Summary of Consolidated Business Results of Tokio Marine Holdings, Inc. under Japanese GAAP for the six months ended September 30, 2021
November 19, 2021
Company Name: Tokio Marine Holdings, Inc. (the "Company")Stock Exchange Listing: Tokyo
Securities Code Number: 8766
(URL: https://www.tokiomarinehd.com/en/)
Representative: Satoru Komiya, President
Contact: Tetsuya Hirano, Corporate Planning Dept. (Tel: +81-3-5223-3212)
Scheduled date to file Quarterly Securities Report: November 19, 2021
Scheduled date to commence dividend payments: December 13, 2021
Supplementary information for quarterly financial statements: Available
Quarterly IR Conference Call: To be held for analysts
(Note) All amounts are rounded down and all percentages are rounded.
1. Consolidated Business Results for the six months ended September 30, 2021 (April 1, 2021 to September 30, 2021)
(1) Consolidated Results of Operations
(Note) Percentages represent changes from the same period in the previous fiscal year.
Ordinary income | Ordinary profit | Net income | ||||||||||||||||
attributable to owners of the parent | ||||||||||||||||||
million yen | % | million yen | % | million yen | % | |||||||||||||
Six months ended September 30, 2021 | 2,885,617 | 5.2 | 366,844 | 236.0 | 269,278 | 331.6 | ||||||||||||
Six months ended September 30, 2020 | 2,743,719 | 0.0 | 109,167 | (26.0) | 62,393 | (46.5) | ||||||||||||
(Note) Comprehensive income: | ||||||||||||||||||
Six months ended September 30, 2021 | 527,528 | million yen | 308.7 | % | ||||||||||||||
Six months ended September 30, 2020 | 129,067 | million yen | (19.3) % | |||||||||||||||
Net income per share - Basic | Net income per share - Diluted | |||||||||||||||||
yen | yen | |||||||||||||||||
Six months ended September 30, 2021 | 389.98 | 389.76 | ||||||||||||||||
Six months ended September 30, 2020 | 89.38 | 89.32 | ||||||||||||||||
(2) Consolidated Financial Conditions | ||||||||||||||||||
Total assets | Net assets | Ratio of equity capital to total assets | ||||||||||||||||
million yen | million yen | % | ||||||||||||||||
As of September 30, 2021 | 26,827,146 | 4,136,455 | 15.2 | |||||||||||||||
As of March 31, 2021 | 25,765,368 | 3,722,780 | 14.2 | |||||||||||||||
(Reference) Equity capital: | ||||||||||||||||||
As of September 30, 2021 | 4,080,716 | million yen | ||||||||||||||||
As of March 31, 2021 | 3,664,020 | million yen | ||||||||||||||||
2. Dividends | ||||||||||||||||||
Cash dividends per share | ||||||||||||||||||
First quarter | Second quarter | Third quarter | Year-end | Annual total | ||||||||||||||
yen | yen | yen | yen | yen | ||||||||||||||
Fiscal year 2020 | - | 135.00 | - | 100.00 | 235.00 | |||||||||||||
Fiscal year 2021 | - | 120.00 | ||||||||||||||||
Fiscal year 2021 (Forecast) | - | 125.00 | 245.00 | |||||||||||||||
(Note) 1.Revision to the latest dividend forecast: Yes | ||||||||||||||||||
2.Fiscal year 2020 | Breakdown for Second quarter | Ordinary dividend | 100 yen | One-time dividend for the capital level adjustment(*) | 35 yen | |||||||||||||
Fiscal year 2021 | Breakdown for Second quarter Ordinary dividend 120 yen | |||||||||||||||||
Fiscal year 2020 | Breakdown for Annual total | Ordinary dividend | 200 yen | One-time dividend for the capital level adjustment(*) | 35 yen | |||||||||||||
Fiscal year 2021 (Forecast) Breakdown for Annual total | Ordinary dividend | 245 yen | ||||||||||||||||
(*)The Company resolved the one-time dividends aiming to implement flexible financial policies. |
3. Consolidated Business Forecasts for the fiscal year 2021 (April 1, 2021 to March 31, 2022)
(Note) Percentages represent changes from the previous fiscal year.
Ordinary profit | Net income | Net income per share - Basic | |||||
attributable to owners of the parent | |||||||
million yen | % | million yen | % | yen | |||
Fiscal year 2021 | 480,000 | 80.0 | 345,000 | 113.2 | 501.55 |
(Note) Revision to the latest Consolidated Business Forecasts: Yes
* Notes
- Changes in significant subsidiaries during the six months ended September 30, 2021 (Changes in specified subsidiaries that resulted in a change in the scope of consolidation): None
- Changes in accounting policies, changes in accounting estimates, and retrospective restatements
- Changes in accounting policies to reflect amendments of accounting standards: Yes
- Changes in accounting policies other than (a): None
- Changes in accounting estimates: None
- Retrospective restatements: None
(Note) Please refer to Appendix p. 7 "1. Consolidated Financial Statements and Major Notes (5) Changes in accounting policies" for details.
(3) Number of shares issued (common stock) | |
(a) Total number of shares issued including treasury stock | 697,500,000 shares |
As of September 30, 2021 | |
As of March 31, 2021 | 697,500,000 shares |
(b) Number of treasury stock held | 12,248,351 shares |
As of September 30, 2021 | |
As of March 31, 2021 | 4,226,975 shares |
(c) Average number of shares outstanding | 690,480,886 shares |
During the six months ended September 30, 2021 | |
During the six months ended September 30, 2020 | 698,047,999 shares |
*"Summary of Consolidated Business Results" is outside the scope of interim external audit.
*Notes concerning the business forecasts and other items
- Business forecasts are prepared based on business results for previous years, information available to the Company as of the release date of this document and certain assumptions. Actual results may significantly differ affected by various factors.
- The Company prepared its consolidated interim financial statements for the six months ended September 30, 2021 since it is a "specific business company" defined in Article 17-15, paragraph 2 of the Cabinet Office Ordinance on Disclosure of Company Information.
Tokio Marine Holdings, Inc.
Contents of Appendix
1. Consolidated Financial Statements and Major Notes …………………………………………………………………………... | 2 |
(1) Consolidated Balance Sheet …………………………………………………………………………………………………… | 2 |
(2) Consolidated Statement of Income and Consolidated Statement of Comprehensive Income ………………………………… | 3 |
(3) Consolidated Statement of Changes in Shareholders' Equity …………………………………………………………………. | 5 |
(4) Notes regarding going concern assumption …………………………………………………………………………………... | 6 |
(5) Changes in accounting policies ……………………………………………………………………………………………….. | 7 |
2. Others ………………………………………………………………………………………………………………………… | 7 |
(1) Summary of Consolidated Business Results ………………………………………………………………………………… | 7 |
(2) Premiums written and claims paid by lines of business …………………………………………………………………….... | 8 |
(3) Securities …………………………………………………………………………………………………………………….... | 9 |
1
Tokio Marine Holdings, Inc.
1. Consolidated Financial Statements and Major Notes
- Consolidated Balance Sheet
(Yen in millions) | ||
As of March 31, 2021 | As of September 30, 2021 | |
Assets | ||
Cash and bank deposits | 812,011 | 964,480 |
Receivables under resale agreements | 999 | 17,999 |
Monetary receivables bought | 1,377,728 | 1,528,061 |
Money trusts | 2,378 | 9 |
Securities | 18,741,600 | 19,144,621 |
Loans | 1,626,615 | 1,804,146 |
Tangible fixed assets | 334,501 | 337,488 |
Intangible fixed assets | 1,054,990 | 1,081,860 |
Other assets | 1,783,213 | 1,909,786 |
Net defined benefit assets | 3,391 | 4,359 |
Deferred tax assets | 37,224 | 43,022 |
Customers' liabilities under acceptances and guarantees | 1,997 | 1,878 |
Allowance for doubtful accounts | (11,284) | (10,569) |
Total assets | 25,765,368 | 26,827,146 |
Liabilities | ||
Insurance liabilities | 18,020,554 | 18,649,602 |
Outstanding claims | 3,157,123 | 3,388,975 |
Underwriting reserves | 14,863,430 | 15,260,626 |
Corporate bonds | 230,597 | 219,104 |
Other liabilities | 2,992,122 | 3,000,329 |
Payables under securities lending transactions | 1,509,051 | 1,318,944 |
Other liabilities | 1,483,071 | 1,681,384 |
Net defined benefit liabilities | 254,274 | 256,489 |
Provision for employees' bonus | 75,210 | 60,908 |
Provision for share awards | - | 2,959 |
Reserves under special laws | 128,006 | 133,140 |
Reserve for price fluctuation | 128,006 | 133,140 |
Deferred tax liabilities | 321,141 | 352,711 |
Negative goodwill | 18,682 | 13,567 |
Acceptances and guarantees | 1,997 | 1,878 |
Total liabilities | 22,042,587 | 22,690,691 |
Net assets | ||
Shareholders' equity | ||
Share capital | 150,000 | 150,000 |
Retained earnings | 1,788,764 | 1,987,913 |
Treasury stock | (23,211) | (67,253) |
Total shareholders' equity | 1,915,553 | 2,070,659 |
Accumulated other comprehensive income | ||
Unrealized gains (losses) on available-for-sale securities | 1,908,438 | 1,982,047 |
Deferred gains (losses) on hedge transactions | 2,787 | 4,697 |
Foreign currency translation adjustments | (149,098) | 36,009 |
Remeasurements of defined benefit plans | (13,661) | (12,697) |
Total accumulated other comprehensive income | 1,748,467 | 2,010,056 |
Stock acquisition rights | 2,379 | 33 |
Non-controlling interests | 56,380 | 55,705 |
Total net assets | 3,722,780 | 4,136,455 |
Total liabilities and net assets | 25,765,368 | 26,827,146 |
2
Tokio Marine Holdings, Inc.
(2) Consolidated Statement of Income and Consolidated Statement of Comprehensive Income
(Consolidated Statement of Income)
(Yen in millions) | ||
Six months ended | Six months ended | |
September 30, 2020 | September 30, 2021 | |
(April 1, 2020 to | (April 1, 2021 to | |
September 30, 2020) | September 30, 2021) | |
Ordinary income | 2,743,719 | 2,885,617 |
Underwriting income | 2,345,267 | 2,457,450 |
Net premiums written | 1,809,579 | 1,920,332 |
Deposit premiums from policyholders | 43,049 | 38,031 |
Investment income on deposit premiums | 19,008 | 16,897 |
Life insurance premiums | 469,462 | 478,909 |
Investment income | 337,542 | 360,546 |
Interest and dividends | 242,069 | 272,534 |
Gains on money trusts | 201 | 44 |
Gains on trading securities | - | 16,436 |
Gains on sales of securities | 78,736 | 69,283 |
Gains on redemption of securities | 361 | 2,311 |
Investment gains on separate accounts | 24,755 | 10,029 |
Transfer of investment income on deposit premiums | (19,008) | (16,897) |
Other ordinary income | 60,908 | 67,621 |
Amortization of negative goodwill | 5,114 | 5,114 |
Ordinary expenses | 2,634,552 | 2,518,773 |
Underwriting expenses | 2,111,330 | 2,005,258 |
Net claims paid | 898,935 | 940,677 |
Loss adjustment expenses | 71,969 | 78,702 |
Agency commissions and brokerage | 343,265 | 368,549 |
Maturity refunds to policyholders | 69,326 | 79,198 |
Dividends to policyholders | 3 | 1 |
Life insurance claims | 195,022 | 209,863 |
Provision for outstanding claims | 173,079 | 73,876 |
Provision for underwriting reserves | 357,331 | 250,181 |
Investment expenses | 69,980 | 27,863 |
Losses on trading securities | 6,282 | - |
Losses on sales of securities | 14,530 | 9,793 |
Impairment losses on securities | 15,339 | 5,652 |
Losses on redemption of securities | 265 | 175 |
Losses on derivatives | 25,062 | 8,428 |
Operating and general administrative expenses | 439,825 | 474,254 |
Other ordinary expenses | 13,416 | 11,396 |
Interest expenses | 6,822 | 4,140 |
Increase in allowance for doubtful accounts | 2,752 | - |
Losses on bad debts | 40 | 74 |
Equity in losses of affiliates | 1,220 | 2,491 |
Ordinary profit | 109,167 | 366,844 |
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Tokio Marine Holdings Inc. published this content on 19 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 November 2021 08:32:09 UTC.