Japan Post Insurance said unrealized losses on a defined slice of its bond holdings reached ¥5.045tn at the end of its second quarter, September 30, 2026, and that it is leaving its full-year earnings and dividend forecasts untouched. The company disclosed the figure in a notice on valuation losses on securities dated October 28.
What the figure covers
The ¥5.045tn is not the whole portfolio. The notice limits it to bonds classified as held to maturity and bonds held against policy reserves, and only those listed on a domestic financial instruments exchange. Those securities carry a book value of ¥26.52tn and a market value of ¥21.48tn.
The company also gave two comparisons. The loss equals 1855.3% of consolidated ordinary profit of ¥271.9bn for the year to March 2026, and 2989.0% of profit attributable to owners of the parent of ¥168.8bn for that year.
Gross versus net
The headline number is a gross loss. The same notice lists unrealized gains of ¥20.9bn on the same categories at September-end, which leaves a net unrealized loss of about ¥5.025tn. The source gives the net figure as ¥5,024,588 million, so the gap between the two measures is the offsetting gains. Readers comparing this insurer with other companies should check which measure each uses.
Forecasts unchanged
Japan Post Insurance said its consolidated forecasts for the year from April 1, 2026 to March 31, 2027 are, for now, unchanged from those announced on May 15, 2026. It added that it will disclose promptly any matter that later requires it.
The notice reports valuation differences between book and market value. It does not say the losses have been realized, and it does not discuss solvency or capital.