Latest Tokyo Brief coverage on JAPAN POST INSURANCE Co. , Ltd., tracking filings, financial news, and market signals from Japan.
TSE:7181
Japan Post Insurance is raising $1 billion offshore for 30 years to pad its capital base, fixing a 6.50% dollar coupon for the first decade and giving regulators, not the company alone, the final say on any early redemption from 2036.
Domestic held-to-maturity and policy-matching bonds at Japan Post Insurance carry an unrealized loss worth more than 26 times last year's net profit, yet the insurer says its earnings and dividend guidance for the year to March 2027 is unchanged.
Japan Post Insurance wants to hand decades-old, pre-privatization underwriting risk to a reinsurance vehicle SCOR would build and run, taking a stake capped below half the voting rights, but the companies have signed only a memorandum, not a final deal.