest of Asia, North America, Central and South America, Latin America and the Caribbean, and Europe. The company offers various other individual and group life insurance and annuity products; and a range of third-sector insurance products, including medical insurance and nursing care insurance. It also provides various non-life insurance products for corporate customers, including group accident insurance, director and officer insurance, and property damage liability insurance. In addition, the company is involved in the asset management business; investment advisory and agency bu...

1-1, Marunouchi 2-chome

Chiyoda-ku

Tokyo,  100-0005

Japan

Founded in 1881

Phone:

81 3 3283 8293

Fax:

81 3 3215 8123

Key Executives for Meiji Yasuda Life Insurance Co., Ltd.

President, Representative Executive Officer, Executive Director, Member of Nominating Committee and Member of Compensation Committee
Age: 58
Chairman, Representative Executive Officer, Member of Nominating Committee and Member of Compensation Committee
Age: 61
Chief Executive of Individual Insurance Marketing and Senior Managing Executive Officer
Age: 55
Chief Executive of Investment and Senior Managing Managing Executive Officer
Chief Executive of Group Marketing and Managing Executive Officer
Compensation as of Fiscal Year 2016.

Meiji Yasuda Life Insurance Co., Ltd. Key Developments

Meiji Yasuda Life Insurance Company Announces Unaudited Consolidated Earnings Results for the First Quarter Ended June 30, 2016; Announces Impairment Losses for the First Quarter Ended June 30, 2016

Meiji Yasuda Life Insurance Company announced unaudited consolidated earnings results for the first quarter ended June 30, 2016. For the quarter, the company announced ordinary income of JPY 981,487 million against JPY 1,216,221 million a year ago. Ordinary loss was JPY 66,679 million against ordinary profit of JPY 62,781 million a year ago. Surplus before income taxes and non-controlling interests was JPY 39,676 million against JPY 57,409 million a year ago. Net surplus attributable to the parent company was JPY 35,070 million against JPY 51,043 million a year ago. Core profit tumbled by 24.1% to JPY 87.7 billion. Insurance premium revenue fell by 20.6% to JPY 777.4 billion. For the quarter, the company reported impairment losses of JPY 354 million against JPY 329 million a year ago.

Meiji Yasuda Life Insurance Co., Ltd. Announces Unaudited Consolidated Earnings Results for the Full Year Ended March 31, 2016

Meiji Yasuda Life Insurance Co., Ltd. announced unaudited consolidated earnings results for the full year ended March 31, 2016. For the year, the company announced ordinary income of JPY 4,276,540 million against JPY 4,599,843 million a year ago. Insurance premiums and other income was JPY 3,381,621 million against JPY 3,431,497 million a year ago. Ordinary profit was JPY 299,107 million against JPY 386,468 million a year ago. Surplus before income taxes and non-controlling interests was JPY 261,561 million against JPY 364,312 million a year ago. Net surplus was JPY 214,627 million against JPY 265,747 million a year ago. Net surplus attributable to the Parent Company was JPY 214,099 million or JPY 117.41 per share against JPY 265,402 million or JPY 242.64 per share a year ago. Net cash provided by operating activities was JPY 1,013,259 million against JPY 581,329 million a year ago. Purchase of tangible fixed assets was JPY 11,852 million compared to JPY 15,281 million for the same period a year ago. Purchases of intangible fixed assets was JPY 22,397 million compared to JPY 18,509 million for the same period a year ago.

Meiji Yasuda Seeks Investment In Foreign Stocks

Meiji Yasuda Life Insurance Co., Ltd. plans to buy more foreign bonds and stocks in the fiscal year started in April 2016 as Japanese government bond yields remain depressed, an investment officer said. Meiji Yasuda, said it added ¥320 billion worth of foreign currency-denominated debt to its portfolio in the fiscal year ended in March 2016. "We can hardly buy Japanese government bonds at their current levels," said Toshihiko Yamashita, Chief Executive Officer of the firm's investment division. Yamashita said the insurer plans to invest about 60% of the ¥1 trillion in new funds available in domestic and foreign debt and allocate the rest to local and foreign stocks, and other riskier assets.

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