- 恒大地产
According to informed sources disclosed the situation, the three companies will be the earliest in the second half of 2009 the completion of the merger, with a recent trading day's closing prices, the three company's current total market value of up to ¥ 1,780,000,000,000 (about 20 billion U.S. dollars ). As a result of the talks still failed to achieve any consistency in the resolution, so the two sources have refused to disclose the identity. As a result of the global crisis financial shocks, the three insurance companies in the first half of fiscal 2008 results are very depressed, in order to maintain operation, the three companies were required to substantially reduce operating costs. In 2008 as a result of Japan's domestic automobile sales record since 1974, the lowest level, Mitsui Sumitomo Insurance premiums accounted for 55 percent of the proceeds sharp decline in motor vehicle insurance, which eventually led to the company's operations difficult. Jujiya Securities in Tokyo the company's strategic analyst Masayoshi Okamoto, said: "by the growing phenomenon of aging, declining birth rate, car sales fell sharply, such as a series of negative factors, the Japanese insurance industry operating environment is deteriorating."
Subject to the impact of the merger rumors, the three parties of a company's share price this week, the Japanese market transactions showed up in varying degrees, as of noon closing, Mitsui Sumitomo Insurance rose 6.8 percent to ¥ 2845 per share; on Health with and damage insurance and love and friendship insurance rose as high as 14% and 17% respectively. In addition, the three companies will also have a direct acquisition rumors pull the Japanese insurance industry stock market, a tracking statistics nine insurance companies in Japan's stock price index in early trading this week rose 3.8 percent, or in the Topix index of 33 industries ranked the second. AMP Capital Management, senior investment analyst Nader Naeimi said: "In the current market circumstances, the emergence of any acquisition rumors are conducive to enhancing market confidence. Such a situation means that companies have been increasing awareness of the current the market value of investments, and is willing to take advantage of low-cost opportunity to achieve the expansion. "At present, Mitsui Sumitomo Insurance, love and friendship Health insurance and the same day and the press spokesman for the three companies have refused to comment on rumors publishe.
In accordance with current market prices, the combined new company will replace the Tokio Marine & Nichido Fire Insurance Company, to become Japan's largest non-life insurance group. In July this year, Tokio Marine & Nichido just 4.7 billion U.S. dollars to the price of the acquisition of U.S. insurer Philadelphia Consolidated. According to previously published three companies reported Choi, Mitsui Sumitomo Insurance, love and friendship, the Japanese Health and ended with the March 31, 2008 fiscal year of the Chinese Communist realized ¥ 2,730,000,000,000 earnings, more than Tokio Marine & Nichido 2.25 trillion yen. Komatsu Assets Investment CEO Toru Komatsu said: "In order to effectively cut the cost of maintaining the operation, the search for the three companies combined is the only way to protect themselves. Because of the prevailing circumstances, the three companies are medium-sized insurance company, so you want to develop the overseas market through a new source of profits will be very difficult. "
According to the Japanese Insurance Association (General Insurance Association of Japan) statistical data, as of March 31, 2008, auto insurance business accounted for Japan's total non-life insurance business by 55%. Mitsui Sumitomo Insurance Company, according to previously published results, ended September 30 this year, within six months, the company's auto insurance income fell by at least 3.4 percent year-on-year. Japan Automobile Manufacturers Association (Japan Automobile Manufacturers Association) in December 18 this year, said that in 2008 Japan's domestic car sales expected to decline 4.5 percent year-on-year to 5,110,000 units, while in 1990 from 7.78 million units annual sales record even more have fallen sharply, and the other, the association also predicted that in 2009 Japan's domestic auto sales to decline further 4.9 percent.
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