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Meiji Yasuda Life fiscal-year net surplus decreases YOY

Meiji Yasuda Life Insurance Co. reported a year-over-year decrease in net surplus for the fiscal year ended March 31, while investment income rose.

The Japanese insurer said May 24 that net surplus attributable to the parent company slid to ¥229.58 billion from ¥265.04 billion in the prior-year period.

Ordinary income rose to ¥4.183 trillion from ¥4.117 trillion. Insurance premiums and other amounted to ¥3.081 trillion, up from ¥3.024 trillion. Investment income increased to ¥980.26 billion, from ¥958.79 billion.

Ordinary profit grew to ¥390.62 billion from ¥370.19 billion, while ordinary expenses increased to ¥3.792 trillion from ¥3.747 trillion a year earlier.

Extraordinary losses for the fiscal year rose to ¥136.85 billion from ¥110.52 billion, while extraordinary gains jumped to ¥2.76 billion from ¥1.68 billion.

As of May 23, US$1 was equivalent to ¥109.67.