Financial Results and Earnings Forecast

Financial Results and Earnings Forecast: Q2 FY25

IFRS

Group consolidated adjusted net income (IFRS)^*1 for FY25.1H and FY25 Financial results forecast (IFRS)

• Consolidated adjusted net income for FY25.1H was 45.9 billion yen (decreased 2.3 billion yen year-on-year) due to the decrease in the life insurance and banking businesses, despite increase in the non-life insurance business. In the non-life insurance business, adjusted net income increased due to a decrease in insurance claims payments resulting from fewer natural disasters.
• In the life insurance business, adjusted net income decreased mainly due to an increase of loss components resulting from higher risk adjustments caused by rising interest rates and changes in estimated future cash flows of insurance policies.
• The progress rates against the revised forecast are 47% for FY25.1H and 26% for FY25.Q2(3M), progressing almost in line with the plan.

J-GAAP

Financial Results Overview

Consolidated ordinary revenues increased 19.4%, compared with the same period of the previous fiscal year (year-on-year), to 1,532.4 billion yen, due to an increase in ordinary revenues from the life insurance business, the non-life insurance and the banking businesses. Consolidated ordinary loss was 19.3 billion yen, compared to an ordinary profit of 25.6 billion yen during the same period of the previous fiscal year, due to a decrease in ordinary profit from the life insurance and the banking businesses, whereas ordinary profit from the non-life insurance business increased. Loss attributable to owners of the parent was 17.4 billion yen, compared to the profit of 17.8 billion yen during the same period of the previous fiscal year.

Financial Position Overview

As of September 30, 2025, total assets amounted to 24,106.6 billion yen, increased 3.1% from March 31, 2025. Among major components of assets, securities, mostly government bonds, amounted to 18,299.5 billion yen, increased 4.4% from March 31, 2025. Loans amounted to 3,875.2 billion yen, decreased 0.6%.
Total liabilities were 23,458.5 billion yen, increased 3.3% from March 31, 2025. Major components of liabilities included policy reserves and others of 16,469.4 billion yen, increased 4.0%, and deposits totaled 4,363.2 billion yen, increased 2.8%.
Total net assets were 648.1 billion yen, decreased 3.2% from March 31, 2025. This included net unrealized gains (losses) on available-for-sale securities, net of taxes, which decreased by 4.1 billion yen, to (77.2) billion yen.

Future Outlook