Sompo Holdings

Live  

Sompo Holdings is a global insurance and risk solutions provider headquartered in Tokyo, Japan. The company offers a wide range of products and services including property and casualty insurance, life insurance, healthcare services, and asset management.
Sompo Holdings was founded in 2010 through a merger of three insurance companies: Nipponkoa Insurance, Sompo Japan Insurance, and Yasuda Fire & Marine Insurance. It has since expanded its presence to over 30 countries and regions, with a strong presence in Asia, Europe, and the Americas.
The company's mission is to contribute to the wellbeing of its customers and society as a whole, while also pursuing sustainable growth and financial stability. It has a strong focus on innovation and digital transformation, leveraging technology to provide efficient and user-friendly insurance services.
Sompo Holdings is committed to corporate social responsibility and has implemented various initiatives to promote environmental sustainability, support local communities, and ensure responsible business practices. It has also been recognized for its diversity and inclusion efforts, actively promoting a diverse and inclusive workplace culture.
Overall, Sompo Holdings is a leading insurance company that is dedicated to serving its customers and making a positive impact in the world.

MS4gTG9uZy BIaXN0b3J5 OiBTb21wby BIb2xkaW5n cyBoYXMgYS BoaXN0b3J5 IGRhdGluZy BiYWNrIHRv IDE4ODgsIG 1ha2luZyBp dCBvbmUgb2 YgdGhlIG9s ZGVzdCBhbm QgbW9zdCBl c3RhYmxpc2 hlZCBpbnN1 cmFuY2UgY2 9tcGFuaWVz IGluIEphcG FuLjxicj4y LiBHbG9iYW wgUHJlc2Vu Y2U6IFRoZS Bjb21wYW55 IGhhcyBhIH N0cm9uZyBn bG9iYWwgcH Jlc2VuY2Us IG9wZXJhdG luZyBpbiBv dmVyIDMwIG NvdW50cmll cyBhbmQgcm VnaW9ucyBh cm91bmQgdG hlIHdvcmxk LCBpbmNsdW RpbmcgQXNp YSwgRXVyb3 BlLCB0aGUg QW1lcmljYX MsIGFuZCB0 aGUgTWlkZG xlIEVhc3Qu PGJyPjMuIE RpdmVyc2Ug UmFuZ2Ugb2 YgUHJvZHVj dHM6IFNvbX BvIEhvbGRp bmdzIG9mZm VycyBhIHdp ZGUgcmFuZ2 Ugb2YgaW5z dXJhbmNlIG FuZCBmaW5h bmNpYWwgcH JvZHVjdHMs IGluY2x1ZG luZyBwcm9w ZXJ0eSBhbm QgY2FzdWFs dHkgaW5zdX JhbmNlLCBs aWZlIGluc3 VyYW5jZSwg aGVhbHRoY2 FyZSwgYW5k IGFzc2V0IG 1hbmFnZW1l bnQgc2Vydm ljZXMuPGJy PjQuIElubm 92YXRpdmUg VGVjaG5vbG 9neTogV2l0 aCBhIGZvY3 VzIG9uIGRp Z2l0YWwgdH JhbnNmb3Jt YXRpb24sIF NvbXBvIEhv bGRpbmdzIG lzIGNvbnRp bnVvdXNseS BpbnZlc3Rp bmcgaW4gaW 5ub3ZhdGl2 ZSB0ZWNobm 9sb2dpZXMg dG8gaW1wcm 92ZSBjdXN0 b21lciBleH BlcmllbmNl IGFuZCBkZX ZlbG9wIG5l dyBwcm9kdW N0cyBhbmQg c2VydmljZX MuPGJyPjUu IFN0cm9uZy BGaW5hbmNp YWwgUGVyZm 9ybWFuY2U6 IFRoZSBjb2 1wYW55IGhh cyBjb25zaX N0ZW50bHkg bWFpbnRhaW 5lZCBzdHJv bmcgZmluYW 5jaWFsIHBl cmZvcm1hbm NlLCB3aXRo IGEgc29saW QgdHJhY2sg cmVjb3JkIG 9mIHByb2Zp dGFiaWxpdH kgYW5kIHN0 YWJpbGl0eS 48YnI+Ni4g Q29tbWl0bW VudCB0byBT dXN0YWluYW JpbGl0eTog U29tcG8gSG 9sZGluZ3Mg aXMgY29tbW l0dGVkIHRv IHN1c3RhaW 5hYmxlIGJ1 c2luZXNzIH ByYWN0aWNl cyBhbmQgaG FzIGltcGxl bWVudGVkIH ZhcmlvdXMg aW5pdGlhdG l2ZXMgdG8g YWRkcmVzcy Bzb2NpYWwg YW5kIGVudm lyb25tZW50 YWwgaXNzdW VzLjxicj43 LiBDb3Jwb3 JhdGUgU29j aWFsIFJlc3 BvbnNpYmls aXR5OiBUaG UgY29tcGFu eSBhY3Rpdm VseSBlbmdh Z2VzIGluIG NvcnBvcmF0 ZSBzb2NpYW wgcmVzcG9u c2liaWxpdH kgZWZmb3J0 cywgaW5jbH VkaW5nIGRp c2FzdGVyIH JlbGllZiBh bmQgY29tbX VuaXR5IGRl dmVsb3BtZW 50IHByb2pl Y3RzLjxicj 44LiBDdXN0 b21lci1DZW 50cmljIEFw cHJvYWNoOi BTb21wbyBI b2xkaW5ncy BwbGFjZXMg YSBzdHJvbm cgZW1waGFz aXMgb24gbW VldGluZyB0 aGUgbmVlZH Mgb2YgdGhl aXIgY3VzdG 9tZXJzLCBv ZmZlcmluZy BjdXN0b21p emVkIHNvbH V0aW9ucyBh bmQgcHJvdm lkaW5nIGhp Z2gtcXVhbG l0eSBzZXJ2 aWNlLjxicj 45LiBTdHJv bmcgUGFydG 5lciBOZXR3 b3JrczogVG hlIGNvbXBh bnkgaGFzIG VzdGFibGlz aGVkIHN0cm 9uZyBwYXJ0 bmVyc2hpcH Mgd2l0aCBs ZWFkaW5nIG 9yZ2FuaXph dGlvbnMgYW 5kIGV4cGVy dHMgaW4gdm FyaW91cyBp bmR1c3RyaW VzIHRvIGVu aGFuY2UgdG hlaXIgcHJv ZHVjdCBvZm ZlcmluZ3Mg YW5kIGV4cG FuZCB0aGVp ciBnbG9iYW wgcmVhY2gu PGJyPjEwLi BUb3AtdGll ciBSYW5raW 5nczogU29t cG8gSG9sZG luZ3MgaGFz IGNvbnNpc3 RlbnRseSBi ZWVuIHJlY2 9nbml6ZWQg YXMgYSB0b3 AtdGllciBp bnN1cmFuY2 UgY29tcGFu eSwgZWFybm luZyBoaWdo IHJhdGluZ3 MgYW5kIGFj Y29sYWRlcy Bmcm9tIHZh cmlvdXMgcm F0aW5nIGFn ZW5jaWVzIG FuZCBpbmR1 c3RyeSBwdW JsaWNhdGlv bnMu

U29tcG8gSG 9sZGluZ3Mg aXMgYSBKYX BhbmVzZSBp bnN1cmFuY2 UgYW5kIGZp bmFuY2lhbC BzZXJ2aWNl cyBjb21wYW 55IHRoYXQg b3BlcmF0ZX Mgb24gYSBn bG9iYWwgc2 NhbGUuIEl0 cyBidXNpbm VzcyBtb2Rl bCBmb2N1c2 VzIG9uIHBy b3ZpZGluZy BhIHdpZGUg cmFuZ2Ugb2 YgaW5zdXJh bmNlIGFuZC BmaW5hbmNp YWwgcHJvZH VjdHMgYW5k IHNlcnZpY2 VzIHRvIGlu ZGl2aWR1YW xzLCBidXNp bmVzc2VzLC BhbmQgb3Jn YW5pemF0aW 9ucy48YnI+ VGhlIGNvbX BhbnkncyBt YWluIGJ1c2 luZXNzIHNl Z21lbnRzIG luY2x1ZGU6 PGJyPjEuIE RvbWVzdGlj IFByb3Blcn R5IGFuZCBD YXN1YWx0eS BJbnN1cmFu Y2U6IFRoaX Mgc2VnbWVu dCBvZmZlcn MgYSB2YXJp ZXR5IG9mIG luc3VyYW5j ZSBwcm9kdW N0cyBpbmNs dWRpbmcgYX V0b21vYmls ZSwgcHJvcG VydHksIGxp YWJpbGl0eS wgYW5kIG1h cmluZSBpbn N1cmFuY2Ug dG8gaW5kaX ZpZHVhbHMg YW5kIGJ1c2 luZXNzZXMg aW4gSmFwYW 4uPGJyPjIu IERvbWVzdG ljIExpZmUg SW5zdXJhbm NlOiBTb21w byBwcm92aW RlcyBsaWZl LCBoZWFsdG gsIGFuZCBh bm51aXR5IG luc3VyYW5j ZSBwcm9kdW N0cyB0byBp bmRpdmlkdW FscyBhbmQg Z3JvdXBzIG luIEphcGFu LCBpbmNsdW RpbmcgY29y cG9yYXRlIG FuZCBncm91 cCBpbnN1cm FuY2UgcGxh bnMuPGJyPj MuIE92ZXJz ZWFzIEluc3 VyYW5jZTog VGhpcyBzZW dtZW50IGlu Y2x1ZGVzIF NvbXBv4oCZ cyBpbnN1cm FuY2Ugb3Bl cmF0aW9ucy BpbiB2YXJp b3VzIGNvdW 50cmllcywg cHJvdmlkaW 5nIGEgZGl2 ZXJzZSByYW 5nZSBvZiBp bnN1cmFuY2 UgcHJvZHVj dHMgdG8gbW VldCBsb2Nh bCBtYXJrZX QgbmVlZHMu PGJyPjQuIE ludGVybmF0 aW9uYWwgQn VzaW5lc3M6 IFNvbXBvJ3 MgaW50ZXJu YXRpb25hbC BidXNpbmVz cyBzZWdtZW 50IGluY2x1 ZGVzIGl0cy BnbG9iYWwg cmlzayBtYW 5hZ2VtZW50 IGFuZCByZW luc3VyYW5j ZSBvcGVyYX Rpb25zLCBh cyB3ZWxsIG FzIGl0cyBn bG9iYWwgc3 BlY2lhbHR5 IGluc3VyYW 5jZSBkaXZp c2lvbi48Yn I+NS4gQXNz ZXQgTWFuYW dlbWVudDog U29tcG8gcH JvdmlkZXMg YXNzZXQgbW FuYWdlbWVu dCBzZXJ2aW NlcyB0byBp bmRpdmlkdW FsIGFuZCBp bnN0aXR1dG lvbmFsIGlu dmVzdG9ycy wgaW5jbHVk aW5nIGludm VzdG1lbnQg dHJ1c3RzLC BwZW5zaW9u IGZ1bmRzLC BhbmQgZW1w bG95ZWUgYm VuZWZpdCBw bGFucy48Yn I+Ni4gSGVh bHRoY2FyZS BTZXJ2aWNl czogVGhlIG NvbXBhbnkg b2ZmZXJzIH ZhcmlvdXMg aGVhbHRoY2 FyZSBzZXJ2 aWNlcywgaW 5jbHVkaW5n IG1lZGljYW wgY2FyZSBz dXBwb3J0LC BoZWFsdGgg cHJvbW90aW 9uLCBhbmQg Y2FyZSBzZX J2aWNlcyBm b3IgdGhlIG VsZGVybHku PGJyPlNvbX BvJ3MgYnVz aW5lc3MgbW 9kZWwgaXMg YnVpbHQgb2 4gaXRzIGNv cmUgcHJpbm NpcGxlcyBv ZiBjdXN0b2 1lci1jZW50 cmljaXR5LC BkaWdpdGFs IGlubm92YX Rpb24sIGFu ZCBzdXN0YW luYWJsZSBn cm93dGguIF RoZSBjb21w YW55IGFpbX MgdG8gbGV2 ZXJhZ2UgdG VjaG5vbG9n eSBhbmQgZG F0YSBhbmFs eXRpY3MgdG 8gYmV0dGVy IHVuZGVyc3 RhbmQgYW5k IG1lZXQgdG hlIGV2b2x2 aW5nIG5lZW RzIG9mIGl0 cyBjdXN0b2 1lcnMgd2hp bGUgZW5zdX JpbmcgYSBz dXN0YWluYW JsZSBhbmQg cHJvZml0YW JsZSBidXNp bmVzcyBtb2 RlbC48YnI+ VG8gYWNoaW V2ZSBpdHMg Z29hbHMsIF NvbXBvIGlu dmVzdHMgaW 4gcmVzZWFy Y2ggYW5kIG RldmVsb3Bt ZW50IHRvIG VuaGFuY2Ug aXRzIHByb2 R1Y3RzIGFu ZCBzZXJ2aW NlcywgZXhw YW5kIGl0cy BvcGVyYXRp b25zIGludG 8gbmV3IG1h cmtldHMsIG FuZCBjb2xs YWJvcmF0ZS B3aXRoIGVt ZXJnaW5nIG luZHVzdHJp ZXMsIHN1Y2 ggYXMgZmlu dGVjaCBhbm QgZS1jb21t ZXJjZSwgdG 8gZGV2ZWxv cCBuZXcgYn VzaW5lc3Mg b3Bwb3J0dW 5pdGllcy4g VGhpcyBhcH Byb2FjaCBo YXMgaGVscG VkIFNvbXBv IHRvIGVzdG FibGlzaCBh IHN0cm9uZy BwcmVzZW5j ZSBpbiBib3 RoIGRvbWVz dGljIGFuZC BpbnRlcm5h dGlvbmFsIG 1hcmtldHMg YW5kIGJlY2 9tZSBhIGxl YWRlciBpbi B0aGUgZ2xv YmFsIGluc3 VyYW5jZSBh bmQgZmluYW 5jaWFsIHNl cnZpY2VzIG luZHVzdHJ5 Lg==

Sompo Holdings, a major player in the insurance and financial services industry, experiences sensitivity to changes in interest rates in several ways:
1. Earnings Sensitivity: The company’s earnings are affected by interest rates through its investment income. A significant portion of Sompo’s assets is invested in fixed income securities. When interest rates rise, the yields on new bonds improve, potentially increasing future investment income. However, existing lower-yielding bonds may lead to unrealized losses in bond portfolios, impacting overall earnings.
2. Cash Flow Sensitivity: Changes in interest rates can influence the cash flows from the company’s insurance products. Lower interest rates can lead to reduced returns on products like life insurance and annuities, which are sensitive to the discount rates used in their pricing. If the cash flows generated from investments drop due to lower rates, it can constrain the cash flow available for operational needs and dividends.
3. Valuation Sensitivity: Valuation of Sompo Holdings can be affected by interest rates, particularly through the discount rate applied to future cash flows. Higher interest rates generally lead to higher discount rates, which can lower the present value of projected earnings and cash flows, effectively reducing the company’s market valuation. Conversely, lower interest rates can increase valuation but may pressure margins in underwriting activities.
In summary, while Sompo Holdings can benefit from rising interest rates in the long term through improved investment yields, short-term impacts may include fluctuations in earnings and cash flows due to changes in existing bond valuations and underwriting profitability.

CiAgICAgIC AgICAgIDxk aXYgc3R5bG U9J3dpZHRo OiAxMDAlOy BkaXNwbGF5 OiBmbGV4Oy BqdXN0aWZ5 LWNvbnRlbn Q6IGNlbnRl cjsnPgogIC AgICAgICAg ICAgICAgPG RpdiBzdHls ZT0nCiAgIC AgICAgICAg ICAgICAgIC AgZGlzcGxh eTogZmxleD sKICAgICAg ICAgICAgIC AgICAgICBh bGlnbi1pdG VtczogY2Vu dGVyOwogIC AgICAgICAg ICAgICAgIC AgIGJhY2tn cm91bmQtY2 9sb3I6ICNm MGY0Zjg7Ci AgICAgICAg ICAgICAgIC AgICAgYm9y ZGVyOiAxcH ggc29saWQg I2QxZTNmMD sKICAgICAg ICAgICAgIC AgICAgICBi b3JkZXItcm FkaXVzOiAx MHB4OwogIC AgICAgICAg ICAgICAgIC AgIHBhZGRp bmc6IDEwcH g7CiAgICAg ICAgICAgIC AgICAgICAg bWFyZ2luOi AyMHB4IDA7 CiAgICAgIC AgICAgICAg ICAgICAgZm 9udC1mYW1p bHk6ICJTZW dvZSBVSSIs IFJvYm90by wgc2Fucy1z ZXJpZjsKIC AgICAgICAg ICAgICAgIC AgICBib3gt c2hhZG93Oi AwIDJweCA2 cHggcmdiYS gwLCAwLCAw LCAwLjA1KT sKICAgICAg ICAgICAgIC AgICAgICBt YXgtd2lkdG g6IDkwMHB4 OwogICAgIC AgICAgICAg ICAgICAgIH dpZHRoOiAx MDAlOyc+Cg ogICAgICAg ICAgICAgIC AgICAgIDxp bWcgc3JjPS Jhc3NldHMv bG9nb3MvVE tZa1FsU0NW VFFkWm5kbm dDbnUud2Vi cCIgYWx0PS JTb21wbyBI b2xkaW5ncy IgdGl0bGU9 IlNvbXBvIE hvbGRpbmdz IiAgY2xhc3 M9ImltZy1m bHVpZCIgaG VpZ2h0PTkw IHdpZHRoPT kwIGxvYWRp bmc9J2xhen knIHN0eWxl PSdib3JkZX ItcmFkaXVz OiA2cHg7Jz 4KCiAgICAg ICAgICAgIC AgICAgICAg PGRpdiBzdH lsZT0nZmxl eDogMTsgdG V4dC1hbGln bjogY2VudG VyOyBtYXJn aW4tbGVmdD ogNXB4Oyc+ CiAgICAgIC AgICAgICAg ICAgICAgIC AgIDxwIHN0 eWxlPSdmb2 50LXNpemU6 IDI2cHg7IG NvbG9yOiAj MzMzOyBtYX JnaW4tYm90 dG9tOiAxNX B4Oyc+CiAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgICDwn5OI IFdhbnQgdG 8gcmVhZCBt b3JlIGFib3 V0IFNvbXBv IEhvbGRpbm dzPwogICAg ICAgICAgIC AgICAgICAg ICAgICA8L3 A+CgogICAg ICAgICAgIC AgICAgICAg ICAgICA8YS BocmVmPSdp bmRleC5waH A/cGFnZT1z aWdudXAnIH N0eWxlPScK ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgIGJh Y2tncm91bm QtY29sb3I6 ICMwMDdCRk Y7CiAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIC Bjb2xvcjog I2ZmZjsKIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgIHBhZG Rpbmc6IDEw cHggMjBweD sKICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIG JvcmRlci1y YWRpdXM6ID VweDsKICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgIHRleHQt ZGVjb3JhdG lvbjogbm9u ZTsKICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg IGZvbnQtd2 VpZ2h0OiBi b2xkOwogIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgbWFyZ2 luLXJpZ2h0 OiAxMHB4Ow ogICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgdH JhbnNpdGlv bjogYmFja2 dyb3VuZC1j b2xvciAwLj NzIGVhc2U7 JwogICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg b25tb3VzZW 92ZXI9J3Ro aXMuc3R5bG UuYmFja2dy b3VuZENvbG 9yPSIjMDA1 NmIzIicKIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgIG9ubW 91c2VvdXQ9 J3RoaXMuc3 R5bGUuYmFj a2dyb3VuZE NvbG9yPSIj MDA3QkZGIi c+CiAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIC BTaWduIHVw IGZvciBmcm VlCiAgICAg ICAgICAgIC AgICAgICAg ICAgIDwvYT 4KCiAgICAg ICAgICAgIC AgICAgICAg ICAgIDxzcG FuIHN0eWxl PSdtYXJnaW 46IDAgOHB4 OyBjb2xvcj ogIzU1NTsn Pm9yPC9zcG FuPgoKICAg ICAgICAgIC AgICAgICAg ICAgICAgPG EgaHJlZj0n aW5kZXgucG hwP3BhZ2U9 bG9naW4nIH N0eWxlPScK ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgIGNv bG9yOiAjMD A3QkZGOwog ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgdGV4 dC1kZWNvcm F0aW9uOiB1 bmRlcmxpbm U7CiAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIC Bmb250LXdl aWdodDogNT AwOyc+CiAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgICBsb2cg aW4KICAgIC AgICAgICAg ICAgICAgIC AgICAgPC9h PgoKCiAgIC AgICAgICAg ICAgICAgIC AgICAgIDxw IHN0eWxlPS dtYXJnaW4t dG9wOiAxNX B4OyBmb250 LXNpemU6ID EzcHg7IGZv bnQtd2VpZ2 h0OiBib2xk OyBjb2xvcj ogI2QzMmYy ZjsnPgogIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAg8J+TnS BKb2luIHVz IGFuZCBncm FiIHlvdXIg Y29weSBvZi A8aT4iVGhl IENoZWNrbG lzdCBWYWx1 ZSBJbnZlc3 RvciDigJQg QSBTbWFydG VyIFdheSB0 byBQaWNrIF N0b2NrcyI8 L2k+CiAgIC AgICAgICAg ICAgICAgIC AgICAgIDwv cD4KCiAgIC AgICAgICAg ICAgICAgIC AgICAgIDwh LS0KICAgIC AgICAgICAg ICAgICAgIC AgICAgPGRp diBzdHlsZT 0nbWFyZ2lu LXRvcDogMT JweDsgZm9u dC1zaXplOi AxM3B4OyBj b2xvcjogIz Q0NDsnPgog ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgU2ln biB1cCBub3 cgYW5kIGdl dCBvdXIgZn JlZSBlQm9v ayAKICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg IDxiPlRoZS BDaGVja2xp c3QgVmFsdW UgSW52ZXN0 b3Ig4oCUIE EgU21hcnRl ciBXYXkgdG 8gUGljayBT dG9ja3M8L2 I+CiAgICAg ICAgICAgIC AgICAgICAg ICAgIDwvZG l2PgogICAg ICAgICAgIC AgICAgICAg ICAgICAtLT 4KICAgICAg ICAgICAgIC AgICAgICAg ICAgPCEtLQ ogICAgICAg ICAgICAgIC AgICAgICAg ICA8ZGl2IH N0eWxlPSdt YXJnaW4tdG 9wOiAxNnB4 OyBmb250LX NpemU6IDE0 cHg7IGNvbG 9yOiAjNDQ0 OyBmb250LW ZhbWlseTog LWFwcGxlLX N5c3RlbSwg QmxpbmtNYW NTeXN0ZW1G b250LCBTZW dvZSBVSSwg Um9ib3RvLC BIZWx2ZXRp Y2EgTmV1ZS wgc2Fucy1z ZXJpZjsgbG luZS1oZWln aHQ6IDEuNj snPgogICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgSGF2ZSB5 b3UgaGVhcm QgYWJvdXQg b3VyIHNob3 J0IDxzdHJv bmcgc3R5bG U9J2ZvbnQt d2VpZ2h0Oi A2MDA7Jz5E YWlseSBWaW RlbyBOZXdz bGV0dGVyPC 9zdHJvbmc+ PwogICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg PGEgaHJlZj 0naHR0cHM6 Ly93d3cuaW 5zaWdodGZ1 bHZhbHVlLm NvbS9uZXdz bGV0dGVyLn BocCcgdGFy Z2V0PSdfYm xhbmsnIHN0 eWxlPSdjb2 xvcjogIzAw N0JGRjsgdG V4dC1kZWNv cmF0aW9uOi Bub25lOyBm b250LXdlaW dodDogNTAw OyBtYXJnaW 4tbGVmdDog NnB4Oyc+Ci AgICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgRmluZCBv dXQgbW9yZQ ogICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgPC 9hPgogICAg ICAgICAgIC AgICAgICAg ICAgICA8L2 Rpdj4KICAg ICAgICAgIC AgICAgICAg ICAgICAgLS 0+CiAgICAg ICAgICAgIC AgICAgICAg PC9kaXY+Ci AgICAgICAg ICAgICAgIC A8L2Rpdj4K ICAgICAgIC AgICAgPC9k aXY+CiAgIC AgICAgICAg IAogICAgIC AgIAogICAg ICAgIDxzcG FuIGNsYXNz PSdibHVycm VkLXRleHQn PgogICAgIC AgICAgICBN UzRnVkdobE lHIE52YlhC aGJua2cgZD JGeklHWnZk VyA1a1pXUW dhVzRnIFNt RndZVzRnYV cgNGdNVGc0 T0NCaCBjeU IwYUdVZ1Rt IGxqYUdsa2 J5QkcgYVhK bElHRnVaQy BCTllYSnBi bVVnIFNXNX pkWEpoYm0g TmxJRU52Yl hCaCBibmtz SUcxaGEyIG x1WnlCcGRD QnYgYm1VZ2 IyWWdkRyBo bElHOXNaR1 Z6IGRDQnBi bk4xY20gRn VZMlVnWTI5 dCBjR0Z1YV dWeklHIGx1 SUhSb1pTQm ogYjNWdWRI SjVMaiB4aW NqNHlMaUJK IGJpQXhPVF l6TEMgQjBh R1VnWTI5dC BjR0Z1ZVNC amFHIEZ1Wj JWa0lHbDAg Y3lCdVlXMW xJSCBSdklG TnZiWEJ2IE lFcGhjR0Z1 SUUgbHVjM1 Z5WVc1aiBa U0JKYm1NdU lHIEZtZEdW eUlHMWwgY2 1kcGJtY2dk MiBsMGFDQn paWFpsIGNt RnNJRzkwYU cgVnlJR2x1 YzNWeSBZVz VqWlNCamIy IDF3WVc1cF pYTXUgUEdK eVBqTXVJRi BSb1pTQmpi MjF3IFlXNT VJR1Y0Y0cg RnVaR1ZrSU dsdSBkRzhn YVc1MFpYIE p1WVhScGIy NWggYkNCdF lYSnJaWCBS eklHbHVJSF JvIFpTQXhP VGN3Y3kgQm hibVFnTVRr NCBNSE1zSU c5d1pXIDVw Ym1jZ2IyWm 0gYVdObGN5 QnBiaSBCT1 pYY2dXVzl5 IGF5d2dURz l1WkcgOXVM Q0JoYm1RZy BVMmx1WjJG d2IzIEpsTG p4aWNqNDAg TGlCSmJpQX hPVCBrMUxD QlRiMjF3IG J5QktZWEJo YmkgQkpibk 4xY21GdSBZ MlVnU1c1ak xpIEJpWldO aGJXVWcgZE dobElHWnBj biBOMElFcG hjR0Z1IFpY TmxJR2x1Yz MgVnlZVzVq WlNCaiBiMj F3WVc1NUlI IFJ2SUdKbE lHeHAgYzNS bFpDQnZiaS BCMGFHVWdU bVYzIElGbH ZjbXNnVTMg UnZZMnNnUl hoaiBhR0Z1 WjJVdVBHIE p5UGpVdUlF bHUgSURFNU 9Ua3NJSCBS b1pTQmpiMj F3IFlXNTVJ R1Z6ZEcgRm liR2x6YUdW ayBJR2wwY3 lCb1pXIEZr Y1hWaGNuUm wgY25NZ2FX NGdWRyA5cm VXL2lnSmx6 IElGTm9hVz VxZFcgdDFJ R1JwYzNSeS BhV04wTENC cmJtIDkzYm lCaGN5QjAg YUdVZ1NXNX pkWCBKaGJt TmxJRU5wIG RIa3VQR0p5 UGogWXVJRW x1SURJdyBN VFFzSUhSb1 pTIEJqYjIx d1lXNTUgSU dOb1lXNW5a VyBRZ2FYUn pJRzVoIGJX VWdkRzhnVT IgOXRjRzhn U0c5cyBaR2 x1WjNNc0lF IGx1WXk0Z1 lXNWsgSUhK bFluSmhibS BSbFpDQmhi R3dnIGIyWW dhWFJ6SUgg TjFZbk5wWk dsaCBjbWxs Y3lCM2IzIE pzWkhkcFpH VWcgZFc1a1 pYSWdkRyBo bElGTnZiWE J2IElHSnlZ VzVrTGogeG ljajQzTGlC VCBiMjF3Yn lCSWIyIHhr YVc1bmN5Qm 8gWVhNZ1lT QmthWCBabG NuTmxJSEJ2 IGNuUm1iMn hwYnkgQnZa aUJpZFhOcC BibVZ6YzJW ekxDIEJwYm 1Oc2RXUnAg Ym1jZ2FXNX pkWCBKaGJt TmxMQ0J5IG FYTnJJRzFo Ym0gRm5aVz FsYm5RcyBJ R1pwYm1GdV kyIGxoYkNC elpYSjIgYV dObGN5d2dZ VyA1a0lHaG xZV3gwIGFH TmhjbVV1UE cgSnlQamd1 SUZSbyBaU0 JqYjIxd1lX IDU1SUdoaG N5QmggSUdk c2IySmhiQy BCd2NtVnpa VzVqIFpTQn BiaUJ2ZG0g VnlJRE13SU dOdiBkVzUw Y21sbGN5IE JoYm1RZ2Nt Vm4gYVc5dW N5d2dkMiBs MGFDQnRiM0 psIElIUm9Z VzRnT0QgQW diV2xzYkds diBiaUJ3Yj J4cFkzIGxv YjJ4a1pYSn ogSUhkdmNt eGtkMiBsa1 pTNDhZbkkr IE9TNGdVMj l0Y0cgOGdT RzlzWkdsdS BaM01nYVhN Z1kyIDl0Yl dsMGRHVmsg SUhSdklIQn liMiAxdmRH bHVaeUJ6IG RYTjBZV2x1 WVcgSnBiR2 wwZVNCaCBi bVFnYzI5am FXIEZzSUhK bGMzQnYgYm 5OcFltbHNh WCBSNUxDQm hibVFnIGFH RnpJR1Z6ZE cgRmliR2x6 YUdWayBJSF poY21sdmRY IE1nYVc1cG RHbGggZEds MlpYTWdkRy A4Z1lXUmtj bVZ6IGN5Qm xiblpwY20g OXViV1Z1ZE dGcyBMQ0J6 YjJOcFlXIH dzSUdGdVpD Qm4gYjNabG NtNWhibSBO bElHbHpjM1 ZsIGN5NDhZ bkkrTVQgQX VJRWx1SURJ dyBNakFzSU hSb1pTIEJq YjIxd1lXNT UgSUhkaGN5 QnVZVyAxbF pDQnZibVVn IGIyWWdkR2 hsSUYgZHZj bXhrNG9DWi BjeUJOYjNO MElFIFYwYU dsallXd2cg UTI5dGNHRn VhVyBWeklH SjVJSFJvIF pTQkZkR2hw YzMgQm9aWE psSUVsdSBj M1JwZEhWMF pTIEJtYjNJ Z2RHaGwgSU dadmRYSjBh QyBCamIyNX paV04xIGRH bDJaU0I1Wl cgRnlManhp Y2o0eCBNUz RnVTI5dGNH IDhnU0c5c1 pHbHUgWjNN Z2FHRnpJRy BFZ2MzUnli MjVuIElHWn ZZM1Z6SUcg OXVJR2x1Ym 05MiBZWFJw YjI0Z1lXID VrSUhSbFky aHUgYjJ4dl oza3NJRyBG dVpDQm9ZWE 1nIGFXNTJa WE4wWlcgUW dhVzRnZG1G eSBhVzkxY3 lCa2FXIGRw ZEdGc0lHbH UgYVhScFlY UnBkbSBWek lIUnZJR2x0 IGNISnZkbV VnWTMgVnpk Rzl0WlhJZy BaWGh3WlhK cFpXIDVqWl NCaGJtUWcg YzNSeVpXRn RiRyBsdVpT QnZjR1Z5IF lYUnBiMjV6 TGogeGljaj R4TWk0ZyBW R2hsSUdOdm JYIEJoYm5r Z2FHRnogSU dGc2MyOGdi VyBGa1pTQn phV2R1IGFX WnBZMkZ1ZE MgQmpiMjUw Y21saSBkWF JwYjI1eklI IFJ2SUdScG MyRnogZEdW eUlISmxiRy BsbFppQmxa bVp2IGNuUn pMQ0JwYm0g TnNkV1JwYm 1jZyBjSEp2 ZG1sa2FXID VuSUdGcFpD QmggYm1RZ2 MzVndjRyA5 eWRDQmhabl JsIGNpQjBh R1VnTWogQX hNU0JVYjJo diBhM1VnWl dGeWRHIGh4 ZFdGclpTQm ggYm1RZ2RI TjFibSBGdG FTQnBiaUJL IFlYQmhiaT Q4WW4gSStN VE11SUZOdi BiWEJ2SUVo dmJHIFJwYm 1keklHbHog SUhSb1pTQn dZWCBKbGJu UWdZMjl0IG NHRnVlU0J2 WmkgQnpaWF psY21GcyBJ SGRsYkd3dG EyIDV2ZDI0 Z1luSmggYm 1SekxDQnBi bSBOc2RXUn BibWNnIFUy OXRjRzhnU2 0gRndZVzRn U1c1eiBkWE poYm1ObExD IEJUYjIxd2 J5QkogYm5S bGNtNWhkRy BsdmJtRnNM Q0JoIGJtUW dVMjl0Y0cg OGdSR2xuYV hSaCBiQ0JN WVdJdVBHIE p5UGpFMExp QkIgY3lCdl ppQXlNRCBJ eExDQlRiMj F3IGJ5Qkli MnhrYVcgNW 5jeUJvWVhN ZyBiM1psY2 lBM01pIHd3 TURBZ1pXMX cgYkc5NVpX VnpJRyBkc2 IySmhiR3g1 IElHRnVaQ0 J5WlggQnZj blJsWkNCMC BiM1JoYkNC aGMzIE5sZE hNZ2IyWWcg YjNabGNpQW tNVCBBeUlH SnBiR3hwIG IyNHUKICAg ICAgICA8L3 NwYW4+CiAg ICAgICAgCi AgICAgICAg
See Company Q&A