February 13, 2009
Tokio Marine Holdings, Inc.
President: Shuzo Sumi
TSE code number: 8766
Revised Forecasts of Business Results of Tokio Marine Holdings, Inc. under Japanese GAAP for the Fiscal Year Ending March 31, 2009
Tokio Marine Holdings, Inc. (the "Company") announced today that it has revised its forecasts of business results under Japanese GAAP for the fiscal year ending March 31, 2009 (from April 1, 2008 to March 31, 2009, "FY2008") previously announced on November 19, 2008. The revisions are detailed below.
1. Revised Forecasts of Consolidated Business Results of the Company for FY2008
2. Reasons for the Revisions
Forecasted ordinary income was revised downward primarily due to the projected decrease in yen-based income of the Company's foreign consolidated subsidiaries attributable to the strengthening of the Japanese yen, relative to other major currencies.
Forecasted ordinary profit and forecasted net income were revised downward based on a review of impairment losses on securities, taking into consideration the condition of both domestic and overseas financial markets as of December 31, 2008.
Below are the revised forecasts of non-consolidated business results under Japanese GAAP for FY2008 of Tokio Marine & Nichido Fire Insurance Co., Ltd., a wholly-owned subsidiary of the Company.
(Note Concerning Forecasts of Business Results)
Since the forecasts above are based on information available as of the date of publication of this announcement, the actual results may differ materially due to various factors.