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• Corporate Purpose & Sustainability: Tokio Marine's core purpose is to protect customers and society from unexpected crises, a mission it has fulfilled since founding as a marine insurer in 1879. The company defines its employee-centric approach to solving social problems while delivering growth as its unique model of sustainability management, which has helped it grow into a top-tier global insurance group with higher 5-year EPS growth than global peers Allianz, Axa, Chubb, and Zurich.
• Core Basic Strategies:
  1. Global Risk Diversification: The company diversifies risk across geographies, business lines, and product types by combining low-correlation risks (e.g. Japanese typhoon risk and North American hurricane risk) to stabilize underwriting capacity and profit. Over 20 years, cross-border M&A has been used to expand overseas insurance business with low correlation to Japanese natural disaster risk, building a well-diversified business structure.
  2. Disciplined M&A & Integrated Global Group Management: M&A adheres to strict acquisition criteria, prioritizes culture and purpose alignment, and has delivered a 21.2% ROI for past large-scale deals. Acquired talent is deployed globally to improve decision-making quality, and the 10-year-old integrated global group management model continues to evolve, becoming a unique competitive advantage. Annual group synergy profits have reached 10 billion yen, equivalent to the profit that would require a 1.4 trillion yen acquisition to generate.
  3. Next-Generation Talent Development: The Tokio Marine Group Leadership Institute (TLI) was established in April 2023 to train cross-group next-generation leaders and globally competitive talent through customized training programs. The company has approximately 50,000 employees worldwide, with high employee engagement centered around shared purpose, which serves as the foundation for sustained growth.
• Growth Strategy: The company pursues two-wheel growth through "Insurance + Solutions":
  1. Insurance Growth: Tokio Marine holds leading positions in the large US market, stable Japanese market, and high-growth emerging markets. It focuses on high-specialty specialty insurance (e.g. renewable energy, cyber insurance) in North America, a segment less exposed to economic and natural disaster volatility with top-tier market presence. In Japan, specialty insurance has large untapped growth potential due to much lower penetration than Europe and the US, and the company will leverage global group knowhow to capture this growth.
  2. Solutions Growth: The company expands beyond pure insurance into pre-loss risk reduction solutions, starting with disaster prevention and mitigation. Combining proactive prevention with insurance reduces future claims, improves insurance profitability, and allows lower stable premium rates for customers. The private disaster prevention market is expected to grow significantly, and Tokio Marine will leverage its customer touchpoints at the time of claims payment to expand business.

• For the current medium-term management plan running through fiscal 2026: Maintain the target of 8%+ annual average EPS growth (excluding policy share sale gains), with current progress running ahead of target at 10.5% growth. Maintain the target of raising ROE to 14.0% or higher, and aim to close the gap with global peer ROE levels through continued insurance growth and solutions expansion.
• North American insurance business profit is projected to deliver a 10.7% average annual growth rate over the 5 years to fiscal 2026.
• Japanese underwriting profit is projected to grow at over 10% under the current medium-term plan.
• The company will continue its progressive dividend policy, with 2025 fiscal year ordinary dividend planned at 210 yen per share, a 38 yen year-over-year increase marking 14 consecutive years of dividend increases.

1. Insurance Business: Overseas business accounts for over half of the group's total profit. North America specialty insurance is expected to achieve an average annual profit growth rate of 10.7% over the 5 years to fiscal 2026. In Japan, Tokio Marine holds the top domestic position in insurance premium revenue and underwriting profit, with an expected growth rate exceeding 10% under the current medium-term management plan. 2. Solutions Business: The disaster prevention and mitigation solutions vertical is in an early growth stage, with the market expected to expand significantly driven by growing private sector demand; Tokio Marine acquired ID&E Holdings in May 2025 to expand this segment. No explicit absolute segment financials or revenue contribution percentages beyond the 50%+ profit share for overseas insurance business are provided in the transcript.

• Natural disaster damage has become increasingly severe globally (including wildfires in the US and typhoons/hailstorms in Japan), and geopolitical risks are intensifying worldwide, while digitalization has expanded cyber risk, leading to greater operating environment uncertainty and increasingly complex social problems, creating a challenging operating landscape for a risk-taking insurance company.
• The external business environment and social needs are changing faster than ever in the VUCA era, and the company recognizes that if it fails to adapt and evolve, its competitive advantages will erode and growth will slow.
• Global economic volatility can impact performance of general insurance lines, while specialty lines (the company's current focus) are relatively less exposed to this risk.

No formal question and answer section is included in the provided transcript.