Prudential to pause life sales in Japan
Prudential Financial announced a voluntary 90-day suspension of new sales activity at Prudential of Japan.
The suspension of new sales activity, which begins Feb. 9, 2026, will support Prudential of Japan’s implementation of comprehensive operational, organizational, and governance changes to address previously disclosed incidents of misconduct by employees. Prudential of Japan will also introduce actions to rebuild trust in its business and care for impacted customers, including establishing an independent customer reimbursement program.
Last month, Prudential of Japan announced findings of an internal investigation into instances of misconduct by certain employees, which include inappropriate investment solicitations. Prudential of Japan also announced actions to address the misconduct, including measures to reimburse impacted customers, restructure employee incentive compensation, as well as strengthen oversight of sales practices, governance, and risk management. The plans also include enhanced education, training, and recruitment standards for Prudential of Japan employees.
Kan Mabara, president and CEO of POJ, has left Prudential of Japan as of Feb. 1, 2026 and will not be an advisor to the company. He has been succeeded by Tokumaru, previously president and CEO of Prudential Gibraltar Financial Life, who brings over 20 years of industry experience and a commitment to restoring customer trust at POJ. Tokumaru has not previously been involved with POJ’s management.
“I would like to deeply apologize for the harm this matter has caused to our customers and stakeholders. The decision to enter into a voluntary suspension of new sales activity is an important step to rebuild trust and implement necessary changes to our organization.” – Hiromitsu Tokumaru, president and chief executive officer of Prudential of Japan.
“On behalf of Prudential of Japan, we apologize for letting our customers down. The conduct that led to this outcome is completely unacceptable and inconsistent with the standards of excellence we set for ourselves. We are taking focused actions intended to prevent future misconduct; support and reimburse our impacted customers; and restore the deep trust that is the cornerstone of our business.” – Brad Hearn, president and chief executive officer of Prudential Holdings of Japan.
“Doing right by our customers is core to who we are at Prudential and we take this matter extremely seriously. We are taking decisive actions to address the compliance, operational, and governance issues identified by the investigation. Rebuilding customer trust is a top priority. For nearly 40 years, Prudential has been a symbol of exceptional customer care in Japan, and we are committed to restoring the standing that has long set us apart.” – Andy Sullivan, chief executive officer of Prudential Financial.
