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MS&AD Insurance, Ordinary Profit Forecast for the Fiscal Year Revised Upward by 3%

Wed Nov 19, 2025 4:30 pm JST Earnings

8725 MS&AD Insurance Group Holdings, Inc. 【J-GAAP】

Earnings Report

MS&AD Insurance Group Holdings, Inc. <8725> [TSE Prime] announced its financial results after the market closed on November 19th (16:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2026 (April to September) increased 3.6% from the same period last year, reaching 653 billion yen.

In addition, the full-year forecast for consolidated ordinary profit has been revised upward 3.5%, from the previous forecast of 806 billion yen to 834 billion yen (compared to 928 billion yen in the previous period), and the declining rate is expected to decrease from 13.2% to 10.2%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to drop 39.4% from the same period last year to 180 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew 10.9% from the same period last year, reaching 368 billion yen.

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Actual Results

Accumulated Results 2nd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Apr - Sep, 2023 3,628,542 ー 131,413 87,511 54.8 31.6 Nov 17, 2023 J-GAAP
Apr - Sep, 2024 3,447,807 ー 630,802 458,987 290.1 67.9 Nov 19, 2024 J-GAAP
Apr - Sep, 2025 4,111,516 ー 653,351 491,674 326.9 78.3 Nov 19, 2025 J-GAAP
YoY +19.3% － +3.6% +7.1% +12.7%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Apr - Sep, 2025 Guidance ー ー ー ー － 77.50 May 20, 2025 J-GAAP
Apr - Sep, 2025 Results 4,111,516 ー 653,351 491,674 326.9 77.50 Nov 19, 2025 J-GAAP
Revision Rate － － － － －

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev ー ー 806,000 579,000 390.3 155 May 20, 2025 J-GAAP
Mar, 2026 New ー ー 834,000 590,000 397.7 155 Nov 19, 2025 J-GAAP
Revision Rate － － +3.5% +1.9% +1.9%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2024 3,213,006 ー 298,187 232,670 149.9 72.50 May 20, 2025 J-GAAP
Oct - Mar, 2025 Guidance ー ー 180,649 98,326 66.3 77.50 Nov 19, 2025 J-GAAP
YoY － － -39.4% -57.7% -55.8%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 6,572,889 ー 416,440 369,266 231.8 90 May 20, 2024 J-GAAP
Mar, 2025 6,660,813 ー 928,989 691,657 445.5 145 May 20, 2025 J-GAAP
Mar, 2026 Guidance ー ー 834,000 590,000 397.7 155 Nov 19, 2025 J-GAAP
YoY － － -10.2% -14.7% -10.7%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 1,510,645 ー 332,178 254,717 161.0 0.0 Nov 19, 2024 J-GAAP
Oct - Dec, 2024 1,781,932 ー 194,062 167,080 106.8 0.0 Feb 14, 2025 J-GAAP
Jan - Mar, 2025 1,431,074 ー 104,125 65,590 42.3 0.0 May 20, 2025 J-GAAP
Apr - Jun, 2025 2,020,318 ー 284,841 222,787 147.4 0.0 Aug 8, 2025 J-GAAP
Jul - Sep, 2025 2,091,198 ー 368,510 268,887 178.8 0.0 Nov 19, 2025 J-GAAP
YoY +38.4% － +10.9% +5.6% +11.0%

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