T&D Holdings, Inc. Supplementary Materials for the Second Quarter (Interim) of the Fiscal Year Ending March 2027

Earnings Overview

In the supplementary materials for the second quarter of the fiscal year ending March 2027, T&D Holdings, Inc. reported in-force policies of 360,965 thousand cases and an in-force amount of 360,965 hundred million yen, with new business of 99 thousand cases. Investment-related income amounted to 213,138 million yen, and gains on sales were 81,642 million yen, both showing substantial increases, resulting in ordinary income of 78,518 million yen. Trends in provisioning such as IBNR were also disclosed, highlighting the stability of premium income and the profitability of asset management.

Outlook and Impact on Shareholders

The supplementary materials do not provide detailed forward-looking indicators for the fiscal year ending March 2027 within the main text, but emphasize that the increase in core earnings is largely due to contributions from investment income. Ongoing monitoring is warranted for unrealized gains/losses trends, resolution of non-performing assets, and additions to price fluctuation reserves. Dividend policy and shareholder returns should be confirmed from separate disclosures; however, attention should be paid to long-term cash flow generation capacity given the stability of results and capital strength.