The best time to plant a tree was 20 years ago. The second best time is now. Same goes for Life Insurance! 🌳🛡️ #ArborDay #PlantingForFuture #LifeInsurance
Nippon Life booked ¥500bn in domestic bond losses in H1 FY2025. Same firm posted a record ¥1.01tn in basic profit. Both numbers, same balance sheet.
Headlines call the ¥13tn sector-wide bond losses a crisis. The balance sheets say something else — the first time in thirty years that rolling bonds at 3%-plus beats locked-in liabilities.
New post on the J-curve, Daiichi (8750) and T&D (8795):

Four firms carry ¥13tn in unrealised bond losses. Headlines call it a crisis. The balance sheets tell a different story – the first time in thirty years that rolling bonds at 3%-plus beats locked-in liabilities.