I. Fiscal Year 2012 Organizational Changes (effective March 25, 2012)

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1 I. Fiscal Year 2012 Organizational Changes (effective March 25, 2012) 1. Enhancement of corporate & worksite sales system in the central Tokyo Metropolitan Area and other related measures We have positioned the central Tokyo Metropolitan Area, where corporations and business offices are concentrated, as a top priority market for Head Office. Accordingly, we plan to dramatically enhance our sales system with the aim of increasing the sales of new policies in the corporate and worksite market. (1) Enhance the corporate & worksite sales system through integrated management of sales channels We will establish a system enabling integrated management of the three sales channels* deployed in the central Tokyo Metropolitan Area under a single Regional Headquarters. Under this system, we will conduct sales activities that take full advantage of each channel s features, such as by strategically deploying sales channels according to market needs. Furthermore, we will tap the expertise of the Corporate & Worksite Sales Office, which specializes in the corporate and worksite sales channel, through integrated management of the three sales channels. Specifically, we will work to enhance sales capabilities in the corporate and worksite sector by applying the Corporate & Worksite Sales Office s expertise in sales activities in this sector to human resources development in other sales channels. * The three sales channels are Branches; the Corporate & Worksite Sales Office, which specializes in large corporate worksites; and the Metropolitan Area Corporate & Worksite Sales Office, which is responsible for small and medium-sized companies. (2) Establish a corporate & worksite sales system by integrating the Head Office Retail Sector and Corporate Marketing Sector We will establish a structure where corporate sales staff and sales representatives jointly promote corporate & worksite sales such as by proposing individual insurance policies based on employee benefit programs. This will be achieved by positioning the Corporate Sales, which is responsible for group insurance for small and medium-sized companies, under the executive authority of the Retail Sector. Specific details of the reorganization are as follows: * Please see chart on the next page. The 1st to 5th Corporate & Worksite Sales Offices (Tokyo) will be transferred from the Corporate & Worksite Sales Headquarters to the Metropolitan Area Headquarters. Part of the Corporate Marketing will be transferred from the Metropolitan Corporate Marketing Headquarters to the Metropolitan Area Headquarters. The 1st to 3rd Corporate Sales Depts. (Tokyo) will be transferred to the Metropolitan Area Headquarters, and will be integrated into the 1st Metropolitan Area Corporate Marketing and the 2nd Metropolitan Area Corporate Marketing, which are responsible for small and medium-sized companies in the central Tokyo Metropolitan Area. The 5th Corporate Sales (Tokyo) will be transferred to the Metropolitan Area Headquarters, and will be renamed as the Metropolitan Corporate Marketing specializing in small and medium-sized companies in the Tokyo Metropolitan Area and surrounding areas. General business transaction functions with large companies will be transferred from the Corporate Marketing to the Head Office 2nd Corporate Marketing (Tokyo) to newly establish the 11th Corporate Relations Management (Tokyo). At the same time, the 4th Corporate Sales (Tokyo) responsible for foreign-based corporations and other customers will be transferred to Head Office 2nd Corporate Marketing (Tokyo), and will be reorganized into the 12th Corporate Relations Management (Tokyo) from the standpoint of further promoting comprehensive transactions with its corporate clients. As a result of the foregoing, the Corporate & Worksite Sales Headquarters and the Metropolitan Corporate Marketing Headquarters will be abolished. 1

2 2. Changes to the Great East Japan Earthquake response system Given that responses to the damage and other impacts of the Great East Japan Earthquake are shifting to a stage where the situation can be dealt with individually by organizations in each field, the Earthquake Disaster Recovery Bureau will be abolished. The functions of the Earthquake Disaster Recovery Bureau will be taken over by the organizations responsible for each function, while maintaining a cooperative framework across the company. In this framework, Nippon Life will continue working to confirm the safety of customers, along with making payments of insurance claims, benefits and so forth to customers in the disaster-stricken areas and continuing to provide various forms of assistance to these areas. [Chart] [Current] [Revised] Corporate & Worksite Sales Headquarters 1st to 5th Corporate & Worksite Sales Offices (Tokyo) (Abolish) Metropolitan Area Headquarters Branch (27 Branches) Metropolitan Area Corporate & Worksite Sales Office (2 Offices) 1st to 5th Corporate & Worksite Sales Offices (Tokyo) [Transferred] Metropolitan Corporate Marketing Headquarters 1st to 3rd Corporate Sales Depts. (Tokyo) (Abolish) 1st and 2nd Metropolitan Area Corporate Marketing Depts. [Transferred and reorganized] Metropolitan Corporate Marketing [Transferred and renamed] 5th Corporate Sales (Tokyo) Transfer functions designed to promote comprehensive transactions with large corporations Head Office 2nd Corporate Marketing (Tokyo) 11th Corporate Relations Management (Tokyo) [Transferred and newly established] 4th Corporate Sales (Tokyo) 12th Corporate Relations Management (Tokyo) [Transferred and reorganized] 2

3 II. Fiscal Year 2012 Change of Directors (Effective March 25, 2012) 1 Appointments Head of International Sector (International Planning & Operations related), and Investment Management Sector (Finance & Investment Planning, Finance Planning & Management related, and Real Estate Investment related) Director and Senior Managing Head of International Sector, and Investment Management Sector (Finance & Investment Planning, Marketable Securities, and Separate Account Investment related) Takeshi Furuichi Director and Senior Managing Head of Corporate Administration Sector (Secretarial, Public Affairs, Affiliated Business, Personnel, General Affairs related), Compliance Sector, Risk Management Sector, and Auditing Sector Director and Managing Head of Investment Management Sector (Finance Planning & Management related), and Corporate Administration Sector (Secretarial, Actuarial, and Product Planning related) Kazuo Kobayashi Director and Senior Managing Head of Investment Management Sector (Credit, and Securities Operations related), and Administrative Service Sector (New Integrated System Project, Underwriting, Payments, Call Center and Customer Service related) Delegation: General Manager of Customer Service Headquarters Director and Managing Head of Investment Management Sector (Credit, and Securities Operations related), and Administrative Service Sector (New Integrated System Project, and Customer Service related) Delegation: Assistant General Manager of Customer Service Headquarters Masami Kuroda Director and Managing Head of International Sector (International Investment related), and Investment Management Sector (Marketable Securities, and Separate Account Investment related) Director and Head of Corporate Administration Sector (Earthquake Disaster Recovery, Public Affairs related), Compliance Sector, and Risk Management Sector Delegation: General Manager of Earthquake Disaster Recovery Bureau Nobusuke Matsui Director and Managing Delegations: General Manager of Tokai Regional Headquarters, and General Manager of Head Office Tokai Corporate Marketing Director and Head of Auditing Sector Shohei Miki 3

4 Managing Delegations: General Manager of Agency Marketing Headquarters, and General Manager of Financial Institution Relations Headquarters Delegations: General Manager of Agency Marketing Headquarters, and General Manager of Financial Institution Relations Headquarters Takeshi Hayashi Managing Delegations: General Manager of Head Office 1st Corporate Marketing, General Manager of Head Office 3rd Corporate Marketing, and General Manager of Head Office East Japan Corporate Marketing Delegations: Assistant General Manager of Head Office 1st Corporate Marketing, Assistant General Manager of Head Office 3rd Corporate Marketing, and General Manager of Head Office East Japan Corporate Marketing Katsuya Hirai Managing Delegation: General Manager of Corporate Planning Delegation: General Manager of Corporate Planning Hiroshi Shimizu 2 New Appointments Delegation: General Manager of Finance Planning & Management Director and Nissay Asset Management Corporation Tomiji Akabayashi Delegations: General Manager of Head Office Kyushu Corporate Marketing, Assistant General Manager of Agency Marketing Headquarters (Kyushu), Assistant General Manager of Financial Institution Relations Headquarters (Kyushu), and Deputy Chief (Sales Representatives Operations Management ) General Manager of 1st Financial Institution Relations Kazuyoshi Watanabe Delegation: General Manager of Planning and Research General Manager of Planning and Research Seiji Kitou Delegation: General Manager of Finance & Investment Planning General Manager of Finance & Investment Planning Yosuke Matsunaga 4

5 3 s (Part 1) Director, Scheduled assumption of office as President of Nissay Asset Management Corporation as of April 2, 2012 Head of Corporate Marketing Sector, and Marketing Support Sector (Corporate Marketing related) Delegations: General Manager of Head Office 1st Corporate Marketing, and General Manager of Head Office 3rd Corporate Marketing Kiyoshi Ujihara Director, Scheduled assumption of office as Senior Managing Executive Officer of Aioi Nissay Dowa Insurance Co., Ltd. as of April 1, Director and Senior Managing Executive Officer, Head of Retail Sector, Corporate & Worksite Sales Sector, and Marketing Support Sector (Sales Representatives Training, Sales Representatives Operations Management, and Corporate & Worksite Marketing related) Delegations: Regional Branch Administration Senior Manager, General Manager of Nissay Training Center, and General Manager of Business School for Sales Managers Hiroshi Manabe Scheduled assumption of office as President of The Tokyo Agency of Nippon Life Insurance Co., Ltd. as of April 2, Senior Managing Delegations: General Manager of Metropolitan Area Headquarters, and General Manager of Metropolitan Corporate Marketing Headquarters Hiroaki Shodono Scheduled assumption of office as Adviser of NLI Research Institute as of March 25, 2012 Managing Delegations: General Manager of Head Office 2nd Corporate Marketing, and Assistant General Manager of Metropolitan Corporate Marketing Headquarters Jyunichi Noro 3 s (Part 2) Scheduled assumption of office as Adviser of Nippon Life Insurance Company as of March 25, Managing Delegation: General Manager of Corporate & Worksite Sales Headquarters Taeko Yazaki 5

6 Delegations: General Manager of Finance Planning & Management, and General Manager of Corporate Finance Structuring Office Shohei Ueda 4 Change of Department Heads and Delegations (Part 1) Vice Chairman, In charge of Head Office Vice Chairman, Head of Investment Management Sector (Real Estate Investment related) In charge of Head Office Sadao Kato Head of Retail Sector, Corporate Marketing Sector, and Marketing Support Sector (Sales Representatives Training, Sales Representatives Operations Management, Corporate & Worksite Marketing, and Corporate Marketing related) Delegation: General Manager of Head Office 2nd Corporate Marketing Head of Corporate Administration Sector (Affiliated Business, Personnel, General Affairs related), and Administrative Service Sector (Underwriting, Payments, and Call Center related) Delegation: General Manager of Customer Service Headquarters Kenichi Kobayashi Director and Senior Managing Head of Corporate Administration Sector (Corporate Planning, Head Office Public Affairs, Public & Investors Relations, Planning and Research, Actuarial, Legal, and Product Planning related), and Auditing Sector Director and Senior Managing Head of Corporate Administration Sector (Corporate Planning, Head Office Public Affairs, Public & Investors Relations, Planning and Research, and Legal related) Yasuomi Matsuyama Director and Managing Head of Agency Management Sector, Financial Institution Relations Sector, Marketing Support Sector (Marketing Planning related), and Service Network Development Sector Delegation: Assistant General Manager of Metropolitan Area Headquarters (central Tokyo Metropolitan Area corporate & worksite sales) Director and Managing Head of Agency Management Sector, Financial Institution Relations Sector, Marketing Support Sector (Marketing Planning related), and Service Network Development Sector Yoshinori Terajima 6

7 Managing Delegations: Regional Branch Administration Senior Manager, General Manager of Nissay Training Center, and General Manager of Business School for Sales Managers Managing Delegations: General Manager of Kinki Regional Headquarters, and Assistant General Manager of Head Office Osaka Corporate Marketing (Kinki) Takashi Motoyama Managing Delegations: General Manager of Metropolitan Area Headquarters, and Assistant General Manager of Metropolitan Area Headquarters (Tokyo Metropolitan Area) Managing Delegations: General Manager of Tokai Regional Headquarters, and General Manager of Head Office Tokai Corporate Marketing Toshifumi Terada 4 Change of Department Heads and Delegations (Part 2) Delegations: General Manager of Kinki Regional Headquarters and Assistant General Manager of Head Office Osaka Corporate Marketing (Kinki) Delegations: General Manager of Head Office Kyushu Corporate Marketing, Assistant General Manager of Agency Marketing Headquarters (Kyushu), Assistant General Manager of Financial Institution Relations Headquarters (Kyushu), and Deputy Chief (Sales Representatives Operations Management ) Keishi Kai Delegation: Deputy Chief (Auditing ) Delegation: General Manager of Policy Management Kazuhiro Kojima Delegations: General Manager of Personnel and General Manager of Human Resource Development Office Delegation: General Manager of Personnel Masaru Nakamura Delegation: General Manager of Business Process and Information Systems Planning (New Integrated System Project Office) Delegations: General Manager of Business Process and Information Systems Planning (New Integrated System Project Office) and Deputy Chief (Corporate Planning ) Takeshi Yabe 7

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