T&D Holdings Inc Ord (TDHOF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

I'm Moriyama of T&D Holdings. Thank you very much for joining us at today's IR meeting. In my presentation, I will cover the achievements under the group's long-term vision to date and the direction of the next long-term vision starting next April. Please turn to page 4. The financial KPIs are generally progressing steadily. Adjusted ROE and group adjusted profit targets set under the group long-term vision were achieved in the previous fiscal year ahead of schedule. Furthermore, the four-year average ROEV through the previous fiscal year has exceeded the medium to long-term target of 7.5%. On the other hand, new business value did not reach the initial target of 200 billion yen. This is our challenge in our next group long-term vision. Please turn to page 5. Supporting these solid financial KPIs is the robust performance of the three life insurers. Each leverages its specialized business model tailored to its respective market, delivering strong new policy sales results and steadily expanding its in-force policies. The rising interest rates create an environment where the accumulation of enforced business can more readily lead to profit growth through the expansion of positive spread. We take pride in our robust policy performance as a major strength of our group. Phase turn to page 6. This page summarizes various capital management initiatives in a timeline format. Under the current group's long-term vision, we are significantly enhancing shareholder returns while executing investments in closed-book businesses which we position as growth investments. We are also enhancing efforts to reduce asset management risks and utilize reinsurances. Please proceed to page 7. Risk reduction measures resulted in a reduction of approximately 160 billion yen. Combined with solid ...