Usen-Next Holdings to establish reinsurance and agency subsidiaries
Usen-Next Holdings Co., Ltd. (TSE: 9418) today announced plans to establish a captive reinsurance subsidiary, U-Reinsurance Management Co., Ltd., located in the Federated States of Micronesia, with a capital of ¥200 million, and a new insurance agency, U-Insurance Agency Co., Ltd., based in Tokyo, with a capital of ¥5 million. Both subsidiaries are scheduled to begin operations on July 1, 2025, and will be wholly owned by Usen-Next Holdings. U-Reinsurance Management will focus on reinsurance activities, while U-Insurance Agency will provide insurance agency services and management outsourcing. The company expects the establishment of these subsidiaries to strengthen risk management, improve profitability, and enhance retained earnings. Usen-Next Holdings anticipates the impact on its consolidated operating results for the fiscal year ending August 31, 2025, will be immaterial.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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