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, Nisshin Fire & Marine Insurance Co., Ltd. ("Nisshin Fire"), 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) | 3,694,000 | 156,000 | 83,000 |
| Revised forecast (B) | 4,293,000 | 169,000 | 90,000 |
| Difference (B)-(A) | 599,000 | 13,000 | 7,000 |
| Rate of increase/decrease | 16.2 % | 8.3% | 8.4% |
| (Reference) Actual results for the fiscal year ended March 31, 2006 | 3,399,984 | 136,563 | 89,960 |
(*1) Announced on May 24, 2006.
2. Revised forecast of non-consolidated business results of Nisshin Fire for the fiscal year ending March 31, 2007
(Unit: Million yen, %)
| | Net premiums written | Ordinary profit | Net income |
| Original forecast (A) (*1) | 147,000 | 4,800 | 2,500 |
| Revised forecast (B) | 147,000 | 1,500 | 800 |
| Difference (B)-(A) | - | -3,300 | -1,700 |
| Rate of increase/decrease | - | -68.8% | -68.0% |
| (Reference) Actual results for the fiscal year ended March 31, 2006 | 144,620 | 5,359 | 2,943 |
(*1) Announced on May 24, 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 upward revision of forecasted ordinary income is primarily due to a significant increase projected in the amount of life insurance premium. The increase is a result of strong sales of individual annuity insurance of Tokio Marine & Nichido Financial Life Insurance Co., Ltd., a consolidated subsidiary of the Company.
(b) Reason for the revision of non-consolidated business results of Nisshin Fire 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 forecasted net income of Nisshin Fire, which is primarily due to an increase in the amount of claims incurred in connection with natural disasters such as Typhoon No. 13 which occurred in September 2006.
