Sompo Holdings Inc (OTCPK:SMPNY)
$ 13.09 -0.005 (-0.04%) Market Cap: 25.22 Bil Enterprise Value: 22.21 Bil PE Ratio: 6.97 PB Ratio: 1.35 GF Score: 81/100
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Full Year 2019 Sompo Holdings Inc Earnings Call Transcript

May 20, 2019 / 07:00AM GMT
Osamu Nose
Sompo Holdings, Inc. - Head of IR and Finance Department

Hello. I am Osamu Nose, Head of Investor Relations in the finance department at Sompo Holdings. Thank you for participating in our conference call today.

I would like to go through our business results for fiscal year 2018 and our business forecast for fiscal 2019 focused on numerical data. In our presentation for analysts scheduled to be held next week, Sompo Holdings management team, including the CEO, will discuss the company's management strategy for the second half of the current midterm management plan.

Let's now turn to Page 2. This is highlights for fiscal year 2018 results. Following on from fiscal year 2017, the frequent occurrence of natural disasters around the world in fiscal year 2018 weighed on domestic P&C business and overseas insurance business. On the other hand, at Sompo Japan Nipponkoa, the hit to earnings from natural disasters was offset by the planned annual reduction of JPY 100 billion in strategic holding stocks plus the additional reduction of JPY 58 billion. As a result, consolidated

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