Nippon Life Insurance recorded a ¥70 billion impairment loss for the year ended March 31 amid the bond market decline.
Nippon Life Insurance, Japan's largest life insurer, booked an impairment loss of ¥70 billion ($440 million).
This is the company's first such loss during the current bond rout.
The write-down applies to the fiscal year that ended on March 31.
Honda Motor has posted its first annual loss since 1957, recording 423 billion yen or $2.68 billion for the financial year that ended in March. The company confirmed the figures on May 14, attributing the shortfall mainly to heavy spending on electric vehicles.
Reported by AI
Japanese companies issued ¥1 trillion worth of convertible bonds in the first half of the year, the highest amount since 2004.
Japan's benchmark Nikkei 225 index rose above 65,000 for the first time on May 25 as expectations grew that a deal might be reached to end the military conflict between the United States and Iran.
Reported by AI
Japan's Nikkei 225 Stock Average surged 5.6 percent to close at a record 62,833.84 on optimism about a potential U.S.-Iran agreement.