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Message From CEO

TANIGAKI Kunio Director and President, CEO, Representative Executive Officer

I am Kunio Tanigaki, appointed as President of Japan Post Insurance on June 19, 2023. I will continue to do my utmost to carry out our social mission that "We will remain trusted and selected by customers, thereby protecting their lives by providing life insurance product," and hope for your kind support.

The Postal Life Insurance Service, the predecessor of Japan Post Insurance, was founded in 1916 with the social mission of "protecting the means of fundamental livelihood of the public through simple procedures." Today, over a century later, our life insurance, simple with small coverage amounts, has supported the lives of a great number of customers. Our current management philosophy of "Be a trustful partner for people, always being close at hand and endeavoring to protect their well-being" embodies a spirit unchanged since our founding, and is our commitment to the future. I intend to steadfastly carry that mission forward.

In addition, we must seriously consider the expectations of customers, shareholders, employees, members of the local community and all our stakeholders, and achieve sustainable corporate growth by finding solutions to social issues in order to meet their expectations. I believe that these are the responsibilities placed on me as president. To this end, I am determined to move forward with the same enthusiasm and the flexibility to adapt to these times full of changes.

Sustainability Policy and Social Challenges (Materiality) to Address with Priority

We have set a "Sustainability Policy" to aim to realize sustainable growth and SDGs by contributing to resolving social issues related to sustainability through the embodiment of our management philosophy and fulfillment of our social mission to protect customers' lives with the power of insurance.

The SDGs are international goals that aim to create a more sustainable and better world. These goals serve as guides to meet the needs of society and our customers, representing values worthy of respect and achievement, not only from individuals, but also from corporations. We recognize that achieving the SDGs is a universal, top priority for management at our company, which takes on the challenge of solving social issues through the life insurance business.

To fulfill our social mission (purpose) based on the sustainability policy, we set up five "Social Challenges (Materiality) to Address with Priority."

Five Social Challenges (Materiality) to Address with Priority

Provide insurance products and services through the network of post offices, etc.
Contribute to the development of communities and society; and environmental conservation
Extend healthy life expectancy through health promotion, etc. - Increase well-being
Establish an environment where each and every employee can actively demonstrate his/her full potential to empower himself/herself
Corporate governance supporting the meaning of our business and social mission
(1) Provide insurance products and services through the network of post offices, etc.

With the coming age of the 100-year life, we are seeing rapid progress in aging, declining birthrates, population declines, urbanization, and depopulation of rural areas. And while the use of digital technology advances worldwide, there is also a digital divide, or a gap between those who use digital technologies easily and those who do not. Amid these circumstances, we have been asked to offer more functions beyond the traditional service as a life insurance provider in times of emergency. Customers are seeking ways to live a secured and healthy post-retirement life, as well as to prepare for inheritances and asset succession. We must meet these needs while offering warmth and convenience, not only through in-person interactions through our network of post offices, but also through the convenience of digital technologies as we engage in digital transformation (DX).
In FY2022, we established the new Japan Post Insurance sales system to respond in a detailed manner to the diversifying needs of customers. In addition to welcoming approximately 13,000 new employees, including consultants from Japan Post Co. (employees who mainly visit customers' homes and other locations), we have introduced an account manager system. We have also worked to enhance our insurance services, including the launch of the new medical rider Motto sono hi kara Plus, featuring generous coverage for short-term hospitalization, long-term hospitalization, and outpatient surgery, in April 2022. We will continue to build systems and develop products and services to meet our customers' expectations.
Moreover, we will strive to improve corporate management by making the most of the valuable asset of customer feedback, aiming to achieve a customer satisfaction level of 90% or higher (*1) and one of the highest Net Promoter Score (NPS)® (*2) in the industry as part of our medium-term management plan targets.

The satisfaction level was evaluated on a five-point scale of "satisfied," "somewhat satisfied," "not satisfied or dissatisfied," "somewhat dissatisfied," and "dissatisfied," and the total ratio of customers who answered "satisfied" and "somewhat satisfied" is shown.
Net Promoter Score (NPS)®: An index that measures customer loyalty (attachment and trust) to a company or brand (Net Promoter Score is a registered trademark of Bain & Company, inc., Fred Reichheld, and Satmetrix Systems, Inc.).
(2) Contribute to the development of communities and society; and environmental conservation

Climate change and other global environment issues are becoming increasingly important. The 26th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP26) held in November 2021 adopted an outcome document stating that supporters will pursue efforts to limit the increase in the average global temperature to 1.5°C.
For our own greenhouse gas emissions, we have set an interim reduction target of 46% (compared to FY2019) by FY2030, aiming for carbon neutrality by the year 2050. In addition to reducing the electricity used in our offices, adopting electricity from renewable sources, and using hybrid vehicles for sales activities to reduce direct emissions of greenhouse gases, we are working to reduce indirect greenhouse gas emissions by reducing the amount of copy paper we use, digitizing documents delivered to customers, engaging in work-style reform (telework, etc.), and improving convenience for customers through expanded remote and digital contact points.
As an asset owner that manages assets over the long term based on insurance premiums received from customers, we recognize that society expects us to be involved in the climate change measures of our investment and financing partners. We are actively involved in these activities from the perspective of making a contribution to environmental conservation.
Specifically, we have established reduction targets for the greenhouse gas emissions from our investment portfolio, aiming for carbon neutrality by the year 2050 and a 50% reduction in greenhouse gas emissions from FY2020 levels by the end of FY2029 (March 31, 2030), as an interim target. We implement investments and loans that contribute to decarbonized societies, including the assessment of decarbonization initiatives by our investment and financing partners, and engage in initiatives that address other ESG (environment, social, governance) issues through constructive dialogue (engagement) with investees, to fulfill our responsibility as an asset owner. One of the targets during the span of our Medium-Term Management Plan (FY2021 to FY2025) is to achieve a total power output of 1.5 million kW from renewable energy facilities in which we invest and finance. In this way, we set an example encouraging Japan and the world to become carbon neutral.

(3) Extend healthy life expectancy through health promotion, etc. - Increase well-being

As average life expectancies increase, we see a growing emphasis on extending the healthy life expectancy and avoiding bed confinement, dementia, or other conditions that require nursing care. Healthy life expectancy is the period of a healthy and fulfilling life in which individuals achieve a state of physical, mental, and social well-being. We believe we make a significant contribution to meeting needs for health and the revitalization of local communities by encouraging the spread of "Radio-Taiso" exercise for many years. We have leveraged our unique strengths to support "Radio-Taiso" as well as the Sukoyakanpo health support app that we developed.
"Radio-Taiso" was established by The Postal Life Insurance Bureau of the Ministry of Communications (the predecessor of Japan Post Insurance). This program has enjoyed local community support, and is familiar to many as a means for encouraging local health and community interaction. FY2022 saw the resumption of the Festival of 10 Million People's "Radio-Taiso" and "Minna no Taiso" and the "Radio-Taiso" and "Minna no Taiso" Tour across Japan, after a three-year hiatus due to the impact of COVID-19.
As life gradually returns to pre-COVID-19 normality, Japan Post Insurance is holding all-Japan elementary school "Radio-Taiso" competitions, in addition to "Radio-Taiso" events in collaboration with local governments and other communities across Japan. Other related activities include "Radio-Taiso" events via digital technology and "Radio-Taiso" one-point lesson videos on YouTube. In these efforts, we will continue to encourage everyone to engage in "Radio-Taiso" at any time and in any place. To support the health management of the working generation and corporations, we have expanded our support to provide one-point "Radio-Taiso" lessons at offices. We have also launched a joint-research project with specialized institutions to verify the medical health benefits of "Radio-Taiso."

(4) Establish an environment where each and every employee can actively demonstrate his/her full potential to empower himself/herself

Enabling every employee to feel motivated, including employees who interact directly with customers and employees who support them in the background, will allow us to provide services that satisfy customers, in turn leading to corporate growth. We must support the activities of a diverse base of human resources and adopt work styles not bound by time or place to create environments in which employees experience self-fulfillment and job satisfaction. Establishing a corporate culture in which employees contribute actively is a top priority requiring management to take the initiative.
To revitalize internal communications, we established a system (Direct Suggestions to the President of Japan Post Insurance) for employees to submit feedback and suggestions to the CEO. Direct Suggestions to the President of Japan Post Insurance allows employees to provide suggestions promptly and in real time. We believe this system is becoming very valuable from the perspective of customer experience, risk management, and enhancing corporate value.
In FY2022, we welcomed approximately 13,000 new employees of Japan Post Co. as our employees, as part of a substantial reform of systems focused on the sales divisions of Japan Post Insurance. In the context of this transformation, we hold regular meetings where senior managers exchange opinions directly with employees on the front line, to ensure that management and employees are looking in the same direction and are united in their efforts.
Managers, who are the core of our organization, must improve their own skills if we are to encourage employees to maximize their capabilities. We respect the viewpoint of customer-first and take the initiative to solve all manner of issues in embodying our management philosophy. At the same time, we strive to change the mindset and behavior of managers to ensure we engage in management allowing each employee to feel motivated to work with their own hopes and dreams.

(5) Corporate governance supporting the meaning of our business and social mission

Corporate governance is the foundation of management. We will ensure our activities fully comply with laws, regulations, and social norms, and are always based on high ethical principles.
We recognize that governance issues were a major cause of our solicitation quality issues. To prevent issues such as these from occurring again, we recognize that the most important management priority is to make sure to implement customer-first business activities, and we will work to ensure compliance and to enhance corporate governance.
We will also continue to disclose information about our organization in an appropriate manner, and provide accurate and reliable sustainability-related information.
From these perspectives, we will continue to do our utmost to strengthen governance, in order to be a company trusted and selected by customers.

Toward Achieving Sustainability

As a life insurance company, we have established a Sustainability Committee as a specialized committee to pursue company-wide efforts that address the materialities described above in an integrated manner. The Sustainability Committee plays a central role in overseeing sustainability management plans for the company, establishing, improving, and reinforcing a framework to pursue sustainability management. The committee is also responsible for company-wide initiatives, monitoring, managing, and overseeing the PDCA cycle. On the other hand, We have introduced initiatives for employees to engage in opinion exchange in small groups, discussing topics such as materiality of the company to foster awareness regarding sustainability.

Sustainability management in collaboration with our employees is how we grow our business while contributing answers to issues faced by our customers and society. By confronting issues, meeting challenges, and taking action, we will achieve sustainability and the sustainable growth of corporate value. I would like to ask for your understanding and support in our efforts toward the future of Japan Post Insurance.