[For Reference] Notice Regarding Change in Major Shareholder of LIFENET Insurance and Execution of New Business Alliance Agreement
KDDI Corporation
au Financial Holdings Corporation, KDDI Corporation, and LIFENET Insurance Company hereby announce that, as of April 30, 2026, the parties have agreed to form a new business alliance agreement as outlined below.
Further details are available in the press release issued by au Financial Holdings Corporation.
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[For Reference] English translation by KDDI
April 30, 2026
au Financial Holdings Corporation
LIFENET INSURANCE COMPANY
Notice Regarding Change in Major Shareholder of LIFENET Insurance and Execution of New Business Alliance Agreement
au Financial Holdings Corporation (hereinafter referred to as "auFH"), KDDI Corporation (hereinafter referred to as "KDDI"), and LIFENET Insurance Company (hereinafter referred to as "LIFENET") hereby announce that, as of April 30, 2026, the parties have agreed to form a new business alliance agreement as outlined below.
Since forming a capital and business alliance agreement between KDDI and LIFENET in 2015 (see Note), auFH, KDDI, and LIFENET have built a strong partnership over approximately ten years, to provide new financial services focused on customer needs. During this period, the partnership has been further strengthened through initiatives including the launch of "au Life Insurance" and the provision of group credit life insurance for mortgage borrowers of au Jibun Bank Corporation, a subsidiary of auFH. As a result, a stable operating framework for the collaborative business has been established.
Amid this backdrop, the business environment has changed significantly as a result of evolving financial and economic conditions, the digitalization of financial services, and rapid technological progress, including advances in generative AI.
In light of these changes, the parties reviewed the optimal structure of their alliance. Consequently, auFH has decided to transfer all of its 14,726,100 shares in LIFENET (equivalent to an 18.32% ownership stake) to Japan Airlines Co., Ltd., which will become a new strategic partner of LIFENET. Concurrently, auFH, KDDI, and LIFENET have agreed to continue their existing collaborative businesses as close business partners under a new business alliance agreement.
Following this agreement, auFH, KDDI, and LIFENET will remain important strategic partners despite the change in their capital relationship. Going forward, based on the new business alliance agreement, the parties will further integrate their respective expertise and assets to continue existing collaborative businesses and maximize synergies.
End
- (Note)On December 2, 2019, KDDI implemented an absorption-type company split, with KDDI as the splitting company and auFH as the succeeding company, pursuant to which all common shares of LIFENET held by KDDI were succeeded by auFH.
As a result, the capital alliance agreement between LIFENET and KDDI was transitioned to a capital alliance agreement between LIFENET and auFH, and the business alliance agreement between LIFENET and KDDI was revised into a tripartite business alliance agreement among LIFENET, auFH, and KDDI.
- *The information contained in the articles is current at the time of publication.
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