Co r p o r ate Re sp o n sib ility Report 2015
D i ge s t E d i t i o n

1-2-3 Kaigan, Minato-ku, Tokyo 105-0022, Japan
http://www.td-holdings.co.jp/en/ E-mail: csr@td-holdings.co.jp* The Head Office is scheduled to relocate to the Tokyo Nihombashi Tower in Nihonbashi 2-chome, Chuo-ku, Tokyo in December 2015.

682

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暖化防止に貢献しますTop Message

T&D Life Group CSR Philosophy — How We Define CSR

We will contribute to people and societies
by creating value through our activities
to address social issues.

Being a group that
contributes to all
people and societies.

T&D Life Group’s Corporate Philosophy

Tetsuhiro Kida

T&D Life Group

With our“Try & Discover”motto for creating value, we aim
to be a group that contributes to all people and societies.

Representative Director and President, T&D Holdings, Inc.

Philosophy
Group CSR Charter
The T&D Life Group is a corporate group made up of theformation of a sustainable society. As part of theseiaries and 2 affiliates. Among these companies are theGroup signed on to the Principles for Financial Action forholding company T&D Holdings, Inc. and its 15 subsidGroup’s three core life insurance companies, namely
Taiyo Life Insurance Company, Daido Life Insurance
Company, and T&D Financial Life Insurance Company.

efforts, in July 2014 the companies of the T&D Lifethe 21st Century, which provide sustainability guidelines
for the conduct of financial institutions.

And moreover, in July 2015, the T&D Life GroupThe T&D Life Group has embraced the following

became a participant of the United Nations (UN) Global

and the bedrock of all of its business activities:“With our

corporations to realize sustainable growth advocatedcorporate philosophy as the starting point for the Group‘Try & Discover’motto for creating value, we aim to

be a group that contributes to all people and societies.”
The T&D Life Group is centered on the life insurance

Compact, a cooperative framework between the UN andby the UN, and publicly endorsed the Compact’s Ten
Principles.

Recognizing its roles and responsibilities, the T&D

business, which attaches fundamental importance to theLife Group has set environmental targets and is working

Therefore, we believe that contributing to people

targets. In addition, we are conducting various social

principle of mutual assistance.

and society as a whole through our businesses consti-

tutes our fundamental guiding principle as a businessenterprise and the very rationale for our existence. In
response to the diverse social issues facing individuals,
households, and small and medium enterprises (SMEs),

the T&D Life Group has endeavored to solve these

problems by providing distinctive life insurance products
and services. One of the most pressing issues now facing

Japan is the rapid aging of its population. By 2025, ten
years from now, Japan’s baby boomers will reach theage of 75 years and older, and the country’s nursing careissues are expected to become even more serious.

To address this urgent social issue, the T&D LifeGroup has delivered security to customers by developing

nursing care products, and has been offering the Best
Senior Service, which provides various services compre-

to mitigate its environmental impact by meeting thosecontribution activities, including initiatives undertaken
together with the Group’s foundations, to live in harmony

with local communities and society. We aim to help

create a diverse and inclusive society where everyone
can reach their full potential. To this end, we support
the active participation of women in business and arepushing ahead with work-life balance initiatives alongwith developing a supportive working environment
and laying other vital foundations. In addition, the T&D

 et & Family Small-amountP
Short-term Insurance Company(Preamble)

The T&D Life Group is firmly committed to fulfilling the
public mission of life insurance and other businesses andto undertaking its corporate social responsibilities
based on its management philosophy and byachieving sustainable growth along with society.
Our Priority Areas (2015)(12 other companies)

Group CSR Charter

Providing Better Products and Services

We have selected three priority areas fromamong those areas material to an expansive
range of stakeholders and those areas
material to our corporate philosophy
and growth. We are implementing
activities targeting each priority area.

Our Activities

Materiality 2015
Respect for
Human Rights

Global Environmental
Protection

Social issues
Create value forpeople and societies

growth of Japanese companies.

In the digest edition of CR Report 2015, we present

well-organized format. We hope that you will read thisGroup’s activities.

As we look ahead, the T&D Life Group is determined

to contribute to the development of local communities

In addition to the aforementioned activities, we are

activities, not just its core life insurance business. We

the environment, with a view to playing a role in the

T&D Asset Management Co., Ltd.

●and dialogue, we will support the medium- to long-term

issues, and has taken actions accordingly. We promise toalso wholeheartedly engaged in activities to protect

T&D Financial Life Insurance Company●

an institutional investor. Through a process of investment

report and that it will increase your understanding of the

keep this unwavering commitment to this stance.

Daido Life Insurance Company●

Stewardship Code) in order to fulfill its responsibilities as

In these and other ways, the T&D Life Group haschange, has always explored what it can do to solve suchTaiyo Life Insurance Company●

Principles for Responsible Institutional Investors (Japan’sthese initiatives by the T&D Life Group in a clear,actively engaged in various issues spawned by social

T&D Holdings, Inc.

●

Life Group has also announced its acceptance of thehensively to ensure that seniors can lead their lives withgreater security and relief.

●and society through an expansive range of businesslook forward to your continued support and understanding of our activities.

1Cover Story

Group Employees Discuss CSR

Building Strong Links with Customers and Society
CSR is not a special activity
at all.
Ito: I often go out to see insurance

agents whom I’
m in charge of as partof my sales activities. I do not pay any
particular attention to CSR on a daily
basis. I am just mindful of the impor-tance of engaging with customers
with sincerity and integrity, knowingthat every one of our duties is always
linked to society.

Fukasawa: Taiyo Life has often con-ducted social contribution activities
that are closely relevant to its custom-

Ito: In a shifting social landscape, I

crucial for the business of our Group.

for the insurance sector to always

Exploring how CSR
can reflect social needs

stream of products that are attuned to

Fukasawa: Our customers often tell me

will also help companies to earn hightrust in Taiyo Life. These comments areactivities and customer protections are
Maejima: Public scrutiny of compli-

ance and customer protections havebecome increasingly stringent. CSR
is absolutely essential to companies.

Should a company’s behaviors cause

resentment from society, the company
would suffer serious consequences,

not just a negative impact on business performance, but, also in theworst case, difficulty in continuing its
operations.

Service Department interacts directly

feedback received by the department

Fukasawa: Features of insurance prod-

moted on a daily basis. The Customer
with customers. Sometimes, customer

can lead to the creation of newucts ought to be revised in response to

Tsuchikawa: Before I joined the2014, Taiyo Life has begun offering

products.

company, I had held the impressionthat CSR was all about donations andother philanthropic activities. However,in practice, I found that CSR is a verybroad concept, encompassing thenotion of compliance. In my daily
duties, I have a lot of opportunities

to deal with matters such as the

Insurance Business Act, administrative
guidelines and other regulations. Basedon my experience, I am convinced that

Fuyuko Fukasawa
Customer Service Division,
Customer Service Department
Taiyo Life Insurance Company
Hironaga Tsuchikawa
Research & Planning Division,
General Planning Department
Daido Life Insurance Company

2

ensuring appropriate insurance sales

CSR is providing products
and services that achieve
high customer satisfaction.

ers, and so I feel that CSR is being pro-through Familiar, Everyday CSR Activities

changing social circumstances. From

the Best Senior Service to address
the aging of Japanese society. Thisinitiative seeks to revise every aspectof what we offer from the customer’sperspective, from service to policy

details and hospitality, in order toboost convenience for our elderly cus-

tomers. I believe that the Best Senior
Service will not only respond to theneeds of our customers, but will also
make a contribution to society.

believe that it will be particularly vital
be ready to rapidly supply a steadycurrent needs. I believe that doing somarks from the public.

Maejima: In the asset management
services provided by T&D AssetManagement, in a way, we havebeen rated highly by customers for
identifying their investment needs andrapidly offering products that meetthose needs, including products that

require considerable time and effort todevelop.

Tsuchikawa: In response to the needsof SME owners in recent years, wehave started to provide products that
address the risk of work incapacitation
during their tenure. When I was amember of our sales division, a large
number of customers and insurance
agents told me that those products

were indeed the products that they
really wanted. This experience rein-

forced my belief that as membersof the insurance industry, we must
address the needs of society properly.

that they feel comfortable putting theirdelightful to hear, but they also bringas possible. For those reasons, theMaejima: T&D Asset Management has

crucial issue.

an abbreviation for environmental (E),

speedy development of systems is a

The future of
the T&D Group and our CSR

home the tremendous responsibility

Fukasawa: Insurance must be useful

CSR can be performed by individuals,

We must always preserve this essential

we bear. Although some aspects ofthere are many CSR activities that can
only be implemented by a large organization. Every day, I feel that those

activities help us to earn high marks
and trust from customers.

Tsuchikawa: There is also a growing

need in society to figure out how tomeet the nursing care requirementsof an aging society. I think it would
be great if the T&D Life Group could
further enrich its nursing care support.

Ito: One major theme for the life
insurance industry is to simplify andspeed up insurance procedures inorder to boost customer convenience.
By speeding up the application review

process, we can reduce the time spentby customers waiting for a decisionon whether or not they may enroll ina policy. By simplifying and expediting
payment assessments, we can deliver

the necessary insurance claims andbenefits to customers as quickly

for our customers in their time of need.
aspect of insurance. We need to build

systems that enable customers tocomplete procedures as smoothly as

possible when enrolling in policies orgoing through other procedures. If theunexpected happens, we need to pay

out insurance claims rapidly. We needto provide security to our customers,

and continue to do so. I believe thatdoing these basic things appropriately
and consistently is our CSR.

Ito: The financial services industry isgoing through rapid changes and susceptible to the impact of such changes.

In this climate, it is vital to constantly
remain attuned to changes, as well as

to have the ability to anticipate andrapidly respond to changes. I believethat it is important to instill such anawareness throughout the Group toprovide products that deliver evengreater customer satisfaction, which
will eventually lead to fulfilling our CSR.

commenced ESG investment. ESG issocial (S) and governance (G). ESG
investment is an investment approachthat focuses on selectively investing in

the companies that give special consideration to ESG. I believe that com-panies that neglect CSR will be unable
to achieve sustainable growth because

they will not be accepted by society.
Meanwhile, companies that pursue

CSR in earnest will have the potential

to increase their competitiveness inthe future. Therefore, I believe that CSR

and corporate value are inseparablefrom one another. As a fund manager,

I believe that one aspect of T&D LifeGroup’s CSR is to help build an evenbetter society through our selection of
portfolio companies.

Tsuchikawa: Corporate Philosophy of

the T&D Life Group is“With our‘Try& Discover’motto for creating value,

we aim to be a group that contributes
to all people and societies.”I believethat the T&D Life Group should strive
to provide security to all people andto fulfill the unmet needs of customers

and society by complementing eachother across the entire Group. I believethat is one ideal form of CSR at the
T&D Life Group.

Ryoko Maejima
Global Equity Investment Department
T&D Asset Management Co., Ltd.
Nozomi Ito
Sales Promotion Department
T&D Financial Life Insurance Company

3平成27年10月新設

Social Issues (1)Message from a Product Development Staff

平成27年10月新設

これからの高齢化社会をともに生きていくために。

Toward a Society Where People Can Lead
Their Entire Lives with Peace of Mind
—In Preparation for the Changing Risks of the Future
Characteristics of risks that we seek to be prepared
for in the future are constantly changing in stepwith various changes in society,

Number of People Certified as Requiring
Long-term Care by Long-term Care Level■ Long-term care level 1 to 5■R equiring support levels 1 & 2 andtemporary long-term care level(Ten thousands of people)
600
500

such as acceleration of low birth rates and400

aging population, and advances in medicine.

300

The T&D Life Group will help its customers prepare

200

for the future through the development of innovative100

insurance products and services, staring at thechanging risk characteristics of the future.

2004

0

2013 (Fiscal Year)

Source: Monthly Report on the Status of the Long-term
Care Insurance System, Ministry of Health, Labourand Welfare

As the average life expectancy isextending, the number of people certified
as requiring long-term care is also
increasing every year.

The Road to the Launch of New Products
The number of people who require nursing
have grown as a result of the aging population, and the risks associated with nursing
have become more familiar.
In fact, our questionnaire survey conducted in fiscal 2014 revealed that a large
number of people were concerned about
the nursing problems they and their family
members will be facing in the future.
Meanwhile, not many people have beenenrolled in private-sector nursing care insurance. Compared with the insurance coveragefor injury and illness, nursing care protection
is not sufficient.
In light of these social circumstances, we
anticipated that there would be stronger

Daido Life
(Kaigo Relief)
Insurance coveragefor nursing care costs
including costs incurred
when moving into a
nursing care facility.

ご加入特典

大同生命 介護コンシェル
詳しくは 裏面へ

当商品にご加入いただいたお客さまは介護に関するさまざまな不安やお悩みの解決をサポート
する無料サービスをご利用いただけます。

無配当終身介護保障保険
ご加入特典

大同生命 介護コンシェル
詳しくは 裏面へ

当商品にご加入いただいたお客さまは介護に

needs for nursing care protection products
from customers going forward. That is why
we developed two types of nursing care protection based on different product concepts.
Together with a new service that comprehensively supports nursing care, these two typesof products were launched on October 1,
2015.

関するさまざまな不安やお悩みの解決をサポート
する無料サービスをご利用いただけます。

無配当介護収入保障保険（無解約払戻金型）

Daido Life (Shunyu Relief)
Insurance coverage for lossof income in the event that abusiness owner or sole proprietor
requires long-term care.

Our Aspirations
The two new nursing care protection products were developed based on different
product concepts. For cases in which customers require nursing care, the first productwill cover the living expenses of the customer
and his or her family members, whereas thesecond product will cover the costs associated with nursing care.
We developed these products with theaspiration that, should our customers requirenursing care, they would be able to receive
nursing care in relief, without having to feelthe financial burden.
Private-sector nursing care insurance
products provide a means of supplementing
Japan’s public Long-term Care Insurance
System, and so they will play a significant rolein contributing to society.
Looking ahead, we will continue working
to develop products that address changes
in the social landscape such as low birthrates, an aging population, and advances inmedicine.

Kousuke Sasaki

Associate Manager, Product Development & Planning Department
Daido Life Insurance Company

Feedback
ersfrom Custom
is reassuring
This productbe en de sig ne dbe ca us e it ha ss of companies
with varied need
ne rs in m in d.
an d bu sin es s ow
u wi ll co nt in ue
I ho pe th at yo
uc ts wi th an
to de ve lo p pr od
d coverage.
enriched policy an

I could clearly tell that thisproduct was developed from thecustomer’s standpoint and thatthe sales representatives werepassionate about conveying its
features.
urI pu rch ase d thi s ins
e
nc
de
nfi
co
h
wit
an ce
ct
du
pro
a
is
it
e
bec ausithat supports SME bus
s.
ner
ow
ness

I am gl ad that yo ur fi rm
w as qu ic k topr ov id e th ein su ra nc e pr
od uc t se rv ing
m y pu rp os es
be st . I ho pethat the sales staff will w
orkeven harder topromote suchproducts.

(Customer feedback from the Customer Satisfaction Survey conducted in fiscal 2015.)

45

Social Issues (2)Initiatives of the T&D Life Group

Toward a Society Where Everybody Can
Work Vibrantly—For the Sustainable Growth of Companies and Society
The environment surrounding companies and society is changing dramatically, highlighted
by continuing progress of globalization, as well as diversifying lifestyles and work styles.
For companies and society to attain sustainable growth, a diverse range of human resourcesmust be able to demonstrate their respective abilities. The T&D Life Group is working
to shape an environment where diverse human resources can play an active role,with a view to attaining the sustainable growth of companies and society.

Needs that must be met in continuing work while raising children (Multiple answers were possible)

The T&D Life Group has advanced efforts to nurture a corporate culture where diverse human resources can feel job
satisfaction and reach their potential.
Particularly in our Group, where female employees accountfor a significant part of the total workforce, it is a key driverfor corporate value creation and sustainable growth to enable
women to further demonstrate their abilities to the fullest.
Therefore, we duly recognize that promoting the active participation of women is a crucial management priority for the Group.
With this in mind, the T&D Life Group’s three core life insurance companies have revised their respective personnel andremuneration systems, as well as introducing various support
systems to enhance work-life balance.

Action Plans

Promote active participation of
female workers at the Group’sthree core life insurance companies
Initiatives
Implement systematic cultivationand promotion of female employees
to management positions
Enhance career development
and work-life-balance support
measures
Transform the mindset ofmanagers
Targets set for promoting
female employees tomanagement positions

Ratio of female managers(Achievement deadline)

Systems and work environments that enable
employees to continue working while raising children
49.6%

86.5%
87.6%

Long-term job security
39.5%
38.9%
39.0%

Flexible work hours
34.0%

50.1%
60.1%

No excessive overtime
30.7%

46.6%
42.1%

Recognition of job performanceby supervisors and colleagues
24.0%
30.2%
24.1%

■ Men (regular employees) n = 2,248■ Women (regular employees) n = 1,131■ Women (non-regular employees) n = 1,109

Systematically cultivate andpromote motivated andtalented female employees

Promote diverse
work styles and support
new challenges

Examples of initiatives

Examples of initiatives●●

P rovide female employees with
opportunities to assume larger roles
and gain new business experience● P rovide female manager candidates
with training for management positions● T ransform the mindset of managerial
employees through training for
managers and other programs

and other initiatives

More than 20%(April 2018)

Tasks worth the challenge at work
49.8%
36.9%
37.0%

By fostering Group-wide collaboration to
encourage male employees to take childcare
leave and measures to reduce total working
hours, we are promoting the creation of
Terunori Yokoyama
workplace environments where everybody is
Director and Senior
Managing Executive Officer
motivated to play an active role.
T&D Holdings, Inc.
To steadily advance initiatives to promote the active participation of female workers, the Group’sthree core life insurance companies formulated action plansin fiscal 2014 based on their respective business models.
Going forward, the T&D Life Group will further promote
the active participation of female employees with the aim ofcreating new value.

P rovide an expansive range of careerdevelopment paths and long-term careerdevelopment using various systems● Improve the motivation of female employees
and transform the mindset of supervisors
through training and other programs● Introduce innovative work styles using various
systems, including working from homeand other initiatives

More than 15%— More than double the 2013 level of 7% —(April 2020)

Become a company
where female workers canwork free from anxiety andreach their full potential

Examples of initiatives

Regularly hold training programs on
career, capability, and upward skill
development● Implement job rotations● 
Enrich initiatives to promote diverseand flexible work styles●

and other initiatives

More than 10%(April 2019)

To Promote the Active Participation of Female Workers
Joint Group Co-Working Training in Pairs for Female Employees and Their Supervisors

Training in pairs for female employees and their section managers who serve as theirsupervisors were held at the Group’s two head offices in Tokyo and Osaka. The goal of
the training was to have female employees and their supervisors attend the same program
together, and to consider career development issues from their respective standpoints.
The training was attended by 51 participating pairs, or 102 individuals, from theGroup’
s three core life insurance companies. The participants were divided into groupsof three pairs, or six people each, to give three-minute self-introductions based on thetheme of“something you were praised for recently,”and to conduct role-playing exercises
in career counseling situations with the female employee and supervisor roles reversed.
The groups also gave team presentations and conducted other activities.
The participants commented that the training deepened their understanding of careerdevelopment and management, along with making them aware of differences in values
and perspectives. One participant said,“The training program gave me a good opportunity
to take a fresh look at my career plan.”Another said,“I am now aware of the differencesand gaps in thinking between female employees and their supervisors.”

Taiyo Life

Daido Life

T&D Financial Life

Training of Female Office Workers

The“Challenge Women’s Workshop”

Training to Support Women’s Active Participation

Taiyo Life conducts training focused on
further inspiring female employees to challenge a new goal without fear of change,
and to draw up and pursue their own
career vision.

Daido Life created a four-month workshop
attended by female employees only. Under
the guidance of an external instructor (Ms.
Satoko Gibbs), the participants learned about
the mindset and skills needed by women tocontinue working vibrantly, and conductedstudies and research activities as a group.

For female employees, T&D Financial
Life conducted a training program tosupport women’s active participation.
The program is to drawn an image of an
ideal leader, and seeks to improve theleadership skills and tenability needed to
become such a leader.

Source: Survey to monitor actual conditions ofchildcare leave and other systems
Fiscal 2011 Questionnaire survey of workers
Mitsubishi UFJ Research and Consulting Co., Ltd.,
commissioned by the Ministry of Health,Labour and Welfare

67

The T&D Life Group strives to protect the environment through its daily business activities.
Social Issues (3)We set Group-wide targets for reducing electric power use, as presented below,
as well as for reducing office paper use and improving the green purchasing ratio.
The T&D Life Group companies are working hard to achieve these targets.

Toward a Sustainable Society—Preserving a Healthy Global Environment
for Future Generations

The society we live in rests upon the foundation provided by the global environment.
In order to pass to the future generations a society where all people can workin relief vibrantly, we must preserve a healthy global environment for future generations.
To hand a healthy global environment to the children living in tomorrow’s society,
the T&D Life Group is actively engaged in activities to protect the global environment.

Initiatives for Reducing Environmental Impacts
Initiatives for Reducing Electric Power Use
Taiyo Life implements the Cool Biz campaign, which involves
setting the air-conditioner temperature at 28°
C in theoffice from May to October, and the Warm Biz campaign,
which involves setting the room temperature at 20°
C fromNovember to March. We also endorse the“Reduce CO 2:‘Lights Down’Campaign”promoted by the Ministry of
the Environment. As part of this campaign, we call for asimultaneous switch-off of all the lights in offices twice ayear, in July and December.

(MWh)150,000

T&D Life Group’s Electricity Consumption

100,000

Carbon Dioxide (CO2) Emissions (Japan)(Energy-derived emissions)

Million tons
1,300

50,000

0

2010

2011

2012

2013

2014

(Fiscal Year)* Total power consumption by Taiyo Life, Daido Life, T&D Financial Life,
T&D Asset Management, and T&D Information Systems

2004

1,000
2013 (Calender Year)

Source: N ational Institute for Environmental Studies,
Center for Global Environmental Research,
Greenhouse Gas Inventory Office

Approximately 90% of greenhouse gas
emissions are CO2 originating from theenergy we use.

In addition to the above-mentioned power-saving
activities, we are implementing a multitude of measures
to reduce electric power use. These measures include
introduction of a power demand monitoring system forsetting and controlling peak-time electric power use in eachbuilding and a“no overtime”day.

Our Aspiration to Help Solve
Global Environmental Issues
Our daily lives and economic activities are premised upon thefoundation of a healthy global environment. Although manydifferent environmental issues are now making headlines,
we believe that we can play a part in helping to prevent
global warming, a major environmental issue, by raising alittle bit more environmental awareness and, for example,
saving power consumption. I
hope that every one of us willcontinue to take consideration of
the environment, steadily makesmall improvements, and work to
reduce our environmental impact.

Shizuka Munakata

Manager, General Service Division,
General Affairs Department
Taiyo Life Insurance Company

Forest Conservation Activities
Taiyo Life conducts afforestation projects to protect forest

resources and the biodiversity of forest ecosystems. It hasestablished the“Forest of Taiyo Life”in Nasushiobara,
Tochigi Prefecture and Takashima, Shiga Prefecture.

In December 2014, Taiyo Life conducted the firsttree-planting ceremony for the“Acorn Project,”a program
implemented together with elementary school children in
Takashima, Shiga Prefecture.

The first participants in this project, who were in the third grade of elementary

school when the project got started in 2011, had grown to be sixth graders at

the time of the tree-planting ceremony. At the ceremony, they planted
the konara oak seedlings they had grown on their own from acorns.

The ceremony marked a pleasant, memorable day for the children, whohave played a key role in preserving the forest for the future.

Acorn Project: This program is carried out by Taiyo Life at the Kutsuki Forestof Taiyo Life in cooperation with a local elementary school. Children in the third
grade grow seedlings from acorns gathered in the forest, and plant the seedlingsin the Kutsuki Forest of Taiyo Life three years later when they graduate.
The project provides an opportunity for the children to experience andunderstand the importance of protecting the natural environment.

89

Together with Society

Promotion of the Group’s CSR Activities and Status of Activities
The T&D Life Group has established the Group CSR Committee, chaired by the president of T&D

Level UP!!

Contributing to the Sound
Development of Society

Holdings, and consisting mainly of directors in charge of CSR at each group company. Under thiscommittee, we are pushing ahead with unified Group-wide CSR activities. The Group CSR Committee

Checkserves as the cornerstone for promoting the Group’s CSR activities. It formulates basic policies for
the Group’s CSR activities and selects important focus areas, along with drawing up annual plans
and regularly confirming the implementation status of those plans. In fiscal 2015, the Group CSR

Committee positioned“Providing Better Products and Services,”“Respect for Human Rights”andActionDo“Global Environmental Protection”as high priority areas as it advances the Group’s CSR activities.

FY 2014 Group CSR Activities Progress Report (A Partial Account of the Activities)

Plan

Listed below are the major Group-wide activities. Apart from these activities, each Group company implements a variety of initiatives.

Initiatives Plan

Results/Performance Do

Activities planned for FY 2015 Check Action● Providing better products and services• Expanded the scope of Hoken Kumikyoku Best nursing care coverage,
and launched Keido Kaigo nursing care protection, featuring coverage
starting from care support levels 1 & 2, and long-term care level 1.
Expanded the eligible age for medical care insurance products.
• Launched the T-Type product covering the risk of retirement in case ofphysical disability (nonparticipating disability protection policy).
•A dded new types of annuity payments to income protection insurance,and expanded the eligible age of insured for mainstay single premium
whole life insurance products.

(Three life insurance companies)• Provide the best comprehensive coverage tohouseholds• Respond to the diversifying needs of SMEs
comprehensively• Provide differentiated products throughindependent insurance agents such as
financial institutions• Develop and provide productsthat meet changing customer
needs.
• Further promote the Best Senior
Service initiative to enhance
convenience and satisfaction for
elderly customers.

● Respect for human rights[Human resource development initiatives]• Conduct personnel exchanges within theGroup• Promote understanding and penetrationof Group management among corporate
officers and employees• Conducted personnel exchanges through mutual personnel assignments among four Group companies.
• Implemented Group management training for approximately 500 mid-level employees, in addition to corporate
officers and general managers, of the three core life
insurance companies.

[Promoting the active participation of women]
Further upgrade measures for promoting theactive participation of women• Facilitate short-term exchanges of female
employees within the Group• Set quantitative targets for promoting theactive participation of women• Continued implementation of exchange programs forfemale employees among Group companies.
• Implemented co-work training attended by pairs of female
employees and their supervisors.
•F ormulated and announced action plans including quantitative
targets for appointing female employees to management
positions by the three life insurance companies.

[Promoting work-life balance]
Integrated promotion of active participation of
women and work-life balance• Upgrade and improve work-life balance
support measures• Deliberate and implement measures toreduce work hours• Formulated the Group-wide sixth action plan to address
the extension of the Act on Advancement of Measures to
Support Raising Next-Generation Children.
• The three life insurance companies applied for certification for the “Platinum Kurumin” mark, whose approval isconditional upon achieving quantitative targets related towork hours.

• Expand personnel exchanges among Group
companies.

• Foster information sharing regarding theinitiatives and plans of the Group companies
in preparation for the enactment of laws to
promote women’s active participation.
• Plan collaborative measures by the Working
Group for Promoting the Active Participationof Women.
• Promote measures in the Group’s unified
action plan for the Act on Advancementof Measures to Support Raising NextGeneration Children.
• Implement collaborative awareness-raising
activities aimed at fostering a good
workplace culture.

● Global environmental protection

Reduction in power consumption
Period: FY 2013–FY 2017 (Baseline year: FY 2009)
Scope: Buildings owned, leased and used by the T&D
Holdings and core Group companies
Target: M ore than 10% reduction in power consumption
per floor space

Implemented a multitude of measures, including
lights-out before business hours and during lunch
break, and turning off office appliances, as well
as setting a “no overtime day” and implementing
Cool Biz and Warm Biz campaigns plus a Lights
Down campaign.

Steady progress through FY 2014: A reductionof 18.3% from the baseline year.
Continue to implement the measures shownon the left in order to further reduce power
consumption.

Reduction in office paper use
Period: FY 2014–FY 2018
Baseline: A verage of office paper usage between FY2009 and FY 2013
Scope: P aper used at T&D Holdings and head offices of
the core Group companies
Target: 9% reduction from baseline

Promoted reduction in office paper use primarily
by introducing paperless conferences, reducing
meeting materials, utilizing 2-in-1 and two-sided
printing and enforcing stricter control over useof copies.

Steady progress: In FY 2014, achieved 87.3%
compared to the baseline level and 98.2%
compared to FY 2013.
Continue to implement the measures shownon the left to reduce office paper use inaddition to expanding paperless conferences.

Green purchasing ratio
Target: A green purchasing ratio for stationery andother office supplies of 80% or more
Scope: T&D Holdings and core Group companies

Established Group-wide Green Purchasing
Standards, and promoted preferential purchasingof green products.

Continued to achieve target, with an actual
FY 2014 green purchasing ratio of 96.0%,
compared with 95.4% in FY 2013. Continue
to implement initiatives that give priority topurchasing eco-friendly products.

• Conducted Group CSR seminars for corporate officers andgeneral managers.
• Issued Group CR reports. Prepared a “Focus Edition” forcustomers and the general public, and a “Data Edition”
primarily for investment professionals. Obtained third-party
assurance regarding environmental data.

• Conduct multiple seminars focused onthemes tailored to the corporate officer
and general manager level and the section
manager level.
• Prepare and issue CR reports that address
the interests and needs of readers.

•G roup companies participated in Taiyo Life’s Nationwide Clean
Campaign and the Tokyo Shiba District Clean Campaign.
•B lood donation campaigns held twice a year at the Shiodome head
office building through cooperation with the Group. (In FY 2014,
415 people in aggregate visited the sites for blood donation.)• Continue to participate in clean campaigns
as a Group in FY 2015.
• Continue blood donation in FY 2015.

● Communication• Enhance CSR awareness among corporate
officers and employees• Provide CSR information to stakeholders● Contribution to local communities• Clean campaigns(local community clean-up activities)• Group-wide blood donation activities

10

Fiscal 2014 Activity Report

Clean Campaign

Since 1982, Taiyo Life has carried out clean-up
activities in the vicinity of its head office as part of its
social contribution to local communities.
Since 2004, these activities have been expanded as the Nationwide
Clean Campaign, with branches across the country undertaking
clean-up activities in their own local communities. Executives andemployees from Group companies, as well as their family members,
assisted with clean-up activities in the Shiodome district, where theGroup’
s head office is located. In fiscal 2014, a total of around 8,100
people took part in community clean-up activities across Japan.

Supporting the National Sports Festival
for People with Disabilities

Daido Life has been a special sponsor of the National Sports Festival for
People with Disabilities for over 20 years since the first National Sports
Games for the Mentally Handicapped (Yuaipic) was held in 1992, when
Daido Life celebrated its 90th anniversary. In fiscal 2014, the Nagasaki
Ganbaranba Festival, as this year’s event was called, was attended byaround 200 people who served as volunteers, including executives andemployees of Daido Life and Taiyo Life, as well as members of Daido
Life’s alliance partners.

Endowed open courses at universities

Daido Life has continued to endow open courses at universities since
2002, as part of the company’s centenary celebrations. These courses
provide managers of small- to medium-sized businesses and their successors with opportunities for acquiring knowledge and skills relevant
to management and business, and they have been well received byover 10,000 attendees in total over the past 13 years. In fiscal 2014,seven courses were held at six universities across Japan.

Contributing to the Improvement of Health,
Medicine and WelfareGroup-wide blood donation activities

In cooperation with the Japanese Red Cross Tokyo Metropolitan Blood
Center, the T&D Life Group conducts blood donation activities at the
Shiodome head office building twice a year in August and January. The
Group jointly encourages executives and employees of Group companies
to lend their cooperation in blood donation. In fiscal 2014, a total of 415
executives and employees participated in these blood donation activities.

Supporting the Japan Down Syndrome Association

Since 2006, Taiyo Life has been involved in various support activities
for the Japan Down Syndrome Association. In 2014, Taiyo Life invited
families from the Association’s Tochigi Branch to join a forest studies
class held in the Forest of Taiyo Life, where the company has been
undertaking forest management activities since 2006. The invited families spent a pleasant day in the forest surrounded by fresh greenery.

Support for recovery from the Great East Japan Earthquake

Executives and employees of Group companies cooperated with
the Project to Deliver Picture Books to the Children of Disaster-hit
Areas, organized by the Japan Philanthropic Association. Through thisproject, the Group was able to donate a total of 1,381 picture books
collected from across Japan to the children in disaster-hit areas.

11

Initiatives as an Institutional Investor (Responsible Investment)

The T&D Life Group operates the life insurance business as its core business, which is ofa highly social and public nature. Accordingly, we believe that it is one of our most fundamental
obligations to fulfill our social responsibilities as an institutional investor and contributeto the realization of a sustainable society through our investment and lending activities.
● Principles for Responsible Institutional Investors (Japan’s Stewardship Code)Institutional investors have responsibilities to improve andfoster investee companies’corporate value and sustainable

Dialogue with Investee Companies (Engagement) andExercise of Voting Rights

they perform asset management services. In February 2014,● We engage in purposeful dialogue with investee companies on a daily
basis in order to foster their sustainable growth.

growth, and to meet the expectations of the clients for whom

the Principles for Responsible Institutional Investors (Japan’s
Stewardship Code) was formulated to define principles andguidelines that are considered helpful to fulfilling those respon-

sibilities. The T&D Life Group’s three companies, Taiyo Life,
Daido Life and T&D Asset Management have endorsed andexpressed their commitment to the Principles for Responsible● When exercising voting rights as a shareholder, we decide whether tovote for or against a proposal based on not only formal assessmentsof financial information and other data, but also consideration of nonfinancial information on Environmental, Social and Governance (ESG)
and other related issues.
● We have established guidelines on exercising voting rights to ensurethat voting rights are exercised appropriately. We engage in dialogue
with the investees on proposals that conflict with these guidelines. In
the event that such dialogue offers no prospects for improvement, we
strictly implement our guidelines by voting against the proposal.

Third-party Opinion

Proactive Communication
with Stakeholders Worldwide

Takeshi Mizuguchi

Professor, Faculty of Economics, Takasaki City University of Economics
Graduated from College of Policy and Planning Sciences, Third Cluster of Colleges, Tsukuba University in
1984. After working at Nichimen Corporation and Eiwa Audit Corporation, he became an instructor in the
Faculty of Economics at Takasaki City University of Economics, and assumed his present position in 2008.
His primary areas of research include environmental accounting and socially responsible investment. He
had also served as Chair of the Japanese Institute of Certified Public Accountants’Technical Committee on
Environmental Accounting, and as a member on the Central Environment Council’s Special Committee on theEnvironment and Finance. At present, he serves as the joint representative director of the Japan Sustainable
Investment Forum. His principal books include Responsible Investment (Iwanami Shoten), Accounting andInvestment for Social Change (Iwanami Shoten), The Environment and Financial/Investment Trends (author/
editor, Chuo Keizai-sha), and Environmental Management and Accounting (co-author, Yuhikaku Publishing.

In this year’s digest version of the CR Report, the T&D Life

their supervisors in pairs is a brilliant idea. In addition, I highlyGroup’s PDCA cycles were easier to understand. The reportcommend the T&D Life Group for setting quantitative targets

clearly presents the plans, performance and results, and future

for the ratio of female employees in management positions.

activities in each of the three priority areas laid out at theIn fiscal 2015, the T&D Life Group became a signatory to

T&D Financial Life has not expressed its commitment to these Principles
because it does not hold any domestic listed shares.

beginning of the report. In particular, I am pleased to see that

the UN Global Compact, joining yet another international ini-

“Providing Better Products and Services,”which refers directly

tiative. Moreover, Taiyo Life and T&D Asset Management haveto the core life insurance business of the T&D Life Group, wassigned the Principles for Responsible Investment (PRI), which is● Principles for Responsible Investment (PRI)● Group-wide Commitment to Social Responsible Investment (ESG Investment)

positioned at the heart of the PDCA cycle for CSR. I whole-closely related to the UN Global Compact. The time may be

The Principles for Responsible

Taiyo Life and Daido Life have invested in a new ESG fundheartedly embrace the T&D Life Group’s philosophy of defining

the right for the entire T&D Life Group to sign the PRI.

Institutional Investors (Japan’s Stewardship Code).

Investment (PRI) is the guide-lines for financial institutions
advocated by the UNEP

Finance Initiative and the UN Global Compact, which encourage

global financial institutions and institutional investors to promote
investment activities in consideration of Environmental, Social andGovernance (ESG) issues. In 2007, Taiyo Life within the T&D LifeGroup signed the PRI as the first Japanese life insurance company.

The company developed its asset management processes basedon the PRI and has conducted the asset management accordingly.

In 2012, T&D Asset Management signed the PRI, and since thenhas been working to improve its medium- to long-term investment

investing in Japanese equities, established and managed by

T&D Asset Management. This is the start of a group-wide

the main thrust of its CSR as properly implementing the life

Another major step forward has been the start of joint ESG
investment by the T&D Life Group, following Taiyo Life andinsurance principle of mutual assistance.
In this sense, I believe that the T&D Life Group’s develop-

Daido Life’s investment in an ESG fund set up by T&D Assetment of two types of nursing care protection products, which

Management. This report’s introductory feature contains a

is presented as an example of how the Group is addressing

discussion by Group employees. During the discussion, ansocial issues, is very timely. It is evident that the issue of

employee said,“I believe that one aspect of T&D Life Group’slong-term care will become increasingly severe as social aging

CSR is to help build an even better society through our selec-

the fund seeks to generate investment returns that outperform

continues. Therefore, a large number of people will benefit

tion of portfolio companies.”I found these words to be very

the medium- to long-term market average. And by investingfrom products that supplement Japan’s public Long-term

reassuring. Meanwhile, responsible investment is advancing

in companies that seek to reduce environmental impact andCare Insurance System. In particular, I believe that the T&D

further around the world, particularly in Europe. Numerous

help achieve a sound society, the fund aims to play a part inLife Group can make a crucial social contribution by provid-

pension funds and life insurance companies are proactively

forming a sustainable society.

ing even stronger support for small and medium enterprises

voicing their opinions on social issues such as global warming,(SMEs), which have served as the backbone of Japan’s econ-and thereby exerting a positive influence on companies andomy, through these sorts of insurance products.

governments. These pension funds and insurance companies

ESG investment by the T&D Life Group. (The fund operation
started in July 2015.) This fund selectively invests in com-panies with an outstanding ESG (Environmental, Social andGovernance) performance through ESG research. In doing so,

performance by incorporating ESG factors into corporate evaluation.

Participation in Initiatives (2014–2015)

I believe that the Forest of Taiyo Life program of having

are doing so because they believe that these efforts will ulti-

elementary school children in the third grade grow seedlings

mately help to preserve the value of their investments. I urge

from acorns is an outstanding way to educate children about

the T&D Life Group to proactively participate in discussions

the environment. I also feel that training female employees andoverseas and to make its presence felt on the world stage.

● Participation in the UN Global Compact (July 2015)

The UN Global Compact is a voluntary initiative for participation in a global framework within
which companies can practice good corporate citizenship and help to achieve sustainablegrowth by demonstrating responsible and creative leadership. The UN Global Compact proposesten principles related to the protection of human rights, the elimination of unfair labor practices,

CSR Group, Group Planning Department, T&D Holdings, Inc.

the protection of the environment and the prevention of corruption. Considering that these ten

In preparing this fiscal year’s report, we focused on identifying

institutional investor. This year, we assume that Prof. Mizuguchi

the key social issues for the T&D Life Group and on conveying

has expressed an appreciation to the Group’s social contri-

decided to sign the ten principles on behalf of the Group and have the entire Group participate

how we are working to address those social issues.

bution activities, undertaken through its core business, andprinciples are consistent with the T&D Life Group’s approaches and policies, T&D Holdingsin the UN Global Compact.

● Participation in the Principles for Financial Action for the 21st Century (July 2014)

The Principles for Financial Action for the 21st Century were drawn up as guidelines for action
by financial institutions seeking to fulfill their roles and responsibilities in shaping a sustainable
society, based on the recommendations of the Central Environment Council of the Ministry of
the Environment. T&D Holdings and its five directly owned subsidiaries have each endorsed

and become signatories to the Principles for Financial Action for the 21st Century. The T&D LifeGroup companies are working to achieve a sustainable society not only through their core businesses but also through an expansive range of business activities.

12

Response to Third-Party Opinion

The report covers the T&D Life Group’s contribution to

our initiatives for responsible investment. Furthermore, hesociety through the provision of insurance products andexpressed his expectations for the Group to make further

services, which is our most fundamental obligation as an insur-

strides and increase its global presence in the field of respon-ance group. The report also looks at the Group’s measures tosible investment by means of proactive communication of ourcontribute to society by fulfilling our social responsibilities asviews worldwide.

an institutional investor. In his third-party opinion about our

We have taken Prof. Mizuguchi’s opinions seriously as

FY2014 CR report, Prof. Mizuguchi provided feedback regard-reflecting his high hopes for the Group to continue making

ing the execution of PDCA cycles for CSR activities through theprogress. To meet these expectations through our activities

Group’
s core business, and shared his expectations for theahead, we will continue working as a group to advance to theGroup to implement stewardship activities as a responsible

next stage.

13