Sompo Holdings net income falls 16.9% despite revenue growth

Sompo Holdings reported net income of 118.593 billion yen for the three months ended June 30, down 16.9% year-over-year, despite insurance revenue rising 1.2% to 1.263 trillion yen.

Net income before tax fell 13.4% to 150.820 billion yen. Total assets decreased slightly to 15.872 trillion yen while total equity increased to 4.356 trillion yen.

The company maintained its full-year net income forecast of 335 billion yen with an expected annual dividend of 150 yen.