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Meiji Yasuda Life fiscal-year net surplus climbs YOY

Meiji Yasuda Life Insurance Co. reported a year-over-year increase in net surplus for the fiscal year ended March 31 amid higher investment income.

The Japanese insurer said May 25 that net surplus attributable to the parent company rose to ¥265.04 billion from ¥223.73 billion in the prior-year period.

Ordinary income rose to ¥4.117 trillion from ¥3.875 trillion, while insurance premiums and other amounted to ¥3.024 trillion, up from ¥2.866 trillion. Investment income increased to ¥958.79 billion, from ¥871.42 billion.

Ordinary profit grew to ¥370.19 billion from ¥314.88 billion, while ordinary expenses also increased to ¥3.747 trillion from ¥3.561 trillion a year earlier.

Extraordinary losses for the fiscal year jumped to ¥110.52 billion from ¥64.51 billion, while extraordinary gains slipped to ¥1.68 billion from ¥2.05 billion.

As of May 25, US$1 was equivalent to ¥109.37.