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Dai-ichi Life's net profit down 19% in April-Dec. period.

TOKYO, Feb. 13 Kyodo

Dai-ichi Life Insurance Co. on Monday reported its group net profit in the April to December period fell 19.0 percent from a year earlier to 12.71 billion yen, on valuation losses on its stockholdings and temporary costs related to corporate tax reform.

Consolidated revenue rose 5.7 percent to 3.60 trillion yen, owing to brisk sales of insurance products. Premium and relevant revenue rose to 2.66 trillion yen from 2.51 billion yen, and investment revenue climbed to 714 billion yen from 680 billion yen.

For the full business year to March 31, the insurer forecasts a 4.5 percent increase in group net profit to 20 billion yen, on revenue of 4.78 trillion yen, up 4.6 percent.

Dai-ichi Life will pay a dividend of 1,600 yen per share for the current year, unchanged from the previous year.
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Publication:Japan Weekly Monitor
Article Type:Financial report
Date:Feb 13, 2012
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