Dai-ichi Life Holdings Inc 8750

JPY 3,606.00 −10.00 (0.28%)

As of May 13, 2024 6:00am Delayed Price Closed

Company Report

Dai-ichi Life: Under Review Pending Coverage Transfer

Lorraine Tan May 6, 2024

While we will continue to comment on key events, we are placing Dai-ichi Life's fair value estimate and ratings under review pending the transfer of coverage to another analyst. We should be reinitiating coverage by end-July, 2024.

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Bulls Say, Bears Say

Bulls

Dai-Ichi Life is steadily reducing its total risk amount, improving return on risk by focusing on the denominator.

Bears

The competitive and mature Japanese life insurance market does not offer growth.

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Trading Information

Previous Close Price: JPY 3,616.00
Day Range: JPY 3,567.00–3,624.00
52-Week Range: JPY 2,377.50–4,012.00
Bid/Ask: JPY 3,603.00 / JPY 3,607.00
Market Cap: JPY 3.42 Tril
Volume/Avg: 2.2 Mil / 3.5 Mil

Key Statistics

Price/Earnings (Normalized): 16.09
Price/Sales: 0.39
Dividend Yield (Trailing): 5.31%
Dividend Yield (Forward): 5.31%
Total Yield: 8.80%

Company Profile

Dai-Ichi Life is Japan’s second-largest life insurance company excluding recently privatized Japan Post Insurance, with a market share of slightly over 10%. Unlike its largest domestic competitors Nippon Life, Meiji Yasuda, and Sumitomo Life, which remain mutually owned by their policyholders, Dai-Ichi Life demutualized and listed on the Tokyo Stock Exchange in 2010. Its main domestic operating company accounts for around 60% of profits, its Frontier bancassurance subsidiary selling mainly savings products accounts for around 10%, Alabama-based Protective Life accounts for around 15%, TAL in Australia accounts for 7%, and Dai-Ichi Life Vietnam around 5%. Dai-Ichi also holds a 30% economic interest in Mizuho’s Asset Management One.

Sector: Financial Services
Industry: Insurance - Life
Stock Style Box: Large Value
Total Number of Employees: 60,310
Website: https://www.dai-ichi-life-hd.com

Competitors

Valuation

Metric	8750	PRU	8766
Price/Earnings (Normalized)	16.09	9.84	16.16
Price/Book Value	1.17	1.57	2.25
Price/Sales	0.39	0.71	1.46
Price/Cash Flow	14.72	5.37	27.22

Price/Earnings

8750

PRU

8766

Financial Strength

Metric	8750	PRU	8766
Quick Ratio	—	—	—
Current Ratio	—	—	—
Interest Coverage	10.12	—	29.69

Quick Ratio

No chart available

Profitability

Metric	8750	PRU	8766
Return on Assets (Normalized)	0.74%	0.63%	2.54%
Return on Equity (Normalized)	16.29%	15.77%	18.24%
Return on Invested Capital (Normalized)	10.27%	7.08%	17.68%

Return on Assets

8750

PRU

8766

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