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2

3 CONTENTS PART MCEV PART LiPSS PART ERM Enterprise Risk Management PART

4 Sony Life Insurance Co., Ltd

5 * 1 8.0% 5 1,513* 1 5.3%43 1,49856 * 2 2,722.8% *1 *2 solvency margin Sony Life Insurance Co., Ltd. 2016

6 Photo by Kazumi Kurigami/Igfy Corporation

7 Life Insurance Co., Ltd Sony * Million Dollar Round Table MDRTMDRT MDRT One Love One Trust 7 * * ,498 27

8 006 Sony Life Insurance Co., Ltd %14%

9 SA Reinsurance Ltd Sony Life Insurance Co., Ltd. 2016

10 008 Sony Life Insurance Co., Ltd ,115,494 * ,823,690 *

11 CM28 7 Sony Life Insurance Co., Ltd. 2016

12 010 Sony Life Insurance Co., Ltd. 2016

13 PART 1 Sony Life Insurance Co., Ltd

14 Sony Life Insurance Co., Ltd ,345,780 39,124,675 40,500,241 42,430,898 44,749,196 35,707,301 37,366,333 38,628,089 40,391,018 42,293, , , , , ,062 1,268,718 1,345,632 1,405,237 1,442,198 1,599,364 57,811 56,503 55,196 17,210 13, , , , , , , , , , ,707 4,207,045 4,460,210 3,894,484 4,776,917 5,152,456 4,145,663 4,396,676 3,814,291 4,625,700 4,871,062 57,664 57,931 75, , ,332 3,717 5,602 5,104 5,291 1,061 70,854 73,263 63,992 76,612 85,018 17,101 18,397 13,486 15,285 15, ,400 1,142,274 1,197,109 1,223,827 1,230, , , , ,034 1,028, , , , , , ,964 1,067,614 1,127,904 1,144,162 1,169, , , , , ,370 14,370 11,686 8,506 9,727 23, , , , , ,334 69,436 74,659 69,205 79,665 60,792 31,426 42,444 37,063 42,524 37,096 71,685 80,045 72,365 76,505 43, ,000 70,000 70,000 70,000 70,000 70,000 70,000 70,000 70,000 70,000 5,222,846 5,952,750 6,624,903 7,301,350 8,035, , , , , ,323 4,843,020 5,472,930 6,123,633 6,727,241 7,336, , , , , ,649 4,545,019 5,211,535 5,954,716 6,543,703 7,273,361 1,980.4% 2,281.8% 2,358.7% 2,555.0% 2,722.8% 6,060 6,323 6,553 6,781 7,

15 , , , % 1 5, % 44 7, % 704 6,8015.6% ,5138.0% % 5 1, % 62 9,9913.8% + + H27 450, , , ,000 90, ,937 8,560 H26 H24 H23 H25 403,910 5, , ,663 3,697 4, ,280 4, ,498 H27 50,000 40,000 30,000 20,000 10, ,513 48,710 H25 H24 H23 H26 46,257 1,459 41,456 43, , , ,513 Sony Life Insurance Co., Ltd

16 Sony Life Insurance Co., Ltd * * % 0.9% 11.4% 8.9% 61.0% % 4.72% 13.0% % % H H H24 H H25 H H26 H H H27

17 GDP % % % %* % % , , =120 1= = = * ,850 6, % 6 3, % % %2, % 1, %1, % % % 3.9% 0.0% 0.3% 0.5% 1.0% % 1.6% 1.2% 88.4% Sony Life Insurance Co., Ltd. 2016

18 Sony Life Insurance Co., Ltd ALM 10 ALM ALM Asset Liability Management co.jp/

19 1 2803, , ,633 3, H27 H26 H25 H24 H23 12,500 10,000 7,500 5,000 2, ,161 9,258 9,140 9,609 H27 2,000 1,600 1, , H25 H24 H23 H ,706 1,540 1, ,705 2, , ,633 Sony Life Insurance Co., Ltd

20 Sony Life Insurance Co., Ltd % H23 21 H24 84 H H H27 * 2 * 1 * 2 * * 3 * 1

21 , % 274, % ,365 H27 H26 H25 H24 H23 100,000 80,000 60,000 40,000 20, ,013 59,527 66,249 52,228 H27 H26 H25 H24 H23 100,000 80,000 60,000 40,000 20, ,365 67,272 54,729 61,236 48, , , Sony Life Insurance Co., Ltd

22 Sony Life Insurance Co., Ltd A 3 2,241 B 1 1, A ,241 B ,566 ALM ALM ALM 40,000 32,000 24,000 16,000 8, ,714 7,155 H23 13,968 H24 8,451 13,464 H25 9,161 18,830 H26 3 2,241 10, ,566 H = ,793 65,034 70,562 81, ,283 52,228 59,527 66,249 73,013 80,354 1,558 5,517 4,303 8,394 20, = 45,079 51,065 57,098 62,768 69,041 49,580 56,104 62,556 68,688 75, ,511 3,730 4,002 4,296 4,710 a 3,504 3,725 4,000 4,293 4,707 b A1 2 8,714 13,968 13,464 18,830 32, ,558 5,517 4,303 8,394 20,675 B ,155 8,451 9,161 10,435 11,566

23 021 2,722.8% solvency margin ,722.8% 27 A 1,169,875 B 85,930 A 2,722.8% 1/ = x90 + x = R1 + R8 2 + R2 + R3 + R7 2 + R Sony Life Insurance Co., Ltd. 2016

24 Sony Life Insurance Co., Ltd ,711 7,751TOPIX ,083 22,711 12,628 8,394 20,262 11, ,688 2, ,455 1, ,

25 023 MCEV MCEV EV EV EV EV 20 3 EV Traditional EV European Insurance CFO Forum Market Consistent Embedded Value Principles *MCEV Principles Market Consistent Embedded Value MCEV MCEV *Copyright Stichting CFO Forum Foundation 2008 MCEV MCEV = + Sony Life Insurance Co., Ltd. 2016

26 Sony Life Insurance Co., Ltd MCEV MCEV CFO Chief Financial Officer CFO 21 10MCEV Principles 27 MCEV MCEV MCEV 2,592 ALM * MCEV 13,229 10,637 2,592 11,192 20,744 9,552 2,037 10,107 12, * * 8 25,000 20,000 15,000 10,000 5,000 0 MCEV 11,192 MCEV 2,037 H26 13,229 20,744 H27 10, , ,192 20,744 9,552 4,325 4, ,395 20,262 11, ,820 6,214 3,

27 ,14427 MCEVALM ,037 10,107 12,144 6,529 3,931 10,460 1,549 1, ,741 4,344 1,602 MCEV MCEV MCEV MCEV 13,229 MCEV 200 MCEV 13, MCEV 1,041 3, MCEV 2,393 MCEV MCEV 10,637 MCEV MCEV 10,637 50bp 7,665 2,971 28% 50bp 12,250 1,613 15% 10, % 10 10, % 25 10, % 25 10, % 25 10, % 10 10, % 0.9 9, % , % , % , % 11, % 10% 10, % Sony Life Insurance Co., Ltd. 2016

28 Sony Life Insurance Co., Ltd % % MCEV Milliman, Inc. MCEV28 3MCEV * 1 7,242 10,976 2,870 2,563 * 2 2,185 1, ,934 3,681 7,455 10,192 co.jp/ * 3 MCEV * 1 LifeHealth * 2 * 3 1 VaR99.5%EU

29 PART 2 Sony Life Insurance Co., Ltd

30 028 2 Sony Life Insurance Co., Ltd. 2016

31 10 Sony Life Insurance Co., Ltd

32 B.T.P. 36 B.T.P. B.T.P. 1B.T.P.1 2 B.T.P.6 B.T.P.12 B.T.P.24 B.T.P.36 O.J.T F C.I.P AFP 1 FP B.T.P. 1 1 B.T.P B.T.P B.T.P O.J.T. B.T.P FP CFP 6 2 FP 2 FP AFP Sony Life Insurance Co., Ltd

33 P.T.P. P.T.P. PA PA 18 PA PA PA F AFP P.T.P. PA SLBC Sony Life Business College FP 2 FP 1 FP AFP CFP Sony Life Insurance Co., Ltd FP PC 2 6

34 032 Sony Life Academy S.L.A FP , Sony Life Insurance Co., Ltd AFP Affiliated Financial Planner AFP FPFP FP CFP Certified Financial Planner CFP CFP BOARD CFP FP FP

35 Million Dollar Round Table MDRT , MDRT MDRT MDRTMDRT MDRT Japan Association of Insurance and Financial Advisors JAIFA JAIFA JAIFA MDRT 28 4 JAIFA28 4 JAIFA JAIFA JAIFAJAIFA 2 Sony Life Insurance Co., Ltd

36 034 CD-ROM Sony Life Insurance Co., Ltd CD-ROM

37 Sony Life Insurance Co., Ltd

38 036 & Sony Life Insurance Co., Ltd. 2016

39 Sony Life Letter Sony Life Letter E ES Solution Service Sony Life Insurance Co., Ltd

40 038 LiPSS 2 LiPSS LiPSS STEP 1 Sony Life Insurance Co., Ltd. 2016

41 STEP 2 LiPSS LiPSS STEP 3 LiPSS Sony Life Insurance Co., Ltd

42 C-SAAF LiPSS38 39 C-SAAFConsulting-Sales and Follow system Sony Life Insurance Co., Ltd. 2016

43 CSM SLIM SLIM Sony Life Letter 42 SLIM ES Solution Service 28 5 ES Solution Service Sony Life Insurance Co., Ltd

44 042 Sony Life Letter Sony Life Letter WEB WEB Sony Life Letter E Sony Life Insurance Co., Ltd. 2016

45 , ,485 8, , ,403 86, , ,361 Sony Life Insurance Co., Ltd , , , ,166

46 Sony Life Letter 31 Sony Life Letter Sony Life Insurance Co., Ltd. 2016

47 QR Sony Life Insurance Co., Ltd

48 , ,470 1, ,370 7, ,920 9, ,340 12,050 Sony Life Insurance Co., Ltd ,000 80

49 , , ,024, , ,393, , ,830,600 1,098, ,529,700 1,566, ,417,000 2,193, * 5, ,850 10, ,600 13, ,650 18, ,200 25, ,750 33, ,300 47, Sony Life Insurance Co., Ltd

50 % ,000 Sony Life Insurance Co., Ltd. 2016

51 111 1 URL PC URL URL Facebook Facebook CM PostPet So-net Sony Life Insurance Co., Ltd

52 050 URL 6 URL URL 4 URL URL 6 Sony Life Insurance Co., Ltd. 2016

53 CM 28 4 CM Sony Life Insurance Co., Ltd

54 052 VOC MCC VOC VOC VOC Voice Of Customer= Sony Life Insurance Co., Ltd. 2016

55 % , , , , , , , , , , , , , , , , , , , , , , , , :00 17: :00 21:00 9:00 17:30 % , , , , , , , , , , , , , , , , , , ADRADR Alternative Dispute Resolution = ADR ADR ADR ADR URL :00 17:00 Sony Life Insurance Co., Ltd

56 , , % 0.8% 1.9% 0.2% 6.1% 0.9% 1.2% 0.8% 3.2% 3.3% 24.7% 25.3% 40.4% 71.8% % 17.5% 17.7% % 38.1% 76.4% 25 Sony Life Insurance Co., Ltd. 2016

57 Hot Voice Sony Life Insurance Co., Ltd

58 URL WEB Sony Life Insurance Co., Ltd WEB WEB URL

59 PART 3 Sony Life Insurance Co., Ltd

60 SFH SFH SFH 1 SFH 1 Sony Life Insurance Co., Ltd

61 BCP Sony Life Insurance Co., Ltd

62 060 ERM Enterprise Risk Management ERM MCEV ROEV MCEV MCEV MCEV ERM Sony Life Insurance Co., Ltd. 2016

63 ERM ALM ALM ALM Sony Life Insurance Co., Ltd

64 062 Sony Life Insurance Co., Ltd. 2016

65 BCP 27 4,983 A 10 B Sony Life Insurance Co., Ltd

66 IT Sony Life Insurance Co., Ltd

67 IC ISO Sony Life Insurance Co., Ltd

68 BS7799- Part2ISMS BS7799-Part2 ISOISMSISO ISO/IEC JIS Q ISMS Information Security Management System ISMS IS / ISO ISO JIS Q Sony Life Insurance Co., Ltd ISMS Plan Do Check Act Act Plan Check Do

69 MCC Sony Life Insurance Co., Ltd

70 068 MCC MCC MCC MCC Sony Life Insurance Co., Ltd

71 SA Reinsurance Ltd Sony Life Insurance Co., Ltd

72 070 Sony Life Insurance Co., Ltd. 2016

73 PART 4 Sony Life Insurance Co., Ltd

74 ISO ISO CO2 CO2 CO2 CO2 CO2 Sony Life Insurance Co., Ltd ISO14001 International Organization for Standardization kwh 126.3CO t-CO2/kWh

75 22 3CD-ROM CD-ROM NPO 27 6 Shinzi Katoh 24 C-SAAF Sony Life Insurance Co., Ltd

76 074 One Love One Trust One Love One Trust Good Corporate Citizen Sony Life Insurance Co., Ltd

77 , , Sony Life Insurance Co., Ltd

78 076 MDRTJAIFA Sony Life Insurance Co., Ltd

79 , ,6222 1,654 Sony Life Insurance Co., Ltd

80 Facebook Sony Life Insurance Co., Ltd. 2016

81 18 LiPSS38 39 Sony Life Insurance Co., Ltd ,059

82 Sony Life Insurance Co., Ltd

83 Sony Life Insurance Co., Ltd Sony

84 Sony Life Insurance Co., Ltd

85 Sony Life Insurance Co., Ltd

86 :00AM 5:30PM SFI 6F SFI 7F F F F F F MT15F MT15F MT15F F F KDX9F F F F F WBG31F WBG31F WBG31F WBG31F F F F F F F F F F F F JR16F JR18F JR16F JR18F JR15F JR18F JR17F JR18F JR15F JR17F JR17F JR17F JR16F JR16F F F F F F F F F Sony Life Insurance Co., Ltd. 2016

87 F F F F F F F F F F F F F F F F FT 7F FT 7F FT 7F FT 7F ENT 14F ENT 14F ENT 15F ENT 16F ENT 15F ENT 14F ENT 17F ENT 16F ENT 17F ENT 17F ENT 17F F F F F F F F F F NTT 12F NTT 12F F F F F F F F F F F NBF 4F OASIS 21 9F Sony Life Insurance Co., Ltd

88 F F F F F :00AM 5:30PM SFI 6F MT11F F KDX 3F F KDX 6F NS7F NS7F NS7F NS7F NS7F NS7F NS7F NS7F NS7F TS 5F TS 5F A-ONE9F F F F F F F ENT 10F ENT 10F ENT 10F ENT 10F FT 4F F NTT 12F F F F F F F F ,974 1,912 1,864 Sony Life Insurance Co., Ltd. 2016

89 % * 1 * 2 * 2 * 2 * 1 * 2 ALM VOC IT IT LiPSS Sony Life Insurance Co., Ltd

90 ,816 1,924 2, ,101 4,737 4,857 5,193* 4,678 4,782 5, * 27 4, Sony Life Insurance Co., Ltd PwC PwC28 7 1PwC

91 Sony Life Insurance Co., Ltd

92 Sony Life Insurance Co., Ltd. 2016

93 ,000 18, , ,000 22, ,800 3, ,000 50, ,500 4, ,000 40, ,000 5, ,000 65, ,500 11, ,000 70, ,000 70, , , % , % 4 1 Sony Life Insurance Co., Ltd

94 , , Sony Life Insurance Philippines Corporation 10 4, , Sony Life Insurance Philippines Corporation ISO14001 Sony Life Insurance Co., Ltd Sony Life Acad e my 2 The Book The Book LIFEPLANNER VALUE Life Planning SQUARE AEGON SA Reinsurance Ltd % VOC Voice Of Customer Sony Life Insurance (Philippines) Corporation Paramount Life & General Insurance Corporation

95 Sony Life Insurance Co., Ltd Sony

96 Sony Life Insurance Co., Ltd % , , , ,823 16,534 18,392 34, , , , , , ,954, ,543, ,273, ,316,110 5,742,140 6,382,481 3,869 2,060 1,836 38,746 28, ,101 70,442 92,564 83, , , , , , , , , , , , , , , , ,103 83,007 83,007 36,429 34,757 32, , , , ,859 21,580 19, , , , ,954 33,791 33,407 1,532 1,220 1,216 16,600 17,059 17,205 4,182 4,061 5, , , , , , , , ,624, ,301, ,035,

97 % ,152, ,756, ,371, ,702 25,449 29,635 6,123,633 6,727,241 7,336,533 4,237 4,191 5,006 2, , , , , , ,804 8,702 16,742 8,998 1,213 1,412 2,765 13,566 15,399 18, ,783 1,594 5,058 5,076 5, ,832 2,842 2,157 25, , , , , , ,556 42,845 44, , ,255, ,868, ,553, , , , , , , ,865 5,865 5, , , , ,138 22,128 26, , , , , , , , , , , , , , , , , , , , , , ,624, ,301, ,035, Sony Life Insurance Co., Ltd

98 Sony Life Insurance Co., Ltd ,197,109 1,223,827 1,230, , ,034 1,028, , ,497 1,026,407 1,325 1,537 1, , , , , , , , , ,943 5,691 5,921 6,174 10,250 10,327 10, ,311 5,283 11, ,899 12, ,768 1,183 5, , ,789 23,799 29,644 31,575 2,151 3,617 2,352 17,197 22,154 26,828 4,451 3,872 2,394 1,127,904 1,144,162 1,169, , , ,370 77,413 79,622 84,283 10,768 11,280 11,496 55,510 63,166 74, , , ,936 3,203 3,675 5,711 1,959 2,027 2, , , , , , , , ,506 9,727 23, ,099 2, ,077 1,931 1,936 5,845 5,630 3,868 14, , , ,334 27,507 31,571 35,764 10,884 12,184 14,939 7,981 10,571 12,373 5,064 5,267 5,342 3,532 3,523 3, ,205 79,665 60,792

99 ,352 6,352 9,389 7,683 8, ,291 1,288 1,415 9,291 1,288 1,415 6,682 6, ,232 2,153 3,564 57,583 69,828 55,113 21,953 27,055 21,735 1, ,718 20,519 27,303 18,016 37,063 42,524 37,096 Sony Life Insurance Co., Ltd

100 Sony Life Insurance Co., Ltd ,583 69,828 55,113 2,077 1,931 1,936 5,064 5,267 5, , , , , , ,232 2,153 3, ,352 6,352 2,645 2,716 2, ,291 1,288 1, , , ,450 77, ,440 14, ,183 5,068 2, ,143 17,717 16, ,774 3,802 2,772 4,722 6,276 25, , , , , , , ,273 2,202 2,752 5,392 5,103 3,696 28,837 19,015 29, , , ,432 5,100 5,300 47, , ,343 1,127, , , ,322 54,102 54,199 56,782 25,405 24,618 28,761 62,804 1, , , ,264 55, ,297 44, , ,021 3,500 2,500 1,450 3,255 2,301 3, , , ,640 13,300 19,950 19, ,312 19,954 19, ,006 37,314 18, ,461 50,455 87,769 50,455 87, ,594

101 Sony Life Insurance Co., Ltd

102 , , ,381 2, ,991 Sony Life Insurance Co., Ltd

103 , , , ,273 2, ,232 4, , ,657 2, ,032 36,994 8, , , , ,094 3, ,237 2, ,153 4, , ,994 8,656 28,338 3, ,108 1,305 31,550 10, , , , , , , ,191 2, ,564 5, , ,550 3, ,509 1,751 37,081 12, ,678 Sony Life Insurance Co., Ltd

104 ,372 10,289 1,917 28,622 2, ,522 25,389 1,867 23,522 2, , , , ,000 Sony Life Insurance Co., Ltd ,003 12,201 3,198 22,546 1,918 17,429 19,725 2,295 17,429 3, , , ,381 2, , , ,201 12,678 2,477 26,880 4,836 19,566 21,944 2,377 19,566 3, , ,267

105 ,040 37, ,361 12,791 7,240 36, % 1.04% 0.85% 0.42% %30.78% , ALM ,223 48,178 2,166 24,439 12,360 5,028 47, % 4.56%2.84% % % 8 3,186 3, , ALM ,032 58,939 2,243 26,121 12,392 5,478 58, % 2.71%0.26% % % % 280 1,495 1, , ALM 2 Sony Life Insurance Co., Ltd

106 Sony Life Insurance Co., Ltd ALM 4 3 ALM VaR ALM VaR 4

107 ,827 15, ,628 34, , , , ,666 4,409,662 4,839, , , , , ,932 9,696 15,944 16, ,424,328 6,865, , ,000 22,916 1, : 1 16,535 16, ,234 71, , , , ,473 4,878,792 5,718, , , , , ,822 10,380 15,954 17,067 1, ,066,458 7,917, , ,500 20,570 1, : 1 18,394 18, ,200 88, , , , ,241 5,383,938 7,410,168 2,026, , ,566 41, , , , ,080 11,666 16,235 17,516 1,281 7,801,509 9,881,992 2,080, ,804 62,804 62,804 62, , ,305 1, Sony Life Insurance Co., Ltd

108 , , ,600 4,281, ,357 18,200 28,600 32, ,850 4,878 13, ,691 33,480 76,487 5,068, , ,23615, % , ,231 3,897 63, , , , , ,369 Sony Life Insurance Co., Ltd , , ,100 4,564, ,131 14,400 32, ,650 5,590 14,420 3, ,772 19, ,810 5,369, , ,44215, % , ,334 51, , , , , , , , , , , ,100 5,072, ,581 20,086 3, ,130 9,900 85, ,550 13,941 2,253 6, ,681 27, ,843 5,933, , ,41316, % , ,552 1, , , , , ,007 62,804 48, ,389

109 ,085 4, , ,284 4, ,063 37,063 70, ,827 34,628 50, ,463 2, ,601 1, , ,154 4, ,524 42,524 70, ,535 71,234 87, ,976 3, , , , ,173 5, ,096 37,096 70, ,394 88, , Sony Life Insurance Co., Ltd

110 ,000 5,865 5,865 15, , , ,563 80,283 1,513 78, ,333 2,660 15,960 13,300 13,300 13,300 37,063 37,063 37,063 37,063 3,133 3,133 3,133 2,660 21,103 23,763 23,763 3,133 3,133 26,897 70,000 5,865 5,865 18, , , ,327 83,416 1,513 81, ,230 Sony Life Insurance Co., Ltd ,000 5,865 5,865 18, , , ,327 83,416 1,513 81, ,230 5,991 5,991 5,991 5,991 70,000 5,865 5,865 18, , , ,318 83,416 1,513 81, ,221 3,990 23,940 19,950 19,950 19,950 42,524 42,524 42,524 42,524 34, ,729 34,729 3,990 18,584 22,574 22,574 34, ,729 57,304 70,000 5,865 5,865 22, , , , ,113 1, , , ,000 5,865 5,865 22, , , , ,113 1, , ,526 3,990 23,940 19,950 19,950 19,950 37,096 37,096 37,096 37,096 32, ,522 32,522 3,990 13,156 17,146 17,146 32, ,522 49,669 70,000 5,865 5,865 26, , , , ,621 1, , ,195

111 ,000 70,000 70,000 70, , , , , , , ,000 70,000 70,000 70,000 70,000 70,000 70,000 70, , , , Sony Life Insurance Co., Ltd

112 PwC PwC28 7 1PwC , , , , , ,255 % Sony Life Insurance Co., Ltd. 2016

113 ,157 1,078,363 1,169, , , ,740 41,556 42,845 44,260 63,671 68,707 75, %100% 118, , ,217 85%100% 75 15,325 20, ,868 81,201 83, , , ,777 20,626 16,433 31,308 2,000 3,000 1,707 R1+R8 2 + R2+R3+R7 2 +R4 80,904 84,411 85,930 R1 22,512 23,045 23,576 R8 8,368 8,422 8,519 R2 29,616 30,138 30,613 R7 12,896 14,373 15,902 R3 30,023 31,493 30,831 R4 2,068 2,149 2,188 A ,358.7% 2,555.0% 2,722.8% Sony Life Insurance Co., Ltd = ,562 81, ,283 66,249 73,013 80,354 4,303 8,394 20, = 57,098 62,768 69,041 62,556 68,688 75, ,002 4,296 4,710 a 4,000 4,293 4,707 b A1 2 13,464 18,830 32, ,303 8,394 20,675 B ,161 10,435 11,566

114 ,256 1,066,059 1,151, , , ,011 41,556 42,845 44,260 63,671 68,707 75, , , , ,325 20,778 2,768 1,918 4, ,868 81,201 83, , , ,777 27,008 17,870 33,036 9,369 10,510 11,389 R1 2 +R5 2 +R8+R9 2 + R2+R3+R7 2 +R4+R6 77,160 80,300 82,983 R1 22,512 23,045 23,576 R5 R6 R8 8,368 8,422 8,519 R9 R2 29,616 30,138 30,613 R7 12,896 14,373 15,902 R3 26,023 27,118 27,698 R4 1,988 2,061 2,126 A ,413.8% 2,655.1% 2,776.2% Sony Life Insurance Co., Ltd. 2016

115 ,666 50, ,473 89, ,241 75,945 a ,409,662 4,839, , , ,878,792 5,718, , , ,065,514 1,189, , , ,007,822 1,176, , , ,035,912 1,146, , , ,613 1,120, , ,512 12,236 21,205 8,968 8, ,421 29,496 16,075 16,075 15,891 19,403 3,511 3, ,451 26,412 6,961 7, ,891 19,403 3,511 3, ,451 26,412 6,961 7, ,474 2,533 1,059 1, ,475,177 6,029, , , ,886,614 6,894,956 1,008,341 1,008, ,385,143 5,913, , , ,775,323 6,736, , , ,236 21,205 8,968 8, ,421 29,496 16,075 16,075 76,323 92,695 16,371 16, , ,214 30,680 30, ,323 92,695 16,371 16, , ,214 30,680 30, ,474 2,533 1,059 1, Sony Life Insurance Co., Ltd

116 ,383,938 7,410,168 2,026,230 2,026, , ,566 41,305 41, ,973 1,091, , , ,339 1,040, , ,011 13,625 25,664 12,039 12, ,842 25,279 5,436 5, ,842 25,279 5,436 5, ,523,172 8,794,337 2,271,165 2,271, ,444,682 8,689,521 2,244,838 2,244, ,625 25,664 12,039 12, ,698 78,844 14,146 14, ,698 78,844 14,146 14, ,320 48,431 Sony Life Insurance Co., Ltd ,404,321 4,834, ,394 4,858,704 5,698, ,567 5,383,938 7,410,168 2,026,230 4,349,230 4,766, ,460 4,780,622 5,596, ,848 5,339,082 7,356,603 2,017,520 55,090 68,024 12,933 78, ,801 23,719 44,855 53,565 8,709 5,341 5, ,087 19, ,087 19, ,341 5,267 73

117 , ,826 41, , ,826 41,306 5,741 5, ,741 5, ,017,996 1,142, ,420 1,004,852 1,173, , ,355 1,087, , ,552 1,100, , ,613 1,120, , ,339 1,040, ,011 12,041 21,013 8,972 13,421 29,496 16,075 13,452 25,501 12,049 14,928 18,450 3,521 16,481 23,551 7,069 15,398 20,934 5,536 1,474 2,533 1, ,518 47, ,969 2, ,618 4, ,360 46, ,969 2, ,444 4, b. Sony Life Insurance Co., Ltd ,000 18,500 13,267 17,289 14,492 12, ,466 13,828 11,712 33,289 32,992 25,569

118 116 c. b a ,409,662 4,839, , , ,878,792 5,718, , , ,000 16,000 18,500 18,500 1,082,804 1,214, , , ,022,315 1,198, , , ,035,912 1,146, , , ,613 1,120, , ,512 12,236 21,205 8,968 8, ,421 29,496 16,075 16,075 16,714 21,129 4,414 4, ,115 28,488 8,373 8, ,891 19,403 3,511 3, ,451 26,412 6,961 7, , ,076 1,412 1,412 17,940 25,217 7,277 7, ,165 20,778 6,613 7, ,508,467 6,070, , , ,919,607 6,935,647 1,016,040 1,016, ,385,143 5,913, , , ,775,323 6,736, , , ,236 33,205 8,968 8, ,421 42,496 16,075 16,075 81,146 98,420 17,273 17, , ,790 32,092 32, ,323 92,695 16,371 16, , ,214 30,680 30, ,823 5, ,163 7,576 1,412 1,412 17,940 25,217 7,277 7, ,165 20,778 6,613 7, Sony Life Insurance Co., Ltd ,383,938 7,410,168 2,026,230 2,026, , ,566 41,305 41, ,267 13, ,274 1,109, , , ,339 1,040, , ,011 13,775 25,814 12,039 12, ,281 27,271 6,989 7, ,842 25,279 5,436 5, ,992 1,552 1,552 11,877 15,967 4,090 4, ,548,741 8,825,407 2,276,666 2,277, ,444,682 8,689,521 2,244,838 2,244, ,343 32,382 12,039 12, ,837 87,536 15,699 15, ,698 78,844 14,146 14, ,139 8,692 1,552 1,552 11,877 15,967 4,090 4,

119 , , , , , , , ,296 37,253 37, , ,225 45,208 45, , ,922 48,431 48, Sony Life Insurance Co., Ltd

120 ,000 1, Sony Life Insurance Co., Ltd ,000 1, % % ,000 1, ,000 1,000 % ,000 1, ,000 1,000

121 , , , , , , , , , Sony Life Insurance Co., Ltd

122 A 72,365 76,505 43,019 2,130 14,447 27,387 7, ,899 12, ,768 1,183 5,068 3, ,011 2, ,099 2, , B 1,180 8,435 24,435 AB 73,545 84,940 67,455 4,340 5,275 6,662 4,110 5,035 6, C 4,340 5,275 6,662 ABC 69,205 79,665 60,792 Sony Life Insurance Co., Ltd A4, , A5, , A5,

123 ,194,979 1,209,380 1,206, , ,034 1,028, , ,497 1,026,407 1,325 1,537 1, , , , , , , , ,789 23,799 29,644 31,575 2,151 3,617 2,352 17,197 22,154 26,828 4,451 3,872 2,394 5,311 5,311 4,911 1,122,613 1,132,874 1,162, , , ,370 77,413 79,622 84,283 10,768 11,280 11,496 55,510 63,166 74, , , ,936 3,203 3,675 5,711 1,959 2,027 2, , , ,076 7,777 7,377 20, ,077 1,931 1,936 5,652 5,413 3,715 14, , , ,334 27,507 31,571 35,764 10,884 12,184 14,939 7,981 10,571 12,373 5,064 5,267 5,342 3,532 3,523 3, ,365 76,505 43,019 Sony Life Insurance Co., Ltd % 2.35% 2.31% 2.20% 2.36% 2.42% 2.18% 2.12% 2.06%

124 % ,236, ,628, ,552, ,391, , , , , ,405, ,442, , , % 6,880, ,293, , , ,599, , Sony Life Insurance Co., Ltd % 517, ,814, ,814, , ,625, ,625,700 15, , ,088 27, , ,926 5, ,104 5, , % 579, ,871, ,871,062 50, , ,332 1, ,

125 2. % , , , , , , , , , , , , % , , , , , , , , , , , , Sony Life Insurance Co., Ltd

126 Sony Life Insurance Co., Ltd ,743,523 35,556,338 4,958,598 37,129,771 5,226,764 38,899, ,296 3,188, ,767 3,602, ,273 4,275,541 18, ,529 46, ,044 59, ,438 15, ,607 14, ,183 14, , ,430 2,711, ,058 2,710, ,179 2,699,573 1,245 11,522 1,217 11,128 1,196 10, ,387 3,179, ,782 3,085, ,555 2,972,267 4,317 7,738 4,092 7,255 3,908 6,895 11,937 66, ,682 1,763, ,627 1,831, ,977 1,810,966 41, ,163 95, ,449 1,352 44,305 1,288 43,018 1,225 39, ,528 5,764, ,845 6,340, ,949 6,968,621 3,293 49,569 2,898 40,801 2,624 34,711 86,423 1,783,849 83,600 1,709,811 81,164 1,641,168 68,650 1,297,123 69,811 1,321,041 69,376 1,303,547 58, ,460 70, ,024 79, ,716 12, ,077 18, ,669 18, ,221 17, ,217 26, ,534 24, ,884 22, ,058 51,431 1,477,624 48,267 1,316,593 45,395 1,177, , , ,032 35,922 1,619,192 43,121 1,985,996 50,569 2,386,042 3, ,349 3, ,573 2,760 95,717 42, ,873 46, ,868 48, ,666 17,294 13,261 19,819 15,888 22,112 17, , , , , , ,702 12,528 2,441 15,910 3,210 18,333 3, ,595 29, ,300 28, ,483 27, ,918 5,713 67,395 6,084 74,610 6,592 31,867 30,821 29,907 1,586, ,752 1,594, ,479 1,602, ,904 11,946 5,025 11,308 4,787 10,741 4, , , ,914 8,345, ,854 8,250, ,419 8,191, ,275 1,315, ,795 1,422, ,167 1,504,136 47, ,093 61, ,187 84, ,213 1,842 8,058 2,918 13,703 3,470 15,530 2,242 9,485 3,411 18,183 3,903 21, , , ,362 1,006, , , , ,764 66, ,342 64, ,527 6,361 26,699 8,630 33,961 1,114,202 1,756,085 1,186,292 1,838,892 1,224,539 1,890,387 13,317 15,680 73,793 79,087 95,683 97, ,100,885 1,740,405 1,112,499 1,759,805 1,128,856 1,792,815 6,236,000 38,628,089 6,552,685 40,391,018 6,880,470 42,293, , ,101 64, ,646 75, ,053 30, ,834 46, ,875 80, ,185 8,191 58,979 9,089 64,160 9,802 67,823 94, , , , , ,062 95, ,526 93, , , , ,103 75, ,811 69, ,340 67,159 1,729,468 1,096,603 1,599,340 1,194,312 1,507,312 1,359, ,958,703 1,405,237 1,819,421 1,442,198 1,743,119 1,599,364 25,437 3,872 21,525 2,505 21, ,268 51,324 59,871 14,704 58,978 12, ,705 55,196 81,396 17,210 80,155 13,

127 ,707 3,424, ,256 4,321, ,261 4,598,378 48, ,026 91, , , ,693 18, ,923 29, ,734 14, , ,610 70,372 12,795 69,174 9,380 55,884 21, ,846 6,714 38,968 3,599 21, ,999 66,953 71, ,274 44, ,252 15,167 57,127 41, ,826 56, , ,547 28, ,575 41,925 1,254,219 40,870 1,245,454 4,107 89,827 5, ,237 5, ,735 7, ,682 6, ,229 4, ,988 13, ,636 19, ,091 16, ,800 12, , ,356 1,147 61,399 1,025 52,017 7, ,702 9, ,524 10, , , , ,929 7, ,705 7, ,832 5, ,827 3,786 3,067 4,285 4,191 3,804 3, ,916 48,199 8,532 33,144 5,874 23,053 4, , , , , , , , , ,071 2,454 2,288 89,883 19,756 83,378 16,708 77,087 14, , ,550 37, ,699 36, ,189 91, ,877 54, ,725 48, ,049 8,095 23,461 16,235 50,354 25,951 92,754 1,870 7,954 1,134 4, ,292 2,272 9,417 1,242 6, ,922 76, ,597 27,792 99,207 17,104 69, ,945 9,446 1,916 6,970 2,002 7,882 6,467 27,034 2,549 8,008 56,546 85,174 89, ,565 60,079 84,634 13,326 15,693 60,953 64,004 22,430 19, ,220 69,481 28,836 45,560 37,649 65, ,946 3,814, ,831 4,625, ,282 4,871, ,486 45,780 10,252 46,040 14,060 65,167 5,233 29,308 17,571 99,885 36, ,165 15,719 75,088 27, ,926 50, , ,162 4,248 14,997 5, ,043 14,404 1,061 15,825 5,104 2,926 5,291 14,404 1, Sony Life Insurance Co., Ltd

128 ,872,003 38,552,125 40,403, , , ,749 1,405,218 1,442,187 1,599,357 38,277,222 39,994,313 42,002,738 6,815,689 6,590,527 6,376, ,816,420 6,590,873 6,376,447 1,345,860 1,279,418 1,222,535 1,345,860 1,279,418 1,222,535 1,756,085 1,838,892 1,890, , , , ,164,552 2,373,056 2,679,424 55,275 70, , ,282 70, ,327 58,448 63,518 67, ,196 17,210 13, ,664 80,740 80,126 18,095 18,120 18, ,108 18,130 18,164 18,095 18,120 18,156 18,095 18,120 18,156 7,419 7,251 7,142 7,419 7,251 7,142 Sony Life Insurance Co., Ltd

129 , , ,135 49,321 48,142 9, , , ,069 1,677,071 1,680,530 1,685,198 1,677,071 1,680,530 1,685, ,980,007 8,419,299 8,646,575 14,722,876 15,554,558 16,507,322 35,556,338 37,129,771 38,899,244 1,169,086 1,193,284 1,183,082 1,315,664 1,422,354 1,504,136 1,756,085 1,838,892 1,890, , , ,062 3,484,766 3,347,551 3,214,336 3,330,923 3,242,975 3,161, ,295 1,252 1,216 1,281 1,259 1, ,514 6,628 6, Sony Life Insurance Co., Ltd

130 % ,958,963 37,366,333 6,236,000 38,628,089 6,552,685 40,391, ,946 3,814, ,831 4,625, ,282 4,871,062 15,013 55,283 13,859 49,869 13,053 47,587 19, ,830 17, ,965 18, , , , ,897 13, ,967 12, ,220 10, ,579 9,719 60,056 10,379 62,727 11,389 68,065 30, ,426 30, ,452 36, ,903 37, ,793 42, ,478 44, , ,104 1,495, ,052 1,857, ,144 1,684,170 37, ,789 34, ,454 34, ,980 18, ,729 16, ,495 14,931 1,016,928 6,236,000 38,628,089 6,552,685 40,391,018 6,880,470 42,293, ,037 1,261, ,685 1,762, ,785 1,902, Sony Life Insurance Co., Ltd % , ,709 94, , , ,682 15,719 75,088 27, ,926 50, , ,325 1,311 4,019 1,718 5,933 1,732 4, , , ,810 3,416 18,231 2,752 14,060 3,113 15, , , , , ,864 1,142 5,557 94, , , , , , ,152 54,205 25, ,767 46, ,

131 % ,128,076 1,345,632 1,958,703 1,405,237 1,819,421 1,442,198 15,825 5,104 2,926 5,291 14,404 1, , , , , , ,581 77, ,637 70, ,697 87, ,944 1, , , , ,246 1,661 9,525 1,825 8,769 1, , , , , , , ,734 56, ,095 55, ,510 61, ,465 65, ,031 67, ,904 74, , , ,958,703 1,405,237 1,819,421 1,442,198 1,743,119 1,599, ,373 59, ,282 36,961 76, , % ,934 56, ,705 55,196 81,396 17, ,140 2, ,801 2, ,456 1,765 8,398 2,201 4,579 1,073 1, ,023 35, ,705 55,196 81,396 17,210 80,155 13, ,229 1, ,309 37,986 1,241 4, Sony Life Insurance Co., Ltd

132 % 1.55% 1.55% 1.20% 1.20% 1.20% % 1.40% 1.40% 1.05% 1.05% 1.05% % 1 7, % 2 15, % 3 22, % % % % % % % Sony Life Insurance Co., Ltd % ,364 7,991 8,408 6,194 6,164 6, % %

133 ,311 12,200 12, % % % Sony Life Insurance Co., Ltd

134 % 11. % AA AA AA A A A BBB S&P Sony Life Insurance Co., Ltd %

135 ,702 6,702 8, ,405 1,729 2,494 1, ,504 1,556 1,672 2,027 11,532 11,296 15, ,323 5,698 6,210 7,437 7,975 7, ,702 25,449 29, ,840,272 6,438,959 7,001,664 5,257,428 5,728,223 6,264, , , , , , , , , ,001 48,632 70, , ,196 17,210 13,093 55,196 17,210 13,093 6,059,962 6,658,533 7,261,366 5,428,484 5,877,276 6,422, , , ,617 63,671 68,707 75,166 6,123,633 6,727,241 7,336,533 5,492,156 5,945,984 6,497, , , , Sony Life Insurance Co., Ltd ,859,446 6,454,413 7,036, , , ,118 63,671 68,707 75,166 6,123,633 6,727,241 7,336,533

136 % 100.1% , , , ,183, ,404, ,642, , , , , , Sony Life Insurance Co., Ltd ,270 45,902 80, % 3.0%

137 , , , , , , ,232 1, , ,237 1, , , , , , , , ,153 1, , ,191 1, , , , , , , , ,564 1, , ,006 1, ,676 Sony Life Insurance Co., Ltd

138 ,352 6, ,770 25,389 2, ,008 19,725 2, ,264 41,556 9, ,556 42,845 1, ,352 6, ,725 21,944 2, ,845 44,260 1, , Sony Life Insurance Co., Ltd ,000 70,000 70,000 70,000 70,000 70,000 70,000 70,000 70,000 70,000 70,000 70,000 70,000 70,000 70,000 70,000 5,865 5,865 5,865 5,865 5,865 5,865 5,865 5, ,000 70,000 70,000 70,000 70,000 70,000 70,000 70,000 5,865 5,865 5,865 5,865

139 , , , ,027 57,458 93, , , ,622 9,986 10,343 10, , , ,350 16,469 32,642 53,732 3,504 16,495 31,586 3,990 5,409 7, ,757 10,498 13,992 4,523 4,855 5,250 2,658 1, , ,497 1,026, ,108 45,828 44,205 1,325 45, ,666 2,296 3, ,584 21,930 22,513 24,749 24,749 7,034 8,275 9, ,907 77,413 79,622 82,724 1,558 84, Sony Life Insurance Co., Ltd ,768 11,280 9, ,765 11, ,210 2,509 2, ,658 8,992 9,128 9, ,364 8,604 8,957 9,428 9, ,070 30,835 41,093 41,093 12,462 11,607 10,415 1, ,204 55,510 63,166 72,935 1, , , , ,992 4, ,936

140 % 4, ,446 2, , ,582 2, , ,490 2, , ,574 1, , , , ,095 4,799 14,235 23, ,825 4,997 18,244 21, ,915 5,064 16,688 26, ,705 5,267 20,836 23, % 4, ,795 2, , ,751 1, , , ,380 5,064 22,218 19, ,249 5,342 25,026 21, ,713 56,354 64,852 14,887 15,904 18,095 42,267 43,344 50, , , , ,205 7,232 8,011 3,763 5,840 6,905 1,306 1, ,776 3,338 4, ,576 1,863 1,712 1,642 2, ,981 10,571 12,373 Sony Life Insurance Co., Ltd. 2016

141 GDP % % % %* % % , , =120 1= = = * 2 2 ALM Asset Liability Management ,850 6, % 6 3, % % % 2, % 1, % 1, % Sony Life Insurance Co., Ltd

142 140 Sony Life Insurance Co., Ltd % , , , , , , ,334, ,783, ,479, ,190, ,606, ,351, , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,984, ,508, ,185, , , , ,704 24,201 4, ,929 32, , , , , , ,291 2,099 9,290 9,131 19,323 24,875 38,487 17,812 25,721 35,422 1, , , ,114 8,180 9,249 9,161 8,216 9, ,769 51,231 1, ,643 1,864 3,451 10, , , ,078 16,438 23,963 9,658

143 ,814 63,624 75, , , ,391 4,900,002 5,433,180 5,992,602 4,784,298 5,300,313 5,879,645 26,297 25,043 24,468 86, ,299 87, , , , ,367 93, ,719 5,512,218 6,093,806 6,675,387 87, ,324 87, % Sony Life Insurance Co., Ltd , , ,450 5,311 5,283 11, ,899 12, ,768 1,183 5, , , ,517

144 ,099 2, ,077 1,931 1,936 5,845 5,630 3,868 8,506 9,727 8, , , ,943 98, , , ,740 8,998 7,246 5,691 5,921 6,174 10,250 10,327 10, , , , ,601 11, , ,899 12, Sony Life Insurance Co., Ltd. 2016

145 % ,158, ,585, ,233, , , , , , , , , , , , , , , , , , , , , , , ,334, ,783, ,479, ,374 21,985 29,574 16,389 70,532 5,175,193 5,334,049 10,586 12,297 15,285 65,346 5,055,455 5,158,972 1,003 1,003 6,718 2, ,639 19,566 30,089 33,205 33,205 2,007 7,629 13,045 16,389 3,248 64, ,752 5,099 12,371 1,931 60,432 79,835 2,007 7,629 7,945 4,017 1,316 4,000 26, , ,533 4,026 20,374 21,985 29,574 16,389 70,532 5,175,193 5,334,049

146 ,028 24,052 11,155 22, ,584 5,488,369 5,783,292 14,960 5, ,796 5,336,480 5,585,685 1,635 19,564 21,200 42,496 42,496 4,028 9,091 9,982 16,207 3,152 89, ,627 2,022 4,044 13,413 2,410 83, ,556 4,028 7,069 5,937 2, ,500 26,070 1, ,283 4,028 24,052 11,155 22, ,584 5,488,369 5,783, Sony Life Insurance Co., Ltd ,336 23,322 16,746 21, ,431 6,071,355 6,479,336 13,243 16, ,234 5,883,743 6,233,852 20, ,631 94, ,324 33,364 33,364 4,054 8,824 16,746 3, ,100 93,140 1,822 13,615 2,296 52,400 70,134 4,054 7,002 3,131 1, ,700 23, ,654 24,336 23,322 16,746 21, ,431 6,071,355 6,479, %

147 15. % , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , Sony Life Insurance Co., Ltd

148 , , , , , ,413 15,944 15,954 16, , , , Sony Life Insurance Co., Ltd

149 19. % % Sony Life Insurance Co., Ltd

150 % % 31, ,103 39, ,118 2,129 36,429 21, , , ,285 2,284 67,100 23, , ,223 2,021 63,334 21, % 26 30,103 52,903 83,007 36, ,005 34,757 23, , ,100 53, , ,232 25, ,334 53, , ,552 22, Sony Life Insurance Co., Ltd. 2016

151 24. % 27 83,007 83,007 34, ,025 32,777 25, , , , ,256 27, , , ,769 24, , , ,816 3,442 3,397 3,193 63, , , % 26 Sony Life Insurance Co., Ltd ,686 2,021 21,050 34, ,853 1,887 22,902 32, ,873 1,952 20,481 34, ,038 1,827 22,274 32, ,221 2,077 21,485 34, ,347 1,931 23,339 33,

152 % 55,955 1,900 24,788 31, ,121 1,841 24,100 31, ,323 1,936 25,136 31, Sony Life Insurance Co., Ltd % , , , , , , , , , , , , , , , , , , , , , % 37, , , , , , , , , , , , , , , , , , , , , , , , , ,

153 27 % 72, , , , , , , , , , , , % , , , , , , , , , , , , % Sony Life Insurance Co., Ltd ,579 28,829 20,912 67,886 75,579 28,829 88,798 75,579 28,829 88,

154 , , a. Sony Life Insurance Co., Ltd ,409,662 4,839, , , ,878,792 5,718, , , ,065,514 1,189, , , ,007,822 1,176, , , ,035,912 1,146, , , ,613 1,120, , ,512 12,236 21,205 8,968 8, ,421 29,496 16,075 16,075 15,891 19,403 3,511 3, ,451 26,412 6,961 7, ,891 19,403 3,511 3, ,451 26,412 6,961 7, ,474 2,533 1,059 1, ,475,177 6,029, , , ,886,614 6,894,956 1,008,341 1,008, ,385,143 5,913, , , ,775,323 6,736, , , ,236 21,205 8,968 8, ,421 29,496 16,075 16,075 76,323 92,695 16,371 16, , ,214 30,680 30, ,323 92,695 16,371 16, , ,214 30,680 30, ,474 2,533 1,059 1,

155 b. 27 5,383,938 7,410,168 2,026,230 2,026, , ,566 41,305 41, ,973 1,091, , , ,339 1,040, , ,011 13,625 25,664 12,039 12, ,842 25,279 5,436 5, ,842 25,279 5,436 5, ,523,172 8,794,337 2,271,165 2,271, ,444,682 8,689,521 2,244,838 2,244, ,625 25,664 12,039 12, ,698 78,844 14,146 14, ,698 78,844 14,146 14, ,320 48,431 Sony Life Insurance Co., Ltd ,000 18,500 13,267 17,289 14,492 12, ,466 13,828 11,712 33,289 32,992 25,569

156 154 c. b a ,409,662 4,839, , , ,878,792 5,718, , , ,000 16,000 18,500 18,500 1,082,804 1,214, , , ,022,315 1,198, , , ,035,912 1,146, , , ,613 1,120, , ,512 12,236 21,205 8,968 8, ,421 29,496 16,075 16,075 16,714 21,129 4,414 4, ,115 28,488 8,373 8, ,891 19,403 3,511 3, ,451 26,412 6,961 7, , ,076 1,412 1,412 17,940 25,217 7,277 7, ,165 20,778 6,613 7, ,508,467 6,070, , , ,919,607 6,935,647 1,016,040 1,016, ,385,143 5,913, , , ,775,323 6,736, , , ,236 33,205 8,968 8, ,421 42,496 16,075 16,075 81,146 98,420 17,273 17, , ,790 32,092 32, ,323 92,695 16,371 16, , ,214 30,680 30, ,823 5, ,163 7,576 1,412 1,412 17,940 25,217 7,277 7, ,165 20,778 6,613 7, Sony Life Insurance Co., Ltd ,383,938 7,410,168 2,026,230 2,026, , ,566 41,305 41, ,267 13, ,274 1,109, , , ,339 1,040, , ,011 13,775 25,814 12,039 12, ,281 27,271 6,989 7, ,842 25,279 5,436 5, ,992 1,552 1,552 11,877 15,967 4,090 4, ,548,741 8,825,407 2,276,666 2,277, ,444,682 8,689,521 2,244,838 2,244, ,343 32,382 12,039 12, ,837 87,536 15,699 15, ,698 78,844 14,146 14, ,139 8,692 1,552 1,552 11,877 15,967 4,090 4,

157 , , , , , , , ,296 37,253 37, , ,225 45,208 45, , ,922 48,431 48, Sony Life Insurance Co., Ltd

158 ,000 1, ,000 1, % Sony Life Insurance Co., Ltd % ,000 1, ,000 1,000 % ,000 1, ,000 1,000

159 , , , , , , , , , Sony Life Insurance Co., Ltd

160 IT 20, , , , , , ,323 Sony Life Insurance Co., Ltd % , , % 12.75% TOPIX VA3 6.18% 10.82% 225 ETF VA3

161 MSCI VL 10.65% 9.63% VL MSCI MSCI 8 2 ECB +1.55% 9.63% MSCI % +4.60% 2% % ECB 0.49% 1.11% Sony Life Insurance Co., Ltd

162 ETF 0.66% +0.04% ,296 7,302, ,767 7,826, ,273 8,690,797 47, ,508 61, ,443 84, ,349 1,352 45,807 1,288 44,356 1,225 40, ,592 7,512, ,547 8,093, ,303 9,054,686 Sony Life Insurance Co., Ltd , ,758 46, ,266 81, ,096

163 4. 2. % , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,773 13,175 15,220 16,052 17,275 36, , , ,414 5,036 8,458 12, , , , , , ,789 14,735 Sony Life Insurance Co., Ltd ,666 50, ,411 89, ,025 76,099

164 SA Reinsurance Ltd SA Reinsurance Ltd Sony Life Insurance Co., Ltd % 4, %

165 Sony Life Insurance Co., Ltd

166 Sony Life Insurance Co., Ltd

167 :00 17: :00 21:00 9:00 17: TEL URL FSC

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