MS&AD Insurance Group Holdings Inc

8725: XTKS (JPN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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MS&AD: Fair Value Adjusts to JPY 2,000 on Share Split, No Change in Our View

Lorraine Tan

Mar 28, 2024

Following a 1:3 stock split on March 28, 2024, our fair value estimate for MS&AD has adjusted to JPY 2,000. There are no changes to our view and earnings projections for the company ahead of its full-year results release in mid-May. We view the shares as relatively overvalued, with benefits from Japan's exit from negative interest rates largely reflected in its current share price.

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