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T&D HoldingsT&D Holdings, Inc.8795東証プライム保険業FY ending Mar 2026, consolidated, J-GAAP

T&D Holdings FY ending Mar 2026 results

About 37% of T&D Holdings's ordinary revenue comes from Taiyo life insurance, with Daido life insurance and T and D financial life insurance making up much of the rest.

Out of every ¥100 of ordinary revenue, about ¥7 is left as ordinary profit.

Ordinary revenue changed -6.7% from the prior year, ordinary profit +29.5%.

Revenue and profit pattern

Revenue down, profit up

Revenue -6.7% · profit +29.5%, calculated from disclosed figures.

Operating leverage: -4.43× (profit growth ÷ revenue growth)

What changed from last year

FY ending Mar 2025 → FY ending Mar 2026

Revenue
-6.7%¥3.73T → ¥3.48T
Net income attributable to owners
+10.0%¥126.4B → ¥139B
Operating cash flow
Back to profit-¥359.9B → ¥150.2B
Free cash flow
Back to profit-¥379.5B → ¥136.8B

Results at a glance

  • Revenue for the FY ending Mar 2026 was ¥3.48T, down -6.7% from ¥3.73T.
  • Net income attributable to owners still grew +10.0%, from ¥126.4B to ¥139B.
  • Operating cash flow swung from -¥359.9B to a positive ¥150.2B, and free cash flow came in at ¥136.8B.

What drove the change

  • Revenue fell mainly because the prior year was lifted by a one-off: a reinsurance deal on Taiyo Life's dementia and nursing-care annuity policies released a large amount of policy reserves, and that did not repeat
  • Insurance premium income rose on strong sales
  • Investment income grew thanks to higher gains on money trusts and on sales of securities

Things to watch

  • Group results depend heavily on its life insurance subsidiaries, so a big change in their business would hit the group
  • An aging, shrinking population could reduce new and existing policies over time and sharpen competition on price and service
  • A cut in the insurers' claims-paying ratings could lead to fewer new policies and more cancellations

Annual securities report / 経営者による財政状態、経営成績及びキャッシュ・フローの状況の分析 · Annual securities report / 事業等のリスク

Where the money goes

FY ending Mar 2025 → FY ending Mar 2026

Where ¥100 of ordinary revenue goes

For every ¥100 of ordinary revenue (a bank's or insurer's top line) T&D Holdings earns, how much goes where, and how much is kept.

FY ending Mar 2026
Ordinary expenses
¥93
Ordinary profit
¥7
Net profit kept
¥4

Annual margin trends

Ordinary margin7.4%
FY ending Mar 2021: 7.4%7.4%FY ending Mar 2022: 2.2%2.2%FY ending Mar 2023: -2.3%-2.3%FY ending Mar 2024: 5.0%5.0%FY ending Mar 2025: 5.3%5.3%FY ending Mar 2026: 7.4%7.4%FY21FY22FY23FY24FY25FY26
Net margin4.0%
FY ending Mar 2021: 4.6%4.6%FY ending Mar 2022: 0.5%0.5%FY ending Mar 2023: -4.1%-4.1%FY ending Mar 2024: 3.1%3.1%FY ending Mar 2025: 3.4%3.4%FY ending Mar 2026: 4.0%4.0%FY21FY22FY23FY24FY25FY26

Aligned fiscal years compare the shares of revenue remaining as gross, core, and net profit. Missing years are left unconnected.

Which businesses earn the money

Revenue by business segment, and the profit each one keeps.

FY ending Mar 2026

Profit by segment

※ Segment figures include inter-segment sales and do not sum to the company total

Sources

Show source documents (6)

  • EDINET (FSA Japan)

    訂正有価証券報告書－第22期(2025/04/01－2026/03/31)

    ID S100YZ3S2026-08-27Open

  • EDINET (FSA Japan)

    有価証券報告書－第21期(2024/04/01－2025/03/31)

    ID S100VXGU2025-06-12Open

  • EDINET (FSA Japan)

    訂正有価証券報告書－第20期(2023/04/01－2024/03/31)

    ID S100U6XM2024-08-08Open

  • EDINET (FSA Japan)

    有価証券報告書－第19期(2022/04/01－2023/03/31)

    ID S100QXRZ2023-06-15Open

  • EDINET (FSA Japan)

    有価証券報告書－第18期(令和3年4月1日－令和4年3月31日)

    ID S100O9AN2022-06-16Open

  • EDINET (FSA Japan)

    有価証券報告書－第17期(令和2年4月1日－令和3年3月31日)

    ID S100LJI62021-06-17Open

Extracted from XBRL: 41 / Derived from other figures: 1

Spotted an error? Report it (corrections keep the original record)

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