Prudential Financial Inc. (NYSE: PRU) announced that its Japanese subsidiary will extend a voluntary suspension of new sales activity by an additional 180 days, following an initial 90-day suspension that began February 9.

The Prudential Life Insurance Company, Ltd., known as Prudential of Japan, determined that operational, governance and organizational changes required to resume sales are more complex than initially anticipated. The company stated these modifications will take additional time to design and implement.

Prudential initiated an independent third-party review of the Japanese unit's management system earlier this year as part of its governance process. That review remains ongoing and is expected to take several months to complete.

"I apologize to our customers for the disruption this situation has caused and for falling short of the expectations we expect of ourselves," said Hiromitsu Tokumaru, president and chief executive officer of Prudential of Japan.

During the extended suspension period, the Japanese unit will continue reforms across compensation and evaluation systems, sales activity conduct management, and head office and sales branch governance. The suspension applies only to new sales and does not affect existing policyholders or policy servicing.

The company stated that Prudential of Japan remains financially sound and able to meet its obligations. The suspension does not apply to Prudential Financial's other Japanese business units, including Gibraltar Life and Prudential Gibraltar Financial Life.

Prudential Financial's chairman, CEO and CFO will host a conference call to discuss the extension and estimated financial impacts. The company manages approximately $1.6 trillion in assets as of December 31, 2025.