I would like to begin this message by remembering with sadness all those who lost their lives in the Noto Peninsula Earthquake of 2024. I offer my sincere sympathy to their families and to everyone affected by the disaster. Employees of the Japan Post Group are continuing to work together to support the restoration of the affected areas. In February 2024, I visited the area to encourage our employees. I was really heartened to see their commitment to our social mission as a life insurance company, as they worked hard and engaged closely with the local community. As a member of the Japan Post Group, Japan Post Insurance will continue to support reconstruction efforts based on the essence of life insurance and our purpose in society, of providing peace of mind to customers.

On year one as President
Toward a corporate culture where employees take on challenges without fear of failure and with a spirit of striving for the Company

It has been around one year since I assumed the role of president in June 2023. Amid issues, such as the need to strengthen our sales force and maintain and expand policies in force, I made three main points in my inaugural address to all employees. The first is that I want us to be inspired by the heritage of Japan Post Insurance. Over a century, our company has dedicated itself to furthering Japan’s economy and culture and providing citizens with peace of mind. We should draw confidence and pride from that, carrying out our work with a sense of boldness. Second, I want us to be a strong company that thoroughly fulfills both our social mission as a life insurance company and our responsibilities to customers. Third, I want us to always have a feeling of respect in our communications with customers and colleagues.
Since taking office, I have seen positive signs gradually emerge. The regular reporting obligation based on the order to improve business operations was lifted at the end of December 2023. Since then, our business environment has changed for the better in various ways. From January 2024 we launched sales of lump-sum payment whole life insurance, which has been well-received by many customers. We also resumed presenting proposals to elderly customers. I see our team efforts throughout the Company to revitalize Japan Post Insurance steadily taking shape.
This has also been reflected in the results of our employee satisfaction survey (ES survey), and a January 2024 survey showed a significant increase in scores from the previous survey. In particular, I was delighted to see the improved evaluations in the Retail Service Division, to which our consultants (employees who work mainly by visiting customers’ homes) belong.
I joined what was then the Ministry of Posts and Telecommunications after graduating from university. That was forty years ago. When I was 29, I became the director of a post office in Hyogo Prefecture. That year of serving as director taught me the challenges of being a leader who makes critical decisions daily, and the importance of addressing problems head-on. On one occasion, mail deliveries were disrupted by heavy snowfall, and we had to rely on support from other post offices nearby. Some of my more experienced colleagues who came in to support us said to me that they were doing it not to save the young director of the post office, but rather to uphold the reputation of the post office. Their words have stuck with me throughout the years.
Having been through these experiences, I hold dear one phrase, “for the Company.” I believe that if each of our 20,000 employees feels a connection to the company and works with the aim of improving the company even a little, Japan Post Insurance will become a strong and reliable company trusted by our customers. We are creating an environment that supports and recognizes efforts to take on challenges to improve the company, even if they end in failure, as these can be linked to our next success. We can never advance if we shy away from failure. We will create a corporate culture that enables our employees to take on challenges without fear of failure.

Revision of Medium-Term Management Plan
Becoming a strong company that grows sustainably while retaining and expanding our customer base

In May 2024, we reviewed our Medium-Term Management Plan (FY2021-FY2025). In the interim period of our five-year plan, we re-evaluated our efforts and refined our management strategy, taking into account changes in our external and internal environments, such as rising interest rates and the resumption of solicitations to elderly customers, respectively.
Our existing Medium-Term Management Plan set out the pillars of “reconstruction as a company truly trusted by its customers” and “sustainable growth.” Our revised plan now positions our future growth strategies of retaining and expanding our customer base and becoming a strong company that grows sustainably as strategic pillars.

Toward retaining and expanding our customer base
Valuing the voices of employees in the front-line employees will lead to company growth

As part of the reform of our sales system in April 2022, we welcomed approximately 10,000 consultants from Japan Post Co., Ltd. These consultants, alongside our employees engaging in whole sales at our branches, are the key personnel in our efforts to retain and expand our customer base. Furthermore, in July 2023, we introduced the Kampo GD System as a new human resource development system. This system evaluates achievements in sales activities, not only for performance but also in a more comprehensive and quantitative way. We are already seeing huge improvements in human resource development and motivation.
I believe that the front-line employees is a reflection of the company and what happens there in turn is what is happening at the company. To that end, we continue to hold “Front-line Meetings” where management and our frontline employees have a discussion. I make sure to visit sites all over the country every month so that I can understand what problems our employees are having and try to help solve them even a little. For example, right after the launch of a new product, I heard from one of our consultants that the number of telephone confirmations required for applications had risen sharply. On the same day, I contacted the officers in charge, and by the next day, related officers and senior general managers drew up an action plan. Within two days, we managed to put in place an environment that enabled smoother telephone confirmations.

Becoming a reliable and casual advisor for our customers
Offering products that meet customer needs and enhancing after-sales follow-up services

To retain and expand our customer base, with customer-oriented business operations in mind, we will continue to expand our product lineup to meet diverse customer needs and enhance after-sales follow-up services that deliver in terms of both quality and quantity.
To enhance our product lineup, in addition to the lump-sum payment whole life insurance that we launched in January 2024, we are also considering other future products in line with the emerging needs of an age of the 100-year life, including insurance with coverage for cases requiring nursing care and incapacity to work. We will continue to expand our product lineup using the power of insurance to offer meticulous support and protection throughout our customers’ lives in line with any changes in their life events.
Regarding our after-sales follow-up services, we aim to improve the customer experience value (CX) by utilizing both physical and digital means. We will achieve this by focusing on the provision of useful information and resolution of problems, etc. based on a timely understanding of the situations of our customers and their families.
As a major player with one of the largest customer bases in the industry, we have many customers whose policies are approaching maturity. While providing seamless coverage for these customers, we will also continue to provide peace of mind to their families across life stages and generations through our efforts to expand our product lineup and enhance our after-sales follow-up services. Furthermore, we will strive to retain and expand our customer base by maintaining connections with our customers as a reliable and casual advisor.

Becoming a strong company that grows sustainably
Promoting new initiatives that reinforce our management base to fulfill our responsibilities to our customers

One of the two pillars of our growth strategies, becoming a strong company that grows sustainably, also has the double meaning of reinforcing our management base to fulfill our responsibilities to customers.
To achieve this, we will first and foremost aim to strengthen our sales force by maximizing the strengths of our human resources who support the face-to-face channels, such as our nationwide post office network. This will be done through proactive recruitment, which will strengthen our organizational structure, alongside our human resources development efforts through the Kampo GD System, which I mentioned earlier.
Regarding asset management, as we work to improve profitability that responds to changes in the market environment, we also aim to broaden the scope of our business with the goal of diversifying revenue sources and creating new growth opportunities. We will tap into a range of domestic and international partnerships, such as the capital and business alliance with Daiwa Securities Group that we announced in May 2024. At the same time, by promoting sustainable investments, we will aim to solve social issues while also fulfilling our responsibilities as an institutional investor.
In addition, by promoting DX (digital transformation), we will aim to boost the efficiency of business operations while also improving CX. For example, when accepting in-person claims from our customers, by replacing the use of paper hardcopy documents with tablets, we are helping reduce the burden of resolving potential deficiencies, such as the large amount of time needed to complete our customers’ applications or rectifying omissions in the required information, thereby reducing the work needed in back-office operations for confirmation procedures and so forth. Efficiency improvements like this have enabled our internal human resources to be reskilled and assigned to other departments where they are needed. We see this as an important initiative for using human capital.

Our vision for the future
Aiming to build Japan Post Insurance into the most trusted and recognized brand in Japan

Our corporate value originates from the trust of our customers. We will continue to work together as team to establish Japan Post Insurance brand as “post office insurance,” making us the most trusted and recognized brand in Japan.
At the press conference in April 2023 when I was offered the position of president, I mentioned that my mission was to revitalize Japan Post Insurance. One year on, thanks to the hard work of each of our employees, I believe that we have taken the first step. Going forward, we will continue to steadily deliver on the Japan Post Insurance social mission: “We will remain trusted and selected by customers, thereby protecting their lives by providing life insurance product.” Thank you for your continued support as we continue our journey toward a new stage.