ＤＤNEWSRELEASE

May 11, 2023
Ryosuke Mori, President
LIFENET INSURANCE COMPANY(Securities Code: 7157, TSE Growth)

Announcement of IFRS-based Consolidated BusinessForecasts for Fiscal 2023 Ending March 31, 2024
TOKYO, May 11, 2023 - LIFENET INSURANCE COMPANY (TSE Growth 7157, President
Ryosuke Mori, URL: https://ir.lifenet-seimei.co.jp/en/, hereinafter, “the Company”) announcesthat the business forecasts for fiscal 2023 ending March 31, 2024 are prepared based on
International Financial Reporting Standards (hereinafter, “IFRS”) due to voluntary adoption ofIFRS for its consolidated financial statements from the first quarter of fiscal 2023 ending March31, 2024.
The consolidated business forecasts for fiscal 2023 ending March 31, 2024 are as follows. The
Company discloses insurance revenue, insurance service results and net income attributable toowners of parent based on IFRS in addition to annualized premium of policies-in-force forindividual insurance and group credit life insurance combined. Please note that the IFRS-based
business results for fiscal 2022 ended March 31, 2023, in which Japanese GAAP was applied,
are unaudited and disclosed for reference purposes.
1. Fiscal 2023 ending March 31, 2024 Consolidated Business Forecasts (April 1, 2023 toMarch 31, 2024)(In millions of yen)
Annualized
premium ofpolicies-in-force*1

Business forecasts
for fiscal 2023*2

Insurance
revenue

Insuranceservice results

Net income
attributable toowners ofparent28,50024,900

8,200

5,300

24,033

20,732

6,618

3,575

18.6%

20.1%

23.9%

48.3%

(Reference)
Business results
for fiscal 2022*3
Change*1 Annualized premium is the amount of money equivalent to what is to be paid to have the insurance coverage forone year. All payments for Lifenet products are in monthly installments, we calculate annualized premium as
multiplying the monthly premium by 12 months.
*2. The business forecasts for fiscal 2023 include the impact of group credit life insurance business which starts in July
2023 (planned).
*3. Insurance revenue, insurance service results and net income attributable to owners of parent are accounts basedon IFRS and unaudited. Insurance service results and net income attributable to owners of parent for fiscal 2022
included the impact of the COVID-19 claims (1,378 million yen).

Copyright© LIFENET INSURANCE COMPANY All rights reserved.

1ＤＤNEWSRELEASE(Reference) Breakdown of business forecasts for annualized premium of policies-in-force(In millions of yen)
IndividualInsuranceGroup Credit
Life Insurance

Total

Business forecasts
for fiscal 2023

25,9002,600

28,500(Reference)
Business results
for fiscal 2022

24,033-24,033

Change7.8%-18.6%

2. Overview of the Business Forecasts
The Company will promote initiatives in the priority areas of “innovation of customerexperience” and “enhancement of promotion capabilities” to achieve the management goal of
200 billion yen in EEV (European Embedded Value) in a mid-term. In fiscal 2023, we willexpand business domains and start providing group credit life insurance, aiming for sustainablegrowth in in-force business. To that end, during the current fiscal year, the Company will invest
in marketing for new business, services related to improving customer experience, and our newbusiness, group credit life insurance business as well as initiatives with partner companies.
Regarding the payment related to COVID-19, at this time, the Company expects the impact infiscal 2023 to be very limited compared to the amount of the payment (1,378 million yen) in
fiscal 2022.
Accordingly, the Company is forecasting annualized premium of policies-in-force for individual
insurance and group credit life insurance combined of 28,500 million yen, insurance revenue of
24,900 million yen, insurance service results of 8,200 million yen and net income attributable toowners of parent of 5,300 million yen. The annualized premium of policies-in-force is expected
to be 25,900 million yen for individual insurance and 2,600 million yen for group credit life
insurance.
By investing for growth with the aim of improving corporate value over the mid-term, theCompany aims to achieve sustainable growth in in-force business and 10% continuous growth
in insurance service results.
(Reference)
The Company held the study meetings on IFRS 17 “Insurance Contract” in fiscal 2022. For
details, please refer to “Material for IFRS 17 Study Meeting” on the Investor Relations website.
Material for IFRS 17 Study Meeting https://ir.lifenet-seimei.co.jp/en/library/material.html
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
and services directly to customers over the Internet. We aim to be the leading company driving
the growth of the online life insurance market.
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 for readers' convenience. In case of any discrepancy or dispute, the Japanese document prevails.

Copyright© LIFENET INSURANCE COMPANY All rights reserved.

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