NEWS RELEASE
June 17, 2020
Ryosuke Mori, President
LIFENET INSURANCE COMPANY(Securities Code: 7157, TSE Mothers)

Matters Concerning Controlling Shareholders
TOKYO, June 17, 2020 – LIFENET INSURANCE COMPANY (TSE Mothers 7157, President
Ryosuke Mori, URL: https://ir.lifenet-seimei.co.jp/en/) hereby announces the following mattersconcerning controlling shareholders, etc. with respect to au Financial Holdings Corporation (“auFinancial Holdings”) and KDDI CORPORATION (“KDDI”), which are its other associated companies.
1. Trade names, etc. of other associated companies(As of March 31, 2020)
Ratio of voting rights (%)
Nameau FinancialHoldings
CorporationKDDI
CORPORATION

RelationshipDirectIndirectownershipownership

Otherassociatedcompany

24.92-24.92Otherassociatedcompany-24.92

24.92

Total

Financial instruments exchanges,
etc., where issued share certificatesare listed-

1st section ofTokyo Stock Exchange*au Financial Holdings is a wholly owned subsidiary of KDDI. KDDI owns its voting rights of Lifenet indirectly
through au Financial Holdings.

2. Name of the company that is deemed to be the most influential on Lifenet among otherassociated companies and the reason
The company that is deemed to be the most influential on Lifenet is KDDI. au Financial Holdings
is a wholly owned subsidiary of KDDI.
3. Relationship between Lifenet and its other associated companies
au Financial Holdings is a major shareholder in Lifenet, the largest shareholder, with holdings of
24.92% voting rights of Lifenet, as well as an “insurance company’s major shareholder” as defined
under Insurance Business Act, and Lifenet’s other associated company whose one of employees
serves concurrently as an Outside Director at Lifenet. Lifenet and au Financial Holdings entered intoa capital alliance agreement, and three companies including KDDI concluded a business allianceagreement. KDDI owns 100% of the shares of au Financial Holdings, and it owns 24.92% ofLifenet’s voting right indirectly. In addition, KDDI has been selling Lifenet’s insurance products since2016 as an insurance agent for Lifenet.
Adequate independence is ensured in this relationship as Lifenet implements its own businessactivities and decision-making based on independent managerial judgments without being subject
to any special restrictions from au Financial Holdings and KDDI. The Director’s concurrent positions
are as shown below. In addition to this, as of June 17, 2020, two employees of Lifenet are seconded
to KDDI as its employees.

Copyright© LIFENET INSURANCE COMPANY All rights reserved.

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NEWS RELEASE(As of June 17, 2020)
Position

Name

DirectorYasuhiro(Outside)

MoritaPosition at otherassociated company*
Managing Executive Officer,
au Financial Holdings
Corporation

Reasons for appointment
Due to his extensive experience and awealth of expertise as the officer in charge ofnew business at KDDI CORPORATION andas management in a financial firm* Yasuhiro Morita is on secondment to au Financial Holdings from KDDI.

4. Matters relating to transactions with controlling shareholders, etc.
There are no important matters to be reported in fiscal 2019.

About LIFENET (URL： https://ir.lifenet-seimei.co.jp/en/)
Remembering the original purpose of life insurance - mutual support - LIFENET INSURANCECOMPANY was founded with the goal of offering simple, convenient and competitively priced
products and services based on the highest levels of business integrity. We sell these products andservices directly to customers over the Internet, and by doing so, are able to offer highly costcompetitive products and accept applications from customers at all hours of the day.
Contact:
Investor Relations, Corporate Planning DepartmentTel:+81-3-5216-7900
e-mail: ir@lifenet-seimei.co.jp
Disclaimer: This is a summarized translation of the original Japanese document, prepared and provided solely forreaders' convenience. In case of any discrepancy or dispute, the Japanese document prevails.

Copyright© LIFENET INSURANCE COMPANY All rights reserved.

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