November 24, 2017

Supplementary Materials for the Six Months Ended September 30, 2017
［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) 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, 2017
AmountNational government bonds

Percentage

As of September 30, 2017
AmountPercentage

1,924,193

46.6

1,873,981

43.9

Local government bonds

55,636

1.3

55,876

1.3

Corporate bonds

915,806

22.2

984,86723.1

375,100

9.1

386,269

9.0

Domestic stocks

282,959

6.9

317,603

7.4

Foreign securities

869,024

21.1

948,551

22.2

Foreign bonds

642,030

15.6

682,119

16.0

Foreign stocks andother foreign securities

226,993

5.5

266,432

6.2

77,4871.9

90,6032.1

4,125,107

100.0

4,271,483

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, 2017

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

74,769159,817226,921230,856

609,118

7,736

26,06433,55928,626172,295 1,655,911 1,924,193

2,222

9,353

13,224

2,305

1,104

27,42555,63649,359107,396

97,406

87,976

158,718

14,5501,858

17,00317,00379,74379,743

108,157
108,157

275,558
265,538

414,948
282,959
374,011
169,730

915,806
282,959
869,024
642,030

12,692---

10,019204,281

226,993

901
-

-

2,987
-

3,790
-

1,441
-

68,36633,202

77,487
33,202

-

-

-

-

-

-

-

74,769159,817226,921230,856

609,118 2,856,825 4,158,309

As of September 30, 2017

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
OthersTotal

Due after
10 years or
having no
Total
maturity
date
2,823,622 4,125,107(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
2,853,868 4,271,483

Due in1 yearor less

Due after
1 year to
3 years

85,412

174,662

279,504

274,139

603,895

4,714

38,127

24,87024,772

194,321 1,587,174 1,873,981

5,509

10,377

9,166

2,908

500

27,41455,87661,42093,682

145,960

124,608

131,851

12,9991,305

32,45232,45296,49296,492

118,025
118,025

274,193272,675

427,343
317,603414,389
161,167

984,867
317,603
948,551
682,119

11,693

-

-

-

1,517

253,221

266,432

768
-

23
-

3,015
-

3,823
-

3,029
-

79,94331,56490,60331,564

-

-

-

-

-

-

-

85,412

174,662

279,504

274,1392

603,895 2,885,432 4,303,048

Asahi Mutual Life Insurance Company

（3) Domestic Stocks by Industry （General Account）

Forestry and fisheries
MiningConstruction
Manufacturing industry

As of March 31, 2017
AmountPercentage
32
0.0
3,761
1.3

(Millions of Yen）
As of September 30, 2017
AmountPercentage
34
0.0
3,809
1.2

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

2,431
18
88
32,765616
24,856154
1,322
14,427386
5,463
47,918
2,192
4
6,413
338

0.9
0.0
0.0
11.6
0.2
8.8
0.1
0.5
5.1
0.1
1.9
16.9
0.8
0.0
2.3
0.1

2,687
16
91
41,638660
24,049915
1,429
17,035362
7,750
54,944
3,135
4
6,987
338

0.8
0.0
0.0
13.1
0.2
7.6
0.3
0.5
5.4
0.1
2.4
17.3
1.0
0.0
2.2
0.1

43,068
3
1,930
1,448

15.2
0.0
0.7
0.5

52,570
3
1,948
1,560

16.6
0.0
0.6
0.5

Wholesale
RetailFinancial industries

39,841
3,612

14.1
1.3

44,065
3,764

13.9
1.2

Banks
Securities and trading companies
Insurance
OthersReal estate
Service
Total

34,983
6,348
245
4,022
1,321
2,940
282,959

12.4
2.2
0.1
1.4
0.5
1.0
100.0

32,869
6,142
410
4,237
1,309
2,830
317,603

10.3
1.9
0.1
1.3
0.4
0.9
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, 2017

Interestrelated

Hedge accounting applied
Hedge accounting not applied
Total

-

Currencyrelated
5,381
1,241
6,622

Stockrelated

Bondrelated

(20)
(20)

Others
-

Total
-

5,381
1,220
6,601

Note:
Gains/losses on derivative financial instruments with fair value hedge accounting applied (currency-related, gain of 5,381 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 September 30, 2017

Interestrelated

Hedge accounting applied
Hedge accounting not applied
Total

-

Currencyrelated(15,306)(976)(16,283)

Stockrelated

Bondrelated-

Others-Total-(15,306)(976)(16,283)

Note:
Gains/losses on derivative financial instruments with fair value hedge accounting applied (currency-related, loss of 15,306 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 September 30, 2017 and as of March 31, 2017(ⅲ) Currency-related Transactions (General Account)(Millions of Yen）
As of September 30, 2017

As of March 31, 2017
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
BoughtU.S. dollars
Australian dollars
Canadian dollars
Euro
Currency options
Sold
Call options
Put options
BoughtCall options
Put options
Currency swaps
OthersSold
BoughtFair value

Gains/
losses(16,237)(14,788)
(115)
(686)
(646)
(45)
(45)
-

(16,237)(14,788)
(115)
(686)
(646)
(45)
(45)
-

-

-

-

-

-

-

over 1 year

785,411696,366
44,572
24,536
19,935
14,723
14,723
-

-

6,544
5,927
(227)
637
206
77
77
-

6,544
5,927
(227)
637
206
77
77
-

[-]
[-]

-

-

[-]
[-]
-

-

-

-

-

[-]
[-]

-

-

-

-

-

-

-

-

-

-

-

Total

6,622

952,852
834,746
60,82824,932
32,344
74,14974,149
-

-

[-]
[-]

-

[-]
[-]
-

-

-

-

-

[-]
[-]

-

-

-

-

-

-

-

-

(16,283)

Notes:
1.The fair values of currency forward contracts are stated at theoretical prices based on TTM, WM Reuters rate, discount rate and others at balance sheet dates.
2.The fair values of currency forward contracts show gains/losses.
3.Assets and liabilities which are denominated in foreign currencies but have fixed settlement 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)(Millions of Yen）
As of September 30, 2017

As of March 31, 2017
Notional amount/
Gains/
contract value
Fair value
losses

Notional amount/
Gains/
contract value
Fair value
lossesover 1 year

Over the counter
Stock forward contracts
Sold
BoughtStock options
Sold
Call options

-

-

[-]
[-]

-

[-]
49,998
[20]

-

[-]
[-]

-

Put options
BoughtCall options
Put options
OthersSold
Boughtover 1 year

-

-

-

-

-

-

-

-

-

-

(20)

-

-

Total

-

-

-

[-]
[-]

-

[-]
[-]

-

[-]
[-]

-

(20)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Note:Figures in [ ] are option premiums.

(ⅴ) Bond-related Transactions （General Account）
No ending balance as of September 30, 2017 and as of March 31, 2017.

5

Asahi Mutual Life Insurance Company

２．Loans （General Account）（1） Breakdown of Loans （General Account）(Millions of Yen）
As of March 31, 2017

As of September 30, 201757,57753,639

Policyholder loans

52,77049,122Premium loans

4,806

4,516

500,184

458,594(-)
494,452(494,452)(-)
453,253(453,253)

699

651

2,530

2,530

454

407

2,010

1,718

38

32

557,761

512,233

56,30032,800

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
Others
Total
Subordinated loans（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, 2017
Floating-rate loans

2,531

11,946

3,183

77

1,702

25,00044,441

Fixed-rate loans

70,050118,692

96,72372,67861,494

36,103455,743

Total

72,582

130,639

99,90772,75563,196

61,103500,184

Floating-rate loans

2,322

11,673

8,597

58

1,701

28,00052,354

Fixed-rate loans

60,799153,563

69,01359,88347,733

15,245406,239

Total

63,122

165,237

77,611

59,94149,43543,245458,594

As of September 30, 2017

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, 2017

As of September 30, 2017

Percentage
Large
corporations

Medium-sizedcorporations

Small-sizedcorporations

Number of borrowers

Percentage

96

80.7

94

80.3

448,16990.6

408,091

90.0

1

0.8

1

0.9

Amount of loans

225

0.0

175

0.0

Number of borrowers

22

18.5

22

18.8

46,0579.3

44,987

9.9

119

100.0

117

100.0

494,452100.0

453,253

100.0

Amount of loans
Number of borrowers

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, 2017
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 September 30, 2017
AmountPercentage

75,946
2,120
6,000
3,840
36
12,298800
506
11,00025,388
7,185
1,000
5,055
716
2,160
16,5002,590
57,75983,3302,486
172,155
25,91649,750

15.2
0.4
1.2
0.8
0.0
2.5
0.2
0.1
2.2
5.1
1.4
0.2
1.0
0.1
0.4
3.3
0.5
11.5
16.7
0.5
34.4
5.2
9.9

75,930
90
6,000
3,824
18
11,700800
591
14,00025,019
7,142
1,000
5,045
700
2,193
16,0002,027
57,04673,662
2,426
146,323
23,88948,738

16.6
0.0
1.3
0.8
0.0
2.6
0.2
0.1
3.1
5.5
1.6
0.2
1.1
0.2
0.5
3.5
0.4
12.4
16.1
0.5
31.9
5.2
10.6

-

-

-

-

314
7,660
1,150
2,464
500,184

0.1
1.5
0.2
0.5
100.0

251
6,674
1,305
2,126
458,594

0.1
1.5
0.3
0.5
100.0

500,184

100.0

458,594100.0

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）（Millions of Yen）
As of September 30, 2017

As of March 31, 2017
AmountSecured loans

Percentage

AmountPercentage

3,567

0.7

3,733

0.8

3,195

0.6

3,429

0.7

372

0.1

304

0.1

-

-

-

-

Guaranteed loans

11,2802.3

11,2102.4

Unsecured loans

482,87296.5

441,523

96.3

Others

2,464

0.5

2,126

0.5

Total

500,184

100.0

458,594100.0

56,30011.3

32,8007.2

Loans secured by securities
Loans secured by real estate,
movable assets and foundations
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, 2017
AmountPercentage
486,28755.7
38
0.0
56,9696.5
543,295
62.3（Millions of Yen）
As of September 30, 2017
AmountPercentage
526,78555.2
37
0.0
119,305
12.5
646,128
67.8（ⅱ） Assets Swapped into Yen （General Account）

Foreign bonds
Cash, deposits and other assets
Subtotal

As of March 31, 2017
AmountPercentage-（Millions of Yen）
As of September 30, 2017
AmountPercentage-（ⅲ） Assets Denominated in Yen （General Account）

Loans to borrowers outside Japan
Foreign bonds and other assets
Subtotal

As of March 31, 2017
AmountPercentage
329,37337.7
329,373
37.7（Millions of Yen）
As of September 30, 2017
AmountPercentage
307,390
32.2
307,390
32.2

As of March 31, 2017
AmountPercentage
872,669
100.0-（Millions of Yen）
As of September 30, 2017
AmountPercentage
953,519
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, 2017
Foreign securities
Foreign bonds

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

AmountPercentage

AmountPercentage

North America

255,830

29.4

249,056

28.7

6,773

0.8

-

-

Europe210,02824.2

209,365

24.1

663

0.1

-

-

Oceania

-

-

-

-

-

-

-

-

Asia

32

0.0

-

-

32

0.0

-

-

313,769

36.1

94,245

10.8

219,524

25.3

-

-

Middle East

-

-

-

-

-

-

-

-

Africa

-

-

-

-

-

-

-

-

International organizations

89,362

10.3

89,362

10.3

-

-

-

-

Total

869,024100.0

642,03073.9

226,993

26.1

-

-

Latin America（Millions of Yen）
As of September 30, 2017
Foreign securities
Foreign bonds

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

AmountPercentage

AmountPercentage

North America

318,200

33.5

264,584

27.9

53,615

5.7--

Europe235,77724.9

232,756

24.5

3,020

0.3

-

-

Oceania

-

-

-

-

-

-

-

-

Asia

31

0.0

-

-

31

0.0

-

-

304,108

32.1

94,3439.9

209,764

22.1

-

-

Middle East

-

-

-

-

-

-

-

-

Africa

-

-

-

-

-

-

-

-

90,433

9.5

90,433

9.5

-

-

-

-

Total
948,551
100.0
682,11971.9
266,432
Note:Categorization of region is based on location of issuers or borrowers.

28.1

-

-

Latin America

International organizations

11

Asahi Mutual Life Insurance Company

(Reference)
The following tables set forth the amounts of foreign securities investment based on the location of the issuersor type of securities on which substantial risks exist as of the dates indicated.
（Millions of Yen）
As of March 31, 2017
Foreign securities
Foreign bonds

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

Foreign stocks
and other foreign
securities
AmountPercentage
3,407
0.4

Amount252,464

Percentage
29.1

Amount249,056

Percentage
28.7

40,534

4.7

40,5344.7--

100,830

11.6

100,830

11.6

-

-

32
1,885
89,362
155,000
228,913
869,024

0.0
0.2
10.3
17.8
26.3
100.0

1,885
89,362
155,000
5,360
642,030

0.2
10.3
17.8
0.6
73.9

32
223,553
226,993

0.0
25.7
26.1

（Millions of Yen）
As of September 30, 2017
Foreign securities
Foreign bonds

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

Foreign stocks
and other foreign
securities
AmountPercentage
50,166
5.3

Amount314,750

Percentage
33.2

Amount264,584

Percentage
27.9

53,579

5.6

53,5795.6--

111,176

11.7

111,176

11.7

-

-

31
1,925
90,433155,000
221,653
948,551

0.0
0.2
9.5
16.3
23.4
100.0

1,925
90,433155,000
5,418
682,119

0.2
9.5
16.3
0.6
71.9

31
216,234
266,432

0.0
22.8
28.1

Notes:
1.Reverse dual currency bonds are repackaged bonds, whose underlying assets are Japanese Government Bonds.
2.Preferred securities and others 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, 2017
As of September 30, 2017
AmountPercentage

AmountPercentage

U.S. dollars

458,863

84.5

540,655

83.7

Australian dollars

40,6297.5

47,3937.3

Euro19,458

3.6

32,5985.0

Canadian dollars

24,314

4.5

25,452

3.9

Other currencies

29

0.0

28

0.0

543,295

100.0

646,128

100.0

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.
（Millions of Yen）
As of September 30, 2017

As of March 31, 2017
AmountPercentage

AmountPercentage

U.S. dollars

817,91290.0

965,72788.9

Australian dollars

45,526

5.0

61,6105.7

Euro20,552

2.3

33,803

3.1

Canadian dollars

24,314

2.7

25,452

2.3

Other currencies

29

0.0

28

0.0

908,336100.0

1,086,623

100.0

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, 2017

As of March 31, 2017
Net valuation
gains(losses) included in
the statements of income

AmountTrading securities

27,242

1,033

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

28,853

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, 2017

As of September 30, 2017

AmountAmountDomestic bonds
6,510
Domestic stocks
10,882Foreign securities
9,848
Foreign bonds
2,984
Foreign stocks
and other foreign
6,863
securities
Other securities
Total
27,242
Note: The table above includes assets which are consideredappropriate to deem as securities under the Financial
Instruments and Exchange Act.

6,847
11,511
10,494
3,133
7,361
28,853（2） Information on Derivative Transactions （Separate Account)(ⅰ) Interest-related Transactions （Separate Account)
No ending balance as of September 30, 2017 and as of March 31, 2017.
(ⅱ) Currency-related Transactions （Separate Account)
No ending balance as of September 30, 2017 and as of March 31, 2017.
(ⅲ) Stock-related Transactions （Separate Account)
No ending balance as of September 30, 2017 and as of March 31, 2017.
(ⅳ) Bond-related Transactions （Separate Account)
No ending balance as of September 30, 2017 and as of March 31, 2017.

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

14

Asahi Mutual Life Insurance Company

792

Ⅲ．Company Total of General Account and Separate Account
１．Asset Composition （Company Total）（Millions of Yen）
As of September 30, 2017
General account Separate accountCash, deposits and call loans

Total

215,034

1,437

216,471---

Domestic bonds

2,914,725

6,847

2,921,573

Domestic stocks

317,603

11,511

329,114

Foreign securities

948,551

10,494

959,046Loans

512,233-

512,233

Real estate

399,308-399,308

Total assets

5,515,400

30,7275,546,036

1,086,623

10,5481,097,171

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, 2017
Net valuation
gains(losses) included
Amountin the statements ofincomeTrading securities

27,242（Millions of Yen)
As of September 30, 2017
Net valuation
gains(losses) included
Amountin the statements ofincome1,033

28,853792(ⅱ) Fair Value Information on Securities （with fair value, other than trading securities）（Company Total）
As of March 31, 2017
Gains/losses
Book value Fair value
Gains
Losses
Held-to-maturity debt
371,278
416,896
securities
Policy-reserve-matching
2,161,957 2,494,257
bonds
Stocks of subsidiaries
Available-for-sale securities 1,417,128 1,503,956
Domestic bonds
550,475
551,345
Domestic stocks
152,037
263,893
Foreign securities
636,825
611,229
Foreign bonds
506,871486,287
Foreign stocks andother foreign securities

129,953

124,942

45,61745,701

332,299

408,484

46,117

46,179(61)

348,124(15,824) 2,124,635 2,428,827

304,191

323,707(19,516)

86,828 131,145
870
8,259
111,855 117,840(25,595)
2,440(20,584)
1,744(44,316) 1,582,353 1,709,954(7,388) 610,863
614,620(5,984) 157,077
298,524(28,035) 726,301
706,206(22,329) 544,152
526,785

127,600 166,069
3,756
8,927
141,447 148,907(20,095)
4,300(17,366)
2,901(38,468)(5,171)(7,460)(24,396)(20,268)(5,010)695(83)（Millions of Yen)
As of September 30, 2017
Gains/losses
Book value Fair value
Gains
Losses(5,706)362,367

182,148

179,420(2,728)

1,398(4,127)

Other securities
77,78977,487(302)
2,605(2,907)
88,11090,6032,492
3,933(1,440)
Monetary claims bought
Negotiable certificatesof deposit
OthersTotal
3,950,364 4,415,109 464,745 524,970 (60,225) 4,069,356 4,547,266 477,909 535,955 (58,046)
Domestic bonds
2,894,765 3,240,626 345,860 369,135 (23,274) 2,910,969 3,230,722 319,753 344,482 (24,728)
Domestic stocks
152,037
263,893 111,855 117,840(5,984) 157,077
298,524 141,447 148,907(7,460)Foreign securities
792,568
796,222
3,653
31,689 (28,035) 881,635
892,471
10,83635,232 (24,396)
Foreign bonds
662,615
671,279
8,664
30,993 (22,329) 699,486
713,051
13,56533,833 (20,268)
Foreign stocks and
129,953
124,942(5,010)695(5,706) 182,148
179,420(2,728)
1,398(4,127)other foreign securities
Other securities
77,78977,487(302)
2,605(2,907)
88,11090,6032,492
3,933(1,440)
Monetary claims bought
33,20236,880
3,677
3,699
(21)
31,56434,943
3,379
3,399
(20)
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:

5,093
116,024（Millions of Yen)
As of September 30,
2017
5,093
100,998

13,972

13,985102,051

87,012

121,117106,091

As of March 31,
2017
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（Millions of Yen)
As of March 31, 2017
As of September 30, 2017
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
Others363,078408,779

45,701

352,494

398,673

46,179174,732
155,743
32,602-

187,484
184,992
36,301-

12,752
29,2493,699-

166,658
155,333
30,502-

178,505
186,265
33,902-

11,84730,931
3,399
-

8,200

8,116

(83)

9,872

9,811

(61)

7,600
600
-

7,538
578
-

(61)
(21)
-

8,810
1,061
-

8,769
1,041
-

(41)
(20)
-

（Millions of Yen)
As of March 31, 2017
As of September 30, 2017
Balance
Balance
Fair value Gains/losses
Fair value Gains/losses
sheet amountsheet amount
1,950,224

2,298,349

348,124

1,804,051

2,127,759

323,707

1,950,224-

2,298,349-

348,124-

1,804,051-

2,127,759-

323,707-

211,733

195,908(15,824)

320,584

301,068(19,516)

211,733-

195,908-(15,824)-

320,584-

301,068-(19,516)-○Marketable Available-for-sale Securities
As of March 31, 2017
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 September 30, 2017
BalanceBook value
Gains/losses
sheet amount

550,284

681,429

131,145839,825

1,005,895

166,069

234,529
117,575
176,547
21,632-

242,788
235,416
178,987
24,237-

8,259
117,840
2,440
2,605
-

347,643
121,679
321,760
48,741-

356,571
270,587
326,061
52,675-

8,927
148,907
4,300
3,933
-

-

-

-

-

-

-

-

-

-

-

-

-

866,843

822,526(44,316)

742,527704,059(38,468)

315,945
34,462
460,278
56,157-

308,557
28,477432,242
53,249-(7,388)(5,984)(28,035)(2,907)-263,220
35,397404,540
39,368-258,048
27,937
380,144
37,928-(5,171)(7,460)(24,396)(1,440)
-

-

-

-

-

-

-

-

-

-

-

-

-

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, 2017
Hedge accounting applied
Hedge accounting not applied
Total

Interestrelated-

Currencyrelated
5,381
1,241
6,622

Stockrelated

Bondrelated

(20)
(20)

Others
-

Total
-

5,381
1,220
6,601

Note:
Gains/losses on derivative financial instruments with fair value hedge accounting applied (currency-related, gain of 5,381 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 September 30, 2017
Hedge accounting applied
Hedge accounting not applied
Total

Interestrelated-

Currencyrelated(15,306)(976)(16,283)

Stockrelated

Bondrelated-

Others-Total-(15,306)(976)(16,283)

Note:
Gains/losses on derivative financial instruments with fair value hedge accounting applied (currency-related, loss of 15,306 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 September 30, 2017 and as of March 31, 2017.
②Currency-related Transactions (Company Total)
As of March 31, 2017
Notional amount/contract value
Fair value
over 1 year

Over the counter
Currency forward contracts
Sold
U.S. dollars
Australian dollars
Canadian dollars
Euro
BoughtU.S. dollars
Australian dollars
Canadian dollars
Euro
Currency options
Sold
Call options
Put options
BoughtCall options
Put options
Currency swaps
OthersSold
BoughtGains/
losses63,10263,002
14
84
14,723
14,723
-

-

1,163
1,164
(0)
(0)
77
77
-

1,163
1,164
(0)
(0)
77
77
-

[-]
[-]

-

-

[-]
[-]
-

-

-

-

-

[-]
[-]

-

-

-

-

-

-

-

-

-

-

-

Total

（Millions of Yen)
As of September 30, 2017
Notional amount/
Gains/
contract value
Fair value
lossesover 1 year

80,69780,53569
92
74,14974,149
-

-

(931)
(931)
(0)
(0)
(45)
(45)
-

(931)
(931)
(0)
(0)
(45)
(45)
-

[-]
[-]

-

-

-

-

[-]
[-]
-

-

-

-

-

-

[-]
[-]

-

-

-

-

-

-

-

-

1,241

(976)

Notes:
1.The fair values of currency forward contracts are stated at theoretical prices based on TTM, WM Reuters rate, discount rate and others at balance
sheet dates.
2.The fair values of currency forward contracts show gains/losses.

18

Asahi Mutual Life Insurance Company

③Stock-related Transactions （Company Total）（Millions of Yen)
As of September 30, 2017

As of March 31, 2017
Notional amount/contract value

Fair value

Gains/
losses

Notional amount/contract value

over 1 year

Over the counter
Stock forward contracts
Sold
BoughtStock options
Sold
Call options
Put options
BoughtCall options
Put options
OthersSold
Bought

-

-

[-]
[-]

-

[-]
49,998
[20]

-

[-]
[-]

-

Fair value

Gains/
losses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

over 1 year

-

-

-

-

-

-

-

-

-

-

(20)

-

-

Total

(20)

-

-

[-]
[-]

-

[-]
[-]

-

[-]
[-]

-

-

-

-

Note:Figures in [ ] are option premiums.

④Bond-related Transactions （Company Total）
No ending balance as of September 30, 2017 and as of March 31, 2017.

19

Asahi Mutual Life Insurance Company

（ⅲ）Hedge Accounting Applied (Company Total)①Interest-related Transactions (Company Total)
No ending balance as of September 30, 2017 and as of March 31, 2017.
②Currency-related Transactions (Company Total)
As of March 31, 2017
Notional amount/Hedgedcontract value
Fair value
items

Method ofhedge
accounting

over 1 year

Currency forward
contracts
Sold
U.S. dollars
Australian dollars
Fair value
Canadian dollars
hedge
Euro
BoughtU.S. dollars
Australian dollars
Canadian dollars
Euro
Currency options
Sold
Call options
Put options
BoughtCall options
Put options
Currency swaps
OthersSold
BoughtForeigncurrency
denominatedbonds

722,308
633,363
44,55824,451
19,935
-

-

[-]
[-]

-

[-]
[-]
-

-

-

-

[-]
[-]

-

-

-

-

over 1 year

5,381
4,763
(227) Foreign638
currency
206 denominated
bonds
-

-

-

Total

（Millions of Yen)
As of September 30, 2017
Notional amount/Hedgedcontract value
Fair value
items

5,381

872,154754,21060,75924,84032,344--(15,306)(13,857)
(115)
(686)
(646)
-

[-]
[-]

-

[-]
[-]
-

-

-

-

[-]
[-]

-

-

-

-

-

-

(15,306)

Notes:
1.The fair values of currency forward contracts are stated at theoretical prices based on TTM, WM Reuters rate, discount rate and others at balance sheet dates.
2.The fair values of currency forward contracts show gains/losses.
3.Assets and liabilities which are denominated in foreign currencies but have fixed settlement 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.

③ Stock-related Transactions （Company Total）
No ending balance as of September 30, 2017 and as of March 31, 2017.
④Bond-related Transactions （Company Total）
No ending balance as of September 30, 2017 and as of March 31, 2017.

20

Asahi Mutual Life Insurance Company

Ⅳ．Breakdown of Allowance for Possible Loan Losses（Millions of Yen)
As of March 31, 2017

As of September 30, 2017

Changes

Allowance for possible loan losses

487

419

(68)

General allowance for possible loan losses

14

13

(0)

Specific allowance for possible loan losses

473

406

(67)

-

-

-

Allowance for specified overseas loans

Ⅴ． Policy Reserves Accumulation Method and Ratio for Individual Insurance and Annuities
As of September 30, 2016 As of September 30, 2017
Policies subject to thestandard policy reserves
Accumulation
Policies not subject to themethodstandard policy reserves
Accumulation ratio(excluding contingency
reserve)

As of March 31, 2017

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 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 prescribed by the Ministry of FinancePublic 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.

21

Asahi Mutual Life Insurance Company