November 5, 2010
Tokio Marine Holdings, Inc.
President: Shuzo Sumi
TSE code number: 8766
Revised forecasts of consolidated business results of Tokio Marine Holdings, Inc. under Japanese GAAP for the six months ended September 30, 2010
Tokio Marine Holdings, Inc. (the "Company") announced today that it has revised the forecasts of its consolidated business results under Japanese GAAP for the six months ended September 30, 2010 ("FY 2010 Interim "), previously announced on May 20, 2010, as detailed below.
1. Revised forecasts for FY2010 Interim
*Note: Announced on May 20, 2010.
2. Explanation of revisions
The ordinary profit and net income forecasts were revised upward mainly due to an upward revision of the business forecasts of Tokio Marine & Nichido Fire Insurance Co., Ltd. ("Tokio Marine & Nichido"), a consolidated subsidiary of the Company, as detailed in "(Reference)" below. Tokio Marine & Nichido revised its original forecasts due to expected decreases in provisions for outstanding claims and increases in gains on derivatives owing to appreciation of the Japanese yen against US Dollars.
The Company’s business forecasts for the fiscal year ending March 31, 2011 that are now being prepared are currently not expected to be revised upward, owing to recent factors such as claims. Details of the business forecasts for the full fiscal year are scheduled to be announced on November 19, 2010, along with its business results for the six months ended September 30, 2010.
(Reference) Set forth below are details of the revised forecasts of non-consolidated business results under Japanese GAAP for the six months ended September 30, 2010 of Tokio Marine & Nichido.