Earnings quality
Compare earnings and operating cash flow for earnings quality.
Dai-ichi Life Holdings, Inc.
Ticker 8750 · 🇯🇵 Japan · Consolidated IFRS · amounts in yen
Filed 2026-06-16 · Period end 2026-03-31
Takeaway
Dig deeperThe numbers send mixed signals — dig into cash flow and leverage before drawing a conclusion.
Compare earnings and operating cash flow for earnings quality.
Mixed signals — use cash flow and the balance sheet before treating the year as clean.
ActionDig deeper
OP margin—
Equity ratio—
Last price—
Trailing P/E—
Look at next
- Compare operating cash flow to reported profit across the last two years.
- Open English IR for management commentary on outlook and capital allocation.
- Overlay peers on Compare before judging relative momentum.
About the company
株式会社第一ライフグループ is a Japanese listed company. Its reportable segments include Domestic Insurance Business, Overseas Insurance Business, Other, Description Of.
- Domestic Insurance Business
- Overseas Insurance Business
- Other
- Description Of
- Explanation Of Measurements Of Sales Profit Loss Asset Liability And Other Items For Each
Segments Domestic Insurance Business · Overseas Insurance Business · Other · Description Of · Explanation Of Measurements Of Sales Profit Loss Asset Liability And Other Items For Each
Compare trends
Tel 03-3216-1222 · As of filing date 2026-06-16
Financial statements
Income statement
| Account | FY2025 (ended Mar 31, 2025) | FY2026 (ended Mar 31, 2026) |
|---|---|---|
| Revenue | — | — |
| Cost of sales* | — | — |
| Gross profit | — | — |
| Operating profit (loss) | — | — |
| Finance income | — | — |
| Finance costs | — | — |
| Income tax expense | ¥140.5B | ¥189.6B |
| Profit (loss) | ¥458.4B | ¥436.6B |
| Profit (loss) attributable to owners | ¥458.4B | ¥436.6B |
| Basic EPS (¥) | — | — |
Balance sheet
| Account | FY2025 (ended Mar 31, 2025) | FY2026 (ended Mar 31, 2026) |
|---|---|---|
| Cash and cash equivalents | ¥2.3T | ¥2.1T |
| Current assets | — | — |
| Non-current assets | — | — |
| Total assets | ¥69.4T | ¥74.2T |
| Short-term borrowings | — | — |
| Current liabilities | — | — |
| Non-current liabilities* | — | — |
| Total liabilities | ¥65.8T | ¥69.9T |
| Equity attributable to owners | — | — |
| Total equity | — | — |
Cash flow statement
| Account | FY2025 (ended Mar 31, 2025) | FY2026 (ended Mar 31, 2026) |
|---|---|---|
| Cash flows from operating activities | ¥592.6B | ¥792.2B |
| Cash flows from investing activities | — | — |
| Cash flows from financing activities | -¥73.6B | -¥127.2B |
| Net increase (decrease) in cash | -¥458.8B | -¥225.9B |
| Cash at end of period | ¥2.3T | ¥2.1T |
Five-year trends
Key metrics
| Metric | Trend | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|
| Operating profit | ¥590.9B | ¥387.5B | ¥539.0B | ¥755.7B | ¥753.7B | |
| Profit to owners | — | — | — | ¥458.4B | ¥436.6B | |
| Total assets | ¥65.9T | ¥61.7T | ¥67.4T | ¥69.4T | ¥74.2T | |
| Cash & equivalents | — | — | ¥2.8T | ¥2.3T | ¥2.1T | |
| Owners’ equity | ¥4.2T | ¥2.7T | ¥4.0T | ¥3.6T | ¥4.3T |
How we read these numbers
From the notes
No material one-offs extracted from this filing.
Mixed
The numbers send mixed signals — dig into cash flow and leverage before drawing a conclusion.
On the income statement, revenue moved from — to — (—), so the top line did not break. Gross profit only slipped from — to —, while operating profit swung from — to — — the damage is concentrated below gross profit.
Cash tells a different story than earnings. Operating cash flow was still ¥792.2B (prior ¥592.6B), and cash on the balance sheet rose to ¥2.1T from ¥2.3T. When profits collapse but operating cash stays positive, read the notes for impairments and other non-cash charges before assuming the business stopped generating cash.
Goodwill on the balance sheet fell from ¥328.4B to ¥302.3B, consistent with heavy write-downs of past acquisitions’ carrying values.
The balance sheet got heavier on leverage. Total liabilities rose to ¥69.9T while owners’ equity fell to —. ROE moved from 12.0% to 11.1%, and the equity ratio from 5.2% to 5.7%. Employee count is 60,138 vs 60,814 a year earlier.
Liquidity & leverage
Short-term borrowing levels look more stable year over year.
Capital buffer
Capital structure held relatively steady.
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Source: EDINET S100YC7A
(株式会社第一ライフグループ), period end 2026-03-31.