Dai ichi Life : Presentation(184KB

May 15, 2024

Supplementary Materials for the Fiscal Year Ended March 31, 2024

1.	Securities (General Account)
	(1) Breakdown of Securities---------	P. 2
	(2) Securities by Contractual Maturity Date---------	P. 2
	(3) Domestic Stocks by Industry---------	P. 3
2.	Loans (General Account)
	(1) Loans by Contractual Maturity Date---------	P. 4
	(2) Loans to Domestic Companies by Company Size---------	P. 4
	(3) Loans by Collateral Type---------	P. 4
	(4) Loans by Industry---------	P. 5
3.	Foreign Investments (General Account)
	(1) Breakdown of Investment by Asset Category---------	P. 6
	(2) Foreign Currency-Denominated Assets by Currency---------	P. 6
	(3) Investments by Region---------	P. 7
4.	Fair Value Information on Derivative Transactions (General Account)
	(1) Gains and losses on derivatives---------	P. 8
	(2) Fair value information (Hedge-Accounting-Not-Applied)---------	P. 8
	(3) Fair value information (Hedge-Accounting-Applied)---------	P. 11

Please note that this is an unofficial translation of the original disclosure in Japanese.

1. Securities (General Account)

(1) Breakdown of Securities

(millions of yen)

		As of March 31, 2023	As of March 31, 2024	年度	fiscal year ended
		Carrying amount	%	Carrying amount	%	１Ｑ	three months ended
National government bonds	15,254,703	56.5	15,936,171	55.7	２Ｑ	six months ended
Local government bonds	117,628	0.4	121,805	0.4	３Ｑ	nine months ended
Corporate bonds	1,702,676	6.3	1,874,903	6.5
	Public entity bonds	414,373	1.5	402,652	1.4
Domestic stocks	3,207,944	11.9	4,036,229	14.1
Foreign securities	5,930,212	22.0	5,400,341	18.9
	Foreign bonds	4,454,788	16.5	3,742,801	13.1
	Foreign stocks and other securities	1,475,424	5.5	1,657,540	5.8
Other securities	798,919	3.0	1,261,978	4.4
Total	27,012,086	100.0	28,631,430	100.0

(2) Securities by Contractual Maturity Date

							(millions of yen)
	Due in	Due after	Due after	Due after	Due after	Due after
	1 year through	3 years through	5 years through	7 years through	10 years or having	Total
	1 year or less
	3 years	5 years	7 years	10 years	no maturity date

As of March 31, 2023
	Securities	351,058	1,244,295	1,670,421	1,431,769	2,052,744	20,261,795	27,012,086
		National government bonds	106,774	366,768	408,535	678,159	1,150,088	12,544,377	15,254,703
		Local government bonds	2,758	11,717	6,599	2,906	291	93,355	117,628
		Corporate bonds	99,947	229,614	222,170	101,153	134,383	915,407	1,702,676
		Domestic stocks	-	-	-	-	-	3,207,944	3,207,944
		Foreign securities	125,758	597,545	750,643	533,905	633,099	3,289,260	5,930,212
			Foreign bonds	115,718	576,713	691,704	388,440	486,701	2,195,509	4,454,788
			Foreign stocks and other securities	10,040	20,832	58,938	145,464	146,397	1,093,750	1,475,424
		Other securities	15,820	38,648	282,472	115,645	134,882	211,450	798,919
	Monetary claims bought	2,997	21,958	23,175	9,166	5,591	161,665	224,555
	Certificates of deposit	70,997	-	-	-	-	-	70,997
	Others	-	-	-	-	-	6,727	6,727
As of March 31, 2024
	Securities	430,560	1,234,083	1,872,503	1,823,358	2,031,639	21,239,284	28,631,430
		National government bonds	104,089	372,120	277,510	894,008	1,051,930	13,236,511	15,936,171
		Local government bonds	509	21,795	2,904	2	3,889	92,704	121,805
		Corporate bonds	74,065	203,840	272,447	174,096	182,032	968,419	1,874,903
		Domestic stocks	-	-	-	-	-	4,036,229	4,036,229
		Foreign securities	251,377	571,713	705,095	555,421	673,729	2,643,003	5,400,341
			Foreign bonds	239,581	520,081	590,175	406,756	498,901	1,487,304	3,742,801
			Foreign stocks and other securities	11,795	51,632	114,920	148,665	174,827	1,155,698	1,657,540
		Other securities	519	64,612	614,544	199,829	120,057	262,416	1,261,978
	Monetary claims bought	3,422	14,980	29,448	18,371	3,332	136,654	206,210
	Certificates of deposit	90,994	-	-	-	-	-	90,994
	Others	-	-	-	-	-	8,872	8,872

Note: The table above includes assets which are treated as securities in accordance with the "Accounting Standard for Financial Instruments" (Accounting Standards Board of Japan (ASBJ) Statement No.10).

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The Dai-ichi Life Insurance Company, Limited

(3) Domestic Stocks by Industry

						(millions of yen)
		As of March 31, 2023		As of March 31, 2024
		Carrying amount		%	Carrying amount	%
Forestry and fisheries	249		0.0	290	0.0
Mining	200		0.0	200	0.0
Construction	105,329		3.3	151,577	3.8
Manufacturing industries
	Food products	219,146		6.8	261,579	6.5
	Textiles and clothing	20,793		0.6	18,942	0.5
	Pulp and paper	2,658		0.1	3,200	0.1
	Chemicals	171,356		5.3	199,429	4.9
	Medical supplies	100,977		3.1	105,893	2.6
	Oil and coal products	3,555		0.1	6,024	0.1
	Rubber products	19,424		0.6	22,566	0.6
	Glass and stone products	107,765		3.4	163,975	4.1
	Steel	34,402		1.1	36,369	0.9
	Non-steel metals	12,077		0.4	18,375	0.5
	Metal products	32,076		1.0	41,416	1.0
	Machinery	219,057		6.8	263,066	6.5
	Electric appliances	700,083		21.8	919,168	22.8
	Transportation vehicles	165,788		5.2	282,731	7.0
	Precision instruments	148,682		4.6	200,275	5.0
	Others	85,966		2.7	88,314	2.2
Electric and gas utilities	37,210		1.2	48,628	1.2
Transportation and communications industries
	Ground transportation	178,867		5.6	160,167	4.0
	Water transportation	28		0.0	32	0.0
	Air transportation	3,327		0.1	3,726	0.1
	Warehouses	4,520		0.1	4,955	0.1
	Telecommunications	102,384		3.2	115,170	2.9
Commerce
	Wholesale	153,258		4.8	220,031	5.5
	Retail	114,908		3.6	122,747	3.0
Financial industries
	Banks	163,620		5.1	239,483	5.9
	Security and trading companies	618		0.0	597	0.0
	Insurance	6,143		0.2	7,200	0.2
	Other	31,486		1.0	46,354	1.1
Real estate	16,633		0.5	23,572	0.6
Service	245,345		7.6	260,161	6.4
Total	3,207,944		100.0	4,036,229	100.0

Note: Industry categories above are based on classification by Securities Identification Code Committee.

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The Dai-ichi Life Insurance Company, Limited

2. Loans (General Account)

(1) Loans by Contractual Maturity Dates

(millions of yen)

			Due after	Due after	Due after	Due after	Due after
		Due in	1 year	3 years	5 years	7 years	10 years or	T otal
		1 year or less	through	through	through	through	having no
			3 years	5 years	7 years	10 years	maturity date
As of March 31, 2023
	Floating-rate loans	10,643	78,216	49,560	72,781	43,437	354,114	608,753
	Fixed-rate loans	437,306	323,212	344,854	217,918	150,282	382,420	1,855,994
	Total	447,949	401,428	394,415	290,699	193,719	736,534	2,464,747
As of March 31, 2024
	Floating-rate loans	52,847	88,862	103,452	73,406	76,940	471,490	867,000
	Fixed-rate loans	551,237	475,628	257,522	180,132	150,049	392,627	2,007,197
	Total	604,084	564,491	360,974	253,539	226,989	864,118	2,874,198

(2) Loans to Domestic Companies by Company Size

			(millions of yen except number of borrowers)
		As of March 31, 2023	As of March 31, 2024
			%		%
Large corporations	Number of borrowers	204	60.7	199	61.2
Amount of loans	1,659,429	81.7	1,900,854	82.3
Medium-sized corporations	Number of borrowers	5	1.5	6	1.8
Amount of loans	4,044	0.2	5,323	0.2
Small-sized corporations	Number of borrowers	127	37.8	120	36.9
Amount of loans	367,663	18.1	402,428	17.4
Total	Number of borrowers	336	100.0	325	100.0
Amount of loans	2,031,138	100.0	2,308,606	100.0

Note: 1. Categorization by company size is based on the following criteria:

1. 1. Large corporations include corporations with paid-in capital of at least ¥1 billion and more than 300 employees (more than 50 employees in the case of retailers and restaurants; more than 100 employees in the case of service companies and wholesalers).
   2. M edium-sized corporations include corporations with paid-in capital of more than ¥300 million and less than ¥1 billion (more than ¥50 million and less than ¥1 billion in the case of retailers, restaurants and service companies; more than ¥100 million and less than ¥1 billion in the case of wholesalers) and more than 300 employees (more than 50 employees in the case of retailers and restaurants; more than 100 employees in the case of service companies and wholesalers).
   3. Small corporations include all other corporations.

   2. Number of borrowers does not equal the number of loan transactions.

2. Loans by Collateral Type

					(millions of yen)
		As of March 31, 2023	As of March 31, 2024
		Carrying	%	Carrying	%
		amount	amount
Secured loans	2,217	0.1	2,904	0.1
	Stocks and other securities	1,318	0.1	1,913	0.1
	Real and personal estate	899	0.0	990	0.0
	Others	-	-	-	-
Guarantees	86,273	3.5	100,723	3.5
Unsecured loans	2,376,255	96.4	2,770,570	96.4
Others	-	-	-	-
Total loans	2,464,747	100.0	2,874,198	100.0
	Subordinated loans	247,058	10.0	264,514	9.2

Note: Policy loans are excluded.

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The Dai-ichi Life Insurance Company, Limited

(4) Loans by Industry

					(millions of yen)
			As of March 31, 2023	As of March 31, 2024
			Carrying amount	%	Carrying amount	%
Domestic
	Manufacturing industries	220,580	8.9	196,533	6.8
		Foodstuffs and beverages	27,479	1.1	35,818	1.2
		Textile products	676	0.0	540	0.0
		Lumber and wood products	500	0.0	-	-
		Pulp, paper and paper products	10,920	0.4	2,716	0.1
		Printing	17,500	0.7	15,000	0.5
		Chemical and allied products	34,972	1.4	28,672	1.0
		Petroleum refining	2,000	0.1	500	0.0
		Ceramic, stone and clay products	19,195	0.8	21,213	0.7
		Iron and steel	44,968	1.8	31,737	1.1
		Non-ferrous metals and products	5,288	0.2	7,184	0.2
		Fabricated metal products	950	0.0	540	0.0
		General-purpose and production- and business-oriented machinery	22,222	0.9	23,583	0.8
		Electrical machinery equipment and supplies	14,438	0.6	9,939	0.3
		Transportation equipment	12,864	0.5	12,816	0.4
		Miscellaneous manufacturing industries	6,606	0.3	6,272	0.2
	Agriculture and forestry	-	-	-	-
	Fishery	-	-	-	-
	Mining and quarrying of stone and gravel	-	-	-	-
	Construction	15,762	0.6	15,532	0.5
	Electricity, gas, heat supply and water	485,134	19.7	501,023	17.4
	Information and communications	67,124	2.7	57,156	2.0
	Transport and postal activities	229,873	9.3	228,930	8.0
	Wholesale trade	216,433	8.8	179,210	6.2
	Retail trade	8,909	0.4	9,038	0.3
	Finance and insurance	719,225	29.2	1,068,210	37.2
	Real estate	147,019	6.0	156,272	5.4
	Goods rental and leasing	91,577	3.7	82,966	2.9
	Scientific research, professional and technical services	4,450	0.2	6,120	0.2
	Accommodations	-	-	-	-
	Eating and drinking services	-	-	-	-
	Living-related and personal services and amusement services	11,507	0.5	6,954	0.2
	Education, learning support	-	-	-	-
	Medical, health care and welfare	2,463	0.1	1,788	0.1
	Other services	2,701	0.1	1,875	0.1
	Local governments	12,006	0.5	9,645	0.3
	Individuals	-	-	-	-
	Others	-	-	-	-
	Total domestic	2,234,768	90.7	2,521,259	87.7
Foreign
	Governments	4,484	0.2	6,795	0.2
	Financial institutions	-	-	-	-
	Commercial and industrial	225,494	9.1	346,143	12.0
	Total foreign	229,978	9.3	352,939	12.3
Total	2,464,747	100.0	2,874,198	100.0

Note: 1. Policy loans are excluded.

2. Domestic industry categories above are based on classification used by Bank of Japan in survey of loans.

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The Dai-ichi Life Insurance Company, Limited

3. Foreign Investments (General Account)

(1) Breakdown of Investment by Asset Category

A. Assets denominated in foreign currency				(millions of yen)
	As of March 31, 2023		As of March 31, 2024
	Carrying amount		%	Carrying amount		%
Foreign bonds	3,345,415		50.7	2,807,267		44.0
Foreign stocks	1,169,397		17.7	1,363,963		21.4
Cash, cash equivalents and other assets	422,964		6.4	575,968		9.0
Sub-total	4,937,777		74.8	4,747,199		74.5
B. Assets swapped into yen				(millions of yen)
	As of March 31, 2023		As of March 31, 2024
	Carrying amount		%	Carrying amount		%
Foreign bonds	-		-	-		-
Cash, cash equivalents and other assets	27,881		0.4	20,190		0.3
Sub-total	27,881		0.4	20,190		0.3
C. Assets denominated in yen				(millions of yen)
	As of March 31, 2023		As of March 31, 2024
	Carrying amount		%	Carrying amount		%
Loans to borrowers outside Japan	35,913		0.5	32,260		0.5
Foreign bonds and others	1,599,936		24.2	1,575,320		24.7
Sub-total	1,635,849		24.8	1,607,580		25.2
D. Total				(millions of yen)
	As of March 31, 2023		As of March 31, 2024
	Carrying amount		%	Carrying amount		%
Foreign investments	6,601,508		100.0	6,374,971		100.0

Note: Assets swapped into yen are assets whose settlement amounts are fixed into yen by foreign currency forward contracts and other agreements and which are reported in the yen amounts on the balance sheets.

(2) Foreign Currency-Denominated Assets by Currency

(millions of yen)

	As of March 31, 2023		As of March 31, 2024
	Carrying amount		%	Carrying amount		%
U.S. dollar	2,522,477		51.1	2,779,553		58.6
Australian dollar	914,427		18.5	771,303		16.2
Euro	890,921		18.0	744,208		15.7
British pound	172,040		3.5	170,489		3.6
Canadian dollar	115,921		2.3	74,948		1.6
New Zealand dollar	78,371		1.6	39,920		0.8
Indian Rupee	10,659		0.2	25,865		0.5
Total (including others not listed above)	4,937,777		100.0	4,747,199		100.0

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The Dai-ichi Life Insurance Company, Limited

(3) Investments by Region

(millions of yen)

		Foreign securities					Loans to borrowers located
		Bonds		Stocks and other securities	outside Japan
		Carrying amount	%	Carrying amount	%	Carrying amount	%	Carrying amount		%
As of March 31, 2023
	North America	2,034,652	34.3	1,428,359	32.1	606,292	41.1	41,098		17.9
	Europe	1,592,890	26.9	1,224,281	27.5	368,608	25.0	78,316		34.1
	Oceania	721,325	12.2	692,642	15.5	28,682	1.9	77,958		33.9
	Asia	210,608	3.6	155,378	3.5	55,230	3.7	8,855		3.9
	Latin America	1,195,865	20.2	779,517	17.5	416,348	28.2	23,750		10.3
	Middle East	261	0.0	-	-	261	0.0	-		-
	Africa	-	-	-	-	-	-	-		-
	International	174,608	2.9	174,608	3.9	-	-	-		-
	organizations
	Total	5,930,212	100.0	4,454,788	100.0	1,475,424	100.0	229,978		100.0
As of March 31, 2024
	North America	2,000,733	37.0	1,300,525	34.7	700,207	42.2	67,722		19.2
	Europe	1,366,133	25.3	943,933	25.2	422,199	25.5	130,784		37.1
	Oceania	554,941	10.3	541,279	14.5	13,661	0.8	110,333		31.3
	Asia	117,948	2.2	64,516	1.7	53,432	3.2	7,745		2.2
	Latin America	1,197,330	22.2	729,642	19.5	467,687	28.2	30,965		8.8
	Middle East	350	0.0	-	-	350	0.0	-		-
	Africa	-	-	-	-	-	-	5,386		1.5
	International	162,902	3.0	162,902	4.4	-	-	-		-
	organizations
	Total	5,400,341	100.0	3,742,801	100.0	1,657,540	100.0	352,939		100.0

Note: Categorization of region is generally based on nationalities of issuers or borrowers.

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The Dai-ichi Life Insurance Company, Limited

4. Fair Value Information on Derivative Transactions (General Account)

(1) Gains and losses on derivatives (Hedge-Accounting-Applied and Not-Applied)

														(millions of yen)
			As of March 31, 2023						As of March 31, 2024
	Interest-	Currency-	Stock-		Bond-	Others	Total	Interest-	Currency-		Stock-	Bond-	Others	Total
	related	related	related		related	related	related		related	related
Hedge accounting applied	(25,897)	(71,887)	-		-	-	(97,785)	(43,226)	(119,893)		-	-	-	(163,120)
Hedge accounting not applied	14,266	(7,027)	(2,345)		418	405	5,716	(6,058)	(13,456)		(7,267)	(333)	752	(26,363)
Total	(11,631)	(78,915)	(2,345)		418	405	(92,068)	(49,285)	(133,349)		(7,267)	(333)	752	(189,483)
Note: Regarding the table above, following figures are reported in the statements of earnings:
As of March 31, 2023:	gains/losses from derivatives with hedge accounting (fair value hedge method) applied (currency-related, loss of 56,613 million yen), and
	gains/losses from derivatives with hedge accounting not applied (gain of 5,716 million yen), totaling loss of 50,896 million yen.

As of March 31, 2024:gains/losses from derivatives with hedge accounting (fair value hedge method) applied (currency-related, loss of 31,166 million yen) and gains/losses from derivatives with hedge accounting not applied (loss of 26,363 million yen), totaling loss of 57,529 million yen.

1. Fair value information (Hedge-Accounting-Not-Applied)
   ① Interest-related transactions

									(millions of yen)
			As of March 31, 2023			As of March 31, 2024
		Notional amount/		Fair	Gains	Notional amount/		Fair	Gains
		Over	Over
		contract value	value	(losses)	contract value	value	(losses)
		1 year	1 year
Over-the-counter transactions
	Yen interest rate swaps
	Receipts fixed, payments floating	10,000	10,000	(338)	(338)	10,000	10,000	(689)	(689)
	Receipts floating, payments fixed	10,000	10,000	338	338	10,000	10,000	689	689
	Yen interest rate swaption
	Bought
	Receipts floating, payments fixed	1,580,000	635,000			1,240,000	1,180,000
		[ 19,754 ]	[ 7,108 ]	34,020	14,266	[ 20,468 ]	[ 20,119 ]	14,410	(6,058)

Total

14,266

(6,058)

Note: 1. Figures in [ ] are option premiums which are included in the balance sheets.

2. Fair value for swaps, and differences between the option premiums paid/received and fair value of the option for option transactions, are shown in "Gains (losses)".

(Reference) Interest rate swaps by contractual maturity dates

						(millions of yen, percentage)
	1 year or	Over 1	Over 3	Over 5	Over 7	Over
	year to	years to	years to	years to	Total
	shorter	10 years
	3 years	5 years	7 years	10 years

As of March 31, 2023

	Yen interest rate swaps
	Notional amount (receipts fixed, payments floating)	-	-	-	-	-	10,000	10,000
	Average fixed rate (receipt)	-	-	-	-	-	0.64	0.64
	Average floating rate (payment)	-	-	-	-	-	0.10	0.10
	Notional amount (receipts floating, payments fixed)	-	-	-	-	-	10,000	10,000
	Average fixed rate (payment)	-	-	-	-	-	0.64	0.64
	Average floating rate (receipt)	-	-	-	-	-	0.10	0.10
	Total	-	-	-	-	-	20,000	20,000
As of March 31, 2024
	Yen interest rate swaps
	Notional amount (receipts fixed, payments floating)	-	-	-	-	-	10,000	10,000
	Average fixed rate (receipt)	-	-	-	-	-	0.63	0.63
	Average floating rate (payment)	-	-	-	-	-	0.05	0.05
	Notional amount (receipts floating, payments fixed)	-	-	-	-	-	10,000	10,000
	Average fixed rate (payment)	-	-	-	-	-	0.63	0.63
	Average floating rate (receipt)	-	-	-	-	-	0.05	0.05
	Total	-	-	-	-	-	20,000	20,000

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The Dai-ichi Life Insurance Company, Limited

• Currency-relatedtransactions

						(millions of yen)
	As of March 31, 2023	As of March 31, 2024
	Notional amount/	Fair	Gains (losses)	Notional amount/	Fair	Gains (losses)
	contract value	value	contract value	value
Over-the-counter transactions
Currency forward contracts
Sold	369,137	(4,514)	(4,514)	609,204	(10,055)	(10,055)
U.S. dollar	116,964	(870)	(870)	190,554	(3,608)	(3,608)
Australian dollar	76,562	980	980	159,727	(2,922)	(2,922)
Euro	52,526	(2,045)	(2,045)	115,704	(1,869)	(1,869)
British pound	49,145	(2,390)	(2,390)	86,747	(1,257)	(1,257)
Canadian dollar	18,506	(94)	(94)	31,355	(449)	(449)
Others	55,432	(94)	(94)	25,115	52	52
Bought	84,560	229	229	247,154	171	171
U.S. dollar	59,013	47	47	147,589	150	150
Euro	2,301	54	54	42,745	(104)	(104)
British pound	2,630	49	49	23,309	65	65
Canadian dollar	1,624	-	-	5,434	71	71
Australian dollar	1,414	8	8	5,163	34	34
Others	17,574	70	70	22,911	(45)	(45)
Currency options
Sold
Put	-			2,943
	[ - ]	-	-	[ - ]	-	-
Others	-			2,943
	[ - ]	-	-	[ - ]	-	-
Call	49,272			2,788
	[ 311 ]	115	195	[ 10 ]	-	10
U.S. dollar	49,272			-
	[ 311 ]	115	195	[ - ]	-	-
Others	-			2,788
	[ - ]	-	-	[ 10 ]	-	10
Bought
Put	188,951			194,510
	[ 4,283 ]	1,345	(2,938)	[ 3,577 ]	15	(3,562)
U.S. dollar	138,564			190,019
	[ 3,109 ]	829	(2,279)	[ 3,563 ]	2	(3,561)
Euro	-			1,632
	[ - ]	-	-	[ 14 ]	12	(1)
Australian dollar	50,387			-
	[ 1,174 ]	515	(659)	[ - ]	-	-
Others	-			2,858
	[ - ]	-	-	[ - ]	-	-
Call	-			5,177
	[ - ]	-	-	[ 43 ]	22	(20)
U.S. dollar	-			757
	[ - ]	-	-	[ 13 ]	22	8
Others	-			4,420
	[ - ]	-	-	[ 29 ]	0	(29)
Total			(7,027)			(13,456)

Note: 1. Figures in [ ] are option premiums which are included in the balance sheets.

1. Forward exchange rates are used for exchange rates as of period ends.
2. Fair value for forward contracts, and differences between the option premiums paid/received and fair value of the option for option transactions, are shown in "Gains (losses)".
3. There were no transactions with a maturity of more than one year in the table above.

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The Dai-ichi Life Insurance Company, Limited

③Stock-related transactions

						(millions of yen)
	As of March 31, 2023	As of March 31, 2024
	Notional amount/	Fair	Gains (losses)	Notional amount/	Fair		Gains (losses)
	contract value	value	contract value	value

Exchange-traded transactions
	Yen stock index options
	Bought
	Put	330,195			458,503
		[ 4,081]	2,169	(1,912)	[ 10,083]	3,193	(6,890)
	Foreign currency-denominated
	stock index options
	Bought
	Put	39,690			20,883
		[ 588]	155	(433)	[ 429]	53	(376)

Total

(2,345)

(7,267)

Note: 1. Figures in [ ] are option premiums which are included in the balance sheets.

1. Differences between the option premiums paid/received and fair value of the option for option transactions are shown in "Gains (losses)".
2. There were no transactions with maturity of more than one year in the table above.

④Bond-related transactions

						(millions of yen)
	As of March 31, 2023	As of March 31, 2024
	Notional amount/	Fair	Gains (losses)	Notional amount/	Fair		Gains (losses)
	contract value	value	contract value	value

Exchange-traded transactions
	Foreign currency-denominated
	bond futures
	Sold	-	-	-	40,811	(309)	(309)
	Bought	-	-	-	93,712	(14)	(14)
Over-the-counter transactions
	Foreign currency-denominated
	bond forward contracts
	Sold	-	-	-	13,967	5	5
	Bought	-	-	-	22,284	62	62
	Yen bond OTC options
	Sold
	Call	29,124			74,630
		[ 25]	72	(47)	[ 88]	351	(262)
	Put	95,842			-
		[ 341]	102	239	[ - ]	-	-
	Bought
	Call	95,842			-
		[ 296]	554	257	[ - ]	-	-
	Put	29,124			74,630
		[ 33]	0	(32)	[ 117]	301	184

Total

418

(333)

Note: 1. Figures in [ ] are option premiums which are included in the balance sheets.

1. Fair value for futures and forward contracts, and differences between the option premiums paid/received and fair value of the option for option transactions, are shown in "Gains (losses)".
2. There were no transactions with maturity of more than one year in the table above.

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The Dai-ichi Life Insurance Company, Limited