T&D (8795) Q4 2026 earnings summary

Executive summary

• Group adjusted profit for FY ended March 2026 reached a record ¥158.5 billion, up 13.1% year-over-year and surpassing forecasts, driven by strong domestic life insurance performance.

• Profit attributable to owners of parent rose 10.0% to ¥138.9 billion, supported by higher interest and dividend income.

• Dividend per share for FY2026 is expected at ¥130, up ¥50 year-over-year, marking the 11th consecutive annual increase.

• FY ending March 2027 forecasted group adjusted profit is ¥172.0 billion, up ¥13.4 billion year-on-year.

• Comprehensive income surged to ¥373.9 billion from a loss of ¥1.5 billion in the prior year.

Financial highlights

• Adjusted EPS increased 19.1% year-on-year, aided by share buybacks.

• Core profit in the domestic life insurance business surged 48.0% year-over-year to ¥239.8 billion.

• Investment income jumped 53.2% to ¥747.9 billion; insurance premium income rose 2.2% to ¥2,635.7 billion.

• Dividend per share for FY ending March 2027 is forecast at ¥164, up ¥34, marking the 12th consecutive year of increases.

• Domestic and foreign equities worth ¥296 billion were sold; interest income from yen bond replacement increased by ¥6.5 billion.

Outlook and guidance

• Group adjusted profit for FY ending March 2027 expected to rise to ¥172.0 billion; adjusted ROE forecast at 11%.

• Dividend per share for FY ending March 2027 projected at ¥164.

• FY2027 ordinary revenues are forecast at ¥3,000.0 billion, down 13.8%; ordinary profit expected at ¥235.0 billion, down 8.6%.