April 2,
2004
Revaluation Loss on Securities
as of March 31, 2004 |
NIPPONKOA Insurance Co., Ltd
President: Ken Matsuzawa
NIPPONKOA Insurance Co., Ltd. (the "Company") announces as follows its estimate
of revaluation loss on securities resulting from write-down due to impairment as of March
31, 2004:
Notes:
- In judging the materiality of revaluation loss on securities, the Company uses the
average ordinary profit and average net income for the last five fiscal years. This is
because the Company recorded ordinary loss and net loss for fiscal 2002, for which period
the ordinary profit and the net income are regarded as zero in this calculation.
- In respect of write-down of securities with market value due to impairment, the Company
recognizes revaluation loss on all securities the market value of which has declined by
30% or more of the book value.
- The total amount of revaluation loss on securities as of March 31, 2004 includes
revaluation loss on the stock of Ashikaga Financial Group, Inc. (3.8 billion yen).
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