NEWS RELEASE
May 14, 2020
Ryosuke Mori, President
LIFENET INSURANCE COMPANY(Securities Code: 7157, TSE Mothers)

Financial Results for Fiscal 2019 Ended March 31, 2020
Annualized premium of in-force business of 15,514 million yen, up 18.6% year on year
TOKYO, May 14, 2020 - LIFENET INSURANCE COMPANY (TSE Mothers 7157, President
Ryosuke Mori, URL: https://ir.lifenet-seimei.co.jp/en/) discloses financial results for fiscal 2019
ended March 31, 2020.
1．Overview of the financial results for fiscal 2019(1) Business results
Condition of policies-in-force
Annualized premium*1 of new business in 4Q ended March 31, 2020 was 990 million yen(120.3% of 4Q of fiscal 2018). The number of new business was 23,314 (122.2% of 4Q of fiscal
2018). New business performance for fiscal 2019 recorded a historical high. Annualized
premium*1 of new business for fiscal 2019 was 3,425 million yen (123.5% of fiscal 2018). The
number of new business for fiscal 2019 was 80,911 (125.6% of fiscal 2018).
Annualized premium*1 of policies-in-force as of the end of March 31, 2020 stands at 15,514
million yen (118.6% of March 31, 2019). Sum insured of policies-in-force was 2,565,269 million
yen (112.0% of March 31, 2019). The number of policies-in-force resulted in a total of 365,171(118.2% of March 31, 2019). The number of policyholders was 232,537. Surrender and lapse
ratio*2 for fiscal 2019 was 7.0% (6.6% for fiscal 2018).
*1: Annualized premium is the amount of money equivalent to what is to be paid to have the insurance coverage for one
year. All payments for Lifenet products are in monthly installments, we calculate annualized premium as multiplying
the monthly premium by 12 months.
*2: The surrender and lapse ratio is the annual equivalent of the monthly number of policies surrendered and/or lapsed
divided by the monthly average number of policies-in-force.

Results of operations
Insurance premiums and other for fiscal 2019 increased to 16,455 million yen (135.3% offiscal 2018) due to an increase in in-force business and effect from modified co-insurance.
Investment income was 339 million yen (92.9% of fiscal 2018). Other ordinary income was 55
million yen. As a result, ordinary income for fiscal 2019 amounted to 16,850 million yen (134.2%
of fiscal 2018).
Insurance claims and other was 3,759 million yen (148.3% of fiscal 2018). The ratio of
insurance payment amounts to insurance premiums was 18.9% for fiscal 2019, compared with
17.3% for fiscal 2018. Provision for policy reserves and other came to 5,072 million yen(124.6% of fiscal 2018). The ratio of provision for policy reserves to insurance premiums
increased to 35.1% for fiscal 2019, compared with 34.0% for fiscal 2018. Operating expenses
amounted to 9,169 million yen (132.6% of fiscal 2018) mainly due to an increase in ourmarketing spend including advertising. The components of operating expenses were 6,146
million yen in marketing expenses (145.8% of fiscal 2018), 892 million yen in customer service
expenses (113.4% of fiscal 2018), and 2,130 million yen in system and other expenses (111.4%
of fiscal 2018). Other ordinary expenses was 1,081 million yen (142.8% of fiscal 2018).
Consequently, ordinary expenses for fiscal 2019 totaled 19,233 million yen (134.7% of fiscal
2018).
As a result, ordinary profit totaled 2,382 million yen loss for fiscal 2019, compared with 1,719
million yen loss for fiscal 2018. Net income was 2,400 million yen loss, compared with 1,735
Copyright© LIFENET INSURANCE COMPANY All rights reserved.

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NEWS RELEASE
million yen loss for fiscal 2018.
In addition, fundamental profit, which is an indicator for the profitability of life insurancecompanies, amounted to 2,195 million yen loss, compared with 1,656 million yen loss for fiscal
2018, mainly due to an increase in operating expenses. The components of fundamental profit
were 2,851 million yen in mortality margin, 5,064 million yen loss in expense margin and 17 million
yen in interest margin.
We are participating in reinsurance transactions from fiscal 2019 by modified co-insurance onpart of new business to achieve continuous growth. By utilizing reinsurance appropriately, we willease the temporary burden imposed on statutory capital by expenses associated with new
business and maintain fiscal soundness. The reinsurance transactions are agreements thattransfer the risk and the profit (loss) structure of the reinsured business to the reinsurancecompany for a certain period of time. We receive ceding commission in accordance with the new
business costs associated with the reinsured business in the initial fiscal year. This leads to anincrease in ordinary income. On the other hand, after the ceding commission is recorded
reinsurance accounts receivable as asset, it is amortized by the profit generated from thereinsured business over following fiscal years. This leads to a decrease in ordinary profit and net
profit. Once the balance of reinsurance accounts receivable is amortized to zero, the reinsurance
agreement terminates, and subsequent profit on the reinsured business belongs to Lifenet.
Accordingly, the modified co-insurance resulted in raising ordinary income by 2,034 million yen,ordinary profit by 1,526 million yen, and net income by 1,526 million yen for fiscal 2019.
(2) Financial condition
Assets, liabilities and net assets
Total assets as of March 31, 2020 amounted to 41,144 million yen (38,247 million yen as ofMarch 31, 2019). The major account balance was 32,058 million yen in securities mainly
consisting of government bonds and corporate bonds with high credit ratings. Reinsurance
accounts receivable was 1,663 million yen including 1,533 million yen of the balance of
unamortized ceding commission for modified co-insurance.
Liabilities amounted to 31,744 million yen as of March 31, 2020 (26,474 million yen as ofMarch 31, 2019), owing to an increase in policy reserves. The major account balances were
29,690 million yen in policy reserves and 638 million yen in reserves for outstanding claims. In
terms of policy reserves, new business from fiscal 2018 onward has been transferred from 5year Zillmer’s method to standard policy reserves. The difference in policy reserves will beenhanced over five fiscal years, from fiscal 2018 to 2022, with the standing difference at the endof fiscal 2019 at 957 million yen.
Net assets amounted to 9,400 million yen as of March 31, 2020 (11,773 million yen as ofMarch 31, 2019) due to the recording of net loss for fiscal 2019. It includes the effect of raisingretained earnings by 1,526 million yen due to the utilization of modified co-insurance. On theother hand, after the ceding commission is recorded reinsurance accounts receivable as asset,
it is amortized by the profit generated from the reinsured business over following fiscal years.
This leads to a decrease in net assets accordingly.
The solvency margin ratio as of March 31, 2020 was 2,117.1% (2,085.2% as of March 31,2019), which indicated that an adequate level of payment capacity was maintained.

Copyright© LIFENET INSURANCE COMPANY All rights reserved.

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NEWS RELEASE(3) Cash flows
For fiscal 2019, net cash provided by operating activities amounted to 1,613 million yen(2,506 million yen provided for fiscal 2018) despite the increase in operating expenses. Net
cash used by investing activities amounted to 2,204 million yen (3,223 million yen used for fiscal
2018) mainly due to acquisition of securities. Net cash provided by financing activities amounted
to 75 million yen (16 million yen used for fiscal 2018).
Based on these activities described above, cash and cash equivalents as of March 31, 2020
totaled 1,677 million yen (2,192 million yen as of March 31, 2019).
(4) Business forecasts
The business forecasts for fiscal 2020 ending March 31, 2021 remains undetermined at thepresent time due to the continuing future uncertainty caused by the impact of the novel
coronavirus disease (COVID-19).
New business performance in April 2020, amid this environment, was strong. Annualized
premiums on new business were 456 million yen (187.0% of April 2019), and the number of newpolicies was 11,078, surpassing 10,000 new policies for the first time since the Company began
business. The impact of COVID-19 on insurance claims and benefits payments is insignificant atpresent, but we must continue to watch this closely.
In light of the above circumstances, the Company will continue to ascertain future trends
and plans to disclose business forecasts promptly when it becomes possible to estimate
reasonable, appropriate forecasts. Ordinary profit (loss) is expected to be in the red
continuously caused by profit structure under statutory accounting.
(5) Dividend policy
Lifenet has yet to determine its specific dividend policies and dates for the start of distributing
retained earnings as dividends as we still record cumulative loss and will be prioritizing
strengthening our growth base to increase mid to long term profitability.
In the future, we will continue to target business expansion and profit generation byimplementing measures to increase recognition of the Company, developing new products andservices, and effectively utilizing financing for investment in systems and other aspects of thebusiness.
In addition to this, the Company will consider implementing measures to provide shareholder
return that include payment of dividends from future retained earnings after the company isturning a profit at the ordinary profit level in statutory accounting in the mid-2020s.
Lifenet's Articles of Incorporation stipulates that a decision on the distribution of retained
earnings as specified in each Item of Paragraph 1, Article 459 of the Companies Act can bemade by a resolution of the Board of Directors, except as otherwise determined by law.

Copyright© LIFENET INSURANCE COMPANY All rights reserved.

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NEWS RELEASE
2．Business policy(1) Basic management policy
Lifenet’s management philosophy is helping our customers embrace life more fully by offering
comprehensible, cost-competitive and convenient products and services based on the highest
levels of business integrity. With the internet as our main sales channel, we utilize technology
and strive to be the leading company driving the growth of the online life insurance market
through our customer-centric products and services.
(2) Target indicator
As stated in Lifenet’s Management Policy presented in November 2018, we aim to achieve
EEV (European Embedded Value), our main management goal, of 100 billion yen as early as
possible. We have also set the number of policies-in-force and new business as growthindicators, profitability and Adjusted Profit (profit generated from policies-in-force) and marketing
efficiency of new business as profitability indicators, and solvency margin ratio as soundness
indicator. We are also aiming to turn a profit at the ordinary profit in statutory accounting in the
mid-2020s.
(3) Mid- to long-term business strategy and challenges
We formulated a management policy in November 2018 aimed at the continued steady
growth and achievement of high profitability over the mid- to long-term. The policy issummarized below:
Summary of Management Policy
MissionHelp our customers embrace life more fully by offering comprehensible,
cost-competitive and convenient products and services

VisionBe the leading company driving the growth of the online life insurance
market⚫

Innovation of customer experience
Enhancing and evolving the quality of all services with digital

Priority areas

technology⚫

Enhancement of promotion capabilities
Generating massive customer traffic by active promotion andexpansion of agent sales and white label business

Management
goal

Aim to achieve EEV (indicator of corporate value) of 100 billion yen bybusiness growth in a mid-term

Initiatives in the priority areas of “Innovation of customer experience” and “Enhancement ofpromotion capabilities” and other efforts based on this management policy resulted in a record
high in new business performance for the second consecutive fiscal year up to fiscal 2019 and
we feel this demonstrates the real expansion of online insurance.
Lifenet continues to pursue in-force business performance aimed at early achievement of the
management goal of 100 billion yen in EEV (European Embedded Value). We are also aiming toturn a profit at the ordinary profit in statutory accounting in the mid-2020s by enhancing efficiency
and profitability as the scale of business expands.
Moreover, the spread of COVID-19 also makes it essential to respond to a post-COVID-19
world in which drastic changes are expected. Lifenet will leverage its business model, which iscentered on use of the Internet to realize the LIFENET Manifesto of “Comprehensible, Cost-

Copyright© LIFENET INSURANCE COMPANY All rights reserved.

4NEWS RELEASE
Competitive, and Convenient” that we have pursued since we first commenced our business in2008 and strive to provide life insurance products and services unencumbered by conventional
wisdom.
We will therefore pursue initiatives aimed at the following issues which should be addressed:
ⅰ Sustained growth of in-force business performance
Lifenet has designated “Innovation of customer experience” and “Enhancement ofpromotion capabilities” as priority areas in our management policy and we are striving tomaintain the strong new business performance, improve the surrender and lapse ratio, andachieve sustained growth in in-force business performance. We will also actively pursue
investment in core systems to achieve these goals.
First, to achieve “Innovation of customer experience,” Lifenet will aim to provide
convenient life insurance services that exceed the expectations of customers. We willachieve this by designing and improving stress-free services from the perspective of thecustomer’s experience (CX) in the entire series of processes ranging from insurance
consultation, to application and post-policy enrollment procedures, and submitting insurance
claims and other benefit claims, in addition to developing insurance products that meet theneeds of customers. More specifically, we will provide products and services mainly via
smartphone by using digital data analysis and technology that make use of the strengths of
online insurance. Lifenet also aims to increase customer engagement through the use ofadvertising and promotions, our contact center and website, SNS, and meetings forpolicyholders.
Next, to achieve “Enhancement of promotion capabilities,” we will operate our businessusing two pivotal channels, the Internet channel and the agency channel, which includes
white label products using partner company brands. We will work to increase the numberof customers who choose the company through efforts to further raise its recognition andstrengthen brand power via continuous advertising and promotion by utilizing the expertise
we have accumulated through the Internet channel, which has been Lifenet’s main channel
since the company first opened for business. At agency channel, we are cooperating withcorporate partners that possess customer bases and brand power to expand whitelabel business in selling our products under corporate partner brands. We have been
selling au life insurance using KDDI Corporation as an agent since April 2016, and Seven
Financial Service life insurance using Seven Financial Service Co., Ltd. as an agent sinceApril 2020, with the goal of providing Lifenet’s comprehensible, cost-competitive, convenient
products and services to a wider range of customer segments.
ⅱ Securing profitability and financial soundness
Lifenet aims to utilize the strengths and experience in online life insurance it has
cultivated thus far to improve marketing expense efficiency along with growing new
business performance. We will also work to improve operating expense efficiency inoperating expenses excluding marketing expenses by continuing to pursue company-wide
initiatives aimed at improving productivity, including revising operating processes andautomating operations through the use of technology.
It is important to secure sound financial conditions to serve as the base for achieving
sustained growth. As a means, we have been participating in reinsurance transactions fromfiscal 2019 by modified co-insurance on part of new business to ease the temporary burden
imposed on statutory capital by expenses associated with new business. We will also secure
capital sufficiency on an economic value basis in addition to the solvency margin ratio andother indicators of financial soundness, based on our newly established basic policy on risk
appetite.

Copyright© LIFENET INSURANCE COMPANY All rights reserved.

5NEWS RELEASE
3. Basic Rationale for Selection of Accounting Standards
Lifenet is evaluating International Financial Reporting Standards (IFRS), assuming that wewill adopt IFRS in the future. Regarding the new accounting standards for insurance contracts(IFRS 17) which the International Accounting Standards Board (IASB) published, taking into
account the potential effect on the method of creating financial statements, we are continuously
examining their progress.

Copyright© LIFENET INSURANCE COMPANY All rights reserved.

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NEWS RELEASE
4. Non-consolidated Financial Statements(1) Balance Sheets(In millions of yen)March 31
2019

2020

Cash and deposits ·································································

1,192

1,377

Cash ···········································································－

0Bank deposits ································································

1,192

1,377

Monetary claims bought ··························································

999

299

Money held in trust ································································

3,114

3,539

Securities ············································································

30,98932,058Government bonds ·························································

8,071

8,065

Municipal bonds ·····························································

1,394

1,391

Corporate bonds ····························································

16,763

18,119Stocks ·········································································

363

313

Foreign securities ···························································

45

0

Other securities ·····························································

4,352

4,167

Tangible fixed assets ······························································

99

96

Buildings ······································································

16

14

Leased assets ·······························································

19

7

Other tangible fixed assets ···············································

62

75

Intangible fixed assets ····························································

629

742

Software·······································································

553

597

Software in progress ·······················································

70

144

Leased assets ·······························································

5－

Agency accounts receivable ····················································

7

9

Reinsurance accounts receivable ··············································

69

1,663

Other assets·········································································

1,146

1,356

Accounts receivable ························································

955

1,132

Prepaid expenses ··························································

72

98

Accrued income ·····························································

44

52

Deposits ·······································································

73

73

Suspense payments ·······················································

1

0

Total assets ···························································

38,247

41,144ASSETS

Copyright© LIFENET INSURANCE COMPANY All rights reserved.

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NEWS RELEASE(In millions of yen)March 31
2019

2020

Policy reserves and other ························································

25,25630,328Reserves for outstanding claims ········································

469

638

Policy reserves ······························································

24,786

29,690Agency accounts payable ·······················································

72

55

Reinsurance accounts payable ·················································

160

225

Other liabilities ······································································

707

882

Income taxes payable ·····················································

1

3

Accounts payable ···························································

37

35

Accrued expenses ··························································

594

775

Deposits received ···························································

13

13

Lease liabilities ······························································

16

7

Asset retirement obligations··············································

33

33

Suspense receipt ···························································

9

13

Reserves under the special laws ···············································

42

56

Reserve for price fluctuations ············································

42

56

Deferred tax liabilities ·····························································

233

195

Total liabilities ·························································

26,474

31,744

Capital stock ········································································

12,136

12,200Capital surplus ······································································

12,136

12,200Legal capital surplus ·······················································

12,136

12,200Retained earnings ·································································(13,101)(15,502)

Other retained earnings ···················································(13,101)(15,502)

Retained earnings brought forward ·····························(13,101)(15,502)

Shareholders’ equity ·········································

11,172

8,898

Valuation difference on available-for-sale securities ······················

600

502

Valuation and translation adjustments ········································

600

502

Total net assets ···············································

11,773

9,400

Total liabilities and net assets ·····························

38,247

41,144

LIABILITIESNET ASSETS

Copyright© LIFENET INSURANCE COMPANY All rights reserved.

8

NEWS RELEASE(2) Statements of Operations

Ordinary income ························································
Insurance premiums and other ······························
Premiums income ·······································
Reinsurance income ····································
Investment income ·············································
Interest, dividends and other income ···············
Interest from deposits ···························
Interest and dividends from securities ·······
Other interest and dividends ···················
Gain on money held in trust ···························
Gain on sales of securities ····························
Other ordinary income ·········································
Other ························································
Ordinary expenses ····················································
Insurance claims and other···································
Insurance claims ·········································
Benefits ····················································
Other refunds ·············································
Reinsurance commissions ····························
Provision for policy reserves and other ····················
Provision for reserves for outstanding claims ·····
Provision for policy reserves ··························
Investment expenses ··········································
Interest expenses ········································
Loss on sales of securities ····························
Loss on valuation of securities ·······················
Foreign exchange losses ······························
Other investment expenses ···························
Operating expenses ············································
Other ordinary expenses ······································
Taxes ·······················································
Depreciation ··············································
Other ························································
Ordinary profit (loss) ··················································
Extraordinary losses ··················································
Provision of reserves under the special laws ············
Provision of reserve for price fluctuations ·········
Income (loss) before income taxes ································
Income taxes-current ·················································
Income taxes ····························································Net income (loss) ······················································(In millions of yen)
Year ended March 31
2019
2020
12,56016,85012,15916,455
11,845
13,982
313
2,473
365
339
230
291
0
0
230
291
0
0
36
31
98
16
35
55
35
55
14,28019,233
2,535
3,759
1,353
1,694
701
941
0
0
480
1,122
4,070
5,072
40
168
4,029
4,903
1
151
0
0
－
53
－
95
－
0
1
1
6,916
9,169
757
1,081
503
769
251
300
1
11
(1,719)(2,382)
11
13
11
13
11
13
(1,731)(2,396)4
4
4
4(1,735)(2,400)

Copyright© LIFENET INSURANCE COMPANY All rights reserved.

9

NEWS RELEASE(3)

Statements of Changes in Net Assets(In millions of yen)
Year ended March 31
2019
2020

Shareholders' equity:
Capital stock
Capital stock ························································
Changes of items during the period
Issuance of new shares-restricted stock ··············
Issuance of new shares-exercise of subscription rights to shares ········
Total changes of items during the period ··············
Capital stock ························································
Capital surplus
Legal capital surplus
Legal capital surplus ·······································
Changes of items during the period
Issuance of new shares-restricted stock ··········
Issuance of new shares-exercise of subscription rights to shares ·Total changes of items during the period ··········
Legal capital surplus ··············································
Total capital surplus
Capital surplus ···············································
Changes of items during the period
Issuance of new shares-restricted stock ··········
Issuance of new shares-exercise of subscription rights to shares ·Total changes of items during the period ··········
Capital surplus ···············································
Retained earnings
Other retained earnings
Retained earnings brought forward
Retained earnings brought forward·················
Total changes of items during the period
Net income (loss) ···································
Total changes of items during the period ·····
Retained earnings brought forward·················
Total retained earnings
Retained earnings ········································
Changes of items during the period
Net income (loss) ·····································
Total changes of items during the period ·······
Retained earnings ·······································
Total shareholders' equity
Shareholders' equity ···········································
Changes of items during the period
Issuance of new shares-restricted stock ··············
Issuance of new shares-exercise of subscription rights to shares ········Net income (loss) ···········································
Total changes of items during the period ··············
Shareholders' equity ···········································

12,136

12,136－－－
12,13620
42
63
12,20012,136

12,136－－－
12,13620
42
63
12,20012,136

12,136－－－
12,13620
42
63
12,200(11,365)(13,101)(1,735)(1,735)(13,101)(2,400)(2,400)(15,502)(11,365)(13,101)(1,735)(1,735)(13,101)(2,400)(2,400)(15,502)

12,907

11,172－－(1,735)(1,735)
11,17241
85(2,400)(2,273)
8,898

Copyright© LIFENET INSURANCE COMPANY All rights reserved.

10

NEWS RELEASE(In millions of yen)
Year ended March 31
2019
2020
Valuation and translation adjustments:
Valuation difference on available-for-sale securities
Valuation difference on available-for-sale securities ···Changes of items during the period
Net changes of items other than shareholders'equity ······················································
Total changes of items during the period ··········
Valuation difference on available-for-sale securities
Total valuation and translation adjustments
Total valuation and translation adjustments ··············
Changes of items during the period
Net changes of items other than shareholders'equity ······················································
Total changes of items during the period ··········
Total valuation and translation adjustments ··············Net assets:
Net assets ·······························································
Changes of items during the period
Issuance of new shares-restricted stock ··················
Issuance of new shares-exercise of subscription rights to shares ············Net income (loss) ················································Net changes of items other than shareholders' equity ·Total changes of items during the period ··················Net assets ·······························································

480

600

120

(98)

120
600

(98)
502

480

600

120

(98)

120
600

(98)
502

13,387

11,773－－(1,735)120(1,614)
11,77341
85(2,400)(98)(2,372)
9,400

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11

NEWS RELEASE(4) Statements of Cash Flows(In millions of yen)
Year ended March 31
2019

2020

Cash flows from operating activities
Income (loss) before income taxes ·····································(1,731)(2,396)

Depreciation and amortization ···········································

251

300

Increase (decrease) in reserves for outstanding claims ···········

40

168

Increase (decrease) in policy reserves ·································

4,029

4,903

Increase (decrease) in reserve for price fluctuations ···············

11

13

Interest, dividends and other income ···································

(230)

(291)

Loss (gain) related to securities ··········································

(98)

132

Interest expenses ···························································

10

Decrease (increase) in agency accounts receivable ···············

(2)

(2)

Decrease (increase) in reinsurance accounts receivable ··········(24)(1,593)

Decrease (increase) in other assets <excluding assets for investing and financing activities > ·

(156)

(197)

Increase (decrease) in agency accounts payable ························

13

(17)

Increase (decrease) in reinsurance accounts payable ·············

52

64

Increase (decrease) in other liabilities <excluding assets for investing and financing activities> ·

172

184

Other, net ······································································

(35)

1

Subtotal ········································································

2,293

1,271

Interest and dividends income received ·······························
Interest expenses paid ·····················································

258
(0)

340
(0)

Income taxes (paid) refund ················································

(44)

2

Net cash provided by (used in) operating activities ············

2,506

1,613

Cash flows from investing activities
Purchase of money held in trust ·········································

(400)

(450)

Purchase of securities ······················································(4,593)(4,030)

Proceeds from sales and redemption of securities ······················

2,027

2,690

Total of net cash provided by (used in) investment transactions ···(2,965)(1,789)Total of net cash provided by (used in) operating activities and investment transactions ···

(459)

(175)

Purchase of tangible fixed assets ·······································
Purchase of intangible fixed assets ·····································

(32)
(225)

(56)
(358)

Net cash provided by (used in) investing activities ·············(3,223)(2,204)

Cash flows from financing activities
Proceeds from issuance of stock resulting from exercise of subscription rights to shares ···－85

Repayments of lease liabilities ···········································

(16)

(9)

Net cash provided by (used in) financing activities ············

(16)

75

Net increase (decrease) in cash and cash equivalents ················

(733)

(514)

Cash and cash equivalents, beginning of the year ······················

2,926

2,192

Cash and cash equivalents, end of the year ······························

2,192

1,677

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12

NEWS RELEASE
About LIFENETURL: 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 andprovided solely for readers' convenience. In case of any discrepancy or dispute, the Japanese
document prevails.

Copyright© LIFENET INSURANCE COMPANY All rights reserved.

13