Dai ichi Life : Consolidated Summary Report under Japanese GAAP for the Nine Months Ended December 31, 2021

(Unofficial Translation)

Consolidated Summary Report under Japanese GAAP for the Nine Months Ended December 31, 2021

										February 14, 2022
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]		Dividend payment date:	-
Quarterly securities report issue date: February 14, 2022
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 Nine Months Ended December 31, 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
Nine Months Ended	million yen	%	million yen		%	million yen	%
December 31, 2021	5,673,748	11.6	467,475		55.2	292,907	77.3
December 31, 2020	5,085,037	(5.2)	301,202		15.0	165,210	29.6

Note. Comprehensive income (loss) for the nine months ended December 31, 2021 and 2020 were 399,329 million yen (61.6% decrease year-on-year) and 1,039,900 million yen (15.5% increase year-on-year), respectively.

	Net Income		Diluted Net Income
	per Share		per Share
Nine Months Ended		yen	yen
December 31, 2021		271.12	270.98
December 31, 2020		147.57	147.48

(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	%
December 31, 2021	65,805,132	4,995,192	7.6
March 31, 2021	63,593,705	4,807,129	7.6

(Reference) Net assets attributable to the Company's shareholders as of December 31, 2021 and March 31, 2021 were 4,994,497 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: No

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)	333.25

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, 2022, factoring in the status of total shares outstanding and the Company's own shares as of December 31, 2021.

* 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 December 31, 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:	69,682,931	88,541,025
	Nine months ended		Nine months ended
	December 31, 2021		December 31, 2020
(C) Average outstanding shares:	1,080,363,806	1,119,547,130

Note. The number of treasury stocks includes the shares of the Company (3,902,000 shares as of December 31, 2021 and 3,942,700 shares as of March 31,

2021) 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 nine months ended December 31, 2021 on February 14, 2022. 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 Quarterly Consolidated Financial Statements and Notes

(1) Quarterly Consolidated Balance Sheet

		(Unit: million yen)
	As of	As of
	March 31, 2021	December 31, 2021
ASSETS
Cash and deposits	1,884,141	1,906,540
Call loans	403,700	454,800
Monetary claims bought	252,140	263,383
Money held in trust	1,130,920	1,110,680
Securities	50,879,947	52,454,699
Loans	3,762,666	3,908,092
Tangible fixed assets	1,113,299	1,132,932
Intangible fixed assets	445,163	492,384
Reinsurance receivable	1,668,969	1,836,126
Other assets	2,016,733	2,206,961
Deferred tax assets	12,014	8,498
Customers' liabilities for acceptances and guarantees	52,861	45,757
Reserve for possible loan losses	(28,224)	(15,210)
Reserve for possible investment losses	(627)	(515)
Total assets	63,593,705	65,805,132
LIABILITIES
Policy reserves and others	51,051,420	52,091,359
Reserves for outstanding claims	753,126	842,215
Policy reserves	49,897,294	50,842,858
Reserve for policyholder dividends	400,999	406,285
Reinsurance payable	796,523	707,679
Bonds payable	899,770	885,338
Other liabilities	4,671,205	5,708,244
Payables under repurchase agreements	2,346,988	3,538,098
Other liabilities	2,324,216	2,170,146
Net defined benefit liabilities	418,546	421,139
Reserve for retirement benefits of directors, executive officers and	998	900
corporate auditors
Reserve for possible reimbursement of prescribed claims	800	563
Reserves under the special laws	264,454	282,257
Reserve for price fluctuations	264,454	282,257
Deferred tax liabilities	558,387	595,926
Deferred tax liabilities for land revaluation	71,606	70,771
Acceptances and guarantees	52,861	45,757
Total liabilities	58,786,576	60,809,940

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Dai-ichi Life Holdings, Inc.

		(Unit: million yen)
	As of	As of
	March 31, 2021	December 31, 2021
NET ASSETS
Capital stock	343,732	343,926
Capital surplus	330,065	330,259
Retained earnings	1,375,805	1,454,620
Treasury stock	(155,959)	(151,149)
Total shareholders' equity	1,893,643	1,977,657
Net unrealized gains (losses) on securities, net of tax	3,056,350	3,096,254
Deferred hedge gains (losses)	(2,916)	(783)
Reserve for land revaluation	(22,026)	(24,173)
Foreign currency translation adjustments	(108,830)	(46,726)
Accumulated remeasurements of defined benefit plans	(10,012)	(7,732)
Total accumulated other comprehensive income	2,912,564	3,016,839
Subscription rights to shares	920	694
Total net assets	4,807,129	4,995,192
Total liabilities and net assets	63,593,705	65,805,132

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