Dai-ichi Life makes rare counterproposal to acquire Benefit One

Move indicates possible turning point for M&A in Japan

20231208 Dai-ichi Life Holdings

Dai-ichi Life Holdings has been looking to expand its business in non-insurance areas.

SATOSHI TEZUKA and JUN WATANABE, Nikkei staff writers

TOKYO -- Dai-ichi Life Holdings this week announced an unusual competing takeover bid to acquire Benefit One, a corporate welfare benefits provider in Japan, for which another company is already offering a bid, stepping away from the life insurance company's stance as a long-time stable shareholder of the Japanese company.

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