November 24, 2020

Supplementary Materials for the Six Months Ended September 30, 2020
［Contents］

Ⅰ．General Account
１．Securities(1) Breakdown of Securities

･････

Ｐ１

(2) Securities by Contractual Maturity Date

･････

Ｐ2

(3) Domestic Stocks by Industry

･････

Ｐ3

(4) Fair Value Information on Derivative Transactions

･････

Ｐ4

(1) Breakdown of Loans

･････

Ｐ6

(2) Loans by Contractual Maturity Date

･････

Ｐ6

(3) Loans to Domestic Corporations by Corporation Size

･････

Ｐ7

(4) Industrial and Consumer Loans by Industry

･････

Ｐ8

(5) Loans by Collateral Type

･････

Ｐ9

(1) Breakdown by Asset Composition

･････

Ｐ10

(2) Investments by Region

･････

Ｐ11

(3) Foreign Currency-denominated Assets by Currency

･････

Ｐ１3

(1) Fair Value Information on Securities

･････

Ｐ１4

(2) Fair Value Information on Derivative Transactions

･････

Ｐ１4

･････

Ｐ１4

･････

Ｐ１5

(1) Fair Value Information on Securities

･････

Ｐ１6

(2) Fair Value Information on Derivative Transactions

･････

Ｐ１8

Ⅳ．Breakdown of Allowance for Possible Loan Losses

･････

Ｐ21

Ⅴ．Policy Reserves Accumulation Method and Ratio for Individual Insurance and Annuities

･････

Ｐ21

２．Loans

３．Foreign Investments

Ⅱ．Separate Account１．Individual Variable Insurance

２．Individual Variable Annuities

Ⅲ．Company Total of General Account and Separate Account
１．Asset Composition
２．Fair Value Information on Securities

Asahi Mutual Life Insurance Company

Ⅰ．General Account
１． Securities （General Account）（１）Breakdown of Securities （General Account）(Millions of Yen)

As of March 31, 2020
AmountPercentage

As of September 30, 2020
AmountPercentage

National government bonds

1,723,627

39.6

1,667,129

37.2

Local government bonds

54,671

1.3

53,9691.2

Corporate bonds

943,904

21.7

1,017,746

22.7

427,3789.8

472,31210.5

Domestic stocks

282,473

6.5

344,556

7.7

Foreign securities

1,285,061

29.5

1,320,904

29.5

Foreign bonds

1,063,892

24.4

1,040,649

23.2

221,1695.1

280,255

6.3

63,666

1.5

77,8551.7

4,353,404

100.0

4,482,161

100.0

Public entity bonds

Foreign stocks andother foreign securities
Other securities
Total

1

Asahi Mutual Life Insurance Company

(2）Securities by Contractual Maturity Date （General Account）
As of March 31, 2020

(Millions of Yen）

Due in1 yearor less
Securities
National government
bonds
Local government
bonds
Corporate bonds
Domestic stocks
Foreign securities
Foreign bonds
Foreign stocks andother foreign securities

52,184
13,945

26,52150,443

109,304

5,819

2,773

3,003

-

545

24,359106,093132,035

99,20347,199

8,060
3,320

50,21450,214

176,924
176,924

214,209
202,609419,391
379,977

535,013
943,904
282,473
282,473416,261 1,285,061
250,846 1,063,892

4,739

-

-

11,60039,413

165,415

221,169

-

2,611
-

5,154
-

-

1,399
-

54,49926,91563,666
26,915

-

-

-

-

-

-

-

52,184

188,214367,561

422,717

Other securities
Monetary claims bought
Negotiable certificatesof deposit
OthersTotal

Due after
Due after Due after Due after Due after 10 years or
1 year to 3 years to 5 years to 7 years to having no
Total
3 years
5 years
7 years
10 years
maturity
date
188,214367,561
422,717
813,893 2,508,833 4,353,404
345,357 1,178,055 1,723,627(Millions of Yen）

Due in1 yearor less

Foreign stocks andother foreign securities

Other securities
Monetary claims bought
Negotiable certificatesof deposit
OthersTotal

54,671

813,893 2,535,748 4,380,319

As of September 30, 2020

Securities
National government
bonds
Local government
bonds
Corporate bonds
Domestic stocks
Foreign securities
Foreign bonds

42,52972,027

Due after
Due after Due after Due after Due after 10 years or
1 year to 3 years to 5 years to 7 years to having no
Total
3 years
5 years
7 years
10 years
maturitydate
194,246
380,825456,215
786,528 2,592,318 4,482,161

12,02325,82940,752

142,105

4,504

2,696

3,002

-

543

32,516113,100

122,691

102,073

41,382

22,983
19,03850,35850,358

212,776
211,982

211,243
207,508

368,793
327,473

605,981 1,017,746
344,556
344,556454,748 1,320,904
224,287 1,040,649

3,944

-

794

3,735

41,320230,461

280,255

-

2,262
-

1,601
-

792
-

2,982
-

70,216
26,05877,85526,058

-

-

-

-

-

-

-

72,027

194,246

380,825456,2152

372,826 1,073,593 1,667,129
43,22153,969786,528 2,618,377 4,508,219

Asahi Mutual Life Insurance Company

（3) Domestic Stocks by Industry （General Account）(Millions of Yen）
As of September 30, 2020

As of March 31, 2020
AmountForestry and fisheries
MiningConstruction

Percentage

26
4,125

0.0

2,023
8
66
37,298484
16,033
471
599
8,827
253
4,296
54,256
2,951
4
4,534
27

0.7

1.5

AmountPercentage

28
4,547

0.0

2,321
10
65
42,945568
17,909542
602
10,719243
5,906
76,212
3,098
4
4,456
27

0.7

1.3

Manufacturing industry
Food products
Textiles and clothing
Pulp and paper
Chemicals
Medical supplies
Oil and coal products
Rubber products
Glass and stone products
Steel
Non-steel metals
Metal products
Machinery
Electric appliances
Transportation equipment
Precision instruments
OthersElectric and gas utilities
Transportation andCommunications industries
Ground transportation
Water transportation
Air transportation
Warehouses
Telecommunications

0.0
0.0
13.2
0.2
5.7
0.2
0.2
3.1
0.1
1.5
19.2
1.0
0.0
1.6
0.0

39,372
1
1,491
1,557

13.9

55,184
2,367

19.5

31,635
5,798
2,043
3,090
1,279
2,360
282,473

11.2

0.0
0.5
0.6

0.0
0.0
12.5
0.2
5.2
0.2
0.2
3.1
0.1
1.7
22.1
0.9
0.0
1.3
0.0

49,854
1
1,672
1,664

14.5

69,107
2,992

20.1

33,526
5,834
2,043
3,871
1,302
2,470
344,556

9.7

0.0
0.5
0.5

Commerce
Wholesale
RetailFinancial industries
Banks
Securities and trading companies
Insurance
OthersReal estate
Service
Total

3

0.8

2.1
0.7
1.1
0.5
0.8
100.0

0.9

1.7
0.6
1.1
0.4
0.7
100.0

Asahi Mutual Life Insurance Company

（4）Fair Value Information on Derivative Transactions (General Account)(ⅰ) Gains and Losses on Derivatives （Hedge Accounting Applied and Hedge Accounting Not Applied）（General Account）(Millions of Yen）
As of March 31, 2020
Hedge accounting applied
Hedge accounting not applied
Total

Interestrelated-

Currencyrelated
20,684566
21,251

Stockrelated

Bondrelated-

Others-Total-

20,684566
21,251

Note: Gains/losses on derivative financial instruments with fair value hedge accounting applied (currency-related, gain of 20,684 million yen) andgains/losses on derivative financial instruments with hedge accounting not applied are reported in the statements of income.

(Millions of Yen）
As of September 30, 2020
Hedge accounting applied
Hedge accounting not applied
Total

Interestrelated-

Currencyrelated
5,921
315
6,237

Stockrelated

Bondrelated-

Others
-

Total
-

5,921
315
6,237

Note: Gains/losses on derivative financial instruments with fair value hedge accounting applied (currency-related, gain of 5,921 million yen) andgains/losses on derivative financial instruments with hedge accounting not applied are reported in the statements of income.

(ⅱ) Interest-related Transactions (General Account)
No ending balance as of September 30, 2020 and as of March 31, 2020.
(ⅲ) Currency-related Transactions (General Account)(Millions of Yen）
As of September 30, 2020

As of March 31, 2020
Notional amount/contract value

Fair value

Gains/
losses

Notional amount/contract value

over 1 year

Over the counter
Currency forward contracts
Sold
U.S. dollars
Australian dollars
Canadian dollars
Euro
OthersBoughtU.S. dollars
Australian dollars
Canadian dollars
Euro
OthersCurrency options
Sold
Call options
U.S. dollars
Put options
U.S. dollars
BoughtCall options
U.S. dollars
Put options
U.S. dollars
Currency swaps
OthersSold
BoughtFair value

Gains/
losses

6,175
1,444
311
487
107
3,824
61
36
14
10
-

6,175
1,444
311
487
107
3,824
61
36
14
10
-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

over 1 year

1,360,498
787,920
171,355
59,187125,285
216,748
7,180
7,180
-

-

21,305(4,003)
10,605(980)
808
14,875(54)(54)-

21,305 1,332,897(4,003) 756,455
10,605203,935(980)
70,667808
98,62914,875203,208(54)
26,278
16,588
(54)
3,116
6,573
-

[-]
[-]
[-]
[-]

-

-

[-]
[-]
[-]
[-]
-

-

-

-

-

[-]
[-]

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total

21,251

-

[-]
[-]
[-]
[-]

-

[-]
[-]
[-]
[-]
-

-

-

-

-

[-]
[-]

-

-

-

-

-

-

-

-

6,237

Notes:
1.Figures in [ ] are option premiums.
2.Gains/losses represent the fair value for currency forward contracts and difference between option premiums and fair value for currency options.
3.Assets and liabilities which are denominated in foreign currencies but have fixed settlement amounts in yen under currency-related derivativetransactions are reported in yen amounts in the balance sheets and those currency-related derivative transactions are excluded from the table above.

4

Asahi Mutual Life Insurance Company

(ⅳ) Stock-related Transactions (General Account)
No ending balance as of September 30, 2020 and as of March 31, 2020.
(ⅴ) Bond-related Transactions （General Account）
No ending balance as of September 30, 2020 and as of March 31, 2020.

5

Asahi Mutual Life Insurance Company

２．Loans （General Account）（1） Breakdown of Loans （General Account）(Millions of Yen）
As of March 31, 2020 As of September 30, 2020
Policy loans

40,55338,154

Policyholder loans

37,216

34,959Premium loans

3,337

3,195

337,359

277,718(2,414)
333,785(331,370)(1,000)276,958(275,958)

390

313

2,530

-

Mortgage loans

177

162

Consumer loans

464

269

Others1014377,913315,873

27,87920,463

Industrial and consumer loans（Loans to borrowers outside Japan）
Loans to corporations（Loans to domestic corporations）
Loans to government, internationalorganizations and government-relatedorganizations
Loans to local government and public
entities

Total
Subordinated loans（2）Loans by Contractual Maturity Date （General Account）

Due in1 yearor less(Millions of Yen）
Due after
Due after Due after Due after Due after 10 years or
1 year to 3 years to 5 years to 7 years to having no
Total
3 years
5 years
7 years
10 years
maturitydate

As of March 31, 2020
Floating-rate loans

2,502

9,944

2,521

420

-

20,96136,350

Fixed-rate loans

91,91877,06757,89436,385

14,18623,556

301,008

Total

94,42187,01160,41536,805

14,18644,518337,359

Floating-rate loans

1,500

8,772

2,096

410

-

14,961

27,741

Fixed-rate loans

50,79569,79355,522

41,946

7,850

24,068249,977

Total

52,29678,566

57,61842,3577,850

39,029277,718

As of September 30, 2020

6

Asahi Mutual Life Insurance Company

（3) Loans to Domestic Corporations by Corporation Size （General Account）(Millions of Yen except number of borrowers)
As of March 31, 2020

As of September 30, 2020

Percentage
Large
corporations

Medium-sizedcorporations

Small-sizedcorporations

Number of borrowers

Percentage

77

75.5

67

72.0

290,37187.6

233,324

84.6

Number of borrowers

-

-

1

1.1

Amount of loans

-

-

1,326

0.5

Number of borrowers

25

24.5

25

26.9

40,99912.4

41,307

15.0

102

100.0

93

100.0

331,370100.0

275,958

100.0

Amount of loans

Amount of loans
Number of borrowers

Total
Amount of loans

Notes:
1. Categorization by corporation size is based on the following criteria.
2. Number of borrowers does not equal the number of loan transactions.

Criteria:
1. Large corporations include corporations with paid-in capital of at least \1 billion and more than
300 employees (more than 50 employees in the case of retailers and restaurants; more than 100
employees in the case of service companies and wholesalers).
2. Medium-sized corporations include corporations with paid-in capital of more than \300 million
and less than \1 billion (more than \50 million and less than \1 billion in the case of retailers,
restaurants and service companies; more than \100 million and less than \1 billion in the case ofwholesalers) and more than 300 employees (more than 50 employees in the case of retailers andrestaurants; more than 100 employees in the case of service companies and wholesalers).
3. Small-sized corporations include all other corporations.

7

Asahi Mutual Life Insurance Company

（4）Industrial and Consumer Loans by Industry (General Account)（Millions of Yen）
As of September 30, 2020

As of March 31, 2020
AmountDomestic
Manufacturing industry
Food products
Textiles and clothing
Wood and wood products
Pulp and paper
Printing
Chemicals
Oil and coal products
Ceramic, stone and clay products
Steel
Non-steel metals
Metal products
Machinery
Electric appliances
Transportation equipment
Other manufactured goods
Farming and forestry
Fisheries
MiningConstruction
Electric, gas, steam and water utilities
Telecommunications
Transportation and postal services
Wholesale
RetailFinancial and insurance
Real estate
Rental services
Scientific research, professional
and technological services
Hospitality
Restaurant and catering
Entertainment
Education, learning support
MedicalOther services
Local public entities
Individuals
Total domestic
Foreign
Government
Financial institutions
Commercial and industrial
Total foreign
Total

Percentage

AmountPercentage

48,631
240
1,800
800
7,601
800
6
14,964
15,049
6,262
300
90
716
980
13,431
1,111
39,55056,9401,001
105,306
21,40038,006

14.4
0.1
0.5
0.2
2.3
0.2
0.0
4.4
4.5
1.9
0.1
0.0
0.2
0.3
4.0
0.3
11.7
16.9
0.3
31.2
6.3
11.3

41,691
210
1,800
800
7,146
800
91
11,963
14,552
3,246
300
80
700
955
11,409650
25,33347,9401,450
90,51918,13530,316

15.0
0.1
0.6
0.3
2.6
0.3
0.0
4.3
5.2
1.2
0.1
0.0
0.3
0.3
4.1
0.2
9.1
17.3
0.5
32.6
6.5
10.9

-

-

-

-

6,792
1,150
642
334,944

2.0
0.3
0.2
99.3

6,579
1,307
432
276,718

2.4
0.5
0.2
99.6

2,414
2,414
337,359

0.7
0.7
100.0

1,000
1,000
277,718

0.4
0.4
100.0

Note: Domestic industry categories above are based on classification used by Bank of Japan in survey of loans.

8Asahi Mutual Life Insurance Company

（5）Loans by Collateral Type （General Account）
As of March 31, 2020
AmountSecured loans

Percentage（Millions of Yen）
As of September 30, 2020
AmountPercentage

7,645

2.3

9,990

3.6

Loans secured by securities

2,683

0.8

4,045

1.5

Loans secured by real estate,
movable assets and foundations

3,985

1.2

5,000

1.8

976

0.3

944

0.3

Guaranteed loans

8,376

2.5

8,014

2.9

Unsecured loans

320,69495.1

259,281

93.4

Others

642

0.2

432

0.2

Total

337,359

100.0

277,718

100.0

27,8798.3

20,463

7.4

Loans secured by personal
guarantees

Subordinated loans

9Asahi Mutual Life Insurance Company

３．Foreign Investments （General Account）（1） Breakdown by Asset Composition （General Account）（ⅰ） Assets Denominated in Foreign Currency （General Account）

Foreign bonds
Foreign stocks
Cash, deposits and other assets
Subtotal

As of March 31, 2020

（Millions of Yen）
As of September 30, 2020

AmountPercentage
900,69069.5
260.0
170,62713.2
1,071,343
82.7

AmountPercentage
877,47965.9
230.0
237,840
17.9
1,115,342
83.8（ⅱ） Assets Swapped into Yen （General Account）（Millions of Yen）
As of September 30, 2020

As of March 31, 2020
AmountForeign bonds
Cash, deposits and other assets
Subtotal

Percentage-

AmountPercentage-（ⅲ） Assets Denominated in Yen （General Account）

Loans to borrowers outside Japan
Foreign bonds and other assets
Subtotal

As of March 31, 2020

（Millions of Yen）
As of September 30, 2020

AmountPercentage
1,000
0.1
223,45317.2
224,453
17.3

AmountPercentage
1,000
0.1
214,65616.1
215,656
16.2（ⅳ） Total （General Account）

Total foreign investments
Foreign real estate（Millions of Yen）
As of March 31, 2020
As of September 30, 2020
AmountPercentage
AmountPercentage
1,295,797
100.0
1,330,999
100.0-

Note: Assets swapped into yen are assets whose settlement amounts are fixed into yen byforeign currency forward contracts and other agreements and which are reported in the
yen amounts on the balance sheets.

10

Asahi Mutual Life Insurance Company

（2） Investments by Region (General Account)（Millions of Yen）
As of March 31, 2020
Foreign securities
Foreign bonds

Loans to borrowers
Foreign stocks
outside Japanand other foreign
securities
Amount Percentage Amount Percentage

AmountPercentage

AmountPercentage

North America

429,52233.4

385,34130.0

44,1803.4--

Europe476,33937.1

466,578

36.3

9,760

0.8

-

-

Oceania

2,322

0.2

2,322

0.2

-

-

-

-

21

0.0

-

-

21

0.0

-

-

Asia
Latin America

262,83120.5

95,6247.4

167,207

13.0

2,414

100.0

Middle East

-

-

-

-

-

-

-

-

Africa

-

-

-

-

-

-

-

-

114,025

8.9

114,025

8.9

-

-

-

-

1,285,061

100.0

1,063,892

82.8

221,169

17.2

2,414

100.0

International organizations
Total（Millions of Yen）
As of September 30, 2020
Foreign securities
Foreign bonds

Foreign stocks
and other foreign
securities

Loans to borrowers
outside Japan
AmountAmountPercentage

AmountPercentage

AmountPercentage

North America

441,22133.4

357,767

27.1

83,453

6.3--

Europe486,65436.8

478,999

36.3

7,655

0.6

-

-

Oceania

4,599

0.3

4,599

0.3

-

-

-

-

16

0.0

-

-

16

0.0

-

-

284,91721.6

95,7887.3

189,129

14.3

1,000

100.0

-

-

-

-

-

-

-

-

Asia
Latin America
Middle East
AfricaInternational organizations
Total

Percentage

-

-

-

-

-

-

-

-

103,495

7.8

103,495

7.8

-

-

-

-

1,320,904

100.0

1,040,649

78.8

280,255

21.2

1,000

100.0

Note:Categorization of region is based on location of issuers or borrowers.

11

Asahi Mutual Life Insurance Company

(Reference)
The following tables set forth the amounts of foreign investments based on the location of the issuers or borrowers, or types ofinvestments on which substantial risks exist as of the dates indicated.
（Millions of Yen）
As of March 31, 2020
Foreign securities
Foreign bonds
Amount Percentage Amount Percentage
North America
419,29432.6
385,34130.0
Europe195,255
15.2
195,255
15.2(sovereign bonds)
Europe(government affiliated financial
203,32315.8
203,323
15.8
institutions and corporates)
Oceania
2,322
0.2
2,322
0.2
Asia
21
0.0
Latin America
440
0.0
440
0.0
Middle East
AfricaInternational organizations
114,025
8.9
114,025
8.9
Reverse dual currency bonds, etc.
155,000
12.1
155,000
12.1
Other securities and loans
195,378
15.2
8,184
0.6
Total
1,285,061
100.0 1,063,892
82.8

Foreign stocks
and other foreign
securities
Amount Percentage
33,953
2.6

Loans to borrowers
outside Japan
Amount Percentage
-

-

-

-

-

-

-

-

-

21
187,194
221,169

0.0
14.6
17.2

2,414
2,414

100.0
100.0

（Millions of Yen）
As of September 30, 2020
Foreign securities
Foreign bonds
Amount Percentage Amount Percentage
North America
426,670
32.3
357,767
27.1
Europe171,02912.9
171,029
12.9(sovereign bonds)
Europe(government affiliated financial
222,087
16.8
222,087
16.8
institutions and corporates)
Oceania
4,599
0.3
4,599
0.3
Asia
16
0.0
Latin America
462
0.0
462
0.0
Middle East
AfricaInternational organizations
103,495
7.8
103,495
7.8
Reverse dual currency bonds, etc.
172,882
13.1
172,882
13.1
Other securities and loans
219,662
16.6
8,325
0.6
Total
1,320,904
100.0 1,040,649
78.8

Foreign stocks
and other foreign
securities
Amount Percentage
68,902
5.2

Loans to borrowers
outside Japan
Amount Percentage
-

-

-

-

-

-

-

-

-

16
211,336
280,255

0.0
16.0
21.2

1,000
1,000

100.0
100.0

Notes:
1.Reverse dual currency bonds, etc. consists of JGB repackaged reverse dual currency bonds and JGB repackaged foreign currency-denomintatedbonds.
2.Other securities and loans consists of preferred securities issued by funding subsidiaries of large Japanese banking entities, mutual funds, hedge
funds and others.

12

Asahi Mutual Life Insurance Company

（3） Foreign Currency-denominated Assets by Currency （General Account）（Millions of Yen）
As of March 31, 2020
As of September 30, 2020
AmountPercentage

AmountPercentage

U.S. dollars

550,82451.4

574,25651.5

Australian dollars

130,823

12.2

175,113

15.7

Euro

121,774

11.4

98,365

8.8

Polish zloty

82,206

7.7

87,901

7.9

New Zealand dollars

76,966

7.2

87,573

7.9

Canadian dollars

59,371

5.5

64,054

5.7

Swedish krona

49,358

4.6

28,063

2.5

17

0.0

14

0.0

1,071,343

100.0

1,115,342

100.0

Other currencies
Total(Reference)
The following table sets forth the amounts and percentage of foreign currencydenominated assets which include assets other than foreign investments (mainly foreign
currency-denominated domestic bonds) in general account.

As of March 31, 2020
AmountPercentage（Millions of Yen）
As of September 30, 2020
AmountPercentage

U.S. dollars

848,19460.8

859,066

60.1

Australian dollars

155,25211.1

204,021

14.3

Euro

122,805

8.8

99,548

7.0

Polish zloty

82,206

5.9

87,901

6.1

New Zealand dollars

76,966

5.5

87,573

6.1

Canadian dollars

59,371

4.3

64,054

4.5

Swedish krona

49,358

3.5

28,063

2.0

17

0.0

14

0.0

1,394,173

100.0

1,430,244

100.0

Other currencies
Total

13

Asahi Mutual Life Insurance Company

Ⅱ．Separate Account１．Individual Variable Insurance （Separate Account)（1） Fair Value Information on Securities （Separate Account)(ⅰ) Net Valuation Gains/Losses on Trading Securities （Separate Account)（Millions of Yen)
As of September 30, 2020

As of March 31, 2020
Net valuation
gains(losses) included in
the statements of income

AmountTrading securities

20,372

Net valuation
gains(losses) included in
the statements of income

Amount(1,517)23,4722,180

Note: Net valuation gains(losses) include reversal of gains(losses) on valuation of securities from the previous fiscal year.
(ⅱ) Breakdown of Securities （Separate Account)（Millions of Yen)
As of March 31, 2020

As of September 30, 2020

AmountAmountDomestic bonds

5,780

6,169

Domestic stocks

5,641

7,354

Foreign securities

8,950

9,948

Foreign bonds

3,415

3,455

Foreign stocks
and other foreign
securities

5,534

6,492

-

-

Other securities

Total
20,372
23,472
Note: The table above includes assets which are considered appropriate to deem as securities under the Financial
Instruments and Exchange Act.
（2） Fair Value Information on Derivative Transactions （Separate Account)(ⅰ) Interest-related Transactions (Separate Account)
No ending balance as of September 30, 2020 and as of March 31, 2020.
(ⅱ) Currency-related Transactions (Separate Account)
No ending balance as of September 30, 2020 and as of March 31, 2020.
(ⅲ) Stock-related Transactions （Separate Account)
No ending balance as of September 30, 2020 and as of March 31, 2020.
(ⅳ) Bond-related Transactions （Separate Account)
No ending balance as of September 30, 2020 and as of March 31, 2020.

２．Individual Variable Annuities （Separate Account)
The Company does not have individual variable annuity contracts in force.

14

Asahi Mutual Life Insurance Company

Ⅲ．Company Total of General Account and Separate Account
１．Asset Composition （Company Total）（Millions of Yen）
As of September 30, 2020
General account Separate accountCash, deposits and call loans

Total

130,117

1,983

132,101---

Domestic bonds

2,738,845

6,169

2,745,014

Domestic stocks

344,556

7,354

351,911

Foreign securities

1,320,904

9,948

1,330,852

Loans

315,873-

315,873

Real estate

377,615-377,615

Total assets

5,418,022

25,521

5,443,599

1,430,244

9,997

1,440,241

Money held in trust

Foreign currency-denominated assets

15

Asahi Mutual Life Insurance Company

2. Fair Value Information on Securities （Company Total）（1） Fair Value Information on Securities（Company Total）(ⅰ) Net Valuation Gains/Losses on Trading Securities（Company Total）
As of March 31, 2020
Net valuation
gains(losses) included
Amountin the statements ofincome20,372(1,517)

Trading securities（Millions of Yen)
As of September 30, 2020
Net valuation
gains(losses) included
Amountin the statements ofincome23,4722,180(ⅱ) Fair Value Information on Securities （with fair value, other than trading securities）（Company Total）

Book
value

As of March 31, 2020
Gains/losses
Fair value
Gains
Losses

Held-to-maturity debt
334,467 373,755
securities
Policy-reserve-matching
2,050,330 2,353,584
bonds
Stocks of subsidiaries
Available-for-sale securities 1,845,623 1,975,488
Domestic bonds
507,110 518,502
Domestic stocks
169,376 262,450
Foreign securities
1,093,700 1,129,950
Foreign bonds
862,807 908,792
Foreign stocks andother foreign securities

230,892

221,157

(5)

Book
value

（Millions of Yen)
As of September 30, 2020
Gains/losses
Fair value
Gains
Losses326,673

367,934

41,261

41,269(7)39,28839,294

303,254304,294(1,040) 2,046,827 2,296,433

249,605

255,451(5,845)

129,864
11,392
93,07336,24945,984

192,293
15,757
116,456
59,561
58,080(62,429) 1,890,415 2,114,762(4,364) 525,973 545,519(23,382) 174,295 324,610(23,312) 1,107,413 1,165,794(12,095) 822,353 885,549

224,347
19,546150,31458,381
63,195

270,758
22,289169,560
77,97371,921(46,411)(2,742)(19,246)(19,592)(8,725)(9,735)

1,481(4,814)

6,051(10,866)(11,216)

285,060

280,245

Other securities
74,59563,666(10,929)439(11,369)
81,82577,855(3,970)858(4,829)
Monetary claims bought
840
918
78
78
906
983
76
76
Negotiable certificatesof deposit
OthersTotal
4,230,421 4,702,828 472,407 535,882(63,475) 4,263,916 4,779,131 515,215 567,479(52,264)
Domestic bonds
2,710,810 3,033,735 322,924 328,335(5,411) 2,719,299 2,996,182 276,883 285,479(8,596)
Domestic stocks
169,376 262,450
93,073 116,456(23,382) 174,295 324,610 150,314 169,560(19,246)
Foreign securities
1,248,800 1,313,179
64,37887,691(23,312) 1,262,513 1,351,736
89,223 108,815(19,592)
Foreign bonds
1,017,907 1,092,021
74,114
86,209(12,095) 977,453 1,071,491
94,037 102,763(8,725)
Foreign stocks and
230,892 221,157(9,735)
1,481(11,216) 285,060 280,245(4,814)
6,051(10,866)
other foreign securities
Other securities
74,59563,666(10,929)439(11,369)
81,82577,855(3,970)858(4,829)
Monetary claims bought
26,837
29,796
2,959
2,959
25,981
28,7462,765
2,765
Negotiable certificatesof deposit
OthersNote: The table above includes assets which are considered appropriate to deem as securities under the Financial Instruments and Exchange Act.
*Book value of securities without fair value is as follows:

6,694
13,340（Millions of Yen)
As of September 30,
2020
6,694
13,263

13,327

13,25212

11

20,035

19,957

As of March 31,
2020
Held-to-maturity debt securities
Unlisted foreign bonds
Others
Policy-reserve-matching bonds
Stocks of subsidiaries
Available-for-sale securities
Unlisted domestic stocks(except over-the-counter stocks)
Unlisted foreign stocks(except over-the-counter stocks)
Unlisted foreign bonds
OthersTotal

16

Asahi Mutual Life Insurance Company

○Held-to-maturity Debt Securities

Held-to-maturity debt securities
with unrealized gains
Domestic bonds
Foreign securities
Monetary claims bought
Others
Held-to-maturity debt securities
with unrealized losses
Domestic bonds
Foreign securities
Monetary claims bought
Others○Policy-reserve-matching Bonds

Policy-reserve-matching bonds
with unrealized gains
Domestic bonds
Foreign securities
Others
Policy-reserve-matching bonds
with unrealized losses
Domestic bonds
Foreign securities
Others（Millions of Yen)
As of March 31, 2020
As of September 30, 2020
Balance sheet
Balance sheet
Fair value
Gains/losses
Fair value
Gains/losses
amountamount330,959

370,253

39,294

322,565

363,835

41,269149,862
155,100
25,997-

158,145
183,229
28,878-

8,283
28,1292,881-

142,390
155,100
25,075-150,129
185,942
27,763-

7,738
30,842
2,688
-

3,507

3,502

(5)

4,107

4,099

(7)

3,507
-

3,502
-

(5)
-

4,107
-

4,099
-

(7)
-

（Millions of Yen)
As of March 31, 2020
As of September 30, 2020
Balance sheet
Balance sheet
Fair value
Gains/losses
Fair value
Gains/losses
amountamount1,983,517

2,287,812

304,294

1,852,242

2,107,694

255,451

1,983,517-

2,287,812-

304,294-

1,852,242-

2,107,694-

255,451-

66,81365,772(1,040)

194,585

188,739(5,845)66,813-65,772-(1,040)-

194,585-

188,739-(5,845)-○Marketable Available-for-sale Securities
As of March 31, 2020
Balance sheet
Book value
Gains/losses
amountMarketable available-for-salesecurities with unrealized gains
Domestic bonds
Domestic stocks
Foreign securities
Other securities
Monetary claims bought
Negotiable certificatesof deposit
OthersMarketable available-for-salesecurities with unrealized losses
Domestic bonds
Domestic stocks
Foreign securities
Other securities
Monetary claims bought
Negotiable certificatesof deposit
Others（Millions of Yen)
As of September 30, 2020
Balance sheet
Book value
Gains/losses
amount1,237,876

1,430,170

192,293

1,361,006

1,631,765

270,758

376,567
102,275
750,6597,533
840

392,325
218,731810,221
7,972
918

15,757
116,456
59,561439
78

447,900
108,864770,589
32,745906

470,189
278,425
848,562
33,604983

22,289169,560
77,973
858
76

-

-

-

-

-

-

-

-

-

-

-

-

607,747

545,317(62,429)

529,408

482,997(46,411)130,542
67,101
343,041
67,062-

126,177
43,718319,728
55,693-(4,364)(23,382)(23,312)(11,369)-

78,07265,430336,824
49,080-75,32946,184317,232
44,251-(2,742)(19,246)(19,592)(4,829)
-

-

-

-

-

-

-

-

-

-

-

-

-

17

Asahi Mutual Life Insurance Company

（2）Fair Value Information on Derivative Transactions (Company Total)（ⅰ）Gains and Losses on Derivatives （Hedge Accounting Applied and Hedge Accounting Not Applied） (Company Total)（Millions of Yen)
As of March 31, 2020
Hedge accounting applied
Hedge accounting not applied
Total

Interest- Currencyrelated
related20,684566
21,251

Stockrelated

Bondrelated-

Others-Total-

20,684566
21,251

Note: Gains/losses on derivative financial instruments with fair value hedge accounting applied (currency-related, gain of 20,684 million yen) andgains/losses on derivative financial instruments with hedge accounting not applied are reported in the statements of income.

（Millions of Yen)
As of September 30, 2020
Hedge accounting applied
Hedge accounting not applied
Total

Interest- Currencyrelated
related
5,921
315
6,237

Stockrelated

Bondrelated-

Others
-

Total
-

5,921
315
6,237

Note: Gains/losses on derivative financial instruments with fair value hedge accounting applied (currency-related, gain of 5,921 million yen) andgains/losses on derivative financial instruments with hedge accounting not applied are reported in the statements of income.

（ⅱ）Hedge Accounting Not Applied (Company Total)①Interest-related Transactions (Company Total)
No ending balance as of September 30, 2020 and as of March 31, 2020.
②Currency-related Transactions (Company Total)
As of March 31, 2020
Notional amount/contract value
Fair value
over 1 year

Over the counter
Currency forward contracts
Sold
U.S. dollars
Australian dollars
Canadian dollars
Euro
OthersBoughtU.S. dollars
Australian dollars
Canadian dollars
Euro
OthersCurrency options
Sold
Call options
U.S. dollars
Put options
U.S. dollars
BoughtCall options
U.S. dollars
Put options
U.S. dollars
Currency swaps
OthersSold
BoughtGains/
losses39,305
31,107
8,120
78
7,180
7,180
-

-

621
(361)
983
(0)
(54)
(54)
-

621
(361)
983
(0)
(54)
(54)
-

[-]
[-]
[-]
[-]

-

-

[-]
[-]
[-]
[-]
-

-

-

-

-

[-]
[-]

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total

（Millions of Yen)
As of September 30, 2020
Notional amount/
Gains/
contract value
Fair value
lossesover 1 year

43,29033,551
3,080
6,659
26,278
16,588
3,116
6,573
-

-

[-]
[-]
[-]
[-]

-

[-]
[-]
[-]
[-]
-

-

[-]
[-]

253
309
(50)
(5)
-

253
309
(50)
(5)
-

61
36
14
10

61
36
14
10

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

566

315

Notes:
1.Figures in [ ] are option premiums.
2.Gains/losses represent the fair value for currency forward contracts and difference between option premiums and fair value for currency options.

18

Asahi Mutual Life Insurance Company

③Stock-related Transactions （Company Total）
No ending balance as of September 30, 2020 and as of March 31, 2020.
④Bond-related Transactions （Company Total）
No ending balance as of September 30, 2020 and as of March 31, 2020.

19

Asahi Mutual Life Insurance Company

（ⅲ）Hedge Accounting Applied (Company Total)①Interest-related Transactions (Company Total)
No ending balance as of September 30, 2020 and as of March 31, 2020.
②Currency-related Transactions (Company Total)
Method ofhedge
accounting

Hedgeditems

As of March 31, 2020
Notional amount/
Gains/
contract value
Fair value
lossesover 1 year

Hedgeditems（Millions of Yen)
As of September 30, 2020
Notional amount/
Gains/
contract value
Fair value
lossesover 1 year

Currency forward
contracts
Sold
1,321,192
U.S. dollars
756,812Australian dollars Foreign163,235
Fair value
Canadian dollars
currency
59,109hedge
Eurodenominated 125,285
Othersbonds
216,748
BoughtU.S. dollars
Australian dollars
Canadian dollars
Euro
OthersCurrency options
Sold
Call options[-]
U.S. dollars[-]
Put options[-]
U.S. dollars[-]
BoughtCall options[-]
U.S. dollars[-]
Put options[-]
U.S. dollars[-]
Currency swaps
OthersSold[-]
Bought
[-]
Total

-

20,684(3,641)
9,622
(980)
808
14,875-

20,684
1,289,606(3,641)
722,904
9,622
Foreign200,855(980) currency
64,008808 denominated98,62914,875bonds
203,208
-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,921
1,135
361
493
107
3,824
-

5,921
1,135
361
493
107
3,824
-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

[-]
[-]
[-]
[-]

-

[-]
[-]
[-]
[-]
-

-

-

-

-

[-]
[-]

-

-

-

-

-

-

-

-

20,684

5,921

Notes:
1.Figures in [ ] are option premiums.
2.Gains/losses represent the fair value for currency forward contracts and difference between option premiums and fair value for currency options.
3.Assets and liabilities which are denominated in foreign currencies but have fixed settlement amounts in yen under currency-related derivative transactions
are reported in yen amounts in the balance sheets and those currency-related derivative transactions are excluded from the table above.

③Stock-related Transactions （Company Total）
No ending balance as of September 30, 2020 and as of March 31, 2020.
④Bond-related Transactions （Company Total）
No ending balance as of September 30, 2020 and as of March 31, 2020.

20

Asahi Mutual Life Insurance Company

Ⅳ．Breakdown of Allowance for Possible Loan Losses（Millions of Yen)
As of March 31, 2020

As of September 30, 2020

Allowance for possible loan losses

391

338

(52)

General allowance for possible loan losses

46

22

(23)

Specific allowance for possible loan losses

344

315

(29)

-

-

-

Allowance for specified overseas loans

Changes

Ⅴ． Policy Reserves Accumulation Method and Ratio for Individual Insurance and Annuities
As of September 30, 2019 As of September 30, 2020
Policies subject to thestandard policy reserves
Accumulation
Policies not subject to themethodstandard policy reserves
Accumulation ratio(excluding contingency
reserve)

As of March 31, 2020

Method prescribed by the Method prescribed by the Method prescribed by the
Ministry of Finance Public Ministry of Finance Public Ministry of Finance Public
Notice No.48, 1996
Notice No.48, 1996
Notice No.48, 1996
Net level premium method Net level premium method Net level premium method

100.0%

100.0%

100.0%

Notes:
1.The accumulation method and ratio apply to policy reserves for individual insurance and individual annuities.
The table above excludes policy reserves for group insurance and group annuities because these policies are not subject toaccumulation method under the Ministry of Finance Public Notice No.48, 1996.
2.The accumulation ratio for policies subject to the standard policy reserves is calculated using a method prescribed by the Ministry of
Finance Public Notice No.48, 1996.
The accumulation ratio for policies not subject to the standard policy reserves represents the ratio for premium reserve calculatedusing the net level premium method and unearned premium reserve.

21

Asahi Mutual Life Insurance Company