Status of Stock Holdings

Supplementary Materials Status of Stock Holdings I. Standards and ways of thinking by category in investments The Group holds investment stocks for the purpose of pure investment in order to reap earnings by an increase in equity value and by receiving dividends and so forth. In addition, the Group holds investment stocks for purposes other than pure investment purposes (hereinafter “non-pure investment stocks”). The purposes of holding non-pure investment stocks are to maintain and to expand long-term, stable business relationships, to maintain and to strengthen business partnerships, and to reap medium- to long-term earnings by an increase in equity value and by receiving dividends and so forth. II. Holdings stocks on Taiyo Life Insurance Company Of the Company and its consolidated subsidiaries, Taiyo Life is the consolidated subsidiary with the largest balance of investment stock. The status of Taiyo Life’s stock holding is as follows: 1. Non-pure investment stocks a. Policies to hold shares, the rationality to hold shares, verification contents at the Board of Directors meetings about the appropriateness to hold individual companies Every year, the boards of directors of the Company and Taiyo Life Insurance Company shall verify the propriety of holding individual non-pure investment stocks by concretely examining the adequacy of the holdings, whether the benefits and risks are commensurate with the capital costs, and other factors. b. The number of stocks and the amounts on Balance Sheets Total of balance sheet The number of stocks amount (¥ millions) Unlisted stocks 5 ¥ 2,871 Stocks other than unlisted stocks 36 263,292 (Stocks with increased number of shares in this fiscal year) Total of acquisition costs related to the increase The reasons for The number of stocks in the number of shares increasing the number of shares (¥ millions) Unlisted stocks 0 ¥ — For additional purchase as the purpose of expectation of the quantitative effectiveness to hold the Stocks other than unlisted stocks 2 3,611 stocks by further enhancement with the long-term and stable business relationships (Stocks with decreased number of shares in this fiscal year) Total of sale price related to the decrease The number of stocks in the number of shares (¥millions) Unlisted stocks 0 ¥ — Stocks other than unlisted stocks 1 644 82 T&D Holdings INTEGRATED REPORT 2019 c. The information about the number of the stocks and balance sheet amount for Specified Investment Shares and Regarded as Holding Shares Specified Investment Shares Year ended Year ended Whether the counterpart March 31, 2018 March 31, 2019 Holding purposes, quantitative effects to hold stocks, company holds the Stocks The number of shares and reasons to increase the number of stocks. Company’s share Y=Yes/N=No Balance sheet amount ¥millions The purpose holding the stocks is to maintain and expand long-term and stable business 5,862,032 5,862,032 relationships, and to reap medium- to long-term earnings by an increase in equity value and by receiving dividends and so forth. The figures on the effect of holdings have not been Keio Corporation Y disclosed as it contains the transaction information to the counterpart company. It’s been ¥ 26,642 ¥ 41,913 quantitatively periodically examined whether the effectiveness and risks to hold stocks have been commensurate with the capital costs. The purpose holding the stocks is to maintain and expand long-term and stable business 7,411,520 7,411,520 relationships, and to reap medium- to long-term earnings by an increase in equity value and by receiving dividends and so forth. The figures on the effect of holdings have not been SHIMADZU CORPORATION Y disclosed as it contains the transaction information to the counterpart company. It’s been 22,175 23,716 quantitatively periodically examined whether the effectiveness and risks to hold stocks have been commensurate with the capital costs. The purpose holding the stocks is to maintain and expand long-term and stable business 8,096,575 8,096,575 relationships, and to reap medium- to long-term earnings by an increase in equity value and by receiving dividends and so forth. The figures on the effect of holdings have not been Mitsui Fudosan Co., Ltd. Y disclosed as it contains the transaction information to the counterpart company. It’s been 20,901 22,528 quantitatively periodically examined whether the effectiveness and risks to hold stocks have been commensurate with the capital costs. The purpose holding the stocks is to maintain and expand long-term and stable business 14,350,000 14,350,000 relationships, and to reap medium- to long-term earnings by an increase in equity value and by receiving dividends and so forth. The figures on the effect of holdings have not been Mitsubishi Electric Corporation Y disclosed as it contains the transaction information to the counterpart company. It’s been 24,416 20,412 quantitatively periodically examined whether the effectiveness and risks to hold stocks have been commensurate with the capital costs. The purpose holding the stocks is to maintain and expand long-term and stable business relationships, and to reap medium- to long-term earnings by an increase in equity value and 8,566,559 9,566,559 by receiving dividends and so forth. The figures on the effect of holdings have not been disclosed as it contains the transaction information to the counterpart company. It’s been Tokyu Corporation quantitatively periodically examined whether the effectiveness and risks to hold stocks have Y been commensurate with the capital costs. For the expectation to receive high quantitative effect of holding benefits through the 14,203 18,492 reinforcement with the long-term and stable business relationships, the number of stocks has been increased. The purpose holding the stocks is to maintain and expand long-term and stable business 31,140,000 31,140,000 relationships, and to reap medium- to long-term earnings by an increase in equity value and by receiving dividends and so forth. The figures on the effect of holdings have not been Daiwa Securities Group Inc. Y disclosed as it contains the transaction information to the counterpart company. It’s been 21,134 16,784 quantitatively periodically examined whether the effectiveness and risks to hold stocks have been commensurate with the capital costs. The purpose holding the stocks is to maintain and expand long-term and stable business 7,700,000 7,700,000 relationships, and to reap medium- to long-term earnings by an increase in equity value and by receiving dividends and so forth. The figures on the effect of holdings have not been Mitsubishi Estate Co., Ltd. Y disclosed as it contains the transaction information to the counterpart company. It’s been 13,848 15,442 quantitatively periodically examined whether the effectiveness and risks to hold stocks have been commensurate with the capital costs. The purpose holding the stocks is to maintain and expand long-term and stable business 18,838,372 18,838,372 relationships, and to reap medium- to long-term earnings by an increase in equity value and Mitsubishi Chemical Holdings by receiving dividends and so forth. The figures on the effect of holdings have not been N Corporation disclosed as it contains the transaction information to the counterpart company. It’s been *notice1 19,412 14,682 quantitatively periodically examined whether the effectiveness and risks to hold stocks have been commensurate with the capital costs. The purpose holding the stocks is to maintain and expand long-term and stable business 17,798,316 3,559,663 relationships, and to reap medium- to long-term earnings by an increase in equity value and by receiving dividends and so forth. The figures on the effect of holdings have not been disclosed as it contains the transaction information to the counterpart company. It’s been Tsubakimoto Chain Co. Y quantitatively periodically examined whether the effectiveness and risks to hold stocks have been commensurate with the capital costs. 15,413 14,060 Due to the stock integration, the number of the stocks has been decreased. So there is virtually no change in the number of shares. The purpose holding the stocks is to maintain and expand long-term and stable business relationships, and to reap medium- to long-term earnings by an increase in equity value and 7,160,800 8,160,800 by receiving dividends and so forth. The figures on the effect of holdings have not been disclosed as it contains the transaction information to the counterpart company. It’s been MITSUI & CO., LTD. quantitatively periodically examined whether the effectiveness and risks to hold stocks have Y been commensurate with the capital costs. For the expectation to receive high quantitative effect of holding benefits through the 13,050 14,024 reinforcement with the long-term and stable business relationships, the number of stocks has been increased. The purpose holding the stocks is to maintain and expand long-term and stable business 2,661,820 2,661,820 relationships, and to reap medium- to long-term earnings by an increase in equity value and by receiving dividends and so forth. The figures on the effect of holdings have not been N Sompo Holdings, Inc. disclosed as it contains the transaction information to the counterpart company. It’s been *notice2 11,397 10,908 quantitatively periodically examined whether the effectiveness and risks to hold stocks have been commensurate with the capital costs. The purpose holding the stocks is to maintain and expand long-term and stable business 15,220,718 15,220,718 relationships, and to reap medium- to long-term earnings by an increase in equity value and Mitsubishi UFJ Financial by receiving dividends and so forth.

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