July 28, 2014 12:31 PM ET

Insurance

Company Overview of AFLAC Japan

Company Overview

AFLAC Japan provides insurance services. It offers cancer plans, care plans, general medical expense plans, and medical/sickness riders. The company was founded in 1974 and is based in Tokyo, Japan. AFLAC Japan operates as a subsidiary of AFLAC Inc.

2-1-1 Nishi-Shinjuku Shinjuku-ku

Tokyo,  163-0456

Japan

Founded in 1974

Phone:

81 3 5908 6411

Fax:

81 3 5908 6412

Key Executives for AFLAC Japan

President and Chief Operating Officer
Executive Chairman of Aflac Incorporated and Chief Executive Officer of Aflac Incorporated
Age: 62
President of Aflac and Chief Operating Officer of Aflac US
Age: 38
President of Aflac Incorporated and Chief Financial Officer of Aflac Incorporated
Age: 67
Chief Investment Officer and Senior Vice President
Compensation as of Fiscal Year 2014.

AFLAC Japan Key Developments

AFLAC Japan Reports Unaudited Earnings Results for the First Quarter Ended March 31, 2014

AFLAC Japan reported unaudited earnings results for the first quarter ended March 31, 2014. In yen terms, the company’s premium income rose 1.4% in the first quarter. Net investment income increased 9.4%. Investment income growth was magnified by the weaker yen/dollar exchange rate because approximately 45% of the company’s first quarter investment income was dollar-denominated, compared with 40% a year ago. Total revenues were up 2.2% in the first quarter. The pretax operating profit margin increased in the first quarter to 22.0% from 21.5% in the prior year. Pretax operating earnings in yen increased 4.6% on a reported basis and 1.5% on a currency-neutral basis. The company’s growth rates in dollar terms for the first quarter were suppressed as a result of the weaker yen/dollar exchange rate. Premium income decreased 8.8% to $3.6 billion in the first quarter. Net investment income was down 1.7% to $663 million. Total revenues decreased 8.1% to $4.2 billion. Pretax operating earnings declined 5.7% to $933 million.

AFLAC Japan and Japan Post Holdings Co., Ltd. Sign New Agreement to Expand Distribution

AFLAC Japan and Japan Post Holdings have entered into a new agreement, further expanding their partnership that was initially established in 2008. Aflac Japan will remain the exclusive provider of cancer insurance distributed through post offices nationwide across Japan. Through this alliance, Japan Post Holdings intends to expand the number of post offices that offer Aflac's cancer products, gradually increasing from 1,000 postal outlets to 20,000 outlets. Also, subject to regulatory approval, Japan Post Insurance (Kampo) will enter into an agency contract with Aflac Japan to begin distributing Aflac Japan's cancer insurance products at all of Kampo's 79 directly managed sales offices. Upon consultations with Japan Post group, Aflac Japan will consider developing an exclusive cancer product for both Japan Post and Kampo. Japan Post group consists of Japan Post Holdings and its three operating subsidiaries: Japan Post Co., Ltd.; Japan Post Insurance Co., Ltd. (Kampo); and Japan Post Bank Co., Ltd.

AFLAC Japan Reports Earnings Results for the First Quarter of 2013; Provides Third Sector Products Sales Guidance for 2013

AFLAC Japan reported earnings results for the first quarter of 2013. Total revenues in yen were up 9.7% in the first quarter of 2013. Premium income in yen rose 9.8%. Net investment income increased 7.3%. Investment income growth in yen terms was magnified by the weaker yen/dollar exchange rate because approximately 40% of Aflac Japan's first quarter investment income was dollar-denominated. The pretax operating profit margin increased slightly over the first quarter of 2012, improving from 21.3% to 21.5%. Pretax operating earnings in yen increased 10.7%. For the first quarter, Aflac Japan's results in dollar terms were suppressed by the weaker yen/dollar exchange rate. Reflecting the weaker average yen in the first quarter, premium income in dollars decreased 5.9% to $3.9 billion. Net investment income in the first quarter was $674 million, or 7.6% lower than 2012. Total revenues decreased 5.9% to $4.6 billion. Pretax operating earnings declined 4.8% to $989 million. In the first quarter, total new annualized premium sales rose 2.6% to ¥53.8 billion, or $578 million. Third sector sales, cancer and medical products combined, decreased 7.1% in the quarter. The company continues to expect sales of third sector products will be flat to up 5% for the year.

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