Investor Presentaiton

Shift in Household Financial Assets Trend in Household Financial Assets (Trillions of yen) 2,000 1,800 1,600 1,400 1,200 1,000 800 600 400 200 0 85 86 87 88 89 90 91 92 93 94 95 96 Others Insurance & annuities 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 □ Securities Cash & deposits Dai-ichi Life Holdings 52% of 1,700 trillion yen household financial assets is in cash and deposits ■ Some will shift to insurance & annuities or securities in anticipation for inflation Revised inheritance tax law in 2015 reduced basic allowance by a wide margin Business of Japanese Banks ■ Japanese banks face 200 trillion yen gap between loans and deposits ■Banks are expanding their commission business 10

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