Tokio Marine Holdings announced on August 25 that it will carry out a 15-for-1 split of its common shares, with September 30, 2026, set as the record date and October 1 as the effective date. Based on the August 25 closing price, the minimum investment unit is expected to fall from approximately ¥740,000 (about $4,600) to roughly ¥50,000 (about $310), potentially making the shares more accessible to retail investors. The company will also introduce a Shareholder Benefit Program for investors who continuously hold at least 100 shares for three years. The initial record date will be March 31, 2027, with subsequent annual record dates on March 31. Eligible shareholders will receive an initial ¥7,500 equivalent in e-money or similar instruments, followed by ¥2,500 equivalent annually in later years. Continuity will be assessed using shareholder registry records from March 31 and September 30, requiring the same shareholder number to appear for at least seven consecutive periods. Shares sold or otherwise transferred will break the continuity calculation. Tokio Marine said the three-year requirement is intended to encourage support for long-term growth initiatives rather than short-term ownership. The split will increase shares outstanding by 2.7076 billion, from 1.934 billion to 29.01 billion. As of the end of March 2026, foreign corporations and other entities held 41.2% of the shareholder base, financial institutions held 32.9%, and individuals and others held 14.7%, making the split a measure aimed at increasing retail participation. The fiscal year ending March 2027 year-end dividend forecast was adjusted from ¥122.5 to ¥8.17 per share, reflecting the 15-fold increase in shares; on a pre-split equivalent basis, the forecast is ¥122.55, or ¥245.05 annualized, effectively unchanged from the ¥245 annual forecast announced in May 2026. The share buyback ceiling was mechanically revised from 130 million shares to 1.95 billion, while the ¥200 billion (about $1.3 billion) total repurchase cap and the May 21 to December 23, 2026, buyback period remain unchanged. The measures combine broader investor access with incentives for long-term holding. Tokio Marine Holdings (8766.T), Japan's largest non-life insurer, has been expanding overseas insurance operations, investing in digitalization and pursuing shareholder returns. The increase in retail participation and the contribution of the three-year requirement to forming long-term shareholders will be key points to watch after the split takes effect on October 1 and the benefit program begins with its end-March 2027 record date.