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Company Information
Company History
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67
68
Employee Highlights
69
Organization
70
Business Structure
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73
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Outline of Business
Life insurance business
a. Underwriting insurance based on life insurance business licenses See p. 24, 25 and 42 for
details regarding main insurance products.
b. Asset management
Assets, such as monies received as premiums, are mainly invested in the following:
1) Loans
Call loans and loans extended to corporations and individuals
2) Securities investment
Investment in securities (including foreign securities) and extension of loans for
investment in securities
3) Real estate investment
Investment in real estate, including office buildings
Auxiliary and other business
a. Acting as a proxy for other insurance companies and other financial institutions
(such as an agent or proxy for the insurance-related business of Nissay Dowa General
Insurance)
b. Provision of credit guarantees
c. Private placement of securities
d. Public bond dealing
e. Sales of investment securities and investment trust beneficiary securities
f. Management and administration of defined contribution pension plans
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COMPANY HISTORY
Nippon Life was founded as Nippon Life Assurance Co., Inc. in July 1889, and in 1891 the name was changed
to Nippon Life Assurance Co., Ltd. When the Company was founded, the first premium table based on
Japanese mortality statistics was created. At the same time, Nippon Life decided to offer profit dividends to
policyholders, which was not a common practice in the life insurance industry at the time. As a life insurance company, Nippon Life was first to embody the spirit of mutual aid and was the first in the industry to
pay policyholder dividends after its first major closing of books in 1898. After World War II, the Company
was reborn as Nippon Life Insurance Company in 1947, striving ever since to realize mutual aid and cooperative prosperity as a mutual company.
Headquarters (former main building)
(19021959)
History
4 Company Information
1889
1891
1898
1899
1902
1924
1931
1940
1942
1945
1947
1950
1959
1963
1964
1973
1975
1979
1981
1982
1984
1985
1987
1988
1989
1991
1992
1993
1994
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1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
250 Billion
3
Fund Contributions to Nippon Life
Amount
(Billions of Yen)
Fund contribution
(Percentage)
100
100
50
40.00%
40.00
20.00
Notes: 1. Nissay Fund Special Purpose Company issues special corporate bonds, backed by claims on the fund; issuance proceeds are used to purchase claims on the fund. Nippon Life
has no specified investments in the Nissay Fund Special Purpose Company.
2. Nippon Life 2005 Fund Special Purpose Company issues special corporate bonds, backed by claims on the fund; issuance proceeds are used to purchase claims on the fund.
Nippon Life has no specified investments in the Nippon Life 2005 Fund Special Purpose Company.
3. Nippon Life 2005 Fund Global Special Purpose Company issues special corporate bonds, backed by claims on the fund; issuance proceeds are used to purchase claims on the
fund. Nippon Life has no specified investments in the Nippon Life 2005 Fund Global Special Purpose Company.
4. Fund contributors are the three above-mentioned entities.
2005/8
Offered fund 2005
150
2002/9
External procurement
4 Company Information
Fund Redemption
2000/9
Offered fund 2000
180
1999/7
Offered fund 1999
120
1997/7
50
50
50
50
50
50
Reserve for redemption of
foundation funds (kikin)<2002>
Retained
50
50
50
50
Transfer
Reserves for
fund redemption*3
Transfer
Reserves for
fund redemption
30
20
50
150
49
50
*1
50
Reserves
for fund
redemption
Transfer*2
900
1996/7 1997/7 1998/7 1999/7 2000/7 2001/7 2002/7 2003/7 2004/7 2005/7 2006/7 2007/7 2008/7 2009/7 2010/7 2011/7
Notes: 1. As stipulated by the Insurance Business Law, minimum fund amount is 1 billion.
2. Article 56 of the Insurance Business Law: when redeeming the fund, an amount equivalent to the redemption amount must be accumulated as reserves for
repaying the fund. Reserve for fund redemption is a voluntary reserve and it is transferred to reserve for redemption of foundation funds (kikin) when the foundation funds (kikin) is redeemed.
3. The redemption of 150 billion of reserve for fund redemption expected to occur between fiscal 1999 and fiscal 2001 was completed earlier than expected.
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Chairman
Ikuo Uno
President
Kunie Okamoto
Director and
Senior Managing
Executive Officer
Tetsuro Taki
Director and
Executive Vice President
Eitaro Waki
Director and
Senior Managing
Executive Officer
Keizo Tsutsui
4 Company Information
Director and
Senior Managing
Executive Officer
Takashi Minagawa
Vice Chairman
Mitsuhiro Ishibashi
Director and
Managing Executive
Officer
Kiyoshi Ujihara
Director and
Managing Executive
Officer
Chiaki Hamaguchi
Director and
Managing Executive
Officer
Kenichi Kobayashi
Director and
Managing Executive
Officer
Yoichi Fujita
Director and
Managing Executive
Officer
Yoshinobu Tsutsui
Officers
Directors
Yoshihisa Akiyama
Akito Arima
Shin Ushijima
Senior Managing Executive
Officers
Sadao Kato
Shunsuke Wada
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Director and
Managing Executive
Officer
Yoshikazu Takeda
Director and
Managing Executive
Officer
Takeshi Furuichi
Auditors
Managing Executive
Officers
Shigemi Kanamori
Executive Officers
Hiroshi Ishimura
Koji Aiba
Akira Mihayashi
Hiroaki Shodono
Yasushi Ozaki
Hiroshi Manabe
Yasuomi Matsuyama
Makoto Yanagihara
Yoshiki Sugiyama
Jyunichi Noro
Kazuo Kobayashi
Masami Kuroda
Taeko Yazaki
Koji Miyazaki
(Senior Corporate Auditor)
Atsuhiko Nozaki
(Senior Corporate Auditor)
Takashi Imai
Keisuke Kitajima
Kantaro Toyoizumi
Yukimasa Okuno
(as of July 3, 2007)
EMPLOYEE HIGHLIGHTS
Number of Employees by Job Function
2007
11,149
4,701
6,448
3,959
3,284
2,326
51,608
3,047
48,561
2,096
1,936
160
49,353
952
48,401
159
62,757
7,748
55,009
2006
10,754
4,471
6,283
3,823
3,221
2,329
55,683
3,289
52,394
2,229
2,050
179
53,336
1,121
52,215
118
66,437
7,760
58,677
2005
10,647
4,457
6,190
3,856
3,246
2,436
56,469
3,593
52,876
2,329
2,136
193
54,064
1,381
52,683
76
67,116
8,050
59,066
2007
1,006
384
622
209
373
16,653
157
16,496
16,576
80
16,496
77
17,659
541
17,118
2006
2005
863
294
569
167
254
18,720
153
18,567
18,648
81
18,567
72
19,583
447
19,136
882
255
627
137
265
18,760
203
18,557
18,729
172
18,557
31
19,642
458
19,184
As of March 31
Total non-sales personnel
Male
Female
Managerial track
Administrative clerk
Clerk
Total sales representatives
Male
Female
Sales management positions
Male
Female
Sales representatives
Male
Female
Sales management track
Total
Male
Female
2007
40.8
42.6
39.4
40.8
43.6
33.8
46.3
44.7
46.3
45.5
45.0
51.5
46.3
46.7
46.3
27.9
45.3
43.4
45.5
2006
40.7
42.6
39.3
40.9
43.4
34.1
45.5
44.4
45.5
45.1
44.6
51.7
45.5
45.7
45.5
29.9
44.7
43.4
44.9
2005
40.6
42.4
39.2
40.7
43.2
34.0
45.1
44.1
45.1
44.9
44.3
51.1
45.1
44.3
45.1
32.8
44.3
43.1
44.5
2007
17.0
16.6
17.2
18.6
24.2
12.5
9.4
18.9
8.8
22.8
22.8
22.5
8.9
13.7
8.8
2.9
10.8
17.5
9.8
2006
17.3
17.1
17.5
18.8
24.1
12.9
8.8
18.3
8.2
22.3
22.3
22.4
8.3
12.5
8.2
3.5
10.2
17.6
9.2
2005
17.6
17.1
17.9
18.6
23.9
13.0
8.7
17.3
8.1
21.8
21.9
21.0
8.2
10.9
8.1
6.1
10.1
17.2
9.2
4 Company Information
Number of Employees
(As of March 31)
Notes: 1. All figures were calculated on March 31 of each fiscal year, and rounded to the nearest decimal place.
2. Non-sales personnel is the total number of non-sales representatives, medical staff, policy managers, labor service staff, special contract employees, conservation affairs
advisors and non managerial employees.
3. After fiscal 2003, the number of sales representatives includes employees that were registered as life insurance solicitors prior to employment. (1,519 employees as of March
31, 2007, 1,753 employees as of March 31, 2006 and 1,943 employees as of March 31, 2005.)
4. The number of sales management track includes sales general manager trainees.
For March
Non-sales personnel
2007
380
2006
385
2005
390
Notes: 1. The average monthly salary is the tax-inclusive standard salary in March, excluding bonuses and overtime pay.
2. Non-sales personnel is the total number of non-sales representatives, medical
staff, policy managers, labor service staff, special contract employees, conservation affairs advisors and non managerial employees.
2007
254
2006
250
2005
252
Notes: 1. The average monthly salary for each fiscal year is based on tax-inclusive standard salary and excludes bonuses and overtime pay.
2. Excludes deputy subbranch managers, training managers, special subbranch advisors, training center trainers, training assistant managers, SA office trainers, sales
management, sales management track, sales general manager trainees, senior
planning partners, specially commended sales representatives, specially qualified
sales representatives, sales advisors, life agents, sales representative trainees, life
insurance agency, SA staff, service support staff and part-time sales staff.
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ORGANIZATION
(23)
(10)
(49)
(16)
(10) *1
(7) *3
(6)
(3)
(22)
(3)
(5)
Credit Dept.
Securities Operations Dept.
Finance Planning & Management Dept.
Corporate Finance Structuring Office
Consumer Loan Planning Office
(9) *4
*Notes with additional information are provided at the top of the adjacent page.
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Auditor
Auditors Office
Board of Trustees
Agency
Management
Sector
Corporate &
Worksite
Sales Sector
International
Sector
Corporate Marketing
Sector
Customer
4 Company Information
[Life Plaza]
Meeting of Representatives
(5)
Board of Directors
[Life Plaza]
Operations Oversight
Committee
(11)
Branch
Representative Nomination
Committee Secretariat
Operations Oversight
Committee Secretariat
(17)
[Life Plaza]
Auditing
Dept.
(27)
President
Branch
Representative Nomination
Committee
Secretarial Dept.
Corporate Planning Dept.
Public Affairs Dept.
CSR Promotion Office
Public & Investors Relations Dept.
Planning and Research Dept.
Affiliated Business Dept.
Actuarial Dept.
(Chief Actuary)
Personnel Dept.
Human Resource Development Office
General Affairs Dept.
Health Management Dept.
Legal Office
Compliance Dept.
Sound Business Promotion Office
Information Management Office
Risk Management Department
Administrative Risk Management Dept.
System Risk Management Dept.
Investment Risk Management Dept.
Medical Information Dept.
Board of Auditors
Headquarters Organization
(Unit: Number)
As of April 1
Regional Headquarters
Metropolitan Area Development Office
Agency Marketing Headquarters
Corporate & Worksite Sales Headquarters
Head Office Corporate Marketing Departments
Departments
Offices
Sections (known as Groups)
Agency Relations Departments, Financial Institution Sales Planning Departments
Corporate Relations Management Departments
Corporate Sales Departments
Public Sector Marketing Dept.
Corporate and Collective Marketing Departments
Corporate & Worksite Sales Offices
Corporate Market Development Departments
Corporate Finance Departments
2007
3
3
1
1
7
42
38
86
11
22
6
3
3
2
2
9
2006
3
1
1
7
40
30
85
12
22
6
3
3
2
2
9
2007
110
11
1,436
220
5
7,282
2006
117
11
1,498
206
4
6,925
2005
3
1
1
7
39
29
88
12
22
6
3
3
2
4 Company Information
Branch Organization
(Unit: Number)
As of April 1
Branches
Branch Offices
Sales Offices
Sales Suboffices
Overseas Representative Offices
Agencies
2005
118
12
1,560
197
4
6,364
71
Insurance-related
operations
8 companies:
3 subsidiaries and
5 affiliates
Subsidiaries in asset management-related operations engage in investment advisory services, investment trust
consignment services, trust and custody services, venture capital, leasing, credit guarantee services,
building management, overseas real estate investment, and financing agency services.
4 Company Information
Investment advisory
services
1 company:
1 subsidiary
Trust banking
The Master Trust Bank of Japan, Ltd. (Trust and custody services)
1 company:
1 affiliate
Investment financing
services
7 companies:
7 subsidiaries
Real estate-related
businesses
13 companies:
5 subsidiaries
8 affiliates
Overseas
asset management
services
11 companies:
9 subsidiaries
2 affiliates
NLI International PLC <England> (Loans and investment on behalf of Nippon Life)
NLI International Inc. <U.S.A.> (Loans and investment on behalf of Nippon Life)
NLI Investments Europe Limited <England> (Investment advisory services)
Nissay Deutsche Asset Management Asia Limited <Singapore> (Investment advisory services)
Subsidiaries in general affairs-related operations engage in temporary staffing services, mediation and sales of goods to
Nippon Life and its employees, printing and bookbinding services, software development, information processing
services, system administration and management, receiving agency, as well as survey and research services.
General-affairs-related
operations
NISSAY NEW CREATION CO., LTD. (Printing and book binding services)
5 companies:
3 subsidiaries and
2 affiliates
Accounting-related
operations
3 companies:
2 subsidiaries and
1 affiliate
Other operations
4 companies:
2 subsidiaries and
2 affiliates
Notes: 1. Indicates consolidated subsidiaries and marks indicate affiliates accounted for by the equity method
2. Major company names shown
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Name
Country
Main business
Issued capital
(millions)
Percentage of
voting rights
Percentage of
held by
voting rights Nippon Life
held by
subsidiary
Nippon Life
or affiliate
(percent)
(percent)
Consolidated Subsidiaries
Japan
220
45.00%
55.00%
Japan
Leasing services
3,099
51.21
2.45
Japan
3,000
100.00
Japan
10,000
90.00
Japan
4,000
75.00
3.00
U.S.A.
Insurance business
$3.6
96.96
U.S.A.
$310
100.00
U.S.A.
$250
100.00
U.S.A.
$290
100.00
U.S.A.
Mortgage loan
$100
100.00
U.S.A.
Mortgage loan
$100
100.00
Japan
200
18.00
9.00
Japan
Non-life insurance
47,328
36.47
Japan
10,000
33.50
Japan
6,000
49.00
1.00
Thailand
Insurance business
1,000 Baht
25.00
Philippines
Insurance business
500 Peso
50.00
China
Insurance business
300 RMB
50.00
4 Company Information
Affiliates
Notes: 1. The Companys percentage of voting rights shows the number of voting rights held by Nippon Life divided by the total number of voting rights.
2. The percentage of voting rights held by Nippon Life subsidiary and affiliate companies shows the number of voting rights held by Nippon Lifes subsidiary or affiliate company
divided by the total number of voting rights. Major subsidiaries and affiliates are shown.
October 9, 2006
Acquisition of additional shares of Bangkok Life Assurance Limited, giving Nippon Life
shareholder voting rights of 25%.
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Nissay Asset
Management
Corporation
Nissay Information
Technology
Information
technology
Asset
management
Nissay Dowa
General Insurance
Non-life insurance
4 Company Information
Taking advantage of the direction and position of the comprehensive insurance strategy, which is advancing
along with Nippon Life since their merger in 2001, Nissay Dowa General Insurance recorded 326.3 billion in
net premiums written in fiscal 2006, an increase of 58.0 billion over the past six years since the merger. To
realize CSR-based management, the management target of the medium-term business plan, we are continuing
to upgrade and improve services. Above all, we would like to express our sincere regret over the considerable
inconvenience and concern we have caused policyholders and related parties due to the insufficient payment
of insurance claims and benefits. With our entire staff fully united, we will work to improve the quality of management under the catch phrase of regaining the trust of every customer.
Nissay Asset Management Corporation provides high-quality services with a full lineup of investment products
to aggressively meet the diverse needs of its customers for asset formation and employee benefit. Nissay
Asset had approximately 7.2 trillion in assets under management as of March 31, 2007, one of the highest
levels in the industry. The company works tirelessly to increase the trust of its customers in the fields of
investment advisory and investment trusts. In addition, it is also involved in the joint development of investment products together with partners such as Putnam Investments, LLC of the U.S. and Nissay Research
Institute.
Promoting a Group IT strategy, and taking maximum advantage of our business know-how in insurance and
insurance-related areas, we have developed cutting-edge information systems, including the industry-first
Nissay Insurance Accounts and a web-based core business system. Nissay Information Technology is currently
working in conjunction with Nippon Life to develop large-scale information systems to upgrade and fortify its
work system infrastructure, including the further development of the underwriting system. At the same time,
it is working in areas outside of Nippon Life to create computerized diagnostic forms to streamline hospital
work processes. Sales in fiscal 2006 came in at approximately 41.9 billion.
http://www.nissay.co.jp/kaisya/annai/group.html
http://www.nissaydowa.co.jp/
http://www.nam.co.jp/
http://www.nissay-it.co.jp/
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