This document has been translated from the Japanese original solely for reference purposes, and the Japanese original shall prevail if any discrepancy is identified.
SUMMARY OF FINANCIAL STATEMENTS
FOR THE SIX MONTHS ENDED SEPTEMBER 30, 2021
November 19, 2021 | |
Name of Listed Company: | MS&AD Insurance Group Holdings, Inc. |
Stock Exchange Listing: | Tokyo Stock Exchange and Nagoya Stock Exchange |
Securities Code Number: | 8725 |
URL: | https://www.ms-ad-hd.com |
Representative: | Noriyuki Hara, President & CEO |
Contact: | Masaru Kenma, Manager, Consolidated Accounting Section, Accounting Department |
Telephone: 03-5117-0305 |
Scheduled date to file the Quarterly Securities Report: | November 19, 2021 |
Scheduled date to commence dividend payments: | December 6, 2021 |
Explanatory material for business results: | Available |
IR Conference (for institutional investors and analysts): | To be held |
(Note) Amounts of less than one million yen are truncated. |
1. Consolidated Financial Highlights for the Six Months Ended September 30, 2021 (April 1, 2021 to September 30, 2021)
(1) Consolidated business performance
Ordinary income | Ordinary profit | Net income attributable to owners |
of the parent | ||
Six months ended September 30, 2021 Six months ended September 30, 2020
2,551,183 | (6.7) | % | 182,187 | 57.7 | % | 124,824 | 29.2 % |
2,734,493 | (4.3) | % | 115,509 | 6.7 | % | 96,630 | (40.9) % |
Percent figures represent changes from the corresponding period of the preceding year.
(Note) Comprehensive income | For the six months ended September 30, 2021: | ¥ | 298,949 | million | (11.4) | % | |
For the six months ended September 30, 2020: | ¥ | 337,336 | million | 44.5 | % | ||
(Yen) | |||||||
Net income attributable to owners | Net income attributable to owners | ||||||
of the parent per share | of the parent per share | ||||||
- Basic | - Diluted |
Six months ended | 224.26 |
September 30, 2021 | |
Six months ended | 170.67 |
September 30, 2020 | |
(2) Consolidated financial conditions
Total assets | |
September 30, 2021 | 24,714,404 |
March 31, 2021 | 24,142,562 |
(Reference) Net assets less non-controlling interests
2. Dividends
224.16
170.57
(Yen in millions) | |||
Net assets | Ratio of net assets less non- | ||
controlling interests to total assets | |||
3,365,216 | 13.4 | % | |
3,126,657 | 12.8 | % | |
As of March 31, 2021: | ¥ 3,084,349 | million | |
(Yen) | |||
Dividends per share |
1st quarter | 2nd quarter | 3rd quarter | 4th quarter | Annual total | |
Year ended March 31, 2021 | - | 75.00 | - | 80.00 | 155.00 |
Year ending March 31, 2022 | - | 82.50 | |||
Year ending March 31, 2022 | - | 82.50 | 165.00 | ||
(Forecast) | |||||
(Note) Revision of the latest announced dividends per share forecast: Yes
3. Consolidated Earnings Forecasts for the Year Ending March 31, 2022 (April 1, 2021 to March 31, 2022)
(Yen in millions) | |||||
Ordinary profit | Net income attributable to owners | Net income attributable to owners | |||
of the parent | of the parent per share (Yen) | ||||
Year ending March 31, 2022 | 330,000 | 7.7 % | 230,000 | 59.3 % | 414.15 |
Percent figures represent changes from the preceding year.
(Note) Revision of the latest announced earnings forecasts: None
* Notes
- Changes in significant subsidiaries for the period (changes in specified subsidiaries resulting in changes in scope of consolidation): None
- Changes in accounting policies and accounting estimates and restatements
- Changes in accounting policies due to revisions of accounting standards: Yes
- Changes in accounting policies other than above: None
- Changes in accounting estimates: None
- Restatements: None
(Note) For details, please refer to "Changes in Accounting Policies" on page 7 of the Appendix.
- Number of shares of issued stock (common stock)
1. Number of shares of issued stock (including treasury stock)
As of September 30, 2021: | 593,632,891 shares | |
As of March 31, 2021: | 593,473,207 shares | |
2. | Number of shares of treasury stock | |
As of September 30, 2021: | 39,544,927 shares | |
As of March 31, 2021: | 35,263,101 shares | |
3. | Average number of shares of outstanding stock | |
For the six months ended September 30, 2021: | 556,603,085 shares | |
For the six months ended September 30, 2020: | 566,167,247 shares |
- This report is unaudited.
- Notes to the earnings forecasts and others
- Any earnings forecasts in this report have been made based on the information available to the Company as of the disclosure date of the report and certain assumptions, and therefore do not guarantee future performance. Actual results may differ substantially from these forecasts depending on various factors. For key assumptions of the earnings forecasts and other relevant information, please refer to "4. Earnings Forecasts" on page 15 of "Explanatory Material for Business Results for the Six Months Ended September 30, 2021". The forecast of consolidated ordinary income for the current fiscal year is not disclosed due to difficulties in calculating reasonable forecast figures stemming from a high susceptibility to natural disasters and market conditions.
- The Company made its interim consolidated financial statements for the first half of the fiscal year, as required for specified companies which operate the businesses defined in the Article 17-15 Paragraph 2 of the Cabinet Office Ordinance on Disclosure of Corporate Information, etc.
[Appendix]
Contents
Page | ||
Consolidated Financial Statements and Main Notes | ||
1. | Consolidated Balance Sheets ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ | 2 |
2. | Consolidated Statements of Income and Comprehensive Income ・・・・・・・・・・・・・・・・・・・・・・・ | 3 |
3. | Consolidated Statements of Changes in Net Assets ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ | 5 |
4. | Notes to Consolidated Financial Statements ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ | 7 |
(Notes to Going Concern Assumptions) ・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ | 7 |
[Attachment]
Explanatory Material for Business Results for the Six Months Ended September 30, 2021
1
Consolidated Financial Statements and Main Notes
1. Consolidated Balance Sheets
(Yen in millions) | ||
March 31, 2021 | September 30, 2021 | |
Assets | ||
Cash, deposits and savings | 2,057,789 | 2,202,075 |
Receivables under resale agreements | 1,999 | 1,999 |
Monetary claims bought | 175,740 | 142,335 |
Money trusts | 1,717,804 | 1,823,562 |
Investments in securities | 16,793,584 | 17,002,406 |
Loans | 960,174 | 945,585 |
Tangible fixed assets | 494,818 | 489,509 |
Intangible fixed assets | 431,929 | 442,979 |
Other assets | 1,436,401 | 1,585,572 |
Assets for retirement benefits | 26,768 | 28,709 |
Deferred tax assets | 30,549 | 33,679 |
Customers' liabilities under acceptances and guarantees | 28,500 | 27,000 |
Bad debt reserve | (13,498) | (11,010) |
Total assets | 24,142,562 | 24,714,404 |
Liabilities | ||
Policy liabilities: | 18,107,028 | 18,425,229 |
Outstanding claims | 2,256,900 | 2,375,345 |
Underwriting reserves | 15,850,128 | 16,049,884 |
Bonds issued | 809,093 | 809,093 |
Other liabilities | 1,602,349 | 1,577,044 |
Liabilities for pension and retirement benefits | 160,828 | 151,776 |
Reserve for retirement benefits for officers | 241 | 204 |
Accrued bonuses for employees | 28,256 | 25,057 |
Reserves under the special laws: | 244,975 | 248,556 |
Reserve for price fluctuation | 244,975 | 248,556 |
Deferred tax liabilities | 34,630 | 85,226 |
Acceptances and guarantees | 28,500 | 27,000 |
Total liabilities | 21,015,905 | 21,349,188 |
Net assets | ||
Shareholders' equity: | ||
Common stock | 100,276 | 100,534 |
Capital surplus | 553,428 | 553,680 |
Retained earnings | 1,078,850 | 1,159,017 |
Treasury stock | (119,267) | (134,025) |
Total shareholders' equity | 1,613,287 | 1,679,207 |
Accumulated other comprehensive income: | ||
Net unrealized gains/(losses) on investments in securities | 1,630,325 | 1,723,311 |
Net deferred gains/(losses) on hedges | 14,997 | 10,736 |
Foreign currency translation adjustments | (178,080) | (94,535) |
Accumulated actuarial gains/(losses) on retirement benefits | 3,819 | 2,976 |
Total accumulated other comprehensive income | 1,471,062 | 1,642,489 |
Stock acquisition rights | 1,019 | 762 |
Non-controlling interests | 41,288 | 42,756 |
Total net assets | 3,126,657 | 3,365,216 |
Total liabilities and net assets | 24,142,562 | 24,714,404 |
2
2. Consolidated Statements of Income and Comprehensive Income (Consolidated Statements of Income)
(Yen in millions) | ||
Six months ended | Six months ended | |
September 30, 2020 | September 30, 2021 | |
Ordinary income: | 2,734,493 | 2,551,183 |
Underwriting income: | 1,994,440 | 2,244,643 |
Net premiums written | 1,869,016 | 1,928,514 |
Deposit premiums from policyholders | 44,755 | 27,995 |
Investment income on deposit premiums from policyholders | 19,151 | 17,390 |
Life insurance premiums | 56,606 | 265,079 |
Investment income: | 731,980 | 288,673 |
Interest and dividends income | 150,745 | 153,448 |
Investment gains on money trusts | 133,615 | 27,423 |
Investment gains on trading securities | 22,687 | 10,511 |
Gains on sales of securities | 79,874 | 61,056 |
Investment gains on separate accounts | 148,417 | 48,550 |
Transfer of investment income on deposit premiums from policyholders | (19,151) | (17,390) |
Other ordinary income | 8,072 | 17,865 |
Ordinary expenses: | 2,618,984 | 2,368,995 |
Underwriting expenses: | 2,210,470 | 1,948,136 |
Net claims paid | 908,031 | 941,688 |
Loss adjustment expenses | 92,166 | 96,765 |
Commissions and collection expenses | 365,045 | 372,817 |
Maturity refunds to policyholders | 112,708 | 82,696 |
Life insurance claims | 157,647 | 227,618 |
Provision for outstanding claims | 80,305 | 53,097 |
Provision for underwriting reserves | 479,925 | 171,634 |
Investment expenses: | 60,276 | 71,192 |
Investment losses on money trusts | 20,263 | 1,815 |
Losses on sales of securities | 4,441 | 3,185 |
Impairment losses on securities | 7,928 | 23,824 |
Losses on derivative transactions | 26,116 | 17,802 |
Operating expenses and general and administrative expenses | 330,627 | 337,820 |
Other ordinary expenses: | 17,609 | 11,846 |
Interest expense | 7,242 | 7,838 |
Ordinary profit | 115,509 | 182,187 |
Extraordinary income: | 8,570 | 990 |
Gains on sales of fixed assets | 456 | 990 |
Reversal of reserve for losses on sales of shares of subsidiaries and associates | 8,113 | - |
Extraordinary losses: | 11,382 | 7,418 |
Losses on sales of fixed assets | 2,763 | 2,404 |
Impairment losses on fixed assets | 1,587 | 1,434 |
Provision for reserves under the special laws: | 5,830 | 3,580 |
Provision for reserve for price fluctuation | 5,830 | 3,580 |
Losses on change in equity | 1,200 | - |
Income before income taxes | 112,697 | 175,759 |
Income taxes - current | 50,241 | 35,718 |
Income taxes - deferred | (36,146) | 13,354 |
Total income taxes | 14,095 | 49,073 |
Net income | 98,602 | 126,685 |
Net income attributable to non-controlling interests | 1,971 | 1,861 |
Net income attributable to owners of the parent | 96,630 | 124,824 |
3 |
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
MS&AD Insurance Group Holdings Inc. published this content on 19 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 November 2021 04:52:03 UTC.