Consolidated Summary Report under Japanese GAAP for the Six Months Ended September 30, 2021

(Unofficial Translation)

Consolidated Summary Report under Japanese GAAP for the Six Months Ended September 30, 2021

										November 12, 2021
Company Name:	Dai-ichi Life Holdings, Inc.				Stock exchange listings: Tokyo
Code Number:	8750					URL: https://www.dai-ichi-life-hd.com/
Representative:	Seiji Inagaki, President, Representative Director
For inquiry:	Atsushi Nakamura, General Manager, Investor Relations Group, Corporate Planning Unit
	TEL: [phone]
Quarterly securities report issue date: November 12, 2021	Dividend payment date:	-
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 Six Months Ended September 30, 2021
(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
Six Months Ended		million yen	%	million yen		%		million yen		%
September 30, 2021	3,765,781	12.0	286,247		75.8		178,474		114.2
September 30, 2020	3,363,159	(8.0)	162,838		(15.9)		83,329		(9.2)

Note. Comprehensive income (loss) for the six months ended September 30, 2021 and 2020 were 337,454 million yen (50.7% decrease year-on-year) and 684,623 million yen (2.2% decrease year-on-year), respectively.

	Net Income		Diluted Net Income
	per Share		per Share
Six Months Ended		yen	yen
September 30, 2021		163.45	163.36
September 30, 2020		74.12	74.07

(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	%
September 30, 2021	65,788,808	4,986,796	7.6
March 31, 2021	63,593,705	4,807,129	7.6

(Reference) Net assets attributable to the Company's shareholders as of September 30, 2021 and March 31, 2021 were 4,986,101 million yen and 4,806,208 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, 2021	-	0.00	-		62.00	62.00
March 31, 2022	-	0.00
March 31, 2022			-		80.00	80.00
(Forecast)

Note. Revision of dividend forecasts on the presentation date of this consolidated summary report: Yes

For details of the revision of dividend forecast, please refer to Revision of Consolidated Earnings and Dividend Forecast for the Fiscal Year Ending March 31, 2022 disclosed on November 12, 2021.

3. Consolidated Earnings Forecasts for the Fiscal Year ending March 31, 2022

					(% 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, 2022	7,232,000	(7.6)	520,000		(5.9)	349,000	(4.1)	326.25

Note. Revision of earnings forecasts on the presentation date of this consolidated summary report: Yes

For details of the revision of consolidated earnings forecast, please refer to Revision of Consolidated Earnings and Dividend Forecast for the Fiscal Year Ending March 31, 2022 disclosed on November 12, 2021.

"Net income per share" is presented in the Consolidated Earnings Forecasts for the Fiscal Year ending March 31, 2022, factoring in the status of total shares outstanding and the Company's own shares as of September 30, 2021.

4. Notes

1. Changes in significant subsidiaries during the period: No
2. 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 (4) Notes to the Consolidated Financial Statements in the Appendix.

(3) Number of shares outstanding (common stock)
	As of September 30, 2021		As of March 31, 2021
(A) Total shares outstanding including treasury stock:	1,116,939,700	1,198,755,800
(B) Shares of treasury stock held:	47,198,125	88,541,025
	Six months ended		Six months ended
	September 30, 2021		September 30, 2020
(C) Average outstanding shares:	1,091,942,891	1,124,232,308

Note. The number of treasury stocks includes the shares of the Company (3,904,300 shares as of September 30, 2021 and 3,942,700 shares as of

March 31, 2021) held by the Stock Granting Trust (J-ESOP trust).

(Non-consolidated financial data)

1. Non-Consolidated Financial Data for the Six Months Ended September 30, 2021

(1) Non-consolidated results of operations

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

	Sales Revenues	Operating Profit
Six Months Ended	million yen	%	million yen		%
September 30, 2021	171,279	4.1	164,245		3.9
September 30, 2020	164,460	7.8	158,040		7.9
	Ordinary Profit	Net Income
Six Months Ended	million yen	%	million yen		%
September 30, 2021	161.989	3.4	144,338		(7.5)
September 30, 2020	156,652	8.0	156,082		8.1
	Net Income
	per Share
Six Months Ended		yen
September 30, 2021		132.19
September 30, 2020		138.83

(2) Non-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	%
September 30, 2021	1,882,899	1,353,674	71.9
March 31, 2021	1,896,259	1,367,153	72.0

(Reference) Net assets attributable to the Company's shareholders as of September 30, 2021 and March 31, 2021 were 1,352,979 million yen and 1,366,232 million yen, respectively.

*This report is exempt from the interim audits of CPAs or Audit firms.

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

As the same treatment as a company engaged in a specified business (a company engaged in any of the businesses provided in Article 17-15, paragraph 2 of the Cabinet Office Order on Disclosure of Corporate Affairs; hereinafter a "Specified Company"), the Company prepares this report based on the format for a Specified Company in the second quarter.

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 Consolidated Financial Statements and Notes ……………………………………………………… 2

1. Consolidated Balance Sheet …………………………………………………………………………………… 2

(2) Consolidated Statement of Earnings and Comprehensive Income ……………………………………………	4
Consolidated Statement of Earnings ……………………………………………………………………… 4
Consolidated Statement of Comprehensive Income ………………………………………………………	6
(3) Consolidated Statement of Changes in Net Assets ……………………………………………………………	7
(4) Notes to the Consolidated Financial Statements ………………………………………………………………	9
(Notes on Going-Concern Assumptions) …………………………………………………………………	9

(Changes in Accounting Policies) ………………………………………………………………………… 9

The Company plans to hold a conference call for institutional investors and analysts regarding its financial results for the six months ended September 30, 2021 on November 12, 2021. The material for the conference call will be posted on TDnet and the Company's website.

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Dai-ichi Life Holdings, Inc.

1. Unaudited Consolidated Financial Statements and Notes

(1) Consolidated Balance Sheet

		(Unit: million yen)
	As of	As of
	March 31, 2021	September 30, 2021
ASSETS
Cash and deposits	1,884,141	1,950,465
Call loans	403,700	309,700
Monetary claims bought	252,140	263,861
Money held in trust	1,130,920	1,123,408
Securities	50,879,947	52,409,695
Loans	3,762,666	3,888,089
Tangible fixed assets	1,113,299	1,117,939
Intangible fixed assets	445,163	482,958
Reinsurance receivable	1,668,969	1,832,523
Other assets	2,016,733	2,369,554
Deferred tax assets	12,014	8,784
Customers' liabilities for acceptances and guarantees	52,861	51,409
Reserve for possible loan losses	(28,224)	(19,028)
Reserve for possible investment losses	(627)	(552)
Total assets	63,593,705	65,788,808
LIABILITIES
Policy reserves and others	51,051,420	51,844,094
Reserves for outstanding claims	753,126	797,385
Policy reserves	49,897,294	50,652,294
Reserve for policyholder dividends	400,999	394,415
Reinsurance payable	796,523	724,015
Bonds payable	899,770	802,795
Other liabilities	4,671,205	5,984,002
Payables under repurchase agreements	2,346,988	3,835,511
Other liabilities	2,324,216	2,148,491
Net defined benefit liabilities	418,546	420,199
Reserve for retirement benefits of directors, executive officers and corporate	998	933
auditors
Reserve for possible reimbursement of prescribed claims	800	654
Reserves under the special laws	264,454	276,246
Reserve for price fluctuations	264,454	276,246
Deferred tax liabilities	558,387	626,841
Deferred tax liabilities for land revaluation	71,606	70,819
Acceptances and guarantees	52,861	51,409
Total liabilities	58,786,576	60,802,012

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