Interim report
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Company Name : Code Number : Representative : For inquiry : ( Unofficial Translation ) Consolidated Summary Report under Japanese GAAP for the Three Months Ended June 30 , 2026 Daiichi Life Group , Inc. 8750 Tetsuya Kikuta , President , Representative Director August 7 , 2026 Stock exchange listings : Tokyo URL : https://www.daiichilife-group.com Shunsuke Murakami , General Manager , Investor Relations Group , Corporate Planning Unit TEL : ( 03 ) 3216-1222 Dividend payment date : Supplementary information for quarterly financial statements : Available Explanatory meeting to be held : Yes ( for institutional investors and analysts ) ( Amounts of less than one million yen are truncated . ) 1. Consolidated Financial Data for the Three Months Ended June 30 , 2026 ( 1 ) Consolidated results of operations ( % represents the change from the same period in the previous fiscal year ) Net Income attributable to shareholders of parent Three Months Ended June 30 , 2026 June 30 , 2025 Ordinary Revenues Ordinary Profit million yen 2,893,002 % million yen % company million yen % 25.3 2,308,294 ( 22.9 ) 251,057 84,919 195.6 ( 59.3 ) 160,065 367.8 34,218 ( 74.7 ) Note . Comprehensive income ( loss ) for the three months ended June 30 , 2026 and 2025 were 427,757 million yen ( 136.0 % ) and 181,269 million yen ( 30.7 % decrease year - on - year ) , respectively . Net Income per Share Three Months Ended June 30 , 2026 June 30 , 2025 yen 44.44 9.31 ( 2 ) Consolidated financial condition As of June 30 , 2026 March 31 , 2026 Diluted Net Income per Share yen 44.44 9.31 Total Assets Total Net Assets Ratio of Net Assets Attributable to the Company's Shareholders to Total Assets million yen million yen 76,322,711 4,573,060 % 6.0 74,159,096 4,254,212 5.7 ( Reference ) Net assets attributable to the Company's shareholders as of June 30 , 2026 and March 31 , 2026 were 4,572,892 million yen and 4,254,002 million yen , respectively . 2. Dividends on Common Stock 1st quarter - end 2nd quarter - end Dividends per share 3rd quarter - end Fiscal year - end Annual Fiscal Year Ended yen yen yen yen March 31 , 2026 24.00 30.50 yen 54.50 March 31 , 2027 March 31 , 2027 36.00 36.00 72.00 ( Forecast ) Note . Revision of dividend forecasts on the presentation date of this consolidated summary report : No 3. Consolidated Earnings Forecasts for the Fiscal Year ending March 31 , 2027 Fiscal Year Ending March 31 , 2027 Ordinary Revenues Ordinary Profit million yen 10,666,000 % ( 5.7 ) million yen 869,000 % 15.3 ( % represents the change from the previous fiscal year ) Net Income attributable to shareholders of parent Note . Revision of earnings forecasts on the presentation date of this consolidated summary report : No company million yen 513,000 Net Income per Share % 17.5 yen 142.44 " Net income per share " is presented in the Consolidated Earnings Forecasts for the Fiscal Year ending March 31 , 2027 , factoring in the status of total shares outstanding and the Company's own shares as of June 30 , 2026 .
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***** NNNNNooooottttteeeeesssss (1) Significant changes in the scope of consolidation during the period: No (2) Adoption of unique accounting methods applied only to quarterly consolidated financial statements: Yes For details, please refer to (3) Notes to the Quarterly Consolidated Financial Statements in the Appendix. (3) Changes in accounting policies, accounting estimates and correction of past errors: (A) Changes in accounting policies due to revision of accounting standards: No (B) Changes in accounting policies due to reasons other than item (A) above: No (C) Changes in accounting estimates: No (D) Correction of past errors: No (4) Number of shares outstanding (common stock) As of June 30, 2026 As of March 31, 2026 (A) Total shares outstanding including treasury stock: 3,621,895,219 3,621,895,219 (B) Shares of treasury stock held: 20,446,404 20,944,204 Three months ended June 30, 2026 Three months ended June 30, 2025 (C) Average outstanding shares: 3,601,446,609 3,675,507,359 Note. The number of treasury stocks includes the shares of the Company (17,689,366 shares as of June 30, 2026 and 18,079,918 shares as of March 31, 2026) held by the Stock Granting Trust (J-ESOP trust). *Review of the Japanese-language originals of the attached consolidated quarterly financial statements by CPAs or Audit firms: Yes (voluntary) *Notes for using earnings forecast in this report and others: This report contains forward-looking statements, such as earnings forecasts, regarding the intent, beliefs and current expectations of the Company and its management with respect to the expected financial condition and results of operations of the Company. These statements necessarily depend upon information currently available to the Company and its management and on assumptions that the Company and its management believe are appropriate. Forward-looking statements are not guarantees of future performance and actual results may differ materially from any future results expressed or implied by forward-looking statements. Forward-looking statements are subject to various risks and uncertainties, such as fluctuations in market conditions, including changes in the value of equity securities and changes in interest rates and forward exchange rates, the occurrence of illegal acts, operational and system risks, risks associated with general economic conditions in Japan and other factors. Important factors which may affect the Company’s financial condition, results of operations and business performance are not limited to the factors described above. In light of the risks and uncertainties relating to forward-looking statements, investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this report.
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TTTTTaaaaabbbbbllllleeeee ooooofffff CCCCCooooonnnnnttttteeeeennnnntttttsssss ooooofffff AAAAAppppppppppeeeeennnnndddddiiiiixxxxx 1. Consolidated Results of Operations …………………………………………………………………………… 2 2. Quarterly Consolidated Financial Statements and Notes ……………………………………………………… 3 (1) Quarterly Consolidated Balance Sheet ………………………………………………………………………… 3 (2) Quarterly Consolidated Statement of Earnings and Comprehensive Income .………………………………… 5 Quarterly Consolidated Statement of Earnings………………………………………………………………… 5 Quarterly Consolidated Statement of Comprehensive Income………………………………………………… 7 (3) Notes to the Quarterly Consolidated Financial Statements …………………………………………………… 8 (Notes on Going-Concern Assumptions) ……………………………………………………………………… 8 (Notes for Material Changes in Shareholders' Equity) ………………………………………………………… 8 (Adoption of Unique Accounting Methods Applied Only to Quarterly Consolidated Financial Statements) ...... 8 (Changes in Presentation) ………………………………………………………………………………………. 8 (Notes on Segment Information) …………………………………………………………………………….... 8 (Notes on Quarterly Consolidated Statement of Cash Flows) ………………………………………………… 9 The Company plans to hold a conference call for institutional investors and analysts regarding its financial results for the three months ended June 30, 2026 on August 7, 2026. The material for the conference call will be posted on TDnet and the Company’s website.
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1. Consolidated Results of Operations During the three months ended June 30, 2026, the global economy remained resilient overall, supported by the moderate expansion of the U.S. economy and increasing demand related to AI, although rising energy prices associated with heightened tensions in the Middle East weighed on prices and real income. In financial markets, stock prices and interest rates experienced significant fluctuations due to developments surrounding the situation in the Middle East. In June, stock prices rose globally due to progress toward a ceasefire and the end of hostilities, as well as growing expectations for AI- and semiconductor-related companies. In addition, long-term interest rates increased due to the Bank of Japan’s decision to raise its policy interest rate to 1.0% in June and concerns over upward pressure on prices resulting from higher crude oil prices. The economy of Japan continued to recover slowly, supported by improvements in employment and income conditions backed by wage increases, as well as a recovery in personal consumption and capital investment. Meanwhile, persistently high crude oil prices associated with the situation in the Middle East exerted upward pressure on corporate procurement costs and consumer prices. Under these circumstances, the results for the first quarter were as follows. (1) Results of Operations for the Three Months Ended June 30, 2026 Ordinary revenues of Daiichi Life Group, Inc. (hereinafter the “Company” or the “Parent Company”) and its consolidated subsidiaries (collectively, the “Group”) for the three months ended June 30, 2026 increased by 584.7 billion yen, or 25.3%, to 2,893.0 billion yen, consisting of (1) 1,760.7 billion yen (10.9% increase) of premium and other income, (2) 1,001.3 billion yen (68.3% increase) of investment income, and (3) 130.8 billion yen (4.1% increase) of other ordinary revenues, compared to the three months ended June 30, 2025. Ordinary revenues increased due mainly to the increase in investment income at Daiichi Life Insurance Co., Ltd. Meanwhile, the Group’s ordinary expenses for the three months ended June 30, 2026 increased by 418.5 billion yen, or 18.8%, to 2,641.9 billion yen, consisting of (1) 1,815.5 billion yen (29.9% increase) of benefits and claims, (2)110.5 billion yen (54.1% decrease) of provision for policy reserves and others, (3) 341.4 billion yen (35.4% increase) of investment expenses, (4) 274.7 billion yen (13.8% increase) of operating expenses, and (5) 99.7 billion yen (9.9% increase) of other ordinary expenses, compared to the three months ended June 30, 2025. Ordinary expenses increased due mainly to the increase in benefits and claims at Daiichi Life Insurance Co., Ltd. Consequently, the Group’s ordinary profit for the three months ended June 30, 2026, compared to the three months ended June 30, 2025, increased by 166.1 billion yen or 195.6%, to 251.0 billion yen. Its net income attributable to shareholders of parent company for the three months, which is ordinary profit after extraordinary gains and losses, provision for reserve for policyholder dividends, and total of corporate income taxes, increased by 367.8%, to 160.0 billion yen. (2) Financial Condition as of June 30, 2026 The Group’s total assets as of June 30, 2026, compared to March 31, 2026, increased by 2.9%, to 76,322.7 billion yen, mainly consisting of 57,332.9 billion yen (3.2% increase) of securities, 4,999.5 billion yen (0.0% increase) of loans, 1,230.9 billion yen (0.7% decrease) of tangible fixed assets, and 2,035.4 billion yen (1.3% decrease) of reinsurance receivable. The Group’s total liabilities as of June 30, 2026 increased by 2.6% to 71,749.6 billion yen, mainly consisting of 61,972.0 billion yen (1.2% increase) of policy reserves and others, compared to March 31, 2026. The Group’s total net assets as of June 30, 2026 increased by 7.5% to 4,573.0 billion yen. Net unrealized gains on securities, net of tax, as of June 30, 2026, which are included in the Group’s total net assets, increased by 14.8% to 1,576.0 billion yen.
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2. Quarterly Consolidated Financial Statements and Notes (1) Quarterly Consolidated Balance Sheet (Unit: million yen) As of March 31, 2026 As of June 30, 2026 ASSETS Cash and deposits 1,974,671 1,830,822 Call loans 591,000 373,700 Monetary claims bought 186,044 181,436 Money held in trust 1,384,128 1,615,181 Securities 55,576,274 57,332,987 Loans 4,997,117 4,999,553 Tangible fixed assets 1,239,280 1,230,922 Intangible fixed assets 963,435 1,179,582 Reinsurance receivable 2,062,981 2,035,454 Other assets 5,075,928 5,417,360 Deferred tax assets 125,244 144,236 Customers' liabilities for acceptances and guarantees 4 3 Reserve for possible loan losses (16,563) (17,054) Reserve for possible investment losses (450) (1,475) Total assets 74,159,096 76,322,711 LIABILITIES Policy reserves and others 61,255,107 61,972,017 Reserves for outstanding claims 1,624,508 1,679,841 Policy reserves 59,192,742 59,882,350 Reserve for policyholder dividends 437,856 409,824 Reinsurance payable 1,514,606 1,532,949 Short-term bonds payable 7,822 31,913 Bonds payable 1,337,337 1,346,733 Other liabilities 5,109,011 6,071,589 Payables under repurchase agreements 1,831,637 2,783,578 Other liabilities 3,277,374 3,288,010 Net defined benefit liabilities 19,352 21,396 Reserve for retirement benefits of directors, executive officers and corporate auditors 556 531 Reserve for possible reimbursement of prescribed claims 1,600 1,458 Reserves under the special laws 357,500 361,402 Reserve for price fluctuations 357,500 361,402 Deferred tax liabilities 233,435 341,378 Deferred tax liabilities for land revaluation 68,547 68,274 Acceptances and guarantees 4 3 Total liabilities 69,904,883 71,749,650
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(Unit: million yen) As of March 31, 2026 As of June 30, 2026 NET ASSETS Capital stock 344,702 344,702 Capital surplus 331,035 331,035 Retained earnings 1,611,421 1,662,948 Treasury stock (16,949) (16,524) Total shareholders' equity 2,270,210 2,322,161 Net unrealized gains (losses) on securities, net of tax 1,372,692 1,576,020 Deferred hedge gains (losses) (205,617) (210,146) Reserve for land revaluation 54,143 53,388 Foreign currency translation adjustments 387,289 426,293 Accumulated remeasurements of defined benefit plans 199,082 190,738 Net unrealized gains (losses) on total policy reserves and other reserves of foreign subsidiaries, net of tax 176,203 214,435 Total accumulated other comprehensive income 1,983,792 2,250,730 Subscription rights to shares 210 168 Total net assets 4,254,212 4,573,060 Total liabilities and net assets 74,159,096 76,322,711
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(2) Quarterly Consolidated Statement of Earnings and Comprehensive Income [Quarterly Consolidated Statement of Earnings] (Unit: million yen) Three months ended June 30, 2025 Three months ended June 30, 2026 ORDINARY REVENUES 2,308,294 2,893,002 Premium and other income 1,587,476 1,760,764 Investment income 595,077 1,001,356 Interest and dividends 373,457 421,578 Gains on money held in trust － 25,862 Gains on investments in trading securities 66,958 － Gains on sale of securities 105,821 359,734 Gains on redemption of securities 4,345 9,477 Gains on Financial Derivatives 18,746 14,451 Foreign exchange gains － 69,590 Reversal of reserve for possible loan losses 273 － Other investment income 568 1,155 Gains on investments in separate accounts 24,905 99,506 Other ordinary revenues 125,741 130,881 ORDINARY EXPENSES 2,223,375 2,641,944 Benefits and claims 1,397,931 1,815,528 Claims 471,528 488,449 Annuities 267,970 299,037 Benefits 192,259 195,308 Surrender values 232,982 351,960 Other refunds 233,191 480,772 Provision for policy reserves and others 241,058 110,586 Provision for policy reserves 238,899 108,418 Provision for interest on policyholder dividends 2,158 2,168 Investment expenses 252,193 341,401 Interest expenses 13,781 19,479 Losses on money held in trust 1,418 － Losses on investments in trading securities － 39,072 Losses on sale of securities 74,284 241,766 Losses on valuation of securities 1,651 2,425 Losses on redemption of securities 3,756 8,301 Foreign exchange losses 127,287 － Provision for reserve for possible loan losses － 89 Provision for reserve for possible investment losses 186 1,027 Write-down of loans 484 2 Depreciation of real estate for rent and others 3,784 4,043 Other investment expenses 25,557 25,193 Operating expenses 241,476 274,727 Other ordinary expenses 90,715 99,700 Ordinary profit 84,919 251,057
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(Unit: million yen) Three months ended June 30, 2025 Three months ended June 30, 2026 EXTRAORDINARY GAINS 987 2,004 Gains on disposal of fixed assets 836 1,998 Other extraordinary gains 150 5 EXTRAORDINARY LOSSES 5,902 6,217 Losses on disposal of fixed assets 789 2,315 Impairment losses on fixed assets 606 － Provision for reserve for price fluctuations 4,501 3,901 Other extraordinary losses 5 0 Provision for reserve for policyholder dividends 22,966 26,150 Income before income taxes 57,037 220,694 Corporate income taxes-current 29,635 73,499 Corporate income taxes-deferred (6,816) (12,869) Total of corporate income taxes 22,819 60,629 Net income 34,218 160,065 Net income attributable to shareholders of parent company 34,218 160,065
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[Quarterly Consolidated Statement of Comprehensive Income] (Unit: million yen) Three months ended June 30, 2025 Three months ended June 30, 2026 Net income 34,218 160,065 Other comprehensive income Net unrealized gains (losses) on securities, net of tax 231,591 197,934 Deferred hedge gains (losses) 15,431 (5,825) Revaluation reserve for land 5 － Foreign currency translation adjustments (85,038) 38,088 Remeasurements of defined benefit plans, net of tax (5,263) (8,339) Net unrealized gains (losses) on total policy reserves and other reserves of foreign subsidiaries, net of tax (623) 37,841 Share of other comprehensive income of subsidiaries and affiliates accounted for under the equity method (9,052) 7,993 Total other comprehensive income 147,050 267,692 Comprehensive income 181,269 427,757 (Details) Attributable to shareholders of parent company 181,269 427,757
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(3) Notes to the Quarterly Consolidated Financial Statements The Company's quarterly consolidated financial statements are prepared in accordance with Article 4, Paragraph 1 of the Accounting Standards for Preparation of Quarterly Financial Statements of Tokyo Stock Exchange, Inc. and accounting standards generally accepted in Japan for interim consolidated financial statements, however, the omission of certain notes specified in Article 4, Paragraph 2 of the Accounting Standards for Preparation of Quarterly Financial Statements is applied. (Notes on Going-Concern Assumptions) None (Notes for Material Changes in Shareholders’Equity) None (Adoption of Unique Accounting Methods Applied Only to Quarterly Consolidated Financial Statements) (i) Calculation of Tax Income taxes of certain consolidated subsidiaries of the Company are calculated by applying a reasonably estimated effective tax rate for the full fiscal year to income before income taxes for the three months ended June 30, 2026. The effective tax rate is determined by estimating the effective tax rate for the full fiscal year, which includes the three months ended June 30, 2026, after taking into account the effect of deferred tax accounting. (Changes in Presentation) Certain domestic consolidated subsidiaries had previously presented income and expenses related to limited partnership investments on a gross basis as “Interest and dividends” and “Other investment expenses” in the statement of earnings. However, as such investments have become increasingly significant and net presentation better reflects the economic substance of such investment results, such consolidated subsidiaries have changed the presentation method from a gross basis to a net basis beginning of the fiscal year starting on April 1, 2026. To reflect this change in presentation, comparative information for the three months ended June 30, 2025 has been reclassified. As a result of the reclassification, “Interest and dividends” and “Other investment expenses” for the three months ended June 30, 2025 decreased by ¥1,648 million, respectively. This reclassification has no impact on net income. (Notes on Segment Information) Information on ordinary revenues, and income or loss by reportable segment For the three months ended June 30, 2025 (Unit: million yen) Reportable segment Adjustments (Note 2) Amount on quarterly consolidated statement of earnings (Note 3) Domestic Insurance Business Overseas Insurance Business Other Business Total Ordinary revenues(Note 1) 1,687,529 728,618 16,424 2,432,572 (124,277) 2,308,294 Intersegment transfers 72,997 10,357 241,856 325,212 (325,212) - Total 1,760,527 738,976 258,281 2,757,785 (449,490) 2,308,294 Segment income (loss) 97,805 (3,281) 227,494 322,018 (237,098) 84,919 Note: 1. Ordinary revenues, instead of sales, are presented here.
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2. Adjusted amounts were as follows. (1) Adjustment for ordinary revenues of ¥(124,277) million was mainly related to ordinary revenues including other ordinary revenues of ¥86,482 million and ordinary expenses including losses on investments in trading securities of ¥25,196 million reconciled to provision for policy reserves and gains on investments in trading securities in the Quarterly Consolidated Statement of Earnings. (2) Adjustment for segment income (loss) of ¥(237,098) million was mainly related to elimination of dividend income from subsidiaries and affiliated companies. 3. Segment income (loss) is reconciled with ordinary profit booked in the Quarterly Consolidated Statement of Earnings.
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Information on ordinary revenues, and income or loss by reportable segment For the three months ended June 30, 2026 (Unit: million yen) Reportable segment Adjustments (Note 2) Amount on quarterly consolidated statement of earnings (Note 3) Domestic Insurance Business Overseas Insurance Business Other Business Total Ordinary revenues(Note 1) 2,288,287 845,619 20,073 3,153,980 (260,978) 2,893,002 Intersegment transfers 90,977 8,812 384,138 483,928 (483,928) - Total 2,379,264 854,431 404,212 3,637,908 (744,906) 2,893,002 Segment income (loss) 227,406 38,562 363,370 629,338 (378,281) 251,057 Note: 1. Ordinary revenues, instead of sales, are presented here. 2. Adjusted amounts were as follows. (1) Adjustment for ordinary revenues of ¥(260,978) million was mainly related to ordinary revenues including other ordinary revenues of ¥231,507 million and ordinary expenses including derivative transaction losses of ¥29,269 million reconciled to provision for policy reserves and derivative transaction gains in the Quarterly Consolidated Statement of Earnings. (2) Adjustment for segment income (loss) of ¥(378,281) million was mainly related to elimination of dividend income from subsidiaries and affiliated companies. 3. Segment income (loss) is reconciled with ordinary profit booked in the Quarterly Consolidated Statement of Earnings. (Notes on Quarterly Consolidated Statement of Cash Flows) Quarterly Consolidated Statement of Cash Flows for the three months ended June 2026 is omitted. Depreciation of real estate for rent and others, depreciation (including depreciation of intangible fixed assets other than goodwill), and amortization of goodwill are as follows. (Unit: million yen) Three months ended June 30, 2025 Three months ended June 30, 2026 Depreciation of real estate for rent and others 3,784 4,043 Depreciation 25,865 25,097 Amortization of goodwill 7,895 10,604