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Medium-term Business Plan

In May 31, 2017, we held a "FY2017 Sony Financial Group Corporate Strategy Meeting" and presented review and progress toward Medium-term plan for FY2016 - FY2018.

FY2017 Sony Financial Group Corporate Strategy Meeting

Date May 31, 2017

*Note that titles of presenters are as of May 31, 2017.
**Yuichiro Sumimoto was appointed as President, Representative Director of Sony Bank Inc. on June 21, 2017

Presentation Materials Presentation Material (PDF 1.5MB)
QAs(Summary) (PDF 113KB)
Online Presentation
(  Video)
Corporate Strategy Meeting

Key Messages

Respond to the
ultralow interest rate environment
  • We will respond expeditiously to improve profitability (particularly in the life insurance business).
Achieve ongoing
growth for the
Group as a whole
  • We will reinforce our provision of high-quality, highly convenient services, and continue expanding our business operations by strengthening our competitive edge.
  • While monitoring operating expenses closely, we will confidently make up-front investments aimed for future growth.
  • We will engage steadily in initiatives targeting new business fields and new services. At the same time, we will utilize technologies that contribute to increases in customer value.
  • We have introduced an ERM framework into Group management, and are strengthening our management platform with a view to improve Group profitability and capital efficiency.
Capital policies,
Shareholder returns
  • Based on the assumption that we will maintain financial soundness in each of our businesses, we will aim for steady increases in dividends in line with earnings growth over the medium to long term.
  • We have changed our medium-term dividend policy in line with growth in the Groupʼs business operations.
    (When determining dividends, we will place importance on profit indicators based on economic value.)

Note: Text in blue indicate additions or changes from the medium-term plan announced in June 2016.

Review of Progress on the Medium-term Plan for FY16-18

Medium-term Management Targets

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Sony Life Business Strategies and Targets

Lifeplanner Channel
Expansion in the number of sales personnel to drive stable growth

  • Enhancing recruitment process and initial training
  • Further strengthening the provision of value (enhance corporate products/ services and introduce "Karte" customer database)

Independent Agency Channel
Realize growth

  • Achieve steady business growth in large corporate independent agencies
  • Expanding independent agencies with close ties to their local community through establishing solid structure of sales operation

Solid growth of corporate value

  • Realizing profit growth exceeding medium-term targets based on economic value

Progress toward FY18 Medium-term Targets

Medium-term Targets for Fiscal 2018

*1 The figure includes the number of contracted Lifeplanner sales employees and those rehired on a fixed-term contract basis after retirement.

*2 Figures in "FY18 Mid-tem target" are based on interest rate levels at the end of March 2016, and others are based on those at the end of March 2017. With the adoption of UFR for MCEV in the first quarter of FY16, medium-term targets were reevaluated.

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Sony Assurance Business Strategies and Targets

Sustain growth in automobile insurance

Work to maintain leading position in the direct automobile insurance market and respond to future changes in the operating environment

  • Provide products that are rational, progressive and unique. Focus on the telematics field.
  • Apply progressive technologies to increase sophistication of marketing and services.
  • Improve the operating expense ratio in preparation for future reductions in insurance premium rates.

Expand business categories other than automobile insurance

By expanding business categories other than automobile insurance, moving away from a structure heavily relied on automobile and ensure a stable, longterm earnings base

  • Accelerate expansion in area of medical insurance by introducing new products and enhancing existing products.
  • Consider expansion of new categories within fire and casualty insurance, the business domains that we can leverage the companyʼs strengths.

Maximize customer value

As a source of growth, enhance the customer experience, as well as product and service specifications

  • Enhance the customer experience through customer contact points, thereby raising NPS* and augmenting customer retention.
  • Increase perceived quality by raising product and service specifications, sweeping away uncertainties about direct insurance and strengthening the ability to acquire new contracts.

Renovate business systems and reform operations

Conduct large-scale renovation of core business systems and enact operational reforms

  • Improve system development and maintenance efficiency by renovating system configurations.
  • Along with system reconfiguration, enhance services, improve the customer experience and conduct operational reforms, aiming to improve operating efficiencies.

* NPS stands for Net Promotor Score.

Progress toward FY18 Medium-term Targets

Medium-term Targets for Fiscal 2018

* Adjusted ordinary profit = Ordinary profit + Provision for catastrophe reserve

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Sony Bank Business Strategies and Targets

Enhance and expand product services

  • Establish Sony Bank as a bank that easily deals with foreign currency transactions
  • Expand apps to increase convenience
  • Diversify loan products for individual customers

Expand customer base through strategic alliance

  • Strengthen tie-up channels with realtors, etc.
  • Expand introduction of Sony Bank WALLET affiliated card
  • Expand real channels for Lifeplanner sales employees, etc.

Improve management efficiency

  • Realize profit growth through improved profitability and efficiency
  • Achieve 6% ROE

Progress toward FY18 Medium-term Targets

Medium-term Targets for Fiscal 2018

*1 Sum of yen deposits, foreign currency deposits, investment trusts and personal loans.
*2 Consolidated base

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Sony Lifecare Business Strategies

Establish the
SONARE brand and
open new homes

  • To realize the "Life Focus" business concept, establish the SONARE brand of high-quality nursing care homes.
  • Leverage the knowhow accumulated through the first and second homes to develop the third and future homes.

Acquire scale through alliances

  • By converting Yuuai Holdings to a subsidiary, acquire business management know-how and scale in the volume zone.

Prepare to launch
new brands

  • Make effective use of management resources in the Sony Lifecare Group, and begin preparations to launch a new brand.

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Medium-term Dividend Policy

< In line with our policy to date >

  • We aim for steady increases in dividends in line with earnings growth over the medium and long terms, based on stable dividend policy.

< Current revisions >

  • When determining future dividends, we will place more importance on factors that more closely track growth in the life insurance business, such as MCEV and profit indicators on the basis of economic value.
  • We will discontinue our medium-term target dividend payout ratio based on profit on a statutory accounting basis.

Trend on dividend per share

As of Feb. 2, 2018

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