Cover Page
Cover Page | 9 Months Ended |
Dec. 31, 2019 | |
Cover [Abstract] | |
Document Type | 6-K |
Amendment Flag | false |
Document Period End Date | Dec. 31, 2019 |
Document Fiscal Year Focus | 2019 |
Entity Registrant Name | ORIX CORP |
Entity Central Index Key | 0001070304 |
Current Fiscal Year End Date | --03-31 |
Document Fiscal Period Focus | Q3 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - JPY (¥) ¥ in Millions | Dec. 31, 2019 | Mar. 31, 2019 |
Assets | ||
Cash and cash equivalents | ¥ 902,312 | ¥ 1,161,032 |
Restricted Cash | 118,297 | 122,548 |
Investment in Direct Financing Leases | 0 | 1,155,632 |
Net Investment in Leases | 1,142,339 | 0 |
Installment Loans The amounts which are measured at fair value by electing the fair value option are as follows: March 31, 2019 ¥38,671 million December 31, 2019 ¥43,238 million | 3,615,530 | 3,277,670 |
Allowance for Doubtful Receivables on Finance Leases and Probable Loan Losses | (56,922) | (58,011) |
Investment in Operating Leases | 1,505,253 | 1,335,959 |
Investment in Securities The amounts which are measured at fair value by electing the fair value option are as follows: March 31, 2019 ¥27,367 million December 31, 2019 ¥25,583 million | 2,228,604 | 1,928,916 |
Property under Facility Operations | 524,692 | 441,632 |
Investment in Affiliates | 821,983 | 842,760 |
Trade Notes, Accounts and Other Receivable | 276,405 | 280,590 |
Inventories | 131,958 | 115,695 |
Office Facilities | 198,427 | 108,390 |
Other | 1,434,080 | 1,462,104 |
Total Assets | 12,842,958 | 12,174,917 |
Liabilities: | ||
Short-Term Debt | 384,132 | 309,549 |
Deposits | 2,169,106 | 1,927,741 |
Trade Notes, Accounts and Other Payable | 226,900 | 293,480 |
Policy Liabilities and Policy Account Balances The amounts which are measured at fair value by electing the fair value option are as follows: March 31, 2019 ¥360,198 million December 31, 2019 ¥333,017 million | 1,574,160 | 1,521,355 |
Income Taxes: | ||
Current and Deferred Income Taxes | 370,842 | 355,843 |
Long-term Debt | 4,119,179 | 4,186,222 |
Other Liabilities | 909,212 | 617,746 |
Total Liabilities | 9,753,531 | 9,211,936 |
Redeemable Noncontrolling Interests | 9,720 | 9,780 |
Commitments and Contingent Liabilities | ||
Equity: | ||
Common stock | 221,111 | 221,111 |
Additional Paid-in Capital | 258,271 | 257,625 |
Retained Earnings | 2,696,080 | 2,555,585 |
Accumulated Other Comprehensive Income (Loss) | (77,906) | (61,343) |
Treasury Stock, at Cost: | (89,146) | (75,904) |
ORIX Corporation Shareholders' Equity | 3,008,410 | 2,897,074 |
Noncontrolling Interests | 71,297 | 56,127 |
Total Equity | 3,079,707 | 2,953,201 |
Total Liabilities and Equity | 12,842,958 | 12,174,917 |
Variable Interest Entity, Primary Beneficiary | ||
Assets | ||
Cash and cash equivalents | 4,343 | 4,437 |
Investment in Direct Financing Leases | 0 | 15,058 |
Net Investment in Leases | 5,718 | 0 |
Installment Loans (Net of Allowance for Doubtful Receivables on Finance Leases and Probable Loan Losses) | 202,697 | 185,988 |
Investment in Operating Leases | 83,939 | 82,405 |
Property under Facility Operations | 295,130 | 203,933 |
Investment in Affiliates | 51,608 | 52,079 |
Other | 106,311 | 100,101 |
Total Assets | 749,746 | 644,001 |
Liabilities: | ||
Short-Term Debt | 4,651 | 580 |
Trade Notes, Accounts and Other Payable | 3,328 | 7,339 |
Income Taxes: | ||
Long-term Debt | 441,162 | 418,631 |
Other Liabilities | 46,431 | 16,480 |
Total Liabilities | ¥ 495,572 | ¥ 443,030 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - JPY (¥) ¥ in Millions | Dec. 31, 2019 | Mar. 31, 2019 |
Statement of Financial Position [Abstract] | ||
Installment Loans, fair value | ¥ 43,238 | ¥ 38,671 |
Investment in securities, measured at fair value | 25,583 | 27,367 |
Other assets, measured at fair value | 9,219 | 12,449 |
Policy Liabilities and Policy Account Balances | ¥ 333,017 | ¥ 360,198 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | |
Revenues: | ||||
Total revenues | ¥ 571,701 | ¥ 534,141 | ¥ 1,684,379 | ¥ 1,796,155 |
Expenses: | ||||
Interest expense | 23,763 | 25,528 | 74,006 | 67,376 |
Costs of operating leases | 66,388 | 64,127 | 197,309 | 191,493 |
Life insurance costs | 78,177 | 27,065 | 209,137 | 152,799 |
Costs of goods and real estate sold | 85,705 | 110,497 | 245,747 | 415,810 |
Services expense | 119,772 | 127,673 | 367,521 | 375,245 |
Other (income) and expense, net | 644 | 745 | (131) | 242 |
Selling, general and administrative expenses | 116,563 | 109,438 | 337,754 | 320,084 |
Provision for doubtful receivables and probable loan losses | 5,151 | 5,865 | 15,724 | 14,075 |
Write-downs of long-lived assets | 518 | 0 | 554 | 26 |
Write-downs of securities | 0 | 113 | 36 | 821 |
Total expenses | 496,681 | 471,051 | 1,447,657 | 1,537,971 |
Operating Income | 75,020 | 63,090 | 236,722 | 258,184 |
Equity in Net Income of Affiliates | 21,609 | 9,695 | 54,226 | 16,514 |
Gains on Sales of Subsidiaries and Affiliates and Liquidation Losses, net | 25,200 | 1,438 | 58,488 | 20,470 |
Bargain Purchase Gain | 1,022 | 0 | ||
Income before Income Taxes | 121,829 | 74,223 | 350,458 | 295,168 |
Provision for Income Taxes | 35,684 | (8,186) | 102,649 | 56,140 |
Net Income | 86,145 | 82,409 | 247,809 | 239,028 |
Net Income Attributable to the Noncontrolling Interests | 939 | 903 | 3,131 | 2,387 |
Net Income Attributable to the Redeemable Noncontrolling Interests | 37 | 349 | 359 | 434 |
Net Income Attributable to ORIX Corporation Shareholders | ¥ 85,169 | ¥ 81,157 | ¥ 244,319 | ¥ 236,207 |
Basic: | ||||
Net Income Attributable to ORIX Corporation Shareholders | ¥ 66.64 | ¥ 63.41 | ¥ 190.99 | ¥ 184.53 |
Diluted: | ||||
Net Income Attributable to ORIX Corporation Shareholders | ¥ 66.58 | ¥ 63.35 | ¥ 190.82 | ¥ 184.38 |
Finance Revenues | ||||
Revenues: | ||||
Total revenues | ¥ 64,380 | ¥ 62,599 | ¥ 190,504 | ¥ 179,951 |
Gains (losses) on investment securities and dividends | ||||
Revenues: | ||||
Total revenues | 7,285 | (6,968) | 27,666 | 4,767 |
Operating Leases | ||||
Revenues: | ||||
Total revenues | 100,743 | 104,346 | 303,148 | 313,321 |
Life Insurance Premiums And Related Investment Income | ||||
Revenues: | ||||
Total revenues | 108,188 | 47,416 | 290,656 | 228,020 |
Sales of Goods and Real Estate | ||||
Revenues: | ||||
Total revenues | 95,633 | 122,438 | 280,127 | 453,199 |
Services Income | ||||
Revenues: | ||||
Total revenues | ¥ 195,472 | ¥ 204,310 | ¥ 592,278 | ¥ 616,897 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | |
Statement of Comprehensive Income [Abstract] | ||||
Net Income | ¥ 86,145 | ¥ 82,409 | ¥ 247,809 | ¥ 239,028 |
Other comprehensive income (loss), net of tax: | ||||
Net change of unrealized gains (losses) on investment in securities | (3,627) | (229) | 1,277 | (1,835) |
Net change of debt valuation adjustments | (68) | 384 | 136 | 303 |
Net change of defined benefit pension plans | (294) | 206 | 492 | 5 |
Net change of foreign currency translation adjustments | 21,460 | (19,918) | (16,585) | (5,129) |
Net change of unrealized gains (losses) on derivative instruments | 2,168 | (754) | (3,560) | (64) |
Total other comprehensive income (loss) | 19,639 | (20,311) | (18,240) | (6,720) |
Comprehensive Income | 105,784 | 62,098 | 229,569 | 232,308 |
Comprehensive Income Attributable to the Noncontrolling Interests | 1,211 | 496 | 1,584 | 2,299 |
Comprehensive Income Attributable to the Redeemable Noncontrolling Interests | 182 | 173 | 229 | 760 |
Comprehensive Income Attributable to ORIX Corporation Shareholders | ¥ 104,391 | ¥ 61,429 | ¥ 227,756 | ¥ 229,249 |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - JPY (¥) ¥ in Millions | Total | Common Stock | Additional Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Treasury Stock | Total ORIX Corporation Shareholders' Equity | Noncontrolling Interests |
Beginning Balance at Mar. 31, 2018 | ¥ 2,798,874 | ¥ 220,961 | ¥ 267,291 | ¥ 2,315,283 | ¥ (45,566) | ¥ (75,545) | ¥ 2,682,424 | ¥ 116,450 |
Cumulative effect of adopting Accounting Standards Update (Accounting Standards Update 2014-09) at Mar. 31, 2018 | 759 | 405 | 405 | 354 | ||||
Cumulative effect of adopting Accounting Standards Update (Accounting Standards Update 2016-01) at Mar. 31, 2018 | 0 | 2,899 | (2,899) | 0 | 0 | |||
Cumulative effect of adopting Accounting Standards Update (Accounting Standards Update 2016-16) at Mar. 31, 2018 | 3,772 | 3,772 | 3,772 | 0 | ||||
Adjusted balance at Mar. 31, 2018 | 2,803,405 | 220,961 | 267,291 | 2,322,359 | (48,465) | (75,545) | 2,686,601 | 116,804 |
Contribution to subsidiaries | 3,420 | 0 | 3,420 | |||||
Transaction with noncontrolling interests | (58,334) | (9,866) | (40) | (9,906) | (48,428) | |||
Comprehensive income, net of tax: | ||||||||
Net income | 238,594 | 236,207 | 236,207 | 2,387 | ||||
Other comprehensive income (loss) | ||||||||
Net change of unrealized gains (losses) on investment in securities | (1,835) | (1,835) | (1,835) | 0 | ||||
Net change of debt valuation adjustments | 303 | 303 | 303 | 0 | ||||
Net change of defined benefit pension plans | 5 | 4 | 4 | 1 | ||||
Net change of foreign currency translation adjustments | (5,455) | (5,353) | (5,353) | (102) | ||||
Net change of unrealized gains (losses) on derivative instruments | (64) | (77) | (77) | 13 | ||||
Total other comprehensive income (loss) | (7,046) | (6,958) | (88) | |||||
Total comprehensive income | 231,548 | 229,249 | 2,299 | |||||
Cash dividends | (96,681) | (88,438) | (88,438) | (8,243) | ||||
Exercise of stock options | 225 | 150 | 75 | 225 | 0 | |||
Acquisition of treasury stock | (706) | (706) | (706) | 0 | ||||
Disposal of treasury stock | 115 | (233) | 348 | 115 | 0 | |||
Other, net | 358 | 358 | 358 | 0 | ||||
Ending Balance at Dec. 31, 2018 | 2,883,350 | 221,111 | 257,625 | 2,470,128 | (55,463) | (75,903) | 2,817,498 | 65,852 |
Beginning Balance at Sep. 30, 2018 | 2,929,899 | 221,111 | 267,033 | 2,427,424 | (35,696) | (75,903) | 2,803,969 | 125,930 |
Contribution to subsidiaries | 336 | 0 | 336 | |||||
Transaction with noncontrolling interests | (65,865) | (9,574) | (39) | (9,613) | (56,252) | |||
Comprehensive income, net of tax: | ||||||||
Net income | 82,060 | 81,157 | 81,157 | 903 | ||||
Other comprehensive income (loss) | ||||||||
Net change of unrealized gains (losses) on investment in securities | (229) | (229) | (229) | 0 | ||||
Net change of debt valuation adjustments | 384 | 384 | 384 | 0 | ||||
Net change of defined benefit pension plans | 206 | 203 | 203 | 3 | ||||
Net change of foreign currency translation adjustments | (19,742) | (19,356) | (19,356) | (386) | ||||
Net change of unrealized gains (losses) on derivative instruments | (754) | (730) | (730) | (24) | ||||
Total other comprehensive income (loss) | (20,135) | (19,728) | (407) | |||||
Total comprehensive income | 61,925 | 61,429 | 496 | |||||
Cash dividends | (43,112) | (38,454) | (38,454) | (4,658) | ||||
Acquisition of treasury stock | 0 | 0 | 0 | 0 | ||||
Disposal of treasury stock | 0 | 0 | 0 | 0 | 0 | |||
Other, net | 167 | 166 | 1 | 167 | 0 | |||
Ending Balance at Dec. 31, 2018 | 2,883,350 | 221,111 | 257,625 | 2,470,128 | (55,463) | (75,903) | 2,817,498 | 65,852 |
Beginning Balance at Mar. 31, 2019 | 2,953,201 | 221,111 | 257,625 | 2,555,585 | (61,343) | (75,904) | 2,897,074 | 56,127 |
Contribution to subsidiaries | 15,756 | 0 | 15,756 | |||||
Transaction with noncontrolling interests | 153 | 196 | 196 | (43) | ||||
Comprehensive income, net of tax: | ||||||||
Net income | 247,450 | 244,319 | 244,319 | 3,131 | ||||
Other comprehensive income (loss) | ||||||||
Net change of unrealized gains (losses) on investment in securities | 1,277 | 1,283 | 1,283 | (6) | ||||
Net change of debt valuation adjustments | 136 | 136 | 136 | 0 | ||||
Net change of defined benefit pension plans | 492 | 493 | 493 | (1) | ||||
Net change of foreign currency translation adjustments | (16,455) | (14,914) | (14,914) | (1,541) | ||||
Net change of unrealized gains (losses) on derivative instruments | (3,560) | (3,561) | (3,561) | 1 | ||||
Total other comprehensive income (loss) | (18,110) | (16,563) | (1,547) | |||||
Total comprehensive income | 229,340 | 227,756 | 1,584 | |||||
Cash dividends | (105,951) | (103,824) | (103,824) | (2,127) | ||||
Acquisition of treasury stock | (13,285) | (13,285) | (13,285) | 0 | ||||
Disposal of treasury stock | 14 | (29) | 43 | 14 | 0 | |||
Other, net | 479 | 479 | 479 | 0 | ||||
Ending Balance at Dec. 31, 2019 | 3,079,707 | 221,111 | 258,271 | 2,696,080 | (77,906) | (89,146) | 3,008,410 | 71,297 |
Beginning Balance at Sep. 30, 2019 | 3,027,716 | 221,111 | 258,178 | 2,655,773 | (97,128) | (75,861) | 2,962,073 | 65,643 |
Contribution to subsidiaries | 3,944 | 0 | 3,944 | |||||
Transaction with noncontrolling interests | 1,619 | 8 | 8 | 1,611 | ||||
Comprehensive income, net of tax: | ||||||||
Net income | 86,108 | 85,169 | 85,169 | 939 | ||||
Other comprehensive income (loss) | ||||||||
Net change of unrealized gains (losses) on investment in securities | (3,627) | (3,628) | (3,628) | 1 | ||||
Net change of debt valuation adjustments | (68) | (68) | (68) | 0 | ||||
Net change of defined benefit pension plans | (294) | (293) | (293) | (1) | ||||
Net change of foreign currency translation adjustments | 21,315 | 21,115 | 21,115 | 200 | ||||
Net change of unrealized gains (losses) on derivative instruments | 2,168 | 2,096 | 2,096 | 72 | ||||
Total other comprehensive income (loss) | 19,494 | 19,222 | 272 | |||||
Total comprehensive income | 105,602 | 104,391 | 1,211 | |||||
Cash dividends | (45,974) | (44,862) | (44,862) | (1,112) | ||||
Acquisition of treasury stock | (13,285) | (13,285) | (13,285) | 0 | ||||
Disposal of treasury stock | 0 | 0 | 0 | |||||
Other, net | 85 | 85 | 85 | 0 | ||||
Ending Balance at Dec. 31, 2019 | ¥ 3,079,707 | ¥ 221,111 | ¥ 258,271 | ¥ 2,696,080 | ¥ (77,906) | ¥ (89,146) | ¥ 3,008,410 | ¥ 71,297 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - JPY (¥) ¥ in Millions | 9 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Cash Flows from Operating Activities: | ||
Net income | ¥ 247,809 | ¥ 239,028 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 223,844 | 217,993 |
Principal payments received under net investment in leases | 342,961 | 0 |
Provision for doubtful receivables and probable loan losses | 15,724 | 14,075 |
Equity in net income of affiliates (excluding interest on loans) | (52,685) | (13,793) |
Gains on sales of subsidiaries and affiliates and liquidation losses, net | (58,488) | (20,470) |
Bargain purchase gain | (1,022) | 0 |
Gains on sales of securities other than trading | (16,961) | (6,685) |
Gains on sales of operating lease assets | (37,278) | (50,445) |
Write-downs of long-lived assets | 554 | 26 |
Write-downs of securities | 36 | 821 |
Decrease in trading securities | 18,489 | 61,607 |
Increase in inventories | (9,546) | (24,011) |
Decrease (Increase) in trade notes, accounts and other receivable | (676) | 2,486 |
Decrease in trade notes, accounts and other payable | (41,358) | (28,794) |
Increase (Decrease) in policy liabilities and policy account balances | 52,805 | (21,596) |
Other, net | 36,481 | 11,368 |
Net cash provided by operating activities | 720,689 | 381,610 |
Cash Flows from Investing Activities: | ||
Purchases of lease equipment | (733,861) | (759,080) |
Principal payments received under direct financing leases | 0 | 351,947 |
Installment loans made to customers | (1,152,489) | (1,075,480) |
Principal collected on installment loans | 824,870 | 953,742 |
Proceeds from sales of operating lease assets | 221,689 | 358,586 |
Investment in affiliates, net | (25,467) | (287,822) |
Proceeds from sales of investment in affiliates | 67,865 | 44,705 |
Purchases of available-for-sale debt securities | (582,552) | (412,247) |
Proceeds from sales of available-for-sale debt securities | 210,817 | 190,698 |
Proceeds from redemption of available-for-sale debt securities | 67,905 | 59,943 |
Purchases of equity securities other than trading | (29,753) | (56,741) |
Proceeds from sales of equity securities other than trading | 27,279 | 68,030 |
Purchases of property under facility operations | (24,915) | (51,139) |
Acquisitions of subsidiaries, net of cash acquired | (11,390) | (116,545) |
Sales of subsidiaries, net of cash disposed | 72,710 | (39) |
Other, net | (20,363) | 34,181 |
Net cash used in investing activities | (1,087,655) | (697,261) |
Cash Flows from Financing Activities: | ||
Net increase in debt with maturities of three months or less | 60,958 | 187,445 |
Proceeds from debt with maturities longer than three months | 518,207 | 758,286 |
Repayment of debt with maturities longer than three months | (612,954) | (677,665) |
Net increase in deposits due to customers | 241,520 | 126,669 |
Cash dividends paid to ORIX Corporation shareholders | (103,824) | (88,438) |
Acquisition of treasury stock | (13,285) | (706) |
Contribution from noncontrolling interests | 19,355 | 14,104 |
Purchases of shares of subsidiaries from noncontrolling interests | (3,506) | (69,508) |
Net increase in call money | 5,000 | 5,000 |
Other, net | (2,965) | (8,448) |
Net cash provided by financing activities | 108,506 | 246,739 |
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash | (4,511) | (1,006) |
Net decrease in Cash, Cash Equivalents and Restricted Cash | (262,971) | (69,918) |
Cash, Cash Equivalents and Restricted Cash at Beginning of Period | 1,283,580 | 1,405,117 |
Cash, Cash Equivalents and Restricted Cash at End of Period | ¥ 1,020,609 | ¥ 1,335,199 |
CONSOLIDATED STATEMENTS OF CA_2
CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - JPY (¥) ¥ in Millions | Dec. 31, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2018 |
Statement of Cash Flows [Abstract] | ||||
Cash and Cash Equivalents | ¥ 902,312 | ¥ 1,161,032 | ¥ 1,215,907 | |
Restricted Cash | 118,297 | 122,548 | 119,292 | |
Cash, Cash Equivalents and Restricted Cash | ¥ 1,020,609 | ¥ 1,283,580 | ¥ 1,335,199 | ¥ 1,405,117 |
Overview of Accounting Principl
Overview of Accounting Principles Utilized | 9 Months Ended |
Dec. 31, 2019 | |
Accounting Policies [Abstract] | |
Overview of Accounting Principles Utilized | Notes to Consolidated Financial Statements 1. Overview of Accounting Principles Utilized In preparing the accompanying consolidated financial statements, ORIX Corporation (the “Company”) and its subsidiaries have complied with generally accepted accounting principles in the United States (“U.S. GAAP”), except for the accounting for stock splits. These statements include all adjustments (consisting of normal recurring accruals) that we considered necessary to present a fair statement of our results of operations, financial position and cash flows. The results reported in these consolidated financial statements should not be regarded as necessarily indicative of results that may be expected for the entire year. These consolidated financial statements should be read in conjunction with the financial statements and notes thereto included in our March 31, 2019 consolidated financial statements on Form 20-F. Since the Company listed on the New York Stock Exchange in September 1998, the Company has filed the annual report (Form 20-F) Significant differences between U.S. GAAP and generally accepted accounting principles in Japan (“Japanese GAAP”) are as follows: (a) Revenue recognition for revenue from contracts with customers Under U.S. GAAP, revenues from contracts with customers such as sales of goods and real estate, and services income are recognized to depict the transfer of promised goods or services to customers in the amounts that reflect the consideration to which the entity expects to be entitled in exchange for those goods or services. Under Japanese GAAP, revenues are generally recognized when cash or monetary assets are received as a consideration by sales of goods or rendering of services in accordance with realization principle. (b) Initial direct costs Under U.S. GAAP, initial direct costs of sales-type leases and direct financing leases are mainly being deferred and amortized as a yield adjustment over the life of the related lease by using interest method. Initial direct costs of operating leases are being deferred and amortized as a straight-line basis over the life of the related lease. Under Japanese GAAP, those initial direct costs are recognized as expenses when they are incurred. (c) Operating leases Under U.S. GAAP, revenues from operating leases are recognized on a straight-line basis over the contract terms. Operating lease assets are depreciated over their estimated useful lives mainly on a straight-line basis. Japanese GAAP allows for operating lease assets to be depreciated using mainly either a declining-balance basis or a straight-line basis. (d) Accounting for life insurance operations Under U.S. GAAP, certain costs related directly to the successful acquisition of new (or renewal of) insurance contracts are deferred and amortized over the respective policy periods in proportion to anticipated premium revenue. Under Japanese GAAP, such costs are recorded as expenses currently in earnings in each accounting period. In addition, under U.S. GAAP, policy liabilities for future policy benefits are established using the net level premium method based on actuarial estimates of the amount of future policyholder benefits. Under Japanese GAAP, these are calculated by the methodology which relevant authorities accept. (e) Accounting for goodwill and other intangible assets in business combinations Under U.S. GAAP, goodwill and indefinite-lived intangible assets are not amortized, but assessed for impairment at least annually. Additionally, if events or changes in circumstances indicate that the asset might be impaired, the Company and its subsidiaries test for impairment when such events or changes occur. Under Japanese GAAP, goodwill is amortized over an appropriate period up to 20 years. (f) Accounting for pension plans Under U.S. GAAP, the net actuarial gain (loss) is amortized using the corridor approach. Under Japanese GAAP, the net actuarial gain (loss) is fully amortized over a certain term within the average remaining service period of employees. (g) Partial sale of the parent’s ownership interest in subsidiaries Under U.S. GAAP, in a transaction that results in the loss of control, the gain or loss recognized in income includes the realized gain or loss related to the portion of ownership interest sold and the gain or loss on the remeasurement to fair value of the interest retained. Under Japanese GAAP, in a transaction that results in the loss of control, only the realized gain or loss related to the portion of ownership interest sold is recognized in income and the gain or loss on the remeasurement to fair value of the interest retained is not recognized. (h) Consolidated statements of cash flows Classification in the statements of cash flows under U.S. GAAP differs from that under Japanese GAAP. As significant differences, purchase of lease equipment, proceeds from sales of operating lease assets, installment loans made to customers and principal collected on installment loans (excluding issues and collections of loans held for sale) are included in “Cash Flows from Investing Activities” under U.S. GAAP while they are classified as “Cash Flows from Operating Activities” under Japanese GAAP. Under U.S. GAAP, in addition, restricted cash is required to be added to the balance of cash and cash equivalents. (i) Transfer of financial assets Under U.S. GAAP, an entity is required to perform analysis to determine whether or not to consolidate trusts or special-purpose companies, collectively special-purpose entities (“SPEs”) for securitization under the VIE’s consolidation rules. As a result of the analysis, if it is determined that the enterprise transferred financial assets in a securitization transaction to an SPE that needs to be consolidated, the transaction is not accounted for as a sale. In addition, if the transferor transfers a portion of financial assets, the transaction is not accounted for as a sale but accounted for as a secured borrowing unless each interest held by the transferor and transferee meets the definition of a participating interest and the transfer of a portion of financial assets meets criteria for derecognition of transferred financial assets. Under Japanese GAAP, an SPE that meets certain conditions may be considered not to be a subsidiary of the transferor. Therefore, if an enterprise transfers financial assets to this type of SPE in a securitization transaction, the transferee SPE is not required to be consolidated, and the enterprise accounts for the transaction as a sale and recognizes a gain or loss on the sale into earnings when control over the transferred assets is surrendered. In addition, if the transferor transfers a portion of financial assets, the enterprise accounts for the transaction as a sale and recognizes a gain or loss on the sale into earnings when the transfer of a portion of financial assets meets criteria for derecognition of transferred financial assets. (j) Investment in securities Under U.S. GAAP, unrealized gains and losses from all of equity securities are generally recognized in income. Under Japanese GAAP, such unrealized gains and losses from equity securities other than trading are to be recognized in other comprehensive income (loss), net of applicable income taxes. (k) Fair value option Under U.S. GAAP, an entity is permitted to carry certain eligible financial assets and liabilities at fair value and to recognize changes in that item’s fair value in earnings through the election of the fair value option. The portion of the total change in the fair value of the financial liability that results from a change in the instrument-specific credit risk is to be recognized in other comprehensive income (loss), net of applicable income taxes. Under Japanese GAAP, there is no accounting standard for fair value option. (l) Lessee’s lease Under U.S. GAAP, right-of-use Under Japanese GAAP, operating leases from the lessee’s lease transaction are off-balance |
Significant Accounting and Repo
Significant Accounting and Reporting Policies | 9 Months Ended |
Dec. 31, 2019 | |
Accounting Policies [Abstract] | |
Significant Accounting and Reporting Policies | 2. Significant Accounting and Reporting Policies (a) Principles of consolidation The consolidated financial statements include the accounts of the Company and all of its subsidiaries. Investments in affiliates, where the Company has the ability to exercise significant influence by way of 20% – 50% ownership or other means, are accounted for by using the equity method. Where the Company holds majority voting interests but noncontrolling shareholders have substantive participating rights to decisions that occur as part of the ordinary course of their business, the equity method is applied. In addition, the consolidated financial statements include VIEs to which the Company and its subsidiaries are primary beneficiaries. A lag period of up to three months is used on a consistent basis for recognizing the results of certain subsidiaries and affiliates. All significant intercompany accounts and transactions have been eliminated in consolidation. (b) Use of estimates The preparation of consolidated financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The Company has identified ten areas where it believes assumptions and estimates are particularly critical to the financial statements. The Company makes estimates and assumptions to the selection of valuation techniques and determination of assumptions used in fair value measurements, the determination and periodic reassessment of the unguaranteed residual value for finance leases and operating leases, the determination and reassessment of insurance policy liabilities and deferred policy acquisition costs, the determination of the allowance for doubtful receivables on finance leases and probable loan losses, the recognition and measurement of impairment of long-lived assets, the recognition and measurement of impairment of investment in securities, the determination of the valuation allowance for deferred tax assets and the evaluation of tax positions, the assessment and measurement of effectiveness in hedging relationship using derivative financial instruments, the determination of benefit obligation and net periodic pension cost and the recognition and measurement of impairment of goodwill and indefinite-lived intangible assets. (c) Foreign currencies translation The Company and its subsidiaries maintain their accounting records in their functional currency. Transactions in foreign currencies are recorded in the entity’s functional currency based on the prevailing exchange rates on the transaction date. Monetary assets and liabilities in foreign currencies are recorded in the entity’s functional currency based on the prevailing exchange rates at the end of each fiscal year. The financial statements of overseas subsidiaries and affiliates are translated into Japanese yen by applying the exchange rates in effect at the end of each fiscal year to all assets and liabilities. Income and expenses are translated at the average rates of exchange prevailing during the fiscal year. The currencies in which the operations of the overseas subsidiaries and affiliates are conducted are regarded as the functional currencies of these companies. Foreign currency translation adjustments reflected in other comprehensive income (loss), net of applicable income taxes, arise from the translation of foreign currency financial statements into Japanese yen. (d) Revenue recognition The Company and its subsidiaries recognize revenues from only contracts with customers, such as sales of goods and real estate, and services income, based on the following five steps; Step 1: Identify the contract(s) with a customer Step 2: Identify the performance obligations in the contract Step 3: Determine the transaction price Step 4: Allocate the transaction price to the performance obligations in the contract Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation In accordance with these steps, revenues are recognized to depict the transfer of promised goods or services to customers in the amounts that reflect the consideration to which the entity expects to be entitled in exchange for those goods or services. Revenues are recognized net of discount, incentives and estimated sales returns. In case that the Company and its subsidiaries receive payment from customers before satisfying performance obligations, the amounts are recognized as contract liabilities. In transactions that involve third parties, if the Company and its subsidiaries control the goods or services before they are transferred to the customers, revenue is recognized on gross amount as the principal. Excluding the aforementioned policy, the policies as specifically described hereinafter are applied for each of revenue items. Finance Revenues (1) Revenues from finance leases Lessor leases consist of leases for various equipment types, including office equipment, industrial machinery, transportation equipment and real estates. Net investment in leases includes sales-type leases and direct financing leases which are full-payout leases. Leases not qualifying as sales-type leases or direct financing leases are accounted for as operating leases. Interest income on net investment in leases is recognized over the life of each respective lease using the interest method. In providing leasing services, the Company and its subsidiaries execute supplemental businesses, such as paying insurance and handling taxes on leased assets on behalf of lessees. The estimated unguaranteed residual value represents estimated proceeds from the disposition of equipment at the time the lease is terminated. Estimates of residual values are determined based on market values of used equipment, estimates of when and the extent to which equipment will become obsolete and actual recovery being experienced for similar used equipment. Initial direct costs of sales-type leases and direct financing leases are being deferred and amortized as a yield adjustment over the life of the related lease by using interest method. The unamortized balance of initial direct costs of sales-type leases and direct financing leases is reflected as a component of net investment in leases. (2) Revenues from installment loans Interest income on installment loans is recognized on an accrual basis. Certain direct loan origination costs, net of origination fees, are being deferred and amortized over the contractual term of the loan as an adjustment of the related loan’s yield using the interest method. Interest payments received on impaired loans other than purchased loans are recorded as interest income unless the collection of the remaining investment is doubtful at which time payments received are recorded as reductions of principal. For purchased loans, although the acquired assets may remain loans in legal form, collections on these loans often do not reflect the normal historical experience of collecting delinquent accounts, and the need to tailor individual collateral-realization strategies often makes it difficult to reliably estimate the amount, timing, or nature of collections. Accordingly, the Company and its subsidiaries use the cost recovery method of income recognition for such purchased loans regardless of whether impairment is recognized or not. (3) Revenues from financial guarantees At the inception of a guarantee, fair value for the guarantee is recognized as a liability in the consolidated balance sheets. The Company and its subsidiaries recognize revenue mainly over the term of guarantee by a systematic and rational amortization method as the Company and the subsidiaries are released from the risk of the obligation. (4) Non-accrual In common with all classes, past-due past-due past-due past-due past-due past-due non-accrual non-accrual Gains on investment securities and dividends — Operating leases — Estimates of residual values are based on market values of used equipment, estimates of when and the extent to which equipment will become obsolete and actual recovery being experienced for similar used equipment. Initial direct costs of operating leases are being deferred and amortized as a straight-line basis over the life of the related lease. The unamortized balance of initial direct costs is reflected as investment in operating leases. (e) Insurance and reinsurance transactions Premium income from life insurance policies, net of premiums on reinsurance ceded, is recognized as earned premiums when due. Life insurance benefits are recorded as expenses when they are incurred. Policy liabilities and policy account balances for future policy benefits are measured using the net level premium method, based on actuarial estimates of the amount of future policyholder benefits. The policies are characterized as long-duration policies and mainly consist of whole life, term life, endowments, medical insurance and individual annuity insurance contracts. For policies other than individual annuity insurance contracts, computation of policy liabilities necessarily includes assumptions about mortality, morbidity, lapse rates, future yields on related investments and other factors applicable at the time the policies are written. A certain subsidiary continually evaluates the potential for changes in the estimates and assumptions applied in determining policy liabilities, both positive and negative, and uses the results of these evaluations both to adjust recorded liabilities and to adjust underwriting criteria and product offerings. The insurance contracts sold by the subsidiary include variable annuity, variable life and fixed annuity insurance contracts. The subsidiary manages investment assets on behalf of variable annuity and variable life policyholders, which consist of equity securities and are included in investment in securities in the consolidated balance sheets. These investment assets are measured at fair value with realized and unrealized gains or losses recognized in life insurance premiums and related investment income in the consolidated statements of income. The subsidiary elected the fair value option for the entire variable annuity and variable life insurance contracts with changes in the fair value recognized in life insurance costs. The subsidiary provides minimum guarantees to variable annuity and variable life policyholders under which it is exposed to the risk of compensating losses incurred by the policyholders to the extent contractually required. To mitigate the risk, a portion of the minimum guarantee risk related to variable annuity and variable life insurance contracts is ceded to reinsurance companies and the remaining risk is economically hedged by entering into derivative contracts. The reinsurance contracts do not relieve the subsidiary from the obligation as the primary obligor to compensate certain losses incurred by the policyholders, and the default of the reinsurance companies may impose additional losses on the subsidiary. Certain subsidiaries have elected the fair value option for certain reinsurance contracts relating to variable annuity and variable life insurance contracts, which are included in other assets in the consolidated balance sheets. Policy liabilities and policy account balances for fixed annuity insurance contracts are measured based on the single-premiums plus interest based on expected rate and fair value adjustments relating to the acquisition of the subsidiary, less withdrawals, expenses and other charges. The credited interest is recorded in life insurance costs in the consolidated statements of income. Certain costs related directly to the successful acquisition of new or renewal insurance contracts, or deferred policy acquisition costs are deferred and amortized over the respective policy periods in proportion to anticipated premium revenue. These deferred policy acquisition costs consist primarily of agent commissions, except for recurring policy maintenance costs and certain variable costs and expenses for underwriting policies. (f) Allowance for doubtful receivables on finance leases and probable loan losses The allowance for doubtful receivables on finance leases and probable loan losses is maintained at a level which, in the judgment of management, is appropriate to provide for probable losses inherent in lease and loan portfolios. The allowance is increased by provision charged to income and is decreased by charge-offs, net of recoveries. Developing the allowance for doubtful receivables on finance leases and probable loan losses is subject to numerous estimates and judgments. In evaluating the appropriateness of the allowance, management considers various factors, including the business characteristics and financial conditions of the obligors, current economic conditions and trends, prior charge-off Impaired loans are individually evaluated for a valuation allowance based on the present value of expected future cash flows, the loan’s observable market price or the fair value of the collateral securing the loans if the loans are collateral-dependent. For non-impaired charge-off charge-off The Company and its subsidiaries charge off doubtful receivables when the likelihood of any future collection is believed to be minimal considering debtors’ creditworthiness and the liquidation status of collateral. (g) Impairment of long-lived assets The Company and its subsidiaries perform a recoverability test for long-lived assets to be held and used in operations, including tangible assets and intangible assets being amortized, consisting primarily of office buildings, condominiums, mega solar and other properties under facility operations, whenever events or changes in circumstances indicated that the assets might be impaired. The assets are considered not recoverable when the undiscounted future cash flows estimated to be generated by those assets are less than the carrying amount of those assets. The carrying amount of assets not recoverable is reduced to fair value if lower than the carrying amount. The Company and its subsidiaries determine the fair value using appraisals prepared by independent third party appraisers or our own staff of qualified appraisers based on recent transactions involving sales of similar assets or other valuation techniques such as discounted cash flows methodologies using future cash flows estimated to be generated from operation of the existing assets or completion of development projects, as appropriate. (h) Investment in securities Equity securities are generally reported at fair value with unrealized gains and losses included in income. Equity securities without readily determinable fair values are recorded at its cost minus impairment, if any, plus or minus changes resulting from observable price changes under the election of the measurement alternative, except for investments which are valued at net asset value per share. Equity securities elected to apply the measurement alternative are written down to its fair value with losses included in income if a qualitative assessment indicates that the investment is impaired and the fair value of the investment is less than its carrying value. In addition, investments included in equity securities that are accounted for under the equity method are recorded at fair value with unrealized gains and losses included in income if certain subsidiaries elect the fair value option. Trading debt securities are reported at fair value with unrealized gains and losses included in income. Available-for-sale Held-to-maturity For debt securities other than trading, where the fair value is less than the amortized cost, the Company and its subsidiaries consider whether those securities are other-than-temporarily impaired using all available information about their collectability. The Company and its subsidiaries do not consider a debt security to be other-than-temporarily impaired if (1) the Company and its subsidiaries do not intend to sell the debt security, (2) it is not more likely than not that the Company and its subsidiaries will be required to sell the debt security before recovery of its amortized cost basis and (3) the present value of estimated cash flows will fully cover the amortized cost of the security. On the other hand, the Company and its subsidiaries consider a debt security to be other-than-temporarily impaired if any of the above mentioned three conditions are not met. When the Company and its subsidiaries deem a debt security to be other-than-temporarily impaired, the Company and its subsidiaries recognize the entire difference between the amortized cost and the fair value of the debt security in earnings if the Company and its subsidiaries intend to sell the debt security or it is more likely than not that the Company and its subsidiaries will be required to sell the debt security before recovery of its amortized cost basis less any current-period credit loss. However, if the Company and its subsidiaries do not intend to sell the debt security and it is not more likely than not that the Company and its subsidiaries will be required to sell the debt security before recovery of its amortized cost basis less any current-period credit loss, the Company and its subsidiaries separate the difference between the amortized cost and the fair value of the debt security into the credit loss component and the non-credit non-credit (i) Income taxes The Company, in general, determines its provision for income taxes for quarterly periods by applying the current estimate of the effective tax rate for the full fiscal year to the actual year-to-date At the fiscal year end, income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, and for tax loss carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the year in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rate is recognized in income in the period that includes the enactment date. The Company and its subsidiaries release to earnings stranded income tax effects in accumulated other comprehensive income (loss) resulting from changes in tax laws or rates or changes in judgment about realization of a valuation allowance on a specific identification basis when the individual items are completely sold or terminated. A valuation allowance is recognized if, based on the weight of available evidence, it is “more likely than not” that some portion or all of the deferred tax asset will not be realized. The effective income tax rates for the nine months ended December 31, 2018 and 2019 were 19.0% and 29.3%, respectively. These rates are (11.0)% and 29.3% for the three months ended December 31, 2018 and 2019, respectively. For the nine and three months ended December 31, 2018 and 2019, the Company and its subsidiaries in Japan were subject to a National Corporate tax of approximately 24%, an Inhabitant tax of approximately 4% and a deductible Enterprise tax of approximately 4%, which in the aggregate result in a statutory income tax rate of approximately 31.5%. The effective income tax rate is different from the statutory tax rate primarily because of certain nondeductible expenses for tax purposes, non-taxable On October 26, 2018, the Company decided to acquire common shares of its domestic subsidiary, DAIKYO through a tender offer (hereinafter, “the Tender Offer”), and with the establishment of the Tender Offer, the Company decided to change the method of collecting undistributed earnings of DAIKYO from collection through a taxable transaction to collection through a tax free transaction. On December 10, 2018, the Tender Offer was concluded. Along with the establishment of the event, the Company completely reversed the deferred tax liabilities previously recorded for undistributed earnings of DAIKYO. As a result of this reversal of deferred tax liabilities, income taxes decreased by ¥27,376 million for the nine and three months ended December 31, 2018. The Company and its subsidiaries file tax returns in Japan and certain foreign tax jurisdictions and recognize the financial statement effects of a tax position taken or expected to be taken in a tax return when it is more likely than not, based on the technical merits, that the position will be sustained upon tax examination, including resolution of any related appeals or litigation processes, and measure tax positions that meet the recognition threshold at the largest amount of tax benefit that is greater than 50 percent likely to be realized upon settlement with the taxing authority. The Company and its subsidiaries present an unrecognized tax benefit as either a reduction of a deferred tax asset, a reduction of an amount refundable or a liability, based on the intended method of settlement. The Company and its subsidiaries classify penalties and interest expense related to income taxes as part of provision for income taxes in the consolidated statements of income. The Company and certain subsidiaries have elected to file a consolidated tax return for National Corporation tax purposes. (j) Securitized assets The Company and its subsidiaries have securitized and sold to investors various financial assets such as lease receivables and loan receivables. In the securitization process, the assets to be securitized are sold to SPEs that issue asset-backed beneficial interests and securities to the investors. SPEs used in securitization transactions are consolidated if the Company and its subsidiaries are the primary beneficiary of the SPEs, and the transfers of the financial assets to those consolidated SPEs are not accounted for as sales. Assets held by consolidated SPEs continue to be accounted for as lease receivables or loan receivables, as they were before the transfer, and asset-backed beneficial interests and securities issued to the investors are accounted for as debt. When the Company and its subsidiaries have transferred financial assets to a transferee that is not subject to consolidation, the Company and its subsidiaries account for the transfer as a sale if control over the transferred assets is surrendered. The Company and certain subsidiaries originate and sell loans into the secondary market, while retaining the obligation to service those loans. In addition, a certain subsidiary undertakes obligations to service loans originated by others. The subsidiary recognizes servicing assets if it expects the benefit of servicing to more than adequately compensate it for performing the servicing or recognizes servicing liabilities if it expects the benefit of servicing to less than adequately compensate it. These servicing assets and liabilities are initially recognized at fair value and subsequently accounted for using the amortization method whereby the assets and liabilities are amortized in proportion to and over the period of estimated net servicing income or net servicing loss. On a quarterly basis, servicing assets and liabilities are evaluated for impairment or increased obligations. The fair value of servicing assets and liabilities is estimated using an internal valuation model, or by obtaining an opinion of value from an independent third-party vendor. Both methods are based on calculating the present value of estimated future net servicing cash flows, taking into consideration discount rates, prepayments and servicing costs. The internal valuation model is validated at least semiannually through third-party valuations. (k) Derivative financial instruments The Company and its subsidiaries recognize all derivatives on the consolidated balance sheets at fair value. The accounting treatment of subsequent changes in the fair value depends on their use, and whether they qualify as effective “hedges” for accounting purposes. Derivatives for the purpose of economic hedge that are not qualified for hedge accounting are adjusted to fair value through the consolidated statements of income. If a derivative is a hedge, then depending on its nature, changes in its fair value will be either offset against changes in the fair value of hedged assets or liabilities through the consolidated statements of income, or recorded in other comprehensive income (loss), net of applicable income taxes. If a derivative is held as a hedge of the variability of fair value related to a recognized asset or liability or an unrecognized firm commitment (“fair value” hedge), changes in the fair value of the derivative are recorded in earnings along with the changes in the fair value of the hedged item. If a derivative is held as a hedge of the variability of cash flows related to a forecasted transaction or a recognized asset or liability (“cash flow” hedge), changes in the fair value of the derivative are recorded in other comprehensive income (loss), net of applicable income taxes, until earnings are affected by the variability in cash flows of the designated hedged item. If a derivative is held as a hedge of a foreign-currency fair-value or cash-flow hedge (“foreign currency” hedge), changes in the fair value of the derivative are recorded in either earnings or other comprehensive income (loss), net of applicable income taxes, depending on whether the hedging activity is a fair-value hedge or a cash-flow hedge. However, if a derivative is used as a hedge of a net investment in a foreign operation, changes in its fair value are recorded in the foreign currency translation adjustments account within other comprehensive income (loss), net of applicable income taxes. Starting from this fiscal year, the Company and its subsidiaries select either the amortization approach or the fair value approach, depending on the type of hedging activity, for the initial value of the component excluded from the assessment of effectiveness, and recognize it through the consolidated statements of income. When the amortization approach is adopted, the change in fair value is recognized in earnings using a systematic and rational method over the life of the hedging instrument and then any difference between the change in fair value and the amount recognized in earnings is recognized in other comprehensive income (loss), net of applicable income taxes. When the fair value approach is adopted, the change in the fair value is immediately recognized through the consolidated statements of income. In the past fiscal year, the change in fair value of the component excluded from the assessment of effectiveness and the ineffective portion of qualified hedges were immediately recognized through the consolidated statements of income. For all hedging relationships that are designated and qualified for hedge accounting, at inception the Company and its subsidiaries formally document the details of the hedging relationship and the hedging activity. The Company and its subsidiaries formally assess, both at the hedge’s inception and on an ongoing basis, the effectiveness of the hedge relationship. The Company and its subsidiaries cease hedge accounting prospectively when the derivative no longer qualifies for hedge accounting. (l) Pension plans The Company and certain subsidiaries have contributory and non-contributory The Company and its subsidiaries also recognize the funded status of pension plans, measured as the difference between the fair value of plan assets and the benefit obligation, on the consolidated balance sheets. Changes in that funded status are recognized in the year in which the changes occur through other comprehensive income (loss), net of applicable income taxes. (m) Stock-based compensation In principle, the Company and its subsidiaries measure stock-based compensation expense as consideration for services provided by employees based on the fair value on the grant date. The costs are recognized over the requisite service period. (n) Stock splits Stock splits implemented prior to October 1, 2001 had been accounted for by transferring an amount equivalent to the par value of the shares from additional paid-in As a result of a revision to the Code before amendment effective on October 1, 2001 and the Companies Act implemented on May 1, 2006, the above-mentioned method of accounting required by the Code became unnecessary. In the United States, stock splits in comparable circumstances are considered to be stock dividends and are accounted for by transferring from retained earnings to common stock and additional paid-in paid-in Had such stock splits made prior to October 1, 2001 been accounted for in this manner, additional paid-in (o) Cash and cash equivalents Cash and cash equivalents include cash on hand, deposits placed with banks and short-term highly liquid investments with original maturities of three months or less. (p) Restricted cash Restricted cash consists of trust accounts under securitization programs and real estate, deposits related to servicing agreements, deposits collected on the underlying assets and applied to non-recourse (q) Installment loans Certain loans, for which the Company and its subsidiaries have the intent and ability to sell to outside parties in the foreseeable future, are considered held for sale and are carried at the lower of cost or fair value determined on an individual basis, except loans held for sale for which the fair value option was elected. A certain subsidiary elected the fair value option on certain loans held for sale. The subsidiary enters into forward sale agreements to offset the change in the fair value of loans held for sale, and the election of the fair value option allows the subsidiary to recognize both the change in the fair value of the loans and the change in the fair value of the forward sale agreements due to changes in interest rates in the same accounting period. Loans held for sale are included in installment loans, and the outstanding balances of these loans as of March 31, 2019 and December 31, 2019 were ¥54,311 million and ¥80,234 million, respectively. There were ¥38,671 million and ¥43,238 million of loans held for sale as of March 31, 2019 and December 31, 2019, respectively, measured at fair value by electing the fair value option. (r) Property under facility operations Property under facility operations consist primarily of operating facilities (including hotels and training facilities) and environmental assets (including mega solar and thermal power stations), which are stated at cost less accumulated depreciation, and depreciation is calculated mainly on a straight-line basis over the estimated useful lives of the assets. Accumulated depreciation was ¥102,185 million and ¥99,748 million as of March 31, 2019 and December 31, 2019, respectively. (s) Trade notes, accounts and other receivable Trade notes, accounts and other receivable primarily include accounts receivables in relation to sales of assets to be leased, inventories and other assets and payment made on behalf of lessees for property tax, maintenance fees and insurance premiums in relation to lease contracts. (t) Inventories Inventories consist primarily of residential condominiums under development, completed residential condominiums (including those waiting to be delivered to buyers under the contract for sale), and merchandise for sale. Residential condominiums under development are carried at cost less any impairment losses, and completed residential condominiums and merchandise for sale are stated at the lower of cost or fair value less cost to sell. The cost of inventories that are unique and not interchangeable is determined on the specific identification method and the cost of other inventories is principally determined on the average method. As of March 31, 2019 and December 31, 2019, residential condominiums under development were ¥55,860 million and ¥74,843 million, respectively, and completed residential condominiums and merchandise for sale were ¥59,835 million and ¥57,115 million, respectively. The Company and its subsidiaries recorded ¥269 million and ¥277 million of write-downs principally on completed residential condominiums and merchandise for sale for the nine months ended December 31, 2018 and 2019, respectively, primarily resulting from a decrease in expected sale |
Fair Value Measurements
Fair Value Measurements | 9 Months Ended |
Dec. 31, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | 3. Fair Value Measurements The Company and its subsidiaries classify and prioritize inputs used in valuation techniques to measure fair value into the following three levels: Level 1 — Inputs of quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 2 — Inputs other than quoted prices included within Level 1 that are observable for the assets or liabilities, either directly or indirectly. Level 3 — Unobservable inputs for the assets or liabilities. The Company and its subsidiaries differentiate between those assets and liabilities required to be carried at fair value at every reporting period (“recurring”) and those assets and liabilities that are only required to be adjusted to fair value under certain circumstances (“nonrecurring”). The Company and its subsidiaries mainly measure certain loans held for sale, trading debt securities, available-for-sale The following tables present recorded amounts of major financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2019 and December 31, 2019: March 31, 2019 Millions of yen Total Carrying Value in Consolidated Balance Sheets Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Loans held for sale*1 ¥ 38,671 ¥ 0 ¥ 38,671 ¥ 0 Trading debt securities 1,564 0 1,564 0 Available-for-sale 1,264,244 24,831 1,138,966 100,447 Japanese and foreign government bond securities*2 430,851 3,227 427,624 0 Japanese prefectural and foreign municipal bond securities 193,305 0 190,417 2,888 Corporate debt securities*3 487,997 21,604 459,235 7,158 CMBS and RMBS in the Americas 61,479 0 61,479 0 Other asset-backed securities and debt securities 90,612 0 211 90,401 Equity securities*4*5 425,593 68,631 295,769 61,193 Derivative assets: 15,495 299 9,924 5,272 Interest rate swap agreements 138 0 138 0 Options held/written and other 11,140 0 5,868 5,272 Futures, foreign exchange contracts 3,007 299 2,708 0 Foreign currency swap agreements 1,203 0 1,203 0 Credit derivatives written 7 0 7 0 Netting*6 (1,497 ) 0 0 0 Net derivative assets 13,998 0 0 0 Other assets: 12,449 0 0 12,449 Reinsurance recoverables*7 12,449 0 0 12,449 Total ¥ 1,758,016 ¥ 93,761 ¥ 1,484,894 ¥ 179,361 Liabilities: Derivative liabilities: ¥ 25,958 ¥ 522 ¥ 25,436 ¥ 0 Interest rate swap agreements 17,439 0 17,439 0 Options held/written and other 2,809 0 2,809 0 Futures, foreign exchange contracts 5,336 522 4,814 0 Foreign currency swap agreements 364 0 364 0 Credit derivatives held 10 0 10 0 Netting*6 (1,497 ) 0 0 0 Net derivative Liabilities 24,461 0 0 0 Policy Liabilities and Policy Account Balances: 360,198 0 0 360,198 Variable annuity and variable life insurance contracts*8 360,198 0 0 360,198 Total ¥ 386,156 ¥ 522 ¥ 25,436 ¥ 360,198 December 31, 2019 Millions of yen Total Carrying Value in Consolidated Balance Sheets Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Loans held for sale*1 ¥ 43,238 ¥ 0 ¥ 43,238 ¥ 0 Trading debt securities 1,371 0 1,371 0 Available-for-sale 1,576,349 22,381 1,453,002 100,966 Japanese and foreign government bond securities*2 591,235 3,585 587,650 0 Japanese prefectural and foreign municipal bond securities 238,288 0 235,437 2,851 Corporate debt securities*3 594,755 18,796 571,743 4,216 CMBS and RMBS in the Americas 57,962 0 57,962 0 Other asset-backed securities and debt securities 94,109 0 210 93,899 Equity securities*4*5 417,433 73,334 277,917 66,182 Derivative assets: 15,683 29 5,210 10,444 Interest rate swap agreements 167 0 167 0 Options held/written and other 13,692 0 3,248 10,444 Futures, foreign exchange contracts 403 29 374 0 Foreign currency swap agreements 1,421 0 1,421 0 Netting*6 (514 ) 0 0 0 Net derivative assets 15,169 0 0 0 Other assets: 9,219 0 0 9,219 Reinsurance recoverables*7 9,219 0 0 9,219 Total ¥ 2,063,293 ¥ 95,744 ¥ 1,780,738 ¥ 186,811 Liabilities: Derivative liabilities: ¥ 51,188 ¥ 157 ¥ 51,004 ¥ 27 Interest rate swap agreements 24,768 0 24,768 0 Options held/written and other 10,960 0 10,933 27 Futures, foreign exchange contracts 14,495 157 14,338 0 Foreign currency swap agreements 965 0 965 0 Netting*6 (514 ) 0 0 0 Net derivative Liabilities 50,674 0 0 0 Policy Liabilities and Policy Account Balances: 333,017 0 0 333,017 Variable annuity and variable life insurance contracts*8 333,017 0 0 333,017 Total ¥ 384,205 ¥ 157 ¥ 51,004 ¥ 333,044 *1 A certain subsidiary elected the fair value option on certain loans held for sale. These loans are multi-family and seniors housing loans and are sold to Federal National Mortgage Association (“Fannie Mae”) or institutional investors. Included in “Other (income) and expense, net” in the consolidated statements of income were gains of ¥495 million and ¥971 million from the change in the fair value of the loans for the nine months ended December 31, 2018 and 2019, respectively. Included in “Other (income) and expense, net” in the consolidated statements of income were gains of ¥294 million and ¥622 million from the change in the fair value of the loans for the three months ended December 31, 2018 and 2019, respectively. No gains or losses were recognized in earnings during the nine months ended December 31, 2018 and 2019 attributable to changes in instrument-specific credit risk. The amounts of aggregate unpaid principal balance and aggregate fair value of the loans held for sale as of March 31, 2019, were ¥37,865 million and ¥38,671 million, respectively, and the amount of the aggregate fair value exceeded the amount of aggregate unpaid principal balance by ¥806 million. The amounts of aggregate unpaid principal balance and aggregate fair value of the loans held for sale as of December 31, 2019, were ¥41,473 million and ¥43,238 million, respectively, and the amount of the aggregate fair value exceeded the amount of aggregate unpaid principal balance by ¥1,765 million. As of March 31, 2019 and December 31, 2019, there were no loans that are 90 days or more past due or, in non-accrual *2 A certain subsidiary elected the fair value option for investments in foreign government bond securities included in available-for-sale *3 A certain subsidiary elected the fair value option for investments in foreign corporate debt securities included in available-for-sale *4 Certain subsidiaries elected the fair value option for certain investments in investment funds included in equity securities. Included in “Gains on investment securities and dividends” in the consolidated statements of income were gains of ¥906 million and ¥533 million from the change in the fair value of those investments for the nine months ended December 31, 2018 and 2019, respectively. Included in “Gains on investment securities and dividends” in the consolidated statements of income were gains of ¥265 million and ¥121 million from the change in the fair value of those investments for the three months ended December 31, 2018 and 2019, respectively. The amounts of aggregate fair value elected the fair value option were ¥5,811 million and ¥5,997 million as of March 31, 2019 and December 31, 2019, respectively. *5 The amounts of investment funds measured at net asset value per share which are not included in the above tables were ¥12,100 million and ¥11,878 million as of March 31, 2019 and December 31, 2019, respectively. *6 It represents the amount offset under counterparty netting of derivative assets and liabilities. *7 Certain subsidiaries elected the fair value option for certain reinsurance contracts held. The fair value of the reinsurance contracts elected for the fair value option in other assets were ¥12,449 million and ¥9,219 million as of March 31, 2019 and December 31, 2019, respectively. For the effect of changes in the fair value of those reinsurance contracts on earnings during the nine and three months ended December 31, 2018 and 2019, see Note 17 “Life Insurance Operations.” *8 Certain subsidiaries elected the fair value option for the entire variable annuity and variable life insurance contracts held in order to match the earnings recognized for the changes in the fair value of policy liabilities and policy account balances with earnings recognized for gains or losses from the investment assets managed on behalf of variable annuity and variable life policyholders, derivative contracts and the changes in the fair value of reinsurance contracts. The fair value of the variable annuity and variable life insurance contracts elected for the fair value option in policy liabilities and policy account balances were ¥360,198 million and ¥333,017 million as of March 31, 2019 and December 31, 2019, respectively. For the effect of changes in the fair value of the variable annuity and variable life insurance contracts on earnings during the nine and three months ended December 31, 2018 and 2019, see Note 17 “Life Insurance Operations.” The following tables present the reconciliation of financial assets and liabilities (net) measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the nine months ended December 31, 2018 and 2019: Nine months ended December 31, 2018 Millions of yen Balance at April 1, 2018 Gains or losses (realized/unrealized) Purchases *3 Sales Settlements *4 Transfers in and/ or out of Level 3 (net) Balance at December 31, 2018 Change in unrealized gains or losses included in earnings for assets and liabilities still held at December 31, 2018 *1 Included in earnings *1 Included in other comprehensive income *2 Total Available-for-sale ¥ 120,917 ¥ 2,032 ¥ 288 ¥ 2,320 ¥ 36,231 ¥ (22,186 ) ¥ (24,476 ) ¥ (20,101 ) ¥ 92,705 ¥ 304 Japanese prefectural and foreign municipal bond securities 0 0 (7 ) (7 ) 0 0 0 3,305 3,298 0 Corporate debt securities 3,037 0 5 5 0 0 (685 ) 0 2,357 0 CMBS and RMBS in the Americas 36,010 1,034 546 1,580 1,304 (6,711 ) (8,777 ) (23,406 ) 0 0 Other asset-backed securities and debt securities 81,870 998 (256 ) 742 34,927 (15,475 ) (15,014 ) 0 87,050 304 Equity securities 37,879 1,957 523 2,480 34,613 (18,352 ) 0 0 56,620 1,685 Investment funds 37,879 1,957 523 2,480 34,613 (18,352 ) 0 0 56,620 1,685 Derivative assets and liabilities (net) 2,291 (1,377 ) 0 (1,377 ) 1,673 0 (1,198 ) 0 1,389 (1,377 ) Options held/written and other 2,291 (1,377 ) 0 (1,377 ) 1,673 0 (1,198 ) 0 1,389 (1,377 ) Other asset 15,008 480 0 480 2,800 0 (486 ) 0 17,802 480 Reinsurance recoverables *5 15,008 480 0 480 2,800 0 (486 ) 0 17,802 480 Policy Liabilities and Policy Account Balances 444,010 18,993 422 19,415 0 0 (62,522 ) 0 362,073 18,993 Variable annuity and variable life insurance contracts *6 444,010 18,993 422 19,415 0 0 (62,522 ) 0 362,073 18,993 Nine months ended December 31, 2019 Millions of yen Balance at April 1, 2019 Gains or losses (realized/unrealized) Purchases *3 Sales Settlements *4 Transfers in and/ or out of Level 3 (net) Balance at December 31, 2019 Change in unrealized gains or losses included in earnings for assets and liabilities still held at December 31, 2019 *1 Included in earnings *1 Included in other comprehensive income *2 Total Available-for-sale ¥ 100,447 ¥ 1,339 ¥ (1,023 ) ¥ 316 ¥ 33,606 ¥ (3,425 ) ¥ (26,987 ) ¥ (2,991 ) ¥ 100,966 ¥ 213 Japanese prefectural and foreign municipal bond securities 2,888 0 (37 ) (37 ) 0 0 0 0 2,851 0 Corporate debt securities 7,158 0 (9 ) (9 ) 900 0 (842 ) (2,991 ) 4,216 0 Other asset-backed securities and debt securities 90,401 1,339 (977 ) 362 32,706 (3,425 ) (26,145 ) 0 93,899 213 Equity securities 61,193 5,594 (131 ) 5,463 10,075 (5,760 ) (4,789 ) 0 66,182 5,532 Investment funds 61,193 5,594 (131 ) 5,463 10,075 (5,760 ) (4,789 ) 0 66,182 5,532 Derivative assets and liabilities (net) 5,272 5,238 (93 ) 5,145 0 0 0 0 10,417 5,238 Options held/written and other 5,272 5,238 (93 ) 5,145 0 0 0 0 10,417 5,238 Other asset 12,449 (5,355 ) 0 (5,355 ) 2,303 0 (178 ) 0 9,219 (5,355 ) Reinsurance recoverables *5 12,449 (5,355 ) 0 (5,355 ) 2,303 0 (178 ) 0 9,219 (5,355 ) Policy Liabilities and Policy Account Balances 360,198 (12,426 ) 189 (12,237 ) 0 0 (39,418 ) 0 333,017 (12,426 ) Variable annuity and variable life insurance contracts *6 360,198 (12,426 ) 189 (12,237 ) 0 0 (39,418 ) 0 333,017 (12,426 ) *1 Principally, gains and losses from available-for-sale debt securities are included in “Gains on investment securities and dividends”, “Write-downs of securities” or “Life insurance premiums and related investment income”; equity securities are included in “Gains on investment securities and dividends” and derivative assets and liabilities (net) are included in “Other (income) and expense, net” respectively. Additionally, for available-for-sale debt securities, amortization of interest recognized in finance revenues is included in these columns. *2 Unrealized gains and losses from available-for-sale debt securities are included in “Net change of unrealized gains (losses) on investment in securities” and “Net change of foreign currency translation adjustments”, unrealized gains and losses from equity securities and derivative assets and liabilities (net) are included mainly in “Net change of foreign currency translation adjustments”, unrealized gains and losses from policy liabilities and policy account balances are included in “Net change of debt valuation adjustments.” *3 Increases resulting from an acquisition of a subsidiary and insurance contracts ceded to reinsurance companies are included. *4 Decreases resulting from the receipts of reimbursements for benefits, and decreases resulting from insurance payouts to variable annuity and variable life policyholders due to death, surrender and maturity of the investment period are included. *5 “Included in earnings” in the above table includes changes in the fair value of reinsurance contracts recorded in “Life insurance costs” and reinsurance premiums, net of reinsurance benefits received, recorded in “Life insurance premiums and related investment income.” *6 “Included in earnings” in the above table is recorded in “Life insurance costs” and includes changes in the fair value of policy liabilities and policy account balances resulting from gains or losses on the underlying investment assets managed on behalf of variable annuity and variable life policyholders, and the changes in the minimum guarantee risks relating to variable annuity and variable life insurance contracts as well as insurance costs recognized for insurance and annuity payouts as a result of insured events. In the nine months ended December 31, 2018, Japanese prefectural and foreign municipal bond securities totaling ¥3,305 million were transferred from Level 2 to Level 3, since the valuation techniques to measure fair value of a certain foreign municipal bond security has been changed to discounted cash flows methodologies using unobservable inputs. The change of the valuation techniques is due to judgement that the Company and its subsidiaries cannot rely on price quotations from independent pricing service vendors and brokers considering deterioration of estimated cash flows from the security. In addition, CMBS and RMBS in Americas totaling ¥23,406 million were transferred from Level 3 to Level 2, since the inputs such as trading price and/or bid price became observable due to the market returning to active. In the nine months ended December 31, 2019, corporate debt securities totaling ¥2,991 million were transferred from Level 3 to Level 2, since the inputs became observable. The following tables present the reconciliation of financial assets and liabilities (net) measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three months ended December 31, 2018 and 2019: Three months ended December 31, 2018 Millions of yen Balance at September 30, Gains or losses (realized/unrealized) Purchases *3 Sales Settlements *4 Transfers in and/ or out of Level 3 (net) Balance at December 31, Change in unrealized gains or losses included in earnings for assets and liabilities still held at December 31, Included in earnings *1 Included in other comprehensive income *2 Total Available-for-sale ¥ 122,548 ¥ 882 ¥ (4,450 ) ¥ (3,568 ) ¥ 3,259 ¥ (6,188 ) ¥ (3,245 ) ¥ (20,101 ) ¥ 92,705 ¥ 214 Japanese prefectural and foreign municipal bond securities 0 0 (7 ) (7 ) 0 0 0 3,305 3,298 0 Corporate debt securities 2,547 0 5 5 0 0 (195 ) 0 2,357 0 CMBS and RMBS in the Americas 23,996 0 (590 ) (590 ) 0 0 0 (23,406 ) 0 0 Other asset-backed securities and debt securities 96,005 882 (3,858 ) (2,976 ) 3,259 (6,188 ) (3,050 ) 0 87,050 214 Equity securities 44,559 241 (1,056 ) (815 ) 17,535 (4,659 ) 0 0 56,620 140 Investment funds 44,559 241 (1,056 ) (815 ) 17,535 (4,659 ) 0 0 56,620 140 Derivative assets and liabilities (net) 743 1,021 0 1,021 0 0 (375 ) 0 1,389 1,021 Options held/written and other 743 1,021 0 1,021 0 0 (375 ) 0 1,389 1,021 Other asset 11,121 6,073 0 6,073 847 0 (239 ) 0 17,802 6,073 Reinsurance recoverables *5 11,121 6,073 0 6,073 847 0 (239 ) 0 17,802 6,073 Policy Liabilities and Policy Account Balances 405,705 28,247 534 28,781 0 0 (14,851 ) 0 362,073 28,247 Variable annuity and variable life insurance contracts *6 405,705 28,247 534 28,781 0 0 (14,851 ) 0 362,073 28,247 Three months ended December 31, 2019 Millions of yen Balance at September 30, Gains or losses (realized/unrealized) Purchases *3 Sales Settlements *4 Transfers in and/ or out of Level 3 (net) Balance at Change in unrealized gains or losses included in earnings for assets and liabilities still held at December 31, Included in earnings *1 Included in other comprehensive income *2 Total Available-for-sale ¥ 87,265 ¥ 244 ¥ 1,122 ¥ 1,366 ¥ 17,532 ¥ (3,293 ) ¥ (1,904 ) ¥ 0 ¥ 100,966 ¥ 141 Japanese prefectural and foreign municipal bond securities 2,808 0 43 43 0 0 0 0 2,851 0 Corporate debt securities 3,638 0 (15 ) (15 ) 900 0 (307 ) 0 4,216 0 Other asset-backed securities and debt securities 80,819 244 1,094 1,338 16,632 (3,293 ) (1,597 ) 0 93,899 141 Equity securities 65,854 929 1,283 2,212 4,639 (3,368 ) (3,155 ) 0 66,182 1,137 Investment funds 65,854 929 1,283 2,212 4,639 (3,368 ) (3,155 ) 0 66,182 1,137 Derivative assets and liabilities (net) 16,275 (6,123 ) 265 (5,858 ) 0 0 0 0 10,417 (6,123 ) Options held/written and other 16,275 (6,123 ) 265 (5,858 ) 0 0 0 0 10,417 (6,123 ) Other asset 11,382 (2,874 ) 0 (2,874 ) 750 0 (39 ) 0 9,219 (2,874 ) Reinsurance recoverables *5 11,382 (2,874 ) 0 (2,874 ) 750 0 (39 ) 0 9,219 (2,874 ) Policy Liabilities and Policy Account Balances 336,840 (10,387 ) (94 ) (10,481 ) 0 0 (14,304 ) 0 333,017 (10,387 ) Variable annuity and variable life insurance contracts *6 336,840 (10,387 ) (94 ) (10,481 ) 0 0 (14,304 ) 0 333,017 (10,387 ) *1 Principally, gains and losses from available-for-sale debt securities are included in “Gains on investment securities and dividends”, “Write-downs of securities” or “Life insurance premiums and related investment income”; equity securities are included in “Gains on investment securities and dividends” and derivative assets and liabilities (net) are included in “Other (income) and expense, net” respectively. Additionally, for available-for-sale debt securities, amortization of interest recognized in finance revenues is included in these columns. *2 Unrealized gains and losses from available-for-sale debt securities are included in “Net change of unrealized gains (losses) on investment in securities” and “Net change of foreign currency translation adjustments”, unrealized gains and losses from equity securities and derivative assets and liabilities (net) are included mainly in “Net change of foreign currency translation adjustments”, unrealized gains and losses from policy liabilities and policy account balances are included in “Net change of debt valuation adjustments.” *3 Increases resulting from an acquisition of a subsidiary and insurance contracts ceded to reinsurance companies are included. *4 Decreases resulting from the receipts of reimbursements for benefits, and decreases resulting from insurance payouts to variable annuity and variable life policyholders due to death, surrender and maturity of the investment period are included. *5 “Included in earnings” in the above table includes changes in the fair value of reinsurance contracts recorded in “Life insurance costs” and reinsurance premiums, net of reinsurance benefits received, recorded in “Life insurance premiums and related investment income.” *6 “Included in earnings” in the above table is recorded in “Life insurance costs” and includes changes in the fair value of policy liabilities and policy account balances resulting from gains or losses on the underlying investment assets managed on behalf of variable annuity and variable life policyholders, and the changes in the minimum guarantee risks relating to variable annuity and variable life insurance contracts as well as insurance costs recognized for insurance and annuity payouts as a result of insured events. In the three months ended December 31, 2018, Japanese prefectural and foreign municipal bond securities totaling ¥3,305 million were transferred from Level 2 to Level 3, since the valuation techniques to measure fair value of a certain foreign municipal bond security has been changed to discounted cash flows methodologies using unobservable inputs. The change of the valuation techniques is due to judgement that the Company and its subsidiaries cannot rely on price quotations from independent pricing service vendors and brokers considering deterioration of estimated cash flows from the security. In addition, CMBS and RMBS in Americas totaling ¥23,406 million were transferred from Level 3 to Level 2, since the inputs such as trading price and/or bid price became observable due to the market returning to active. There were no transfers in or out of Level 3 in the three months ended December 31, 2019. The following tables present recorded amounts of assets measured at fair value on a nonrecurring basis during year ended March 31, 2019 and the nine months ended December 31, 2019. These assets are measured at fair value on a nonrecurring basis mainly to recognize impairment: Year ended March 31, 2019 Millions of yen Total Carrying Value in Consolidated Balance Sheets Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Loans held for sale ¥ 3,839 ¥ 0 ¥ 3,839 ¥ 0 Real estate collateral-dependent loans (net of allowance for probable loan losses) 6,630 0 0 6,630 Investment in operating leases and property under facility operations 12,901 0 0 12,901 Certain investments in affiliates 2,897 0 0 2,897 ¥ 26,267 ¥ 0 ¥ 3,839 ¥ 22,428 Nine months ended December 31, 2019 Millions of yen Total Carrying Value in Consolidated Balance Sheets Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Real estate collateral-dependent loans (net of allowance for probable loan losses) ¥ 4,494 ¥ 0 ¥ 0 ¥ 4,494 Investment in operating leases and property under facility operations 4,462 0 712 3,750 Certain investments in affiliates 1,561 0 0 1,561 ¥ 10,517 ¥ 0 ¥ 712 ¥ 9,805 The following is a description of the main valuation methodologies used for assets and liabilities measured at fair value. Loans held for sale Certain loans, which the Company and its subsidiaries have the intent and ability to sell to outside parties in the foreseeable future, are considered held-for-sale. Real estate collateral-dependent loans The valuation allowance for large balance non-homogeneous The Company and its subsidiaries determine the fair value of the real estate collateral of real estate collateral-dependent loans using appraisals prepared by independent third party appraisers or our own staff of qualified appraisers based on recent transactions involving sales of similar assets or other valuation techniques such as discounted cash flows methodologies using future cash flows estimated to be generated from operation of the existing assets or completion of development projects, as appropriate. The Company and its subsidiaries generally obtain a new appraisal once a fiscal year. In addition, the Company and its subsidiaries periodically monitor circumstances of the real estate collateral and then obtain a new appraisal in situations involving a significant change in economic and/or physical conditions, which may materially affect the fair value of the collateral. Real estate collateral-dependent loans whose fair values are estimated using appraisals of the underlying collateral based on these valuation techniques are classified as Level 3 because such appraisals involve unobservable inputs. These unobservable inputs contain discount rates and cap rates as well as future cash flows estimated to be generated from real estate collateral. An increase (decrease) in the discount rate or cap rate and a decrease (increase) in the estimated future cash flows would result in a decrease (increase) in the fair value of real estate collateral-dependent loans. Investment in operating leases and property under facility operations and land and buildings undeveloped or under construction Investment in operating leases measured at fair value is mostly real estate. The Company and its subsidiaries determine the fair value of investment in operating leases and property under facility operations and land and buildings undeveloped or under construction using appraisals prepared by independent third party appraisers or the Company’s own staff of qualified appraisers based on recent transactions involving sales of similar assets or other valuation techniques such as discounted cash flow methodologies using future cash flows estimated to be generated from operation of the existing assets or completion of development projects, as appropriate. The Company and its subsidiaries classified the assets as Level 3 because such appraisals involve unobservable inputs. These unobservable inputs contain discount rates as well as future cash flows estimated to be generated from the assets or projects. An increase (decrease) in the discount rate and a decrease (increase) in the estimated future cash flows would result in a decrease (increase) in the fair value of investment in operating leases and property under facility operations and land and buildings undeveloped or under construction. Trading debt securities and available-for-sale If active market prices are available, fair value measurement is based on quoted active market prices and, accordingly, these securities are classified as Level 1. If active market prices are not available, fair value measurement is based on observable inputs other than quoted prices included within Level 1, such as prices for similar assets and accordingly these securities are classified as Level 2. If market prices are not available and there are no observable inputs, then fair value is estimated by using valuation models such as discounted cash flow methodologies and broker quotes. Such securities are classified as Level 3, as the valuation models and broker quotes are based on inputs that are unobservable in the market. If fair value is based on broker quotes, the Company and its subsidiaries check the validity of received prices based on comparison to prices of other similar assets and market data such as relevant benchmark indices. The Company and its subsidiaries classified CMBS and RMBS in the Americas and other asset-backed securities as Level 2 if the inputs such as trading price and/or bid price are observable. The Company and its subsidiaries classified CMBS and RMBS in the Americas and other asset-backed securities as Level 3 if the Company and subsidiaries evaluate the fair value based on the unobservable inputs. In determining whether the inputs are observable or unobservable, the Company and its subsidiaries evaluate various factors such as the lack of recent transactions, price quotations that are not based on current information or vary substantially over time or among market makers, a significant increase in implied risk premium, a wide bid-ask principal-to-principal Equity securities and investment in affiliates If active market prices are available, fair value measurement is based on quoted active market prices and, accordingly, these securities are classified as Level 1. If active market prices are not available, fair value measurement is based on observable inputs other than quoted prices included within Level 1, such as prices for similar assets and accordingly these securities are classified as Level 2. Certain subsidiaries elected the fair value option for investments in some funds. In addition, a certain subsidiary measures its investment held by the investment company which is owned by the subsidiary at fair value. These investment funds are classified as Level 3, because the subsidiaries measure their fair value based on discounted cash flow methodologies using inputs that are unobservable in the market and broker quotes. Derivatives For exchange-traded derivatives, fair value is based on quoted market prices, and accordingly, classified as Level 1. For non-exchange Reinsurance recoverables Certain subsidiaries have elected the fair value option for certain reinsurance contracts related to variable annuity and variable life insurance contracts to partially offset the changes in fair value recognized in earnings of the policy liabilities and policy account balances attributable to the changes in the minimum guarantee risks of the variable annuity and variable life insurance contracts. These reinsurance contracts for which the fair value option is elected are classified as Level 3 because the subsidiaries measure their fair value using discounted cash flow methodologies based on inputs that are unobservable in the market. Variable annuity and variable life insurance contracts A certain subsidiary has elected the fair value option for the entire variable annuity and variable life insurance contracts held in order to match earnings recognized for changes in fair value of policy liabilities and policy account balances with the earnings recognized for gains or losses from the investment assets managed on behalf of variable annuity and variable life policyholders, derivative contracts and changes in fair value of reinsurance contracts. The changes in fair value of the variable annuity and variable life insurance contracts are linked to the fair value of the investment in securities managed on behalf of variable annuity and variable life policyholders. These securities consist mainly of equity securities traded in the market. In addition, variable annuity and variable life insurance contracts are exposed to the minimum guarantee risk, and the subsidiary adjusts the fair value of the underlying investments by incorporating changes in fair value of the minimum guarantee risk in the evaluation of the fair value of the entire variable annuity and variable life insurance contracts. The variable annuity and variable life insurance contracts for which the fair value option is elected are classified as Level 3 because the subsidiary measures the fair value using discounted cash flow methodologies based on inputs that are unobservable in the market. Information about Level 3 Fair Value Measurements The following tables provide information about the valuation techniques and significant unobservable inputs used in the valuation of Level 3 assets and liabilities measured at fair value on a recurring basis as of March 31, 2019 and December 31, 2019. March 31, 2019 Millions of yen Fair value Valuation technique(s) Significant unobservable inputs Range (Weighted average) Assets: Available-for-sale Japanese prefectural and foreign municipal bond securities ¥ 2,888 Discounted cash flows Discount rate 8.5% (8.5%) Corporate debt securities 2,162 Discounted cash flows Discount rate 0.1% – 1.3% (0.8%) 4,996 Appraisals/Broker quotes — — Other asset-backed securities and debt securities 23,651 Discounted cash flows Discount rate 0.2% – 51.2% (8.3%) Probability of default 0.6% – 1.6% (0.8%) 66,750 Appraisals/Broker quotes — — Equity securities: Investment funds 6,012 Internal cash flows Discount rate 0.0% – 65.0% (11.3%) 32,702 Discounted cash flows Discount rate 3.8% – 17.0% (14.1%) 22,479 Appraisals/Broker quotes — — Derivative assets: Options held/written and other 5,005 Discounted cash flows Disco |
Acquisitions and Divestitures
Acquisitions and Divestitures | 9 Months Ended |
Dec. 31, 2019 | |
Business Combinations [Abstract] | |
Acquisitions and Divestitures | 4. Acquisitions and Divestitures (1) Acquisitions There were no material acquisitions during the nine months ended December 31, 2018 and 2019. As a result of the reassessment of the provisional purchase price allocation during the three months ended June 30, 2019, the Company recognized bargain purchase gains of ¥1,022 million associated with two of its acquisitions executed in the three months ended March 31, 2019. The bargain purchase gains could possibly be adjusted because the purchase price allocations for these acquisitions have not been completed yet with respect to the final valuation of acquired intangible assets among others. (2) Divestitures Gains on sales of subsidiaries and affiliates and liquidation losses, net for the nine months ended December 31, 2018 and 2019 were ¥20,470 million and ¥58,488 million, respectively. Gains on sales of subsidiaries and affiliates and liquidation losses, net for the nine months ended December 31, 2018 mainly consisted of ¥18,688 million in Overseas Business segment, ¥1,220 million in Maintenance Leasing segment, ¥556 million in Investment and Operation segment. Gains on sales of subsidiaries and affiliates and liquidation losses, net for the nine months ended December 31, 2019 mainly consisted of ¥24,202 million in Overseas Business segment, ¥18,007 million in Investment and Operation segment and ¥16,216 million in Real Estate segment. Gains on sales of subsidiaries and affiliates and liquidation losses, net for the three months ended December 31, 2018 and 2019 were ¥1,438 million and ¥25,200 million, respectively. Gains on sales of subsidiaries and affiliates and liquidation losses, net for the three months ended December 31, 2018 mainly consisted of ¥1,220 million in Maintenance Leasing segment, ¥218 million in Overseas Business segment. Gains on sales of subsidiaries and affiliates and liquidation losses, net for the three months ended December 31, 2019 mainly consisted of ¥16,072 million in Investment and Operation segment, ¥8,954 million in Overseas Business segment. During the three months ended September 30, 2019, the Company sold ORIX Living Corporation (hereinafter, “ORIX Living”, which was a consolidated subsidiary of the Company and has changed its name to GOOD TIME LIVING Corporation on August 30, 2019). Gains on the sale of the subsidiary were included in Real Estate segment. Because the Company has determined to sell the subsidiary during fiscal 2019, the assets or debts of the subsidiary were mainly recognized as property under facility operations of ¥42,595 million and other liabilities of ¥23,078 million, which were classified as held for sale, in the Company’s consolidated balance sheets as of March 31, 2019. Neither gain nor loss was recognized as the related assets and liabilities were classified as held for sale. These related assets and liabilities were included in Real Estate segment. |
Revenues from Contracts with Cu
Revenues from Contracts with Customers | 9 Months Ended |
Dec. 31, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Revenues from Contracts with Customers | 5. Revenues from Contracts with Customers The following table provides information about revenues from contracts with customers, and other sources of revenue for the nine and three months ended December 31, 2018 and 2019 are as follows; Millions of yen Millions of yen Nine months ended December 31, 2018 Nine months ended December 31, 2019 Revenues from contracts with customers ¥ 1,052,813 ¥ 866,201 Other revenues * 743,342 818,178 Total revenues ¥ 1,796,155 ¥ 1,684,379 Millions of yen Millions of yen Three months ended December 31, 2018 Three months ended December 31, 2019 Revenues from contracts with customers ¥ 325,457 ¥ 289,145 Other revenues * 208,684 282,556 Total revenues ¥ 534,141 ¥ 571,701 * Other revenues are not in the scope of revenue from contracts with customers, such as life insurance premiums and related investment income, operating leases, finance revenues that include interest income, and others. The Company and its subsidiaries recognize revenues when control of the promised goods or services is transferred to our customers, in the amounts that reflect the consideration we expect to receive in exchange for those goods or services. Revenues are recognized net of discounts, incentives and estimated sales returns. Amount to be collected for third party is deducted from revenues. The Company and its subsidiaries evaluate whether we are principal or agent on distinctive goods or services. In transaction that third party concerns, if the Company and its subsidiaries control the goods or services before they are transferred to customers, revenue is recognized on gross amount as the principal. There is no significant variability in considerations included in revenues, except for the performance fees regarding asset management business hereinafter, and there is no significant financing component in considerations on transactions. For further information about breakdowns of revenues disaggregated by goods or services category and geographical location by segment, see Note 24 “Segment Information.” Revenue recognition criteria on each goods or services category are mainly as follows: Sales of goods The Company and its subsidiaries sell various goods such as precious metals, medical equipment, accounting software and other to customers. Revenues from sales of goods are recognized when there is a transfer of control of the product to customers. The Company and its subsidiaries determine transfer of control based on when the products are shipped or delivered to customers, or inspected by customers. Real estate sales Certain subsidiaries are involved in developing and selling real estates. Revenues from sale of detached houses and residential condominiums are recognized when the real estate is delivered to customers. Asset management and servicing Certain subsidiaries offer customers investment management services for their financial assets, asset management as well as maintenance and administrative services for their real estate properties. Furthermore, the Company and its subsidiaries perform servicing on behalf of customers. Revenues from asset management and servicing primarily include management fees, servicing fees, and performance fees. Management and servicing fees are recognized over the contract period with customers, since the customers simultaneously receive and consume the benefits provided by the performance as the subsidiaries perform. Management fees are calculated based on the predetermined percentages of the market value of the assets under management or net assets of the investment funds in accordance with contract terms. Servicing fees are calculated based on the predetermined percentages of the amount in assets under management in accordance with contract terms. Fees based on the performance of the assets under management are recognized when the performance obligations are satisfied, to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved. The performance fee is estimated by using the most likely amount method, in accordance with contract terms. Servicing fees related to financial assets that the Company and its subsidiaries had originated and transferred to investors, are not in the scope of revenue from contracts with customers. These fees are accounted for servicing assets under which the benefits of servicing are expected to more than adequately compensate for performing the servicing, or servicing liabilities under which the benefits of servicing are not expected to adequately compensate for performing the servicing. Automobile related services Certain subsidiaries mainly provide automobile maintenance services to customers, as automobile related services. In the service, since customers simultaneously receive and consume the benefits provided by the performance as the subsidiaries perform, revenues are recognized over the contract period with customers. For measurement of progress, the cost incurred is used, because that reasonably describes transfer of control of services to customers. The subsidiaries receive payments from customers before satisfying performance obligations, and the amounts are reported in other liabilities on the consolidated balance sheets as contract liabilities. Facilities operation The Company and its subsidiaries are running hotels, Japanese inns, training facilities, a multipurpose dome and other facilities. Revenues from these operations are recognized over the customers’ usage period of the facilities, since customers simultaneously receive and consume the benefits provided by the performance as the Company and its subsidiaries perform. The value transferred to customers is directly measured based on the usage period. With respect to operation of a multipurpose dome and other facilities, certain subsidiaries receive payments from customers before satisfying performance obligations, and the amounts are reported in other liabilities on the consolidated balance sheets as contract liabilities. Gains on sale of property under facility operations included in services income are not in the scope of revenue from contracts with customers due to the gains are transfers of nonfinancial assets to counterparties that are not our customers. Environment and energy services The Company and its subsidiaries offer services that provide electric power for business operators’ factories, office buildings and other facilities. Revenues from electric power supply by purchasing electricity or running power plants are recognized over the contracted distribution period with customers, since customers simultaneously receive and consume the benefits provided by the performance as the Company and its subsidiaries perform. The value transferred to customers is directly measured based on electricity usage by customers. Furthermore, certain subsidiaries are running waste processing facilities. Revenues from resources and waste processing business are primarily recognized over the service contract period with customers, since customers simultaneously receive and consume the benefits provided by the performance as the subsidiaries perform. The value transferred to customers is directly measured based on the amount of resources and waste to be processed. Real estate management and brokerage The Company and its subsidiaries mainly offer management of condominiums, office buildings, and facilities and other, to customers, as real estate management and brokerage business. Since customers simultaneously receive and consume the benefits provided by the performance as the Company and its subsidiaries perform, revenues from these services are recognized over the contract period with customers. Direct measurement of the value transferred to customers based on time elapsed, is used as method of measuring progress. The Company and its subsidiaries receive payments from customers before satisfying performance obligations, and the amounts are reported in other liabilities on the consolidated balance sheets as contract liabilities. Real estate contract work Certain subsidiaries offer repair and contract work for condominiums, office buildings, and facilities, and other, to customers. The work is held on the real estate where customers own or rent, and the subsidiaries’ performance creates the asset that the customers’ control as the asset is created or enhanced. Additionally, the performance does not create an asset with an alternative use to the subsidiaries, and the subsidiaries have a substantial enforceable right to payment for performance completed to date so that revenues are recognized over the contract work period. For measurement of progress, the cost incurred is used, because that reasonably describes transfer of control of services to customers. The subsidiaries recognize contract assets regarding a part of performance obligations that the subsidiaries performed, and the amounts are reported in other assets on the consolidated balance sheets. Furthermore, the subsidiaries receive payments from customers before satisfying performance obligations, and the amounts are reported in other liabilities on the consolidated balance sheets as contract liabilities. Other The Company and its subsidiaries have been developing a variety of businesses. Main revenue streams are as follows; Maintenance services of software, measurement equipment and other: Certain subsidiaries offer accounting software maintenance services and support, and maintenance of measurement equipment to customers. Revenues from these services are recognized over the contract period with customers, since customers simultaneously receive and consume the benefits provided by the performance as the subsidiaries perform. For measurement of progress, the cost incurred is used, because that reasonably describes transfer of control of services to customers. The subsidiaries receive payments from customers before satisfying performance obligations, and the amounts are reported in other liabilities on the consolidated balance sheets as contract liabilities. Fee business: The Company and its subsidiaries are involved in insurance policy referrals and other agency business. Commission revenues from these businesses are primarily recognized when the contract between our customers and their client is signed. The following table provides information about balances from contracts with customers as of March 31, 2019 and December 31, 2019. Millions of yen March 31, 2019 December 31, 2019 Trade Notes, Accounts and Other Receivable ¥ 161,884 ¥ 166,573 Contract assets (Included in Other Assets) 2,277 6,573 Contract liabilities (Included in Other Liabilities) 45,371 31,228 For the nine months ended December 31, 2018 and 2019, there were no significant changes in contract assets. For the nine months ended December 31, 2018, there were no significant changes in contract liabilities. For the nine months ended December 31, 2019, contract liabilities decreased due to deconsolidation of contract liabilities of ¥14,342 million related to facilities operation caused by the sale of ORIX Living. For the nine months ended December 31, 2018, revenue amounted to ¥34,564 million was included in contract liabilities as of the beginning of the previous fiscal year. For the nine months ended December 31, 2019, revenue amounted to ¥28,209 million was included in contract liabilities as of the end of the previous fiscal year. For the three months ended December 31, 2018, revenue amounted to ¥5,328 million was included in contract liabilities as of the beginning of the previous fiscal year. For the three months ended December 31, 2019, revenue amounted to ¥5,262 million was included in contract liabilities as of the end of the previous fiscal year. As of December 31, 2019, transaction price allocated to the performance obligations that are unsatisfied (or partially unsatisfied) is mainly related to automobile related services, real estate sales and amounted to ¥142,028 million. Remaining term for the obligations ranges up to 15 years. Furthermore, automobile related services primarily constitute the performance obligations that are unsatisfied (or partially unsatisfied) will be recognized as revenue over the next 10 years. The Company and its subsidiaries applied practical expedients in the disclosure, and performance obligations for contracts that have an original expected duration of one year or less and contracts under which the value transferred to a customer is directly measured and recognized as revenue by the amount it has a right to invoice to the customer are not included. The transaction price allocated to unsatisfied performance obligations does not include the estimate of material variable consideration. |
Leases
Leases | 9 Months Ended |
Dec. 31, 2019 | |
Leases [Abstract] | |
Leases | 6. Leases (1) Lessor Lessor leases consist of leases for various equipment types, including office equipment, industrial machinery, transportation equipment and real estate. Net investment in leases includes sales-type leases and direct-financing leases. Interest income on net investment in leases is recognized over the life of each respective lease using the interest method. Sales-type leases and direct financing leases are full-payout leases. Leases not qualifying as sales-type leases or direct financing leases are accounted for as operating leases and related revenue is recognized on an equality over the lease term. In providing leasing services, the Company and its subsidiaries execute supplemental businesses, such as paying insurance and handling taxes on leased assets on behalf of lessees. Some of the contracts include options to extend or to terminate the lease. The Company and its subsidiaries determine the lease term while taking such periods covered by options into account when determined the lease term when it is reasonably certain that it will exercise these options. The majority of the lease contracts do not contain bargain purchase options for customers. The estimated unguaranteed residual value represents estimated proceeds from the disposition of equipment at the time the lease is terminated. The estimated unguaranteed residual value is determined based on market value of used equipment, estimates of when and how much equipment will become obsolete, and actual recovery being experienced for similar used equipment. The Company and its subsidiaries may incur losses if the estimated residual amounts are unable to collect or need to recognize valuation losses when the estimates differ from actual trends in equipment valuation and the secondhand market. The risk of loss on leased assets relating to the estimated unguaranteed residual value of the leased assets is monitored through projections of the estimated unguaranteed residual value at lease origination and periodic review of estimated unguaranteed residual value. Initial direct costs of sales-type leases and direct financing leases are mainly being deferred and amortized as a yield adjustment over the life of the related lease by using interest method. The unamortized balance of initial direct costs of sales-type leases and direct financing leases is reflected as net investment in leases. Initial direct costs of operating leases are being deferred and amortized as a straight-line basis over the life of the related lease. The unamortized balance of initial direct costs is reflected as investment in operating leases. When auto leases are bundled with maintenance contracts, considerations on contracts are allocated based upon the estimated standalone selling prices of the lease and non-lease non-lease Certain subsidiary is providing automobile related services, and applying practical expedients, to not separate non-lease non-lease Lease income for the nine and three months ended December 31, 2019 are as follows: Millions of yen Nine months ended December 31, 2019 Lease income—net investment in leases Interest income ¥ 41,028 Other 1,601 Lease income—operating leases * 303,148 Total lease income ¥ 345,777 * Gains from the disposition of real estate under operating leases included in operating lease revenues are ¥23,044 million, and gains from the disposition of operating lease assets other than real estate included in operating lease revenues are ¥14,234 million for the nine months ended December 31, 2019. Millions of yen Three months ended December 31, 2019 Lease income—net investment in leases Interest income ¥ 14,020 Other 511 Lease income—operating leases * 100,743 Total lease income ¥ 115,274 * Gains from the disposition of real estate under operating leases included in operating lease revenues are ¥4,636 million, and gains from the disposition of operating lease assets other than real estate included in operating lease revenues are ¥6,047 million for the three months ended December 31, 2019. Lease income from net investment in leases is included in finance revenues in the consolidated statements of income. Net investment in leases at December 31, 2019 consists of the following: Millions of yen December 31, 2019 Lease receivables ¥ 1,108,611 Unguaranteed residual value 29,325 Initial direct costs 4,403 Total ¥ 1,142,339 Investment in operating leases at December 31, 2019 consists of the following: Millions of yen December 31, 2019 Transportation equipment ¥ 1,386,422 Measuring and information-related equipment 278,294 Real estate 305,842 Other 31,593 2,002,151 Accumulated depreciation (659,318 ) Net 1,342,833 Right-of-use 128,951 Accrued rental receivables 33,469 Total ¥ 1,505,253 Costs of operating leases include depreciation and various expenses (insurance, property tax and other). Depreciation and various expenses for the nine and three months ended December 31, 2019 are as follows: Millions of yen Nine months ended December 31, 2019 Depreciation expenses ¥ 155,668 Various expenses 41,641 Total ¥ 197,309 Millions of yen Three months ended December 31, 2019 Depreciation expenses ¥ 52,714 Various expenses 13,674 Total ¥ 66,388 Remaining lease receivables of net investment in leases (including residual value guarantees) range up to 30 years at December 31, 2019. Remaining lease receivables of the operating lease contracts range up to 61 years at December 31, 2019. At December 31, 2019, the amounts due in each of the next five years and thereafter are as follows: Millions of yen Years ending December 31, Net investment in leases Operating leases 2020 ¥ 455,576 ¥ 289,678 2021 307,960 200,061 2022 205,011 138,467 2023 121,870 91,911 2024 68,358 55,608 Thereafter 86,125 149,596 Total lease payments 1,244,900 ¥ 925,321 Less imputed interest (136,289 ) Total lease receivables ¥ 1,108,611 (2) Lessee The Company and its subsidiaries determine if an arrangement is a lease at inception of each contract. The Company and its subsidiaries have operating and finance leases for various assets including lands, office buildings, employees’ accommodations, and vehicles. Some of the lease arrangements include options to extend or terminate lease term. The Company and its subsidiaries determine the lease term while taking such options into account when determined the lease term when it is reasonably certain that it will exercise these options. The Company and its subsidiaries’ lease arrangements do not contain material residual value guarantees or material restrictive covenants. As a rate implicit in the most of the leases cannot be readily determinable, the Company and its subsidiaries use incremental borrowing rate based on the information available at commencement to determine the present values of lease payments. The component of lease expense for the nine and three months ended December 31, 2019 are as follows: Millions of yen Nine months ended December 31, 2019 Finance lease cost Depreciation expenses of right-of-use ¥ 667 Interest expenses of lease liabilities 267 934 Operating lease cost 31,791 Short-term lease cost 2,019 Variable lease cost 920 Sublease income (2,828 ) Total ¥ 32,836 Millions of yen Three months ended December 31, 2019 Finance lease cost Depreciation expenses of right-of-use ¥ 212 Interest expenses of lease liabilities 36 248 Operating lease cost 10,473 Short-term lease cost 717 Variable lease cost 375 Sublease income (708 ) Total ¥ 11,105 Supplemental cash flow information related to leases for the nine months ended December 31, 2019 are as follows: Millions of yen Nine months ended December 31, 2019 Finance leases Operating leases Cash paid for amounts included in the measurements of lease liabilities: Cash flows from operating activities ¥ 267 ¥ 33,685 Cash flows from financing activities 409 0 Right-of-use ¥ 531 ¥ 29,800 Supplemental balance sheet information related to lessee leases at December 31, 2019 are as follows: Millions of yen, except lease term and discount rate December 31, 2019 Finance leases Operating leases Investment in Operating Leases ¥ 0 ¥ 128,951 Property under Facility Operations 2,299 69,719 Office Facilities 9 75,816 Total right-of-use 2,308 274,486 Other Liabilities 2,914 271,093 Total lease liabilities ¥ 2,914 ¥ 271,093 Weighted average remaining lease term 9years 14years Weighted average discount rate 3.02 % 1.15 % At December 31, 2019, the amounts of lease liabilities related to lessee leases due in each of the next five years and thereafter are as follows: Millions of yen Years ending December 31, Finance leases Operating leases 2020 ¥ 487 ¥ 45,643 2021 484 32,221 2022 482 28,155 2023 477 25,500 2024 473 21,481 Thereafter 963 138,354 Total lease payments 3,366 291,354 Less imputed interest (452 ) (20,261 ) Total lease liabilities ¥ 2,914 ¥ 271,093 |
Credit Quality of Financing Rec
Credit Quality of Financing Receivables and the Allowance for Credit Losses | 9 Months Ended |
Dec. 31, 2019 | |
Receivables [Abstract] | |
Credit Quality of Financing Receivables and the Allowance for Credit Losses | 7. Credit Quality of Financing Receivables and the Allowance for Credit Losses The Company and its subsidiaries provide the following information disaggregated by portfolio segment and class of financing receivable. Allowance for credit losses—by portfolio segment Credit quality of financing receivables—by class • Impaired loans • Credit quality indicators • Non-accrual past-due Information about troubled debt restructurings—by class A portfolio segment is defined as the level at which an entity develops and documents a systematic methodology to determine its allowance for credit losses. The Company and its subsidiaries classify our portfolio segments by instruments of loans and finance leases. Classes of financing receivables are determined based on the initial measurement attribute, risk characteristics of the financing receivables and the method for monitoring and assessing obligors’ credit risk, and are defined as the level of detail necessary for a financial statement user to understand the risks inherent in the financing receivables. Classes of financing receivables generally are a disaggregation of a portfolio segment, and the Company and its subsidiaries disaggregate our portfolio segments into classes by regions, instruments or industries of our debtors. The following table provides information about the allowance for credit losses as of March 31, 2019, for the nine and three months ended December 31, 2018 and 2019: Nine months ended December 31, 2018 Millions of yen Loans Finance leases Total Consumer Corporate Purchased loans *1 Non-recourse loans Other Allowance for credit losses : Beginning balance ¥ 21,196 ¥ 688 ¥ 18,407 ¥ 4,292 ¥ 10,089 ¥ 54,672 Provision (Reversal) 9,129 (13 ) 2,418 (241 ) 2,782 14,075 Charge-offs (7,867 ) 0 (2,692 ) (358 ) (1,671 ) (12,588 ) Recoveries 465 0 196 102 141 904 Other *2 (16 ) 18 346 2 (70 ) 280 Ending balance ¥ 22,907 ¥ 693 ¥ 18,675 ¥ 3,797 ¥ 11,271 ¥ 57,343 Individually evaluated for impairment 3,349 47 6,985 2,406 0 12,787 Not individually evaluated for impairment 19,558 646 11,690 1,391 11,271 44,556 Financing receivables : Ending balance ¥ 1,856,623 ¥ 89,084 ¥ 1,166,032 ¥ 16,756 ¥ 1,165,792 ¥ 4,294,287 Individually evaluated for impairment 22,793 3,232 24,215 4,176 0 54,416 Not individually evaluated for impairment 1,833,830 85,852 1,141,817 12,580 1,165,792 4,239,871 Three months ended December 31, 2018 Millions of yen Loans Finance leases Total Consumer Corporate Purchased loans *1 Non-recourse loans Other Allowance for credit losses : Beginning balance ¥ 22,060 ¥ 627 ¥ 18,409 ¥ 3,905 ¥ 10,839 ¥ 55,840 Provision (Reversal) 3,390 74 1,426 (55 ) 1,030 5,865 Charge-offs (2,727 ) 0 (931 ) (54 ) (496 ) (4,208 ) Recoveries 178 0 48 6 21 253 Other *2 6 (8 ) (277 ) (5 ) (123 ) (407 ) Ending balance ¥ 22,907 ¥ 693 ¥ 18,675 ¥ 3,797 ¥ 11,271 ¥ 57,343 March 31, 2019 Millions of yen Loans Finance leases Total Consumer Corporate Purchased loans *1 Non-recourse loans Other Allowance for credit losses : Ending balance ¥ 21,195 ¥ 919 ¥ 20,662 ¥ 3,186 ¥ 12,049 ¥ 58,011 Individually evaluated for impairment 3,372 166 8,276 1,917 0 13,731 Not individually evaluated for impairment 17,823 753 12,386 1,269 12,049 44,280 Financing receivables : Ending balance ¥ 1,906,022 ¥ 99,028 ¥ 1,201,893 ¥ 16,416 ¥ 1,155,632 ¥ 4,378,991 Individually evaluated for impairment 23,163 4,448 27,452 3,764 0 58,827 Not individually evaluated for impairment 1,882,859 94,580 1,174,441 12,652 1,155,632 4,320,164 Nine months ended December 31, 2019 Millions of yen Loans Finance leases Total Consumer Corporate Purchased loans *1 Non-recourse loans Other Allowance for credit losses : Beginning balance ¥ 21,195 ¥ 919 ¥ 20,662 ¥ 3,186 ¥ 12,049 ¥ 58,011 Provision (Reversal) 9,931 353 3,240 (133 ) 2,333 15,724 Charge-offs (9,360 ) (1 ) (5,046 ) (470 ) (1,937 ) (16,814 ) Recoveries 419 0 142 48 23 632 Other *3 (26 ) (6 ) (609 ) 11 (1 ) (631 ) Ending balance ¥ 22,159 ¥ 1,265 ¥ 18,389 ¥ 2,642 ¥ 12,467 ¥ 56,922 Individually evaluated for impairment 3,528 229 6,009 1,488 0 11,254 Not individually evaluated for impairment 18,631 1,036 12,380 1,154 12,467 45,668 Financing receivables : Ending balance ¥ 2,126,058 ¥ 143,103 ¥ 1,251,329 ¥ 14,806 ¥ 1,142,339 ¥ 4,677,635 Individually evaluated for impairment 26,147 2,516 38,119 2,998 0 69,780 Not individually evaluated for impairment 2,099,911 140,587 1,213,210 11,808 1,142,339 4,607,855 Three months ended December 31, 2019 Millions of yen Loans Finance leases Total Consumer Corporate Purchased loans *1 Non-recourse loans Other Allowance for credit losses : Beginning balance ¥ 21,789 ¥ 1,055 ¥ 17,333 ¥ 2,760 ¥ 12,236 ¥ 55,173 Provision (Reversal) 2,956 192 1,499 (55 ) 559 5,151 Charge-offs (2,740 ) 0 (687 ) (107 ) (599 ) (4,133 ) Recoveries 146 0 45 28 13 232 Other *3 8 18 199 16 258 499 Ending balance ¥ 22,159 ¥ 1,265 ¥ 18,389 ¥ 2,642 ¥ 12,467 ¥ 56,922 Note: Loans held for sale are not included in the table above. *1 Purchased loans represent loans with evidence of deterioration of credit quality since origination and for which it is probable at acquisition that collection of all contractually required payments from the debtors is unlikely. *2 Other mainly includes foreign currency translation adjustments. *3 Other mainly includes foreign currency translation adjustments and a decrease in allowance related to a sale of a subsidiary. In developing the allowance for credit losses, the Company and its subsidiaries consider, among other things, the following factors: • business characteristics and financial conditions of obligors; • current economic conditions and trends; • prior charge-off • current delinquencies and delinquency trends; and • value of underlying collateral and guarantees. The Company and its subsidiaries individually develop the allowance for credit losses for impaired loans. For non-impaired charge-off charge-off In common with all portfolio segments, a deterioration of debtors’ condition may increase the risk of delay in payments of principal and interest. For loans to consumer borrowers, the amount of the allowance for credit losses is changed by the variation of individual debtors’ creditworthiness and value of underlying collateral and guarantees, and the prior charge-off charge-off The decline of the value of underlying collateral and guarantees may increase the risk of inability to collect from the loans and finance leases. Particularly for non-recourse In common with all portfolio segments, the Company and its subsidiaries charge off doubtful receivables when the likelihood of any future collection is believed to be minimal, mainly based upon an evaluation of the relevant debtors’ creditworthiness and the liquidation status of collateral. The following table provides information about the impaired loans as of March 31, 2019 and December 31, 2019: March 31, 2019 Millions of yen Portfolio segment Class Loans individually evaluated for impairment Unpaid principal balance Related allowance With no related allowance recorded *1 ¥ 17,593 ¥ 17,521 ¥ 0 Consumer borrowers 1,158 1,111 0 Housing loans 589 542 0 Card loans 0 0 0 Other 569 569 0 Corporate borrowers 16,329 16,304 0 Non-recourse Japan 232 232 0 The Americas 3,404 3,404 0 Other Real estate companies 887 887 0 Entertainment companies 0 0 0 Other 11,806 11,781 0 Purchased loans 106 106 0 With an allowance recorded *2 41,234 40,234 13,731 Consumer borrowers 22,005 21,401 3,372 Housing loans 3,845 3,639 835 Card loans 3,945 3,937 633 Other 14,215 13,825 1,904 Corporate borrowers 15,571 15,175 8,442 Non-recourse Japan 0 0 0 The Americas 812 812 166 Other Real estate companies 1,493 1,480 419 Entertainment companies 1,382 1,374 490 Other 11,884 11,509 7,367 Purchased loans 3,658 3,658 1,917 Total ¥ 58,827 ¥ 57,755 ¥ 13,731 Consumer borrowers 23,163 22,512 3,372 Housing loans 4,434 4,181 835 Card loans 3,945 3,937 633 Other 14,784 14,394 1,904 Corporate borrowers 31,900 31,479 8,442 Non-recourse Japan 232 232 0 The Americas 4,216 4,216 166 Other Real estate companies 2,380 2,367 419 Entertainment companies 1,382 1,374 490 Other 23,690 23,290 7,367 Purchased loans 3,764 3,764 1,917 December 31, 2019 Millions of yen Portfolio segment Class Loans individually evaluated for impairment Unpaid principal balance Related allowance With no related allowance recorded *1 ¥ 30,813 ¥ 30,811 ¥ 0 Consumer borrowers 1,088 1,086 0 Housing loans 682 680 0 Card loans 0 0 0 Other 406 406 0 Corporate borrowers 29,616 29,616 0 Non-recourse The Americas 1,751 1,751 0 Other Real estate companies 14,009 14,009 0 Entertainment companies 31 31 0 Other 13,825 13,825 0 Purchased loans 109 109 0 With an allowance recorded *2 38,967 38,507 11,254 Consumer borrowers 25,059 24,740 3,528 Housing loans 5,301 5,285 802 Card loans 3,914 3,906 625 Other 15,844 15,549 2,101 Corporate borrowers 11,019 10,878 6,238 Non-recourse The Americas 765 765 229 Other Real estate companies 1,173 1,160 373 Entertainment companies 453 452 109 Other 8,628 8,501 5,527 Purchased loans 2,889 2,889 1,488 Total ¥ 69,780 ¥ 69,318 ¥ 11,254 Consumer borrowers 26,147 25,826 3,528 Housing loans 5,983 5,965 802 Card loans 3,914 3,906 625 Other 16,250 15,955 2,101 Corporate borrowers 40,635 40,494 6,238 Non-recourse The Americas 2,516 2,516 229 Other Real estate companies 15,182 15,169 373 Entertainment companies 484 483 109 Other 22,453 22,326 5,527 Purchased loans 2,998 2,998 1,488 Note: Loans held for sale are not included in the table above. *1 “With no related allowance recorded” represents impaired loans with no allowance for credit losses as all amounts are considered to be collectible. *2 “With an allowance recorded” represents impaired loans with the allowance for credit losses as all or a part of the amounts are not considered to be collectible. The Company and its subsidiaries recognize installment loans other than purchased loans and loans to consumer borrowers as impaired loans when principal or interest is past-due non-recourse loan-to-value For purchased loans, the Company and its subsidiaries recognize them as impaired loans when it is probable that the Company and its subsidiaries will be unable to collect book values of the remaining investment due to factors such as a decline in the real estate collateral value and debtors’ creditworthiness since the acquisition of these loans. The Company and its subsidiaries consider that loans to consumer borrowers, including housing loans, card loans and other, are impaired when terms of these loans are modified as troubled debt restructurings. Interest payments received on impaired loans other than purchased loans are recorded as interest income unless the collection of the remaining investment is doubtful at which time payments received are recorded as reductions of principal. For purchased loans, although the acquired assets may remain loans in legal form, collections on these loans often do not reflect the normal historical experience of collecting delinquent accounts, and the need to tailor individual collateral-realization strategies often makes it difficult to reliably estimate the amount, timing, or nature of collections. Accordingly, the Company and its subsidiaries use the cost recovery method of income recognition for such purchased loans regardless of whether impairment is recognized or not. In common with all classes, impaired loans are individually evaluated for a valuation allowance based on the present value of expected future cash flows, the loan’s observable market price or the fair value of the collateral securing the loans if the loans are collateral-dependent. For non-recourse non-recourse The following table provides information about the average recorded investments in impaired loans and interest income on impaired loans for the nine and three months ended December 31, 2018 and 2019: Nine months ended December 31, 2018 Millions of yen Portfolio segment Class Average recorded investments in impaired loans * Interest income on impaired loans Interest on impaired loans collected in cash Consumer borrowers ¥ 20,526 ¥ 299 ¥ 270 Housing loans 4,121 105 103 Card loans 4,029 46 40 Other 12,376 148 127 Corporate borrowers 24,493 248 237 Non-recourse Japan 249 4 4 The Americas 2,607 0 0 Other Real estate companies 2,490 26 26 Entertainment companies 1,536 29 23 Other 17,611 189 184 Purchased loans 4,761 42 41 Total ¥ 49,780 ¥ 589 ¥ 548 Nine months ended December 31, 2019 Millions of yen Portfolio segment Class Average recorded investments in impaired loans * Interest income on impaired loans Interest on impaired loans collected in cash Consumer borrowers ¥ 24,268 ¥ 341 ¥ 300 Housing loans 4,906 109 105 Card loans 3,924 44 38 Other 15,438 188 157 Corporate borrowers 31,962 106 104 Non-recourse Japan 172 2 2 The Americas 3,077 0 0 Other Real estate companies 5,260 25 25 Entertainment companies 940 18 18 Other 22,513 61 59 Purchased loans 3,484 139 139 Total ¥ 59,714 ¥ 586 ¥ 543 Three months ended December 31, 2018 Millions of yen Portfolio segment Class Average recorded investments in impaired loans * Interest income on impaired loans Interest on impaired loans collected in cash Consumer borrowers ¥ 22,433 ¥ 78 ¥ 78 Housing loans 4,561 16 16 Card loans 4,003 14 14 Other 13,869 48 48 Corporate borrowers 27,695 26 26 Non-recourse Japan 242 0 0 The Americas 2,173 0 0 Other Real estate companies 2,417 8 8 Entertainment companies 1,472 5 5 Other 21,391 13 13 Purchased loans 4,311 10 10 Total ¥ 54,439 ¥ 114 ¥ 114 Three months ended December 31, 2019 Millions of yen Portfolio segment Class Average recorded investments in impaired loans * Interest income on impaired loans Interest on impaired loans collected in cash Consumer borrowers ¥ 25,781 ¥ 106 ¥ 100 Housing loans 5,840 34 32 Card loans 3,908 13 13 Other 16,033 59 55 Corporate borrowers 33,618 54 54 Non-recourse Japan 111 0 0 The Americas 2,495 0 0 Other Real estate companies 8,312 6 6 Entertainment companies 499 4 4 Other 22,201 44 44 Purchased loans 3,110 53 53 Total ¥ 62,509 ¥ 213 ¥ 207 Note: Loans held for sale are not included in the table above. * Average balances are calculated on the basis of fiscal beginning and quarter-end The following table provides information about the credit quality indicators as of March 31, 2019 and December 31, 2019: March 31, 2019 Millions of yen Non-performing Portfolio segment Class Performing Loans individually evaluated for impairment 90+ days past-due loans not individually evaluated for impairment Subtotal Total Consumer borrowers ¥ 1,870,447 ¥ 23,163 ¥ 12,412 ¥ 35,575 ¥ 1,906,022 Housing loans 1,593,005 4,434 1,388 5,822 1,598,827 Card loans 239,523 3,945 1,671 5,616 245,139 Other 37,919 14,784 9,353 24,137 62,056 Corporate borrowers 1,269,021 31,900 0 31,900 1,300,921 Non-recourse Japan 48,881 232 0 232 49,113 The Americas 45,699 4,216 0 4,216 49,915 Other Real estate companies 352,669 2,380 0 2,380 355,049 Entertainment companies 64,665 1,382 0 1,382 66,047 Other 757,107 23,690 0 23,690 780,797 Purchased loans 12,652 3,764 0 3,764 16,416 Finance leases 1,140,825 0 14,807 14,807 1,155,632 Japan 787,081 0 6,158 6,158 793,239 Overseas 353,744 0 8,649 8,649 362,393 Total ¥ 4,292,945 ¥ 58,827 ¥ 27,219 ¥ 86,046 ¥ 4,378,991 December 31, 2019 Millions of yen Non-performing Portfolio segment Class Performing Loans individually evaluated for impairment 90+ days past-due loans not individually evaluated for impairment Subtotal Total Consumer borrowers ¥ 2,087,663 ¥ 26,147 ¥ 12,248 ¥ 38,395 ¥ 2,126,058 Housing loans 1,832,996 5,983 1,665 7,648 1,840,644 Card loans 220,801 3,914 1,506 5,420 226,221 Other 33,866 16,250 9,077 25,327 59,193 Corporate borrowers 1,353,797 40,635 0 40,635 1,394,432 Non-recourse Japan 72,597 0 0 0 72,597 The Americas 67,990 2,516 0 2,516 70,506 Other Real estate companies 371,534 15,182 0 15,182 386,716 Entertainment companies 62,470 484 0 484 62,954 Other 779,206 22,453 0 22,453 801,659 Purchased loans 11,808 2,998 0 2,998 14,806 Finance leases 1,126,844 0 15,495 15,495 1,142,339 Japan 765,613 0 6,084 6,084 771,697 Overseas 361,231 0 9,411 9,411 370,642 Total ¥ 4,580,112 ¥ 69,780 ¥ 27,743 ¥ 97,523 ¥ 4,677,635 Note: Loans held for sale are not included in the table above. In common with all classes, the Company and its subsidiaries monitor the credit quality indicators as performing and non-performing non-performing past-due non-performing Out of non-performing past-due non-performing The following table provides information about the non-accrual past-due March 31, 2019 Millions of yen Past-due Portfolio segment Class 30-89 days past-due 90 days or more past-due Total past-due Total financing receivables Non-accrual Consumer borrowers ¥ 5,783 ¥ 15,647 ¥ 21,430 ¥ 1,906,022 ¥ 15,647 Housing loans 1,721 2,654 4,375 1,598,827 2,654 Card loans 548 2,127 2,675 245,139 2,127 Other 3,514 10,866 14,380 62,056 10,866 Corporate borrowers 4,960 13,753 18,713 1,300,921 27,979 Non-recourse Japan 0 0 0 49,113 0 The Americas 2,925 2,457 5,382 49,915 3,818 Other Real estate companies 2 552 554 355,049 1,392 Entertainment companies 0 663 663 66,047 663 Other 2,033 10,081 12,114 780,797 22,106 Finance leases 7,181 14,807 21,988 1,155,632 14,807 Japan 679 6,158 6,837 793,239 6,158 Overseas 6,502 8,649 15,151 362,393 8,649 Total ¥ 17,924 ¥ 44,207 ¥ 62,131 ¥ 4,362,575 ¥ 58,433 December 31, 2019 Millions of yen Past-due Portfolio segment Class 30-89 past-due 90 days or more past-due Total past-due Total financing receivables Non-accrual Consumer borrowers ¥ 5,817 ¥ 15,413 ¥ 21,230 ¥ 2,126,058 ¥ 15,413 Housing loans 1,826 2,657 4,483 1,840,644 2,657 Card loans 515 1,946 2,461 226,221 1,946 Other 3,476 10,810 14,286 59,193 10,810 Corporate borrowers 3,866 28,038 31,904 1,394,432 37,913 Non-recourse Japan 0 0 0 72,597 0 The Americas 142 2,516 2,658 70,506 2,516 Other Real estate companies 74 14,263 14,337 386,716 14,368 Entertainment companies 0 24 24 62,954 24 Other 3,650 11,235 14,885 801,659 21,005 Finance leases 6,413 15,495 21,908 1,142,339 15,495 Japan 700 6,084 6,784 771,697 6,084 Overseas 5,713 9,411 15,124 370,642 9,411 Total ¥ 16,096 ¥ 58,946 ¥ 75,042 ¥ 4,662,829 ¥ 68,821 Note: Loans held for sale and purchased loans are not included in the table above. In common with all classes, the Company and its subsidiaries consider financing receivables as past-due past-due past-due past-due The Company and its subsidiaries suspend accruing revenues on past-due past-due non-accrual non-accrual The following table provides information about troubled debt restructurings of financing receivables that occurred during the nine and three months ended December 31, 2018 and 2019: Nine months ended December 31, 2018 Millions of yen Portfolio segment Class Pre-modification outstanding recorded investment Post-modification outstanding recorded investment Consumer borrowers ¥ 9,873 ¥ 6,876 Housing loans 61 30 Card loans 1,624 1,055 Other 8,188 5,791 Corporate borrowers 6,002 6,001 Other Other 6,002 6,001 Total ¥ 15,875 ¥ 12,877 Nine months ended December 31, 2019 Millions of yen Portfolio segment Class Pre-modification outstanding recorded investment Post-modification outstanding recorded investment Consumer borrowers ¥ 9,187 ¥ 6,935 Housing loans 16 14 Card loans 1,422 1,052 Other 7,749 5,869 Corporate borrowers 4,196 4,196 Non-recourse The Americas 340 340 Other Other 3,856 3,856 Total ¥ 13,383 ¥ 11,131 Three months ended December 31, 2018 Millions of yen Portfolio segment Class Pre-modification outstanding recorded investment Post-modification outstanding recorded investment Consumer borrowers ¥ 3,961 ¥ 2,832 Housing loans 10 5 Card loans 552 363 Other 3,399 2,464 Corporate borrowers 2,141 2,141 Other Other 2,141 2,141 Total ¥ 6,102 ¥ 4,973 Three months ended December 31, 2019 Millions of yen Portfolio segment Class Pre-modification outstanding recorded investment Post-modification outstanding recorded investment Consumer borrowers ¥ 3,079 ¥ 2,301 Card loans 477 364 Other 2,602 1,937 Corporate borrowers 1,749 1,749 Non-recourse The Americas 340 340 Other Other 1,409 1,409 Total ¥ 4,828 ¥ 4,050 A troubled debt restructuring is defined as a restructuring of a financing receivable in which the creditor grants a concession to the debtor for economic or other reasons related to the debtor’s financial difficulties. The Company and its subsidiaries offer various types of concessions to our debtors to protect as much of our investment as possible in troubled debt restructurings. For the debtors of non-recourse non-recourse In common with all portfolio segments, financing receivables modified as troubled debt restructurings are recognized as impaired and are individually evaluated for a valuation allowance. In most cases, these financing receivables have already been considered impaired and individually evaluated for allowance for credit losses prior to the restructurings. However, as a result of the restructuring, the Company and its subsidiaries may recognize additional provision for the restructured receivables. The following table provides information about financing receivables modified as troubled debt restructurings within the previous 12 months from December 31, 2018 and for which there was a payment default during the nine and three months ended December 31, 2018: Nine months ended December 31, 2018 Millions of yen Portfolio segment Class Recorded investment Consumer borrowers ¥ 1,380 Card loans 23 Other 1,357 Total ¥ 1,380 Three months ended December 31, 2018 Millions of yen Portfolio segment Class Recorded investment Consumer borrowers ¥ 933 Card loans 20 Other 913 Total ¥ 933 The following table provides information about financing receivables modified as troubled debt restructurings within the previous 12 months from December 31, 2019 and for which there was a payment default during the nine and three months ended December 31, 2019: Nine months ended December 31, 2019 Millions of yen Portfolio segment Class Recorded investment Consumer borrowers ¥ 1,497 Card loans 7 Other 1,490 Consumer borrowers 127 Other Other 127 Total ¥ 1,624 Three months ended December 31, 2019 Millions of yen Portfolio segment Class Recorded investment Consumer borrowers ¥ 444 Card loans 4 Other 440 Corporate borrowers 127 Other Other 127 Total ¥ 571 The Company and its subsidiaries consider financing receivables whose terms have been modified in a restructuring as defaulted receivables when principal or interest is past-due In common with all portfolio segments, the Company and its subsidiaries suspend accruing revenues and may recognize additional provision as necessary for the defaulted financing receivables. As of March 31, 2019 and December 31, 2019, there were no foreclosed residential real estate properties. The carrying amounts of installment loans in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure were ¥251 million and ¥323 million as of March 31, 2019 and December 31, 2019, respectively. |
Investment in Securities
Investment in Securities | 9 Months Ended |
Dec. 31, 2019 | |
Investments Schedule [Abstract] | |
Investment in Securities | 8. Investment in Securities Investment in securities as of March 31, 2019 and December 31, 2019 consists of the following: Millions of yen March 31, 2019 December 31, 2019 Equity securities * ¥ 549,047 ¥ 537,004 Trading debt securities 1,564 1,371 Available-for-sale 1,264,244 1,576,349 Held-to-maturity 114,061 113,880 Total ¥ 1,928,916 ¥ 2,228,604 * The amount of assets under management of variable annuity and variable life insurance contracts included in equity securities were ¥324,220 million and ¥306,524 million as of March 31, 2019 and December 31, 2019, respectively. The amount of investment funds that are accounted for under the equity method included in equity securities were ¥75,923 million and ¥70,556 million as of March 31, 2019 and December 31, 2019, respectively. The amount of investment funds elected for the fair value option included in equity securities were ¥5,811 million and ¥5,997 million as of March 31, 2019 and December 31, 2019, respectively. Gains and losses realized from the sale of equity securities and net unrealized holding gains (losses) on equity securities are included in gains on investment securities and dividends, life insurance premiums and related investment income, and write-downs of securities. For further information, see Note 17 “Life Insurance Operations.” Net unrealized holding gains (losses) on equity securities held as of December 31, 2018 were losses of ¥4,944 million and ¥7,547 million, respectively, for the nine and three months ended December 31, 2018. Net unrealized holding gains (losses) on equity securities held as of December 31, 2019 were gains of ¥34,529 million and ¥22,522 million, respectively, for the nine and three months ended December 31, 2019, which did not include net unrealized holding gains (losses) on the both investment funds above mentioned. Equity securities include non-marketable Millions of yen March 31, 2019 Nine months ended December 31, 2018 Three months ended December 31, 2018 Carrying Accumulated Accumulated Impairments Upward Impairments Upward Equity securities measured using the measurement alternative ¥ 35,431 ¥ (1,688 ) ¥ 18 ¥ (151 ) ¥ 0 ¥ 0 ¥ 0 Millions of yen December 31, 2019 Nine months ended December 31, 2019 Three months ended December 31, 2019 Carrying Accumulated Accumulated Impairments Upward Impairments Upward Equity securities measured using the measurement alternative ¥ 37,137 ¥ (1,495 ) ¥ 61 ¥ (38 ) ¥ 43 ¥ 0 ¥ 5 Gains and losses realized from the sale of trading debt securities and net unrealized holding gains (losses) on trading debt securities are included in gains on investment securities and dividends. Net unrealized holding gains (losses) on trading debt securities held as of December 31, 2018 were gains of ¥102 million and ¥123 million, respectively, for the nine and three months ended December 31, 2018. Net unrealized holding gains (losses) on trading debt securities held as of December 31, 2019 were losses of ¥7 million and ¥74 million, respectively, for the nine and three months ended December 31, 2019. Certain subsidiaries elected the fair value option for certain investments in investment funds included in equity securities whose net asset values do not represent the fair value of investments due to the illiquid nature of these investments. The subsidiaries manage these investments on a fair value basis and the election of the fair value option enables the subsidiaries to reflect more appropriate assumptions to measure the fair value of these investments. As of March 31, 2019 and December 31, 2019, these investments were fair valued at ¥5,811 million and ¥5,997 million, respectively. A certain subsidiary elected the fair value option for investments in foreign government bond securities included in available-for-sale A certain subsidiary elected the fair value option for investments in foreign corporate debt securities included in available-for-sale The amortized cost basis amounts, gross unrealized holding gains, gross unrealized holding losses and fair values of available-for-sale held-to-maturity March 31, 2019 Millions of yen Amortized cost Gross unrealized gains Gross unrealized losses Fair value Available-for-sale Japanese and foreign government bond securities ¥ 416,218 ¥ 20,133 ¥ (5,500 ) ¥ 430,851 Japanese prefectural and foreign municipal bond securities 189,792 3,749 (236 ) 193,305 Corporate debt securities 485,156 5,205 (2,364 ) 487,997 CMBS and RMBS in the Americas 59,954 2,566 (1,041 ) 61,479 Other asset-backed securities and debt securities 88,620 3,381 (1,389 ) 90,612 1,239,740 35,034 (10,530 ) 1,264,244 Held-to-maturity Japanese government bond securities and other 114,061 30,265 0 144,326 ¥ 1,353,801 ¥ 65,299 ¥ (10,530 ) ¥ 1,408,570 December 31, 2019 Millions of yen Amortized cost Gross unrealized gains Gross unrealized losses Fair value Available-for-sale Japanese and foreign government bond securities ¥ 578,705 ¥ 21,685 ¥ (9,155 ) ¥ 591,235 Japanese prefectural and foreign municipal bond securities 234,273 4,639 (624 ) 238,288 Corporate debt securities 588,853 9,187 (3,285 ) 594,755 CMBS and RMBS in the Americas 56,764 2,538 (1,340 ) 57,962 Other asset-backed securities and debt securities 92,338 3,369 (1,598 ) 94,109 1,550,933 41,418 (16,002 ) 1,576,349 Held-to-maturity Japanese government bond securities and other 113,880 30,642 0 144,522 ¥ 1,664,813 ¥ 72,060 ¥ (16,002 ) ¥ 1,720,871 The following tables provide information about available-for-sale March 31, 2019 Millions of yen Less than 12 months 12 months or more Total Fair value Gross unrealized losses Fair value Gross unrealized losses Fair value Gross unrealized losses Available-for-sale Japanese and foreign government bond securities ¥ 51,551 ¥ (1,119 ) ¥ 98,830 ¥ (4,381 ) ¥ 150,381 ¥ (5,500 ) Japanese prefectural and foreign municipal bond securities 1,329 (35 ) 4,510 (201 ) 5,839 (236 ) Corporate debt securities 9,156 (18 ) 68,924 (2,346 ) 78,080 (2,364 ) CMBS and RMBS in the Americas 10,194 (362 ) 7,147 (679 ) 17,341 (1,041 ) Other asset-backed securities and debt securities 10,253 (411 ) 28,748 (978 ) 39,001 (1,389 ) ¥ 82,483 ¥ (1,945 ) ¥ 208,159 ¥ (8,585 ) ¥ 290,642 ¥ (10,530 ) December 31, 2019 Millions of yen Less than 12 months 12 months or more Total Fair value Gross unrealized losses Fair value Gross unrealized losses Fair value Gross unrealized losses Available-for-sale Japanese and foreign government bond securities ¥ 86,920 ¥ (2,228 ) ¥ 153,775 ¥ (6,927 ) ¥ 240,695 ¥ (9,155 ) Japanese prefectural and foreign municipal bond securities 71,088 (623 ) 220 (1 ) 71,308 (624 ) Corporate debt securities 152,919 (1,351 ) 23,731 (1,934 ) 176,650 (3,285 ) CMBS and RMBS in the Americas 8,700 (273 ) 8,715 (1,067 ) 17,415 (1,340 ) Other asset-backed securities and debt securities 13,573 (254 ) 26,723 (1,344 ) 40,296 (1,598 ) ¥ 333,200 ¥ (4,729 ) ¥ 213,164 ¥ (11,273 ) ¥ 546,364 ¥ (16,002 ) |
Transfer of Financial Assets
Transfer of Financial Assets | 9 Months Ended |
Dec. 31, 2019 | |
Transfers and Servicing [Abstract] | |
Transfer of Financial Assets | 9. Transfer of Financial Assets The Company and its subsidiaries have securitized and transferred financial assets such as installment loans (commercial mortgage loans, housing loans and other). In the securitization process, these financial assets are transferred to SPEs that issue beneficial interests of the securitization trusts and securities backed by the financial assets to investors. The cash flows collected from these assets transferred to the SPEs are then used to repay these asset-backed beneficial interests and securities. As the transferred assets are isolated from the Company and its subsidiaries, the investors and the SPEs have no recourse to other assets of the Company and its subsidiaries in cases where the debtors or the issuers of the transferred financial assets fail to perform under the original terms of those financial assets. The Company and its subsidiaries often have continuing involvement with transferred financial assets by retaining the servicing arrangements and the interests in the SPEs in the form of the beneficial interest of the securitization trusts. Those interests that continue to be held include interests in the transferred assets and are often subordinate to other tranche(s) of the securitization. Those beneficial interests that continue to be held by the Company and its subsidiaries are subject to credit risk, interest rate risk and prepayment risk on the securitized financial assets. With regards to these subordinated interests that the Company and its subsidiaries retain, they are subordinated to the senior investments and are exposed to different credit and prepayment risks, since they first absorb the risk of the decline in the cash flows from the financial assets transferred to the SPEs for defaults and prepayment of the transferred assets. If there is any excess cash remaining in the SPEs after payment to investors in the securitization of the contractual rate of returns, most of such excess cash is distributed to the Company and its subsidiaries for payments of the subordinated interests. SPEs used in securitization transactions have been consolidated if the Company and its subsidiaries are the primary beneficiary of the SPEs. When the Company and its subsidiaries have transferred financial assets to a transferee that is not subject to consolidation, the Company and its subsidiaries account for the transfer as a sale if control over the transferred assets is surrendered. For the nine months ended December 31, 2018 and 2019, the amount of installment loans that has been derecognized due to new securitization and transfer of loans were ¥370,946 million and ¥431,379 million, respectively. For the nine months ended December 31, 2018 and 2019, gains (losses) from the securitization and transfer of loans were ¥12,122 million and ¥13,378 million, respectively, which is included in finance revenues in the consolidated statements of income. For the three months ended December 31, 2018 and 2019, the amount of installment loans that has been derecognized due to new securitization and transfer of loans were ¥152,310 million and ¥154,890 million, respectively. For the three months ended December 31, 2018 and 2019, gains (losses) from the securitization and transfer of loans were ¥4,110 million and ¥3,675 million, respectively, which is included in finance revenues in the consolidated statements of income. A certain subsidiary originates and sells loans into the secondary market while retaining the obligation to service those loans. In addition, the subsidiary undertakes obligations to service loans originated by others. The servicing assets related to those servicing activities are included in other assets in the consolidated balance sheets and roll-forwards of the amount of the servicing assets for the nine and three months ended December 31, 2018 and 2019 are as follows: Millions of yen Nine months ended December 31, 2018 Nine months ended December 31, 2019 Three months ended December 31, 2018 Three months ended December 31, 2019 Beginning balance ¥ 28,756 ¥ 31,572 ¥ 31,068 ¥ 32,364 Increase mainly from loans sold with servicing retained 4,696 6,354 2,038 2,253 Decrease mainly from amortization (3,526 ) (3,764 ) (1,193 ) (1,339 ) Increase (Decrease) from the effects of changes in foreign exchange rates 1,270 (388 ) (717 ) 496 Ending balance ¥ 31,196 ¥ 33,774 ¥ 31,196 ¥ 33,774 The fair value of the servicing assets as of March 31, 2019 and December 31, 2019 are as follows: Millions of yen Beginning balance ¥ 35,681 ¥ 39,846 Ending balance ¥ 39,846 ¥ 42,028 |
Variable Interest Entities
Variable Interest Entities | 9 Months Ended |
Dec. 31, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Variable Interest Entities | 10. Variable Interest Entities The Company and its subsidiaries use SPEs in the ordinary course of business. These SPEs are not always controlled by voting rights, and there are cases where voting rights do not exist for these SPEs. The Company and its subsidiaries determine a variable interest entity (hereinafter, “VIE”) among those SPEs when (a) the total equity investment at risk is not sufficient to permit the entity to finance its activities without additional subordinated financial support provided by any parties, including the equity holders or (b) as a group, the holders of the equity investment at risk do not have (1) the ability to make decisions about an entity’s activities that most significantly impact the entity’s economic performance through voting rights or similar rights, (2) the obligation to absorb the expected losses of the entity or (3) the right to receive the expected residual returns of the entity. The Company and its subsidiaries perform a qualitative analysis to identify the primary beneficiary of VIEs. An enterprise that has both of the following characteristics is considered to be the primary beneficiary and therefore results in the consolidation of the VIE: • the power to direct the activities of a VIE that most significantly impact the entity’s economic performance; and • the obligation to absorb losses of the entity that could potentially be significant to the VIE or the right to receive benefits from the entity that could potentially be significant to the VIE. All facts and circumstances are taken into consideration when determining whether the Company and its subsidiaries have variable interests that would deem it the primary beneficiary and therefore require consolidation of the VIE. The Company and its subsidiaries make ongoing reassessment of whether they are the primary beneficiaries of a VIE. The following are the factors that the Company and its subsidiaries are considering in a qualitative assessment: • which activities most significantly impact the economic performance of the VIE and who has the power to direct such activities; • characteristics of the Company and its subsidiaries’ variable interest or interests and other involvements (including involvement of related parties and de facto agents); • involvement of other variable interest holders; and • the entity’s purpose and design, including the risks that the entity was designed to create and pass through to its variable interest holders. The Company and its subsidiaries generally consider the following types of involvement to be significant when determining the primary beneficiary: • designing the structuring of a transaction; • providing an equity investment and debt financing; • being the investment manager, asset manager or servicer and receiving variable fees; and • providing liquidity and other financial support. The Company and its subsidiaries do not have the power to direct activities of a VIE that most significantly impact the VIE’s economic performance if that power is shared among multiple unrelated parties, and accordingly do not consolidate such VIE. Information about VIEs (consolidated and non-consolidated) 1. Consolidated VIEs March 31, 2019 Millions of yen Types of VIEs Total assets *1 Total liabilities *1 Assets which are pledged as collateral *2 Commitments *3 (a) VIEs for liquidating customer assets ¥ 0 ¥ 0 ¥ 0 ¥ 0 (b) VIEs for acquisition of real estate and real estate development projects for customers 2,014 0 0 0 (c) VIEs for acquisition of real estate for the Company and its subsidiaries’ real estate-related business 94,404 31,208 49,587 0 (d) VIEs for corporate rehabilitation support business 564 30 0 0 (e) VIEs for investment in securities 72,347 121 42 0 (f) VIEs for securitizing financial assets such as finance lease receivable and loan receivable 228,859 175,115 228,859 0 (g) VIEs for securitization of loan receivable originated by third parties 2,264 2,729 2,264 0 (h) VIEs for power generation projects 282,739 195,915 242,937 54,533 (i) Other VIEs 149,333 45,082 120,312 0 Total ¥ 832,524 ¥ 450,200 ¥ 644,001 ¥ 54,533 December 31, 2019 Millions of yen Types of VIEs Total assets *1 Total liabilities *1 Assets which are pledged as collateral *2 Commitments *3 (a) VIEs for liquidating customer assets ¥ 0 ¥ 0 ¥ 0 ¥ 0 (b) VIEs for acquisition of real estate and real estate development projects for customers 2,485 1 0 0 (c) VIEs for acquisition of real estate for the Company and its subsidiaries’ real estate-related business 89,455 16,597 18,204 0 (d) VIEs for corporate rehabilitation support business 750 262 0 0 (e) VIEs for investment in securities 64,121 44 0 0 (f) VIEs for securitizing financial assets such as finance lease receivable and loan receivable 221,885 129,068 221,885 0 (g) VIEs for securitization of loan receivable originated by third parties 2,495 3,193 2,495 0 (h) VIEs for power generation projects 397,330 285,406 356,841 42,015 (i) Other VIEs 170,143 71,216 150,321 0 Total ¥ 948,664 ¥ 505,787 ¥ 749,746 ¥ 42,015 *1 The assets of most VIEs are used only to repay the liabilities of the VIEs, and the creditors of the liabilities of most VIEs have no recourse to other assets of the Company and its subsidiaries. *2 The assets are pledged as collateral by VIE for financing of the VIE. *3 This item represents remaining balance of commitments that could require the Company and its subsidiaries to provide investments or loans to the VIE. 2. Non-consolidated March 31, 2019 Millions of yen Carrying amount of the variable interests in the VIEs held by the Company and its subsidiaries Maximum exposure to loss * Types of VIEs Total assets Non-recourse Investments (a) VIEs for liquidating customer assets ¥ 8,524 ¥ 0 ¥ 991 ¥ 991 (b) VIEs for acquisition of real estate and real estate development projects for customers 34,872 0 3,426 3,426 (c) VIEs for acquisition of real estate for the Company and its subsidiaries’ real estate-related business 0 0 0 0 (d) VIEs for corporate rehabilitation support business 0 0 0 0 (e) VIEs for investment in securities 3,493,461 0 60,329 81,337 (f) VIEs for securitizing financial assets such as finance lease receivable and loan receivable 0 0 0 0 (g) VIEs for securitization of loan receivable originated by third parties 982,353 0 21,768 21,776 (h) VIEs for power generation projects 26,495 0 1,783 1,783 (i) Other VIEs 391,602 3,200 32,569 37,947 Total ¥ 4,937,307 ¥ 3,200 ¥ 120,866 ¥ 147,260 December 31, 2019 Millions of yen Carrying amount of the variable interests in the VIEs held by the Company and its subsidiaries Maximum exposure to loss * Types of VIEs Total assets Non-recourse Investments (a) VIEs for liquidating customer assets ¥ 8,452 ¥ 0 ¥ 991 ¥ 991 (b) VIEs for acquisition of real estate and real estate development projects for customers 36,619 0 2,527 2,527 (c) VIEs for acquisition of real estate for the Company and its subsidiaries’ real estate-related business 0 0 0 0 (d) VIEs for corporate rehabilitation support business 0 0 0 0 (e) VIEs for investment in securities 3,723,534 0 56,979 74,001 (f) VIEs for securitizing financial assets such as finance lease receivable and loan receivable 0 0 0 0 (g) VIEs for securitization of loan receivable originated by third parties 1,128,788 0 17,227 17,233 (h) VIEs for power generation projects 25,264 0 1,709 1,709 (i) Other VIEs 195,637 2,929 11,449 14,495 Total ¥ 5,118,294 ¥ 2,929 ¥ 90,882 ¥ 110,956 * Maximum exposure to loss includes remaining balance of commitments that could require the Company and its subsidiaries to provide investments or loans to the VIE. (a) VIEs for liquidating customer assets The Company and its subsidiaries may use VIEs in structuring financing for customers to liquidate specific customer assets. The VIEs are typically used to provide a structure that is bankruptcy remote with respect to the customer and the use of VIE structure is requested by such customer. Such VIEs typically acquire assets to be liquidated from the customer, borrow non-recourse Variable interests of non-consolidated (b) VIEs for acquisition of real estate and real estate development projects for customers Customers and the Company and its subsidiaries are involved with VIEs formed to acquire real estate and/or develop real estate projects. In each case, a customer establishes and makes an equity investment in a VIE that is designed to be bankruptcy remote from the customer. The VIEs acquire real estate and/or develop real estate projects. The Company and its subsidiaries provide non-recourse In the Company’s consolidated balance sheets, assets of consolidated VIEs are mainly included in cash and cash equivalents and investment in affiliates. Variable interests of non-consolidated (c) VIEs for acquisition of real estate for the Company and its subsidiaries’ real estate-related business The Company and its subsidiaries establish VIEs and acquire real estate to borrow non-recourse The Company and its subsidiaries consolidate such VIEs even though the Company and its subsidiaries may not have voting rights if substantially all of such VIEs’ subordinated interests are issued to the Company and its subsidiaries, and therefore the VIEs are controlled by and for the benefit of the Company and its subsidiaries. In the Company’s consolidated balance sheets, assets of the consolidated VIEs are mainly included in cash and cash equivalents, restricted cash, investment in operating leases, investment in securities, property under facility operations and other assets, and liabilities of those consolidated VIEs are mainly included in long-term debt and other liabilities. (d) VIEs for corporate rehabilitation support business Financial institutions, the Company and its subsidiaries are involved with VIEs established for the corporate rehabilitation support business. VIEs receive the funds from investors including the financial institutions, the Company and the subsidiary, and purchase loan receivables due from borrowers which have financial problems, but are deemed to have the potential to recover in the future. The servicing operations for the VIEs are conducted by the subsidiary. The Company and its subsidiaries consolidated such VIEs since the Company and its subsidiaries have the majority of the investment share of such VIEs, and have the power to direct the activities of the VIEs that most significantly impact the entities’ economic performance through the servicing operations. In the Company’s consolidated balance sheets, assets of the consolidated VIEs are mainly included in installment loans, and liabilities of those consolidated VIEs are mainly included in other liabilities. (e) VIEs for investment in securities The Company and its subsidiaries have interests in VIEs that are investment funds and mainly invest in equity and debt securities. Such VIEs are managed by certain subsidiaries or fund management companies that are independent of the Company and its subsidiaries. Certain subsidiaries consolidated certain such VIEs since the subsidiaries has the majority of the investment share of them, and has the power to direct the activities of those VIEs that most significantly impact the entities’ economic performance through involvement with the design of the VIEs or other means. In the Company’s consolidated balance sheets, assets of the consolidated VIEs are mainly included in investment in securities and investment in affiliates, and liabilities of those consolidated VIEs are mainly included in other liabilities. Variable interests of non-consolidated non-consolidated (f) VIEs for securitizing financial assets such as finance lease receivable and loan receivable The Company and its subsidiaries use VIEs to securitize financial assets such as finance lease receivables and loans receivables. In the securitization process, these financial assets are transferred to SPEs, and the SPEs issue beneficial interests or securities backed by the transferred financial assets to investors. After the securitization, the Company and its subsidiaries continue to hold a subordinated part of the securities and act as a servicer. The Company and its subsidiaries consolidated such VIEs since the Company and its subsidiaries have the power to direct the activities that most significantly impact the entity’s economic performance by designing the securitization scheme and conducting servicing activities, and have a responsibility to absorb losses of the VIEs that could potentially be significant to the entities by retaining the subordinated part of the securities. In the Company’s consolidated balance sheets, assets of the consolidated VIEs are mainly included in restricted cash, net investment in leases and installment loans, and liabilities of those consolidated VIEs are mainly included in long-term debt. (g) VIEs for securitization of loan receivable originated by third parties The Company and its subsidiaries invest in CMBS, RMBS and other asset-backed securities originated by third parties. In some cases of such securitization, certain subsidiaries hold the subordinated portion and the subsidiaries act as a special-servicer of the securitization transaction. As the special servicer, the subsidiaries have rights to dispose of real estate collateral related to the securitized commercial mortgage loans. The subsidiaries consolidate certain of these VIEs when the subsidiaries have the power to direct the activities of the VIEs that most significantly impact the entities’ economic performance through its role as special-servicer, including the right to dispose of the collateral, and have a responsibility to absorb losses of the VIEs that could potentially be significant to the entities by holding the subordinated part of the securities. In the Company’s consolidated balance sheets, assets of the consolidated VIEs are mainly included in installment loans, and liabilities of those consolidated VIEs are mainly included in long-term debt. Variable interests of non-consolidated non-consolidated (h) VIEs for power generation projects The Company and its subsidiaries may use VIEs in power generation projects. VIEs receive the funds from the Company and its subsidiaries, construct solar power stations, thermal power stations and wind power stations on acquired or leased lands, and sell the generated power to electric power companies. The Company and its subsidiaries have consolidated certain VIEs because the Company and its subsidiaries have the majority of the investment shares of such VIEs and effectively control the VIEs by acting as the asset manager of the VIEs. In the Company’s consolidated balance sheets, assets of the consolidated VIEs are mainly included in cash and cash equivalents, restricted cash, property under facility operations and other assets, and liabilities of those consolidated VIEs are mainly included in trade notes, accounts and other payable, long-term debt, and other liabilities. The Company and certain subsidiaries have commitment agreements by which the Company and the subsidiaries may be required to make additional investment or execute loans in certain such consolidated VIEs. Variable interests of non-consolidated (i) Other VIEs The Company and its subsidiaries are involved with other types of VIEs for various purposes. Consolidated and non-consolidated In Japan, certain subsidiaries provide investment products to their customers that employ a contractual mechanism known as a kumiai, which in part result in the subsidiaries forming a type of SPE. As a means to finance the purchase of aircraft or other large-ticket items to be leased to third parties, the Company and its subsidiaries arrange and market kumiai products to investors, who invest a portion of the funds necessary into the kumiai structure. The remainder of the purchase funds is borrowed by the kumiai structure in the form of a non-recourse The Company may use VIEs for financing. The Company transfers its own held assets to SPEs, which borrow non-recourse In the Company’s consolidated balance sheets, assets of the consolidated VIEs are mainly included in investment in operating leases, investment in affiliates, office facilities and other assets, and liabilities of those consolidated VIEs are mainly included in long-term debt and other liabilities. Variable interests in non-consolidated non-recourse non-consolidated |
Investment in Affiliates
Investment in Affiliates | 9 Months Ended |
Dec. 31, 2019 | |
Investments in and Advances to Affiliates [Abstract] | |
Investment in Affiliates | 11. Investment in Affiliates Investment in affiliates at March 31, 2019 and December 31, 2019 consists of the following: Millions of yen March 31, 2019 December 31, 2019 Shares ¥ 789,638 ¥ 770,274 Loans and others 53,122 51,709 ¥ 842,760 ¥ 821,983 |
Redeemable Noncontrolling Inter
Redeemable Noncontrolling Interests | 9 Months Ended |
Dec. 31, 2019 | |
Noncontrolling Interest [Abstract] | |
Redeemable Noncontrolling Interests | 12. Redeemable Noncontrolling Interests Changes in redeemable noncontrolling interests for the nine months ended December 31, 2018 and 2019 are as follows: Millions of yen Nine months ended December 31, 2018 Nine months ended December 31, 2019 Beginning balance ¥ 7,420 ¥ 9,780 Comprehensive income Net income 434 359 Other comprehensive income (loss) Net change of foreign currency translation adjustments 326 (130 ) Total other comprehensive income (loss) 326 (130 ) Comprehensive income 760 229 Dividends (501 ) (289 ) Ending balance ¥ 7,679 ¥ 9,720 |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income (Loss) | 9 Months Ended |
Dec. 31, 2019 | |
Equity [Abstract] | |
Accumulated Other Comprehensive Income (Loss) | 13. Accumulated Other Comprehensive Income (Loss) Changes in each component of accumulated other comprehensive income (loss) attributable to ORIX Corporation Shareholders for the nine months ended December 31, 2018 and 2019, are as follows: Nine months ended December 31, 2018 Millions of yen Net unrealized gains (losses) on investment in securities Debt Defined benefit pension plans Foreign currency translation adjustments Net unrealized gains (losses) on derivative instruments Accumulated other comprehensive income (loss) Balance at March 31, 2018 ¥ 10,465 ¥ 0 ¥ (20,487 ) ¥ (31,806 ) ¥ (3,738 ) ¥ (45,566 ) Cumulative effect of adopting Accounting Standards Update 2016-01 (3,250 ) 351 0 0 0 (2,899 ) Balance at April 1, 2018 7,215 351 (20,487 ) (31,806 ) (3,738 ) (48,465 ) Net unrealized gains (losses) on investment in securities, net of tax of ¥(256) million 497 497 Reclassification adjustment included in net income, net of tax of ¥731 million (2,332 ) (2,332 ) Debt valuation adjustments, net of tax of ¥(127) million 322 322 Reclassification adjustment included in net income, net of tax of ¥8 million (19 ) (19 ) Defined benefit pension plans, net of tax of ¥(71) million 85 85 Reclassification adjustment included in net income, net of tax of ¥32 million (80 ) (80 ) Foreign currency translation adjustments, net of tax of ¥155 million (5,130 ) (5,130 ) Reclassification adjustment included in net income, net of tax of ¥(1) million 1 1 Net unrealized gains (losses) on derivative instruments, net of tax of ¥174 million (526 ) (526 ) Reclassification adjustment included in net income, net of tax of ¥(132) million 462 462 Total other comprehensive income (loss) (1,835 ) 303 5 (5,129 ) (64 ) (6,720 ) Transaction with noncontrolling interests 0 0 (52 ) 12 0 (40 ) Less: Other Comprehensive Income (Loss) Attributable to the Noncontrolling Interests 0 0 1 (102 ) 13 (88 ) Less: Other Comprehensive Income Attributable to the Redeemable Noncontrolling Interests 0 0 0 326 0 326 Balance at December 31, 2018 ¥ 5,380 ¥ 654 ¥ (20,535 ) ¥ (37,147 ) ¥ (3,815 ) ¥ (55,463 ) Nine months ended December 31, 2019 Millions of yen Net unrealized gains (losses) in securities Debt Defined pension plans Foreign currency translation adjustments Net unrealized gains (losses) instruments Accumulated other comprehensive income (loss) Balance at March 31, 2019 ¥ 17,389 ¥ 582 ¥ (27,902 ) ¥ (43,558 ) ¥ (7,854 ) ¥ (61,343 ) Net unrealized gains (losses) on investment in securities, net of tax of ¥(2,053) million 5,472 5,472 Reclassification adjustment included in net income, net of tax of ¥1,700 million (4,195 ) (4,195 ) Debt valuation adjustments, net of tax of ¥(65) million 168 168 Reclassification adjustment included in net income, net of tax of ¥12 million (32 ) (32 ) Defined benefit pension plans, net of tax of ¥(32) million 129 129 Reclassification adjustment included in net income, net of tax of ¥(142) million 363 363 Foreign currency translation adjustments, net of tax of ¥(823) million (18,801 ) (18,801 ) Reclassification adjustment included in net income, net of tax of ¥(1,058) million 2,216 2,216 Net unrealized gains (losses) on derivative instruments, net of tax of ¥996 million (4,444 ) (4,444 ) Reclassification adjustment included in net income, net of tax of ¥(323) million 884 884 Total other comprehensive income (loss) 1,277 136 492 (16,585 ) (3,560 ) (18,240 ) Less: Other Comprehensive Income (Loss) Attributable to the Noncontrolling Interests (6 ) 0 (1 ) (1,541 ) 1 (1,547 ) Less: Other Comprehensive Income (Loss) Attributable to the Redeemable Noncontrolling Interests 0 0 0 (130 ) 0 (130 ) Balance at December 31, 2019 ¥ 18,672 ¥ 718 ¥ (27,409 ) ¥ (58,472 ) ¥ (11,415 ) ¥ (77,906 ) Changes in each component of accumulated other comprehensive income (loss) attributable to ORIX Corporation Shareholders for the three months ended December 31, 2018 and 2019, are as follows: Three months ended December 31, 2018 Millions of yen Net unrealized gains (losses) in securities Debt Defined pension plans Foreign currency translation adjustments Net unrealized gains (losses) instruments Accumulated other comprehensive income (loss) Balance at September 30, 2018 ¥ 5,609 ¥ 270 ¥ (20,688 ) ¥ (17,802 ) ¥ (3,085 ) ¥ (35,696 ) Net unrealized gains (losses) on investment in securities, net of tax of ¥(114) million (391 ) (391 ) Reclassification adjustment included in net income, net of tax of ¥(118) million 162 162 Debt valuation adjustments, net of tax of ¥(153) million 391 391 Reclassification adjustment included in net income, net of tax of ¥3 million (7 ) (7 ) Defined benefit pension plans, net of tax of ¥(94) million 232 232 Reclassification adjustment included in net income, net of tax of ¥11 million (26 ) (26 ) Foreign currency translation adjustments, net of tax of ¥(8,709) million (19,918 ) (19,918 ) Reclassification adjustment included in net income, net of tax of ¥0 million 0 0 Net unrealized gains (losses) on derivative instruments, net of tax of ¥212 million (487 ) (487 ) Reclassification adjustment included in net income, net of tax of ¥86 million (267 ) (267 ) Total other comprehensive income (loss) (229 ) 384 206 (19,918 ) (754 ) (20,311 ) Transaction with noncontrolling interests 0 0 (50 ) 11 0 (39 ) Less: Other Comprehensive Income (Loss) Attributable to the Noncontrolling Interests 0 0 3 (386 ) (24 ) (407 ) Less: Other Comprehensive Income (Loss) Attributable to the Redeemable Noncontrolling Interests 0 0 0 (176 ) 0 (176 ) Balance at December 31, 2018 ¥ 5,380 ¥ 654 ¥ (20,535 ) ¥ (37,147 ) ¥ (3,815 ) ¥ (55,463 ) Three months ended December 31, 2019 Millions of yen Net unrealized in securities Debt Defined pension plans Foreign currency translation adjustments Net unrealized gains (losses) instruments Accumulated other comprehensive income (loss) Balance at September 30, 2019 ¥ 22,300 ¥ 786 ¥ (27,116 ) ¥ (79,587 ) ¥ (13,511 ) ¥ (97,128 ) Net unrealized gains (losses) on investment in securities, net of tax of ¥1,116 million (2,838 ) (2,838 ) Reclassification adjustment included in net income, net of tax of ¥313 million (789 ) (789 ) Debt valuation adjustments, net of tax of ¥21 million (54 ) (54 ) Reclassification adjustment included in net income, net of tax of ¥5 million (14 ) (14 ) Defined benefit pension plans, net of tax of ¥151 million (406 ) (406 ) Reclassification adjustment included in net income, net of tax of ¥(40) million 112 112 Foreign currency translation adjustments, net of tax of ¥6,858 million 20,802 20,802 Reclassification adjustment included in net income, net of tax of ¥(348) million 658 658 Net unrealized gains (losses) on derivative instruments, net of tax of ¥(584) million 1,877 1,877 Reclassification adjustment included in net income, net of tax of ¥(109) million 291 291 Total other comprehensive income (loss) (3,627 ) (68 ) (294 ) 21,460 2,168 19,639 Less: Other Comprehensive Income (Loss) Attributable to the Noncontrolling Interests 1 0 (1 ) 200 72 272 Less: Other Comprehensive Income Attributable to the Redeemable Noncontrolling Interests 0 0 0 145 0 145 Balance at December 31, 2019 ¥ 18,672 ¥ 718 ¥ (27,409 ) ¥ (58,472 ) ¥ (11,415 ) ¥ (77,906 ) Amounts reclassified to net income from accumulated other comprehensive income (loss) in the nine months ended December 31, 2018 and 2019 are as follows: Nine months ended December 31, 2018 Details about accumulated other comprehensive income components Reclassification net income Millions of yen Consolidated statements of income caption Net unrealized gains (losses) on investment in securities Sales of debt securities ¥ 3,211 Gains on investment securities and dividends Sales of debt securities 1,545 Life insurance premiums and related investment income Amortization of debt securities (895 ) Finance revenues Amortization of debt securities (128 ) Life insurance premiums and related investment income Others (670 ) Write-downs of securities and other 3,063 Total before income tax (731 ) Income tax (expense) or benefit ¥ 2,332 Net of tax Debt valuation adjustments Fulfillment of policy liabilities and amortization of policy account balances ¥ 27 Life insurance costs 27 Total before income tax (8 ) Income tax (expense) or benefit ¥ 19 Net of tax Defined benefit pension plans Amortization of prior service credit ¥ 807 See Note 16 “Pension Plans” Amortization of net actuarial loss (692 ) See Note 16 “Pension Plans” Amortization of transition obligation (3 ) See Note 16 “Pension Plans” 112 Total before income tax (32 ) Income tax (expense) or benefit ¥ 80 Net of tax Foreign currency translation adjustments Sales or liquidation ¥ (2 ) Gains on sales of subsidiaries and affiliates and liquidation losses, net (2 ) Total before income tax 1 Income tax (expense) or benefit ¥ (1 ) Net of tax Net unrealized gains (losses) on derivative instruments Interest rate swap agreements ¥ 141 Finance revenues/Interest expense Foreign exchange contracts (220 ) Other (income) and expense, net Foreign currency swap agreements (515 ) Finance revenues/Interest expense/Other (income) and expense, net (594 ) Total before income tax 132 Income tax (expense) or benefit ¥ (462 ) Net of tax Nine months ended December 31, 2019 Details about accumulated other comprehensive income components Reclassification Consolidated statements of income caption Millions of yen Net unrealized gains (losses) on investment in securities Sales of debt securities ¥ 2,159 Gains on investment securities and dividends Sales of debt securities 5,133 Life insurance premiums and related investment income Amortization of debt securities (784 ) Finance revenues Amortization of debt securities (613 ) Life insurance premiums and related investment income 5,895 Total before income tax (1,700 ) Income tax (expense) or benefit ¥ 4,195 Net of tax Debt valuation adjustments Fulfillment of policy liabilities and amortization of policy account balances ¥ 44 Life insurance costs 44 Total before income tax (12 ) Income tax (expense) or benefit ¥ 32 Net of tax Defined benefit pension plans Amortization of prior service credit ¥ 730 See Note 16 “Pension Plans” Amortization of net actuarial loss (1,233 ) See Note 16 “Pension Plans” Amortization of transition obligation (2 ) See Note 16 “Pension Plans” (505 ) Total before income tax 142 Income tax (expense) or benefit ¥ (363 ) Net of tax Foreign currency translation adjustments Foreign exchange contracts ¥ (1,875 ) Gains on sales of subsidiaries and affiliates and liquidation losses, net/Interest expense/Other (income) and expense, net Sales or liquidation (1,399 ) Gains on sales of subsidiaries and affiliates and liquidation losses, net (3,274 ) Total before income tax 1,058 Income tax (expense) or benefit ¥ (2,216 ) Net of tax Net unrealized gains (losses) on derivative instruments Interest rate swap agreements ¥ (584 ) Interest expense Foreign exchange contracts (255 ) Interest expense Foreign currency swap agreements (368 ) Interest expense/Other (income) and expense, net (1,207 ) Total before income tax 323 Income tax (expense) or benefit ¥ (884 ) Net of tax Amounts reclassified to net income from accumulated other comprehensive income (loss) in the three months ended December 31, 2018 and 2019 are as follows: Three months ended December 31, 2018 Details about accumulated other comprehensive income components Reclassification net income Consolidated statements of income caption Millions of yen Net unrealized gains (losses) on investment in securities Sales of debt securities ¥ 88 Gains on investment securities and dividends Sales of debt securities 0 Life insurance premiums and related investment income Amortization of debt securities (241 ) Finance revenues Amortization of debt securities (14 ) Life insurance premiums and related investment income Others (113 ) Write-downs of securities and other (280 ) Total before income tax 118 Income tax (expense) or benefit ¥ (162 ) Net of tax Debt valuation adjustments Fulfillment of policy liabilities and amortization of policy account balances ¥ 10 Life insurance costs 10 Total before income tax (3 ) Income tax (expense) or benefit ¥ 7 Net of tax Defined benefit pension plans Amortization of prior service credit ¥ 269 See Note 16 “Pension Plans” Amortization of net actuarial loss (231 ) See Note 16 “Pension Plans” Amortization of transition obligation (1 ) See Note 16 “Pension Plans” 37 Total before income tax (11 ) Income tax (expense) or benefit ¥ 26 Net of tax Net unrealized gains (losses) on derivative instruments Interest rate swap agreements ¥ 4 Finance revenues/Interest expense Foreign exchange contracts (230 ) Other (income) and expense, net Foreign currency swap agreements 579 Finance revenues/Interest expense/Other (income) and expense, net 353 Total before income tax (86 ) Income tax (expense) or benefit ¥ 267 Net of tax Three months ended December 31, 2019 Details about accumulated other comprehensive income components Reclassification adjustment included in net income Consolidated statements of income caption Millions of yen Net unrealized gains (losses) on investment in securities Sales of debt securities ¥ 245 Gains on investment securities and dividends Sales of debt securities 1,578 Life insurance premiums and related investment income Amortization of debt securities (405 ) Finance revenues Amortization of debt securities (316 ) Life insurance premiums and related investment income 1,102 Total before income tax (313 ) Income tax (expense) or benefit ¥ 789 Net of tax Debt valuation adjustments Fulfillment of policy liabilities and amortization of policy account balances ¥ 19 Life insurance costs 19 Total before income tax (5 ) Income tax (expense) or benefit ¥ 14 Net of tax Defined benefit pension plans Amortization of prior service credit ¥ 249 See Note 16 “Pension Plans” Amortization of net actuarial loss (401 ) See Note 16 “Pension Plans” Amortization of transition obligation (0 ) See Note 16 “Pension Plans” (152 ) Total before income tax 40 Income tax (expense) or benefit ¥ (112 ) Net of tax Foreign currency translation adjustments Foreign exchange contracts ¥ 393 Gains on sales of subsidiaries and affiliates and liquidation losses, net/Interest expense/Other (income) and expense, net Sales or liquidation (1,399 ) Gains on sales of subsidiaries and affiliates and liquidation losses, net (1,006 ) Total before income tax 348 Income tax (expense) or benefit ¥ (658 ) Net of tax Net unrealized gains (losses) on derivative instruments Interest rate swap agreements ¥ (218 ) Interest expense/Other (income) and expense, net Foreign exchange contracts (107 ) Interest expense Foreign currency swap agreements (75 ) Interest expense/Other (income) and expense, net (400 ) Total before income tax 109 Income tax (expense) or benefit ¥ (291 ) Net of tax |
ORIX Corporation Shareholders'
ORIX Corporation Shareholders' Equity | 9 Months Ended |
Dec. 31, 2019 | |
Stockholders' Equity Note [Abstract] | |
ORIX Corporation Shareholders' Equity | 14. ORIX Corporation Shareholders’ Equity Information about ORIX Corporation Shareholders’ Equity for the nine months ended December 31, 2018 and 2019 are as follows: (1) Dividend payments Nine months ended December 31, 2018 Nine months ended December 31, 2019 Resolution The board of directors on May 21, 2018 The board of directors on May 22, 2019 Type of shares Common stock Common stock Total dividends paid ¥49,984 million ¥58,962 million Dividend per share ¥39.00 ¥46.00 Date of record for dividend March 31, 2018 March 31, 2019 Effective date for dividend June 5, 2018 June 3, 2019 Dividend resource Retained earnings Retained earnings Resolution The board of directors on October 26, 2018 The board of directors on October 28, 2019 Type of shares Common stock Common stock Total dividends paid ¥38,453 million ¥44,862 million Dividend per share ¥30.00 ¥35.00 Date of record for dividend September 30, 2018 September 30, 2019 Effective date for dividend December 4, 2018 December 3, 2019 Dividend resource Retained earnings Retained earnings Total dividends paid by resolution of the board of directors on May 21, 2018 include ¥64 million of dividends paid to the Board Incentive Plan Trust for the nine months ended December 31, 2018. Total dividends paid by resolution of the board of directors on May 22, 2019 include ¥83 million of dividends paid to the Board Incentive Plan Trust for the nine months ended December 31, 2019. Total dividends paid by resolution of the board of directors on October 26, 2018 include ¥55 million of dividends paid to the Board Incentive Plan Trust for the nine months ended December 31, 2018. Total dividends paid by resolution of the board of directors on October 28, 2019 include ¥62 million of dividends paid to the Board Incentive Plan Trust for the nine months ended December 31, 2019. (2) There were no applicable dividends for which the date of record was in the nine months ended December 31, 2018 and 2019, and for which the effective date was after December 31, 2018 and 2019. |
Selling, General and Administra
Selling, General and Administrative Expenses | 9 Months Ended |
Dec. 31, 2019 | |
Text Block [Abstract] | |
Selling, General and Administrative Expenses | 15. Selling, General and Administrative Expenses Selling, general and administrative expenses for the nine months ended December 31, 2018 and 2019 are as follows: Millions of yen Nine months ended December 31, 2018 Nine months ended December 31, 2019 Personnel expenses ¥ 183,872 ¥ 192,526 Selling expenses 56,892 53,759 Administrative expenses 75,783 86,033 Depreciation of office facilities 3,537 5,436 Total ¥ 320,084 ¥ 337,754 Selling, general and administrative expenses for the three months ended December 31, 2018 and 2019 are as follows: Millions of yen Three months ended December 31, 2018 Three months ended December 31, 2019 Personnel expenses ¥ 61,434 ¥ 66,736 Selling expenses 20,009 18,578 Administrative expenses 26,674 29,361 Depreciation of office facilities 1,321 1,888 Total ¥ 109,438 ¥ 116,563 |
Pension Plans
Pension Plans | 9 Months Ended |
Dec. 31, 2019 | |
Retirement Benefits [Abstract] | |
Pension Plans | 16. Pension Plans The Company and certain subsidiaries have contributory and non-contributory lump-sum The Company and its subsidiaries’ funding policy is to contribute annually the amounts actuarially determined. Assets of the plans are invested primarily in debt securities and marketable equity securities. Net periodic pension cost for the nine months ended December 31, 2018 and 2019 consists of the following: Millions of yen Nine months ended December 31, 2018 Nine months ended December 31, 2019 Japanese plans: Service cost ¥ 4,144 ¥ 4,384 Interest cost 542 438 Expected return on plan assets (2,042 ) (2,083 ) Amortization of prior service credit (673 ) (615 ) Amortization of net actuarial loss 633 865 Amortization of transition obligation 0 0 Net periodic pension cost ¥ 2,604 ¥ 2,989 Millions of yen Nine months ended December 31, 2018 Nine months ended December 31, 2019 Overseas plans: Service cost ¥ 2,433 ¥ 2,649 Interest cost 1,484 1,275 Expected return on plan assets (3,292 ) (3,242 ) Amortization of prior service credit (134 ) (115 ) Amortization of net actuarial loss 59 368 Amortization of transition obligation 3 2 Net periodic pension cost ¥ 553 ¥ 937 Note: The components of net periodic pension cost other than the service cost component are included in personnel expenses, which is included in selling, general and administrative expenses in the consolidated statements of income. Net pension cost of the plans for the three months ended December 31, 2018 and 2019 consists of the following: Millions of yen Three months ended December 31, 2018 Three months ended December 31, 2019 Japanese plans: Service cost ¥ 1,382 ¥ 1,507 Interest cost 181 151 Expected return on plan assets (680 ) (713 ) Amortization of prior service credit (225 ) (210 ) Amortization of net actuarial loss 211 288 Amortization of transition obligation 0 0 Net periodic pension cost ¥ 869 ¥ 1,023 Millions of yen Three months ended December 31, 2018 Three months ended December 31, 2019 Overseas plans: Service cost ¥ 802 ¥ 883 Interest cost 491 426 Expected return on plan assets (1,090 ) (1,101 ) Amortization of prior service credit (44 ) (39 ) Amortization of net actuarial loss 20 113 Amortization of transition obligation 1 0 Net periodic pension cost ¥ 180 ¥ 282 Note: The components of net periodic pension cost other than the service cost component are included in personnel expenses, which is included in selling, general and administrative expenses in the consolidated statements of income. |
Life Insurance Operations
Life Insurance Operations | 9 Months Ended |
Dec. 31, 2019 | |
Insurance [Abstract] | |
Life Insurance Operations | 17. Life Insurance Operations Life insurance premiums and related investment income for the nine and three months ended December 31, 2018 and 2019 consist of the following: Millions of yen Nine months ended December 31, 2018 Nine months ended December 31, 2019 Life insurance premiums ¥ 233,134 ¥ 254,683 Life insurance related investment income (loss) * (5,114 ) 35,973 ¥ 228,020 ¥ 290,656 * Life insurance related investment income for the nine months ended December 31, 2018 and 2019 include a net unrealized holding loss of ¥23,189 million and a net unrealized holding gain of ¥24,609 million on equity securities held as of December 31, 2018 and 2019, respectively. Millions of yen Three months ended December 31, 2018 Three months ended December 31, 2019 Life insurance premiums ¥ 79,623 ¥ 87,421 Life insurance related investment income (loss) * (32,207 ) 20,767 ¥ 47,416 ¥ 108,188 * Life insurance related investment income for the three months ended December 31, 2018 and 2019 include a net unrealized holding loss of ¥43,010 million and a net unrealized holding gain of ¥18,043 million on equity securities held as of December 31, 2018 and 2019, respectively. Life insurance premiums include reinsurance benefits, net of reinsurance premiums. For the nine and three months ended December 31, 2018 and 2019, reinsurance benefits and reinsurance premiums included in life insurance premiums are as follows: Millions of yen Nine months ended December 31, 2018 Nine months ended December 31, 2019 Reinsurance benefits ¥ 1,891 ¥ 1,949 Reinsurance premiums (4,142 ) (3,933 ) Millions of yen Three months ended December 31, 2018 Three months ended December 31, 2019 Reinsurance benefits ¥ 698 ¥ 774 Reinsurance premiums (1,293 ) (1,282 ) The benefits and expenses of life insurance operations included in life insurance costs in the consolidated statements of income are recognized so as to associate with earned premiums over the life of contracts. This association is accomplished by means of the provision for future policy benefits and the deferral and subsequent amortization of policy acquisition costs (principally commissions and certain other expenses directly relating to policy issuance and underwriting). Amortization charged to income for the nine months ended December 31, 2018 and 2019 was ¥13,238 million and ¥13,839 million, respectively. In addition, amortization charged to income for the three months ended December 31, 2018 and 2019 was ¥4,580 million and ¥4,707 million, respectively. Life insurance premiums and related investment income include net realized and unrealized gains or losses from investment assets under management on behalf of variable annuity and variable life policyholders, and net gains or losses from derivative contracts, which consist of gains or losses from futures, foreign exchange contracts and options held, entered to economically hedge a portion of the minimum guarantee risk relating to variable annuity and variable life insurance contracts. In addition, life insurance costs include the net amount of the changes in fair value of the variable annuity and variable life insurance contracts elected for the fair value option and insurance costs recognized for insurance and annuity payouts as a result of insured events. Certain subsidiaries have elected the fair value option for certain reinsurance contracts to partially offset the changes in fair value recognized in earnings of the policy liabilities and policy account balances attributable to the changes in the minimum guarantee risks of the variable annuity and variable life insurance contracts, and the changes in the fair value of the reinsurance contracts were recorded in life insurance costs. The portion of the total change in the fair value of variable annuity and variable life insurance contracts that results from a change in the instrument-specific credit risk is recognized in other comprehensive income (loss), net of applicable income taxes. The above mentioned gains or losses relating to variable annuity and variable life insurance contracts for the nine and three months ended December 31, 2018 and 2019 are as follows: Millions of yen Nine months ended December 31, 2018 Nine months ended December 31, 2019 Life insurance premiums and related investment income: Net realized and unrealized gains or losses from investment assets ¥ (21,790 ) ¥ 25,962 Net gains or losses from derivative contracts: 2,496 (3,477 ) Futures 2,730 (3,292 ) Foreign exchange contracts (316 ) (5 ) Options held 82 (180 ) Life insurance costs: Changes in the fair value of the policy liabilities and policy account balances ¥ (81,515 ) ¥ (26,992 ) Insurance costs recognized for insurance and annuity payouts as a result of insured events 62,522 39,418 Changes in the fair value of the reinsurance contracts (2,794 ) 3,230 Millions of yen Three months ended December 31, 2018 Three months ended December 31, 2019 Life insurance premiums and related investment income: Net realized and unrealized gains or losses from investment assets ¥ (43,844 ) ¥ 18,661 Net gains or losses from derivative contracts: 5,956 (2,653 ) Futures 5,051 (2,284 ) Foreign exchange contracts 219 (284 ) Options held 686 (85 ) Life insurance costs: Changes in the fair value of the policy liabilities and policy account balances ¥ (43,098 ) ¥ (3,917 ) Insurance costs recognized for insurance and annuity payouts as a result of insured events 14,851 14,304 Changes in the fair value of the reinsurance contracts (6,681 ) 2,163 |
Write-Downs of Long-Lived Asset
Write-Downs of Long-Lived Assets | 9 Months Ended |
Dec. 31, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Write-Downs of Long-Lived Assets | 18. Write-Downs of Long-Lived Assets The Company and its subsidiaries perform tests for recoverability on long-lived assets classified as held and used for which events or changes in circumstances indicated that the assets might be impaired. The Company and its subsidiaries consider an asset’s carrying amount as not recoverable when such carrying amount exceeds the undiscounted future cash flows estimated to result from the use and eventual disposition of the asset. The net carrying amount of assets not recoverable is reduced to fair value if lower than the carrying amount. As of March 31, 2019 and December 31, 2019, the long-lived assets and liabilities associated with those assets classified as held for sale in the accompanying consolidated balance sheets are as follows. Millions of yen As of March 31, 2019 As of December 31, 2019 Investment in operating leases ¥ 24,956 ¥ 37,875 Property under facility operations 44,473 0 Other assets 19 812 The long-lived assets classified as held for sale as of March 31, 2019 are included in Corporate Financial Services segment, Real Estate segment, Investment and Operation segment and Overseas Business segment. The long-lived assets classified as held for sale as of December 31, 2019 are included in Corporate Financial Services segment, Real Estate segment and Overseas Business segment. The Company and its subsidiaries determine the fair value using appraisals prepared by independent third party appraisers or our own staff of qualified appraisers, based on recent transactions involving sales of similar assets or other valuation techniques such as discounted cash flows methodologies using future cash flows estimated to be generated from operation of the existing assets or completion of development projects, as appropriate. For the nine months ended December 31, 2018 and 2019, the Company and its subsidiaries recognized impairment losses for the difference between carrying amounts and fair values in the amount of ¥26 million and ¥554 million, respectively, which are reflected as write-downs of long-lived assets. Breakdowns of these amounts are as follows. Nine months ended December 31, 2018 Nine months ended December 31, 2019 Amount (Millions of yen) The number of Amount (Millions of yen) The number of Write-downs due to decline in estimated future cash flows: Commercial facilities other than office buildings ¥ 16 1 ¥ 529 2 Others * 10 — 25 — Total ¥ 26 — ¥ 554 — * For the “Others,” the number of properties is omitted. Losses of ¥16 million in Real Estate segment and ¥10 million in Overseas Business segment were recorded for the nine months ended December 31, 2018. Losses of ¥534 million in Overseas Business segment and ¥20 million in Real Estate segment were recorded for the nine months ended December 31, 2019. For the three months ended December 31, 2018, there were no impairment losses. For the three months ended December 31, 2019, the Company and its subsidiaries recognized impairment losses for the difference between carrying amounts and fair values in the amount of ¥518 million which are reflected as write-downs of long-lived assets. Breakdowns of these amounts are as follows. Three months ended December 31, 2018 Three months ended December 31, 2019 Amount (Millions of yen) The number of Amount (Millions of yen) The number of Write-downs due to decline in estimated future cash flows: Commercial facilities other than office buildings ¥ 0 — ¥ 509 1 Others * 0 — 9 — Total ¥ 0 — ¥ 518 — * For the “Others,” the number of properties is omitted. Losses of ¥518 million in Overseas Business segment were recorded for the three months ended December 31, 2019. |
Per Share Data
Per Share Data | 9 Months Ended |
Dec. 31, 2019 | |
Earnings Per Share [Abstract] | |
Per Share Data | 19. Per Share Data Reconciliation of the differences between basic and diluted earnings per share (EPS) in the nine and three months ended December 31, 2018 and 2019 is as follows: During the nine and three months ended December 31, 2018 and 2019, there were no stock compensation which were antidilutive. Millions of yen Nine months ended December 31, 2018 Nine months ended December 31, 2019 Net Income attributable to ORIX Corporation shareholders ¥ 236,207 ¥ 244,319 Millions of yen Three months ended December 31, 2018 Three months ended December 31, 2019 Net Income attributable to ORIX Corporation shareholders ¥ 81,157 ¥ 85,169 Thousands of Shares Nine months ended December 31, 2018 Nine months ended December 31, 2019 Weighted-average shares 1,280,038 1,279,196 Effect of dilutive securities— Stock compensation 1,083 1,138 Weighted-average shares for diluted EPS computation 1,281,121 1,280,334 Thousands of Shares Three months ended December 31, 2018 Three months ended December 31, 2019 Weighted-average shares 1,279,962 1,278,048 Effect of dilutive securities— Stock compensation 1,040 1,245 Weighted-average shares for diluted EPS computation 1,281,002 1,279,293 Yen Nine months ended December 31, 2018 Nine months ended December 31, 2019 Earnings per share for net income attributable to ORIX Corporation shareholders: Basic ¥ 184.53 ¥ 190.99 Diluted ¥ 184.38 ¥ 190.82 Yen Three months ended December 31, 2018 Three months ended December 31, 2019 Earnings per share for net income attributable to ORIX Corporation shareholders: Basic ¥ 63.41 ¥ 66.64 Diluted ¥ 63.35 ¥ 66.58 Note: The Company’s shares held through the Board Incentive Plan Trust are included in the number of treasury stock shares to be deducted in calculation of the weighted-average shares for EPS computation. (1,715,210 and 1,813,193 shares for the nine months ended December 31, 2018 and 2019, 1,823,993 and 1,796,993 shares for the three months ended December 31, 2018 and 2019) |
Derivative Financial Instrument
Derivative Financial Instruments and Hedging | 9 Months Ended |
Dec. 31, 2019 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Financial Instruments and Hedging | 20. Derivative Financial Instruments and Hedging Risk management policy The Company and its subsidiaries manage interest rate risk through asset-liability management (“ALM”). The Company and its subsidiaries use derivative financial instruments to hedge interest rate risk and avoid changes in interest rates that could have a significant adverse effect on the Company’s results of operations. As a result of interest rate changes, the fair value and/or cash flow of interest sensitive assets and liabilities will fluctuate. However, such fluctuation will generally be offset by using derivative financial instruments as hedging instruments. Derivative financial instruments that the Company and its subsidiaries use as part of the interest risk management include interest rate swaps. The Company and its subsidiaries utilize foreign currency borrowings, foreign exchange contracts and foreign currency swap agreements to hedge exchange rate risk that are associated with certain transactions and investments denominated in foreign currencies. Similarly, overseas subsidiaries generally structure their liabilities to match the currency-denomination of assets in each region. A certain subsidiary holds option agreements, futures and foreign exchange contracts for the purpose of economic hedges against minimum guarantee risk of variable annuity and variable life insurance contracts. By using derivative instruments, the Company and its subsidiaries are exposed to credit risk in the event of nonperformance by counterparties. The Company and its subsidiaries attempt to manage the credit risk by carefully evaluating the content of transactions and the quality of counterparties in advance and regularly monitoring the amount of notional principal, fair value, type of transaction and other factors pertaining to each counterparty. The Company and its subsidiaries have no derivative instruments with credit-risk-related contingent features as of March 31, 2019 and December 31, 2019. (a) Cash flow hedges The Company and its subsidiaries designate interest rate swap agreements, foreign currency swap agreements and foreign exchange contracts as cash flow hedges for variability of cash flows originating from floating rate borrowings and forecasted transactions and for exchange fluctuations. (b) Fair value hedges The Company and its subsidiaries use financial instruments designated as fair value hedges to hedge their exposure to interest rate risk and foreign currency exchange risk. The Company and its subsidiaries designate foreign exchange contracts to minimize foreign currency exposures on bonds in foreign currencies. The Company and certain overseas subsidiaries use interest rate swap agreements to hedge interest rate exposure of the fair values of National government bonds in foreign currencies. (c) Hedges of net investment in foreign operations The Company uses foreign exchange contracts and borrowings and bonds denominated in foreign currencies to hedge the foreign currency exposure of the net investment in overseas subsidiaries. (d) Derivatives not designated as hedging instruments The Company and its subsidiaries entered into interest rate swap agreements, futures and foreign exchange contracts for risk management purposes which are not qualified for hedge accounting. A certain subsidiary holds option agreements, futures and foreign exchange contracts for the purpose of economic hedges against minimum guarantee risk of variable annuity and variable life insurance contracts. The effect of derivative instruments on the consolidated statements of income, pre-tax, (1) Cash flow hedges Gains (losses) recognized in other comprehensive income on derivative (effective portion) Gains (losses) reclassified from other comprehensive income (loss) into income (effective portion) Gains (losses) recognized in income on derivative excluded from effectiveness testing) Millions of yen Consolidated statements of income location Millions of yen Consolidated statements of income location Millions of yen Interest rate swap agreements ¥ (1,529 ) Finance revenues/Interest expense ¥ 141 — ¥ 0 Foreign exchange contracts 252 Other (income) and expense, net (220 ) — 0 Foreign currency swap agreements 577 Finance revenues/Interest expense/Other (income) and expense, net (515 ) — 0 (2) Fair value hedges Gains (losses) recognized in income on derivative and other Gains (losses) recognized in income on hedged item Millions of yen Consolidated statements of income location Millions of yen Consolidated statements of income location Interest rate swap agreements ¥ (4,553 ) Finance revenues/Interest expense ¥ 4,553 Finance revenues/Interest expense Foreign exchange contracts (3,834 ) Other (income) and expense, net 3,711 Other (income) and expense, net (3) Hedges of net investment in foreign operations Gains (losses) recognized in other comprehensive income on derivative and others (effective portion) Gains (losses) reclassified from other comprehensive income (loss) into income (effective portion) Gains (losses) recognized in income on derivative and others (ineffective portion and amount excluded from effectiveness testing) Millions of yen Consolidated statements of income location Millions of yen Consolidated statements of income location Millions of yen Foreign exchange contracts ¥ 2,500 Gains on sales of subsidiaries and affiliates and liquidation losses, net ¥ (115 ) — ¥ 0 Borrowings and bonds in foreign currencies (7,377 ) — 0 — 0 (4) Derivatives not designated as hedging instruments Gains (losses) recognized in income on derivative Millions of yen Consolidated statements of income location Interest rate swap agreements ¥ 1,013 Other (income) and expense, net Futures 2,573 Gains on investment securities and dividends Life insurance premiums and related investment income * Foreign exchange contracts (2,037 ) Gains on investment securities and dividends Life insurance premiums and related investment income * Other (income) and expense, net Credit derivatives held 59 Other (income) and expense, net Options held/written and other (1,077 ) Other (income) and expense, net Life insurance premiums and related investment income * * Futures, foreign exchange contracts and options held/written and other in the above table include losses arising from futures, foreign exchange contracts and options held to economically hedge the minimum guarantee risk of variable annuity and variable life insurance contracts for the nine months ended December 31, 2018 (see Note 17 “Life Insurance Operations”). The effect of derivative instruments on the consolidated statements of income, pre-tax, (1) Cash flow hedges Millions of yen Gains (losses) recognized in other comprehensive income on derivative Gains (losses) reclassified from other comprehensive income (loss) into income Interest expense Other (income) and expense, net Interest rate swap agreements ¥ (4,610 ) ¥ 584 ¥ 0 Foreign exchange contracts (369 ) 255 0 Foreign currency swap agreements (461 ) 260 108 (2) Fair value hedges Millions of yen Gains (losses) recognized in income on derivative and other Gains (losses) recognized in income on hedged item Life insurance premiums and related investment Other (income) and expense, net Life insurance premiums and related investment Other (income) and expense, net Interest rate swap agreements ¥ (5,794 ) ¥ 0 ¥ 5,431 ¥ 0 Foreign exchange contracts 1,172 153 (910 ) (128 ) (3) Hedges of net investment in foreign operations Millions of yen Gains (losses) recognized in other comprehensive income on derivative and others Gains (losses) reclassified from other comprehensive income (loss) into income (Millions of yen) Gains on sales of Interest expense Other (income) and Foreign exchange contracts ¥ 4,380 ¥ 1,594 ¥ 3,448 ¥ 21 Borrowings and bonds in foreign currencies 8,342 0 0 0 (4) Derivatives not designated as hedging instruments Millions of yen Gains (losses) recognized in income on derivative (Millions of yen) Life insurance premiums and Interest expense Other (income) and expense, net Interest rate swap agreements ¥ 0 ¥ 5 ¥ 120 Futures (3,292 ) 0 2,367 Foreign exchange contracts 177 3,635 1,494 Credit derivatives held 0 0 (6 ) Options held/written and other (180 ) 0 1,202 * Futures, foreign exchange contracts and options held/written and other in the above table include gains (losses) arising from futures, foreign exchange contracts and options held to economically hedge the minimum guarantee risk of variable annuity and variable life insurance contracts for the nine months ended December 31, 2019 (see Note 17 “Life Insurance Operations”). The effect of derivative instruments on the consolidated statements of income, pre-tax, (1) Cash flow hedges Gains (losses) recognized in other comprehensive income on derivative (effective portion) Gains (losses) reclassified from other comprehensive income (loss) into income (effective portion) Gains (losses) recognized in income on derivative excluded from effectiveness testing) Millions of yen Consolidated statements of income location Millions of yen Consolidated statements of income location Millions of yen Interest rate swap agreements ¥ (2,252 ) Finance revenues/Interest expense ¥ 4 — ¥ 0 Foreign exchange contracts 9 Other (income) and expense, net (230 ) — 0 Foreign currency swap agreements 1,544 Finance revenues/Interest expense /Other (income) and expense, net 579 — 0 (2) Fair value hedges Gains (losses) recognized in income on derivative and other Gains (losses) recognized in income on hedged item Millions of yen Consolidated statements of income location Millions of yen Consolidated statements of income location Interest rate swap agreements (5,781 ) Finance revenues/Interest expense 5,781 Finance revenues/Interest expense Foreign exchange contracts 830 Other (income) and expense, net (953 ) Other (income) and expense, net (3) Hedges of net investment in foreign operations Gains (losses) recognized in other comprehensive income on derivative and others (effective portion) Gains (losses) reclassified from other comprehensive income (loss) into income (effective portion) Gains (losses) recognized in income on derivative and others (ineffective portion and amount excluded from effectiveness testing) Millions of yen Consolidated statements of income location Millions of yen Consolidated statements of income location Millions of yen Foreign exchange contracts ¥ 4,234 — ¥ 0 — ¥ 0 Borrowings and bonds in foreign currencies 14,711 — 0 — 0 (4) Derivatives not designated as hedging instruments Gains (losses) recognized in income on derivative Millions of yen Consolidated statements of income location Interest rate swap agreements ¥ (134 ) Other (income) and expense, net Futures 5,257 Gains on investment securities and dividends Life insurance premiums and related investment income * Foreign exchange contracts 5,819 Gains on investment securities and dividends Life insurance premiums and related investment income * Other (income) and expense, net Credit derivatives held 40 Other (income) and expense, net Options held/written and other (1,350 ) Other (income) and expense, net Life insurance premiums and related investment income * * Futures, foreign exchange contracts and options held/written and other in the above table include gains (losses) arising from futures, foreign exchange contracts and options held to economically hedge the minimum guarantee risk of variable annuity and variable life insurance contracts for the three months ended December 31, 2018 (see Note 17 “Life Insurance Operations”). The effect of derivative instruments on the consolidated statements of income, pre-tax, (1) Cash flow hedges Millions of yen Gains (losses) recognized in other comprehensive income on derivative Gains (losses) reclassified from other comprehensive income (loss) into income Interest expense Other (income) and expense, net Interest rate swap agreements ¥ 2,481 ¥ 218 ¥ 0 Foreign exchange contracts (255 ) 107 0 Foreign currency swap agreements 235 (25 ) 100 (2) Fair value hedges Millions of yen Gains (losses) recognized in income on derivative and other Gains (losses) recognized in income on hedged item Life insurance premiums Other (income) and Life insurance premiums Other (income) and Interest rate swap agreements ¥ 3,346 ¥ 0 ¥ (3,299 ) ¥ 0 Foreign exchange contracts (934 ) 127 1,370 (98 ) (3) Hedges of net investment in foreign operations Millions of yen Gains (losses) recognized in other comprehensive income on derivative and others Gains (losses) reclassified from other comprehensive income (loss) into income (Millions of yen) Gains on sales of Interest expense Other (income) and Foreign exchange contracts ¥ (12,324 ) ¥ 1,594 ¥ 1,194 ¥ 7 Borrowings and bonds in foreign currencies (10,477 ) 0 0 0 (4) Derivatives not designated as hedging instruments Millions of yen Gains (losses) recognized in income on derivative (Millions of yen) Life insurance premiums and Interest expense Other (income) and expense, net Interest rate swap agreements ¥ 0 ¥ 2 ¥ (12 ) Futures (2,284 ) 0 1,760 Foreign exchange contracts (337 ) 1,119 6,017 Credit derivatives held 0 0 10 Options held/written and other (85 ) 0 1,328 * Futures, foreign exchange contracts and options held/written and other in the above table include gains (losses) arising from futures, foreign exchange contracts and options held to economically hedge the minimum guarantee risk of variable annuity and variable life insurance contracts for the three months ended December 31, 2019 (see Note 17 “Life Insurance Operations”). The effect of the components excluded from the assessment of hedge effectiveness on the consolidated statements of income, pre-tax, Fair value hedges Millions of yen Gains (losses) reclassified from other comprehensive income (loss) into Life insurance premiums and related Foreign exchange contracts ¥ (1,324 ) The effect of the components excluded from the assessment of hedge effectiveness on the consolidated statements of income, pre-tax, Fair value hedges Millions of yen Gains (losses) reclassified from other comprehensive income (loss) into income Life insurance premiums and related Foreign exchange contracts ¥ (904 ) The carrying amount of hedged assets and liabilities recognized in balance sheets in fair value hedges and the cumulative amount of fair value hedging adjustments included in the carrying amount at December 31, 2019 is as follows. Assets as hedged items in fair value hedges Liabilities as hedged items in fair value hedges Millions of yen Millions of yen Consolidated balance sheets location Carrying amount The cumulative Consolidated balance sheets location Carrying amount The cumulative Investment in Securities * ¥ 318,697 ¥ 13,213 — ¥ 0 ¥ 0 * Accumulated fair value hedge adjustments of ¥(1,921) million are included for hedged items for which hedge accounting has been discontinued. Notional amounts of derivative instruments and other, fair values of derivative instruments and other before offsetting at March 31, 2019 and December 31, 2019 are as follows. March 31, 2019 Derivative assets Derivative liabilities Notional amount Fair value Consolidated balance sheets location Fair value Consolidated balance sheets location Millions of yen Millions of yen Millions of yen Derivatives designated as hedging instruments and other: Interest rate swap agreements ¥ 498,874 ¥ 11 Other Assets ¥ 17,320 Other Liabilities Futures, foreign exchange contracts 505,909 1,888 Other Assets 3,177 Other Liabilities Foreign currency swap agreements 65,575 1,203 Other Assets 364 Other Liabilities Foreign currency long-term debt 641,127 0 — 0 — Derivatives not designated as hedging instruments: Interest rate swap agreements ¥ 60,657 ¥ 127 Other Assets ¥ 119 Other Liabilities Options held/written and other * 556,668 11,140 Other Assets 2,809 Other Liabilities Futures, foreign exchange contracts * 320,710 1,119 Other Assets 2,159 Other Liabilities Credit derivatives held 262 7 Other Assets 10 Other Liabilities * The notional amounts of options held/written and other and futures, foreign exchange contracts in the above table include options held of ¥34,701 million, futures contracts of ¥37,359 million and foreign exchange contracts of ¥13,171 million to economically hedge the minimum guarantee risk of variable annuity and variable life insurance contracts at March 31, 2019, respectively. Derivative assets in the above table include fair value of the options held, futures contracts and foreign exchange contracts before offsetting of ¥206 million, ¥248 million and ¥30 million and derivative liabilities include fair value of the futures and foreign exchange contracts before offsetting of ¥258 million and ¥173 million at March 31, 2019, respectively. December 31, 2019 Derivative assets Derivative liabilities Notional amount Fair value Consolidated balance sheets location Fair value Consolidated balance sheets location Millions of yen Millions of yen Millions of yen Derivatives designated as hedging instruments and other: Interest rate swap agreements ¥ 504,636 ¥ 158 Other Assets ¥ 24,703 Other Liabilities Options held/written and other 949 5 Other Assets 0 — Futures, foreign exchange contracts 509,650 25 Other Assets 9,753 Other Liabilities Foreign currency swap agreements 66,422 1,421 Other Assets 965 Other Liabilities Foreign currency long-term debt 618,412 0 — 0 — Derivatives not designated as hedging instruments: Interest rate swap agreements ¥ 7,183 ¥ 9 Other Assets ¥ 65 Other Liabilities Options held/written and other * 490,428 13,687 Other Assets 10,960 Other Liabilities Futures, foreign exchange contracts * 323,990 378 Other Assets 4,742 Other Liabilities * The notional amounts of options held/written and other and futures, foreign exchange contracts in the above table include options held of ¥25,225 million, futures contracts of ¥30,042 million and foreign exchange contracts of ¥9,716 million to economically hedge the minimum guarantee risk of variable annuity and variable life insurance contracts at December 31, 2019, respectively. Derivative assets in the above table include fair value of the options held, futures contracts and foreign exchange contracts before offsetting of ¥16 million, ¥0 million and ¥6 million and derivative liabilities include fair value of the futures and foreign exchange contracts before offsetting of ¥34 million and ¥114 million at December 31, 2019, respectively. |
Offsetting Assets and Liabiliti
Offsetting Assets and Liabilities | 9 Months Ended |
Dec. 31, 2019 | |
Text Block [Abstract] | |
Offsetting Assets and Liabilities | 21. Offsetting Assets and Liabilities The gross amounts recognized, gross amounts offset, and net amounts presented in the consolidated balance sheets regarding derivative assets and liabilities as of March 31, 2019 and December 31, 2019 are as follows. March 31, 2019 Millions of yen Gross amounts recognized Gross amounts offset in the consolidated balance sheets Net amounts presented in the consolidated balance sheets Gross amounts not offset in the consolidated balance sheets* Net amount Financial instruments Collateral received/pledged Derivative assets ¥ 15,495 ¥ (1,497 ) ¥ 13,998 ¥ (196 ) ¥ 0 ¥ 13,802 Total assets ¥ 15,495 ¥ (1,497 ) ¥ 13,998 ¥ (196 ) ¥ 0 ¥ 13,802 Derivative liabilities ¥ 25,958 ¥ (1,497 ) ¥ 24,461 ¥ (8,353 ) ¥ (79 ) ¥ 16,029 Total liabilities ¥ 25,958 ¥ (1,497 ) ¥ 24,461 ¥ (8,353 ) ¥ (79 ) ¥ 16,029 December 31, 2019 Millions of yen Gross amounts recognized Gross amounts offset in the consolidated balance sheets Net amounts presented in the consolidated balance sheets Gross amounts not offset in the consolidated balance sheets* Net amount Financial instruments Collateral received/pledged Derivative assets ¥ 15,683 ¥ (514 ) ¥ 15,169 ¥ (16 ) ¥ 0 ¥ 15,153 Total assets ¥ 15,683 ¥ (514 ) ¥ 15,169 ¥ (16 ) ¥ 0 ¥ 15,153 Derivative liabilities ¥ 51,188 ¥ (514 ) ¥ 50,674 ¥ (14,143 ) ¥ (1,313 ) ¥ 35,218 Total liabilities ¥ 51,188 ¥ (514 ) ¥ 50,674 ¥ (14,143 ) ¥ (1,313 ) ¥ 35,218 * The balances related to enforceable master netting agreements or similar agreements which were not offset in the consolidated balance sheets. |
Estimated Fair Value of Financi
Estimated Fair Value of Financial Instruments | 9 Months Ended |
Dec. 31, 2019 | |
Fair Value Disclosures [Abstract] | |
Estimated Fair Value of Financial Instruments | 22. Estimated Fair Value of Financial Instruments The following information is provided to help readers gain an understanding of the relationship between carrying amount of financial instruments reported in the Company’s consolidated balance sheets and the related market or fair value. The disclosures do not include net investment in leases, investment in affiliates, pension obligations and insurance contracts and reinsurance contracts except for those classified as investment contracts. March 31, 2019 Millions of yen Carrying amount Estimated fair value Level 1 Level 2 Level 3 Assets: Cash and cash equivalents ¥ 1,161,032 ¥ 1,161,032 ¥ 1,161,032 ¥ 0 ¥ 0 Restricted cash 122,548 122,548 122,548 0 0 Installment loans (net of allowance for probable loan losses) 3,231,708 3,228,750 0 199,590 3,029,160 Equity securities *1 425,593 425,593 68,631 295,769 61,193 Trading debt securities 1,564 1,564 0 1,564 0 Available-for-sale 1,264,244 1,264,244 24,831 1,138,966 100,447 Held-to-maturity 114,061 144,326 0 120,714 23,612 Other Assets: Time deposits 4,754 4,754 0 4,754 0 Derivative assets *2 13,998 13,998 0 0 0 Reinsurance recoverables (Investment contracts) 29,989 30,400 0 0 30,400 Liabilities: Short-term debt ¥ 309,549 ¥ 309,549 ¥ 0 ¥ 309,549 ¥ 0 Deposits 1,782,198 1,782,753 0 1,782,753 0 Policy liabilities and Policy account balances (Investment contracts) 244,497 244,653 0 0 244,653 Long-term debt 4,186,222 4,199,341 0 1,158,287 3,041,054 Other Liabilities: Derivative liabilities *2 24,461 24,461 0 0 0 *1 The amount of ¥12,100 million of investment funds measured at net asset value per share is not included. *2 It represents the amount after offset under counterparty netting of derivative assets and liabilities. For the information of input level before netting, see Note 3 “Fair Value Measurements.” December 31, 2019 Millions of yen Carrying amount Estimated fair value Level 1 Level 2 Level 3 Assets: Cash and cash equivalents ¥ 902,312 ¥ 902,312 ¥ 902,312 ¥ 0 ¥ 0 Restricted cash 118,297 118,297 118,297 0 0 Installment loans (net of allowance for probable loan losses) 3,571,075 3,575,442 0 212,528 3,362,914 Equity securities *1 417,433 417,433 73,334 277,917 66,182 Trading debt securities 1,371 1,371 0 1,371 0 Available-for-sale 1,576,349 1,576,349 22,381 1,453,002 100,966 Held-to-maturity 113,880 144,522 0 120,150 24,372 Other Assets: Time deposits 4,250 4,250 0 4,250 0 Derivative assets *2 15,169 15,169 0 0 0 Reinsurance recoverables (Investment contracts) 9,019 9,272 0 0 9,272 Liabilities: Short-term debt ¥ 384,132 ¥ 384,132 ¥ 0 ¥ 384,132 ¥ 0 Deposits 2,053,762 2,053,439 0 2,053,439 0 Policy liabilities and Policy account balances (Investment contracts) 217,610 217,734 0 0 217,734 Long-term debt 4,119,179 4,144,011 0 1,105,707 3,038,304 Other Liabilities: Derivative liabilities *2 50,674 50,674 0 0 0 *1 The amount of ¥11,878 million of investment funds measured at net asset value per share is not included. *2 It represents the amount after offset under counterparty netting of derivative assets and liabilities. For the information of input level before netting, see Note 3 “Fair Value Measurements.” Input level of fair value measurement If active market prices are available, fair value measurement is based on quoted active market prices and classified as Level 1. If active market prices are not available, fair value measurement is based on observable inputs other than quoted prices included within Level 1 such as quoted market prices of similar assets and classified as Level 2. If market prices are not available and there are no observable inputs, then fair value is estimated by using valuation models including discounted cash flow methodologies, commonly used option-pricing models and broker quotes and classified as Level 3, as the valuation models and broker quotes are based on inputs that are unobservable in the market. |
Commitments, Guarantees and Con
Commitments, Guarantees and Contingent Liabilities | 9 Months Ended |
Dec. 31, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments, Guarantees and Contingent Liabilities | 23. Commitments, Guarantees and Contingent Liabilities Commitments The minimum future rentals on non-cancelable Years ending March 31, Millions of yen 2020 ¥ 7,694 2021 6,647 2022 5,923 2023 5,434 2024 4,802 Thereafter 34,485 Total ¥ 64,985 The Company and certain subsidiaries lease lands under fixed-term land lease agreements, which are cancelable when certain conditions are met. The future maximum lease commitment under such arrangements at March 31, 2019 totals ¥57,388 million through March 31, 2024 and ¥64,222 million thereafter. The Company and certain subsidiaries lease office space under operating lease agreements, which are primarily cancelable, and made rental payments totaling ¥17,564 million in fiscal 2019. Certain computer systems of the Company and certain subsidiaries have been operated and maintained under non-cancelable Millions of yen March 31, December 31, Within one year ¥ 4,323 ¥ 3,905 More than one year 3,185 4,579 Total ¥ 7,508 ¥ 8,484 The Company and certain subsidiaries have commitments to fund estimated construction costs and so forth to complete ongoing real estate development projects and other commitments, totaling ¥121,647 million and ¥81,982 million as of March 31, 2019 and December 31, 2019, respectively. The Company and certain subsidiaries have agreements to commit to execute loans for customers, and to invest in funds, as long as the agreed-upon terms are met. The total unused credit and capital amount available are ¥375,238 million and ¥398,065 million as of March 31, 2019 and December 31, 2019, respectively. Guarantees March 31, 2019 December 31, 2019 Millions of yen Fiscal year Millions of yen Fiscal year Guarantees Potential future payment Book value of guarantee liabilities Maturity of the longest contract Potential future payment Book value of guarantee liabilities Maturity of the longest contract Corporate loans ¥ 500,499 ¥ 6,707 2026 ¥ 498,541 ¥ 6,045 2027 Transferred loans 175,623 1,436 2059 195,190 1,408 2060 Consumer loans 343,119 42,400 2030 342,156 42,406 2030 Housing loans 40,395 4,701 2048 11,143 4,513 2048 Other 263 1 2024 186 1 2024 Total ¥ 1,059,899 ¥ 55,245 — ¥ 1,047,216 ¥ 54,373 — Guarantee of corporate loans: Payment or performance risk of the guarantees is considered based on the historical experience of credit events. There have been no significant changes in the payment or performance risk of the guarantees for the nine months ended December 31, 2019. Guarantee of transferred loans: In return for the delegated authority, the subsidiary guarantees the performance of certain housing loans transferred to Fannie Mae and has the payment or performance risk of the guarantees to absorb some of the losses when losses arise from the transferred loans. There were no significant changes in the payment or performance risk of these guarantees for the nine months ended December 31, 2019. As of March 31, 2019 and December 31, 2019, the total outstanding principal amount of loans transferred under the Delegated Underwriting and Servicing program, for which the subsidiary guarantees to absorb some of the losses, were ¥593,062 million and ¥620,718 million, respectively. Guarantee of consumer loans: Payment or performance risk of the guarantees is considered based on the historical experience of credit events. There were no significant changes in the payment or performance risk of the guarantees for the nine months ended December 31, 2019. Guarantee of housing loans: Payment or performance risk of the guarantees is considered based on the historical experience of credit events. There were no significant changes in the payment or performance risk of the guarantees for the nine months ended December 31, 2019. Other guarantees: Litigation— Collateral— Millions of yen March 31, 2019 December 31, 2019 Lease payments, loans and investment in operating leases ¥ 109,210 ¥ 130,832 Investment in securities 160,408 162,317 Property under facility operations 31,264 28,250 Other assets and other 28,895 22,168 Total ¥ 329,777 ¥ 343,567 As of March 31, 2019 and December 31, 2019, debt liabilities were secured by shares of subsidiaries, which were eliminated through consolidation adjustment, of ¥33,280 million and ¥80,267 million, respectively, and debt liabilities of affiliates were secured by investment in affiliates of ¥49,125 million and ¥56,320 million, respectively. As of December 31, 2019, debt liabilities were secured by loans to subsidiaries, which were eliminated through consolidation adjustment, of ¥10,794 million. In addition, ¥46,029 million and ¥51,308 million, respectively, were pledged primarily by investment in securities for collateral deposits and deposit for real estate transaction as of March 31, 2019 and December 31, 2019. Under loan agreements relating to short-term and long-term debt from commercial banks and certain insurance companies, the Company and certain subsidiaries are required to provide collateral against these debts at any time if requested by the lenders. The Company and the subsidiaries did not receive any such requests from the lenders as of December 31, 2019. |
Segment Information
Segment Information | 9 Months Ended |
Dec. 31, 2019 | |
Segment Reporting [Abstract] | |
Segment Information | 24. Segment Information Based on the nature of major products and services, customer base, and management organizations, our business are organized into six operating segments: Corporate Financial Services, Maintenance Leasing, Real Estate, Investment and Operation, Retail and Overseas Business. The financial information by the operating segments as reported below is that which is available by the segments, and regularly reviewed by the chief operating decision maker to make decisions about resources to be allocated to the segment and assess its performance. Types of products and services of the six segments are as follows. Corporate Financial Services : Finance and fee business Maintenance Leasing : Automobile leasing and rentals, car-sharing; IT-related Real Estate : Real estate development, rental and management; facility operation; real estate investment management Investment and Operation : Environment and energy, private equity and concession Retail : Life insurance, banking and card loan Overseas Business : Asset management, aircraft- and ship-related operations, private equity and finance In fiscal 2019, the Company had made DAIKYO a wholly-owned subsidiary, to complement their respective real estate business and to jointly aim for medium- and long-term growth as a comprehensive real estate group. Accordingly, the segment classification of DAIKYO had been shifted from Investment and Operation segment to Real Estate segment since the previous fiscal year. As a result of this change, the segment data of the previous fiscal year has been retrospectively restated. The Company and its subsidiaries adopted the New Lease Standard on April 1, 2019. This adoption has resulted in a gross up of ROU assets of investment in operating leases and property under facility operations principally for operating leases, where the Company is the lessee, such as land leases and office and equipment leases in all of our segments except for Retail segment. For further information, see Note 2 “Significant Accounting and Reporting Policies (ag) New accounting pronouncements.” The following table represents the financial data for segments for the nine months ended December 31, 2018: Millions of yen Corporate Financial Services Maintenance Leasing Real Estate Investment and Operation Retail Overseas Business Total Segment revenues ¥ 71,717 ¥ 214,304 ¥ 357,381 ¥ 504,032 ¥ 289,288 ¥ 365,420 ¥ 1,802,142 Segment profits 19,760 30,387 54,721 31,091 66,237 95,621 297,817 The following table represents the financial data for segments for the nine months ended December 31, 2019: Millions of yen Corporate Financial Services Maintenance Leasing Real Estate Investment and Operation Retail Overseas Business Total Segment revenues ¥ 69,721 ¥ 224,017 ¥ 332,039 ¥ 341,302 ¥ 355,468 ¥ 369,192 ¥ 1,691,739 Segment profits 13,159 25,767 56,070 55,590 70,447 131,894 352,927 The following table represents the financial data for segments for the three months ended December 31, 2018: Millions of yen Corporate Financial Services Maintenance Leasing Real Estate Investment and Operation Retail Overseas Business Total Segment revenues ¥ 20,650 ¥ 72,662 ¥ 113,383 ¥ 136,357 ¥ 67,553 ¥ 126,657 ¥ 537,262 Segment profits 2,972 9,804 10,557 6,201 17,062 27,905 74,501 The following table represents the financial data for segments for the three months ended December 31, 2019: Millions of yen Corporate Financial Services Maintenance Leasing Real Estate Investment and Operation Retail Overseas Business Total Segment revenues ¥ 24,031 ¥ 76,801 ¥ 102,851 ¥ 116,245 ¥ 129,888 ¥ 124,837 ¥ 574,653 Segment profits 4,008 9,142 9,892 27,203 27,262 45,031 122,538 The following table presents the financial data on segment assets for segments as of March 31, 2019 and December 31, 2019: Millions of yen Corporate Financial Services Maintenance Leasing Real Estate Investment and Operation Retail Overseas Business Total March 31, 2019 ¥ 959,725 ¥ 873,775 ¥ 720,221 ¥ 733,612 ¥ 3,571,437 ¥ 3,138,928 ¥ 9,997,698 December 31, 2019 1,000,148 900,943 756,092 808,466 4,110,336 3,283,169 10,859,154 The accounting policies for segment financial data is generally the same as described in Note 2 “Significant Accounting and Reporting Policies”, except for the treatments on tax expenses, net income attributable to non-controlling non-controlling non-controlling non-controlling (pre-tax) non-controlling non-controlling after-tax pre-tax Assets attributed to each segment are net investment in leases, installment loans, investment in operating leases, investment in securities, property under facility operations, investment in affiliates, inventories, advances for finance lease and operating lease (included in other assets), advances for property under facility operations (included in other assets), goodwill, intangible assets acquired in business combinations (included in other assets) and servicing assets (included in other assets). It should be noted that the depreciation expenses of office facilities are included in each segment profit and loss while the corresponding assets are not allocated to each segment’s assets. However, the amount is not significant. The reconciliation of segment totals to consolidated financial statement amounts is as follows: Significant items to be reconciled are segment revenues, segment profits and segment assets. Other items do not have a significant difference between segment amounts and consolidated amounts. Millions of yen Nine months ended Nine months ended Segment revenues: Total revenues for segments ¥ 1,802,142 ¥ 1,691,739 Revenues related to corporate assets 7,894 8,035 Revenues from inter-segment transactions (13,881 ) (15,395 ) Total consolidated revenues ¥ 1,796,155 ¥ 1,684,379 Segment profits: Total profits for segments ¥ 297,817 ¥ 352,927 Corporate profits (losses) (5,190 ) (6,875 ) Net income attributable to the noncontrolling interests and net income attributable to the redeemable noncontrolling interests 2,541 4,406 Total consolidated income before income taxes ¥ 295,168 ¥ 350,458 Millions of yen Three months ended Three months ended Segment revenues: Total revenues for segments ¥ 537,262 ¥ 574,653 Revenues related to corporate assets 1,162 1,805 Revenues from inter-segment transactions (4,283 ) (4,757 ) Total consolidated revenues ¥ 534,141 ¥ 571,701 Segment profits: Total profits for segments ¥ 74,501 ¥ 122,538 Corporate profits (losses) (1,027 ) (2,439 ) Net income attributable to the noncontrolling interests and net income attributable to the redeemable noncontrolling interests 749 1,730 Total consolidated income before income taxes ¥ 74,223 ¥ 121,829 Millions of yen March 31, 2019 December 31, 2019 Segment assets: Total assets for segments ¥ 9,997,698 ¥ 10,859,154 Cash and cash equivalents, restricted cash 1,283,580 1,020,609 Allowance for doubtful receivables on finance leases and probable loan losses (58,011 ) (56,922 ) Trade notes, accounts and other receivable 280,590 276,405 Other corporate assets 671,060 743,712 Total consolidated assets ¥ 12,174,917 ¥ 12,842,958 The following tables represent the consolidated financial data of the Company and its subsidiaries by geographic areas for the nine months ended December 31, 2018, and for the nine months ended December 31, 2019: For the nine months ended December 31, 2018 Millions of yen Nine months ended December 31, 2018 Japan The Americas *1 Other *2 Total Total Revenues ¥ 1,433,808 ¥ 149,509 ¥ 212,838 ¥ 1,796,155 Income before Income Taxes 201,496 55,590 38,082 295,168 For the nine months ended December 31, 2019 Millions of yen Nine months ended December 31, 2019 Japan The Americas *1 Other *2 Total Total Revenues ¥ 1,314,414 ¥ 154,143 ¥ 215,822 ¥ 1,684,379 Income before Income Taxes 219,836 64,739 65,883 350,458 The following tables represent the consolidated financial data of the Company and its subsidiaries by geographic areas for the three months ended December 31, 2018, and for the three months ended December 31, 2019: For the three months ended December 31, 2018 Millions of yen Three months ended December 31, 2018 Japan The Americas *1 Other *2 Total Total Revenues ¥ 408,515 ¥ 50,509 ¥ 75,117 ¥ 534,141 Income before Income Taxes 47,354 11,626 15,243 74,223 For the three months ended December 31, 2019 Millions of yen Three months ended December 31, 2019 Japan The Americas *1 Other *2 Total Total Revenues ¥ 446,798 ¥ 52,623 ¥ 72,280 ¥ 571,701 Income before Income Taxes 78,153 19,307 24,369 121,829 *1 Mainly the United States *2 Mainly Asia, Europe, Australasia and the Middle East The following tables represent the breakdown of revenue by types of contract with customers, products and services, and geographic areas for the nine months ended December 31, 2018, for the nine months ended December 31, 2019: For the nine months ended December 31, 2018 Millions of yen Nine months ended December 31, 2018 Reportable segments Corporate revenue and intersegment transactions Total revenues Corporate Financial Services Maintenance Leasing Real Estate Investment and Operation Retail Overseas Business Total Goods or services category Sales of goods ¥ 3,184 ¥ 3,539 ¥ 4,876 ¥ 371,192 ¥ 0 ¥ 5,996 ¥ 388,787 ¥ 1,167 ¥ 389,954 Real estate sales 0 0 62,842 0 0 402 63,244 0 63,244 Asset management and servicing 0 0 4,458 328 121 143,910 148,817 (66 ) 148,751 Automobile related services 367 45,659 0 139 0 12,752 58,917 (271 ) 58,646 Facilities operation 0 0 79,624 0 0 2,944 82,568 0 82,568 Environment and energy services 2,242 0 165 96,520 0 783 99,710 (619 ) 99,091 Real estate management and brokerage 0 0 78,466 0 0 0 78,466 (1,314 ) 77,152 Real estate contract work 0 0 53,055 0 0 0 53,055 (9 ) 53,046 Other 26,545 6,750 3,334 27,975 2,319 14,949 81,872 (1,511 ) 80,361 Total revenues from contracts with customers 32,338 55,948 286,820 496,154 2,440 181,736 1,055,436 (2,623 ) 1,052,813 Geographical location Japan 32,338 55,675 286,820 495,602 2,440 4,637 877,512 (480 ) 877,032 The Americas 0 0 0 0 0 89,901 89,901 0 89,901 Other 0 273 0 552 0 87,198 88,023 (2,143 ) 85,880 Total revenues from contracts with customers 32,338 55,948 286,820 496,154 2,440 181,736 1,055,436 (2,623 ) 1,052,813 Other revenues * 39,379 158,356 70,561 7,878 286,848 183,684 746,706 (3,364 ) 743,342 Segment revenues /Total revenues ¥ 71,717 ¥ 214,304 ¥ 357,381 ¥ 504,032 ¥ 289,288 ¥ 365,420 ¥ 1,802,142 ¥ (5,987 ) ¥ 1,796,155 For the nine months ended December 31, 2019 Millions of yen Nine months ended December 31, 2019 Reportable segments Corporate revenue and intersegment transactions Total revenues Corporate Financial Services Maintenance Leasing Real Estate Investment and Operation Retail Overseas Business Total Goods or services category Sales of goods ¥ 4,323 ¥ 4,734 ¥ 3,257 ¥ 197,472 ¥ 0 ¥ 3,856 ¥ 213,642 ¥ 1,216 ¥ 214,858 Real estate sales 0 0 64,518 0 0 751 65,269 0 65,269 Asset management and servicing 0 0 5,962 264 122 133,012 139,360 (80 ) 139,280 Automobile related services 372 45,727 0 172 0 12,981 59,252 (296 ) 58,956 Facilities operation 0 0 57,807 0 0 363 58,170 (0 ) 58,170 Environment and energy services 2,298 0 0 105,810 0 787 108,895 (548 ) 108,347 Real estate management and brokerage 0 0 79,648 0 0 0 79,648 (1,790 ) 77,858 Real estate contract work 0 0 65,338 0 0 0 65,338 0 65,338 Other 26,003 7,389 3,046 28,747 3,052 11,079 79,316 (1,191 ) 78,125 Total revenues from contracts with customers 32,996 57,850 279,576 332,465 3,174 162,829 868,890 (2,689 ) 866,201 Geographical location Japan 32,996 57,285 279,576 331,404 3,174 3,146 707,581 (158 ) 707,423 The Americas 0 0 0 0 0 76,367 76,367 0 76,367 Other 0 565 0 1,061 0 83,316 84,942 (2,531 ) 82,411 Total revenues from contracts with customers 32,996 57,850 279,576 332,465 3,174 162,829 868,890 (2,689 ) 866,201 Other revenues * 36,725 166,167 52,463 8,837 352,294 206,363 822,849 (4,671 ) 818,178 Segment revenues /Total revenues ¥ 69,721 ¥ 224,017 ¥ 332,039 ¥ 341,302 ¥ 355,468 ¥ 369,192 ¥ 1,691,739 ¥ (7,360 ) ¥ 1,684,379 The following tables represent the breakdown of revenue by types of contract with customers, products and services, and geographic areas for the three months ended December 31, 2018, and for the three months ended December 31, 2019: For the three months ended December 31, 2018 Millions of yen Three months ended December 31, 2018 Reportable segments Corporate revenue and intersegment transactions Total revenues Corporate Financial Services Maintenance Leasing Real Estate Investment and Operation Retail Overseas Business Total Goods or services category Sales of goods ¥ 1,180 ¥ 1,142 ¥ 1,544 ¥ 94,144 ¥ 0 ¥ 3,881 ¥ 101,891 ¥ 152 ¥ 102,043 Real estate sales 0 0 20,148 0 0 246 20,394 0 20,394 Asset management and servicing 0 0 1,579 93 37 48,402 50,111 (11 ) 50,100 Automobile related services 122 16,027 0 46 0 4,348 20,543 (96 ) 20,447 Facilities operation 0 0 26,860 0 0 977 27,837 (0 ) 27,837 Environment and energy services 551 0 43 31,158 0 207 31,959 (203 ) 31,756 Real estate management and brokerage 0 0 26,350 0 0 0 26,350 (284 ) 26,066 Real estate contract work 0 0 21,015 0 0 0 21,015 (9 ) 21,006 Other 8,028 2,235 1,098 9,184 843 5,950 27,338 (1,530 ) 25,808 Total revenues from contracts with customers 9,881 19,404 98,637 134,625 880 64,011 327,438 (1,981 ) 325,457 Geographical location Japan 9,881 19,331 98,637 134,420 880 1,759 264,908 (1,341 ) 263,567 The Americas 0 0 0 0 0 30,716 30,716 0 30,716 Other 0 73 0 205 0 31,536 31,814 (640 ) 31,174 Total revenues from contracts with customers 9,881 19,404 98,637 134,625 880 64,011 327,438 (1,981 ) 325,457 Other revenues * 10,769 53,258 14,746 1,732 66,673 62,646 209,824 (1,140 ) 208,684 Segment revenues /Total revenues ¥ 20,650 ¥ 72,662 ¥ 113,383 ¥ 136,357 ¥ 67,553 ¥ 126,657 ¥ 537,262 ¥ (3,121 ) ¥ 534,141 For the three months ended December 31, 2019 Millions of yen Three months ended December 31, 2019 Reportable segments Corporate revenue and intersegment transactions Total revenues Corporate Financial Services Maintenance Leasing Real Estate Investment and Operation Retail Overseas Business Total Goods or services category Sales of goods ¥ 1,506 ¥ 1,528 ¥ 346 ¥ 71,352 ¥ 0 ¥ 564 ¥ 75,296 ¥ 139 ¥ 75,435 Real estate sales 0 0 19,948 0 0 250 20,198 0 20,198 Asset management and servicing 0 0 2,060 85 42 47,389 49,576 (38 ) 49,538 Automobile related services 121 16,254 0 48 0 4,351 20,774 (97 ) 20,677 Facilities operation 0 0 16,248 0 0 107 16,355 0 16,355 Environment and energy services 610 0 0 31,591 0 206 32,407 (187 ) 32,220 Real estate management and brokerage 0 0 26,782 0 0 0 26,782 (390 ) 26,392 Real estate contract work 0 0 22,657 0 0 0 22,657 0 22,657 Other 9,312 2,551 967 9,138 1,087 3,522 26,577 (904 ) 25,673 Total revenues from contracts with customers 11,549 20,333 89,008 112,214 1,129 56,389 290,622 (1,477 ) 289,145 Geographical location Japan 11,549 20,142 89,008 111,971 1,129 980 234,779 (679 ) 234,100 The Americas 0 0 0 0 0 27,374 27,374 0 27,374 Other 0 191 0 243 0 28,035 28,469 (798 ) 27,671 Total revenues from contracts with customers 11,549 20,333 89,008 112,214 1,129 56,389 290,622 (1,477 ) 289,145 Other revenues * 12,482 56,468 13,843 4,031 128,759 68,448 284,031 (1,475 ) 282,556 Segment revenues /Total revenues ¥ 24,031 ¥ 76,801 ¥ 102,851 ¥ 116,245 ¥ 129,888 ¥ 124,837 ¥ 574,653 ¥ (2,952 ) ¥ 571,701 * Other revenues include revenues that are not in the scope of revenue from contracts with customers, such as life insurance premiums and related investment income, operating leases, finance revenues that include interest income, and others. |
Subsequent Events
Subsequent Events | 9 Months Ended |
Dec. 31, 2019 | |
Subsequent Events [Abstract] | |
Subsequent Events | 25. Subsequent Events There are no material subsequent events. |
Significant Accounting and Re_2
Significant Accounting and Reporting Policies (Policies) | 9 Months Ended |
Dec. 31, 2019 | |
Accounting Policies [Abstract] | |
Principles of consolidation | (a) Principles of consolidation The consolidated financial statements include the accounts of the Company and all of its subsidiaries. Investments in affiliates, where the Company has the ability to exercise significant influence by way of 20% – 50% ownership or other means, are accounted for by using the equity method. Where the Company holds majority voting interests but noncontrolling shareholders have substantive participating rights to decisions that occur as part of the ordinary course of their business, the equity method is applied. In addition, the consolidated financial statements include VIEs to which the Company and its subsidiaries are primary beneficiaries. A lag period of up to three months is used on a consistent basis for recognizing the results of certain subsidiaries and affiliates. All significant intercompany accounts and transactions have been eliminated in consolidation. |
Use of estimates | (b) Use of estimates The preparation of consolidated financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The Company has identified ten areas where it believes assumptions and estimates are particularly critical to the financial statements. The Company makes estimates and assumptions to the selection of valuation techniques and determination of assumptions used in fair value measurements, the determination and periodic reassessment of the unguaranteed residual value for finance leases and operating leases, the determination and reassessment of insurance policy liabilities and deferred policy acquisition costs, the determination of the allowance for doubtful receivables on finance leases and probable loan losses, the recognition and measurement of impairment of long-lived assets, the recognition and measurement of impairment of investment in securities, the determination of the valuation allowance for deferred tax assets and the evaluation of tax positions, the assessment and measurement of effectiveness in hedging relationship using derivative financial instruments, the determination of benefit obligation and net periodic pension cost and the recognition and measurement of impairment of goodwill and indefinite-lived intangible assets. |
Foreign currencies translation | (c) Foreign currencies translation The Company and its subsidiaries maintain their accounting records in their functional currency. Transactions in foreign currencies are recorded in the entity’s functional currency based on the prevailing exchange rates on the transaction date. Monetary assets and liabilities in foreign currencies are recorded in the entity’s functional currency based on the prevailing exchange rates at the end of each fiscal year. The financial statements of overseas subsidiaries and affiliates are translated into Japanese yen by applying the exchange rates in effect at the end of each fiscal year to all assets and liabilities. Income and expenses are translated at the average rates of exchange prevailing during the fiscal year. The currencies in which the operations of the overseas subsidiaries and affiliates are conducted are regarded as the functional currencies of these companies. Foreign currency translation adjustments reflected in other comprehensive income (loss), net of applicable income taxes, arise from the translation of foreign currency financial statements into Japanese yen. |
Revenue recognition | (d) Revenue recognition The Company and its subsidiaries recognize revenues from only contracts with customers, such as sales of goods and real estate, and services income, based on the following five steps; Step 1: Identify the contract(s) with a customer Step 2: Identify the performance obligations in the contract Step 3: Determine the transaction price Step 4: Allocate the transaction price to the performance obligations in the contract Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation In accordance with these steps, revenues are recognized to depict the transfer of promised goods or services to customers in the amounts that reflect the consideration to which the entity expects to be entitled in exchange for those goods or services. Revenues are recognized net of discount, incentives and estimated sales returns. In case that the Company and its subsidiaries receive payment from customers before satisfying performance obligations, the amounts are recognized as contract liabilities. In transactions that involve third parties, if the Company and its subsidiaries control the goods or services before they are transferred to the customers, revenue is recognized on gross amount as the principal. Excluding the aforementioned policy, the policies as specifically described hereinafter are applied for each of revenue items. Finance Revenues (1) Revenues from finance leases Lessor leases consist of leases for various equipment types, including office equipment, industrial machinery, transportation equipment and real estates. Net investment in leases includes sales-type leases and direct financing leases which are full-payout leases. Leases not qualifying as sales-type leases or direct financing leases are accounted for as operating leases. Interest income on net investment in leases is recognized over the life of each respective lease using the interest method. In providing leasing services, the Company and its subsidiaries execute supplemental businesses, such as paying insurance and handling taxes on leased assets on behalf of lessees. The estimated unguaranteed residual value represents estimated proceeds from the disposition of equipment at the time the lease is terminated. Estimates of residual values are determined based on market values of used equipment, estimates of when and the extent to which equipment will become obsolete and actual recovery being experienced for similar used equipment. Initial direct costs of sales-type leases and direct financing leases are being deferred and amortized as a yield adjustment over the life of the related lease by using interest method. The unamortized balance of initial direct costs of sales-type leases and direct financing leases is reflected as a component of net investment in leases. (2) Revenues from installment loans Interest income on installment loans is recognized on an accrual basis. Certain direct loan origination costs, net of origination fees, are being deferred and amortized over the contractual term of the loan as an adjustment of the related loan’s yield using the interest method. Interest payments received on impaired loans other than purchased loans are recorded as interest income unless the collection of the remaining investment is doubtful at which time payments received are recorded as reductions of principal. For purchased loans, although the acquired assets may remain loans in legal form, collections on these loans often do not reflect the normal historical experience of collecting delinquent accounts, and the need to tailor individual collateral-realization strategies often makes it difficult to reliably estimate the amount, timing, or nature of collections. Accordingly, the Company and its subsidiaries use the cost recovery method of income recognition for such purchased loans regardless of whether impairment is recognized or not. (3) Revenues from financial guarantees At the inception of a guarantee, fair value for the guarantee is recognized as a liability in the consolidated balance sheets. The Company and its subsidiaries recognize revenue mainly over the term of guarantee by a systematic and rational amortization method as the Company and the subsidiaries are released from the risk of the obligation. (4) Non-accrual In common with all classes, past-due past-due past-due past-due past-due past-due non-accrual non-accrual Gains on investment securities and dividends — Operating leases — Estimates of residual values are based on market values of used equipment, estimates of when and the extent to which equipment will become obsolete and actual recovery being experienced for similar used equipment. Initial direct costs of operating leases are being deferred and amortized as a straight-line basis over the life of the related lease. The unamortized balance of initial direct costs is reflected as investment in operating leases. |
Insurance and reinsurance transactions | (e) Insurance and reinsurance transactions Premium income from life insurance policies, net of premiums on reinsurance ceded, is recognized as earned premiums when due. Life insurance benefits are recorded as expenses when they are incurred. Policy liabilities and policy account balances for future policy benefits are measured using the net level premium method, based on actuarial estimates of the amount of future policyholder benefits. The policies are characterized as long-duration policies and mainly consist of whole life, term life, endowments, medical insurance and individual annuity insurance contracts. For policies other than individual annuity insurance contracts, computation of policy liabilities necessarily includes assumptions about mortality, morbidity, lapse rates, future yields on related investments and other factors applicable at the time the policies are written. A certain subsidiary continually evaluates the potential for changes in the estimates and assumptions applied in determining policy liabilities, both positive and negative, and uses the results of these evaluations both to adjust recorded liabilities and to adjust underwriting criteria and product offerings. The insurance contracts sold by the subsidiary include variable annuity, variable life and fixed annuity insurance contracts. The subsidiary manages investment assets on behalf of variable annuity and variable life policyholders, which consist of equity securities and are included in investment in securities in the consolidated balance sheets. These investment assets are measured at fair value with realized and unrealized gains or losses recognized in life insurance premiums and related investment income in the consolidated statements of income. The subsidiary elected the fair value option for the entire variable annuity and variable life insurance contracts with changes in the fair value recognized in life insurance costs. The subsidiary provides minimum guarantees to variable annuity and variable life policyholders under which it is exposed to the risk of compensating losses incurred by the policyholders to the extent contractually required. To mitigate the risk, a portion of the minimum guarantee risk related to variable annuity and variable life insurance contracts is ceded to reinsurance companies and the remaining risk is economically hedged by entering into derivative contracts. The reinsurance contracts do not relieve the subsidiary from the obligation as the primary obligor to compensate certain losses incurred by the policyholders, and the default of the reinsurance companies may impose additional losses on the subsidiary. Certain subsidiaries have elected the fair value option for certain reinsurance contracts relating to variable annuity and variable life insurance contracts, which are included in other assets in the consolidated balance sheets. Policy liabilities and policy account balances for fixed annuity insurance contracts are measured based on the single-premiums plus interest based on expected rate and fair value adjustments relating to the acquisition of the subsidiary, less withdrawals, expenses and other charges. The credited interest is recorded in life insurance costs in the consolidated statements of income. Certain costs related directly to the successful acquisition of new or renewal insurance contracts, or deferred policy acquisition costs are deferred and amortized over the respective policy periods in proportion to anticipated premium revenue. These deferred policy acquisition costs consist primarily of agent commissions, except for recurring policy maintenance costs and certain variable costs and expenses for underwriting policies. |
Allowance for doubtful receivables on direct financing leases and probable loan losses | (f) Allowance for doubtful receivables on finance leases and probable loan losses The allowance for doubtful receivables on finance leases and probable loan losses is maintained at a level which, in the judgment of management, is appropriate to provide for probable losses inherent in lease and loan portfolios. The allowance is increased by provision charged to income and is decreased by charge-offs, net of recoveries. Developing the allowance for doubtful receivables on finance leases and probable loan losses is subject to numerous estimates and judgments. In evaluating the appropriateness of the allowance, management considers various factors, including the business characteristics and financial conditions of the obligors, current economic conditions and trends, prior charge-off Impaired loans are individually evaluated for a valuation allowance based on the present value of expected future cash flows, the loan’s observable market price or the fair value of the collateral securing the loans if the loans are collateral-dependent. For non-impaired charge-off charge-off The Company and its subsidiaries charge off doubtful receivables when the likelihood of any future collection is believed to be minimal considering debtors’ creditworthiness and the liquidation status of collateral. |
Impairment of long-lived assets | (g) Impairment of long-lived assets The Company and its subsidiaries perform a recoverability test for long-lived assets to be held and used in operations, including tangible assets and intangible assets being amortized, consisting primarily of office buildings, condominiums, mega solar and other properties under facility operations, whenever events or changes in circumstances indicated that the assets might be impaired. The assets are considered not recoverable when the undiscounted future cash flows estimated to be generated by those assets are less than the carrying amount of those assets. The carrying amount of assets not recoverable is reduced to fair value if lower than the carrying amount. The Company and its subsidiaries determine the fair value using appraisals prepared by independent third party appraisers or our own staff of qualified appraisers based on recent transactions involving sales of similar assets or other valuation techniques such as discounted cash flows methodologies using future cash flows estimated to be generated from operation of the existing assets or completion of development projects, as appropriate. |
Investment in securities | (h) Investment in securities Equity securities are generally reported at fair value with unrealized gains and losses included in income. Equity securities without readily determinable fair values are recorded at its cost minus impairment, if any, plus or minus changes resulting from observable price changes under the election of the measurement alternative, except for investments which are valued at net asset value per share. Equity securities elected to apply the measurement alternative are written down to its fair value with losses included in income if a qualitative assessment indicates that the investment is impaired and the fair value of the investment is less than its carrying value. In addition, investments included in equity securities that are accounted for under the equity method are recorded at fair value with unrealized gains and losses included in income if certain subsidiaries elect the fair value option. Trading debt securities are reported at fair value with unrealized gains and losses included in income. Available-for-sale Held-to-maturity For debt securities other than trading, where the fair value is less than the amortized cost, the Company and its subsidiaries consider whether those securities are other-than-temporarily impaired using all available information about their collectability. The Company and its subsidiaries do not consider a debt security to be other-than-temporarily impaired if (1) the Company and its subsidiaries do not intend to sell the debt security, (2) it is not more likely than not that the Company and its subsidiaries will be required to sell the debt security before recovery of its amortized cost basis and (3) the present value of estimated cash flows will fully cover the amortized cost of the security. On the other hand, the Company and its subsidiaries consider a debt security to be other-than-temporarily impaired if any of the above mentioned three conditions are not met. When the Company and its subsidiaries deem a debt security to be other-than-temporarily impaired, the Company and its subsidiaries recognize the entire difference between the amortized cost and the fair value of the debt security in earnings if the Company and its subsidiaries intend to sell the debt security or it is more likely than not that the Company and its subsidiaries will be required to sell the debt security before recovery of its amortized cost basis less any current-period credit loss. However, if the Company and its subsidiaries do not intend to sell the debt security and it is not more likely than not that the Company and its subsidiaries will be required to sell the debt security before recovery of its amortized cost basis less any current-period credit loss, the Company and its subsidiaries separate the difference between the amortized cost and the fair value of the debt security into the credit loss component and the non-credit non-credit |
Income taxes | (i) Income taxes The Company, in general, determines its provision for income taxes for quarterly periods by applying the current estimate of the effective tax rate for the full fiscal year to the actual year-to-date At the fiscal year end, income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, and for tax loss carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the year in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rate is recognized in income in the period that includes the enactment date. The Company and its subsidiaries release to earnings stranded income tax effects in accumulated other comprehensive income (loss) resulting from changes in tax laws or rates or changes in judgment about realization of a valuation allowance on a specific identification basis when the individual items are completely sold or terminated. A valuation allowance is recognized if, based on the weight of available evidence, it is “more likely than not” that some portion or all of the deferred tax asset will not be realized. The effective income tax rates for the nine months ended December 31, 2018 and 2019 were 19.0% and 29.3%, respectively. These rates are (11.0)% and 29.3% for the three months ended December 31, 2018 and 2019, respectively. For the nine and three months ended December 31, 2018 and 2019, the Company and its subsidiaries in Japan were subject to a National Corporate tax of approximately 24%, an Inhabitant tax of approximately 4% and a deductible Enterprise tax of approximately 4%, which in the aggregate result in a statutory income tax rate of approximately 31.5%. The effective income tax rate is different from the statutory tax rate primarily because of certain nondeductible expenses for tax purposes, non-taxable On October 26, 2018, the Company decided to acquire common shares of its domestic subsidiary, DAIKYO through a tender offer (hereinafter, “the Tender Offer”), and with the establishment of the Tender Offer, the Company decided to change the method of collecting undistributed earnings of DAIKYO from collection through a taxable transaction to collection through a tax free transaction. On December 10, 2018, the Tender Offer was concluded. Along with the establishment of the event, the Company completely reversed the deferred tax liabilities previously recorded for undistributed earnings of DAIKYO. As a result of this reversal of deferred tax liabilities, income taxes decreased by ¥27,376 million for the nine and three months ended December 31, 2018. The Company and its subsidiaries file tax returns in Japan and certain foreign tax jurisdictions and recognize the financial statement effects of a tax position taken or expected to be taken in a tax return when it is more likely than not, based on the technical merits, that the position will be sustained upon tax examination, including resolution of any related appeals or litigation processes, and measure tax positions that meet the recognition threshold at the largest amount of tax benefit that is greater than 50 percent likely to be realized upon settlement with the taxing authority. The Company and its subsidiaries present an unrecognized tax benefit as either a reduction of a deferred tax asset, a reduction of an amount refundable or a liability, based on the intended method of settlement. The Company and its subsidiaries classify penalties and interest expense related to income taxes as part of provision for income taxes in the consolidated statements of income. The Company and certain subsidiaries have elected to file a consolidated tax return for National Corporation tax purposes. |
Securitized assets | (j) Securitized assets The Company and its subsidiaries have securitized and sold to investors various financial assets such as lease receivables and loan receivables. In the securitization process, the assets to be securitized are sold to SPEs that issue asset-backed beneficial interests and securities to the investors. SPEs used in securitization transactions are consolidated if the Company and its subsidiaries are the primary beneficiary of the SPEs, and the transfers of the financial assets to those consolidated SPEs are not accounted for as sales. Assets held by consolidated SPEs continue to be accounted for as lease receivables or loan receivables, as they were before the transfer, and asset-backed beneficial interests and securities issued to the investors are accounted for as debt. When the Company and its subsidiaries have transferred financial assets to a transferee that is not subject to consolidation, the Company and its subsidiaries account for the transfer as a sale if control over the transferred assets is surrendered. The Company and certain subsidiaries originate and sell loans into the secondary market, while retaining the obligation to service those loans. In addition, a certain subsidiary undertakes obligations to service loans originated by others. The subsidiary recognizes servicing assets if it expects the benefit of servicing to more than adequately compensate it for performing the servicing or recognizes servicing liabilities if it expects the benefit of servicing to less than adequately compensate it. These servicing assets and liabilities are initially recognized at fair value and subsequently accounted for using the amortization method whereby the assets and liabilities are amortized in proportion to and over the period of estimated net servicing income or net servicing loss. On a quarterly basis, servicing assets and liabilities are evaluated for impairment or increased obligations. The fair value of servicing assets and liabilities is estimated using an internal valuation model, or by obtaining an opinion of value from an independent third-party vendor. Both methods are based on calculating the present value of estimated future net servicing cash flows, taking into consideration discount rates, prepayments and servicing costs. The internal valuation model is validated at least semiannually through third-party valuations. |
Derivative financial instruments | (k) Derivative financial instruments The Company and its subsidiaries recognize all derivatives on the consolidated balance sheets at fair value. The accounting treatment of subsequent changes in the fair value depends on their use, and whether they qualify as effective “hedges” for accounting purposes. Derivatives for the purpose of economic hedge that are not qualified for hedge accounting are adjusted to fair value through the consolidated statements of income. If a derivative is a hedge, then depending on its nature, changes in its fair value will be either offset against changes in the fair value of hedged assets or liabilities through the consolidated statements of income, or recorded in other comprehensive income (loss), net of applicable income taxes. If a derivative is held as a hedge of the variability of fair value related to a recognized asset or liability or an unrecognized firm commitment (“fair value” hedge), changes in the fair value of the derivative are recorded in earnings along with the changes in the fair value of the hedged item. If a derivative is held as a hedge of the variability of cash flows related to a forecasted transaction or a recognized asset or liability (“cash flow” hedge), changes in the fair value of the derivative are recorded in other comprehensive income (loss), net of applicable income taxes, until earnings are affected by the variability in cash flows of the designated hedged item. If a derivative is held as a hedge of a foreign-currency fair-value or cash-flow hedge (“foreign currency” hedge), changes in the fair value of the derivative are recorded in either earnings or other comprehensive income (loss), net of applicable income taxes, depending on whether the hedging activity is a fair-value hedge or a cash-flow hedge. However, if a derivative is used as a hedge of a net investment in a foreign operation, changes in its fair value are recorded in the foreign currency translation adjustments account within other comprehensive income (loss), net of applicable income taxes. Starting from this fiscal year, the Company and its subsidiaries select either the amortization approach or the fair value approach, depending on the type of hedging activity, for the initial value of the component excluded from the assessment of effectiveness, and recognize it through the consolidated statements of income. When the amortization approach is adopted, the change in fair value is recognized in earnings using a systematic and rational method over the life of the hedging instrument and then any difference between the change in fair value and the amount recognized in earnings is recognized in other comprehensive income (loss), net of applicable income taxes. When the fair value approach is adopted, the change in the fair value is immediately recognized through the consolidated statements of income. In the past fiscal year, the change in fair value of the component excluded from the assessment of effectiveness and the ineffective portion of qualified hedges were immediately recognized through the consolidated statements of income. For all hedging relationships that are designated and qualified for hedge accounting, at inception the Company and its subsidiaries formally document the details of the hedging relationship and the hedging activity. The Company and its subsidiaries formally assess, both at the hedge’s inception and on an ongoing basis, the effectiveness of the hedge relationship. The Company and its subsidiaries cease hedge accounting prospectively when the derivative no longer qualifies for hedge accounting. |
Pension plans | (l) Pension plans The Company and certain subsidiaries have contributory and non-contributory The Company and its subsidiaries also recognize the funded status of pension plans, measured as the difference between the fair value of plan assets and the benefit obligation, on the consolidated balance sheets. Changes in that funded status are recognized in the year in which the changes occur through other comprehensive income (loss), net of applicable income taxes. |
Stock-based compensation | (m) Stock-based compensation In principle, the Company and its subsidiaries measure stock-based compensation expense as consideration for services provided by employees based on the fair value on the grant date. The costs are recognized over the requisite service period. |
Stock splits | (n) Stock splits Stock splits implemented prior to October 1, 2001 had been accounted for by transferring an amount equivalent to the par value of the shares from additional paid-in As a result of a revision to the Code before amendment effective on October 1, 2001 and the Companies Act implemented on May 1, 2006, the above-mentioned method of accounting required by the Code became unnecessary. In the United States, stock splits in comparable circumstances are considered to be stock dividends and are accounted for by transferring from retained earnings to common stock and additional paid-in paid-in Had such stock splits made prior to October 1, 2001 been accounted for in this manner, additional paid-in |
Cash and cash equivalents | (o) Cash and cash equivalents Cash and cash equivalents include cash on hand, deposits placed with banks and short-term highly liquid investments with original maturities of three months or less. |
Restricted cash | (p) Restricted cash Restricted cash consists of trust accounts under securitization programs and real estate, deposits related to servicing agreements, deposits collected on the underlying assets and applied to non-recourse |
InstallmentLoans | (q) Installment loans Certain loans, for which the Company and its subsidiaries have the intent and ability to sell to outside parties in the foreseeable future, are considered held for sale and are carried at the lower of cost or fair value determined on an individual basis, except loans held for sale for which the fair value option was elected. A certain subsidiary elected the fair value option on certain loans held for sale. The subsidiary enters into forward sale agreements to offset the change in the fair value of loans held for sale, and the election of the fair value option allows the subsidiary to recognize both the change in the fair value of the loans and the change in the fair value of the forward sale agreements due to changes in interest rates in the same accounting period. Loans held for sale are included in installment loans, and the outstanding balances of these loans as of March 31, 2019 and December 31, 2019 were ¥54,311 million and ¥80,234 million, respectively. There were ¥38,671 million and ¥43,238 million of loans held for sale as of March 31, 2019 and December 31, 2019, respectively, measured at fair value by electing the fair value option. |
Property under facility operations | (r) Property under facility operations Property under facility operations consist primarily of operating facilities (including hotels and training facilities) and environmental assets (including mega solar and thermal power stations), which are stated at cost less accumulated depreciation, and depreciation is calculated mainly on a straight-line basis over the estimated useful lives of the assets. Accumulated depreciation was ¥102,185 million and ¥99,748 million as of March 31, 2019 and December 31, 2019, respectively. |
Trade notes, accounts and other receivable | (s) Trade notes, accounts and other receivable Trade notes, accounts and other receivable primarily include accounts receivables in relation to sales of assets to be leased, inventories and other assets and payment made on behalf of lessees for property tax, maintenance fees and insurance premiums in relation to lease contracts. |
Inventories | (t) Inventories Inventories consist primarily of residential condominiums under development, completed residential condominiums (including those waiting to be delivered to buyers under the contract for sale), and merchandise for sale. Residential condominiums under development are carried at cost less any impairment losses, and completed residential condominiums and merchandise for sale are stated at the lower of cost or fair value less cost to sell. The cost of inventories that are unique and not interchangeable is determined on the specific identification method and the cost of other inventories is principally determined on the average method. As of March 31, 2019 and December 31, 2019, residential condominiums under development were ¥55,860 million and ¥74,843 million, respectively, and completed residential condominiums and merchandise for sale were ¥59,835 million and ¥57,115 million, respectively. The Company and its subsidiaries recorded ¥269 million and ¥277 million of write-downs principally on completed residential condominiums and merchandise for sale for the nine months ended December 31, 2018 and 2019, respectively, primarily resulting from a decrease in expected sales price. The amounts of such write-downs for the three months ended December 31, 2018 and 2019 were ¥159 million and ¥123 million, respectively. These write-downs were recorded in costs of goods and real estate sold and included in Real Estate segment, Investment and Operation segment and Corporate Financial Services segment. |
Office facilities | (u) Office facilities Office facilities are stated at cost less accumulated depreciation. Depreciation is calculated on a declining-balance basis or straight-line basis over the estimated useful lives of the assets. Accumulated depreciation was ¥54,499 million and ¥63,823 million as of March 31, 2019 and December 31, 2019, respectively. |
Right-of-use assets | (v) Right-of-use The Company and its subsidiaries record the ROU assets recognized from the lessee’s lease transaction as investment in operating leases, property under facility operations and office facilities. Lease liabilities are included in other liabilities. ROU assets are stated at cost less accumulated amortization. ROU assets of finance leases are amortized mainly on a straight-line basis over the lease term. ROU assets of operating leases are amortized over the lease term by the fixed term operating cost minus the interest cost. Amortization of ROU assets of finance leases and operating leases expenses are included in costs of operating leases, services expense and selling, general and administrative expenses. |
Other assets | (w) Other assets Other assets consist primarily of goodwill and other intangible assets in acquisitions, reinsurance recoverables in relation to reinsurance contracts, deferred insurance policy acquisition costs which are amortized over the contract periods, leasehold deposits, advance payments made in relation to construction of real estate under operating leases and property under facility operations, prepaid benefit cost, servicing assets, derivative assets, contract assets related to real estate contract works and deferred tax assets. |
Goodwill and other intangible assets | (x) Goodwill and other intangible assets The Company and its subsidiaries account for all business combinations using the acquisition method. The Company and its subsidiaries recognize intangible assets acquired in a business combination apart from goodwill if the intangible assets meet one of two criteria—either the contractual-legal criterion or the separately identifiable criterion. Goodwill is measured as an excess of the aggregate of consideration transferred and the fair value of noncontrolling interests over the net of the acquisition-date amounts of the identifiable assets acquired and the liabilities assumed in the business combination measured at fair value. The Company and its subsidiaries would recognize a bargain purchase gain when the amount of recognized net assets exceeds the sum of consideration transferred and the fair value of noncontrolling interests. In a business combination achieved in stages, the Company and its subsidiaries remeasure their previously held equity interest at their acquisition-date fair value and recognize the resulting gain or loss, if any, in earnings. The Company and its subsidiaries perform an impairment test for goodwill and any indefinite-lived intangible assets at least annually. Additionally, if events or changes in circumstances indicate that the asset might be impaired, the Company and its subsidiaries test for impairment when such events or changes occur. The Company and its subsidiaries have the option to perform a qualitative assessment to determine whether to calculate the fair value of a reporting unit under the first step of the two-step two-step two-step two-step The Company and its subsidiaries have the option to perform a qualitative assessment to determine whether it is more likely than not that an indefinite-lived intangible asset is impaired. The Company and its subsidiaries perform the qualitative assessment for some indefinite-lived intangible assets but bypass the qualitative assessment and perform the quantitative assessment for other indefinite-lived intangible assets. For those indefinite-lived intangible assets for which the qualitative assessment is performed, if, after assessing the totality of events and circumstances, the Company and/or subsidiaries conclude that it is not more likely than not that the indefinite-lived intangible asset is impaired, then the Company and/or subsidiaries do not perform the quantitative impairment test. However, if the Company and/or subsidiaries conclude otherwise or determine to bypass the qualitative assessment, the Company and/or subsidiaries calculate the fair value of the indefinite-lived intangible asset and perform the quantitative impairment test. If the carrying amount of the indefinite-lived intangible asset exceeds its fair value, an impairment loss is recognized in an amount equal to that excess. Intangible assets with finite lives are amortized over their useful lives and tested for impairment. The Company and its subsidiaries perform a recoverability test for the intangible assets whenever events or changes in circumstances indicate that the assets might be impaired. The intangible assets are considered not recoverable when the undiscounted future cash flows estimated to be generated by those assets are less than the carrying amount of those assets, and the net carrying amount of assets not recoverable is reduced to fair value if lower than the carrying amount. The amount of goodwill was ¥430,679 million and ¥426,111 million as of March 31, 2019 and December 31, 2019, respectively. The amount of other intangible assets was ¥427,098 million and ¥398,701 million as of March 31, 2019 and December 31, 2019, respectively. |
Trade notes, accounts and other payable | (y) Trade notes, accounts and other payable Trade notes, accounts and other payable include primarily accounts payable in relation to purchase of assets to be leased, merchandise for sale and other assets, accounts payable in relation to construction work of residential condominiums and deposits received mainly for withholding income tax. |
Other Liabilities | (z) Other Liabilities Other liabilities include primarily lease liabilities recognized from the lessee’s lease transaction, accrued expenses related to interest and bonus, accrued benefit liability, advances received from lessees in relation to lease contracts, deposits received from real estate transaction, contract liabilities mainly related to automobile maintenance services and software services, and derivative liabilities. |
Capitalization of interest costs | (aa) Capitalization of interest costs The Company and its subsidiaries capitalized interest costs primarily related to assets under construction such as specific environmental assets, long-term real estate development and ship projects. |
Advertising | (ab) Advertising The costs of advertising are expensed as incurred. |
Earnings per share | (ac) Earnings per share Basic earnings per share is computed by dividing net income attributable to ORIX Corporation shareholders by the weighted average number of shares of outstanding common stock in each period. Diluted earnings per share is calculated by reflecting the potential dilution that could occur if securities or other contracts issuing common stock were exercised or converted into common stock. |
Additional acquisition and partial sale of the parent's ownership interest in subsidiaries | (ad) Additional acquisition and partial sale of the parent’s ownership interest in subsidiaries Additional acquisition of the parent’s ownership interest in subsidiaries and partial sale of such interest where the parent continues to retain control of the subsidiary are accounted for as equity transactions. On the other hand, in a transaction that results in the loss of control, the gain or loss recognized in income includes the realized gain or loss related to the portion of ownership interest sold and the gain or loss on the remeasurement to fair value of the interest retained. |
Redeemable noncontrolling interests | (ae) Redeemable noncontrolling interests Noncontrolling interests in a certain subsidiary are redeemable preferred shares which are subject to call and put rights upon certain shareholder events. As redemption of the noncontrolling interest is not solely in the control of the subsidiary, it is recorded between liabilities and equity on the consolidated balance sheets at its estimated redemption value. |
Issuance of stock by an affiliate | (af) Issuance of stock by an affiliate When an affiliate issues stocks to unrelated third parties, the Company and its subsidiaries’ ownership interest in the affiliate decreases. In the event that the price per share is more or less than the Company and its subsidiaries’ average carrying amount per share, the Company and its subsidiaries adjust the carrying amount of its investment in the affiliate and recognize the gain or loss in the consolidated statements of income in the year in which the change in ownership interest occurs. |
New accounting pronouncements | (ag) New accounting pronouncements In February 2016, Accounting Standards Update 2016-02 2019-01, The New Lease Standard provides a number of optional practical expedients in transition. The Company and its subsidiaries have elected the “package of practical expedients”, which permits the Company and its subsidiaries to not reassess under the New Lease Standard the prior conclusions about lease identification, lease classification and initial direct costs. The Company and its subsidiaries have elected other New Lease Standard’s available transitional practical expedients. The New Lease Standard also provides practical expedients for an entity’s ongoing accounting. The Company and its subsidiaries have elected the short-term lease recognition exemption mainly for vehicle and office equipment leases. Consequently, for those leases that meet the requirements, the Company and its subsidiaries have not recognized ROU assets or lease liabilities, and this includes not recognizing ROU assets or lease liabilities for existing short-term leases of those assets in transition. The Company and its subsidiaries also have elected the practical expedient to not separate lease and non-lease The impact of the adoption of these updates has resulted in a gross up of ROU assets and corresponding lease liabilities principally for operating leases, such as land leases and office and equipment leases where it is the lessee. The effect of the adoption of these updates on the Company and its subsidiaries’ financial position at the adoption date was increases of ROU assets of ¥ 134,345 million in investment in operating leases, ¥ 77,989 million in property under facility operations, ¥ 75,805 million in office facilities and lease liabilities of ¥ 284,867 million in other liabilities in the consolidated balance sheet as of April 1, 2019. ROU assets in investment in operating leases, property under facility operations and office facilities were ¥ 128,951 million, ¥ 69,719 million and ¥ 75,816 million, respectively, and lease liabilities in other liabilities were ¥ 271,093 million as of December 31, 2019. The adoption had no material effect on the Company and its subsidiaries’ results of operations for the nine and three months ended December 31, 2019. In the consolidated statements of cash flows, cash receipts from lessor’s finance leases have been reclassified from principal payments received under direct financing leases of cash flows from investing activities to principal payments received under net investment in leases of cash flows from operating activities. In June 2016, Accounting Standards Update 2016-13 available-for-sale off-balance-sheet In January 2017, Accounting Standards Update 2017-04 In August 2017, Accounting Standards Update 2017-12 In August 2018, Accounting Standards Update 2018-12 In August 2018, Accounting Standards Update 2018-13 In August 2018, Accounting Standards Update 2018-14 715-20 In December 2019, Accounting Standards Update 2019-12 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 9 Months Ended |
Dec. 31, 2019 | |
Fair Value Disclosures [Abstract] | |
Recorded Amounts of Major Financial Assets and Liabilities Measured at Fair Value on Recurring Basis | The following tables present recorded amounts of major financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2019 and December 31, 2019: March 31, 2019 Millions of yen Total Carrying Value in Consolidated Balance Sheets Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Loans held for sale*1 ¥ 38,671 ¥ 0 ¥ 38,671 ¥ 0 Trading debt securities 1,564 0 1,564 0 Available-for-sale 1,264,244 24,831 1,138,966 100,447 Japanese and foreign government bond securities*2 430,851 3,227 427,624 0 Japanese prefectural and foreign municipal bond securities 193,305 0 190,417 2,888 Corporate debt securities*3 487,997 21,604 459,235 7,158 CMBS and RMBS in the Americas 61,479 0 61,479 0 Other asset-backed securities and debt securities 90,612 0 211 90,401 Equity securities*4*5 425,593 68,631 295,769 61,193 Derivative assets: 15,495 299 9,924 5,272 Interest rate swap agreements 138 0 138 0 Options held/written and other 11,140 0 5,868 5,272 Futures, foreign exchange contracts 3,007 299 2,708 0 Foreign currency swap agreements 1,203 0 1,203 0 Credit derivatives written 7 0 7 0 Netting*6 (1,497 ) 0 0 0 Net derivative assets 13,998 0 0 0 Other assets: 12,449 0 0 12,449 Reinsurance recoverables*7 12,449 0 0 12,449 Total ¥ 1,758,016 ¥ 93,761 ¥ 1,484,894 ¥ 179,361 Liabilities: Derivative liabilities: ¥ 25,958 ¥ 522 ¥ 25,436 ¥ 0 Interest rate swap agreements 17,439 0 17,439 0 Options held/written and other 2,809 0 2,809 0 Futures, foreign exchange contracts 5,336 522 4,814 0 Foreign currency swap agreements 364 0 364 0 Credit derivatives held 10 0 10 0 Netting*6 (1,497 ) 0 0 0 Net derivative Liabilities 24,461 0 0 0 Policy Liabilities and Policy Account Balances: 360,198 0 0 360,198 Variable annuity and variable life insurance contracts*8 360,198 0 0 360,198 Total ¥ 386,156 ¥ 522 ¥ 25,436 ¥ 360,198 December 31, 2019 Millions of yen Total Carrying Value in Consolidated Balance Sheets Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Loans held for sale*1 ¥ 43,238 ¥ 0 ¥ 43,238 ¥ 0 Trading debt securities 1,371 0 1,371 0 Available-for-sale 1,576,349 22,381 1,453,002 100,966 Japanese and foreign government bond securities*2 591,235 3,585 587,650 0 Japanese prefectural and foreign municipal bond securities 238,288 0 235,437 2,851 Corporate debt securities*3 594,755 18,796 571,743 4,216 CMBS and RMBS in the Americas 57,962 0 57,962 0 Other asset-backed securities and debt securities 94,109 0 210 93,899 Equity securities*4*5 417,433 73,334 277,917 66,182 Derivative assets: 15,683 29 5,210 10,444 Interest rate swap agreements 167 0 167 0 Options held/written and other 13,692 0 3,248 10,444 Futures, foreign exchange contracts 403 29 374 0 Foreign currency swap agreements 1,421 0 1,421 0 Netting*6 (514 ) 0 0 0 Net derivative assets 15,169 0 0 0 Other assets: 9,219 0 0 9,219 Reinsurance recoverables*7 9,219 0 0 9,219 Total ¥ 2,063,293 ¥ 95,744 ¥ 1,780,738 ¥ 186,811 Liabilities: Derivative liabilities: ¥ 51,188 ¥ 157 ¥ 51,004 ¥ 27 Interest rate swap agreements 24,768 0 24,768 0 Options held/written and other 10,960 0 10,933 27 Futures, foreign exchange contracts 14,495 157 14,338 0 Foreign currency swap agreements 965 0 965 0 Netting*6 (514 ) 0 0 0 Net derivative Liabilities 50,674 0 0 0 Policy Liabilities and Policy Account Balances: 333,017 0 0 333,017 Variable annuity and variable life insurance contracts*8 333,017 0 0 333,017 Total ¥ 384,205 ¥ 157 ¥ 51,004 ¥ 333,044 |
Reconciliation of Financial Assets and Liabilities (Net) Measured at Fair Value on Recurring Basis Using Significant Unobservable Input | The following tables present the reconciliation of financial assets and liabilities (net) measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the nine months ended December 31, 2018 and 2019: Nine months ended December 31, 2018 Millions of yen Balance at April 1, 2018 Gains or losses (realized/unrealized) Purchases *3 Sales Settlements *4 Transfers in and/ or out of Level 3 (net) Balance at December 31, 2018 Change in unrealized gains or losses included in earnings for assets and liabilities still held at December 31, 2018 *1 Included in earnings *1 Included in other comprehensive income *2 Total Available-for-sale ¥ 120,917 ¥ 2,032 ¥ 288 ¥ 2,320 ¥ 36,231 ¥ (22,186 ) ¥ (24,476 ) ¥ (20,101 ) ¥ 92,705 ¥ 304 Japanese prefectural and foreign municipal bond securities 0 0 (7 ) (7 ) 0 0 0 3,305 3,298 0 Corporate debt securities 3,037 0 5 5 0 0 (685 ) 0 2,357 0 CMBS and RMBS in the Americas 36,010 1,034 546 1,580 1,304 (6,711 ) (8,777 ) (23,406 ) 0 0 Other asset-backed securities and debt securities 81,870 998 (256 ) 742 34,927 (15,475 ) (15,014 ) 0 87,050 304 Equity securities 37,879 1,957 523 2,480 34,613 (18,352 ) 0 0 56,620 1,685 Investment funds 37,879 1,957 523 2,480 34,613 (18,352 ) 0 0 56,620 1,685 Derivative assets and liabilities (net) 2,291 (1,377 ) 0 (1,377 ) 1,673 0 (1,198 ) 0 1,389 (1,377 ) Options held/written and other 2,291 (1,377 ) 0 (1,377 ) 1,673 0 (1,198 ) 0 1,389 (1,377 ) Other asset 15,008 480 0 480 2,800 0 (486 ) 0 17,802 480 Reinsurance recoverables *5 15,008 480 0 480 2,800 0 (486 ) 0 17,802 480 Policy Liabilities and Policy Account Balances 444,010 18,993 422 19,415 0 0 (62,522 ) 0 362,073 18,993 Variable annuity and variable life insurance contracts *6 444,010 18,993 422 19,415 0 0 (62,522 ) 0 362,073 18,993 Nine months ended December 31, 2019 Millions of yen Balance at April 1, 2019 Gains or losses (realized/unrealized) Purchases *3 Sales Settlements *4 Transfers in and/ or out of Level 3 (net) Balance at December 31, 2019 Change in unrealized gains or losses included in earnings for assets and liabilities still held at December 31, 2019 *1 Included in earnings *1 Included in other comprehensive income *2 Total Available-for-sale ¥ 100,447 ¥ 1,339 ¥ (1,023 ) ¥ 316 ¥ 33,606 ¥ (3,425 ) ¥ (26,987 ) ¥ (2,991 ) ¥ 100,966 ¥ 213 Japanese prefectural and foreign municipal bond securities 2,888 0 (37 ) (37 ) 0 0 0 0 2,851 0 Corporate debt securities 7,158 0 (9 ) (9 ) 900 0 (842 ) (2,991 ) 4,216 0 Other asset-backed securities and debt securities 90,401 1,339 (977 ) 362 32,706 (3,425 ) (26,145 ) 0 93,899 213 Equity securities 61,193 5,594 (131 ) 5,463 10,075 (5,760 ) (4,789 ) 0 66,182 5,532 Investment funds 61,193 5,594 (131 ) 5,463 10,075 (5,760 ) (4,789 ) 0 66,182 5,532 Derivative assets and liabilities (net) 5,272 5,238 (93 ) 5,145 0 0 0 0 10,417 5,238 Options held/written and other 5,272 5,238 (93 ) 5,145 0 0 0 0 10,417 5,238 Other asset 12,449 (5,355 ) 0 (5,355 ) 2,303 0 (178 ) 0 9,219 (5,355 ) Reinsurance recoverables *5 12,449 (5,355 ) 0 (5,355 ) 2,303 0 (178 ) 0 9,219 (5,355 ) Policy Liabilities and Policy Account Balances 360,198 (12,426 ) 189 (12,237 ) 0 0 (39,418 ) 0 333,017 (12,426 ) Variable annuity and variable life insurance contracts *6 360,198 (12,426 ) 189 (12,237 ) 0 0 (39,418 ) 0 333,017 (12,426 ) |
Recorded Amounts of Major Assets Measured at Fair Value on Nonrecurring Basis | The following tables present recorded amounts of assets measured at fair value on a nonrecurring basis during year ended March 31, 2019 and the nine months ended December 31, 2019. These assets are measured at fair value on a nonrecurring basis mainly to recognize impairment: Year ended March 31, 2019 Millions of yen Total Carrying Value in Consolidated Balance Sheets Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Loans held for sale ¥ 3,839 ¥ 0 ¥ 3,839 ¥ 0 Real estate collateral-dependent loans (net of allowance for probable loan losses) 6,630 0 0 6,630 Investment in operating leases and property under facility operations 12,901 0 0 12,901 Certain investments in affiliates 2,897 0 0 2,897 ¥ 26,267 ¥ 0 ¥ 3,839 ¥ 22,428 Nine months ended December 31, 2019 Millions of yen Total Carrying Value in Consolidated Balance Sheets Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Real estate collateral-dependent loans (net of allowance for probable loan losses) ¥ 4,494 ¥ 0 ¥ 0 ¥ 4,494 Investment in operating leases and property under facility operations 4,462 0 712 3,750 Certain investments in affiliates 1,561 0 0 1,561 ¥ 10,517 ¥ 0 ¥ 712 ¥ 9,805 |
Information about Valuation Techniques and Significant Unobservable Inputs Used in Valuation of Level Three Assets and Liabilities Measured at Fair Value on Recurring Basis | The following tables provide information about the valuation techniques and significant unobservable inputs used in the valuation of Level 3 assets and liabilities measured at fair value on a recurring basis as of March 31, 2019 and December 31, 2019. March 31, 2019 Millions of yen Fair value Valuation technique(s) Significant unobservable inputs Range (Weighted average) Assets: Available-for-sale Japanese prefectural and foreign municipal bond securities ¥ 2,888 Discounted cash flows Discount rate 8.5% (8.5%) Corporate debt securities 2,162 Discounted cash flows Discount rate 0.1% – 1.3% (0.8%) 4,996 Appraisals/Broker quotes — — Other asset-backed securities and debt securities 23,651 Discounted cash flows Discount rate 0.2% – 51.2% (8.3%) Probability of default 0.6% – 1.6% (0.8%) 66,750 Appraisals/Broker quotes — — Equity securities: Investment funds 6,012 Internal cash flows Discount rate 0.0% – 65.0% (11.3%) 32,702 Discounted cash flows Discount rate 3.8% – 17.0% (14.1%) 22,479 Appraisals/Broker quotes — — Derivative assets: Options held/written and other 5,005 Discounted cash flows Discount rate 0.0% – 15.0% (8.6%) 267 Appraisals/Broker quotes — — Other assets: Reinsurance recoverables 12,449 Discounted cash flows Discount rate (0.1)% – 0.4% (0.1%) Mortality rate 0.0% – 100.0% (1.3%) Lapse rate 1.5% – 24.0% (16.2%) Annuitization rate (guaranteed minimum annuity benefit) 0.0% – 100.0% (99.9%) Total ¥ 179,361 Liabilities: Policy liabilities and Policy Account Balances: Variable annuity and variable life insurance contracts ¥ 360,198 Discounted cash flows Discount rate (0.1)% – 0.4% (0.1%) Mortality rate 0.0% – 100.0% (1.3%) Lapse rate 1.5% – 54.0% (16.0%) Annuitization rate (guaranteed minimum annuity benefit) 0.0% – 100.0% (80.3%) Total ¥ 360,198 |
Information about Valuation Techniques and Significant Unobservable Inputs Used in Valuation of Level Three Assets Measured at Fair Value on Nonrecurring Basis | The following tables provide information about the valuation techniques and significant unobservable inputs used in the valuation of Level 3 assets measured at fair value on a nonrecurring basis during year ended March 31, 2019 and the nine months ended December 31, 2019. Year ended March 31, 2019 Millions of yen Fair value Valuation technique(s) Significant unobservable inputs Range (Weighted average) Assets: Real estate collateral-dependent loans (net of allowance for probable loan losses) ¥ 6,630 Direct capitalization Capitalization rate 5.8% – 8.2% (6.3%) Appraisals — — Investment in operating leases and property under facility operations 2,345 Discounted cash flows Discount rate 7.3% (7.3%) 10,556 Appraisals — — Certain investments in affiliates 334 Business enterprise value multiples — — Discounted cash flows Discount rate 14.0% (14.0%) 2,563 Appraisals — — ¥ 22,428 Nine months ended December 31, 2019 Millions of yen Fair value Valuation technique(s) Significant unobservable inputs Range (Weighted average) Assets: Real estate collateral-dependent loans (net of allowance for probable loan losses) ¥ 4,494 Direct capitalization Capitalization rate 5.6% – 6.6% (6.1%) Appraisals — — Investment in operating leases and property under facility operations 3,750 Appraisals — — Certain investments in affiliates 1,561 Appraisals — — ¥ 9,805 |
Revenues from Contracts with _2
Revenues from Contracts with Customers (Tables) | 9 Months Ended |
Dec. 31, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Summary of Revenue from Contract with Customers and Other Sources of Revenue | The following table provides information about revenues from contracts with customers, and other sources of revenue for the nine and three months ended December 31, 2018 and 2019 are as follows; Millions of yen Millions of yen Nine months ended December 31, 2018 Nine months ended December 31, 2019 Revenues from contracts with customers ¥ 1,052,813 ¥ 866,201 Other revenues * 743,342 818,178 Total revenues ¥ 1,796,155 ¥ 1,684,379 Millions of yen Millions of yen Three months ended December 31, 2018 Three months ended December 31, 2019 Revenues from contracts with customers ¥ 325,457 ¥ 289,145 Other revenues * 208,684 282,556 Total revenues ¥ 534,141 ¥ 571,701 * Other revenues are not in the scope of revenue from contracts with customers, such as life insurance premiums and related investment income, operating leases, finance revenues that include interest income, and others. |
Summary of Balances from Contracts with Customers | The following table provides information about balances from contracts with customers as of March 31, 2019 and December 31, 2019. Millions of yen March 31, 2019 December 31, 2019 Trade Notes, Accounts and Other Receivable ¥ 161,884 ¥ 166,573 Contract assets (Included in Other Assets) 2,277 6,573 Contract liabilities (Included in Other Liabilities) 45,371 31,228 |
Leases (Table)
Leases (Table) | 9 Months Ended |
Dec. 31, 2019 | |
Leases [Abstract] | |
Lease Income | Lease income for the nine and three months ended December 31, 2019 are as follows: Millions of yen Nine months ended December 31, 2019 Lease income—net investment in leases Interest income ¥ 41,028 Other 1,601 Lease income—operating leases * 303,148 Total lease income ¥ 345,777 * Gains from the disposition of real estate under operating leases included in operating lease revenues are ¥23,044 million, and gains from the disposition of operating lease assets other than real estate included in operating lease revenues are ¥14,234 million for the nine months ended December 31 Millions of yen Three months ended December 31, 2019 Lease income—net investment in leases Interest income ¥ 14,020 Other 511 Lease income—operating leases * 100,743 Total lease income ¥ 115,274 * Gains from the disposition of real estate under operating leases included in operating lease revenues are ¥4,636 million, and gains from the disposition of operating lease assets other than real estate included in operating lease revenues are ¥6,047 million for the three months ended December 31 |
Net investment in lease direct financing and sales type | Net investment in leases at December 31, 2019 consists of the following: Millions of yen December 31, 2019 Lease receivables ¥ 1,108,611 Unguaranteed residual value 29,325 Initial direct costs 4,403 Total ¥ 1,142,339 |
Investment in Operating Leases | Investment in operating leases at December 31, 2019 consists of the following: Millions of yen December 31, 2019 Transportation equipment ¥ 1,386,422 Measuring and information-related equipment 278,294 Real estate 305,842 Other 31,593 2,002,151 Accumulated depreciation (659,318 ) Net 1,342,833 Right-of-use 128,951 Accrued rental receivables 33,469 Total ¥ 1,505,253 |
Depreciation and Various Expenses (Insurance, Property Tax and Other) of Operating Lease | Costs of operating leases include depreciation and various expenses (insurance, property tax and other). Depreciation and various expenses for the nine and three months ended December 31, 2019 are as follows: Millions of yen Nine months ended December 31, 2019 Depreciation expenses ¥ 155,668 Various expenses 41,641 Total ¥ 197,309 Millions of yen Three months ended December 31, 2019 Depreciation expenses ¥ 52,714 Various expenses 13,674 Total ¥ 66,388 |
Lease Receivables of the Operating Lease Contracts | Remaining lease receivables of the operating lease contracts range up to 61 Millions of yen Years ending December 31, Net investment in leases Operating leases 2020 ¥ 455,576 ¥ 289,678 2021 307,960 200,061 2022 205,011 138,467 2023 121,870 2024 68,358 55,608 Thereafter 86,125 149,596 Total lease payments 1,244,900 ¥ 925,321 Less imputed interest (136,289 ) Total lease receivables ¥ 1,108,611 |
Component of Lease Expense | The component of lease expense for the nine and three months ended December 31, 2019 are as follows: Millions of yen Nine months ended December 31, 2019 Finance lease cost Depreciation expenses of right-of-use ¥ 667 Interest expenses of lease liabilities 267 934 Operating lease cost 31,791 Short-term lease cost 2,019 Variable lease cost 920 Sublease income (2,828 ) Total ¥ 32,836 Millions of yen Three months ended December 31, 2019 Finance lease cost Depreciation expenses of right-of-use ¥ 212 Interest expenses of lease liabilities 36 248 Operating lease cost 10,473 Short-term lease cost 717 Variable lease cost 375 Sublease income (708 ) Total ¥ 11,105 |
Cash Flow Information Related To Lease | Supplemental cash flow information related to leases for the nine months ended December 31, 2019 are as follows: Millions of yen Nine months ended December 31, 2019 Finance leases Operating leases Cash paid for amounts included in the measurements of lease liabilities: Cash flows from operating activities ¥ 267 ¥ 33,685 Cash flows from financing activities 409 0 Right-of-use ¥ 531 ¥ 29,800 |
Balance Sheet Information Related to Lessee Leases | Supplemental balance sheet information related to lessee leases at December 31, 2019 are as follows: Millions of yen, except lease term and discount rate December 31, 2019 Finance leases Operating leases Investment in Operating Leases ¥ 0 ¥ 128,951 Property under Facility Operations 2,299 69,719 Office Facilities 9 75,816 Total right-of-use 2,308 274,486 Other Liabilities 2,914 271,093 Total lease liabilities ¥ 2,914 ¥ 271,093 Weighted average remaining lease term 9years 14years Weighted average discount rate 3.02 % 1.15 % |
Operating And Finance Lease Liability Maturity | At December 31, 2019, the amounts of lease liabilities related to lessee leases due in each of the next five years and thereafter are as follows: Millions of yen Years ending December 31, Finance leases Operating leases 2020 ¥ 487 ¥ 45,643 2021 484 32,221 2022 482 28,155 2023 477 25,500 2024 473 21,481 Thereafter 963 138,354 Total lease payments 3,366 291,354 Less imputed interest (452 ) (20,261 ) Total lease liabilities ¥ 2,914 ¥ 271,093 |
Credit Quality of Financing R_2
Credit Quality of Financing Receivables and the Allowance for Credit Losses (Tables) | 9 Months Ended |
Dec. 31, 2019 | |
Information about Allowance for Credit Losses | The following table provides information about the allowance for credit losses as of March 31, 2019, for the nine and three months ended December 31, 2018 and 2019: Nine months ended December 31, 2018 Millions of yen Loans Finance leases Total Consumer Corporate Purchased loans *1 Non-recourse loans Other Allowance for credit losses : Beginning balance ¥ 21,196 ¥ 688 ¥ 18,407 ¥ 4,292 ¥ 10,089 ¥ 54,672 Provision (Reversal) 9,129 (13 ) 2,418 (241 ) 2,782 14,075 Charge-offs (7,867 ) 0 (2,692 ) (358 ) (1,671 ) (12,588 ) Recoveries 465 0 196 102 141 904 Other *2 (16 ) 18 346 2 (70 ) 280 Ending balance ¥ 22,907 ¥ 693 ¥ 18,675 ¥ 3,797 ¥ 11,271 ¥ 57,343 Individually evaluated for impairment 3,349 47 6,985 2,406 0 12,787 Not individually evaluated for impairment 19,558 646 11,690 1,391 11,271 44,556 Financing receivables : Ending balance ¥ 1,856,623 ¥ 89,084 ¥ 1,166,032 ¥ 16,756 ¥ 1,165,792 ¥ 4,294,287 Individually evaluated for impairment 22,793 3,232 24,215 4,176 0 54,416 Not individually evaluated for impairment 1,833,830 85,852 1,141,817 12,580 1,165,792 4,239,871 Three months ended December 31, 2018 Millions of yen Loans Finance leases Total Consumer Corporate Purchased loans *1 Non-recourse loans Other Allowance for credit losses : Beginning balance ¥ 22,060 ¥ 627 ¥ 18,409 ¥ 3,905 ¥ 10,839 ¥ 55,840 Provision (Reversal) 3,390 74 1,426 (55 ) 1,030 5,865 Charge-offs (2,727 ) 0 (931 ) (54 ) (496 ) (4,208 ) Recoveries 178 0 48 6 21 253 Other *2 6 (8 ) (277 ) (5 ) (123 ) (407 ) Ending balance ¥ 22,907 ¥ 693 ¥ 18,675 ¥ 3,797 ¥ 11,271 ¥ 57,343 March 31, 2019 Millions of yen Loans Finance leases Total Consumer Corporate Purchased loans *1 Non-recourse loans Other Allowance for credit losses : Ending balance ¥ 21,195 ¥ 919 ¥ 20,662 ¥ 3,186 ¥ 12,049 ¥ 58,011 Individually evaluated for impairment 3,372 166 8,276 1,917 0 13,731 Not individually evaluated for impairment 17,823 753 12,386 1,269 12,049 44,280 Financing receivables : Ending balance ¥ 1,906,022 ¥ 99,028 ¥ 1,201,893 ¥ 16,416 ¥ 1,155,632 ¥ 4,378,991 Individually evaluated for impairment 23,163 4,448 27,452 3,764 0 58,827 Not individually evaluated for impairment 1,882,859 94,580 1,174,441 12,652 1,155,632 4,320,164 Nine months ended December 31, 2019 Millions of yen Loans Finance leases Total Consumer Corporate Purchased loans *1 Non-recourse loans Other Allowance for credit losses : Beginning balance ¥ 21,195 ¥ 919 ¥ 20,662 ¥ 3,186 ¥ 12,049 ¥ 58,011 Provision (Reversal) 9,931 353 3,240 (133 ) 2,333 15,724 Charge-offs (9,360 ) (1 ) (5,046 ) (470 ) (1,937 ) (16,814 ) Recoveries 419 0 142 48 23 632 Other *3 (26 ) (6 ) (609 ) 11 (1 ) (631 ) Ending balance ¥ 22,159 ¥ 1,265 ¥ 18,389 ¥ 2,642 ¥ 12,467 ¥ 56,922 Individually evaluated for impairment 3,528 229 6,009 1,488 0 11,254 Not individually evaluated for impairment 18,631 1,036 12,380 1,154 12,467 45,668 Financing receivables : Ending balance ¥ 2,126,058 ¥ 143,103 ¥ 1,251,329 ¥ 14,806 ¥ 1,142,339 ¥ 4,677,635 Individually evaluated for impairment 26,147 2,516 38,119 2,998 0 69,780 Not individually evaluated for impairment 2,099,911 140,587 1,213,210 11,808 1,142,339 4,607,855 Three months ended December 31, 2019 Millions of yen Loans Finance leases Total Consumer Corporate Purchased loans *1 Non-recourse loans Other Allowance for credit losses : Beginning balance ¥ 21,789 ¥ 1,055 ¥ 17,333 ¥ 2,760 ¥ 12,236 ¥ 55,173 Provision (Reversal) 2,956 192 1,499 (55 ) 559 5,151 Charge-offs (2,740 ) 0 (687 ) (107 ) (599 ) (4,133 ) Recoveries 146 0 45 28 13 232 Other *3 8 18 199 16 258 499 Ending balance ¥ 22,159 ¥ 1,265 ¥ 18,389 ¥ 2,642 ¥ 12,467 ¥ 56,922 Note: Loans held for sale are not included in the table above. *1 Purchased loans represent loans with evidence of deterioration of credit quality since origination and for which it is probable at acquisition that collection of all contractually required payments from the debtors is unlikely. *2 Other mainly includes foreign currency translation adjustments. *3 Other mainly includes foreign currency translation adjustments and a decrease in allowance related to a sale of a subsidiary. |
Information about Impaired Loans | The following table provides information about the impaired loans as of March 31, 2019 and December 31, 2019: March 31, 2019 Millions of yen Portfolio segment Class Loans individually evaluated for impairment Unpaid principal balance Related allowance With no related allowance recorded *1 ¥ 17,593 ¥ 17,521 ¥ 0 Consumer borrowers 1,158 1,111 0 Housing loans 589 542 0 Card loans 0 0 0 Other 569 569 0 Corporate borrowers 16,329 16,304 0 Non-recourse Japan 232 232 0 The Americas 3,404 3,404 0 Other Real estate companies 887 887 0 Entertainment companies 0 0 0 Other 11,806 11,781 0 Purchased loans 106 106 0 With an allowance recorded *2 41,234 40,234 13,731 Consumer borrowers 22,005 21,401 3,372 Housing loans 3,845 3,639 835 Card loans 3,945 3,937 633 Other 14,215 13,825 1,904 Corporate borrowers 15,571 15,175 8,442 Non-recourse Japan 0 0 0 The Americas 812 812 166 Other Real estate companies 1,493 1,480 419 Entertainment companies 1,382 1,374 490 Other 11,884 11,509 7,367 Purchased loans 3,658 3,658 1,917 Total ¥ 58,827 ¥ 57,755 ¥ 13,731 Consumer borrowers 23,163 22,512 3,372 Housing loans 4,434 4,181 835 Card loans 3,945 3,937 633 Other 14,784 14,394 1,904 Corporate borrowers 31,900 31,479 8,442 Non-recourse Japan 232 232 0 The Americas 4,216 4,216 166 Other Real estate companies 2,380 2,367 419 Entertainment companies 1,382 1,374 490 Other 23,690 23,290 7,367 Purchased loans 3,764 3,764 1,917 December 31, 2019 Millions of yen Portfolio segment Class Loans individually evaluated for impairment Unpaid principal balance Related allowance With no related allowance recorded *1 ¥ 30,813 ¥ 30,811 ¥ 0 Consumer borrowers 1,088 1,086 0 Housing loans 682 680 0 Card loans 0 0 0 Other 406 406 0 Corporate borrowers 29,616 29,616 0 Non-recourse The Americas 1,751 1,751 0 Other Real estate companies 14,009 14,009 0 Entertainment companies 31 31 0 Other 13,825 13,825 0 Purchased loans 109 109 0 With an allowance recorded *2 38,967 38,507 11,254 Consumer borrowers 25,059 24,740 3,528 Housing loans 5,301 5,285 802 Card loans 3,914 3,906 625 Other 15,844 15,549 2,101 Corporate borrowers 11,019 10,878 6,238 Non-recourse The Americas 765 765 229 Other Real estate companies 1,173 1,160 373 Entertainment companies 453 452 109 Other 8,628 8,501 5,527 Purchased loans 2,889 2,889 1,488 Total ¥ 69,780 ¥ 69,318 ¥ 11,254 Consumer borrowers 26,147 25,826 3,528 Housing loans 5,983 5,965 802 Card loans 3,914 3,906 625 Other 16,250 15,955 2,101 Corporate borrowers 40,635 40,494 6,238 Non-recourse The Americas 2,516 2,516 229 Other Real estate companies 15,182 15,169 373 Entertainment companies 484 483 109 Other 22,453 22,326 5,527 Purchased loans 2,998 2,998 1,488 Note: Loans held for sale are not included in the table above. *1 “With no related allowance recorded” represents impaired loans with no allowance for credit losses as all amounts are considered to be collectible. *2 “With an allowance recorded” represents impaired loans with the allowance for credit losses as all or a part of the amounts are not considered to be collectible. |
Information about Average Recorded Investments in Impaired Loans and Interest Income | The following table provides information about the average recorded investments in impaired loans and interest income on impaired loans for the nine and three months ended December 31, 2018 and 2019: Nine months ended December 31, 2018 Millions of yen Portfolio segment Class Average recorded investments in impaired loans * Interest income on impaired loans Interest on impaired loans collected in cash Consumer borrowers ¥ 20,526 ¥ 299 ¥ 270 Housing loans 4,121 105 103 Card loans 4,029 46 40 Other 12,376 148 127 Corporate borrowers 24,493 248 237 Non-recourse Japan 249 4 4 The Americas 2,607 0 0 Other Real estate companies 2,490 26 26 Entertainment companies 1,536 29 23 Other 17,611 189 184 Purchased loans 4,761 42 41 Total ¥ 49,780 ¥ 589 ¥ 548 Nine months ended December 31, 2019 Millions of yen Portfolio segment Class Average recorded investments in impaired loans * Interest income on impaired loans Interest on impaired loans collected in cash Consumer borrowers ¥ 24,268 ¥ 341 ¥ 300 Housing loans 4,906 109 105 Card loans 3,924 44 38 Other 15,438 188 157 Corporate borrowers 31,962 106 104 Non-recourse Japan 172 2 2 The Americas 3,077 0 0 Other Real estate companies 5,260 25 25 Entertainment companies 940 18 18 Other 22,513 61 59 Purchased loans 3,484 139 139 Total ¥ 59,714 ¥ 586 ¥ 543 Three months ended December 31, 2018 Millions of yen Portfolio segment Class Average recorded investments in impaired loans * Interest income on impaired loans Interest on impaired loans collected in cash Consumer borrowers ¥ 22,433 ¥ 78 ¥ 78 Housing loans 4,561 16 16 Card loans 4,003 14 14 Other 13,869 48 48 Corporate borrowers 27,695 26 26 Non-recourse Japan 242 0 0 The Americas 2,173 0 0 Other Real estate companies 2,417 8 8 Entertainment companies 1,472 5 5 Other 21,391 13 13 Purchased loans 4,311 10 10 Total ¥ 54,439 ¥ 114 ¥ 114 Three months ended December 31, 2019 Millions of yen Portfolio segment Class Average recorded investments in impaired loans * Interest income on impaired loans Interest on impaired loans collected in cash Consumer borrowers ¥ 25,781 ¥ 106 ¥ 100 Housing loans 5,840 34 32 Card loans 3,908 13 13 Other 16,033 59 55 Corporate borrowers 33,618 54 54 Non-recourse Japan 111 0 0 The Americas 2,495 0 0 Other Real estate companies 8,312 6 6 Entertainment companies 499 4 4 Other 22,201 44 44 Purchased loans 3,110 53 53 Total ¥ 62,509 ¥ 213 ¥ 207 Note: Loans held for sale are not included in the table above. * Average balances are calculated on the basis of fiscal beginning and quarter-end |
Information about Credit Quality Indicators | The following table provides information about the credit quality indicators as of March 31, 2019 and December 31, 2019: March 31, 2019 Millions of yen Non-performing Portfolio segment Class Performing Loans individually evaluated for impairment 90+ days past-due loans not individually evaluated for impairment Subtotal Total Consumer borrowers ¥ 1,870,447 ¥ 23,163 ¥ 12,412 ¥ 35,575 ¥ 1,906,022 Housing loans 1,593,005 4,434 1,388 5,822 1,598,827 Card loans 239,523 3,945 1,671 5,616 245,139 Other 37,919 14,784 9,353 24,137 62,056 Corporate borrowers 1,269,021 31,900 0 31,900 1,300,921 Non-recourse Japan 48,881 232 0 232 49,113 The Americas 45,699 4,216 0 4,216 49,915 Other Real estate companies 352,669 2,380 0 2,380 355,049 Entertainment companies 64,665 1,382 0 1,382 66,047 Other 757,107 23,690 0 23,690 780,797 Purchased loans 12,652 3,764 0 3,764 16,416 Finance leases 1,140,825 0 14,807 14,807 1,155,632 Japan 787,081 0 6,158 6,158 793,239 Overseas 353,744 0 8,649 8,649 362,393 Total ¥ 4,292,945 ¥ 58,827 ¥ 27,219 ¥ 86,046 ¥ 4,378,991 December 31, 2019 Millions of yen Non-performing Portfolio segment Class Performing Loans individually evaluated for impairment 90+ days past-due loans not individually evaluated for impairment Subtotal Total Consumer borrowers ¥ 2,087,663 ¥ 26,147 ¥ 12,248 ¥ 38,395 ¥ 2,126,058 Housing loans 1,832,996 5,983 1,665 7,648 1,840,644 Card loans 220,801 3,914 1,506 5,420 226,221 Other 33,866 16,250 9,077 25,327 59,193 Corporate borrowers 1,353,797 40,635 0 40,635 1,394,432 Non-recourse Japan 72,597 0 0 0 72,597 The Americas 67,990 2,516 0 2,516 70,506 Other Real estate companies 371,534 15,182 0 15,182 386,716 Entertainment companies 62,470 484 0 484 62,954 Other 779,206 22,453 0 22,453 801,659 Purchased loans 11,808 2,998 0 2,998 14,806 Finance leases 1,126,844 0 15,495 15,495 1,142,339 Japan 765,613 0 6,084 6,084 771,697 Overseas 361,231 0 9,411 9,411 370,642 Total ¥ 4,580,112 ¥ 69,780 ¥ 27,743 ¥ 97,523 ¥ 4,677,635 |
Information about Nonaccrual and Past Due Financing Receivables | The following table provides information about the non-accrual past-due March 31, 2019 Millions of yen Past-due Portfolio segment Class 30-89 days past-due 90 days or more past-due Total past-due Total financing receivables Non-accrual Consumer borrowers ¥ 5,783 ¥ 15,647 ¥ 21,430 ¥ 1,906,022 ¥ 15,647 Housing loans 1,721 2,654 4,375 1,598,827 2,654 Card loans 548 2,127 2,675 245,139 2,127 Other 3,514 10,866 14,380 62,056 10,866 Corporate borrowers 4,960 13,753 18,713 1,300,921 27,979 Non-recourse Japan 0 0 0 49,113 0 The Americas 2,925 2,457 5,382 49,915 3,818 Other Real estate companies 2 552 554 355,049 1,392 Entertainment companies 0 663 663 66,047 663 Other 2,033 10,081 12,114 780,797 22,106 Finance leases 7,181 14,807 21,988 1,155,632 14,807 Japan 679 6,158 6,837 793,239 6,158 Overseas 6,502 8,649 15,151 362,393 8,649 Total ¥ 17,924 ¥ 44,207 ¥ 62,131 ¥ 4,362,575 ¥ 58,433 December 31, 2019 Millions of yen Past-due Portfolio segment Class 30-89 past-due 90 days or more past-due Total past-due Total financing receivables Non-accrual Consumer borrowers ¥ 5,817 ¥ 15,413 ¥ 21,230 ¥ 2,126,058 ¥ 15,413 Housing loans 1,826 2,657 4,483 1,840,644 2,657 Card loans 515 1,946 2,461 226,221 1,946 Other 3,476 10,810 14,286 59,193 10,810 Corporate borrowers 3,866 28,038 31,904 1,394,432 37,913 Non-recourse Japan 0 0 0 72,597 0 The Americas 142 2,516 2,658 70,506 2,516 Other Real estate companies 74 14,263 14,337 386,716 14,368 Entertainment companies 0 24 24 62,954 24 Other 3,650 11,235 14,885 801,659 21,005 Finance leases 6,413 15,495 21,908 1,142,339 15,495 Japan 700 6,084 6,784 771,697 6,084 Overseas 5,713 9,411 15,124 370,642 9,411 Total ¥ 16,096 ¥ 58,946 ¥ 75,042 ¥ 4,662,829 ¥ 68,821 |
Information about Troubled Debt Restructurings of Financing Receivables | The following table provides information about troubled debt restructurings of financing receivables that occurred during the nine and three months ended December 31, 2018 and 2019: Nine months ended December 31, 2018 Millions of yen Portfolio segment Class Pre-modification outstanding recorded investment Post-modification outstanding recorded investment Consumer borrowers ¥ 9,873 ¥ 6,876 Housing loans 61 30 Card loans 1,624 1,055 Other 8,188 5,791 Corporate borrowers 6,002 6,001 Other Other 6,002 6,001 Total ¥ 15,875 ¥ 12,877 Nine months ended December 31, 2019 Millions of yen Portfolio segment Class Pre-modification outstanding recorded investment Post-modification outstanding recorded investment Consumer borrowers ¥ 9,187 ¥ 6,935 Housing loans 16 14 Card loans 1,422 1,052 Other 7,749 5,869 Corporate borrowers 4,196 4,196 Non-recourse The Americas 340 340 Other Other 3,856 3,856 Total ¥ 13,383 ¥ 11,131 Three months ended December 31, 2018 Millions of yen Portfolio segment Class Pre-modification outstanding recorded investment Post-modification outstanding recorded investment Consumer borrowers ¥ 3,961 ¥ 2,832 Housing loans 10 5 Card loans 552 363 Other 3,399 2,464 Corporate borrowers 2,141 2,141 Other Other 2,141 2,141 Total ¥ 6,102 ¥ 4,973 Three months ended December 31, 2019 Millions of yen Portfolio segment Class Pre-modification outstanding recorded investment Post-modification outstanding recorded investment Consumer borrowers ¥ 3,079 ¥ 2,301 Card loans 477 364 Other 2,602 1,937 Corporate borrowers 1,749 1,749 Non-recourse The Americas 340 340 Other Other 1,409 1,409 Total ¥ 4,828 ¥ 4,050 The following table provides information about financing receivables modified as troubled debt restructurings within the previous 12 months from December 31, 2018 and for which there was a payment default during the nine and three months ended December 31, 2018: Nine months ended December 31, 2018 Millions of yen Portfolio segment Class Recorded investment Consumer borrowers ¥ 1,380 Card loans 23 Other 1,357 Total ¥ 1,380 Three months ended December 31, 2018 Millions of yen Portfolio segment Class Recorded investment Consumer borrowers ¥ 933 Card loans 20 Other 913 Total ¥ 933 The following table provides information about financing receivables modified as troubled debt restructurings within the previous 12 months from December 31, 2019 and for which there was a payment default during the nine and three months ended December 31, 2019: Nine months ended December 31, 2019 Millions of yen Portfolio segment Class Recorded investment Consumer borrowers ¥ 1,497 Card loans 7 Other 1,490 Consumer borrowers 127 Other Other 127 Total ¥ 1,624 Three months ended December 31, 2019 Millions of yen Portfolio segment Class Recorded investment Consumer borrowers ¥ 444 Card loans 4 Other 440 Corporate borrowers 127 Other Other 127 Total ¥ 571 |
Investment in Securities (Table
Investment in Securities (Tables) | 9 Months Ended |
Dec. 31, 2019 | |
Investments Schedule [Abstract] | |
Summary of Investment in Securities | Investment in securities as of March 31, 2019 and December 31, 2019 consists of the following: Millions of yen March 31, 2019 December 31, 2019 Equity securities * ¥ 549,047 ¥ 537,004 Trading debt securities 1,564 1,371 Available-for-sale 1,264,244 1,576,349 Held-to-maturity 114,061 113,880 Total ¥ 1,928,916 ¥ 2,228,604 * The amount of assets under management of variable annuity and variable life insurance contracts included in equity securities were ¥324,220 million and ¥306,524 million as of March 31, 2019 and December 31, 2019, respectively. The amount of investment funds that are accounted for under the equity method included in equity securities were ¥75,923 million and ¥70,556 million as of March 31, 2019 and December 31, 2019, respectively. The amount of investment funds elected for the fair value option included in equity securities were ¥5,811 million and ¥5,997 million as of March 31, 2019 and December 31, 2019, respectively. |
Summary of Impairment and Downward or Upward Adjustment Due to Changes of Observable Price | The following tables provide information about impairment and upward or downward adjustments resulting from observable price changes as of March 31, 2019 and December 31, 2019, and for the nine and three months ended December 31, 2018 and 2019. Millions of yen March 31, 2019 Nine months ended December 31, 2018 Three months ended December 31, 2018 Carrying Accumulated Accumulated Impairments Upward Impairments Upward Equity securities measured using the measurement alternative ¥ 35,431 ¥ (1,688 ) ¥ 18 ¥ (151 ) ¥ 0 ¥ 0 ¥ 0 Millions of yen December 31, 2019 Nine months ended December 31, 2019 Three months ended December 31, 2019 Carrying Accumulated Accumulated Impairments Upward Impairments Upward Equity securities measured using the measurement alternative ¥ 37,137 ¥ (1,495 ) ¥ 61 ¥ (38 ) ¥ 43 ¥ 0 ¥ 5 |
Amortized Cost Basis Amounts, Gross Unrealized Holding Gains, Gross Unrealized Holding Losses and Fair Values of Available-for-Sale Securities and Held-to-Maturity Securities in Each Major Security Type | The amortized cost basis amounts, gross unrealized holding gains, gross unrealized holding losses and fair values of available-for-sale held-to-maturity March 31, 2019 Millions of yen Amortized cost Gross unrealized gains Gross unrealized losses Fair value Available-for-sale Japanese and foreign government bond securities ¥ 416,218 ¥ 20,133 ¥ (5,500 ) ¥ 430,851 Japanese prefectural and foreign municipal bond securities 189,792 3,749 (236 ) 193,305 Corporate debt securities 485,156 5,205 (2,364 ) 487,997 CMBS and RMBS in the Americas 59,954 2,566 (1,041 ) 61,479 Other asset-backed securities and debt securities 88,620 3,381 (1,389 ) 90,612 1,239,740 35,034 (10,530 ) 1,264,244 Held-to-maturity Japanese government bond securities and other 114,061 30,265 0 144,326 ¥ 1,353,801 ¥ 65,299 ¥ (10,530 ) ¥ 1,408,570 December 31, 2019 Millions of yen Amortized cost Gross unrealized gains Gross unrealized losses Fair value Available-for-sale Japanese and foreign government bond securities ¥ 578,705 ¥ 21,685 ¥ (9,155 ) ¥ 591,235 Japanese prefectural and foreign municipal bond securities 234,273 4,639 (624 ) 238,288 Corporate debt securities 588,853 9,187 (3,285 ) 594,755 CMBS and RMBS in the Americas 56,764 2,538 (1,340 ) 57,962 Other asset-backed securities and debt securities 92,338 3,369 (1,598 ) 94,109 1,550,933 41,418 (16,002 ) 1,576,349 Held-to-maturity Japanese government bond securities and other 113,880 30,642 0 144,522 ¥ 1,664,813 ¥ 72,060 ¥ (16,002 ) ¥ 1,720,871 |
Information about Available-for-Sale Securities with Gross Unrealized Losses and Length of Time Individual Securities Have Been in Continuous Unrealized Loss Position | The following tables provide information about available-for-sale March 31, 2019 Millions of yen Less than 12 months 12 months or more Total Fair value Gross unrealized losses Fair value Gross unrealized losses Fair value Gross unrealized losses Available-for-sale Japanese and foreign government bond securities ¥ 51,551 ¥ (1,119 ) ¥ 98,830 ¥ (4,381 ) ¥ 150,381 ¥ (5,500 ) Japanese prefectural and foreign municipal bond securities 1,329 (35 ) 4,510 (201 ) 5,839 (236 ) Corporate debt securities 9,156 (18 ) 68,924 (2,346 ) 78,080 (2,364 ) CMBS and RMBS in the Americas 10,194 (362 ) 7,147 (679 ) 17,341 (1,041 ) Other asset-backed securities and debt securities 10,253 (411 ) 28,748 (978 ) 39,001 (1,389 ) ¥ 82,483 ¥ (1,945 ) ¥ 208,159 ¥ (8,585 ) ¥ 290,642 ¥ (10,530 ) December 31, 2019 Millions of yen Less than 12 months 12 months or more Total Fair value Gross unrealized losses Fair value Gross unrealized losses Fair value Gross unrealized losses Available-for-sale Japanese and foreign government bond securities ¥ 86,920 ¥ (2,228 ) ¥ 153,775 ¥ (6,927 ) ¥ 240,695 ¥ (9,155 ) Japanese prefectural and foreign municipal bond securities 71,088 (623 ) 220 (1 ) 71,308 (624 ) Corporate debt securities 152,919 (1,351 ) 23,731 (1,934 ) 176,650 (3,285 ) CMBS and RMBS in the Americas 8,700 (273 ) 8,715 (1,067 ) 17,415 (1,340 ) Other asset-backed securities and debt securities 13,573 (254 ) 26,723 (1,344 ) 40,296 (1,598 ) ¥ 333,200 ¥ (4,729 ) ¥ 213,164 ¥ (11,273 ) ¥ 546,364 ¥ (16,002 ) |
Total Other-Than-Temporary Impairment with Offset for Amount of Total Other-Than-Temporary Impairment Recognized in Other Comprehensive Income | The other-than-temporary impairment losses recognized in other comprehensive income (loss) and earnings for the nine and three months ended December 31, 2018 and 2019 are as follows: Millions of yen Nine months ended December 31, 2018 Nine months ended December 31, 2019 Total other-than-temporary impairment losses ¥ 806 ¥ 0 Portion of loss recognized in other comprehensive income (before taxes) (136 ) 0 Net impairment losses recognized in earnings ¥ 670 ¥ 0 Millions of yen Three months ended December 31, 2018 Three months ended December 31, 2019 Total other-than-temporary impairment losses ¥ 113 ¥ 0 Portion of loss recognized in other comprehensive income (before taxes) 0 0 Net impairment losses recognized in earnings ¥ 113 ¥ 0 |
Roll-Forwards of Amount of Accumulated Other-Than-Temporary Impairments Related to Credit Losses | For debt securities held as of December 31, 2018 and 2019, roll-forwards of the amount of accumulated other-than-temporary impairments related to credit losses for the nine and three months ended December 31, 2018 and 2019 are as follows. The amount mainly consists of CMBS and RMBS in the Americas and foreign municipal bond securities: Millions of yen Nine months ended December 31, 2018 Nine months ended December 31, 2019 Beginning ¥ 1,021 ¥ 2,102 Addition during the period : Credit loss for which an other-than-temporary impairment was not previously recognized 551 0 Reduction during the period : For securities sold or redeemed (22 ) 0 Ending ¥ 1,550 ¥ 2,102 Millions of yen Three months ended December 31, 2018 Three months ended December 31, 2019 Beginning ¥ 1,550 ¥ 2,102 Ending ¥ 1,550 ¥ 2,102 |
Transfer of Financial Assets (T
Transfer of Financial Assets (Tables) | 9 Months Ended |
Dec. 31, 2019 | |
Transfers and Servicing [Abstract] | |
Roll-Forwards of Amount of Servicing Assets | The servicing assets related to those servicing activities are included in other assets in the consolidated balance sheets and roll-forwards of the amount of the servicing assets for the nine and three months ended December 31, 2018 and 2019 are as follows: Millions of yen Nine months ended December 31, 2018 Nine months ended December 31, 2019 Three months ended December 31, 2018 Three months ended December 31, 2019 Beginning balance ¥ 28,756 ¥ 31,572 ¥ 31,068 ¥ 32,364 Increase mainly from loans sold with servicing retained 4,696 6,354 2,038 2,253 Decrease mainly from amortization (3,526 ) (3,764 ) (1,193 ) (1,339 ) Increase (Decrease) from the effects of changes in foreign exchange rates 1,270 (388 ) (717 ) 496 Ending balance ¥ 31,196 ¥ 33,774 ¥ 31,196 ¥ 33,774 |
Fair Value of Servicing Assets | The fair value of the servicing assets as of March 31, 2019 and December 31, 2019 are as follows: Millions of yen Beginning balance ¥ 35,681 ¥ 39,846 Ending balance ¥ 39,846 ¥ 42,028 |
Variable Interest Entities (Tab
Variable Interest Entities (Tables) | 9 Months Ended |
Dec. 31, 2019 | |
Variable Interest Entity, Primary Beneficiary | |
Information about Variable Interest Entities (Consolidated and Non-consolidated) | Information about VIEs (consolidated and non-consolidated) 1. Consolidated VIEs March 31, 2019 Millions of yen Types of VIEs Total assets *1 Total liabilities *1 Assets which are pledged as collateral *2 Commitments *3 (a) VIEs for liquidating customer assets ¥ 0 ¥ 0 ¥ 0 ¥ 0 (b) VIEs for acquisition of real estate and real estate development projects for customers 2,014 0 0 0 (c) VIEs for acquisition of real estate for the Company and its subsidiaries’ real estate-related business 94,404 31,208 49,587 0 (d) VIEs for corporate rehabilitation support business 564 30 0 0 (e) VIEs for investment in securities 72,347 121 42 0 (f) VIEs for securitizing financial assets such as finance lease receivable and loan receivable 228,859 175,115 228,859 0 (g) VIEs for securitization of loan receivable originated by third parties 2,264 2,729 2,264 0 (h) VIEs for power generation projects 282,739 195,915 242,937 54,533 (i) Other VIEs 149,333 45,082 120,312 0 Total ¥ 832,524 ¥ 450,200 ¥ 644,001 ¥ 54,533 December 31, 2019 Millions of yen Types of VIEs Total assets *1 Total liabilities *1 Assets which are pledged as collateral *2 Commitments *3 (a) VIEs for liquidating customer assets ¥ 0 ¥ 0 ¥ 0 ¥ 0 (b) VIEs for acquisition of real estate and real estate development projects for customers 2,485 1 0 0 (c) VIEs for acquisition of real estate for the Company and its subsidiaries’ real estate-related business 89,455 16,597 18,204 0 (d) VIEs for corporate rehabilitation support business 750 262 0 0 (e) VIEs for investment in securities 64,121 44 0 0 (f) VIEs for securitizing financial assets such as finance lease receivable and loan receivable 221,885 129,068 221,885 0 (g) VIEs for securitization of loan receivable originated by third parties 2,495 3,193 2,495 0 (h) VIEs for power generation projects 397,330 285,406 356,841 42,015 (i) Other VIEs 170,143 71,216 150,321 0 Total ¥ 948,664 ¥ 505,787 ¥ 749,746 ¥ 42,015 *1 The assets of most VIEs are used only to repay the liabilities of the VIEs, and the creditors of the liabilities of most VIEs have no recourse to other assets of the Company and its subsidiaries. *2 The assets are pledged as collateral by VIE for financing of the VIE. *3 This item represents remaining balance of commitments that could require the Company and its subsidiaries to provide investments or loans to the VIE. |
Variable Interest Entity, Not Primary Beneficiary | |
Information about Variable Interest Entities (Consolidated and Non-consolidated) | 2. Non-consolidated March 31, 2019 Millions of yen Carrying amount of the variable interests in the VIEs held by the Company and its subsidiaries Maximum exposure to loss * Types of VIEs Total assets Non-recourse Investments (a) VIEs for liquidating customer assets ¥ 8,524 ¥ 0 ¥ 991 ¥ 991 (b) VIEs for acquisition of real estate and real estate development projects for customers 34,872 0 3,426 3,426 (c) VIEs for acquisition of real estate for the Company and its subsidiaries’ real estate-related business 0 0 0 0 (d) VIEs for corporate rehabilitation support business 0 0 0 0 (e) VIEs for investment in securities 3,493,461 0 60,329 81,337 (f) VIEs for securitizing financial assets such as finance lease receivable and loan receivable 0 0 0 0 (g) VIEs for securitization of loan receivable originated by third parties 982,353 0 21,768 21,776 (h) VIEs for power generation projects 26,495 0 1,783 1,783 (i) Other VIEs 391,602 3,200 32,569 37,947 Total ¥ 4,937,307 ¥ 3,200 ¥ 120,866 ¥ 147,260 December 31, 2019 Millions of yen Carrying amount of the variable interests in the VIEs held by the Company and its subsidiaries Maximum exposure to loss * Types of VIEs Total assets Non-recourse Investments (a) VIEs for liquidating customer assets ¥ 8,452 ¥ 0 ¥ 991 ¥ 991 (b) VIEs for acquisition of real estate and real estate development projects for customers 36,619 0 2,527 2,527 (c) VIEs for acquisition of real estate for the Company and its subsidiaries’ real estate-related business 0 0 0 0 (d) VIEs for corporate rehabilitation support business 0 0 0 0 (e) VIEs for investment in securities 3,723,534 0 56,979 74,001 (f) VIEs for securitizing financial assets such as finance lease receivable and loan receivable 0 0 0 0 (g) VIEs for securitization of loan receivable originated by third parties 1,128,788 0 17,227 17,233 (h) VIEs for power generation projects 25,264 0 1,709 1,709 (i) Other VIEs 195,637 2,929 11,449 14,495 Total ¥ 5,118,294 ¥ 2,929 ¥ 90,882 ¥ 110,956 * Maximum exposure to loss includes remaining balance of commitments that could require the Company and its subsidiaries to provide investments or loans to the VIE. |
Investment in Affiliates (Table
Investment in Affiliates (Tables) | 9 Months Ended |
Dec. 31, 2019 | |
Investments in and Advances to Affiliates [Abstract] | |
Summary of Investment in Affiliates | Investment in affiliates at March 31, 2019 and December 31, 2019 consists of the following: Millions of yen March 31, 2019 December 31, 2019 Shares ¥ 789,638 ¥ 770,274 Loans and others 53,122 51,709 ¥ 842,760 ¥ 821,983 |
Redeemable Noncontrolling Int_2
Redeemable Noncontrolling Interests (Tables) | 9 Months Ended |
Dec. 31, 2019 | |
Noncontrolling Interest [Abstract] | |
Changes in Redeemable Noncontrolling Interests | Changes in redeemable noncontrolling interests for the nine months ended December 31, 2018 and 2019 are as follows: Millions of yen Nine months ended December 31, 2018 Nine months ended December 31, 2019 Beginning balance ¥ 7,420 ¥ 9,780 Comprehensive income Net income 434 359 Other comprehensive income (loss) Net change of foreign currency translation adjustments 326 (130 ) Total other comprehensive income (loss) 326 (130 ) Comprehensive income 760 229 Dividends (501 ) (289 ) Ending balance ¥ 7,679 ¥ 9,720 |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Income (Loss) (Tables) | 9 Months Ended |
Dec. 31, 2019 | |
Equity [Abstract] | |
Changes in Components of Accumulated Other Comprehensive Income (Loss) | Changes in each component of accumulated other comprehensive income (loss) attributable to ORIX Corporation Shareholders for the nine months ended December 31, 2018 and 2019, are as follows: Nine months ended December 31, 2018 Millions of yen Net unrealized gains (losses) on investment in securities Debt Defined benefit pension plans Foreign currency translation adjustments Net unrealized gains (losses) on derivative instruments Accumulated other comprehensive income (loss) Balance at March 31, 2018 ¥ 10,465 ¥ 0 ¥ (20,487 ) ¥ (31,806 ) ¥ (3,738 ) ¥ (45,566 ) Cumulative effect of adopting Accounting Standards Update 2016-01 (3,250 ) 351 0 0 0 (2,899 ) Balance at April 1, 2018 7,215 351 (20,487 ) (31,806 ) (3,738 ) (48,465 ) Net unrealized gains (losses) on investment in securities, net of tax of ¥(256) million 497 497 Reclassification adjustment included in net income, net of tax of ¥731 million (2,332 ) (2,332 ) Debt valuation adjustments, net of tax of ¥(127) million 322 322 Reclassification adjustment included in net income, net of tax of ¥8 million (19 ) (19 ) Defined benefit pension plans, net of tax of ¥(71) million 85 85 Reclassification adjustment included in net income, net of tax of ¥32 million (80 ) (80 ) Foreign currency translation adjustments, net of tax of ¥155 million (5,130 ) (5,130 ) Reclassification adjustment included in net income, net of tax of ¥(1) million 1 1 Net unrealized gains (losses) on derivative instruments, net of tax of ¥174 million (526 ) (526 ) Reclassification adjustment included in net income, net of tax of ¥(132) million 462 462 Total other comprehensive income (loss) (1,835 ) 303 5 (5,129 ) (64 ) (6,720 ) Transaction with noncontrolling interests 0 0 (52 ) 12 0 (40 ) Less: Other Comprehensive Income (Loss) Attributable to the Noncontrolling Interests 0 0 1 (102 ) 13 (88 ) Less: Other Comprehensive Income Attributable to the Redeemable Noncontrolling Interests 0 0 0 326 0 326 Balance at December 31, 2018 ¥ 5,380 ¥ 654 ¥ (20,535 ) ¥ (37,147 ) ¥ (3,815 ) ¥ (55,463 ) Nine months ended December 31, 2019 Millions of yen Net unrealized gains (losses) in securities Debt Defined pension plans Foreign currency translation adjustments Net unrealized gains (losses) instruments Accumulated other comprehensive income (loss) Balance at March 31, 2019 ¥ 17,389 ¥ 582 ¥ (27,902 ) ¥ (43,558 ) ¥ (7,854 ) ¥ (61,343 ) Net unrealized gains (losses) on investment in securities, net of tax of ¥(2,053) million 5,472 5,472 Reclassification adjustment included in net income, net of tax of ¥1,700 million (4,195 ) (4,195 ) Debt valuation adjustments, net of tax of ¥(65) million 168 168 Reclassification adjustment included in net income, net of tax of ¥12 million (32 ) (32 ) Defined benefit pension plans, net of tax of ¥(32) million 129 129 Reclassification adjustment included in net income, net of tax of ¥(142) million 363 363 Foreign currency translation adjustments, net of tax of ¥(823) million (18,801 ) (18,801 ) Reclassification adjustment included in net income, net of tax of ¥(1,058) million 2,216 2,216 Net unrealized gains (losses) on derivative instruments, net of tax of ¥996 million (4,444 ) (4,444 ) Reclassification adjustment included in net income, net of tax of ¥(323) million 884 884 Total other comprehensive income (loss) 1,277 136 492 (16,585 ) (3,560 ) (18,240 ) Less: Other Comprehensive Income (Loss) Attributable to the Noncontrolling Interests (6 ) 0 (1 ) (1,541 ) 1 (1,547 ) Less: Other Comprehensive Income (Loss) Attributable to the Redeemable Noncontrolling Interests 0 0 0 (130 ) 0 (130 ) Balance at December 31, 2019 ¥ 18,672 ¥ 718 ¥ (27,409 ) ¥ (58,472 ) ¥ (11,415 ) ¥ (77,906 ) Changes in each component of accumulated other comprehensive income (loss) attributable to ORIX Corporation Shareholders for the three months ended December 31, 2018 and 2019, are as follows: Three months ended December 31, 2018 Millions of yen Net unrealized gains (losses) in securities Debt Defined pension plans Foreign currency translation adjustments Net unrealized gains (losses) instruments Accumulated other comprehensive income (loss) Balance at September 30, 2018 ¥ 5,609 ¥ 270 ¥ (20,688 ) ¥ (17,802 ) ¥ (3,085 ) ¥ (35,696 ) Net unrealized gains (losses) on investment in securities, net of tax of ¥(114) million (391 ) (391 ) Reclassification adjustment included in net income, net of tax of ¥(118) million 162 162 Debt valuation adjustments, net of tax of ¥(153) million 391 391 Reclassification adjustment included in net income, net of tax of ¥3 million (7 ) (7 ) Defined benefit pension plans, net of tax of ¥(94) million 232 232 Reclassification adjustment included in net income, net of tax of ¥11 million (26 ) (26 ) Foreign currency translation adjustments, net of tax of ¥(8,709) million (19,918 ) (19,918 ) Reclassification adjustment included in net income, net of tax of ¥0 million 0 0 Net unrealized gains (losses) on derivative instruments, net of tax of ¥212 million (487 ) (487 ) Reclassification adjustment included in net income, net of tax of ¥86 million (267 ) (267 ) Total other comprehensive income (loss) (229 ) 384 206 (19,918 ) (754 ) (20,311 ) Transaction with noncontrolling interests 0 0 (50 ) 11 0 (39 ) Less: Other Comprehensive Income (Loss) Attributable to the Noncontrolling Interests 0 0 3 (386 ) (24 ) (407 ) Less: Other Comprehensive Income (Loss) Attributable to the Redeemable Noncontrolling Interests 0 0 0 (176 ) 0 (176 ) Balance at December 31, 2018 ¥ 5,380 ¥ 654 ¥ (20,535 ) ¥ (37,147 ) ¥ (3,815 ) ¥ (55,463 ) Three months ended December 31, 2019 Millions of yen Net unrealized in securities Debt Defined pension plans Foreign currency translation adjustments Net unrealized gains (losses) instruments Accumulated other comprehensive income (loss) Balance at September 30, 2019 ¥ 22,300 ¥ 786 ¥ (27,116 ) ¥ (79,587 ) ¥ (13,511 ) ¥ (97,128 ) Net unrealized gains (losses) on investment in securities, net of tax of ¥1,116 million (2,838 ) (2,838 ) Reclassification adjustment included in net income, net of tax of ¥313 million (789 ) (789 ) Debt valuation adjustments, net of tax of ¥21 million (54 ) (54 ) Reclassification adjustment included in net income, net of tax of ¥5 million (14 ) (14 ) Defined benefit pension plans, net of tax of ¥151 million (406 ) (406 ) Reclassification adjustment included in net income, net of tax of ¥(40) million 112 112 Foreign currency translation adjustments, net of tax of ¥6,858 million 20,802 20,802 Reclassification adjustment included in net income, net of tax of ¥(348) million 658 658 Net unrealized gains (losses) on derivative instruments, net of tax of ¥(584) million 1,877 1,877 Reclassification adjustment included in net income, net of tax of ¥(109) million 291 291 Total other comprehensive income (loss) (3,627 ) (68 ) (294 ) 21,460 2,168 19,639 Less: Other Comprehensive Income (Loss) Attributable to the Noncontrolling Interests 1 0 (1 ) 200 72 272 Less: Other Comprehensive Income Attributable to the Redeemable Noncontrolling Interests 0 0 0 145 0 145 Balance at December 31, 2019 ¥ 18,672 ¥ 718 ¥ (27,409 ) ¥ (58,472 ) ¥ (11,415 ) ¥ (77,906 ) |
Amounts Reclassified to Net Income from Accumulated Other Comprehensive Income (loss) | Amounts reclassified to net income from accumulated other comprehensive income (loss) in the nine months ended December 31, 2018 and 2019 are as follows: Nine months ended December 31, 2018 Details about accumulated other comprehensive income components Reclassification net income Millions of yen Consolidated statements of income caption Net unrealized gains (losses) on investment in securities Sales of debt securities ¥ 3,211 Gains on investment securities and dividends Sales of debt securities 1,545 Life insurance premiums and related investment income Amortization of debt securities (895 ) Finance revenues Amortization of debt securities (128 ) Life insurance premiums and related investment income Others (670 ) Write-downs of securities and other 3,063 Total before income tax (731 ) Income tax (expense) or benefit ¥ 2,332 Net of tax Debt valuation adjustments Fulfillment of policy liabilities and amortization of policy account balances ¥ 27 Life insurance costs 27 Total before income tax (8 ) Income tax (expense) or benefit ¥ 19 Net of tax Defined benefit pension plans Amortization of prior service credit ¥ 807 See Note 16 “Pension Plans” Amortization of net actuarial loss (692 ) See Note 16 “Pension Plans” Amortization of transition obligation (3 ) See Note 16 “Pension Plans” 112 Total before income tax (32 ) Income tax (expense) or benefit ¥ 80 Net of tax Foreign currency translation adjustments Sales or liquidation ¥ (2 ) Gains on sales of subsidiaries and affiliates and liquidation losses, net (2 ) Total before income tax 1 Income tax (expense) or benefit ¥ (1 ) Net of tax Net unrealized gains (losses) on derivative instruments Interest rate swap agreements ¥ 141 Finance revenues/Interest expense Foreign exchange contracts (220 ) Other (income) and expense, net Foreign currency swap agreements (515 ) Finance revenues/Interest expense/Other (income) and expense, net (594 ) Total before income tax 132 Income tax (expense) or benefit ¥ (462 ) Net of tax Nine months ended December 31, 2019 Details about accumulated other comprehensive income components Reclassification Consolidated statements of income caption Millions of yen Net unrealized gains (losses) on investment in securities Sales of debt securities ¥ 2,159 Gains on investment securities and dividends Sales of debt securities 5,133 Life insurance premiums and related investment income Amortization of debt securities (784 ) Finance revenues Amortization of debt securities (613 ) Life insurance premiums and related investment income 5,895 Total before income tax (1,700 ) Income tax (expense) or benefit ¥ 4,195 Net of tax Debt valuation adjustments Fulfillment of policy liabilities and amortization of policy account balances ¥ 44 Life insurance costs 44 Total before income tax (12 ) Income tax (expense) or benefit ¥ 32 Net of tax Defined benefit pension plans Amortization of prior service credit ¥ 730 See Note 16 “Pension Plans” Amortization of net actuarial loss (1,233 ) See Note 16 “Pension Plans” Amortization of transition obligation (2 ) See Note 16 “Pension Plans” (505 ) Total before income tax 142 Income tax (expense) or benefit ¥ (363 ) Net of tax Foreign currency translation adjustments Foreign exchange contracts ¥ (1,875 ) Gains on sales of subsidiaries and affiliates and liquidation losses, net/Interest expense/Other (income) and expense, net Sales or liquidation (1,399 ) Gains on sales of subsidiaries and affiliates and liquidation losses, net (3,274 ) Total before income tax 1,058 Income tax (expense) or benefit ¥ (2,216 ) Net of tax Net unrealized gains (losses) on derivative instruments Interest rate swap agreements ¥ (584 ) Interest expense Foreign exchange contracts (255 ) Interest expense Foreign currency swap agreements (368 ) Interest expense/Other (income) and expense, net (1,207 ) Total before income tax 323 Income tax (expense) or benefit ¥ (884 ) Net of tax Amounts reclassified to net income from accumulated other comprehensive income (loss) in the three months ended December 31, 2018 and 2019 are as follows: Three months ended December 31, 2018 Details about accumulated other comprehensive income components Reclassification net income Consolidated statements of income caption Millions of yen Net unrealized gains (losses) on investment in securities Sales of debt securities ¥ 88 Gains on investment securities and dividends Sales of debt securities 0 Life insurance premiums and related investment income Amortization of debt securities (241 ) Finance revenues Amortization of debt securities (14 ) Life insurance premiums and related investment income Others (113 ) Write-downs of securities and other (280 ) Total before income tax 118 Income tax (expense) or benefit ¥ (162 ) Net of tax Debt valuation adjustments Fulfillment of policy liabilities and amortization of policy account balances ¥ 10 Life insurance costs 10 Total before income tax (3 ) Income tax (expense) or benefit ¥ 7 Net of tax Defined benefit pension plans Amortization of prior service credit ¥ 269 See Note 16 “Pension Plans” Amortization of net actuarial loss (231 ) See Note 16 “Pension Plans” Amortization of transition obligation (1 ) See Note 16 “Pension Plans” 37 Total before income tax (11 ) Income tax (expense) or benefit ¥ 26 Net of tax Net unrealized gains (losses) on derivative instruments Interest rate swap agreements ¥ 4 Finance revenues/Interest expense Foreign exchange contracts (230 ) Other (income) and expense, net Foreign currency swap agreements 579 Finance revenues/Interest expense/Other (income) and expense, net 353 Total before income tax (86 ) Income tax (expense) or benefit ¥ 267 Net of tax Three months ended December 31, 2019 Details about accumulated other comprehensive income components Reclassification adjustment included in net income Consolidated statements of income caption Millions of yen Net unrealized gains (losses) on investment in securities Sales of debt securities ¥ 245 Gains on investment securities and dividends Sales of debt securities 1,578 Life insurance premiums and related investment income Amortization of debt securities (405 ) Finance revenues Amortization of debt securities (316 ) Life insurance premiums and related investment income 1,102 Total before income tax (313 ) Income tax (expense) or benefit ¥ 789 Net of tax Debt valuation adjustments Fulfillment of policy liabilities and amortization of policy account balances ¥ 19 Life insurance costs 19 Total before income tax (5 ) Income tax (expense) or benefit ¥ 14 Net of tax Defined benefit pension plans Amortization of prior service credit ¥ 249 See Note 16 “Pension Plans” Amortization of net actuarial loss (401 ) See Note 16 “Pension Plans” Amortization of transition obligation (0 ) See Note 16 “Pension Plans” (152 ) Total before income tax 40 Income tax (expense) or benefit ¥ (112 ) Net of tax Foreign currency translation adjustments Foreign exchange contracts ¥ 393 Gains on sales of subsidiaries and affiliates and liquidation losses, net/Interest expense/Other (income) and expense, net Sales or liquidation (1,399 ) Gains on sales of subsidiaries and affiliates and liquidation losses, net (1,006 ) Total before income tax 348 Income tax (expense) or benefit ¥ (658 ) Net of tax Net unrealized gains (losses) on derivative instruments Interest rate swap agreements ¥ (218 ) Interest expense/Other (income) and expense, net Foreign exchange contracts (107 ) Interest expense Foreign currency swap agreements (75 ) Interest expense/Other (income) and expense, net (400 ) Total before income tax 109 Income tax (expense) or benefit ¥ (291 ) Net of tax |
ORIX Corporation Shareholders_2
ORIX Corporation Shareholders' Equity (Tables) | 9 Months Ended |
Dec. 31, 2019 | |
Stockholders' Equity Note [Abstract] | |
Changes in Number of Shares Issued | Information about ORIX Corporation Shareholders’ Equity for the nine months ended December 31, 2018 and 2019 are as follows: (1) Dividend payments Nine months ended December 31, 2018 Nine months ended December 31, 2019 Resolution The board of directors on May 21, 2018 The board of directors on May 22, 2019 Type of shares Common stock Common stock Total dividends paid ¥49,984 million ¥58,962 million Dividend per share ¥39.00 ¥46.00 Date of record for dividend March 31, 2018 March 31, 2019 Effective date for dividend June 5, 2018 June 3, 2019 Dividend resource Retained earnings Retained earnings Resolution The board of directors on October 26, 2018 The board of directors on October 28, 2019 Type of shares Common stock Common stock Total dividends paid ¥38,453 million ¥44,862 million Dividend per share ¥30.00 ¥35.00 Date of record for dividend September 30, 2018 September 30, 2019 Effective date for dividend December 4, 2018 December 3, 2019 Dividend resource Retained earnings Retained earnings |
Selling, General and Administ_2
Selling, General and Administrative Expenses (Tables) | 9 Months Ended |
Dec. 31, 2019 | |
Text Block [Abstract] | |
Summary of Selling, General and Administrative Expenses | Selling, general and administrative expenses for the nine months ended December 31, 2018 and 2019 are as follows: Millions of yen Nine months ended December 31, 2018 Nine months ended December 31, 2019 Personnel expenses ¥ 183,872 ¥ 192,526 Selling expenses 56,892 53,759 Administrative expenses 75,783 86,033 Depreciation of office facilities 3,537 5,436 Total ¥ 320,084 ¥ 337,754 Selling, general and administrative expenses for the three months ended December 31, 2018 and 2019 are as follows: Millions of yen Three months ended December 31, 2018 Three months ended December 31, 2019 Personnel expenses ¥ 61,434 ¥ 66,736 Selling expenses 20,009 18,578 Administrative expenses 26,674 29,361 Depreciation of office facilities 1,321 1,888 Total ¥ 109,438 ¥ 116,563 |
Pension Plans (Tables)
Pension Plans (Tables) | 9 Months Ended |
Dec. 31, 2019 | |
Net Pension Cost of Defined Benefit Plans | Net periodic pension cost for the nine months ended December 31, 2018 and 2019 consists of the following: Millions of yen Nine months ended December 31, 2018 Nine months ended December 31, 2019 Japanese plans: Service cost ¥ 4,144 ¥ 4,384 Interest cost 542 438 Expected return on plan assets (2,042 ) (2,083 ) Amortization of prior service credit (673 ) (615 ) Amortization of net actuarial loss 633 865 Amortization of transition obligation 0 0 Net periodic pension cost ¥ 2,604 ¥ 2,989 Millions of yen Nine months ended December 31, 2018 Nine months ended December 31, 2019 Overseas plans: Service cost ¥ 2,433 ¥ 2,649 Interest cost 1,484 1,275 Expected return on plan assets (3,292 ) (3,242 ) Amortization of prior service credit (134 ) (115 ) Amortization of net actuarial loss 59 368 Amortization of transition obligation 3 2 Net periodic pension cost ¥ 553 ¥ 937 Net pension cost of the plans for the three months ended December 31, 2018 and 2019 consists of the following: Millions of yen Three months ended December 31, 2018 Three months ended December 31, 2019 Japanese plans: Service cost ¥ 1,382 ¥ 1,507 Interest cost 181 151 Expected return on plan assets (680 ) (713 ) Amortization of prior service credit (225 ) (210 ) Amortization of net actuarial loss 211 288 Amortization of transition obligation 0 0 Net periodic pension cost ¥ 869 ¥ 1,023 Millions of yen Three months ended December 31, 2018 Three months ended December 31, 2019 Overseas plans: Service cost ¥ 802 ¥ 883 Interest cost 491 426 Expected return on plan assets (1,090 ) (1,101 ) Amortization of prior service credit (44 ) (39 ) Amortization of net actuarial loss 20 113 Amortization of transition obligation 1 0 Net periodic pension cost ¥ 180 ¥ 282 Note: The components of net periodic pension cost other than the service cost component are included in personnel expenses, which is included in selling, general and administrative expenses in the consolidated statements of income. |
Life Insurance Operations (Tabl
Life Insurance Operations (Tables) | 9 Months Ended |
Dec. 31, 2019 | |
Insurance [Abstract] | |
Life Insurance Premiums and Related Investment Income | Life insurance premiums and related investment income for the nine and three months ended December 31, 2018 and 2019 consist of the following: Millions of yen Nine months ended December 31, 2018 Nine months ended December 31, 2019 Life insurance premiums ¥ 233,134 ¥ 254,683 Life insurance related investment income (loss) * (5,114 ) 35,973 ¥ 228,020 ¥ 290,656 * Life insurance related investment income for the nine months ended December 31, 2018 and 2019 include a net unrealized holding loss of ¥23,189 million and a net unrealized holding gain of ¥24,609 million on equity securities held as of December 31, 2018 and 2019, respectively. Millions of yen Three months ended December 31, 2018 Three months ended December 31, 2019 Life insurance premiums ¥ 79,623 ¥ 87,421 Life insurance related investment income (loss) * (32,207 ) 20,767 ¥ 47,416 ¥ 108,188 * Life insurance related investment income for the three months ended December 31, 2018 and 2019 include a net unrealized holding loss of ¥43,010 million and a net unrealized holding gain of ¥18,043 million on equity securities held as of December 31, 2018 and 2019, respectively. |
Reinsurance Benefits and Reinsurance Premiums Included in Life Insurance Premiums | Life insurance premiums include reinsurance benefits, net of reinsurance premiums. For the nine and three months ended December 31, 2018 and 2019, reinsurance benefits and reinsurance premiums included in life insurance premiums are as follows: Millions of yen Nine months ended December 31, 2018 Nine months ended December 31, 2019 Reinsurance benefits ¥ 1,891 ¥ 1,949 Reinsurance premiums (4,142 ) (3,933 ) Millions of yen Three months ended December 31, 2018 Three months ended December 31, 2019 Reinsurance benefits ¥ 698 ¥ 774 Reinsurance premiums (1,293 ) (1,282 ) |
Gains or Losses Relating to Variable Annuity and Variable Life Insurance Contracts | The above mentioned gains or losses relating to variable annuity and variable life insurance contracts for the nine and three months ended December 31, 2018 and 2019 are as follows: Millions of yen Nine months ended December 31, 2018 Nine months ended December 31, 2019 Life insurance premiums and related investment income: Net realized and unrealized gains or losses from investment assets ¥ (21,790 ) ¥ 25,962 Net gains or losses from derivative contracts: 2,496 (3,477 ) Futures 2,730 (3,292 ) Foreign exchange contracts (316 ) (5 ) Options held 82 (180 ) Life insurance costs: Changes in the fair value of the policy liabilities and policy account balances ¥ (81,515 ) ¥ (26,992 ) Insurance costs recognized for insurance and annuity payouts as a result of insured events 62,522 39,418 Changes in the fair value of the reinsurance contracts (2,794 ) 3,230 Millions of yen Three months ended December 31, 2018 Three months ended December 31, 2019 Life insurance premiums and related investment income: Net realized and unrealized gains or losses from investment assets ¥ (43,844 ) ¥ 18,661 Net gains or losses from derivative contracts: 5,956 (2,653 ) Futures 5,051 (2,284 ) Foreign exchange contracts 219 (284 ) Options held 686 (85 ) Life insurance costs: Changes in the fair value of the policy liabilities and policy account balances ¥ (43,098 ) ¥ (3,917 ) Insurance costs recognized for insurance and annuity payouts as a result of insured events 14,851 14,304 Changes in the fair value of the reinsurance contracts (6,681 ) 2,163 |
Write-Downs of Long-Lived Ass_2
Write-Downs of Long-Lived Assets (Tables) | 9 Months Ended |
Dec. 31, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Long-Lived Assets Classified as Held for Sale | As of March 31, 2019 and December 31, 2019, the long-lived assets and liabilities associated with those assets classified as held for sale in the accompanying consolidated balance sheets are as follows. Millions of yen As of March 31, 2019 As of December 31, 2019 Investment in operating leases ¥ 24,956 ¥ 37,875 Property under facility operations 44,473 0 Other assets 19 812 |
Breakdowns of Recognized Impairment Losses for Difference between Carrying Amounts and Fair Values Reflected as Write-Downs of Long-Lived Assets | For the nine months ended December 31, 2018 and 2019, the Company and its subsidiaries recognized impairment losses for the difference between carrying amounts and fair values in the amount of ¥26 million and ¥554 million, respectively, which are reflected as write-downs of long-lived assets. Breakdowns of these amounts are as follows. Nine months ended December 31, 2018 Nine months ended December 31, 2019 Amount (Millions of yen) The number of Amount (Millions of yen) The number of Write-downs due to decline in estimated future cash flows: Commercial facilities other than office buildings ¥ 16 1 ¥ 529 2 Others * 10 — 25 — Total ¥ 26 — ¥ 554 — * For the “Others,” the number of properties is omitted. For the three months ended December 31, 2018, there were no impairment losses. For the three months ended December 31, 2019, the Company and its subsidiaries recognized impairment losses for the difference between carrying amounts and fair values in the amount of ¥518 million which are reflected as write-downs of long-lived assets. Breakdowns of these amounts are as follows. Three months ended December 31, 2018 Three months ended December 31, 2019 Amount (Millions of yen) The number of Amount (Millions of yen) The number of Write-downs due to decline in estimated future cash flows: Commercial facilities other than office buildings ¥ 0 — ¥ 509 1 Others * 0 — 9 — Total ¥ 0 — ¥ 518 — * For the “Others,” the number of properties is omitted. |
Per Share Data (Tables)
Per Share Data (Tables) | 9 Months Ended |
Dec. 31, 2019 | |
Earnings Per Share [Abstract] | |
Reconciliation of Differences Between Basic and Diluted Earnings Per Share (EPS) | During the nine and three months ended December 31, 2018 and 2019, there were no stock compensation which were antidilutive. Millions of yen Nine months ended December 31, 2018 Nine months ended December 31, 2019 Net Income attributable to ORIX Corporation shareholders ¥ 236,207 ¥ 244,319 Millions of yen Three months ended December 31, 2018 Three months ended December 31, 2019 Net Income attributable to ORIX Corporation shareholders ¥ 81,157 ¥ 85,169 Thousands of Shares Nine months ended December 31, 2018 Nine months ended December 31, 2019 Weighted-average shares 1,280,038 1,279,196 Effect of dilutive securities— Stock compensation 1,083 1,138 Weighted-average shares for diluted EPS computation 1,281,121 1,280,334 Thousands of Shares Three months ended December 31, 2018 Three months ended December 31, 2019 Weighted-average shares 1,279,962 1,278,048 Effect of dilutive securities— Stock compensation 1,040 1,245 Weighted-average shares for diluted EPS computation 1,281,002 1,279,293 Yen Nine months ended December 31, 2018 Nine months ended December 31, 2019 Earnings per share for net income attributable to ORIX Corporation shareholders: Basic ¥ 184.53 ¥ 190.99 Diluted ¥ 184.38 ¥ 190.82 Yen Three months ended December 31, 2018 Three months ended December 31, 2019 Earnings per share for net income attributable to ORIX Corporation shareholders: Basic ¥ 63.41 ¥ 66.64 Diluted ¥ 63.35 ¥ 66.58 Note: The Company’s shares held through the Board Incentive Plan Trust are included in the number of treasury stock shares to be deducted in calculation of the weighted-average shares for EPS computation. (1,715,210 and 1,813,193 shares for the nine months ended December 31, 2018 and 2019, 1,823,993 and 1,796,993 shares for the three months ended December 31, 2018 and 2019) |
Derivative Financial Instrume_2
Derivative Financial Instruments and Hedging (Tables) | 9 Months Ended |
Dec. 31, 2019 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Effect of Derivative Instruments on Consolidated Statements of Income, Pre-tax | The effect of derivative instruments on the consolidated statements of income, pre-tax, (1) Cash flow hedges Gains (losses) recognized in other comprehensive income on derivative (effective portion) Gains (losses) reclassified from other comprehensive income (loss) into income (effective portion) Gains (losses) recognized in income on derivative excluded from effectiveness testing) Millions of yen Consolidated statements of income location Millions of yen Consolidated statements of income location Millions of yen Interest rate swap agreements ¥ (1,529 ) Finance revenues/Interest expense ¥ 141 — ¥ 0 Foreign exchange contracts 252 Other (income) and expense, net (220 ) — 0 Foreign currency swap agreements 577 Finance revenues/Interest expense/Other (income) and expense, net (515 ) — 0 (2) Fair value hedges Gains (losses) recognized in income on derivative and other Gains (losses) recognized in income on hedged item Millions of yen Consolidated statements of income location Millions of yen Consolidated statements of income location Interest rate swap agreements ¥ (4,553 ) Finance revenues/Interest expense ¥ 4,553 Finance revenues/Interest expense Foreign exchange contracts (3,834 ) Other (income) and expense, net 3,711 Other (income) and expense, net (3) Hedges of net investment in foreign operations Gains (losses) recognized in other comprehensive income on derivative and others (effective portion) Gains (losses) reclassified from other comprehensive income (loss) into income (effective portion) Gains (losses) recognized in income on derivative and others (ineffective portion and amount excluded from effectiveness testing) Millions of yen Consolidated statements of income location Millions of yen Consolidated statements of income location Millions of yen Foreign exchange contracts ¥ 2,500 Gains on sales of subsidiaries and affiliates and liquidation losses, net ¥ (115 ) — ¥ 0 Borrowings and bonds in foreign currencies (7,377 ) — 0 — 0 (4) Derivatives not designated as hedging instruments Gains (losses) recognized in income on derivative Millions of yen Consolidated statements of income location Interest rate swap agreements ¥ 1,013 Other (income) and expense, net Futures 2,573 Gains on investment securities and dividends Life insurance premiums and related investment income * Foreign exchange contracts (2,037 ) Gains on investment securities and dividends Life insurance premiums and related investment income * Other (income) and expense, net Credit derivatives held 59 Other (income) and expense, net Options held/written and other (1,077 ) Other (income) and expense, net Life insurance premiums and related investment income * * Futures, foreign exchange contracts and options held/written and other in the above table include losses arising from futures, foreign exchange contracts and options held to economically hedge the minimum guarantee risk of variable annuity and variable life insurance contracts for the nine months ended December 31, 2018 (see Note 17 “Life Insurance Operations”). The effect of derivative instruments on the consolidated statements of income, pre-tax, (1) Cash flow hedges Millions of yen Gains (losses) recognized in other comprehensive income on derivative Gains (losses) reclassified from other comprehensive income (loss) into income Interest expense Other (income) and expense, net Interest rate swap agreements ¥ (4,610 ) ¥ 584 ¥ 0 Foreign exchange contracts (369 ) 255 0 Foreign currency swap agreements (461 ) 260 108 (2) Fair value hedges Millions of yen Gains (losses) recognized in income on derivative and other Gains (losses) recognized in income on hedged item Life insurance premiums and related investment Other (income) and expense, net Life insurance premiums and related investment Other (income) and expense, net Interest rate swap agreements ¥ (5,794 ) ¥ 0 ¥ 5,431 ¥ 0 Foreign exchange contracts 1,172 153 (910 ) (128 ) (3) Hedges of net investment in foreign operations Millions of yen Gains (losses) recognized in other comprehensive income on derivative and others Gains (losses) reclassified from other comprehensive income (loss) into income (Millions of yen) Gains on sales of Interest expense Other (income) and Foreign exchange contracts ¥ 4,380 ¥ 1,594 ¥ 3,448 ¥ 21 Borrowings and bonds in foreign currencies 8,342 0 0 0 (4) Derivatives not designated as hedging instruments Millions of yen Gains (losses) recognized in income on derivative (Millions of yen) Life insurance premiums and Interest expense Other (income) and expense, net Interest rate swap agreements ¥ 0 ¥ 5 ¥ 120 Futures (3,292 ) 0 2,367 Foreign exchange contracts 177 3,635 1,494 Credit derivatives held 0 0 (6 ) Options held/written and other (180 ) 0 1,202 * Futures, foreign exchange contracts and options held/written and other in the above table include gains (losses) arising from futures, foreign exchange contracts and options held to economically hedge the minimum guarantee risk of variable annuity and variable life insurance contracts for the nine months ended December 31, 2019 (see Note 17 “Life Insurance Operations”). The effect of derivative instruments on the consolidated statements of income, pre-tax, (1) Cash flow hedges Gains (losses) recognized in other comprehensive income on derivative (effective portion) Gains (losses) reclassified from other comprehensive income (loss) into income (effective portion) Gains (losses) recognized in income on derivative excluded from effectiveness testing) Millions of yen Consolidated statements of income location Millions of yen Consolidated statements of income location Millions of yen Interest rate swap agreements ¥ (2,252 ) Finance revenues/Interest expense ¥ 4 — ¥ 0 Foreign exchange contracts 9 Other (income) and expense, net (230 ) — 0 Foreign currency swap agreements 1,544 Finance revenues/Interest expense /Other (income) and expense, net 579 — 0 (2) Fair value hedges Gains (losses) recognized in income on derivative and other Gains (losses) recognized in income on hedged item Millions of yen Consolidated statements of income location Millions of yen Consolidated statements of income location Interest rate swap agreements (5,781 ) Finance revenues/Interest expense 5,781 Finance revenues/Interest expense Foreign exchange contracts 830 Other (income) and expense, net (953 ) Other (income) and expense, net (3) Hedges of net investment in foreign operations Gains (losses) recognized in other comprehensive income on derivative and others (effective portion) Gains (losses) reclassified from other comprehensive income (loss) into income (effective portion) Gains (losses) recognized in income on derivative and others (ineffective portion and amount excluded from effectiveness testing) Millions of yen Consolidated statements of income location Millions of yen Consolidated statements of income location Millions of yen Foreign exchange contracts ¥ 4,234 — ¥ 0 — ¥ 0 Borrowings and bonds in foreign currencies 14,711 — 0 — 0 (4) Derivatives not designated as hedging instruments Gains (losses) recognized in income on derivative Millions of yen Consolidated statements of income location Interest rate swap agreements ¥ (134 ) Other (income) and expense, net Futures 5,257 Gains on investment securities and dividends Life insurance premiums and related investment income * Foreign exchange contracts 5,819 Gains on investment securities and dividends Life insurance premiums and related investment income * Other (income) and expense, net Credit derivatives held 40 Other (income) and expense, net Options held/written and other (1,350 ) Other (income) and expense, net Life insurance premiums and related investment income * * Futures, foreign exchange contracts and options held/written and other in the above table include gains (losses) arising from futures, foreign exchange contracts and options held to economically hedge the minimum guarantee risk of variable annuity and variable life insurance contracts for the three months ended December 31, 2018 (see Note 17 “Life Insurance Operations”). The effect of derivative instruments on the consolidated statements of income, pre-tax, (1) Cash flow hedges Millions of yen Gains (losses) recognized in other comprehensive income on derivative Gains (losses) reclassified from other comprehensive income (loss) into income Interest expense Other (income) and expense, net Interest rate swap agreements ¥ 2,481 ¥ 218 ¥ 0 Foreign exchange contracts (255 ) 107 0 Foreign currency swap agreements 235 (25 ) 100 (2) Fair value hedges Millions of yen Gains (losses) recognized in income on derivative and other Gains (losses) recognized in income on hedged item Life insurance premiums Other (income) and Life insurance premiums Other (income) and Interest rate swap agreements ¥ 3,346 ¥ 0 ¥ (3,299 ) ¥ 0 Foreign exchange contracts (934 ) 127 1,370 (98 ) (3) Hedges of net investment in foreign operations Millions of yen Gains (losses) recognized in other comprehensive income on derivative and others Gains (losses) reclassified from other comprehensive income (loss) into income (Millions of yen) Gains on sales of Interest expense Other (income) and Foreign exchange contracts ¥ (12,324 ) ¥ 1,594 ¥ 1,194 ¥ 7 Borrowings and bonds in foreign currencies (10,477 ) 0 0 0 (4) Derivatives not designated as hedging instruments Millions of yen Gains (losses) recognized in income on derivative (Millions of yen) Life insurance premiums and Interest expense Other (income) and expense, net Interest rate swap agreements ¥ 0 ¥ 2 ¥ (12 ) Futures (2,284 ) 0 1,760 Foreign exchange contracts (337 ) 1,119 6,017 Credit derivatives held 0 0 10 Options held/written and other (85 ) 0 1,328 * Futures, foreign exchange contracts and options held/written and other in the above table include gains (losses) arising from futures, foreign exchange contracts and options held to economically hedge the minimum guarantee risk of variable annuity and variable life insurance contracts for the three months ended December 31, 2019 (see Note 17 “Life Insurance Operations”). Fair value hedges Millions of yen Gains (losses) reclassified from other comprehensive income (loss) into Life insurance premiums and related Foreign exchange contracts ¥ (1,324 ) The effect of the components excluded from the assessment of hedge effectiveness on the consolidated statements of income, pre-tax, Fair value hedges Millions of yen Gains (losses) reclassified from other comprehensive income (loss) into income Life insurance premiums and related Foreign exchange contracts ¥ (904 ) The carrying amount of hedged assets and liabilities recognized in balance sheets in fair value hedges and the cumulative amount of fair value hedging adjustments included in the carrying amount at December 31, 2019 is as follows. Assets as hedged items in fair value hedges Liabilities as hedged items in fair value hedges Millions of yen Millions of yen Consolidated balance sheets location Carrying amount The cumulative Consolidated balance sheets location Carrying amount The cumulative Investment in Securities * ¥ 318,697 ¥ 13,213 — ¥ 0 ¥ 0 * Accumulated fair value hedge adjustments of ¥(1,921) million are included for hedged items for which hedge accounting has been discontinued. |
Notional Amounts of Derivative Instruments and Other, Fair Values of Derivative Instruments and Other before Offsetting | Notional amounts of derivative instruments and other, fair values of derivative instruments and other before offsetting at March 31, 2019 and December 31, 2019 are as follows. March 31, 2019 Derivative assets Derivative liabilities Notional amount Fair value Consolidated balance sheets location Fair value Consolidated balance sheets location Millions of yen Millions of yen Millions of yen Derivatives designated as hedging instruments and other: Interest rate swap agreements ¥ 498,874 ¥ 11 Other Assets ¥ 17,320 Other Liabilities Futures, foreign exchange contracts 505,909 1,888 Other Assets 3,177 Other Liabilities Foreign currency swap agreements 65,575 1,203 Other Assets 364 Other Liabilities Foreign currency long-term debt 641,127 0 — 0 — Derivatives not designated as hedging instruments: Interest rate swap agreements ¥ 60,657 ¥ 127 Other Assets ¥ 119 Other Liabilities Options held/written and other * 556,668 11,140 Other Assets 2,809 Other Liabilities Futures, foreign exchange contracts * 320,710 1,119 Other Assets 2,159 Other Liabilities Credit derivatives held 262 7 Other Assets 10 Other Liabilities * The notional amounts of options held/written and other and futures, foreign exchange contracts in the above table include options held of ¥34,701 million, futures contracts of ¥37,359 million and foreign exchange contracts of ¥13,171 million to economically hedge the minimum guarantee risk of variable annuity and variable life insurance contracts at March 31, 2019, respectively. Derivative assets in the above table include fair value of the options held, futures contracts and foreign exchange contracts before offsetting of ¥206 million, ¥248 million and ¥30 million and derivative liabilities include fair value of the futures and foreign exchange contracts before offsetting of ¥258 million and ¥173 million at March 31, 2019, respectively. December 31, 2019 Derivative assets Derivative liabilities Notional amount Fair value Consolidated balance sheets location Fair value Consolidated balance sheets location Millions of yen Millions of yen Millions of yen Derivatives designated as hedging instruments and other: Interest rate swap agreements ¥ 504,636 ¥ 158 Other Assets ¥ 24,703 Other Liabilities Options held/written and other 949 5 Other Assets 0 — Futures, foreign exchange contracts 509,650 25 Other Assets 9,753 Other Liabilities Foreign currency swap agreements 66,422 1,421 Other Assets 965 Other Liabilities Foreign currency long-term debt 618,412 0 — 0 — Derivatives not designated as hedging instruments: Interest rate swap agreements ¥ 7,183 ¥ 9 Other Assets ¥ 65 Other Liabilities Options held/written and other * 490,428 13,687 Other Assets 10,960 Other Liabilities Futures, foreign exchange contracts * 323,990 378 Other Assets 4,742 Other Liabilities * The notional amounts of options held/written and other and futures, foreign exchange contracts in the above table include options held of ¥25,225 million, futures contracts of ¥30,042 million and foreign exchange contracts of ¥9,716 million to economically hedge the minimum guarantee risk of variable annuity and variable life insurance contracts at December 31, 2019, respectively. Derivative assets in the above table include fair value of the options held, futures contracts and foreign exchange contracts before offsetting of ¥16 million, ¥0 million and ¥6 million and derivative liabilities include fair value of the futures and foreign exchange contracts before offsetting of ¥34 million and ¥114 million at December 31, 2019, respectively. |
Offsetting Assets and Liabili_2
Offsetting Assets and Liabilities (Tables) | 9 Months Ended |
Dec. 31, 2019 | |
Text Block [Abstract] | |
Gross Amounts Recognized, Gross Amounts Offset, and Net Amounts Presented in Consolidated Balance Sheets Regarding to Derivative Assets and Liabilities and Other Assets and Liabilities | The gross amounts recognized, gross amounts offset, and net amounts presented in the consolidated balance sheets regarding derivative assets and liabilities as of March 31, 2019 and December 31, 2019 are as follows. March 31, 2019 Millions of yen Gross amounts recognized Gross amounts offset in the consolidated balance sheets Net amounts presented in the consolidated balance sheets Gross amounts not offset in the consolidated balance sheets* Net amount Financial instruments Collateral received/pledged Derivative assets ¥ 15,495 ¥ (1,497 ) ¥ 13,998 ¥ (196 ) ¥ 0 ¥ 13,802 Total assets ¥ 15,495 ¥ (1,497 ) ¥ 13,998 ¥ (196 ) ¥ 0 ¥ 13,802 Derivative liabilities ¥ 25,958 ¥ (1,497 ) ¥ 24,461 ¥ (8,353 ) ¥ (79 ) ¥ 16,029 Total liabilities ¥ 25,958 ¥ (1,497 ) ¥ 24,461 ¥ (8,353 ) ¥ (79 ) ¥ 16,029 December 31, 2019 Millions of yen Gross amounts recognized Gross amounts offset in the consolidated balance sheets Net amounts presented in the consolidated balance sheets Gross amounts not offset in the consolidated balance sheets* Net amount Financial instruments Collateral received/pledged Derivative assets ¥ 15,683 ¥ (514 ) ¥ 15,169 ¥ (16 ) ¥ 0 ¥ 15,153 Total assets ¥ 15,683 ¥ (514 ) ¥ 15,169 ¥ (16 ) ¥ 0 ¥ 15,153 Derivative liabilities ¥ 51,188 ¥ (514 ) ¥ 50,674 ¥ (14,143 ) ¥ (1,313 ) ¥ 35,218 Total liabilities ¥ 51,188 ¥ (514 ) ¥ 50,674 ¥ (14,143 ) ¥ (1,313 ) ¥ 35,218 * The balances related to enforceable master netting agreements or similar agreements which were not offset in the consolidated balance sheets. |
Estimated Fair Value of Finan_2
Estimated Fair Value of Financial Instruments (Tables) | 9 Months Ended |
Dec. 31, 2019 | |
Fair Value Disclosures [Abstract] | |
Information about Carrying Amount of Financial Instruments Reported in Consolidated Balance Sheets and Related Market or Fair Value | The following information is provided to help readers gain an understanding of the relationship between carrying amount of financial instruments reported in the Company’s consolidated balance sheets and the related market or fair value. The disclosures do not include net investment in leases, investment in affiliates, pension obligations and insurance contracts and reinsurance contracts except for those classified as investment contracts. March 31, 2019 Millions of yen Carrying amount Estimated fair value Level 1 Level 2 Level 3 Assets: Cash and cash equivalents ¥ 1,161,032 ¥ 1,161,032 ¥ 1,161,032 ¥ 0 ¥ 0 Restricted cash 122,548 122,548 122,548 0 0 Installment loans (net of allowance for probable loan losses) 3,231,708 3,228,750 0 199,590 3,029,160 Equity securities *1 425,593 425,593 68,631 295,769 61,193 Trading debt securities 1,564 1,564 0 1,564 0 Available-for-sale 1,264,244 1,264,244 24,831 1,138,966 100,447 Held-to-maturity 114,061 144,326 0 120,714 23,612 Other Assets: Time deposits 4,754 4,754 0 4,754 0 Derivative assets *2 13,998 13,998 0 0 0 Reinsurance recoverables (Investment contracts) 29,989 30,400 0 0 30,400 Liabilities: Short-term debt ¥ 309,549 ¥ 309,549 ¥ 0 ¥ 309,549 ¥ 0 Deposits 1,782,198 1,782,753 0 1,782,753 0 Policy liabilities and Policy account balances (Investment contracts) 244,497 244,653 0 0 244,653 Long-term debt 4,186,222 4,199,341 0 1,158,287 3,041,054 Other Liabilities: Derivative liabilities *2 24,461 24,461 0 0 0 *1 The amount of ¥12,100 million of investment funds measured at net asset value per share is not included. *2 It represents the amount after offset under counterparty netting of derivative assets and liabilities. For the information of input level before netting, see Note 3 “Fair Value Measurements.” December 31, 2019 Millions of yen Carrying amount Estimated fair value Level 1 Level 2 Level 3 Assets: Cash and cash equivalents ¥ 902,312 ¥ 902,312 ¥ 902,312 ¥ 0 ¥ 0 Restricted cash 118,297 118,297 118,297 0 0 Installment loans (net of allowance for probable loan losses) 3,571,075 3,575,442 0 212,528 3,362,914 Equity securities *1 417,433 417,433 73,334 277,917 66,182 Trading debt securities 1,371 1,371 0 1,371 0 Available-for-sale 1,576,349 1,576,349 22,381 1,453,002 100,966 Held-to-maturity 113,880 144,522 0 120,150 24,372 Other Assets: Time deposits 4,250 4,250 0 4,250 0 Derivative assets *2 15,169 15,169 0 0 0 Reinsurance recoverables (Investment contracts) 9,019 9,272 0 0 9,272 Liabilities: Short-term debt ¥ 384,132 ¥ 384,132 ¥ 0 ¥ 384,132 ¥ 0 Deposits 2,053,762 2,053,439 0 2,053,439 0 Policy liabilities and Policy account balances (Investment contracts) 217,610 217,734 0 0 217,734 Long-term debt 4,119,179 4,144,011 0 1,105,707 3,038,304 Other Liabilities: Derivative liabilities *2 50,674 50,674 0 0 0 *1 The amount of ¥11,878 million of investment funds measured at net asset value per share is not included. *2 It represents the amount after offset under counterparty netting of derivative assets and liabilities. For the information of input level before netting, see Note 3 “Fair Value Measurements.” |
Commitments, Guarantees and C_2
Commitments, Guarantees and Contingent Liabilities (Tables) | 9 Months Ended |
Dec. 31, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Minimum Future Rentals on Non-Cancelable Operating Leases | The minimum future rentals on non-cancelable Years ending March 31, Millions of yen 2020 ¥ 7,694 2021 6,647 2022 5,923 2023 5,434 2024 4,802 Thereafter 34,485 Total ¥ 64,985 |
Amounts Due of Certain Computer Systems Operated and Maintained under Non-cancelable Contracts with Third-party Service Providers | As of March 31, 2019 and December 31, 2019, the amounts due are as follows: Millions of yen March 31, December 31, Within one year ¥ 4,323 ¥ 3,905 More than one year 3,185 4,579 Total ¥ 7,508 ¥ 8,484 |
Summary of Potential Future Payments, Book Value Recorded as Guarantee Liabilities of Guarantee Contracts Outstanding and Maturity of Longest Guarantee Contracts | The following table represents the summary of potential future payments, book value recorded as guarantee liabilities of the guarantee contracts outstanding and maturity of the longest guarantee contracts as of March 31, 2019 and December 31, 2019: March 31, 2019 December 31, 2019 Millions of yen Fiscal year Millions of yen Fiscal year Guarantees Potential future payment Book value of guarantee liabilities Maturity of the longest contract Potential future payment Book value of guarantee liabilities Maturity of the longest contract Corporate loans ¥ 500,499 ¥ 6,707 2026 ¥ 498,541 ¥ 6,045 2027 Transferred loans 175,623 1,436 2059 195,190 1,408 2060 Consumer loans 343,119 42,400 2030 342,156 42,406 2030 Housing loans 40,395 4,701 2048 11,143 4,513 2048 Other 263 1 2024 186 1 2024 Total ¥ 1,059,899 ¥ 55,245 — ¥ 1,047,216 ¥ 54,373 — |
Assets Provided as Collateral for Short-Term and Long-Term Debt Payables to Financial Institutions | Collateral— Millions of yen March 31, 2019 December 31, 2019 Lease payments, loans and investment in operating leases ¥ 109,210 ¥ 130,832 Investment in securities 160,408 162,317 Property under facility operations 31,264 28,250 Other assets and other 28,895 22,168 Total ¥ 329,777 ¥ 343,567 |
Segment Information (Tables)
Segment Information (Tables) | 9 Months Ended |
Dec. 31, 2019 | |
Segment Reporting [Abstract] | |
Financial Information of Segments | The following table represents the financial data for segments for the nine months ended December 31, 2018: Millions of yen Corporate Financial Services Maintenance Leasing Real Estate Investment and Operation Retail Overseas Business Total Segment revenues ¥ 71,717 ¥ 214,304 ¥ 357,381 ¥ 504,032 ¥ 289,288 ¥ 365,420 ¥ 1,802,142 Segment profits 19,760 30,387 54,721 31,091 66,237 95,621 297,817 The following table represents the financial data for segments for the nine months ended December 31, 2019: Millions of yen Corporate Financial Services Maintenance Leasing Real Estate Investment and Operation Retail Overseas Business Total Segment revenues ¥ 69,721 ¥ 224,017 ¥ 332,039 ¥ 341,302 ¥ 355,468 ¥ 369,192 ¥ 1,691,739 Segment profits 13,159 25,767 56,070 55,590 70,447 131,894 352,927 The following table represents the financial data for segments for the three months ended December 31, 2018: Millions of yen Corporate Financial Services Maintenance Leasing Real Estate Investment and Operation Retail Overseas Business Total Segment revenues ¥ 20,650 ¥ 72,662 ¥ 113,383 ¥ 136,357 ¥ 67,553 ¥ 126,657 ¥ 537,262 Segment profits 2,972 9,804 10,557 6,201 17,062 27,905 74,501 The following table represents the financial data for segments for the three months ended December 31, 2019: Millions of yen Corporate Financial Services Maintenance Leasing Real Estate Investment and Operation Retail Overseas Business Total Segment revenues ¥ 24,031 ¥ 76,801 ¥ 102,851 ¥ 116,245 ¥ 129,888 ¥ 124,837 ¥ 574,653 Segment profits 4,008 9,142 9,892 27,203 27,262 45,031 122,538 The following table presents the financial data on segment assets for segments as of March 31, 2019 and December 31, 2019: Millions of yen Corporate Financial Services Maintenance Leasing Real Estate Investment and Operation Retail Overseas Business Total March 31, 2019 ¥ 959,725 ¥ 873,775 ¥ 720,221 ¥ 733,612 ¥ 3,571,437 ¥ 3,138,928 ¥ 9,997,698 December 31, 2019 1,000,148 900,943 756,092 808,466 4,110,336 3,283,169 10,859,154 |
Reconciliation of Segment Totals to Consolidated Financial Statement Amounts | The reconciliation of segment totals to consolidated financial statement amounts is as follows: Millions of yen Nine months ended Nine months ended Segment revenues: Total revenues for segments ¥ 1,802,142 ¥ 1,691,739 Revenues related to corporate assets 7,894 8,035 Revenues from inter-segment transactions (13,881 ) (15,395 ) Total consolidated revenues ¥ 1,796,155 ¥ 1,684,379 Segment profits: Total profits for segments ¥ 297,817 ¥ 352,927 Corporate profits (losses) (5,190 ) (6,875 ) Net income attributable to the noncontrolling interests and net income attributable to the redeemable noncontrolling interests 2,541 4,406 Total consolidated income before income taxes ¥ 295,168 ¥ 350,458 Millions of yen Three months ended Three months ended Segment revenues: Total revenues for segments ¥ 537,262 ¥ 574,653 Revenues related to corporate assets 1,162 1,805 Revenues from inter-segment transactions (4,283 ) (4,757 ) Total consolidated revenues ¥ 534,141 ¥ 571,701 Segment profits: Total profits for segments ¥ 74,501 ¥ 122,538 Corporate profits (losses) (1,027 ) (2,439 ) Net income attributable to the noncontrolling interests and net income attributable to the redeemable noncontrolling interests 749 1,730 Total consolidated income before income taxes ¥ 74,223 ¥ 121,829 Millions of yen March 31, 2019 December 31, 2019 Segment assets: Total assets for segments ¥ 9,997,698 ¥ 10,859,154 Cash and cash equivalents, restricted cash 1,283,580 1,020,609 Allowance for doubtful receivables on finance leases and probable loan losses (58,011 ) (56,922 ) Trade notes, accounts and other receivable 280,590 276,405 Other corporate assets 671,060 743,712 Total consolidated assets ¥ 12,174,917 ¥ 12,842,958 |
Geographical Revenues and Income before Income Taxes | The following tables represent the consolidated financial data of the Company and its subsidiaries by geographic areas for the nine months ended December 31, 2018, and for the nine months ended December 31, 2019: For the nine months ended December 31, 2018 Millions of yen Nine months ended December 31, 2018 Japan The Americas *1 Other *2 Total Total Revenues ¥ 1,433,808 ¥ 149,509 ¥ 212,838 ¥ 1,796,155 Income before Income Taxes 201,496 55,590 38,082 295,168 For the nine months ended December 31, 2019 Millions of yen Nine months ended December 31, 2019 Japan The Americas *1 Other *2 Total Total Revenues ¥ 1,314,414 ¥ 154,143 ¥ 215,822 ¥ 1,684,379 Income before Income Taxes 219,836 64,739 65,883 350,458 The following tables represent the consolidated financial data of the Company and its subsidiaries by geographic areas for the three months ended December 31, 2018, and for the three months ended December 31, 2019: For the three months ended December 31, 2018 Millions of yen Three months ended December 31, 2018 Japan The Americas *1 Other *2 Total Total Revenues ¥ 408,515 ¥ 50,509 ¥ 75,117 ¥ 534,141 Income before Income Taxes 47,354 11,626 15,243 74,223 For the three months ended December 31, 2019 Millions of yen Three months ended December 31, 2019 Japan The Americas *1 Other *2 Total Total Revenues ¥ 446,798 ¥ 52,623 ¥ 72,280 ¥ 571,701 Income before Income Taxes 78,153 19,307 24,369 121,829 *1 Mainly the United States *2 Mainly Asia, Europe, Australasia and the Middle East |
Disaggregation of Revenues for Revenues From Contracts With Customers, by Goods and Services Category and Geographical Location | The following tables represent the breakdown of revenue by types of contract with customers, products and services, and geographic areas for the nine months ended December 31, 2018, for the nine months ended December 31, 2019: For the nine months ended December 31, 2018 Millions of yen Nine months ended December 31, 2018 Reportable segments Corporate revenue and intersegment transactions Total revenues Corporate Financial Services Maintenance Leasing Real Estate Investment and Operation Retail Overseas Business Total Goods or services category Sales of goods ¥ 3,184 ¥ 3,539 ¥ 4,876 ¥ 371,192 ¥ 0 ¥ 5,996 ¥ 388,787 ¥ 1,167 ¥ 389,954 Real estate sales 0 0 62,842 0 0 402 63,244 0 63,244 Asset management and servicing 0 0 4,458 328 121 143,910 148,817 (66 ) 148,751 Automobile related services 367 45,659 0 139 0 12,752 58,917 (271 ) 58,646 Facilities operation 0 0 79,624 0 0 2,944 82,568 0 82,568 Environment and energy services 2,242 0 165 96,520 0 783 99,710 (619 ) 99,091 Real estate management and brokerage 0 0 78,466 0 0 0 78,466 (1,314 ) 77,152 Real estate contract work 0 0 53,055 0 0 0 53,055 (9 ) 53,046 Other 26,545 6,750 3,334 27,975 2,319 14,949 81,872 (1,511 ) 80,361 Total revenues from contracts with customers 32,338 55,948 286,820 496,154 2,440 181,736 1,055,436 (2,623 ) 1,052,813 Geographical location Japan 32,338 55,675 286,820 495,602 2,440 4,637 877,512 (480 ) 877,032 The Americas 0 0 0 0 0 89,901 89,901 0 89,901 Other 0 273 0 552 0 87,198 88,023 (2,143 ) 85,880 Total revenues from contracts with customers 32,338 55,948 286,820 496,154 2,440 181,736 1,055,436 (2,623 ) 1,052,813 Other revenues * 39,379 158,356 70,561 7,878 286,848 183,684 746,706 (3,364 ) 743,342 Segment revenues /Total revenues ¥ 71,717 ¥ 214,304 ¥ 357,381 ¥ 504,032 ¥ 289,288 ¥ 365,420 ¥ 1,802,142 ¥ (5,987 ) ¥ 1,796,155 For the nine months ended December 31, 2019 Millions of yen Nine months ended December 31, 2019 Reportable segments Corporate revenue and intersegment transactions Total revenues Corporate Financial Services Maintenance Leasing Real Estate Investment and Operation Retail Overseas Business Total Goods or services category Sales of goods ¥ 4,323 ¥ 4,734 ¥ 3,257 ¥ 197,472 ¥ 0 ¥ 3,856 ¥ 213,642 ¥ 1,216 ¥ 214,858 Real estate sales 0 0 64,518 0 0 751 65,269 0 65,269 Asset management and servicing 0 0 5,962 264 122 133,012 139,360 (80 ) 139,280 Automobile related services 372 45,727 0 172 0 12,981 59,252 (296 ) 58,956 Facilities operation 0 0 57,807 0 0 363 58,170 (0 ) 58,170 Environment and energy services 2,298 0 0 105,810 0 787 108,895 (548 ) 108,347 Real estate management and brokerage 0 0 79,648 0 0 0 79,648 (1,790 ) 77,858 Real estate contract work 0 0 65,338 0 0 0 65,338 0 65,338 Other 26,003 7,389 3,046 28,747 3,052 11,079 79,316 (1,191 ) 78,125 Total revenues from contracts with customers 32,996 57,850 279,576 332,465 3,174 162,829 868,890 (2,689 ) 866,201 Geographical location Japan 32,996 57,285 279,576 331,404 3,174 3,146 707,581 (158 ) 707,423 The Americas 0 0 0 0 0 76,367 76,367 0 76,367 Other 0 565 0 1,061 0 83,316 84,942 (2,531 ) 82,411 Total revenues from contracts with customers 32,996 57,850 279,576 332,465 3,174 162,829 868,890 (2,689 ) 866,201 Other revenues * 36,725 166,167 52,463 8,837 352,294 206,363 822,849 (4,671 ) 818,178 Segment revenues /Total revenues ¥ 69,721 ¥ 224,017 ¥ 332,039 ¥ 341,302 ¥ 355,468 ¥ 369,192 ¥ 1,691,739 ¥ (7,360 ) ¥ 1,684,379 For the three months ended December 31, 2018 Millions of yen Three months ended December 31, 2018 Reportable segments Corporate revenue and intersegment transactions Total revenues Corporate Financial Services Maintenance Leasing Real Estate Investment and Operation Retail Overseas Business Total Goods or services category Sales of goods ¥ 1,180 ¥ 1,142 ¥ 1,544 ¥ 94,144 ¥ 0 ¥ 3,881 ¥ 101,891 ¥ 152 ¥ 102,043 Real estate sales 0 0 20,148 0 0 246 20,394 0 20,394 Asset management and servicing 0 0 1,579 93 37 48,402 50,111 (11 ) 50,100 Automobile related services 122 16,027 0 46 0 4,348 20,543 (96 ) 20,447 Facilities operation 0 0 26,860 0 0 977 27,837 (0 ) 27,837 Environment and energy services 551 0 43 31,158 0 207 31,959 (203 ) 31,756 Real estate management and brokerage 0 0 26,350 0 0 0 26,350 (284 ) 26,066 Real estate contract work 0 0 21,015 0 0 0 21,015 (9 ) 21,006 Other 8,028 2,235 1,098 9,184 843 5,950 27,338 (1,530 ) 25,808 Total revenues from contracts with customers 9,881 19,404 98,637 134,625 880 64,011 327,438 (1,981 ) 325,457 Geographical location Japan 9,881 19,331 98,637 134,420 880 1,759 264,908 (1,341 ) 263,567 The Americas 0 0 0 0 0 30,716 30,716 0 30,716 Other 0 73 0 205 0 31,536 31,814 (640 ) 31,174 Total revenues from contracts with customers 9,881 19,404 98,637 134,625 880 64,011 327,438 (1,981 ) 325,457 Other revenues * 10,769 53,258 14,746 1,732 66,673 62,646 209,824 (1,140 ) 208,684 Segment revenues /Total revenues ¥ 20,650 ¥ 72,662 ¥ 113,383 ¥ 136,357 ¥ 67,553 ¥ 126,657 ¥ 537,262 ¥ (3,121 ) ¥ 534,141 For the three months ended December 31, 2019 Millions of yen Three months ended December 31, 2019 Reportable segments Corporate revenue and intersegment transactions Total revenues Corporate Financial Services Maintenance Leasing Real Estate Investment and Operation Retail Overseas Business Total Goods or services category Sales of goods ¥ 1,506 ¥ 1,528 ¥ 346 ¥ 71,352 ¥ 0 ¥ 564 ¥ 75,296 ¥ 139 ¥ 75,435 Real estate sales 0 0 19,948 0 0 250 20,198 0 20,198 Asset management and servicing 0 0 2,060 85 42 47,389 49,576 (38 ) 49,538 Automobile related services 121 16,254 0 48 0 4,351 20,774 (97 ) 20,677 Facilities operation 0 0 16,248 0 0 107 16,355 0 16,355 Environment and energy services 610 0 0 31,591 0 206 32,407 (187 ) 32,220 Real estate management and brokerage 0 0 26,782 0 0 0 26,782 (390 ) 26,392 Real estate contract work 0 0 22,657 0 0 0 22,657 0 22,657 Other 9,312 2,551 967 9,138 1,087 3,522 26,577 (904 ) 25,673 Total revenues from contracts with customers 11,549 20,333 89,008 112,214 1,129 56,389 290,622 (1,477 ) 289,145 Geographical location Japan 11,549 20,142 89,008 111,971 1,129 980 234,779 (679 ) 234,100 The Americas 0 0 0 0 0 27,374 27,374 0 27,374 Other 0 191 0 243 0 28,035 28,469 (798 ) 27,671 Total revenues from contracts with customers 11,549 20,333 89,008 112,214 1,129 56,389 290,622 (1,477 ) 289,145 Other revenues * 12,482 56,468 13,843 4,031 128,759 68,448 284,031 (1,475 ) 282,556 Segment revenues /Total revenues ¥ 24,031 ¥ 76,801 ¥ 102,851 ¥ 116,245 ¥ 129,888 ¥ 124,837 ¥ 574,653 ¥ (2,952 ) ¥ 571,701 * Other revenues include revenues that are not in the scope of revenue from contracts with customers, such as life insurance premiums and related investment income, operating leases, finance revenues that include interest income, and others. |
Overview of Accounting Princi_2
Overview of Accounting Principles Utilized - Additional Information (Detail) | 9 Months Ended |
Dec. 31, 2019 | |
Goodwill | Maximum | |
Significant Accounting Policies [Line Items] | |
Goodwill amortization period | 20 years |
Significant Accounting and Re_3
Significant Accounting and Reporting Policies - Additional Information (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2019 | |
Significant Accounting Policies [Line Items] | |||||
A maximum lag period of recognizing the results of subsidiaries and affiliates | 3 months | ||||
Increase in additional paid-in capital had such stock splits made prior to October 1, 2001 | ¥ 24,674 | ||||
Residential condominiums under development | ¥ 74,843 | 74,843 | ¥ 55,860 | ||
Finished goods | 57,115 | 57,115 | 59,835 | ||
Write-down on residential condominiums under development | ¥ 123 | ¥ 159 | ¥ 277 | ¥ 269 | |
Effective tax rate | 29.30% | (11.00%) | 29.30% | 19.00% | |
NationalCorporateTaxRate | 24.00% | 24.00% | 24.00% | 24.00% | |
Inhabitant tax | 4.00% | 4.00% | 4.00% | 4.00% | |
Statutory income tax rate | 31.50% | 31.50% | 31.50% | 31.50% | |
Deductible enterprise tax | 4.00% | 4.00% | 4.00% | 4.00% | |
Goodwill acquired | ¥ 426,111 | ¥ 426,111 | 430,679 | ||
Other intangible assets | 398,701 | 398,701 | 427,098 | ||
Operating Lease, Liability | 271,093 | 271,093 | |||
Loans held for sale in installment loans | 80,234 | 80,234 | 54,311 | ||
Aggregate loan fair value | 43,238 | 43,238 | 38,671 | ||
Decrease in provision for income taxes | ¥ 27,376 | 27,376 | |||
Accounting Standards Update 2016-02 | |||||
Significant Accounting Policies [Line Items] | |||||
Increase in lease liabilities | 284,867 | ||||
Investment in operating leases | |||||
Significant Accounting Policies [Line Items] | |||||
Right of use assets in investment in operating leases | 128,951 | 128,951 | |||
Increase in right of use assets | 134,345 | ||||
Accumulated depreciation of Investment in operating leases | 659,318 | 634,478 | |||
Office facilities subject to operating lease | |||||
Significant Accounting Policies [Line Items] | |||||
Right of Use Assets in Office Facilities | 75,816 | 75,816 | |||
Office facilities subject to operating lease | Accounting Standards Update 2016-02 | |||||
Significant Accounting Policies [Line Items] | |||||
Increase (decrease) In right of use assets in office facilities | 75,805 | ||||
Property under Facility Operations | |||||
Significant Accounting Policies [Line Items] | |||||
Accumulated depreciation | 99,748 | 99,748 | 102,185 | ||
Right of use assets in property under facility operations | 69,719 | 69,719 | |||
Property under Facility Operations | Accounting Standards Update 2016-02 | |||||
Significant Accounting Policies [Line Items] | |||||
Increase (decrease) in right of use assets in property under facility operations | 77,989 | ||||
Office Facilities | |||||
Significant Accounting Policies [Line Items] | |||||
Accumulated depreciation | ¥ 63,823 | ¥ 63,823 | ¥ 54,499 | ||
Minimum | |||||
Significant Accounting Policies [Line Items] | |||||
Income tax settlement by tax authority | 50.00% |
Fair Value Measurements (Record
Fair Value Measurements (Recorded Amounts of Major Financial Assets and Liabilities Measured at Fair Value on Recurring Basis) (Detail) - JPY (¥) ¥ in Millions | Dec. 31, 2019 | Mar. 31, 2019 | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | ¥ 25,583 | ¥ 27,367 | ||
Derivative assets, gross amounts recognized | 15,683 | 15,495 | ||
Derivative assets, gross amounts offset in the consolidated balance sheets, assets | (514) | (1,497) | ||
Derivative assets, net amounts presented in the consolidated balance sheets, assets | 15,169 | 13,998 | ||
Other assets | 9,219 | 12,449 | ||
Derivative liabilities, gross amounts recognized | 51,188 | 25,958 | ||
Derivative liabilities, gross amounts offset in the consolidated balance sheets, liabilities | (514) | (1,497) | ||
Derivative liabilities, net amounts presented in the consolidated balance sheets, liabilities | 50,674 | 24,461 | ||
Policy Liabilities and Policy Account Balances | 333,017 | 360,198 | ||
Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Derivative assets, gross amounts recognized | 15,683 | 15,495 | ||
Derivative assets, gross amounts offset in the consolidated balance sheets, assets | [1] | (514) | (1,497) | |
Derivative assets, net amounts presented in the consolidated balance sheets, assets | 15,169 | 13,998 | ||
Other assets | 9,219 | 12,449 | ||
Total financial assets | 2,063,293 | 1,758,016 | ||
Derivative liabilities, gross amounts recognized | 51,188 | 25,958 | ||
Derivative liabilities, gross amounts offset in the consolidated balance sheets, liabilities | [1] | (514) | (1,497) | |
Derivative liabilities, net amounts presented in the consolidated balance sheets, liabilities | 50,674 | 24,461 | ||
Policy Liabilities and Policy Account Balances | 333,017 | 360,198 | ||
Total financial liabilities | 384,205 | 386,156 | ||
Interest rate swap agreements | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Derivative assets, gross amounts recognized | 167 | 138 | ||
Derivative liabilities, gross amounts recognized | 24,768 | 17,439 | ||
Futures, foreign exchange contracts | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Derivative assets, gross amounts recognized | 403 | 3,007 | ||
Derivative liabilities, gross amounts recognized | 14,495 | 5,336 | ||
Corporate debt securities | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | [2] | 594,755 | ||
Equity securities | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | [3],[4] | 417,433 | 425,593 | |
Japanese and foreign government bond securities | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | [5] | 591,235 | ||
CMBS and RMBS in the Americas | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | 57,962 | |||
Options held/written and other | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Derivative assets, gross amounts recognized | 13,692 | 11,140 | ||
Derivative liabilities, gross amounts recognized | 10,960 | 2,809 | ||
Reinsurance Recoverable | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Other assets | 9,219 | 12,449 | [6] | |
Reinsurance Recoverable | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Other assets | [6] | 9,219 | ||
Credit derivatives held/written | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Derivative assets, gross amounts recognized | 7 | |||
Derivative liabilities, gross amounts recognized | 10 | |||
Variable Annuity and Variable Life Insurance Contracts | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Policy Liabilities and Policy Account Balances | 333,017 | 360,198 | ||
Variable Annuity and Variable Life Insurance Contracts | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Policy Liabilities and Policy Account Balances | [7] | 333,017 | 360,198 | |
Loans Held-for-Sale | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | [8] | 43,238 | 38,671 | |
Trading securities | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | 1,564 | |||
Available-for-sale securities | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | 1,264,244 | |||
Available-for-sale securities | Corporate debt securities | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | [2] | 487,997 | ||
Available-for-sale securities | Japanese and foreign government bond securities | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | [5] | 430,851 | ||
Available-for-sale securities | Japanese prefectural and foreign municipal bond securities | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | 238,288 | 193,305 | ||
Available-for-sale securities | CMBS and RMBS in the Americas | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | 61,479 | |||
Available-for-sale securities | Other asset-backed securities and debt securities | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | 90,612 | |||
Other securities | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | 94,109 | |||
Trading Debt Securities | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | 1,371 | |||
Available-for-sale Debt Securities | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | 1,576,349 | |||
Foreign currency swap agreements | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Derivative assets, gross amounts recognized | 1,421 | 1,203 | ||
Derivative liabilities, gross amounts recognized | 965 | 364 | ||
Level 1 | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Derivative assets, net amounts presented in the consolidated balance sheets, assets | [9] | 0 | 0 | |
Other assets | 0 | |||
Derivative liabilities, net amounts presented in the consolidated balance sheets, liabilities | [9] | 0 | 0 | |
Level 1 | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Derivative assets, gross amounts recognized | 29 | 299 | ||
Derivative assets, gross amounts offset in the consolidated balance sheets, assets | [1] | 0 | 0 | |
Derivative assets, net amounts presented in the consolidated balance sheets, assets | 0 | |||
Other assets | 0 | |||
Total financial assets | 95,744 | 93,761 | ||
Derivative liabilities, gross amounts recognized | 157 | 522 | ||
Derivative liabilities, gross amounts offset in the consolidated balance sheets, liabilities | [1] | 0 | 0 | |
Derivative liabilities, net amounts presented in the consolidated balance sheets, liabilities | 0 | 0 | ||
Policy Liabilities and Policy Account Balances | 0 | 0 | ||
Total financial liabilities | 157 | 522 | ||
Level 1 | Interest rate swap agreements | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Derivative assets, gross amounts recognized | 0 | 0 | ||
Derivative liabilities, gross amounts recognized | 0 | 0 | ||
Level 1 | Futures, foreign exchange contracts | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Derivative assets, gross amounts recognized | 29 | 299 | ||
Derivative liabilities, gross amounts recognized | 157 | 522 | ||
Level 1 | Corporate debt securities | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | [2] | 18,796 | ||
Level 1 | Equity securities | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | [3],[4] | 73,334 | 68,631 | |
Level 1 | Japanese and foreign government bond securities | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | [5] | 3,585 | ||
Level 1 | Japanese prefectural and foreign municipal bond securities | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | 0 | |||
Level 1 | CMBS and RMBS in the Americas | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | 0 | |||
Level 1 | Options held/written and other | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Derivative assets, gross amounts recognized | 0 | 0 | ||
Derivative liabilities, gross amounts recognized | 0 | 0 | ||
Level 1 | Reinsurance Recoverable | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Other assets | [6] | 0 | ||
Level 1 | Reinsurance Recoverable | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Other assets | [6] | 0 | ||
Level 1 | Credit derivatives held/written | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Derivative assets, gross amounts recognized | 0 | |||
Derivative liabilities, gross amounts recognized | 0 | |||
Level 1 | Variable Annuity and Variable Life Insurance Contracts | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Policy Liabilities and Policy Account Balances | [7] | 0 | 0 | |
Level 1 | Loans Held-for-Sale | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | [8] | 0 | 0 | |
Level 1 | Trading securities | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | 0 | |||
Level 1 | Available-for-sale securities | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | 24,831 | |||
Level 1 | Available-for-sale securities | Corporate debt securities | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | [2] | 21,604 | ||
Level 1 | Available-for-sale securities | Japanese and foreign government bond securities | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | [5] | 3,227 | ||
Level 1 | Available-for-sale securities | Japanese prefectural and foreign municipal bond securities | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | 0 | |||
Level 1 | Available-for-sale securities | CMBS and RMBS in the Americas | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | 0 | |||
Level 1 | Available-for-sale securities | Other asset-backed securities and debt securities | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | 0 | |||
Level 1 | Other securities | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | 0 | |||
Level 1 | Trading Debt Securities | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | 0 | |||
Level 1 | Available-for-sale Debt Securities | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | 22,381 | |||
Level 1 | Foreign currency swap agreements | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Derivative assets, gross amounts recognized | 0 | 0 | ||
Derivative liabilities, gross amounts recognized | 0 | 0 | ||
Level 2 | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Derivative assets, net amounts presented in the consolidated balance sheets, assets | [9] | 0 | 0 | |
Other assets | 0 | |||
Derivative liabilities, net amounts presented in the consolidated balance sheets, liabilities | [9] | 0 | 0 | |
Level 2 | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Derivative assets, gross amounts recognized | 5,210 | 9,924 | ||
Derivative assets, gross amounts offset in the consolidated balance sheets, assets | [1] | 0 | 0 | |
Derivative assets, net amounts presented in the consolidated balance sheets, assets | 0 | |||
Other assets | 0 | |||
Total financial assets | 1,780,738 | 1,484,894 | ||
Derivative liabilities, gross amounts recognized | 51,004 | 25,436 | ||
Derivative liabilities, gross amounts offset in the consolidated balance sheets, liabilities | [1] | 0 | 0 | |
Derivative liabilities, net amounts presented in the consolidated balance sheets, liabilities | 0 | 0 | ||
Policy Liabilities and Policy Account Balances | 0 | 0 | ||
Total financial liabilities | 51,004 | 25,436 | ||
Level 2 | Interest rate swap agreements | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Derivative assets, gross amounts recognized | 167 | 138 | ||
Derivative liabilities, gross amounts recognized | 24,768 | 17,439 | ||
Level 2 | Futures, foreign exchange contracts | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Derivative assets, gross amounts recognized | 374 | 2,708 | ||
Derivative liabilities, gross amounts recognized | 14,338 | 4,814 | ||
Level 2 | Corporate debt securities | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | [2] | 571,743 | ||
Level 2 | Equity securities | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | [3],[4] | 277,917 | 295,769 | |
Level 2 | Japanese and foreign government bond securities | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | [5] | 587,650 | ||
Level 2 | Japanese prefectural and foreign municipal bond securities | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | 235,437 | |||
Level 2 | CMBS and RMBS in the Americas | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | 57,962 | |||
Level 2 | Options held/written and other | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Derivative assets, gross amounts recognized | 3,248 | 5,868 | ||
Derivative liabilities, gross amounts recognized | 10,933 | 2,809 | ||
Level 2 | Reinsurance Recoverable | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Other assets | [6] | 0 | ||
Level 2 | Reinsurance Recoverable | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Other assets | [6] | 0 | ||
Level 2 | Credit derivatives held/written | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Derivative assets, gross amounts recognized | 7 | |||
Derivative liabilities, gross amounts recognized | 10 | |||
Level 2 | Variable Annuity and Variable Life Insurance Contracts | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Policy Liabilities and Policy Account Balances | [7] | 0 | 0 | |
Level 2 | Loans Held-for-Sale | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | [8] | 43,238 | 38,671 | |
Level 2 | Trading securities | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | 1,564 | |||
Level 2 | Available-for-sale securities | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | 1,138,966 | |||
Level 2 | Available-for-sale securities | Corporate debt securities | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | [2] | 459,235 | ||
Level 2 | Available-for-sale securities | Japanese and foreign government bond securities | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | [5] | 427,624 | ||
Level 2 | Available-for-sale securities | Japanese prefectural and foreign municipal bond securities | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | 190,417 | |||
Level 2 | Available-for-sale securities | CMBS and RMBS in the Americas | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | 61,479 | |||
Level 2 | Available-for-sale securities | Other asset-backed securities and debt securities | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | 211 | |||
Level 2 | Other securities | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | 210 | |||
Level 2 | Trading Debt Securities | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | 1,371 | |||
Level 2 | Available-for-sale Debt Securities | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | 1,453,002 | |||
Level 2 | Foreign currency swap agreements | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Derivative assets, gross amounts recognized | 1,421 | 1,203 | ||
Derivative liabilities, gross amounts recognized | 965 | 364 | ||
Level 3 | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Derivative assets, net amounts presented in the consolidated balance sheets, assets | [9] | 0 | 0 | |
Other assets | 12,449 | |||
Total financial assets | 186,811 | 179,361 | ||
Derivative liabilities, net amounts presented in the consolidated balance sheets, liabilities | [9] | 0 | 0 | |
Total financial liabilities | 333,044 | 360,198 | ||
Level 3 | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Derivative assets, gross amounts recognized | 10,444 | 5,272 | ||
Derivative assets, gross amounts offset in the consolidated balance sheets, assets | [1] | 0 | 0 | |
Derivative assets, net amounts presented in the consolidated balance sheets, assets | 0 | |||
Other assets | 9,219 | |||
Total financial assets | 186,811 | 179,361 | ||
Derivative liabilities, gross amounts recognized | 27 | 0 | ||
Derivative liabilities, gross amounts offset in the consolidated balance sheets, liabilities | [1] | 0 | 0 | |
Derivative liabilities, net amounts presented in the consolidated balance sheets, liabilities | 0 | 0 | ||
Policy Liabilities and Policy Account Balances | 333,017 | 360,198 | ||
Total financial liabilities | 333,044 | 360,198 | ||
Level 3 | Interest rate swap agreements | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Derivative assets, gross amounts recognized | 0 | 0 | ||
Derivative liabilities, gross amounts recognized | 0 | 0 | ||
Level 3 | Futures, foreign exchange contracts | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Derivative assets, gross amounts recognized | 0 | 0 | ||
Derivative liabilities, gross amounts recognized | 0 | 0 | ||
Level 3 | Corporate debt securities | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | [2] | 4,216 | ||
Level 3 | Equity securities | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | [3],[4] | 66,182 | 61,193 | |
Level 3 | Japanese and foreign government bond securities | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | [5] | 0 | ||
Level 3 | Japanese prefectural and foreign municipal bond securities | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | 2,851 | |||
Level 3 | CMBS and RMBS in the Americas | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | 0 | |||
Level 3 | Options held/written and other | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Derivative assets, gross amounts recognized | 10,444 | 5,272 | ||
Derivative liabilities, gross amounts recognized | 27 | 0 | ||
Level 3 | Reinsurance Recoverable | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Other assets | [6] | 12,449 | ||
Level 3 | Reinsurance Recoverable | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Other assets | [6] | 9,219 | ||
Level 3 | Credit derivatives held/written | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Derivative assets, gross amounts recognized | 0 | |||
Derivative liabilities, gross amounts recognized | 0 | |||
Level 3 | Variable Annuity and Variable Life Insurance Contracts | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Policy Liabilities and Policy Account Balances | [7] | 333,017 | 360,198 | |
Level 3 | Loans Held-for-Sale | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | [8] | 0 | 0 | |
Level 3 | Trading securities | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | 0 | |||
Level 3 | Available-for-sale securities | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | 100,447 | |||
Level 3 | Available-for-sale securities | Corporate debt securities | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | [2] | 7,158 | ||
Level 3 | Available-for-sale securities | Japanese and foreign government bond securities | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | [5] | 0 | ||
Level 3 | Available-for-sale securities | Japanese prefectural and foreign municipal bond securities | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | 2,888 | |||
Level 3 | Available-for-sale securities | CMBS and RMBS in the Americas | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | 0 | |||
Level 3 | Available-for-sale securities | Other asset-backed securities and debt securities | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | 90,401 | |||
Level 3 | Other securities | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | 93,899 | |||
Level 3 | Trading Debt Securities | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | 0 | |||
Level 3 | Available-for-sale Debt Securities | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Fair value measured on recurring basis investments | 100,966 | |||
Level 3 | Foreign currency swap agreements | Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Derivative assets, gross amounts recognized | 0 | 0 | ||
Derivative liabilities, gross amounts recognized | ¥ 0 | ¥ 0 | ||
[1] | It represents the amount offset under counterparty netting of derivative assets and liabilities. | |||
[2] | A certain subsidiary elected the fair value option for investments in foreign corporate debt securities included in available-for-sale debt securities. Included in “Gains on investment securities and dividends” in the consolidated statements of income were losses of ¥136 million and ¥0 million from the change in the fair value of those investments for the nine months ended December 31, 2018 and 2019, respectively. Included in “Gains on investment securities and dividends” in the consolidated statements of income were losses of ¥393 million and ¥0 million from the change in the fair value of those investments for the three months ended December 31, 2018 and 2019, respectively. The amounts of aggregate fair value elected the fair value option were ¥21,136 million and ¥0 million as of March 31, 2019 and December 31, 2019, respectively. | |||
[3] | Certain subsidiaries elected the fair value option for certain investments in investment funds included in equity securities. Included in “Gains on investment securities and dividends” in the consolidated statements of income were gains of ¥906 million and ¥0 million from the change in the fair value of those investments for the nine months ended December 31, 2018 and 2019, respectively. Included in “Gains on investment securities and dividends” in the consolidated statements of income were gains of ¥265 million and ¥0 million from the change in the fair value of those investments for the three months ended December 31, 2018 and 2019, respectively. The amounts of aggregate fair value elected the fair value option were ¥5,811 million and ¥0 million as of March 31, 2019 and December 31, 2019, respectively. | |||
[4] | The amounts of investment funds measured at net asset value per share which are not included in the above tables were ¥12,100 million and ¥0 as of March 31, 2019 and December 31, 2019, respectively. | |||
[5] | A certain subsidiary elected the fair value option for investments in foreign government bond securities included in available-for-sale debt securities. Included in “Gains on investment securities and dividends” in the consolidated statements of income were losses of ¥21 million and ¥0 million from the change in the fair value of those investments for the nine months ended December 31, 2018 and 2019, respectively. Included in “Gains on investment securities and dividends” in the consolidated statements of income were losses of ¥12 million and ¥0 from the change in the fair value of those investments for the three months ended December 31, 2018 and 2019, respectively. The amounts of aggregate fair value elected the fair value option were ¥420 million and ¥0 million as of March 31, 2019 and December 31, 2019, respectively. | |||
[6] | Certain subsidiaries elected the fair value option for certain reinsurance contracts held. The fair value of the reinsurance contracts elected for the fair value option in other assets were ¥12,449 million and ¥0 million as of March 31, 2019 and December 31, 2019, respectively. For the effect of changes in the fair value of those reinsurance contracts on earnings during the nine and three months ended December 31, 2018 and 2019, see Note 17 “Life Insurance Operations.” | |||
[7] | Certain subsidiaries elected the fair value option for the entire variable annuity and variable life insurance contracts held in order to match the earnings recognized for the changes in the fair value of policy liabilities and policy account balances with earnings recognized for gains or losses from the investment assets managed on behalf of variable annuity and variable life policyholders, derivative contracts and the changes in the fair value of reinsurance contracts. The fair value of the variable annuity and variable life insurance contracts elected for the fair value option in policy liabilities and policy account balances were ¥360,198 million and ¥0 million as of March 31, 2019 and December 31, 2019, respectively. For the effect of changes in the fair value of the variable annuity and variable life insurance contracts on earnings during the nine and three months ended December 31, 2018 and 2019, see Note 17 “Life Insurance Operations.” | |||
[8] | A certain subsidiary elected the fair value option on certain loans held for sale. These loans are multi-family and seniors housing loans and are sold to Federal National Mortgage Association (“Fannie Mae”) or institutional investors. Included in “Other (income) and expense, net” in the consolidated statements of income were gains of ¥495 million and ¥0 million from the change in the fair value of the loans for the nine months ended December 31, 2018 and 2019, respectively. Included in “Other (income) and expense, net” in the consolidated statements of income were a gain of ¥294 million and a loss of ¥0 million from the change in the fair value of the loans for the three months ended December 31, 2018 and 2019, respectively. No gains or losses were recognized in earnings during the nine months ended December 31, 2018 and 2019 attributable to changes in instrument-specific credit risk. The amounts of aggregate unpaid principal balance and aggregate fair value of the loans held for sale as of March 31, 2019, were ¥37,865 million and ¥38,671 million, respectively, and the amount of the aggregate fair value exceeded the amount of aggregate unpaid principal balance by ¥806 million. The amounts of aggregate unpaid principal balance and aggregate fair value of the loans held for sale as of December 31, 2019, were ¥0 million and ¥0 million, respectively, and the amount of the aggregate fair value exceeded the amount of aggregate unpaid principal balance by ¥0 million. As of March 31, 2019 and December 31, 2019, there were no loans that are 90 days or more past due or, in non-accrual status. | |||
[9] | It represents the amount after offset under counterparty netting of derivative assets and liabilities. For the information of input level before netting, see Note 3 “Fair Value Measurements.” |
Fair Value Measurements (Reco_2
Fair Value Measurements (Recorded Amounts of Major Financial Assets and Liabilities Measured at Fair Value on Recurring Basis) (Parenthetical) (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | |||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2019 | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||||||
Aggregate unpaid loan principal balance | ¥ 1,765 | ¥ 1,765 | ¥ 43,238 | ||||
Aggregate loan fair value | 43,238 | 43,238 | 38,671 | ||||
Investment in securities, measured at fair value | 25,583 | 25,583 | 27,367 | ||||
Other assets | 9,219 | 9,219 | 12,449 | ||||
Policy Liabilities and Policy Account Balances | 333,017 | 333,017 | 360,198 | ||||
Loans Held-for-Sale | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||||||
Aggregate loan fair value | 38,671 | 38,671 | 37,865 | ||||
Other securities | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||||||
Gains (losses) from changes in instrument-specific credit risk | 622 | ¥ 294 | |||||
Reinsurance Recoverable | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||||||
Other assets | 9,219 | 9,219 | 12,449 | [1] | |||
Variable Annuity and Variable Life Insurance Contracts | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||||||
Policy Liabilities and Policy Account Balances | 333,017 | 333,017 | 360,198 | ||||
Equity securities | Available-for-sale securities | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||||||
Gains (losses) from change in fair value | 393 | ||||||
Equity securities | Investment funds | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||||||
Gains (losses) from change in fair value | 121 | 265 | 533 | ||||
Investment in securities, measured at fair value | 5,997 | 906 | 5,997 | ¥ 906 | 5,811 | ||
Investment in securities | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||||||
Amount by which aggregate fair value of loan exceeds aggregate unpaid principal balance | 790 | 790 | 420 | ||||
Investment in securities, measured at fair value | 11,878 | 11,878 | 12,100 | ||||
Fair Value, Measurements, Recurring | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||||||
Amount by which aggregate fair value of loan exceeds aggregate unpaid principal balance | 41,473 | 41,473 | 806 | ||||
Other assets | 9,219 | 9,219 | 12,449 | ||||
Policy Liabilities and Policy Account Balances | 333,017 | 333,017 | 360,198 | ||||
Fair Value, Measurements, Recurring | Loans Held-for-Sale | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||||||
Gains (losses) from change in fair value | 971 | 495 | |||||
Investment in securities, measured at fair value | [2] | 43,238 | 43,238 | 38,671 | |||
Fair Value, Measurements, Recurring | Available-for-sale securities | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||||||
Investment in securities, measured at fair value | 1,264,244 | ||||||
Fair Value, Measurements, Recurring | Other securities | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||||||
Investment in securities, measured at fair value | 94,109 | 94,109 | |||||
Fair Value, Measurements, Recurring | Available-for-sale Debt Securities | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||||||
Investment in securities, measured at fair value | 1,576,349 | 1,576,349 | |||||
Fair Value, Measurements, Recurring | Reinsurance Recoverable | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||||||
Other assets | [1] | 9,219 | 9,219 | ||||
Fair Value, Measurements, Recurring | Variable Annuity and Variable Life Insurance Contracts | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||||||
Policy Liabilities and Policy Account Balances | [3] | 333,017 | 333,017 | 360,198 | |||
Fair Value, Measurements, Recurring | Equity securities | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||||||
Investment in securities, measured at fair value | [4],[5] | 417,433 | 417,433 | 425,593 | |||
Fair Value, Measurements, Recurring | Investment in securities | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||||||
Gains (losses) from change in fair value | 231 | ||||||
Fair Value, Measurements, Recurring | Foreign government bond securities | Available-for-sale Debt Securities | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||||||
Gains (losses) from change in fair value | 7 | 21 | |||||
Foreign Corporate Debt Securities | Available-for-sale securities | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||||||
Gains (losses) from change in fair value | 7 | ¥ (12) | |||||
Foreign Corporate Debt Securities | Fair Value, Measurements, Recurring | Available-for-sale Debt Securities | |||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||||||
Gains (losses) from change in fair value | 1,048 | ¥ 136 | |||||
Investment in securities, measured at fair value | ¥ 18,796 | ¥ 18,796 | ¥ 21,136 | ||||
[1] | Certain subsidiaries elected the fair value option for certain reinsurance contracts held. The fair value of the reinsurance contracts elected for the fair value option in other assets were ¥12,449 million and ¥0 million as of March 31, 2019 and December 31, 2019, respectively. For the effect of changes in the fair value of those reinsurance contracts on earnings during the nine and three months ended December 31, 2018 and 2019, see Note 17 “Life Insurance Operations.” | ||||||
[2] | A certain subsidiary elected the fair value option on certain loans held for sale. These loans are multi-family and seniors housing loans and are sold to Federal National Mortgage Association (“Fannie Mae”) or institutional investors. Included in “Other (income) and expense, net” in the consolidated statements of income were gains of ¥495 million and ¥0 million from the change in the fair value of the loans for the nine months ended December 31, 2018 and 2019, respectively. Included in “Other (income) and expense, net” in the consolidated statements of income were a gain of ¥294 million and a loss of ¥0 million from the change in the fair value of the loans for the three months ended December 31, 2018 and 2019, respectively. No gains or losses were recognized in earnings during the nine months ended December 31, 2018 and 2019 attributable to changes in instrument-specific credit risk. The amounts of aggregate unpaid principal balance and aggregate fair value of the loans held for sale as of March 31, 2019, were ¥37,865 million and ¥38,671 million, respectively, and the amount of the aggregate fair value exceeded the amount of aggregate unpaid principal balance by ¥806 million. The amounts of aggregate unpaid principal balance and aggregate fair value of the loans held for sale as of December 31, 2019, were ¥0 million and ¥0 million, respectively, and the amount of the aggregate fair value exceeded the amount of aggregate unpaid principal balance by ¥0 million. As of March 31, 2019 and December 31, 2019, there were no loans that are 90 days or more past due or, in non-accrual status. | ||||||
[3] | Certain subsidiaries elected the fair value option for the entire variable annuity and variable life insurance contracts held in order to match the earnings recognized for the changes in the fair value of policy liabilities and policy account balances with earnings recognized for gains or losses from the investment assets managed on behalf of variable annuity and variable life policyholders, derivative contracts and the changes in the fair value of reinsurance contracts. The fair value of the variable annuity and variable life insurance contracts elected for the fair value option in policy liabilities and policy account balances were ¥360,198 million and ¥0 million as of March 31, 2019 and December 31, 2019, respectively. For the effect of changes in the fair value of the variable annuity and variable life insurance contracts on earnings during the nine and three months ended December 31, 2018 and 2019, see Note 17 “Life Insurance Operations.” | ||||||
[4] | Certain subsidiaries elected the fair value option for certain investments in investment funds included in equity securities. Included in “Gains on investment securities and dividends” in the consolidated statements of income were gains of ¥906 million and ¥0 million from the change in the fair value of those investments for the nine months ended December 31, 2018 and 2019, respectively. Included in “Gains on investment securities and dividends” in the consolidated statements of income were gains of ¥265 million and ¥0 million from the change in the fair value of those investments for the three months ended December 31, 2018 and 2019, respectively. The amounts of aggregate fair value elected the fair value option were ¥5,811 million and ¥0 million as of March 31, 2019 and December 31, 2019, respectively. | ||||||
[5] | The amounts of investment funds measured at net asset value per share which are not included in the above tables were ¥12,100 million and ¥0 as of March 31, 2019 and December 31, 2019, respectively. |
Fair Value Measurements (Reconc
Fair Value Measurements (Reconciliation of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs) (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | |
Equity securities | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning Balance | ¥ 65,854 | ¥ 44,559 | ¥ 61,193 | |
Gains or losses (realized/ unrealized), included in earnings | 929 | 241 | 5,594 | |
Gains or losses (realized/ unrealized), included in other comprehensive income | 1,283 | (1,056) | (131) | |
Gains or losses (realized/ unrealized), total | 2,212 | (815) | 5,463 | |
Purchases | 4,639 | 17,535 | 10,075 | |
Sales | (3,368) | (4,659) | (5,760) | |
Settlements | (3,155) | 0 | (4,789) | |
Transfers in and/or out of Level 3 (net) | 0 | 0 | 0 | |
Ending Balance | 66,182 | 56,620 | 66,182 | ¥ 56,620 |
Change in unrealized gains or losses included in earnings for assets and liabilities still held at the end of period | 1,137 | 140 | 5,532 | |
Investment funds | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning Balance | 65,854 | 44,559 | ||
Gains or losses (realized/ unrealized), included in earnings | 929 | 241 | ||
Gains or losses (realized/ unrealized), included in other comprehensive income | 1,283 | (1,056) | ||
Gains or losses (realized/ unrealized), total | 2,212 | (815) | ||
Purchases | 4,639 | 17,535 | ||
Sales | (3,368) | (4,659) | ||
Settlements | (3,155) | 0 | ||
Transfers in and/or out of Level 3 (net) | 0 | 0 | ||
Ending Balance | 66,182 | 56,620 | 66,182 | 56,620 |
Change in unrealized gains or losses included in earnings for assets and liabilities still held at the end of period | 1,137 | 140 | ||
Investment funds | Equity securities | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning Balance | 61,193 | |||
Gains or losses (realized/ unrealized), included in earnings | 5,594 | |||
Gains or losses (realized/ unrealized), included in other comprehensive income | (131) | |||
Gains or losses (realized/ unrealized), total | 5,463 | |||
Purchases | 10,075 | |||
Sales | (5,760) | |||
Settlements | (4,789) | |||
Transfers in and/or out of Level 3 (net) | 0 | |||
Ending Balance | 66,182 | 66,182 | ||
Change in unrealized gains or losses included in earnings for assets and liabilities still held at the end of period | 5,532 | |||
Options held/written and other | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning Balance | 16,275 | 743 | 5,272 | |
Gains or losses (realized/ unrealized), included in earnings | (6,123) | 1,021 | 5,238 | |
Gains or losses (realized/ unrealized), included in other comprehensive income | 265 | 0 | (93) | |
Gains or losses (realized/ unrealized), total | (5,858) | 1,021 | 5,145 | |
Purchases | 0 | 0 | 0 | |
Sales | 0 | 0 | 0 | |
Settlements | 0 | (375) | 0 | |
Transfers in and/or out of Level 3 (net) | 0 | 0 | 0 | |
Ending Balance | 10,417 | 1,389 | 10,417 | 1,389 |
Change in unrealized gains or losses included in earnings for assets and liabilities still held at the end of period | (6,123) | 1,021 | 5,238 | |
Other assets | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning Balance | 11,382 | 11,121 | 12,449 | 15,008 |
Gains or losses (realized/ unrealized), included in earnings | (2,874) | 6,073 | (5,355) | 480 |
Gains or losses (realized/ unrealized), included in other comprehensive income | 0 | 0 | 0 | 0 |
Gains or losses (realized/ unrealized), total | (2,874) | 6,073 | (5,355) | 480 |
Purchases | 750 | 847 | 2,303 | 2,800 |
Sales | 0 | 0 | 0 | 0 |
Settlements | (39) | (239) | (178) | (486) |
Transfers in and/or out of Level 3 (net) | 0 | 0 | 0 | 0 |
Ending Balance | 9,219 | 17,802 | 9,219 | 17,802 |
Change in unrealized gains or losses included in earnings for assets and liabilities still held at the end of period | (2,874) | 6,073 | (5,355) | 480 |
Variable Annuity and Variable Life Insurance Contracts | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning Balance | 360,198 | 444,010 | ||
Gains or losses (realized/ unrealized), included in earnings | (12,426) | 18,993 | ||
Gains or losses (realized/ unrealized), included in other comprehensive income | 189 | 422 | ||
Gains or losses (realized/ unrealized), total | (12,237) | 19,415 | ||
Purchases | 0 | 0 | ||
Sales | 0 | 0 | ||
Settlements | (39,418) | (62,522) | ||
Transfers in and/or out of Level 3 (net) | 0 | 0 | ||
Ending Balance | 333,017 | 362,073 | 333,017 | 362,073 |
Change in unrealized gains or losses included in earnings for assets and liabilities still held at the end of period | (12,426) | 18,993 | ||
Reinsurance Recoverable | Other assets | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning Balance | 11,382 | 11,121 | 12,449 | 15,008 |
Gains or losses (realized/ unrealized), included in earnings | (2,874) | 6,073 | (5,355) | 480 |
Gains or losses (realized/ unrealized), included in other comprehensive income | 0 | 0 | 0 | 0 |
Gains or losses (realized/ unrealized), total | (2,874) | 6,073 | (5,355) | 480 |
Purchases | 750 | 847 | 2,303 | 2,800 |
Sales | 0 | 0 | 0 | 0 |
Settlements | (39) | (239) | (178) | (486) |
Transfers in and/or out of Level 3 (net) | 0 | 0 | 0 | 0 |
Ending Balance | 9,219 | 17,802 | 9,219 | 17,802 |
Change in unrealized gains or losses included in earnings for assets and liabilities still held at the end of period | (2,874) | 6,073 | (5,355) | 480 |
Insurance Contract, Rights and Obligations | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning Balance | 336,840 | 405,705 | 360,198 | 444,010 |
Gains or losses (realized/ unrealized), included in earnings | (10,387) | 28,247 | (12,426) | 18,993 |
Gains or losses (realized/ unrealized), included in other comprehensive income | (94) | 534 | 189 | 422 |
Gains or losses (realized/ unrealized), total | (10,481) | 28,781 | (12,237) | 19,415 |
Purchases | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 |
Settlements | (14,304) | (14,851) | (39,418) | (62,522) |
Transfers in and/or out of Level 3 (net) | 0 | 0 | 0 | 0 |
Ending Balance | 333,017 | 362,073 | 333,017 | 362,073 |
Change in unrealized gains or losses included in earnings for assets and liabilities still held at the end of period | (10,387) | 28,247 | (12,426) | 18,993 |
Insurance Contract, Rights and Obligations | Variable Annuity and Variable Life Insurance Contracts | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning Balance | 336,840 | 405,705 | ||
Gains or losses (realized/ unrealized), included in earnings | (10,387) | 28,247 | ||
Gains or losses (realized/ unrealized), included in other comprehensive income | (94) | 534 | ||
Gains or losses (realized/ unrealized), total | (10,481) | 28,781 | ||
Purchases | 0 | 0 | ||
Sales | 0 | 0 | ||
Settlements | (14,304) | (14,851) | ||
Transfers in and/or out of Level 3 (net) | 0 | 0 | ||
Ending Balance | 333,017 | 362,073 | 333,017 | 362,073 |
Change in unrealized gains or losses included in earnings for assets and liabilities still held at the end of period | (10,387) | 28,247 | ||
Available-for-sale securities | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning Balance | 120,917 | |||
Gains or losses (realized/ unrealized), included in earnings | 2,032 | |||
Gains or losses (realized/ unrealized), included in other comprehensive income | 288 | |||
Gains or losses (realized/ unrealized), total | 2,320 | |||
Purchases | 36,231 | |||
Sales | (22,186) | |||
Settlements | (24,476) | |||
Transfers in and/or out of Level 3 (net) | (20,101) | |||
Ending Balance | 92,705 | 92,705 | ||
Change in unrealized gains or losses included in earnings for assets and liabilities still held at the end of period | 304 | |||
Available-for-sale securities | Corporate debt securities | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning Balance | 3,037 | |||
Gains or losses (realized/ unrealized), included in earnings | 0 | |||
Gains or losses (realized/ unrealized), included in other comprehensive income | 5 | |||
Gains or losses (realized/ unrealized), total | 5 | |||
Purchases | 0 | |||
Sales | 0 | |||
Settlements | (685) | |||
Transfers in and/or out of Level 3 (net) | 0 | |||
Ending Balance | 2,357 | 2,357 | ||
Change in unrealized gains or losses included in earnings for assets and liabilities still held at the end of period | 0 | |||
Available-for-sale securities | CMBS and RMBS in the Americas | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning Balance | 36,010 | |||
Gains or losses (realized/ unrealized), included in earnings | 1,034 | |||
Gains or losses (realized/ unrealized), included in other comprehensive income | 546 | |||
Gains or losses (realized/ unrealized), total | 1,580 | |||
Purchases | 1,304 | |||
Sales | (6,711) | |||
Settlements | (8,777) | |||
Transfers in and/or out of Level 3 (net) | (23,406) | |||
Ending Balance | 0 | 0 | ||
Change in unrealized gains or losses included in earnings for assets and liabilities still held at the end of period | 0 | |||
Available-for-sale securities | Other asset-backed securities and debt securities | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning Balance | 81,870 | |||
Gains or losses (realized/ unrealized), included in earnings | 998 | |||
Gains or losses (realized/ unrealized), included in other comprehensive income | (256) | |||
Gains or losses (realized/ unrealized), total | 742 | |||
Purchases | 34,927 | |||
Sales | (15,475) | |||
Settlements | (15,014) | |||
Transfers in and/or out of Level 3 (net) | 0 | |||
Ending Balance | 87,050 | 87,050 | ||
Change in unrealized gains or losses included in earnings for assets and liabilities still held at the end of period | 304 | |||
Available-for-sale securities | Japanese prefectural and foreign municipal bond securities | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning Balance | 0 | |||
Gains or losses (realized/ unrealized), included in earnings | 0 | |||
Gains or losses (realized/ unrealized), included in other comprehensive income | (7) | |||
Gains or losses (realized/ unrealized), total | (7) | |||
Purchases | 0 | |||
Sales | 0 | |||
Settlements | 0 | |||
Transfers in and/or out of Level 3 (net) | 3,305 | |||
Ending Balance | 3,298 | 3,298 | ||
Change in unrealized gains or losses included in earnings for assets and liabilities still held at the end of period | 0 | |||
Other securities | Equity securities | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning Balance | 37,879 | |||
Gains or losses (realized/ unrealized), included in earnings | 1,957 | |||
Gains or losses (realized/ unrealized), included in other comprehensive income | 523 | |||
Gains or losses (realized/ unrealized), total | 2,480 | |||
Purchases | 34,613 | |||
Sales | (18,352) | |||
Settlements | 0 | |||
Transfers in and/or out of Level 3 (net) | 0 | |||
Ending Balance | 56,620 | 56,620 | ||
Change in unrealized gains or losses included in earnings for assets and liabilities still held at the end of period | 1,685 | |||
Other securities | Investment funds | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning Balance | 37,879 | |||
Gains or losses (realized/ unrealized), included in earnings | 1,957 | |||
Gains or losses (realized/ unrealized), included in other comprehensive income | 523 | |||
Gains or losses (realized/ unrealized), total | 2,480 | |||
Purchases | 34,613 | |||
Sales | (18,352) | |||
Settlements | 0 | |||
Transfers in and/or out of Level 3 (net) | 0 | |||
Ending Balance | 56,620 | 56,620 | ||
Change in unrealized gains or losses included in earnings for assets and liabilities still held at the end of period | 1,685 | |||
Derivative Financial Instruments, Assets and Liabilities | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning Balance | 16,275 | 743 | 5,272 | 2,291 |
Gains or losses (realized/ unrealized), included in earnings | (6,123) | 1,021 | 5,238 | (1,377) |
Gains or losses (realized/ unrealized), included in other comprehensive income | 265 | 0 | (93) | 0 |
Gains or losses (realized/ unrealized), total | (5,858) | 1,021 | 5,145 | (1,377) |
Purchases | 0 | 0 | 0 | 1,673 |
Sales | 0 | 0 | 0 | 0 |
Settlements | 0 | (375) | 0 | (1,198) |
Transfers in and/or out of Level 3 (net) | 0 | 0 | 0 | 0 |
Ending Balance | 10,417 | 1,389 | 10,417 | 1,389 |
Change in unrealized gains or losses included in earnings for assets and liabilities still held at the end of period | (6,123) | 1,021 | 5,238 | (1,377) |
Derivative Financial Instruments, Assets and Liabilities | Options held/written and other | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning Balance | 2,291 | |||
Gains or losses (realized/ unrealized), included in earnings | (1,377) | |||
Gains or losses (realized/ unrealized), included in other comprehensive income | 0 | |||
Gains or losses (realized/ unrealized), total | (1,377) | |||
Purchases | 1,673 | |||
Sales | 0 | |||
Settlements | (1,198) | |||
Transfers in and/or out of Level 3 (net) | 0 | |||
Ending Balance | 1,389 | 1,389 | ||
Change in unrealized gains or losses included in earnings for assets and liabilities still held at the end of period | (1,377) | |||
Available-for-sale Debt Securities | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning Balance | 87,265 | 122,548 | 100,447 | |
Gains or losses (realized/ unrealized), included in earnings | 244 | 882 | 1,339 | |
Gains or losses (realized/ unrealized), included in other comprehensive income | 1,122 | (4,450) | (1,023) | |
Gains or losses (realized/ unrealized), total | 1,366 | (3,568) | 316 | |
Purchases | 17,532 | 3,259 | 33,606 | |
Sales | (3,293) | (6,188) | (3,425) | |
Settlements | (1,904) | (3,245) | (26,987) | |
Transfers in and/or out of Level 3 (net) | 0 | (20,101) | (2,991) | |
Ending Balance | 100,966 | 92,705 | 100,966 | 92,705 |
Change in unrealized gains or losses included in earnings for assets and liabilities still held at the end of period | 141 | 214 | 213 | |
Available-for-sale Debt Securities | Corporate debt securities | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning Balance | 3,638 | 2,547 | 7,158 | |
Gains or losses (realized/ unrealized), included in earnings | 0 | 0 | 0 | |
Gains or losses (realized/ unrealized), included in other comprehensive income | (15) | 5 | (9) | |
Gains or losses (realized/ unrealized), total | (15) | 5 | (9) | |
Purchases | 900 | 0 | 900 | |
Sales | 0 | 0 | 0 | |
Settlements | (307) | (195) | (842) | |
Transfers in and/or out of Level 3 (net) | 0 | 0 | (2,991) | |
Ending Balance | 4,216 | 2,357 | 4,216 | 2,357 |
Change in unrealized gains or losses included in earnings for assets and liabilities still held at the end of period | 0 | 0 | 0 | |
Available-for-sale Debt Securities | CMBS and RMBS in the Americas | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning Balance | 23,996 | |||
Gains or losses (realized/ unrealized), included in earnings | 0 | |||
Gains or losses (realized/ unrealized), included in other comprehensive income | (590) | |||
Gains or losses (realized/ unrealized), total | (590) | |||
Purchases | 0 | |||
Sales | 0 | |||
Settlements | 0 | |||
Transfers in and/or out of Level 3 (net) | (23,406) | |||
Ending Balance | 0 | 0 | ||
Change in unrealized gains or losses included in earnings for assets and liabilities still held at the end of period | 0 | |||
Available-for-sale Debt Securities | Other asset-backed securities and debt securities | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning Balance | 80,819 | 96,005 | 90,401 | |
Gains or losses (realized/ unrealized), included in earnings | 244 | 882 | 1,339 | |
Gains or losses (realized/ unrealized), included in other comprehensive income | 1,094 | (3,858) | (977) | |
Gains or losses (realized/ unrealized), total | 1,338 | (2,976) | 362 | |
Purchases | 16,632 | 3,259 | 32,706 | |
Sales | (3,293) | (6,188) | (3,425) | |
Settlements | (1,597) | (3,050) | (26,145) | |
Transfers in and/or out of Level 3 (net) | 0 | 0 | 0 | |
Ending Balance | 93,899 | 87,050 | 93,899 | 87,050 |
Change in unrealized gains or losses included in earnings for assets and liabilities still held at the end of period | 141 | 214 | 213 | |
Available-for-sale Debt Securities | Japanese prefectural and foreign municipal bond securities | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning Balance | 2,808 | 0 | 2,888 | |
Gains or losses (realized/ unrealized), included in earnings | 0 | 0 | 0 | |
Gains or losses (realized/ unrealized), included in other comprehensive income | 43 | (7) | (37) | |
Gains or losses (realized/ unrealized), total | 43 | (7) | (37) | |
Purchases | 0 | 0 | 0 | |
Sales | 0 | 0 | 0 | |
Settlements | 0 | 0 | 0 | |
Transfers in and/or out of Level 3 (net) | 0 | 3,305 | 0 | |
Ending Balance | 2,851 | 3,298 | 2,851 | ¥ 3,298 |
Change in unrealized gains or losses included in earnings for assets and liabilities still held at the end of period | ¥ 0 | ¥ 0 | ¥ 0 |
Fair Value Measurements - Addit
Fair Value Measurements - Additional Information (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | |
Fair Value Asset And Liabilities Measured On Recurring Basis [Line Items] | ||||
Transferred from level 2 to level 3 | ¥ 0 | |||
Transferred from level 3 to level 2 | ¥ 0 | |||
Japanese prefectural and foreign municipal bond securities | ||||
Fair Value Asset And Liabilities Measured On Recurring Basis [Line Items] | ||||
Transferred from level 2 to level 3 | ¥ 3,305 | |||
Japanese prefectural and foreign municipal bond securities | Available-for-sale securities | ||||
Fair Value Asset And Liabilities Measured On Recurring Basis [Line Items] | ||||
Transferred from level 2 to level 3 | ¥ 3,305 | |||
Corporate debt securities | ||||
Fair Value Asset And Liabilities Measured On Recurring Basis [Line Items] | ||||
Transferred from level 3 to level 2 | ¥ 2,991 | |||
CMBS and RMBS in the Americas | ||||
Fair Value Asset And Liabilities Measured On Recurring Basis [Line Items] | ||||
Transferred from level 3 to level 2 | ¥ 23,406 | |||
CMBS and RMBS in the Americas | Available-for-sale securities | ||||
Fair Value Asset And Liabilities Measured On Recurring Basis [Line Items] | ||||
Transferred from level 3 to level 2 | ¥ 23,406 |
Fair Value Measurements (Reco_3
Fair Value Measurements (Recorded Amounts of Major Assets Measured at Fair Value on Nonrecurring Basis) (Detail) - JPY (¥) ¥ in Millions | Dec. 31, 2019 | Mar. 31, 2019 |
Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on a nonrecurring basis | ¥ 186,811 | ¥ 179,361 |
Fair Value, Measurements, Nonrecurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on a nonrecurring basis | 10,517 | 26,267 |
Fair Value, Measurements, Nonrecurring | Loans Held-for-Sale | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on a nonrecurring basis | 3,839 | |
Fair Value, Measurements, Nonrecurring | Real Estate Collateral Dependent Loans | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on a nonrecurring basis | 4,494 | 6,630 |
Fair Value, Measurements, Nonrecurring | Investment in Operating Leases and Properties under Facility Operations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on a nonrecurring basis | 4,462 | 12,901 |
Fair Value, Measurements, Nonrecurring | Certain Investment in Affiliates | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on a nonrecurring basis | 1,561 | 2,897 |
Fair Value, Measurements, Nonrecurring | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on a nonrecurring basis | 0 | 0 |
Fair Value, Measurements, Nonrecurring | Level 1 | Loans Held-for-Sale | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on a nonrecurring basis | 0 | |
Fair Value, Measurements, Nonrecurring | Level 1 | Real Estate Collateral Dependent Loans | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on a nonrecurring basis | 0 | 0 |
Fair Value, Measurements, Nonrecurring | Level 1 | Investment in Operating Leases and Properties under Facility Operations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on a nonrecurring basis | 0 | 0 |
Fair Value, Measurements, Nonrecurring | Level 1 | Certain Investment in Affiliates | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on a nonrecurring basis | 0 | 0 |
Fair Value, Measurements, Nonrecurring | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on a nonrecurring basis | 712 | 3,839 |
Fair Value, Measurements, Nonrecurring | Level 2 | Loans Held-for-Sale | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on a nonrecurring basis | 3,839 | |
Fair Value, Measurements, Nonrecurring | Level 2 | Real Estate Collateral Dependent Loans | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on a nonrecurring basis | 0 | 0 |
Fair Value, Measurements, Nonrecurring | Level 2 | Investment in Operating Leases and Properties under Facility Operations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on a nonrecurring basis | 712 | 0 |
Fair Value, Measurements, Nonrecurring | Level 2 | Certain Investment in Affiliates | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on a nonrecurring basis | 0 | 0 |
Fair Value, Measurements, Nonrecurring | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on a nonrecurring basis | 9,805 | 22,428 |
Fair Value, Measurements, Nonrecurring | Level 3 | Loans Held-for-Sale | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on a nonrecurring basis | 0 | |
Fair Value, Measurements, Nonrecurring | Level 3 | Real Estate Collateral Dependent Loans | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on a nonrecurring basis | 4,494 | 6,630 |
Fair Value, Measurements, Nonrecurring | Level 3 | Investment in Operating Leases and Properties under Facility Operations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on a nonrecurring basis | 3,750 | 12,901 |
Fair Value, Measurements, Nonrecurring | Level 3 | Certain Investment in Affiliates | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value on a nonrecurring basis | ¥ 1,561 | ¥ 2,897 |
Fair Value Measurements (Inform
Fair Value Measurements (Information about Valuation Techniques and Significant Unobservable Inputs Used in Valuation of Level Three Assets and Liabilities Measured at Fair Value on Recurring Basis) (Detail) ¥ in Millions | Dec. 31, 2019JPY (¥) | Mar. 31, 2019JPY (¥) | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Available-for-sale debt securities | ¥ 1,576,349 | ¥ 1,264,244 | |||
Equity securities | [1] | 537,004 | 549,047 | ||
Derivative assets | 15,169 | 13,998 | |||
Other assets | 9,219 | 12,449 | |||
Policy Liabilities and Policy Account Balances | 333,017 | 360,198 | |||
Options held/written and other | 50,674 | 24,461 | |||
Level 3 | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Available-for-sale debt securities | 100,966 | 100,447 | |||
Equity securities | 66,182 | [2] | 61,193 | [3] | |
Derivative assets | [4] | 0 | 0 | ||
Other assets | 12,449 | ||||
Total | 186,811 | 179,361 | |||
Total financial liabilities | 333,044 | 360,198 | |||
Options held/written and other | [4] | 0 | 0 | ||
Level 3 | Corporate debt securities | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Available-for-sale debt securities | 2,162 | ||||
Level 3 | Corporate debt securities | Appraisals | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Available-for-sale debt securities | 4,996 | ||||
Level 3 | Corporate debt securities | Discount rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Available-for-sale debt securities | 2,216 | ||||
Level 3 | Corporate debt securities | Discount rate | Appraisals | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Available-for-sale debt securities | 2,000 | ||||
Level 3 | Other asset-backed securities and debt securities | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Available-for-sale debt securities | 23,651 | ||||
Level 3 | Other asset-backed securities and debt securities | Appraisals | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Available-for-sale debt securities | 66,750 | ||||
Level 3 | Other asset-backed securities and debt securities | Discount rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Available-for-sale debt securities | ¥ 19,168 | ||||
Level 3 | Other asset-backed securities and debt securities | Measurement Input, Default Rate [Member] | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Available-for-sale debt securities | 1.9 | ||||
Level 3 | Other asset-backed securities and debt securities | Measurement Input, Default Rate [Member] | Appraisals | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Available-for-sale debt securities | ¥ 74,731 | ||||
Level 3 | Investment funds | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Equity securities | 32,702 | ||||
Level 3 | Investment funds | Appraisals | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Equity securities | 22,479 | ||||
Level 3 | Investment funds | Fair Value Inputs Level 3 Internal Cash Flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Equity securities | 6,012 | ||||
Level 3 | Investment funds | Discount rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Equity securities | 49,972 | ||||
Level 3 | Investment funds | Discount rate | Appraisals | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Equity securities | 10,858 | ||||
Level 3 | Investment funds | Discount rate | Fair Value Inputs Level 3 Internal Cash Flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Equity securities | 5,352 | ||||
Level 3 | Options held | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative assets | 5,005 | ||||
Level 3 | Options held | Appraisals | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative assets | 53 | 267 | |||
Options held/written and other | 27 | ||||
Level 3 | Options held | Discount rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative assets | 10,391 | ||||
Level 3 | Reinsurance Recoverable | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Other assets | 12,449 | ||||
Level 3 | Reinsurance Recoverable | Discount rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Other assets | 9,219 | ||||
Level 3 | Variable Annuity and Variable Life Insurance Contracts | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Policy Liabilities and Policy Account Balances | 360,198 | ||||
Level 3 | Variable Annuity and Variable Life Insurance Contracts | Discount rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Policy Liabilities and Policy Account Balances | 333,017 | ||||
Level 3 | Japanese prefectural and foreign municipal bond securities | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Available-for-sale debt securities | ¥ 2,888 | ||||
Level 3 | Japanese prefectural and foreign municipal bond securities | Discount rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Available-for-sale debt securities | ¥ 2,851 | ||||
Significant unobservable inputs, Available-for-sale debt securities | 8.5 | 8.5 | |||
Minimum | Corporate debt securities | Discount rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Available-for-sale debt securities | 0.2 | ||||
Minimum | Investment funds | Discount rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs. Equity securities | 3.8 | ||||
Minimum | Options held | Discount rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Derivative assets | 12 | ||||
Minimum | Reinsurance Recoverable | Discount rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Other assets | 0.1 | ||||
Minimum | Reinsurance Recoverable | Mortality Rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Other assets | 0 | ||||
Minimum | Reinsurance Recoverable | Lapse Rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Other assets | 1.5 | ||||
Minimum | Reinsurance Recoverable | Annuitization Rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Other assets | 0 | ||||
Minimum | Variable Annuity and Variable Life Insurance Contracts | Discount rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Policy liabilities and Policy Account Balances | 0.1 | ||||
Minimum | Variable Annuity and Variable Life Insurance Contracts | Lapse Rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Policy liabilities and Policy Account Balances | 1.5 | ||||
Minimum | Variable Annuity and Variable Life Insurance Contracts | Annuitization Rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Policy liabilities and Policy Account Balances | 0 | ||||
Minimum | Level 3 | Corporate debt securities | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Available-for-sale debt securities | 0.1 | ||||
Minimum | Level 3 | Other asset-backed securities and debt securities | Discount rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Available-for-sale debt securities | 1 | 0.2 | |||
Minimum | Level 3 | Other asset-backed securities and debt securities | Measurement Input, Default Rate [Member] | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Available-for-sale debt securities | 0.6 | ||||
Minimum | Level 3 | Investment funds | Discount rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs. Equity securities | 3.8 | ||||
Minimum | Level 3 | Investment funds | Discount rate | Fair Value Inputs Level 3 Internal Cash Flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs. Equity securities | 0 | 0 | |||
Minimum | Level 3 | Options held | Discount rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Derivative assets | 0 | ||||
Minimum | Level 3 | Reinsurance Recoverable | Discount rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Other assets | 0.1 | ||||
Minimum | Level 3 | Reinsurance Recoverable | Mortality Rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Other assets | 0 | ||||
Minimum | Level 3 | Reinsurance Recoverable | Lapse Rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Other assets | 1.5 | ||||
Minimum | Level 3 | Reinsurance Recoverable | Annuitization Rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Other assets | 0 | ||||
Minimum | Level 3 | Variable Annuity and Variable Life Insurance Contracts | Discount rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Policy liabilities and Policy Account Balances | 0.1 | ||||
Minimum | Level 3 | Variable Annuity and Variable Life Insurance Contracts | Mortality Rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Policy liabilities and Policy Account Balances | 0 | 0 | |||
Minimum | Level 3 | Variable Annuity and Variable Life Insurance Contracts | Lapse Rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Policy liabilities and Policy Account Balances | 1.5 | ||||
Minimum | Level 3 | Variable Annuity and Variable Life Insurance Contracts | Annuitization Rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Policy liabilities and Policy Account Balances | 0 | ||||
Maximum | Corporate debt securities | Discount rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Available-for-sale debt securities | 2.5 | ||||
Maximum | Investment funds | Discount rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs. Equity securities | 19.1 | ||||
Maximum | Investment funds | Discount rate | Fair Value Inputs Level 3 Internal Cash Flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs. Equity securities | 65 | ||||
Maximum | Options held | Discount rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Derivative assets | 33 | ||||
Maximum | Reinsurance Recoverable | Discount rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Other assets | 0.5 | ||||
Maximum | Reinsurance Recoverable | Mortality Rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Other assets | 100 | ||||
Maximum | Reinsurance Recoverable | Lapse Rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Other assets | 14 | ||||
Maximum | Reinsurance Recoverable | Annuitization Rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Other assets | 100 | ||||
Maximum | Variable Annuity and Variable Life Insurance Contracts | Discount rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Policy liabilities and Policy Account Balances | 0.5 | ||||
Maximum | Variable Annuity and Variable Life Insurance Contracts | Lapse Rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Policy liabilities and Policy Account Balances | 30 | ||||
Maximum | Variable Annuity and Variable Life Insurance Contracts | Annuitization Rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Policy liabilities and Policy Account Balances | 100 | ||||
Maximum | Level 3 | Corporate debt securities | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Available-for-sale debt securities | 1.3 | ||||
Maximum | Level 3 | Other asset-backed securities and debt securities | Discount rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Available-for-sale debt securities | 51.2 | 51.2 | |||
Maximum | Level 3 | Other asset-backed securities and debt securities | Measurement Input, Default Rate [Member] | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Available-for-sale debt securities | 1.6 | ||||
Maximum | Level 3 | Investment funds | Discount rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs. Equity securities | 17 | ||||
Maximum | Level 3 | Investment funds | Discount rate | Fair Value Inputs Level 3 Internal Cash Flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs. Equity securities | 65 | ||||
Maximum | Level 3 | Options held | Discount rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Derivative assets | 15 | ||||
Maximum | Level 3 | Reinsurance Recoverable | Discount rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Other assets | 0.4 | ||||
Maximum | Level 3 | Reinsurance Recoverable | Mortality Rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Other assets | 100 | ||||
Maximum | Level 3 | Reinsurance Recoverable | Lapse Rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Other assets | 24 | ||||
Maximum | Level 3 | Reinsurance Recoverable | Annuitization Rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Other assets | 100 | ||||
Maximum | Level 3 | Variable Annuity and Variable Life Insurance Contracts | Discount rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Policy liabilities and Policy Account Balances | 0.4 | ||||
Maximum | Level 3 | Variable Annuity and Variable Life Insurance Contracts | Mortality Rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Policy liabilities and Policy Account Balances | 100 | 100 | |||
Maximum | Level 3 | Variable Annuity and Variable Life Insurance Contracts | Lapse Rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Policy liabilities and Policy Account Balances | 54 | ||||
Maximum | Level 3 | Variable Annuity and Variable Life Insurance Contracts | Annuitization Rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Policy liabilities and Policy Account Balances | 100 | ||||
Weighted Average | Corporate debt securities | Discount rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Available-for-sale debt securities | 0.8 | ||||
Weighted Average | Investment funds | Discount rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs. Equity securities | 16.8 | ||||
Weighted Average | Investment funds | Discount rate | Fair Value Inputs Level 3 Internal Cash Flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs. Equity securities | 2.3 | ||||
Weighted Average | Reinsurance Recoverable | Discount rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Other assets | 0.1 | ||||
Weighted Average | Reinsurance Recoverable | Mortality Rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Other assets | 1.4 | ||||
Weighted Average | Reinsurance Recoverable | Lapse Rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Other assets | 7.2 | ||||
Weighted Average | Reinsurance Recoverable | Annuitization Rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Other assets | 100 | ||||
Weighted Average | Variable Annuity and Variable Life Insurance Contracts | Discount rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Policy liabilities and Policy Account Balances | 0.1 | ||||
Weighted Average | Variable Annuity and Variable Life Insurance Contracts | Lapse Rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Policy liabilities and Policy Account Balances | 7.2 | ||||
Weighted Average | Variable Annuity and Variable Life Insurance Contracts | Annuitization Rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Policy liabilities and Policy Account Balances | 80.2 | ||||
Weighted Average | Level 3 | Corporate debt securities | Discount rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Available-for-sale debt securities | 0.8 | ||||
Weighted Average | Level 3 | Other asset-backed securities and debt securities | Discount rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Available-for-sale debt securities | 11.3 | 8.3 | |||
Weighted Average | Level 3 | Other asset-backed securities and debt securities | Measurement Input, Default Rate [Member] | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Available-for-sale debt securities | 1.9 | 0.8 | |||
Weighted Average | Level 3 | Investment funds | Discount rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs. Equity securities | 14.1 | ||||
Weighted Average | Level 3 | Investment funds | Discount rate | Fair Value Inputs Level 3 Internal Cash Flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs. Equity securities | 11.3 | ||||
Weighted Average | Level 3 | Options held | Discount rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Derivative assets | 14 | 8.6 | |||
Weighted Average | Level 3 | Reinsurance Recoverable | Discount rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Other assets | 0.1 | ||||
Weighted Average | Level 3 | Reinsurance Recoverable | Mortality Rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Other assets | 1.3 | ||||
Weighted Average | Level 3 | Reinsurance Recoverable | Lapse Rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Other assets | 16.2 | ||||
Weighted Average | Level 3 | Reinsurance Recoverable | Annuitization Rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Other assets | 99.9 | ||||
Weighted Average | Level 3 | Variable Annuity and Variable Life Insurance Contracts | Discount rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Policy liabilities and Policy Account Balances | 0.1 | ||||
Weighted Average | Level 3 | Variable Annuity and Variable Life Insurance Contracts | Mortality Rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Policy liabilities and Policy Account Balances | 1.3 | 1.3 | |||
Weighted Average | Level 3 | Variable Annuity and Variable Life Insurance Contracts | Lapse Rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Policy liabilities and Policy Account Balances | 16 | ||||
Weighted Average | Level 3 | Variable Annuity and Variable Life Insurance Contracts | Annuitization Rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Policy liabilities and Policy Account Balances | 80.3 | ||||
Weighted Average | Level 3 | Japanese prefectural and foreign municipal bond securities | Discount rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Available-for-sale debt securities | 8.5 | 8.5 | |||
[1] | The amount of assets under management of variable annuity and variable life insurance contracts included in equity securities were ¥324,220 million and ¥0 million as of March 31, 2019 and December 31, 2019, respectively. The amount of investment funds that are accounted for under the equity method included in equity securities were ¥75,923 million and ¥0 million as of March 31, 2019 and December 31, 2019, respectively. The amount of investment funds elected for the fair value option included in equity securities were ¥5,811 million and ¥0 million as of March 31, 2019 and December 31, 2019, respectively. | ||||
[2] | The amount of ¥11,878 million of investment funds measured at net asset value per share is not included. | ||||
[3] | The amount of ¥12,100 million of investment funds measured at net asset value per share is not included. | ||||
[4] | It represents the amount after offset under counterparty netting of derivative assets and liabilities. For the information of input level before netting, see Note 3 “Fair Value Measurements.” |
Fair Value Measurements (Info_2
Fair Value Measurements (Information about Valuation Techniques and Significant Unobservable Inputs Used in Valuation of Level Three Assets Measured at Fair Value on Nonrecurring Basis) (Detail) - JPY (¥) | 9 Months Ended | 12 Months Ended |
Dec. 31, 2019 | Mar. 31, 2019 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | ¥ 9,805,000,000 | ¥ 22,428,000,000 |
Real Estate Collateral Dependent Loans | Direct Capitalization Valuation Technique | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | ¥ 4,494,000,000 | ¥ 6,630 |
Valuation Technique(s) | Direct capitalization | Direct capitalization |
Significant Unobservable Inputs | Capitalization rate | Capitalization rate |
Real Estate Collateral Dependent Loans | Appraisals | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Valuation Technique(s) | Appraisals | Appraisals |
Real Estate Collateral Dependent Loans | Minimum | Direct Capitalization Valuation Technique | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range Discount Rate | 5.60% | 5.80% |
Real Estate Collateral Dependent Loans | Maximum | Direct Capitalization Valuation Technique | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range Discount Rate | 6.60% | 8.20% |
Real Estate Collateral Dependent Loans | Weighted Average | Direct Capitalization Valuation Technique | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range Discount Rate | 6.30% | |
Investment in operating leases and property under facility operations | Discounted Cash Flows Valuation Technique | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | ¥ 2,345,000,000 | |
Valuation Technique(s) | Discounted cash flows | |
Significant Unobservable Inputs | Discount rate | |
Range Discount Rate | 7.30% | |
Investment in operating leases and property under facility operations | Appraisals | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | ¥ 3,750,000,000 | ¥ 10,556,000,000 |
Valuation Technique(s) | Appraisals | Appraisals |
Investment in operating leases and property under facility operations | Weighted Average | Discounted Cash Flows Valuation Technique | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range Discount Rate | 7.30% | |
Investment in operating leases and property under facility operations | Weighted Average | Appraisals | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range Discount Rate | 6.10% | |
Certain Investment in Affiliates | Discounted Cash Flows Valuation Technique | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Valuation Technique(s) | Discounted cash flows | |
Significant Unobservable Inputs | Discount rate | |
Range Discount Rate | 14.00% | |
Certain Investment in Affiliates | Appraisals | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | ¥ 1,561,000,000 | ¥ 2,563,000,000 |
Valuation Technique(s) | Appraisals | Appraisals |
Certain Investment in Affiliates | Business enterprise value multiples | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value | ¥ 334,000,000 | |
Valuation Technique(s) | Business enterprise value multiples | |
Certain Investment in Affiliates | Weighted Average | Discounted Cash Flows Valuation Technique | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range Discount Rate | 14.00% |
Acquisitions and Divestitures -
Acquisitions and Divestitures - Additional Information (Detail) - JPY (¥) | 3 Months Ended | 9 Months Ended | ||||
Dec. 31, 2019 | Jun. 30, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2019 | |
Business Acquisition [Line Items] | ||||||
Acquisitions consideration, cost of acquired entity paid in cash | ¥ 0 | ¥ 0 | ||||
Bargain Purchase Gain | ¥ 1,022,000,000 | 1,022,000,000 | 0 | |||
Gains on Sales of Subsidiaries and Affiliates and Liquidation Losses, net | ¥ 25,200,000,000 | ¥ 1,438,000,000 | 58,488,000,000 | 20,470,000,000 | ||
Property under Facility Operations | 524,692,000,000 | 524,692,000,000 | ¥ 441,632,000,000 | |||
Other Liabilities | 909,212,000,000 | 909,212,000,000 | ¥ 617,746,000,000 | |||
Divestiture | ||||||
Business Acquisition [Line Items] | ||||||
Gains on Sales of Subsidiaries and Affiliates and Liquidation Losses, net | 25,200,000,000 | 1,438,000,000 | 58,488,000,000 | 20,470,000,000 | ||
Divestiture | Overseas Business Segment | ||||||
Business Acquisition [Line Items] | ||||||
Gains on Sales of Subsidiaries and Affiliates and Liquidation Losses, net | 8,954,000,000 | 218,000,000 | 24,202,000,000 | 18,688,000,000 | ||
Divestiture | Investment and Operation Segment | ||||||
Business Acquisition [Line Items] | ||||||
Gains on Sales of Subsidiaries and Affiliates and Liquidation Losses, net | 16,072,000,000 | 18,007,000,000 | 556,000,000 | |||
Divestiture | Real Estate Segment | ||||||
Business Acquisition [Line Items] | ||||||
Gains on Sales of Subsidiaries and Affiliates and Liquidation Losses, net | 16,216,000,000 | |||||
Property under Facility Operations | 42,595,000,000 | 42,595,000,000 | ||||
Other Liabilities | ¥ 23,078,000,000 | ¥ 23,078,000,000 | ||||
Divestiture | Maintenance Leasing Segment | ||||||
Business Acquisition [Line Items] | ||||||
Gains on Sales of Subsidiaries and Affiliates and Liquidation Losses, net | ¥ 1,220,000,000 | ¥ 1,220,000,000 |
Revenues from Contracts with _3
Revenues from Contracts with Customers - Summary of Revenues from Contracts with Customers, and Other Sources of Revenue (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | |
Revenue From Contract With Customers [Line Items] | ||||
Revenues from contracts with customers | ¥ 289,145 | ¥ 325,457 | ¥ 866,201 | ¥ 1,052,813 |
Other revenues | 282,556 | 208,684 | 818,178 | 743,342 |
Total revenues | ¥ 571,701 | ¥ 534,141 | ¥ 1,684,379 | ¥ 1,796,155 |
Revenues from Contracts with _4
Revenues from Contracts with Customers - Balances from Contracts with Customers in Fee Business (Detail) - JPY (¥) ¥ in Millions | Dec. 31, 2019 | Mar. 31, 2019 |
Contract with Customer, Asset and Liability [Abstract] | ||
Trade Notes, Accounts and Other Receivable | ¥ 166,573 | ¥ 161,884 |
Contract assets (Included in Other Assets) | 6,573 | 2,277 |
Contract liabilities (Included in Other Liabilities) | ¥ 31,228 | ¥ 45,371 |
Revenues from Contracts with _5
Revenues from Contracts with Customers - Additional Information (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | |
Revenue From Contract With Customers [Line Items] | ||||
Contract liabilities decrease due to deconsolidation of contract liabilities | ¥ 14,342 | |||
Revenue included in contract liabilities | ¥ 5,262 | ¥ 5,328 | 28,209 | ¥ 34,564 |
Revenue remaining performance obligation | ¥ 142,028 | ¥ 142,028 | ||
Automobile Services [Member] | ||||
Revenue From Contract With Customers [Line Items] | ||||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period | 10 years | 10 years | ||
Maximum | ||||
Revenue From Contract With Customers [Line Items] | ||||
Revenue remaining performance obligation expected timing of satisfaction, period | Remaining term for the obligations ranges up to 15 years |
Leases - Lessor_ Lease Income (
Leases - Lessor: Lease Income (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended |
Dec. 31, 2019 | Dec. 31, 2019 | |
Lease income—net investment in leases | ||
Interest Income | ¥ 14,020 | ¥ 41,028 |
Other | 511 | 1,601 |
Lease Income--Operating Leases | 100,743 | 303,148 |
Total lease income | ¥ 115,274 | ¥ 345,777 |
Leases - Additional Information
Leases - Additional Information (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | |
Schedule of Operating Leases [Line Items] | |||
Gains on sales of operating lease assets | ¥ 37,278 | ¥ 50,445 | |
Operating lease contracts, non- cancelable lease terms | 30 years | ||
Operating Lease Assets Other than Real Estate | |||
Schedule of Operating Leases [Line Items] | |||
Gains on sales of operating lease assets | ¥ 6,047 | ¥ 14,234 | |
Real Estate Asset | |||
Schedule of Operating Leases [Line Items] | |||
Gains on sales of operating lease assets | ¥ 4,636 | ¥ 23,044 |
Leases - Lessor_ Net Investment
Leases - Lessor: Net Investment in Leases (Detail) - JPY (¥) ¥ in Millions | Dec. 31, 2019 | Mar. 31, 2019 |
Schedule Of Net Investment In Direct Financing And Sales Type Lease [Abstract] | ||
Lease receivables | ¥ 1,108,611 | |
Unguaranteed residual value | 29,325 | |
Initial direct costs | 4,403 | |
Total | ¥ 1,142,339 | ¥ 0 |
Leases - Lessor_ Investment in
Leases - Lessor: Investment in Operating Leases (Detail) - JPY (¥) ¥ in Millions | Dec. 31, 2019 | Mar. 31, 2019 |
Property Subject to or Available for Operating Lease [Line Items] | ||
Right-of-use-asset (operating leases) | ¥ 274,486 | |
Investment in Operating Leases | 1,505,253 | ¥ 1,335,959 |
Investment in Operating Leases | ||
Property Subject to or Available for Operating Lease [Line Items] | ||
Property Subject to or Available for Operating Lease, Gross | 2,002,151 | |
Accumulated depreciation | (659,318) | |
Net | 1,342,833 | |
Right-of-use-asset (operating leases) | 128,951 | |
Accrued rental receivables | 33,469 | |
Investment in Operating Leases | 1,505,253 | |
Transportation equipment | Investment in Operating Leases | ||
Property Subject to or Available for Operating Lease [Line Items] | ||
Property Subject to or Available for Operating Lease, Gross | 1,386,422 | |
Measuring and information-related equipment | Investment in Operating Leases | ||
Property Subject to or Available for Operating Lease [Line Items] | ||
Property Subject to or Available for Operating Lease, Gross | 278,294 | |
Real Estate Asset | Investment in Operating Leases | ||
Property Subject to or Available for Operating Lease [Line Items] | ||
Property Subject to or Available for Operating Lease, Gross | 305,842 | |
Other | Investment in Operating Leases | ||
Property Subject to or Available for Operating Lease [Line Items] | ||
Property Subject to or Available for Operating Lease, Gross | ¥ 31,593 |
Leases - Lessor_ Depreciation a
Leases - Lessor: Depreciation and Various Expenses Included in Costs of Operating Leases (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | |
Leases [Abstract] | ||||
Depreciation expenses | ¥ 52,714 | ¥ 155,668 | ||
Various expenses | 13,674 | 41,641 | ||
Costs of operating leases | ¥ 66,388 | ¥ 64,127 | ¥ 197,309 | ¥ 191,493 |
Leases - Lessor_ Amounts of Rem
Leases - Lessor: Amounts of Remaining Lease Receivables of Net Investment in Leases and Opearting Lease Contracts Due in Each of Next Five Years and Thereafter (Detail) ¥ in Millions | Dec. 31, 2019JPY (¥) |
Operating leases | |
2020 | ¥ 289,678 |
2021 | 200,061 |
2022 | 138,467 |
2023 | 91,911 |
2024 | 55,608 |
Thereafter | 149,596 |
Total lease payments | 925,321 |
Net investment in leases | |
2020 | 455,576 |
2021 | 307,960 |
2022 | 205,011 |
2023 | 121,870 |
2024 | 68,358 |
Thereafter | 86,125 |
Total lease payments | 1,244,900 |
Less imputed interest | (136,289) |
Total lease receivables | ¥ 1,108,611 |
Leases - Lessee_ Component of L
Leases - Lessee: Component of Lease Expense (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended |
Dec. 31, 2019 | Dec. 31, 2019 | |
Finance Leases Cost [Abstract] | ||
Depreciation expenses of right-of-use assets | ¥ 212 | ¥ 667 |
Interest expenses of lease liabilities | 36 | 267 |
Finance lease cost total | 248 | 934 |
Operating Lease, Cost | 10,473 | 31,791 |
Short-term Lease, Cost | 717 | 2,019 |
Variable Lease, Cost | 375 | 920 |
Sublease Income | (708) | (2,828) |
Total | ¥ 11,105 | ¥ 32,836 |
Leases - Lessee_ Supplemental C
Leases - Lessee: Supplemental Cash Flow Information (Detail) ¥ in Millions | 9 Months Ended |
Dec. 31, 2019JPY (¥) | |
Schedule Of Cash Flow Information Related To Lease Abstract [Abstract] | |
Operating Leases, Cash flows from operating activities | ¥ 33,685 |
Operating Leases, Cash flows from financing activities | 0 |
Operating Leases, Right-of-use assets obtained in exchange for lease liabilities | 29,800 |
Finance Leases, Cash flows from operating activities | 267 |
Finance Leases, Cash flows from financing activities | 409 |
Finance Leases, Right-of-use assets obtained in exchange for lease liabilities: | ¥ 531 |
Leases - Lessee_ Supplemental B
Leases - Lessee: Supplemental Balance Sheet Information (Detail) ¥ in Millions | Dec. 31, 2019JPY (¥) |
Operating And Finance Lease Supplemental Balance Sheet Information Line Items [Line Items] | |
Right-of-use asset (operating leases) | ¥ 274,486 |
Operating lease, Total lease liabilities | 271,093 |
Operating lease, Other Liabilities | ¥ 271,093 |
Operating lease, Weighted average remaining lease term | 14 years |
Operating lease, Weighted average discount rate | 1.15% |
Right-of-use asset (finance leases) | ¥ 2,308 |
Finance leases, Total lease liabilities | 2,914 |
Finance leases, Other Liability | ¥ 2,914 |
Finance leases, Weighted average remaining lease term | 9 years |
Finance leases, Weighted average discount rate | 3.02% |
Investment in Operating Leases | |
Operating And Finance Lease Supplemental Balance Sheet Information Line Items [Line Items] | |
Right-of-use asset (operating leases) | ¥ 128,951 |
Right-of-use asset (finance leases) | 0 |
Property under Facility Operations | |
Operating And Finance Lease Supplemental Balance Sheet Information Line Items [Line Items] | |
Right-of-use asset (operating leases) | 69,719 |
Right-of-use asset (finance leases) | 2,299 |
Office Facilities | |
Operating And Finance Lease Supplemental Balance Sheet Information Line Items [Line Items] | |
Right-of-use asset (operating leases) | 75,816 |
Right-of-use asset (finance leases) | ¥ 9 |
Leases - Lessee_ Amounts of Lea
Leases - Lessee: Amounts of Lease Liabilities Due in Each of Next Five Years and Thereafter (Detail) ¥ in Millions | Dec. 31, 2019JPY (¥) |
Operating And Finance Lease Payments Due Abstract [Abstract] | |
Finance leases, 2020 | ¥ 487 |
Finance leases, 2021 | 484 |
Finance leases, 2022 | 482 |
Finance leases, 2023 | 477 |
Finance leases, 2024 | 473 |
Thereafter | 963 |
Total lease payments | 3,366 |
Less imputed interest | (452) |
Total Lease Liability | 2,914 |
Operating leases, 2020 | 45,643 |
Operating leases, 2021 | 32,221 |
Operating leases, 2022 | 28,155 |
Operating leases, 2023 | 25,500 |
Operating leases, 2024 | 21,481 |
Thereafter | 138,354 |
Total lease payments | 291,354 |
Less imputed interest | (20,261) |
Total lease liabilities | ¥ 271,093 |
Credit Quality of Financing R_3
Credit Quality of Financing Receivables and the Allowance for Credit Losses (Information about Allowance for Credit Losses) (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | ||||||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2019 | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||||
Beginning balance | ¥ 55,173 | ¥ 55,840 | ¥ 58,011 | ¥ 54,672 | ||||||
Provision (Reversal) | 5,151 | 5,865 | 15,724 | 14,075 | ||||||
Charge-offs | (4,133) | (4,208) | (16,814) | (12,588) | ||||||
Recoveries | 232 | 253 | 632 | 904 | ||||||
Other | 499 | [1] | (407) | [1] | (631) | [2] | 280 | [1] | ||
Ending balance | 56,922 | 57,343 | 56,922 | 57,343 | ||||||
Allowance for credit losses, Individually Evaluated for Impairment | 11,254 | 12,787 | 11,254 | 12,787 | ¥ 13,731 | |||||
Allowance for credit losses, Not Individually Evaluated for Impairment | 45,668 | 44,556 | 45,668 | 44,556 | 44,280 | |||||
Financing receivables, Ending balance | 4,677,635 | 4,294,287 | 4,677,635 | 4,294,287 | 4,378,991 | |||||
Financing receivables, Individually evaluated for impairment | 69,780 | 54,416 | 69,780 | 54,416 | 58,827 | |||||
Financing receivables, Not individually evaluated for impairment | 4,607,855 | 4,239,871 | 4,607,855 | 4,239,871 | 4,320,164 | |||||
Consumer borrowers | ||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||||
Beginning balance | 21,789 | 22,060 | 21,195 | 21,196 | ||||||
Provision (Reversal) | 2,956 | 3,390 | 9,931 | 9,129 | ||||||
Charge-offs | (2,740) | (2,727) | (9,360) | (7,867) | ||||||
Recoveries | 146 | 178 | 419 | 465 | ||||||
Other | 8 | [1] | 6 | [1] | (26) | [2] | (16) | [1] | ||
Ending balance | 22,159 | 22,907 | 22,159 | 22,907 | ||||||
Allowance for credit losses, Individually Evaluated for Impairment | 3,528 | 3,349 | 3,528 | 3,349 | 3,372 | |||||
Allowance for credit losses, Not Individually Evaluated for Impairment | 18,631 | 19,558 | 18,631 | 19,558 | 17,823 | |||||
Financing receivables, Ending balance | 2,126,058 | 1,856,623 | 2,126,058 | 1,856,623 | 1,906,022 | |||||
Financing receivables, Individually evaluated for impairment | 26,147 | 22,793 | 26,147 | 22,793 | 23,163 | |||||
Financing receivables, Not individually evaluated for impairment | 2,099,911 | 1,833,830 | 2,099,911 | 1,833,830 | 1,882,859 | |||||
Corporate borrowers | ||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||||
Allowance for credit losses, Individually Evaluated for Impairment | 6,238 | 6,238 | 8,442 | |||||||
Financing receivables, Ending balance | 1,394,432 | 1,394,432 | 1,300,921 | |||||||
Financing receivables, Individually evaluated for impairment | 40,635 | 40,635 | 31,900 | |||||||
Purchased loans | ||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||||
Beginning balance | [3] | 2,760 | 3,905 | 3,186 | 4,292 | |||||
Provision (Reversal) | [3] | (55) | (55) | (133) | (241) | |||||
Charge-offs | [3] | (107) | (54) | (470) | (358) | |||||
Recoveries | [3] | 28 | 6 | 48 | 102 | |||||
Other | [3] | 16 | [1] | (5) | [1] | 11 | [2] | 2 | [1] | |
Ending balance | [3] | 2,642 | [2] | 3,797 | 2,642 | [2] | 3,797 | |||
Allowance for credit losses, Individually Evaluated for Impairment | [3] | 1,488 | 2,406 | 1,488 | 2,406 | 1,917 | ||||
Allowance for credit losses, Not Individually Evaluated for Impairment | [3] | 1,154 | 1,391 | 1,154 | 1,391 | 1,269 | ||||
Financing receivables, Ending balance | [3] | 14,806 | 16,756 | 14,806 | 16,756 | 16,416 | ||||
Financing receivables, Individually evaluated for impairment | [3] | 2,998 | 4,176 | 2,998 | 4,176 | 3,764 | ||||
Financing receivables, Not individually evaluated for impairment | [3] | 11,808 | 12,580 | 11,808 | 12,580 | 12,652 | ||||
Non-recourse Loans | Corporate borrowers | ||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||||
Beginning balance | 1,055 | 627 | 919 | 688 | ||||||
Provision (Reversal) | 192 | 74 | 353 | (13) | ||||||
Charge-offs | 0 | 0 | (1) | 0 | ||||||
Recoveries | 0 | 0 | 0 | 0 | ||||||
Other | 18 | [1] | (8) | [1] | (6) | [2] | 18 | [1] | ||
Ending balance | 1,265 | 693 | 1,265 | 693 | ||||||
Allowance for credit losses, Individually Evaluated for Impairment | 229 | 47 | 229 | 47 | 166 | |||||
Allowance for credit losses, Not Individually Evaluated for Impairment | 1,036 | 646 | 1,036 | 646 | 753 | |||||
Financing receivables, Ending balance | 143,103 | 89,084 | 143,103 | 89,084 | 99,028 | |||||
Financing receivables, Individually evaluated for impairment | 2,516 | 3,232 | 2,516 | 3,232 | 4,448 | |||||
Financing receivables, Not individually evaluated for impairment | 140,587 | 85,852 | 140,587 | 85,852 | 94,580 | |||||
Other loans | Corporate borrowers | ||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||||
Beginning balance | 17,333 | 18,409 | 20,662 | 18,407 | ||||||
Provision (Reversal) | 1,499 | 1,426 | 3,240 | 2,418 | ||||||
Charge-offs | (687) | (931) | (5,046) | (2,692) | ||||||
Recoveries | 45 | 48 | 142 | 196 | ||||||
Other | 199 | [1] | (277) | [1] | (609) | [2] | 346 | [1] | ||
Ending balance | 18,389 | 18,675 | 18,389 | 18,675 | ||||||
Allowance for credit losses, Individually Evaluated for Impairment | 6,009 | 6,985 | 6,009 | 6,985 | 8,276 | |||||
Allowance for credit losses, Not Individually Evaluated for Impairment | 12,380 | 11,690 | 12,380 | 11,690 | 12,386 | |||||
Financing receivables, Ending balance | 1,251,329 | 1,166,032 | 1,251,329 | 1,166,032 | 1,201,893 | |||||
Financing receivables, Individually evaluated for impairment | 38,119 | 24,215 | 38,119 | 24,215 | 27,452 | |||||
Financing receivables, Not individually evaluated for impairment | 1,213,210 | 1,141,817 | 1,213,210 | 1,141,817 | 1,174,441 | |||||
Direct Financing Leases | ||||||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||||||
Beginning balance | 12,236 | 10,839 | 12,049 | 10,089 | ||||||
Provision (Reversal) | 559 | 1,030 | 2,333 | 2,782 | ||||||
Charge-offs | (599) | (496) | (1,937) | (1,671) | ||||||
Recoveries | 13 | 21 | 23 | 141 | ||||||
Other | 258 | [1] | (123) | [1] | (1) | [2] | (70) | [1] | ||
Ending balance | 12,467 | 11,271 | 12,467 | 11,271 | ||||||
Allowance for credit losses, Individually Evaluated for Impairment | 0 | 0 | 0 | 0 | 0 | |||||
Allowance for credit losses, Not Individually Evaluated for Impairment | 12,467 | 11,271 | 12,467 | 11,271 | 12,049 | |||||
Financing receivables, Ending balance | 1,142,339 | 1,165,792 | 1,142,339 | 1,165,792 | 1,155,632 | |||||
Financing receivables, Individually evaluated for impairment | 0 | 0 | 0 | 0 | 0 | |||||
Financing receivables, Not individually evaluated for impairment | ¥ 1,142,339 | ¥ 1,165,792 | ¥ 1,142,339 | ¥ 1,165,792 | ¥ 1,155,632 | |||||
[1] | Other mainly includes foreign currency translation adjustments. | |||||||||
[2] | Other mainly includes foreign currency translation adjustments and a decrease in allowance related to a sale of a subsidiary. | |||||||||
[3] | Purchased loans represent loans with evidence of deterioration of credit quality since origination and for which it is probable at acquisition that collection of all contractually required payments from the debtors is unlikely. |
Credit Quality of Financing R_4
Credit Quality of Financing Receivables and the Allowance for Credit Losses (Information about Impaired Loans) (Detail) - JPY (¥) ¥ in Millions | Dec. 31, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | |
Financing Receivable, Impaired [Line Items] | ||||
Loans Individually Evaluated for Impairment | ¥ 69,780 | ¥ 58,827 | ¥ 54,416 | |
Unpaid Principal Balance | 69,318 | 57,755 | ||
Related Allowance | 11,254 | 13,731 | 12,787 | |
Consumer borrowers | ||||
Financing Receivable, Impaired [Line Items] | ||||
Loans Individually Evaluated for Impairment | 26,147 | 23,163 | 22,793 | |
Unpaid Principal Balance | 25,826 | 22,512 | ||
Related Allowance | 3,528 | 3,372 | 3,349 | |
Corporate borrowers | ||||
Financing Receivable, Impaired [Line Items] | ||||
Loans Individually Evaluated for Impairment | 40,635 | 31,900 | ||
Unpaid Principal Balance | 40,494 | 31,479 | ||
Related Allowance | 6,238 | 8,442 | ||
Purchased loans | ||||
Financing Receivable, Impaired [Line Items] | ||||
Loans Individually Evaluated for Impairment | [1] | 2,998 | 3,764 | 4,176 |
Unpaid Principal Balance | 2,998 | 3,764 | ||
Related Allowance | [1] | 1,488 | 1,917 | 2,406 |
Consumer - Housing loans | Consumer borrowers | ||||
Financing Receivable, Impaired [Line Items] | ||||
Loans Individually Evaluated for Impairment | 5,983 | 4,434 | ||
Unpaid Principal Balance | 5,965 | 4,181 | ||
Related Allowance | 802 | 835 | ||
Consumer-Card loans | Consumer borrowers | ||||
Financing Receivable, Impaired [Line Items] | ||||
Loans Individually Evaluated for Impairment | 3,914 | 3,945 | ||
Unpaid Principal Balance | 3,906 | 3,937 | ||
Related Allowance | 625 | 633 | ||
Consumer - Other | Consumer borrowers | ||||
Financing Receivable, Impaired [Line Items] | ||||
Loans Individually Evaluated for Impairment | 16,250 | 14,784 | ||
Unpaid Principal Balance | 15,955 | 14,394 | ||
Related Allowance | 2,101 | 1,904 | ||
Non-recourse Loans | Corporate borrowers | ||||
Financing Receivable, Impaired [Line Items] | ||||
Loans Individually Evaluated for Impairment | 2,516 | 4,448 | 3,232 | |
Related Allowance | 229 | 166 | ¥ 47 | |
Non-recourse Loans | Corporate borrowers | Japan | ||||
Financing Receivable, Impaired [Line Items] | ||||
Loans Individually Evaluated for Impairment | 232 | |||
Unpaid Principal Balance | 232 | |||
Related Allowance | 0 | |||
Non-recourse Loans | Corporate borrowers | The Americas | ||||
Financing Receivable, Impaired [Line Items] | ||||
Loans Individually Evaluated for Impairment | 2,516 | 4,216 | ||
Unpaid Principal Balance | 2,516 | 4,216 | ||
Related Allowance | 229 | 166 | ||
Corporate Real Estate Companies Loans | Corporate borrowers | ||||
Financing Receivable, Impaired [Line Items] | ||||
Loans Individually Evaluated for Impairment | 15,182 | 2,380 | ||
Unpaid Principal Balance | 15,169 | 2,367 | ||
Related Allowance | 373 | 419 | ||
Other-Entertainment industry | Corporate borrowers | ||||
Financing Receivable, Impaired [Line Items] | ||||
Loans Individually Evaluated for Impairment | 484 | 1,382 | ||
Unpaid Principal Balance | 483 | 1,374 | ||
Related Allowance | 109 | 490 | ||
Other Corporate Loan | Corporate borrowers | ||||
Financing Receivable, Impaired [Line Items] | ||||
Loans Individually Evaluated for Impairment | 22,453 | 23,690 | ||
Unpaid Principal Balance | 22,326 | 23,290 | ||
Related Allowance | 5,527 | 7,367 | ||
Impaired Financing Receivables with No Related Allowance | ||||
Financing Receivable, Impaired [Line Items] | ||||
Loans Individually Evaluated for Impairment | 30,813 | 17,593 | ||
Unpaid Principal Balance | 30,811 | 17,521 | ||
Related Allowance | 0 | 0 | ||
Impaired Financing Receivables with No Related Allowance | Consumer borrowers | ||||
Financing Receivable, Impaired [Line Items] | ||||
Loans Individually Evaluated for Impairment | 1,088 | 1,158 | ||
Unpaid Principal Balance | 1,086 | 1,111 | ||
Related Allowance | 0 | 0 | ||
Impaired Financing Receivables with No Related Allowance | Corporate borrowers | ||||
Financing Receivable, Impaired [Line Items] | ||||
Loans Individually Evaluated for Impairment | 29,616 | 16,329 | ||
Unpaid Principal Balance | 29,616 | 16,304 | ||
Related Allowance | 0 | 0 | ||
Impaired Financing Receivables with No Related Allowance | Purchased loans | ||||
Financing Receivable, Impaired [Line Items] | ||||
Loans Individually Evaluated for Impairment | 109 | 106 | ||
Unpaid Principal Balance | 109 | 106 | ||
Related Allowance | 0 | 0 | ||
Impaired Financing Receivables with No Related Allowance | Consumer - Housing loans | Consumer borrowers | ||||
Financing Receivable, Impaired [Line Items] | ||||
Loans Individually Evaluated for Impairment | 682 | 589 | ||
Unpaid Principal Balance | 680 | 542 | ||
Related Allowance | 0 | 0 | ||
Impaired Financing Receivables with No Related Allowance | Consumer-Card loans | Consumer borrowers | ||||
Financing Receivable, Impaired [Line Items] | ||||
Loans Individually Evaluated for Impairment | 0 | 0 | ||
Unpaid Principal Balance | 0 | 0 | ||
Related Allowance | 0 | 0 | ||
Impaired Financing Receivables with No Related Allowance | Consumer - Other | Consumer borrowers | ||||
Financing Receivable, Impaired [Line Items] | ||||
Loans Individually Evaluated for Impairment | 406 | 569 | ||
Unpaid Principal Balance | 406 | 569 | ||
Related Allowance | 0 | 0 | ||
Impaired Financing Receivables with No Related Allowance | Non-recourse Loans | Consumer borrowers | The Americas | ||||
Financing Receivable, Impaired [Line Items] | ||||
Loans Individually Evaluated for Impairment | 1,751 | |||
Unpaid Principal Balance | 1,751 | |||
Related Allowance | 0 | |||
Impaired Financing Receivables with No Related Allowance | Non-recourse Loans | Corporate borrowers | Japan | ||||
Financing Receivable, Impaired [Line Items] | ||||
Loans Individually Evaluated for Impairment | 232 | |||
Unpaid Principal Balance | 232 | |||
Related Allowance | 0 | |||
Impaired Financing Receivables with No Related Allowance | Non-recourse Loans | Corporate borrowers | The Americas | ||||
Financing Receivable, Impaired [Line Items] | ||||
Loans Individually Evaluated for Impairment | 14,009 | 3,404 | ||
Unpaid Principal Balance | 14,009 | 3,404 | ||
Related Allowance | 0 | 0 | ||
Impaired Financing Receivables with No Related Allowance | Corporate Real Estate Companies Loans | Corporate borrowers | ||||
Financing Receivable, Impaired [Line Items] | ||||
Loans Individually Evaluated for Impairment | 31 | 887 | ||
Unpaid Principal Balance | 31 | 887 | ||
Related Allowance | 0 | 0 | ||
Impaired Financing Receivables with No Related Allowance | Other-Entertainment industry | Corporate borrowers | ||||
Financing Receivable, Impaired [Line Items] | ||||
Loans Individually Evaluated for Impairment | 13,825 | 0 | ||
Unpaid Principal Balance | 13,825 | 0 | ||
Related Allowance | 0 | 0 | ||
Impaired Financing Receivables with No Related Allowance | Other Corporate Loan | Corporate borrowers | ||||
Financing Receivable, Impaired [Line Items] | ||||
Loans Individually Evaluated for Impairment | 11,806 | |||
Unpaid Principal Balance | 11,781 | |||
Related Allowance | 0 | |||
Impaired Financing Receivables with Related Allowance | ||||
Financing Receivable, Impaired [Line Items] | ||||
Loans Individually Evaluated for Impairment | 38,967 | 41,234 | ||
Unpaid Principal Balance | 38,507 | 40,234 | ||
Related Allowance | 11,254 | 13,731 | ||
Impaired Financing Receivables with Related Allowance | Consumer borrowers | ||||
Financing Receivable, Impaired [Line Items] | ||||
Loans Individually Evaluated for Impairment | 25,059 | 22,005 | ||
Unpaid Principal Balance | 24,740 | 21,401 | ||
Related Allowance | 3,528 | 3,372 | ||
Impaired Financing Receivables with Related Allowance | Corporate borrowers | ||||
Financing Receivable, Impaired [Line Items] | ||||
Loans Individually Evaluated for Impairment | 11,019 | 15,571 | ||
Unpaid Principal Balance | 10,878 | 15,175 | ||
Related Allowance | 6,238 | 8,442 | ||
Impaired Financing Receivables with Related Allowance | Purchased loans | ||||
Financing Receivable, Impaired [Line Items] | ||||
Loans Individually Evaluated for Impairment | 2,889 | 3,658 | ||
Unpaid Principal Balance | 2,889 | 3,658 | ||
Related Allowance | 1,488 | 1,917 | ||
Impaired Financing Receivables with Related Allowance | Consumer - Housing loans | Consumer borrowers | ||||
Financing Receivable, Impaired [Line Items] | ||||
Loans Individually Evaluated for Impairment | 5,301 | 3,845 | ||
Unpaid Principal Balance | 5,285 | 3,639 | ||
Related Allowance | 802 | 835 | ||
Impaired Financing Receivables with Related Allowance | Consumer-Card loans | Consumer borrowers | ||||
Financing Receivable, Impaired [Line Items] | ||||
Loans Individually Evaluated for Impairment | 3,914 | 3,945 | ||
Unpaid Principal Balance | 3,906 | 3,937 | ||
Related Allowance | 625 | 633 | ||
Impaired Financing Receivables with Related Allowance | Consumer - Other | Consumer borrowers | ||||
Financing Receivable, Impaired [Line Items] | ||||
Loans Individually Evaluated for Impairment | 15,844 | 14,215 | ||
Unpaid Principal Balance | 15,549 | 13,825 | ||
Related Allowance | 2,101 | 1,904 | ||
Impaired Financing Receivables with Related Allowance | Non-recourse Loans | Corporate borrowers | Japan | ||||
Financing Receivable, Impaired [Line Items] | ||||
Loans Individually Evaluated for Impairment | 0 | |||
Unpaid Principal Balance | 0 | |||
Related Allowance | 0 | |||
Impaired Financing Receivables with Related Allowance | Non-recourse Loans | Corporate borrowers | The Americas | ||||
Financing Receivable, Impaired [Line Items] | ||||
Loans Individually Evaluated for Impairment | 765 | 812 | ||
Unpaid Principal Balance | 765 | 812 | ||
Related Allowance | 229 | 166 | ||
Impaired Financing Receivables with Related Allowance | Corporate Real Estate Companies Loans | Corporate borrowers | ||||
Financing Receivable, Impaired [Line Items] | ||||
Loans Individually Evaluated for Impairment | 453 | 1,493 | ||
Unpaid Principal Balance | 452 | 1,480 | ||
Related Allowance | 109 | 419 | ||
Impaired Financing Receivables with Related Allowance | Other-Entertainment industry | Corporate borrowers | ||||
Financing Receivable, Impaired [Line Items] | ||||
Loans Individually Evaluated for Impairment | 8,628 | 1,382 | ||
Unpaid Principal Balance | 8,501 | 1,374 | ||
Related Allowance | 5,527 | 490 | ||
Impaired Financing Receivables with Related Allowance | Other Corporate Loan | Corporate borrowers | ||||
Financing Receivable, Impaired [Line Items] | ||||
Loans Individually Evaluated for Impairment | 1,173 | 11,884 | ||
Unpaid Principal Balance | 1,160 | 11,509 | ||
Related Allowance | ¥ 373 | ¥ 7,367 | ||
[1] | Purchased loans represent loans with evidence of deterioration of credit quality since origination and for which it is probable at acquisition that collection of all contractually required payments from the debtors is unlikely. |
Credit Quality of Financing R_5
Credit Quality of Financing Receivables and the Allowance for Credit Losses (Information about Average Recorded Investments in Impaired Loans and Interest Income) (Detail) - JPY (¥) ¥ in Thousands | 3 Months Ended | 9 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Financing Receivable, Impaired [Line Items] | |||||
Average recorded investments in impaired loans | [1] | ¥ 62,509,000 | ¥ 54,439,000 | ¥ 59,714,000 | ¥ 49,780 |
Interest income on impaired loans | 213,000 | 114,000 | 586,000 | 589 | |
Interest on impaired loans collected in cash | 207,000 | 114,000 | 543,000 | 548 | |
Consumer - Housing loans | |||||
Financing Receivable, Impaired [Line Items] | |||||
Average recorded investments in impaired loans | [1] | 4,121 | |||
Interest income on impaired loans | 105 | ||||
Interest on impaired loans collected in cash | 103 | ||||
Consumer-Card loans | |||||
Financing Receivable, Impaired [Line Items] | |||||
Average recorded investments in impaired loans | [1] | 4,029 | |||
Interest income on impaired loans | 46 | ||||
Interest on impaired loans collected in cash | 40 | ||||
Consumer - Other | |||||
Financing Receivable, Impaired [Line Items] | |||||
Average recorded investments in impaired loans | [1] | 12,376 | |||
Interest income on impaired loans | 148 | ||||
Interest on impaired loans collected in cash | 127 | ||||
Consumer borrowers | |||||
Financing Receivable, Impaired [Line Items] | |||||
Average recorded investments in impaired loans | [1] | 25,781,000 | 22,433,000 | 24,268,000 | 20,526 |
Interest income on impaired loans | 106,000 | 78,000 | 341,000 | 299 | |
Interest on impaired loans collected in cash | 100,000 | 78,000 | 300,000 | 270 | |
Consumer borrowers | Consumer - Housing loans | |||||
Financing Receivable, Impaired [Line Items] | |||||
Average recorded investments in impaired loans | [1] | 5,840,000 | 4,561,000 | 4,906,000 | |
Interest income on impaired loans | 34,000 | 16,000 | 109,000 | ||
Interest on impaired loans collected in cash | 32,000 | 16,000 | 105,000 | ||
Consumer borrowers | Consumer-Card loans | |||||
Financing Receivable, Impaired [Line Items] | |||||
Average recorded investments in impaired loans | [1] | 3,908,000 | 4,003,000 | 3,924,000 | |
Interest income on impaired loans | 13,000 | 14,000 | 44,000 | ||
Interest on impaired loans collected in cash | 13,000 | 14,000 | 38,000 | ||
Consumer borrowers | Consumer - Other | |||||
Financing Receivable, Impaired [Line Items] | |||||
Average recorded investments in impaired loans | [1] | 16,033,000 | 13,869,000 | 15,438,000 | |
Interest income on impaired loans | 59,000 | 48,000 | 188,000 | ||
Interest on impaired loans collected in cash | 55,000 | 48,000 | 157,000 | ||
Corporate borrowers | |||||
Financing Receivable, Impaired [Line Items] | |||||
Average recorded investments in impaired loans | [1] | 33,618,000 | 27,695,000 | 31,962,000 | 24,493 |
Interest income on impaired loans | 54,000 | 26,000 | 106,000 | 248 | |
Interest on impaired loans collected in cash | 54,000 | 26,000 | 104,000 | 237 | |
Corporate borrowers | Non-recourse Loans | Japan | |||||
Financing Receivable, Impaired [Line Items] | |||||
Average recorded investments in impaired loans | [1] | 111,000 | 242,000 | 172,000 | 249 |
Interest income on impaired loans | 0 | 0 | 2,000 | 4 | |
Interest on impaired loans collected in cash | 0 | 0 | 2,000 | 4 | |
Corporate borrowers | Non-recourse Loans | The Americas | |||||
Financing Receivable, Impaired [Line Items] | |||||
Average recorded investments in impaired loans | [1] | 2,495,000 | 2,173,000 | 3,077,000 | 2,607 |
Interest income on impaired loans | 0 | 0 | 0 | 0 | |
Interest on impaired loans collected in cash | 0 | 0 | 0 | 0 | |
Corporate borrowers | Corporate Real Estate Companies Loans | |||||
Financing Receivable, Impaired [Line Items] | |||||
Average recorded investments in impaired loans | [1] | 8,312,000 | 2,417,000 | 5,260,000 | 2,490 |
Interest income on impaired loans | 6,000 | 8,000 | 25,000 | 26 | |
Interest on impaired loans collected in cash | 6,000 | 8,000 | 25,000 | 26 | |
Corporate borrowers | Other-Entertainment industry | |||||
Financing Receivable, Impaired [Line Items] | |||||
Average recorded investments in impaired loans | [1] | 499,000 | 1,472,000 | 940,000 | 1,536 |
Interest income on impaired loans | 4,000 | 5,000 | 18,000 | 29 | |
Interest on impaired loans collected in cash | 4,000 | 5,000 | 18,000 | 23 | |
Corporate borrowers | Other Corporate Loan | |||||
Financing Receivable, Impaired [Line Items] | |||||
Average recorded investments in impaired loans | [1] | 22,201,000 | 21,391,000 | 22,513,000 | 17,611 |
Interest income on impaired loans | 44,000 | 13,000 | 61,000 | 189 | |
Interest on impaired loans collected in cash | 44,000 | 13,000 | 59,000 | 184 | |
Purchased loans | |||||
Financing Receivable, Impaired [Line Items] | |||||
Average recorded investments in impaired loans | [1] | 3,110,000 | 4,311,000 | 3,484,000 | 4,761 |
Interest income on impaired loans | 53,000 | 10,000 | 139,000 | 42 | |
Interest on impaired loans collected in cash | ¥ 53,000 | ¥ 10,000 | ¥ 139,000 | ¥ 41 | |
[1] | Average balances are calculated on the basis of fiscal beginning and quarter-end balances. |
Credit Quality of Financing R_6
Credit Quality of Financing Receivables and the Allowance for Credit Losses (Information about Credit Quality Indicators) (Detail) - JPY (¥) ¥ in Millions | Dec. 31, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | |
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | ¥ 4,677,635 | ¥ 4,378,991 | ¥ 4,294,287 | |
Direct Financing Leases | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 1,142,339 | 1,155,632 | 1,165,792 | |
Direct Financing Leases | Japan | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 771,697 | 793,239 | ||
Direct Financing Leases | Overseas | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 370,642 | 362,393 | ||
Consumer borrowers | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 2,126,058 | 1,906,022 | 1,856,623 | |
Consumer borrowers | Consumer - Housing loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 1,840,644 | 1,598,827 | ||
Consumer borrowers | Consumer-Card loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 226,221 | 245,139 | ||
Consumer borrowers | Consumer - Other | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 59,193 | 62,056 | ||
Corporate borrowers | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 1,394,432 | 1,300,921 | ||
Corporate borrowers | Non-recourse Loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 143,103 | 99,028 | 89,084 | |
Corporate borrowers | Non-recourse Loans | Japan | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 72,597 | 49,113 | ||
Corporate borrowers | Non-recourse Loans | The Americas | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 70,506 | 49,915 | ||
Corporate borrowers | Corporate Real Estate Companies Loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 386,716 | 355,049 | ||
Corporate borrowers | Other-Entertainment industry | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 62,954 | 66,047 | ||
Corporate borrowers | Other Corporate Loan | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 801,659 | 780,797 | ||
Purchased loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | [1] | 14,806 | 16,416 | ¥ 16,756 |
Performing | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 4,580,112 | 4,292,945 | ||
Performing | Direct Financing Leases | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 1,126,844 | 1,140,825 | ||
Performing | Direct Financing Leases | Japan | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 765,613 | 787,081 | ||
Performing | Direct Financing Leases | Overseas | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 361,231 | 353,744 | ||
Performing | Consumer borrowers | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 2,087,663 | 1,870,447 | ||
Performing | Consumer borrowers | Consumer - Housing loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 1,832,996 | 1,593,005 | ||
Performing | Consumer borrowers | Consumer-Card loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 220,801 | 239,523 | ||
Performing | Consumer borrowers | Consumer - Other | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 33,866 | 37,919 | ||
Performing | Corporate borrowers | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 1,353,797 | 1,269,021 | ||
Performing | Corporate borrowers | Non-recourse Loans | Japan | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 72,597 | 48,881 | ||
Performing | Corporate borrowers | Non-recourse Loans | The Americas | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 67,990 | 45,699 | ||
Performing | Corporate borrowers | Corporate Real Estate Companies Loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 371,534 | 352,669 | ||
Performing | Corporate borrowers | Other-Entertainment industry | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 62,470 | 64,665 | ||
Performing | Corporate borrowers | Other Corporate Loan | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 779,206 | 757,107 | ||
Performing | Purchased loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 11,808 | 12,652 | ||
Nonperforming Financing Receivable Individually Evaluated for Impairment | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 69,780 | 58,827 | ||
Nonperforming Financing Receivable Individually Evaluated for Impairment | Direct Financing Leases | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 0 | 0 | ||
Nonperforming Financing Receivable Individually Evaluated for Impairment | Direct Financing Leases | Japan | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 0 | 0 | ||
Nonperforming Financing Receivable Individually Evaluated for Impairment | Direct Financing Leases | Overseas | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 0 | 0 | ||
Nonperforming Financing Receivable Individually Evaluated for Impairment | Consumer borrowers | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 26,147 | 23,163 | ||
Nonperforming Financing Receivable Individually Evaluated for Impairment | Consumer borrowers | Consumer - Housing loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 5,983 | 4,434 | ||
Nonperforming Financing Receivable Individually Evaluated for Impairment | Consumer borrowers | Consumer-Card loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 3,914 | 3,945 | ||
Nonperforming Financing Receivable Individually Evaluated for Impairment | Consumer borrowers | Consumer - Other | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 16,250 | 14,784 | ||
Nonperforming Financing Receivable Individually Evaluated for Impairment | Corporate borrowers | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 40,635 | 31,900 | ||
Nonperforming Financing Receivable Individually Evaluated for Impairment | Corporate borrowers | Non-recourse Loans | Japan | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 0 | 232 | ||
Nonperforming Financing Receivable Individually Evaluated for Impairment | Corporate borrowers | Non-recourse Loans | The Americas | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 2,516 | 4,216 | ||
Nonperforming Financing Receivable Individually Evaluated for Impairment | Corporate borrowers | Corporate Real Estate Companies Loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 15,182 | 2,380 | ||
Nonperforming Financing Receivable Individually Evaluated for Impairment | Corporate borrowers | Other-Entertainment industry | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 484 | 1,382 | ||
Nonperforming Financing Receivable Individually Evaluated for Impairment | Corporate borrowers | Other Corporate Loan | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 22,453 | 23,690 | ||
Nonperforming Financing Receivable Individually Evaluated for Impairment | Purchased loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 2,998 | 3,764 | ||
Nonperforming Financing Receivable more than 90 days Past Due Not Individually Evaluated for Impairment | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 27,743 | 27,219 | ||
Nonperforming Financing Receivable more than 90 days Past Due Not Individually Evaluated for Impairment | Direct Financing Leases | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 15,495 | 14,807 | ||
Nonperforming Financing Receivable more than 90 days Past Due Not Individually Evaluated for Impairment | Direct Financing Leases | Japan | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 6,084 | 6,158 | ||
Nonperforming Financing Receivable more than 90 days Past Due Not Individually Evaluated for Impairment | Direct Financing Leases | Overseas | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 9,411 | 8,649 | ||
Nonperforming Financing Receivable more than 90 days Past Due Not Individually Evaluated for Impairment | Consumer borrowers | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 12,248 | 12,412 | ||
Nonperforming Financing Receivable more than 90 days Past Due Not Individually Evaluated for Impairment | Consumer borrowers | Consumer - Housing loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 1,665 | 1,388 | ||
Nonperforming Financing Receivable more than 90 days Past Due Not Individually Evaluated for Impairment | Consumer borrowers | Consumer-Card loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 1,506 | 1,671 | ||
Nonperforming Financing Receivable more than 90 days Past Due Not Individually Evaluated for Impairment | Consumer borrowers | Consumer - Other | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 9,077 | 9,353 | ||
Nonperforming Financing Receivable more than 90 days Past Due Not Individually Evaluated for Impairment | Corporate borrowers | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 0 | 0 | ||
Nonperforming Financing Receivable more than 90 days Past Due Not Individually Evaluated for Impairment | Corporate borrowers | Non-recourse Loans | Japan | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 0 | 0 | ||
Nonperforming Financing Receivable more than 90 days Past Due Not Individually Evaluated for Impairment | Corporate borrowers | Non-recourse Loans | The Americas | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 0 | 0 | ||
Nonperforming Financing Receivable more than 90 days Past Due Not Individually Evaluated for Impairment | Corporate borrowers | Corporate Real Estate Companies Loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 0 | 0 | ||
Nonperforming Financing Receivable more than 90 days Past Due Not Individually Evaluated for Impairment | Corporate borrowers | Other-Entertainment industry | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 0 | 0 | ||
Nonperforming Financing Receivable more than 90 days Past Due Not Individually Evaluated for Impairment | Corporate borrowers | Other Corporate Loan | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 0 | 0 | ||
Nonperforming Financing Receivable more than 90 days Past Due Not Individually Evaluated for Impairment | Purchased loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 0 | 0 | ||
Nonperforming | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 97,523 | 86,046 | ||
Nonperforming | Direct Financing Leases | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 15,495 | 14,807 | ||
Nonperforming | Direct Financing Leases | Japan | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 6,084 | 6,158 | ||
Nonperforming | Direct Financing Leases | Overseas | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 9,411 | 8,649 | ||
Nonperforming | Consumer borrowers | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 38,395 | 35,575 | ||
Nonperforming | Consumer borrowers | Consumer - Housing loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 7,648 | 5,822 | ||
Nonperforming | Consumer borrowers | Consumer-Card loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 5,420 | 5,616 | ||
Nonperforming | Consumer borrowers | Consumer - Other | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 25,327 | 24,137 | ||
Nonperforming | Corporate borrowers | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 40,635 | 31,900 | ||
Nonperforming | Corporate borrowers | Non-recourse Loans | Japan | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 0 | 232 | ||
Nonperforming | Corporate borrowers | Non-recourse Loans | The Americas | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 2,516 | 4,216 | ||
Nonperforming | Corporate borrowers | Corporate Real Estate Companies Loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 15,182 | 2,380 | ||
Nonperforming | Corporate borrowers | Other-Entertainment industry | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 484 | 1,382 | ||
Nonperforming | Corporate borrowers | Other Corporate Loan | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | 22,453 | 23,690 | ||
Nonperforming | Purchased loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Financing receivable | ¥ 2,998 | ¥ 3,764 | ||
[1] | Purchased loans represent loans with evidence of deterioration of credit quality since origination and for which it is probable at acquisition that collection of all contractually required payments from the debtors is unlikely. |
Credit Quality of Financing R_7
Credit Quality of Financing Receivables and the Allowance for Credit Losses (Information about Nonaccrual and Past Due Financing Receivables) (Detail) - JPY (¥) ¥ in Millions | Dec. 31, 2019 | Mar. 31, 2019 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Due Financing Receivables | ¥ 75,042 | ¥ 62,131 |
Total Financing Receivables | 4,662,829 | 4,362,575 |
Non-Accrual | 68,821 | 58,433 |
Non-recourse Loans | Japan | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Due Financing Receivables | 0 | |
Total Financing Receivables | 72,597 | |
Non-Accrual | 0 | |
Non-recourse Loans | The Americas | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Due Financing Receivables | 2,658 | |
Total Financing Receivables | 70,506 | |
Non-Accrual | 2,516 | |
Direct Financing Leases | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Due Financing Receivables | 21,908 | 21,988 |
Total Financing Receivables | 1,142,339 | 1,155,632 |
Non-Accrual | 15,495 | 14,807 |
Direct Financing Leases | Japan | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Due Financing Receivables | 6,784 | 6,837 |
Total Financing Receivables | 771,697 | 793,239 |
Non-Accrual | 6,084 | 6,158 |
Direct Financing Leases | Overseas | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Due Financing Receivables | 15,124 | 15,151 |
Total Financing Receivables | 370,642 | 362,393 |
Non-Accrual | 9,411 | 8,649 |
Consumer borrowers | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Due Financing Receivables | 21,230 | 21,430 |
Total Financing Receivables | 2,126,058 | 1,906,022 |
Non-Accrual | 15,413 | 15,647 |
Consumer borrowers | Consumer - Housing loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Due Financing Receivables | 4,483 | 4,375 |
Total Financing Receivables | 1,840,644 | 1,598,827 |
Non-Accrual | 2,657 | 2,654 |
Consumer borrowers | Consumer-Card loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Due Financing Receivables | 2,461 | 2,675 |
Total Financing Receivables | 226,221 | 245,139 |
Non-Accrual | 1,946 | 2,127 |
Consumer borrowers | Consumer - Other | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Due Financing Receivables | 14,286 | 14,380 |
Total Financing Receivables | 59,193 | 62,056 |
Non-Accrual | 10,810 | 10,866 |
Corporate borrowers | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Due Financing Receivables | 31,904 | 18,713 |
Total Financing Receivables | 1,394,432 | 1,300,921 |
Non-Accrual | 37,913 | 27,979 |
Corporate borrowers | Non-recourse Loans | Japan | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Due Financing Receivables | 0 | |
Total Financing Receivables | 49,113 | |
Non-Accrual | 0 | |
Corporate borrowers | Non-recourse Loans | The Americas | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Due Financing Receivables | 5,382 | |
Total Financing Receivables | 49,915 | |
Non-Accrual | 3,818 | |
Corporate borrowers | Corporate Real Estate Companies Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Due Financing Receivables | 14,337 | 554 |
Total Financing Receivables | 386,716 | 355,049 |
Non-Accrual | 14,368 | 1,392 |
Corporate borrowers | Other-Entertainment industry | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Due Financing Receivables | 24 | 663 |
Total Financing Receivables | 62,954 | 66,047 |
Non-Accrual | 24 | 663 |
Corporate borrowers | Other Corporate Loan | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Due Financing Receivables | 14,885 | 12,114 |
Total Financing Receivables | 801,659 | 780,797 |
Non-Accrual | 21,005 | 22,106 |
30 To 89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Due Financing Receivables | 16,096 | 17,924 |
30 To 89 Days Past Due | Non-recourse Loans | Japan | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Due Financing Receivables | 0 | |
30 To 89 Days Past Due | Non-recourse Loans | The Americas | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Due Financing Receivables | 142 | |
30 To 89 Days Past Due | Direct Financing Leases | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Due Financing Receivables | 6,413 | 7,181 |
30 To 89 Days Past Due | Direct Financing Leases | Japan | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Due Financing Receivables | 700 | 679 |
30 To 89 Days Past Due | Direct Financing Leases | Overseas | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Due Financing Receivables | 5,713 | 6,502 |
30 To 89 Days Past Due | Consumer borrowers | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Due Financing Receivables | 5,817 | 5,783 |
30 To 89 Days Past Due | Consumer borrowers | Consumer - Housing loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Due Financing Receivables | 1,826 | 1,721 |
30 To 89 Days Past Due | Consumer borrowers | Consumer-Card loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Due Financing Receivables | 515 | 548 |
30 To 89 Days Past Due | Consumer borrowers | Consumer - Other | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Due Financing Receivables | 3,476 | 3,514 |
30 To 89 Days Past Due | Corporate borrowers | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Due Financing Receivables | 3,866 | 4,960 |
30 To 89 Days Past Due | Corporate borrowers | Non-recourse Loans | Japan | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Due Financing Receivables | 0 | |
30 To 89 Days Past Due | Corporate borrowers | Non-recourse Loans | The Americas | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Due Financing Receivables | 2,925 | |
30 To 89 Days Past Due | Corporate borrowers | Corporate Real Estate Companies Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Due Financing Receivables | 74 | 2 |
30 To 89 Days Past Due | Corporate borrowers | Other-Entertainment industry | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Due Financing Receivables | 0 | 0 |
30 To 89 Days Past Due | Corporate borrowers | Other Corporate Loan | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Due Financing Receivables | 3,650 | 2,033 |
90 Days or More Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Due Financing Receivables | 58,946 | 44,207 |
90 Days or More Past Due | Non-recourse Loans | Japan | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Due Financing Receivables | 0 | |
90 Days or More Past Due | Non-recourse Loans | The Americas | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Due Financing Receivables | 2,516 | |
90 Days or More Past Due | Direct Financing Leases | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Due Financing Receivables | 15,495 | 14,807 |
90 Days or More Past Due | Direct Financing Leases | Japan | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Due Financing Receivables | 6,084 | 6,158 |
90 Days or More Past Due | Direct Financing Leases | Overseas | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Due Financing Receivables | 9,411 | 8,649 |
90 Days or More Past Due | Consumer borrowers | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Due Financing Receivables | 15,413 | 15,647 |
90 Days or More Past Due | Consumer borrowers | Consumer - Housing loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Due Financing Receivables | 2,657 | 2,654 |
90 Days or More Past Due | Consumer borrowers | Consumer-Card loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Due Financing Receivables | 1,946 | 2,127 |
90 Days or More Past Due | Consumer borrowers | Consumer - Other | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Due Financing Receivables | 10,810 | 10,866 |
90 Days or More Past Due | Corporate borrowers | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Due Financing Receivables | 28,038 | 13,753 |
90 Days or More Past Due | Corporate borrowers | Non-recourse Loans | Japan | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Due Financing Receivables | 0 | |
90 Days or More Past Due | Corporate borrowers | Non-recourse Loans | The Americas | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Due Financing Receivables | 2,457 | |
90 Days or More Past Due | Corporate borrowers | Corporate Real Estate Companies Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Due Financing Receivables | 14,263 | 552 |
90 Days or More Past Due | Corporate borrowers | Other-Entertainment industry | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Due Financing Receivables | 24 | 663 |
90 Days or More Past Due | Corporate borrowers | Other Corporate Loan | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Due Financing Receivables | ¥ 11,235 | ¥ 10,081 |
Credit Quality of Financing R_8
Credit Quality of Financing Receivables and the Allowance for Credit Losses (Information about Troubled Debt Restructurings of Financing Receivables) (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | |
Financing Receivable, Modifications [Line Items] | |||||
Pre-modification outstanding recorded investment | ¥ 4,828 | ¥ 6,102 | ¥ 13,383 | ¥ 15,875 | |
Post-modification outstanding recorded investment | 4,050 | 4,973 | 11,131 | 12,877 | |
Financing Receivables Modification, Subsequently Defaulted Recorded Investment | 571 | 933 | 1,624 | 1,380 | |
Consumer borrowers | |||||
Financing Receivable, Modifications [Line Items] | |||||
Pre-modification outstanding recorded investment | 3,079 | 3,961 | 9,187 | 9,873 | |
Post-modification outstanding recorded investment | 2,301 | 2,832 | 6,935 | 6,876 | |
Financing Receivables Modification, Subsequently Defaulted Recorded Investment | 444 | 933 | 1,497 | 1,380 | |
Consumer borrowers | Consumer - Housing loans | |||||
Financing Receivable, Modifications [Line Items] | |||||
Pre-modification outstanding recorded investment | 10 | 16 | 61 | ||
Post-modification outstanding recorded investment | 5 | 14 | 30 | ||
Consumer borrowers | Consumer-Card loans | |||||
Financing Receivable, Modifications [Line Items] | |||||
Pre-modification outstanding recorded investment | 477 | 552 | 1,422 | 1,624 | |
Post-modification outstanding recorded investment | 364 | 363 | 1,052 | 1,055 | |
Financing Receivables Modification, Subsequently Defaulted Recorded Investment | 4 | 20 | 7 | 23 | |
Consumer borrowers | Consumer - Other | |||||
Financing Receivable, Modifications [Line Items] | |||||
Pre-modification outstanding recorded investment | 2,602 | 3,399 | 7,749 | 8,188 | |
Post-modification outstanding recorded investment | 1,937 | 2,464 | 5,869 | 5,791 | |
Financing Receivables Modification, Subsequently Defaulted Recorded Investment | 440 | 913 | 1,490 | 1,357 | |
Corporate borrowers | |||||
Financing Receivable, Modifications [Line Items] | |||||
Pre-modification outstanding recorded investment | 1,749 | 2,141 | 4,196 | 6,002 | |
Post-modification outstanding recorded investment | 1,749 | 2,141 | 4,196 | 6,001 | |
Financing Receivables Modification, Subsequently Defaulted Recorded Investment | 127 | 127 | |||
Corporate borrowers | Consumer - Other | |||||
Financing Receivable, Modifications [Line Items] | |||||
Pre-modification outstanding recorded investment | 1,409 | ||||
Post-modification outstanding recorded investment | 1,409 | ||||
Corporate borrowers | Other Corporate Loan | |||||
Financing Receivable, Modifications [Line Items] | |||||
Pre-modification outstanding recorded investment | 2,141 | 3,856 | 6,002 | ||
Post-modification outstanding recorded investment | ¥ 2,141 | 3,856 | ¥ 6,001 | ||
Financing Receivables Modification, Subsequently Defaulted Recorded Investment | 127 | ¥ 127 | |||
Corporate borrowers | Non-recourse Loans | The Americas | |||||
Financing Receivable, Modifications [Line Items] | |||||
Pre-modification outstanding recorded investment | 340 | ¥ 340 | |||
Post-modification outstanding recorded investment | ¥ 340 | ¥ 340 |
Credit Quality of Financing R_9
Credit Quality of Financing Receivables and the Allowance for Credit Losses - Additional Information (Detail) ¥ in Millions | Dec. 31, 2019JPY (¥)Property | Mar. 31, 2019JPY (¥)Property |
Receivables [Abstract] | ||
Number of foreclosed residential real estate properties | Property | 0 | 0 |
Residential mortgage loans in process of foreclosure | ¥ | ¥ 323 | ¥ 251 |
Investment in Securities (Summa
Investment in Securities (Summary of Investment in Securities) (Detail) - JPY (¥) ¥ in Millions | Dec. 31, 2019 | Mar. 31, 2019 | |
Investments, Debt and Equity Securities [Abstract] | |||
Equity securities | [1] | ¥ 537,004 | ¥ 549,047 |
Trading debt securities | 1,371 | 1,564 | |
Available-for-sale debt securities | 1,576,349 | 1,264,244 | |
Held-to-maturity debt securities | 113,880 | 114,061 | |
Total | ¥ 2,228,604 | ¥ 1,928,916 | |
[1] | The amount of assets under management of variable annuity and variable life insurance contracts included in equity securities were ¥324,220 million and ¥0 million as of March 31, 2019 and December 31, 2019, respectively. The amount of investment funds that are accounted for under the equity method included in equity securities were ¥75,923 million and ¥0 million as of March 31, 2019 and December 31, 2019, respectively. The amount of investment funds elected for the fair value option included in equity securities were ¥5,811 million and ¥0 million as of March 31, 2019 and December 31, 2019, respectively. |
Investment in Securities (Sum_2
Investment in Securities (Summary of Investment in Securities) (Parenthetical) (Detail) - JPY (¥) ¥ in Millions | Dec. 31, 2019 | Mar. 31, 2019 | |
Schedule of Investments [Line Items] | |||
Equity securities | [1] | ¥ 537,004 | ¥ 549,047 |
Investment Funds Elected for Fair Value Option | |||
Schedule of Investments [Line Items] | |||
Equity securities | 5,997 | 5,811 | |
Variable Annuity and Variable Life Insurance Contracts | |||
Schedule of Investments [Line Items] | |||
Equity securities | 306,524 | 324,220 | |
Investment Funds Accounted for under Equity Method | |||
Schedule of Investments [Line Items] | |||
Equity securities | ¥ 70,556 | ¥ 75,923 | |
[1] | The amount of assets under management of variable annuity and variable life insurance contracts included in equity securities were ¥324,220 million and ¥0 million as of March 31, 2019 and December 31, 2019, respectively. The amount of investment funds that are accounted for under the equity method included in equity securities were ¥75,923 million and ¥0 million as of March 31, 2019 and December 31, 2019, respectively. The amount of investment funds elected for the fair value option included in equity securities were ¥5,811 million and ¥0 million as of March 31, 2019 and December 31, 2019, respectively. |
Investment in Securities - Addi
Investment in Securities - Additional Information (Detail) ¥ in Millions | 3 Months Ended | 9 Months Ended | |||
Dec. 31, 2019JPY (¥)Investment | Dec. 31, 2018JPY (¥) | Dec. 31, 2019JPY (¥)Investment | Dec. 31, 2018JPY (¥) | Mar. 31, 2019JPY (¥)Investment | |
Schedule of Investments [Line Items] | |||||
Net unrealized holding gains (losses) on trading securities | ¥ 22,522 | ¥ (7,547) | ¥ 34,529 | ¥ (4,944) | |
Investment funds fair value | ¥ 25,583 | ¥ 25,583 | ¥ 27,367 | ||
Number of investment securities in an unrealized loss position | Investment | 390 | 390 | 199 | ||
Equity securities | |||||
Schedule of Investments [Line Items] | |||||
Investment funds fair value | ¥ 5,997 | ¥ 5,997 | ¥ 5,811 | ||
Trading Debt Securities | |||||
Schedule of Investments [Line Items] | |||||
Net unrealized holding gains (losses) on trading debt securities | 74 | ¥ (123) | 7 | ¥ (102) | |
Available-for-sale securities | Foreign Government Bond Securities | |||||
Schedule of Investments [Line Items] | |||||
Investment funds fair value | 790 | 790 | 420 | ||
Available-for-sale securities | Foreign Corporate Debt Securities | |||||
Schedule of Investments [Line Items] | |||||
Investment funds fair value | ¥ 18,796 | ¥ 18,796 | ¥ 21,136 |
Investment in Securities (Infor
Investment in Securities (Information About Impairment and Upward or Downward Adjustments Resulting From Observable Price Changes) (Detail) - Equity securities - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2019 | |
Schedule Of Gain Loss On Investments Held At Cost Balance Sheet and Income Statement Reported Amounts Summary [Line Items] | |||||
Carrying value | ¥ 37,137 | ¥ 37,137 | ¥ 35,431 | ||
Accumulated impairments and downward adjustments | (1,495) | (1,495) | (1,688) | ||
Accumulated upward adjustments | 61 | 61 | ¥ 18 | ||
Impairments and downward adjustments | 0 | ¥ 0 | (38) | ¥ (151) | |
Upward adjustments | ¥ 5 | ¥ 0 | ¥ 43 | ¥ 0 |
Investment in Securities (Amort
Investment in Securities (Amortized Cost Basis Amounts, Gross Unrealized Holding Gains, Gross Unrealized Holding Losses and Fair Values of Available-for-Sale Securities and Held-to-Maturity Securities in Each Major Security Type) (Detail) - JPY (¥) ¥ in Millions | Dec. 31, 2019 | Mar. 31, 2019 |
Schedule of Investments [Line Items] | ||
Available-for-sale securities, Amortized cost | ¥ 1,664,813 | ¥ 1,353,801 |
Available-for-sale securities, Gross unrealized gains | 72,060 | 65,299 |
Available-for-sale securities, Gross unrealized losses | (16,002) | (10,530) |
Available-for-sale securities, Fair value | 1,720,871 | 1,408,570 |
Japanese Government Bond Securities | ||
Schedule of Investments [Line Items] | ||
Available-for-sale securities, Amortized cost | 113,880 | 114,061 |
Available-for-sale securities, Gross unrealized gains | 30,642 | 30,265 |
Available-for-sale securities, Gross unrealized losses | 0 | 0 |
Available-for-sale securities, Fair value | 144,522 | 144,326 |
Japanese and foreign government bond securities | ||
Schedule of Investments [Line Items] | ||
Available-for-sale securities, Amortized cost | 578,705 | 416,218 |
Available-for-sale securities, Gross unrealized gains | 21,685 | 20,133 |
Available-for-sale securities, Gross unrealized losses | (9,155) | (5,500) |
Available-for-sale securities, Fair value | 591,235 | 430,851 |
Japanese prefectural and foreign municipal bond securities | ||
Schedule of Investments [Line Items] | ||
Available-for-sale securities, Amortized cost | 234,273 | 189,792 |
Available-for-sale securities, Gross unrealized gains | 4,639 | 3,749 |
Available-for-sale securities, Gross unrealized losses | (624) | (236) |
Available-for-sale securities, Fair value | 238,288 | 193,305 |
Corporate debt securities | ||
Schedule of Investments [Line Items] | ||
Available-for-sale securities, Amortized cost | 588,853 | 485,156 |
Available-for-sale securities, Gross unrealized gains | 9,187 | 5,205 |
Available-for-sale securities, Gross unrealized losses | (3,285) | (2,364) |
Available-for-sale securities, Fair value | 594,755 | 487,997 |
CMBS and RMBS in the Americas | ||
Schedule of Investments [Line Items] | ||
Available-for-sale securities, Amortized cost | 56,764 | 59,954 |
Available-for-sale securities, Gross unrealized gains | 2,538 | 2,566 |
Available-for-sale securities, Gross unrealized losses | (1,340) | (1,041) |
Available-for-sale securities, Fair value | 57,962 | 61,479 |
Other asset-backed securities and debt securities | ||
Schedule of Investments [Line Items] | ||
Available-for-sale securities, Amortized cost | 92,338 | 88,620 |
Available-for-sale securities, Gross unrealized gains | 3,369 | 3,381 |
Available-for-sale securities, Gross unrealized losses | (1,598) | (1,389) |
Available-for-sale securities, Fair value | 94,109 | 90,612 |
Equity securities | ||
Schedule of Investments [Line Items] | ||
Available-for-sale securities, Amortized cost | 1,550,933 | 1,239,740 |
Available-for-sale securities, Gross unrealized gains | 41,418 | 35,034 |
Available-for-sale securities, Gross unrealized losses | (16,002) | (10,530) |
Available-for-sale securities, Fair value | ¥ 1,576,349 | ¥ 1,264,244 |
Investment in Securities (Inf_2
Investment in Securities (Information about Available-for-Sale and Held-to-Maturity Securities with Gross Unrealized Losses and Length of Time that Individual Securities Have Been in Continuous Unrealized Loss Position) (Detail) - JPY (¥) ¥ in Millions | Dec. 31, 2019 | Mar. 31, 2019 |
Japanese and foreign government bond securities | ||
Investments, Unrealized Loss Position [Line Items] | ||
Available-for-sale Securities, Less than 12 months Fair value | ¥ 51,551 | |
Available-for-sale Securities, Less than 12 months Gross unrealized losses | (1,119) | |
Available-for-sale Securities, 12 months or more Fair value | 98,830 | |
Available-for-sale Securities, 12 months or more Gross unrealized losses | (4,381) | |
Available-for-sale Securities, Total Fair value | 150,381 | |
Available-for-sale Securities, Total Gross unrealized losses | (5,500) | |
Available-for-sale debt Securities, Less than 12 months Fair value | ¥ 86,920 | |
Available-for-sale debt Securities, Less than 12 months Gross unrealized losses | (2,228) | |
Available-for-sale debt Securities, 12 months or more Fair value | 153,775 | |
Available-for-sale debt Securities, 12 months or more Gross unrealized losses | (6,927) | |
Available-for-sale debt Securities, Total Fair value | 240,695 | |
Available-for-sale debt Securities, Total Gross unrealized losses | (9,155) | |
Japanese prefectural and foreign municipal bond securities | ||
Investments, Unrealized Loss Position [Line Items] | ||
Available-for-sale Securities, Less than 12 months Fair value | 1,329 | |
Available-for-sale Securities, Less than 12 months Gross unrealized losses | (35) | |
Available-for-sale Securities, 12 months or more Fair value | 4,510 | |
Available-for-sale Securities, 12 months or more Gross unrealized losses | (201) | |
Available-for-sale Securities, Total Fair value | 5,839 | |
Available-for-sale Securities, Total Gross unrealized losses | (236) | |
Available-for-sale debt Securities, Less than 12 months Fair value | 71,088 | |
Available-for-sale debt Securities, Less than 12 months Gross unrealized losses | (623) | |
Available-for-sale debt Securities, 12 months or more Fair value | 220 | |
Available-for-sale debt Securities, 12 months or more Gross unrealized losses | (1) | |
Available-for-sale debt Securities, Total Fair value | 71,308 | |
Available-for-sale debt Securities, Total Gross unrealized losses | (624) | |
Corporate debt securities | ||
Investments, Unrealized Loss Position [Line Items] | ||
Available-for-sale Securities, Less than 12 months Fair value | 9,156 | |
Available-for-sale Securities, Less than 12 months Gross unrealized losses | (18) | |
Available-for-sale Securities, 12 months or more Fair value | 68,924 | |
Available-for-sale Securities, 12 months or more Gross unrealized losses | (2,346) | |
Available-for-sale Securities, Total Fair value | 78,080 | |
Available-for-sale Securities, Total Gross unrealized losses | (2,364) | |
Available-for-sale debt Securities, Less than 12 months Fair value | 152,919 | |
Available-for-sale debt Securities, Less than 12 months Gross unrealized losses | (1,351) | |
Available-for-sale debt Securities, 12 months or more Fair value | 23,731 | |
Available-for-sale debt Securities, 12 months or more Gross unrealized losses | (1,934) | |
Available-for-sale debt Securities, Total Fair value | 176,650 | |
Available-for-sale debt Securities, Total Gross unrealized losses | (3,285) | |
CMBS and RMBS in the Americas | ||
Investments, Unrealized Loss Position [Line Items] | ||
Available-for-sale Securities, Less than 12 months Fair value | 10,194 | |
Available-for-sale Securities, Less than 12 months Gross unrealized losses | (362) | |
Available-for-sale Securities, 12 months or more Fair value | 7,147 | |
Available-for-sale Securities, 12 months or more Gross unrealized losses | (679) | |
Available-for-sale Securities, Total Fair value | 17,341 | |
Available-for-sale Securities, Total Gross unrealized losses | (1,041) | |
Available-for-sale debt Securities, Less than 12 months Fair value | 8,700 | |
Available-for-sale debt Securities, Less than 12 months Gross unrealized losses | (273) | |
Available-for-sale debt Securities, 12 months or more Fair value | 8,715 | |
Available-for-sale debt Securities, 12 months or more Gross unrealized losses | (1,067) | |
Available-for-sale debt Securities, Total Fair value | 17,415 | |
Available-for-sale debt Securities, Total Gross unrealized losses | (1,340) | |
Other asset-backed securities and debt securities | ||
Investments, Unrealized Loss Position [Line Items] | ||
Available-for-sale Securities, Less than 12 months Fair value | 10,253 | |
Available-for-sale Securities, Less than 12 months Gross unrealized losses | (411) | |
Available-for-sale Securities, 12 months or more Fair value | 28,748 | |
Available-for-sale Securities, 12 months or more Gross unrealized losses | (978) | |
Available-for-sale Securities, Total Fair value | 39,001 | |
Available-for-sale Securities, Total Gross unrealized losses | (1,389) | |
Available-for-sale debt Securities, Less than 12 months Fair value | 13,573 | |
Available-for-sale debt Securities, Less than 12 months Gross unrealized losses | (254) | |
Available-for-sale debt Securities, 12 months or more Fair value | 26,723 | |
Available-for-sale debt Securities, 12 months or more Gross unrealized losses | (1,344) | |
Available-for-sale debt Securities, Total Fair value | 40,296 | |
Available-for-sale debt Securities, Total Gross unrealized losses | (1,598) | |
Equity securities | ||
Investments, Unrealized Loss Position [Line Items] | ||
Available-for-sale Securities, Less than 12 months Fair value | 82,483 | |
Available-for-sale Securities, Less than 12 months Gross unrealized losses | (1,945) | |
Available-for-sale Securities, 12 months or more Fair value | 208,159 | |
Available-for-sale Securities, 12 months or more Gross unrealized losses | (8,585) | |
Available-for-sale Securities, Total Fair value | 290,642 | |
Available-for-sale Securities, Total Gross unrealized losses | ¥ (10,530) | |
Available-for-sale debt Securities, Less than 12 months Fair value | 333,200 | |
Available-for-sale debt Securities, Less than 12 months Gross unrealized losses | (4,729) | |
Available-for-sale debt Securities, 12 months or more Fair value | 213,164 | |
Available-for-sale debt Securities, 12 months or more Gross unrealized losses | (11,273) | |
Available-for-sale debt Securities, Total Fair value | 546,364 | |
Available-for-sale debt Securities, Total Gross unrealized losses | ¥ (16,002) |
Investment in Securities (Total
Investment in Securities (Total Other-Than-Temporary Impairment with Offset for Amount of Total Other-Than-Temporary Impairment Recognized in Other Comprehensive Income (Loss)) (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | |
Investments, Debt and Equity Securities [Abstract] | ||||
Total other-than-temporary impairment losses | ¥ 0 | ¥ 113 | ¥ 0 | ¥ 806 |
Portion of loss recognized in other comprehensive income (before taxes) | 0 | 0 | 0 | (136) |
Net impairment losses recognized in earnings | ¥ 0 | ¥ 113 | ¥ 0 | ¥ 670 |
Investment in Securities (Roll-
Investment in Securities (Roll-Forwards of Amount of Accumulated Other-Than-Temporary Impairments Related to Credit Losses) (Detail) - JPY (¥) ¥ in Millions | 9 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Investments in Debt Securities [Abstract] | ||
Beginning balance | ¥ 2,102 | ¥ 1,021 |
Credit loss for which an other-than-temporary impairment was not previously recognized | 0 | 551 |
For securities sold or redeemed | 0 | (22) |
Ending balance | ¥ 2,102 | ¥ 1,550 |
Transfer of Financial Assets -
Transfer of Financial Assets - Additional Information (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | |
Transfer of Financial Assets Accounted for as Sales [Line Items] | ||||
Gain (losses) on sale from securitization and loan sales | ¥ 3,675 | ¥ 4,110 | ¥ 13,378 | ¥ 12,122 |
Installment Loans | ||||
Transfer of Financial Assets Accounted for as Sales [Line Items] | ||||
Installment loans | ¥ 154,890 | ¥ 152,310 | ¥ 431,379 | ¥ 370,946 |
Transfer of Financial Assets _2
Transfer of Financial Assets - Roll-Forwards of Amount of Servicing Assets (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | |
Transfers and Servicing [Abstract] | ||||
Beginning balance | ¥ 32,364 | ¥ 31,068 | ¥ 31,572 | ¥ 28,756 |
Increase mainly from loans sold with servicing retained | 2,253 | 2,038 | 6,354 | 4,696 |
Decrease mainly from amortization | (1,339) | (1,193) | (3,764) | (3,526) |
Increase (Decrease) from the effects of changes in foreign exchange rates | 496 | (717) | (388) | 1,270 |
Ending balance | ¥ 33,774 | ¥ 31,196 | ¥ 33,774 | ¥ 31,196 |
Transfer of Financial Assets _3
Transfer of Financial Assets - Fair Value of Servicing Assets (Detail) - JPY (¥) ¥ in Millions | Dec. 31, 2019 | Mar. 31, 2019 |
Transfers and Servicing [Abstract] | ||
Beginning balance | ¥ 39,846 | ¥ 35,681 |
Ending balance | ¥ 42,028 | ¥ 39,846 |
Variable Interest Entities (Inf
Variable Interest Entities (Information about Consolidated VIEs) (Detail) - JPY (¥) ¥ in Millions | Dec. 31, 2019 | Mar. 31, 2019 | |
Variable Interest Entity [Line Items] | |||
Total assets | [1] | ¥ 948,664 | ¥ 832,524 |
Total Liabilities | [1] | 505,787 | 450,200 |
Assets which are pledged as collateral | [2] | 749,746 | 644,001 |
Commitments | [3] | 42,015 | 54,533 |
Liquidating Customer Assets | |||
Variable Interest Entity [Line Items] | |||
Total assets | [1] | 0 | 0 |
Total Liabilities | [1] | 0 | 0 |
Assets which are pledged as collateral | [2] | 0 | 0 |
Commitments | [3] | 0 | 0 |
Acquisition Of Real Estate And Real Estate Development Projects For Customers | |||
Variable Interest Entity [Line Items] | |||
Total assets | [1] | 2,485 | 2,014 |
Total Liabilities | [1] | 1 | 0 |
Assets which are pledged as collateral | [2] | 0 | 0 |
Commitments | [3] | 0 | 0 |
Acquisition of real estate for the Company and its subsidiaries' real estate-related business | |||
Variable Interest Entity [Line Items] | |||
Total assets | [1] | 89,455 | 94,404 |
Total Liabilities | [1] | 16,597 | 31,208 |
Assets which are pledged as collateral | [2] | 18,204 | 49,587 |
Commitments | [3] | 0 | 0 |
Corporate Rehabilitation Support Business | |||
Variable Interest Entity [Line Items] | |||
Total assets | [1] | 750 | 564 |
Total Liabilities | [1] | 262 | 30 |
Assets which are pledged as collateral | [2] | 0 | 0 |
Commitments | [3] | 0 | 0 |
Investment in securities | |||
Variable Interest Entity [Line Items] | |||
Total assets | [1] | 64,121 | 72,347 |
Total Liabilities | [1] | 44 | 121 |
Assets which are pledged as collateral | [2] | 0 | 42 |
Commitments | [3] | 0 | 0 |
Securitizing Financial Assets | |||
Variable Interest Entity [Line Items] | |||
Total assets | [1] | 221,885 | 228,859 |
Total Liabilities | [1] | 129,068 | 175,115 |
Assets which are pledged as collateral | [2] | 221,885 | 228,859 |
Commitments | [3] | 0 | 0 |
Securitization Of Loans Receivable Originated By Third Parties | |||
Variable Interest Entity [Line Items] | |||
Total assets | [1] | 2,495 | 2,264 |
Total Liabilities | [1] | 3,193 | 2,729 |
Assets which are pledged as collateral | [2] | 2,495 | 2,264 |
Commitments | [3] | 0 | 0 |
Power Generation Projects | |||
Variable Interest Entity [Line Items] | |||
Total assets | [1] | 397,330 | 282,739 |
Total Liabilities | [1] | 285,406 | 195,915 |
Assets which are pledged as collateral | [2] | 356,841 | 242,937 |
Commitments | [3] | 42,015 | 54,533 |
Other VIEs | |||
Variable Interest Entity [Line Items] | |||
Total assets | [1] | 170,143 | 149,333 |
Total Liabilities | [1] | 71,216 | 45,082 |
Assets which are pledged as collateral | [2] | 150,321 | 120,312 |
Commitments | [3] | ¥ 0 | ¥ 0 |
[1] | The assets of most VIEs are used only to repay the liabilities of the VIEs, and the creditors of the liabilities of most VIEs have no recourse to other assets of the Company and its subsidiaries. | ||
[2] | The assets are pledged as collateral by VIE for financing of the VIE. | ||
[3] | This item represents remaining balance of commitments that could require the Company and its subsidiaries to provide investments or loans to the VIE. |
Variable Interest Entities (I_2
Variable Interest Entities (Information about Non-consolidated VIEs) (Detail) - JPY (¥) ¥ in Millions | Dec. 31, 2019 | Mar. 31, 2019 | |
Variable Interest Entity [Line Items] | |||
Total assets | ¥ 5,118,294 | ¥ 4,937,307 | |
Non-recourse loans | 2,929 | 3,200 | |
Investments | 90,882 | 120,866 | |
Maximum exposure to loss | [1] | 110,956 | 147,260 |
Liquidating Customer Assets | |||
Variable Interest Entity [Line Items] | |||
Total assets | 8,452 | 8,524 | |
Non-recourse loans | 0 | 0 | |
Investments | 991 | 991 | |
Maximum exposure to loss | [1] | 991 | 991 |
Acquisition Of Real Estate And Real Estate Development Projects For Customers | |||
Variable Interest Entity [Line Items] | |||
Total assets | 36,619 | 34,872 | |
Non-recourse loans | 0 | 0 | |
Investments | 2,527 | 3,426 | |
Maximum exposure to loss | [1] | 2,527 | 3,426 |
Acquisition of real estate for the Company and its subsidiaries' real estate-related business | |||
Variable Interest Entity [Line Items] | |||
Total assets | 0 | 0 | |
Non-recourse loans | 0 | 0 | |
Investments | 0 | 0 | |
Maximum exposure to loss | [1] | 0 | 0 |
Corporate Rehabilitation Support Business | |||
Variable Interest Entity [Line Items] | |||
Total assets | 0 | 0 | |
Non-recourse loans | 0 | 0 | |
Investments | 0 | 0 | |
Maximum exposure to loss | [1] | 0 | 0 |
Investment in securities | |||
Variable Interest Entity [Line Items] | |||
Total assets | 3,723,534 | 3,493,461 | |
Non-recourse loans | 0 | 0 | |
Investments | 56,979 | 60,329 | |
Maximum exposure to loss | [1] | 74,001 | 81,337 |
Securitizing Financial Assets | |||
Variable Interest Entity [Line Items] | |||
Total assets | 0 | 0 | |
Non-recourse loans | 0 | 0 | |
Investments | 0 | 0 | |
Maximum exposure to loss | [1] | 0 | 0 |
Securitization Of Loans Receivable Originated By Third Parties | |||
Variable Interest Entity [Line Items] | |||
Total assets | 1,128,788 | 982,353 | |
Non-recourse loans | 0 | 0 | |
Investments | 17,227 | 21,768 | |
Maximum exposure to loss | [1] | 17,233 | 21,776 |
Power Generation Projects | |||
Variable Interest Entity [Line Items] | |||
Total assets | 25,264 | 26,495 | |
Non-recourse loans | 0 | 0 | |
Investments | 1,709 | 1,783 | |
Maximum exposure to loss | [1] | 1,709 | 1,783 |
Other VIEs | |||
Variable Interest Entity [Line Items] | |||
Total assets | 195,637 | 391,602 | |
Non-recourse loans | 2,929 | 3,200 | |
Investments | 11,449 | 32,569 | |
Maximum exposure to loss | [1] | ¥ 14,495 | ¥ 37,947 |
[1] | Maximum exposure to loss includes remaining balance of commitments that could require the Company and its subsidiaries to provide investments or loans to the VIE. |
Investment in Affiliates (Summa
Investment in Affiliates (Summary of Investment in Affiliates) (Detail) - JPY (¥) ¥ in Millions | Dec. 31, 2019 | Mar. 31, 2019 |
Investments in and Advances to Affiliates, Schedule of Investments [Abstract] | ||
Shares | ¥ 770,274 | ¥ 789,638 |
Loans and others | 51,709 | 53,122 |
Investment in Affiliates | ¥ 821,983 | ¥ 842,760 |
Redeemable Noncontrolling Int_3
Redeemable Noncontrolling Interests (Changes in Redeemable Noncontrolling Interests) (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | |
Statement of Stockholders' Equity [Abstract] | ||||
Beginning balance | ¥ 9,780 | ¥ 7,420 | ||
Comprehensive income | ||||
Net income | 359 | 434 | ||
Other comprehensive income (loss) | ||||
Net change of foreign currency translation adjustments | (130) | 326 | ||
Total other comprehensive income (loss) | (130) | 326 | ||
Comprehensive income | ¥ 182 | ¥ 173 | 229 | 760 |
Dividends | (289) | (501) | ||
Ending balance | ¥ 9,720 | ¥ 7,679 | ¥ 9,720 | ¥ 7,679 |
Accumulated Other Comprehensi_3
Accumulated Other Comprehensive Income (Loss) (Changes in Components of Accumulated Other Comprehensive Income (Loss)) (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | |
Beginning Balance | ¥ 3,027,716 | ¥ 2,929,899 | ¥ 2,953,201 | ¥ 2,798,874 |
Adjusted balance | 2,803,405 | |||
Total other comprehensive income (loss) | 19,639 | (20,311) | (18,240) | (6,720) |
Ending Balance | 3,079,707 | 2,883,350 | 3,079,707 | 2,883,350 |
Accounting Standards Update 2016-01 | ||||
Cumulative effect of adopting Accounting Standards Update | 0 | |||
AOCI Attributable to Parent | ||||
Beginning Balance | (97,128) | (35,696) | (61,343) | (45,566) |
Adjusted balance | (48,465) | |||
Total other comprehensive income (loss) | 19,639 | (20,311) | (18,240) | (6,720) |
Transaction with noncontrolling interests | (39) | (40) | ||
Less: Other Comprehensive Income (Loss) Attributable to the Noncontrolling Interests | 272 | (407) | (1,547) | (88) |
Less: Other Comprehensive Income (Loss) Attributable to the Redeemable Noncontrolling Interests | 145 | (176) | (130) | 326 |
Ending Balance | (77,906) | (55,463) | (77,906) | (55,463) |
AOCI Attributable to Parent | Accounting Standards Update 2016-01 | ||||
Cumulative effect of adopting Accounting Standards Update | (2,899) | |||
Net unrealized gains (losses) on investment in securities | ||||
Beginning Balance | 22,300 | 5,609 | 17,389 | 10,465 |
Adjusted balance | 7,215 | |||
Net unrealized gains (losses) | (2,838) | (391) | 5,472 | 497 |
Reclassification adjustment included in net income, net of tax | (789) | 162 | (4,195) | (2,332) |
Total other comprehensive income (loss) | (3,627) | (229) | 1,277 | (1,835) |
Transaction with noncontrolling interests | 0 | 0 | ||
Less: Other Comprehensive Income (Loss) Attributable to the Noncontrolling Interests | 1 | 0 | (6) | 0 |
Less: Other Comprehensive Income (Loss) Attributable to the Redeemable Noncontrolling Interests | 0 | 0 | 0 | 0 |
Ending Balance | 18,672 | 5,380 | 18,672 | 5,380 |
Net unrealized gains (losses) on investment in securities | Accounting Standards Update 2016-01 | ||||
Cumulative effect of adopting Accounting Standards Update | (3,250) | |||
Debt Valuation Adjustments | ||||
Beginning Balance | 786 | 270 | 582 | 0 |
Adjusted balance | 351 | |||
Net unrealized gains (losses) | (54) | 391 | 168 | 322 |
Reclassification adjustment included in net income, net of tax | (14) | (7) | (32) | (19) |
Total other comprehensive income (loss) | (68) | 384 | 136 | 303 |
Transaction with noncontrolling interests | 0 | 0 | ||
Less: Other Comprehensive Income (Loss) Attributable to the Noncontrolling Interests | 0 | 0 | 0 | 0 |
Less: Other Comprehensive Income (Loss) Attributable to the Redeemable Noncontrolling Interests | 0 | 0 | 0 | 0 |
Ending Balance | 718 | 654 | 718 | 654 |
Debt Valuation Adjustments | Accounting Standards Update 2016-01 | ||||
Cumulative effect of adopting Accounting Standards Update | 351 | |||
Defined benefit pension plans | ||||
Beginning Balance | (27,116) | (20,688) | (27,902) | (20,487) |
Adjusted balance | (20,487) | |||
Net unrealized gains (losses) | (406) | 232 | 129 | 85 |
Reclassification adjustment included in net income, net of tax | 112 | (26) | 363 | (80) |
Total other comprehensive income (loss) | (294) | 206 | 492 | 5 |
Transaction with noncontrolling interests | (50) | (52) | ||
Less: Other Comprehensive Income (Loss) Attributable to the Noncontrolling Interests | (1) | 3 | (1) | 1 |
Less: Other Comprehensive Income (Loss) Attributable to the Redeemable Noncontrolling Interests | 0 | 0 | 0 | 0 |
Ending Balance | (27,409) | (20,535) | (27,409) | (20,535) |
Defined benefit pension plans | Accounting Standards Update 2016-01 | ||||
Cumulative effect of adopting Accounting Standards Update | 0 | |||
Foreign currency translation adjustments | ||||
Beginning Balance | (79,587) | (17,802) | (43,558) | (31,806) |
Adjusted balance | (31,806) | |||
Net unrealized gains (losses) | 20,802 | (19,918) | (18,801) | (5,130) |
Reclassification adjustment included in net income, net of tax | 658 | 0 | 2,216 | 1 |
Total other comprehensive income (loss) | 21,460 | (19,918) | (16,585) | (5,129) |
Transaction with noncontrolling interests | 11 | 12 | ||
Less: Other Comprehensive Income (Loss) Attributable to the Noncontrolling Interests | 200 | (386) | (1,541) | (102) |
Less: Other Comprehensive Income (Loss) Attributable to the Redeemable Noncontrolling Interests | 145 | (176) | (130) | 326 |
Ending Balance | (58,472) | (37,147) | (58,472) | (37,147) |
Foreign currency translation adjustments | Accounting Standards Update 2016-01 | ||||
Cumulative effect of adopting Accounting Standards Update | 0 | |||
Net unrealized gains (losses) on derivative instruments | ||||
Beginning Balance | (13,511) | (3,085) | (7,854) | (3,738) |
Adjusted balance | (3,738) | |||
Net unrealized gains (losses) | 1,877 | (487) | (4,444) | (526) |
Reclassification adjustment included in net income, net of tax | 291 | (267) | 884 | 462 |
Total other comprehensive income (loss) | 2,168 | (754) | (3,560) | (64) |
Transaction with noncontrolling interests | 0 | 0 | ||
Less: Other Comprehensive Income (Loss) Attributable to the Noncontrolling Interests | 72 | (24) | 1 | 13 |
Less: Other Comprehensive Income (Loss) Attributable to the Redeemable Noncontrolling Interests | 0 | 0 | 0 | 0 |
Ending Balance | ¥ (11,415) | ¥ (3,815) | ¥ (11,415) | (3,815) |
Net unrealized gains (losses) on derivative instruments | Accounting Standards Update 2016-01 | ||||
Cumulative effect of adopting Accounting Standards Update | ¥ 0 |
Accumulated Other Comprehensi_4
Accumulated Other Comprehensive Income (Loss) (Changes in Components of Accumulated Other Comprehensive Income (Loss)) (Parenthetical) (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | |
Net unrealized gains (losses) on derivative instruments | ||||
Net unrealized gains (losses), tax | ¥ (584) | ¥ 212 | ¥ 996 | ¥ 174 |
Reclassification adjustment included in net income, tax | (109) | 86 | (323) | (132) |
Foreign currency translation adjustments | ||||
Net unrealized gains (losses), tax | 6,858 | (8,709) | (823) | 155 |
Reclassification adjustment included in net income, tax | (348) | 0 | (1,058) | (1) |
Defined benefit pension plans | ||||
Net unrealized gains (losses), tax | 151 | (94) | (32) | (71) |
Reclassification adjustment included in net income, tax | (40) | 11 | (142) | 32 |
Net unrealized gains (losses) on investment in securities | ||||
Net unrealized gains (losses), tax | 1,116 | (114) | (2,053) | (256) |
Reclassification adjustment included in net income, tax | 313 | (118) | 1,700 | 731 |
Debt valuation adjustments | ||||
Net unrealized gains (losses), tax | 21 | (153) | (65) | (127) |
Reclassification adjustment included in net income, tax | ¥ 5 | ¥ 3 | ¥ 12 | ¥ 8 |
Accumulated Other Comprehensi_5
Accumulated Other Comprehensive Income (Loss) (Amounts Reclassified to Net Income from Accumulated Other Comprehensive Income (loss)) (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Gains on sales of subsidiaries and affiliates and liquidation losses, net | ¥ 25,200 | ¥ 1,438 | ¥ 58,488 | ¥ 20,470 |
Life insurance costs | (78,177) | (27,065) | (209,137) | (152,799) |
Write-downs of securities and other | 0 | (113) | (36) | (821) |
Income tax (expense) or benefit | (35,684) | 8,186 | (102,649) | (56,140) |
Net Income | 86,145 | 82,409 | 247,809 | 239,028 |
Other Operating Income (Expense), Net | (644) | (745) | 131 | (242) |
Interest Expense | 23,763 | 25,528 | 74,006 | 67,376 |
Other (income) and expense, net | (644) | (745) | 131 | (242) |
Reclassification out of Accumulated Other Comprehensive Income | Net unrealized gains (losses) on investment in securities | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Total before income tax | 1,102 | (280) | 5,895 | 3,063 |
Income tax (expense) or benefit | (313) | 118 | (1,700) | (731) |
Net Income | 789 | (162) | 4,195 | 2,332 |
Reclassification out of Accumulated Other Comprehensive Income | Net unrealized gains (losses) on investment in securities | Sale of Investments | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Gains on investment securities and dividend | 245 | 88 | 2,159 | 3,211 |
Life insurance premiums and related investment income | 1,578 | 0 | 5,133 | 1,545 |
Reclassification out of Accumulated Other Comprehensive Income | Net unrealized gains (losses) on investment in securities | Amortization of investment securities | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Life insurance premiums and related investment income | (316) | (14) | (613) | (128) |
Finance revenues | (405) | (241) | (784) | (895) |
Write-downs of securities and other | (113) | (670) | ||
Reclassification out of Accumulated Other Comprehensive Income | Defined benefit pension plans | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Amortization of prior service credit | 249 | 269 | 730 | 807 |
Amortization of net actuarial loss | (401) | (231) | (1,233) | (692) |
Amortization of transition obligation | 0 | (1) | (2) | (3) |
Total before income tax | (152) | 37 | (505) | 112 |
Income tax (expense) or benefit | 40 | (11) | 142 | (32) |
Net Income | (112) | 26 | (363) | 80 |
Reclassification out of Accumulated Other Comprehensive Income | Foreign currency translation adjustments | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Gains on sales of subsidiaries and affiliates and liquidation losses, net | (1,399) | (1,399) | (2) | |
Total before income tax | (1,006) | (3,274) | (2) | |
Income tax (expense) or benefit | 348 | 1,058 | 1 | |
Net Income | (658) | (2,216) | (1) | |
Reclassification out of Accumulated Other Comprehensive Income | Foreign currency translation adjustments | Foreign exchange contracts | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Other Operating Income (Expense), Net | 393 | (1,875) | ||
Other (income) and expense, net | 393 | (1,875) | ||
Reclassification out of Accumulated Other Comprehensive Income | Net unrealized gains (losses) on derivative instruments | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Total before income tax | (400) | 353 | (1,207) | (594) |
Income tax (expense) or benefit | 109 | (86) | 323 | 132 |
Net Income | (291) | 267 | (884) | (462) |
Reclassification out of Accumulated Other Comprehensive Income | Net unrealized gains (losses) on derivative instruments | Interest rate swap agreements | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Finance revenues/Interest expense | 4 | 141 | ||
Other Operating Income (Expense), Net | (218) | (584) | ||
Other (income) and expense, net | (218) | (584) | ||
Reclassification out of Accumulated Other Comprehensive Income | Net unrealized gains (losses) on derivative instruments | Foreign exchange contracts | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Other Operating Income (Expense), Net | (230) | (220) | ||
Interest Expense | (107) | (255) | ||
Other (income) and expense, net | (230) | (220) | ||
Reclassification out of Accumulated Other Comprehensive Income | Net unrealized gains (losses) on derivative instruments | Foreign currency swap agreements | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Other Operating Income (Expense), Net | (75) | |||
Other (income) and expense, net | (75) | |||
Finance revenues/Interest expense/Other (income) and expense, net | 579 | (368) | (515) | |
Reclassification out of Accumulated Other Comprehensive Income | Debt valuation adjustments | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Life insurance costs | 19 | 10 | 44 | 27 |
Total before income tax | 19 | 10 | 44 | 27 |
Income tax (expense) or benefit | (5) | (3) | (12) | (8) |
Net Income | ¥ 14 | ¥ 7 | ¥ 32 | ¥ 19 |
ORIX Corporation Shareholders_3
ORIX Corporation Shareholders' Equity (Information about Dividend Payments and Applicable Dividends) (Detail) - JPY (¥) ¥ / shares in Units, ¥ in Millions | 9 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Dividends Payable [Line Items] | ||
Resolution | The board of directors on May 21, 2018 and May 22, 2019 | |
Type of shares | Common stock | |
Total dividends paid | ¥ 58,962 | ¥ 49,984 |
Dividend per share | ¥ 46 | ¥ 39 |
Date of record for dividend | Mar. 31, 2019 | Mar. 31, 2018 |
Effective date for dividend | Jun. 3, 2019 | Jun. 5, 2018 |
Dividend resource | Retained earnings | |
Effective Date [Member] | ||
Dividends Payable [Line Items] | ||
Resolution | The board of directors on October 26, 2018 and October 28, 2019 | |
Type of shares | Common stock | |
Total dividends paid | ¥ 44,862 | ¥ 38,453 |
Dividend per share | ¥ 35 | ¥ 30 |
Date of record for dividend | Sep. 30, 2019 | Sep. 30, 2018 |
Effective date for dividend | Dec. 3, 2019 | Dec. 4, 2018 |
ORIX Corporation Shareholders_4
ORIX Corporation Shareholders' Equity - Additional Information (Detail) - JPY (¥) ¥ in Millions | 9 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Class of Stock [Line Items] | ||
Total dividends paid | ¥ 58,962 | ¥ 49,984 |
Officer's Compensation Board Incentive Plan | ||
Class of Stock [Line Items] | ||
Total dividends paid | 83 | 64 |
Effective Date [Member] | Officer's Compensation Board Incentive Plan | ||
Class of Stock [Line Items] | ||
Total dividends paid | ¥ 62 | ¥ 55 |
Selling, General and Administ_3
Selling, General and Administrative Expenses (Summary of Selling, General and Administrative Expenses) (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | |
Selling, General and Administrative Expense [Abstract] | ||||
Personnel expenses | ¥ 66,736 | ¥ 61,434 | ¥ 192,526 | ¥ 183,872 |
Selling expenses | 18,578 | 20,009 | 53,759 | 56,892 |
Administrative expenses | 29,361 | 26,674 | 86,033 | 75,783 |
Depreciation of office facilities | 1,888 | 1,321 | 5,436 | 3,537 |
Total | ¥ 116,563 | ¥ 109,438 | ¥ 337,754 | ¥ 320,084 |
Pension Plans (Net Pension Cost
Pension Plans (Net Pension Cost of Defined Benefit Plans) (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | |
Japan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | ¥ 1,507 | ¥ 1,382 | ¥ 4,384 | ¥ 4,144 |
Interest cost | 151 | 181 | 438 | 542 |
Expected return on plan assets | (713) | (680) | (2,083) | (2,042) |
Amortization of prior service credit | (210) | (225) | (615) | (673) |
Amortization of net actuarial loss | 288 | 211 | 865 | 633 |
Amortization of transition obligation | 0 | 0 | 0 | 0 |
Net periodic pension cost | 1,023 | 869 | 2,989 | 2,604 |
Overseas plans | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 883 | 802 | 2,649 | 2,433 |
Interest cost | 426 | 491 | 1,275 | 1,484 |
Expected return on plan assets | (1,101) | (1,090) | (3,242) | (3,292) |
Amortization of prior service credit | (39) | (44) | (115) | (134) |
Amortization of net actuarial loss | 113 | 20 | 368 | 59 |
Amortization of transition obligation | 0 | 1 | 2 | 3 |
Net periodic pension cost | ¥ 282 | ¥ 180 | ¥ 937 | ¥ 553 |
Life Insurance Operations (Life
Life Insurance Operations (Life Insurance Premiums and Related Investment Income) (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | ||||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | |||||
Net Investment Income [Line Items] | ||||||||
Total revenue | ¥ 289,145 | ¥ 325,457 | ¥ 866,201 | ¥ 1,052,813 | ||||
Life insurance premiums | ||||||||
Net Investment Income [Line Items] | ||||||||
Total revenue | 87,421 | 79,623 | 254,683 | 233,134 | ||||
Life insurance related investment income(loss) | ||||||||
Net Investment Income [Line Items] | ||||||||
Total revenue | 20,767 | [1] | (32,207) | [1] | 35,973 | [2] | (5,114) | [2] |
Life Insurance Premiums And Related Investment Income | ||||||||
Net Investment Income [Line Items] | ||||||||
Total revenue | ¥ 108,188 | ¥ 47,416 | ¥ 290,656 | ¥ 228,020 | ||||
[1] | Life insurance related investment income for the three months ended December 31, 2018 and 2019 include a net unrealized holding loss of ¥43,010 million and a net unrealized holding gain of ¥0 million on equity securities held as of December 31, 2018 and 2019, respectively. | |||||||
[2] | Life insurance related investment income for the nine months ended December 31, 2018 and 2019 include a net unrealized holding loss of ¥23,189 million and a net unrealized holding gain of ¥0 million on equity securities held as of December 31, 2018 and 2019, respectively. |
Life Insurance Operations - Add
Life Insurance Operations - Additional Information (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | |
Net Investment Income [Line Items] | ||||
Amortization of policy acquisition costs charged to income | ¥ 4,707 | ¥ 4,580 | ¥ 13,839 | ¥ 13,238 |
Life insurance related investment income(loss) | ||||
Net Investment Income [Line Items] | ||||
Net unrealized holding losses on equity securities | ¥ 43,010 | ¥ 23,189 | ||
Net unrealised holding gains on equity securitites | ¥ 18,043 | ¥ 24,609 |
Life Insurance Operations (Rein
Life Insurance Operations (Reinsurance Benefits and Reinsurance Premiums Included in Life Insurance Premiums) (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | |
Policyholders Account In Life Insurance Business [Abstract] | ||||
Reinsurance benefits | ¥ 774 | ¥ 698 | ¥ 1,949 | ¥ 1,891 |
Reinsurance premiums | ¥ (1,282) | ¥ (1,293) | ¥ (3,933) | ¥ (4,142) |
Life Insurance Operations (Gain
Life Insurance Operations (Gains or Losses Relating to Variable Annuity and Variable Life Insurance Contracts) (Detail) - Variable Annuity and Variable Life Insurance Contracts - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | |
Life insurance premiums and related investment income | ||||
Net realized and unrealized gains or losses from investment assets | ¥ 18,661 | ¥ (43,844) | ¥ 25,962 | ¥ (21,790) |
Net gains or losses from derivative contracts | (2,653) | 5,956 | (3,477) | 2,496 |
Life insurance costs | ||||
Changes in the fair value of the policy liabilities and policy account balances | (3,917) | (43,098) | (26,992) | (81,515) |
Insurance costs recognized for insurance and annuity payouts as a result of insured events | 14,304 | 14,851 | 39,418 | 62,522 |
Changes in the fair value of the reinsurance contracts | 2,163 | (6,681) | 3,230 | (2,794) |
Foreign exchange contracts | ||||
Life insurance premiums and related investment income | ||||
Net gains or losses from derivative contracts | (284) | 219 | (5) | (316) |
Futures | ||||
Life insurance premiums and related investment income | ||||
Net gains or losses from derivative contracts | (2,284) | 5,051 | (3,292) | 2,730 |
Options held | ||||
Life insurance premiums and related investment income | ||||
Net gains or losses from derivative contracts | ¥ (85) | ¥ 686 | ¥ (180) | ¥ 82 |
Write-Downs of Long-Lived Ass_3
Write-Downs of Long-Lived Assets (Long-Lived Assets Classified as Held for Sale) (Detail) - Discontinued Operations, Held-for-sale - Real estate properties and transportation equipment - JPY (¥) ¥ in Millions | Dec. 31, 2019 | Mar. 31, 2019 |
Long Lived Assets Held-for-sale [Line Items] | ||
Investment in operating leases | ¥ 37,875 | ¥ 24,956 |
Property under facility operations | 0 | 44,473 |
Other assets | ¥ 812 | ¥ 19 |
Write-Downs of Long-Lived Ass_4
Write-Downs of Long-Lived Assets - Additional Information (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | |
Property, Plant and Equipment [Abstract] | ||||
Write-downs of long-lived assets | ¥ 518 | ¥ 0 | ¥ 554 | ¥ 26 |
Real Estate | ||||
Property, Plant and Equipment [Abstract] | ||||
Write-downs of long-lived assets | 20 | 16 | ||
Overseas Business Segment | ||||
Property, Plant and Equipment [Abstract] | ||||
Write-downs of long-lived assets | ¥ 518 | ¥ 534 | ¥ 10 |
Write-Downs of Long-Lived Ass_5
Write-Downs of Long-Lived Assets (Breakdowns of Recognized Impairment Losses for Difference between Carrying Amounts and Fair Values Reflected as Write-Downs of Long-Lived Assets) (Detail) ¥ in Millions | 3 Months Ended | 9 Months Ended | ||||
Dec. 31, 2019JPY (¥)Property | Dec. 31, 2018JPY (¥)Property | Dec. 31, 2019JPY (¥)Property | Dec. 31, 2018JPY (¥)Property | |||
Impaired Long-Lived Assets Held and Used [Line Items] | ||||||
Write-downs due to decline estimated future cash flows, amount | ¥ 518 | ¥ 0 | ¥ 554 | ¥ 26 | ||
Write-downs due to decline estimated future cash flows, number of properties | Property | 1 | |||||
Commercial Facilities Other Than Office Buildings | ||||||
Impaired Long-Lived Assets Held and Used [Line Items] | ||||||
Write-downs due to decline estimated future cash flows, amount | ¥ 509 | ¥ 0 | ¥ 529 | ¥ 16 | ||
Write-downs due to decline estimated future cash flows, number of properties | Property | 0 | 2 | 1 | |||
Property, Plant and Equipment, Other Types | ||||||
Impaired Long-Lived Assets Held and Used [Line Items] | ||||||
Write-downs due to decline estimated future cash flows, amount | ¥ 9 | ¥ 0 | ¥ 25 | [1] | ¥ 10 | [1] |
[1] | For the “Others,” the number of properties is omitted. |
Per Share Data - Additional Inf
Per Share Data - Additional Information (Detail) - shares | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | |
Officer's Compensation Board Incentive Plan | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Number of shares held for incentive plans, to be deducted in calculation of the weighted-average shares for EPS computation | 1,796,993 | 1,823,993 | 1,813,193 | 1,715,210 |
Stock Options | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Antidilutive shares excluded from calculation of diluted EPS | 0 | 0 | 0 | 0 |
Per Share Data (Reconciliation
Per Share Data (Reconciliation of Differences between Basic and Diluted Earnings Per Share) (Detail) - JPY (¥) ¥ / shares in Units, ¥ in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | |
Earnings Per Share [Abstract] | ||||
Net Income attributable to ORIX Corporation shareholders | ¥ 85,169 | ¥ 81,157 | ¥ 244,319 | ¥ 236,207 |
Weighted-average shares | 1,278,048 | 1,279,962 | 1,279,196 | 1,280,038 |
Effect of dilutive securities | ||||
Stock compensation | 1,245 | 1,040 | 1,138 | 1,083 |
Weighted-average shares for diluted EPS computation | 1,279,293 | 1,281,002 | 1,280,334 | 1,281,121 |
Earnings per share for net income attributable to ORIX Corporation shareholders: | ||||
Basic | ¥ 66.64 | ¥ 63.41 | ¥ 190.99 | ¥ 184.53 |
Diluted | ¥ 66.58 | ¥ 63.35 | ¥ 190.82 | ¥ 184.38 |
Derivative Financial Instrume_3
Derivative Financial Instruments and Hedging (Effect of Derivative Instruments on Consolidated Statements of Income, Pre-tax) (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | ||||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | |||||
Derivatives designated as hedging instruments | Cash flow hedges | Interest rate swap agreements | ||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
Gains (losses) recognized in other comprehensive income on derivative | ¥ 2,481 | ¥ (4,610) | ||||||
Gains (losses) recognized in other comprehensive income on derivative, (effective portion) | ¥ (2,252) | ¥ (1,529) | ||||||
Gains (losses) recognized in income on derivative (ineffective portion and amount excluded from effectiveness testing) | 0 | 0 | ||||||
Derivatives designated as hedging instruments | Cash flow hedges | Interest rate swap agreements | Finance revenues/Interest expense | ||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
Gains (losses) reclassified from other comprehensive income (loss) into income, (effective portion) | 4 | 141 | ||||||
Derivatives designated as hedging instruments | Cash flow hedges | Interest rate swap agreements | Other (income) and expense, net | ||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
Gains (losses) reclassified from other comprehensive income (loss) into income | 0 | 0 | ||||||
Derivatives designated as hedging instruments | Cash flow hedges | Interest rate swap agreements | Interest Expense [Member] | ||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
Gains (losses) reclassified from other comprehensive income (loss) into income | 218 | 584 | ||||||
Derivatives designated as hedging instruments | Cash flow hedges | Foreign exchange contracts | ||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
Gains (losses) recognized in other comprehensive income on derivative | (255) | (369) | ||||||
Gains (losses) recognized in other comprehensive income on derivative, (effective portion) | 9 | 252 | ||||||
Gains (losses) recognized in income on derivative (ineffective portion and amount excluded from effectiveness testing) | 0 | 0 | ||||||
Derivatives designated as hedging instruments | Cash flow hedges | Foreign exchange contracts | Other (income) and expense, net | ||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
Gains (losses) reclassified from other comprehensive income (loss) into income | 0 | 0 | ||||||
Gains (losses) reclassified from other comprehensive income (loss) into income, (effective portion) | (230) | (220) | ||||||
Derivatives designated as hedging instruments | Cash flow hedges | Foreign exchange contracts | Interest Expense [Member] | ||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
Gains (losses) reclassified from other comprehensive income (loss) into income | 107 | 255 | ||||||
Derivatives designated as hedging instruments | Cash flow hedges | Foreign currency swap agreements | ||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
Gains (losses) recognized in other comprehensive income on derivative | 235 | (461) | ||||||
Gains (losses) recognized in other comprehensive income on derivative, (effective portion) | 1,544 | 577 | ||||||
Gains (losses) recognized in income on derivative (ineffective portion and amount excluded from effectiveness testing) | 0 | |||||||
Derivatives designated as hedging instruments | Cash flow hedges | Foreign currency swap agreements | Other (income) and expense, net | ||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
Gains (losses) reclassified from other comprehensive income (loss) into income | 100 | 108 | ||||||
Gains (losses) recognized in income on derivative (ineffective portion and amount excluded from effectiveness testing) | 0 | |||||||
Derivatives designated as hedging instruments | Cash flow hedges | Foreign currency swap agreements | Finance revenues/Interest expense/Other (income) and expense, net | ||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
Gains (losses) reclassified from other comprehensive income (loss) into income, (effective portion) | 579 | (515) | ||||||
Derivatives designated as hedging instruments | Cash flow hedges | Foreign currency swap agreements | Interest Expense [Member] | ||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
Gains (losses) reclassified from other comprehensive income (loss) into income | (25) | 260 | ||||||
Derivatives designated as hedging instruments | Fair value hedges | Interest rate swap agreements | ||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
Gains (losses) recognized in income on derivative | (5,781) | (4,553) | ||||||
Gains (losses) recognized in income on hedged item | 5,781 | 4,553 | ||||||
Derivatives designated as hedging instruments | Fair value hedges | Interest rate swap agreements | Other (income) and expense, net | ||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
Gains (losses) recognized in income on derivative | 0 | 0 | ||||||
Gains (losses) recognized in income on hedged item | 0 | 0 | ||||||
Derivatives designated as hedging instruments | Fair value hedges | Interest rate swap agreements | Other Income (Expense), Net and Life Insurance Premiums and Related Investment Income (Loss) | ||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
Gains (losses) recognized in income on derivative | 3,346 | (5,794) | ||||||
Gains (losses) recognized in income on hedged item | (3,299) | 5,431 | ||||||
Derivatives designated as hedging instruments | Fair value hedges | Foreign exchange contracts | Other (income) and expense, net | ||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
Gains (losses) recognized in income on derivative | 127 | 830 | 153 | (3,834) | ||||
Gains (losses) recognized in income on hedged item | (98) | (953) | (128) | 3,711 | ||||
Derivatives designated as hedging instruments | Fair value hedges | Foreign exchange contracts | Other Income (Expense), Net and Life Insurance Premiums and Related Investment Income (Loss) | ||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
Gains (losses) recognized in income on derivative | (934) | 1,172 | ||||||
Gains (losses) recognized in income on hedged item | 1,370 | (910) | ||||||
Derivatives designated as hedging instruments | Hedges of net investment in foreign operations | Foreign exchange contracts | ||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
Gains (losses) recognized in other comprehensive income on derivative | (12,324) | 4,380 | ||||||
Gains (losses) recognized in other comprehensive income on derivative, (effective portion) | 4,234 | 2,500 | ||||||
Gains (losses) recognized in income on derivative (ineffective portion and amount excluded from effectiveness testing) | 0 | 0 | ||||||
Derivatives designated as hedging instruments | Hedges of net investment in foreign operations | Foreign exchange contracts | Other (income) and expense, net | ||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
Gains (losses) reclassified from other comprehensive income (loss) into income | 7 | 21 | ||||||
Derivatives designated as hedging instruments | Hedges of net investment in foreign operations | Foreign exchange contracts | Gains on sales of subsidiaries and affiliates and liquidation losses, net | ||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
Gains (losses) reclassified from other comprehensive income (loss) into income | 1,594 | 1,594 | ||||||
Gains (losses) reclassified from other comprehensive income (loss) into income, (effective portion) | 0 | (115) | ||||||
Derivatives designated as hedging instruments | Hedges of net investment in foreign operations | Foreign exchange contracts | Interest Expense [Member] | ||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
Gains (losses) reclassified from other comprehensive income (loss) into income | 1,194 | 3,448 | ||||||
Derivatives designated as hedging instruments | Hedges of net investment in foreign operations | Debt Loans and Bonds in Foreign Currencies [Member] | ||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
Gains (losses) recognized in other comprehensive income on derivative | (10,477) | 8,342 | ||||||
Gains (losses) recognized in other comprehensive income on derivative, (effective portion) | 14,711 | (7,377) | ||||||
Gains (losses) reclassified from other comprehensive income (loss) into income, (effective portion) | 0 | 0 | ||||||
Gains (losses) recognized in income on derivative (ineffective portion and amount excluded from effectiveness testing) | 0 | 0 | ||||||
Derivatives designated as hedging instruments | Hedges of net investment in foreign operations | Debt Loans and Bonds in Foreign Currencies [Member] | Other (income) and expense, net | ||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
Gains (losses) reclassified from other comprehensive income (loss) into income | 0 | 0 | ||||||
Derivatives designated as hedging instruments | Hedges of net investment in foreign operations | Debt Loans and Bonds in Foreign Currencies [Member] | Gains on sales of subsidiaries and affiliates and liquidation losses, net | ||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
Gains (losses) reclassified from other comprehensive income (loss) into income | 0 | 0 | ||||||
Derivatives designated as hedging instruments | Hedges of net investment in foreign operations | Debt Loans and Bonds in Foreign Currencies [Member] | Interest Expense [Member] | ||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
Gains (losses) reclassified from other comprehensive income (loss) into income | 0 | 0 | ||||||
Nondesignated | Other (income) and expense, net | Futures | ||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
Gains (losses) recognized in income on derivative | 1,760 | 2,367 | ||||||
Nondesignated | Gains on Investment Securities and Dividends and Life Insurance Premiums and Related Investment Income (Loss) | Futures | ||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
Gains (losses) recognized in income on derivative | 5,257 | [1] | 2,573 | [2] | ||||
Nondesignated | Other Income (Expense), Net and Life Insurance Premiums and Related Investment Income (Loss) | Futures | ||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
Gains (losses) recognized in income on derivative | (2,284) | [3] | (3,292) | [4] | ||||
Nondesignated | Interest Expense [Member] | Futures | ||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
Gains (losses) recognized in income on derivative | 0 | 0 | ||||||
Nondesignated | Interest rate swap agreements | Other (income) and expense, net | ||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
Gains (losses) recognized in income on derivative | (12) | (134) | 120 | 1,013 | ||||
Nondesignated | Interest rate swap agreements | Other Income (Expense), Net and Life Insurance Premiums and Related Investment Income (Loss) | ||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
Gains (losses) recognized in income on derivative | 0 | [3] | 0 | [4] | ||||
Nondesignated | Interest rate swap agreements | Interest Expense [Member] | ||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
Gains (losses) recognized in income on derivative | 2 | 5 | ||||||
Nondesignated | Foreign exchange contracts | Other (income) and expense, net | ||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
Gains (losses) recognized in income on derivative | 6,017 | 1,494 | ||||||
Nondesignated | Foreign exchange contracts | Gains on Investment Securities and Dividends and Life Insurance Premiums and Related Investment Income (Loss) and Other Income (Expense), Net | ||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
Gains (losses) recognized in income on derivative | 5,819 | [1] | (2,037) | [2] | ||||
Nondesignated | Foreign exchange contracts | Other Income (Expense), Net and Life Insurance Premiums and Related Investment Income (Loss) | ||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
Gains (losses) recognized in income on derivative | (337) | [3] | 177 | [4] | ||||
Nondesignated | Foreign exchange contracts | Interest Expense [Member] | ||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
Gains (losses) recognized in income on derivative | 1,119 | 3,635 | ||||||
Nondesignated | Credit derivatives held/written | Other (income) and expense, net | ||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
Gains (losses) recognized in income on derivative | 10 | 40 | (6) | 59 | ||||
Nondesignated | Credit derivatives held/written | Other Income (Expense), Net and Life Insurance Premiums and Related Investment Income (Loss) | ||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
Gains (losses) recognized in income on derivative | 0 | [3] | 0 | [4] | ||||
Nondesignated | Credit derivatives held/written | Interest Expense [Member] | ||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
Gains (losses) recognized in income on derivative | 0 | 0 | ||||||
Nondesignated | Options held/written and other | Other (income) and expense, net | ||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
Gains (losses) recognized in income on derivative | 1,328 | 1,202 | ||||||
Nondesignated | Options held/written and other | Other Income (Expense), Net and Life Insurance Premiums and Related Investment Income (Loss) | ||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
Gains (losses) recognized in income on derivative | (85) | [3] | ¥ (1,350) | [1] | (180) | [4] | ¥ (1,077) | [2] |
Nondesignated | Options held/written and other | Interest Expense [Member] | ||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
Gains (losses) recognized in income on derivative | ¥ 0 | ¥ 0 | ||||||
[1] | Futures, foreign exchange contracts and options held/written and other in the above table include gains (losses) arising from futures, foreign exchange contracts and options held to economically hedge the minimum guarantee risk of variable annuity and variable life insurance contracts for the three months ended December 31, 2018 (see Note 17 “Life Insurance Operations”). | |||||||
[2] | Futures, foreign exchange contracts and options held/written and other in the above table include losses arising from futures, foreign exchange contracts and options held to economically hedge the minimum guarantee risk of variable annuity and variable life insurance contracts for the nine months ended December 31, 2018 (see Note 17 “Life Insurance Operations”). | |||||||
[3] | Futures, foreign exchange contracts and options held/written and other in the above table include gains (losses) arising from futures, foreign exchange contracts and options held to economically hedge the minimum guarantee risk of variable annuity and variable life insurance contracts for the three months ended December 31, 2019 (see Note 17 “Life Insurance Operations”). | |||||||
[4] | Futures, foreign exchange contracts and options held/written and other in the above table include gains (losses) arising from futures, foreign exchange contracts and options held to economically hedge the minimum guarantee risk of variable annuity and variable life insurance contracts for the nine months ended December 31, 2019 (see Note 17 “Life Insurance Operations”). |
Derivative Financial Instrume_4
Derivative Financial Instruments and Hedging (Notional Amounts of Derivative Instruments and Other, Fair Values of Derivative Instruments and Other before Offsetting) (Detail) - JPY (¥) ¥ in Millions | Dec. 31, 2019 | Mar. 31, 2019 | ||
Derivatives, Fair Value [Line Items] | ||||
Derivative assets, Fair value | ¥ 15,683 | ¥ 15,495 | ||
Derivative liabilities, Fair value | 51,188 | 25,958 | ||
Interest rate swap agreements | Derivatives designated as hedging instruments | ||||
Derivatives, Fair Value [Line Items] | ||||
Notional amount | 504,636 | 498,874 | ||
Interest rate swap agreements | Derivatives designated as hedging instruments | Other assets | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative assets, Fair value | 158 | 11 | ||
Interest rate swap agreements | Derivatives designated as hedging instruments | Other liabilities | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative liabilities, Fair value | 24,703 | 17,320 | ||
Interest rate swap agreements | Nondesignated | ||||
Derivatives, Fair Value [Line Items] | ||||
Notional amount | 7,183 | 60,657 | ||
Interest rate swap agreements | Nondesignated | Other assets | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative assets, Fair value | 9 | 127 | ||
Interest rate swap agreements | Nondesignated | Other liabilities | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative liabilities, Fair value | 65 | 119 | ||
Futures, foreign exchange contracts | Derivatives designated as hedging instruments | ||||
Derivatives, Fair Value [Line Items] | ||||
Notional amount | 509,650 | 505,909 | ||
Futures, foreign exchange contracts | Derivatives designated as hedging instruments | Other assets | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative assets, Fair value | 25 | 1,888 | ||
Futures, foreign exchange contracts | Derivatives designated as hedging instruments | Other liabilities | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative liabilities, Fair value | 9,753 | 3,177 | ||
Futures, foreign exchange contracts | Nondesignated | ||||
Derivatives, Fair Value [Line Items] | ||||
Notional amount | 323,990 | [1] | 320,710 | [2] |
Futures, foreign exchange contracts | Nondesignated | Other assets | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative assets, Fair value | 378 | [1] | 1,119 | [2] |
Futures, foreign exchange contracts | Nondesignated | Other liabilities | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative liabilities, Fair value | 4,742 | [1] | 2,159 | [2] |
Foreign currency swap agreements | Derivatives designated as hedging instruments | ||||
Derivatives, Fair Value [Line Items] | ||||
Notional amount | 66,422 | 65,575 | ||
Foreign currency swap agreements | Derivatives designated as hedging instruments | Other assets | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative assets, Fair value | 1,421 | 1,203 | ||
Foreign currency swap agreements | Derivatives designated as hedging instruments | Other liabilities | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative liabilities, Fair value | 965 | 364 | ||
Foreign currency long- term-debt | Derivatives designated as hedging instruments | ||||
Derivatives, Fair Value [Line Items] | ||||
Notional amount | 618,412 | 641,127 | ||
Foreign currency long- term-debt | Derivatives designated as hedging instruments | Other assets | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative assets, Fair value | 0 | 0 | ||
Foreign currency long- term-debt | Derivatives designated as hedging instruments | Other liabilities | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative liabilities, Fair value | 0 | 0 | ||
Options held/written and other | Derivatives designated as hedging instruments | ||||
Derivatives, Fair Value [Line Items] | ||||
Notional amount | 949 | |||
Options held/written and other | Derivatives designated as hedging instruments | Other assets | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative assets, Fair value | 5 | |||
Options held/written and other | Derivatives designated as hedging instruments | Other liabilities | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative liabilities, Fair value | 0 | |||
Options held/written and other | Nondesignated | ||||
Derivatives, Fair Value [Line Items] | ||||
Notional amount | 490,428 | [1] | 556,668 | [2] |
Options held/written and other | Nondesignated | Other assets | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative assets, Fair value | 13,687 | [1] | 11,140 | [2] |
Options held/written and other | Nondesignated | Other liabilities | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative liabilities, Fair value | ¥ 10,960 | [1] | 2,809 | [2] |
Credit derivatives held/written | Nondesignated | ||||
Derivatives, Fair Value [Line Items] | ||||
Notional amount | 262 | |||
Credit derivatives held/written | Nondesignated | Other assets | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative assets, Fair value | 7 | |||
Credit derivatives held/written | Nondesignated | Other liabilities | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative liabilities, Fair value | ¥ 10 | |||
[1] | The notional amounts of options held/written and other and futures, foreign exchange contracts in the above table include options held of ¥0 million, futures contracts of ¥0 million and foreign exchange contracts of ¥0 million to economically hedge the minimum guarantee risk of variable annuity and variable life insurance contracts at December 31, 2019, respectively. Derivative assets in the above table include fair value of the options held, futures contracts and foreign exchange contracts before offsetting of ¥0 million, ¥0 million and ¥0 million and derivative liabilities include fair value of the options written, the futures and foreign exchange contracts before offsetting of ¥0 million, ¥0 million and ¥0 million at December 31, 2019, respectively. | |||
[2] | The notional amounts of options held/written and other and futures, foreign exchange contracts in the above table include options held of ¥34,701 million, futures contracts of ¥37,359 million and foreign exchange contracts of ¥13,171 million to economically hedge the minimum guarantee risk of variable annuity and variable life insurance contracts at March 31, 2019, respectively. Derivative assets in the above table include fair value of the options held, futures contracts and foreign exchange contracts before offsetting of ¥206 million, ¥248 million and ¥30 million and derivative liabilities include fair value of the futures and foreign exchange contracts before offsetting of ¥258 million and ¥173 million at March 31, 2019, respectively. |
Derivative Financial Instrume_5
Derivative Financial Instruments and Hedging (Notional Amounts of Derivative Instruments and Other, Fair Values of Derivative Instruments and Other before Offsetting) (Parenthetical) (Detail) - JPY (¥) ¥ in Millions | Dec. 31, 2019 | Mar. 31, 2019 |
Derivatives, Fair Value [Line Items] | ||
Derivative assets Fair value | ¥ 15,683 | ¥ 15,495 |
Derivative liabilities Fair value | 51,188 | 25,958 |
Options held | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets Fair value | 16 | 206 |
Derivative liabilities Fair value | 114 | |
Options held | Variable Annuity and Variable Life Insurance Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 25,225 | 34,701 |
Futures | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets Fair value | 0 | 248 |
Derivative liabilities Fair value | 43 | 258 |
Futures | Variable Annuity and Variable Life Insurance Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 30,042 | 37,359 |
Foreign exchange contracts | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets Fair value | 6 | 30 |
Derivative liabilities Fair value | 34 | 173 |
Foreign exchange contracts | Variable Annuity and Variable Life Insurance Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | ¥ 9,716 | ¥ 13,171 |
Derivative Financial Instrume_6
Derivative Financial Instruments and Hedging (Derivative instruments and hedging activitites excluded component for determining hedge effectiveness) (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended |
Dec. 31, 2019 | Dec. 31, 2019 | |
Other Income (Expense), Net and Life Insurance Premiums and Related Investment Income (Loss) [Member] | Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member] | ||
Gains (losses) reclassified from other comprehensive income (loss) into income | ¥ (904) | ¥ (1,324) |
Derivative Financial Instrume_7
Derivative Financial Instruments and Hedging (Derivative instruments fair value hedge assets and liabilities) (Detail) ¥ in Millions | Dec. 31, 2019JPY (¥) | [1] |
Carrying amount | ¥ 318,697 | |
The cumulative amount of fair value hedging adjustments included in the carrying amount | 13,213 | |
Carrying amount | 0 | |
The cumulative amount of fair value hedging adjustments included in the carrying amount | ¥ 0 | |
[1] | Accumulated fair value hedge adjustments of ¥(1,923) million are included for hedged items for which hedge accounting has been discontinued. |
Derivative Financial Instrume_8
Derivative Financial Instruments and Hedging (Derivative instruments fair value hedge assets and liabilities) (Parenthetical) (Detail) ¥ in Millions | Dec. 31, 2019JPY (¥) |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Accumulated fair value hedge adjustments assets | ¥ 1,921 |
Offsetting Assets and Liabili_3
Offsetting Assets and Liabilities (Gross Amounts Recognized, Gross Amounts Offset, and Net Amounts Presented in Consolidated Balance Sheets Regarding to Derivative Assets and Liabilities and Other Assets and Liabilities) (Detail) - JPY (¥) ¥ in Millions | Dec. 31, 2019 | Mar. 31, 2019 | |
Offsetting Asset and Liabilities [Line Items] | |||
Gross amounts recognized, assets | ¥ 15,683 | ¥ 15,495 | |
Gross amounts offset in the consolidated balance sheets, assets | (514) | (1,497) | |
Net amounts presented in the consolidated balance sheets, assets | 15,169 | 13,998 | |
Gross amounts not offset in the consolidated balance sheets, financial instruments, assets | [1] | (16) | (196) |
Gross amounts not offset in the consolidated balance sheets, collateral, assets | [1] | 0 | 0 |
Net amount, assets | 15,153 | 13,802 | |
Gross amounts recognized, liabilities | 51,188 | 25,958 | |
Gross amounts offset in the consolidated balance sheets, liabilities | (514) | (1,497) | |
Net amounts presented in the consolidated balance sheets, liabilities | 50,674 | 24,461 | |
Gross amounts not offset in the consolidated balance sheets, financial instruments, liabilities | [1] | (14,143) | (8,353) |
Gross amounts not offset in the consolidated balance sheets, collateral, liabilities | [1] | (1,313) | (79) |
Net amount, liabilities | 35,218 | 16,029 | |
Derivative liabilities | |||
Offsetting Asset and Liabilities [Line Items] | |||
Gross amounts recognized, liabilities | 51,188 | 25,958 | |
Gross amounts offset in the consolidated balance sheets, liabilities | (514) | (1,497) | |
Net amounts presented in the consolidated balance sheets, liabilities | 50,674 | 24,461 | |
Gross amounts not offset in the consolidated balance sheets, financial instruments, liabilities | [1] | (14,143) | (8,353) |
Gross amounts not offset in the consolidated balance sheets, collateral, liabilities | [1] | (1,313) | (79) |
Net amount, liabilities | 35,218 | 16,029 | |
Derivative assets | |||
Offsetting Asset and Liabilities [Line Items] | |||
Gross amounts recognized, assets | 15,683 | 15,495 | |
Gross amounts offset in the consolidated balance sheets, assets | (514) | (1,497) | |
Net amounts presented in the consolidated balance sheets, assets | 15,169 | 13,998 | |
Gross amounts not offset in the consolidated balance sheets, financial instruments, assets | [1] | (16) | (196) |
Gross amounts not offset in the consolidated balance sheets, collateral, assets | [1] | 0 | 0 |
Net amount, assets | ¥ 15,153 | ¥ 13,802 | |
[1] | The balances related to enforceable master netting agreements or similar agreements which were not offset in the consolidated balance sheets. |
Estimated Fair Value of Finan_3
Estimated Fair Value of Financial Instruments (Information about Carrying Amount of Financial Instruments Reported in Consolidated Balance Sheets and Related Market or Fair Value) (Detail) - JPY (¥) ¥ in Millions | Dec. 31, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | |||
Assets: | ||||||
Cash and cash equivalents | ¥ 902,312 | ¥ 1,161,032 | ¥ 1,215,907 | |||
Restricted Cash | 118,297 | 122,548 | ¥ 119,292 | |||
Equity securities | [1] | 537,004 | 549,047 | |||
Trading debt securities | 1,371 | 1,564 | ||||
Available-for-sale debt securities | 1,576,349 | 1,264,244 | ||||
Held-to-maturity debt securities | 113,880 | 114,061 | ||||
Other Assets: | ||||||
Derivative assets | 15,169 | 13,998 | ||||
Liabilities: | ||||||
Short-Term Debt | 384,132 | 309,549 | ||||
Deposits | 2,169,106 | 1,927,741 | ||||
Long-term Debt | 4,119,179 | 4,186,222 | ||||
Other Liabilities: | ||||||
Derivative liabilities | 50,674 | 24,461 | ||||
Level 1 | ||||||
Assets: | ||||||
Cash and cash equivalents | 902,312 | 1,161,032 | ||||
Restricted Cash | 118,297 | 122,548 | ||||
Installment loans (net of allowance for probable loan losses) | 0 | 0 | ||||
Equity securities | 73,334 | [2] | 68,631 | [3] | ||
Trading debt securities | 0 | 0 | ||||
Available-for-sale debt securities | 22,381 | 24,831 | ||||
Held-to-maturity debt securities | 0 | 0 | ||||
Other Assets: | ||||||
Time deposits | 0 | 0 | ||||
Derivative assets | [4] | 0 | 0 | |||
Reinsurance recoverables (Investment contracts) | 0 | 0 | ||||
Liabilities: | ||||||
Short-Term Debt | 0 | 0 | ||||
Deposits | 0 | 0 | ||||
Policy liabilities and Policy account balances (Investment contracts) | 0 | 0 | ||||
Long-term Debt | 0 | 0 | ||||
Other Liabilities: | ||||||
Derivative liabilities | [4] | 0 | 0 | |||
Level 2 | ||||||
Assets: | ||||||
Cash and cash equivalents | 0 | 0 | ||||
Restricted Cash | 0 | 0 | ||||
Installment loans (net of allowance for probable loan losses) | 212,528 | 199,590 | ||||
Equity securities | 277,917 | [2] | 295,769 | [3] | ||
Trading debt securities | 1,371 | 1,564 | ||||
Available-for-sale debt securities | 1,453,002 | 1,138,966 | ||||
Held-to-maturity debt securities | 120,150 | 120,714 | ||||
Other Assets: | ||||||
Time deposits | 4,250 | 4,754 | ||||
Derivative assets | [4] | 0 | 0 | |||
Reinsurance recoverables (Investment contracts) | 0 | 0 | ||||
Liabilities: | ||||||
Short-Term Debt | 384,132 | 309,549 | ||||
Deposits | 2,053,439 | 1,782,753 | ||||
Policy liabilities and Policy account balances (Investment contracts) | 0 | 0 | ||||
Long-term Debt | 1,105,707 | 1,158,287 | ||||
Other Liabilities: | ||||||
Derivative liabilities | [4] | 0 | 0 | |||
Level 3 | ||||||
Assets: | ||||||
Cash and cash equivalents | 0 | 0 | ||||
Restricted Cash | 0 | 0 | ||||
Installment loans (net of allowance for probable loan losses) | 3,362,914 | 3,029,160 | ||||
Equity securities | 66,182 | [2] | 61,193 | [3] | ||
Trading debt securities | 0 | 0 | ||||
Available-for-sale debt securities | 100,966 | 100,447 | ||||
Held-to-maturity debt securities | 24,372 | 23,612 | ||||
Other Assets: | ||||||
Time deposits | 0 | 0 | ||||
Derivative assets | [4] | 0 | 0 | |||
Reinsurance recoverables (Investment contracts) | 9,272 | 30,400 | ||||
Liabilities: | ||||||
Short-Term Debt | 0 | 0 | ||||
Deposits | 0 | 0 | ||||
Policy liabilities and Policy account balances (Investment contracts) | 217,734 | 244,653 | ||||
Long-term Debt | 3,038,304 | 3,041,054 | ||||
Other Liabilities: | ||||||
Derivative liabilities | [4] | 0 | 0 | |||
Carrying amount | ||||||
Assets: | ||||||
Cash and cash equivalents | 902,312 | 1,161,032 | ||||
Restricted Cash | 118,297 | 122,548 | ||||
Installment loans (net of allowance for probable loan losses) | 3,571,075 | 3,231,708 | ||||
Equity securities | 417,433 | [2] | 425,593 | [3] | ||
Trading debt securities | 1,371 | 1,564 | ||||
Available-for-sale debt securities | 1,576,349 | 1,264,244 | ||||
Held-to-maturity debt securities | 113,880 | 114,061 | ||||
Other Assets: | ||||||
Time deposits | 4,250 | 4,754 | ||||
Derivative assets | [4] | 15,169 | 13,998 | |||
Reinsurance recoverables (Investment contracts) | 9,019 | 29,989 | ||||
Liabilities: | ||||||
Short-Term Debt | 384,132 | 309,549 | ||||
Deposits | 2,053,762 | 1,782,198 | ||||
Policy liabilities and Policy account balances (Investment contracts) | 217,610 | 244,497 | ||||
Long-term Debt | 4,119,179 | 4,186,222 | ||||
Other Liabilities: | ||||||
Derivative liabilities | [4] | 50,674 | 24,461 | |||
Estimated fair value | ||||||
Assets: | ||||||
Cash and cash equivalents | 902,312 | 1,161,032 | ||||
Restricted Cash | 118,297 | 122,548 | ||||
Installment loans (net of allowance for probable loan losses) | 3,575,442 | 3,228,750 | ||||
Equity securities | 417,433 | [2] | 425,593 | [3] | ||
Trading debt securities | 1,371 | 1,564 | ||||
Available-for-sale debt securities | 1,576,349 | 1,264,244 | ||||
Held-to-maturity debt securities | 144,522 | 144,326 | ||||
Other Assets: | ||||||
Time deposits | 4,250 | 4,754 | ||||
Derivative assets | [4] | 15,169 | 13,998 | |||
Reinsurance recoverables (Investment contracts) | 9,272 | 30,400 | ||||
Liabilities: | ||||||
Short-Term Debt | 384,132 | 309,549 | ||||
Deposits | 2,053,439 | 1,782,753 | ||||
Policy liabilities and Policy account balances (Investment contracts) | 217,734 | 244,653 | ||||
Long-term Debt | 4,144,011 | 4,199,341 | ||||
Other Liabilities: | ||||||
Derivative liabilities | [4] | ¥ 50,674 | ¥ 24,461 | |||
[1] | The amount of assets under management of variable annuity and variable life insurance contracts included in equity securities were ¥324,220 million and ¥0 million as of March 31, 2019 and December 31, 2019, respectively. The amount of investment funds that are accounted for under the equity method included in equity securities were ¥75,923 million and ¥0 million as of March 31, 2019 and December 31, 2019, respectively. The amount of investment funds elected for the fair value option included in equity securities were ¥5,811 million and ¥0 million as of March 31, 2019 and December 31, 2019, respectively. | |||||
[2] | The amount of ¥11,878 million of investment funds measured at net asset value per share is not included. | |||||
[3] | The amount of ¥12,100 million of investment funds measured at net asset value per share is not included. | |||||
[4] | It represents the amount after offset under counterparty netting of derivative assets and liabilities. For the information of input level before netting, see Note 3 “Fair Value Measurements.” |
Estimated Fair Value of Finan_4
Estimated Fair Value of Financial Instruments (Information about Carrying Amount of Financial Instruments Reported in Consolidated Balance Sheets and Related Market or Fair Value) (Parenthetical) (Detail) - Estimated fair value - Investment in securities - JPY (¥) ¥ in Millions | Dec. 31, 2019 | Mar. 31, 2019 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Not practicable to estimate fair value | ¥ 11,878 | |
Investment funds | ¥ 12,100 |
Commitments, Guarantees, and Co
Commitments, Guarantees, and Contingent Liabilities - Additional Information (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2019 | |
Commitments and Contingencies Disclosure [Line Items] | |||||
Commitments for purchase of equipment to be leased at cost | ¥ 30 | ¥ 210 | |||
Cancelable fixed term maximum lease commitment due, through 2024 | 57,388 | ||||
Cancelable fixed term maximum lease commitment due, thereafter | 64,222 | ||||
Rental payments made under cancelable operating lease agreements | 17,564 | ||||
Payments for computer systems under non-cancelable contracts | ¥ 1,787 | ¥ 1,673 | 5,301 | ¥ 4,266 | |
Estimated construction costs | 81,982 | 81,982 | 121,647 | ||
Total unused credit and capital amount available | 398,065 | 398,065 | 375,238 | ||
Guarantee Obligations Maximum Exposure | 1,047,216 | 1,047,216 | 1,059,899 | ||
Guarantee Obligations Current Carrying Value | 54,373 | 54,373 | 55,245 | ||
Outstanding principal amount of loans transferred under Delegated Underwriting and Servicing program | 620,718 | 620,718 | 593,062 | ||
Investment in securities pledged for primarily collateral deposits | 80,267 | 80,267 | 33,280 | ||
Secured debt | 56,320 | 56,320 | 49,125 | ||
Investments In Subsidaries Pledged | 10,794 | 10,794 | |||
Secured By Share | |||||
Commitments and Contingencies Disclosure [Line Items] | |||||
Secured debt | 51,308 | 51,308 | 46,029 | ||
Corporate Loans | |||||
Commitments and Contingencies Disclosure [Line Items] | |||||
Guarantee Obligations Maximum Exposure | 498,541 | 498,541 | 500,499 | ||
Guarantee Obligations Current Carrying Value | 6,045 | 6,045 | 6,707 | ||
Performance Guarantee | Corporate Loans | |||||
Commitments and Contingencies Disclosure [Line Items] | |||||
Guarantee Obligations Maximum Exposure | 1,099,000 | 1,099,000 | 1,089,000 | ||
Guarantee Obligations Current Carrying Value | ¥ 2,518 | ¥ 2,518 | ¥ 2,559 |
Commitments, Guarantees and C_3
Commitments, Guarantees and Contingent Liabilities - Minimum Future Rentals on Non-Cancelable Operating Leases (Detail) ¥ in Millions | Mar. 31, 2019JPY (¥) |
Commitments and Contingencies Disclosure [Abstract] | |
2020 | ¥ 7,694 |
2021 | 6,647 |
2022 | 5,923 |
2023 | 5,434 |
2024 | 4,802 |
Thereafter | 34,485 |
Total | ¥ 64,985 |
Commitments, Guarantees, and _2
Commitments, Guarantees, and Contingent Liabilities (Amounts Due of Certain Computer Systems Operated and Maintained under Non-cancelable Contracts with Third-party Service Providers) (Detail) - JPY (¥) ¥ in Millions | Dec. 31, 2019 | Mar. 31, 2019 |
Commitments and Contingencies Disclosure [Abstract] | ||
Within one year | ¥ 3,905 | ¥ 4,323 |
More than one year | 4,579 | 3,185 |
Total | ¥ 8,484 | ¥ 7,508 |
Commitments, Guarantees, and _3
Commitments, Guarantees, and Contingent Liabilities (Summary of Potential Future Payments, Book Value Recorded as Guarantee Liabilities of Guarantee Contracts Outstanding and Maturity of Longest Guarantee Contracts) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Mar. 31, 2019 | |
Guarantor Obligations [Line Items] | ||
Potential future payment | ¥ 1,047,216 | ¥ 1,059,899 |
Book value of guarantee liabilities | 54,373 | 55,245 |
Transferred Loans | ||
Guarantor Obligations [Line Items] | ||
Potential future payment | 195,190 | 175,623 |
Book value of guarantee liabilities | ¥ 1,408 | ¥ 1,436 |
Maturity of the longest contract (Years) | 2060 | 2059 |
Consumer Loans | ||
Guarantor Obligations [Line Items] | ||
Potential future payment | ¥ 342,156 | ¥ 343,119 |
Book value of guarantee liabilities | ¥ 42,406 | ¥ 42,400 |
Maturity of the longest contract (Years) | 2030 | 2030 |
Housing Loans | ||
Guarantor Obligations [Line Items] | ||
Potential future payment | ¥ 11,143 | ¥ 40,395 |
Book value of guarantee liabilities | ¥ 4,513 | ¥ 4,701 |
Maturity of the longest contract (Years) | 2048 | 2048 |
Other Guarantees | ||
Guarantor Obligations [Line Items] | ||
Potential future payment | ¥ 186 | ¥ 263 |
Book value of guarantee liabilities | ¥ 1 | ¥ 1 |
Maturity of the longest contract (Years) | 2024 | 2024 |
Corporate Loans | ||
Guarantor Obligations [Line Items] | ||
Potential future payment | ¥ 498,541 | ¥ 500,499 |
Book value of guarantee liabilities | ¥ 6,045 | ¥ 6,707 |
Maturity of the longest contract (Years) | 2027 | 2026 |
Commitments, Guarantees, and _4
Commitments, Guarantees, and Contingent Liabilities (Assets Provided as Collateral for Short-Term and Long-Term Debt Payables to Financial Institutions) (Detail) - JPY (¥) ¥ in Millions | Dec. 31, 2019 | Mar. 31, 2019 |
Debt Disclosure [Abstract] | ||
Lease payments, loans and investment in operating leases | ¥ 130,832 | ¥ 109,210 |
Investment in securities | 162,317 | 160,408 |
Property under facility operations | 28,250 | 31,264 |
Other assets and other | 22,168 | 28,895 |
Total | ¥ 343,567 | ¥ 329,777 |
Segment Information (Financial
Segment Information (Financial Information of Segments) (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2019 | |
Segment Reporting Information [Line Items] | |||||
Segment revenues | ¥ 571,701 | ¥ 534,141 | ¥ 1,684,379 | ¥ 1,796,155 | |
Segment profits | 86,145 | 82,409 | 247,809 | 239,028 | |
Assets | 12,842,958 | 12,842,958 | ¥ 12,174,917 | ||
Operating Segment | |||||
Segment Reporting Information [Line Items] | |||||
Segment revenues | 574,653 | 537,262 | 1,691,739 | 1,802,142 | |
Segment profits | 122,538 | 74,501 | 352,927 | 297,817 | |
Assets | 10,859,154 | 10,859,154 | 9,997,698 | ||
Operating Segment | Corporate Financial Services | |||||
Segment Reporting Information [Line Items] | |||||
Segment revenues | 24,031 | 20,650 | 69,721 | 71,717 | |
Segment profits | 4,008 | 2,972 | 13,159 | 19,760 | |
Assets | 1,000,148 | 1,000,148 | 959,725 | ||
Operating Segment | Maintenance Leasing | |||||
Segment Reporting Information [Line Items] | |||||
Segment revenues | 76,801 | 72,662 | 224,017 | 214,304 | |
Segment profits | 9,142 | 9,804 | 25,767 | 30,387 | |
Assets | 900,943 | 900,943 | 873,775 | ||
Operating Segment | Real Estate | |||||
Segment Reporting Information [Line Items] | |||||
Segment revenues | 102,851 | 113,383 | 332,039 | 357,381 | |
Segment profits | 9,892 | 10,557 | 56,070 | 54,721 | |
Assets | 756,092 | 756,092 | 720,221 | ||
Operating Segment | Investment and Operation | |||||
Segment Reporting Information [Line Items] | |||||
Segment revenues | 116,245 | 136,357 | 341,302 | 504,032 | |
Segment profits | 27,203 | 6,201 | 55,590 | 31,091 | |
Assets | 808,466 | 808,466 | 733,612 | ||
Operating Segment | Retail | |||||
Segment Reporting Information [Line Items] | |||||
Segment revenues | 129,888 | 67,553 | 355,468 | 289,288 | |
Segment profits | 27,262 | 17,062 | 70,447 | 66,237 | |
Assets | 4,110,336 | 4,110,336 | 3,571,437 | ||
Operating Segment | Overseas Business | |||||
Segment Reporting Information [Line Items] | |||||
Segment revenues | 124,837 | 126,657 | 369,192 | 365,420 | |
Segment profits | 45,031 | ¥ 27,905 | 131,894 | ¥ 95,621 | |
Assets | ¥ 3,283,169 | ¥ 3,283,169 | ¥ 3,138,928 |
Segment Information (Reconcilia
Segment Information (Reconciliation of Segment Totals to Consolidated Financial Statement Amounts) (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | ||||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2019 | Mar. 31, 2019 | Sep. 30, 2018 | Mar. 31, 2018 | |
Segment revenues: | ||||||||
Revenues | ¥ 571,701 | ¥ 534,141 | ¥ 1,684,379 | ¥ 1,796,155 | ||||
Segment profits: | ||||||||
Total profits for segments | 75,020 | 63,090 | 236,722 | 258,184 | ||||
Net income attributable to the noncontrolling interests and net income attributable to the redeemable noncontrolling interests | (359) | (434) | ||||||
Income before Income Taxes | 121,829 | 74,223 | 350,458 | 295,168 | ||||
Segment assets: | ||||||||
Allowance for doubtful receivables on finance leases and probable loan losses | (56,922) | (57,343) | (56,922) | (57,343) | ¥ (55,173) | ¥ (58,011) | ¥ (55,840) | ¥ (54,672) |
Trade Notes, Accounts and Other Receivable | 276,405 | 276,405 | 280,590 | |||||
Other corporate assets | 1,434,080 | 1,434,080 | 1,462,104 | |||||
Assets | 12,842,958 | 12,842,958 | 12,174,917 | |||||
Operating Segment | ||||||||
Segment revenues: | ||||||||
Revenues | 574,653 | 537,262 | 1,691,739 | 1,802,142 | ||||
Segment profits: | ||||||||
Total profits for segments | 122,538 | 74,501 | 352,927 | 297,817 | ||||
Segment assets: | ||||||||
Assets | 10,859,154 | 10,859,154 | 9,997,698 | |||||
Corporate, Non-Segment | ||||||||
Segment revenues: | ||||||||
Revenues | 1,805 | 1,162 | 8,035 | 7,894 | ||||
Segment profits: | ||||||||
Corporate profits (losses) | (2,439) | (1,027) | (6,875) | (5,190) | ||||
Net income attributable to the noncontrolling interests and net income attributable to the redeemable noncontrolling interests | 1,730 | 749 | 4,406 | 2,541 | ||||
Segment assets: | ||||||||
Cash and cash equivalents, restricted cash | 1,020,609 | 1,020,609 | 1,283,580 | |||||
Allowance for doubtful receivables on finance leases and probable loan losses | (56,922) | (56,922) | (58,011) | |||||
Trade Notes, Accounts and Other Receivable | 276,405 | 276,405 | 280,590 | |||||
Other corporate assets | 743,712 | 743,712 | ¥ 671,060 | |||||
Intersegment Eliminations | ||||||||
Segment revenues: | ||||||||
Revenues | ¥ (4,757) | ¥ (4,283) | ¥ (15,395) | ¥ (13,881) |
Segment Information (Geographic
Segment Information (Geographical Revenues and Income before Income Taxes) (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Segment Reporting Information [Line Items] | |||||
Total Revenues | ¥ 571,701 | ¥ 534,141 | ¥ 1,684,379 | ¥ 1,796,155 | |
Income before Income Taxes | 121,829 | 74,223 | 350,458 | 295,168 | |
Japan | Reportable Geographical Components | |||||
Segment Reporting Information [Line Items] | |||||
Total Revenues | 446,798 | 408,515 | 1,314,414 | 1,433,808 | |
Income before Income Taxes | 78,153 | 47,354 | 219,836 | 201,496 | |
The Americas | Reportable Geographical Components | |||||
Segment Reporting Information [Line Items] | |||||
Total Revenues | [1] | 52,623 | 50,509 | 154,143 | 149,509 |
Income before Income Taxes | [1] | 19,307 | 11,626 | 64,739 | 55,590 |
Other Countries | Reportable Geographical Components | |||||
Segment Reporting Information [Line Items] | |||||
Total Revenues | [2] | 72,280 | 75,117 | 215,822 | 212,838 |
Income before Income Taxes | [2] | ¥ 24,369 | ¥ 15,243 | ¥ 65,883 | ¥ 38,082 |
[1] | Mainly the United States | ||||
[2] | Mainly Asia, Europe, Australasia and the Middle East |
Segment Information (Disaggrega
Segment Information (Disaggregation of Revenues for Revenues From Contracts With Customers, by Goods and Services Category and Geographical Location) (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | ¥ 289,145 | ¥ 325,457 | ¥ 866,201 | ¥ 1,052,813 | |
Segment revenues /Total revenues | 571,701 | 534,141 | 1,684,379 | 1,796,155 | |
Sales of Goods | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 75,435 | 102,043 | 214,858 | 389,954 | |
Real Estate Sales | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 20,198 | 20,394 | 65,269 | 63,244 | |
Asset Management and Servicing | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 49,538 | 50,100 | 139,280 | 148,751 | |
Automobile related services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 20,677 | 20,447 | 58,956 | 58,646 | |
Facilities operation | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 16,355 | 27,837 | 58,170 | 82,568 | |
Environment and energy services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 32,220 | 31,756 | 108,347 | 99,091 | |
Real estate management and brokerage | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 26,392 | 26,066 | 77,858 | 77,152 | |
Real estate contract work | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 22,657 | 21,006 | 65,338 | 53,046 | |
Other | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 25,673 | 25,808 | 78,125 | 80,361 | |
Sales of Goods and Real Estate and Service [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 289,145 | 325,457 | 866,201 | 1,052,813 | |
Other Revenue | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | [1] | 282,556 | 208,684 | 818,178 | 743,342 |
Japan | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 234,100 | 263,567 | 707,423 | 877,032 | |
The Americas | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 27,374 | 30,716 | 76,367 | 89,901 | |
Other Countries | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 27,671 | 31,174 | 82,411 | 85,880 | |
Operating Segment | |||||
Segment Reporting Information [Line Items] | |||||
Segment revenues /Total revenues | 574,653 | 537,262 | 1,691,739 | 1,802,142 | |
Operating Segment | Sales of Goods | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 75,296 | 101,891 | 213,642 | 388,787 | |
Operating Segment | Real Estate Sales | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 20,198 | 20,394 | 65,269 | 63,244 | |
Operating Segment | Asset Management and Servicing | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 49,576 | 50,111 | 139,360 | 148,817 | |
Operating Segment | Automobile related services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 20,774 | 20,543 | 59,252 | 58,917 | |
Operating Segment | Facilities operation | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 16,355 | 27,837 | 58,170 | 82,568 | |
Operating Segment | Environment and energy services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 32,407 | 31,959 | 108,895 | 99,710 | |
Operating Segment | Real estate management and brokerage | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 26,782 | 26,350 | 79,648 | 78,466 | |
Operating Segment | Real estate contract work | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 22,657 | 21,015 | 65,338 | 53,055 | |
Operating Segment | Other | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 26,577 | 27,338 | 79,316 | 81,872 | |
Operating Segment | Sales of Goods and Real Estate and Service [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 290,622 | 327,438 | 868,890 | 1,055,436 | |
Operating Segment | Other Revenue | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | [1] | 284,031 | 209,824 | 822,849 | 746,706 |
Operating Segment | Corporate Financial Services | |||||
Segment Reporting Information [Line Items] | |||||
Segment revenues /Total revenues | 24,031 | 20,650 | 69,721 | 71,717 | |
Operating Segment | Corporate Financial Services | Sales of Goods | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 1,506 | 1,180 | 4,323 | 3,184 | |
Operating Segment | Corporate Financial Services | Real Estate Sales | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | Corporate Financial Services | Asset Management and Servicing | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | Corporate Financial Services | Automobile related services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 121 | 122 | 372 | 367 | |
Operating Segment | Corporate Financial Services | Facilities operation | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | Corporate Financial Services | Environment and energy services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 610 | 551 | 2,298 | 2,242 | |
Operating Segment | Corporate Financial Services | Real estate management and brokerage | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | Corporate Financial Services | Real estate contract work | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | Corporate Financial Services | Other | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 9,312 | 8,028 | 26,003 | 26,545 | |
Operating Segment | Corporate Financial Services | Sales of Goods and Real Estate and Service [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 11,549 | 9,881 | 32,996 | 32,338 | |
Operating Segment | Corporate Financial Services | Other Revenue | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | [1] | 12,482 | 10,769 | 36,725 | 39,379 |
Operating Segment | Maintenance Leasing | |||||
Segment Reporting Information [Line Items] | |||||
Segment revenues /Total revenues | 76,801 | 72,662 | 224,017 | 214,304 | |
Operating Segment | Maintenance Leasing | Sales of Goods | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 1,528 | 1,142 | 4,734 | 3,539 | |
Operating Segment | Maintenance Leasing | Real Estate Sales | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | Maintenance Leasing | Asset Management and Servicing | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | Maintenance Leasing | Automobile related services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 16,254 | 16,027 | 45,727 | 45,659 | |
Operating Segment | Maintenance Leasing | Facilities operation | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | Maintenance Leasing | Environment and energy services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | Maintenance Leasing | Real estate management and brokerage | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | Maintenance Leasing | Real estate contract work | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | Maintenance Leasing | Other | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 2,551 | 2,235 | 7,389 | 6,750 | |
Operating Segment | Maintenance Leasing | Sales of Goods and Real Estate and Service [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 20,333 | 19,404 | 57,850 | 55,948 | |
Operating Segment | Maintenance Leasing | Other Revenue | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | [1] | 56,468 | 53,258 | 166,167 | 158,356 |
Operating Segment | Real Estate | |||||
Segment Reporting Information [Line Items] | |||||
Segment revenues /Total revenues | 102,851 | 113,383 | 332,039 | 357,381 | |
Operating Segment | Real Estate | Sales of Goods | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 346 | 1,544 | 3,257 | 4,876 | |
Operating Segment | Real Estate | Real Estate Sales | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 19,948 | 20,148 | 64,518 | 62,842 | |
Operating Segment | Real Estate | Asset Management and Servicing | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 2,060 | 1,579 | 5,962 | 4,458 | |
Operating Segment | Real Estate | Automobile related services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | Real Estate | Facilities operation | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 16,248 | 26,860 | 57,807 | 79,624 | |
Operating Segment | Real Estate | Environment and energy services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 43 | 0 | 165 | |
Operating Segment | Real Estate | Real estate management and brokerage | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 26,782 | 26,350 | 79,648 | 78,466 | |
Operating Segment | Real Estate | Real estate contract work | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 22,657 | 21,015 | 65,338 | 53,055 | |
Operating Segment | Real Estate | Other | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 967 | 1,098 | 3,046 | 3,334 | |
Operating Segment | Real Estate | Sales of Goods and Real Estate and Service [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 89,008 | 98,637 | 279,576 | 286,820 | |
Operating Segment | Real Estate | Other Revenue | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | [1] | 13,843 | 14,746 | 52,463 | 70,561 |
Operating Segment | Investment and Operation | |||||
Segment Reporting Information [Line Items] | |||||
Segment revenues /Total revenues | 116,245 | 136,357 | 341,302 | 504,032 | |
Operating Segment | Investment and Operation | Sales of Goods | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 71,352 | 94,144 | 197,472 | 371,192 | |
Operating Segment | Investment and Operation | Real Estate Sales | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | Investment and Operation | Asset Management and Servicing | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 85 | 93 | 264 | 328 | |
Operating Segment | Investment and Operation | Automobile related services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 48 | 46 | 172 | 139 | |
Operating Segment | Investment and Operation | Facilities operation | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | Investment and Operation | Environment and energy services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 31,591 | 31,158 | 105,810 | 96,520 | |
Operating Segment | Investment and Operation | Real estate management and brokerage | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | Investment and Operation | Real estate contract work | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | Investment and Operation | Other | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 9,138 | 9,184 | 28,747 | 27,975 | |
Operating Segment | Investment and Operation | Sales of Goods and Real Estate and Service [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 112,214 | 134,625 | 332,465 | 496,154 | |
Operating Segment | Investment and Operation | Other Revenue | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | [1] | 4,031 | 1,732 | 8,837 | 7,878 |
Operating Segment | Retail | |||||
Segment Reporting Information [Line Items] | |||||
Segment revenues /Total revenues | 129,888 | 67,553 | 355,468 | 289,288 | |
Operating Segment | Retail | Sales of Goods | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | Retail | Real Estate Sales | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | Retail | Asset Management and Servicing | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 42 | 37 | 122 | 121 | |
Operating Segment | Retail | Automobile related services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | Retail | Facilities operation | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | Retail | Environment and energy services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | Retail | Real estate management and brokerage | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | Retail | Real estate contract work | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | Retail | Other | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 1,087 | 843 | 3,052 | 2,319 | |
Operating Segment | Retail | Sales of Goods and Real Estate and Service [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 1,129 | 880 | 3,174 | 2,440 | |
Operating Segment | Retail | Other Revenue | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | [1] | 128,759 | 66,673 | 352,294 | 286,848 |
Operating Segment | Overseas Business | |||||
Segment Reporting Information [Line Items] | |||||
Segment revenues /Total revenues | 124,837 | 126,657 | 369,192 | 365,420 | |
Operating Segment | Overseas Business | Sales of Goods | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 564 | 3,881 | 3,856 | 5,996 | |
Operating Segment | Overseas Business | Real Estate Sales | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 250 | 246 | 751 | 402 | |
Operating Segment | Overseas Business | Asset Management and Servicing | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 47,389 | 48,402 | 133,012 | 143,910 | |
Operating Segment | Overseas Business | Automobile related services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 4,351 | 4,348 | 12,981 | 12,752 | |
Operating Segment | Overseas Business | Facilities operation | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 107 | 977 | 363 | 2,944 | |
Operating Segment | Overseas Business | Environment and energy services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 206 | 207 | 787 | 783 | |
Operating Segment | Overseas Business | Real estate management and brokerage | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | Overseas Business | Real estate contract work | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | Overseas Business | Other | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 3,522 | 5,950 | 11,079 | 14,949 | |
Operating Segment | Overseas Business | Sales of Goods and Real Estate and Service [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 56,389 | 64,011 | 162,829 | 181,736 | |
Operating Segment | Overseas Business | Other Revenue | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | [1] | 68,448 | 62,646 | 206,363 | 183,684 |
Operating Segment | Japan | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 234,779 | 264,908 | 707,581 | 877,512 | |
Operating Segment | Japan | Corporate Financial Services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 11,549 | 9,881 | 32,996 | 32,338 | |
Operating Segment | Japan | Maintenance Leasing | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 20,142 | 19,331 | 57,285 | 55,675 | |
Operating Segment | Japan | Real Estate | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 89,008 | 98,637 | 279,576 | 286,820 | |
Operating Segment | Japan | Investment and Operation | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 111,971 | 134,420 | 331,404 | 495,602 | |
Operating Segment | Japan | Retail | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 1,129 | 880 | 3,174 | 2,440 | |
Operating Segment | Japan | Overseas Business | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 980 | 1,759 | 3,146 | 4,637 | |
Operating Segment | The Americas | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 27,374 | 30,716 | 76,367 | 89,901 | |
Operating Segment | The Americas | Corporate Financial Services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | The Americas | Maintenance Leasing | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | The Americas | Real Estate | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | The Americas | Investment and Operation | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | The Americas | Retail | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | The Americas | Overseas Business | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 27,374 | 30,716 | 76,367 | 89,901 | |
Operating Segment | Other Countries | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 28,469 | 31,814 | 84,942 | 88,023 | |
Operating Segment | Other Countries | Corporate Financial Services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | Other Countries | Maintenance Leasing | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 191 | 73 | 565 | 273 | |
Operating Segment | Other Countries | Real Estate | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | Other Countries | Investment and Operation | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 243 | 205 | 1,061 | 552 | |
Operating Segment | Other Countries | Retail | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | Other Countries | Overseas Business | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 28,035 | 31,536 | 83,316 | 87,198 | |
Corporate And Intersegment Eliminations [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Segment revenues /Total revenues | (2,952) | (3,121) | (7,360) | (5,987) | |
Corporate And Intersegment Eliminations [Member] | Sales of Goods | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 139 | 152 | 1,216 | 1,167 | |
Corporate And Intersegment Eliminations [Member] | Real Estate Sales | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Corporate And Intersegment Eliminations [Member] | Asset Management and Servicing | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | (38) | (11) | (80) | (66) | |
Corporate And Intersegment Eliminations [Member] | Automobile related services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | (97) | (96) | (296) | (271) | |
Corporate And Intersegment Eliminations [Member] | Facilities operation | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Corporate And Intersegment Eliminations [Member] | Environment and energy services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | (187) | (203) | (548) | (619) | |
Corporate And Intersegment Eliminations [Member] | Real estate management and brokerage | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | (390) | (284) | (1,790) | (1,314) | |
Corporate And Intersegment Eliminations [Member] | Real estate contract work | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | (9) | 0 | (9) | |
Corporate And Intersegment Eliminations [Member] | Other | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | (904) | (1,530) | (1,191) | (1,511) | |
Corporate And Intersegment Eliminations [Member] | Sales of Goods and Real Estate and Service [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | (1,477) | (1,981) | (2,689) | (2,623) | |
Corporate And Intersegment Eliminations [Member] | Other Revenue | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | [1] | (1,475) | (1,140) | (4,671) | (3,364) |
Corporate And Intersegment Eliminations [Member] | Japan | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | (679) | (1,341) | (158) | (480) | |
Corporate And Intersegment Eliminations [Member] | The Americas | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Corporate And Intersegment Eliminations [Member] | Other Countries | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | ¥ (798) | ¥ (640) | ¥ (2,531) | ¥ (2,143) | |
[1] | Other revenues include revenues that are not in the scope of revenue from contracts with customers, such as life insurance premiums and related investment income, operating leases, finance revenues that include interest income, and others. |