Japan Finance 18-K/A Annual report (foreign governments) (amended)

Exhibit 5

UNAUDITED SUMMARY FINANCIAL INFORMATION

OF

THE PREDECESSORS OF JAPAN FINANCE CORPORATION

The Predecessor

The statement of earnings data and the balance sheet data that are identified below as statutory financial data were derived from the financial statements prepared by the Predecessor in accordance with the Japan Bank for International Cooperation Law and regulations thereunder.

The statement of operations data and the balance sheet data that are identified below as being in accordance with “Japanese GAAP” were derived from the financial statements of the Predecessor prepared in accordance with Japanese GAAP.

The principal differences in accounting practice between the two sets of financial statements that are set forth below included differences in the accounting for allowance in relation to loans and equity investments, allowance for employee retirement benefits and financial instruments.

The Predecessor did not prepare consolidated financial statements.

1

STATUTORY FINANCIAL DATA

Balance Sheets—The Predecessor

	As of March 31,						As of September 30,
	2008			2007			2008			2007
	(in millions)
Assets:
Cash and Cash Equivalents	¥	325,699		¥	326,200		¥	248,275		¥	398,811
Loans		18,692,943			19,202,282			18,217,101			19,173,114
Investments		135,523			140,750			145,768			135,957
Securities		6,900			8,622			5,404			7,764
Accrued Interest Income		136,695			145,276			128,507			156,369
Miscellaneous Assets		28,301			38,836			286,564			13,201
Premises and Equipment		25,079			25,647			24,989			25,264
Deferred Charges		3,417			3,062			826			2,789
Customers’ Liabilities for Acceptances and Guarantees		1,617,474			1,492,439			1,589,622			1,621,194
Allowance for Possible Loan and Investment Losses		(447,016	)		(449,046	)		(434,623	)		(448,932	)
TOTAL ASSETS	¥	20,525,015		¥	20,934,069		¥	20,212,433		¥	21,085,529
LIABILITIES, CAPITAL AND RESERVE:
Liabilities:
Borrowings	¥	6,972,187		¥	8,094,826		¥	6,556,346		¥	7,873,321
Bonds and Notes		2,130,894			1,914,517			2,209,581			1,999,299
Accrued Expenses		72,812			84,237			61,290			95,864
Miscellaneous Liabilities		29,742			10,063			8,178			62,656
Acceptance and Guarantees		1,617,474			1,492,439			1,589,622			1,621,194
TOTAL LIABILITIES		10,823,109			11,596,081			10,422,208			11,652,335
Capital and Reserves:
Capital of the International Financial Account		985,500			985,500			1,005,500			985,500
Capital of the Overseas Economic Cooperation Account		7,390,572			7,231,508			7,456,772			7,231,508
Reserve of the International Financial Account		780,375			745,236			809,206			780,375
Net Earnings of the International Financial Account		57,661			70,279			21,144			31,495
Reserve of the Overseas Economic Cooperation Account		305,464			166,062			487,798			305,464
Net Earnings of the Overseas Economic Cooperation Account		182,333			139,402			9,806			98,852
TOTAL CAPITAL AND RESERVES		9,701,906			9,337,987			9,790,226			9,433,195
TOTAL LIABILITIES, CAPITAL AND RESERVES	¥	20,525,015		¥	20,934,069		¥	20,212,433		¥	21,085,529

2

Statements of Earnings—The Predecessor

	Year ended March 31,				Six months ended September 30,
	2008		2007		2008		2007
	(in millions)
Ordinary Income
Interest on Loans	¥	558,050	¥	577,217		¥225,993	¥287,793
Guarantee Commissions		5,233		4,254		2,601	2,516
Interest on Securities		188		217		81	98
Dividends on Investments		15,052		7,142		4,337	5,318
Grant from General Account		20,000		30,000		6,750	10,000
Interest on Deposits in Banks		12,415		8,349		2,452	4,422
Interest on Swaps and Miscellaneous Interest Received		9,133		12,941		9,098	4,103
Commissions		1,948		2,189		706	902
Foreign Exchange Gains		2,230		3,413		58	2,000
Gain on Disposal of Investments		14,308		75		—	14,308
Other Income		5,040		2,542		1,148	2,134
Reversal of Allowance for Possible Loan and Investment Losses		449,046		456,589		447,016	449,046
Total	¥	1,092,644	¥	1,104,928		¥700,241	¥782,641
Ordinary Expenses
Interest on Borrowings	¥	132,615		157,505		54,548	66,319
Interest on Bonds and Notes		68,646		70,799		31,404	34,500
Interest on Swaps and Miscellaneous Interest Payment		142,732		129,007		33,210	75,631
Administrative Expenses		26,741		24,368		15,956	12,717
Depreciation of Premises and Equipment		1,120		1,073		535	546
Commissions		6,128		6,219		2,429	1,389
Foreign Exchange Losses		7,679		3,023		6,865	1,178
Loss from Disposal of Investments		—		4,624		—	—
Write-off of Loans		18,467		47,322		89,124	10,415
Amortization of Discounts on Bonds and Notes		584		569		—	259
Amortization of Bond and Note Issue Expenses		727		972		360	345
Other Expenses		196		719		236	63
Provision for Allowance for Possible Loan and Investment Losses		447,016		449,046		434,623	448,932
		852,650		895,247		669,291	652,294
Net Earnings of the International Financial Account		57,661		70,279		21,144	31,495
Net Earnings of the Overseas Economic Cooperation Account		182,333		139,402		9,806	98,852
Total	¥	1,092,644	¥	1,104,928		¥700,241	¥782,641

3

Balance Sheets—The Predecessor—International Financial Account

	As of March 31,						As of September 30,
	2008			2007			2008			2007
	(in millions)
ASSETS:
Cash and Cash Equivalents	¥	324,170		¥	258,234		¥	244,301		¥	303,039
Loans		7,305,811			7,823,666			6,948,720			7,875,531
Investments		921			810			10,926			798
Securities		6,900			8,622			5,404			7,764
Accrued Interest Income		74,927			79,593			67,763			92,888
Miscellaneous Assets		27,580			38,224			285,516			12,498
Premises and Equipment		18,398			18,847			18,204			18,586
Deferred Charges		3,417			3,062			826			2,789
Customers’ Liabilities for Acceptances and Guarantees		1,617,474			1,492,439			1,589,622			1,621,194
Allowance for Possible Loan and Investment Losses		(53,570	)		(54,950	)		(40,885	)		(55,186	)
TOTAL ASSETS	¥	9,326,027		¥	9,668,546		¥	9,130,395		¥	9,879,900
LIABILITIES, CAPITAL AND RESERVES:
Liabilities:
Borrowings	¥	3,665,483		¥	4,380,023		¥	3,442,084		¥	4,321,422
Bonds and Notes		2,130,894			1,914,517			2,209,581			1,999,299
Accrued Expenses		59,223			70,604			47,990			78,288
Miscellaneous Liabilities		29,417			9,949			8,078			62,327
Acceptances and Guarantees		1,617,474			1,492,439			1,589,622			1,621,194
TOTAL LIABILITIES		7,502,491			7,867,531			7,294,546			8,082,530
Capital and Reserves:
Capital		985,500			985,500			1,005,500			985,500
Reserve		780,375			745,236			809,206			780,375
Net Earnings for the Period		57,661			70,279			21,144			31,495
TOTAL CAPITAL AND RESERVES		1,823,536			1,801,015			1,835,850			1,797,370
TOTAL LIABILITIES, CAPITAL AND RESERVES	¥	9,326,027		¥	9,668,546		¥	9,130,395		¥	9,879,900

4

Statement of Earnings—The Predecessor—International Financial Account

	Year ended March 31,				Six months ended September 30,
	2008		2007		2008		2007
	(in millions)
Ordinary Income:
Interest on Loans	¥	326,158	¥	336,857	¥	113,709	¥	170,804
Guarantee Commissions		5,233		4,254		2,601		2,516
Interest on Securities		188		217		81		98
Interest on Deposits in Banks		12,199		8,338		2,319		4,269
Interest on Swaps and Miscellaneous Interest Received		9,132		12,939		9,097		4,102
Commissions		1,279		1,628		487		656
Foreign Exchange Gains		2,219		3,413		58		1,989
Other Income		4,756		2,255		860		1,896
Reversal of Allowance for Possible Loan and Investment Losses		54,950		55,009		53,570		54,950
Total	¥	416,115	¥	424,911	¥	182,782	¥	241,280
Ordinary Expenses:
Interest on Borrowings	¥	64,297	¥	76,547	¥	25,624	¥	33,576
Interest on Bonds and Notes		68,646		70,619		31,404		34,500
Interest on Swaps and Miscellaneous Interest Payment		142,732		129,006		33,210		75,631
Administrative Expenses		16,671		15,195		9,950		7,937
Depreciation of Premises and Equipment		776		748		377		380
Commissions		1,962		2,192		778		396
Foreign Exchange Losses		7,610		3,022		6,864		1,178
Write-off of Loans		732		732		12,074		366
Amortization of Discounts on Bonds and Notes		584		569		—		259
Amortization of Bond and Note Issue Expenses		727		972		360		345
Other Expenses		147		79		112		31
Provision for Allowance for Possible Loan and Investment Losses		53,570		54,950		40,885		55,186
		358,454		354,632		161,638		209,785
Net Earnings		57,661		70,279		21,144		31,495
Total	¥	416,115	¥	424,911	¥	182,782	¥	241,280

5

Balance Sheets—The Predecessor—Overseas Economic Cooperation Account*

	As of March 31,						As of September 30,
	2008			2007			2008			2007
	(in millions)
ASSETS:
Cash and Cash Equivalents	¥	1,529		¥	67,966		¥	3,973		¥	95,772
Loans		11,387,131			11,378,616			11,268,382			11,297,583
Investments		134,602			139,940			134,843			135,158
Accrued Interest Income		61,768			65,683			60,744			63,481
Miscellaneous Assets		721			613			1,062			703
Premises and Equipment		6,681			6,800			6,785			6,678
Allowance for Possible Loan and Investment Losses		(393,445	)		(394,095	)		(393,737	)		(393,746	)
TOTAL ASSETS	¥	11,198,988		¥	11,265,523		¥	11,082,052		¥	11,205,629
LIABILITIES, CAPITAL AND RESERVES:
Liabilities
Borrowings	¥	3,306,704		¥	3,714,803		¥	3,114,262		¥	3,551,899
Accrued Interest Expenses		13,589			13,633			13,299			17,577
Miscellaneous Liabilities		325			114			114			329
TOTAL LIABILITIES		3,320,618			3,728,550			3,127,676			3,569,804
Capital		7,390,572			7,231,508			7,456,772			7,231,508
Reserve		305,464			166,062			487,798			305,464
Net Earnings for the Period		182,333			139,402			9,806			98,852
TOTAL CAPITAL AND RESERVES		7,878,370			7,536,973			7,954,376			7,635,825
TOTAL LIABILITIES, CAPITAL AND RESERVES	¥	11,198,988		¥	11,265,523		¥	11,082,052		¥	11,205,629

* As of October 1, 2008, the assets and obligations of the Overseas Economic Cooperation Operations of the Predecessor were transferred to the Incorporated Administrative Agency—the Japan International Cooperation Agency.

6

Statement of Earnings—The Predecessor—Overseas Economic Cooperation Account*

	Year ended March 31,				Six months ended September 30,
	2008		2007		2008		2007
	(in millions)
Ordinary Income:
Interest on Loans	¥	231,892	¥	240,360	¥	112,285	¥	116,989
Dividends on Investments		15,052		7,142		4,337		5,318
Grant from General Account		20,000		30,000		6,750		10,000
Interest on Deposits in Banks		216		11		134		153
Miscellaneous Interest Received		1		1		0		1
Commissions		669		561		219		247
Foreign Exchange Gains		11		0		—		11
Gain on Disposal of Investments		14,308		75		—		14,308
Other Income		285		287		288		238
Reversal of Allowance for Possible Loan and Investment Losses		394,095		401,580		393,445		394,095
Total	¥	676,528	¥	680,017	¥	517,459	¥	541,360
Ordinary Expenses:
Interest on Borrowings	¥	68,317	¥	80,958	¥	28,925	¥	32,743
Interest on Bonds and Notes		—		180		—		—
Miscellaneous Interest Payment		—		1		—		—
Administrative Expenses		10,069		9,173		6,006		4,780
Depreciation of Premises and Equipment		344		325		158		166
Commissions		4,166		4,027		1,651		993
Foreign Exchange Losses		69		0		1		0
Loss from Disposal of Investments		—		4,624		—		—
Write-off of Loans		17,735		46,590		77,051		10,049
Other Expenses		48		640		124		31
Provision for Allowance for Possible Loan and Investment Losses		393,445		394,095		393,737		393,746
		494,195		540,615		507,653		442,508
Net Earnings		182,333		139,402		9,806		98,852
Total	¥	676,528	¥	680,017	¥	517,459	¥	541,360

* As of October 1, 2008, the assets and obligations of the Overseas Economic Cooperation Operations of the Predecessor were transferred to the Incorporated Administrative Agency—the Japan International Cooperation Agency.

7

JAPANESE GAAP FINANCIAL DATA

Balance Sheets—The Predecessor

	As of March 31,						As of September 30,
	2008			2007			2008			2007
	(in millions)
Assets
Cash and Due from Banks	¥	307,253		¥	328,991		¥	247,064		¥	393,135
Securities		104,491			110,079			114,302			104,953
Loans		17,625,525			18,828,849			17,731,612			18,626,870
Miscellaneous Assets		698,058			261,162			573,641			306,871
Tangible Fixed Assets		24,537			25,060			24,527			24,694
Intangible Fixed Assets		4,260			3,514			4,990			3,752
Deferred Charges on Bonds and Notes		1,145			1,066			1,267			964
Customers’ Liabilities for Acceptances and Guarantees		1,536,922			1,496,958			1,577,509			1,603,695
Allowance for Possible Loan Losses		(203,835	)		(232,959	)		(245,805	)		(213,340	)
Total Assets	¥	20,098,361		¥	20,822,723		¥	20,029,111		¥	20,851,597
Liabilities and Net Assets
Liabilities
Bonds and Notes	¥	2,053,373		¥	1,976,086		¥	2,212,393		¥	2,041,606
Borrowings		6,972,186			8,094,826			6,556,346			7,873,320
Miscellaneous Liabilities		56,860			208,734			58,477			170,975
Reserve for Bonus Payments		1,035			1,027			1,025			1,004
Reserve for Employee Retirement Benefits		17,215			16,179			17,139			16,227
Acceptances and Guarantees		1,536,922			1,496,958			1,577,509			1,603,695
Total Liabilities	¥	10,637,593		¥	11,793,812		¥	10,422,890		¥	11,706,830
Net Assets
Capital
Capital Attributable to the International Financial Account		985,500			985,500			1,005,500			985,500
Capital Attributable to the Overseas Economic Cooperation Account		7,390,572			7,231,508			7,456,772			7,231,508
		8,376,072			8,217,008			8,462,272			8,217,008
Retained earnings
Other retained earnings
Reserve Attributable to the International Financial Account		780,375			745,236			809,205			780,375
Reserve Attributable to the Overseas Economic Cooperation Account		305,464			166,062			487,797			305,464
Accumulated Deficit		(33,359	)		(98,273	)		(207,290	)		(149,069	)
		1,052,480			813,025			1,089,712			936,770
Total Stockholders’ Equity		9,428,552			9,030,033			9,551,985			9,153,778
Net Deferred Gains (Losses) on Hedges		32,215			(1,122	)		54,235			(9,011	)
Total Valuation Differences and Translation Adjustments		32,215			(1,122	)		54,235			(9,011	)
Total Net Assets		9,460,768			9,028,911			9,606,220			9,144,767
Total Liabilities and Net Assets	¥	20,098,361		¥	20,822,723		¥	20,029,111		¥	20,851,597

8

Statements of Operations—The Predecessor

	Year ended March 31,				Six months ended September 30,
	2008		2007		2008		2007
	(in millions)
Income
Interest Income	¥	587,965	¥	587,793	¥	236,891	¥	306,027
Interest on Loans		561,114		572,467		230,262		296,255
Interest and Dividend Income on Securities		15,014		6,781		4,264		5,282
Interest on Due from Banks		11,836		8,544		2,365		4,489
Fees and Commissions		11,267		8,320		3,548		5,177
Other Operating Income		113		1,123		165		21
Other Ordinary Income		14,670		363		127		14,424
Grant from General Account		20,000		30,000		6,750		10,000
Other Extraordinary Income		25,238		42,829		1,960		20,582
Total Income	¥	659,254	¥	670,431	¥	249,444	¥	356,232
Expenses
Interest Expenses	¥	342,088	¥	361,859	¥	117,788	¥	182,224
Fees and Commissions		6,013		5,917		2,430		1,154
Other Operating Expenses		9,160		1,203		1,144		1,395
General and Administrative Expenses		26,948		25,951		15,239		12,245
Other Ordinary Expenses		282		1,540		41,971		293
Other Extraordinary Losses		166		81		4,807		35
Total Expenses	¥	384,659	¥	396,554	¥	183,382	¥	197,348
Net Income	¥	274,594	¥	273,876	¥	66,062	¥	158,884

9

Balance Sheets—The Predecessor—International Financial Account

	As of March 31,						As of September 30,
	2008			2007			2008		2007
	(in millions)
Assets
Cash and Due from Banks	¥	305,395			¥260,732		¥242,997			¥297,011
Securities		790			804		10,707			777
Loans		6,662,680			7,888,505		6,810,466			7,757,510
Miscellaneous Assets		639,161			198,249		515,226			246,181
Tangible Fixed Assets		18,041			18,457		17,872			18,209
Intangible Fixed Assets		2,642			2,180		3,094			2,327
Deferred Charges on Bonds and Notes		1,145			1,066		1,267			964
Customers’ Liabilities for Acceptances and Guarantees		1,536,922			1,496,958		1,577,509			1,603,695
Allowance for Possible Loan Losses		(116,226	)		(130,061	)	(126,312	)		(118,864	)
Total Assets	¥	9,050,552			¥9,736,893		¥9,052,828			¥9,807,813
Liabilities and Net Assets
Liabilities
Bonds and Notes	¥	2,053,373			¥1,976,086		¥2,212,393			¥2,041,606
Borrowings		3,665,483			4,380,023		3,442,084			4,321,422
Miscellaneous Liabilities		42,797			194,629		44,992			152,879
Reserve for Bonus Payments		641			637		635			623
Reserve for Employee Retirement Benefits		10,673			10,031		10,626			10,060
Acceptances and Guarantees		1,536,922			1,496,958		1,577,509			1,603,695
Total Liabilities		¥7,309,891			¥8,058,365		¥7,288,241			¥8,130,287
Net Assets
Capital:
Capital Attributable to the International Financial Account		985,500			985,500		1,005,500			985,500
Retained Earnings:
Other Retained Earnings		722,946			694,149		704,851			701,037
Reserve Attributable to the International Financial Account		780,375			745,236		809,205			780,375
Accumulated Deficit		(57,429	)		(51,086	)	(104,353	)		(79,338	)
Total Stockholders’ Equity		1,708,446			1,679,649		1,710,351			1,686,537
Net Deferred Gains (Losses) on Hedges		32,215			(1,122	)	54,235			(9,011	)
Total Valuation Differences and Translation Adjustments		32,215			(1,122	)	54,235			(9,011	)
Total Net Assets		1,740,661			1,678,527		1,764,586			1,677,525
Total Liabilities and Net Assets	¥	9,050,552		¥	9,736,893		¥9,052,828		¥	9,807,813

10

Statement of Operations—The Predecessor—International Financial Account

	Year ended March 31,		Six months ended September 30,
	2008	2007	2008	2007
	(in millions)
Income
Interest Income	¥340,867	¥340,956	¥120,386	¥183,785
Interest on Loans	329,238	332,441	118,156	179,438
Interest on Due from Banks	11,629	8,515	2,230	4,346
Fees and Commissions	10,597	7,759	3,224	4,930
Other Operating Income	113	1,100	165	—
Other Ordinary Income	140	205	78	79
Other Extraordinary Income	13,673	19,743	1,942	12,156
Total Income	¥365,392	¥369,765	¥125,797	¥200,951
Expenses
Interest Expenses	¥273,771	¥280,718	¥88,863	¥149,481
Fees and Commissions	1,838	2,042	781	390
Other Operating Expenses	8,939	1,193	1,122	1,395
General and Administrative Expenses	16,789	16,178	9,502	7,640
Other Ordinary Expenses	—	43	10,087	11
Other Extraordinary Losses	118	43	4,703	3
Total Expenses	¥301,457	¥300,218	¥115,061	¥158,924
Net Income	¥ 63,935	¥ 69,546	¥ 10,735	¥ 42,026

11

Balance Sheets—The Predecessor—Overseas Economic Cooperation Account*

	As of March 31,						As of September 30,
	2008			2007			2008			2007
	(in millions)
Assets
Cash and Due from Banks	¥	1,858		¥	68,258		¥	4,067		¥	96,123
Securities		103,701			109,275			103,594			104,175
Loans		10,962,845			10,940,343			10,921,146			10,869,360
Miscellaneous Assets		58,897			62,913			58,548			60,690
Tangible Fixed Assets		6,496			6,603			6,655			6,485
Intangible Fixed Assets		1,618			1,334			1,895			1,424
Allowance for Possible Loan Losses		(87,609	)		(102,897	)		(119,492	)		(94,475	)
Total Assets	¥	11,047,808		¥	11,085,830		¥	10,976,416		¥	11,043,784
Liabilities and Equity/Liabilities and Net Assets
Liabilities
Borrowings	¥	3,306,703		¥	3,714,803		¥	3,114,262		¥	3,551,898
Miscellaneous Liabilities		14,062			14,105			13,617			18,095
Reserve for Bonus Payments		393			390			389			381
Reserve for Employee Retirement Benefits		6,541			6,148			6,512			6,166
Total Liabilities	¥	3,327,701		¥	3,735,446		¥	3,134,782		¥	3,576,542
Net Assets
Capital:
Capital Attributable to the Overseas Economic Cooperation Account		7,390,572			7,231,508			7,456,772			7,231,508
Retained earnings:
Other Retained Earnings
Reserve Attributable to the Overseas Economic Cooperation Account		305,464			166,062			487,797			305,464
Accumulated Earnings (Deficit)		24,069			(47,187	)		(102,936	)		(69,731	)
		329,534			118,875			384,861			235,733
Total Stockholders’ Equity		7,720,106			7,350,383			7,841,633			7,467,241
Total Valuation Differences and Translation Adjustments		—			—			—			—
Total Net Assets		7,720,106			7,350,383			7,841,633			7,467,241
Total Liabilities and Net Assets	¥	11,047,808		¥	11,085,830		¥	10,976,416		¥	11,043,784

* As of October 1, 2008, the assets and obligations of the Overseas Economic Cooperation Operations of the Predecessor were transferred to the Incorporated Administrative Agency—the Japan International Cooperation Agency.

12

Statement of Operations—The Predecessor—Overseas Economic Cooperation Account*

	Year ended March 31,				Six months ended September 30,
	2008		2007		2008		2007
	(in millions)
Income
Interest Income	¥	247,097	¥	246,837	¥	116,505	¥	122,242
Interest on Loans		231,875		240,025		112,105		116,817
Interest and Dividend Income on Securities		15,014		6,781		4,264		5,282
Interest on Due from Banks		207		29		135		142
Fees and Commissions		669		560		324		246
Other Operating Income		—		23		—		21
Other Ordinary Income		14,530		157		49		14,345
Grant from General Account		20,000		30,000		6,750		10,000
Other Extraordinary Income		11,564		23,085		37		8,425
Total Income	¥	293,861	¥	300,665	¥	123,667	¥	155,281
Expenses
Interest Expenses		68,317		81,141		28,924		32,742
Fees and Commissions		4,174		3,874		1,649		763
Other Operating Expenses		220		10		22		—
General and Administrative Expenses		10,159		9,773		5,736		4,604
Other Ordinary Expenses		282		1,497		31,883		282
Other Extraordinary Losses		48		37		124		31
Total Expenses	¥	83,202	¥	96,336	¥	68,340	¥	38,423
Net Income	¥	210,658	¥	204,329	¥	55,326	¥	116,857

* As of October 1, 2008, the assets and obligations of the Overseas Economic Cooperation Operations of the Predecessor were transferred to the Incorporated Administrative Agency—the Japan International Cooperation Agency.

13

Financial Statements of Other Predecessors

National Life Finance Corporation

The following tables show the summary financial information of National Life Finance Corporation as of and for the years ended March 31, 2007 and 2008 and the six months ended September 30, 2008.

STATUTORY FINANCIAL DATA

National Life Finance Corporation

Balance Sheets

	As of March 31,						As of September 30, 2008
	2008			2007
	(in millions)
Assets:
Loans	¥	7,860,594		¥	8,343,507		¥	7,656,431
General Loans		6,183,796			6,551,155			6,072,318
Environmental Health Business Loans		607,356			679,855			580,019
Loans Secured by Pensions		32,372			35,785			30,949
Loans Secured by Subsidy Bonds		287			260			274
Educational Loans		1,035,896			1,075,393			972,044
Loans by Liabilities for Guarantees		886			1,056			828
Cash on Hand and in Banks		62,476			39,150			32,510
Agency Accounts		2,407			2,470			2,899
Accrued Reserves		10,029			9,949			9,952
Miscellaneous Accounts		1,777			1,701			1,880
Fixed Assets		55,838			55,827			56,723
Deferred Accounts		1,067			949			—
Reserve for Doubtful Accounts		(35,445	)		(34,384	)		(33,302	)
Total Assets	¥	7,958,746		¥	8,419,171		¥	7,727,093
Liabilities and Capital:
Liabilities:
Borrowed Funds	¥	6,050,412		¥	6,454,060		¥	5,923,563
Fiscal Loan Fund		5,722,090			6,125,760			5,595,240
Industrial Investment		22			—			23
General Account		328,300			328,300			328,300
Balance of Bonds		1,500,000			1,570,000			1,400,000
Trusted Funds		0			0			0
Undisbursed Balance of Loans		8,468			13,634			8,423
Accrued Expenses		12,268			9,101			13,088
Miscellaneous Accounts		6,411			2,889			1,812
Total Liabilities		7,577,560			8,049,685			7,345,907
Capital:		381,186			369,486			381,186
Total Capital		381,186			369,486			381,186
Total Liabilities and Capital	¥	7,958,746		¥	8,419,171		¥	7,727,093

14

STATUTORY FINANCIAL DATA

National Life Finance Corporation

Statements of Earnings

	Year ended March 31,					Six months ended September 30, 2008
	2008		2007
	(in millions)
Ordinary Earnings:
Interest on Loans	¥	164,971	¥	162,361		¥	82,530
Interest on General Loans		132,568		128,815			66,684
Interest on Environmental Health Business Loans		12,411		13,950			5,788
Interest on Loans Secured by Pensions		430		376			208
Interest on Loans Secured by Subsidy Bonds		3		2			2
Interest on Educational Loans		19,553		19,208			9,846
Interest on Loans by Liabilities for Guarantees		4		7			2
Commissions Received on Trusted Loans		94		92			46
Transfer from General Account (Subsidy)		5,999		5,216			3,546
Transfer from Special Account for Petroleum (Subsidy)		0		0			0
Interest on Bank Accounts		11		1			17
Profit on Securities		18		5			12
Miscellaneous Income		787		971			580
Reversal of Reserve for Uncollected Accounts		34,384		29,341			35,445
Total	¥	206,266	¥	197,988			122,177
Ordinary Expenses:
Interest on Borrowed Money	¥	46,022	¥	38,212			24,249
Interest on Bonds		14,434		12,522			7,733
Interest on Trusted Money		0		0			0
Commissions Paid		3,044		3,089			1,694
Administrative Expenses		66,699		67,800			33,597
Expenses of Issuing Bonds		548		744			106
Depreciation		39,650		41,161			21,331
Transfer to Reserve for Uncollectable Accounts		35,445		34,384			33,302
Miscellaneous Expenditures		122		128			8
Total		205,969		198,045			122,019
Ordinary Profit		297		(56	)		158
Special Profit		—		356			—
Special Loss:		297		300			158
Current Profit	¥	0	¥	0		¥	0

15

Japan Finance Corporation for Small and Medium Enterprise

The following tables show the summary financial information of the Japan Finance Corporation for Small and Medium Enterprise as of and for the years ended March 31, 2007 and 2008 and the six months ended September 30, 2008.

STATUTORY FINANCIAL DATA

Japan Finance Corporation for Small and Medium Enterprise

Balance Sheets

	As of March 31,						As of September 30, 2008
	2008			2007
	(in millions)
Assets
Loans	¥	6,263,611		¥	6,896,499		¥	5,792,747
Cash and due from banks		471,911			495,242			529,512
Securities		37,829			44,900			33,756
Trust beneficiary rights		7,679			2,805			6,815
Accrued income receivable		7,097			8,019			6,910
Accounts due		9			3			118
Other assets		547			561			527
Fixed assets		25,161			25,610			24,344
Deferred accounts		1,881			2,396			—
Indemnity rights		3,035			1,534			4,073
Customers’ guaranteed liabilities		18,923			34,159			57,487
Reserve for possible loan losses		(16,803	)		(11,770	)		(5,036	)
Reserve for indemnity rights		(3,035	)		(1,534	)		(4,073	)
Total assets	¥	6,817,846		¥	7,498,423		¥	6,447,191
Liabilities and capital
Borrowings	¥	2,560,867		¥	2,675,970		¥	2,636,277
Bonds issued		2,823,929			3,357,129			2,510,629
Undisbursed balance of loans		17,905			16,613			17,227
Accrued expenses payable		11,363			13,350			9,691
Other liabilities		8,007			33,746			11,243
Reserve for outstanding claims		117,696			97,698			144,748
Policy reserve		7			20			5
Unearned guarantee fee		314			675			179
Unearned insurance premium		1,206			2,891			769
Guaranteed liabilities		18,923			34,159			57,487
Total liabilities	¥	5,560,219		¥	6,232,251		¥	5,386,620
Capital for Loan Programs Account	¥	473,435		¥	464,335		¥	476,535
Capital for Securitization Support Programs Account for Purchase-type Operation		24,476			23,258			24,476
Capital for Securitization Support Programs Account for Guarantee-type Operation		16,500			12,000			18,240
Capital for Credit Insurance Programs Account		937,852			860,135			676,977
Capital for Transitional Operation of the Machinery Credit Insurance Programs Account		2,421			2,421			2,421
Capital for Special Insurance Programs for Midsize Enterprises Special Account		71,679			71,679			71,679
Reserve for Securitization Support Programs Account for Purchase-type Operation		42			10			215
Net profit from Securitization Support Programs Account for Purchase-type Operation		347			63			124
Losses Carried Forward for Securitization Support Programs Account for Guarantee-type Operation		(539	)		—			(1,645	)
Net profit from Securitization Support Programs Account for Guarantee-type Operation		(1,105	)		(539	)		(922	)
Net profit from Credit Insurance Programs Account		(277,276	)		(175,383	)		(218,339	)
Reserve for Transitional Operation of the Machinery Credit Insurance Programs Account		8,134			6,152			9,580
Net profit from Transitional Operation of the Machinery Credit Insurance Programs Account		1,446			1,982			852
Reserve for Special Insurance Programs for Midsize Enterprises Special Account		43			29			129
Net profit from Special Insurance Programs for Midsize Enterprises Special Account		171			29			248
Total capital	¥	1,257,627		¥	1,266,172		¥	1,060,571
Total liabilities and capital	¥	6,817,846		¥	7,498,423		¥	6,447,191

16

STATUTORY FINANCIAL DATA

Japan Finance Corporation for Small and Medium Enterprise

Statements of Earnings

	Year ended March 31,						Six months ended September 30, 2008
	2008			2007
	(in millions)
Ordinary Income	¥	605,830		¥	629,606		¥	354,000
Interest on loans		111,859			116,367			53,579
Interest on trust beneficiary rights		122			55			60
Guarantee fee		475			573			151
Insurance premium		165,441			162,299			82,077
Recoveries from insurance money paid		167,429			186,464			74,304
Trust fee		245			187			116
Receipts from general account of the national budget		42,049			44,210			3,147
Receipts from special account for Promotion Measures for Electric Power Resources Development		—			11			—
Receipts from special account for Development Measures of Supply and Demand Structure of Petroleum and Energy		—			8			—
Receipts from the Account for Energy Measures		18			—			8
Interest on deposits		2,189			1,129			1,039
Interest and profit on securities		775			666			341
Other		1,315			1,514			430
Reversal of reserve for possible loan losses		11,770			6,260			16,803
Reversal of reserve for indemnity rights		1,534			302			3,035
Reversal of reserve for outstanding claims		97,698			103,473			117,696
Reversal of policy reserve		20			248			7
Reversal of unearned insurance premium		2,891			5,839			1,206
Ordinary expenses	¥	882,249		¥	803,374		¥	571,920
Interest on borrowings		21,433			17,057			11,487
Interest on bonds		38,110			46,888			17,141
Other interest paid		2			0			0
Insurance claims		582,507			522,501			343,041
Business consignment expenses		1,997			1,585			1,029
Administrative expenses		33,922			34,138			17,812
Bond issuing expenses		945			1,381			321
Depreciation and amortization		64,507			65,796			26,457
Provision for possible loan losses		16,803			11,770			5,036
Provision for reserve for indemnity rights		3,035			1,534			4,073
Provision for reserve for outstanding claims		117,696			97,698			144,748
Provision for policy reserve		7			20			5
Provision for unearned insurance premium		1,206			2,891			769
Other		80			116			1
Ordinary profit	¥	(276,419	)	¥	(173,767	)	¥	(217,920	)
Extraordinary profits
Profit on sales of fixed assets		24			30			413
Extraordinary losses		21			111			530
Losses on sales of fixed assets		0			11			481
Losses on disposal of fixed assets		21			100			49
Net profit from Loan Programs Account		0			0			0
Net profit from Securitization Support Programs Account for Purchase-type Operation		347			63			124
Net profit from Securitization Support Programs Account for Guarantee-type Operation		(1,105	)		(539	)		(922	)
Net profit from Credit Insurance Programs Account		(277,276	)		(175,383	)		(218,339	)
Net profit from Transitional Operation of the Machinery Credit Insurance Programs Account		1,446			1,982			852
Net profit from Special Insurance Programs for Midsize Enterprises Special Account		171			29			248

17

Agriculture, Forestry and Fisheries Finance Corporation

The following tables show the summary financial information of the Agriculture, Forestry and Fisheries Finance Corporation as of and for the years ended March 31, 2007 and 2008 and the six months ended September 30, 2008.

STATUTORY FINANCIAL DATA

Agriculture, Forestry and Fisheries Finance Corporation

Balance Sheets

	As of March 31,						As of September 30, 2008
	2008			2007
	(in millions)
Assets:
Cash and Cash Equivalents	¥	31,508		¥	38,898		¥	14,131
Loans		2,823,225			2,942,501			2,806,601
Investments		2,030			2,030			2,030
Securities		95			194			—
Deposits		6,500			6,500			6,500
Trustee Accounts		2,134			1,504			1,725
Accrued Interest Income		16,367			17,993			27,811
Miscellaneous Assets		150			188			164
Premises and Equipment		12,441			12,572			12,520
Deferred Charges		102			92			—
Allowance for Possible Loan and Investment Losses		(16,684	)		(17,236	)		(16,684	)
Total Assets	¥	2,877,870		¥	3,005,239		¥	2,854,798
Liabilities and Capital:
Liabilities:
Borrowings	¥	2,345,046		¥	2,442,139		¥	2,316,996
Bonds and Notes		130,000			139,000			140,000	��
Trusted Funds		35,852			32,050			36,145
Undisbursed Balance of Loans		34,754			57,570			25,892
Accrued Expenses		14,071			15,903			15,337
Miscellaneous Liabilities		1,449			1,707			1,612
Total Liabilities		2,560,903			2,688,372			2,535,887
Capital:
Capital		316,967			316,867			316,967
Net Earnings for the Period		0			0			1,944
Total Capital		316,967			316,867			318,911
Total Liabilities and Capital	¥	2,877,870		¥	3,005,239		¥	2,854,798

18

STATUTORY FINANCIAL DATA

Agriculture, Forestry and Fisheries Finance Corporation

Statements of Earnings

	Year ended March 31,					Six months ended September 30, 2008
	2008		2007
	(in millions)
Ordinary Earnings:
Interest on Loans	¥	60,995	¥	65,654		¥	31,399
Transfer from General Account		35,523		38,132			13,574
Interest on Deposits		45		12			18
Interest on Bank Accounts		38		38			7
Profit on Securities		2		2			3
Miscellaneous Income		2,069		1,760			1,700
Reversal of Allowance for Possible Loan and Investment Losses		17,236		14,852			16,685
Total	¥	115,910	¥	120,453		¥	63,387
Ordinary Expenses:
Interest on Borrowings	¥	60,773	¥	69,662		¥	26,951
Interest on Bonds and Notes		2,346		2,004			1,251
Business Consignment Expenses		9,055		8,500			4,477
Administrative Expenses		14,093		13,917			7,354
Expenses of Issuing Bonds		100		125			47
Depreciation		12,747		8,946			4,605
Provision for Allowance for Possible Loan and Investment Losses		16,684		17,236			16,684
Other Expenses		82		113			36
Total		115,883		120,506			61,405
Ordinary Profit		26		(52	)
Extraordinary Profit		0		85			1
Extraordinary Loss		26		32			38
Net Earnings	¥	0	¥	0		¥	1,944

19