May 16, 2016
Sony Financial Holdings

Sony Life's Supplementary Data for the Year Ended March 31, 2016at Press Conference(1) Status of Insurance Policies(Millions of yen)
Year endedMarch 31,2015

Annualized premiums from new76,612
policies
Of which, third-sector products
15,285
Annualized premiums of insurance in735,728
force
Of which, third-sector products
172,800
Income from insurance premiums
914,034
Of which, Individual life insurance
906,360
and annuities
Of which, Group insurance and6,136
annuities
New policy amount
4,771,626
Policy amount in force
40,988,700
The amounts of cancellations and2,088,462
lapses
Lapse and surrender rate%
5.35

% YoY
changeSix months
ended
September 30,
2015

% YoY
changeYear ended
March 31,
2016

% YoY
change19.7%

43,05318.9%

85,018

11.0%

13.3%

7,383

12.0%

15,7172.8%

5.6%

759,136

6.1%

781,315

6.2%

3.4%(4.9%)

176,122508,798

3.7%
179,70712.1% 1,028,048

4.0%
12.5%

(4.8%)

505,844

12.4% 1,021,057

12.7%(14.6%)

2,500(26.6%)

5,350(12.8%)

22.7% 2,615,026
4.8% 42,143,015

22.9% 5,151,395
5.5% 43,149,831

8.0%
5.3%

20.1%

951,525

10.3% 1,931,440(7.5%)

0.74ppt up

2.33

0.12ppt up

4.72 0.63ppt down

Notes:
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 individuallife 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, 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 lump-sum
payment policies, premiums are divided by the number of coverage years.)(2) Status of Assets
As ofMarch 31,
2015

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

7,301,350
18,830% YoYchangeAs ofSeptember
30, 2015

10.2% 7,758,892
39.9%
18,508% YoYchangeAs ofMarch 31,
201611.5% 8,035,408
23.4%
32,241% YoYchange

10.1%
71.2%

28.9

6.4ppt up

26.6

2.6ppt up

44.9

16.0ppt up

10,435

13.9%

10,685

9.4%

11,566

10.8%

16.0

0.7ppt up

15.3 0.3ppt down

16.1

0.1ppt up

2,555.0 196.3ppt up

2,657.7 147.3ppt up

2,722.8 167.8ppt up

Note: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 thestandpoint 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 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
March 31,2015
76,505

Year ended
March 31,2016
5.7%
43,019Positive spreadYear ended
Year ended
March 31, YoY amount March 31, YoY amountchangechange
2015
2016
13046
153
23% YoYchange% YoYchange(43.8%)

Forecast for
the year ending
March 31, 2017
Increase(100 millions of yen)

(%)

2.35

2.31

Forecast for
the year ending
March 31, 2017
Decrease

(%)

2.36

2.36

Decrease(%)

2.122.06

Decrease

Year ended
March 31, 2015
Investment yield for core profit
Investment yield(General account)
Average assumed interest rate

Forecast for
the year ending
March 31, 2017
Decrease

Year ended
March 31, 2016(4) Policy and Other Reserves(Millions of yen)
As of
As of
As of
YoY
amountYoY
amountSeptemberMarch 31,
March 31, YoY amountchangechangechange30, 2015
2015
2016

Policy reserves(excluding contingency reserve)

6,658,533

598,571

6,941,642

594,347

7,261,366

602,833

General accounts(excluding contingency reserve)

5,877,276

448,791

6,155,223499,282

6,422,748

545,472

Separate accounts(excluding contingency reserve)781,256

149,779

786,418

95,064

838,61757,36142,84568,70722,154
18,031
22,144
6,376

1,288
5,035
754
902
3,205
174

43,52371,885
22,592
18,60924,197
6,486

1,348
5,758
701
1,135
3,728
192

44,26075,16622,966
19,08026,544
6,574

1,415
6,458
811
1,049
4,400
198

Reserve for price fluctuations
Contingency reserve
Contingency reserve I
Contingency reserve II
Contingency reserve III
Contingency reserve IV
Contingency reserve fundPrice fluctuations reserve fund------(5) Unrealized Gains (Losses)(Millions of yen)
As of
As of
As ofMarch 31, YoY amount September YoY amount March 31, YoY amountchangechangechange
2015
2016
30, 2015

Securities
Japanese stocks
JGBs, other bonds
Foreign securities
Real estate

1,008,341
16,075961,259
30,68048,487453,6367,106
432,954
14,30830,511

939,253
12,316915,285
11,53549,386272,963762
282,188(9,494)
14,7402,271,165 1,262,823
12,039(4,036)2,244,838 1,283,578
14,146(16,534)
55,1906,703

Notes:
1. Net unrealized gains (losses) on securities is the total of 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. Net unrealized gains (losses) on real estate are directed to domestic real estate, including land lease right, and theamount is the level after revaluation.

2(6) Results and Plans of Investment(Millions of yen)
Year ended
March 31,2016

Japanese stocks
JGBs, other bonds
Foreign stocks
Foreign bonds
Real estate

YoY
amountchange

Plan forthe year ending
March 31, 2017
Flat
Increase
Flat
IncreaseFlat

27,104(3,054)8,690,753 1,954,170
17,652(4,538)78,844(50,431)
167,960
4,920(7) Level of Indices where Unrealized Gains (Losses) on Assets are Break-even
As ofMarch 31, 2016
Japanese stocks
(yen)
7,751
(The Nikkei Stock Average）
Japanese stocks (TOPIX)
JGBs, other bonds
Foreign securities

(ppt)
(%)
(yen)

623
1.683

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, 2017
Forecast
Income from insurance premiums
Increase
Annualized premiums from insurance
in force

Increase

Policy amount in force

Increase(9) Cross Holdings with Domestic Banksi) Contributions from Domestic Banks
Foundation (Stocks)
Subordinated loans and bonds

AmountNot applicableNot applicable

Note: Stocks on contributions from domestic banks are at market value as of March 31, 2016.

ii) Contributions to Domestic Banks
Bank Stocks (market value)
Subordinated loans, bonds and preferred securities

AmountNot applicableNot applicable

Notes:
1. Stocks includes preferred stocks. (Investment in foreign subsidiaries are not included.)
2. Contributions extended to banks other than those who held the company's foundation funds are included.

(10) Number of Employees
As ofMarch 31,
2015
Sales employees
Office employees

4,857
1,924

% YoY
change
2.5%
5.9%

3

As ofSeptember
30, 2015
4,948
2,028

% YoY
change
3.9%
9.1%

As of
March 31,
2016
5,193
2,096

% YoY
change
6.9%
8.9%

(11) Dividends to policyholders (Provision of reserve for dividends to policyholders)(Millions of yen)
Year ended
March 31,2015

Individual life insurance and individual
annuities
Group life insuramcGroup annuities
Total

Year ended
March 31,
2016

% YoY
change147-16814.1%

2,015(10)2,153(7.5%)(3.5%)

3,326
70
3,564

65.0%

(12) Over-the-counter Sales through Banks

Fixed annuities

Number of new policies
Insurance premiums
Number of new policies
Insurance premiums

65.5%(Millions of yen)
Year ended
March 31,
2015

Variable annuities% YoYchange1461

Year ended
March 31,
2016

% YoY
change(66.7%)
37.2%(88.9%)(89.1%)% YoYchange344466.7%
211.4%

Notes:
1. Figures on the above table excludes operating performance of AEGON Sony Life Insurance Co., Ltd.
2. Insurance premiums refer to lump-sum premium amount for lump-sum payment policies, and a figure converted toa per-year premium for other policies.

(Millions of yen)
Year ended
March 31,2015

Lump-sum premium
whole life insuranceLump-sum premium
endowment insurance

Number of new policies
Insurance premiums
Number of new policies
Insurance premiums

85465

% YoY
change(73.3%)(74.8%)

Year ended
March 31,
2016

% YoY
change84405--Note: Insurance premiums refer to lump-sum premium amount for lump-sum payment policies, and a figure converted
to a per-year premium for other policies.

(Millions of yen)
Year ended
March 31,2015

Lump-sum premium life
insurance
Level premium plan life
insurance

Number of new policies
Insurance premiums
Number of new policies
Insurance premiums

51276
753
307

% YoY
change(48.0%)(56.3%)(43.5%)(42.1%)

Year ended
March 31,2016

1874510145

Notes:
1. Insurance premiums refer to lump-sum premium amount for lump-sum payment policies, and a figure converted
to a per-year premium for other policies.
2. Number of new policies for the year ended March 31, 2016 includes Variable life insurance (whole life type),
Living benefit whole life insurance (living standard type), Semi-participating educational endowment insurance, etc.

4% YoYchange(64.7%)(73.2%)(32.3%)(52.6%)

Attachment

Sony Life's Supplementary Datafor the Year Ended March 31, 2016 at Press Conference
Other Supplementary Data (for the Year Ended March 31, 2016)
Provision (reversal) of policy reserve of the general account assets for minimum guarantee for variableannuities and others(100 millions of yen)
Year ended
March 31, 2015

Six months ended
September 30, 2015

Year ended
March 31, 2016

106221347

Provision (reversal) of policy reserve of the generalaccount assets for minimum guarantee for variableannuities and others*Reversal of policy reserves is shown as a minus figure.

5