November 14, 2014
Sony Financial Holdings Inc.

Sony Life's Supplementary Data for the Six Months Ended September 30, 2014 at Press Conference(1) Status of Insurance Policies(Millions of yen)

For the six months ended September 30, 2014
% change fromMarch 31, 2014
Annualized premiums from new policies
Of which third-sector products
Annualized premiums of insurance in force
Of which third-sector products
Income from insurance premiums
Individual life insurance and annuities
Group insurance and annuities
New policy amount
Policy amount in force
Lapse and surrender amount
Lapse and surrender rate (%)

36,216
6,590
715,427
169,757
454,032
449,855
3,408
2,127,398
39,952,703
862,592
2.21% YoY change

2.6%
1.6%
2.2%
-For the year ended
March 31, 2014

20.0%
(5.1%)
5.0%
2.9%
3.7%
3.6%
(3.4%)
13.5%
4.2%(1.6%)
0.11 ppt down

63,992
13,486
696,986
167,075
960,986
952,478
7,181
3,889,379
39,095,004
1,739,487
4.61

For thesix months ended
September 30, 2013
30,168
6,941
681,498
165,048437,980
434,103
3,528
1,874,839
38,357,137
876,422
2.32

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 acoefficient 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 of September 30, 2014
% change fromMarch 31, 2014

% change from
September 30, 2013

As ofMarch 31, 2014

As ofSeptember 30, 2013

(Millions of yen)
Total assets
6,959,132
5.0%
11.4%
6,624,903
6,247,480(100 millions of yen)
Real net assets(A)15,001
11.4%
17.0%
13,464
12,824
Real net assets(A) / General account assets%
24.0
1.5 ppt up
1.3 ppt up
22.5
22.7
(100 millions of yen)
Real net assets(B)
9,769
6.6%
13.2%
9,161
8,634
Real net assets (B) / General account assets%
15.6
0.3 ppt up
0.3 ppt up
15.3
15.3%
Solvency margin ratio
2,510.4
151.7 ppt up
185.4 ppt up
2,358.7
2,325.0
Notes:
1. Sony Life conducts overall asset-liability management (ALM) by marking to market both assets and liabilities to match the liability characteristics of its long-term insurancepolicies. Consequently, the Company invests in long-term bonds, chiefly long-term Japanese 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 themarket 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
2. Figures indicate percentage changes from March 31, 2014, and September 30, 2013. (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, 2014
% change fromMarch 31, 2014
Core profit

38,598% YoY change-For the year ended
March 31, 2014

14.9%

72,365For thesix months ended
September 30, 201333,586(100 millions of yen)

For the year ended
March 31, 2014

Forecast for theyear ending March 31, 2015
Positive spread (Negative amount indicates negative spread)

Increase (positive spread)

84(4) Policy and Other Reserves(Millions of yen)

As of September 30, 2014

Policy reserves (excluding contingency reserve)
General accounts (excluding contingency reserve)
Separate accounts (excluding contingency reserve)
Reserve for price fluctuations
Contingency reserve
Contingency reserve I
Contingency reserve II
Contingency reserve III
Contingency reserve IV
Contingency reserve fundPrice fluctuations reserve fund

6,347,294
5,655,941
691,353
42,175
66,127
21,89017,473
20,4696,293-

Amount change fromMarch 31, 2014

Amount change from
September 30, 2013

287,332
227,456
59,876
618
2,455
490
343
1,530
91-

642,082
540,953
101,128
5,832
4,463
863
701
2,696
200-As ofMarch 31, 2014
6,059,962
5,428,484
631,477
41,556
63,671
21,40017,12918,9396,202-(5) Unrealized Gains (Losses)

As of
September 30, 2013
5,705,212
5,114,987
590,225
36,342
61,66421,026
16,771
17,772
6,093(Millions of yen)

As of September 30, 2014

Securities
Japanese stocks
JGBs, other bonds
Foreign securities
Real estate

666,290
11,554
633,096
21,02934,645

Amount change fromMarch 31, 2014

Amount change from
September 30, 2013

111,585
2,585
104,791
4,658
16,670136,655
2,805
127,925
6,285
15,763As ofMarch 31, 2014
554,705
8,968
528,305
16,371
17,975As of
September 30, 2013
529,634
8,748
505,171
14,744
18,882

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 securities with market value, other thantrading-purpose securities. (The amount includes “monetary trusts,” but excludes trading-purpose1securities.)
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, 2015
Japanese stocks
JGBs, other bonds
Foreign stocks
Foreign bonds
Real estate

Plan for the second half of the fiscal year
ending March 31, 2015
Flat
Increase
Flat
IncreaseFlat

25,4396,205,956
24,116
108,790
149,950(7) Level of Indices where Unrealized Gains (Losses) on Assets are Break-even

Japanese stocks (NIKKEI Average)
Japanese stocks (TOPIX)
Japanese bonds
Foreign securities

(yen)
(ppt)
(%)
(yen)

As of
September 30, 2014
8,681
711
1.478

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, 2015
Income from insurance premiums
Core profit
Policy amount in force
Annualized premiums for policies in force

ForecastDecrease
Slightly increase
Increase
Increase(9) Cross Holdings with Domestic Banksi) Contributions from Domestic Banks

Foundation (Stocks) funds
Subordinated loans and bonds

As ofSeptember 30, 2014
Not applicableNot applicable

Note: Stocks on contributions from domestic banks are at market value as of September 30, 2014.

ii) Contributions to Domestic Banks
As of
September 30, 2014
Not applicableNot applicable

Bank Stocks (market value basis)
Subordinated loans, bonds and preferred securities
Notes:
1. Contributions extended to banks other than those who held the company's foundation funds.
2. Stocks includes preferred stocks. (Investment in foreign subsidiaries are not included.)(10) Number of Employees
As of September 30, 2014

Sales employees
Office employees

4,764
1,858

% change fromMarch 31, 2014
0.6%
2.3%

% change from
September 30, 2013
2.9%
5.1%

As ofMarch 31, 2014
4,737
1,816

(11) Over-the-counter Sales through Banks(Millions of yen)

For the six months ended September 30, 2014

Variable annuities

Number of new policies
Insurance premiums

Fixed annuities

Number of new policies
Insurance premiums

As of
September 30, 2013

1451% change from
September 30, 2013
100.0
1,302.7
17.926.1

For the year ended
March 31, 2014

For thesix months ended
September 30, 2013

3354
1310285Note: 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)

For the six months ended September 30, 2014
% change from
September 30, 2013
Lump-sum premium
whole life insurance

Number of new policies
Insurance premiums

Lump-sum premium Number of new policies
endowment insurance Insurance premiums-84.4
91.681454

For the year ended
March 31, 2014

For thesix months ended
September 30, 2013

318
1,844

96495

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)

For the six months ended September 30, 2014

Lump-sum premium
life insurance

Number of new policies

Level premium plan
life insurance

Number of new policies

Insurance premiums

Insurance premiums

37198
479
193

% change from
September 30, 2013
72.5
52.5
59.4
60.4

For the year ended
March 31, 2014

For thesix months ended
September 30, 2013

98633
1,333
531

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 six months ended September 30, 2014 includes endowment insurance, living benefit insurance (whole life type),
semi-participating whole life nursing-care insurance.

251377
806
320

4,628
1,767

Attachment

Other Supplementary Data (for the Six Months Ended September 30, 2014)
Provision of policy reserve of the general account assets for minimum guarantee for variable annuities and others(100 millions of yen)

For the six months
ended September 30, 2014
Provision for policy reserve of the general accountassets for minimum guarantee for variable annuities
and others

253

For the year ended
March 31, 2014

For the six months ended
September 30, 20134212