Daiichi Life Group (TSE:8750) Beneish M-Score: -2.58 (As of Jun. 24, 2026)


TSE:8750 Daiichi Life Group Inc TSE:8750
71 GF Score
Price 円1,728.00
GF Value 円1,164.63
Valuation Significantly Overvalued
! 5 Warning Signs
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What is Daiichi Life Group Beneish M-Score?

Daiichi Life Group TSE:8750 -4.64% 71 Beneish M-Score is -2.58 as of Jun. 24, 2026. GuruFocus rates TSE:8750 with a GF Score™ of 71/100 and a GF Value™ of 円1,164.63 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 399 Insurance companies, Daiichi Life Group ranks better than 60.15% on this metric.

Note: Financial institutions were excluded from the sample in Beneish paper when calculating Beneish M-Score. Thus, the prediction might not fit banks and insurance companies.

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Good Sign:

Beneish M-Score -2.58 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Daiichi Life Group's Beneish M-Score or its related term are showing as below:

TSE:8750' s Beneish M-Score Range Over the Past 10 Years
Min: -3.09   Med: -2.48   Max: 1.3
Current: -2.58

During the past 13 years, the highest Beneish M-Score of Daiichi Life Group was 1.30. The lowest was -3.09. And the median was -2.48.

TSE:8750
71GF Score
Daiichi Life Group Inc TSE:8750
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Daiichi Life Group Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of Daiichi Life Group for today is based on a combination of the following eight different indices:

M=-4.84+0.92 * DSRI+0.528 * GMI+0.404 * AQI+0.892 * SGI+0.115 * DEPI
=-4.84+0.92 * 0.8628+0.528 * 1+0.404 * 1.0017+0.892 * 1.1558+0.115 * 0.9485
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1+4.679 * -0.018185-0.327 * 1.0535
=-2.58

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was 円2,249,025 Mil.
Revenue was 円10,517,702 Mil.
Gross Profit was 円10,517,702 Mil.
Total Current Assets was 円0 Mil.
Total Assets was 円74,159,096 Mil.
Property, Plant and Equipment(Net PPE) was 円1,239,280 Mil.
Depreciation, Depletion and Amortization(DDA) was 円145,586 Mil.
Selling, General, & Admin. Expense(SGA) was 円0 Mil.
Total Current Liabilities was 円0 Mil.
Long-Term Debt & Capital Lease Obligation was 円1,345,159 Mil.
Net Income was 円436,597 Mil.
Gross Profit was 円993,019 Mil.
Cash Flow from Operations was 円792,158 Mil.
 Total Receivables was 円2,255,224 Mil.
Revenue was 円9,100,111 Mil.
Gross Profit was 円9,100,111 Mil.
Total Current Assets was 円0 Mil.
Total Assets was 円69,404,123 Mil.
Property, Plant and Equipment(Net PPE) was 円1,273,200 Mil.
Depreciation, Depletion and Amortization(DDA) was 円141,021 Mil.
Selling, General, & Admin. Expense(SGA) was 円0 Mil.
Total Current Liabilities was 円0 Mil.
Long-Term Debt & Capital Lease Obligation was 円1,194,998 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI=(Receivables_t / Revenue_t) / (Receivables_t-1 / Revenue_t-1)
=(2249025 / 10517702) / (2255224 / 9100111)
=0.213832 / 0.247824
=0.8628

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI=GrossMargin_t-1 / GrossMargin_t
=(GrossProfit_t-1 / Revenue_t-1) / (GrossProfit_t / Revenue_t)
=(9100111 / 9100111) / (10517702 / 10517702)
=1 / 1
=1

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI=(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) / (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
=(1 - (0 + 1239280) / 74159096) / (1 - (0 + 1273200) / 69404123)
=0.983289 / 0.981655
=1.0017

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI=Sales_t / Sales_t-1
=Revenue_t / Revenue_t-1
=10517702 / 9100111
=1.1558

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI=(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) / (Depreciation_t / (Depreciaton_t + PPE_t))
=(141021 / (141021 + 1273200)) / (145586 / (145586 + 1239280))
=0.099716 / 0.105126
=0.9485

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI=(SGA_t / Sales_t) / (SGA_t-1 /Sales_t-1)
=(0 / 10517702) / (0 / 9100111)
=0 / 0
=1

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI=((LTD_t + CurrentLiabilities_t) / TotalAssets_t) / ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
=((1345159 + 0) / 74159096) / ((1194998 + 0) / 69404123)
=0.018139 / 0.017218
=1.0535

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA=(IncomefromContinuingOperations_t - CashFlowsfromOperations_t) / TotalAssets_t
=(NetIncome_t - NonOperatingIncome_t - CashFlowsfromOperations_t) / TotalAssets_t
=(436597 - 993019 - 792158) / 74159096
=-0.018185

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Daiichi Life Group has a M-score of -2.58 suggests that the company is unlikely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of -2.58 mean?
Daiichi Life Group (TSE:8750) has a Beneish M-Score of -2.58 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Daiichi Life Group and its competitors. According to the industry distribution chart, Daiichi Life Group ranks #159 out of 399 companies in the Insurance industry, placing it in the top 39.8%.
Is Daiichi Life Group's Beneish M-Score too high?
Daiichi Life Group's current Beneish M-Score is -2.58. Based on the distribution chart, Daiichi Life Group ranks #159 out of 399 companies in the Insurance industry, which is above the industry midpoint. Overall, Daiichi Life Group has a GF Score™ of 71/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Daiichi Life Group's Beneish M-Score compare to AFL and MET?
According to the Insurance industry distribution chart, Daiichi Life Group ranks #159 out of 399 companies for Beneish M-Score. This puts Daiichi Life Group in the upper half of its industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Beneish M-Score for an Insurance company?
A good Beneish M-Score depends on the Insurance industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Beneish M-Score mean?
A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Daiichi Life Group and its competitors. Daiichi Life Group's current Beneish M-Score is -2.58. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Daiichi Life Group stock overvalued right now?
Based on GuruFocus' analysis, Daiichi Life Group (TSE:8750) is currently considered Significantly Overvalued. The stock's GF Value™ is 円1,164.63, compared to a current price of 円1,728.00 — trading 48.4% above its estimated fair value. The current Beneish M-Score is -2.58. Daiichi Life Group's overall GF Score™ is 71/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Beneish M-Score calculated?
Beneish M-Score is calculated from a company's financial statements. For Daiichi Life Group (TSE:8750), the current Beneish M-Score is -2.58 as of Jun. 24, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Daiichi Life Group (TSE:8750) Overvalued in 2026?

Based on GuruFocus' analysis, Daiichi Life Group stock appears to be overvalued. The current stock price of 円1,728.00 is trading 48.4% above its estimated GF Value™ of 円1,164.63. GuruFocus considers Daiichi Life Group to be Significantly Overvalued.

Key valuation signals for TSE:8750:

  • Beneish M-Score: -2.58
  • GF Value™: 円1,164.63 vs. price of 円1,728.00 (48.4% above fair value)
  • GF Score™: 71/100 with 5 warning signs

No single metric tells the full story. See the TSE:8750 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Daiichi Life Group Business Description

Address 13-1, Yurakucho 1-chome, Chiyoda-ku, Tokyo, JPN, 100-8411
Dai-ichi Life is Japan's second-largest life insurer (excluding the recently privatized Japan Post Insurance), commanding 11% of annualized net premiums. Unlike its largest domestic rivals—Nippon Life, Meiji Yasuda, and Sumitomo Life—which remain mutually owned by policyholders, Dai-ichi Life demutualized and listed on the Tokyo Stock Exchange in 2010. The group's profit profile is geographically diversified: The main domestic life business contributes roughly 75% of profits, the overseas life business contributes about 22%, and the noninsurance business contributes about 4% of total profits.
71GF Score

Get the complete analysis for TSE:8750

Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

円1,728.00
Price
円1,164.63
GF Value