July 4, 2006
Millea Holdings, Inc.
2-1 Marunouchi 1-chome, Chiyoda-ku, Tokyo
TSE code number: 8766
Appointment of a temporary independent auditor
Millea Holdings, Inc. (the "Company") announced that on July 4, 2006, pursuant to the provisions of Article 346, paragraphs 4 and 6 of the Corporation Law, the Board of Corporate Auditors has appointed PricewaterhouseCoopers Aarata as the Company’s temporary independent auditor under Japanese Law.
1. Reasons for the appointment
On May 10, 2006 the Company’s former independent auditor, ChuoAoyama PricewaterhouseCoopers, was ordered by the Financial Services Agency a two-month suspension of auditing services from July 1, 2006 to August 31, 2006. As a result, ChuoAoyama PricewaterhouseCoopers lost its capacity to serve as the Company’s independent auditor under Japanese Law as of July 1, 2006. Accordingly, the Board of Corporate Auditors appointed PricewaterhouseCoopers Aarata as a temporary independent auditor under Japanese Law at the meeting of the Board of Corporate Auditors held on July 4, 2006.
As for the appointment of an independent auditor, the Company intends to make a proposal at the ordinary general meeting of shareholders scheduled for June 2007.
2. Outgoing independent auditor
3. Incoming temporary independent auditor