Millea Holdings, Inc.
President: Kunio Ishihara
TSE code number: 8766
Millea Holdings, Inc. (the "Company") announced today that it has revised the original forecasts of business results of the Company and its consolidated subsidiary, Tokio Marine & Nichido Fire Insurance Co., Ltd. ("Tokio Marine & Nichido"), for the fiscal year ending March 31, 2007 (from April 1, 2006 to March 31, 2007) as detailed below.
1. Revised forecast of consolidated business results of the Company for the fiscal year ending
March 31, 2007
(Unit: Million yen, %)
| | Ordinary income | Ordinary profit | Net income |
| Original forecast (A) (*1) | 4,293,000 | 169,000 | 90,000 |
| Revised forecast (B) | 4,164,000 | 151,000 | 78,000 |
| Difference (B)-(A) | -129,000 | -18,000 | -12,000 |
| Rate of increase/decrease | -3.0 % | -10.7% | -13.3% |
| (Reference) Actual results for the fiscal year ended March 31, 2006 | 3,399,984 | 136,563 | 89,960 |
(*1) Announced on November 22, 2006.
2. Revised forecast of non-consolidated business results of Tokio Marine & Nichido for the fiscal
year ending March 31, 2007
(Unit: Million yen, %)
| | Net premiums written | Ordinary profit | Net income |
| Original forecast (A) (*1) | 1,922,000 | 173,000 | 103,000 |
| Revised forecast (B) | 1,922,000 | 145,000 | 85,000 |
| Difference (B)-(A) | - | -28,000 | -18,000 |
| Rate of increase/decrease | - | -16.2% | -17.5% |
| (Reference) Actual results for the fiscal year ended March 31, 2006 | 1,892,754 | 166,080 | 122,180 |
(*1) Announced on November 22, 2006.
3. Reasons for the revisions
(a) Reason for the revision of consolidated business results of the Company for the fiscal year
ending March 31, 2007
The downward revision of forecasted ordinary income is primarily due to a decrease in the forecasted amount of life insurance premiums of Tokio Marine & Nichido Financial Life Insurance Co., Ltd., a consolidated subsidiary of the Company, as compared to the forecasted amount of life insurance premiums underlying the Company's forecast as of November 22, 2006. The downward revision of forecasted ordinary income is also due to a decrease in the amount of forecasted ordinary profit and net income of Tokio Marine & Nichido stated in (b) immediately below.
(b) Reason for the revision of non-consolidated business results of Tokio Marine & Nichido for the
fiscal year ending March 31, 2007
The principal reason for the revision is a decrease in the amount of forecasted ordinary profit and net income of Tokio Marine & Nichido, which is primarily due to an increase in the forecasted amount of claims paid in connection with natural disasters as compared to the forecasted amount of claims paid in connection with natural disasters underlying Tokio Marine & Nichido's forecast as of November 22, 2006.
