November 7, 2003
Revised Forecast of Financial Results
for the First Half of Fiscal 2003 and the Full Fiscal 2003 |
NIPPONKOA Insurance
Co., Ltd
President: Ken Matsuzawa
NIPPONKOA Insurance Co., Ltd. ("the Company") has revised its forecast of
non-consolidated financial results for the first half of fiscal 2003 (from April 1, 2003
to September 30, 2003) and the full fiscal 2003 (from April 1, 2003 to March 31, 2004),
published on May 19, 2003, and its forecast of consolidated financial results for the same
periods, published on May 28, 2003.
1. Revised Forecast for the First Half of Fiscal
2003
(1)Revised Forecast of Non-consolidated Financial
Results for the First Half of Fiscal 2003 (From April 1, 2003 to September 30, 2003)
<Reason for the Revision >
The upturn in domestic stock prices has brought increased gains on the sale of securities
through equity sales, along with decreased revaluation loss on securities, leading the
Company to revise upward its forecast of ordinary profit and net income.
(2)Revised Forecast of Consolidated Financial Results for the
First Half of Fiscal 2003 (From April 1, 2003 to September 30, 2003)
<Reason for the Revision >
Primarily due to the revision of the forecast of non-consolidated financial results as
described above in (1), the Company has revised its forecast of consolidated financial
results correspondingly.
2. Revised Forecast for the Full Fiscal 2003
(1) Revised Forecast of Non-consolidated Financial
Results for Fiscal 2003 (From April 1, 2003 to March 31, 2004)
<Reason for the Revision >
Based on the assumption that revaluation loss on securities remains unchanged from the
amount recorded for the first half-year, and in consideration of the gain on sale of
securities recorded for the first half-year and other factors, the Company has revised
upward its forecast of ordinary profit and net income.
(2)Revised Forecast of Consolidated Financial Results for Fiscal
2003 (From April 1, 2003 to March 31, 2004)
<Reason for the Revision >
Primarily due to the revision of the forecast of non-consolidated financial results as
described above in (1), the Company has revised its forecast of consolidated financial
results correspondingly.
Cautionary
Statement
Estimates, projections, targets and other statements contained in this
material that are not historical facts are forward-looking statements about the future
performance and plans of NIPPONKOA Insurance Co., Ltd. (the "Company"). Such forward-looking statements are based on the Company's assumptions and beliefs in light of the information currently available
to it. Therefore, those statements do not guarantee future performance, but involve risks
and uncertainties. The Company cautions you that a number of important factors could cause
actual results to differ materially from those contained in the forward-looking
statements. Such factors include, but are not limited to, (1) general economic conditions
in the Company's market, mainly Japan, (2) business
conditions in the insurance industry, especially, increased competition, (3) fluctuation
of exchange rates, and (4) the regulatory environment.
|
