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MetLife unit sees YOY decline in net income

MetLife Insurance KK posted a 5.6% year-over-year decline in net income for the fiscal full year 2017 ended March 31.

The company reported net income of ¥71.3 billion, down from ¥75.53 billion, in the prior-year period.

The insurer's premium and other income declined to ¥1.786 trillion from ¥2.286 trillion a year ago.

The company's solvency margin ratio came to 883.6% as of March 31, down from 957.0% in the previous year.

MetLife Insurance KK is a unit of MetLife Inc.

As of May 24, US$1 was equivalent to ¥109.21.