Messages from Outside Directors

Respect the Distinctive Business Strategy and Increase the Value of the Entire Group Naoki Ohgo Director (outside officer, part-time)

I was appointed as an outside director of the Company in June 2017. My principal profession is management consulting, and from that standpoint, I think it is extremely important for a company to develop its own distinctive strategy. On the other hand, when you turn to the strategies of Japanese financial institutions, they have a strong tendency to lay out similar strategies, and business integration seems to simply aim for the expansion in scale.

In this respect, the T&D Life Group’s three core life insurance companies each have their own distinct business strategies, and these strategies are developed on a unified basis under a holding company. The Group has a very unique presence which has drawn my attention since at the time of its establishment.

Japanese life insurance industry is in a difficult business environment where its business operation will definitely contract in a natural posture due to a declining population. Therefore, how to fight back this situation will be the key to any growth strategy. The Company will not necessarily fit in to a strategy which makes full use of its capital resources and scale merits. Rather, it has thus far created business opportunities by anticipating the changes of the times and launching exceptional products and services ahead of the competition. I am convinced that the Company will be able to survive in a difficult competitive environment through a unique strategy which cannot be matched by other companies. I considered there is a role for me to make this possible, and it was on this basis that I decided to participate in the Company’s management.

What I’ve observed since taking up this appointment is that one of the Company’s strengths is its governance which is, in a good sense, thoroughly committed to the fundamentals of a management theory. Pursuing fundamentals are easier said than done. At board meetings, what is currently taking place internally and how it is being addressed is explained sufficiently, including the decision-making processes involved. I think this sincere attitude is another factor sustaining the Company’s growth.

To become strong as a whole, each individual domain must become strong. The Group is striving to increase its entire value through each Group company having its own distinctive strategy and growing stronger under a single governance. Together with all the Group’s executives and employees, I intend to devote myself in the role of outside director to facilitate the growth of the entire Group.

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