Slides
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Q2 FY2025 Financial Results November 14, 2025 Sony Financial Group Inc.
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Notes Sony Financial Group (“Sony FG”) refers to the financial services group consisting of Sony Financial Group Inc. (“SFGI”), andits subsidiaries including Sony Life Insurance Co., Ltd. (“Sony Life”), Sony Assurance Inc. (“Sony Assurance”), Sony Bank Inc. (“Sony Bank”), Sony Lifecare Inc. (“SLC”), Sony Financial Ventures Inc. (“SFV”), and their subsidiaries and affiliates. The consolidated and non-consolidated financial results of SFGI, Sony Life, Sony Assurance and Sony Bank are prepared in accordance with Japanese accounting standards (“J-GAAP”). This presentation discloses past performance and specific targets of Sony FG companies based on the International Financial Reporting Standards (“IFRS Accounting Standards”) for the purpose of international financial information comparability and to illustrate management indicators suitable for the long-term management focus of Sony FG. Sony FG believes that these disclosures provide useful information to investors. These disclosures based onIFRS Accounting Standards are not meant to replace the J-GAAP disclosure of the management performance of SFGI, Sony Life, Sony Assurance, and Sony Bank but may be referred to as additional information. Unless otherwise indicated, figures, ratios and percentages less than their respective indicated unit in this presentation have been rounded to the nearest whole number or truncated. “Lifeplanner” is a registered trademark of Sony Life. Company names and product names that appear in this presentation, other than those mentioned above, are trademarks or registered trademarks of Sony Group Corporation or Sony FG companies. The adjusted net income detailed in this presentation excludes the impact of one-time gains and losses. Sony FG considers these metrics to represent businesses’ sustainable earning power and to facilitate assessment, from a management-level perspective, of long-term business expansion through the cycle of investments and returns across Sony FG. While these management metrics are not presented in accordance with J-GAAP or IFRS Accounting Standards, Sony FG believes that these disclosures provide useful information to investors. The adjusted net income is not intended to replace the J-GAAP disclosure of the management performance of SFGI, Sony Life, Sony Assurance, and Sony Bank, but may be referred to as additional information. This presentation contains statements concerning the current plans, expectations, strategies and beliefs of Sony FG. Any statements contained herein that are not historical facts are forward-looking statements or pro forma information. Forward-looking statements may include—but are not limited to—words such as “believe,” “anticipate,” “plan,” “strategy,” “expect,” “assume,” “forecast,” “predict,” “propose,” “intend” and “possibility” that describe future operating activities, business performance, events or conditions. Forward-looking statements, whether spoken or written, may also be included in other materials released to the public. These forward-looking statements and pro forma information are based on assumptions, decisions and judgments made by the management of Sony FG, and are based on informationthat is currently available to them. As such, they are subject to various risks and uncertainties, and actual business results may vary substantially from the forecasts expressed or implied in forward-looking statements. Consequently, investors are cautioned not to place undue reliance on forward-looking statements. Sony FG is under no obligation to revise forward-looking statements or pro forma information in light of new information, future events or other findings. The information contained in this presentation does not constitute or form part of any offer for sale or subscription of or solicitation or invitation of any offer to buy or subscribe to any securities, nor shall it or any part of it form the basis of or be relied on in connection with any contract or commitment whatsoever in Japan or abroad. 1
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Key Points (IFRS Accounting Standards basis) 1. Group Consolidated Adjusted Net Income*1 : 45.9 billion yen - Decreased ¥2.3 billion (4.8%) compared to the same period of the previous fiscal year (“YoY”), mainly due to the decreased adjusted net income in Sony Life - 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. 2. Sony Life - New policy acquisitions in the corporate segment remain strong, supporting steady growth in the policies in force. - Recruitment of Lifeplanner sales specialists and Agency Supporters is progressing well, steadily expanding LP channel and Agency channel. 3. FY25 Forecast remains unchanged - FY25 Group Consolidated Adjusted Net Income forecast of ¥98.0 billion remains unchanged. - FY25 year-end dividend forecast of ¥25.0 billion (¥50.0 billion on an annualized basis) remains unchanged. 2*1 Adjusted net income is not a measure in accordance with IFRS Accounting Standards and J-GAAP. However, Sony FG believes that this disclosure may be useful information to investors. For further details about the calculation formula and reconciliations to adjusted net income, see pages 13 and 14; the same applies to subsequent pages.
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Group Consolidated Adjusted Net Income (IFRS Accounting Standards basis) 39.4 36.6 84.02.6 4.6 6.0 7.1 5.8 11.0 (0.9) (1.1) (3.0) 48.2 (2.7) 2.0 (1.2) (0.4) 45.9 FY24.1H Life insurance business Non-life insurance business Banking business Others FY25.1H FY25 forecast （billion yen） *1 The breakdown figures are an approximation. Breakdown*1 1) Increase of loss components : (4.0) 2) Decrease of repo interest, etc. : +4.0 3) Increase in business expenses : (1.5) Breakdown*1 1) Decrease in natural disasters : +1.0 3 98.0 Progress 1H:47％ (Q1:21%、Q2:26%) Breakdown*1 1) Increase in operating expenses : (1.0) Life insurance business Banking business Non-life insurance business Others • Consolidated adjusted net income for FY25.1H was ¥45.9 billion (decreased ¥2.3 billion YoY) 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.
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Sony Life｜FY25.1H Overview • Annualized premiums from new policies decreased YoY but reached a level comparable to the previous year in Q2 (3M). • Annualized premiums from policies in force increased as corporate sales, primarily through the Lifeplanner channel, remained stable. • Sales channel is expanding as recruitment of Lifeplanner sales specialists and Agency Supporters progressed well. 4 5,516 5,795 5,832 End of FY23 End of FY24 End of FY25.Q2 271 265 313 End of FY23 End of FY24 End of FY25.Q2 Number of Lifeplanner sales specialists Number of Agency Supporters +48 +37 32.8 43.9 40.6 38.6 43.8 43.3 43.2 43.4 45.8 49.6 160.5 180.8 84.0 1,206.5 1,297.4 1,337.9 FY23 FY24 FY25.1H （billion yen） Annualized Premiums*1 (3.7) Annualized Premiums from Policies in Force Annualized Premiums from New Policies Q1 Q3 Q2 Q4 *1 Total of individual life insurance and individual annuities. （people） （people）
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Breakdown of Sony Life’s Pre-tax CSM Movement at the Beginning and End of the Period (IFRS Accounting Standards) 2,087.1 2,068.5 2,097.6 388.8 (257.2) (150.1) 157.3 (50.3) (77.8) End of FY23 End of FY24 End of FY25.Q2 Opening/Closing CSM Balance New Business CSM Other CSM Release FY24 6.8% CSM Release Rate Note 1: Reinsurance CSM is not included. Note 2: The audits and review on the financial information based on IFRS Accounting Standard by the audit firm on a voluntarybasis commenced since Q2 FY2025, and figures for FY2024 have been restated after revision. • New business CSM is steadily growing through the acquisition of new policies. • CSM balance increased compared to the end of FY24 despite the impact of changes in economic assumptions. （billion yen） 【Breakdown of “Other”】 ・Cancellation approx. (170.0) ・Mortality and morbidity rate approx. (40.0) ・Economic assumptions approx. (70.0) (mainly due to interest rates rise) 5 【Breakdown of “Other”】 ・Economic assumptions approx. (65.0) (mainly due to interest rates rise) ・Interest accretion +12.7
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Yen depreciation Sony Life｜Lapse and Surrender Rate • Although lapse and surrender rates increased from FY22 to FY23 due to rapid yen depreciation, new product launches and premium rate revisions, they have begun to decline since then. • However, increases and decreases in loss components for certain contract groups can impact adjusted net income. 40years JGB 0.44% 0.69% 0.95% 1.39% 1.94% 2.69% 3.31% USD/JPY 108.83 110.71 122.39 133.53 151.41 149.52 148.88 （％） (annualized) 4.5 3.9 4.4 6.7 7.0 6.0 5.3 End of FY19 End of FY20 End of FY21 End of FY22 End of FY23 End of FY24 End of FY25.Q2 6 FY24.1H 3.0% FY25.1H 2.6% Note: Lapse and Surrender Rate is the ratio of the amount of policies that are cancelled or expire, excluding reductions or increases in contract amounts and reinstatements, divided by the amount of policies in force at the beginning of the fiscal year.
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Measures to Strengthen Financial Position • Due to the effects of financial improvement initiatives and the accumulation of new policies, group consolidated ESR was 185%and Sony Life’s non- consolidated ESR was 165% at the end of FY25.Q2, despite interest rates hike from the end of FY25.Q1. 2.3 2.2 2.3 2.3 1.2 1.2 1.2 1.2 198% 189% 184% 185% 187% 168% 163% 165% End of FY23 End of FY24 End of FY25.Q1 End of FY25.Q2 Economic value-based capital Economic value-based risk post-tax Group consolidated ESR Sony Life non-consolidated ESR Group consolidated ESR*1 (Economic value-based Capital / Economic value-based risk post-tax)/ Sony Life non-consolidated ESR (trillion yen) 40years JGB 1.94% 2.69% 3.09% 3.31% 7 *1 ESR is the ratio of economic value-based capital (= economic value-based embedded value + frictional costs) to the amount of the economic value-based risk. ESR is calculated with reference to European Solvency II, ICS, and new economic value-based solvency regulation in Japan for broad management decisions. Note that simplified methods are used for some calculations, and no third-party validation of the calculation process or results is conducted; the same applies to subsequent pages.
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Sony Assurance｜FY25.1H Overview (J-GAAP) • Net premiums written increased YoY, primarily driven by auto insurance. • E.I. loss ratio fell below the same period of the last year, which was significantly impacted by natural disasters, and combined ratio also decreased to 92%. 8 Direct premiums written Combined Ratio (E.I. loss ratio + net expense ratio) 67.1 74.2 83.5 3.6 5.5 8.0 4.9 4.9 5.0 75.6 84.7 96.6 FY23.1H FY24.1H FY25.1H Auto Fire Other 67.0 69.6 67.8 25.8 24.9 24.2 92.8 94.5 92.0 FY23.1H FY24.1H FY25.1H E.I. loss ratio net expense ratio (%) 3.5 pt Impact of natural disasters 3.6 pt （billion yen） 1.7 pt
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Sony Bank｜FY25.1H Overview (foreign currency business) (J-GAAP) • Foreign currency deposit balances decreased slightly compared to the end of FY24 due to profit-taking sales (transfer to yen deposits) against the backdrop of yen depreciation • Although spreads narrowed due to lower U.S. interest rates and foreign currency deposit acquisition campaigns, a certain level of spread was firmly secured Foreign currency deposits at end of period Security-deposit spread 144.1 177.4 190.1 470.4 593.6 546.1 614.6 771.1 736.2 End of FY23 End of FY24 End of FY25.Q2 Ordinary deposits Term deposits 5.6% 6.1% 4.8% 3.5% 4.2% 3.4% 2.1% 1.9% 1.4% FY23 FY24 FY25.1H Security investment yield Deposit yield Security-deposit spread （billion yen） 9
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Sony Bank｜FY25.1H Overview (Yen business) (J-GAAP) • Yen deposit balances steadily expand despite intensifying deposit acquisition competition • While deposit yields rise with policy rate hikes, mortgage loan rates are increased to widen the loan-deposit spread and continue to secure the appropriate spread 1.4 1.5 1.5 2.0 2.1 2.2 3.5 3.6 3.8 End of FY23 End of FY24 End of FY25.Q2 Liquid deposits Term deposits Yen deposits at the end of period Loan-deposit spread 0.95% 0.97% 1.25% 0.12% 0.23% 0.44% 0.83% 0.74% 0.81% FY23 FY24 FY25.1H Loan yield (mortgage loans) Deposit yield Loan-deposit spread (trillion yen) 10
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Adjusted net income FY25 FY25 FY25.1H （Ref.） （billion yen） Initial forecast*1 Revised forecast Actual Progress FY24 Actual*2 (as of August) (as of November) Group consolidated 107.5 98.0 98.0 45.9 47% 61.3 Life insurance business 93.0 84.0 84.0 36.6 44% 47.9 Non-Life insurance business 6.0 6.0 6.0 4.6 78% 3.0 Banking Business 11.0 11.0 11.0 5.8 53% 12.4 Interest rate assumption 2.7% 3.3% 3.4% （40-years JGB） (End of Mar 2025) (Monthly average in Jul 2025) (Monthly average in Oct 2025) \25.0 billion \25.0 billion \50.0 billion \50.0 billion annualised basis annualised basis Dividend amount (year-end) Remain uncanged FY25 Forecast • FY25 Group consolidated adjusted net income forecast of 98.0 billion yen remains unchanged. • FY25 year-end dividend amount of ¥25.0 billion (¥50.0 billion on an annualized basis) also remains unchanged. • FY25 Group consolidated revenue forecast of ¥1 trillion and pre-tax net income forecast of ¥60.0 billion remain unchanged.(IFRS Accounting Standards) *1 The figures differ from those disclosed at "Financial Services Investor Day" held by Sony Group Corporation on May 29, 2025 due to a change in the presented unit from Sony Life non-consolidated to life insurance business. *2 The audits and review on the financial information based on IFRS Accounting Standard by the audit firm on a voluntary basis commenced since Q2 FY2025, and figures for FY2024 have been restated after revision. 11 Sensitivity of adjusted net income 10bp increase in interest rate (estimated) Approx. ¥(0.3) billion per year
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Appendix 12
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Definitions of Adjusted Net Income (after FY22) Sony FG Consolidated Adjusted net income SFGI consolidated net income (IFRS Accounting Standards) － Adjustments for each entity Adjustments for each segment (post-tax) Life insurance business Investment income (net)*1 related to variable insurance and foreign currency translation differences (excluding the equivalent of hedge costs*2) Unrealized gains/losses related to variable insurance within insurance finance expenses (income)*3 and foreign currency translation differences Gains/losses on sales of securities Other one-time gains/losses Non-life insurance business, Banking business, Others One-time gains/losses • We introduced “adjusted net income” as an indicator to measure base earnings growth, excluding market fluctuations and one-time factors from net income 13 *1 Investment income (net) related to variable insurance is financial assets measured at fair value through profit or loss (FVPL), associated with variable life insurance and individual variable annuity contracts. *2 Transaction fees and margin costs required to maintain hedge positions. Includes current accrued interest from bonds designated as measured at fair value through net profits/losses (fair value option (FVO)-designated) based on the interest rate at the beginning of the period. *3 Effect of changes in the value of underlying items of variable life insurance and individual variable annuity contracts and changes in interest rates and other financial risks.
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Reconciliation from Net Income to Adjusted Net Income FY24.1H FY25.1H Pre-tax net income (loss) (IFRS Accounting Standards) 95.9 25.4 Post-tax net income (loss) (IFRS Accounting Standards) 68.4 17.2 Life insurance business related adjustments -20.1 28.6 Investment income (net) related to variable insurance1 and foreign currency translation differences (excluding the equivalent of hedge costs2) 81.5 -286.0 Unrealized gains/losses related to variable insurance within insurance financial gains/losses3 and foreign currency translation differences -108.7 224.4 Gains/losses on sales of securities -0.9 102.1 Other one-time gains/losses - - Tax effects related to the above 7.9 -11.8 Non-life insurance business related adjustments - - Banking business related adjustments - - Other adjustments - - Total adjustments -20.1 28.6 Adjusted post-tax net income (loss) 48.2 45.9 *1 Investment income (net) related to variable insurance is financial assets measured at fair value through net profits/losses, associated with variable life insurance and individual variable annuity contracts. *2 Transaction fees and margin costs required to maintain hedge positions. Includes current accrued interest from bonds designated as measured at fair value through net profits/losses (FVO designated) based on the interest rate at the beginning of the period. *3 Effect of changes in the value of underlying items of variable life insurance and individual variable annuity contracts and changes in interest rates and other financial risks. *4 The audits and review on the financial information based on IFRS Accounting Standard by the audit firm on a voluntary basis commenced since Q2 FY2025, and figures for FY2024 have been restated after revision. (billion yen) 14
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Unit : million yen FY24.Q1 FY24.Q2 (累計／YTD) FY24.Q3 (累計／YTD) FY24.Q4 (累計／YTD) FY25.Q1 FY25.Q2 (累計／YTD) Revenue (IFRS/Consolidated) 226,421 456,740 692,001 925,311 242,622 494,856 Life insurance business 166,634 333,603 502,990 670,323 170,756 344,513 Non-life insurance business 37,978 77,570 118,184 158,299 42,687 88,467 Banking business 19,508 39,714 61,640 86,062 25,730 54,961 Pre-tax net income (loss) (IFRS/Consolidated) 29,976 95,981 142,334 130,526 -34,106 25,403 Life insurance business 25,370 83,035 124,988 112,169 -41,192 11,407 Non-life insurance business 1,898 3,730 4,643 4,435 4,859 6,289 Banking business 3,604 10,545 14,909 16,397 2,765 8,820 Adjusted net income (loss) (Consoliated) 20,056 48,272 68,568 61,337 20,367 45,934 Life insurance business 16,770 39,407 57,137 47,976 15,689 36,696 Non-life insurance business 1,339 2,628 3,277 3,075 3,489 4,655 Banking business 2,422 7,103 10,004 12,413 1,862 5,861 Segment information 15Note: The audits and review on the financial information based on IFRS Accounting Standard by the audit firm on a voluntary basis commenced since Q2 FY2025, and figures for FY2024 have been restated after revision.
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Sony Life｜Pre-tax Net Income breakdown 16 *1: Contractual service margin *2: IACF (Insurance acquisition cash flows): Cash flows from expenses which are directly attributable to acquisition of insurance contracts *3: Overhead expenses that are not directly attributable to fulfilling insurance contracts. Unit : million yen FY24.Q1 FY24.Q2 (累計／YTD) FY24.Q3 (累計／YTD) FY24.Q4 (累計／YTD) FY25.Q1 FY25.Q2 (累計／YTD) Pre-tax net income (loss) 25,619 83,583 125,786 114,619 -40,908 11,903 Insurance service result 41,638 90,555 131,843 168,056 40,637 84,032 Insurance revenue 116,182 233,284 352,039 469,606 120,895 243,720 CSM1 release 39,238 78,863 118,323 150,138 38,778 77,826 Risk adjustment release 6,770 13,695 20,805 28,053 7,800 15,792 Expected claims 28,093 56,682 85,342 114,418 29,283 58,554 Expected administrative expenses for the maintenance of contracts 13,391 27,445 41,870 56,777 15,323 31,250 Recovery of IACF2 28,296 56,639 85,760 118,314 29,907 60,638 Others 391 -41 -62 1,903 -198 -343 Insurance service expenses -74,419 -142,145 -219,609 -301,240 -80,267 -159,198 Incurred claims -28,920 -53,990 -85,384 -113,991 -29,515 -57,007 Administrative expenses for the maintenance of contracts -13,744 -27,950 -42,287 -57,444 -16,029 -32,338 Amortization of IACF2 -28,296 -56,639 -85,760 -118,314 -29,907 -60,638 Loss component -3,143 -2,694 -5,427 -8,565 -4,795 -9,300 Others -314 -870 -749 -2,924 -19 86 Reinsurance expense (income) -125 -583 -587 -309 9 -488 Financial investment result -7,237 10,723 20,630 -14,344 -71,425 -51,998 Net investment returns 254,094 -8,656 509,423 137,973 4,149 261,540 Interest income from debt instruments required to be measured at FVOCI 45,442 90,435 136,289 180,782 44,082 89,147 Financial assets measured at FVPL 125,079 3,162 327,340 10,103 116,509 289,099 Currency exchange differences 92,568 -85,756 70,407 -16,411 -48,071 -3,512 Others -8,995 -16,499 -24,613 -36,501 -108,371 -113,194 Of which, gains/losses on sales of securities 628 938 1,098 -3,928 -102,139 -102,139 Of which, repurchase cost -9,699 -17,792 -26,292 -33,597 -6,997 -12,483 Insurance finance expences (income) -261,353 19,347 -488,854 -152,387 -75,595 -313,598 Interest accreted -47,947 -96,142 -144,603 -193,247 -48,023 -96,454 Effect of changes in the value of underlying items of variable life insurance and individual variable annuity contracts and changes in interest rates and other financial risks -118,262 21,118 -284,288 6,581 -80,543 -228,563 Currency exchange differences -98,531 87,594 -70,009 20,958 49,260 4,117 Others 3,388 6,776 10,046 13,319 3,711 7,302 Reinsurance finance expense (income) 21 32 61 69 20 58 Other result -8,781 -17,695 -26,687 -39,092 -10,120 -20,130 Operating expenses3 -12,836 -25,703 -38,381 -53,549 -14,226 -28,487 Others 4,055 8,008 11,694 14,456 4,106 8,357
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Sony Life｜Balance Sheets 17 Unit : million yen As of Mar 31, 2025 As of Jun 30, 2025 As of Sep 30, 2025 Assets 15,223,119 15,214,213 15,607,081 Yen-denominated bonds (fixed) 6,498,122 6,264,322 6,061,316 Dollar-denominated bonds 1,288,694 1,155,141 1,224,303 Separate accounts 5,083,508 5,264,347 5,557,209 Yen-denominated bonds (variable) 753,863 713,205 690,569 Risk assets 150,271 159,882 169,081 Other assets 1,448,658 1,657,313 1,904,600 Liabilities and net assets 15,223,119 15,214,213 15,607,081 Yen-denominated fixed insurance 4,925,736 4,681,175 4,484,163 Yen repo 290,988 312,608 659,656 Dollar-denominated insurance 1,097,134 1,072,245 1,145,053 Dollar repo 633,816 574,145 400,435 Yen-denominated variable insurance 3,994,399 4,137,823 4,359,614 Portion attributable to policyholders as benefit from investment performance of separate accounts 5,138,819 5,434,450 5,731,964 Portion attributable to company as minimum guarantee / Operating expenses balance -1,144,419 -1,296,626 -1,372,349 CSM, others 2,607,327 2,643,266 2,691,704 Other liabilities 964,213 1,059,613 1,118,735 Net assets 709,501 733,335 747,718Note: The audits and review on the financial information based on IFRS Accounting Standard by the audit firm on a voluntary basis commenced since Q2 FY2025, and figures for FY2024 and Q1 FY2025 have been restated after revision.
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Sony Life｜CSM balance and Comprehensive Equity (IFRS Accounting Standards) 18 Unit : million yen As of Jun 30, 2024 As of Sep 30, 2024 As of Dec 31, 2024 As of Mar 31, 2025 As of Jun 30, 2025 As of Sep 30, 2025 Pre-tax CSM1 (closing) 2,103,319 2,141,819 2,194,086 2,068,513 2,067,445 2,097,692 New business CSM 93,667 186,600 281,078 388,813 75,784 157,379 CSM release -39,238 -78,863 -118,323 -150,138 -38,778 -77,826 Other -38,232 -53,039 -55,792 -257,284 -38,074 -50,373 FX impact 9,665 -6,257 8,694 955 -3,668 -384 Interest accretion 7,026 14,152 21,415 28,869 6,255 12,704 Impact of assumption changes, etc. -54,923 -60,934 -85,903 -287,109 -40,661 -62,693 Unit : million yen As of Jun 30, 2024 As of Sep 30, 2024 As of Dec 31, 2024 As of Mar 31, 2025 As of Jun 30, 2025 As of Sep 30, 2025 IFRS comprehensive equity 2,283,100 2,449,761 2,412,878 2,179,357 2,202,376 2,238,438 Net assets 769,005 907,807 833,307 709,501 733,335 747,718 Post-tax CSM 1,514,095 1,541,954 1,579,570 1,469,855 1,469,040 1,490,720 *1: Reinsurance CSM is not included. *2: The audits and review on the financial information based on IFRS Accounting Standard by the audit firm on a voluntary basis commenced since Q2 FY2025, and figures for FY2024 and Q1 FY2025 have been restated after revision. Note: The audits and review on the financial information based on IFRS Accounting Standard by the audit firm on a voluntary basis commenced since Q2 FY2025, and figures for FY2024 and Q1 FY2025 have been restated after revision.
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Sony Life｜Policies and Sales channels 19 *1: Total amount of protection provided by Sony Life for policyholders. *2: Total of individual life insurance and individual annuities. *1: Total amount of protection provided for new policies sold from the beginning of the fiscal year to the end of each quarter. *2: Total of individual life insurance and individual annuities. Unit : million yen FY24.Q1 FY24.Q2 (累計／YTD) FY24.Q3 (累計／YTD) FY24.Q4 (累計／YTD) FY25.Q1 FY25.Q2 (累計／YTD) New policy amount1,2 2,680,025 5,410,066 8,151,874 11,188,308 2,591,184 5,446,379 Annualized premiums from new policies2 43,938 87,772 131,180 180,840 40,693 84,017 Unit : million yen As of Jun 30, 2024 As of Sep 30, 2024 As of Dec 31, 2024 As of Mar 31, 2025 As of Jun 30, 2025 As of Sep 30, 2025 Policy amount in force1,2 68,253,261 68,798,451 70,958,548 71,974,008 73,184,620 74,808,508 Annualized premiums from policy in force2 1,235,525 1,242,538 1,277,836 1,297,483 1,313,682 1,337,919 Unit : people As of Jun 30, 2024 As of Sep 30, 2024 As of Dec 31, 2024 As of Mar 31, 2025 As of Jun 30, 2025 As of Sep 30, 2025 Number of Lifeplanner sales specialists 5,525 5,567 5,579 5,795 5,816 5,832 Number of Agency supporters 259 260 260 265 299 313
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Sony Assurance｜Transition of KPI 20*1: Earthquake insurance and Compulsory automobile liability insurance are excluded from E.I. loss ratio. Unit : million yen FY24.Q1 FY24.Q2 (累計／YTD) FY24.Q3 (累計／YTD) FY24.Q4 (累計／YTD) FY25.Q1 FY25.Q2 (累計／YTD) Direct premiums written 43,041 84,701 127,717 173,896 48,897 96,618 E.I. loss ratio1 69.3% 69.6% 70.8% 69.7% 62.2% 67.8% Expense ratio 24.5% 24.9% 25.2% 25.4% 24.5% 24.2%
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Sony Bank｜Transition of KPI 21 Unit : million yen, thousand accounts As of Jun 30, 2024 As of Sep 30, 2024 As of Dec 31, 2024 As of Mar 31, 2025 As of Jun 30, 2025 As of Sep 30, 2025 Mortgage loan balance 3,595,208 3,648,342 3,650,864 3,651,762 3,646,394 3,617,289 Yen deposits 3,267,977 3,279,973 3,434,691 3,645,597 3,715,127 3,800,697 Foreign currency deposits 639,773 657,083 673,045 771,160 724,614 736,272 Number of accounts 1,973 2,007 2,045 2,052 2,072 2,097
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Japanese accounting standards (J-GAAP) 22
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Consolidated Financial Highlights (J-GAAP) Ordinary Revenues Consolidated ordinary revenues increased 19.4% YoY to ¥1,532.4 billion, due to an increase in ordinary revenues from the life insurance business, the non-life insurance and the banking businesses. Ordinary Profit/Loss Consolidated ordinary loss was ¥19.3 billion, compared to an ordinary profit of ¥25.6 billion 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. Profit/Loss attributable to owners of the parent Loss attributable to owners of the parent was ¥17.4 billion, compared to the profit of ¥17.8 billion during the same period of the previous fiscal year. (1) Consolidated operating results (billion yen) （％） FY24.1H FY25.1H YoY change Ordinary revenues 1,283.7 1,532.4 +248.6 +19.4 Ordinary profit (loss) 25.6 (19.3) (45.0) － Profit (loss) attributable to owners of the parent 17.8 (17.4) (35.3) － (2) Consolidated financial condition (billion yen) （％） As of Mar 31,2025 As of Sep 30,2025 YoY change Total Assets 23,370.9 24,106.6 +735.7 ＋3.1 Total Net Assets 669.7 648.1 (21.6) -3.2 23
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Financial Highlights by Segment (J-GAAP) FY24.1H FY25.1H YoY change Sony Life Ordinary Revenues 1,135.4 1,369.8 +234.3 +20.6% Ordinary Profit 9.7 (31.7) (41.5) － Sony Assurance Ordinary Revenues 82.4 93.0 +10.6 +12.9% Ordinary Profit 2.8 6.0 +3.2 +111.6％ Sony Bank Ordinary Revenues 25.6 62.3 +2.9 +4.9% Ordinary Profit 14.1 8.0 (6.0) (42.7)％ Consolidated Ordinary Revenues 1,283.7 1,532.4 +248.6 +19.4% Ordinary Profit 25.6 (19.3) (45.0) － (billion yen) Sony Life Ordinary revenues increased 20.6% YoY, to ¥1,369.8 billion, due to increased investment income in separate accounts. Ordinary loss was ¥31.7 billion compared to an ordinary profit of ¥9.7 billion during the same period of the previous fiscal year, mainly due to deteriorated gains/losses on sale of securities in the general account resulting from the sale of bonds for the purpose of rebalancing based on the ALM (asset-liability management) approach. Sony Assurance Ordinary revenues increased 12.9% YoY, to ¥93.0 billion, due to a steady increase in net premiums written centered on mainstay auto insurance. Ordinary profit increased 111.6% YoY, to ¥6.0 billion, due to a decrease in the loss ratio mainly resulting from a decrease in natural disasters. Sony Bank Ordinary revenues increased 4.9% year on year, to ¥62.3 billion and ordinary profit decreased 42.7%, to ¥8.0 billion, due to a decrease in service revenues from mortgage loans and an increase in general and administrative expenses, while there was an increase in interest income such as interest income on loans and interest income and dividends on securities. 24