Tokio Marine Holdings (8766) Q1 2027 earnings summary

Executive summary

• Total business volume and insurance revenue grew 12% YoY, with international operations driving growth and total assets rising to ¥33,676.9 billion as of June 30, 2026.

• Adjusted net income declined 3.6% YoY to ¥261.4 billion, while net income attributable to owners increased 3.3% YoY to ¥264.3 billion.

• Adjusted EPS for the quarter was ¥137–¥138.16, compared to ¥141 in the prior year.

• Comprehensive income surged to ¥375.4 billion, a 103% increase YoY.

• International business drove growth, while Japan P&C saw a decline in NWP and was behind plan due to large losses in liability insurance.

Financial highlights

• Total business volume reached ¥2,406.0 billion (+12% YoY), with international operations contributing ¥1,355.0 billion (+19% YoY).

• Insurance service result increased by ¥36.3 billion to ¥351.6 billion YoY; finance result rose by ¥31.8 billion to ¥154.0 billion YoY.

• Adjusted net income was ¥261.3–¥261.4 billion (-3.6% to -4% YoY), with international adjusted net income at ¥164.3 billion (+9% YoY) and Japan at ¥98.8 billion (-15% YoY).

• Group adjusted net income progress toward full-year guidance was 28%.

• Earnings per share (basic) was ¥138.25, up from ¥133.49 YoY.

Outlook and guidance

• FY2026 full-year adjusted net income guidance is ¥950.0 billion, with 1Q progress at 28%.

• FY2026 net income attributable to owners forecast at ¥830.0 billion, up 56.2% from prior year.

• FY2026 basic EPS guidance is ¥441.83; adjusted EPS is ¥514.

• Annual dividend forecast raised to ¥245 per share.

• International business expected to continue driving growth, with robust underwriting and investment income.