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 2020 Sompo Holdings Inc Earnings Call Transcript

May 20, 2020 / 09:00AM GMT
Release Date Price: $4.64
Osamu Nose
Sompo Holdings, Inc. - Head of IR and Finance Department

Ladies and gentlemen, I am Nose, Head of IR. Thank you for calling in today in spite of a busy schedule.

I'd like to explain the results of FY 2019 and the business forecast for FY 2020, focusing on numbers. With regards to the progress of the medium-term management plan, the senior management, including CEO, will explain to the analysts in the web session scheduled next week.

Now please turn to Page 2, here are the highlights of the results. In FY 2019, we were under the pressure from lower gain on sale of securities due to the rebound from accelerating reduction of strategic holding stocks in FY 2018 and the impairment losses on securities and so on. We offset these downward pressures by the improvement of the base loss ratio of Sompo Japan and organic growth, mainly driven by overseas. As a result, consolidating ordinary profit was JPY 192.4 billion, down JPY 6.5 billion. Consolidated net income was JPY 122.5 billion, up from the projection we have shown you in November last year.

For FY 2020, we have

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