Millea Holdings, Inc. (the "Company") announced today that it projects the amount of its impairment losses on securities for the fiscal year ended March 31, 2008 (April 1, 2007 to March 31, 2008, "FY 2007") (consolidated basis) as shown below.
1. Impairment losses on securities for FY 2007 (consolidated basis)
（Yen in billions except percentages) | (A) Total amount of impairment losses on securities for FY 2007
(consolidated basis) | 38.2 |
| (B) Net assets as of March 31, 2007 (consolidated basis)
(A) / (B) × 100 | 3,410.7
(1.1%)
|
| (C) Ordinary profit for the fiscal year ended March 31, 2007 ("FY 2006")
(consolidated basis)
(A) / (C) × 100 | 168.0
(22.7%) |
| (D) Net income for FY 2006 (consolidated basis)
(A) / (D) × 100
| 93.0
(41.1%) |
Note 1: The figure shown in (A) is the projected amount. Securities available for sale with a determinable fair value have been written down to fair value and decreases in the fair value have been accounted for as impairment losses on securities if a decline in such fair value amounts to 30% or more of its book value.
Note 2: (A) consists primarily of impairment losses of 30.2 billion yen of domestic equity securities due to the decline in the Japanese stock market.2. Forecast of business results for FY 2007 (consolidated basis)
Although business results for FY 2007 are still being calculated, a revision of the forecast of the business results announced on November 20, 2007 is not currently expected.
