May 15, 2019Sony Financial Holdings Inc.

Sony Life's Supplementary Data for the Year Ended March 31, 2019at Press Conference(1) Status of Insurance Policies(Millions of yen)
For the year
ended
March 31, 2018

Annualized premiums from new policies
Third-sector products
Annualized premiums of insurance in force
Third-sector products
Income from insurance premiums
Individual life insurance and annuities
Group insurance and annuities

YoY change

For the six months
ended
September 30, 2018

YoY change

For the year
ended
March 31, 2019

YoY change

73,073(6.5%)

37,989+17.3%

87,918+20.3%

12,984(17.4%)

7,311+22.0%

15,251+17.5%

848,823+3.4%

864,668+3.7%

889,347+4.8%

191,895+2.4%

194,918+2.8%

197,520+2.9%

1,059,269+10.7%

542,005+12.8%

1,136,104+7.3%

1,050,339+10.8%

537,793+12.9%

1,126,485

+7.2%

6,386

+5.7%

3,083

(0.7%)

6,247(2.2%)

New policy amount

5,287,977+6.7%

3,159,775+41.6%

6,150,493+16.3%

Policy amount in force

47,253,441+4.2%

48,506,688+4.9%

49,570,879+4.9%

Lapse and surrender amount

2,250,823+22.4%

1,587,351+81.7%

2,858,321+27.0%

Lapse and surrender rate (%)

4.97+0.70pt

3.36+1.43pt

6.06+1.09pt

Notes:
1. The above figures excluding income from insurance premiums represent total amounts of individual life insurance and individual annuities.
2. The amounts of lapse and surrender 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 are total of individual life insurance and individual annuities, are converted to a per-year premium amount by multiplying individual premiumsby 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, 2018

Total assets (Millions of yen)

YoY changeAs of
September 30,2018

YoY change

As ofMarch 31, 2019

YoY change

9,567,689+7.8%

10,070,585+9.4%

10,380,148+8.5%Real net asset A (100 millions of yen)

28,597+7.6%

25,587(2.1%)

34,323+20.0%

Real net asset B (100 millions of yen)

12,422+4.8%

12,429+3.3%

13,180+6.1%

Solvency margin ratio (%)

2,624.3+55.5pt

2,618.9(12.9pt)

2,590.5(33.8pt)

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 andliabilities. 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 ofmanagement soundness. Real net assets (indicated as “Real net assets (A)”) do not adequately reflect the results of ALM because although this measure includes the fair value ofassets, including held-to-maturity bonds, it does not reflect the fair value of liabilities. If regulatory authorities were to appropriately reflect ALM activities, valuation would clearlyexclude 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

Core profit(Millions of yen)

For the yearended
March 31, 2018

YoY change

For the year
ended
March 31, 2019

YoY change

81,384(2.9%)

97,242+19.5%

Forecast for
the year ending
March 31, 2020

Decrease(100 millions of yen)

For the year
For the year
YoY amount
YoY amount
ended
ended
changechange
March 31, 2019
March 31, 2018

Positive spread

+5

Flat

2.22

2.19

Forecast for
the year ending
March 31, 2020
Decrease

1.63

1.94

Decrease

1.97

1.94

Flat

177+23For the year ended
March 31, 2018
Investment yield for core profit (%)
Investment yield (%)(General account)
Average assumed interest rate (%)

Forecast for
the year endingMarch 31, 2020

182
For the year ended
March 31, 2019(4) Policy and Other Reserves(Millions of yen)
As ofMarch 31, YoY amountchange2019

As ofMarch 31,2018

YoY amountchangeAs ofSeptember
30, 2018

YoY amountchange8,476,160+628,679

8,894,900+734,402

9,169,808+693,648

General accounts(excluding contingency reserve)

7,369,232+493,105

7,627,934+530,403

7,890,665+521,432

Separate accounts(excluding contingency reserve)

1,106,927+135,574

1,266,965+203,998

1,279,143+172,215

Reserve for price fluctuations

47,929+1,924

48,967+2,057

50,105+2,175

Contingency reserve
Contingency reserve fund

89,915+7,451

94,325+8,24898,613+8,698－－－－－－－－－－－－

Policy reserves(excluding contingency reserve)

Price fluctuations reserve fund(5) Unrealized Gains (Losses)(Millions of yen)
As ofMarch 31, YoY amountchange2019

As ofMarch 31,2018

YoY amountchangeAs ofSeptember
30, 2018

YoY amountchange1,786,723+141,761

1,468,313(115,415)

2,282,034+495,311

Japanese stocks

16,982+3,585

14,731(1,411)

9,458(7,524)

Japanese bonds

1,788,148+134,963

1,491,321(85,362)

2,271,562+483,413

Foreign securities(18,528)+3,240(37,866)(28,659)872+19,400

68,400(1,264)

69,127(1,434)

99,416+31,015

Securities

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 available-for-sale securities,
net of taxes, other than trading-purpose securities (The amount includes “money held in trust”, 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) Investment Results(Millions of yen)Japanese stocks

For the year
ended
YoY amountMarch 31,change
2019
20,932(10,181)

Japanese bonds

10,129,659+944,374

Foreign stocks, etc.

15,014(8,135)

Foreign bonds

542,014+191,016

Real estate

183,044+28,574(7) Level of Indices where Unrealized Gains (Losses) on Assets are Break-even
As ofMarch 31, 2019Japanese stocks (yen)(The Nikkei Stock Average）

9,592

Japanese stocks (TOPIX) (pt)719Japanese bonds (%)

1.7Foreign securities (yen)106

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 Fiscal Year Ending March 31, 2020
Forecast
Income from insurance premiums
Increase
Policy amount in force

Increase

Annualized premiums for policies in force

Increase(Persons)(9) Number of Employees

As ofAs of
As ofMarch 31,
SeptemberMarch 31,
YoY change
YoY change
YoY change
201830, 2018
2019
Sales employees

5,826

+4.3%

5,830

+3.3%

5,834

+0.1%

Office employees

2,420

+6.1%

2,508

+6.3%

2,627

+8.6%

3

(10) Dividends to Policyholders (Provision of Reserve for Dividends to Policyholders)(Millions of yen)
For the year
For the year
endedendedMarch 31, YoY change March 31,
2018
2019

Individual life insurance and individual annuities
Group life insurance

177+1.8%

102(42.3%)

3,090(20.9%)

2,041(33.9%)3(94.9%)1(57.8%)3,271(21.2%)

2,146(34.4%)

Group annuities
Total(11) Over-the-counter Sales through Banks

Variable annuities
Fixed annuities

YoY change(Millions of yen)

For the year
For the year
ended
ended
March 31, YoY change March 31,
2018
2019

YoY change

Number of new policies

1+0.0%

4Insurance premiums(55.5%)

Number of new policies

0－－3 +3,399.0%－－

Insurance premiums－－－+300.0%－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)
For the year
ended
March 31, YoY change
2018

For the year
ended
March 31, YoY change
2019Single premium
whole life insurance

Number of new policies－－－－

Insurance premiums－－－－

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)
For the year
ended
March 31, YoY change
2018Single premium life insurance
Level premium plan lifeinsurance

For the year
ended
March 31, YoY change
2019

Number of new policies－－－－

Insurance premiums

－－－－

264
93(37.7%)

10823(59.1%)

Number of new policies
Insurance premiums(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, 2019 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(75.1%)