<?xml version="1.0" encoding="UTF-8" standalone="yes"?>
<!--
  This file is part of the Dutch Taxonomy (Nederlandse Taxonomie; NT)
  Intellectual Property of the State of the Netherlands
  Architecture: NT19
  Version: 20241211
  Release date: November 1, 2024
-->
<link:linkbase xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink">
  <link:labelLink xlink:role="http://www.xbrl.org/2003/role/link" xlink:type="extended">
    <link:label id="rj-i_LiabilitiesCurrentSecuredAmount_totalLabel_en" xlink:label="rj-i_LiabilitiesCurrentSecuredAmount_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total amount of secured current liabilities with business certainty</link:label>
    <link:label id="rj-i_LiabilitiesSecuredAmount_totalLabel_en" xlink:label="rj-i_LiabilitiesSecuredAmount_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total amount of secured liabilities with business certainty</link:label>
    <link:label id="rj-i_LiabilitiesNoncurrentSecuredAmount_totalLabel_en" xlink:label="rj-i_LiabilitiesNoncurrentSecuredAmount_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total amount of secured non-current liabilities with business certainty</link:label>
    <link:label id="rj-i_ChangeProvisionPensionObligationsOnBehalfOfParticipants_totalLabel_en" xlink:label="rj-i_ChangeProvisionPensionObligationsOnBehalfOfParticipants_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total change in provision for pension obligations on behalf of participants</link:label>
    <link:label id="rj-i_AccommodationCosts_totalLabel_en" xlink:label="rj-i_AccommodationCosts_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of accommodation costs</link:label>
    <link:label id="rj-i_InvestmentsAcquisitionsMarketValue_totalLabel_en" xlink:label="rj-i_InvestmentsAcquisitionsMarketValue_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of acquisitions of investments</link:label>
    <link:label id="rj-i_InvestmentsAcquisitions_totalLabel_en" xlink:label="rj-i_InvestmentsAcquisitions_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of acquisitions of investments</link:label>
    <link:label id="rj-i_AdditionsAcquisitionsClassifiedAsInvestingActivities_totalLabel_en" xlink:label="rj-i_AdditionsAcquisitionsClassifiedAsInvestingActivities_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of additions and acquisitions (classified as investing activities)</link:label>
    <link:label id="rj-i_RealEstateInExploitationAdditions_totalLabel_en" xlink:label="rj-i_RealEstateInExploitationAdditions_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of additions to real estate in exploitation</link:label>
    <link:label id="rj-i_EquityAdditions_totalLabel_en" xlink:label="rj-i_EquityAdditions_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of additions</link:label>
    <link:label id="rj-i_InvestmentPropertiesAdditions_totalLabel_en" xlink:label="rj-i_InvestmentPropertiesAdditions_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of additions</link:label>
    <link:label id="rj-i_AdjustmentsReconcileNetResult_totalLabel_en" xlink:label="rj-i_AdjustmentsReconcileNetResult_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of adjustments to reconcile to the net result</link:label>
    <link:label id="rj-i_AdjustmentsReconcileOperatingResult_totalLabel_en" xlink:label="rj-i_AdjustmentsReconcileOperatingResult_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of adjustments to reconcile to the operating result</link:label>
    <link:label id="rj-i_PersonalInterestInInvestmentsManagingSupervisoryDirectorsFormerManagingSupervisoryDirectorsAmount_totalLabel_en" xlink:label="rj-i_PersonalInterestInInvestmentsManagingSupervisoryDirectorsFormerManagingSupervisoryDirectorsAmount_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of amount of personal interest in investments of managing and supervisory directors and former managing and supervisory directors</link:label>
    <link:label id="rj-i_AssetManagementExpenses_totalLabel_en" xlink:label="rj-i_AssetManagementExpenses_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of asset management expenses</link:label>
    <link:label id="rj-i_AvailableForMemberPayments_totalLabel_en" xlink:label="rj-i_AvailableForMemberPayments_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of available for member payments</link:label>
    <link:label id="rj-i_FinancialIncomeExpenses_totalLabel_en" xlink:label="rj-i_FinancialIncomeExpenses_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of balance financial income and expenses</link:label>
    <link:label id="rj-i_BalanceIncomeAndExpenses_totalLabel_en" xlink:label="rj-i_BalanceIncomeAndExpenses_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of balance of income and expenses</link:label>
    <link:label id="rj-i_TransfersOfRightsBalance_totalLabel_en" xlink:label="rj-i_TransfersOfRightsBalance_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of balance of transfers of rights</link:label>
    <link:label id="rj-i_BalanceOtherTechnicalIncomeExpenses_totalLabel_en" xlink:label="rj-i_BalanceOtherTechnicalIncomeExpenses_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of balance other technical income and expenses</link:label>
    <link:label id="rj-i_BorrowingsFromGovernmentsCreditInstitutions_totalLabel_en" xlink:label="rj-i_BorrowingsFromGovernmentsCreditInstitutions_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of borrowings from governments and credit institutions</link:label>
    <link:label id="rj-i_CashAndCashEquivalentsCashFlow_totalLabel_en" xlink:label="rj-i_CashAndCashEquivalentsCashFlow_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of cash and cash equivalents</link:label>
    <link:label id="rj-i_CashFlowFinancingActivitiesDiscontinuedOperations_totalLabel_en" xlink:label="rj-i_CashFlowFinancingActivitiesDiscontinuedOperations_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of cash flow from (used in) financing activities of the discontinued operations</link:label>
    <link:label id="rj-i_CashFlowFinancingActivities_totalLabel_en" xlink:label="rj-i_CashFlowFinancingActivities_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of cash flow from (used in) financing activities</link:label>
    <link:label id="rj-i_CashFlowInvestingActivitiesDiscontinuedOperations_totalLabel_en" xlink:label="rj-i_CashFlowInvestingActivitiesDiscontinuedOperations_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of cash flow from (used in) investing activities of the discontinued operations</link:label>
    <link:label id="rj-i_CashFlowInvestingActivities_totalLabel_en" xlink:label="rj-i_CashFlowInvestingActivities_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of cash flow from (used in) investing activities</link:label>
    <link:label id="rj-i_CashFlowInvestmentActivities_totalLabel_en" xlink:label="rj-i_CashFlowInvestmentActivities_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of cash flow from (used in) investment activities</link:label>
    <link:label id="rj-i_CashFlowFromOperations_totalLabel_en" xlink:label="rj-i_CashFlowFromOperations_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of cash flow from (used in) operations</link:label>
    <link:label id="rj-i_CashFlowPensionActivities_totalLabel_en" xlink:label="rj-i_CashFlowPensionActivities_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of cash flow from (used in) pension activities</link:label>
    <link:label id="rj-i_CashFlowOperatingActivitiesBeforeTax_totalLabel_en" xlink:label="rj-i_CashFlowOperatingActivitiesBeforeTax_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of cash flows from (used in) operating activities before tax</link:label>
    <link:label id="rj-i_CashFlowOperatingActivitiesDiscontinuedOperations_totalLabel_en" xlink:label="rj-i_CashFlowOperatingActivitiesDiscontinuedOperations_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of cash flows from (used in) operating activities of business activities that are not continued sustainably</link:label>
    <link:label id="rj-i_CashFlowOperatingActivities_totalLabel_en" xlink:label="rj-i_CashFlowOperatingActivities_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of cash flows from (used in) operating activities</link:label>
    <link:label id="rj-i_CentralGovernmentContributionsMinusWorkplaceFunction_totalLabel_en" xlink:label="rj-i_CentralGovernmentContributionsMinusWorkplaceFunction_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of central government contributions minus the amount relating to the workplace function (university with university medical center)</link:label>
    <link:label id="rj-i_ChangeAsConsequence_totalLabel_en" xlink:label="rj-i_ChangeAsConsequence_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of change due to changes</link:label>
    <link:label id="rj-i_ChangeProvisionPensionObligationsOnBehalfOfPensionFund_totalLabel_en" xlink:label="rj-i_ChangeProvisionPensionObligationsOnBehalfOfPensionFund_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of change in provision for pension obligations on behalf of pension fund</link:label>
    <link:label id="rj-i_ChangesValueInvestmentProperties_totalLabel_en" xlink:label="rj-i_ChangesValueInvestmentProperties_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of changes in the fair value of real estate investments</link:label>
    <link:label id="rj-i_ChangesWorkingCapital_totalLabel_en" xlink:label="rj-i_ChangesWorkingCapital_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of changes in working capital</link:label>
    <link:label id="rj-i_ConstructionContractsAmountRecordedAsLiability_totalLabel_en" xlink:label="rj-i_ConstructionContractsAmountRecordedAsLiability_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of construction contracts</link:label>
    <link:label id="rj-i_ConstructionContractsAmount_totalLabel_en" xlink:label="rj-i_ConstructionContractsAmount_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of construction contracts</link:label>
    <link:label id="rj-i_CentralGovernmentContributions_totalLabel_en" xlink:label="rj-i_CentralGovernmentContributions_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of contributions of central governments</link:label>
    <link:label id="rj-i_CostsOutsourcedWorkAdministrationCustodyAssetsInvestmentEntity_totalLabel_en" xlink:label="rj-i_CostsOutsourcedWorkAdministrationCustodyAssetsInvestmentEntity_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of costs of outsourced work relating to the administration of the investment entity or custody of the assets of the investment entity</link:label>
    <link:label id="rj-i_Creditors_totalLabel_en" xlink:label="rj-i_Creditors_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of creditors</link:label>
    <link:label id="rj-i_DesignatedFunds_totalLabel_en" xlink:label="rj-i_DesignatedFunds_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of designated funds</link:label>
    <link:label id="rj-i_DesignatedReserves_totalLabel_en" xlink:label="rj-i_DesignatedReserves_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of designated reserves</link:label>
    <link:label id="rj-i_ReservesAndFundsDifferenceSeparateConsolidatedFinancialStatements_totalLabel_en" xlink:label="rj-i_ReservesAndFundsDifferenceSeparateConsolidatedFinancialStatements_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of difference in reserves and funds in the separate and consolidated financial statements</link:label>
    <link:label id="rj-i_DirectInvestmentResults_totalLabel_en" xlink:label="rj-i_DirectInvestmentResults_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of direct investment results</link:label>
    <link:label id="rj-i_FinanceLeasesDiscountedValue_totalLabel_en" xlink:label="rj-i_FinanceLeasesDiscountedValue_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of discountend value of future minimum lease payments of in finance leases</link:label>
    <link:label id="rj-i_DisposalsRedemptionsDivestituresClassifiedAsInvestingActivities_totalLabel_en" xlink:label="rj-i_DisposalsRedemptionsDivestituresClassifiedAsInvestingActivities_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of disposals, redemptions and divestitures (classified as investing activities)</link:label>
    <link:label id="rj-i_DividendsPaidClassifiedAsFinancingActivities_totalLabel_en" xlink:label="rj-i_DividendsPaidClassifiedAsFinancingActivities_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of dividends paid</link:label>
    <link:label id="rj-i_DividendsPaidClassifiedAsOperatingActivities_totalLabel_en" xlink:label="rj-i_DividendsPaidClassifiedAsOperatingActivities_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of dividends paid</link:label>
    <link:label id="rj-i_SubsidyIncomeExpensesUtilisation_totalLabel_en" xlink:label="rj-i_SubsidyIncomeExpensesUtilisation_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of eligible costs in the year under review</link:label>
    <link:label id="rj-i_ExpenseClaimsPaymentsManagingDirectors_totalLabel_en" xlink:label="rj-i_ExpenseClaimsPaymentsManagingDirectors_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of expense claims of and payments to managing directors</link:label>
    <link:label id="rj-i_ExpensesReimbursementsBorrowingLendingFinancialInstruments_totalLabel_en" xlink:label="rj-i_ExpensesReimbursementsBorrowingLendingFinancialInstruments_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of expenses and reimbursements for borrowing and lending of financial instruments</link:label>
    <link:label id="rj-i_ExpensesBorrowingLendingFinancialInstruments_totalLabel_en" xlink:label="rj-i_ExpensesBorrowingLendingFinancialInstruments_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of expenses of borrowing of financial instruments</link:label>
    <link:label id="rj-i_EmployeeBenefitsExpensesExcludingExternalEmployees_totalLabel_en" xlink:label="rj-i_EmployeeBenefitsExpensesExcludingExternalEmployees_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of expenses of employee benefits excluding external employees</link:label>
    <link:label id="rj-i_ExpensesSpentOnObjectives_totalLabel_en" xlink:label="rj-i_ExpensesSpentOnObjectives_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of expenses spent on objectives</link:label>
    <link:label id="rj-i_FinancialExpenses_totalLabel_en" xlink:label="rj-i_FinancialExpenses_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of financial expenses</link:label>
    <link:label id="rj-i_FinancialIncome_totalLabel_en" xlink:label="rj-i_FinancialIncome_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of financial income</link:label>
    <link:label id="rj-i_FinancingDeficitSurplusToBeSettledInRates_totalLabel_en" xlink:label="rj-i_FinancingDeficitSurplusToBeSettledInRates_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of financing deficit (surplus) to be settled in rates</link:label>
    <link:label id="rj-i_FinancingDeficitSurplus_totalLabel_en" xlink:label="rj-i_FinancingDeficitSurplus_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of financing deficit surplus</link:label>
    <link:label id="rj-i_FoundationCapitalAndReserves_totalLabel_en" xlink:label="rj-i_FoundationCapitalAndReserves_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of foundation capital and reserves</link:label>
    <link:label id="rj-i_Funds_totalLabel_en" xlink:label="rj-i_Funds_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of funds</link:label>
    <link:label id="rj-i_IncomeFromFundraising_totalLabel_en" xlink:label="rj-i_IncomeFromFundraising_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of gained income</link:label>
    <link:label id="rj-i_FinanceLeasesGrossInvestment_totalLabel_en" xlink:label="rj-i_FinanceLeasesGrossInvestment_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of gross investment in finance leases</link:label>
    <link:label id="rj-i_ImpairmentAssetsNoncurrentInIncomeStatement_totalLabel_en" xlink:label="rj-i_ImpairmentAssetsNoncurrentInIncomeStatement_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of impairment of non-current assets</link:label>
    <link:label id="rj-i_ImpairmentAssetsNoncurrent_totalLabel_en" xlink:label="rj-i_ImpairmentAssetsNoncurrent_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of impairment of non-current assets</link:label>
    <link:label id="rj-i_ComprehensiveIncomeOther_totalLabel_en" xlink:label="rj-i_ComprehensiveIncomeOther_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of income and expenses recognized directly in the legal entity's equity as part of the group equity</link:label>
    <link:label id="rj-i_IncomeFromBusiness_totalLabel_en" xlink:label="rj-i_IncomeFromBusiness_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of income from business</link:label>
    <link:label id="rj-i_IncomeFromIndividuals_totalLabel_en" xlink:label="rj-i_IncomeFromIndividuals_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of income from individuals</link:label>
    <link:label id="rj-i_IncomeProductServiceDelivery_totalLabel_en" xlink:label="rj-i_IncomeProductServiceDelivery_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of income from product/service delivery</link:label>
    <link:label id="rj-i_IncomeOnThirdPartyContracts_totalLabel_en" xlink:label="rj-i_IncomeOnThirdPartyContracts_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of income on third party contracts</link:label>
    <link:label id="rj-i_IncreaseDecreaseOperationalActivities_totalLabel_en" xlink:label="rj-i_IncreaseDecreaseOperationalActivities_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of increase (decrease) in operational activities</link:label>
    <link:label id="rj-i_IncreaseDecreaseCashAndCashEquivalents_totalLabel_en" xlink:label="rj-i_IncreaseDecreaseCashAndCashEquivalents_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of increase (decrease) of cash and cash equivalents</link:label>
    <link:label id="rj-i_IndirectInvestmentResults_totalLabel_en" xlink:label="rj-i_IndirectInvestmentResults_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of indirect investment results</link:label>
    <link:label id="rj-i_InvestmentPropertiesOnBehalfOfParticipants_totalLabel_en" xlink:label="rj-i_InvestmentPropertiesOnBehalfOfParticipants_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of investment properties on behalf of participants</link:label>
    <link:label id="rj-i_InvestmentPropertiesOnBehalfOfPensionFund_totalLabel_en" xlink:label="rj-i_InvestmentPropertiesOnBehalfOfPensionFund_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of investment properties on behalf of pension fund</link:label>
    <link:label id="rj-i_InvestmentProperties_totalLabel_en" xlink:label="rj-i_InvestmentProperties_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of investment properties</link:label>
    <link:label id="rj-i_InvestmentResultFromInvestmentEntity_totalLabel_en" xlink:label="rj-i_InvestmentResultFromInvestmentEntity_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of investment result from investment entity</link:label>
    <link:label id="rj-i_InvestmentResultPerUnit_totalLabel_en" xlink:label="rj-i_InvestmentResultPerUnit_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of investment result per unit</link:label>
    <link:label id="rj-i_InvestmentResultsOnBehalfOfParticipants_totalLabel_en" xlink:label="rj-i_InvestmentResultsOnBehalfOfParticipants_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of investment results on behalf of participants</link:label>
    <link:label id="rj-i_InvestmentResultsOnBehalfOfPensionFund_totalLabel_en" xlink:label="rj-i_InvestmentResultsOnBehalfOfPensionFund_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of investment results on behalf of pension fund</link:label>
    <link:label id="rj-i_InvestmentsFixedIncomeSecuritiesOnBehalfOfParticipants_totalLabel_en" xlink:label="rj-i_InvestmentsFixedIncomeSecuritiesOnBehalfOfParticipants_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of investments in fixed income securities on behalf of participants</link:label>
    <link:label id="rj-i_InvestmentsFixedIncomeSecuritiesOnBehalfOfPensionFund_totalLabel_en" xlink:label="rj-i_InvestmentsFixedIncomeSecuritiesOnBehalfOfPensionFund_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of investments in fixed income securities on behalf of pension fund</link:label>
    <link:label id="rj-i_InvestmentsSharesOnBehalfOfParticipants_totalLabel_en" xlink:label="rj-i_InvestmentsSharesOnBehalfOfParticipants_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of investments in shares on behalf of participants</link:label>
    <link:label id="rj-i_InvestmentsSharesOnBehalfOfPensionFund_totalLabel_en" xlink:label="rj-i_InvestmentsSharesOnBehalfOfPensionFund_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of investments in shares on behalf of pension fund</link:label>
    <link:label id="rj-i_InvestmentsOnBehalfOfParticipants_totalLabel_en" xlink:label="rj-i_InvestmentsOnBehalfOfParticipants_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of investments on behalf of participants</link:label>
    <link:label id="rj-i_InvestmentsOnBehalfOfPensionFund_totalLabel_en" xlink:label="rj-i_InvestmentsOnBehalfOfPensionFund_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of investments on behalf of pension fund</link:label>
    <link:label id="rj-i_InvestmentsOnBehalfOfPremiumPensionInstitutions_totalLabel_en" xlink:label="rj-i_InvestmentsOnBehalfOfPremiumPensionInstitutions_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of investments on behalf of premium pension institutions</link:label>
    <link:label id="rj-i_InvestmentResults_totalLabel_en" xlink:label="rj-i_InvestmentResults_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of investments results</link:label>
    <link:label id="rj-i_LoansAdvancesGuaranteesOnBehalfOfManagingDirectorsFormerManagingDirectors_totalLabel_en" xlink:label="rj-i_LoansAdvancesGuaranteesOnBehalfOfManagingDirectorsFormerManagingDirectors_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of loans, advances and guarantees on behalf of managing directors</link:label>
    <link:label id="rj-i_LoansAdvancesGuaranteesOnBehalfOfSupervisoryDirectorsFormerSupervisoryDirectors_totalLabel_en" xlink:label="rj-i_LoansAdvancesGuaranteesOnBehalfOfSupervisoryDirectorsFormerSupervisoryDirectors_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of loans, advances and guarantees on behalf of supervisory directors</link:label>
    <link:label id="rj-i_ManagementExpenses_totalLabel_en" xlink:label="rj-i_ManagementExpenses_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of management expenses</link:label>
    <link:label id="rj-i_FinanceLeasesMinimalLeasePayments_totalLabel_en" xlink:label="rj-i_FinanceLeasesMinimalLeasePayments_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of minimal lease payments of finance leases</link:label>
    <link:label id="rj-i_OperatingLeasesMinimumLeasePaymentsLessors_totalLabel_en" xlink:label="rj-i_OperatingLeasesMinimumLeasePaymentsLessors_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of minimal lease payments of operating leases for lessors</link:label>
    <link:label id="rj-i_OperatingLeasesMinimalLeasePayments_totalLabel_en" xlink:label="rj-i_OperatingLeasesMinimalLeasePayments_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of minimal lease payments of operating leases</link:label>
    <link:label id="rj-i_TechnicalProvisionsOtherMovement_totalLabel_en" xlink:label="rj-i_TechnicalProvisionsOtherMovement_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of movement of other technical provisions</link:label>
    <link:label id="rj-i_ReceivablesFromBanksMovement_totalLabel_en" xlink:label="rj-i_ReceivablesFromBanksMovement_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of movement of receivables from banks</link:label>
    <link:label id="rj-i_BondsOtherFixedIncomeSecuritiesMovement_totalLabel_en" xlink:label="rj-i_BondsOtherFixedIncomeSecuritiesMovement_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of movements during the period</link:label>
    <link:label id="rj-i_CapitalisedAcquisitionCostsMovement_totalLabel_en" xlink:label="rj-i_CapitalisedAcquisitionCostsMovement_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of movements during the period</link:label>
    <link:label id="rj-i_DesignatedFundMovement_totalLabel_en" xlink:label="rj-i_DesignatedFundMovement_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of movements during the period</link:label>
    <link:label id="rj-i_DesignatedReserveMovement_totalLabel_en" xlink:label="rj-i_DesignatedReserveMovement_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of movements during the period</link:label>
    <link:label id="rj-i_FinancingDeficitSurplusToBeSettledInRatesMovement_totalLabel_en" xlink:label="rj-i_FinancingDeficitSurplusToBeSettledInRatesMovement_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of movements during the period</link:label>
    <link:label id="rj-i_FoundationCapitalAndReservesMovement_totalLabel_en" xlink:label="rj-i_FoundationCapitalAndReservesMovement_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of movements during the period</link:label>
    <link:label id="rj-i_GeneralBankingRisksReserveMovement_totalLabel_en" xlink:label="rj-i_GeneralBankingRisksReserveMovement_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of movements during the period</link:label>
    <link:label id="rj-i_InvestmentPropertiesMovement_totalLabel_en" xlink:label="rj-i_InvestmentPropertiesMovement_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of movements during the period</link:label>
    <link:label id="rj-i_InvestmentsMovementMarketValue_totalLabel_en" xlink:label="rj-i_InvestmentsMovementMarketValue_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of movements during the period</link:label>
    <link:label id="rj-i_InvestmentsMovement_totalLabel_en" xlink:label="rj-i_InvestmentsMovement_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of movements during the period</link:label>
    <link:label id="rj-i_LiabilitiesNoncurrentMovement_totalLabel_en" xlink:label="rj-i_LiabilitiesNoncurrentMovement_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of movements during the period</link:label>
    <link:label id="rj-i_NegativeGoodwillMovement_totalLabel_en" xlink:label="rj-i_NegativeGoodwillMovement_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of movements during the period</link:label>
    <link:label id="rj-i_ObligationsOnBehalfOfParticipantsPremiumPensionsInstitutionsMovement_totalLabel_en" xlink:label="rj-i_ObligationsOnBehalfOfParticipantsPremiumPensionsInstitutionsMovement_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of movements during the period</link:label>
    <link:label id="rj-i_ProvisionsMovement_totalLabel_en" xlink:label="rj-i_ProvisionsMovement_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of movements during the period</link:label>
    <link:label id="rj-i_ReceivablesFromCustomersMovement_totalLabel_en" xlink:label="rj-i_ReceivablesFromCustomersMovement_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of movements during the period</link:label>
    <link:label id="rj-i_ReinsurancePartTechnicalProvisionsMovement_totalLabel_en" xlink:label="rj-i_ReinsurancePartTechnicalProvisionsMovement_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of movements during the period</link:label>
    <link:label id="rj-i_ReserveDiscretionaryProfitSharingMovement_totalLabel_en" xlink:label="rj-i_ReserveDiscretionaryProfitSharingMovement_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of movements during the period</link:label>
    <link:label id="rj-i_ReservesAndFundsMovement_totalLabel_en" xlink:label="rj-i_ReservesAndFundsMovement_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of movements during the period</link:label>
    <link:label id="rj-i_SharesOtherVariableYieldSecuritiesMovement_totalLabel_en" xlink:label="rj-i_SharesOtherVariableYieldSecuritiesMovement_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of movements during the period</link:label>
    <link:label id="rj-i_TechnicalProvisionsMovement_totalLabel_en" xlink:label="rj-i_TechnicalProvisionsMovement_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of movements during the period</link:label>
    <link:label id="rj-i_TreasurySharesMovement_totalLabel_en" xlink:label="rj-i_TreasurySharesMovement_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of movements during the period</link:label>
    <link:label id="rj-i_MutationReportingYearAcquisitionCosts_totalLabel_en" xlink:label="rj-i_MutationReportingYearAcquisitionCosts_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of mutations</link:label>
    <link:label id="rj-i_MutationReportingYearInterestRateDiscount_totalLabel_en" xlink:label="rj-i_MutationReportingYearInterestRateDiscount_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of mutations</link:label>
    <link:label id="rj-i_DBCsDBCHealthcareProductsInProgressNet_totalLabel_en" xlink:label="rj-i_DBCsDBCHealthcareProductsInProgressNet_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of net DBCs and DBC-healthcare products in progress</link:label>
    <link:label id="rj-i_NetCashFlows_totalLabel_en" xlink:label="rj-i_NetCashFlows_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of net cash flows</link:label>
    <link:label id="rj-i_NetResult_totalLabel_en" xlink:label="rj-i_NetResult_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of net result</link:label>
    <link:label id="rj-i_TradeReceivablesNet_totalLabel_en" xlink:label="rj-i_TradeReceivablesNet_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of net trade receivables</link:label>
    <link:label id="rj-i_ProvisionsAdditions_totalLabel_en" xlink:label="rj-i_ProvisionsAdditions_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of newly formed provisions</link:label>
    <link:label id="rj-i_NumberOfStudentsOtherFinanciallySupportedByStudentFinancialSupportFund_totalLabel_en" xlink:label="rj-i_NumberOfStudentsOtherFinanciallySupportedByStudentFinancialSupportFund_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of number of other students who are financially supported by the Student Financial Support Fund</link:label>
    <link:label id="rj-i_NumberOfParticipants_totalLabel_en" xlink:label="rj-i_NumberOfParticipants_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of number of participants</link:label>
    <link:label id="rj-i_NumberOfStudentsFinanciallySupportedByStudentFinancialSupportFund_totalLabel_en" xlink:label="rj-i_NumberOfStudentsFinanciallySupportedByStudentFinancialSupportFund_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of number of students who are financially supported by the Student Financial Support Fund</link:label>
    <link:label id="rj-i_OffBalanceSheetCommitmentsPaymentsObtainUsageRights_totalLabel_en" xlink:label="rj-i_OffBalanceSheetCommitmentsPaymentsObtainUsageRights_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of off-balance sheet liabilities relating to payments to obtain usage rights</link:label>
    <link:label id="rj-i_DesignatedReservesOther_totalLabel_en" xlink:label="rj-i_DesignatedReservesOther_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of other designated reserves</link:label>
    <link:label id="rj-i_EquityAndLiabilitiesOther_totalLabel_en" xlink:label="rj-i_EquityAndLiabilitiesOther_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of other equity and liabilities</link:label>
    <link:label id="rj-i_GovernmentContributionsAndSubsidiesOther_totalLabel_en" xlink:label="rj-i_GovernmentContributionsAndSubsidiesOther_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of other government contributions and subsidies</link:label>
    <link:label id="rj-i_InvestmentsOtherOnBehalfOfParticipants_totalLabel_en" xlink:label="rj-i_InvestmentsOtherOnBehalfOfParticipants_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of other investments on behalf of participants</link:label>
    <link:label id="rj-i_OtherLiabilitesAndAccruedLiabilitiesPremiumPensionInstitutions_totalLabel_en" xlink:label="rj-i_OtherLiabilitesAndAccruedLiabilitiesPremiumPensionInstitutions_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of other liabilities and accrued liabilities: breakdown</link:label>
    <link:label id="rj-i_LiabilitiesOther_totalLabel_en" xlink:label="rj-i_LiabilitiesOther_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of other liabilities</link:label>
    <link:label id="rj-i_InvestmentsMovementOther_totalLabel_en" xlink:label="rj-i_InvestmentsMovementOther_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of other movements of investments</link:label>
    <link:label id="rj-i_EmployeeBenefitsExpensesOther_totalLabel_en" xlink:label="rj-i_EmployeeBenefitsExpensesOther_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of other personnel related expenses</link:label>
    <link:label id="rj-i_PayablesCentralCashAndHealthCareInsuranceFund_totalLabel_en" xlink:label="rj-i_PayablesCentralCashAndHealthCareInsuranceFund_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of payables to central cash and health care insurance fund</link:label>
    <link:label id="rj-i_PayablesCooperativeMembers_totalLabel_en" xlink:label="rj-i_PayablesCooperativeMembers_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of payables to members of the cooperative</link:label>
    <link:label id="rj-i_OperatingLeasesPaymentsDuringPeriod_totalLabel_en" xlink:label="rj-i_OperatingLeasesPaymentsDuringPeriod_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of payments of operating leases during the period</link:label>
    <link:label id="rj-i_PersonalInterestInInvestmentsManagingSupervisoryDirectorsFormerManagingSupervisoryDirectorsControlRights_totalLabel_en" xlink:label="rj-i_PersonalInterestInInvestmentsManagingSupervisoryDirectorsFormerManagingSupervisoryDirectorsControlRights_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of personal control interest in investments of managing and supervisory directors and former managing and supervisory directors</link:label>
    <link:label id="rj-i_PremiumContributions_totalLabel_en" xlink:label="rj-i_PremiumContributions_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of premium contributions</link:label>
    <link:label id="rj-i_InvestmentsPriceDifferencesMarketValue_totalLabel_en" xlink:label="rj-i_InvestmentsPriceDifferencesMarketValue_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of price differences of investments</link:label>
    <link:label id="rj-i_InvestmentsPriceDifferences_totalLabel_en" xlink:label="rj-i_InvestmentsPriceDifferences_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of price differences of investments</link:label>
    <link:label id="rj-i_ProceedsSalesPropertyPlantAndEquipment_totalLabel_en" xlink:label="rj-i_ProceedsSalesPropertyPlantAndEquipment_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of proceeds from sales of property, plant and equipment</link:label>
    <link:label id="rj-i_ProvisionPensionObligationsOnBehalfOfParticipants_totalLabel_en" xlink:label="rj-i_ProvisionPensionObligationsOnBehalfOfParticipants_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of provision for pension obligations on behalf of participants</link:label>
    <link:label id="rj-i_ProvisionPensionObligationsOnBehalfOfPensionFund_totalLabel_en" xlink:label="rj-i_ProvisionPensionObligationsOnBehalfOfPensionFund_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of provision for pension obligations on behalf of pension fund</link:label>
    <link:label id="rj-i_PurchasePropertyPlantEquipment_totalLabel_en" xlink:label="rj-i_PurchasePropertyPlantEquipment_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of purchase of property, plant and equipment</link:label>
    <link:label id="rj-i_ReceivablesAndPrepayments_totalLabel_en" xlink:label="rj-i_ReceivablesAndPrepayments_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of receivables and prepayments</link:label>
    <link:label id="rj-i_ReceivablesFromCentralCashAndHealthCareInsuranceFund_totalLabel_en" xlink:label="rj-i_ReceivablesFromCentralCashAndHealthCareInsuranceFund_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of receivables from central cash and health care insurance fund</link:label>
    <link:label id="rj-i_ReceivablesFromInsurancePoliciesNotImmediatelyDueFromCurrentAccounts_totalLabel_en" xlink:label="rj-i_ReceivablesFromInsurancePoliciesNotImmediatelyDueFromCurrentAccounts_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of receivables from insurance policies not immediately due from current accounts</link:label>
    <link:label id="rj-i_ReceivablesCooperativeMembers_totalLabel_en" xlink:label="rj-i_ReceivablesCooperativeMembers_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of receivables from members of the cooperative</link:label>
    <link:label id="rj-i_FundraisingExpenses_totalLabel_en" xlink:label="rj-i_FundraisingExpenses_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of recruitment costs</link:label>
    <link:label id="rj-i_ReinsurancePartTechnicalProvisions_totalLabel_en" xlink:label="rj-i_ReinsurancePartTechnicalProvisions_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of reinsurance part technical provisions</link:label>
    <link:label id="rj-i_RemunerationExecutiveNonExecutiveManagingDirectors_totalLabel_en" xlink:label="rj-i_RemunerationExecutiveNonExecutiveManagingDirectors_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of remuneration of executive directors and non executive managing directors</link:label>
    <link:label id="rj-i_RemunerationManagingSupervisoryDirectors_totalLabel_en" xlink:label="rj-i_RemunerationManagingSupervisoryDirectors_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of remuneration of managing and supervisory directors</link:label>
    <link:label id="rj-i_RemunerationAdministratorInvestmentEntity_totalLabel_en" xlink:label="rj-i_RemunerationAdministratorInvestmentEntity_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of remuneration of the administrator of the investment entity</link:label>
    <link:label id="rj-i_RemunerationAdministratorInvestmentEntityEmployees_totalLabel_en" xlink:label="rj-i_RemunerationAdministratorInvestmentEntityEmployees_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of remuneration of the employees of the administrator of the investment entity</link:label>
    <link:label id="rj-i_ReservesAndFundsSeparateFinancialStatements_totalLabel_en" xlink:label="rj-i_ReservesAndFundsSeparateFinancialStatements_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of reserves and funds in the separate financial statements</link:label>
    <link:label id="rj-i_ReservesAndFunds_totalLabel_en" xlink:label="rj-i_ReservesAndFunds_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of reserves and funds</link:label>
    <link:label id="rj-i_Reserves_totalLabel_en" xlink:label="rj-i_Reserves_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of reserves</link:label>
    <link:label id="rj-i_ResultBeforeMemberPayments_totalLabel_en" xlink:label="rj-i_ResultBeforeMemberPayments_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of result before member payments</link:label>
    <link:label id="rj-i_ResultProbabilitySystems_totalLabel_en" xlink:label="rj-i_ResultProbabilitySystems_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of result on chance systems</link:label>
    <link:label id="rj-i_Result_totalLabel_en" xlink:label="rj-i_Result_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of result</link:label>
    <link:label id="rj-i_InvestmentsRevaluationsMarketValue_totalLabel_en" xlink:label="rj-i_InvestmentsRevaluationsMarketValue_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of revaluations of investments</link:label>
    <link:label id="rj-i_InvestmentsRevaluations_totalLabel_en" xlink:label="rj-i_InvestmentsRevaluations_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of revaluations of investments</link:label>
    <link:label id="rj-i_IncomeFromCareServicesAndSocialSupport_totalLabel_en" xlink:label="rj-i_IncomeFromCareServicesAndSocialSupport_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of revenues from care services, youth assistance and social support</link:label>
    <link:label id="rj-i_Revenues_totalLabel_en" xlink:label="rj-i_Revenues_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of revenues</link:label>
    <link:label id="rj-i_ImpairmentAssetsNoncurrentReversal_totalLabel_en" xlink:label="rj-i_ImpairmentAssetsNoncurrentReversal_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of reversal of impairment of non-current assets</link:label>
    <link:label id="rj-i_InvestmentsSalesMarketValue_totalLabel_en" xlink:label="rj-i_InvestmentsSalesMarketValue_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of sales of investments</link:label>
    <link:label id="rj-i_InvestmentsSales_totalLabel_en" xlink:label="rj-i_InvestmentsSales_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of sales of investments</link:label>
    <link:label id="rj-i_StaffingLevel_totalLabel_en" xlink:label="rj-i_StaffingLevel_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of staffing level</link:label>
    <link:label id="rj-i_SubsidiesProvidedIncludingSubsidyLiabilitiesNotDistributed_totalLabel_en" xlink:label="rj-i_SubsidiesProvidedIncludingSubsidyLiabilitiesNotDistributed_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of subsidies provided including subsidy liabilities not distributed</link:label>
    <link:label id="rj-i_SubsidyIncome_totalLabel_en" xlink:label="rj-i_SubsidyIncome_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of subsidy income</link:label>
    <link:label id="rj-i_TradeOtherReceivables_totalLabel_en" xlink:label="rj-i_TradeOtherReceivables_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of trade and other receivables</link:label>
    <link:label id="rj-i_TuitionCourseTrainingExamFees_totalLabel_en" xlink:label="rj-i_TuitionCourseTrainingExamFees_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of tuition fees, course fees, training fees and exam fees</link:label>
    <link:label id="rj-i_EquityWithdrawals_totalLabel_en" xlink:label="rj-i_EquityWithdrawals_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of withdrawals</link:label>
    <link:label id="rj-i_ProvisionsWithdrawals_totalLabel_en" xlink:label="rj-i_ProvisionsWithdrawals_totalLabel_en" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en">Total of withdrawals</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_AccommodationCosts_loc" xlink:to="rj-i_AccommodationCosts_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_AdditionsAcquisitionsClassifiedAsInvestingActivities_loc" xlink:to="rj-i_AdditionsAcquisitionsClassifiedAsInvestingActivities_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_AdjustmentsReconcileNetResult_loc" xlink:to="rj-i_AdjustmentsReconcileNetResult_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_AdjustmentsReconcileOperatingResult_loc" xlink:to="rj-i_AdjustmentsReconcileOperatingResult_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_AssetManagementExpenses_loc" xlink:to="rj-i_AssetManagementExpenses_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_AvailableForMemberPayments_loc" xlink:to="rj-i_AvailableForMemberPayments_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_BalanceIncomeAndExpenses_loc" xlink:to="rj-i_BalanceIncomeAndExpenses_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_BalanceOtherTechnicalIncomeExpenses_loc" xlink:to="rj-i_BalanceOtherTechnicalIncomeExpenses_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_BondsOtherFixedIncomeSecuritiesMovement_loc" xlink:to="rj-i_BondsOtherFixedIncomeSecuritiesMovement_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_BorrowingsFromGovernmentsCreditInstitutions_loc" xlink:to="rj-i_BorrowingsFromGovernmentsCreditInstitutions_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_CapitalisedAcquisitionCostsMovement_loc" xlink:to="rj-i_CapitalisedAcquisitionCostsMovement_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_CashAndCashEquivalentsCashFlow_loc" xlink:to="rj-i_CashAndCashEquivalentsCashFlow_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_CashFlowFinancingActivitiesDiscontinuedOperations_loc" xlink:to="rj-i_CashFlowFinancingActivitiesDiscontinuedOperations_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_CashFlowFinancingActivities_loc" xlink:to="rj-i_CashFlowFinancingActivities_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_CashFlowFromOperations_loc" xlink:to="rj-i_CashFlowFromOperations_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_CashFlowInvestingActivitiesDiscontinuedOperations_loc" xlink:to="rj-i_CashFlowInvestingActivitiesDiscontinuedOperations_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_CashFlowInvestingActivities_loc" xlink:to="rj-i_CashFlowInvestingActivities_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_CashFlowInvestmentActivities_loc" xlink:to="rj-i_CashFlowInvestmentActivities_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_CashFlowOperatingActivitiesBeforeTax_loc" xlink:to="rj-i_CashFlowOperatingActivitiesBeforeTax_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_CashFlowOperatingActivitiesDiscontinuedOperations_loc" xlink:to="rj-i_CashFlowOperatingActivitiesDiscontinuedOperations_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_CashFlowOperatingActivities_loc" xlink:to="rj-i_CashFlowOperatingActivities_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_CashFlowPensionActivities_loc" xlink:to="rj-i_CashFlowPensionActivities_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_CentralGovernmentContributionsMinusWorkplaceFunction_loc" xlink:to="rj-i_CentralGovernmentContributionsMinusWorkplaceFunction_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_CentralGovernmentContributions_loc" xlink:to="rj-i_CentralGovernmentContributions_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_ChangeAsConsequence_loc" xlink:to="rj-i_ChangeAsConsequence_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_ChangeProvisionPensionObligationsOnBehalfOfParticipants_loc" xlink:to="rj-i_ChangeProvisionPensionObligationsOnBehalfOfParticipants_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_ChangeProvisionPensionObligationsOnBehalfOfPensionFund_loc" xlink:to="rj-i_ChangeProvisionPensionObligationsOnBehalfOfPensionFund_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_ChangesValueInvestmentProperties_loc" xlink:to="rj-i_ChangesValueInvestmentProperties_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_ChangesWorkingCapital_loc" xlink:to="rj-i_ChangesWorkingCapital_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_ComprehensiveIncomeOther_loc" xlink:to="rj-i_ComprehensiveIncomeOther_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_ConstructionContractsAmountRecordedAsLiability_loc" xlink:to="rj-i_ConstructionContractsAmountRecordedAsLiability_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_ConstructionContractsAmount_loc" xlink:to="rj-i_ConstructionContractsAmount_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_CostsOutsourcedWorkAdministrationCustodyAssetsInvestmentEntity_loc" xlink:to="rj-i_CostsOutsourcedWorkAdministrationCustodyAssetsInvestmentEntity_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_Creditors_loc" xlink:to="rj-i_Creditors_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_DBCsDBCHealthcareProductsInProgressNet_loc" xlink:to="rj-i_DBCsDBCHealthcareProductsInProgressNet_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_DesignatedFundMovement_loc" xlink:to="rj-i_DesignatedFundMovement_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_DesignatedFunds_loc" xlink:to="rj-i_DesignatedFunds_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_DesignatedReserveMovement_loc" xlink:to="rj-i_DesignatedReserveMovement_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_DesignatedReservesOther_loc" xlink:to="rj-i_DesignatedReservesOther_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_DesignatedReserves_loc" xlink:to="rj-i_DesignatedReserves_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_DirectInvestmentResults_loc" xlink:to="rj-i_DirectInvestmentResults_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_DisposalsRedemptionsDivestituresClassifiedAsInvestingActivities_loc" xlink:to="rj-i_DisposalsRedemptionsDivestituresClassifiedAsInvestingActivities_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_DividendsPaidClassifiedAsFinancingActivities_loc" xlink:to="rj-i_DividendsPaidClassifiedAsFinancingActivities_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_DividendsPaidClassifiedAsOperatingActivities_loc" xlink:to="rj-i_DividendsPaidClassifiedAsOperatingActivities_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_EmployeeBenefitsExpensesExcludingExternalEmployees_loc" xlink:to="rj-i_EmployeeBenefitsExpensesExcludingExternalEmployees_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_EmployeeBenefitsExpensesOther_loc" xlink:to="rj-i_EmployeeBenefitsExpensesOther_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_EquityAdditions_loc" xlink:to="rj-i_EquityAdditions_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_EquityAndLiabilitiesOther_loc" xlink:to="rj-i_EquityAndLiabilitiesOther_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_EquityWithdrawals_loc" xlink:to="rj-i_EquityWithdrawals_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_ExpenseClaimsPaymentsManagingDirectors_loc" xlink:to="rj-i_ExpenseClaimsPaymentsManagingDirectors_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_ExpensesBorrowingLendingFinancialInstruments_loc" xlink:to="rj-i_ExpensesBorrowingLendingFinancialInstruments_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_ExpensesReimbursementsBorrowingLendingFinancialInstruments_loc" xlink:to="rj-i_ExpensesReimbursementsBorrowingLendingFinancialInstruments_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_ExpensesSpentOnObjectives_loc" xlink:to="rj-i_ExpensesSpentOnObjectives_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_FinanceLeasesDiscountedValue_loc" xlink:to="rj-i_FinanceLeasesDiscountedValue_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_FinanceLeasesGrossInvestment_loc" xlink:to="rj-i_FinanceLeasesGrossInvestment_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_FinanceLeasesMinimalLeasePayments_loc" xlink:to="rj-i_FinanceLeasesMinimalLeasePayments_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_FinancialExpenses_loc" xlink:to="rj-i_FinancialExpenses_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_FinancialIncomeExpenses_loc" xlink:to="rj-i_FinancialIncomeExpenses_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_FinancialIncome_loc" xlink:to="rj-i_FinancialIncome_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_FinancingDeficitSurplusToBeSettledInRatesMovement_loc" xlink:to="rj-i_FinancingDeficitSurplusToBeSettledInRatesMovement_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_FinancingDeficitSurplusToBeSettledInRates_loc" xlink:to="rj-i_FinancingDeficitSurplusToBeSettledInRates_totalLabel_en" xlink:type="arc"/>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_FoundationCapitalAndReservesMovement_loc" xlink:to="rj-i_FoundationCapitalAndReservesMovement_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_FoundationCapitalAndReserves_loc" xlink:to="rj-i_FoundationCapitalAndReserves_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_FundraisingExpenses_loc" xlink:to="rj-i_FundraisingExpenses_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_Funds_loc" xlink:to="rj-i_Funds_totalLabel_en" xlink:type="arc"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_GeneralBankingRisksReserveMovement_loc" xlink:to="rj-i_GeneralBankingRisksReserveMovement_totalLabel_en" xlink:type="arc"/>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="rj-i_ImpairmentAssetsNoncurrentInIncomeStatement_loc" xlink:to="rj-i_ImpairmentAssetsNoncurrentInIncomeStatement_totalLabel_en" xlink:type="arc"/>
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