Directors and Executive Offi cers

As of July 2, 2013 Directors Chairman of the Board Nobuya Suzuki

Directors Akio Negishi Hiroaki Tonooka Yoshinori Ozaki Yoshio Maekawa Keiji Aritomi* Advisor, Yamato Holdings Co., Ltd. Saburo Horiuchi* Certifi ed Public Accountant Yuko Tashima* Attorney at Law Shigehiko Hattori* Chairman of the Board, Shimadzu Corporation Seiichi Ochiai* Professor of Law, Chuo Law School Yoshihide Munekuni* A former Chairman of the Board, Motor Co., Ltd. Executive Offi cers Nobuya Suzuki**

President Akio Negishi**

Deputy Presidents Hiroaki Tonooka Yoshinori Ozaki

Representative Executive Kenji Matsuo*** Offi cer

Senior Managing Kiyotaka Fuke Chief Executive, Group Marketing Executive Offi cers Ichiro Wakasa Koichiro Takahashi Chief Executive, Individual Marketing Hirotoshi Endo Chief Executive, General Agent Marketing Yasushi Wada

Managing Executive Hiroshi Tokuoka Offi cers Masahiro Kijima Katsunari Maeda Chief General Manager, Tokyo Marketing Headquarters Toshihiko Yamashita Chief Executive, Investment Tatsuo Ogoshi Takashi Ito Chief General Manager, Nagoya Marketing Headquarters Hiromasa Suzuki Masahiro Ifuku Kikuo Asano

Executive Offi cers Kenji Kojo General Manager, Auditing Department Akio Sakai Chief General Manager, Osaka Marketing Headquarters Masahiko Sagara General Manager, Group Market Planning & Research Department Shigeru Kawamoto Kazuhito Nakakuma General Manager, Fukuoka Regional Offi ce Tadashi Onishi General Manager, Human Resources Department Masao Aratani General Manager, Investment Planning & Research Department Shinya Makino General Manager, Product Development Department

* Outside Director ** Representative Executive Offi cer *** Mr. Kenji Matsuo retired from the post of Representative Executive Offi cer as of July 19, 2013.

Meiji Yasuda Life Insurance Company 43 Company Organization

As of July 2, 2013

BOARD OF REPRESENTATIVE REPRESENTATIVE MEMBERS MEMBERS NOMINATING COMMITTEE

Offi ce of Representative Members BOARD OF COUNCILLORS Nominating Committee

NOMINATING COMMITTEE BOARD OF DIRECTORS

AUDIT COMMITTEE CHIEF ACTUARY OUTSIDE DIRECTORS

CHAIRMAN Offi ce of Audit Committee

COMPENSATION COMMITTEE

MANAGEMENT COUNCIL CSR PROMOTION COUNCIL PRESIDENT

COMPLIANCE PROMOTION ADVISORY COUNCIL EXECUTIVE INVESTMENT COUNCIL OFFICERS CUSTOMER SATISFACTION ADVISORY COUNCIL

CLAIM PAYMENT ASSESSMENT COUNCIL

The ”Company-with-Committees” System Meiji Yasuda Life has adopted the “Company-with- management by increasing the number of outside Committees” system to strengthen its management directors and placing them in the majority. supervision functions and increase transparency. The Nominating, Audit, and Compensation The system enhances corporate governance by Committees are each comprised of a majority of making a clear institutional separation between outside directors selected by a vote of the Board management supervision functions and executive of Directors. functions. It also promotes greater transparency in

Nominating Committee Audit Committee Compensation Committee

Yuko Tashima* Saburo Horiuchi* Keiji Aritomi* Shigehiko Hattori* Seiichi Ochiai* Saburo Horiuchi* Seiichi Ochiai* Keiji Aritomi* Yuko Tashima* Nobuya Suzuki Yoshihide Munekuni* Nobuya Suzuki Chairman of the Committee Akio Negishi Yoshio Maekawa Akio Negishi * Outside Director

44 Meiji Yasuda Life Insurance Company Auditing Department

Tokyo Marketing Headquarters Investment Planning & Claim Payment Audit Offi ce Research Department Marketing Planning & Nagoya Marketing Headquarters Corporate Finance & Research Department Personal Loan Department Osaka Marketing Headquarters Customer Communication Securities Investment Planning & Development Offi ce 74 Regional Offi ces Department Field Personnel Department Investment Separate Account Agency Department Division Investment Department Group Market Planning & Individual Research Department Individual Property Insurance Real Estate Investment Insurance Marketing Department Marketing Offi ce Product Development Department Division Credit Analysis & Investment Field Education Department Risk Management Department International Business Department

Practical Sales Research Investment Administration Corporate Communications & Development Offi ce Department Department

General Corporate Finance Human Resources Department Agent General Agent Channel Development Department Marketing Department Diversity Management Offi ce Division Customer Service Planning & Corporate Market Administration Department Profi t Management & Actuarial Development Department 2 Policy Administration Department Pension Consulting Centers Offi ce Information Systems Department Underwriting Department Group Financial Institution General Affairs Department Marketing Marketing & Promotion Division Medical Department Offi ce Osaka General Affairs Department Public Market Development Policy Service Department Department Secretarial Department Claims Administration Group Service Support Department Affi liated Companies Department Department Claim Payment Assessment Corporate Planning & Research 7 Corporate Marketing Departments Offi ce Department

Group Insurance 10 Public Sector Marketing Departments Customer Relations Control Administration Department Department

Association Marketing Department Claim Payment Assessment Customer Service Center Offi ce

Group Pension Administration Communication Center Department Compliance Control Department

Information Asset Security Management Offi ce

Business Improvement Promotion Offi ce

Risk Management Control Department

Legal Affairs Department

Meiji Yasuda Life Insurance Company 45 Domestic Subsidiaries and Affi liates

As of March 31, 2013

General Insurance Business Meiji Yasuda General Insurance Co., Ltd.

Meiji Yasuda Insurance Service Company, Limited Insurance-Related Services MST Insurance Service Co., Ltd.

Meiji Yasuda Asset Management Company Ltd. Yasuda Enterprise Development Co., Ltd. The Asset Brains Co., Ltd. Defi ned Contribution Plan Consulting of Japan Co., Ltd. Investment- and Finance-Related Meiji Capital 8th Investment Partnership Business Meiji Capital 9th Investment Partnership THE YASUDA ENTERPRISE DEVELOPMENT III, LIMITED PARTNERSHIP THE YASUDA ENTERPRISE DEVELOPMENT RB I, LIMITED PARTNERSHIP THE YASUDA ENTERPRISE DEVELOPMENT IV, LIMITED PARTNERSHIP

Meiji Yasuda Real Estate Management Company Limited Building Maintenance Services KSP COMMUNITY, Inc.

Diamond Athletics, Ltd. Research, Development, Meiji Yasuda Institute of Life and Wellness, Inc. Medical and Wellness Services Sunvenus Tachikawa Company Limited

Meiji Yasuda Life Foundation of Health and Welfare Foundations Meiji Yasuda Mental Health Foundation The Meiji Yasuda Cultural Foundation

Meiji Yasuda Life Planning Center Company, Limited Meiji Yasuda System Technology Company Limited Others MYJ Co., Ltd. BTS Company, Limited Japan Pension Service Co., Ltd.

46 Meiji Yasuda Life Insurance Company International Directory Meiji Yasuda Life Insurance Company As of March 31, 2013

Management Philosophy London Warsaw As a pioneer in the life insurance industry, we commit ourselves to being a company that works to the spirit Wroclaw Frankfurt New York of mutual aid and endeavor to become “a company placing utmost value on our customers”; provides them Beijing Seoul Los Angeles Tokyo with high-quality, comprehensive insurance services, in which life insurance plays a core role; and delivers Shanghai Honolulu assured ease of mind and wealth. Hong Kong

Meiji Yasuda Life Insurance Company (Meiji Yasuda Jakarta Life) was founded on July 9, 1881, as Japan’s fi rst life insurance company. Today, Meiji Yasuda Life’s 28,925 sales personnel* provide services that satis- fy customers through a nationwide network. Meiji Yasuda Life has established a position as market leader in the group life insurance sector, where we HEAD OFFICE meet the diverse needs of customers. More than Tokyo 1-1, 2-chome, Chiyoda-ku, Tokyo 100-0005, Japan 37,500 employees (including sales personnel) con- Phone:+81-3-3283-8293 Fax:+81-3-3215-8123 stantly strive to provide optimal products and high- EUROPE quality services through the headquarters in Tokyo, London Frankfurt 74 regional offi ces, 18 group marketing depart- Meiji Yasuda Europe Limited Meiji Yasuda Life Insurance Company 125 Finsbury Pavement, London EC2A 1NQ, U.K. Frankfurt Representative Offi ce ments, and 966 agency offi ces** in accordance with Phone:+44-20-7448-8800 Fax:+44-20-7448-8819 Goethestrasse 7, 60313 Frankfurt am Main, Germany Phone:+49-69-748000 Fax:+49-69-748021 the management philosophy. Overseas, we main- Wroclaw tain subsidiaries, affi liates and offi ces in 12 cities** TU Europa S.A.* Warsaw ul. 62, 53-413 , Poland TUiR Warta S.A.* around the world. At the end of fi scal 2012, ul. Chmielna 85/87, 00-805 Warsaw, Poland Meiji Yasuda Life had life insurance in force of ASIA ¥207,080 billion (US$2,201 billion) and total assets Hong Kong Beijing Meiji Yasuda Asia Limited Meiji Yasuda Life Insurance Company of ¥33,000 billion (US$350 billion). Unit 2, 18/F., Tower 1, Admiralty Centre, Akio Negishi Nobuya Suzuki Beijing Representative Offi ce * As of March 31, 2013 ** As of April 1, 2013 18 Harcourt Road, Admiralty, Hong Kong, China Room 6003, 6th Floor, Changfugong Offi ce Building, President Chairman of the Board Phone:+852-2524-7021 Fax:+852-2868-4419 26 Jianguomen Wai Avenue, Chaoyang District, Beijing 100022, China Phone:+86-10-6513-9815 Fax:+86-10-6513-9818 CONTENTS Seoul Meiji Yasuda Life Insurance Company Shanghai Financial Highlights ...... 1 Statement of Operations and Surplus ...... 22 Seoul Representative Offi ce Founder Meiji Yasuda Life Insurance Co., Ltd.* A Message from the Management ...... 2 Appropriation of Surplus...... 23 The Seoul Shinmun Daily (Korea Press Center) 21F, Building A, Oriental Financial Plaza 1168 Century Avenue, Bldg., 9th Floor, 124 Sejong-daero, Jung-gu, Pudong New District, Shanghai 200122, China Meiji Yasuda New Development Plan ...... 4 Statement of Changes in Net Assets ...... 24 Seoul 100-745, Korea Phone:+82-2-723-9111 Fax:+82-2-723-6489 Jakarta Fiscal 2012 Highlights ...... 6 Notes to Financial Statements ...... 27 PT Avrist Assurance* Our Overseas Insurance Initiatives ...... 8 Supplementary Financial Information ...... 34 Gedung Bank Panin Senayan Lt. 3, 7, 8 Jl. Jenderal Sudirman, Jakarta 10270, Indonesia Business Activities ...... 10 Consolidated Basis Overview of Financial Results Balance Sheet ...... 38 THE AMERICAS Principal Indicators of Profi tability and Financial Soundness . 13 Statement of Operations and Surplus ...... 39 New York Los Angeles Meiji Yasuda America Incorporated Pacifi c Guardian Life Insurance Company, Limited European Embedded Value ...... 14 Statement of Comprehensive Income ...... 40 Meiji Yasuda Realty USA Incorporated Southern California Offi ce Risk Management and Compliance Statement of Changes in Net Assets ...... 40 780 Third Avenue, 42nd Floor, 18545 S. Western Avenue Gardena, California 90248, U.S.A...... New York, New York 10017, U.S.A. Phone:+1-714-784-7301 Fax:+1-714-939-7901 Risk Management Structure 15 Statement of Cash Flows 42 Phone:+1-212-332-4900 Fax:+1-212-332-4960 Pursuing Thorough Compliance ...... 17 Directors and Executive Offi cers ...... 43 Meiji Yasuda America Incorporated Honolulu Financial Section ...... 19 Company Organization ...... 44 Los Angeles Branch Pacifi c Guardian Life Insurance Company, Limited 865 South Figueroa Street, Suite 2311, Non-Consolidated Basis Domestic Subsidiaries and Affi liates ...... 46 1440 Kapiolani Boulevard, Suite 1700, Los Angeles, California 90017, U.S.A. Honolulu, Hawaii 96814, U.S.A. Phone:+1-213-624-9200 Fax:+1-213-624-0080 Balance Sheet ...... 20 International Directory ...... 47 Phone:+1-808-955-2236 Fax:+1-808-942-1290 * Affi liate

Meiji Yasuda Life Insurance Company 47