6-K 1 d6k.htm FORM 6-K Form 6-K
Table of Contents

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D. C. 20549

 


FORM 6-K

 


REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 OF

THE SECURITIES EXCHANGE ACT OF 1934

Dated February 9, 2007

Commission File Number: 0-31376

 


MILLEA HOLDINGS, INC.

(Translation of Registrant’s name into English)

 


Tokyo Kaijo Nichido Building Shinkan,

2-1, Marunouchi 1-chome,

Chiyoda-ku, Tokyo 100-0005, Japan

(Address of principal executive offices)

 


Indicate by check mark whether the Registrant files or will file

annual reports under cover of Form 20-F or Form 40-F:

Form 20-F  x         Form 40-F  ¨

Indicate by check mark whether the Registrant by furnishing

the information contained in this form is also thereby furnishing

the information to the Commission pursuant to Rule 12g3-2(b) under

the Securities Exchange Act of 1934.

Yes  ¨        No  x

 



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Table of Documents Submitted

 

Item

    
1.    Revised forecasts of business results under Japanese GAAP for the fiscal year ending March 31, 2007
2.    Summary of consolidated business results of Millea Holdings, Inc. under Japanese GAAP for the nine months ended December 31, 2006
3.    Notice concerning a secondary domestic offering of shares
4.    Announcement regarding share repurchases from the market

 

 


The information contained herein includes certain forward-looking statements that are based on our current plans, targets, expectations, assumptions, estimates and projections about our businesses and operations. These forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may materially differ from those contained in the forward-looking statements as a result of various factors. For a discussion of the factors which may have a material impact upon our financial condition, results of operation and liquidity, see our annual report on Form 20-F for the fiscal year ended March 31, 2006.



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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

   

KABUSHIKI KAISHA MILLEA HOLDINGS

(Millea Holdings, Inc.)

February 9, 2007   By:  

/s/ TAKASHI ITO

        General Manager,
        Corporate Legal Department


Table of Contents

Item 1

(English translation)

February 9, 2007

Millea Holdings, Inc.

President: Kunio Ishihara

TSE code number: 8766

Revised forecasts of business results under Japanese GAAP for the fiscal year ending March 31, 2007

Millea Holdings, Inc. (the “Company”) announced today that it has revised the original forecasts of business results of the Company and its consolidated subsidiary, Tokio Marine & Nichido Fire Insurance Co., Ltd. (“Tokio Marine & Nichido”), for the fiscal year ending March 31, 2007 (from April 1, 2006 to March 31, 2007) as detailed below.

1. Revised forecast of consolidated business results of the Company for the fiscal year ending March 31, 2007

(Unit: Million yen, %)

 

     Ordinary income     Ordinary profit     Net income  

Original forecast (A) (*1)

   4,293,000     169,000     90,000  

Revised forecast (B)

   4,164,000     151,000     78,000  

Difference (B)-(A)

   -129,000     -18,000     -12,000  

Rate of increase/decrease

   -3.0 %   -10.7 %   -13.3 %

(Reference)

Actual results for the fiscal year ended March 31, 2006

   3,399,984     136,563     89,960  

(*1) Announced on November 22, 2006.

2. Revised forecast of non-consolidated business results of Tokio Marine & Nichido for the fiscal year ending March 31, 2007

(Unit: Million yen, %)

 

     Net premiums written    Ordinary profit     Net income  

Original forecast (A) (*1)

   1,922,000    173,000     103,000  

Revised forecast (B)

   1,922,000    145,000     85,000  

Difference (B)-(A)

   —      -28,000     -18,000  

Rate of increase/decrease

   —      -16.2 %   -17.5 %

(Reference)

Actual results for the fiscal year ended March 31, 2006

   1,892,754    166,080     122,180  

(*1) Announced on November 22, 2006.


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3. Reasons for the revisions

 

(a) Reason for the revision of consolidated business results of the Company for the fiscal year ending March 31, 2007

The downward revision of forecasted ordinary income is primarily due to a decrease in the forecasted amount of life insurance premiums of Tokio Marine & Nichido Financial Life Insurance Co., Ltd., a consolidated subsidiary of the Company, as compared to the forecasted amount of life insurance premiums underlying the Company’s forecast as of November 22, 2006. The downward revision of forecasted ordinary income is also due to a decrease in the amount of forecasted ordinary profit and net income of Tokio Marine & Nichido stated in (b) immediately below.

 

(b) Reason for the revision of non-consolidated business results of Tokio Marine & Nichido for the fiscal year ending March 31, 2007

The principal reason for the revision is a decrease in the amount of forecasted ordinary profit and net income of Tokio Marine & Nichido, which is primarily due to an increase in the forecasted amount of claims paid in connection with natural disasters as compared to the forecasted amount of claims paid in connection with natural disasters underlying Tokio Marine & Nichido’s forecast as of November 22, 2006.

For further information, please contact:

Kazuyuki Nakano

Manager

Corporate Communications and Investor Relations Group

Corporate Planning Dept.

Phone: 03-5223-3213

Noriaki Tashimo

Group Leader

Corporate Accounting Dept.

Phone: 03-6212-3344


Table of Contents

(English translation)

   Item 2

Summary of consolidated business results of Millea Holdings, Inc. under Japanese GAAP for the nine months ended December 31, 2006

February 9, 2007

Company Name: Millea Holdings, Inc.

Securities Code Number: 8766

Stock Exchange Listings: Tokyo and Osaka

Representative: Kunio Ishihara, President, Millea Holdings, Inc.

 

Contact:

   Kazuyuki Nakano, Corporate Planning Dept., Millea Holdings, Inc. Phone: 03-5223-3213
   Noriaki Tashimo, Corporate Accounting Dept., Millea Holdings, Inc. Phone: 03-6212-3344

1. Matters regarding the presentation of quarterly results

Difference in accounting method for recognizing net premiums written: Applicable

The recognition policy for net premiums written employed for quarterly figures, such as the inclusion of premiums for insurance contracts which have not started as of December 31, 2006, is different from the recognition policy employed for annual and semi-annual reports.

2. Summary of business results for the nine months ended December 31, 2006

(From April 1, 2006 through December 31, 2006)

Amounts are truncated and percentages are rounded to the nearest one-tenth of one percent.

(1) Net premiums written

 

     Yen in millions    %

For the nine months ended December 31, 2006

   1,594,667    8.4

For the nine months ended December 31, 2005

   1,471,186    1.9

(Reference) For the year ended March 31, 2006

   1,978,664    2.8

(Note) Percentages show increase or decrease from the same period of the previous year.

(Supplementary information regarding net premiums written)

Increase from the nine months ended December 31, 2005 is 8.4% mainly due to a 2.0 % growth in Tokio Marine’s Auto and Fire insurance premiums, as well as a rise of the number of consolidated subsidiaries and growth thereof.

(2) Matters that had a significant effect on financial conditions and results of operations for the nine months ended December 31, 2006

None.

3. Revised forecast of business results for the year ending March 31, 2007

(From April 1, 2006 through March 31, 2007)

 

    

Ordinary income

(million yen)

   Ordinary profit
(million yen)
   Net income
(million yen)
   Net income
per share (yen)

Revised Forecast

   4,164,000    151,000    78,000    93.63

(Reasons for the revisions)

The downward revision of forecasted ordinary income is primarily due to a decrease in the forecasted amount of life insurance premiums of Tokio Marine & Nichido Financial Life Insurance Co., Ltd., a consolidated subsidiary of the Company, as compared to the forecasted amount of life insurance premiums underlying the Company’s forecast as of November 22, 2006.

An additional reason for the revision is a decrease in the amount of forecasted ordinary profit and net income of Tokio Marine & Nichido, a consolidated subsidiary of the company, which is primarily due to an increase in the forecasted amount of claims paid in connection with natural disasters as compared to the forecasted amount of claims paid in connection with natural disasters underlying Tokio Marine & Nichido’s forecast as of November 22, 2006.

The information contained herein includes certain forward-looking statements that are based on our current plans, targets, expectations, assumptions, estimates and projections about our businesses and operations. These forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may materially differ from those contained in the forward-looking statements as a result of various factors.


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<Consolidated results>

Premiums written and claims paid by lines of insurance

Direct premiums written (including funds for deposit-type insurance)

(Yen in millions, %)

 

    

Nine months ended December 31, 2006

(From April 1, 2006 to December 31, 2006)

  

Nine months ended December 31, 2005

(From April 1, 2005 to December 31, 2005)

  

(Reference) Year ended March 31, 2006

(From April 1, 2005 to March 31, 2006)

     Premiums    Increase/
decrease
   Composition    Premiums    Increase/
decrease
   Composition    Premiums    Increase/
decrease
   Composition

Fire

   284,479    7.1    15.9    265,562    7.0    15.9    366,172    4.9    16.5

Marine

   71,070    13.9    4.0    62,398    7.7    3.7    85,449    8.8    3.9

Personal accident

   263,730    -1.1    14.7    266,529    3.0    15.9    327,762    0.5    14.8

Automobile

   732,081    9.2    40.8    670,703    1.8    40.0    892,401    2.7    40.3

Compulsory automobile liability (CALI)

   237,246    3.4    13.2    229,528    -4.2    13.7    292,183    -3.6    13.2

Others

   205,309    14.0    11.4    180,172    -1.8    10.8    251,779    -0.3    11.4
                                            

Total

   1,793,917    7.1    100.0    1,674,895    1.7    100.0    2,215,748    1.7    100.0
                                            

Fund for deposit- type insurance

   175,884    -5.1    9.8    185,418    5.5    11.1    225,090    -0.8    10.2
                                            

Net premiums written

(Yen in millions, %)

 

    

Nine months ended December 31, 2006

(From April 1, 2006 to December 31, 2006)

  

Nine months ended December 31, 2005

(From April 1, 2005 to December 31, 2005)

  

(Reference) Year ended March 31, 2006

(From April 1, 2005 to March 31, 2006)

     Premiums    Increase/
decrease
   Composition    Premiums    Increase/
decrease
   Composition    Premiums    Increase/
decrease
   Composition

Fire

   244,113    17.7    15.3    207,397    9.7    14.1    289,645    10.1    14.6

Marine

   64,822    11.5    4.1    58,117    8.1    4.0    80,253    9.7    4.1

Personal accident

   123,458    5.2    7.7    117,317    -0.5    8.0    151,734    0.5    7.7

Automobile

   726,340    8.8    45.5    667,396    2.1    45.4    887,051    3.0    44.8

CALI

   242,819    0.9    15.2    240,744    -4.0    16.4    316,500    -3.8    16.0

Others

   193,111    7.2    12.1    180,214    0.7    12.2    253,478    2.3    12.8
                                            

Total

   1,594,667    8.4    100.0    1,471,186    1.9    100.0    1,978,664    2.8    100.0
                                            

Net claims paid

(Yen in millions, %)

 

    

Nine months ended December 31, 2006

(From April 1, 2006 to December 31, 2006)

  

Nine months ended December 31, 2005

(From April 1, 2005 to December 31, 2005)

  

(Reference) Year ended March 31, 2006

(From April 1, 2005 to March 31, 2006)

     Premiums    Increase/
decrease
   Composition    Premiums    Increase/
decrease
   Composition    Premiums    Increase/
decrease
   Composition

Fire

   109,978    20.2    12.1    91,496    -36.4    11.0    123,788    -34.3    11.1

Marine

   32,371    13.0    3.6    28,644    22.2    3.5    40,519    10.3    3.6

Personal accident

   54,345    9.4    6.0    49,663    6.3    6.0    64,881    6.1    5.8

Automobile

   430,870    9.6    47.4    393,251    -0.5    47.4    535,300    1.7    47.9

CALI

   177,119    5.3    19.5    168,126    29.0    20.3    222,601    15.9    19.9

Others

   104,456    5.6    11.5    98,901    -0.8    11.9    130,345    -6.5    11.7
                                            

Total

   909,142    9.5    100.0    830,084    -1.1    100.0    1,117,437    -2.3    100.0
                                            

(Note 1) Numbers are after elimination of inter-segment transactions.


Table of Contents

<Consolidated results>

Securities

(Yen in millions)

 

     As of December 31, 2006    As of December 31, 2005    (Reference) As of March 31, 2006
     Acquisition cost    Market value    Difference    Acquisition cost    Market value    Difference    Acquisition cost    Market value    Difference

Bonds

   3,162,540    3,141,874    -20,665    2,881,949    2,872,289    -9,660    3,233,624    3,204,171    -29,452

Stocks

   1,291,645    4,578,762    3,287,117    1,163,078    4,087,217    2,924,138    1,155,589    4,288,807    3,133,218

Foreign securities

   784,087    850,256    66,168    594,899    642,000    47,101    621,284    659,988    38,704

Others

   265,115    298,878    33,762    273,122    302,170    29,048    276,184    303,760    27,576
                                            

Total

   5,503,388    8,869,772    3,366,383    4,913,049    7,903,678    2,990,628    5,286,681    8,456,728    3,170,046
                                            

 

  (Note 1) The table above shows securities with a market value other than (a) trading securities and (b) debt securities held to maturity with a market value.

 

  (Note 2) Acquisition costs as of December 31, 2005 and December 31, 2006 are not amortized and impairment losses are not recognized. Acquisition costs as of March 31, 2006 are amortized and impairment losses have been recognized.

 

  (Note 3) Market values are based on various considerations including quoted prices at the end of the month.

 

  (Note 4) The table above includes foreign mortgage securities as well as securities on the balance sheet.


Table of Contents

<Consolidated results>

Derivative financial instruments

(Yen in millions)

 

      As of December 31, 2006    As of December 31, 2005    (Reference) As of March 31, 2006
     

Contract

amount

   Market value    Unrealized
gain or loss
   Contract
amount
   Market value    Unrealized
gain or loss
   Contract
amount
   Market value    Unrealized
gain or loss

Foreign currency-related instruments

                          

Foreign exchange forwards

                          

Short

   261,921      -8,284      -8,284    253,888    -3,753    -3,753    268,306    -3,731    -3,731

Long

   57,558      1,145      1,145    65,459    914    914    71,637    754    754

Currency options

                          

Short

   36,735          34,310          30,938      
     844      1,234      -389    588    728    -139    735    1,198    -463

Long

   34,199          54,654          21,722      
     532      1,132      600    386    643    257    389    912    522

Currency swaps

   1,331,449      -20,326      -20,326    1,175,062    -12,385    -12,385    1,210,264    -13,219    -13,219

Interest rate-related instruments

                          

Interest forward

                          

Short

   68,145      23      23    19,935    13    13    8,246    1    1

Long

   25,000      1      1    126,963    -29    -29    76,294    -5    -5

Interest options

                          

Short

   194,691          744,433          293,919      
     1,316      2,473      -1,157    2,496    2,074    421    1,731    3,837    -2,105

Long

   109,672          88,028          88,341      
     506      779      272    579    725    146    519    510    -9

Interest rate swap

   13,280,603      7,317      7,317    9,814,298    30,490    30,490    10,572,909    12,749    12,749

Equity-related instruments

                          

Equity index futures

                          

Short

   31,677      -1,194      -1,194    30,107    -329    -329    33,711    -1,653    -1,653

Long

   54,814      984      984    19,984    394    394    6,418    12    12

Equity index options

                          

Short

   57,411          51,776          12,119      
     495      -599      1,095    695    151    543    222    -1,912    2,135

Long

   89,471          44,323          42,326      
     8,702      4,779      -3,922    457    -1,568    -2,025    7,273    4,171    -3,102

Equity options

                          

Short

   670          —            2,815      
     56      0      56    —      —      —      82    41    40

Long

   300          —            2,815      
     32      104      72    —      —      —      48    41    -6

Bond-related instruments

                          

Bond futures

                          

Short

   48,470      323      323    62,584    -159    -159    32,557    324    324

Long

   105,043      -1,182      -1,182    36,600    131    131    33,539    -275    -275

Bond futures options

                          

Short

   49,557          42,443          33,012      
     39      78      -39    56    48    7    12    12    -0

Long

   28,242          17,469          9,243      
     57      56      -1    49    32    -17    17    13    -4

Over-the-counter bond options

                          

Short

   131,142          75,358          83,846      
     621      199      421    134    211    -76    150    250    -99

Long

   87,257          75,846          31,752      
     809      228      -581    162    232    70    100    182    81

Weather-related instruments

                          

Weather derivatives

                          

Short

   2,488          3,258          2,216      
     109      1,164      -1,054    161    -327    489    93    -87    181

Credit-related instruments

                          

Credit derivatives

                          

Short

   1,079,758      73      73    1,147,591    4,027    4,027    1,034,201    1,130    1,130

Long

   83,037      -785      -785    378,327    -3,366    -3,366    309,174    -1,760    -1,760

Commodity

                          

Commodity options

                          

Short

   —            —            3      
     —        —        —      —      —      —      2    0    1

Long

   —            —            3      
     —        —        —      —      —      —      1    0    -0

Commodity swap

   74,911      -368      -368    81,486    1,380    1,380    81,648    1,012    1,012
                                                  

Total

   17,324,231    D 10,638    D 26,900    14,444,194    20,280    17,004    14,393,991    4,512    -7,491
                                                  

 

(Note 1) Option premiums are shown beneath the contract amounts for currency options, interest options, equity index options, equity options, bond futures options, over-the-counter bond options, weather derivatives and commodity options.

 

(Note 2) The synthetic option is classified into transactions such as short or long by receiving or paying option premium at the time of the contract.

 

(Note 3) Forward transactions translated at contracted rate, the relating forward contracts of which qualify for hedge accounting, are not included.


Table of Contents

<Reference>

Non-consolidated results of Tokio Marine & Nichido

Direct premiums written (including funds for deposit-type insurance)

(Yen in millions, %)

 

     Nine months ended December 31, 2006
(From April 1, 2006 to December 31, 2006)
   Nine months ended December 31, 2005
(From April 1, 2005 to December 31, 2005)
   (Reference) Year ended March 31, 2006
(From April 1, 2005 to March 31, 2006)
     Premiums    Increase/
decrease
   Composition    Premiums    Increase/
decrease
   Composition    Premiums    Increase/
decrease
   Composition

Fire

   258,849    1.1    15.6    255,955    5.5    15.7    352,354    3.2    16.4

Marine

   59,220    10.7    3.6    53,478    6.4    3.3    73,624    7.7    3.4

Personal accident

   257,344    -3.1    15.5    265,595    2.9    16.3    326,347    0.3    15.2

Automobile

   666,981    2.0    40.1    653,763    -0.1    40.1    864,342    0.1    40.3

Compulsory automobile liability (CALI)

   231,304    0.8    13.9    229,528    -4.2    14.1    292,183    -3.6    13.6

Others

   189,722    11.4    11.4    170,373    -2.4    10.5    238,134    -1.3    11.1
                                            

Total

   1,663,423    2.1    100.0    1,628,696    0.5    100.0    2,146,986    0.2    100.0
                                            

Fund for deposit-type insurance

   172,794    -6.8    10.4    185,418    5.5    11.4    225,090    -0.8    10.5
                                            

Net premiums written

(Yen in millions, %)

 

    Nine months ended December 31, 2006
(From April 1, 2006 to December 31, 2006)
  Nine months ended December 31, 2005
(From April 1, 2005 to December 31, 2005)
 

(Reference) Year ended March 31, 2006

(From April 1, 2005 to March 31, 2006)

    Premiums   Increase/
decrease
  Composition   Premiums   Increase/
decrease
  Composition   Premiums   Increase/
decrease
  Composition

Fire

  184,513   1.8   12.8   181,240   3.6   12.9   255,199   3.9   13.5

Marine

  54,401   8.5   3.8   50,157   5.8   3.6   69,987   7.6   3.7

Personal accident

  118,776   2.5   8.3   115,929   -0.8   8.2   149,715   0.1   7.9

Automobile

  662,775   2.0   46.1   649,685   0.2   46.1   858,279   0.5   45.3

CALI

  237,453   -1.4   16.5   240,744   -4.0   17.1   316,500   -3.8   16.7

Others

  180,631   5.0   12.6   172,076   -0.5   12.2   243,071   1.2   12.8
                                   

Total

  1,438,551   2.0   100.0   1,409,833   -0.1   100.0   1,892,754   0.5   100.0
                                   

Net claims paid

(Yen in millions, %)

 

    Nine months ended December 31, 2006
(From April 1, 2006 to December 31, 2006)
  Nine months ended December 31, 2005
(From April 1, 2005 to December 31, 2005)
 

(Reference) Year ended March 31, 2006

(From April 1, 2005 to March 31, 2006)

    Premiums   Increase/
decrease
  Composition   Premiums   Increase/
decrease
  Composition   Premiums   Increase/
decrease
  Composition

Fire

  91,015   9.2   10.9   83,331   -41.3   10.4   110,889   -38.9   10.3

Marine

  28,861   8.8   3.5   26,516   24.3   3.3   37,368   9.7   3.5

Personal accident

  52,047   6.4   6.2   48,903   6.0   6.1   63,804   5.8   5.9

Automobile

  391,172   2.4   46.8   382,164   -2.5   47.5   515,892   -1.1   47.9

CALI

  173,328   3.1   20.7   168,126   29.0   20.9   222,601   15.9   20.7

Others

  99,692   4.0   11.9   95,856   1.0   11.9   127,075   -4.8   11.8
                                   

Total

  836,117   3.9   100.0   804,898   -2.6   100.0   1,077,632   -4.0   100.0
                                   

 

  (Note 1) The figures as of/for the nine months ended December 31, 2005 and the figures as of/for the year ended March 31, 2006 are the total amount and related indices of Tokio Marine & Nichido and Nichido Fire before the merger.


Table of Contents

<Reference>

Non-consolidated results of Nisshin Fire

Direct premiums written (including funds for deposit-type insurance)

(Yen in millions, %)

 

    Nine months ended December 31, 2006   Nine months ended December 31, 2005   (Reference) Year ended March 31, 2006
    (From April 1, 2006 to December 31, 2006)   (From April 1, 2005 to December 31, 2005)   (From April 1, 2005 to March 31, 2006)
    Premiums   Increase/
decrease
  Composition   Premiums   Increase/
decrease
  Composition   Premiums   Increase/
decrease
  Composition

Fire

  24,002   -1.1   19.1   24,274   3.1   19.2   31,832   2.0   19.4

Marine

  722   6.2   0.6   680   -5.5   0.5   897   -5.4   0.5

Personal accident

  15,679   -7.9   12.5   17,025   -9.1   13.5   21,448   -8.7   13.1

Automobile

  57,860   0.4   46.0   57,645   -1.6   45.6   76,433   -1.3   46.5

Compulsory automobile liability (CALI)

  19,171   2.2   15.3   18,757   -3.7   14.8   23,527   -3.2   14.3

Others

  8,272   3.3   6.6   8,010   -10.0   6.3   10,183   -7.5   6.2
                                   

Total

  125,708   -0.5   100.0   126,393   -2.8   100.0   164,322   -2.4   100.0
                                   

Fund for deposit-type insurance

  9,234   -15.5   7.3   10,928   -16.3   8.6   13,599   -16.6   8.3
                                   

Net premiums written

(Yen in millions, %)

 

    Nine months ended December 31, 2006
(From April 1, 2006 to December 31, 2006)
  Nine months ended December 31, 2005
(From April 1, 2005 to December 31, 2005)
 

(Reference) Year ended March 31, 2006

(From April 1, 2005 to March 31, 2006)

    Premiums   Increase/
decrease
  Composition   Premiums   Increase/
decrease
  Composition   Premiums   Increase/
decrease
  Composition

Fire

  18,961   5.1   17.2   18,047   5.7   16.6   24,689   8.8   17.1

Marine

  748   3.0   0.7   726   -4.8   0.7   1,004   -4.1   0.7

Personal accident

  8,507   0.3   7.7   8,480   -2.9   7.8   10,931   -2.7   7.6

Automobile

  57,512   0.4   52.2   57,297   -1.7   52.6   76,015   -1.3   52.6

CALI

  16,820   -0.7   15.3   16,937   -1.2   15.5   22,320   -0.9   15.4

Others

  7,706   2.6   7.0   7,510   -11.7   6.9   9,658   -8.0   6.7
                                   

Total

  110,256   1.2   100.0   108,999   -1.3   100.0   144,620   -0.2   100.0
                                   

Net claims paid

(Yen in millions, %)

 

    Nine months ended December 31, 2006
(From April 1, 2006 to December 31, 2006)
  Nine months ended December 31, 2005
(From April 1, 2005 to December 31, 2005)
 

(Reference) Year ended March 31, 2006

(From April 1, 2005 to March 31, 2006)

    Premiums   Increase/
decrease
  Composition   Premiums   Increase/
decrease
  Composition   Premiums   Increase/
decrease
  Composition

Fire

  10,118   46.5   16.3   6,908   -54.0   12.1   100,068   -39.7   12.9

Marine

  321   -18.6   0.5   394   5.6   0.7   562   14.5   0.7

Personal accident

  3,509   5.5   5.6   3,324   2.1   5.8   4,344   -3.9   5.6

Automobile

  33,053   2.8   53.2   32,165   -3.2   56.3   44,125   -0.1   56.5

CALI

  11,242   4.9   18.1   10,712   17.9   18.8   14,207   16.0   18.2

Others

  3,868   7.3   6.2   3,604   -27.8   6.3   4,818   -24.6   6.2
                                   

Total

  62,113   8.8   100.0   57,109   -13.4   100.0   78,126   -7.6   100.0
                                   

 

  (Note 1) Nisshin Fire was included as a consolidated subsidiary of Millea Holdings, Inc. as of September 30, 2006. However, note that the figures shown above are non-consolidated business results of Nisshin Fire for the nine months ended December 31, 2006.


Table of Contents

<Reference>

The sum of Tokio Marine & Nichido and Nisshin Fire

Direct premiums written (including funds for deposit-type insurance)

(Yen in millions, %)

 

    Nine months ended December 31, 2006
(From April 1, 2006 to December 31, 2006)
  Nine months ended December 31, 2005
(From April 1, 2005 to December 31, 2005)
 

(Reference) Year ended March 31, 2006

(From April 1, 2005 to March 31, 2006)

    Premiums   Increase/
decrease
  Composition   Premiums   Increase/
decrease
  Composition   Premiums   Increase/
decrease
  Composition

Fire

  282,851   0.9   15.8   280,230   5.3   16.0   384,186   3.1   16.6

Marine

  59,942   10.7   3.4   54,159   6.2   3.1   74,522   7.5   3.2

Personal accident

  273,024   -3.4   15.3   282,620   2.1   16.1   347,796   -0.3   15.0

Automobile

  724,841   1.9   40.5   711,409   -0.3   40.5   940,775   0.0   40.7

Compulsory automobile liability (CALI)

  250,475   0.9   14.0   248,285   -4.2   14.1   315,710   -3.5   13.7

Others

  197,994   11.0   11.1   178,384   -2.7   10.2   248,317   -1.6   10.7
                                   

Total

  1,789,131   1.9   100.0   1,755,089   0.3   100.0   2,311,309   0.0   100.0
                                   

Fund for deposit-type insurance

  182,028   -7.3   10.2   196,346   4.0   11.2   238,689   -1.8   10.3
                                   

Net premiums written

(Yen in millions, %)

 

    Nine months ended December 31, 2006
(From April 1, 2006 to December 31, 2006)
  Nine months ended December 31, 2005
(From April 1, 2005 to December 31, 2005)
 

(Reference) Year ended March 31, 2006

(From April 1, 2005 to March 31, 2006)

    Premiums   Increase/
decrease
  Composition   Premiums   Increase/
decrease
  Composition   Premiums   Increase/
decrease
  Composition

Fire

  203,474   2.1   13.1   199,287   3.8   13.1   279,889   4.3   13.7

Marine

  55,150   8.4   3.6   50,884   5.6   3.4   70,991   7.5   3.5

Personal accident

  127,283   2.3   8.2   124,409   -0.9   8.2   160,646   -0.1   7.9

Automobile

  720,288   1.9   46.5   706,982   0.1   46.5   934,295   0.4   45.9

CALI

  254,273   -1.3   16.4   257,681   -3.8   17.0   338,821   -3.6   16.6

Others

  188,337   4.9   12.2   179,587   -1.0   11.8   252,729   0.8   12.4
                                   

Total

  1,548,808   2.0   100.0   1,518,833   -0.2   100.0   2,037,374   0.4   100.0
                                   

Net claims paid

(Yen in millions, %)

 

    Nine months ended December 31, 2006
(From April 1, 2006 to December 31, 2006)
  Nine months ended December 31, 2005
(From April 1, 2005 to December 31, 2005)
 

(Reference) Year ended March 31, 2006

(From April 1, 2005 to March 31, 2006)

    Premiums   Increase/
decrease
  Composition   Premiums   Increase/
decrease
  Composition   Premiums   Increase/
decrease
  Composition

Fire

  101,134   12.1   11.3   90,239   -42.6   10.5   120,957   -38.9   10.5

Marine

  29,182   8.4   3.2   26,911   24.0   3.1   37,930   9.8   3.3

Personal accident

  55,556   6.4   6.2   52,228   5.7   6.1   68,149   5.2   5.9

Automobile

  424,225   2.4   47.2   414,330   -2.5   48.1   560,018   -1.0   48.5

CALI

  184,571   3.2   20.5   178,838   28.3   20.7   236,809   15.9   20.5

Others

  103,560   4.1   11.5   99,460   -0.4   11.5   131,894   -5.7   11.4
                                   

Total

  898,230   4.2   100.0   862,007   -3.4   100.0   1,155,758   -4.3   100.0
                                   


Table of Contents

<Reference>

Tokio Marine & Nichido Life

Policies in force

Numbers of policies

(Yen in millions except number of policies, %)

 

     As of December 31, 2006    As of December 31, 2005    (Reference) As of March 31, 2006
          Increase/decrease          

Individual insurance

   1,958,333    12.5    1,740,250    1,820,891

Medical and cancer

   812,960    18.0    689,024    735,275

Individual annuities

   243,929    3.9    234,733    237,336

Total

   2,202,262    11.5    1,974,983    2,058,227

Policy amount in force

 

     As of December 31, 2006    As of December 31, 2005    (Reference) As of March 31, 2006
          Increase/decrease          

Individual insurance

   12,527,619    10.1    11,375,731    11,772,941

Individual annuities

   965,957    3.7    931,877    941,255

Group insurance

   3,306,004    -0.7    3,328,999    3,326,214

Group annuities

   9,551    -13.3    11,020    10,847

Annualized premiums

 

     As of December 31, 2006    As of December 31, 2005    (Reference) As of March 31, 2006
          Increase/decrease          

Individual insurance

   241,323    15.4    209,058    216,380

Medical coverage and accelerated death benefits

   59,504    12.1    53,086    56,288

Medical and cancer

   42,295    21.2    34,885    38,334

Individual annuities

   75,579    3.5    73,029    73,668

Total

   316,902    12.3    282,088    290,049

 

New policies

Numbers of policies

(Yen in millions except number of policies, %)

 

     For the nine months ended
December 31, 2006
   For the nine months ended
December 31, 2005
   (Reference) For the year ended
March 31, 2006 (From
April 1, 2005 to March 31, 2006)
          Increase/decrease          

Individual insurance

   220,996    -1.7    224,905    331,599

Medical and cancer

   113,985    -5.5    120,616    176,884

Individual annuities

   13,566    -46.7    25,459    30,498

Total

   234,562    -6.3    250,364    362,097

Policy amount in force

 

     For the nine months ended
December 31, 2006
   For the nine months ended
December 31, 2005
   (Reference) For the year ended
March 31, 2006 (From
April 1, 2005 to March 31, 2006)
          Increase/decrease          

Individual insurance

   1,416,961    6.7    1,328,066    1,936,525

Individual annuities

   56,205    -46.9    105,880    125,964

Group insurance

   24,029    -57.8    56,991    93,718

Group annuities

   —      —      —      —  

Annualized premiums

(Yen in millions except number of policies, %)

 

     For the nine months ended
December 31, 2006
   For the nine months ended
December 31, 2005
   (Reference) For the year ended
March 31, 2006 (From
April 1, 2005 to March 31, 2006)
          Increase/decrease          

Individual insurance

   37,402    60.4    23,322    34,600

Medical coverage and accelerated death benefits

   6,458    -31.9    9,485    13,537

Medical and cancer

   6,253    -32.0    9,194    13,143

Individual annuities

   4,544    -52.2    9,507    11,079

Total

   41,947    27.8    32,830    45,680

 

Premiums written and claims paid

(Yen in millions, %)

 

     For the nine months ended
December 31, 2006
   For the nine months ended
December 31, 2005
   (Reference) For the year ended
March 31, 2006 (From
April 1, 2005 to March 31, 2006)
          Increase/decrease          

Premiums written

   287,802    4.6    275,267    377,591

Claims paid

   93,470    29.3    72,301    102,720

 

  (Note 1) Since medical and cancer insurance products sold by Tokio Marine & Nichido Life do not have death coverage, they are not included in policy amount in force.
  (Note 2) Annualized premiums are the premiums divided by the duration of insurance policies to show the amount of premiums per year.
  (Note 3) “Medical and cancer” represents a total of medical and cancer insurance which was formerly presented as “third sector”. Annualized premiums include special clauses attached to those insurance products.
  (Note 4) “Medical coverage and accelerated death benefits” include coverage for medical expense (hospitalization and operation), accelerated death benefits (specific diseases and nursing care) and exemption of obligation to pay insurance premium (excluding those caused by disability but including those caused by specific diseases and nursing care). These include coverage by special clauses attached to insurance products other than medical and cancer insurance.

 


Table of Contents

<Reference>

Tokio Marine & Nichido Financial Life

Policies in force

Numbers of policies

(Yen in millions except number of policies, %)

 

     As of December 31, 2006    As of December 31, 2005    (Reference) As of March 31, 2006
          Increase/decrease          

Individual insurance

   43,338    -3.6    44,935    44,499

Individual annuities

   226,521    275.6    60,307    87,857

Total

   269,859    156.4    105,242    132,356

Policy amount in force

 

           
     As of December 31, 2006    As of December 31, 2005    (Reference) As of March 31, 2006
          Increase/decrease          

Individual insurance

   360,468    -3.9    375,112    371,965

Individual annuities

   1,517,007    206.5    494,867    683,202

Group insurance

   —      —      —      —  

Group annuities

   —      —      —      —  

Annualized premiums

           
     As of December 31, 2006    As of December 31, 2005    (Reference) As of March 31, 2006
          Increase/decrease          

Individual insurance

   5,079    -1.1    5,135    5,101

Individual annuities

   139,267    257.3    38,979    57,474

Total

   144,346    227.2    44,114    62,575

New policies

 

Numbers of policies

 

 

   (Yen in millions except number of policies, %)

 

     For the nine months ended
December 31, 2006
   For the nine months ended
December 31, 2005
   (Reference) For the year ended
March 31, 2006
(From April 1, 2005 to March 31, 2006)
          Increase/decrease          

Individual insurance

   343    75.9    195    317

Individual annuities

   140,566    282.4    36,760    64,822

Total

   140,909    281.3    36,955    65,139

Policy amount in force

 

           
     For the nine months ended
December 31, 2006
   For the nine months ended
December 31, 2005
   (Reference) For the year ended
March 31, 2006
(From April 1, 2005 to March 31, 2006)
          Increase/decrease          

Individual insurance

   3,222    95.2    1,650    2,536

Individual annuities

   822,362    229.9    249,248    434,702

Group insurance

   —      —      —      —  

Group annuities

   —      —      —      —  

 

Annualized premiums

 

           
     For the nine months ended
December 31, 2006
   For the nine months ended
December 31, 2005
   (Reference) For the year ended
March 31, 2006
(From April 1, 2005 to March 31, 2006)
          Increase/decrease          

Individual insurance

   238    207.4    77    136

Individual annuities

   81,794    234.9    24,424    42,736

Total

   82,033    234.8    24,502    42,872

 

Premiums written and claims paid

 

      (Yen in millions, %)

 

     For the nine months ended
December 31, 2006
   For the nine months ended
December 31, 2005
   (Reference) For the year ended
March 31, 2006
(From April 1, 2005 to March 31, 2006)
          Increase/decrease          

Premiums written

   843,112    210.2    271,823    466,072

Claims paid

   23,658    85.0    12,788    18,824

 

  (Note 1) Annualized premiums are the premiums divided by the duration of insurance policies to show the amount of premiums per year.


Table of Contents

Item 3

(English translation)

February 9, 2007

Millea Holdings, Inc.

President: Kunio Ishihara

TSE code number: 8766

Notice concerning a secondary domestic offering of shares

Millea Holdings, Inc. (the “Company”) announced that on February 9, 2007 its board of directors resolved as detailed below in connection with a secondary offering in Japan only of its shares.

1. Number of shares to be sold:

16,161,600 shares of the Company’s common stock

2. Selling shareholder:

Japan Trustee Services Bank, Ltd. (Trust account in favor of Banks’ Shareholdings Purchase Corporation held in The Sumitomo Trust & Banking Co., Ltd.)

3. Offer period:

Expected to be the period from the business day immediately following the offer price determination date, which date is expected to be a date between February 21, 2007 (inclusive) and February 26, 2007 (inclusive), through the third business day following such date.

(Reference)

Purpose of the offering:

By selling shares mainly focused on individual investors, the Company aims to increase individual shareholdings of its common stock.

For further information, please contact:

Toshihiko Aizawa

Group Leader

Corporate Communications and Investor Relations Group

Corporate Planning Dept.

Phone: 03-6212-3422

 


Note: The purpose of this press release is to make a general public statement of the sale of shares of the Company’s common stock outside of the United States and certain other matters. It has not been prepared for the purpose of soliciting investment in such common stock. The securities offered will not be or have not been registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements under the Securities Act.


Table of Contents

Item 4

(English translation)

 

 

  February 9, 2007
 

Millea Holdings, Inc.

2-1 Marunouchi 1-chome, Chiyoda-ku, Tokyo

TSE code number: 8766

  

Announcement regarding share repurchases from the market

(Acquisition by the Company of its own shares pursuant to the provision of its Articles of

Incorporation in accordance with Article 165, paragraph 2 of the Corporation Law.)

Millea Holdings, Inc. (the “Company”) announced that on February 9, 2007 its board of directors resolved repurchases of its own shares, pursuant to Article 156 which is applicable in accordance with Article 165, paragraph 3 of the Corporation Law, as detailed below.

1. Reason for the repurchase of shares

The Company intends to repurchase its own shares in order to implement flexible financial policies.

2. Details of the resolution

(a) Class of shares to be repurchased:

Common stock of the Company.

(b) Aggregate number of shares to be repurchased:

Up to 10,000,000 shares.

(Represents approximately 1.2% of total issued shares.)

(c) Aggregate purchase price of shares:

Up to 41.4 billion yen.

(d) Period in which repurchases may be made:

From February 14, 2007 through February 19, 2007.

 

For further information, please contact:

Kazuyuki Nakano

Manager

Corporate Communications and Investor Relations Group

Corporate Planning Dept.

Millea Holdings, Inc.

Phone: 03-5223-3213