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Apr 2010 Japan's second life insurer, Dai-ichi has received approval from Tokyo stock market to launch its public offering of shares on April 1, 2010. After this move, the group will be renamed Dai-ichi Life. Its listing in the Nikkei will be the second most important achievement of its kind in the archipelago. This move will amount to 1500 billion JPY (16.2 billion USD). Sompo Japan Insurance will take a 4% stake while 4.5% of the capital will go to a subsidiary of the banking group Mizuho. Dai-ichi had been so far held by its 8.2 million insured.