February 14, 2014
Sony Financial Holdings Inc.

Summary Information on Sony Life’s Financial Results
for the Nine Months Ended December 31, 2013
<Contents>
1. Key Performance Results(1) Policy Amount in Force and New Policy Amount(2) Annualized Premiums

P.2
P.2

2. Status of Investment Assets (General Account)(1) Portfolio of General Account Assets(2) Fair Value Information on Securities(3) Fair Value Information on Monetary Trusts

P.3
P.4
P.6

3. Non-consolidated Balance Sheets

P.7

4. Non-consolidated Statements of Income

P.8

5. Reconciliation to Core Profit and Non-consolidated Ordinary Profit

P.9

6. Solvency Margin Ratio

P.10

7. Status of Separate Account Assets(1) Balance of Separate Account Assets(2) Policy Amount in Force (Separate Account)

P.12
P.12

8. Consolidated Summary

P.12(Reference) Holdings of Securitized Papers and Other Sub-prime Related Investments

P.13

1

1. Key Performance Results(1) Policy Amount in Force and New Policy Amount
Policy amount in force(Number: Thousand, Amount: 100 millions of yen, %)As of December 31, 2012

As of March 31, 2013

As of December 31, 2013

Category
NumberAmount5,845

Individual life insurance

368,038

NumberAmount373,663

5,958

% YoY
changeNumber% change fromMarch 31, 2013

6,180

105.7

103.7

Amount% YoYchange% change fromMarch 31, 2013

384,133

104.4

102.8

78

3,998

82

4,127

90

115.1

110.4

4,504

112.6

109.1

5,924

372,0366,041

377,790

6,271

105.9

103.8

388,637

104.5

102.9

Group life insurance－

13,354－

13,456－－－

13,980

104.7

103.9

Group annuities

－

568

－

565

－

－

－

554

97.6

98.2

Individual annuities
Subtotal

Notes:
1. The policy amount in force for individual annuities are equal to the sum of (a) the funds to be held at the time annuity payments are to commence for policies for which annuity payments have not yet
commenced and (b) the amount of policy reserves for policies for which payments have commenced.
2. The policy amount in force for group annuities is equal to the amount of outstanding policy reserves.

New policy amount(Number: Thousand, Amount: 100 millions of yen, %)For the nine months ended December 31, 2012

Category

NumberIndividual life insurance
Individual annuities

Amount

For the nine months ended December 31, 2013

New policies

Increase fromconversion% YoYchangeNumber% YoYchangeAmountNew policies

430

31,75931,759

－

403

93.9

29,485

92.8

29,485

－

9

399

399

－

11

125.0

545

136.5

545

－

－

－

439

32,15932,159415

94.5

30,031

93.4

30,031

Group life insurance

－

38

38

－

－

49

129.2

49

Group annuities

－

－

－

－

－

－

－

－

Subtotal

Increase fromconversion

Notes: 1. The new policy amount including increase from conversion for individual annuities is equal to the funds held at the time annuity payments commence.
2. The new policy amount for group annuities is equal to the initial premium payment.

(2) Annualized Premiums
Policy amount in force
Category(Millions of yen, %)As ofDecember 31, 2012

As ofMarch 31, 2013

As ofDecember 31, 2013

% YoY change% change fromMarch 31, 2013

Individual life insurance

643,049

654,723

674,397

104.9

103.0

Individual annuities

14,77015,214

16,480

111.6

108.3

657,819

669,937

690,877

105.0

103.1

155,747

158,686

166,341

106.8

104.8

Total
Of which, medical protection,living benefit protection, etc.

New policies(Millions of yen, %)Category

For the nine months ended
December 31, 2012

For the nine months ended
December 31, 2013

% YoY change

Individual life insurance

49,66846,722

94.1

Individual annuities

1,529

2,016

131.9

51,19848,73995.2

13,16910,56880.3

Total
Of which, medical protection,living benefit protection, etc.

Notes:

1. Annualized premiums refer to an amount that is calculated by multiplying individual premium amounts by a coefficient that differs depending on the premium payment methods, thereby
converting the figure to a per-year premium. (For lump-sum payment policies, premiums are divided by the number of coverage years.)
2. “Medical protection, living benefit protection, etc” indicates the portion of annualized premiums for medical protection benefits (hospitalization benefits, surgical procedure benefits, etc.) andproducts with living benefit protection (benefits for specific illness, nursing care benefits, etc.).

2

2. Status of Investment Assets (General Account)(1) Portfolio of General Account Assets(Millions of yen)

Category
Cash and deposits, call loans
Securities repurchased under resale agreements
Pledged money for bond borrowing transaction
Monetary claims purchased
Securities under proprietary accounts
Monetary trusts
Securities
JGBs, other bonds
Japanese stocks
Foreign securities
Bonds
Stocks, etc.
Other securities
Loans
Real estate
Deferred tax assets
Other assets
Reserve for possible loan losses
Total
Of which, foreign-currency-denominated assets

As of March 31, 2013
Amount%103,321－－－－306,122
4,683,747
4,561,048
31,10687,42862,022
25,406
4,164
145,104
70,301
13,72480,038(235)
5,402,126
41,756

Note: Real estate is the total of land, buildings and construction in progress.

3

As of December 31, 2013
Amount
%

1.9
－
－
－
－
5.7
86.7
84.4
0.6
1.6
1.1
0.5
0.1
2.7
1.3
0.3
1.5
（0.0）
100.0
0.8

62,625－－－－
301,550
5,159,226
5,016,247
36,478102,403
74,92527,477
4,097
150,863
67,01016,494
98,769(257)
5,856,283
53,777

1.1
－
－
－
－
5.1
88.1
85.7
0.6
1.7
1.3
0.5
0.1
2.6
1.1
0.3
1.7
(0.0)
100.0
0.9

(2) Fair Value Information on Securities
a. Fair value information on securities with market value (except trading-purpose securities)(Millions of yen)

As of March 31, 2013

As of December 31, 2013

Net unrealized gains (losses)
Category

Held-to-maturity securities
Policy reserve matching bonds

Carrying
amountJGBs, other bonds
Japanese stocks
Foreign securities
Bonds
Stocks, etc.
Other securities
Monetary claims purchased
Certificates of deposit
Others
Total
JGBs, other bonds
Japanese stocks
Foreign securities
Bonds
Stocks, etc
Other securities
Monetary claims purchased
Certificates of deposit
Others

Unrealized Unrealized
gains
lossesFair value

Unrealized
gains

Unrealized
losses3,874,232-

4,425,970-

551,737-

551,737--

4,269,090-

4,682,964-

413,874-

414,787
-

912
-

-

-

-

-

-

-

-

-

-

-

955,999925,308
14,76014,454
14,4541,476
4,830,232
4,756,200
14,76057,79557,795
1,476-

1,079,296
1,036,956
20,994
18,681
18,681
2,664
5,505,267
5,410,686
20,99470,92270,922
2,664-

123,296
111,648
6,233
4,226
4,226
1,188
675,034
654,486
6,233
13,126
13,126
1,188-

123,344
111,648
6,281
4,226
4,226
1,188
675,082
654,486
6,281
13,126
13,126
1,188
-

47
47
47
47
-

1,039,242
1,006,456
15,52815,783
15,439344
1,474
5,308,333
5,220,125
15,52871,20570,861344
1,474

1,153,434
1,105,661
25,47819,782
19,503278
2,512
5,836,399
5,719,811
25,47888,59688,318
278
2,512

-

-

114,191
99,205
9,950
3,998
4,064
(65)
1,037
528,065499,686
9,950
17,391
17,457
(65)
1,037
-

115,472
99,666
10,690
4,076
4,076
1,037
530,259
500,147
10,69018,383
18,383
1,037
-

1,280
461
740
78
12
65
2,193
461
740
991
925
65
-

Stocks of subsidiaries andaffiliated companies
Available-for-sale securities

Fair value

Net unrealized gains (losses)
Carrying
amountN tNotes:
1. The above table includes assets and others which are permitted to be treated as equivalent to securities defined in the Financial Instruments and Exchange Law of Japan.
2. The above table included monetary trusts other than trading-purpose securities, and their carrying amount and net unrealized gains (losses) as of December 31, 2013 amounted to¥268,650 million and ¥34,432 million respectively.
3. Carrying amount represents the amount after deductions for depreciable costs and impairment losses, before mark-to-market.

b. Carrying amounts of securities without market value(Millions of yen)
Category

As of March 31, 2013

As of December 31, 2013

Held-to-maturity securities--

Unlisted foreign bonds--

Others--

Policy reserve matching bonds--

Stocks of subsidiaries and affiliated companies

12,607

15,000Available-for-sale securities

20,372

17,361

Unlisted domestic stocks (except OTC stocks)

4-

Unlisted foreign stocks (except OTC stocks)

948

899

Unlisted foreign bonds
OthersTotal--

19,41916,461

32,98032,3614

c. Fair Value information consisting of that stated in the previous table-a and foreign exchange and other gains (losses) for table-b(Millions of yen)
As of December 31, 2013

As of March 31, 2013
Category

Held-to-maturity securities

Net unrealized gains (losses)

Carrying
amountFair value

Unrealized
gains

Net unrealized gains (losses)

Carrying
amountUnrealized
lossesFair value

Unrealized
gains

Unrealized
losses3,874,232

4,425,970

551,737

551,737-

4,269,090

4,682,964

413,874

414,787

-

-

-

-

-

-

-

-

-

-

Stocks of subsidiaries and affiliated companies

12,607

12,607---

15,00015,000---Available-for-sale securities

1,662

Policy reserve matching bonds

912

976,372

1,103,708

127,335

128,555

1,219

1,056,603

1,178,218

121,615

123,277

JGBs, other bonds

925,308

1,036,956

111,648

111,648-

1,006,456

1,105,661

99,20599,666461

Japanese stocks

14,76520,998

6,233

6,281

47

15,52825,4789,950

10,690740

Foreign securities

15,40320,083

4,679

4,679

-

16,68321,516

4,832

4,911

78

14,454

18,681

4,226

4,226

-

15,43919,503

4,064

4,076

12

Stocks, etc.

948

1,401

452

452

-

1,243

2,012

768

834

65

Other securities

20,89525,669

4,774

5,946

1,171

17,93625,562

7,626

8,008

381

Monetary claims purchased

-

-

-

-

-

-

-

-

-

-

Certificates of deposit

-

-

-

-

-

-

-

-

-

-

Others

-

-

-

-

-

-

-

-

-

-

4,863,212

5,542,285

679,073

680,292

1,219

5,340,694

5,876,183

535,489

538,064

2,575

JGBs, other bonds

4,756,200

5,410,686

654,486

654,486-

5,220,125

5,719,811

499,686

500,147

461

Japanese stocks

24,872

31,106

6,233

6,281

47

26,52836,4789,950

10,690740

Foreign securities

Bonds

Total

61,24474,823

13,578

13,578-76,104

94,33018,225

19,217991

Bonds

57,79570,922

13,126

13,126-70,861

88,31817,457

18,383925

Stocks, etc

3,448

3,901

452

452

-

5,243

6,012

768

834

65

Other securities

20,89525,669

4,774

5,946

1,171

17,93625,562

7,626

8,008

381

Monetary claims purchased

-

-

-

-

-

-

-

-

-

-

Certificates of deposit

-

-

-

-

-

-

-

-

-

-

Others

-

-

-

-

-

-

-

-

-

-

5

(3) Fair Value Information on Monetary Trusts(Millions of yen)

As of March 31, 2013
Category

Monetary trusts

Net unrealized gains (losses)

Balance
Fair value
sheet amount
306,122

As of December 31, 2013

Unrealized Unrealized
gains
losses306,122---

Balance sheet
Fair value
amount301,550

301,550

Net unrealized gains (losses)
Unrealized Unrealized
gains
losses---Note: The table above includes ¥50 million of jointly invested monetary trusts.

Monetary trusts for investment(Millions of yen)

As of March 31, 2013
Category

As of December 31, 2013

Net valuation gains (losses)
recorded in income

Balance sheet amount-

Monetary trusts for investment

Net valuation gains (losses)
recorded in income

Balance sheet amount

-

-

-

Note: Monetary trusts includes cash and call loans, etc. held in monetary trusts.

Monetary trusts for held-to-maturity and policy reserve matching and other monetary trusts
As of March 31, 2013

(Millions of yen)

As of December 31, 2013

Net unrealized gains (losses)
Category

Carrying
amountFair value

Net unrealized gains (losses)

Unrealized Unrealized
gains
lossesCarrying
amountFair value

Unrealized Unrealized
gains
lossesMonetary trusts for held-to-maturity

-

-

-

-

-

-

-

-

-

-

Monetary trusts for policy reserve matching

-

-

-

-

-

-

-

-

-

-

267,865

306,071

38,20638,206-

267,066

301,499

34,432

34,432-Other monetary trusts

Note: Monetary trusts includes cash and call loans, etc. held in monetary trusts.

6

3. Non-consolidated Balance Sheets(Millions of yen)

As of March 31, 2013

As of December 31, 2013

AmountAmountAssets:Cash and deposits
Call loans
Monetary trusts
Securities(Japanese government bonds)(Japanese municipal bonds)(Japanese corporate bonds)(Japanese stocks)(Foreign securities)
Loans
Policy loans
Commercial loans
Tangible fixed assets
Intangible fixed assets
Due from reinsurers
Other assets
Deferred tax assets
Reserve for possible loan losses
Total Assets

27,37397,088306,122
5,211,535
4,669,003
10,20841,092
61,884275,439
145,104
145,01985
70,96926,102
100
54,865
13,724(235)
5,952,750

12,53065,246
301,550
5,793,892
5,137,661
8,703
40,221
76,953335,658
150,863
150,81449
67,52024,038279
75,22016,494(257)
6,507,378

Reserve for price fluctuations
Deferred tax liabilities on land revaluation
Total Liabilities

5,501,850
24,646
5,472,930
4,273
2,431
547
49,844,
15,586243
656
33,357
22,770171
32,26432,264536
5,610,417

6,037,839
24,4706,009,290
4,078
1,696
464
44,383,4,531
651
39,20024,72662
38,81438,814536
6,148,523

Net Assets:
Common stock
Capital surplus
Capital reserve
Retained earnings
Earned reserve
Other retained earnings
Unappropriated retained earnings for the period
Total shareholders' equity
Net unrealized gains on other securities, net of taxes
Land revaluation, net of taxes
Total valuation and translation adjustments
Total Net Assets
Total Liabilities and Net Assets

70,0005,865
5,865
187,698
15,478172,219
172,219
263,563
80,283(1,513)78,769342,333
5,952,750

70,0005,865
5,865
208,019
17,718190,300
190,300
283,884
76,484(1,513)74,970358,855
6,507,378

Liabilities:
Policy reserves and others
Reserve for outstanding claims
Policy reserves
Reserve for policyholders' dividends
Due to agencies
Due to reinsurers
Other liabilities
Accrued income tax
Lease obligations
Asset retirement obligations
OthersReserve for employees' retirement benefits
Reserve for directors' retirement benefits
Reserve for price fluctuations

7

4. Non-consolidated Statements of Income(Millions of yen)
For the nine months ended
December 31, 2012

For the nine months ended
December 31, 2013

AmountAmount784,173
657,343
656,472
111,40380,3573,934
2,356
24,73915,426731,282
215,545
51,6786,704
37,398
116,509
1,833
409,511
409,502
9
9,469
30
1,587
327
82
80,071
16,68452,891
6 055
6,055
14
82
4,926
4,926
1,031
136
46,69918,392(2,815)
15,576
31,122

Ordinary Revenues
Income from insurance premiums(Insurance premiums)
Investment income(Interest income and dividends)(Income from monetary trusts, net)
(Gains on sale of securities)(Gains on derivatives, net)
(Gains on separate accounts, net)
Other ordinary income
Ordinary Expenses
Insurance claims and other payments(Insurance claims)(Annuity payments)(Insurance benefits)(Surrender payments)(Refund to policyholders)
Provision for policy reserves and others
Provision for policy reserves
Interest on policyholders' dividend reserve
Investment expenses(Interest expenses)(Losses on sale of securities)(Devaluation losses on securities)(Losses on separate accounts, net)
Operating expenses
Other ordinary expenses
Ordinary Profit
E tdiL
Extraordinary
Losses
Losses on disposal of fixed assets
Impairment losses
Provision for reserve for price fluctuations
Provision for reserve for price fluctuations
Losses on sale of shares of subsidiaries and affiliates
OthersProvision for reserve for policyholders' dividends
Income Before Income Taxes
Income Taxes -current
Income Taxes -deferred
Total Income Taxes
Net Income

8955,212738,797
738,163
194,862
90,232
3,987
674
172
98,766
21,552
900,439
251,408
57,376
7,285
45,805
137,241
2,302
536,364
536,359
4
6,057
40
47
85,501
21,10654,773
6 618
6,618
38
11
6,549
6,549
19
67
48,086
17,773(1,207)
16,566
31,5205. Reconciliation to Core Profit and Non-consolidated Ordinary Profit(Millions of yen)

For the nine months ended
December 31, 2012
Core profit

A

Capital gains

For the nine months ended
December 31, 2013

57,03756,699

2,356

1,827

Income from monetary trusts, net--

Income from trading securities, net--

Gains on sale of securities

2,356

674

Gains on derivatives, net-

172

Foreign exchange gains, net-

980

Other capital gains--

Capital losses

3,251

626

Losses on monetary trusts, net--

Losses on trading securities, net

-

-

1,587

47

327

-

Losses on derivatives, net

82-

Foreign exchange losses, net

1,220

-

Losses on sale of securities
Devaluation losses on securities

Other capital losses

34

578

Net capital gains (losses)

B

(894)

1,201

Core profit plus net capital gains (losses)

A+B

56,142

57,9010---

Other one-time gains
Gains from reinsurance
Reversal of contingency reserve--

Reversal of specific reserve for possible loan losses

0-

Others

-

-

3,252

3,128

-

-

Other one-time losses
Losses from reinsurance
Provision for contingency reserve

3,085

2,938

Provision for specific reserve for possible loan losses-

21

Provision for reserve for loan losses from borrowers in specific foreign countries--

Write-off of loans--

OthersNet other one-time gains (losses)
Ordinary profit

166

168

C

(3,251)(3,128)

A+B+C

52,891

54,773

Notes:
1. Core profit for the nine months ended December 31, 2012 (A) includes income gains of ¥3,934 million in income from monetary trusts; other capital losses
include impairment losses of ¥34 million from investment partnership; "Others" of other one-time losses included provision of additional policy reserve of ¥166 million.
2. Core profit for the nine months ended December 31, 2013 (A) includes income gains of ¥3,987 million in income from monetary trusts; other capital losses
include provision of policy reserves and others of ¥384 million for currency market fluctuations of products dominated in foreign currencies; impairment lossesof ¥193 million from investment partnership; "Others" of other one-time losses included provision of additional policy reserve of ¥168 million.

96. Solvency Margin Ratio(Millions of yen)

Category

As of March 31, 2013

As of December 31, 2013

872,502

961,934

Common stock, etc.

252,363282,373

Reserve for price fluctuations

32,26438,814

Contingency reserve

59,56162,49900

Net unrealized gains on other securities multiplied by 90% (100% if losses)

114,602109,453

Net unrealized gains on real estate multiplied by 85% (100% if losses)(2,012)(1,386)

Unallocated portion of reserve for policyholders' dividends

464

1,771

Amount excluded from deferred tax assets－－

Deferred tax assets

70,604

83,948

Excess amount of policy reserves based on Zillmer method

372,561

393,454－－(27,907)(7,995)－(1,000)76,47280,000Total solvency margin(A)

General reserve for possible loan losses

Subordinated debt
The portion of the excess amount if policy reserves based on Zillmer method andsubordinated debt that is not included in the margin
Deductible items
Total risk

(R1  R8 ) 2  (R2  R3  R7 ) 2  R4

(Ｂ)

Insurance risk

R1

21,871

22,399

Third-sector insurance risk

R8

8,307

8,409

Assumed interest rate risk

R2

29,05429,479Asset management risk

R327,592

29,466

Minimum guarantee risk

R711,474

12,659Business management risk

R4

1,966

2,048

2,281.8%

2,404.8%

Solvency margin ratio
(A)
x 100
(1/2) x (B)Notes: 1. The figures were calculated based on provisions in Articles 86 and 87 of the Ordinance for Enforcement of the Insurance Business Act of Japanand the Ministry of Finance Public Notice No. 50 of 1996.
2. Minimum guarantee risk was calculated based on the standardized approach.

10(Reference)Consolidated Solvency Margin Ratio
Although Sony Life is not required to prepare consolidated financial statements since it does not have consolidated subsidiaries,
Sony Life discloses consolidated solvency margin ratio consolidated with it's affiliated companies quarterly.
(Millions of yen)

Category

As of March 31, 2013

Total solvency margin

As of December 31, 2013

855,444942,265

Common stock, etc.

247,803

276,471

Reserve for price fluctuations

32,26438,814

Contingency reserve

59,56162,499Catastrophe reserve－－

General reserve for possible loan losses

00114,602109,453(2,012)(1,386)

Unallocated portion of reserve for policyholders' dividends

464

1,771

Amount excluded from deferred tax assets－－

Deferred tax assets

70,604

83,948

Excess amount of policy reserves based on Zillmer method

372,561

393,454－－

The portion of the excess amount if policy reserves based on Zillmer
method and subordinated debt that is not included in the margin(32,467)(13,897)

Deductible items(7,938)(8,864)73,071

76,262

21,871

22,399(A)

Net unrealized gains on other securities multiplied by 90% (100% if
losses)Net unrealized gains on real estate multiplied by 85% (100% if
losses)Subordinated debt

(B)

Total risk
Insurance risk

R1

Ordinary insurance risk

R5

－

－

Major Catastrophe risk

R6

－

－

Third-sector insurance risk

R8

8,307

8,409

－

－

Insurance risk of small-amount short-term insurance providers

R9

Assumed interest rate risk

R2

29,05429,479Minimum guarantee risk

R711,474

12,659Asset management risk

R323,93425,465Business management risk

R4

1,892

1,968

x 100

2,341.3%

2,471.1%

Solvency margin ratio(A)(1/2) x (B)Notes: 1. The figures were calculated based on provisions in Articles 86-2 and 88 of the Ordinance for
Enforcement of the Insurance Business Act of Japan and Public Notice of Financial Services Agency No. 23 of 2011.
2. Minimum guarantee risk was calculated based on the standardized approach.

11

7. Status of Separate Account Assets(1) Balance of Separate Account Assets(Millions of yen)

Category

As of March 31, 2013

As of December 31, 2013

550,624

Individual variable life insurance and individual variable annuities

651,095-

Group annuities-

550,624

Total separate account651,095

Note: Assets relating to individual variable life insurance and individual variable annuities are jointly invested at Sony Life.

(2) Policy Amount in Force (Separate Account)(Number: Thousand, Amount: Millions of yen)

Individual variable life insurance
As of March 31, 2013

Category

NumberAs of December 31, 2013

AmountNumberAmountVariable life insurance (whole life type)577

7,113,036

599

7,261,407

Variable life insurance (limited term type)43

146,77845

158,384

Variable life insurance (term type)1

46,8101

46,759622

7,306,626

647

7,466,551

Total
Note: Amounts include the rider portion of variable life insurance.

Individual variable annuities(Number: Thousand, Amount: Millions of yen)

As of March 31, 2013

Category

NumberIndividual variable annuities

As of December 31, 2013

Amount27

146,759

NumberAmount29

154,010

Note: The amount of individual variable annuities is equal to the sum of (a) the funds to be held at the time annuity payments are to commence for policies for which annuity
payments have not yet commenced and (b) the amount of policy reserves for policies for which payments have commenced.

8. Consolidated Summary
Not applicable

12(Reference) Holdings of Securitized Papers and Other Sub-prime Related Investments
Sony Life’s holdings of securitized papers and other sub-prime related investments as of December 31, 2013, are as follows.
Sony Life holds no sub-prime related investments.
(1) Special-purpose entities (SPEs)
Fair value
－
－
－
－
－
－
－

Special purpose entities (SPEs)
ABCP
facilitated by Sony Life
SIV
facilitated by Sony Life
Othersfacilitated by Sony Life(100 millions of yen)
Unrealized
Realized gains
gains (losses)(losses)
－
－
－
－
－
－
－
－
－
－
－
－
－
－

(2) Collateralized debt obligations (CDO)
Fair value
－
－
－
－
－
－
－
－
－
－
－
－
－
－
－
－
－
－
－
－

Collateralized debt obligations (CDO)
ABS
CDO
Seniorsub-prime (Alt-A exposure)
Mezzanine
sub-prime (Alt-A exposure)
Equitysub-prime (Alt-A exposure)
CLO

SeniorMezzanine
EquityCBO

SeniorMezzanine
EquityOthersSeniorMezzanine
Equity(100 millions of yen)
Unrealized
Realized gains
gains (losses)(losses)
－
－
－
－
－
－
－
－
－
－
－
－
－
－
－
－
－
－
－
－
－
－
－
－
－
－
－
－
－
－
－
－
－
－
－
－
－
－
－
－

(3) Other sub-prime (Alt-A exposure)
Fair value
－
－
－
－
－
－

Other sub-prime (Alt-A exposure)Non-securitized loans
RMBS
Derivatives
Commitment line
Others13

Unrealized
gains (losses)
－
－
－
－
－
－

(100 millions of yen)
Realized gains(losses)
－
－
－
－
－
－

(4) Commercial mortgage-backed securities (CMBS)
Fair value
As of March 31, 2013

Commercial mortgage-backed securities (CMBS)
Japan
USA
EU
UK
Others

－
－
－
－
－
－

－
－
－
－
－
－

Unrealized
gains (losses)
－
－
－
－
－
－

(100 millions of yen)
Realized gains(losses)
－
－
－
－
－
－

Unrealized
gains (losses)
－
－
－
－
－
－

(100 millions of yen)
Realized gains(losses)
－
－
－
－
－
－

(5) Leveraged financeFair value
As of March 31, 2013

Leveraged financeTelecommunications
Electronics
Entertainment
Services
Others

－
－
－
－
－
－

－
－
－
－
－
－

(6) Other notes
Sony Life holds principal protected 30 year notes with Nikkei 225 index-linked coupons (fair market value of ¥58.0 billion andunrealized gains of ¥14.3 billion as of December 31, 2013). These amounts are included in net unrealized gains on other securities,(before taxes) of Sony Life as of December 31, 2013.

14