Japan SoftBank $10.2 Billion Digital Payments Company PayPay Buys 70.2% Stake in Japan Life Insurance Company T&D Financial Life Insurance for $836 Million (JPY 134 Billion) from Japan $13 Billion Insurance Group T&D Holdings in All-Cash Deal, T&D Financial Life Insurance Formed in 2001 from the Reorganization of Tokyo Life Insurance Mutual Company, PayPay Founded in 2018 as Joint Venture Between SoftBank & Yahoo Japan
6th June 2026 | Hong Kong
Japan SoftBank digital payments company PayPay ($10.2 billion market value) has announced to buy 70.2% stake in Japan life insurance company T&D Financial Life Insurance for $836 million (JPY 134 billion) from Japan insurance group T&D Holdings ($13.3 billion market value) in all-cash deal. T&D Financial Life Insurance was formed in 2001 from the reorganization of Tokyo Life Insurance Mutual Company. PayPay was founded in 2018 as joint venture between SoftBank and Yahoo Japan. Announcement (4/6/26): “PayPay Corporation (“PayPay”) hereby announces that, at a meeting of its Board of Directors held on June 4, 2026, PayPay resolved to acquire 70.2% of the shares of T&D Financial Life Insurance Company (“T&D Financial Life”) from T&D Holdings, Inc. (“T&D Holdings”) and thereby make T&D Financial Life a subsidiary of PayPay (the “Share Acquisition”). The Share Acquisition will be conducted for cash consideration and is expected to be funded from PayPay’s cash on hand. PayPay has entered into a share purchase agreement (the “Share Purchase Agreement”) with T&D Holdings in connection with the Share Acquisition. One Investment Management Ltd (“OneIM”), an asset management company independent of PayPay, intends to acquire 14.9% of the shares of T&D Financial Life from T&D Holdings for cash consideration through OneIM Indigo Holdings Ltd (“OneIM Indigo”), an affiliate of OneIM. As of the date of this announcement, there is no agreement, arrangement, or understanding between PayPay and OneIM Indigo to jointly exercise voting rights or other rights as shareholders of T&D Financial Life, or to jointly acquire or transfer shares of T&D Financial Life in connection with the acquisition of shares of T&D Financial Life.” T&D Financial Life Insurance – T&D Financial Life is one of the three life insurance companies in the T&D Insurance Group, and is a life insurance company that specializes in selling life insurance through multi-agency channels such as financial institutions and walk-in insurance shops. PayPay – PayPay is Japan’s leading digital payments platform with more than 74 million registered users as of May 2026. Starting with cashless payment services, PayPay has expanded to deliver a comprehensive suite of financial services including credit cards, banking, and securities. PayPay is a subsidiary of SoftBank Corp. and listed on the Nasdaq in March 2026. T&D Holdings – The T&D Insurance Group is a distinctive group comprised of a domestic life insurance business pursuing a market-specific strategy as its core, along with a closed-book business, asset management business, and pet insurance business, all of which are compatible with the life insurance business. Under the holding company “T&D Holdings Co., Ltd.”, three life insurance companies with different business models work together to maximize their uniqueness and expertise in their respective specialized markets, striving for stable and sustainable improvement of the group’s corporate value.
“ Japan SoftBank $10.2 Billion Digital Payments Company PayPay Buys 70.2% Stake in Japan Life Insurance Company T&D Financial Life Insurance for $836 Million (JPY 134 Billion) from Japan $13 Billion Insurance Group T&D Holdings in All-Cash Deal, T&D Financial Life Insurance Formed in 2001 from the Reorganization of Tokyo Life Insurance Mutual Company, PayPay Founded in 2018 as Joint Venture Between SoftBank & Yahoo Japan “
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Japan SoftBank $10.2 Billion Digital Payments Company PayPay Buys 70.2% Stake in Japan Life Insurance Company T&D Financial Life Insurance for $836 Million (JPY 134 Billion) from Japan $13 Billion Insurance Group T&D Holdings in All-Cash Deal, T&D Financial Life Insurance Formed in 2001 from the Reorganization of Tokyo Life Insurance Mutual Company, PayPay Founded in 2018 as Joint Venture Between SoftBank & Yahoo Japan
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