UNOFFICIAL TRANSLATION
Although the Company pays close attention to provide English translation of the information disclosed in Japanese, the Japanese original prevails over its
English translation in the case of any discrepancy.
May 14, 2021
JAPAN POST INSURANCE Co., Ltd.
Summary of Financial Results for the Fiscal Year Ended March 31, 2021
(1) Policies
Fiscal Year Ended March 31, 2020 Six Months Ended September 30, 2020 Fiscal Year Ended March 31, 2021
Increase (Decrease) as | Increase (Decrease) as | Increase (Decrease) as |
% of | % of | % of |
Fiscal Year Ended | Six Months Ended | Fiscal Year Ended |
March 31, 2019 | September 30, 2019 | March 31, 2020 |
(Millions of yen)
Of which, medical coverage, living benefits and others
(Millions of yen) | 22,132 | (64.1) | 688 | (96.7) | 1,459 | (93.4) |
Of which, medical coverage, living benefits and others
Insurance premiums and others
Of which, individual insurance sector Of which, group insurance sector
Policy amount of policies in force Policy amount of surrenders and lapses
(Millions of yen)
(Millions of yen)
(Millions of yen)
(Millions of yen)
(Millions of yen)
(Millions of yen)
(Millions of yen)
3,556,673 | (6.8) | 3,364,298 | (10.3) | 3,197,252 | (10.1) |
393,881 | (4.1) | 377,924 | (8.5) | 364,682 | (7.4) |
3,245,541 | (18.0) | 1,417,826 | (21.3) | 2,697,936 | (16.9) |
2,767,826 | (17.5) | 1,217,781 | (21.4) | 2,315,087 | (16.4) |
－ | － | － | － | － | － |
51,846,228 | (6.3) | 49,598,827 | (8.8) | 47,476,095 | (8.4) |
2,488,350 | (3.8) | 650,454 | (48.5) | 1,382,218 | (44.5) |
- Figures represent those for sums of individual insurance and individual annuities excluding figures of insurance premiums and others.
* Policy amount of surrenders and lapses are not offset by the amounts of lapses which are reinstated.
* Insurance premiums and others from individual insurance sector are the total of premiums from individual insurance and individual annuities; insurance premiums and others from group insurance sector are the total of premiums from group insurance and group annuities.
- Figures of annualized premiums represent the sum of those of individual insurance and individual annuities. Annualized premiums are calculated by multiplying the amount of a single premium installment payment by a multiplier determined according to the relevant payment method to arrive at a single annualized amount. (For lump-sum payments, annualized premiums are calculated by dividing the total premium by the insured period.)
- Assets (Consolidated Basis)
Increase (Decrease) as | Increase (Decrease) as | |
% of | % of | |
March 31, | 2019 | September 30, 2019 |
Real net assets | (Millions of yen) | 71,664,781 | (3.0) | 70,397,285 | (3.6) | |
(Billions of yen) | 12,350.9 | (8.8) | 12,417.2 | (12.5) | ||
Solvency margin ratio | (%) | 1,070.9 | 1,138.0 | |||
(3) Core profit, Positive spread and Investment yield | Fiscal Year Ended March 31, 2020 Fiscal Year Ended March 31, 2021 | |||||
Increase (Decrease) as | Increase (Decrease) as | |||||
% of | % of | |||||
Fiscal Year Ended | Fiscal Year Ended | |||||
March 31, 2019 | March 31, 2020 | |||||
Core profit | (Millions of yen) | 400,609 | 6.2 | 421,943 | 5.3 | |
Fiscal Year Ended March 31, 2020 Fiscal Year Ended March 31, 2021 | ||||||
Increase (Decrease) | Increase (Decrease) | |||||
compared to | compared to | |||||
Fiscal Year Ended | Fiscal Year Ended | |||||
March 31, 2019 | March 31, 2020 | |||||
Positive spread | (Billions of yen) | 80.4 | 22.0 | 76.3 | (4.1) | |
Fiscal Year Ended March 31, | Fiscal Year Ended March 31, | |||||
2020 | 2021 | |||||
Investment return on core profit | (%) | 1.82 | 1.82 | |||
Investment yield (General account) | (%) | 1.41 | 1.51 | |||
Average assumed rates of return | (%) | 1.69 | 1.69 | |||
(4) Breakdown of core profit | Fiscal Year Ended March 31, 2020 Fiscal Year Ended March 31, 2021 | |||||
Increase (Decrease) | Increase (Decrease) | |||||
compared to | compared to | |||||
Fiscal Year Ended | Fiscal Year Ended | |||||
March 31, 2019 | March 31, 2020 | |||||
(Millions of yen) | 80,466 | 22,005 | 76,330 | (4,135) | ||
Core profit attributable to life insurance | (Millions of yen) | 320,142 | 1,426 | 345,612 | 25,469 | |
activities | ||||||
Increase (Decrease) as
% of
March 31, 2020
70,172,982 (2.1)
12,081.7 (2.2)
1,121.2
Forecast for the Fiscal Year
Ending March 31, 2022
To be decreased
Forecast for the Fiscal Year
Ending March 31, 2022
To be almost flat
Forecast for the Fiscal Year
Ending March 31, 2022 To be almost flat To be almost flat To be almost flat
(5) Reserves
(excluding contingency reserve) | (Millions of yen) |
Reserve for price fluctuations | (Millions of yen) |
Contingency reserve | (Millions of yen) |
Contingency funds | |
(Millions of yen) | |
Fund for price fluctuation allowance | (Millions of yen) |
(6) Unrealized gains (losses) |
Securities | (Millions of yen) |
Domestic stocks | |
(Millions of yen) | |
Domestic bonds | |
(Millions of yen) | |
Foreign securities | (Millions of yen) |
Real estate | |
(Millions of yen) |
- Securities invested as money held in trust are included.
- The Company does not hold real estate.
- Non-consolidatedresults of Japan Post Insurance are listed.
- Investment results
Domestic stocks | (Millions of yen) |
Domestic bonds | (Millions of yen) |
Foreign stocks and others | |
(Millions of yen) | |
Foreign bonds | (Millions of yen) |
Real estate | |
(Millions of yen) | |
- Securities invested as money held in trust are included.
- Non-consolidatedresults of Japan Post Insurance are listed.
- Break-evenlevels
TOPIX | (Yen) |
(Point) | |
Domestic bonds | (%) |
Foreign securities | (Yen) |
Increase (Decrease) | Increase (Decrease) | Increase (Decrease) | |||
compared to | compared to | compared to | |||
March 31, 2019 | September 30, 2019 | March 31, 2020 | |||
60,495,799 | (2,601,994) | 59,100,820 | (2,869,915) | 57,786,377 | (2,709,422) |
858,339 | (39,152) | 830,900 | (40,954) | 904,816 | 46,477 |
1,797,366 | (165,388) | 1,802,661 | (77,786) | 1,611,343 | (186,023) |
－ | － | － | － | － | － |
－ | － | － | － | － | － |
As of March 31, 2020 | As of September 30, 2020 | As of March 31, 2021 | |||
Increase (Decrease) | Increase (Decrease) | Increase (Decrease) | |||
compared to | compared to | compared to | |||
March 31, 2019 | September 30, 2019 | March 31, 2020 | |||
7,586,866 | (921,596) | 7,639,862 | (1,703,649) | 7,387,246 | (199,620) |
55,159 | (225,280) | 399,883 | 121,187 | 759,966 | 704,806 |
7,263,044 | (680,128) | 6,651,677 | (1,906,384) | 5,995,967 | (1,267,076) |
400,455 | 125,186 | 547,753 | 120,474 | 568,920 | 168,465 |
－ | － | － | － | － | － |
Actual results for the Fiscal Year Ended March 31, 2021 749,099 (690,059)
482,714
(42,351)
-
As of March 31, 2021 20,400 1,350
1.1
70
- The break-even level for stocks is calculated based on valuation method of stocks fully linked to Nikkei Average and TOPIX.
* The break-even level for domestic bonds is translated into a newly-issued10-year JGB yield and rounded to one decimal place. * The break-even level for foreign securities is calculated based on the JPY/USD exchange rate.
(9) Outlook for the Fiscal Year Ending March 31, 2022
Forecast for the Fiscal Year | |
Ending March 31, 2022 | |
Insurance premiums and others | To be almost flat |
(10) Number of employees
As of March 31, 2020 | As of September 30, 2020 | As of March 31, 2021 |
Sales personnel Office personnel
(Number of
persons)
(Number of
persons)
Increase (Decrease) as | Increase (Decrease) as | Increase (Decrease) as | |||||
% of | % of | % of | |||||
March 31, | 2019 | September 30, 2019 | March 31, | 2020 | |||
1,104 | (4.3) | 1,206 | 4.1 | 1,142 | 3.4 | ||
6,534 | 1.1 | 6,630 | (1.3) | 6,503 | (0.5) |
(11) Policyholder dividends (Provision for reserve for policyholder dividends)
Fiscal Year Ended March 31, 2020 Fiscal Year Ended March 31, 2021
Individual insurance/Individual annuities Others
- Bancassurance sales None
(Millions of yen)
(Millions of yen)
Increase (Decrease) as | Increase (Decrease) as | ||
% of | % of | ||
Fiscal Year Ended | Fiscal Year Ended | ||
March 31, 2019 | March 31, 2020 | ||
15,460 | (21.5) | 18,754 | 21.3 |
93,775 | 1.8 | 46,710 | (50.2) |
Appendix
Other Question Items (Fiscal Year Ended March 31, 2021)
- Provision for (reversal of) general account policy reserves associated with minimum guarantee for variable annuities, etc. None