(Unofficial Translation)

Consolidated Summary Report under Japanese GAAP for the Three Months Ended June 30, 2023

August 10, 2023

Company Name:

Dai-ichi Life Holdings, Inc.

Stock exchange listings: Tokyo

Code Number:

8750

URL: https://www.dai-ichi-life-hd.com/

Representative:

Tetsuya Kikuta, President, Representative Director

For inquiry:

Yoichi Sawada, General Manager, Investor Relations Group, Corporate Planning Unit

TEL: (03)3216-1222

Dividend payment date:

-

Quarterly securities report issue date: August 10, 2023

Supplementary information for quarterly financial statements: Available

Explanatory meeting to be held: Yes (for institutional investors and analysts)

(Amounts of less than one million yen are truncated.)

1. Consolidated Financial Data for the Three Months Ended June 30, 2023

(1) Consolidated results of operations

(% represents the change from the same period in the previous fiscal year)

Net Income attributable to

Ordinary Revenues

Ordinary Profit

shareholders of parent

company

Three Months Ended

million yen

%

million yen

%

million yen

%

June 30, 2023

3,003,428

3.9

115,438

(27.4)

67,323

(24.7)

June 30, 2022

2,891,279

48.6

158,959

(22.9)

89,355

(35.4)

Note. Comprehensive income (loss) for the three months ended June 30, 2023 and 2022 were 534,961 million yen and (856,700) million yen, respectively.

Net Income

Diluted Net Income

per Share

per Share

Three Months Ended

yen

yen

June 30, 2023

68.47

68.45

June 30, 2022

87.21

87.18

(2) Consolidated financial condition

Total Assets

Total Net Assets

Ratio of Net Assets Attributable

to the Company's Shareholders

to Total Assets

As of

million yen

million yen

%

June 30, 2023

63,722,900

3,118,532

4.9

March 31, 2023

61,627,094

2,668,011

4.3

(Reference) Net assets attributable to the Company's shareholders as of June 30, 2023 and March 31, 2023 were 3,118,101 million yen and 2,667,525 million yen, respectively.

2. Dividends on Common Stock

Dividends per share

1st quarter-end

2nd quarter-end

3rd quarter-end

Fiscal year-end

Annual

Fiscal Year Ended

yen

yen

yen

yen

yen

March 31, 2023

-

0.00

-

86.00

86.00

March 31, 2024

-

March 31, 2024

0.00

-

86.00

86.00

(Forecast)

Note. Revision of dividend forecasts on the presentation date of this consolidated summary report: No

3. Consolidated Earnings Forecasts for the Fiscal Year ending March 31, 2024

(% represents the change from the previous fiscal year)

Net Income attributable to

Net Income

Ordinary Revenues

Ordinary Profit

shareholders of parent

per Share

company

Fiscal Year Ending

million yen

%

million yen

%

million yen

%

yen

March 31, 2024

8,353,000

(12.3)

465,000

13.2

273,000

42.0

277.65

Note. Revision of earnings forecasts on the presentation date of this consolidated summary report: No

"Net income per share" is presented in the Consolidated Earnings Forecasts for the Fiscal Year ending March 31, 2024, factoring in the status of total shares outstanding and the Company's own shares as of June 30, 2023.

  • Notes
  1. Changes in significant subsidiaries during the period : No
  2. Adoption of unique accounting methods applied only to quarterly consolidated financial statements : Yes For details, please refer to (3) Notes to the Quarterly Consolidated Financial Statements in the Appendix.
  3. Changes in accounting policies, accounting estimates and correction of past errors:
  1. Changes in accounting policies due to revision of accounting standards: Yes
  2. Changes in accounting policies due to reasons other than item (A) above: No
  3. Changes in accounting estimates: No
  4. Correction of past errors: No

For details, please refer to (3) Notes to the Quarterly Consolidated Financial Statements in the Appendix.

(4) Number of shares outstanding (common stock)

As of June 30, 2023

As of March 31, 2023

(A) Total shares outstanding including treasury stock:

989,888,900

989,888,900

(B) Shares of treasury stock held:

6,627,646

6,699,946

Three months ended

Three months ended

June 30, 2023

June 30, 2022

(C) Average outstanding shares:

983,258,087

1,024,587,253

Note. The number of treasury stocks includes the shares of the Company (3,829,200 shares as of June 30, 2023 and 3,862,100 shares as of March 31, 2023)

held by the Stock Granting Trust (J-ESOP trust).

*This report is exempt from the quarterly review of CPAs or Audit firms.

*Notes for using earnings forecast in this report and others:

This report contains forward-looking statements, such as earnings forecasts, regarding the intent, beliefs and current expectations of the Company and its management with respect to the expected financial condition and results of operations of the Company. These statements necessarily depend upon information currently available to the Company and its management and on assumptions that the Company and its management believe are appropriate. Forward-looking statements are not guarantees of future performance and actual results may differ materially from any future results expressed or implied by forward-looking statements. Forward-looking statements are subject to various risks and uncertainties, such as fluctuations in market conditions, including changes in the value of equity securities and changes in interest rates and forward exchange rates, the occurrence of illegal acts, operational and system risks, risks associated with general economic conditions in Japan and other factors. Important factors which may affect the Company's financial condition, results of operations and business performance are not limited to the factors described above. In light of the risks and uncertainties relating to forward-looking statements, investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this report.

Dai-ichi Life Holdings, Inc.

Table of Contents of Appendix

1. Unaudited Quarterly Consolidated Financial Statements and Notes …………………………………………… 2

(1) Quarterly Consolidated Balance Sheet ………………………………………………………………………… 2

(2) Quarterly Consolidated Statement of Earnings and Comprehensive Income ………………………………… 4

Quarterly Consolidated Statement of Earnings…………………………………………………………………

4

Quarterly Consolidated Statement of Comprehensive Income…………………………………………………

6

(3) Notes to the Quarterly Consolidated Financial Statements …………………………………………………… 7

(Notes on Going-Concern Assumptions) ……………………………………………………………………… 7

(Notes for Material Changes in Shareholders' Equity) ………………………………………………………… 7

(Adoption of Unique Accounting Methods Applied Only to Quarterly Consolidated Financial Statements) … 7 (Changes in Accounting Policies) ……………………………………………………………………………… 7

The Company plans to hold a conference call for institutional investors and analysts regarding its financial results for the three months ended June 30, 2023 on August 10, 2023. The material for the conference call will be posted on TDnet and the Company's website.

1

Dai-ichi Life Holdings, Inc.

1. Unaudited Quarterly Consolidated Financial Statements and Notes

(1) Quarterly Consolidated Balance Sheet

(Unit: million yen)

As of

As of

March 31, 2023

June 30, 2023

ASSETS

Cash and deposits

1,619,087

1,697,652

Call loans

966,900

789,700

Monetary claims bought

246,105

252,342

Money held in trust

911,246

859,850

Securities

46,711,704

48,830,511

Loans

4,348,495

4,450,041

Tangible fixed assets

1,239,953

1,238,790

Intangible fixed assets

736,712

720,926

Reinsurance receivable

1,623,872

1,699,116

Other assets

2,858,354

2,987,392

Deferred tax assets

334,466

184,419

Customers' liabilities for acceptances and guarantees

48,987

36,542

Reserve for possible loan losses

(17,863)

(23,367)

Reserve for possible investment losses

(927)

(1,020)

Total assets

61,627,094

63,722,900

LIABILITIES

Policy reserves and others

54,240,415

55,187,248

Reserves for outstanding claims

1,328,482

1,369,937

Policy reserves

52,488,528

53,412,491

Reserve for policyholder dividends

423,403

404,819

Reinsurance payable

584,172

588,693

Short-term bonds payable

43,062

51,310

Bonds payable

906,612

908,400

Other liabilities

2,363,014

3,053,591

Payables under repurchase agreements

432,210

777,744

Other liabilities

1,930,803

2,275,846

Net defined benefit liabilities

367,808

367,265

Reserve for retirement benefits of directors, executive officers and

794

768

corporate auditors

Reserve for possible reimbursement of prescribed claims

800

663

Reserves under the special laws

305,588

310,089

Reserve for price fluctuations

305,588

310,089

Deferred tax liabilities

27,629

29,708

Deferred tax liabilities for land revaluation

70,197

70,085

Acceptances and guarantees

48,987

36,542

Total liabilities

58,959,083

60,604,367

2

Dai-ichi Life Holdings, Inc.

(Unit: million yen)

As of

As of

March 31, 2023

June 30, 2023

NET ASSETS

Capital stock

344,074

344,074

Capital surplus

330,407

330,407

Retained earnings

1,099,495

1,082,490

Treasury stock

(13,918)

(13,747)

Total shareholders' equity

1,760,059

1,743,224

Net unrealized gains (losses) on securities, net of tax

740,292

1,202,127

Deferred hedge gains (losses)

(38,114)

(55,402)

Reserve for land revaluation

30,369

30,145

Foreign currency translation adjustments

149,733

174,880

Accumulated remeasurements of defined benefit plans

22,778

21,306

Net unrealized gains (losses) on total policy reserves and other, net of

2,407

1,819

tax

Total accumulated other comprehensive income

907,466

1,374,877

Subscription rights to shares

483

425

Non-controlling interests

1

5

Total net assets

2,668,011

3,118,532

Total liabilities and net assets

61,627,094

63,722,900

3

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Dai-ichi Life Holdings Inc. published this content on 10 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 August 2023 06:00:02 UTC.