T&D Holdings Inc (OTCPK:TDHOY)

Q2 2026 T&D Holdings Inc Earnings Call Transcript

Nov 14, 2025 / 10:59 AM GMT

Release Date Price: $10.55 (-4.09%)

Transcript

Key Points

Positve

Group adjusted profit reached JPY70.1 billion, showing a progress rate of 48.1% towards the full-year forecast.
Sales results of new policies increased year on year across all three life insurance companies.
Value of new business amounted to JPY97.9 billion, achieving a progress rate of 58.3% against the full-year forecast.
Both Taiyo Life and Daido Life recorded increased adjusted profits.
Group MCEV increased by JPY323.8 billion from the end of the previous fiscal year, driven by new business value and rising stock prices.

Negative

Surrender and lapse rates increased year on year for Taiyo and Daido Life.
TND Financial Life posted lower earnings due to a decline in surrender and lapsed gains.
TND United Capital's adjusted profit decreased significantly by JPY15.9 billion year on year.
Unrealized losses on domestic bonds increased due to rising domestic interest rates.
Fortitude's profit volatility remains high, driven by fluctuations in alternative investments and variable annuities.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

8795.T - T&D Holdings Inc
Q2 2026 T&D Holdings Inc Earnings Call
Nov 14, 2025 / NTS GMT

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Presentation
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Unidentified_1 [1]
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First of all, I would like to present the key highlights of the financial results for the second quarter. Group adjusted profit amounted to JPY70.1 billion versus the full year forecast of JPY146 billion, with a progress rate of 48.1%. Sales results of new policies of all three life insurance companies increased year on year, showing good progress against the plan. Surrender and lapse rate increased year on year in Taiyo and Dido and decreased in NTDF.

Value of new business as the combined total of the three life insurance companies amounted to JPY97.9 billion with full year forecast of JPY168 billion and a progress rate of 58.3%. Group MCEV amounted to 4 trillion269.5 billion. ESR was 228%. There is no change in full year

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