Tokio Marine Reports 17% Drop In Net Profit, Lowers Forecast

Tokio Marine Holdings Inc TKOMY reported a 17% decline in its net profit for the first fiscal half ended September 30. Tokio Marine reported a group net profit at Y79.07 billion, versus Y95.24 billion, in the year-ago period. Its net premium revenue fell to Y1.196 triillion, from Y1.175 trillion. For the current fiscal year ending March 31, Tokio Marine cut its group net profit forecast to Y90 billion, versus Y140 billion. Tokio Marine shares closed at $23.60 yesterday.