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Meiji Yasuda posts rise in fiscal Q1 net surplus

Meiji Yasuda Life Insurance Co. posted a rise in consolidated net surplus attributable to the parent for the fiscal first quarter ended June 30 to ¥35.73 billion from ¥35.07 billion.

Ordinary income fell to ¥967.80 billion from ¥981.49 billion. The group reported ordinary profit of ¥56.62 billion, compared to an ordinary loss of ¥66.68 billion in the prior-year quarter.

Insurance premiums and other income declined to ¥716.47 billion from ¥777.43 billion, while investment income climbed to ¥216.02 billion from ¥179.32 billion.

Provision for policy reserves and other reserves declined to ¥52.65 billion from ¥153.77 billion.

As of Aug. 8, US$1 was equivalent to ¥110.77.