May 14, 2018
Sony Financial Holdings Inc.

Sony Life's Supplementary Data for the Year Ended March 31, 2018at Press Conference(1) Status of Insurance Policies(Millions of yen)
Year ended
March 31, 2017

Annualized premiums from newpolicies
Of which, third-sector products
Annualized premiums of insurance inforce
Third-sector products
Income from insurance premiums
Individual life insurance andannuities
Group insurance and annuities
New policy amount
Policy amount in force
The amounts of cancellations andlapses
Lapse and surrender rate%

YoY change

Six months ended
September 30, 2017

YoY changeYear ended
March 31, 2018

YoY change

78,127(8.1%)

32,391(16.4%)

73,073(6.5%)

15,718

0.0%

5,991

(26.0%)

12,984(17.4%)

820,856

5.1%

833,509

4.2%

848,823

3.4%

187,449
956,733

4.3%(6.9%)

189,603
480,4913.0%
0.6%

191,895
1,059,269

2.4%
10.7%

947,987(7.2%)

476,351

0.5%

1,050,339

10.8%

6,041

12.9%

3,107

9.4%

6,386

5.7%

4,957,505(3.8%)

2,230,727(8.9%)

5,287,977

6.7%

45,334,192

5.1%

46,219,136

4.8%

47,253,441

4.2%

1,839,385(4.8%)

873,448(5.3%)

2,250,823

22.4%

4.27(0.45pt)

1.93(0.21pt)

4.97

0.70ptNotes:
1. The above figures excluding income from insurance premiums represent total amounts of individual life insurance and individual annuities.
2. The amounts of cancellations and lapses as well as lapse and surrender rate do not include reinstatement.
3. Income from insurance premiums for the individual life insurance and annuities represents a total amount of those of individual life insurance andindividual annuities. Income from insurance premiums for the group life insurance and annuities represents a total amount of those ofgroup life insurance and group annuities.
4. Annualized premiums, which include individual life insurance and individual annuities, are converted to a per-year premium amount by multiplying
individual premiums by a coefficient corresponding to the premium payment method. (For single premium policies, premiums are divided
by the number of coverage years.)(2) Status of Assets
As ofMarch 31, 2017

Total assets (Millions of yen)
Real net asset A (100 millions of yen)
Real net asset B (100 millions of yen)
Solvency margin ratio%

8,873,613
26,56911,8532,568.8

YoY change
10.4%(17.6%)
2.5%(154.0pt)

As ofSeptember 30,
2017

9,208,334
26,122
12,036
2,631.8

YoY change
10.1%(23.0%)
2.4%(142.6pt)

As ofMarch 31, 2018

9,567,689
28,597
12,422
2,624.3

YoY change
7.8%
7.6%
4.8%
55.5ptNote:
Sony Life conducts overall asset-liability management (ALM) by determining the liability characteristics of its long-term insurance policies and marking to market both assets
and liabilities. Consequently, the Company invests in long-term debt, chiefly long-term government bonds, to ensure adequate liquidity of assets. The majority of holdings are
categorized as held-to-maturity bonds. “Real net assets” are a standard used by regulatory authorities, who may use this as a basis for issuing an order to suspend operations
from the standpoint of management soundness. Real net assets (indicated as “Real net assets (A)”) do not adequately reflect the results of ALM because although this measureincludes the market value of assets, including held-to-maturity bonds, it does not reflect the market value of liabilities. If regulatory authorities were to appropriately reflect
ALM activities, valuation would clearly exclude net unrealized gains (losses) on held-to-maturity bonds and policy reserve matching bonds. Accordingly, Sony Life calculates
net real assets (shown as “Real net assets (B)”) on this basis.

1(3) Core Profit / Positive Spread / Yields(Millions of yen)Core profit

Year ended
Year ended
March 31, YoY change March 31, YoY change2017
2018
83,831
94.9%
81,384(2.9%)

Positive spreadYear ended
Year ended
YoYamount
March 31, YoY amountMarch 31,changechange2018
20171541177
23

Forecast for
the year ending
March 31, 2019
decrease(100 millions of yen)

(%)

2.24

2.22

Forecast for
the year ending
March 31, 2019
down

(%)

1.81

1.63up

(%)

2.00

1.97

down

Year ended
March 31, 2017
Investment yield for core profit
Investment yield(General account)
Average assumed interest rate

Forecast for
the year ending
March 31, 2019
decrease

Year ended
March 31, 2018(4) Policy and Other Reserves(Millions of yen)
As ofMarch 31, YoY amountchange2017

As ofSeptember
30, 2017

YoY amountchange7,847,480

586,1148,160,498

658,4858,476,160

628,679

General accounts(excluding contingency reserve)

6,876,127

453,378

7,097,531

437,037

7,369,232

493,105

Separate accounts(excluding contingency reserve)971,353

132,735

1,062,967

221,447

1,106,927

135,574

Reserve for price fluctuations

46,005

1,744

46,9091,868

47,9291,924

Contingency reserve
Contingency reserve fund82,463

7,296

86,076

7,439

89,9157,451－－－－－－－－－－－－Policy reserves(excluding contingency reserve)

Price fluctuations reserve fund(5) Unrealized Gains (Losses)

As ofMarch 31, YoY amountchange2017
Securities

As of
September
30, 2017

As ofMarch 31, YoY amountchange
2018(Millions of yen)
As of
YoY amount March 31, YoY amountchangechange2018

1,644,961(626,204)

1,583,729(828,516)

1,786,723

141,761

13,396

1,357

16,143

5,186

16,982

3,585

Japanese bonds (including JGBs)

1,653,185(591,652)

1,576,684(812,035)

1,788,148

134,963

Foreign securities(21,768)(35,914)(9,206)(21,643)(18,528)

3,240

69,664

14,47470,562

14,446

68,400(1,264)

Japanese stocks

Real estate

Notes:
1. Net unrealized gains (losses) on securities are calculated as the difference between the carrying value before mark-to-market and the fairmarket value for held-to-maturity securities and policy reserve matching bonds and net unrealized gains (losses) on other securities, net of taxes,
other than trading-purpose securities (The amount includes “monetary trusts”, but excludes trading-purpose securities) .
2. Real estate is directed to domestic real estate, including land lease right, and the amount is the level after revaluation.

2(6) Results and Plans of Investment(Millions of yen)
Year ended
March 31, YoY amountchange
2018Japanese stocks
Japanese bonds (including JGBs)

31,114

1,503

9,185,284

589,761

Foreign stocks, etc.

23,149(1,804)Foreign bonds

350,998

97,581

Real estate

154,470(26,460)(7) Level of Indices where Unrealized Gains (Losses) on Assets are Break-even
As ofMarch 31, 2018
Japanese stocks(The Nikkei Stock Average）

(yen)

7,513

Japanese stocks (TOPIX)

(pt)

601

Japanese bonds (including JGBs)(%)

1.7Foreign securities

(yen)

105

Notes:
1. Japanese stocks are fully linked to the Nikkei stock Average and TOPIX, and valuations are calculated accordingly.
2. Japanese bonds calculations employ yields on newly issued 10-year JGBs, to one decimal place.
3. Calculations of foreign securities employ US dollar/yen conversions.

(8) Forecast for the Year Ending March 31, 2019
Income from insurance premiums

Forecastincrease

Annualized premiums from insurance in force

increase

Policy amount in forceincrease(Persons)(9) Number of Employees
As ofMarch 31,
2017

As ofSeptember
YoY change
YoY change
30, 2017

As ofMarch 31,
2018

YoY change

Sales employees

5,585

7.5%

5,645

5.4%

5,826

4.3%

Office employees

2,280

8.8%

2,359

5.6%

2,420

6.1%

3

(10) Dividends to Policyholders (Provision of Reserve for Dividends to Policyholders)(Millions of yen)
Year ended
Year ended
March 31,
March 31,
YoY change
2017
2018

Individual life insurance and individualannuities
Group life insurance

174

3.6%

177

1.8%

3,904

17.4%3,090(20.9%)

73

5.1%

3(94.9%)

4,153

16.5%

3,271(21.2%)

Group annuities
Total(11) Over-the-counter Sales through Banks(Millions of yen)
Year ended
Year ended
March 31,
March 31,
YoY change
2017
2018

Variable annuities
Fixed annuities

YoY change

YoY change

Number of new policies

1－

1

0.0%

Insurance premiums

0－(55.5%)

Number of new policies

7(79.4%)0－

Insurance premiums

4(4.1%)－－－Notes:
1. Figures on the above table excludes operating performance of AEGON Sony Life Insurance Co., Ltd.
2. Insurance premiums refer to single premium amount for single premium policies, and a figure converted to a per-year premiumfor other policies.

(Millions of yen)
Year ended
March 31,
YoY change
2017Year ended
March 31,2018

YoY change

Single premium
whole life insurance

Number of new policies

6(92.9%)－－Insurance premiums

34(91.6%)－－

Single premium
endowment insurance

Number of new policies

－－

－

－

Insurance premiums

－－

－

－

Note: Insurance premiums refer to single premium amount for single premium policies, and a figure converted to a per-year premiumfor other policies.

(Millions of yen)

Single premium life insurance
Level premium plan life
insuranceYear ended
March 31,
YoY change
2017Year ended
March 31,2018

YoY change

Number of new policies－－－－

Insurance premiums

－－－－

424
106

(16.9%)

264
93(37.7%)

Number of new policies
Insurance premiums(27.1%)(12.4%)

Notes:
1. Insurance premiums refer to single premium amount for single premium policies, and a figure converted to a per-year premiumfor other policies.
2. Number of new policies for the year ended March 31, 2018 includes product such as family income insurance with living standard
standard rider, U.S. dollar-denominated whole life insurance and living benefit whole life insurance (living standard type).

4