Nippon Life records MLC goodwill impairment

Nippon Life recorded a JPY 40.8 billion consolidated goodwill impairment and a separate JPY 68.3 billion standalone valuation loss on MLC shares for the year ended March 31, 2020. The standalone share valuation loss was eliminated on consolidation, so the two figures are not additive. The release cited deteriorating income-protection profitability.