November 14, 2016
Sony Financial Holdings Inc.

Sony Life's Supplementary Data for the Six Months Ended September 30, 2016 at Press Conference(1) Status of Insurance Policies(Millions of yen)
For the six months ended September 30, 2016
% change fromMarch 31, 2016

% YoY change

For the year ended
March 31, 2016

For thesix months ended
September 30, 2015
43,053

Annualized premiums from new policies

38,759-(10.0%)

85,018

Of which third-sector products

8,101-

9.7%

15,717

7,383

799,681

2.4%

5.3%

781,315759,136

Of which third-sector products

184,0552.4%

4.5%

179,707

176,122

Income from insurance premiums

477,426-(6.2%)

1,028,048

508,798473,747-(6.3%)

1,021,057

505,844

2,838

-

13.5%

5,350

2,500

New policy amount

2,449,029-(6.3%)

5,151,395

2,615,026

Policy amount in force

44,114,486

2.2%

4.7%

43,149,831

42,143,015

922,587-(3.0%)

1,931,440

951,5252.14-

0.19ppt down

4.72

Annualized premiums of insurance in force

Individual life insurance and annuities
Group insurance and annuities

Lapse and surrender amount
Lapse and surrender rate (Policy amount basis) (%)

2.33

Lapse and surrender annualized premiums-----

Lapse and surrender rate (Annualized premiums basis) (%)-----

Notes:
1. The above figures excluding income from insurance premiums represent total amounts of individual life insurance and individual annuities.
2. Lapse and surrender amount 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 and individual annuities.
Income from insurance premiums for the group life insurance and annuities represents a total amount of those of group 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 payment policies, premiums are divided by the number of coverage years.)(2) Status of Assets
As of September 30, 2016
% change fromMarch 31, 2016
Total assets
Real net assets (A)Real net assets (A) / General account assets
Real net assets (B)As ofMarch 31, 2016

% change from
September 30, 2015

As of
September 30, 2015

(Millions of yen)

8,365,201

4.1%

7.8%

8,035,408

7,758,892(100 millions of yen)

33,904

5.2%

83.2%

32,241

18,508%45.2

0.3ppt up

18.6ppt up

44.9

26.6

(100 millions of yen)

11,757

1.7%

10.0%

11,566

10,685

Real net assets (B) / General account assets

%

15.7

0.4ppt down

0.4ppt up

16.1

15.3

Solvency margin ratio%

2,774.4

51.6ppt up

116.7ppt up

2,722.8

2,657.7

Notes:
1. 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 measure includes the market valueof 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
2. Figures indicate percentage changes from March 31, 2016, and September 30, 2015. (Percentage point changes are given for real net assets /general account assets, and solvency margin ratio)(3) Core Profit / Positive Spread(Millions of yen)
For the six months ended September 30, 2016
% change fromMarch 31, 2016

Core profit

30,687% YoY change-For the year ended
March 31, 2016

For thesix months ended
September 30, 2015

43,01914,460112.2%(100 millions of yen)
For the year ended
March 31, 2016

Forecast for theyear ending March 31, 2017
Decrease (positive spread)

Positive spread (Negative amount indicates negative spread)

153(4) Policy and Other Reserves(Millions of yen)
As of September 30, 2016
Amount change from Amount change fromMarch 31, 2016
September 30, 2016

Policy reserves (excluding contingency reserve)

As ofMarch 31, 2016

As of
September 30, 2015

7,502,012

240,646

560,370

7,261,366

6,941,642

General accounts (excluding contingency reserve)

6,660,493

237,744505,269

6,422,748

6,155,223

Separate accounts (excluding contingency reserve)

841,519

2,901

55,100838,617

786,418

Reserve for price fluctuations

45,040780

1,516

44,26043,523

Contingency reserve

78,637

3,471

6,751

75,166

71,885

Contingency reserve I

23,437471

845

22,966

22,592

Contingency reserve II

19,448367

838

19,08018,609Contingency reserve III

29,101

2,556

4,903

26,54424,197

Contingency reserve IV

6,650

76

164

6,574

6,486

Contingency reserve fund

----

-

Price fluctuations reserve fund

-----

1

(5) Unrealized Gains (Losses)(Millions of yen)
As of September 30, 2016
Amount change from Amount change fromMarch 31, 2016
September 30, 2015

Securities
Japanese stocks
Japanese government and corporate bonds
Foreign securities
Real estate

As ofMarch 31, 2016

As of
September 30, 2015

2,412,246

141,081

1,472,993

2,271,165

10,956(1,082)(1,360)12,039939,253
12,316

2,388,719

143,881

1,473,434

2,244,838

915,285

12,436(1,709)900

14,146

11,535

56,115925

6,729

55,19049,386

Notes:
1. Net unrealized gains (losses) on securities are calculated as the difference between the carrying value before mark-to-market and the fair market value for policy reserve matching bonds and securities with market value,other than trading-purpose securities. (The amount includes “monetary trusts,” but excludes trading-purpose securities.)
2. Real estate is for domestic real estate, including land lease right, and the amount is a level after revaluation.
(6) Investment Results and Plans(Millions of yen)
Result for the first halfof the fiscal year
ending March 31,
2017

Plan for the second half of the fiscal year
ending March 31, 2017

26,060Flat

9,068,698

Increase

Foreign stocks13,883

Increase

Foreign bonds

176,567

Increase

Real estate

167,960

Flat

Japanese stocks
Japanese government and corporate bonds(7) Level of Indices where Unrealized Gains (Losses) on Assets are Break-even
As ofSeptember 30, 2016
Japanese stocks (NIKKEI Average)

(yen)

8,182

Japanese stocks (TOPIX)

(ppt)

657

Japanese government and corporate bonds

(%)

1.7

Foreign securities

(yen)

88

Notes:
1. Japanese stocks are fully linked to the Nikkei 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, 2017
Forecast
Income from insurance premiums

Decrease

Core profit

Increase

Policy amount in force

Increase

Annualized premiums for policies in force

Increase(9) Cross Holdings with Domestic Banksi) Contributions from Domestic Banks
As ofSeptember 30, 2016
Foundation (Stocks) funds

Not applicable

Subordinated loans and bonds

Not applicable

Note: Stocks on contributions from domestic banks are at market value as of September 30, 2016.
ii) Contributions to Domestic Banks
As of
September 30, 2016
Bank Stocks (market value basis)

Not applicable

Subordinated loans, bonds and preferred securities

Not applicable

Notes:
1. Contributions extended to banks other than those who held the company's foundation funds are included.
2. Stocks includes preferred stocks. (Investment in foreign subsidiaries are not included.)(10) Number of Employees
As of September 30, 2016
% change fromMarch 31, 2016

% change from
September 30, 2015

As ofMarch 31, 2016

As of
September 30, 2015

Sales employees

5,358

3.2%

8.3%5,193

4,948

Office employees

2,233

6.5%

10.1%

2,096

2,0282

(11) Over-the-counter Sales through Banks(Millions of yen)
For the six months ended September 30, 2016
% change from
September 30, 2015

Variable annuities

Fixed annuities

For thesix months ended
September 30, 2015

For the year ended
March 31, 2016

Number of new policies

1--

Insurance premiums0---

Number of new policies

7(56.3%)34

16

Insurance premiums

456.1%

42-

Note: Insurance premiums refer to single premium amount for single payment policies, and a figure converted to a per-year premium for other policies.
(Millions of yen)
For the six months ended September 30, 2016

For thesix months ended
September 30, 2015

For the year ended
March 31, 2016

% change from
September 30, 2015
Single premium whole life
insurance

Number of new policies

6-84

Insurance premiums

34-

405

-

Single premium endowment
insurance

Number of new policies----

Insurance premiums----

Note: Insurance premiums refer to single premium amount for single payment policies, and a figure converted to a per-year premium for other policies.
(Millions of yen)
For the six months ended September 30, 2016
% change from
September 30, 2015

For the year ended
March 31, 2016

For thesix months ended
September 30, 201516

Single premium
life insurance

Number of new policies--

18

Insurance premiums

--

74

69

Level premium plan
life insurance

Number of new policies

267

14.6%

510

233

Insurance premiums

76

0.3%

145

75

Notes:
1. Insurance premiums refer to single premium amount for single payment policies, and a figure converted to a per-year premium for other policie
2. Number of new policies for the six months ended September 30, 2016 includes product such as Living benefit whole life insurance (living standard type),
Family income insurance with Living standard rider, Variable life insurance (whole life type).

3Attachment
Other Supplementary Data (for the Six Months Ended September 30, 2016)
Provision of policy reserve of the general account assets for minimum guarantee for variable annuities and others(100 millions of yen)

Provision for policy reserve of the general account assets for minimum guarantee forvariable annuities and others

4For the six months
ended September 30,
2016

For the year ended
March 31, 2016

For the six months
ended September 30,
2015116347221