Stance on Promoting Responsible Investment

With customers throughout Japan, Dai-ichi Life is a "universal owner" of a wide range of assets, and recognizes the need to conduct investments with consideration to a variety of stakeholders. Our goal is thus to promote responsible investment (including ESG investment and stewardship activities) as a priority in increasing the sophistication of our asset management, and to balance obtaining medium- to long-term returns with solving social issues.

Dai-ichi Life's responsible investment consists of ESG Investment (environment, society and governance) that seeks both to gain better returns and solve social challenges, and Stewardship Activities that aim to improve the corporate value of our investee companies. Dai-ichi Life systematically implements ESG Investment and Stewardship Activities, respectively governed by the ESG Investment Policy and Stewardship Activities Policy.

Dai-ichi Life has established the Responsible Investment Committee and Responsible Investment Meeting to promote both the discussion of initiatives related to responsible investment from various perspectives and to increase the sophistication of such efforts.
Its policies of responsible investment are formulated based on deliberations at the Responsible Investment Committee-the majority of which consists of external members-and especially important matters are reported to the Board of Directors and Executive Management Board. In addition, Dai-ichi Life monitors and discusses the progress of initiatives promoted by entire investment department through the Responsible Investment Meetings attended by members involved in responsible investment.

The majority of the members of the Responsible Investment Committee are external experts with extensive knowledge in management strategy, governance, ESG investment, and a variety of other subjects enabling a system that reflects broad external opinions in the Committee.
In addition to external experts, Dai-ichi Life appoints officers in charge of compliance to the committee as members to deliberate and confirm important policies on responsible investment, exercising voting rights on important resolutions and other matters by from a stance fully addressing any conflicts of interest in life insurance contracts.

In the 2024 PRI Assessment, we received the highest rating of 5 stars in our scoring categories of “Policy, Governance, and Strategy” and “confidence-Building Measures”. Based on the assessment results, we will further improve our responsible investment.

In FY2024, we received COMMENDATION, which is next to WINNER, in the Asset Owners category of the Global Stewardship Disclosure Awards, which is organized by the International Corporate Governance Network (the “ICGN”).

【Reasons for Received COMMENDATION】

• Making a commitment to reach English language stakeholders who would be interested in reviewing the information on its website and relevant stewardship disclosures.
  Clearly articulating their role as an institutional investor and “universal owner”, promoting responsible investment, ESG and stewardship activities, including engagement, voting rights and voting results.
• Offering reports that are comprehensive, setting forth the outcomes of their engagement activities quite clearly within the responsible investment structure.
• Demonstrating a level of accountability that is impressive within its governance structure, commitment to social responsibility and a sustainable society.