131203MSAD_e
15/26 Capital Management (1) MSI Primary Life Becomes a Wholly Owned Subsidiary
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00:11:42.6
Next, I would like to explain our major capital management policies that we have been implementing in the current medium-term management plan. Please take a look at page 12. We have made Mitsui Sumitomo Primary Life Insurance our wholly owned subsidiary. Let me describe that. In April 2011, we made an additional investment in MSI MetLife , which was a joint venture with a foreign company, to make it a wholly owned subsidiary. MSI Primary Life specializes in OTC sales at financial institutions of individual annuity insurance and has become a leading company in the market. As shown in the graph at left, MSI Primary Life has recorded net income of around 10 billion yen since FY2009, and its embedded value, which shows its business value, has been on a steady upward trend. MSI Primary Life has made significant contributions to increases in the Group’s income and corporate value, and the investment in MSI Primary Life has thus shown a high performance.
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