Aflac 2009 Annual Report Download - page 13

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¥140
Yen/Dollar Exchange Rate
(Closing rates)
The average yen/dollar exchange rate strengthened
10.7% in 2009, which magnified Aflac Japan’s
growth rates in dollar terms.
Japan’s income statement from yen
into dollars using an average exchange
rate. Since Aac Japan is responsible for
the majority of the amounts reported in
our consolidated nancial statements,
uctuations in the value of the yen can
signicantly affect our results as reported
in dollars.
Translating Aac Japan’s results from
yen into dollars means that growth
Aflac will be there for you in your time of need.
Yasuyuki Ohtsuka and Koji Ariji are
employees for Higashin, a shinkin bank that
serves local residents and small and medium
businesses in the area just outside the hustle
and bustle of Tokyo. Yasuyuki and Koji have
forged many strong relationships with their
customers. 2008 marked the first year banks
could begin offering the types of products
Aflac sells to their own customers, so now
Yasuyuki and Koji’s customers look to them to
suggest products that can provide solutions to
help mitigate the financial burden of medical
costs. A usual day on the job means Yasuyuki
and Koji visit prospective customers on their
bikes, explaining how Aflac products offer
peace of mind and valuable cash benefits.
They find that many of their customers
are very interested to learn more about
our cancer and medical products, as well as
our more recent child endowment product.
Pictured below, the duo visit with a proprietor
of a tofu manufacturer/retailer to explain how
Aflac products can protect them.
rates are magnied in dollar terms
when the yen strengthens against the
dollar, compared with the preceding
year. Conversely, growth rates in dollar
terms are suppressed when the yen
weakens against the dollar, compared
with the preceding year. In 2009, the yen
averaged 93.49 to the dollar, or 10.7%
stronger than the average of 103.46 in
2008, enhancing our reported results in
dollar terms.
• Premium income rose 14.1% to
$12.2 billion, up from $10.7 billion
in 2008.
• Total revenues were up 13.7%
to $14.5 billion, compared with
$12.7 billion in 2008.
• Pretax operating earnings
increased 24.4% to $2.8 billion
from $2.2 billion in 2008.
Aflac Annual Report for 2009 9