 |
| November 7, 2003 |
|
| Revised business
results forecast for the fiscal year ending March 31, 2004 |
| Mitsui Sumitomo Insurance Co., Ltd. (MSI / President: Hiroyuki
Uemura) hereby announces that it has revised the previous forecasts
of its non-consolidated and consolidated business results for the
fiscal year ending March 31, 2004 that were publicized on August 21,
2003. |
| 1. Revised business results forecast for the six months ended
September 30, 2003 |
|
| (1) Business results forecast on a non-consolidated basis |
|
|
|
Net premiums written |
Ordinary profit |
Net income for the
interim period |
| Previous forecast (A) |
(647.0)
644.0 |
97.0 |
60.0 |
| Revised forecast (B) |
(651.0)
648.0 |
129.0 |
79.0 |
| Difference (B-A) |
(4.0)
4.0 |
32.0 |
19.0 |
| Rate of increase (%) |
(0.6%)
0.6% |
33.0% |
31.7% |
|
|
| Reference: |
Results for the corresponding six months of the previous fiscal
year
(Apr. 1, 2002 to Sept. 30, 2002) |
|
|
| Results |
(626.7)
619.5 |
44.9 |
29.9 |
|
|
Note: For the purpose of easy comparison with other non-life insurance
companies, "Net premiums written" in parenthesis exclude
good result return premiums of MSI's unique Automobile Insurance product
"ModoRich", which contains a special clause of premium adjustment
and refund at maturity; the same applies hereunder. |
|
Reason for the revision
MSI revised upward its forecasts of ordinary profit and net income
due mainly to the fact that the amounts of losses on natural disasters
and impairment losses of securities for the six months ended September
30, 2003 were less than the initial forecasts. |
| (2) Business results forecast on a consolidated basis |
|
|
|
Ordinary income |
Ordinary profit |
Net income for the
interim period |
| Previous forecast (A) |
1,021.0 |
99.0 |
61.0 |
| Revised forecast (B) |
1,100.0 |
132.0 |
80.0 |
| Difference (B-A) |
79.0 |
33.0 |
19.0 |
| Rate of increase (%) |
7.7% |
33.3% |
31.1% |
|
|
| Reference: |
Results for the corresponding six months of the previous fiscal
year
(Apr. 1, 2002 to Sept. 30, 2002) |
|
|
|
|
Reason for the revision
MSI revised its forecast of consolidated business results in accordance
with the aforementioned revision of the forecast of non-consolidated
business results. |
| 2. Revised business results forecast for the fiscal year ending
March 31, 2004 |
|
| (1) Business results forecast on a non-consolidated basis |
|
|
|
Net premiums written |
Ordinary profit |
Net income |
| Previous forecast (A) |
(1,297.0)
1,295.0 |
126.0 |
73.5 |
| Revised forecast (B) |
(1,289.0)
1,286.0 |
134.5 |
77.0 |
| Difference (B-A) |
(-8.0)
-9.0 |
8.5 |
3.5 |
| Rate of increase (%) |
(-0.6%)
-0.7% |
6.7% |
4.8% |
|
|
| Reference: |
Results for the previous fiscal year (Apr. 1, 2002 to Mar.
31, 2003) |
|
|
| Results |
(1,250.5)
1,235.3 |
47.6 |
32.3 |
|
|
Reason for the revision
MSI revised upward its forecasts of ordinary profit and net income
due mainly to the estimation that the amounts of losses on natural
disasters would be less than the initial forecasts. |
| (2) Business results forecast on a consolidated basis |
|
|
|
Ordinary income |
Ordinary profit |
Net income |
| Previous forecast (A) |
1,986.0 |
131.0 |
76.5 |
| Revised forecast (B) |
2,015.0 |
145.0 |
81.0 |
| Difference (B-A) |
29.0 |
14.0 |
4.5 |
| Rate of increase (%) |
1.5% |
10.7% |
5.9% |
|
|
| Reference: |
Results for the previous fiscal year (Apr. 1, 2002 to Mar.
31, 2003) |
|
|
| Results |
1,920.3 |
49.5 |
32.8 |
|
|
Reason for the revision
MSI revised its forecast of consolidated business results in accordance
with the aforementioned revision of the forecast of non-consolidated
business results. |
|
