Taisuke Nishimura
Executive Officer & Group CFO

Well, thank you very much for coming to our call. So today, we disclosed the first quarter results. So I’m going to give you some explanations on the results.

Please go to Page 3. So these are the main points for our results. Regarding the bottom line, Group adjusted profit is JPY 158.1 billion. It’s about JPY 84 billion higher than the number the previous year. The last year, due to the bond rebalancing, profit level was quite low. So we had 113% increase this year. And our progress rate for full year outlook is about 28%.

For Domestic Business, higher positive spread in DL and higher gain from sale of domestic equities drove the better results. Particularly because of the yen portfolio rebalancing, the Group’s fundamental earning power has been improving.

Now regarding the top line, Well, the Group’s new business ANP was JPY 135 billion, 6.7% higher compared to the same period of last year. If you exclude FX impact, that’s 3.9% increase. Sales in DL was steady and PLC’s retirement business saw outperforming fixed annuity sales, and TAL benefited from Group business contract renewals. And sales momentum for the Group as a whole is quite steady.

On the other hand, if you look at the value of new business for 3 domestic companies, Daiichi Life, the new business margin has been lower because of the inflation. So it resulted in lower results from the — or than the original estimate.

Now economic value. Group EV increased from the previous term. ESR-wise, because of the acquisition of the company portfolio and investment in M&G and also higher mass

This article was written by

Follow

Analyst’s Disclosure: I/we have a beneficial long position in the shares of EPR either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Beyond Saving, Philip Mause, and Hidden Opportunities, all are supporting contributors for High Dividend Opportunities. Any recommendation posted in this article is not indefinite. We closely monitor all of our positions. We issue Buy and Sell alerts on our recommendations, which are exclusive to our members.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Household affordability challenges are leading some consumers to consider refinancing their auto loans to save money on monthly payments.

Stephanie Roberts, director of auto products at PenFed Credit Union, told FOX Business that expanded access to credit terms has allowed consumers to more easily check the rates available to them as they consider refinancing.

“I think consumers from a credit education standpoint are more educated than ever on the health of their credit, so they’re taking out those refinances,” Roberts said, noting that many banking and personal finance apps give consumers access to their credit scores.

“A lot of lenders, PenFed included, are allowing for consumers to check their rate by way of soft pull… without any impact to their credit score or promises that I’m going to go through this process, and I think that’s why a lot of people are now seeing that refinance is a fruitful option for them, where it hadn’t been like that in the past,” she said.

AVERAGE NEW CAR PAYMENT REACHES ALL-TIME HIGH AS AFFORDABILITY ISSUES PERSIST

PenFed’s Stephanie Roberts explained that refinancing auto loans may make sense for consumers looking to lower monthly payments or tap into their car’s equity. (iStock)

Roberts said that PenFed is “proactively going after consumers where we can see that your rate is higher than what we have to offer in a pre-approval process,” adding that, “As a credit union, we care about our members’ financial health, so we really want them to save money when they can, where they can.”

“It doesn’t sound like a lot initially, but when you think about it over the life of the rest of the loan, it really does add up,” she said, noting that inflation is squeezing household budgets for necessities like groceries and gas. “That $100 can go a long way when it comes to monthly expenses.”

THE $10,000 CAR LOAN TAX DEDUCTION: HERE’S WHO QUALIFIES AND HOW TO CLAIM IT

Car owners should look at the value of their car and their equity in it when assessing whether it makes sense for them to refinance. (iStock)

Improvements in the durability of vehicles have also made refinancing auto loans more viable, as cars are able to hold more of their value and stay operational longer.

“Cars are staying on the road longer than they ever have. Right now, the life of a car is about 13 years, there’s just been enhancements in technology and engines and things that are keeping them on the road,” Roberts said.

She said that affordability challenges with purchasing new cars are also contributing to consumers keeping their cars longer, so refinancing is “naturally coming into play as an option.”

TREASURY IMPLEMENTING TRUMP’S CAR LOAN INTEREST TAX BREAK: ‘PUTTING MONEY BACK IN THE POCKETS’

Auto loans can be refinanced by consumers, who may see lower rates and monthly payments by reworking the terms of the loan. (iStock)

Roberts outlined the steps a person considering refinancing an auto loan should consider before making any commitments.

“The very first thing that you should do is look at the value of your car,” she said, noting that there are a range of free tools that allow consumers to check. That process allows them to see if it makes sense financially to refinance their car “because if you owe more than the value, it becomes a harder conversation.”

She said the second thing consumers should do is look at their pre-approval options to see if their options for interest rates are lower than what they are paying. That will allow them to consider whether refinancing makes sense given their equity position in the vehicle.

Roberts added that consumers ought to consider whether a loan term extension would make sense for them in the refinancing process, as it may allow them to save more on payments if it makes sense given the car’s initial valuation.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

Some lenders, including PenFed, offer a cash-out refinancing option, which Roberts added can even take the form of a title loan for paid-off vehicles. That can make sense for consumers who are looking at either a personal loan or using their credit card as an alternative to taking the equity out of the car, she said.

Mitsuru Shomon
Executive Officer & Executive GM of Corporate Management Unit

My name is Shomon, and I will now present the financial results for the first quarter of the fiscal year ending March 2027. First, please turn to Page 1. This page summarizes the key points of our earnings announcement regarding the overview. Revenue increased due to a recovery in musical instrument sales and a weakening yen. Despite higher procurement costs, core operating profit increased, driven by an improved product mix resulting from growth in digital musical instruments, price optimization and favorable exchange rates.

Regarding our full year earnings outlook, while uncertainties remain, such as rising procurement costs and the situation in the Middle East, we are maintaining our previous forecast for May 2026 for revenue and core operating profit, supported by further price optimization efforts and a weaker yen. However, we are revising our net profit forecast upward from the previous estimate following the refund of U.S. tariffs. Please turn to the next page.

The performance summary is next. Please turn to the next page, Page 3. This is the business performance summary. Revenue was JPY 116.3 billion, an increase of JPY 12.4 billion from the previous year, representing a 12% rise. Excluding the impact of exchange rates, revenue increased by 2.9% from the previous year. Core operating profit was JPY 9.3 billion, an increase of JPY 4.6 billion from the previous year or 97.7%.

Net profit was JPY 10.7 billion. This includes JPY 4.3 billion in other income representing U.S. tariff refunds that have already been completed or finalized, resulting in an increase of JPY 8.3 billion from the previous year, a 348.8% rise or

This article was written by

Follow

Analyst’s Disclosure: I/we have a beneficial long position in the shares of PSA.PR.N either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

This article was written by

Follow