November 12, 2015
Sony Financial Holdings Inc.

Sony Life's Supplementary Data for the Six Months Ended September 30, 2015 at Press Conference(1) Status of Insurance Policies(Millions of yen)
For the six months ended September 30, 2015

% change fromMarch 31, 2015

% YoY change

For the year ended
March 31, 2015

For thesix months ended
September 30, 2014

36,216

Annualized premiums from new policies

43,053-18.9%

76,612

Of which third-sector products

7,383

-

12.0%

15,2856,590

759,136

3.2%

6.1%

735,728

715,427

Of which third-sector products

176,122

1.9%

3.7%

172,800

169,757

Income from insurance premiums

508,798-

12.1%

914,034

454,032

505,844-12.4%

906,360

449,8552,500-(26.6%)

6,136

3,408

New policy amount

2,615,026

-

22.9%

4,771,626

2,127,398

Policy amount in force

Annualized premiums of insurance in force

Individual life insurance and annuities
Group insurance and annuities

42,143,015

2.8%

5.5%

40,988,700

39,952,703

Lapse and surrender amount

951,525-

10.3%

2,088,462

862,592

Lapse and surrender rate (%)

2.33

-

0.12ppt up5.35

2.21Notes:
1. The above figures excluding income from insurance premiums represent total amounts of individual life insurance and individual annuities.
2. Lapse and surrender amount as well as lapse and surrender rate do not include reinstatement.
3. Income from insurance premiums for the individual life insurance and annuities represents a total amount of those of individual life insurance and individual annuities.
Income from insurance premiums for the group life insurance and annuities represents a total amount of those of group life insurance and group annuities.
4. Annualized premiums, which include individual life insurance and individual annuities, are converted to a per-year premium amount by multiplying individual premiums by a coefficient corresponding to
the premium payment method. (For lump-sum payment policies, premiums are divided by the number of coverage years.)(2) Status of Assets
As of September 30, 2015
% change fromMarch 31, 2015
Total assets
Real net assets(A)Real net assets(A) / General account assets
Real net assets(B)As ofMarch 31, 2015

% change from
September 30, 2014

As ofSeptember 30, 2014

(Millions of yen)

7,758,892

6.3%

11.5%

7,301,350

6,959,132(100 millions of yen)

18,508(1.7%)

23.4%

18,83015,001%26.6

2.3ppt down

2.6ppt up

28.9

24.0

(100 millions of yen)

10,6852.4%

9.4%

10,435

9,769

Real net assets (B) / General account assets

%

15.3

0.7ppt down

0.3ppt down

16.0

15.6

Solvency margin ratio%

2,657.7

102.7ppt up

147.3ppt up

2,555.0

2,510.4

Notes:
1. Sony Life conducts overall asset-liability management (ALM) by determining the liability characteristics of its long-term insurance policies and marking to market both assets and liabilities. Consequently, the Company invests in long-term debt,chiefly long-term government bonds, to ensure adequate liquidity of assets. The majority of holdings are categorized as held-to-maturity bonds. “Real net assets” are a standard used by regulatory authorities, who may use this as a basis forissuing an order to suspend operations from the standpoint of management soundness. Real net assets (indicated as “Real net assets (A)”) do not adequately reflect the results of ALM because although this measure includes the market valueof assets, including held-to-maturity bonds, it does not reflect the market value of liabilities. If regulatory authorities were to appropriately reflect ALM activities, valuation would clearly exclude net unrealized gains (losses) on held-to-maturity
bonds and policy reserve matching bonds. Accordingly, Sony Life calculates net real assets (shown as “Real net assets (B)”) on this basis
2. Figures indicate percentage changes from March 31, 2015, and September 30, 2014. (Percentage point changes are given for real net assets /general account assets, and solvency margin ratio)(3) Core Profit / Positive Spread(Millions of yen)
For the six months ended September 30, 2015
% change fromMarch 31, 2015

Core profit% YoY change

14,460-For the year ended
March 31, 2015

For thesix months ended
September 30, 2014

76,50538,598(62.5%)(100 millions of yen)

Forecast for theyear ending March 31, 2016

Positive spread (Negative amount indicates negative spread)

For the year ended
March 31, 2015

130

Increase (positive spread)(4) Policy and Other Reserves(Millions of yen)
As of September 30, 2015
Amount change from Amount change fromMarch 31, 2015
September 30, 2014

Policy reserves (excluding contingency reserve)

As ofMarch 31, 2015

As of
September 30, 2014

6,941,642

283,109594,347

6,658,533

6,347,294

General accounts (excluding contingency reserve)

6,155,223

277,947

499,282

5,877,276

5,655,941

Separate accounts (excluding contingency reserve)

786,418

5,161

95,064

781,256

691,353

Reserve for price fluctuations

43,523678

1,348

42,84542,175

Contingency reserve

71,885

3,178

5,758

68,707

66,127

Contingency reserve I

22,592437

701

22,154

21,890Contingency reserve II

18,609577

1,135

18,031

17,473

Contingency reserve III

24,197

2,052

3,728

22,144

20,469Contingency reserve IV

6,486

110

192

6,376

6,293

Contingency reserve fund-----Price fluctuations reserve fund

-----

1

(5) Unrealized Gains (Losses)(Millions of yen)
As of September 30, 2015
Amount change from Amount change fromMarch 31, 2015
September 30, 2014

Securities

As ofMarch 31, 2015

As ofSeptember 30, 2014

939,253(69,088)272,963

1,008,341

Japanese stocks

12,316(3,758)762

16,075

11,554

JGBs, other bonds

915,285(45,974)

282,188961,259

633,096

Foreign securities

11,535(19,144)(9,494)30,68021,02949,386898

14,74048,48734,645

Real estate

666,290

Notes:
1. Net unrealized gains (losses) on securities are calculated as the difference between the carrying value before mark-to-market and the fair market value for policy reserve matching bonds and securities with market value, other than trading-purpose
securities. (The amount includes “monetary trusts,” but excludes trading-purpose securities.)
2. Real estate is for domestic real estate, including land lease right, and the amount is a level after revaluation.

(6) Investment Results and Plans(Millions of yen)
Result for the first halfof the fiscal year
ending March 31,
2016

Plan for the second half of the fiscal year
ending March 31, 2016

Japanese stocks

27,992

Flat

JGBs, other bonds

7,096,023

Increase

21,288Flat

Foreign bonds

71,263

Increase

Real estate

163,040

Flat

Foreign stocks(7) Level of Indices where Unrealized Gains (Losses) on Assets are Break-evenAs ofSeptember 30, 2015
Japanese stocks (NIKKEI Average)

(yen)

9,191

Japanese stocks (TOPIX)

(ppt)

745

JGBs, other bonds

(%)

1.5

Foreign securities
Notes:(yen)

80

1. Japanese stocks are fully linked to the Nikkei Average and TOPIX, and valuations are calculated accordingly.
2. Japanese bonds calculations employ yields on newly issued 10-year JGBs, to one decimal place.
3. Calculations of foreign securities employ US dollar/yen conversions.
(8) Forecast for the Year Ending March 31, 2016
Forecast
Income from insurance premiums

IncreaseCore profitDecrease

Policy amount in force

Increase

Annualized premiums for policies in force

Increase(9) Cross Holdings with Domestic Banksi) Contributions from Domestic Banks
As ofSeptember 30, 2015
Foundation (Stocks) funds

Not applicable

Subordinated loans and bonds
Note: Stocks on contributions from domestic banks are at market value as of September 30, 2015.

Not applicableii) Contributions to Domestic Banks
As of
September 30, 2015
Bank Stocks (market value basis)

Not applicable

Subordinated loans, bonds and preferred securities
Notes:

Not applicable

1. Contributions extended to banks other than those who held the company's foundation funds are included.
2. Stocks includes preferred stocks. (Investment in foreign subsidiaries are not included.)(10) Number of Employees
As of September 30, 2015
% change fromMarch 31, 2015

% change from
September 30, 2014

As ofMarch 31, 2015

As ofSeptember 30, 2014

Sales employees

4,948

1.9%

3.9%

4,857

4,764

Office employees

2,028

5.4%

9.1%

1,924

1,858

2

(11) Over-the-counter Sales through Banks(Millions of yen)
For the six months ended September 30, 2015
For the year ended
March 31, 2015

For thesix months ended
September 30, 2014-11-4451% change from
September 30, 2014

Variable annuities

Number of new policies-Insurance premiums
Number of new policies
16220.0%
Insurance premiums
2108.5%
Note: Insurance premiums refer to lump-sum premium amount for lump-sum payment policies, and a figure converted to a per-year premium for other policies.
Fixed annuities

61(Millions of yen)
For the six months ended September 30, 2015

Lump-sum premium whole life Number of new policies
insurance
Insurance premiums

For thesix months ended
September 30, 2014

For the year ended
March 31, 2015

% change from
September 30, 2014---------

85

81465

454

Lump-sum premium endowment Number of new policies
insurance
Insurance premiums
Note: Insurance premiums refer to lump-sum premium amount for lump-sum payment policies, and a figure converted to a per-year premium for other policies.

-(Millions of yen)
For the six months ended September 30, 2015
% change from
September 30, 2014
Lump-sum premium
life insurance

Level premium plan
life insurance

For the year ended
March 31, 2015

For thesix months ended
September 30, 2014

Number of new policies

16(56.8%)

5137

Insurance premiums

69(64.8%)

276

198

Number of new policies

233(51.4%)

753

479

Insurance premiums

75(60.7%)

307

193

Notes:
1. Insurance premiums refer to lump-sum premium amount for lump-sum payment policies, and a figure converted to a per-year premium for other policies.
2. Number of new policies for the six months ended September 30, 2015 includes product such as Variable life insurance (whole life type), Semi-participating educational endowment insuranceand Living benefit whole life insurance (living standard type).

3

Attachment
Other Supplementary Data (for the Six Months Ended September 30, 2015)
Provision of policy reserve of the general account assets for minimum guarantee for variable annuities and others(100 millions of yen)

Provision for policy reserve of the general account assets for minimum guarantee forvariable annuities and others

4

For the six months
ended September 30,
2015

For the year ended
March 31, 2015

For the six months
ended September 30,
2014

22110625