T&D Holdings, Inc. (“T&D Holdings” or “T&D”), formed in 2004, is Japan’s first life insurance holding company. Companies under its umbrella engage in the insurance business (mainly life insurance), as well as the asset management and investment businesses. The three main life insurance companies inside the holding company are Daido Life Insurance Company (est. 1902), Taiyo Life Insurance Company (est. 1893), and T&D Financial Life Insurance Company (formed in 2001 when Daido Life and Taiyo Life acquired Tokyo Life; referred to below as “TDF Life”).