Japan Post Insurance Makes Minority Investment in KKR-backed Hoken Minaoshi Honpo Group

[Tokyo, March 31, 2026] Japan Post Insurance Co., Ltd. (hereinafter "Japan Post Insurance"), Hoken Minaoshi Honpo Group (hereinafter "Hoken Minaoshi Honpo Group" or "the Company"), and the global investment firm KKR today announced that Japan Post Insurance has completed a minority investment in the Hoken Minaoshi Honpo Group. KKR, which acquired the Hoken Minaoshi Honpo Group in 2025 through funds under its management, remains the majority shareholder following this investment.

Through this investment, the Hoken Minaoshi Honpo Group aims to accelerate both organic and inorganic growth strategies to further expand its insurance platform in Japan. The companies will also promote the creation of new collaborative opportunities by leveraging the Company's business foundation and Japan Post Insurance's expertise in insurance and customer service. This includes the launch of a new call center business by Japan Post Insurance, supported by the Hoken Minaoshi Honpo Group, starting in April 2026.

Kunio Tanigaki, Director and President, CEO of Japan Post Insurance, stated: "The Hoken Minaoshi Honpo Group is one of the largest insurance agencies in Japan, boasting a unique business model that combines physical shops with call centers. We believe that partnering with a company that possesses such growth potential and innovation, both in terms of capital and operations, is a highly significant opportunity that will lead to increased value-add and sustainable growth for our main channel, the post office network. Through this investment, we will further deepen our partnership with KKR, which began in 2023, and carefully build upon collaborative measures, including the call center, to ensure a win-win relationship for all three parties."

Tomotaka Usui, Representative Director and Group CEO of the Hoken Minaoshi Honpo Group, stated: "I am very encouraged that, with this investment from Japan Post Insurance, we have been able to build a robust partnership that extends beyond capital to the operational side of our business. With this funding, we will promote further improvements in service quality and strengthen our risk management systems, while accelerating our business growth through collaboration with Japan Post Insurance and KKR. We will continue to deepen the partnership among the three companies to provide sustainable value to our customers and society, and strive to enhance our corporate value."

Hirofumi Hirano, Co-Head of KKR Asia Pacific and CEO of KKR Japan, stated: "This investment by Japan Post Insurance demonstrates our and Japan Post Insurance's conviction in the unique platform and high growth potential of the Hoken Minaoshi Honpo Group. Through Japan Post Insurance's support and strategic collaboration, we expect to further expand the group's nationwide platform. We are also very pleased to further strengthen our relationship with Japan Post Insurance through the Hoken Minaoshi Honpo Group."

On September 16, 2025, KKR announced the acquisition of the Hoken Minaoshi Honpo Group through funds under its management, with the aim of accelerating the group's growth strategy as an insurance agency and creating new value. Additionally, on March 31, 2026, the Hoken Minaoshi Honpo Group announced the completion of its acquisition of ETERNAL Co., Ltd. (hereinafter "ETERNAL") from Tokai Tokyo Financial Holdings, Inc. ETERNAL operates over 40 "Hoken Terrace" insurance shops, primarily in commercial facilities across the Tokyo, Nagoya, and Osaka metropolitan areas.

It should be noted that this investment is not intended for Japan Post Insurance to sell its own products through the Hoken Minaoshi Honpo Group.