ＤＤNEWSRELEASE

November 10, 2022
Ryosuke Mori, President
LIFENET INSURANCE COMPANY(Securities Code: 7157, TSE Growth)

Revision of Business Forecasts
for Fiscal 2022 Ending March 31, 2023
Mainly because of the increase of insurance payment related to COVID-19
TOKYO, November 10, 2022 - LIFENET INSURANCE COMPANY (TSE Growth 7157,President Ryosuke Mori, URL: https://ir.lifenet-seimei.co.jp/en/) announces a revision of its
business forecasts for fiscal 2022 ending March 31, 2023, which was announced on May 12,2022.
1. Business Forecasts for Fiscal 20221(In millions of yen)
Ordinary income

Ordinary profit(loss)Net income (loss)

Previous forecast (A)30,300(3,400)(3,400)

Revised forecast (B)30,000(5,000)(5,000)Difference (B) – (A)(300)(1,600)(1,600)Change (%)(1.0%)－－(Ref.)Business results for FY2021

26,167(3,245)(3,319)1.

The above business forecasts for fiscal 2022 includes the impact of reinsurance transactions by modified coinsurance. We expect the impact of these reinsurance transactions on fiscal 2022 forecasts to increase ordinary
income by around 5,900 million yen (6,300 million yen as of previous forecast), ordinary profit and net income byaround 800 million yen (1,000 million yen as of previous forecast). Figures mentioned above are based on theinformation available as of the date of this release and certain assumptions deemed rational. The actual results tobe disclosed in the future may differ from the forecasted figures due to various factors.

(Reference) Annualized premium22.

Annualized premiumof policies-in-force(In millions of yen)
Annualized premiumof new business

Previous forecasts(May 12, 2022)

24,4004,400Revised forecasts(November 10, 2022)

24,3004,200(Reference)
Business results
for fiscal 2021

21,511

4,089

The amount of money equivalent to what is to be paid to have the insurance coverage for one year. All payments
are monthly installments; thus the annualized premium is calculated as multiplying the monthly premium by 12months.

LIFENET INSURANCE COMPANY
Copyright© LIFENET INSURANCE COMPANY All rights reserved.

1ＤＤNEWSRELEASE

2. Reasons for Revision
The payments of insurance claims and benefits related to COVID-19 increased due to thespread of COVID-19 and the amount of the payments reached 883 million yen for the six
months ended September 30, 2022. Based on this, Lifenet has revised its business forecasts
for fiscal year 2022 ending March 31, 2023, as the amount of insurance claims and benefits isexpected to be higher than initially expected.
In addition, as for the reserves for outstanding claims, which is required to be accumulated
under the Insurance Business Acts, we expect to record higher amount as a provision forreserves for outstanding claims than initially expected due to an increase in payments of
insurance claims and benefits for the six months ended September 30, 2022. We have included
the impact in our revision of the business forecasts.
Since April 2020, Lifenet has regarded patients with COVID-19 recuperating at home oraccommodations as equivalent to those who have been hospitalized and are eligible forclaiming benefits. However, in line with the recent government's policy to simplify COVID-19
case count rules, benefit payments are limited to those who have high risk when they are
diagnosed with COVID-19 after September 26. As a result, future payments of claims andbenefits related to COVID-19 are expected to be limited, while we carefully monitor the situation
and will promptly announce any events that should be disclosed.
Subsequently, the forecasts for annualized premium of policies-in-force and of new businesswere also revised for the performance has not progressed as expected. Lifenet continuously
aims to achieve double-digit growth in in-force business.

About LIFENETURL： https://ir.lifenet-seimei.co.jp/en/

Remembering the original purpose of life insurance - mutual support - LIFENET INSURANCECOMPANY was founded with the goal of offering simple, convenient and competitively priced
products and services based on the highest levels of business integrity. We sell these products
and services directly to customers over the Internet. We aim to be the leading company driving
the growth of the online life insurance market.
Contact:
Investor Relations, Corporate Planning DepartmentTel:+81-3-5216-7900
e-mail: ir@lifenet-seimei.co.jp
Disclaimer: This is a summarized translation of the original Japanese document, prepared and provided
solely for readers' convenience. In case of any discrepancy or dispute, the Japanese document prevails.

LIFENET INSURANCE COMPANY
Copyright© LIFENET INSURANCE COMPANY All rights reserved.

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