Dai-ichi Mutual Life Insurance Co., one of Japan's leading life insurers, is planning to go public in early fiscal 2010, the company said Thursday.
If it becomes a stock company and is listed, the company's market value could reach as high as ¥3 trillion. It plans to sell more than ¥1 trillion worth of shares in the initial public offering.
Dai-ichi is now a mutual insurer, thus policyholders have ownership rights, including the ability to elect management. It currently has about 8.5 million policyholders with such rights.