JAPAN'S DAI-ICHI LIFE EYES 20-30% DIVIDEND YIELD

Japan's Dai-ichi Life Insurance Co. (TSE:8750) will aim for a dividend payout ratio of 20-30 per cent, President Koichiro Watanabe said at a news conference Thursday.

"In paying dividends to our shareholders, we will secure a payout ratio on a par with other publicly traded companies," he said.

The insurer changed from a mutual company to a stock company on Thursday, and it now needs to find the right balance between payouts to shareholders and to policyholders.

"We will address this issue by boosting our corporate value," said Watanabe, indicating that the company will continue to place weight on distributing profit to policyholders.