NEWS RELEASE
July 3, 2020
Ryosuke Mori, President
LIFENET INSURANCE COMPANY(Securities Code: 7157, TSE Mothers)

Notice of Issuance of New Shares and Secondary Offering
TOKYO, July 3, 2020 – LIFENET INSURANCE COMPANY (TSE Mothers 7157, President
Ryosuke Mori; URL: https://ir.lifenet-seimei.co.jp/en/; hereafter, the “Company”) announces that,at the meeting of the Board of Directors held on July 3, 2020, the Company resolved to issue newshares by way of offering (hereinafter, the “Issuance of New Shares by way of Offering”) andmake secondary offering of shares (hereinafter, the “Secondary Offering of Shares”) in aninternational offering as follows, for the purpose of realising the growth aimed for by the Companyin the future.
1. Issuance of New Shares by way of Offering(1) Class and Number of
9,200,000 new shares of common stock of the Company
Shares to be Offered

which are the sum of (i) and (ii) below.
(i)

8,000,000 new shares of common stock of theCompany to be purchased by the Manager as referred
to in (4) below.

(ii)

A maximum of 1,200,000 additionally-issued shares ofcommon stock of the Company which may bepurchased pursuant to an option to purchase to be
granted to the Manager as referred to in (4) below.

(2)

Method ofThe amount to be paid will be determined on a date falling inDetermination of thethe period from July 13, 2020 (Monday) to July 15, 2020

Amount to be Paid(Wednesday) (the “Pricing Date”) by a process equivalent tothe book-building process provided under Article 25 of theRegulations Concerning Underwriting, etc. of Securities
provided by the Japan Securities Dealers Association(“JSDA”).

(3)

Method of Offering

The Issuance of New Shares by way of Offering will be madeoutside Japan, mainly in Europe and Asia (excluding theUnited States). The Company will grant the Manager anoption to purchase the additionally-issued shares set forth in(1)(ii) above.
The issue price (offer price) with regard to the Issuance ofNew Shares by way of Offering will be determined based on
the provisional range calculated by multiplying the closing

Note: This press release has been prepared for the purpose of announcing to the public certain matters relating to theissuance of new shares by way of offering and secondary offering of shares of the Company in an international
offering, and not for the purpose of soliciting investment or engaging in any other similar activities within or outside
Japan. In addition, this press release does not constitute an offer or sale of securities in the United States. The
securities may not be offered or sold in the United States absent registration or an exemption from registration under
the United States Securities Act of 1933, as amended. The securities referred to above will not be publicly offeredor sold in the United States. It is prohibited to distribute this press release in the United States.

Copyright© LIFENET INSURANCE COMPANY All rights reserved1NEWS RELEASE
price of regular trading of the common stock of the Companyon the Tokyo Stock Exchange on the Pricing Date (or, if noclosing price is quoted on that date, the closing price of theimmediately preceding date) by 0.90 – 1.00 (with any fraction
less than one yen being rounded down), by a processequivalent to the book-building process provided under
Article 25 of the Regulations Concerning Underwriting, etc.
of Securities provided by JSDA, taking into account market
demand and other conditions.
(4)Payment Date

July 20, 2020 (Monday)(5)

Delivery Date

July 21, 2020 (Tuesday)(6)

Subscription Unit

100 shares(7)

The amount to be paid, the amount of increase in capital stock and capital reserve,
the issue price (offer price) and any other matters necessary for the Issuance of New
Shares by way of Offering shall be determined at the discretion of Ryosuke Mori,President and Representative Director.

2. Secondary Offering of Shares(1) Class and Number ofShares to be Sold
(2)

Sellers and Number

4,194,400 shares of common stock of the Company
Asuka DBJ Investment Limited Partnershipof Shares to be Sold

2,944,400 shares
Recruit Holdings Co., Ltd.
1,250,000 shares(3Sale Price

The sale price will be determined based on the provisional
range calculated by multiplying the closing price of regular
trading of the common stock of the Company on the Tokyo
Stock Exchange on the Pricing Date (or, if no closing priceis quoted on that date, the closing price of the immediately
preceding date) by 0.90 – 1.00 (with any fraction less than
one yen being rounded down), by a process equivalent tothe book-building process provided under Article 25 of theRegulations Concerning Underwriting, etc. of Securities
provided by JSDA, taking into account market demand andother conditions. The sale price shall be the same as theissue price set forth in 1. above.

(4)

Method of Sale

The Secondary Offering of Shares will be made outside
Japan, mainly in Europe and Asia (excluding the UnitedStates) and the Manager will underwrite all of the shares
set forth in (1) above.

(5)

Delivery date

The same day as the delivery date in the Issuance of NewNote: This press release has been prepared for the purpose of announcing to the public certain matters relating to theissuance of new shares by way of offering and secondary offering of shares of the Company in an international
offering, and not for the purpose of soliciting investment or engaging in any other similar activities within or outside
Japan. In addition, this press release does not constitute an offer or sale of securities in the United States. Thesecurities may not be offered or sold in the United States absent registration or an exemption from registration under
the United States Securities Act of 1933, as amended. The securities referred to above will not be publicly offeredor sold in the United States. It is prohibited to distribute this press release in the United States.

Copyright© LIFENET INSURANCE COMPANY All rights reserved2NEWS RELEASE
Shares by way of Offering.
(6)

Subscription unit

(7)

The sale price and any other matters necessary for the Secondary Offering of

100 shares

Shares shall be determined at the discretion of Ryosuke Mori, President andRepresentative Director.
Contact:
Investor Relations, Corporate Planning Department
Tel: +81-3-5216-7900
e-mail: ir@lifenet-seimei.co.jp
Disclaimer: This is a summarized translation/version of the original Japanese document, prepared and provided
solely for readers' convenience. In case of any discrepancy or dispute, the Japanese document prevails.

Note: This press release has been prepared for the purpose of announcing to the public certain matters relating to theissuance of new shares by way of offering and secondary offering of shares of the Company in an international
offering, and not for the purpose of soliciting investment or engaging in any other similar activities within or outside
Japan. In addition, this press release does not constitute an offer or sale of securities in the United States. Thesecurities may not be offered or sold in the United States absent registration or an exemption from registration underthe United States Securities Act of 1933, as amended. The securities referred to above will not be publicly offeredor sold in the United States. It is prohibited to distribute this press release in the United States.

Copyright© LIFENET INSURANCE COMPANY All rights reserved3