MS&AD_en

12/22 　Sales of Strategic Equity Holdings

Please turn to page 11, and I will review the sales of strategic equity holdings. As we have explained earlier, we plan to sell strategic equity holdings of ￥300 billion in the three-year period from FY2011 through FY2013 to reduce the equity holding risk. Adding the amount of equity holdings for the sale of which we have obtained consent from issuing companies, it marks up to 80% of the planned amount. We aim to proceed with it steadily for the goal. Reducing domestic equity holding risk is one of our management priorities. We will continue to steadily reduce our equity holdings from FY2014 onward.