Finance History | Dai-ichi Life — Japan's First Mutual, Then the GHQ Building
· 1902-9
Unreviewed contributionBy kevin · · Report an issue
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Finance History | Dai-ichi Life — Japan's First Mutual, Then the GHQ Building
kevin
People treat Dai-ichi Life as a Hibiya glass tower that always listed on the TSE.
The first company was a mutual, and the first pamphlet explained why.
On 15 September 1902 Tsuneta Yano established Dai-ichi Mutual Life Insurance Company, Japan's first mutual life office.
The group's own history records that Yano first published Characteristics of My Company to argue for policyholder ownership, then opened the books in Nihonbashi.
Dividend payments to policyholders began in 1906.
After the Great Kanto Earthquake of 1923 the company paid claims promptly even though a government moratorium allowed banks and insurers to delay.
By 1932 sums insured had reached 1 billion yen in 1932 currency, and Dai-ichi ranked second in the domestic life market.
In 1938 the firm moved into the Dai-ichi Life Building at Hibiya.
From 1945 that building housed GHQ, the Allied occupation headquarters, for about seven years.
DN Tower 21 later rose on the same Yurakucho block and remains the public headquarters frontage at 1-13-1 Yurakucho.
The mutual demutualized and listed on 1 April 2010.
Pin the Hibiya sidewalk at DN Tower 21.
Describe only what is visible from the street.
What survived is a 1902 mutual that outlived occupation of its own hall, then converted the policyholders into shareholders.
Photo: DN Tower 21, via Wikimedia Commons.
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