May 28, 2020

Supplementary Materials for the Fiscal Year Ended March 31, 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

(4) Allowance for Specified Overseas Loans

･････

Ｐ１3

(1) Fair Value Information on Securities

･････

Ｐ１4

(2) Information on Derivative Transactions

･････

Ｐ１5

･････

Ｐ１5

･････

Ｐ１6

(1) Fair Value Information on Securities

･････

Ｐ１7

(2) Fair Value Information on Derivative Transactions

･････

Ｐ１9

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

･････

Ｐ22

Ⅴ．Breakdown of Allowance for Possible Loan Losses

･････

Ｐ22

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)

National government bonds

As of March 31, 2019

As of March 31, 2020

AmountAmountPercentage

Percentage

1,786,946

42.2

1,723,627

39.6

Local government bonds

49,768

1.2

54,671

1.3

Corporate bonds

933,37122.1

943,904

21.7

403,652

9.5

427,378

9.8

Domestic stocks

311,699

7.4

282,473

6.5

Foreign securities

1,078,849

25.5

1,285,061

29.5

Foreign bonds

893,733

21.1

1,063,892

24.4

Foreign stocks andother foreign securities

185,115

4.4

221,169

5.1

71,411

1.7

63,6661.5

4,232,046

100.0

4,353,404

100.0

Public entity bonds

Other securities
Total

1

Asahi Mutual Life Insurance Company

(2）Securities by Contractual Maturity Date （General Account）
As of March 31, 2019

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

Other securities
Monetary claims bought
Negotiable certificates ofdeposit
Others

Total(Millions of Yen）

Due after Due after Due after
3 years to 5 years to 7 years to
5 years
7 years
10 years

Due in1 yearor less

Due after
1 year to
3 years

81,141

141,383

213,413385,035

840,936

15,79930,07527,87847,951

327,288 1,337,952 1,786,946

2,009

5,851

4,620

1,103

309

52,39673,243103,098

122,570

101,348

10,8872,760

29,36529,36573,141
73,141

213,410207,040

409,248
387,727

480,713
933,371
311,699
311,699
342,797 1,078,849
193,698
893,733

8,126

-

-

6,369

21,520149,098

185,115

49
-

2,847
-

4,673
-

-

2,742
-

61,09828,984

71,411
28,984

-

-

-

-

-

-

-

81,141

141,383

213,413385,035

Foreign stocks andother foreign securities

Other securities
Monetary claims bought
Negotiable certificates ofdeposit
OthersTotal

35,87449,768840,936 2,599,120 4,261,031

As of March 31, 2020

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

Due after
10 years or
having no
Total
maturity
date
2,570,135 4,232,046(Millions of Yen）

Due after Due after Due after
3 years to 5 years to 7 years to
5 years
7 years
10 years

Due after
10 years or
having no
Total
maturity
date
2,508,833 4,353,404

Due in1 yearor less

Due after
1 year to
3 years

52,184

188,214367,561

422,717

813,893

13,945

26,52150,443

109,304

345,357 1,178,055 1,723,627

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

422,7172

42,52954,671

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

Asahi Mutual Life Insurance Company

（3) Domestic Stocks by Industry （General Account）

Forestry and fisheries
MiningConstruction
Manufacturing industry

As of March 31, 2019
AmountPercentage
31
0.0
4,775
1.5

(Millions of Yen）
As of March 31, 2020
AmountPercentage
26
0.0
4,125
1.5

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
Commerce

2,220
12
91
45,816607
22,882696
1,596
12,503293
5,325
50,602
5,626
331
6,168
338

0.7
0.0
0.0
14.7
0.2
7.3
0.2
0.5
4.0
0.1
1.7
16.2
1.8
0.1
2.0
0.1

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
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

52,151
3
1,712
1,574

16.7
0.0
0.5
0.5

39,372
1
1,491
1,557

13.9
0.0
0.5
0.6

Wholesale
RetailFinancial industries

48,826
2,415

15.7
0.8

55,184
2,367

19.5
0.8

Banks
Securities and trading companies
Insurance
OthersReal estate
Service
Total

29,054
6,268
1,998
3,681
1,310
2,782
311,699

9.3
2.0
0.6
1.2
0.4
0.9
100.0

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

11.2
2.1
0.7
1.1
0.5
0.8
100.0

3

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, 2019

Interestrelated

Hedge accounting applied
Hedge accounting not applied
Total

-

Currencyrelated
194
221
416

Stockrelated

Bondrelated-

Others
-

Total
-

194
221
416

Note:
Gains/losses on derivative financial instruments with fair value hedge accounting applied (currency-related, gain of 194 million yen) and gains/losses on derivative
financial instruments with hedge accounting not applied are reported in the statements of income.

(Millions of Yen）
As of March 31, 2020

Interestrelated

Hedge accounting applied
Hedge accounting not applied
Total

-

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) and gains/losses onderivative 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 March 31, 2020 and 2019.
(ⅲ) Currency-related Transactions (General Account)(Millions of Yen）
As of March 31, 2020

As of March 31, 2019
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/
lossesover 1 year

933,571495,008
136,216
23,706
111,845
166,793
44,14028,973
15,166

-

382
(761)
18
165
269
691
185
148
36

382 1,360,498(761) 787,920
18
171,355
165
59,187269
125,285691
216,748
185
7,180
148
7,180
36
-

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

-

-

[-]
[-]
124,015[349]
124,015
[349]
-

-

-

-

(151)
-

[-]
[-]

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

198

(151)

198

Total

416

-

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

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

-

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

-

-

-

-

[-]
[-]

-

-

-

-

-

-

-

-

21,251

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.

4

Asahi Mutual Life Insurance Company

(ⅳ) Stock-related Transactions (General Account)
No ending balance as of March 31, 2020 and 2019.

(ⅴ) Bond-related Transactions （General Account）
No ending balance as of March 31, 2020 and 2019.

5

Asahi Mutual Life Insurance Company

２．Loans （General Account）（1） Breakdown of Loans （General Account）(Millions of Yen）
As of March 31, 2019

As of March 31, 2020

44,27240,553

Policyholder loans

40,65937,216Premium loans

3,612

3,337

382,531

337,359(2,442)
378,396(375,953)(2,414)
333,785(331,370)

439

390

2,530

2,530

232

177

934

464

-

10

426,804

377,913

Policy loans

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
Mortgage loans
Consumer loans
OthersTotal（2）Loans by Contractual Maturity Date （General Account）

Due in1 yearor less

Due after
1 year to
3 years

Due after
3 years to
5 years

Due after
5 years to
7 years(Millions of Yen）
Due after
Due after 10 years or
7 years to having no
Total
10 years
maturitydate

As of March 31, 2019
Floating-rate loans

4,681

6,322

6,260

2,293

164

18,057

37,779Fixed-rate loans

69,864

112,893

68,114

48,28327,40818,186

344,752

Total

74,546

119,216

74,37550,577

27,572

36,243

382,531

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

As of March 31, 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, 2019

As of March 31, 2020

Percentage
Large
corporations

Medium-sizedcorporations

Small-sizedcorporations

Number of borrowers

Percentage

83

79.0

77

75.5

340,44790.6

290,371

87.6

Number of borrowers

1

1.0

-

-

Amount of loans

25

0.0

-

-

Number of borrowers

21

20.0

25

24.5

35,481

9.4

40,999

12.4

105

100.0

102

100.0

375,953100.0

331,370

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)
As of March 31, 2019
AmountPercentage
Domestic
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（Millions of Yen）
As of March 31, 2020
AmountPercentage

53,092
300
1,800
800
7,729
800
540
12,003
20,214
7,139
1,000
15
750
1,180
8,577
1,111
41,64967,3101,226
130,902
22,64742,861

13.9
0.1
0.5
0.2
2.0
0.2
0.1
3.1
5.3
1.9
0.3
0.0
0.2
0.3
2.2
0.3
10.9
17.6
0.3
34.2
5.9
11.2

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

-

-

-

-

153
7,060
1,150
1,166
380,088

0.0
1.8
0.3
0.3
99.4

6,792
1,150
642
334,944

2.0
0.3
0.2
99.3

2,442
2,442
382,531

0.6
0.6
100.0

2,414
2,414
337,359

0.7
0.7
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, 2019

（Millions of Yen）
As of March 31, 2020

AmountAmountSecured loans
Loans secured by securities
Loans secured by real estate,
movable assets and foundations

Percentage

Percentage

4,361

1.1

7,645

2.3

3,610

0.9

2,683

0.8

750

0.2

3,985

1.2

Loans secured by personal
guarantees
Guaranteed loans

-

-

976

0.3

10,063

2.6

8,376

2.5

Unsecured loans

366,940

95.9

320,694

95.1

Others

1,166

0.3

642

0.2

Total

382,531100.0

337,359

100.0

23,446

6.1

27,8798.3

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, 2019
AmountPercentage
730,54367.1
28
0.0
124,453
11.4
855,025
78.5（Millions of Yen）
As of March 31, 2020
AmountPercentage
900,69069.5
260.0
170,62713.2
1,071,343
82.7（ⅱ） Assets Swapped into Yen （General Account）

Foreign bonds
Cash, deposits and other assets
Subtotal

As of March 31, 2019
AmountPercentage-（Millions of Yen）
As of March 31, 2020
AmountPercentage-（ⅲ） Assets Denominated in Yen （General Account）

Loans to borrowers outside Japan
Foreign bonds and other assets
Subtotal

As of March 31, 2019
AmountPercentage
1,000
0.1
232,48721.4
233,487
21.5（Millions of Yen）
As of March 31, 2020
AmountPercentage
1,000
0.1
223,45317.2
224,453
17.3

As of March 31, 2019
AmountPercentage
1,088,513
100.0-（Millions of Yen）
As of March 31, 2020
AmountPercentage
1,295,797
100.0-（ⅳ） Total （General Account）

Total foreign investments
Foreign real estate

Note: Assets swapped into yen are assets whose settlement amounts are fixed into yen by foreign
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, 2019
Foreign securities
Foreign bonds

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

AmountPercentage

AmountPercentage

North America

306,83628.4

267,23624.8

39,6003.7--

Europe443,892

41.1

438,223

40.6

5,669

0.5

-

-

Oceania

-

-

-

-

-

-

-

-

Asia

23

0.0

-

-

23

0.0

-

-

235,497

21.8

95,6748.9

139,822

13.0

2,442

100.0

-

-

-

-

-

-

-

-

Latin America
Middle East
AfricaInternational organizations
Total

-

-

-

-

-

-

-

-

92,598

8.6

92,598

8.6

-

-

-

-

1,078,849

100.0

893,733

82.8

185,115

17.2

2,442

100.0

（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

-

-

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

-

-

-

-

Total
1,285,061
100.0 1,063,892
82.8
221,169
Note:Categorization of region is based on location of issuers or borrowers.

17.2

2,414

100.0

Asia
Latin America

International organizations

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 type of investments on which substantial risks exist as of the dates indicated.
（Millions of Yen）
As of March 31, 2019
Foreign securities
Foreign bonds

North America
Europe(sovereign bonds)
Europe(government affiliated financial
institutions and corporates)
Oceania
Asia
Latin America
Middle East
AfricaInternational organizations
Reverse dual currency bonds
Other securities and loans
Total

Foreign stocks
and other foreign
securities
AmountPercentage
34,068
3.2

Amount301,305

Percentage
27.9

Amount267,236

Percentage
24.8

198,674

18.4

198,674

18.4-

171,54815.9

171,548

15.9

23
445
92,598155,000
159,253
1,078,849

0.0
0.0
8.6
14.4
14.8
100.0

445
92,598155,000
8,229
893,733

0.0
8.6
14.4
0.8
82.8

Loans to borrowers
outside Japan
Amount-Percentage
-

-

-

-

-

-

-

-

23
151,023
185,115

0.0
14.0
17.2

2,442
2,442

100.0
100.0

（Millions of Yen）
As of March 31, 2020
Foreign securities
Foreign bonds

North America
Europe(sovereign bonds)
Europe(government affiliated financial
institutions and corporates)
Oceania
Asia
Latin America
Middle East
AfricaInternational organizations
Reverse dual currency bonds
Other securities and loans
Total

Foreign stocks
and other foreign
securities
AmountPercentage
33,953
2.6

Amount419,294

Percentage
32.6

Amount385,341

Percentage
30.0

195,255

15.2

195,255

15.2-

203,32315.8

203,323

15.8

2,322
21
440
114,025
155,000
195,378
1,285,061

0.2
0.0
0.0
8.9
12.1
15.2
100.0

2,322
440
114,025
155,000
8,184
1,063,892

0.2
0.0
8.9
12.1
0.6
82.8

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

Notes:
1.Reverse dual currency bonds are repackaged bonds, whose underlying assets are Japanese Government Bonds.
2.Other securities and loans consist 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, 2019
As of March 31, 2020
AmountPercentage

AmountPercentage

U.S. dollars

408,300

47.8

550,824

51.4

Australian dollars

121,33114.2

130,823

12.2

Euro

113,12113.2

121,774

11.4

Polish zloty

83,881

9.8

82,206

7.7

New Zealand dollars

58,802

6.9

76,966

7.2

Canadian dollars

42,126

4.9

59,371

5.5

Swedish krona

27,4393.2

49,358

4.6

21

0.0

17

0.0

855,025100.0

1,071,343

100.0

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

As of March 31, 2019

（Millions of Yen）
As of March 31, 2020

AmountAmountPercentage

Percentage

U.S. dollars

735,852

60.7

848,19460.8

Australian dollars

149,71412.4

155,252

11.1

Euro

114,296

9.4

122,805

8.8

Polish zloty

83,881

6.9

82,206

5.9

New Zealand dollars

58,802

4.9

76,966

5.5

Canadian dollars

42,126

3.5

59,371

4.3

Swedish krona

27,4392.3

49,358

3.5

21

0.0

17

0.0

1,212,135

100.0

1,394,173

100.0

Other currencies
Total（4） Allowance for Specified Overseas Loans （General Account）（Millions of Yen)
As of March 31, 2020

As of March 31, 2019
Number of debtor countries--

Amounts of credit--

Net provision--

Ending balance

-

-

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 March 31, 2020

As of March 31, 2019
AmountTrading securities

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

25,410(194)

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

20,372(1,517)

Note: Net valuation gains(losses) include reversal of gains(losses) on valuation of securities from theprevious fiscal year.
(ⅱ) Breakdown of Securities （Separate Account)（Millions of Yen)
As of March 31, 2019 As of March 31, 2020
AmountAmount
5,326
5,780
9,265
5,641
10,819
8,950
4,032
3,415

Domestic bonds
Domestic stocks
Foreign securities
Foreign bonds
Foreign stocks
and other foreign
6,786
securities
Other securities
Total
25,410Note: The table above includes assets which are consideredappropriate to deem as securities under the Financial
Instruments and Exchange Act.

14

5,534
20,372Asahi Mutual Life Insurance Company

（2） Information on Derivative Transactions （Separate Account)(ⅰ) Gains and Losses on Derivatives （Hedge Accounting Applied and Hedge Accounting Not Applied）（Separate Account)(Millions of Yen）

Hedge accounting applied-

Currencyrelated
-

-

-

-

-

Hedge accounting not applied

-

(0)

-

-

-

(0)

-

(0)

-

-

-

(0)

As of March 31, 2019

Interestrelated

Total

Stockrelated

Bondrelated

Others

Total(Millions of Yen）

Hedge accounting applied-

Currencyrelated
-

-

-

-

-

Hedge accounting not applied

-

-

-

-

-

-

-

-

-

-

-

-

As of March 31, 2020

Total

Interestrelated

Stockrelated

Bondrelated

Others

Total

Note:
Gains/losses on derivative financial instruments with hedge accounting not applied are reported in the statements of income.

(ⅱ) Interest-related Transactions （Separate Account)
No ending balance as of March 31, 2020 and 2019.
(ⅲ) Currency-related Transactions （Separate Account)
As of March 31, 2019
Notional amount/contract value
Fair value
over 1 year

(Millions of Yen）
As of March 31, 2020
Notional amount/
Gains/
contract value
Fair value
lossesGains/
lossesover 1 year

Over the counter
Currency forward contracts
Sold
Swedish krona

0

-

(0)

(0)

-

-

-

-

0

-

(0)

(0)

-

-

-

-

Total

-

(0)

Note:
Gains/losses represent the fair value for currency forward contracts.

(ⅳ) Stock-related Transactions （Separate Account)
No ending balance as of March 31, 2020 and 2019.
(ⅴ) Bond-related Transactions （Separate Account)
No ending balance as of March 31, 2020 and 2019.

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

15

Asahi Mutual Life Insurance Company

Ⅲ．Company Total of General Account and Separate Account
１．Asset Composition （Company Total）（Asset composition of general account and separate account）（Millions of Yen）
As of March 31, 2020
General account Separate accountTotal
109,934
2,619
112,554
2,722,203
5,780
2,727,984
282,473
5,641
288,114
1,285,061
8,950
1,294,012
377,913377,913377,871
377,8715,364,268
24,381
5,388,655
1,394,173
9,000
1,403,173

Cash, deposits and call loans
Money held in trust
Domestic bonds
Domestic stocks
Foreign securities
Loans
Real estate
Total assets
Foreign currency-denominated assets

16

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, 2019
Net valuation
gains(losses) included
Amountin the statements ofincomeTrading securities

25,410（Millions of Yen)
As of March 31, 2020
Net valuation
gains(losses) included
Amountin the statements ofincome(194)

20,372(1,517)(ⅱ) Fair Value Information on Securities （with fair value, other than trading securities）（Company Total）
As of March 31, 2019
Gains/losses
Book value Fair value
Gains
Losses
Held-to-maturity debt
344,812391,680
securities
Policy-reserve-matching
2,074,484 2,407,849
bonds
Stocks of subsidiaries
Available-for-sale securities 1,682,582 1,811,255
Domestic bonds
530,817534,228
Domestic stocks
160,295
291,232
Foreign securities
916,943913,737
Foreign bonds
736,455
738,633
Foreign stocks andother foreign securities

180,487

175,104

46,867

46,872

333,364

373,755

39,28839,294(5)

335,418(2,053) 2,050,330 2,353,584

303,254304,294(1,040)128,673 175,552
3,410
10,624130,937 142,919(3,205) 21,317
2,177
20,629(46,878) 1,845,623 1,975,488(7,213) 507,110
518,502(11,982) 169,376
262,450(24,523) 1,093,700 1,129,950(18,452) 862,807
908,792

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

192,293
15,757
116,456
59,561
58,080(62,429)(4,364)(23,382)(23,312)(12,095)(9,735)

1,481(11,216)(5,383)688(5)（Millions of Yen)
As of March 31, 2020
Gains/losses
Book value Fair value
Gains
Losses(6,071)

334,467

230,892

221,157

Other securities
73,912
71,411(2,501)657(3,159)74,59563,666 (10,929)
439 (11,369)
Monetary claims bought
613
645
32
32
840
918
78
78
Negotiable certificatesof deposit
OthersTotal
4,101,879 4,610,785 508,906 557,843 (48,937) 4,230,421 4,702,828 472,407 535,882 (63,475)
Domestic bonds
2,766,675 3,114,133 347,458 356,731(9,272) 2,710,810 3,033,735 322,924 328,335(5,411)
Domestic stocks
160,295
291,232 130,937 142,919 (11,982) 169,376
262,450
93,073 116,456 (23,382)
Foreign securities
1,072,043 1,101,869
29,82654,349 (24,523) 1,248,800 1,313,179
64,37887,691 (23,312)
Foreign bonds
891,556
926,765
35,20953,661 (18,452) 1,017,907 1,092,021
74,114
86,209 (12,095)
Foreign stocks and180,487
175,104(5,383)688(6,071) 230,892
221,157(9,735)
1,481 (11,216)
other foreign securities
Other securities
73,912
71,411(2,501)657(3,159)74,59563,666 (10,929)
439 (11,369)
Monetary claims bought
28,952
32,1373,185
3,185
26,837
29,7962,959
2,959
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:（Millions of Yen)
As of March 31, 2019 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
Others
Total

17

6,649
23,8296,694
13,34013,817

13,327

10,012

12

30,47920,035

Asahi Mutual Life Insurance Company

○Held-to-maturity Debt Securities（Millions of Yen)
As of March 31, 2019
As of March 31, 2020
Balance
Balance
Fair value Gains/losses
Fair value Gains/losses
sheet amountsheet amountHeld-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
Others341,503388,376

46,872

330,959

370,253

39,294

158,064
155,100
28,339-168,752
188,131
31,492-

10,68733,031
3,153-

149,862
155,100
25,997-

158,145
183,229
28,878-

8,283
28,129
2,881
-

3,309

3,303

(5)

3,507

3,502

(5)

3,309
-

3,303
-

(5)
-

3,507
-

3,502
-

(5)
-

（Millions of Yen)
As of March 31, 2019
As of March 31, 2020
Balance
Balance
Fair value Gains/losses
Fair value Gains/losses
sheet amountsheet amount
2,007,121

2,342,540

335,418

1,983,517

2,287,812

304,294

2,007,121-

2,342,540-

335,418-

1,983,517-

2,287,812-

304,294-

67,36265,308(2,053)

66,81365,772(1,040)67,362-65,308-(2,053)-

66,813-65,772-(1,040)-○Marketable Available-for-sale Securities
As of March 31, 2019
BalanceBook value
Gains/losses
sheet 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 March 31, 2020
BalanceBook value
Gains/losses
sheet amount

955,292

1,130,844

175,552

1,237,876

1,430,170

192,293298,951
108,481
530,783
16,463
613

309,575
251,401
552,101
17,121645

10,624142,919
21,317657
32376,567
102,275
750,6597,533
840

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

15,757
116,456
59,561
439
78

-

-

-

-

-

-

-

-

-

-

-

-

727,289

680,411(46,878)

607,747

545,317(62,429)

231,866
51,814
386,160
57,449-224,652
39,831
361,636
54,290-(7,213)(11,982)(24,523)(3,159)-130,542
67,101
343,041
67,062-

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

-

-

-

-

-

-

-

-

-

-

-

-

18

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, 2019
Hedge accounting applied
Hedge accounting not applied
Total

Interestrelated-

Currencyrelated
194
221
416

Stockrelated

Bondrelated-

Others
-

Total
-

194
221
416

Note:
Gains/losses on derivative financial instruments with fair value hedge accounting applied (currency-related, gain of 194 million yen) and gains/losses onderivative financial instruments with hedge accounting not applied are reported in the statements of income.

（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) and gains/losses onderivative 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 March 31, 2020 and 2019.
②Currency-related Transactions (Company Total)
As of March 31, 2019
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/
losses83,49583,3981383
044,14028,973
15,166

-

36
37
(0)
(0)

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

-

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

-

-

-

-

[-]
[-]

-

-

-

-

-

-

-

36
37
(0)
(0)
-

(0)
185
148
-

(0)
185
148
-

36

-

36

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total

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

39,305
31,107
8,120
78
7,180
7,180
-

-

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

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

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

-

-

-

-

-

-

-

-

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

-

-

-

-

-

-

-

-

-

[-]
[-]

-

-

-

-

-

-

-

-

221

566

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.

19

Asahi Mutual Life Insurance Company

③Stock-related Transactions （Company Total）
No ending balance as of March 31, 2020 and 2019.
④Bond-related Transactions （Company Total）
No ending balance as of March 31, 2020 and 2019.

20

Asahi Mutual Life Insurance Company

（ⅲ）Hedge Accounting Applied (Company Total)①Interest-related Transactions (Company Total)
No ending balance as of March 31, 2020 and 2019.
②Currency-related Transactions (Company Total)
Method ofhedge
accounting

Hedgeditems

Currency forward
contracts
Sold
U.S. dollars
Australian dollars ForeignFair value
Canadian dollars
currency
hedgeEuro
denominated
Othersbonds
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
BoughtAs of March 31, 2019
Notional amount/contract value
Fair value
over 1 year

Gains/
losses850,075
411,610
136,203
23,622
111,845
166,793
-

-

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

-

[-]
[-]
124,015[349]
124,015
[349]
-

-

-

-

(151)
-

[-]
[-]

-

-

-

-

-

-

over 1 year

346
(799)
18
166
269
691
-

346
1,321,192(799)
756,81218
Foreign163,235
166
currency
59,109269 denominated125,285691
bonds
216,748
-

-

-

-

-

-

-

-

-

-

-

-

-

198

(151)

198

Total

Hedgeditems（Millions of Yen)
As of March 31, 2020
Notional amount/
Gains/
contract value
Fair value
losses-

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

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

-

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

-

-

-

-

[-]
[-]

-

-

-

-

-

-

-

-

194

20,684

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.

③ Stock-related Transactions （Company Total）
No ending balance as of March 31, 2020 and 2019.
④Bond-related Transactions （Company Total）
No ending balance as of March 31, 2020 and 2019.

21

Asahi Mutual Life Insurance Company

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

Policies subject to thestandard policy reserves
Accumulation
Policies not subject to themethodstandard policy reserves

As of March 31, 2019

As of March 31, 2020

Method prescribed by the
Ministry of Finance Public
Notice No.48, 1996

Method prescribed by the
Ministry of Finance Public
Notice No.48, 1996

Net level premium method

Net level premium method

100.0%

100.0%

Accumulation ratio(excluding contingency
reserve)

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 notsubject to accumulation 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 prescribedby 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 calculated using the net level premium method and unearned premium reserve.

Ⅴ．Breakdown of Allowance for Possible Loan Losses（Millions of Yen)
Year ended
March 31, 2019Year ended
March 31, 2020

Breakdown of allowance for possible loan losses
General allowance for possible loan losses
Specific allowance for possible loan losses
Allowance for specified overseas loans

48
327
-

46
344
-

(2)
17
-

Specific allowance for possible loan losses
Provision
Reversal （excluding reversal due to write-offs）
Net provision

11
56
(44)

15
4
10

3
(51)
55

Allowance for specified overseas loans
Number of debtor countries
Amounts of credit
Reversal---Write-offs of loans

0

0

0

22

ChangeAsahi Mutual Life Insurance Company