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Dai-ichi Life fiscal Q1 net income slips minus Janus Henderson merger gains

Dai-ichi Life Holdings Inc. said fiscal first-quarter net income attributable to shareholders of parent company dropped to ¥41.44 billion from ¥71.94 billion in the year-ago period due to the absence of one-time gains from its acquisition of shares in U.K.-based Janus Henderson Group PLC

EPS was ¥35.54, versus the year ago ¥61.16.

Ordinary revenues rose year over to ¥1.688 trillion from ¥1.593 trillion, while ordinary profit fell to ¥81.40 billion from ¥98.17 billion.

Premium and other income grew to ¥1.246 trillion from ¥1.035 trillion, while investment income dipped to ¥377.75 billion from ¥482.00 billion. Extraordinary gains plunged to ¥1.89 billion from ¥33.61 billion.

Unit Dai-ichi Frontier Life Insurance Co. Ltd. posted fiscal first-quarter net income of ¥2.28 billion, versus ¥2.78 billion in the prior-year period.

The unit's ordinary revenues rose to ¥483.44 billion from ¥348.80 billion. Premium and other income climbed to ¥420.94 billion from ¥259.20 billion, while investment income decreased to ¥62.44 billion from ¥89.60 billion.

For the year ending March 31, 2019, Dai-ichi Life Holdings expects ordinary revenues of ¥6.429 trillion, ordinary profit of ¥414.0 billion, net income of ¥220.0 billion, or an EPS of ¥188.87, and group adjusted profit of about ¥230.0 billion.