Tokio Marine Holdings will split each share of its common stock into 15 on October 1, 2026, lifting its outstanding share count from 1.934 billion to 29.01 billion shares. The record date for the split is September 30, 2026, with a formal record-date notice due September 15. To make room for the additional shares, the insurer is also raising the authorized share ceiling in its articles of incorporation from 8 billion to 100 billion shares, effective the same day.
The declared purpose is to lower the per-unit price of Tokio Marine stock and widen its investor base under the company's Aspiration 2035 growth plan. A cheaper minimum lot makes the stock easier to buy for individual investors who previously needed a larger outlay for a round lot.
A perk with a three-year lock
Tokio Marine is pairing the split with its first shareholder loyalty programme. Anyone holding at least 100 shares continuously for three years or more will receive ¥7,500 worth of electronic money or similar vouchers as a first-time reward, then ¥2,500 a year after that for as long as the 100-share position is maintained. The programme's first record date is March 31, 2027, and continuity is checked twice a year, on March 31 and September 30; a holder needs to appear under the same shareholder registration number across seven consecutive checks to qualify for the first payout. If a sale breaks continuity under the same shareholder registration number, the earlier holding period is not counted toward that total.
Dividend forecast: a split adjustment, not quite identical
Because the split multiplies the share count by 15, Tokio Marine also revised its year-end dividend forecast for the year ending March 2027, cutting the projected year-end payout from ¥122.5 to ¥8.17 per share. That is not a dividend cut: on a pre-split basis the ¥8.17 figure is equivalent to ¥122.55, and combined with the unchanged second-quarter dividend of ¥122.5, the pre-split-equivalent full-year total comes to ¥245.05, close to but not identical to the ¥245 forecast the company gave on May 20. Tokio Marine's own filing describes the revision as substantively the same amount as the earlier forecast, not an exact match. The year to March 2026 paid out ¥218 in total dividends per share.
| Dividend metric | Previous forecast (May 20, 2026) | Revised forecast (Aug 25, 2026) | Pre-split equivalent |
|---|---|---|---|
| Second quarter-end dividend | ¥122.5 | ¥122.5 | ¥122.5 |
| Year-end dividend | ¥122.5 | ¥8.17 | ¥122.55 |
| Full-year total | ¥245 | not stated | ¥245.05 |
Buyback cap: more shares, same yen
The split also forced a technical change to Tokio Marine's buyback programme, first announced on May 20. The maximum number of shares the company can repurchase rises from 130 million to 1.95 billion, matching the 15-for-1 ratio, but the total spending cap stays at ¥200bn and the buyback window is unchanged, running from May 21 to December 23, 2026. The larger share-count ceiling is an artifact of the split, not a bigger repurchase commitment: Tokio Marine will spend the same amount of yen on stock either way.