March 30, 2011
T&D Holdings, Inc.
Naoteru Miyato, President(Security Code: 8795)
T&D Financial Life Insurance Company
Muneo Takeuchi, President

Corrections to the past “Financial Summary “TANSHIN” Reports” anddocuments related to financial results
T&D Holdings, Inc. hereby announces the following corrections of solvency margin ratios of T&D
Financial Life Insurance Company for the periods indicated below.
For the reason of corrections, we found that certain mistakes occurred in the process of calculating the“Minimum guarantee risks” of individual variable insurance, which is a component of solvency
margin ratios.

For inquiries regarding the above, please contact:
Investor Relations, T&D Holdings, Inc.
Tel: +81-3-3434-9142

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1. Content of Corrections
T&D Financial Life Insurance Company
Solvency margin ratios (%)
PeriodBeforecorrection (a)Aftercorrection (b)Difference(b) – (a)Three months ended June 30, 2005

585.5
1,070.3
1,066.7
1,911.8
1,646.6
1,559.0
1,420.3
1,189.7
1,136.9
1,080.5
1,024.1
912.4
891.2
656.2
963.3
832.0
823.6760.9
711.3
643.4
632.2
627.2
626.0

594.9
1,090.3
1,086.1
1,947.7
1,674.5
1,583.9
1,440.5
1,203.7
1,149.4
1,091.7
1,034.2
920.7
899.2
661.0
969.5
836.8
828.0
764.6
714.4
646.0
634.8
629.6
628.5

9.4 points
20.0 points
19.4 points
35.9 points
27.9 points
24.9 points
20.2 points
14.0 points
12.5 points
11.2 points
10.1 points
8.3 points
8.0 points
4.8 points
6.2 points
4.8 points
4.4 points
3.7 points
3.1 points
2.6 points
2.6 points
2.4 points
2.5 points

Six months ended September 30, 2005
Nine months ended December 31, 2005
Year ended March 31, 2006
Three months ended June 30, 2006
Six months ended September 30, 2006
Nine months ended December 31, 2006
Year ended March 31, 2007
Three months ended June 30, 2007
Six months ended September 30, 2007
Nine months ended December 31, 2007
Year ended March 31, 2008
Three months ended June 30, 2008
Six months ended September 30, 2008
Nine months ended December 31, 2008
Year ended March 31, 2009
Three months ended June 30, 2009
Six months ended September 30, 2009
Nine months ended December 31, 2009
Year ended March 31, 2010
Three months ended June 30, 2010
Six months ended September 30, 2010
Nine months ended December 31, 20102

2. Corrections to the “Financial Summary for the nine months ended December 31,
2010” and documents related to financial results of the nine months ended December 31,
2010
Corrections of the “Financial Summary for the nine months ended December 31, 2010” anddocuments related to financial results of the nine months ended December 31, 2010, which wereannounced on February 10, 2011, are as follows (The revised portions are underlined.):<Correction on page 5 of the Appendix of the “Financial Summary for the nine months ended
December 31, 2010” >3. Operations of Three Life Insurance Companies (Non-consolidated Basis)(ii) Financial Position
Before correction
T&D Financial Life Insurance Company

After correction
T&D Financial Life Insurance Company(omitted)(omitted)

As of December 31, 2010, solvency margin ratio was626.0 percent (643.4 percent at the end of the previousfiscal year). Furthermore, the value of adjusted net
assets amounted to ¥95.6 billion (¥90.5 billion posted
at the previous fiscal year-end).

As of December 31, 2010, solvency margin ratio was
628.5 percent (646.0 percent at the end of the previous
fiscal year). Furthermore, the value of adjusted net
assets amounted to ¥95.6 billion (¥90.5 billion posted
at the previous fiscal year-end).

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<Correction on page 1 of the “Non-Consolidated Financial Data of the Three Life Insurance
Companies for the Nine Months Ended December 31, 2010” >3. Key Indicators(Before correction)(Billions of yen)
As of December 31,2010

Total(Sum of ThreeCompanies)
Change fromAmountprevious FYE

Taiyo Life

Daido Life

T&D Financial Life

AmountChange fromprevious FYEAmountChange fromprevious FYE

Change fromprevious FYEAmountSolvency margin ratio
Adjusted net assets

1,238.3

103.5

1,237.6%
522.9

213.8 points
89.1

1,182.9%
619.6

62.3 points
9.1

626.0%
95.6(17.4 points)
5.1

Net unrealized gains/losses
on securities

307.7

78.8

199.5

74.8

99.8

(1.2)

8.2

5.1

Domestic bondsDomestic stocks
Foreign securities
Other securities
Monetary trusts
Monetary claims
purchased

188.5
130.3
(12.0)(10.9)(0.4)

108.1(18.5)(0.5)(20.3)
(0.7)

114.0
90.3
(11.0)
0.3
-

74.6
(2.4)
(1.8)
0.0
-

66.3
39.9
(1.0)
(11.3)(0.4)

28.3(16.0)
1.3(20.3)
(0.7)

8.1
0.0
-

5.1
(0.0)
-

12.2

10.8

5.8

4.5

6.3

6.2

-

-

Net unrealized gains/losses
on real estate

29.1

0.3

8.7

0.1

20.4

0.1

-

-

Notes:
1. Regarding net unrealized gains/losses on securities, the figures show only those of securities with market value.
2. Net unrealized gains/losses on real estate are basically calculated based on the appraisal price. Less important properties are calculated
based on the posted price.
3. Adjusted net worth on EEV (European Embedded Value) as of December 31, 2010, are as follows: Group: 927.4 billion yen (up 92.7
billion yen from the previous fiscal year end); Taiyo Life: 425.4 billion yen (up 69.9 billion yen); Daido Life: 438.2 billion yen (up 18.7billion yen); T&D Financial Life: 63.7 billion yen (up 4.0 billion yen).

(After correction)(Billions of yen)
As of December 31,
2010

Total
(Sum of ThreeCompanies)
Change fromAmountprevious FYE

Taiyo Life

Daido Life

T&D Financial Life

AmountChange fromprevious FYEAmountChange fromprevious FYE

Change fromprevious FYEAmountSolvency margin ratio
Adjusted net assets

1,238.3

103.5

1,237.6%
522.9

213.8 points
89.1

1,182.9%
619.6

62.3 points
9.1

628.5%
95.6(17.5 points)
5.1

Net unrealized gains/losses
on securities

307.7

78.8

199.5

74.8

99.8

(1.2)

8.2

5.1

Domestic bonds
Domestic stocks
Foreign securities
Other securities
Monetary trusts
Monetary claims
purchased

188.5
130.3
(12.0)(10.9)(0.4)

108.1(18.5)(0.5)(20.3)
(0.7)

114.0
90.3
(11.0)
0.3
-

74.6
(2.4)
(1.8)
0.0
-

66.3
39.9
(1.0)
(11.3)(0.4)

28.3(16.0)
1.3(20.3)
(0.7)

8.1
0.0-

5.1
(0.0)
-

12.2

10.8

5.8

4.5

6.3

6.2

-

-

Net unrealized gains/losses
on real estate

29.1

0.3

8.7

0.1

20.4

0.1

--Notes:
1. Regarding net unrealized gains/losses on securities, the figures show only those of securities with market value.
2. Net unrealized gains/losses on real estate are basically calculated based on the appraisal price. Less important properties are calculated
based on the posted price.
3. Adjusted net worth on EEV (European Embedded Value) as of December 31, 2010, are as follows: Group: 927.4 billion yen (up 92.7
billion yen from the previous fiscal year end); Taiyo Life: 425.4 billion yen (up 69.9 billion yen); Daido Life: 438.2 billion yen (up 18.7billion yen); T&D Financial Life: 63.7 billion yen (up 4.0 billion yen).

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<Correction on page 11 of the “Supplementary Materials for the Nine Months Ended December
31, 2010 (T&D Financial Life Insurance Company) ” >5. Solvency Margin Ratio(Before correction)

Items
Total solvency margin
Common stocks, etc. (less certain items)
Reserve for price fluctuations
Contingency reserve
General reserve for possible loan losses
Net unrealized gains on available-for-sale securities (before tax)
(x 90 per cent., if gains; x 100 per cent., if losses)
Net unrealized gains(losses) on real estate(x 85 per cent., if gains; x 100 per cent., if losses)
Excess amount of policy reserve based on Zillmer method
Subordinated debt
Deductible items
OthersTotal risk

( R1  R8 ) 2  ( R2  R3  R7 ) 2  R4

Insurance risk
3rd sector insurance risk
Assumed investment yield risk
Investment risk
Business risk
Minimum guarantee risk
Solvency margin ratio

(A)

(B)

R1R8R2R3R4R7( A) 100(1 / 2)  ( B)

As of December
31, 2010(Millions of yen)
As of March 31,
2010

96,06834,711407
32,100399,627
37,934387
26,8223(312)(522)--

29,157-35,001-30,68930,964

959
292
486
2,189
929
27,057

998
306
335
1,687
939
27,973626.0%

643.4%

Notes:
1. The figures as of March 31, 2010 were calculated in accordance with Articles 86, 87 of the ministerial ordinance for Insurance Business
Law as well as Announcement No. 50 issued by the Ministry of Finance in 1996. The figures as of December 31, 2010 were calculated using
a reasonable method based on regulatory rules.
2. “Common stock, etc. (less certain items)” represents net assets on the balance sheet less net unrealized gains on securities.
3. "Minimum guarantee risk R7" were calculated using the standard method regulated by FSA.

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(After correction)

Items
Total solvency margin
Common stocks, etc. (less certain items)
Reserve for price fluctuations
Contingency reserve
General reserve for possible loan losses
Net unrealized gains on available-for-sale securities (before tax)
(x 90 per cent., if gains; x 100 per cent., if losses)
Net unrealized gains(losses) on real estate(x 85 per cent., if gains; x 100 per cent., if losses)
Excess amount of policy reserve based on Zillmer method
Subordinated debt
Deductible items
OthersTotal risk

( R1  R8 ) 2  ( R2  R3  R7 ) 2  R4

Insurance risk
3rd sector insurance risk
Assumed investment yield risk
Investment risk
Business risk
Minimum guarantee risk
Solvency margin ratio

(A)

(B)

R1R8R2R3R4R7( A) 100(1 / 2)  ( B)

As of December
31, 2010(Millions of yen)
As of March 31,
2010

96,06834,711407
32,100399,627
37,934387
26,8223(312)(522)--

29,157-35,001-

30,56830,840

959
292
486
2,189
926
26,939

998
306
335
1,687
935
27,852628.5%

646.0%

Notes:
1. The figures as of March 31, 2010 were calculated in accordance with Articles 86, 87 of the ministerial ordinance for Insurance Business
Law as well as Announcement No. 50 issued by the Ministry of Finance in 1996. The figures as of December 31, 2010 were calculated using
a reasonable method based on regulatory rules.
2. “Common stock, etc. (less certain items)” represents net assets on the balance sheet less net unrealized gains on securities.
3. "Minimum guarantee risk R7" were calculated using the standard method regulated by FSA.

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