T&D : Non-Consolidated Financial Statements for the Six Months Ended September 30, 2018

As of March 31, 2017

As of September 30, 2017

Assets:

Cash and deposits Cash Deposit

Call loans Monetary trusts Securities

Government bonds Municipal bonds Corporate bonds Domestic stocks Foreign securities Other securities

Loans

Policy loans Commercial loans

Tangible fixed assets Buildings

Lease assets

Other tangible fixed assets Intangible fixed assets

Software

Other intangible fixed assets Due from agencies

Due from reinsurers Other assets

Accounts receivable Prepaid expenses Accrued income Deposit for rent Derivatives

Cash collateral paid for financial

instruments Suspense payable Other assets

Deferred tax assets

Reserve for possible loan losses

134,422

138,448

0

0

134,422

138,447

1,302

582

583,476

648,924

564,753

545,269

447,088

423,464

100

100

5,748

5,043

152

129

29,251

29,233

82,411

87,297

3,692

3,542

3,690

3,540

2

2

0

6

0

5

0

0

0

0

0

470

-

470

0

0

3

8

2,967

2,967

15,076

16,111

2,199

4,477

198

456

1,317

1,304

223

218

10,339

9,627

639

-

154

25

3

1

8,054

8,044

(1)

(1)

Total assets

1,313,747

1,364,374

As of March 31, 2017

As of September 30, 2017

Liabilities:

Policy reserves

Reserve for outstanding claims Policy reserve

Reserve for policyholder dividends Due to agencies

Due to reinsurers Other liabilities

Income taxes payable Accounts payable Accrued expenses Unearned income Deposit received Derivatives

Cash collateral received for financial

instruments Suspense receipt Other liabilities

Provision for employees' retirement benefits

Reserve for price fluctuations

1,224,914

1,272,728

10,297

10,037

1,213,963

1,262,067

652

623

334

597

1,112

1,009

10,083

12,239

8

4

509

1,505

869

1,070

0

0

31

29

1,323

-

7,210

9,232

129

396

0

0

5,193

5,050

1,207

1,403

Total liabilities

1,242,846

1,293,027

Net assets: Capital stock Capital surplus

Capital reserve Retained earnings

Other retained earnings Unappropriated retained earnings

Total shareholders' equity Valuation difference on available-for-sale securities

Total valuation and translation

adjustments

56,000

56,000

46,000

46,000

46,000

46,000

(31,972)

(31,180)

(31,972)

(31,180)

(31,972)

(31,180)

70,027

70,819

874

527

874

527

Total net assets

70,901

71,347

Total liabilities and net assets

1,313,747

1,364,374

Six months ended September 30,

2016

Six months ended September 30,

2017

Ordinary revenues

90,391

122,232

Income from insurance premiums

Insurance premiums Ceded reinsurance recoveries

Investment income

Interest, dividends and income from real estate for rent Interest income from deposits

Interest income and dividends from securities Interest income from loans

Other income from interest and dividends Gains from monetary trusts, net

Gains on sales of securities Other investment income Gains on separate accounts, net

Other ordinary income

Income related to withheld insurance claims and other payments for future annuity payments

Income due to withheld insurance payments Reversal of reserve for outstanding claims Reversal of policy reserve

Reversal of reserve for employees' retirement benefits Other ordinary income

41,138

98,250

39,184

97,974

1,953

275

7,168

20,389

3,770

3,713

17

31

3,686

3,617

63

58

3

5

1,407

12,072

1,990

1,367

0

0

-

3,236

42,084

3,592

2,890

3,090

-

6

1,063

259

37,946

-

179

143

4

92

Ordinary expenses

83,762

120,944

Insurance claims and other payments

68,372

65,042

Insurance claims

16,491

18,171

Annuity payments

29,812

21,252

Insurance benefits

1,697

1,436

Surrender payments

18,085

21,305

Other payments

2,121

2,646

Reinsurance premiums

163

229

Provision for policy and other reserves

0

48,103

Provision for policy reserve

-

48,103

Interest portion of reserve for policyholder dividends

0

0

Investment expenses

9,408

543

Interest expenses

0

0

Losses on sales of securities

0

9

Losses from derivatives, net

4,309

446

Foreign exchange losses, net

3,279

37

Provision for reserve for possible loan losses

0

0

Other investment expenses

45

49

Losses on separate accounts, net

1,772

-

Operating expenses

5,261

6,395

Other ordinary expenses

720

860

Payments related to withheld insurance claims

28

21

Taxes

454

735

Depreciation

109

13

Other ordinary losses

126

90

Ordinary profit

6,628

1,287

Six months ended September 30,

2016

Six months ended September 30,

2017

Extraordinary gains

-

-

Extraordinary losses

118

195

Losses on disposal of fixed assets

0

-

Provision for reserve for price fluctuations

118

195

Reversal of reserve for policyholder dividends

0

0

Income before income taxes

6,509

1,092

Current income taxes

1,137

156

Deferred income taxes

389

144

Total income taxes

1,527

300

Net income

4,981

792