Thank you for your continuous support of The Dai-ichi Life Insurance Company, Limited. On May 15, 2012, we announced our financial results for the fiscal year ended March 31, 2012 and operational plan for the fiscal year ending March 31, 2013, under the current medium-term management plan.
Financial Results for the Fiscal Year Ended March 31, 2012
Under our current medium-term management plan "Success 110" focusing on "Achieving Recovery and Growth", in addition to placing top priority on its security function as a life insurer for the customers affected by the Great East Japan Earthquake, the Dai-ichi Life Group has implemented action plans for its sustainable growth. In the domestic market, due to our efforts to promote consulting sales under the "New Total Life Plan" strategies and the introduction of new products in the third sector and personal saving areas, the group steadily maintained its sales performance and increased its premium and other income. The group has also improved the quality of policies and reduced its fixed costs. Our overseas businesses in countries already entered have grown their sales and contributed to the group's profitability. Also, we have acquired a permit for pre-operation of a joint venture life insurance company in China. The group has continuously strived to enhance its capital level through reducing risk assets, etc. As a result of those initiatives, Dai-ichi Life Group's embedded value, a corporate value indicator for a life insurance company, as of March 31, 2012 increased by 221.2 billion yen to 2,661.5 billion yen, compared to March 31, 2011. Compared to the prior fiscal year, our consolidated ordinary revenues for the fiscal year ended March 31, 2012 increased by 7.9% to 4,931.7 billion yen; ordinary profit increased by 178.2% to 225.9 billion yen; and net income increased by 6.4% to 20.3 billion yen.
Initiatives for the Fiscal Year Ending March 31, 2013
As the fiscal year ending March 31, 2013 represents the final year of the current medium-term management plan and a milestone of the 110th anniversary of the Company's foundation, while striving for the recovery, we will step up to a higher growth stage. By implementing action plans under the following five fundamental strategies, we will make efforts to produce visible results for sustainable growth, such as the achievement of long-term growth in the domestic and overseas markets, further improvement in efficiency and sophistication of corporate value management.
《Fundamental Strategies under the current medium-term management plan》
- Fulfillment of Security Function, Recovery and Renewal
- Acceleration of Business Development for Growth
- Enforcement of Financial Base and Implementation of Disciplined Capital Strategies to Support Growth Strategies
- Establishment of Internal System for Next Level Group Management
- Promotion of Dai-ichi's Social Responsibility (DSR*1) to Improve Corporate Value
Additionally, the Company established the "Group Management Headquarters", the organization which undertakes the next level group management. We believe the Group Management Headquarters is the best organizational structure at this moment to accelerate future growth and enhance group management with efficiency and speed, managing the Group operations virtually with the functions of a holding company and leveraging the current organizational resources.
Under the novel group management structure, we will strive to establish multiple business lines through domestic and cross-border M&A, enhance our group management functions and develop internal business infrastructure, promote group "Enterprise Risk Management (ERM*2)", and further accelerate growth to improve the Group's corporate value.
We appreciate your continued support.
*1 DSR:
The Dai-ichi Life Group has defined its own Corporate Social Responsibility "CSR" in an effort to improve its corporate value while improving management quality. Further progressing such efforts and evolving CSR into the concept of "DSR" (Dai-ichi's social responsibility), the Group aims to fulfill its social responsibility for each stakeholder and, consequently, improve its corporate value with all employees' continuous efforts for higher management quality based on the self-directed PDCA (Plan-Do-Check-Action) cycle within each organization.
*2 ERM:
Enterprise Risk Management is to promote business operations while establishing management plans and capital strategies, etc. in conformity with a Company's capital, risk and profit situation.
Koichiro Watanabe
President and Representative Director
The Dai-ichi Life Insurance Company, Limited
Topics
- 2012/02/13
- Regarding financial results for Q3 FY2011
- 2011/11/14
- Regarding financial results for Q2 FY2011
- 2011/08/11
- Regarding financial results for Q1 FY2011
- 2010/11/12
- Regarding financial results for Q2 FY 2010
- 2010/05/17
- Regarding financial results for FY 2009
- 2010/04/01
- Top Message on Demutualization
