Solution and OtherThin moat

Tokio Marine Holdings (8766) — moat facet

Tokio Marine's non-insurance services are small and growing through an engineering acquisition.

Solution and other's ordinary profit was ¥8.0 billion in the year to March 2023, ¥9.1 billion in 2024, ¥8.0 billion in 2025 and ¥21.4 billion in 2026123. Its ordinary income nearly tripled, from ¥107.7 billion to ¥285.6 billion4, as Tokio Marine consolidated Integrated Design & Engineering Holdings, in which it holds 85.8%5.

Solution and other ordinary profit (¥ bn, years to March)8.020239.120248.0202521.42026Japanese GAAP; Tokio Marine results, 2023-2026
A jump with the ID&E consolidation.

The segment was formerly called financial and other.

On the IFRS adjusted basis the solution business earned ¥14.1 billion in the latest year6 and is planned at ¥17.0 billion7. The first quarter earned ¥1.5 billion, 9% of the plan89.

Integrated Design & Engineering Holdings is the largest part of the segment's growth. The company's plan for the solution business is ¥17.0 billion of adjusted net income in the current year10, against ¥14.1 billion in the latest year11.

The measure is the plan. At ¥17.0 billion the segment is about 2% of the group; its value is in what it adds to insurance relationships.

Moat trajectory: Widening

Profit rose with the consolidation.

The number that tests this moat
Reported
Solution adjusted net income plan, year to March 2027
¥17.0bn against ¥14.1bn

The non-insurance services' target.

Source: Tokio Marine results presentation, May 2026 ↗
References
  1. ReportedSolution and other's ordinary profit was ¥8.0 billion in the year to March 2023, ¥9.1 billion in 2024, ¥8.0 billion in 2025 and ¥21.4 billion in 2026.
    Tokio Marine Holdings, Consolidated Financial Results for the fiscal year ended March 31, 2024 - including segment information for the year to March 2023. — FY to March 2024 · publ. May 2024 · source ↗
  2. ReportedSolution and other's ordinary profit was ¥8.0 billion in the year to March 2023, ¥9.1 billion in 2024, ¥8.0 billion in 2025 and ¥21.4 billion in 2026.
    Tokio Marine Holdings, Consolidated Financial Results for the fiscal year ended March 31, 2025 - including the expected credit losses on US commercial real estate loans. — FY to March 2025 · publ. May 2025 · source ↗
  3. ReportedSolution and other's ordinary profit was ¥8.0 billion in the year to March 2023, ¥9.1 billion in 2024, ¥8.0 billion in 2025 and ¥21.4 billion in 2026.
    Tokio Marine Holdings, Consolidated Financial Results (Japanese GAAP) for the fiscal year ended March 31, 2026 - ordinary income, net income, segment profit, dividends, cash flows and securities. — FY to March 2026 · publ. 20 May 2026 · source ↗
  4. ReportedIts ordinary income nearly tripled, from ¥107.7 billion to ¥285.6 billion, as Tokio Marine consolidated Integrated Design & Engineering Holdings, in which it holds 85.8%.
    Tokio Marine Holdings, Consolidated Financial Results (Japanese GAAP) for the fiscal year ended March 31, 2026 - ordinary income, net income, segment profit, dividends, cash flows and securities. — FY to March 2026 · publ. 20 May 2026 · source ↗
  5. ReportedIts ordinary income nearly tripled, from ¥107.7 billion to ¥285.6 billion, as Tokio Marine consolidated Integrated Design & Engineering Holdings, in which it holds 85.8%.
    Tokio Marine Holdings, Integrated Report 2025 Supplement - founding date, network, employees and subsidiaries. — March 2025 · publ. 2025 · source ↗
  6. ReportedOn the IFRS adjusted basis the solution business earned ¥14.1 billion in the latest year and is planned at ¥17.0 billion.
    Tokio Marine Holdings, FY2025 results and FY2026 projections presentation - adjusted net income, strategic equity sales, shareholder returns and the FY2026 plan. — FY to March 2026 · publ. May 2026 · source ↗
  7. ReportedOn the IFRS adjusted basis the solution business earned ¥14.1 billion in the latest year and is planned at ¥17.0 billion.
    Tokio Marine Holdings, FY2025 results and FY2026 projections presentation - adjusted net income, strategic equity sales, shareholder returns and the FY2026 plan. — FY to March 2026 · publ. May 2026 · source ↗
  8. ReportedThe first quarter earned ¥1.5 billion, 9% of the plan.
    Tokio Marine Holdings, Consolidated Financial Results (IFRS) for the three months ended June 30, 2026 - insurance revenue, net income, adjusted net income by segment and the balance sheet. — April-June 2026 · publ. 12 August 2026 · source ↗
  9. ReportedThe first quarter earned ¥1.5 billion, 9% of the plan.
    Tokio Marine Holdings, overview of first-quarter FY2026 results - progress against the plan, large losses, the Middle East, strategic equity sales and natural catastrophes. — April-June 2026 · publ. August 2026 · source ↗
  10. ReportedThe company's plan for the solution business is ¥17.0 billion of adjusted net income in the current year, against ¥14.1 billion in the latest year.
    Tokio Marine Holdings, FY2025 results and FY2026 projections presentation - adjusted net income, strategic equity sales, shareholder returns and the FY2026 plan. — FY to March 2026 · publ. May 2026 · source ↗
  11. ReportedThe company's plan for the solution business is ¥17.0 billion of adjusted net income in the current year, against ¥14.1 billion in the latest year.
    Tokio Marine Holdings, FY2025 results and FY2026 projections presentation - adjusted net income, strategic equity sales, shareholder returns and the FY2026 plan. — FY to March 2026 · publ. May 2026 · source ↗
Sources
Generated September 24, 2026