NEWS RELEASE
August 10, 2022
Ryosuke Mori, President
LIFENET INSURANCE COMPANY(Securities Code: 7157, TSE Growth)Lifenet Announces Business Alliance Agreementin the Group Credit Life Insurance with au Jibun Bank Corporation
TOKYO, August 10, 2022 – LIFENET INSURANCE COMPANY (TSE Growth 7157, President
Ryosuke Mori, URL: https://ir.lifenet-seimei.co.jp/en/, hereafter, “Lifenet”) announces the decision toconclude a business alliance agreement in the group credit life insurance with au Jibun Bank
Corporation (Representative Director Toshihiro Inoue, URL：https://www.jibunbank.co.jp/, hereafter,“au Jibun Bank”).
1. Purpose and Reason for Business Alliance in the Group Credit Life Insurance
Lifenet offers customer-oriented life insurance products and services over the Internet based on theLIFENET Manifesto: Comprehensible, Cost-competitive and Convenient. As is shown in the priority
areas in our management policy, Lifenet has been focusing on “innovation of customer experience”
and “enhancement of promotion capabilities” and aim to provide customers with new value in life
insurance. As part of such initiatives, Lifenet has concluded a three-company business allianceagreement with KDDI CORPORATION (hereafter, “KDDI”), and au Financial Holdings Corporation(hereafter, “au Financial Holdings”), an intermediate financial holding company that is a wholly owned
subsidiary of KDDI. Through this alliance, we have been focusing on the white label business utilizing
the brand power and broad customer base of the KDDI Group.
au Jibun Bank in au Financial Group is pursuing the “Smart Money Concept” to provide payment
and financial services better adapted to customers’ daily lives through smartphones, which havebecome central to customers’ lives and is creating new value to become the bank that customers feelfamiliar with.
The purpose of the business alliance is that Lifenet will become the underwriting insurancecompany of the group credit life insurance for the mortgage provided by au Jibun Bank. Based on thisbusiness alliance, we will further strengthen the alliance within the KDDI Group and will explore
products and services of high convenience to customers leveraging the strengths of both companies
offering online financial service.
au Financial Holdings is a major shareholder in Lifenet, the largest shareholder, which holds18.36% of our shares as of March 31, 2022, as well as an “insurance holding company” as defined
under Insurance Business Act. It is also Lifenet’s other associated company whose one of directors
serves concurrently as an outside director at Lifenet.

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2. Description of Business Alliance in the Group Credit Life InsuranceGroup credit life insurance is an insurance policy in which the creditor of the mortgage loan
including bank, etc., is the policyholder and insurance beneficiary, and user receiving the mortgage
loan from the bank, etc., is the insured. Under the business alliance agreement, subject to obtaining
regulatory approval, Lifenet will become the underwriting insurance company of the group credit life
insurance policies currently provided by au Jibun Bank in the second quarter of fiscal year ending
March 31, 2024.
au Jibun Bank was the first Japanese bank which started providing the online mortgage loans in2015. It has been steadily growing, and cumulative amount of mortgage loans exceeded two trillion
yen in March 2022, mainly as a result of attractive interest rates. In the future, Lifenet and au Jibun
Bank will develop products and services that exceed the level of the products which au Jibun Bank
currently provides.
3. New Business Alliance Partner Profile(1)

Company nameau Jibun Bank Corporation(2)

Location

1-19-1, Nihonbashi, Chuo-ku, Tokyo(3)

Representative

Representative Director Toshihiro Inoue(4)

Business description

Financial service business(5)

Capital73,500 million yen(6)Date established

June 17, 2008

Major shareholder &au Financial Holdings Corporation 70.5%

percentage of shares held

MUFG Bank, Ltd. 29.5%(7)Capital

Not applicable

relationship

(8)

(9)

Personnel

Takeshi Saito, a part-time director of au Jibun Bank, is an

Shareholder’s relationshiprelationshipoutside director of Lifenet.

with Lifenet

Transactional

Lifenet mainly maintains deposit transactions with au

relationship

Jibun Bank.

Related party

au Jibun Bank is a subsidiary of au Financial Holdings,status

which is an other associated company of Lifenet.

Financial results of au Jibun Bank Corporation
Financial term

Fiscal year ended

Fiscal year ended

Fiscal year ended

March 31, 2020

March 31, 2021

March 31, 2022

Net assets (million yen)

92,887

104,574

118,568

Total assets (million yen)

1,736,401

2,228,445

2,707,834

Net assets per share (yen)42,056.84

42,823.95

43,688.23

Ordinary income (million yen)

43,65351,07759,617

Ordinary profit (million yen)

2,835

3,067

7,041

Net income (million yen)

1,889

2,520

5,503

Net income per share (yen)855.52

1,140.20

2,172.19

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4. Schedule(1)

Date of the resolution ofthe Board of Directors(2)

Date of the conclusion ofthe agreement(3)

Date of the business
commencement

August 10, 2022
August 10, 2022
Second quarter, fiscal year ending March 31, 2024 (planned)

5. Future Prospects
We project expenditures of around 580 million yen on this business alliance, including systemdevelopment expenses to be recoded as assets. The conclusion of this business alliance will have aminor impact on Lifenet’s business forecasts for fiscal year ending March 31, 2023. If events requiring
disclosure occur in the future, Lifenet will promptly disclose them.

About LIFENET URL： 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 andservices directly to customers over the Internet. We aim to be the leading company driving the growthof the online life insurance market.
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 solelyfor readers' convenience. In case of any discrepancy or dispute, the Japanese document prevails.

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