09 04 12 Td Financial Results Q1 2 2
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Supplementary Materials for the Three Months Ended June 30, 2012
1. Business Highlights
(1) Total Policy Amount in Force ············································································································ P2
(2) New Policy Amount ···························································································································· P2
(3) Annualized Premiums ························································································································· P3
(4) Surrender and Lapse Amount ············································································································· P3
(5) Surrender and Lapse Rate ··················································································································· P3
2. Status of General Account Assets
(1) Asset Composition ······························································································································ P4
(2) Fair Value Information on Securities (Except Trading Securities) ···················································· P5
(3) Fair Value Information on Monetary Trusts ······················································································· P6
(4) Fair Value Information on Real Estate ······························································································· P7
(5) Fair Value Information on Derivative Transactions ··········································································· P7
3. Status of Separate Account Assets
(1) Balance of Separate Account Assets ·································································································· P9
(2) Total Number of Policies and Total Policy Amount in Force ···························································· P9
4. Reconciliation to Core Profit and Ordinary Profit
(1) Reconciliation to Core Profit ············································································································ P10
(2) Reconciliation to Ordinary Profit ····································································································· P11
[Reference] Negative Spread ···················································································································· P12
5. Solvency Margin Ratio ······················································································································· P12
6. Adjusted Net Assets ···························································································································· P13
7. Total of General Account Assets and Separate Account Assets
Fair Value Information on Financial Instruments ···················································································· P13
[Exhibit]
The State of Investment in Securitized Products, Sub-prime Related Products and Others ········ P13
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1. Business Highlights
(1) Total Policy Amount in Force (Number: Thousands, 100 Millions of yen, %)
Category
As of March 31, 2012 As of June 30, 2012
Number Amount Number AmountChange from
Previous FYE (%)
Change from
Previous FYE (%)
Individual insurance 163 9,885 163 100.1 9,890 100.0Individual annuities 174 10,000 172 99.1 9,578 95.8
Subtotal 337 19,886 336 99.6 19,468 97.9
Group insurance - 0 - - 0 94.1
Group annuities - 115 - - 57 50.2
Notes:1. Policy amounts for individual annuities are sum of the annuitization value (or amount of policy reserve less amounts relating to minimum guarantee for
individual variable annuities) as of the start date of annuity payment for policies which annuity payments have not yet commenced and the amount of policy
reserve for policies which annuity payments have commenced.
2. The policy amount in force for group annuities is equal to the amount of outstanding policy reserve.
(2) New Policy Amount(Number: Thousands, 100 Millions of yen, %)
Category
Three Months Ended June 30, 2011
Number AmountChange (%) Change (%) New policies
Increase from
conversion
Individual insurance 0 231.3 53 280.3 53 -
Individual annuities - 0.0 - 0.0 - -
Subtotal 0 155.7 53 173.5 53 -
Group insurance - - - - - -
Group annuities - - - - - -
(Number: Thousands, 100 Millions of yen, %)
Category
Three Months Ended June 30, 2012
Number AmountChange (%) Change (%) New policies Increase fromconversion
Individual insurance 4 636.6 341 636.4 341 -
Individual annuities - - - - - -
Subtotal 4 636.6 341 636.4 341 -
Group insurance - - - - - -
Group annuities - - - - - -
Notes:
1. There is no conversion plan from FY2001.
2. The new policy amount for individual annuity is equal to the annuitization value at the start date of annuity payment or the basic policy amount (single
premium) for individual variable annuities.
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(3) Annualized Premiums1) Policies in force (Millions of yen, %)
Category
As of March 31, 2012 As of June 30, 2012
Amount AmountChange from
Previous FYE (%)
Individual insurance 20,128 22,106 109.8
Individual annuities 151,445 150,050 99.1
Total 171,574 172,156 100.3
Third Sector 4,122 3,993 96.9
2) New policies (Millions of yen, %)
CategoryThree Months Ended June 30, 2011 Three Months Ended June 30, 2012
Amount Change (%) Amount Change (%)
Individual insurance 300 255.0 2,547 848.8
Individual annuities - 0.0 - -
Total 300 99.4 2,547 848.8
Third Sector - - - - Notes:
1. The amounts are calculated by multiplying monthly premiums by 12, and dividing lump-sum payments by the insurance period.2. The Japanese insurance market is legally divided into three major fields: the First Sector, which involves conventional life insurance; the Second Sector,
which involves P&C insurance; and the Third Sector, which involves insurance positioned between the two, including medical insurance, cancer insurance,
accident insurance, and nursing care insurance.
(4) Surrender and Lapse Amount(Number: Thousands, 100 Millions of yen, %)
Category
Three Months Ended June 30, 2011 Three Months Ended June 30, 2012
Number Amount Number AmountChange (%) Change (%) Change (%) Change (%)
Individual insurance 1 76.8 140 65.9 2 111.3 164 117.2
Individual annuities 0 113.6 65 106.7 0 89.0 49 75.0
Total 2 85.6 206 75.0 3 104.2 214 103.8
(5) Surrender and Lapse Rate (Surrender and lapse amount / Policy amount in force at the beginning of the fiscal year)
(%)
Category Three Months Ended June 30, 2011 Three Months Ended June 30, 2012
Individual insurance 1.33 1.67
Individual annuities 0.63 0.49
Total 0.98 1.08
Note: The figures are not annualized.
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2. Status of General Account Assets
(1) Asset Composition (Millions of yen, %)
CategoryAs of March 31, 2012 As of June 30, 2012
Amount Percentage Amount Percentage
Cash and deposits, call loans 68,172 13.3 61,099 11.3Securities repurchased under resale agreements - - - -
Pledged money for bond borrowing transaction - - - -Monetary claims purchased - - - -Securities under proprietary accounts - - - -Monetary trusts 43,722 8.5 50,616 9.3Securities 369,552 72.0 397,612 73.4
Domestic bonds 369,380 72.0 397,441 73.3Domestic stocks 171 0.0 171 0.0Foreign securities - - - -
Bonds - - - -Stocks, etc. - - - -
Other securities - - - -Loans 5,522 1.1 5,364 1.0
Policy loans 5,515 1.1 5,359 1.0
Commercial loans 6 0.0 5 0.0Property and equipment 0 0.0 0 0.0Deferred tax asset 15,845 3.1 15,486 2.9Other assets 10,123 2.0 11,677 2.2Reserve for possible loan losses (1) (0.0) (1) (0.0)
Total assets 512,938 100.0 541,856 100.0 Foreign currency denominated assets 4,823 0.9 3,715 0.7
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(2) Fair Value Information on Securities (Except Trading Securities)a. Securities with market value
(Millions of yen)
Category
As of March 31, 2012
Cost/carryingvalue before
mark-to-market
Current fair
value
Net unrealized gains (losses)
Gains Losses
Held-to-maturity securities 278,846 289,970 11,123 11,166 43
Domestic bonds 278,846 289,970 11,123 11,166 43Foreign bonds - - - - -Monetary claims purchased - - - - -
Policy reserve matching bonds 34,011 34,138 127 133 5Stocks of subsidiaries and affiliated companies - - - - -Available-for-sale securities 56,658 56,522 (136) 7 143
Domestic bonds 56,658 56,522 (136) 7 143Domestic stocks - - - - -Foreign securities - - - - -
Bonds - - - - -Stocks, etc. - - - - -
Other securities - - - - -Monetary claims purchased - - - - -Certificates of deposit
- - - - -Others - - - - -Total 369,516 380,631 11,114 11,307 193
Domestic bonds 369,516 380,631 11,114 11,307 193Domestic stocks - - - - -Foreign securities - - - - -
Bonds - - - - -Stocks, etc. - - - - -
Other securities - - - - -Monetary claims purchased - - - - -Certificates of deposit - - - - -Others - - - - -
b. Securities without market value (Carrying value)(Millions of yen)
Category As of March 31, 2012
Held-to-maturity securities -
Unlisted foreign bonds -
Others -
Policy reserve matching bonds -
Stocks of subsidiaries and affiliated companies -
Available-for-sale securities 171
Unlisted domestic stocks (excluding over-the-counter stocks) 171
Unlisted foreign stocks (excluding over-the-counter stocks) -
Unlisted foreign bonds -
Others -
Total 171
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a. Securities with market value
(Millions of yen)
Category
As of June 30, 2012
Cost/carryingvalue before
mark-to-market
Current fair
value
Net unrealized gains (losses)
Gains Losses
Held-to-maturity securities 273,077 286,245 13,168 13,214 45
Domestic bonds 273,077 286,245 13,168 13,214 45Foreign bonds - - - - -Monetary claims purchased - - - - -
Policy reserve matching bonds 65,735 66,156 420 497 77Stocks of subsidiaries and affiliated companies - - - - -Available-for-sale securities 58,684 58,628 (56) 57 114
Domestic bonds 58,684 58,628 (56) 57 114Domestic stocks - - - - -Foreign securities - - - - -
Bonds - - - - -Stocks, etc. - - - - -
Other securities - - - - -Monetary claims purchased - - - - -Certificates of deposit
- - - - -Others - - - - -Total 397,497 411,030 13,532 13,769 236
Domestic bonds 397,497 411,030 13,532 13,769 236Domestic stocks - - - - -Foreign securities - - - - -
Bonds - - - - -Stocks, etc. - - - - -
Other securities - - - - -Monetary claims purchased - - - - -Certificates of deposit - - - - -Others - - - - -
b. Securities without market value (Carrying value)(Millions of yen)
Category As of June 30, 2012
Held-to-maturity securities -
Unlisted foreign bonds -
Others -
Policy reserve matching bonds -
Stocks of subsidiaries and affiliated companies -
Available-for-sale securities 171
Unlisted domestic stocks (excluding over-the-counter stocks) 171
Unlisted foreign stocks (excluding over-the-counter stocks) -
Unlisted foreign bonds -
Others -
Total 171
(3) Fair Value Information on Monetary Trusts (Millions of yen)
Category
As of March 31, 2012
Carrying valueCurrent fair
value
Net unrealized gains (losses)
Gains Losses
Monetary trusts 43,722 43,722 - - -
(Millions of yen)
Category
As of June 30, 2012
Carrying value Current fair value
Net unrealized gains (losses)Gains Losses
Monetary trusts 50,616 50,616 - - -
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a. Monetary trusts for investment (Millions of yen)
CategoryAs of March 31, 2012 As of June 30, 2012
Carrying value Net valuation
gains(losses)Carrying value
Net valuation
gains(losses)
Monetary trusts for investment 43,722 (5,929) 50,616 7,998
b. Monetary trusts for held-to-maturity, policy reserve matching and others
The Company held no monetary trusts for held-to-maturity, policy reserve matching and others as of March 31, 2012 and June30, 2012.
(4) Fair Value Information on Real EstateThe Company held no real estate as of March 31, 2012 and June 30, 2012.
(5) Fair Value Information on Derivative Transactionsa. Gains (losses) on derivatives with and without hedge accounting
(Millions of yen)
CategoryAs of March 31, 2012
Interest-related Currency-related Stock-related Bond-related Others Total
Hedge accounting applied - - - - - -
Hedge accounting not applied 2,005 1,978 245 - - 4,229Total 2,005 1,978 245 - - 4,229
(Millions of yen)
CategoryAs of June 30, 2012
Interest-related Currency-related Stock-related Bond-related Others Total
Hedge accounting applied - - - - - -
Hedge accounting not applied 3,760 836 7,742 - - 12,339
Total 3,760 836 7,742 - - 12,339
Notes:
1. Gains (losses) on derivatives which are not applied to hedge accounting are recorded in the statements of operations.2. The Company uses management trusts for interest-related and currency-related (currency swap) derivative transactions.
3. The Company uses monetary trusts for currency-related (currency option) and stock-related derivative transactions.
b. Interest-related transactions(Millions of yen)
Category
As of March 31, 2012 As of June 30, 2012
Contracted value or
notional principal
amount Fair value
Valuation
gains(losses)
Contracted value or
notional principal
amount Fair value
Valuation
gains(losses)
Over 1 Year Over 1 Year
Over-the-counter transactions
Interest rate swaps:
Receive fixed, pay floating 18,429 17,566 2,005 2,005 14,043 13,393 3,760 3,760
Australian dollar/Australian dollar 18,429 17,566 2,005 2,005 14,043 13,393 3,760 3,760
Total 2,005 3,760 Note: Valuation gains (losses) indicate its fair value.
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c. Currency-related transactions(Millions of yen)
Category
As of March 31, 2012 As of June 30, 2012
Contracted value or
notional principal amount Fair valueValuation
gains(losses)
Contracted value or
notional principal amount Fair valueValuation
gains(losses)Over 1 Year Over 1 Year
Over-the-counter transactions
Currency options:
Sold:
Call - - - -[-] [-] [-] [-] [-] [-] [-] [-]
Put - - - -[-] [-] [-] [-] [-] [-] [-] [-]
Bought:
Call - - - -[-] [-] [-] [-] [-] [-] [-] [-]
Put 18,729 14,355 17,043 12,646[3,204] [2,619] [4,107] [902] [2,995] [2,374] [4,400] [1,404]
U.S. dollar 11,056 8,372 10,149 7,445
[2,076] [1,681] [2,593] [517] [1,955] [1,538] [2,637] [682]Euro 7,673 5,983 6,894 5,200
[1,128] [937] [1,514] [385] [1,040] [836] [1,762] [722]
Currency swaps: 17,588 - 1,075 1,075 14,799 - (568) (568)
Australian dollar 17,588 - 1,075 1,075 14,799 - (568) (568)
Total 1,978 836 Note: Parenthesized figures are option premiums.
d. Stock-related transactions(Millions of yen)
Category
As of March 31, 2012 As of June 30, 2012
Contracted value or
notional principal amount Fair value
Valuation
gains(losses)
Contracted value or
notional principal amount Fair value
Valuation
gains(losses)
Over 1 Year Over 1 Year
Over-the-counter transactions
Stock index options:
Sold:
Call - - - -[-] [-] [-] [-] [-] [-] [-] [-]
Put - - - -[-] [-] [-] [-] [-] [-] [-] [-]
Bought:
Call 198 174 188 164[65] [58] [42] [(22)] [63] [56] [21] [(42)]
Nikkei225 198 174 188 164[65] [58] [42] [(22)] [63] [56] [21] [(42)]
Put 178,495 169,207 176,890 167,442[37,258] [35,921] [37,526] [268] [37,013] [35,621] [44,798] [7,784]
Nikkei225 104,925 96,749 103,456 95,147[18,029] [16,939] [24,459] [6,429] [17,818] [16,687] [29,689] [11,871]
S&P500 8,955 8,745 8,914 8,713[1,705] [1,669] [2,826] [1,120] [1,699] [1,664] [3,165] [1,466]
DJES 50 4,776 4,671 4,758 4,652[1,137] [1,113] [2,769] [1,632] [1,133] [1,109] [3,037] [1,904]
MSCI KOKUSAI 59,838 59,041 59,760 58,929[16,385] [16,198] [7,470] [(8,914)] [16,362] [16,161] [8,904] [(7,457)]
Total 245 7,742
Note: Parenthesized figures are option premiums.
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e. Bond-related transactionsThe Company held no bond-related derivative instruments as of March 31, 2012 and June 30, 2012.
f. OthersThe Company held no other derivative instruments as of March 31, 2012 and June 30, 2012.
3. Status of Separate Account Assets
(1) Balance of Separate Account Assets(Millions of yen)
Category As of March 31, 2012 As of June 30, 2012
Individual variable insurance 1,751 1,621Individual variable annuities 884,497 843,630
Total 886,248 845,251
(2) Total Number of Policies and Total Policy Amount in Force1) Individual variable insurance
(Number, Millions of yen)
CategoryAs of March 31, 2012 As of June 30, 2012
Number Amount Number Amount
Individual variable insurance (term life) 4 8 4 8Individual variable insurance (whole life) 2,783 10,706 2,765 10,631
Total 2,787 10,714 2,769 10,639
2) Individual variable annuities(Number, Millions of yen)
CategoryAs of March 31, 2012 As of June 30, 2012
Number Amount Number Amount
Individual variable annuities 146,416 900,310 145,191 859,559
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4. Reconciliation to Core Profit and Ordinary Profit
(1) Reconciliation to Core Profit(Millions of yen)
CategoryThree Months Ended
June 30, 2011
Three Months Ended
June 30, 2012
Core revenues 32,924 47,409
Income from insurance premiums 9,130 37,247
Insurance premiums 9,009 37,247Ceded reinsurance recoveries 120 -
Investment income 1,025 1,219
Interest, dividends and income from real estate for rent 1,025 1,219
Gains on redemption of securities - -
Reversal of general reserve for possible loan losses 0 0
Other investment income 0 0
Gains on separate accounts, net - -
Other ordinary income 22,525 8,712
Income related to withheld insurance claims and other payments for future annuity payments
3,354 2,937
Income due to withheld insurance payments 12 2
Reversal of reserve for outstanding claims 11 796
Reversal of policy reserves (except contingency reserve) 18,910 4,704
Reversal of reserve for employees' retirement benefits 186 162
Other ordinary income 48 109
Other core revenues 242 229
Core expenses 32,983 59,093
Insurance claims and other payments 28,332 27,599
Insurance claims 2,744 2,614
Annuity payments 1,561 2,095
Insurance benefits 5,584 5,181
Surrender payments 12,852 9,838
Other payments 4,389 6,808
Reinsurance premiums 1,200 1,060
Provision for policy and other reserves 0 0Investment expenses 2,299 28,102
Interest expenses 0 0
Losses on redemption of securities - -
Provision for general reserve for possible loan losses - -
Depreciation of real estate for rent - -
Other investment expenses 14 14
Losses on separate accounts, net 2,285 28,087
Operating expenses 2,196 3,080
Other ordinary expenses 152 310
Payments related to withheld insurance claims 46 63
Taxes 98 239
Depreciation 0 0Provision for reserve for employees' retirement benefits - -
Other ordinary losses 6 5
Other core expenses - -
Core profit (59) (11,683)
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(2) Reconciliation to Ordinary Profit(Millions of yen)
CategoryThree Months Ended
June 30, 2011Three Months Ended
June 30, 2012
Core profit (A) (Note 1) (59) (Note 2) (11,683)
Capital gains 188 9,633
Gains from monetary trusts, net - (Note 3) 8,263Gains on investment in trading securities, net
- -Gains on sales of securities 1 -Gains from derivatives, net 128 1,370Foreign exchange gains, net 58 -Others - -
Capital losses 780 634
Losses from monetary trusts, net (Note 3) 529 -Losses on investments in trading securities, net - -Losses on sales of securities 7 -Devaluation losses on securities - -Losses from derivatives, net - -Foreign exchange losses, net - 404Others 242 229
Capital gains (losses) (B) (Note 1) (592) (Note 2) 8,999Core profit reflecting capital gains (losses) (A)+(B) (651) (2,684)
Other one-time gains 98 576
Ceding reinsurance recoveries - -Reversal of contingency reserve - -
Reversal of specific reserve for possible loan losses - -Others (Note 4) 98 (Note 5) 576
Other one-time losses 1,585 1,861
Reinsurance premiums - -Provision for contingency reserve 1,585 1,317Provision for specific reserve for possible loan losses 0 0Provision for specific reserves for loans to refinancing countries - -Write off of loans - -
Others - (Note 6) 543Other one-time gains (losses) (C) (1,487) (1,284)
Ordinary profit (losses) (A)+(B)+(C) (2,138) (3,968) Notes:1. Core profit for the three months ended June 30, 2011 includes 242 million yen of income gains from derivatives, as other core revenues, instead of capital gains.2. Core profit for the three months ended June 30, 2012 includes 229 million yen of income gains from derivatives, as other core revenues, instead of capital gains.3. The figures of gains and losses from monetary trusts are equal to gains and losses on derivative transactions for the purpose of hedging minimum guarantee risks relating to individual variable annuities.4. ‘Others’ in Other one-time gains for the three months ended June 30, 2011 include a 87 million yen of reversal of policy reserve relating to minimum guarantee risks for individual variable annuities contracted prior to March 31, 2004, which were not mandatory in the FSA regulation.5. ‘Others’ in Other one-time gains for the three months ended June 30, 2012 include a 576 million yen of distribution from Financial StabilizationContribution Fund.6. ‘Others’ in Other one-time losses for the three months ended June 30, 2012 include a 552 million yen of provision for policy reserve relating to minimum guarantee risks for individual variable annuities contracted prior to March 31, 2004, which were not mandatory in the FSA regulation.
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[Reference] Negative Spread(Millions of yen, %)
CategoryThree Months Ended
June 30, 2011
Three Months Ended
June 30, 2012
Amount of negative spread 731 647
Investment yield on core profit 1.24% 1.30%[Excluding foreign exchange rate linked type product] [1.04%] [1.13%]
Average assumed investment yield 1.97% 1.89%
[Excluding foreign exchange rate linked type product] [1.80%] [1.78%]Individual insurance and annuities 2.03% 1.91%[Excluding foreign exchange rate linked type product] [1.86%] [1.80%]
Policy reserve in general accounts 402,674 439,758 Notes:1. Negative spread is calculated by the following method:
(Investment yield on core profit - Average assumed investment yield) x Policy reserve in general accounts x 1/42.“Investment yield on core profit” is calculated by dividing numerator as investment revenues and expenses (investment profit in general account) included in core profit less amount of provision for accumulated interest due to policyholders by denominator as policy reserve in general reserve in general account.3. Average assumed investment yield is calculated by dividing numerator as assumed interest (general accounts only) by denominator as policy reserve in general account. The amount of assumed interest includes assumed interest from insurance using accumulated interest rate.4. Investment yield on core profit and average assumed investment yield are annualized.5. Policy reserve in general accounts represents the earned policy reserve calculated for policy reserve in general accounts less contingency reserve by
Hardy method as follows: Hardy method: (Policy reserve at beginning of fiscal year + Policy reserve at the end of fiscal year - Assumed interest) x 1/2
5. Solvency Margin Ratio(Millions of yen)
Items As of March 31, 2012 As of June 30, 2012
Total solvency margin (A) 88,287 84,817
Common stocks, etc. (less certain items) 27,946 25,031
Reserve for price fluctuations 427 434
Contingency reserve 39,753 41,071
General reserve for possible loan losses 1 0
Net unrealized gains on available-for-sale securities (before tax)
(x 90 per cent., if gains; x 100 per cent., if losses)(136) (56)
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 20,295 18,335
Unallotted portion of reserve for policyholder dividends - -
Deferred tax assets - -
Subordinated debt - -
The amount of non-margin portions in excess amount of policy
reserve based on Zillmer method and subordinated debts- -
Deductible items - -
Total risk (B) 31,886 33,012
Insurance risk R1 898 893
Third Sector insurance risk R8 251 243
Assumed investment yield risk R2 2,076 2,010Minimum guarantee risk R7 26,139 26,973
Investment risk R3 2,686 3,014
Business risk R4 961 994
Solvency margin ratio 553.7% 513.8%
Notes:
1. The ratio as of March 31,2012 is 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 ratio as of June 30, 2012 is calculated using a reasonable method based on the
regulatory rules described above.
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" was calculated using the standard method regulated by FSA.
4
2
732
2
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B
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6. Adjusted Net Assets(Millions of yen)
Items As of March 31, 2012 As of June 30, 2012
Adjusted net assets 96,040 95,940 Note: The figure as of March 31,2012 is calculated according to the orders providing classifications, etc. that are stipulated in 132.2 of Insurance Business
Law, and descriptions provided in Notification No. 2 issued in January 1999 by Financial Supervisory Agency and Ministry of Finance. The figure as of June30, 2012 is calculated using a reasonable method based on the regulatory rules described above.
7. Total of General Account Assets and Separate Account Assets
Fair Value Information on Financial Instruments(Millions of yen)
Category
As of June 30, 2012
Carrying amount Fair value Difference
Cash and deposit 70,621 70,621 -Call loans 1 1 -Monetary trust 50,616 50,616 -Securities 1,232,682 1,246,271 13,589
Trading securities 835,241 835,241 -
Held-to-maturity securities 273,077 286,245 13,168Policy reserve matching bonds 65,735 66,156 420Available-for-sale securities 58,628 58,628 -
Loans 5,364 6,128 764Policy loans 5,359 - -
Reserve for possible loan losses (Note:1) (0) - -Total 5,358 6,123 764Commercial loans 5 - -
Reserve for possible loan losses (Note:1) (0) - -Total 5 5 -
Total Assets 1,359,284 1,373,638 14,353Derivatives (Note:2)
Hedge accounting not applied 3,192 3,192 -
Total derivatives 3,192 3,192 - Notes:
1. Reserve for possible loan losses for loans is deducted.
2. Assets and liabilities arising from derivatives transactions are shown at net value. (In the case of net liabilities, amounts are shown in parentheses.)
Exhibit
The State of Investment in Securitized Products, Sub-prime Related Products and Others
(As of June 30, 2012)
The company held no investment in securitized products, sub-prime related products and others as of June 30, 2012.