T&D : Non-Consolidated Financial Statements for the Fiscal Year Ended March 31, 2019

Daido Life Unaudited Non-Consolidated Balance Sheet

		(Millions of yen)
	As of	As of
	March 31, 2018	March 31, 2019
Assets:
Cash and deposits	201,685	286,704
Deposit	201,685	286,704
Call loans	10,000	-
Monetary claims purchased	61,456	65,598
Monetary trusts	1,186	8,689
Securities	5,548,761	5,666,555
Government bonds	1,630,802	1,762,691
Municipal bonds	204,452	196,646
Corporate bonds	1,258,933	1,201,412
Domestic stocks	339,251	284,079
Foreign securities	1,926,168	2,019,239
Other securities	189,152	202,486
Loans	495,166	540,638
Policy loans	72,170	72,982
Commercial loans	422,995	467,655
Tangible fixed assets	141,335	145,163
Land	83,695	85,943
Buildings	55,231	51,911
Lease Assets	425	293
Construction in progress	771	5,881
Other tangible fixed assets	1,211	1,133
Intangible fixed assets	11,123	12,526
Software	10,195	11,659
Lease Assets	228	167
Other intangible fixed assets	700	699
Due from agencies	563	512
Due from reinsurers	604	385
Other assets	77,437	81,205
Accounts receivable	37,978	43,353
Prepaid expenses	1,739	2,251
Accrued income	23,799	22,329
Deposit for rent	2,152	2,189
Initial margins of futures markets	-	1,454
Derivatives	10,455	7,697
Suspense payable	678	1,323
Other assets	633	605
Deferred tax assets	24,823	35,385
Reserve for possible loan losses	(219)	(185)
Total assets	6,573,924	6,843,179

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Daido Life Insurance Company

					(Millions of yen)
				As of	As of
				March 31, 2018	March 31, 2019
Liabilities:
Policy reserves				5,729,754	5,986,450
Reserve for outstanding claims			37,482	38,386
Policy reserve			5,636,328	5,894,440
Reserve for policyholder dividends			55,943	53,623
Due to reinsurers			683	762
Other liabilities				60,580	58,483
Income taxes payable			1,715	1,386
Accounts payable			28,893	19,005
Accrued expenses			9,604	11,061
Unearned income			472	537
Deposit received			723	729
Guarantee deposits			7,281	7,412
Derivatives				2,634	10,482
Cash collateral received for financial instruments		4,916	3,977
Lease obligations			709	500
Asset retirement obligations			1,930	1,971
Suspense receipt			1,699	1,418
Provision for	bonuses to directors and	audit	&	69	73
supervisory board members
Provision for employees' retirement benefits			20,759	22,175
Reserves under the special laws			101,555	112,800
Reserve for price fluctuations			101,555	112,800
Total liabilities				5,913,402	6,180,746
Net assets:
Capital stock				110,000	110,000
Capital surplus				35,054	35,054
Capital reserve			35,054	35,054
Retained earnings			321,087	344,213
Legal reserve for future losses			36,752	41,233
Other retained earnings			284,334	302,980
Provision	for advanced depreciation	on real	1,113	1,363
estate
General reserve			150,000	150,000
Unappropriated retained earnings			133,221	151,617
Total shareholders' equity			466,141	489,267
Valuation difference on available-for-sale securities		194,380	173,165
Total valuation and translation adjustments			194,380	173,165
Total net assets				660,521	662,433
Total liabilities and net assets			6,573,924	6,843,179

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Daido Life Insurance Company

Daido Life Unaudited Non-Consolidated Statement of Operation

				(Millions of yen)
			Year ended	Year ended
			March 31, 2018	March 31, 2019
Ordinary revenues		988,070	1,045,561
Income from insurance premiums	790,852	828,003
Insurance premiums	789,337	826,576
Ceded reinsurance recoveries	1,514	1,427
Investment income		171,830	191,065
Interest, dividends and income from real estate for	141,840	145,486
rent
		874	1,002
Interest income from deposits
Interest income and dividends from securities	125,023	127,600
Interest income from loans	7,007	7,045
Interest from real estate for rent	7,603	8,612
Other income from interest and dividends	1,331	1,225
Gains from monetary trusts, net	-	190
Gains on investments in trading securities, net	-	25
Gains on sales of securities	25,620	41,517
Gains on redemption of securities	-	1,168
Reversal of reserve for possible loan losses	16	33
Other investment income	2,500	2,528
Gains on separate accounts, net	1,852	113
Other ordinary income	25,387	26,492
Income	related to	withheld insurance claims and	17,870	21,425
other payments for future annuity payments
Income due to withheld insurance payments	1,288	1,225
Reversal of reserve for outstanding claims	2,632	-
Other ordinary income	3,595	3,841
Ordinary expenses		898,672	956,290
Insurance claims and other payments	496,329	510,573
Insurance claims		144,818	137,838
Annuity payments		52,317	54,601
Insurance benefits		69,184	68,652
Surrender payments	218,783	236,601
Other payments		8,461	9,845
Reinsurance premiums	2,764	3,033
Provision for policy and other reserves	232,739	259,032
Provision for reserve for outstanding claims	-	904
Provision for policy reserve	232,722	258,111
Interest	portion	of reserve for policyholder	17	16
dividends
Investment expenses		46,233	61,342
Interest expenses		16	16
Losses from monetary trusts, net	1	-
Losses on investments in trading securities, net	195	-
Losses on sales of securities	3,985	12,150
Devaluation losses on securities	6,193	2,960
Losses from derivatives, net	20,360	28,888
Foreign exchange losses, net	344	786
Depreciation of real estate for rent	2,407	2,653
Other investment expenses	12,727	13,887
Operating expenses		103,602	103,883
Other ordinary expenses	19,767	21,458
Payments related to withheld insurance claims	1,985	2,142
Taxes			8,421	8,652
Depreciation		4,070	4,216
Provision for employees' retirement benefits	3,458	4,526
Other ordinary losses	1,830	1,920
Ordinary profit		89,397	89,270

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Daido Life Insurance Company

		(Millions of yen)
	Year ended	Year ended
	March 31, 2018	March 31, 2019
Extraordinary gains	55	497
Gains on disposal of fixed assets	13	497
Gain on sales of affiliates	42	-
Extraordinary losses	11,754	12,454
Losses on disposal of fixed assets	664	603
Impairment losses	-	538
Provision for reserve for price fluctuations	11,089	11,244
Other extraordinary losses	-	68
Provision for reserve for policyholder dividends	14,668	14,005
Income before income taxes	63,031	63,308
Current income taxes	22,854	21,414
Deferred income taxes	(4,396)	(3,634)
Total income taxes	18,458	17,779
Net income	44,572	45,528

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Daido Life Insurance Company