Recovery in major economies boosts Tokio Marine’s results
Tokio Marine Holdings enjoyed an increase in revenues but its net profits fell in the first quarter of its financial year ending June 30, 2017, as it offered a positive outlook on the health of the main economies it operates in.
For three months ended June 30, 2017, it said the US economy steadily recovered, the Chinese economy steadily progressed and the European economies expanded. As a result, the world economy as a whole continued to recover gradually. It also noted that in Japan, the economy gradually improved due to recovery in consumer spending in addition to steady exports and production.
Against this backdrop, the company’s ordinary income (revenues) increase by 1.5 percent to ¥1,399.6 billion compared with the same period a year earlier.
Its underwriting income for the period reached ¥1,178.5 billion and its investment income was ¥193.8 billion.
Its ordinary profit for the period decreased by ¥4.4 billion to ¥123.6 billion compared with the same period in the previous fiscal year. Net income decreased by ¥9.1 billion to ¥88.1 billion from the same period in the previous fiscal year.
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