Dai-ichi Life Insurance Co. said Monday it will book ¥179.6 billion in evaluation losses in fiscal 2010 on its securities holdings whose value took a beating from the March 11 disaster.
As the insurer has a stake of some 4 percent in Tokyo Electric Power Co., the loss is estimated to include some ¥100 billion stemming from the Tepco share price dive following a string of setbacks at the utility’s Fukushima No. 1 plant after the disaster.
Among financial institutions with equity stakes in the utility, the insurer is booking one of the largest evaluation losses related to Tepco shareholdings.
The insurer said the evaluation losses and other factors led it to revise its consolidated net profit projection for the year to March to ¥19 billion from the earlier estimate of ¥50 billion. But the insurer kept its full-year dividend forecast for fiscal 2010 unchanged at ¥1,600 per share.
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