Cover Page
Cover Page | 12 Months Ended |
Mar. 31, 2022 shares | |
Document Information [Line Items] | |
Document Type | 20-F |
Amendment Flag | false |
Document Period End Date | Mar. 31, 2022 |
Document Fiscal Year Focus | 2022 |
Document Fiscal Period Focus | FY |
Entity Interactive Data Current | Yes |
Document Annual Report | true |
Document Transition Report | false |
Document Shell Company Report | false |
Entity Registrant Name | ORIX CORPORATION |
Entity Central Index Key | 0001070304 |
Current Fiscal Year End Date | --03-31 |
Entity Well-known Seasoned Issuer | Yes |
Entity Current Reporting Status | Yes |
Entity Voluntary Filers | No |
Entity Filer Category | Large Accelerated Filer |
Entity Emerging Growth Company | false |
Entity Shell Company | false |
Document Registration Statement | false |
Document Accounting Standard | U.S. GAAP |
Entity File Number | 001-14856 |
Entity Address, Address Line One | World Trade Center Building |
Entity Address, Address Line Two | SOUTH TOWER, 2-4-1 Hamamatsu-cho |
Entity Address, Address Line Three | Minato-ku |
Entity Address, City or Town | Tokyo |
Entity Address, Country | JP |
Entity Address, Postal Zip Code | 105-5135 |
Entity Incorporation, State or Country Code | M0 |
Entity Common Stock, Shares Outstanding | 1,258,277,087 |
ICFR Auditor Attestation Flag | true |
Auditor Name | KPMG AZSA LLC |
Auditor Firm ID | 1009 |
Auditor Location | Tokyo, Japan |
Common Stock [Member] | |
Document Information [Line Items] | |
No Trading Symbol Flag | true |
Title of 12(b) Security | Common stock without par value (the “Shares”) |
American Depositary Shares [Member] | |
Document Information [Line Items] | |
Trading Symbol | IX |
Title of 12(b) Security | American depository shares (the “ADSs”), each of which represents five shares |
Security Exchange Name | NYSE |
Business Contact [Member] | |
Document Information [Line Items] | |
Entity Address, Address Line One | World Trade Center Building |
Entity Address, Address Line Two | SOUTH TOWER, 2-4-1 Hamamatsu-cho |
Entity Address, Address Line Three | Minato-ku |
Contact Personnel Name | Akira Igarashi |
Entity Address, City or Town | Tokyo |
Entity Address, Country | JP |
Entity Address, Postal Zip Code | 105-5135 |
Contact Personnel Fax Number | 81-3-3435-1276 |
City Area Code | 81-3 |
Local Phone Number | 3435-1274 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - JPY (¥) ¥ in Millions | Mar. 31, 2022 | Mar. 31, 2021 |
ASSETS | ||
Cash and Cash Equivalents | ¥ 954,827 | ¥ 951,242 |
Restricted Cash | 136,985 | 128,333 |
Net investment in Leases | 1,057,973 | 1,029,518 |
Installment Loans The amounts which are measured at fair value by electing the fair value option are as follows: March 31, 2021 ¥63,272 million March 31, 2022 ¥151,601 million | 3,862,604 | 3,670,784 |
Allowance for Credit Losses | (69,459) | (78,945) |
Investment in Operating Leases | 1,463,202 | 1,408,189 |
Investment in Securities The amounts which are measured at fair value by electing the fair value option are as follows: March 31, 2021 ¥9,384 million March 31, 2022 ¥19,353 million The amounts which are associated to available-for-sale debt securities are as follows: March 31, 2021 Amortized Cost ¥2,026,767 million Allowance for Credit Losses ¥(120) million March 31, 2022 Amortized Cost ¥2,276,425 million Allowance for Credit Losses ¥(153) million | 2,852,349 | 2,660,443 |
Property under Facility Operations | 561,846 | 491,855 |
Investment in Affiliates | 978,033 | 887,764 |
Trade Notes, Accounts and Other Receivable | 359,949 | 354,334 |
Inventories | 139,563 | 142,156 |
Office Facilities | 240,421 | 246,399 |
Other Assets | 1,732,379 | 1,671,010 |
Total Assets | 14,270,672 | 13,563,082 |
Liabilities: | ||
Short-Term Debt | 439,639 | 307,269 |
Deposits | 2,276,158 | 2,317,785 |
Trade Notes, Accounts and Other Payable | 291,422 | 260,712 |
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, 2021 ¥266,422 million March 31, 2022 ¥198,905 million | 1,963,623 | 1,822,422 |
Income Taxes: | ||
Current | 115,340 | 22,170 |
Deferred | 345,841 | 341,290 |
Long-Term Debt | 4,427,046 | 4,416,833 |
Other Liabilities | 1,040,202 | 971,457 |
Total Liabilities | 10,899,271 | 10,459,938 |
Commitments and Contingent Liabilities | ||
Equity: | ||
Common stock: Authorized: 2,590,000,000 shares Issued: March 31, 2021 1,285,724,480 shares March 31, 2022 1,258,277,087 shares | 221,111 | 221,111 |
Additional Paid-in Capital | 260,479 | 259,361 |
Retained Earnings | 2,909,317 | 2,744,588 |
Accumulated Other Comprehensive Income (Loss) | (16,041) | (84,650) |
Treasury Stock, at Cost: | (113,447) | (111,954) |
ORIX Corporation Shareholders' Equity | 3,261,419 | 3,028,456 |
Noncontrolling Interests | 109,982 | 74,688 |
Total Equity | 3,371,401 | 3,103,144 |
Total Liabilities and Equity | 14,270,672 | 13,563,082 |
Variable Interest Entity, Primary Beneficiary | ||
ASSETS | ||
Cash and Cash Equivalents | 3,899 | 4,305 |
Installment Loans (Net of Allowance for Credit Losses) | 212,371 | 238,236 |
Investment in Operating Leases | 101,881 | 78,633 |
Property under Facility Operations | 210,307 | 230,216 |
Investment in Affiliates | 51,877 | 51,226 |
Other Assets | 95,613 | 111,924 |
Total Assets | 675,948 | 714,540 |
Liabilities: | ||
Short-Term Debt | 0 | 500 |
Trade Notes, Accounts and Other Payable | 2,251 | 2,390 |
Income Taxes: | ||
Long-Term Debt | 431,312 | 413,268 |
Other Liabilities | 38,891 | 42,024 |
Total Liabilities | ¥ 472,454 | ¥ 458,182 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - JPY (¥) ¥ in Millions | Mar. 31, 2022 | Mar. 31, 2021 |
Installment Loans, fair value | ¥ 151,601 | ¥ 63,272 |
Investment in securities, measured at fair value | 19,353 | 9,384 |
Amortized Cost | 2,276,425 | 2,026,767 |
Allowance for Credit Losses | (153) | (120) |
Other assets, measured at fair value | 5,214 | 6,297 |
Policy liabilities and Policy Account Balances | ¥ 198,905 | ¥ 266,422 |
Common stock, authorized | 2,590,000,000 | 2,590,000,000 |
Common stock, shares issued | 1,258,277,087 | 1,285,724,480 |
Treasury stock, shares | 64,877,309 | 68,386,164 |
Officer's Compensation Board Incentive Plan | ||
Treasury stock, shares | 1,963,282 | 2,154,248 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Revenues: | |||
Total revenues | ¥ 2,520,365 | ¥ 2,292,708 | ¥ 2,280,329 |
Expenses: | |||
Interest expense | 68,232 | 78,068 | 99,138 |
Costs of operating leases | 322,070 | 295,628 | 289,604 |
Life insurance costs | 368,140 | 374,348 | 269,425 |
Costs of goods and real estate sold | 381,119 | 347,721 | 354,006 |
Services expense | 495,110 | 439,233 | 483,914 |
Other (income) and expense | 20,494 | 17,125 | 14,925 |
Selling, general and administrative expenses | 522,782 | 456,795 | 460,199 |
Provision for doubtful receivables and probable loan losses | 0 | 0 | 24,425 |
Provision for Credit Losses | 3,939 | 16,021 | 0 |
Write-downs of long-lived assets | 35,666 | 3,020 | 3,043 |
Write-downs of securities | 730 | 5,935 | 11,969 |
Total expenses | 2,218,282 | 2,033,894 | 2,010,648 |
Operating Income | 302,083 | 258,814 | 269,681 |
Equity in Net Income (Loss) of Affiliates | 15,006 | 481 | 67,924 |
Gains on Sales of Subsidiaries and Affiliates and Liquidation Losses, net | 187,787 | 23,300 | 74,001 |
Bargain Purchase Gain | 0 | 4,966 | 955 |
Income before Income Taxes | 504,876 | 287,561 | 412,561 |
Provision for Income Taxes | 187,264 | 90,747 | 105,837 |
Net Income | 317,612 | 196,814 | 306,724 |
Net Income Attributable to the Noncontrolling Interests | 5,477 | 4,453 | 3,640 |
Net Income (Loss) Attributable to the Redeemable Noncontrolling Interests | 0 | (23) | 384 |
Net Income Attributable to ORIX Corporation Shareholders | ¥ 312,135 | ¥ 192,384 | ¥ 302,700 |
Basic: | |||
Net Income Attributable to ORIX Corporation Shareholders | ¥ 259.37 | ¥ 155.54 | ¥ 237.38 |
Diluted: | |||
Net Income Attributable to ORIX Corporation Shareholders | 259.07 | 155.39 | 237.17 |
Cash Dividends | ¥ 82 | ¥ 76 | ¥ 81 |
Finance Revenues | |||
Revenues: | |||
Total revenues | ¥ 279,589 | ¥ 271,194 | ¥ 276,864 |
Gains (losses) on investment securities and dividends | |||
Revenues: | |||
Total revenues | 56,510 | 46,097 | 22,499 |
Operating Leases | |||
Revenues: | |||
Total revenues | 450,454 | 397,065 | 430,665 |
Life Insurance Premiums And Related Investment Income | |||
Revenues: | |||
Total revenues | 481,810 | 487,550 | 367,778 |
Sales of Goods and Real Estate | |||
Revenues: | |||
Total revenues | 435,398 | 410,953 | 406,511 |
Services Income | |||
Revenues: | |||
Total revenues | ¥ 816,604 | ¥ 679,849 | ¥ 776,012 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Statement of Comprehensive Income [Abstract] | |||
Net Income | ¥ 317,612 | ¥ 196,814 | ¥ 306,724 |
Other comprehensive income (loss), net of tax: | |||
Net change of unrealized gains (losses) on investment in securities | (56,684) | (11,182) | (22,456) |
Net change of debt valuation adjustments | (337) | (899) | 875 |
Net change of defined benefit pension plans | 13,002 | 5,330 | 1,529 |
Net change of foreign currency translation adjustments | 105,693 | 36,246 | (31,664) |
Net change of unrealized gains (losses) on derivative instruments | 15,070 | 4,782 | (8,556) |
Total other comprehensive income (loss) | 76,744 | 34,277 | (60,272) |
Comprehensive Income | 394,356 | 231,091 | 246,452 |
Comprehensive Income Attributable to the Noncontrolling Interests | 12,137 | 5,128 | 756 |
Comprehensive Income (loss) Attributable to the Redeemable Noncontrolling Interests | 0 | (303) | 187 |
Comprehensive Income Attributable to ORIX Corporation Shareholders | ¥ 382,219 | ¥ 226,266 | ¥ 245,509 |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - JPY (¥) ¥ in Millions | Total | Cumulative Effect, Period of Adoption, Adjustment [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Common Stock | Common Stock Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Additional Paid-in Capital | Additional Paid-in Capital Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Retained Earnings | Retained Earnings Cumulative Effect, Period of Adoption, Adjustment [Member] | Retained Earnings Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Accumulated Other Comprehensive Income (Loss) | Accumulated Other Comprehensive Income (Loss) Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Treasury Stock | Treasury Stock Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Total ORIX Corporation Shareholders' Equity | Total ORIX Corporation Shareholders' Equity Cumulative Effect, Period of Adoption, Adjustment [Member] | Total ORIX Corporation Shareholders' Equity Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Noncontrolling Interests | Noncontrolling Interests Cumulative Effect, Period of Adoption, Adjustment [Member] | Noncontrolling Interests Cumulative Effect, Period of Adoption, Adjusted Balance [Member] |
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 | 17,047 | 0 | 17,047 | |||||||||||||||||
Transaction with noncontrolling interests | 1,583 | 241 | 2 | 243 | 1,340 | |||||||||||||||
Comprehensive income, net of tax: | ||||||||||||||||||||
Net income | 306,340 | 302,700 | 302,700 | 3,640 | ||||||||||||||||
Other comprehensive income | ||||||||||||||||||||
Net change of unrealized gains (losses) on investment in securities | (22,456) | (22,390) | (22,390) | (66) | ||||||||||||||||
Net change of debt valuation adjustments | 875 | 875 | 875 | 0 | ||||||||||||||||
Net change of defined benefit pension plans | 1,529 | 1,527 | 1,527 | 2 | ||||||||||||||||
Net change of foreign currency translation adjustments | (31,467) | (28,917) | (28,917) | (2,550) | ||||||||||||||||
Net change of unrealized gains (losses) on derivative instruments | (8,556) | (8,286) | (8,286) | (270) | ||||||||||||||||
Total other comprehensive income (loss) | (60,075) | (57,191) | (2,884) | |||||||||||||||||
Total comprehensive income | 246,265 | 245,509 | 756 | |||||||||||||||||
Cash dividends | (106,867) | (103,824) | (103,824) | (3,043) | ||||||||||||||||
Acquisition of treasury stock | (45,720) | (45,720) | (45,720) | 0 | ||||||||||||||||
Disposal of treasury stock | 220 | (334) | 554 | 220 | 0 | |||||||||||||||
Other, net | 106 | 106 | 106 | 0 | ||||||||||||||||
Ending Balance at Mar. 31, 2020 | 3,065,835 | ¥ 3,022,909 | 221,111 | ¥ 221,111 | 257,638 | ¥ 257,638 | 2,754,461 | ¥ 2,711,606 | (118,532) | ¥ (118,532) | (121,070) | ¥ (121,070) | 2,993,608 | ¥ 2,950,753 | 72,227 | ¥ 72,156 | ||||
Ending Balance (Accounting Standards Update 2016-13) at Mar. 31, 2020 | ¥ (42,926) | ¥ (42,855) | ¥ (42,855) | ¥ (71) | ||||||||||||||||
Contribution to subsidiaries | 18,225 | 0 | 18,225 | |||||||||||||||||
Transaction with noncontrolling interests | (6,988) | 1,700 | 1,700 | (8,688) | ||||||||||||||||
Comprehensive income, net of tax: | ||||||||||||||||||||
Net income | 196,837 | 192,384 | 192,384 | 4,453 | ||||||||||||||||
Other comprehensive income | ||||||||||||||||||||
Net change of unrealized gains (losses) on investment in securities | (11,182) | (11,207) | (11,207) | 25 | ||||||||||||||||
Net change of debt valuation adjustments | (899) | (899) | (899) | 0 | ||||||||||||||||
Net change of defined benefit pension plans | 5,330 | 5,302 | 5,302 | 28 | ||||||||||||||||
Net change of foreign currency translation adjustments | 36,526 | 36,015 | 36,015 | 511 | ||||||||||||||||
Net change of unrealized gains (losses) on derivative instruments | 4,782 | 4,671 | 4,671 | 111 | ||||||||||||||||
Total other comprehensive income (loss) | 34,557 | 33,882 | 675 | |||||||||||||||||
Total comprehensive income | 231,394 | 226,266 | 5,128 | |||||||||||||||||
Cash dividends | (107,297) | (95,164) | (95,164) | (12,133) | ||||||||||||||||
Acquisition of treasury stock | (55,443) | (55,443) | (55,443) | 0 | ||||||||||||||||
Disposal of treasury stock | 95 | (227) | 0 | 322 | 95 | 0 | ||||||||||||||
Cancellation of treasury stock | 0 | (64,237) | 64,237 | 0 | 0 | |||||||||||||||
Other, net | 249 | 250 | (1) | 249 | 0 | |||||||||||||||
Ending Balance at Mar. 31, 2021 | 3,103,144 | ¥ 3,103,359 | 221,111 | ¥ 221,111 | 259,361 | ¥ 259,361 | 2,744,588 | ¥ 2,744,803 | (84,650) | ¥ (84,650) | (111,954) | ¥ (111,954) | 3,028,456 | ¥ 3,028,671 | 74,688 | ¥ 74,688 | ||||
Ending Balance (Accounting Standards Update 2019-12) at Mar. 31, 2021 | ¥ 215 | ¥ 215 | ¥ 215 | ¥ 0 | ||||||||||||||||
Contribution to subsidiaries | 40,514 | 0 | 40,514 | |||||||||||||||||
Transaction with noncontrolling interests | (1,009) | 1,593 | (1,475) | 118 | (1,127) | |||||||||||||||
Comprehensive income, net of tax: | ||||||||||||||||||||
Net income | 317,612 | 312,135 | 312,135 | 5,477 | ||||||||||||||||
Other comprehensive income | ||||||||||||||||||||
Net change of unrealized gains (losses) on investment in securities | (56,684) | (56,684) | (56,684) | 0 | ||||||||||||||||
Net change of debt valuation adjustments | (337) | (337) | (337) | 0 | ||||||||||||||||
Net change of defined benefit pension plans | 13,002 | 13,001 | 13,001 | 1 | ||||||||||||||||
Net change of foreign currency translation adjustments | 105,693 | 99,842 | 99,842 | 5,851 | ||||||||||||||||
Net change of unrealized gains (losses) on derivative instruments | 15,070 | 14,262 | 14,262 | 808 | ||||||||||||||||
Total other comprehensive income (loss) | 76,744 | 70,084 | 6,660 | |||||||||||||||||
Total comprehensive income | 394,356 | 382,219 | 12,137 | |||||||||||||||||
Cash dividends | (115,625) | (99,395) | (99,395) | (16,230) | ||||||||||||||||
Acquisition of treasury stock | (50,001) | (50,001) | (50,001) | 0 | ||||||||||||||||
Disposal of treasury stock | 115 | (168) | 283 | 115 | 0 | |||||||||||||||
Cancellation of treasury stock | 0 | (48,226) | 48,226 | 0 | 0 | |||||||||||||||
Other, net | (308) | (307) | (1) | (308) | 0 | |||||||||||||||
Ending Balance at Mar. 31, 2022 | ¥ 3,371,401 | ¥ 221,111 | ¥ 260,479 | ¥ 2,909,317 | ¥ (16,041) | ¥ (113,447) | ¥ 3,261,419 | ¥ 109,982 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Cash Flows from Operating Activities: | |||
Net income | ¥ 317,612 | ¥ 196,814 | ¥ 306,724 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 330,351 | 315,955 | 304,204 |
Principal payments received under net investment in leases | 462,475 | 426,645 | 474,110 |
Provision for doubtful receivables and probable loan losses | 0 | 0 | 24,425 |
Provision for Credit Losses | 3,939 | 16,021 | 0 |
Equity in net (income) loss of affiliates (excluding interest on loans) | (13,753) | 837 | (65,764) |
Gains on sales of subsidiaries and affiliates and liquidation losses, net | (187,787) | (23,300) | (74,001) |
Bargain purchase gain | 0 | (4,966) | (955) |
Gains on sales of securities other than trading | (22,322) | (15,228) | (18,886) |
Gains on sales of operating lease assets | (40,148) | (26,358) | (51,072) |
Write-downs of long-lived assets | 35,666 | 3,020 | 3,043 |
Write-downs of securities | 730 | 5,935 | 11,969 |
Deferred tax provision | 12,208 | 25,518 | 14,890 |
Decrease in trading securities | 68,422 | 12,103 | 63,681 |
(Increase) Decrease in inventories | (7,053) | (12,061) | 11,938 |
(Increase) Decrease in trade notes, accounts and other receivable | 3,562 | (12,657) | 12,348 |
Increase (Decrease) in trade notes, accounts and other payable | 14,943 | (1,947) | (3,853) |
Increase in policy liabilities and policy account balances | 141,201 | 230,947 | 70,120 |
Increase (Decrease) in income taxes payable | 92,026 | (11,045) | (33,318) |
Other, net | (108,702) | (23,819) | (7,137) |
Net cash provided by operating activities | 1,103,370 | 1,102,414 | 1,042,466 |
Cash Flows from Investing Activities: | |||
Purchases of lease equipment | (872,994) | (716,737) | (948,445) |
Installment loans made to customers | (1,202,198) | (1,198,978) | (1,527,000) |
Principal collected on installment loans | 1,182,261 | 1,139,608 | 1,134,142 |
Proceeds from sales of operating lease assets | 147,104 | 138,912 | 339,504 |
Investment in affiliates, net | (34,804) | (112,922) | (44,140) |
Proceeds from sales of investment in affiliates | 47,677 | 41,730 | 79,950 |
Purchases of available-for-sale debt securities | (526,478) | (709,349) | (711,973) |
Proceeds from sales of available-for-sale debt securities | 239,250 | 285,836 | 249,427 |
Proceeds from redemption of available-for-sale debt securities | 90,478 | 31,859 | 82,754 |
Purchases of equity securities other than trading | (94,182) | (56,314) | (53,616) |
Proceeds from sales of equity securities other than trading | 71,883 | 30,532 | 34,145 |
Purchases of property under facility operations | (44,302) | (43,954) | (44,466) |
Acquisitions of subsidiaries, net of cash acquired | (87,582) | (82,163) | (134,894) |
Sales of subsidiaries, net of cash disposed | 252,921 | 57,722 | 91,835 |
Other, net | 22,120 | (15,772) | (17,709) |
Net cash used in investing activities | (808,846) | (1,209,990) | (1,470,486) |
Cash Flows from Financing Activities: | |||
Net increase (decrease) in debt with maturities of three months or less | 96,383 | (42,136) | 16,182 |
Proceeds from debt with maturities longer than three months | 950,244 | 1,171,350 | 924,779 |
Repayment of debt with maturities longer than three months | (1,160,613) | (1,013,937) | (832,881) |
Net increase (decrease) in deposits due to customers | (42,591) | 85,737 | 304,182 |
Cash dividends paid to ORIX Corporation shareholders | (99,395) | (95,164) | (103,824) |
Acquisition of treasury stock | (50,001) | (55,443) | (45,720) |
Contribution from noncontrolling interests | 25,942 | 24,487 | 23,994 |
Purchases of shares of subsidiaries from noncontrolling interests | (2,086) | (4,791) | (4,501) |
Net increase (decrease) in call money | (7,500) | (17,500) | 10,000 |
Other, net | (17,001) | (12,719) | (3,508) |
Net cash provided by (used in) financing activities | (306,618) | 39,884 | 288,703 |
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash | 24,331 | 11,983 | (8,979) |
Net increase (decrease) in Cash, Cash Equivalents and Restricted Cash | 12,237 | (55,709) | (148,296) |
Cash, Cash Equivalents and Restricted Cash at Beginning of Year | 1,079,575 | 1,135,284 | 1,283,580 |
Cash, Cash Equivalents and Restricted Cash at End of Year | ¥ 1,091,812 | ¥ 1,079,575 | ¥ 1,135,284 |
Significant Accounting and Repo
Significant Accounting and Reporting Policies | 12 Months Ended |
Mar. 31, 2022 | |
Accounting Policies [Abstract] | |
Significant Accounting and Reporting Policies | 1. Significant Accounting and Reporting Policies 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. Significant accounting and reporting policies are summarized as follows: (a) Basis of presenting financial statements The Company and its subsidiaries in Japan maintain their books in conformity with Japanese accounting practices, which differ in certain respects from U.S. GAAP. The accompanying consolidated financial statements have been prepared in conformity with U.S. GAAP and, therefore, reflect certain adjustments to the books and records of the Company and its subsidiaries. The principal adjustments relate to initial direct costs to originate leases and loans, accounting for allowance for credit losses, use of a straight-line basis of depreciation for operating lease assets, deferral of life insurance policy acquisition costs, calculation of insurance policy liabilities, accounting for goodwill and other intangible assets in business combinations, accounting for pension plans, accounting for sales of the parent’s ownership interest in subsidiaries, classification in the statements of cash flows, accounting for transfer of financial assets, accounting for investment in securities, accounting for fair value option, accounting for lessee’s lease and reflection of the income tax effect on such adjustments. (b) Principles of consolidation The consolidated financial statements include the accounts of the Company and all of its subsidiaries. VIEs, for which the Company and its subsidiaries are the primary beneficiaries, are also included in the consolidated financial statements. 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. On the other hand, 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. Investments in affiliates, of which the Company has 20% – 50% ownership or has the ability to exercise significant influence, are accounted for by using the equity method. When the Company holds majority voting interests of an entity but noncontrolling shareholders hold substantive participating rights to make decisions on activities that occur over the ordinary course of the business, the equity method is applied. Investments in affiliates are recorded at cost plus/minus the Company and its subsidiaries’ portion of equity in undistributed earnings. If the value of an investment has declined and is judged to be other-than-temporary, the investment is written down to its fair value. And when an affiliate issues stocks, which price per share is more or less than the Company and its subsidiaries’ average carrying amount per share, to unrelated third parties, 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. A certain overseas subsidiary consolidates subsidiaries determined as investment companies under ASC 946 (“Financial Services—Investment Companies”). Investments held by the investment company subsidiaries are carried at fair value with changes in fair value recognized in earnings. 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. (c) 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 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 and the allowance for credit losses (including the allowance for off-balance In addition, we carefully considered the future outlook regarding the spread of COVID-19 COVID-19 (d) 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. (e) 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, 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. When lease payment is variable, it is accounted for as income in profit or loss in the period when the changes in facts and circumstances on which the variable payment is based occur. When providing leasing services, the Company and its subsidiaries simultaneously conduct supplementary businesses, such as handling taxes and paying insurance on leased assets on behalf of lessees. The compensations for those lessor costs received from lessees are recognized in revenues from finance leases and those costs are recognized in other (income) and expense. 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 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. (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, for net investment in leases and installment loans, past-due past-due past-due past-due past-due past-due past-due non-accrual non-accrual Operating leases — COVID-19 In providing leasing services, the Company and its subsidiaries simultaneously conduct supplementary businesses, such as handling taxes and paying insurance on leased assets on behalf of lessees. The compensations for those lessor costs received from lessees are recognized in operating lease revenues and those costs are recognized in costs of operating leases. Investment in operating leases is recorded at cost less accumulated depreciation. In addition, operating lease assets are depreciated over their estimated useful lives mainly on a straight-line basis. The estimated average useful lives of principal operating lease assets classified as transportation equipment is 7 years, measuring and information-related equipment is 4 years, real estate (other than land) is 31 years and other is 10 years. Depreciation expenses are included in costs of operating leases. Gains or losses arising from dispositions of operating lease assets are included in operating lease revenues. 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. (f) 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. (g) Allowance for doubtful receivables on net investment in leases and probable loan losses The allowance for doubtful receivables on net investment in 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 net investment in 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. (h) Allowance for credit losses Accounting Standards Update 2016-13 The allowance for credit losses estimates all credit losses expected to occur in future over the remaining life of net investment in leases, financial assets measured at amortized cost, such as installment loans, held-to-maturity Developing the allowance for credit 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, prior charge-off The Company and its subsidiaries estimate the allowance for credit losses by using various methods according to these estimates and judgments. When certain financial assets have similar risk characteristics to other financial assets, these financial assets are collectively evaluated as a pool. On the contrary, when financial assets do not have similar risk characteristics to other financial assets, the financial assets are evaluated individually. The Company and its subsidiaries select the most appropriate calculation method based on available information, such as the nature and related risk characteristics on financial assets, the prior 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, etc. In addition, if the entity has a present contractual obligation to extend the credit and the obligation is not unconditionally cancelable by the entity, credit losses related the loan commitments of card loans and installment loans and financial guarantees are in the scope of the allowance for credit losses. For the loan commitments of card loans and installment loans, credit losses are recognized on the loan commitments for the portion expected to be drawn. For financial guarantees, the allowance is recognized for the contingent obligation which generates credit risk exposures. These allowance for off-balance off-balance (i) 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 depreciated or amortized, consisting primarily of office buildings, condominiums, aircraft, ships, mega solar facilities 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, and others 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. (j) 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 fair value 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 For available-for-sale non-credit losses is recognized in other comprehensive income (loss), net of applicable income taxes. In estimating an allowance for credit losses, the Company and its subsidiaries consider that credit losses exist when the present value of estimated cash flows is less than the amortized cost basis. When the Company and its subsidiaries intend to sell the debt securities for which an allowance for credit losses is previously established or it is more likely than not that the Company and its subsidiaries will be required to sell the debt securities before recovery of the amortized cost basis, the allowance for credit losses is fully written off and the amortized cost is reduced to the fair value after recognizing additional impairment in earnings. In addition, the Company and its subsidiaries recognize in earnings the full difference between the amortized cost and the fair value of the debt securities by direct write-down, without any allowance for credit losses, if the debt securities are expected to be sold and the fair value is less than the amortized cost. Held-to-maturity Held-to-maturity (k) Income taxes 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 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 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 in Japan for National Corporation tax purposes. The consolidated tax return in Japan will shift to the Japanese Group Relief System on April 1, 2022. (l) 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 special purpose entities (hereinafter, “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. (m) 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 derivatives are qualified for hedge accounting, 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 net investment in a foreign operation, changes in the fair value of the derivative are recorded in the foreign currency translation adjustments account within other comprehensive income (loss), net of applicable income taxes. 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. For all hedging relationships that are designated and qualified for hedge accounting, at the inception of the hedge, 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. (n) 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. (o) 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. (p) 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. (q) 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 coal-biomass co-fired power plants), 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. Depreciation expenses in fiscal 2020, 2021 and 2022 were ¥27,147 million, ¥30,448 million and ¥29,871 million, respectively. Accumulated depreciation was ¥132,184 million and ¥147,459 million as of March 31, 2021 and 2022, respectively. Estimated useful lives range up to 50 years for buildings, up to 60 years for structures and up to 50 years for others. (r) 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 inven |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Mar. 31, 2022 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | 2. 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, 2021 and 2022: March 31, 2021 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 ¥ 63,272 ¥ 0 ¥ 63,272 ¥ 0 Trading debt securities 2,654 0 2,654 0 Available-for-sale 2,003,917 6,012 1,864,448 133,457 Japanese and foreign government bond securities*2 821,158 3,105 818,053 0 Japanese prefectural and foreign municipal bond securities 276,276 0 273,515 2,761 Corporate debt securities*3 742,251 2,907 738,323 1,021 CMBS and RMBS in the Americas 34,457 0 34,457 0 Other asset-backed securities and debt securities 129,775 0 100 129,675 Equity securities*4*5 396,465 82,039 223,016 91,410 Derivative assets: 22,696 352 8,521 13,823 Interest rate swap agreements 1,867 0 1,867 0 Options held/written and other 19,504 0 5,681 13,823 Futures, foreign exchange contracts 1,179 352 827 0 Foreign currency swap agreements 146 0 146 0 Netting*6 (1,944 ) 0 0 0 Net derivative assets 20,752 0 0 0 Other assets: 6,297 0 0 6,297 Reinsurance recoverables*7 6,297 0 0 6,297 Total ¥ 2,495,301 ¥ 88,403 ¥ 2,161,911 ¥ 244,987 Liabilities: Derivative liabilities: ¥ 71,034 ¥ 475 ¥ 70,526 ¥ 33 Interest rate swap agreements 23,818 0 23,818 0 Options held/written and other 17,009 0 16,976 33 Futures, foreign exchange contracts 25,739 475 25,264 0 Foreign currency swap agreements 4,459 0 4,459 0 Credit derivatives held 9 0 9 0 Netting*6 (1,944 ) 0 0 0 Net derivative Liabilities 69,090 0 0 0 Policy Liabilities and Policy Account Balances: 266,422 0 0 266,422 Variable annuity and variable life insurance contracts*8 266,422 0 0 266,422 Total ¥ 337,456 ¥ 475 ¥ 70,526 ¥ 266,455 March 31, 2022 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 ¥ 151,601 ¥ 0 ¥ 151,601 ¥ 0 Trading debt securities 2,503 0 2,503 0 Available-for-sale 2,174,891 1,095 2,032,736 141,060 Japanese and foreign government bond securities*2 832,613 1,095 831,518 0 Japanese prefectural and foreign municipal bond securities 325,604 0 322,551 3,053 Corporate debt securities*3 849,560 0 848,863 697 CMBS and RMBS in the Americas 28,732 0 28,732 0 Other asset-backed securities and debt securities 138,382 0 1,072 137,310 Equity securities*4*5 385,271 112,200 160,099 112,972 Derivative assets: 51,366 292 46,214 4,860 Interest rate swap agreements 9,570 0 9,570 0 Options held/written and other 25,664 0 20,804 4,860 Futures, foreign exchange contracts 16,006 292 15,714 0 Foreign currency swap agreements 126 0 126 0 Netting*6 (20,333 ) 0 0 0 Net derivative assets 31,033 0 0 0 Other assets: 5,214 0 0 5,214 Reinsurance recoverables*7 5,214 0 0 5,214 Total ¥ 2,770,846 ¥ 113,587 ¥ 2,393,153 ¥ 264,106 Liabilities: Derivative liabilities: ¥ 105,705 ¥ 2,026 ¥ 95,047 ¥ 8,632 Interest rate swap agreements 8,182 0 8,182 0 Options held/written and other 21,562 0 12,930 8,632 Futures, foreign exchange contracts 71,443 2,026 69,417 0 Foreign currency swap agreements 4,518 0 4,518 0 Netting*6 (20,333 ) 0 0 0 Net derivative Liabilities 85,372 0 0 0 Policy Liabilities and Policy Account Balances: 198,905 0 0 198,905 Variable annuity and variable life insurance contracts*8 198,905 0 0 198,905 Total ¥ 304,610 ¥ 2,026 ¥ 95,047 ¥ 207,537 *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”), Federal Home Loan Mortgage Corporation (“Freddie Mac”) and institutional investors. Included in “Other (income) and expense” in the consolidated statements of income were a gain of ¥5,220 million, losses of ¥3,260 million and ¥2,982 million from the change in the fair value of the loans for fiscal 2020, 2021 and 2022, respectively. No gains or losses were recognized in earnings during fiscal 2020, 2021 and 2022 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, 2021, were ¥60,556 million and ¥63,272 million, respectively, and the amount of the aggregate fair value exceeded the amount of aggregate unpaid principal balance by ¥2,716 million. The amounts of aggregate unpaid principal balance and aggregate fair value of the loans held for sale as of March 31, 202 2 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, and others included in equity securities. Included in “Gains on investment securities and dividends” and “Life insurance premiums and related investment income” in the consolidated statements of income were gains of ¥1,225 million, ¥3,187 million and ¥1,199 million from the change in the fair value of those investments for fiscal 2020, 2021 and 2022, respectively. The amounts of aggregate fair value elected the fair value option were ¥4,940 million and ¥11,709 million as of March 31, 2021 and 2022, respectively. *5 The amounts of investment funds measured at net asset value per share which are not included in the above tables were ¥13,737 million and ¥25,999 million as of March 31, 2021 and 2022, 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 ¥6,297 million and ¥5,214 million as of March 31, 2021 and 2022, respectively. For the effect of changes in the fair value of those reinsurance contracts on earnings for fiscal 2020, 2021 and 2022, see Note 2 4 *8 Certain subsidiaries elected the fair value option for the entire variable annuity and variable life insurance contracts held. 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 ¥266,422 million and ¥198,905 million as of March 31, 2021 and 2022, respectively. For the effect of changes in the fair value of the variable annuity and variable life insurance contracts on earnings for fiscal 2020, 2021 and 2022, see Note 2 4 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) in fiscal 2020, 2021 and 2022: 2020 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 March 31, Change in unrealized gains or losses included in earnings for assets and liabilities still held at March 31, 2020*1 Included in earnings*1 Included in other comprehensive income*2 Total Available-for-sale ¥ 100,447 ¥ 1,291 ¥ (13,721 ) ¥ (12,430 ) ¥ 41,270 ¥ (3,925 ) ¥ (34,018 ) ¥ (2,991 ) ¥ 88,353 ¥ 131 Japanese prefectural and foreign municipal bond securities 2,888 0 (56 ) (56 ) 0 0 0 0 2,832 0 Corporate debt securities 7,158 0 (8 ) (8 ) 900 0 (1,065 ) (2,991 ) 3,994 0 Other asset-backed securities and debt securities 90,401 1,291 (13,657 ) (12,366 ) 40,370 (3,925 ) (32,953 ) 0 81,527 131 Equity securities 61,193 8,197 (1,641 ) 6,556 31,725 (10,108 ) (5,465 ) 0 83,901 8,033 Investment funds 61,193 8,197 (1,641 ) 6,556 31,725 (10,108 ) (5,465 ) 0 83,901 8,033 Derivative assets and liabilities (net) 5,272 10,402 (192 ) 10,210 3,748 0 0 0 19,230 10,402 Options held/written and other 5,272 10,402 (192 ) 10,210 3,748 0 0 0 19,230 10,402 Other asset 12,449 2,937 0 2,937 3,053 0 (233 ) 0 18,206 2,937 Reinsurance recoverables*5 12,449 2,937 0 2,937 3,053 0 (233 ) 0 18,206 2,937 Policy Liabilities and Policy Account Balances 360,198 4,802 1,215 6,017 0 0 (53,442 ) 0 300,739 4,802 Variable annuity and variable life insurance contracts*6 360,198 4,802 1,215 6,017 0 0 (53,442 ) 0 300,739 4,802 2021 Millions of yen Balance at April 1, 2020 Gains or losses (realized/unrealized) Purchases*3 Sales Settlements*4 Transfers in and/ or out of Level 3 (net) Balance at March 31, Change in unrealized gains or losses included in earnings for assets and liabilities still held at March 31, 2021*1 Change in unrealized gains or losses included in other assets and liabilities still held at March 31, 2021*2 Included earnings*1 Included in other comprehensive income*2 Total Available-for-sale ¥ 88,353 ¥ (1,065 ) ¥ 14,870 ¥ 13,805 ¥ 51,270 ¥ (12,890 ) ¥ (5,187 ) ¥ (1,894 ) ¥ 133,457 ¥ (1,228 ) ¥ 14,729 Japanese prefectural and foreign municipal bond securities 2,832 (115 ) 44 (71 ) 0 0 0 0 2,761 (115 ) 44 Corporate debt securities 3,994 0 1 1 0 0 (974 ) (2,000 ) 1,021 0 1 Other asset-backed securities and debt securities 81,527 (950 ) 14,825 13,875 51,270 (12,890 ) (4,213 ) 106 129,675 (1,113 ) 14,684 Equity securities 83,901 14,304 1,765 16,069 2,001 (4,718 ) (5,518 ) (325 ) 91,410 14,042 1,769 Investment funds 83,901 14,304 1,765 16,069 2,001 (4,718 ) (5,518 ) (325 ) 91,410 14,042 1,769 Derivative assets and liabilities (net) 19,230 (5,474 ) 34 (5,440 ) 0 0 0 0 13,790 (5,474 ) 34 Options held/written and other 19,230 (5,474 ) 34 (5,440 ) 0 0 0 0 13,790 (5,474 ) 34 Other asset 18,206 (14,201 ) 0 (14,201 ) 2,713 0 (421 ) 0 6,297 (14,201 ) 0 Reinsurance recoverables*5 18,206 (14,201 ) 0 (14,201 ) 2,713 0 (421 ) 0 6,297 (14,201 ) 0 Policy Liabilities and Policy Account Balances 300,739 (42,066 ) (1,248 ) (43,314 ) 0 0 (77,631 ) 0 266,422 (42,066 ) (1,248 ) Variable annuity and variable life insurance contracts*6 300,739 (42,066 ) (1,248 ) (43,314 ) 0 0 (77,631 ) 0 266,422 (42,066 ) (1,248 ) 2022 Millions of yen Balance at April 1, 2021 Gains or losses (realized/unrealized) Purchases*3 Sales Settlements*4 Transfers in and/ or out of Level 3 (net) Balance at March 31, Change in unrealized gains or losses included in earnings for assets and liabilities still held at March 31, 2022*1 Change in unrealized gains or losses included in other assets and liabilities still held at March 31, 2022*2 Included in earnings*1 Included in other comprehensive income*2 Total Available-for-sale ¥ 133,457 ¥ 7,041 ¥ 6,941 ¥ 13,982 ¥ 51,644 ¥ (9,465 ) ¥ (48,558 ) ¥ 0 ¥ 141,060 ¥ 2,445 ¥ 7,116 Japanese prefectural and foreign municipal bond securities 2,761 0 292 292 0 0 0 0 3,053 0 291 Corporate debt securities 1,021 0 (1 ) (1 ) 0 0 (323 ) 0 697 0 (1 ) Other asset-backed securities and debt securities 129,675 7,041 6,650 13,691 51,644 (9,465 ) (48,235 ) 0 137,310 2,445 6,826 Equity securities 91,410 16,350 8,779 25,129 24,606 (26,795 ) (768 ) (610 ) 112,972 4,555 8,743 Investment funds, and others 91,410 16,350 8,779 25,129 24,606 (26,795 ) (768 ) (610 ) 112,972 4,555 8,743 Derivative assets and liabilities (net) 13,790 (18,340 ) 778 (17,562 ) 0 0 0 0 (3,772 ) (18,340 ) 778 Options held/written and other 13,790 (18,340 ) 778 (17,562 ) 0 0 0 0 (3,772 ) (18,340 ) 778 Other asset 6,297 (2,146 ) 0 (2,146 ) 1,835 0 (772 ) 0 5,214 (2,146 ) 0 Reinsurance recoverables*5 6,297 (2,146 ) 0 (2,146 ) 1,835 0 (772 ) 0 5,214 (2,146 ) 0 Policy Liabilities and Policy Account Balances 266,422 (1,743 ) (467 ) (2,210 ) 0 0 (69,727 ) 0 198,905 (1,743 ) (467 ) Variable annuity and variable life insurance contracts*6 266,422 (1,743 ) (467 ) (2,210 ) 0 0 (69,727 ) 0 198,905 (1,743 ) (467 ) *1 Principally, gains and losses from available-for-sale available-for-sale *2 Unrealized gains and losses from available-for-sale *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 fiscal 2020, corporate debt securities totaling ¥2,991 million were transferred from Level 3 to Level 2, since the inputs became observable. In fiscal 2021, corporate debt securities totaling ¥2,000 million and investment funds totaling ¥325 million were transferred from Level 3 to Level 2, since the inputs became observable. In addition, other asset-backed securities and debt securities totaling ¥106 million were transferred from Level 2 to Level 3, since the inputs became unobservable. In fiscal 2022, investment funds, and others totaling ¥610 million were transferred from Level 3 to Level 1, since the inputs became observable. The following tables present recorded amounts of assets measured at fair value on a nonrecurring basis during fiscal 2021 and 2022. These assets are measured at fair value on a nonrecurring basis mainly to recognize impairment: 2021 Millions of yen Total Carrying Value in Consolidated Balance Quoted Prices in Active Markets for Identical (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Loans held for sale ¥ 238 ¥ 0 ¥ 238 ¥ 0 Real estate collateral-dependent loans (net of allowance for credit losses) 10,679 0 0 10,679 Investment in operating leases and property under facility operations 6,740 0 1,806 4,934 Certain equity securities 10,486 0 6,909 3,577 Certain investments in affiliates 11,413 8,799 0 2,614 Certain reporting units including goodwill 775 0 0 775 ¥ 40,331 ¥ 8,799 ¥ 8,953 ¥ 22,579 2022 Millions of yen Total Carrying Value in Consolidated Balance Quoted Prices in Active Markets for Identical (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Loans held for sale ¥ 235 ¥ 0 ¥ 235 ¥ 0 Real estate collateral-dependent loans (net of allowance for credit losses) 6,972 0 0 6,972 Investment in operating leases, property under facility operations, office facilities and other assets 59,847 0 262 59,585 Certain equity securities 9,451 0 9,451 0 Certain investments in affiliates 2,846 0 0 2,846 Certain reporting units including goodwill 192 0 0 192 Certain intangible assets acquired in business combinations 98,014 0 0 98,014 ¥ 177,557 ¥ 0 ¥ 9,948 ¥ 167,609 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. Level 2, if the Company and its subsidiaries measure their fair value based on a market approach using inputs other than quoted prices that are observable for the assets such as treasury rate, swap rate and market spread. The loans held for sale in the Americas are classified as Level 3, if the Company and its subsidiaries measure their fair value based on discounted cash flow methodologies using inputs that are unobservable in the market. Real estate collateral-dependent loans The allowance for credit losses 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, property under facility operations, office facilities and other assets, 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, property under facility operations, office facilities and other assets, 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, and others 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 these 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. Movable properties owned by a certain subsidiary are classified as Level 2, because fair value measurement is based on observable inputs other than quoted prices included within Level 1, such as prices for similar assets. 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. In addition, a certain Americas subsidiary measures its investments held by the investment companies which are owned by the subsidiary at fair value. These investment funds, certain equity securities and certain investments in affiliates are classified as Level 3, because fair value measurement is based on the combination of discounted cash flow methodologies and market multiple valuation methods, or broker quotes. Discounted cash flow methodologies use future cash flows to be generated from investees, weighted average cost of capital (WACC) and others. Market multiple valuation methods use earnings before interest, taxes, depreciation and amortization (EBITDA) multiples based on actual and projected cash flows, comparable peer companies, and comparable precedent transactions and others. Furthermore, certain subsidiaries elected the fair value option for investments in some funds. These investment funds for which the fair value option is elected are classified as level 3, because the subsidiaries measure their fair value using discounting to net asset value based on inputs that are unobservable in the market, or 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. Reporting units including goodwill Certain reporting units including goodwill are classified as level 3, because fair value measurement is based on discounted cash flow methodologies and business enterprise value multiples methodologies using inputs that are unobservable in the market. Discounted cash flow methodologies use future cash flows to be generated, weighted average cost of capital (WACC) and others. Business enterprise value multiples methodologies use earnings before interest, taxes, depreciation and amortization (EBITDA) multiples based on comparable peer companies, comparable precedent transactions and others. Intangible assets acquired in business combinations Certain intangible assets acquired in business combinations are classified as level 3, because fair value measurement is based on discounted cash flow methodologies using inputs that are unobservable in the market. Discounted cash flow methodologies use future cash flows, weighted average cost of capital (WACC) and others. 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, 2021 and 2022. March 31, 2021 Millions of Valuation technique(s) Significant unobservable inputs Range (Weighted average) Fair value Assets: Available-for-sale Japanese prefectural and foreign municipal bond securities ¥ 2,761 Appraisals/Broker quotes — — Corporate debt securities 1,021 Discounted cash flows Discount rate 0.3% – 1.8% (0.7%) Other asset-backed securities and debt securities 25,891 Discounted cash flows Discount rate 1.0% – 51.2% (11.1%) Probability of default 1.9% (1.9%) 103,784 Appraisals/Broker quotes — — Equity securities: Investment funds 78,134 Discounted cash flows WACC 13.1% – 18.7% (16.8%) EV/Terminal EBITDA multiple 7.3x – 10.5x (8.6x) Market multiples EV/Last twelve months EBITDA multiple 6.8x – 9.5x (7.8x) EV/Forward EBITDA multiple 7.6x – 11.6x (9.0x) EV/Precedent transaction last twelve months EBITDA multiple 7.7x – 10.9x (9.1x) 13,276 Appraisals/Broker quotes — — Derivative assets: Options held/written and other 13,762 Discounted cash flows Discount rate 12.0% – 33.0% (14.3%) 61 Appraisals/Broker quotes — — Other assets: Reinsurance recoverables 6,297 Discounted cash flows Discount rate 0.0% – 0.4% (0.1%) Mortality rate 0.0% – 100.0% (1.6%) Lapse rate 1.5% – 14.0% (6.7%) Annuitization rate (guaranteed minimum annuity benefit) 0.0% – 100.0% (100.0%) Total ¥ 244,987 March 31, 2021 Millions of Valuation technique(s) Significant unobservable inputs Range (Weighted average) Fair value Liabilities: Derivative liabilities: Options held/written and other ¥ 33 Appraisals/Broker quotes — — Policy liabilities and Policy Account Balances: Variable annuity and variable life insurance contracts 266,422 Discounted cash flows Discount rate 0.0% – 0.4% (0.1%) Mortality rate 0.0% – 100.0% (1.6%) Lapse rate 1.5% – 30.0% (6.9%) Annuitization rate (guaranteed minimum annuity benefit) 0.0% – 100.0% (76.7%) Total ¥ 266,455 March 31, 2022 Millions of Valuation technique(s) Significant unobservable inputs Range (Weighted average) Fair value Assets: Available-for-sale Japanese prefectural and foreign municipal bond securities ¥ 3,053 Appraisals/Broker quotes — — Corporate debt securities 697 Discounted cash flows Discount rate 0.4% – 0.7% (0.5%) Other asset-backed securities and debt securities 25,666 Discounted cash flows Discount rate 0.1% – 51.2% (10.6%) Probability of default 1.9% (1.9%) 111,644 Appraisals/Broker quotes — — Equity securities: Investment funds, and others 86,903 Discounted cash flows WACC 11.9% – 18.6% (16.3%) EV/Terminal EBITDA multiple 8.3x – 12.0x (9.9x) Market multiples EV/Last twelve months EBITDA multiple 6.4x – 12.6x (9.5x) EV/Forward EBITDA multiple 5.7x – 12.5x (9.4x) EV/Precedent transaction last twelve months EBITDA multiple 7.6x – 14.5x (10.3x) 26,069 Appraisals/Broker quotes — — Derivative assets: Options held/written and other 4,792 Discounted cash flows Discount rate 12.0% – 34.0% (14.9%) 68 Appraisals/Broker quotes — — Other assets: Reinsurance recoverables 5,214 Discounted cash flows Discount rate (0.2)% – 0.7% (0.2%) Mortality rate 0.0% – 100.0% (2.1%) Lapse rate 1.5% – 14.0% (5.5%) Annuitization rate (guaranteed minimum annuity benefit) 0.0% – 100.0% (100.0%) Total ¥ 264,106 Liabilities: Derivative liabilities: Options held/written and other 8,600 Discounted cash flows Discount rate 12.0% – 34.0% (14.9%) 32 Appraisals/Broker quotes — — Policy liabilities and Policy Account Balances: Variable annuity and variable life insurance contracts 198,905 Discounted cash flows Discount rate (0.2)% – 0.7% (0.2%) Mortality rate 0.0% – 100.0% (1.9%) Lapse rate 1.5% – 30.0% (6.2%) Annuitization rate (guaranteed minimum annuity benefit) 0.0% – 100.0% (71.8%) Total ¥ 207,537 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 fiscal 2021 and 2022. 2021 Millions of Valuation technique(s) Significant unobservable inputs Range (Weighted average) Fair value Assets: Real estate collateral-dependent loans (net of allowance for credit losses) ¥ 1,953 Direct capitalization Capitalization rate 5.1% – 7.0% (5.9%) 8,726 Appraisals — — Investment in operating leases and property under facility operations 4,934 Appraisals — — Certain equity securities 3,577 Appraisals — — Certain investments in affiliates 2,614 Appraisals — — Certain reporting units including goodwill 775 Market multiples EV/Precedent transaction last twelve months EBITDA multiple 5.5x (5.5x) ¥ 22,579 2022 Millions of Valuation technique(s) Significant unobservable inputs Range (Weighted average) Fair value Assets: Real estate collateral-dependent loans (net of allowance for credit losses) ¥ 1,511 Direct capitalization Capitalization rate 5.0% – 8.5% (6.1%) 5,461 Appraisals — — Investment in operating leases, property under facility operations, office facilities and other assets 32,328 Discounted cash flows Discount rate 5.2 ( 5.2 27,257 Appraisals — — Certain investments in affiliates 2,846 Appraisals — — Certain reporting units including goodwill 192 Discounted cash flows Discount rate 10.7% (10.7%) Certain intangible assets acquired in business combinations 98,014 Discounted cash flows Discount rate 10.9 ( 10.9 ¥ 167,609 The Company and its subsidiaries generally use discounted cash flow methodologies or similar internally developed models to determine the fair value of |
Acquisitions and Divestitures
Acquisitions and Divestitures | 12 Months Ended |
Mar. 31, 2022 | |
Business Combinations [Abstract] | |
Acquisitions and Divestitures | 3. Acquisitions and Divestitures (1) Acquisitions During fiscal 2020, the Company and its subsidiaries acquired entities for a total cost of the acquisition consideration of ¥190,119 million, which was paid mainly in cash. Goodwill initially recognized in these transactions amounted to ¥46,522 million and the goodwill is not deductible for income tax purposes. The amount of acquired intangible assets other than goodwill recognized in these transactions was ¥20,437 million. During fiscal 2021, the Company and its subsidiaries acquired entities for a total cost of the acquisition consideration of ¥104,197 million, which was paid mainly in cash. Goodwill initially recognized in these transactions amounted to ¥59,186 million and the goodwill is not deductible for income tax purposes. The amount of acquired intangible assets other than goodwill recognized in these transactions was ¥30,595 million. During fiscal 2022, the Company and its subsidiaries acquired entities for a total cost of the acquisition consideration of ¥99,239 million, which was paid mainly in cash. Goodwill initially recognized in these transactions amounted to ¥49,393 million and the goodwill is not deductible for income tax purposes. The amount of acquired intangible assets other than goodwill recognized in these transactions was ¥39,977 million. The Company reflected certain preliminary estimates with respect to the fair value of certain components of the underlying net assets of these entities in determining amounts of the goodwill. The amount of the goodwill and intangible assets could possibly be adjusted because for certain of these acquisitions, the purchase price allocations have not been completed yet with respect to the final valuation of acquired intangible assets among others. The acquisitions were mainly included in Environment and Energy segment. As a result of the reassessment of the provisional purchase price allocation during fiscal 2020, the Company recognized bargain purchase gains of ¥955 million associated with two of its acquisitions executed during fiscal 2019. The bargain purchase gains were included in Corporate Financial Services and Maintenance Leasing segment. As a result of the reassessment of the provisional purchase price allocation of wind power generation subsidiaries in India and another acquisition executed during fiscal 2020, the Company recognized bargain purchase gains of ¥4,966 million during fiscal 2021. The bargain purchase gains consisted of ¥601 million in PE Investment and Concession segment and ¥4,365 million in Environment and Energy segment. The Company did not recognize any bargain purchase gain during fiscal 2022. The segment in which goodwill is allocated is disclosed in Note 1 4 (2) Divestitures Gains on sales of subsidiaries and affiliates and liquidation losses, net for fiscal 2020, 2021 and 2022 amounted to ¥74,001 million, ¥23,300 million and ¥187,787 million, respectively. Gains on sales of subsidiaries and affiliates and liquidation losses, net for fiscal 2020 mainly consisted of ¥16,223 million in Real Estate segment, ¥18,127 million in PE Investment and Concession segment, ¥26,424 million in ORIX USA segment and ¥13,085 million in ORIX Europe segment. Gains on sales of subsidiaries and affiliates and liquidation losses, net for fiscal 2021 mainly consisted of ¥11,516 million in Environment and Energy segment, ¥4,261 million in ORIX USA segment and ¥6,604 million in Asia and Australia segment. Gains on sales of subsidiaries and affiliates and liquidation losses, net for fiscal 2022 mainly consisted of ¥163,775 million in Corporate Financial Services and Maintenance Leasing segment, ¥1,447 million in Environment and Energy segment, ¥15,815 million in ORIX USA segment and ¥6,715 million in Asia and Australia segment. During fiscal 2022, the Company sold the business of Yayoi, which was a consolidated subsidiary of the Company. The sale resulted in a gain of ¥163,016 million which was included in gains on sales of subsidiaries and affiliates and liquidation losses, net. A gain on the sale was included in Corporate Financial Services and Maintenance Leasing segment. Since April 1, 2020, the reportable segments have been reorganized. As a result of this change, the segment data of the previous fiscal year has been retrospectively restated. |
Revenues from Contracts with Cu
Revenues from Contracts with Customers | 12 Months Ended |
Mar. 31, 2022 | |
Revenue from Contract with Customer [Abstract] | |
Revenues from Contracts with Customers | 4. Revenues from Contracts with Customers The following table provides information about revenues from contracts with customers, and other sources of revenue in fiscal 2020, 2021 and 2022. Millions of yen 2020 2021 2022 Goods or services category Sales of goods ¥ 287,558 ¥ 321,883 ¥ 340,697 Real estate sales 118,953 89,070 94,700 Asset management and servicing 181,851 173,191 244,887 Automobile related services 77,987 72,000 76,772 Facilities operation 69,297 23,811 32,163 Environment and energy services 141,532 137,011 156,327 Real estate management and brokerage 104,110 101,942 100,304 Real estate contract work 88,966 80,179 92,999 Other 104,059 88,468 107,249 Total revenues from contracts with customers 1,174,313 1,087,555 1,246,098 Other revenues* 8,210 3,247 5,904 Total sales of goods and real estate and services income ¥ 1,182,523 ¥ 1,090,802 ¥ 1,252,002 * Other revenues are not in the scope of revenue from contracts with customers. The following table provides information about costs of goods sold and real estate sold and services expense in fiscal 2020, 2021 and 2022. Millions of yen 2020 2021 2022 Goods or services category Costs of goods sold ¥ 247,036 ¥ 272,657 ¥ 302,948 Costs of real estate sold 106,970 75,064 78,171 Asset management and servicing 37,808 42,145 56,810 Automobile related services 48,579 45,734 47,952 Facilities operation 66,163 41,461 46,515 Environment and energy services 110,899 105,246 122,426 Real estate management and brokerage 94,119 89,685 89,457 Real estate contract work 76,983 69,815 81,704 Other 49,363 45,147 50,246 Total expenses of costs of goods and real estate sold and services expenses ¥ 837,920 ¥ 786,954 ¥ 876,229 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. When a revenue transaction involves a third party, 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 32 “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, information system hardware and 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 condominium business. Revenues from sales 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 all of the benefits provided by the subsidiaries 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 all of the benefits provided by the subsidiaries 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 all of the benefits provided by the Company and its subsidiaries 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, a certain subsidiary receives 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 within the scope of revenue from contracts with customers because these gains refer to transfers of non-financial Environment and energy services The Company and its subsidiaries offer services that provide electric power to 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 all of the benefits provided by the Company and its subsidiaries 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 all of the benefits provided by the subsidiaries 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 others, to customers, as real estate management and brokerage business. Since customers simultaneously receive and consume all of the benefits provided by the Company and its subsidiaries 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 others, 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 a part of its performance obligations that it performs as contract assets, and the amounts are reported under other assets on the consolidated balance sheet. 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 information system hardware and 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 all of the benefits provided by the subsidiaries 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, 2021 and 2022. Millions of yen March 31, 2021 March 31, 2022 Trade Notes, Accounts and Other Receivable ¥ 180,828 ¥ 174,667 Contract assets (Included in Other Assets) 6,558 13,802 Contract liabilities (Included in Other Liabilities) 40,436 32,978 For fiscal 2021 and 2022, there were no significant changes in contract assets. For fiscal 2021, there were no significant changes in contract liabilities. For fiscal 2022, contract liabilities decreased due to deconsolidation of contract liabilities of ¥12,536 million related to maintenance service caused by the sale of the business of Yayoi. For fiscal 2021, revenue amounted to ¥30,367 million was included in contract liabilities as of March 31, 2020. For fiscal 2022, revenue amounted to ¥35,258 million was included in contract liabilities as of March 31, 2021. As of March 31, 2022, 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 ¥ 147,017 million. Remaining term for the obligations ranges up to 13 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. As of March 31, 2021 and 2022, assets recognized from the costs to obtain or fulfill contracts with customers were not material. |
Cash Flow Information
Cash Flow Information | 12 Months Ended |
Mar. 31, 2022 | |
Supplemental Cash Flow Elements [Abstract] | |
Cash Flow Information | 5. Cash Flow Information The following table provides information about Cash, Cash Equivalents and Restricted Cash which are included in the Company’s consolidated balance sheets as of March 31, 2021 and 2022, respectively. Millions of yen 2021 2022 Cash and Cash Equivalents ¥ 951,242 ¥ 954,827 Restricted Cash 128,333 136,985 Cash, Cash Equivalents and Restricted Cash ¥ 1,079,575 ¥ 1,091,812 Cash payments during fiscal 2020, 2021 and 2022 are as follows: Millions of yen 2020 2021 2022 Cash payments: Interest ¥ 99,788 ¥ 80,313 ¥ 65,965 Income taxes, net 124,236 76,292 83,030 The main non-cash In fiscal 2021 and 2022, real estate under operating leases of ¥75 million and ¥464 million, respectively, were recognized with the corresponding amounts of installment loans being derecognized as a result of acquiring real estate collateral. In fiscal 2020, 2021 and 2022, other assets of ¥29 million, ¥1 million and ¥6 million, respectively, were recognized with the corresponding amounts of installment loans being derecognized as a result of acquiring real estate collateral. In fiscal 2020, assets and liabilities decreased by ¥1,281 million and ¥33 million in the Company’s consolidated balance sheet due to deconsolidation of a subsidiary and certain VIEs which had been consolidated by certain subsidiaries. The derecognized assets mainly consist of investment in securities, and the derecognized liabilities mainly consist of other liabilities. In fiscal 2021, assets and liabilities decreased by ¥5,218 million and ¥18 million, in the Company’s consolidated balance sheet due to deconsolidation of a subsidiary and certain VIEs which had been consolidated by certain subsidiaries. The derecognized assets mainly consist of investment in securities, and the derecognized liabilities mainly consist of other liabilities. In fiscal 2022, assets and liabilities decreased by ¥13,378 million and ¥943 million in the Company’s consolidated balance sheet due to deconsolidation of a subsidiary and certain VIEs which had been consolidated by certain subsidiaries. The derecognized assets mainly consist of investment in securities, and the derecognized liabilities mainly consist of other liabilities. Derecognition of these assets and liabilities were not included in cash flows from investing activities or financing activities in the consolidated statements of cash flows because they did not involve cash transactions. ROU assets obtained in exchange for lease liabilities were not included in cash flows from investing activities or financing activities because they did not involve cash transactions. For further information, see Note 6 “Leases.” |
Leases
Leases | 12 Months Ended |
Mar. 31, 2022 | |
Leases [Abstract] | |
Leases | 6. Leases (1) Lessor 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. 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 A certain subsidiary is providing automobile related services, and applying practical expedients, to not separate non-lease non-lease Lease income for fiscal 2020, 2021 and 2022 are as follows: Millions of yen Fiscal Year ended Fiscal Year ended March 31, 2021 Fiscal Year ended March 31, 2022 Lease income – net investment in leases Interest income ¥ 72,663 ¥ 69,718 ¥ 73,379 Other 2,412 2,113 2,598 Lease income – operating leases* 430,665 397,065 450,454 Total lease income ¥ 505,740 ¥ 468,896 ¥ 526,431 * Gains from the disposition of real estate under operating leases included in operating lease revenues were ¥30,154 million, ¥15,459 million and ¥17,912 million, and gains from the disposition of operating lease assets other than real estate included in operating lease revenues were ¥20,918 million, ¥10,899 million and ¥22,236 million for fiscal 2020, 2021 and 2022, respectively. Lease income from net investment in leases is included in finance revenues in the consolidated statements of income. Gains and losses from the disposition of net investment in leases were not material for fiscal 2020, 2021 and 2022. Net investment in leases at March 31, 2021 and 2022 consists of the following: Millions of yen Millions of yen March 31, 2021 March 31, 2022 Lease receivables ¥ 998,050 ¥ 1,029,157 Unguaranteed residual value 29,245 27,361 Initial direct costs 2,223 1,455 Total ¥ 1,029,518 ¥ 1,057,973 Investment in operating leases at March 31, 2021 and 2022 consists of the following: Millions of yen 2021 2022 Transportation equipment ¥ 1,364,559 ¥ 1,438,621 Measuring and information-related equipment 307,010 326,680 Real estate 291,917 307,338 Other 43,507 71,935 2,006,993 2,144,574 Accumulated depreciation (741,022 ) (819,839 ) Net 1,265,971 1,324,735 Right-of-use 114,268 107,742 Accrued rental receivables 28,259 31,639 Allowance for doubtful receivables on operating leases (309 ) (914 ) Total ¥ 1,408,189 ¥ 1,463,202 Costs of operating leases include depreciation and various expenses (insurance, property tax and other). Depreciation and various expenses for fiscal 2020, 2021 and 2022 are as follows: Millions of yen 2020 2021 2022 Depreciation expenses ¥ 209,586 ¥ 217,212 ¥ 231,643 Various expenses 80,018 78,416 90,427 Total ¥ 289,604 ¥ 295,628 ¥ 322,070 Remaining lease receivables of net investment in leases (including residual value guarantees) range up to 27 years at March 31, 2022. Remaining lease receivables of the operating lease contracts range up to 59 years at March 31, 2022. At March 31, 2022, the amounts due in each of the next five years and thereafter are as follows: Millions of yen Years ending March 31, Net investment in leases Operating leases 2023 ¥ 442,235 ¥ 317,352 2024 287,329 197,240 2025 185,993 127,457 2026 107,983 74,731 2027 63,018 40,814 Thereafter 64,976 106,272 Total lease payments 1,151,534 ¥ 863,866 Less imputed interest (122,377 ) Total lease receivables ¥ 1,029,157 (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 determining 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 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 fiscal 2020, 2021 and 2022 are as follows: Millions of yen Millions of yen Millions of yen Year ended March 31, 2020 Year ended March 31, 2021 Year ended March 31, 2022 Finance lease cost Depreciation expenses of right-of-use ¥ 743 ¥ 359 ¥ 534 Interest expenses of lease liabilities 302 131 106 1,045 490 640 Operating lease cost 42,427 42,964 49,725 Short-term lease cost 2,633 3,347 3,034 Variable lease cost 948 230 65 Sublease income (3,688 ) (4,142 ) (3,192 ) Total ¥ 43,365 ¥ 42,889 ¥ 50,272 Supplemental cash flow information related to leases for fiscal 2020, 2021 and 2022 are as follows: Millions of yen Year Ended March 31, 2020 Finance leases Operating leases Cash paid for amounts included in the measurements of lease liabilities: Cash flows from operating activities ¥ 302 ¥ 44,610 Cash flows from financing activities 494 0 Right-of-use assets obtained in exchange for lease liabilities: ¥ 531 ¥ 39,775 Millions of yen Year Ended March 31, 2021 Finance leases Operating leases Cash paid for amounts included in the measurements of lease liabilities: Cash flows from operating activities ¥ 131 ¥ 41,680 Cash flows from financing activities 674 0 Right-of-use ¥ 228 ¥ 55,344 Millions of yen Year Ended March 31, 2022 Finance leases Operating leases Cash paid for amounts included in the measurements of lease liabilities: Cash flows from operating activities ¥ 106 ¥ 47,321 Cash flows from financing activities 878 0 Right-of-use ¥ 278 ¥ 37,816 Supplemental balance sheet information related to lessee leases at March 31, 2021 and 2022 are as follows: Millions of yen, except lease term and discount rate March 31, 2021 Finance leases Operating leases Investment in Operating Leases ¥ 257 ¥ 114,011 Property under Facility Operations 1,990 69,291 Office Facilities 487 108,717 Total right-of-use asse 2,734 292,019 Other Liabilities 3,417 289,890 Total lease liabiliti ¥ 3,417 ¥ 289,890 Weighted average remaining lease term 7years 12years Weighted average discount rate 4.4 % 1.1 % Millions of yen, except lease term and discount rate March 31, 2022 Finance leases Operating leases Investment in Operating Leases ¥ 4,955 ¥ 102,787 Property under Facility Operations 1,763 68,149 Office Facilities 375 104,157 Total right-of-use asse 7,093 275,093 Other Liabilities 7,698 275,199 Total lease liabiliti ¥ 7,698 ¥ 275,199 Weighted average remaining lease term 25years 11years Weighted average discount rate 2.5 % 1.1 % At March 31, 2022, 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 March 31, Finance leases Operating leases 2023 ¥ 827 ¥ 47,743 2024 783 38,185 2025 696 32,436 2026 383 29,374 2027 272 23,544 Thereafter 7,405 119,722 Total lease payments 10,366 291,004 Less imputed interest (2,668 ) (15,805 ) Total lease liabilities ¥ 7,698 ¥ 275,199 |
Installment Loans
Installment Loans | 12 Months Ended |
Mar. 31, 2022 | |
Receivables [Abstract] | |
Installment Loans | 7. Installment Loans The composition of installment loans by domicile and type of borrower at March 31, 2021 and 2022 is as follows: Millions of yen 2021 2022 Borrowers in Japan: Consumer— Real estate loans ¥ 1,995,031 ¥ 2,007,570 Card loans 188,547 173,687 Other 27,698 27,770 2,211,276 2,209,027 Corporate— Real estate companies 279,046 278,607 Non-recourse 47,956 74,085 Commercial, industrial and other companies 203,890 168,607 530,892 521,299 Millions of yen 2021 2022 Borrowers in overseas: Consumer— Real estate loans 75,890 105,860 Other 26,192 30,136 102,082 135,996 Corporate— Real estate companies 197,074 273,789 Non-recourse 113,129 80,918 Commercial, industrial companies and other 503,980 627,828 814,183 982,535 Purchased loans* 12,351 13,747 ¥ 3,670,784 ¥ 3,862,604 * 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. Generally, installment loans are made under agreements that require the borrower to provide collateral or guarantors. At March 31, 2022, the contractual maturities of installment loans (except purchased loans) for each of the next five years and thereafter are as follows: Years ending March 31, Millions of yen 2023 ¥ 577,336 2024 321,132 2025 346,923 2026 222,291 2027 209,707 Thereafter 2,171,468 Total ¥ 3,848,857 Revenues from installment loans which are included in finance revenues in the consolidated statements of income are ¥166,966 million, ¥169,401 million and ¥174,485 million for fiscal 2020, 2021 and 2022, respectively. 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 market value determined on an individual basis, except loans held for sale for which the fair value option was elected. A subsidiary elected the fair value option on its 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, 2021 and 2022 were ¥72,658 million and ¥155,680 million, respectively. There were ¥63,272 million and ¥151,601 million of loans held for sale as of March 31, 2021 and 2022, respectively, measured at fair value by electing the fair value option. Purchased loans acquired by the Company and its subsidiaries are generally 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 and characterized by extended period of non-performance When it is probable that the Company and its subsidiaries will be unable to collect all book value, the Company and its subsidiaries consider purchased loans impaired, and a valuation allowance for the excess amount of the book value over the estimated recoverable amount of the loans is provided. For most cases, the recoverable amount is estimated based on the collateral value. Changes in the allowance for uncollectible accounts relating to the purchased loans for fiscal 2020 are as follows: Millions of yen 2020 Beginning balance ¥ 3,186 Provision (Reversal) (24 ) Charge-offs (1,789 ) Recoveries 77 Other* 8 Ending balance ¥ 1,458 * Other includes foreign currency translation adjustments. For further information about allowance for credit losses for fiscal 2021 and 2022, see Note 9 of “Credit Quality of Financial Assets and the Allowance for Credit Losses”. |
Credit Quality of Financing Rec
Credit Quality of Financing Receivables and the Allowance for Credit Losses | 12 Months Ended |
Mar. 31, 2022 | |
Receivables [Abstract] | |
Credit Quality of Financing Receivables and the Allowance for Credit Losses | 8. 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 net investment in 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 for fiscal 2020: March 31, 2020 Millions of yen Loans Direct 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) 12,254 903 7,988 (24 ) 3,304 24,425 Charge-offs (13,723 ) (1 ) (6,548 ) (1,789 ) (2,859 ) (24,920 ) Recoveries 554 0 133 77 24 788 Other*2 262 (35 ) (877 ) 8 (826 ) (1,468 ) Ending balance ¥ 20,542 ¥ 1,786 ¥ 21,358 ¥ 1,458 ¥ 11,692 ¥ 56,836 Individually evaluated for impairment 3,602 228 8,950 667 0 13,447 Not individually evaluated for impairment 16,940 1,558 12,408 791 11,692 43,389 Financing receivables: Ending balance ¥ 2,171,139 ¥ 132,081 ¥ 1,296,854 ¥ 13,218 ¥ 1,080,964 ¥ 4,694,256 Individually evaluated for impairment 26,533 2,466 55,216 1,605 0 85,820 Not individually evaluated for impairment 2,144,606 129,615 1,241,638 11,613 1,080,964 4,608,436 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. 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 net investment in 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 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 real estate 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 fiscal 2020: March 31, 2020 Millions of yen Portfolio segment Class Average recorded investments in impaired loans * Interest income on impaired loans Interest on collected in cash Consumer borrowers ¥ 24,721 ¥ 446 ¥ 403 Real estate loans 5,077 141 137 Card loans 3,926 57 50 Other 15,718 248 216 Corporate borrowers 37,103 121 119 Non-recourse Japan 137 2 2 The Americas 2,954 0 0 Other than Non-recourse Real estate companies in Japan 1,621 30 30 Real estate companies in overseas 5,785 0 0 Commercial, industrial and other companies in Japan 6,754 76 75 Commercial, industrial and other companies in overseas 19,852 13 12 Purchased loans 3,108 139 139 Total ¥ 64,932 ¥ 706 ¥ 661 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 troubled debt restructurings of financing receivables that occurred during fiscal 2020: March 31, 2020 Millions of yen Portfolio segment Class Pre-modification outstanding recorded investment Post-modification outstanding recorded investment Consumer borrowers ¥ 12,041 ¥ 9,025 Real estate loans 19 17 Card loans 1,899 1,396 Other 10,123 7,612 Corporate borrowers 4,785 4,779 Non-recourse The Americas 751 751 Other than Non-recourse Commercial, industrial and other companies in overseas 4,034 4,028 Total ¥ 16,826 ¥ 13,804 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. As of March 31, 2020, due to the spread of the COVID-19, The following table provides information about financing receivables modified as troubled debt restructurings within the previous 12 months from March 31, 2020 and for which there was a payment default during fiscal 2020: March 31, 2020 Millions of yen Portfolio segment Class Recorded investment Consumer borrowers ¥ 1,687 Card loans 22 Other 1,665 Corporate borrowers 25 Other than Non-recourse Commercial, industrial other companies in overseas 25 Total ¥ 1,712 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. |
Credit Quality of Financial Ass
Credit Quality of Financial Assets and the Allowance for Credit Losses | 12 Months Ended |
Mar. 31, 2022 | |
Credit Loss [Abstract] | |
Credit Quality of Financial Assets and the Allowance for Credit Losses | 9. Credit Quality of Financial Assets and the Allowance for Credit Losses The Company and its subsidiaries provide the following information disaggregated by portfolio segment and class of financial assets. Allowance for credit losses Credit quality of financial assets • Credit quality indicators • Past-due • Non-accrual Information about troubled debt restructurings 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, net investment in leases and other financial assets measured at amortized cost. Classes of financial assets 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 financial assets. Classes of financial assets 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 for installment loans, net investment in leases and other financial assets measured at amortized cost for fiscal 2021 and 2022: Fiscal Year ended March 31, 2021 Millions of yen Beginning Cumulative 2016-13 Reclassification Balance at Provision Allowance of during the Charge- Recoveries Other*6 Ending Collective Individual Allowance for credit losses : Installment loans to consumer borrowers: Real estate loans Japan ¥ 3,112 ¥ 2,856 ¥ 0 ¥ 5,968 ¥ 390 ¥ 0 ¥ (495 ) ¥ 59 ¥ 0 ¥ 5,922 ¥ 5,354 ¥ 568 Overseas 128 (102 ) 0 26 412 0 0 1 31 470 470 0 Card loans Japan 3,785 12,146 0 15,931 (802 ) 0 (2,150 ) 6 (1 ) 12,984 12,283 701 Other Japan 12,735 (963 ) 0 11,772 5,875 0 (9,296 ) 8 0 8,359 5,616 2,743 Overseas 782 563 0 1,345 739 0 (1,754 ) 577 368 1,275 1,038 237 Installment loans to corporate borrowers: Non-recourse loans Japan 13 24 0 37 (5 ) 0 0 0 0 32 32 0 The Americas 1,773 1,577 0 3,350 43 0 0 0 57 3,450 3,218 232 Real estate companies Japan 983 46 0 1,029 (58 ) 0 (96 ) 25 1 901 621 280 Overseas 2,010 1,579 0 3,589 (1,502 ) 0 (570 ) 33 (11 ) 1,539 1,539 0 Commercial, industrial companies Japan 2,447 98 0 2,545 (27 ) 0 (592 ) 11 1 1,938 199 1,739 Overseas 14,769 9,002 0 23,771 10,410 0 (15,427 ) 18 (9 ) 18,763 13,013 5,750 Purchased loans*1 1,458 0 0 1,458 353 3,899 (4,040 ) 46 119 1,835 681 1,154 Net investment in leases: 11,692 3,550 0 15,242 3,285 0 (2,668 ) 10 653 16,522 13,267 3,255 Subtotal 55,687 30,376 0 86,063 19,113 3,899 (37,088 ) 794 1,209 73,990 57,331 16,659 Other financial assets measured at amortized cost*2 1,149 1,369 (312 ) 2,206 4,483 0 (344 ) 11 (351 ) 6,005 810 5,195 Total ¥ 56,836 ¥ 31,745 ¥ (312 ) ¥ 88,269 ¥ 23,596 ¥ 3,899 ¥ (37,432 ) ¥ 805 ¥ 858 ¥ 79,995 ¥ 58,141 ¥ 21,854 Fiscal Year ended March 31, 2022 Millions of yen Beginning Provision Allowance of during the Charge- offs*5 Recoveries Other*6 Ending Collective Individual Allowance for credit losses : Installment loans to consumer borrowers: Real estate loans Japan ¥ 5,922 ¥ 340 ¥ 0 ¥ (570 ) ¥ 24 ¥ 0 ¥ 5,716 ¥ 5,211 ¥ 505 Overseas 470 (34 ) 0 0 4 15 455 455 0 Card loans Japan 12,984 (1,301 ) 0 (1,669 ) 4 1 10,019 9,423 596 Other Japan 8,359 4,948 0 (8,114 ) 11 0 5,204 2,946 2,258 Overseas 1,275 300 0 (644 ) 0 174 1,105 961 144 Installment loans to corporate borrowers: Non-recourse loans Japan 32 49 0 0 0 0 81 81 0 The Americas 3,450 (1,035 ) 0 0 0 276 2,691 1,836 855 Real estate companies Japan 901 (204 ) 0 (109 ) 29 0 617 490 127 Overseas 1,539 (855 ) 0 (10 ) 0 61 735 735 0 Commercial, industrial companies Japan 1,938 93 0 (761 ) 67 0 1,337 505 832 Overseas 18,763 3,503 0 (6,185 ) 155 2,060 18,296 13,367 4,929 Purchased loans*1 1,835 (227 ) 2,210 (2,372 ) 114 15 1,575 608 967 Net investment in leases: 16,522 1,577 0 (2,802 ) 21 985 16,303 12,480 3,823 Subtotal 73,990 7,154 2,210 (23,236 ) 429 3,587 64,134 49,098 15,036 Other financial assets measured at amortized cost*2 6,005 2,662 0 (1,661 ) 45 231 7,282 562 6,720 Total ¥ 79,995 ¥ 9,816 ¥ 2,210 ¥ (24,897 ) ¥ 474 ¥ 3,818 ¥ 71,416 ¥ 49,660 ¥ 21,756 Notes: 1. Loans held for sale and policy loan receivables of an insurance entity are not scope to allowance for credit losses. 2. Held-to-maturity held-to-maturity non-accrual held-to-maturity *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. Due to the adoption of Credit Losses Standard, allowance of ¥176,714 million was recorded as credit loss gross-up charged-off. *2 The allowance for other financial assets measured at amortized cost includes the allowance for credit losses on financial receivables, such as loans to affiliates and accounts receivable. Other financial assets measured at amortized cost are mainly “Trade notes, accounts and other receivables”, and loans to affiliates included in “Investment in affiliates” on the consolidated balance sheets. *3 “Provision for credit losses” in the consolidated statements of income amounted to ¥16,021 million and ¥3,939 million for fiscal 2021 and 2022, respectively. “Allowance for credit losses” on the consolidated balance sheets amounted to ¥78,945 million and ¥69,459 million as of March 31, 2021 and 2022, respectively. The reconciliation between the above table and the amounts reported on the consolidated financial statements in fiscal 2021 and 2022 are as follows: Millions of yen 2021 2022 Provision Allowance Provision Allowance Net investment in leases ¥ 3,285 ¥ 16,522 ¥ 1,577 ¥ 16,303 Installment loans 15,828 57,468 5,577 47,831 Subtotal in the above table 19,113 73,990 7,154 64,134 Other financial assets measured at amortized cost 4,483 6,005 2,662 7,282 Total in the above table 23,596 79,995 9,816 71,416 Off-balance sheet credit exposures*3(a) (7,437 ) — (4,449 ) — Available-for-sale debt securities*3(b) 117 — 21 — Less: Loans to affiliates*3(c) (255 ) (1,050 ) (1,449 ) (1,957 ) Amount reported on the consolidated financial statements ¥ 16,021 ¥ 78,945 ¥ 3,939 ¥ 69,459 *3(a) The allowance for off-balance sheet credit exposure were ¥26,094 million and ¥22,120 million as of March 31, 2021 and 2022, respectively, and the amounts are recorded in “Other liabilities” on the consolidated balance sheets. For further information, see Note 31 “Commitments, Guarantees and Contingent Liabilities.” *3(b) The allowance for available-for-sale debt securities were ¥120 million and ¥153 million as of March 31, 2021 and 2022, respectively, and the amounts are recorded as a reduction in “Investments in securities” on the consolidated balance sheets. For further information, see Note 10 “Investment in Securities.” *3(c) The provision for credit losses on loans to affiliates were ¥255 million and ¥1,449 million during fiscal 2021 and 2022, respectively, and the amounts are recorded in “Equity in net income (loss) of affiliates” in the consolidated statements of income. The allowance for credit losses on loans to affiliates were ¥1,050 million and ¥1,957 million as of March 31, 2021 and 2022, respectively, and the amounts are recorded as a reduction in “Investments in affiliates” on the consolidated balance sheets. *4 The allowance for accrued lease payments for receivable from operating leases was reclassified to the investment in operating leases balance on April 1, 2020, due to the application of the Credit Losses Standard. * 5 Included in Charge-off *6 Other mainly includes foreign currency translation adjustments and increases or decreases in allowance due to consolidation or deconsolidation of subsidiaries. The following table provides information about purchased loans which were acquired for fiscal 2021 and 2022: Millions of yen Fiscal Year ended March 31, 2021 Fiscal Year ended March 31, 2022 Purchase price ¥ 2,705 ¥ 4,926 Allowance for credit losses at acquisition date 3,899 2,210 Discount or premium attributable to other factors 254 220 Par value ¥ 6,858 ¥ 7,356 The Company and its subsidiaries estimate an allowance for credit losses for all credit losses expected to occur in future over the remaining life of financial assets, and recognize the allowance adequately based on management judgement. In developing the allowance for credit losses, the Company and its subsidiaries consider, among other things, the following factors in collective assessment and individual assessment by each portfolio: • business characteristics and financial conditions of obligors; • prior charge-off • current delinquencies and delinquency trends; • value of underlying collateral and guarantees; and • current economic and business conditions and expected outlook in future. The Company and its subsidiaries manage credit risk using various indicators specific to the region, industry, and types of assets, in accordance with the group risk management policy. For credit transactions, the basic group policy is to obtain sufficient collateral and guarantees, and to diversify industries and borrowers, and the Company and its subsidiaries comprehensively evaluate and monitor the financial condition and cash flows of borrowers, underlying collateral and guarantees, and profitability. The Company and its subsidiaries also manage exposure to potentially high-risk markets by establishing appropriate credit limits through portfolio analysis. Due to the diversity of assets and risk indicators held by the Company and its subsidiaries, the Company and its subsidiaries monitor the credit quality indicators as performing and non-performing non-performing past-due non-performing When certain performing financial assets mainly have similar risk characteristics to other financial assets, the performing financial assets are collectively evaluated as a pool. On the contrary, when financial assets do not have similar risk characteristics to other financial assets, the financial assets are evaluated individually. Loans to consumer borrowers Loans to consumer borrowers mainly consist of real estate loans and card loans. The credit quality of real estate loans is affected by the cash flows derived from the property and its collateral value. The credit quality of card loans is affected by the repayment ability of customers such as customer credit standing or payment history. The Company and its subsidiaries use these factors to estimate the allowance for credit losses because they are reflected in the probability of default and loss given default in each portfolio. Loans to corporate borrowers Loans to corporate borrowers are classified into non-recourse non-recourse The credit quality of non-recourse Loans other than non-recourse The credit quality of real estate companies is affected by mainly Japanese and Americas real estate markets and trends. The credit quality of commercial, industrial and other companies, which consist of various industries, is affected mainly by broader financial and economic conditions and trends in Japan, the Americas and Asian countries. The allowance for credit losses for loans to corporate borrowers is estimated by considering, among others, debtors’ situation, as well as economic conditions and trends in its industries, the value of underlying collateral and guarantees, and probability of default and loss given default. Net investment in leases Net investment in leases consists of leases of various equipment types, including office equipment, industrial machinery, transportation equipment and real estate properties. The allowance for credit losses for net investment in leases is estimated based on the value of the underlying leased assets, debtors’ situation, economic conditions and trends in its industries, and probability of default and loss given default. In common with portfolio segments, the forecasted future economic indicators correlated with the prior charge-off charge-off COVID-19, On the other hand, for periods beyond which the Company and its subsidiaries are able to make or obtain reasonable and supportable forecasts of future economic indicators of the entire life of the financial asset, expected credit losses are estimated for the remaining life mainly using an appropriate reversion approach, mainly immediate reversion to historical credit loss information. There have been no significant changes during fiscal 2022 to methodologies and economic indicators used to estimate the allowance for Credit Losses. When non-performing non-performing In the individual assessment the allowance for credit losses is estimated individually based on the present value of expected future cash flows, the observable market price or the fair value of the collateral securing the financial receivables if the financial receivables are collateral-dependent. The collateral-dependent financial receivables are defined as the finance receivables, which a debtor would be in financial difficulty and the collection significantly depend on the collateral. These financial receivables are mainly non-recourse For non-recourse For purchased loans, their collection may decrease due to a decline in the real estate collateral value and debtors’ creditworthiness. Thus, the changes in these risks affect the amount of the allowance for credit losses. 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 origination years of financial assets as of March 31, 2021 and 2022. Card loans to consumer borrowers with a revolving repayment feature that cannot be classified into the origination year are excluded from the table. March 31, 2021 Millions of yen Portfolio segment Origination year (years ended March 31) Class Credit Quality 2021 2020 2019 2018 2017 Prior Total Consumer borrowers: Performing ¥ 371,914 ¥ 443,079 ¥ 332,461 ¥ 220,035 ¥ 223,814 ¥ 498,350 ¥ 2,089,653 Non-Performing 11,041 7,854 5,132 3,176 2,612 3,609 ¥ 33,424 Real estate loans Performing 362,832 431,483 327,967 217,380 223,540 498,080 ¥ 2,061,282 Non-Performing 96 735 1,598 1,683 2,068 3,459 ¥ 9,639 Other* Performing 9,082 11,596 4,494 2,655 274 270 ¥ 28,371 Non-Performing 10,945 7,119 3,534 1,493 544 150 ¥ 23,785 Corporate borrowers: Performing 341,346 378,732 207,214 124,889 71,400 97,113 ¥ 1,220,694 Non-Performing 6,972 12,215 6,594 7,266 4,110 10,709 ¥ 47,866 Non-recourse Japan Performing 6,637 24,428 5,283 2,802 0 8,806 ¥ 47,956 The Americas Performing 1,349 52,413 28,291 15,817 5,178 8,764 ¥ 111,812 Non-Performing 58 0 0 0 0 1,259 ¥ 1,317 Other than non-recourse Real estate companies in Japan Performing 103,982 62,274 35,065 28,743 25,487 21,753 ¥ 277,304 Non-Performing 70 252 192 0 690 538 ¥ 1,742 Real estate companies in overseas Performing 42,980 55,678 10,695 4,992 1,976 2,976 ¥ 119,297 Non-Performing 0 3,049 2,057 4,946 1,056 3,397 ¥ 14,505 Commercial, industrial and other companies in Japan Performing 78,281 41,166 30,116 12,746 11,798 18,664 ¥ 192,771 Non-Performing 1,210 3,865 205 878 82 1,022 ¥ 7,262 Commercial, industrial and other companies in overseas Performing 108,117 142,773 97,764 59,789 26,961 36,150 ¥ 471,554 Non-Performing 5,634 5,049 4,140 1,442 2,282 4,493 ¥ 23,040 Purchased loans: Performing 527 0 0 168 119 9,714 ¥ 10,528 Non-Performing 0 0 0 15 0 1,808 ¥ 1,823 March 31, 2021 Millions of yen Portfolio segment Origination year (years ended March 31) Class Credit Quality 2021 2020 2019 2018 2017 Prior Total Net investment in leases: Performing ¥ 333,190 ¥ 268,966 ¥ 171,040 ¥ 105,708 ¥ 62,977 ¥ 68,712 ¥ 1,010,593 Non-Performing 1,366 3,057 3,441 3,151 2,980 4,930 ¥ 18,925 Japan Performing 184,342 165,580 121,072 84,928 57,393 67,040 ¥ 680,355 Non-Performing 151 776 1,194 1,512 1,261 2,213 ¥ 7,107 Overseas Performing 148,848 103,386 49,968 20,780 5,584 1,672 ¥ 330,238 Non-Performing 1,215 2,281 2,247 1,639 1,719 2,717 ¥ 11,818 Other financial assets measured at amortized cost Performing 14,882 1,045 67 938 2,502 13,762 ¥ 33,196 Non-Performing 0 0 0 908 0 0 ¥ 908 Total (excluding revolving repayment card loans) Performing ¥ 1,061,859 ¥ 1,091,822 ¥ 710,782 ¥ 451,738 ¥ 360,812 ¥ 687,651 ¥ 4,364,664 Non-Performing ¥ 19,379 ¥ 23,126 ¥ 15,167 ¥ 14,516 ¥ 9,702 ¥ 21,056 ¥ 102,946 March 31, 2022 Millions of yen Portfolio segment Origination year (years ended March 31) Class Credit Quality 2022 2021 2020 2019 2018 Prior Total Consumer borrowers: Performing ¥ 322,924 ¥ 314,935 ¥ 387,988 ¥ 314,163 ¥ 202,309 ¥ 595,321 ¥ 2,137,640 Non-Performing 8,282 4,595 3,852 2,098 961 11,915 ¥ 31,703 Real estate loans Performing 302,695 309,893 382,612 311,959 198,974 594,612 ¥ 2,100,745 Non-Performing 26 94 489 380 222 11,474 ¥ 12,685 Other* Performing 20,229 5,042 5,376 2,204 3,335 709 ¥ 36,895 Non-Performing 8,256 4,501 3,363 1,718 739 441 ¥ 19,018 Corporate borrowers: Performing 487,433 188,634 283,950 127,128 96,851 111,640 ¥ 1,295,636 Non-Performing 412 3,184 4,138 4,747 14,562 21,000 ¥ 48,043 Non-recourse Japan Performing 26,991 6,686 24,244 5,256 2,750 8,158 ¥ 74,085 The Americas Performing 0 5,547 51,467 11,744 7,721 1,397 ¥ 77,876 Non-Performing 0 64 0 1,587 0 1,391 ¥ 3,042 Other than non-recourse Real estate companies in Japan Performing 102,719 48,420 37,845 28,727 24,481 34,111 ¥ 276,303 Non-Performing 0 245 938 71 0 1,050 ¥ 2,304 Real estate companies in overseas Performing 24,104 26,751 41,644 2,256 5,478 740 ¥ 100,973 Non-Performing 0 0 0 371 12,790 7,717 ¥ 20,878 Commercial, industrial and other companies in Japan Performing 75,273 24,808 26,748 13,746 6,457 13,806 ¥ 160,838 Non-Performing 156 457 1,392 124 392 773 ¥ 3,294 Commercial, industrial and other companies in overseas Performing 258,346 76,422 102,002 65,399 49,964 53,428 ¥ 605,561 Non-Performing 256 2,418 1,808 2,594 1,380 10,069 ¥ 18,525 Purchased loans: Performing 0 0 24 281 1,072 10,885 ¥ 12,262 Non-Performing 0 0 0 0 0 1,485 ¥ 1,485 Net investment in leases: Performing 328,428 249,106 190,125 113,190 77,683 80,217 ¥ 1,038,749 Non-Performing 2,608 2,899 3,474 2,787 2,178 5,278 ¥ 19,224 March 31, 2022 Millions of yen Portfolio segment Origination year (years ended March 31) Class Credit Quality 2022 2021 2020 2019 2018 Prior Total Japan Performing ¥ 119,538 ¥ 154,757 ¥ 133,589 ¥ 91,691 ¥ 68,087 ¥ 78,283 ¥ 645,945 Non-Performing 402 605 1,044 1,103 1,247 2,109 ¥ 6,510 Overseas Performing 208,890 94,349 56,536 21,499 9,596 1,934 ¥ 392,804 Non-Performing 2,206 2,294 2,430 1,684 931 3,169 ¥ 12,714 Other financial assets measured at amortized cost Performing 14,287 2,220 345 0 817 17,743 ¥ 35,412 Non-Performing 0 0 58 0 1,586 0 ¥ 1,644 Total (excluding revolving repayment card loans) Performing ¥ 1,153,072 ¥ 754,895 ¥ 862,432 ¥ 554,762 ¥ 378,732 ¥ 815,806 ¥ 4,519,699 Non-Performing ¥ 11,302 ¥ 10,678 ¥ 11,522 ¥ 9,632 ¥ 19,287 ¥ 39,678 ¥ 102,099 Note: Loans held for sale and policy loan receivables of an insurance entity are not included in the table above. * Other in loans to consumer borrowers includes claims receivable arising from payments on guarantee of consumer loans. For further information, see Note 3 1 Liabilities.” The information about card loans to consumer borrowers with a revolving repayment feature that cannot be classified into the origination year as of March 31, 2021 and 2022 are as follows: March 31, 2021 Millions of yen Portfolio segment Revolving repayment Modification of Total—revolving Total— origination year (excluding revolving repayment card Total— financial assets Credit quality Consumer borrowers: Performing ¥ 183,722 ¥ 0 ¥ 183,722 ¥ 4,364,664 ¥ 4,548,386 Non-Performing 1,132 3,693 4,825 102,946 ¥ 107,771 March 31, 2022 Millions of yen Portfolio segment Revolving repayment Modification of Total—revolving Total— origination year (excluding revolving repayment card Total— financial assets Credit quality Consumer borrowers: Performing ¥ 169,601 ¥ 0 ¥ 169,601 ¥ 4,519,699 ¥ 4,689,300 Non-Performing 671 3,415 4,086 102,099 ¥ 106,185 Of non-performing past-due non-performing The following table provides information about the past-due March 31, 2021 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 Consumer borrowers ¥ 4,553 ¥ 10,257 ¥ 14,810 ¥ 2,311,624 Real estate loans 1,375 2,515 3,890 2,070,921 Card loans 371 1,105 1,476 188,547 Other 2,807 6,637 9,444 52,156 Corporate borrowers 8,296 24,443 32,739 1,268,560 Non-recourse Japan 0 0 0 47,956 The Americas 5,193 1,316 6,509 113,129 Other than Non-recourse Real estate companies in Japan 144 778 922 279,046 Real estate companies in overseas 0 14,505 14,505 133,802 Commercial, industrial and other companies in Japan 592 1,993 2,585 200,033 Commercial, industrial and other companies in overseas 2,367 5,851 8,218 494,594 Net investment in leases 9,332 17,128 26,460 1,029,518 Japan 2,257 6,347 8,604 687,462 Overseas 7,075 10,781 17,856 342,056 Total ¥ 22,181 ¥ 51,828 ¥ 74,009 ¥ 4,609,702 March 31, 2022 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 Consumer borrowers ¥ 4,183 ¥ 5,637 ¥ 9,820 ¥ 2,343,030 Real estate loans 1,473 2,262 3,735 2,113,430 Card loans 371 503 874 173,687 Other 2,339 2,872 5,211 55,913 Corporate borrowers 20,840 31,935 52,775 1,343,679 Non-recourse Japan 0 0 0 74,085 The Americas 514 3,042 3,556 80,918 Other than Non-recourse Real estate companies in Japan 578 350 928 278,607 Real estate companies in overseas 16,113 20,879 36,992 121,851 Commercial, industrial and other companies in Japan 1,243 1,268 2,511 164,132 Commercial, industrial and other companies in overseas 2,392 6,396 8,788 624,086 Net investment in leases 9,322 17,746 27,068 1,057,973 Japan 2,252 5,782 8,034 652,455 Overseas 7,070 11,964 19,034 405,518 Total ¥ 34,345 ¥ 55,318 ¥ 89,663 ¥ 4,744,682 Note: Loans held for sale, policy loans receivable of an insurance entity and purchased loans are not included in the table above. In common with all classes, the Company and its subsidiaries consider financial assets as past-due past-due past-due past-due The following table provides information about non-accrual March 31, 2021 Millions of yen Beginning Ending Interest income Balance not Non-accrual Installment loans to consumer borrowers: Real estate loans Japan ¥ 2,469 ¥ 1,976 ¥ 194 ¥ 424 Overseas 0 570 0 268 Card loans Japan 2,114 1,115 50 0 Other Japan 8,611 5,970 275 44 Overseas 413 691 0 0 Installment loans to corporate borrowers: Non-recourse The Americas 2,466 10,148 0 0 Real estate companies Japan 586 778 30 509 Overseas 12,491 14,505 0 0 Commercial, industrial companies and other Japan 2,409 1,993 196 127 Overseas 26,670 26,396 3 9,936 Net investment in leases 15,346 17,166 0 0 Total ¥ 73,575 ¥ 81,308 ¥ 748 ¥ 11,308 March 31, 2022 Millions of yen Beginning Ending Interest income Balance not Non-accrual Installment loans to consumer borrowers: Real estate loans Japan ¥ 1,976 ¥ 1,824 ¥ 193 ¥ 21 Overseas 570 475 0 129 Card loans Japan 1,115 503 35 0 Other Japan 5,970 2,391 208 0 Overseas 691 519 0 39 Installment loans to corporate borrowers: Non-recourse The Americas 10,148 8,787 0 0 Real estate companies Japan 778 351 51 61 Overseas 14,505 20,879 0 0 Commercial, industrial companies and other Japan 1,993 1,267 91 28 Overseas 26,396 18,634 112 4,018 Net investment in leases 17,166 17,771 0 0 Total ¥ 81,308 ¥ 73,401 ¥ 690 ¥ 4,296 The Company and its subsidiaries suspend accruing interest 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 fiscal year ended March 31, 2021 and 2022: Fiscal Year ended March 31, 2021 Millions of yen Portfolio segment Class Pre-modification outstanding recorded investment Post-modification outstanding recorded investment Consumer borrowers ¥ 9,279 ¥ 6,727 Real estate loans 34 23 Card loans 1,677 1,261 Other 7,568 5,443 Corporate borrowers 14,723 13,049 Other than Non-recourse Real estate companies in overseas 111 111 Commercial, industrial and other companies in Japan 38 38 Commercial, industrial and other companies in overseas 14,574 12,900 Total ¥ 24,002 ¥ 19,776 Fiscal Year ended March 31, 2022 Millions of yen Portfolio segment Class Pre-modification outstanding recorded investment Post-modification outstanding recorded investment Consumer borrowers ¥ 8,761 ¥ 6,152 Real estate loans 15 6 Card loans 1,385 1,072 Other 7,361 5,074 Corporate borrowers 5,481 5,319 Other than Non-recourse Commercial, industrial and other companies in overseas 5,481 5,319 Total ¥ 14,242 ¥ 11,471 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 the investment as possible in troubled debt restructurings. For the debtors of all financing receivables, the Company and its subsidiaries offer concessions including an extension of the maturity date at an interest rate lower than the current market rate for a debt with similar risk characteristics. In addition, for the debtors of all financing receivables other than non-recourse In common with all portfolio segments, financing receivables modified as troubled debt restructurings are recognized as impaired and are individually evaluated for allowance for credit losses. 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 allowance for credit losses for the restructured receivables. For fiscal 2021 and 2022, while there are financial assets for which the payments were deferred other than those in the troubled debt restructuring stated above due to the spread of COVID-19, The following table provides information about financing receivables modified as troubled debt restructurings within the previous 12 months from March 31, 2021 and for which there was a payment default during the fiscal year ended March 31, 2021: Fiscal Year ended March 31, 2021 Millions of yen Portfolio segment Class Recorded investment Consumer borrowers ¥ 387 Card loans 36 Other 351 Corporate borrowers 752 Other than Non-recourse Commercial, industrial and other companies in overseas 752 Total ¥ 1,139 The following table provides information about financing receivables modified as troubled debt restructurings within the previous 12 months from March 31, 2022 and for which there was a payment default during the fiscal year ended March 31, 2022: Fiscal Year ended March 31, 2022 Millions of yen Portfolio segment Class Recorded investment Consumer borrowers ¥ 900 Real estate loans 4 Card loans 6 Other 890 Total ¥ 900 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 interest and may recognize additional allowance for credit losses as necessary for the defaulted financing receivables. As of March 31, 2021 and 2022, 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 ¥70 million and ¥162 million as of March 31, 2021 and 2022, respectively. |
Investment in Securities
Investment in Securities | 12 Months Ended |
Mar. 31, 2022 | |
Investments Schedule [Abstract] | |
Investment in Securities | 10. Investment in Securities Investment in securities as of March 31, 2021 and 2022 consists of the following: Millions of yen 2021 2022 Equity securities* ¥ 540,082 ¥ 560,643 Trading debt securities 2,654 2,503 Available-for-sale 2,003,917 2,174,891 Held-to-maturity 113,790 114,312 Total ¥ 2,660,443 ¥ 2,852,349 * The amount of assets under management of variable annuity and variable life insurance contracts included in equity securities were ¥249,830 million and ¥185,115 million as of March 31, 2021 and 2022, respectively. The amount of investment funds that are accounted for under the equity method included in equity securities were ¥82,420 million and ¥ 90,650 million as of March 31, 2021 and 2022, respectively. The amount of investment funds and others elected the fair value option included in equity securities were ¥4,940 million and ¥11,709 million as of March 31, 2021 and 2022, 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 23 “Gains on Investment Securities and Dividends” and Note 24 “Life Insurance Operations.” Net unrealized holding gains (losses) on equity securities held as of March 31, 2020, 2021 and 2022 were a loss of ¥19,910 million, gains of ¥83,643 million and ¥26,075 million for fiscal 2020, 2021 and 2022, respectively, which did not include net unrealized holding gains (losses) on both investment funds above mentioned. Equity securities include non-marketable Millions of yen March 31, 2021 Fiscal Year ended March 31, 2021 Carrying Accumulated Accumulated Impairments Upward Equity securities measured using the measurement alternative ¥ 47,460 ¥ (13,474 ) ¥ 350 ¥ (1,479 ) ¥ 232 Millions of yen March 31, 2022 Fiscal Year ended March 31, 2022 Carrying Accumulated Accumulated Impairments Upward Equity securities measured using the measurement alternative ¥ 58,723 ¥ (13,880 ) ¥ 401 ¥ (208 ) ¥ 163 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 March 31, 2020, 2021 and 2022 were gains of ¥491 million, ¥120 million and ¥213 million for fiscal 2020, 2021 and 2022, respectively. During fiscal 2020, 2021 and 2022, the Company and its subsidiaries sold available-for-sale available-for-sale Certain subsidiaries elected the fair value option for certain investments in investment funds, and others 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, 2021 and 2022, these investments were fair valued at ¥4,940 million and ¥11,709 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, 2021 Millions of yen Amortized cost Allowance Gross unrealized gains Gross unrealized losses Fair value Available-for-sale Japanese and foreign government bond securities ¥ 846,736 ¥ 0 ¥ 6,071 ¥ (31,649 ) ¥ 821,158 Japanese prefectural and foreign municipal bond securities 274,770 (120 ) 4,238 (2,612 ) 276,276 Corporate debt securities 742,862 0 10,125 (10,736 ) 742,251 CMBS and RMBS in the Americas 35,668 0 549 (1,760 ) 34,457 Other asset-backed securities and debt securities 126,731 0 4,308 (1,264 ) 129,775 2,026,767 (120 ) 25,291 (48,021 ) 2,003,917 Held-to-maturity Japanese government bond securities and other 113,790 0 25,342 0 139,132 ¥ 2,140,557 ¥ (120 ) ¥ 50,633 ¥ (48,021 ) ¥ 2,143,049 March 31, 2022 Millions of yen Amortized cost Allowance Gross unrealized gains Gross unrealized losses Fair value Available-for-sale Japanese and foreign government bond securities ¥ 905,004 ¥ 0 ¥ 5,178 ¥ (77,569 ) ¥ 832,613 Japanese prefectural and foreign municipal bond securities 333,449 (132 ) 2,482 (10,195 ) 325,604 Corporate debt securities 873,178 0 10,014 (33,632 ) 849,560 CMBS and RMBS in the Americas 29,349 0 112 (729 ) 28,732 Other asset-backed securities and debt securities 135,445 (21 ) 5,456 (2,498 ) 138,382 2,276,425 (153 ) 23,242 (124,623 ) 2,174,891 Held-to-maturity Japanese government bond securities and other 114,312 0 21,129 0 135,441 ¥ 2,390,737 ¥ (153 ) ¥ 44,371 ¥ (124,623 ) ¥ 2,310,332 The following table presents rollforwards of the allowance for credit losses for fiscal 2021 and 2022, respectively. Millions of yen Fiscal Year ended March 31, 2021 Foreign municipal bond Total Beginning ¥ 0 ¥ 0 Additions to the allowance for credit losses on available-for-sale 120 120 Ending ¥ 120 ¥ 120 * An increase from the effects of changes in foreign exchange rates of ¥3 million was included in additions to the allowance for credit losses on available-for-sale debt securities for fiscal 2021. Millions of yen Fiscal Year ended March 31, 2022 Foreign municipal bond Japanese other asset- Total Beginning ¥ 120 ¥ 0 ¥ 120 Additions to the allowance for credit losses on available-for-sale debt securities for which credit losses were not previously recorded 0 21 21 Increase (Decrease) from the effects of changes in foreign exchange rates 12 0 12 Ending ¥ 132 ¥ 21 ¥ 153 The following tables provide information about available-for-sale March 31, 2021 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 ¥ 475,023 ¥ (21,472 ) ¥ 264,105 ¥ (10,177 ) ¥ 739,128 ¥ (31,649 ) Japanese prefectural and foreign municipal bond securities 48,367 (519 ) 63,316 (2,213 ) 111,683 (2,732 ) Corporate debt securities 231,552 (5,798 ) 141,559 (4,938 ) 373,111 (10,736 ) CMBS and RMBS in the Americas 345 (6 ) 24,782 (1,754 ) 25,127 (1,760 ) Other asset-backed securities and debt securities 4,296 (112 ) 29,750 (1,152 ) 34,046 (1,264 ) ¥ 759,583 ¥ (27,907 ) ¥ 523,512 ¥ (20,234 ) ¥ 1,283,095 ¥ (48,141 ) March 31, 2022 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 ¥ 217,457 ¥ (16,117 ) ¥ 521,633 ¥ (61,452 ) ¥ 739,090 ¥ (77,569 ) Japanese prefectural and foreign municipal bond securities 190,081 (6,509 ) 46,391 (3,818 ) 236,472 (10,327 ) Corporate debt securities 373,506 (19,340 ) 156,687 (14,292 ) 530,193 (33,632 ) CMBS and RMBS in the Americas 6,458 (98 ) 17,542 (631 ) 24,000 (729 ) Other asset-backed securities and debt securities 66,543 (995 ) 37,432 (1,524 ) 103,975 (2,519 ) ¥ 854,045 ¥ (43,059 ) ¥ 779,685 ¥ (81,717 ) ¥ 1,633,730 ¥ (124,776 ) The following table provides information about available-for-sale March 31, 2021 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 ¥ 475,023 ¥ (21,472 ) ¥ 264,105 ¥ (10,177 ) ¥ 739,128 ¥ (31,649 ) Japanese prefectural and foreign municipal bond securities 45,486 (399 ) 63,316 (2,213 ) 108,802 (2,612 ) Corporate debt securities 231,552 (5,798 ) 141,559 (4,938 ) 373,111 (10,736 ) CMBS and RMBS in the Americas 345 (6 ) 24,782 (1,754 ) 25,127 (1,760 ) Other asset-backed securities and debt securities 4,296 (112 ) 29,750 (1,152 ) 34,046 (1,264 ) ¥ 756,702 ¥ (27,787 ) ¥ 523,512 ¥ (20,234 ) ¥ 1,280,214 ¥ (48,021 ) March 31, 2022 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 ¥ 217,457 ¥ (16,117 ) ¥ 521,633 ¥ (61,452 ) ¥ 739,090 ¥ (77,569 ) Japanese prefectural and foreign municipal bond securities 190,081 (6,509 ) 43,338 (3,686 ) 233,419 (10,195 ) Corporate debt securities 373,506 (19,340 ) 156,687 (14,292 ) 530,193 (33,632 ) CMBS and RMBS in the Americas 6,458 (98 ) 17,542 (631 ) 24,000 (729 ) Other asset-backed securities and debt securities 66,489 (974 ) 37,432 (1,524 ) 103,921 (2,498 ) ¥ 853,991 ¥ (43,038 ) ¥ 776,632 ¥ (81,585 ) ¥ 1,630,623 ¥ (124,623 ) The number of investment securities that were in an unrealized loss position as of March 31, 2021 and 2022 were 638 and 963, respectively. The gross unrealized losses on these debt securities are attributable to a number of factors including changes in interest rates, credit spreads and market trends. As of March 31, 2021 and 2022, the amount of accrued revenues on available-for-sale debt securities were ¥ million and ¥ million, respectively, which was included in other assets. The Company and its allowance for credit losses for accrued interest receivables as of March 31, 2022. For available-for-sale non-credit written-off Credit losses related to available-for-sale asset-backed available-for-sale Unrealized losses on available-for-sale available-for-sale There were no other-than-temporary impairment losses recognized in other comprehensive income (loss) and earnings for fiscal 2020. For available-for-sale Millions of yen 2020 Beginning ¥ 2,102 Addition (Reduction) during the period 0 Ending ¥ 2,102 In addition, the non-credit available-for-sale available-for-sale available-for-sale The following is a summary of the contractual maturities of available-for-sale held-to-maturity Available-for-sale Millions of yen Amortized cost Fair value Due within one year ¥ 40,955 ¥ 41,178 Due after one to five years 356,995 361,532 Due after five to ten years 477,735 472,733 Due after ten years 1,400,740 1,299,448 ¥ 2,276,425 ¥ 2,174,891 Held-to-maturity Millions of yen Amortized cost Fair value Due after five to ten years ¥ 17,281 ¥ 19,775 Due after ten years 97,031 115,666 ¥ 114,312 ¥ 135,441 Debt securities not due at a single maturity date, such as mortgage-backed securities, are included in the above table based on their final maturities. Certain borrowers may have the right to call or prepay obligations. This right may cause actual maturities to differ from the contractual maturities summarized above. Included in finance revenues in the consolidated statements of income is interest income on investment securities of ¥13,657 million, ¥11,870 million and ¥12,737 million for fiscal 2020, 2021 and 2022, respectively. There were no available-for-sale |
Transfer of Financial Assets
Transfer of Financial Assets | 12 Months Ended |
Mar. 31, 2022 | |
Transfers and Servicing [Abstract] | |
Transfer of Financial Assets | 11. 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. During fiscal 2020, 2021 and 2022, the amount of installment loans that has been derecognized due to new securitization and transfer of loans were ¥ million, ¥ million and ¥ million, respectively. For fiscal 2020, 2021 and 2022, gains (losses) from the securitization and transfer of loans were ¥ million, ¥ million and ¥ 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 during fiscal 2021 and 2022 are as follows: Millions of yen 2021 2022 Beginning balance ¥ 57,705 ¥ 63,754 Increase mainly from loans sold with servicing retained 17,434 13,285 Decrease mainly from amortization (12,597 ) (13,518 ) Increase from the effects of changes in foreign exchange rates 1,212 6,733 Ending balance ¥ 63,754 ¥ 70,254 The fair value of the servicing assets as of March 31, 2021 and 2022 are as follows: Millions of yen March 31, 2021 March 31, 2022 Beginning balance ¥ 60,419 ¥ 74,135 Ending balance ¥ 74,135 ¥ 83,732 |
Variable Interest Entities
Variable Interest Entities | 12 Months Ended |
Mar. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Variable Interest Entities | 12. 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, 2021 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 1,996 0 0 0 (c) VIEs for acquisition of real estate for the Company and its subsidiaries’ real estate-related business 63,935 12,977 17,923 3,720 (d) VIEs for corporate rehabilitation support business 431 158 0 0 (e) VIEs for investment in securities 104,364 316 35 25,299 (f) VIEs for securitizing financial assets such as finance lease receivable and loan receivable 266,662 158,620 266,662 828 (g) VIEs for securitization of loan receivable originated by third parties 511 992 511 0 (h) VIEs for power generation projects 304,064 226,224 285,149 35,194 (i) Other VIEs 171,344 67,346 144,260 0 Total ¥ 913,307 ¥ 466,633 ¥ 714,540 ¥ 65,041 March 31, 2022 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 1,988 0 0 0 (c) VIEs for acquisition of real estate for the Company and its subsidiaries’ real estate-related business 60,762 12,576 16,241 0 (d) VIEs for corporate rehabilitation support business 214 5 0 0 (e) VIEs for investment in securities 132,805 302 0 45,241 (f) VIEs for securitizing financial assets such as finance lease receivable and loan receivable 223,807 160,434 223,807 0 (g) VIEs for securitization of loan receivable originated by third parties 542 1,093 542 0 (h) VIEs for power generation projects 278,660 219,476 260,551 42,742 (i) Other VIEs 199,186 89,672 174,807 0 Total ¥ 897,964 ¥ 483,558 ¥ 675,948 ¥ 87,983 *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, 2021 Millions of yen Carrying amount of the Types of VIEs Total assets Non-recourse Investments Maximum exposure to loss * (a) VIEs for liquidating customer assets ¥ 27,273 ¥ 1,255 ¥ 991 ¥ 2,246 (b) VIEs for acquisition of real estate and real estate development projects for customers 317,027 6,905 4,884 11,789 (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 4,108,847 0 56,818 75,607 (f) VIEs for securitizing financial assets such as finance lease receivable and loan receivable 709 0 2 2 (g) VIEs for securitization of loan receivable originated by third parties 1,485,653 0 18,268 18,271 (h) VIEs for power generation projects 10,103 0 442 442 (i) Other VIEs 370,516 2,845 10,101 12,946 Total ¥ 6,320,128 ¥ 11,005 ¥ 91,506 ¥ 121,303 March 31, 2022 Millions of yen Carrying amount of the Types of VIEs Total assets Non-recourse Investments Maximum exposure to loss * (a) VIEs for liquidating customer assets ¥ 13,391 ¥ 405 ¥ 991 ¥ 1,396 (b) VIEs for acquisition of real estate and real estate development projects for customers 546,953 8,134 9,119 18,735 (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 6,901,686 0 79,050 123,674 (f) VIEs for securitizing financial assets such as finance lease receivable and loan receivable 154 0 2 2 (g) VIEs for securitization of loan receivable originated by third parties 1,231,246 0 15,254 15,254 (h) VIEs for power generation projects 9,103 0 402 402 (i) Other VIEs 914,801 3,140 15,098 32,123 Total ¥ 9,617,334 ¥ 11,679 ¥ 119,916 ¥ 191,586 * 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 non-recourse With respect to variable interests of non-consolidated non-recourse (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. With respect to variable interests of non-consolidated non-recourse (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 short-term debt, 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 have the majority of the investment share of them, and have 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. 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 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 loan 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 and installment loans, and liabilities of those consolidated VIEs are mainly included in long-term debt. Variable interests of non-consolidated (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 (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 and coal-biomass co-fired power plants 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 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 way 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. non-consolidated non-recourse non-consolidated |
Investment in Affiliates
Investment in Affiliates | 12 Months Ended |
Mar. 31, 2022 | |
Investments in and Advances to Affiliates [Abstract] | |
Investment in Affiliates | 13. Investment in Affiliates Investment in affiliates at March 31, 2021 and 2022 consists of the following: Millions of yen 2021 2022 Shares ¥ 853,937 ¥ 943,090 Loans and others 33,827 34,943 ¥ 887,764 ¥ 978,033 Certain affiliates are listed on stock exchanges. The aggregate investment in and quoted market value of those affiliates amounted to ¥136,755 million and ¥169,928 million, respectively, as of March 31, 2021 and ¥166,492 million and ¥223,834 million, respectively, as of March 31, 2022. In fiscal 2020, 2021 and 2022, the Company and its subsidiaries received dividends from affiliates of ¥38,372 million, ¥15,416 million and ¥17,759 million, respectively. In the Company’s consolidated balance sheets, the book value of investment in affiliates over the underlying equity in the net assets of such affiliates as of date of the most recent available financial statements of the investees were ¥131,600 million and ¥135,897 million as of March 31, 2021 and 2022, respectively. The basis differences mainly consist of goodwill and fair value adjustments for fixed assets. The basis differences would be amortized and adjusted for impairment, if any, and the changes in the differences are included in equity in net income (loss) Companies comprising a significant portion of investment in affiliates were Avolon Holdings Limited (30% of equity share) and Kansai Airports (40% of equity share) as of March 31, 2021 and 2022. Combined and condensed information relating to the affiliates for fiscal 2020, 2021 and 2022 are as follows (some operation data for entities reflect only the period since the Company and its subsidiaries made the investment and on a lag basis): Millions of yen 2020 2021 2022 Operations: Total revenues ¥ 1,674,184 ¥ 1,155,974 ¥ 1,194,172 Income before income taxes 206,637 85,667 108,065 Net income 140,540 74,008 88,572 Financial position: Total assets ¥ 12,499,794 ¥ 12,858,129 ¥ 14,974,191 Total liabilities 8,428,007 9,203,980 10,729,973 Total equity 4,071,787 3,654,149 4,244,218 The Company and its subsidiaries had no significant transactions with these companies except as described above. |
Goodwill and Other Intangible A
Goodwill and Other Intangible Assets | 12 Months Ended |
Mar. 31, 2022 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Other Intangible Assets | 14. Goodwill and Other Intangible Assets Changes in goodwill by reportable segment for fiscal 2020, 2021 and 2022 are as follows: Millions of yen Corporate Financial Services and Maintenance Leasing Real PE Investment and Concession Environment and Energy Insurance Banking Credit Balance at March 31, 2019 Goodwill ¥ 65,566 ¥ 16,470 ¥ 88,855 ¥ 183 ¥ 4,452 ¥ 10,971 Accumulated impairment losses (837 ) 0 0 (39 ) 0 0 64,729 16,470 88,855 144 4,452 10,971 Acquired 1,299 0 22,772 3,933 672 0 Impairment 0 0 0 0 0 0 Other (net)* 0 (111 ) (22,172 ) 0 0 0 Balance at March 31, 2020 Goodwill 66,865 16,359 89,455 4,116 5,124 10,971 Accumulated impairment losses (837 ) 0 0 (39 ) 0 0 66,028 16,359 89,455 4,077 5,124 10,971 Acquired 478 0 47,011 0 0 0 Impairment (12 ) 0 0 0 0 0 Other (net)* 7 0 (14,002 ) (3,933 ) (109 ) 0 Balance at March 31, 2021 Goodwill 67,350 16,359 122,464 183 5,015 10,971 Accumulated impairment losses (849 ) 0 0 (39 ) 0 0 66,501 16,359 122,464 144 5,015 10,971 Acquired 0 0 0 49,115 0 0 Impairment 0 (191 ) 0 0 (371 ) 0 Other (net)* (54,925 ) 0 (22,526 ) 357 0 0 Balance at March 31, 2022 Goodwill 12,425 16,359 99,938 49,655 5,015 10,971 Accumulated impairment losses (849 ) (191 ) 0 (39 ) (371 ) 0 ¥ 11,576 ¥ 16,168 ¥ 99,938 ¥ 49,616 ¥ 4,644 ¥ 10,971 Millions of yen Aircraft and Ships ORIX USA ORIX Europe Asia and Australia Corporate Total Balance at March 31, 2019 Goodwill ¥ 587 ¥ 113,801 ¥ 126,131 ¥ 7,911 ¥ 0 ¥ 434,927 Accumulated impairment losses (587 ) 0 0 (2,785 ) 0 (4,248 ) 0 113,801 126,131 5,126 0 430,679 Acquired 0 17,846 0 0 0 46,522 Impairment 0 0 0 0 0 0 Other (net)* 0 (2,401 ) (8,178 ) (521 ) 0 (33,383 ) Balance at March 31, 2020 Goodwill 587 129,246 117,953 7,390 0 448,066 Accumulated impairment losses (587 ) 0 0 (2,785 ) 0 (4,248 ) 0 129,246 117,953 4,605 0 443,818 Acquired 0 0 11,697 0 0 59,186 Impairment 0 (1,494 ) 0 0 0 (1,506 ) Other (net)* 0 566 10,847 402 0 (6,222 ) Balance at March 31, 2021 Goodwill 587 129,812 140,497 7,792 0 501,030 Accumulated impairment losses (587 ) (1,494 ) 0 (2,785 ) 0 (5,754 ) 0 128,318 140,497 5,007 0 495,276 Acquired 0 0 0 0 278 49,393 Impairment 0 0 0 0 0 (562 ) Other (net)* 0 12,682 8,773 388 0 (55,251 ) Balance at March 31, 2022 Goodwill 587 142,494 149,270 8,180 278 495,172 Accumulated impairment losses (587 ) (1,494 ) 0 (2,785 ) 0 (6,316 ) ¥ 0 ¥ 141,000 ¥ 149,270 ¥ 5,395 ¥ 278 ¥ 488,856 * Other includes foreign currency translation adjustments, decreases due to sale of ownership interest in subsidiaries and certain other reclassifications. As a result of the impairment test, the Company and its subsidiaries recognized no impairment losses on goodwill during fiscal 2020. The Company and its subsidiaries recognized impairment losses on goodwill of ¥12 million in Corporate Financial Services and Maintenance Leasing segment, and ¥1,494 million in ORIX USA segment during fiscal 2021. The Company and its subsidiaries recognized impairment losses on goodwill of ¥191 million in Real Estate segment, and ¥371 million in Insurance segment during fiscal 2022. These impairment losses are accounted in other (income) and expense. The fair values of these reporting units were measured using mainly discounted cash flow methodologies and business enterprise value multiples methodologies. Other intangible assets at March 31, 2021 and 2022 consist of the following: Millions of yen 2021 2022 Indefinite-lived intangible assets: Trade names ¥ 67,888 ¥ 44,975 Asset management contracts 161,081 48,533 Others 5,312 12,126 234,281 105,634 Intangible assets subject to amortization: Software 129,695 130,118 Customer relationships 155,807 143,963 Asset management contracts 0 98,014 Others 90,354 123,397 375,856 495,492 Accumulated amortization (184,589 ) (197,505 ) Net 191,267 297,987 ¥ 425,548 ¥ 403,621 The aggregate amortization expenses for intangible assets are ¥32,189 million, ¥28,748 million and ¥32,235 million in fiscal 2020, 2021 and 2022, respectively. The estimated amortization expenses for each of five succeeding fiscal years are ¥33,959 million in fiscal 2023, ¥30,205 million in fiscal 2024, ¥27,181 million in fiscal 2025, ¥23,182 million in fiscal 2026 and ¥19,565 million in fiscal 2027, respectively. Intangible assets subject to amortization increased during fiscal 2022 are ¥154,949 million. They mainly consist of ¥13,345 million of software , million of customer relationships and others recognized in acquisitions, and ¥98,014 million for asset management contracts that were transferred due to their useful lives being defined. The weighted average amortization periods for the software, customer relationships and others recognized in acquisitions and asset management contracts ar e 8 year s , 24 years and 20 years, respectively. As a result of the impairment test, the Company and its subsidiaries recognized impairment losses of ¥329 million on intangible assets included in Corporate Financial Services and Maintenance Leasing segment during fiscal 2020. The Company and its subsidiaries recognized impairment losses of ¥2 million on intangible assets included in Corporate Financial Services and Maintenance Leasing segment, ¥217 million on intangible assets included in Real Estate segment, ¥4 million on intangible assets included in PE Investment and Concession segment, ¥2 million on intangible assets included in Environment and Energy segment, ¥2 million on intangible assets included in Insurance segment, ¥505 million on intangible assets included in Aircraft and Ships segment, and ¥414 million on intangible assets included in ORIX USA segment during fiscal 2021. The Company and its subsidiaries recognized impairment losses of ¥650 million on intangible assets included in Corporate Financial Services and Maintenance Leasing segment, ¥259 million on intangible assets included in Aircraft and Ships segment, and ¥21,090 million on intangible assets included in ORIX Europe segment during fiscal 2022. The impairment losses for fiscal 2020 are included in selling, general and administrative expenses in the consolidated statements of income, and the impairment losses for fiscal 2021 and 2022 are included in other (income) and expense in the consolidated statements of income. These impairment losses are recognized due to |
Short-Term and Long-Term Debt
Short-Term and Long-Term Debt | 12 Months Ended |
Mar. 31, 2022 | |
Debt Disclosure [Abstract] | |
Short-Term and Long-Term Debt | 15. Short-Term and Long-Term Debt Short-term debt consists of borrowings from financial institutions and commercial paper. The composition of short-term debt and the weighted average contract interest rate on short-term debt at March 31, 2021 and 2022 are as follows: March 31, 2021 Millions of yen Weighted average rate Short-term debt in Japan, mainly from banks ¥ 81,726 0.3 % Short-term debt outside Japan, mainly from banks 209,852 1.9 Medium-term note outside Japan 1,336 3.0 Commercial paper in Japan 12,999 0.0 Commercial paper outside Japan 1,356 1.0 ¥ 307,269 1.4 March 31, 2022 Millions of yen Weighted average rate Short-term debt in Japan, mainly from banks ¥ 161,799 0.7 % Short-term debt outside Japan, mainly from banks 237,790 2.1 Commercial paper in Japan 37,999 0.0 Commercial paper outside Japan 2,051 1.0 ¥ 439,639 1.4 The composition of long-term debt, the weighted average contract interest rate on long-term debt and the repayment due dates at March 31, 2021 and 2022 are as follows: March 31, 2021 Due (Fiscal Year) Millions of yen Weighted average rate Banks: Fixed rate 2022~2037 ¥ 519,858 1.2 % Floating rate 2022~2077 2,038,098 0.8 Insurance companies and others: Fixed rate 2023~2039 328,790 0.8 Floating rate 2023~2077 302,337 0.6 Unsecured bonds 2023~2081 927,088 1.5 Unsecured notes under medium-term note program 2023~2027 141,296 3.1 Payables under securitized loan receivables and investment in securities 2022~2043 159,366 3.2 ¥ 4,416,833 1.1 March 31, 2022 Due (Fiscal Year) Millions of yen Weighted average rate Banks: Fixed rate 2023~2082 ¥ 545,320 1.3 % Floating rate 2023~2077 2,076,802 1.1 Insurance companies and others: Fixed rate 2023~2082 322,411 0.8 Floating rate 2023~2077 296,230 0.8 Unsecured bonds 2024~2081 997,654 1.6 Unsecured notes under medium-term note program 2023~2027 32,279 4.1 Payables under securitized loan receivables and investment in securities 2033~2043 156,350 3.1 ¥ 4,427,046 1.3 The repayment schedule for the next five years and thereafter for long-term debt at March 31, 2022 is as follows: Years ending March 31, Millions of yen 2023 ¥ 752,828 2024 764,765 2025 610,035 2026 439,680 2027 469,840 Thereafter 1,389,898 Total ¥ 4,427,046 Borrowings with fixed rate from banks, insurance companies and others as of March 31, 2022 include the amount o f ¥10,000 million of subordinated syndicated loan (hybrid loan) that was executed in fiscal 2022, will mature in fisca l 2082 and may be redeemed after 5 years from the execution. Borrowings with floating rate from banks, insurance companies and others as of March 31, 2022 include the amount of ¥34,000 million of subordinated syndicated loan (hybrid loan) that was executed in fiscal 2017, will mature in fisc al 2077 and may be redeemed after 7 years from the execution. Unsecured bonds include the amount of ¥150,000 million of unsecured subordinated bonds with interest payment deferrable clauses and optional early redemption conditions (hybrid bonds). Out of this amount, ¥100,000 million was executed in fiscal 2020, and will mature in fiscal 2080, of which ¥60,000 million and ¥40,000 million may be redeemed after 5 years, and 10 years from the e xecution, years from the execution, respectively. For borrowings from banks, insurance companies and other financial institutions, for bonds, and for medium-term notes, principal repayments are made upon maturity of the loan contracts and interest payments are usually paid semi-annually. During fiscal 2020, 2021 and 2022, the Company and certain subsidiaries recognized net amortization expenses of premiums and discounts of bonds and medium-term notes, and deferred issuance costs of bonds and medium-term notes in the amount of ¥989 million, ¥1,010 million and ¥1,013 million, respectively. Total committed credit lines for the Company and its subsidiaries were ¥612,737 million and ¥651,379 million at March 31, 2021 and 2022, respectively, and, of these lines, ¥524,451 million and ¥507,181 million were available at March 31, 2021 and 2022, respectively. Of the available committed credit lines, ¥465,104 million and ¥442,547 million were long-term committed credit lines at March 31, 2021 and 2022, respectively. The agreements related to debt payable to banks provide that the banks under certain circumstances may request additional security for loans and have the right to offset cash deposited against any short-term or long-term debt that becomes due and, in case of default and certain other specified events, against all other debt payable to the banks. Other than the assets of the consolidated VIEs pledged as collateral for financing (see Note 12 “Variable Interest Entities”), the Company and certain subsidiaries provide the following assets as collateral for the short-term and long-term debt payables to financial institutions as of March 31, 2022: Millions of yen Lease payments, loans and investment in operating leases ¥ 106,699 Investment in securities 175,912 Property under facility operations 112,730 Other assets and other 27,784 ¥ 423,125 As of March 31, 2022, debt liabilities were secured by shares of subsidiaries of ¥147,428 million, which were eliminated through consolidation adjustment, and debt liabilities of affiliates were secured by investment in affiliates of ¥38,399 million. As of March 31, 2022, debt liabilities were secured by loans to subsidiaries, which were eliminated through consolidation adjustment, of ¥10,531 million. In addition, ¥74,334 million was pledged primarily by investment in securities for collateral deposits and deposits for real estate transaction as of March 31, 2022. 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 March 31, 2022. |
Deposits
Deposits | 12 Months Ended |
Mar. 31, 2022 | |
Deposits [Abstract] | |
Deposits | 16. Deposits Deposits at March 31, 2021 and 2022 consist of the following: Millions of yen 2021 2022 Time deposits ¥ 1,860,253 ¥ 1,876,129 Other deposits 457,532 400,029 Total ¥ 2,317,785 ¥ 2,276,158 The balances of time deposits and certificates of deposit issued in amounts of ¥10 million or more were ¥1,012,834 million and ¥920,545 million at March 31, 2021 and 2022, respectively. The maturity schedule of time deposits at March 31, 2022 is as follows: Years ending March 31, Millions of yen 2023 ¥ 739,960 2024 392,234 2025 382,672 2026 245,264 2027 101,973 Thereafter 14,026 Total ¥ 1,876,129 |
Income Taxes
Income Taxes | 12 Months Ended |
Mar. 31, 2022 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 17. Income Taxes Income before income taxes and the provision for income taxes in fiscal 2020, 2021 and 2022 are as follows: Millions of yen 2020 2021 2022 Income before income taxes: Japan ¥ 223,327 ¥ 171,569 ¥ 311,351 Overseas 189,234 115,992 193,525 ¥ 412,561 ¥ 287,561 ¥ 504,876 Provision for income taxes: Current— Japan ¥ 55,577 ¥ 45,262 ¥ 136,623 Overseas 35,370 19,967 38,433 90,947 65,229 175,056 Deferred— Japan 9,643 10,642 (631 ) Overseas 5,247 14,876 12,839 14,890 25,518 12,208 Provision for income taxes ¥ 105,837 ¥ 90,747 ¥ 187,264 In fiscal 2020, 2021 and 2022, the Company and its subsidiaries in Japan were subject to a National Corporation 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%. Reconciliations of the differences between the tax provision computed at the statutory rate and the consolidated provision for income taxes in fiscal 2020, 2021 and 2022 are as follows: Millions of yen 2020 2021 2022 Income before income taxes ¥ 412,561 ¥ 287,561 ¥ 504,876 Tax provision computed at the ¥ 129,957 ¥ 90,582 ¥ 159,036 Increases (reductions) in taxes due to: Change in valuation allowance 2,505 6,808 11,464 Nondeductible expenses 4,319 2,751 4,066 Nontaxable income (3,612 ) (1,629 ) (2,611 ) Effect of lower tax rates on certain subsidiaries (24,862 ) (12,895 ) (16,584 ) Effect of investor taxes on earnings of subsidiaries 3,039 4,590 8,155 Effect of the tax law and rate changes (6,642 ) 1,158 (142 ) Effect of sale or liquidation of subsidiaries 307 878 25,642 Other, net 826 (1,496 ) (1,762 ) Provision for income taxes ¥ 105,837 ¥ 90,747 ¥ 187,264 The effective income tax rate is different from the statutory income tax rate primarily because of certain nondeductible expenses, nontaxable income, changes in valuation allowance, the effect of lower tax rates on certain subsidiaries, effect of investor taxes on earnings of subsidiaries, the effect of tax law changes and effect of sale or liquidation of subsidiaries. Total income tax expense recognized in fiscal 2020, 2021 and 2022 was allocated as follows: Millions of yen 2020 2021 2022 Provision for income taxes ¥ 105,837 ¥ 90,747 ¥ 187,264 Income tax expense (benefit) allocated to other comprehensive income (loss): Net change of unrealized gains (losses) on investment in securities (7,016 ) (6,212 ) (21,897 ) Net change of debt valuation adjustments 340 (349 ) (131 ) Net change of defined benefit pension plans 448 2,615 4,889 Net change of foreign currency translation adjustments 10,276 (13,958 ) (17,347 ) Net change of unrealized gains (losses) on derivative instruments (2,163 ) 1,883 4,734 Adjustments to retained earnings for changes in accounting principles* 0 (17,113 ) (215 ) Other direct adjustments to shareholders’ equity 0 1,521 214 Total income tax expense ¥ 107,722 ¥ 59,134 ¥ 157,511 * The amount for fiscal 2021 reflects the tax effect of the adoption of Accounting Standards Update 2016-13 2019-12 The tax effects of temporary differences and carryforwards giving rise to the deferred tax assets and liabilities as of March 31, 2021 and 2022 are as follows: Millions of yen 2021 2022 Assets: Net operating loss carryforwards ¥ 25,083 ¥ 32,914 Allowance for credit losses 25,322 23,381 Investment in securities 9,983 6,685 Accrued expenses 24,393 23,900 Investment in operating leases 12,911 15,099 Property under facility operations 8,480 27,358 Installment loans 4,392 4,361 Unrealized losses on investment in securities 7,859 29,372 Lease liabilities 85,422 77,367 Other 61,002 91,837 264,847 332,274 Less: valuation allowance (21,560 ) (35,155 ) 243,287 297,119 Liabilities: Net investment in Leases 9,705 13,501 Investment in operating leases 111,102 121,337 Unrealized gains on investment in securities 2,502 2,505 Deferred insurance policy acquisition costs 69,249 73,077 Policy liabilities and policy account balances 62,274 74,939 Property under facility operations 10,183 21,931 Other intangible assets 112,234 108,257 Undistributed earnings 38,408 59,134 Prepaid benefit cost 12,187 14,483 Advances paid 11,742 8,647 Right-of-use 86,064 77,003 Other 19,973 22,081 545,623 596,895 Net deferred tax liability ¥ 302,336 ¥ 299,776 Net deferred tax assets and liabilities at March 31, 2021 and 2022 are reflected in the accompanying consolidated balance sheets under the following captions: Millions of yen 2021 2022 Other assets ¥ 38,954 ¥ 46,065 Income taxes: Deferred 341,290 345,841 Net deferred tax liability ¥ 302,336 ¥ 299,776 The valuation allowance is primarily recognized for deferred tax assets of consolidated subsidiaries with operating loss carryforwards. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible and operating loss carryforwards are utilizable. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax-planning beginning-of-the-year The Company and certain subsidiaries have net operating loss carryforwards of ¥278,571 million at March 31, 2022, which expire as follows: Years ending March 31, Millions of yen 2023 ¥ 8,346 2024 17,768 2025 20,038 2026 24,902 2027 12,168 Thereafter 145,823 Indefinite period 49,526 Total ¥ 278,571 The unrecognized tax benefits as of March 31, 2021 and 2022 were not material. The Company and its subsidiaries do not believe that it is reasonably possible that the total amounts of unrecognized tax benefits will significantly increase or decrease within 12 months of March 31, 2022. The total amounts of penalties and interest expense related to income taxes recognized in the consolidated balance sheets as of March 31, 2021 and 2022, and in the consolidated statements of income for the fiscal 2020, 2021 and 2022 were not material. The Company and its subsidiaries file tax returns in Japan and certain foreign tax jurisdictions. The Company is no longer subject to ordinary tax examination in Japan for the tax years prior to fiscal 2021, and its major domestic subsidiaries are no longer subject to ordinary tax examination for the tax years prior to fiscal 2018, respectively. Subsidiaries in the United States remain subject to a tax examination for the tax years after fiscal 2019. Subsidiaries in the Netherlands remain subject to a tax examination for the tax years after fiscal 2016. |
Pension Plans
Pension Plans | 12 Months Ended |
Mar. 31, 2022 | |
Retirement Benefits [Abstract] | |
Pension Plans | 18. Pension Plans The Company and certain subsidiaries have contributory and non-contributory lump-sum The Company and certain 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. The funded status of the defined benefit pension plans, which consists of Japanese plans and overseas plans, as of March 31, 2021 and 2022 are as follows: Millions of yen Japanese plans Overseas plans 2021 2022 2021 2022 Change in benefit obligation: Benefit obligation at beginning of year ¥ 110,467 ¥ 114,556 ¥ 103,616 ¥ 128,573 Service cost 5,831 6,058 3,288 3,947 Interest cost 698 791 1,711 1,329 Actuarial loss (income) (1,550 ) (3,977 ) 12,550 (18,503 ) Plan participant’s contributions 0 0 0 295 Benefits paid (4,379 ) (4,776 ) (2,013 ) (1,552 ) Business combinations 3,087 0 0 0 Plan amendments 402 (1,642 ) 121 254 Foreign currency exchange rate change 0 0 9,300 6,805 Benefit obligation at end of year 114,556 111,010 128,573 121,148 Change in plan assets: Fair value of plan assets at beginning of year 122,780 134,392 96,994 119,858 Actual return on plan assets 11,301 2,819 13,913 (836 ) Employer contribution 3,876 3,909 2,027 2,530 Plan participant’s contributions 0 0 0 295 Benefits paid (3,565 ) (3,803 ) (1,835 ) (1,439 ) Foreign currency exchange rate change 0 0 8,759 6,843 Fair value of plan assets at end of year 134,392 137,317 119,858 127,251 The funded status of the plans ¥ 19,836 ¥ 26,307 ¥ (8,715 ) ¥ 6,103 Amount recognized in the consolidated balance sheets consists of: Prepaid benefit cost included in other assets ¥ 34,940 ¥ 40,118 ¥ 28 ¥ 7,753 Accrued benefit liability included in other liabilities (15,104 ) (13,811 ) (8,743 ) (1,650 ) Net amount recognized ¥ 19,836 ¥ 26,307 ¥ (8,715 ) ¥ 6,103 Amount recognized in accumulated other comprehensive income (loss), pre-tax, Millions of yen Japanese plans Overseas plans 2021 2022 2021 2022 Net prior service credit ¥ (35 ) ¥ 266 1,277 ¥ 746 Net actuarial loss (17,119 ) (12,912 ) (15,344 ) (1,432 ) Net transition obligation 0 0 1 3 Total recognized in accumulated other comprehensive loss, pre-tax ¥ (17,154 ) ¥ (12,646 ) (14,066 ) ¥ (683 ) The accumulated benefit obligations for all Japanese defined benefit pension plans were ¥102,148 million and ¥99,161 million, respectively, at March 31, 2021 and 2022. The accumulated benefit obligations for all overseas defined benefit pension plans were ¥121,459 million and ¥114,930 million, respectively, at March 31, 2021 and 2022. The accumulated benefit obligations and fair value of plan assets for pension plans with accumulated benefit obligations in excess of plan assets at March 31, 2021 and 2022 are as follows: Millions of yen Japanese plans Overseas plans 2021 2022 2021 2022 Accumulated benefit obligations ¥ 14,396 ¥ 13,386 ¥ 115,518 ¥ 7,407 Fair value of plan assets 0 0 113,748 5,842 The projected benefit obligations and fair value of plan assets for pension plans with projected benefit obligations in excess of plan assets at March 31, 2021 and 2022 are as follows: Millions of yen Japanese plans Overseas plans 2021 2022 2021 2022 Projected benefit obligations 15,104 13,811 123,155 8,484 Fair value of plan assets 0 0 114,412 6,834 Net pension cost of the plans for fiscal 2020, 2021 and 2022 consists of the following: Millions of yen 2020 2021 2022 Japanese plans: Service cost ¥ 5,879 ¥ 5,831 ¥ 6,058 Interest cost 585 698 791 Expected return on plan assets (2,806 ) (2,427 ) (2,663 ) Amortization of prior service credit (820 ) (178 ) (66 ) Amortization of net actuarial loss 1,156 1,320 412 Net periodic pension cost ¥ 3,994 ¥ 5,244 ¥ 4,532 Overseas plans: Service cost ¥ 3,566 ¥ 3,288 ¥ 3,947 Interest cost 1,634 1,711 1,329 Expected return on plan assets (4,262 ) (3,618 ) (4,192 ) Amortization of prior service credit (208 ) (269 ) (320 ) Amortization of net actuarial loss 739 313 500 Amortization of transition obligation 1 1 1 Net periodic pension cost ¥ 1,470 ¥ 1,426 ¥ 1,265 Note: Net periodic pension cost is charged in personnel expenses, which is included in selling, general and administrative expenses in the consolidated statements of income. Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss) for fiscal 2020, 2021 and 2022 are summarized as follows: Millions of yen 2020 2021 2022 Japanese plans: Current year actuarial gain (loss) ¥ (1,629 ) ¥ 10,424 ¥ 3,795 Amortization of net actuarial loss 1,156 1,320 412 Prior service credit due to amendments 0 (402 ) 367 Amortization of prior service credit (820 ) (178 ) (66 ) Total recognized in other comprehensive income (loss), pre-tax ¥ (1,293 ) ¥ 11,164 ¥ 4,508 Overseas plans: Current year actuarial gain (loss) ¥ 1,117 ¥ (2,308 ) ¥ 13,672 Amortization of net actuarial loss 739 313 500 Prior service credit due to amendments 1,097 (10 ) (255 ) Amortization of prior service credit (208 ) (269 ) (320 ) Amortization of transition obligation 1 1 1 Foreign currency exchange rate change 524 (946 ) (215 ) Total recognized in other comprehensive income (loss), pre-tax ¥ 3,270 ¥ (3,219 ) ¥ 13,383 The Company and certain subsidiaries use March 31 as a measurement date for all of our material plans. Significant assumptions of Japanese pension plans and overseas pension plans used to determine these amounts are as follows: Japanese plans 2020 2021 2022 Weighted-average assumptions used to determine benefit obligations at March 31: Discount rate 0.6 % 0.7 % 0.6 % Rate of increase in compensation levels 4.0 % 4.0 % 4.0 % Interest crediting rate for cash balance plans 1.5 % 1.5 % 1.5 % Weighted-average assumptions used to determine net periodic pension cost for years ended March 31: Discount rate 0.5 % 0.6 % 0.7 % Rate of increase in compensation levels 4.4 % 4.0 % 4.0 % Expected long-term rate of return on plan assets 2.2 % 2.0 % 2.0 % Interest crediting rate for cash balance plans 1.5 % 1.5 % 1.5 % Overseas plans 2020 2021 2022 Weighted-average assumptions used to determine benefit obligations at March 31: Discount rate 1.7 % 1.0 % 1.7 % Rate of increase in compensation levels 2.2 % 2.2 % 2.2 % Interest crediting rate for cash balance plans — — — Weighted-average assumptions used to determine net periodic pension cost for years ended March 31: Discount rate 1.7 % 1.7 % 1.0 % Rate of increase in compensation levels 2.4 % 2.2 % 2.2 % Expected long-term rate of return on plan assets 3.7 % 3.3 % 3.5 % Interest crediting rate for cash balance plans — — — The Company and certain subsidiaries determine the expected long-term rate of return on plan assets annually based on the composition of the pension asset portfolios and the expected long-term rate of return on these portfolios. The expected long-term rate of return is designed to approximate the long-term rate of return actually earned on the plans’ assets over time to ensure that funds are available to meet the pension obligations that result from the services provided by employees. The Company and certain subsidiaries use a number of factors to determine the expected rate of return, including actual historical returns on the asset classes of the plans’ portfolios and independent projections of returns of the various asset classes. The Company and certain subsidiaries’ investment policies are designed to ensure adequate plan assets are available to provide future payments of pension benefits to eligible participants. The Company and certain subsidiaries formulate a policy portfolio appropriate to produce the expected long-term rate of return on plan assets and to ensure that plan assets are allocated under this policy portfolio. The Company and certain subsidiaries periodically have an external consulting firm monitor the results of actual return and revise the policy portfolio if necessary. The fair value of Japanese pension plan assets at March 31, 2021 and 2022, by asset category, are as follows. The three levels of input used to measure fair value are described in Note 2 “Fair Value Measurements.” Millions of yen March 31, 2021 Total Carrying Value in Consolidated Balance Sheets Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Inputs (Level 3) Equity securities: Japan Pooled funds*1 ¥ 17,823 ¥ 0 ¥ 0 ¥ 0 Other than Japan Pooled funds*2 22,231 0 0 0 Debt securities: Japan Pooled funds*3 24,127 0 0 0 Other than Japan Pooled funds*4 36,386 0 0 0 Other assets: Life insurance company general accounts*5 28,977 0 28,977 0 Others*6 4,848 0 4,848 0 ¥ 134,392 ¥ 0 ¥ 33,825 ¥ 0 *1 These funds invest in listed shares including shares of ORIX Corporation in the amounts of ¥22 million at March 31, 2021. *2 These funds invest in listed shares. *3 These funds invest approximately 70% in Japanese government bonds, approximately 10% in Japanese municipal bonds, and approximately 20% in Japanese corporate bonds. These funds include corporate bonds of ORIX Corporation in the amounts of ¥51 million at March 31, 2021. *4 These funds invest approximately 90% in foreign government bonds and approximately 10% in foreign corporate bonds. *5 Life insurance company general accounts are accounts with guaranteed capital and minimum interest rate, in which life insurance companies manage funds on several contracts. *6 Others include derivative instruments held for hedging change in the fair value of equity securities, and short-term instruments. At March 31, 2021, our policy for the portfolio of plans consists of three major components: approximately 30% is invested in equity securities, approximately 50% is invested in debt securities and approximately 20% is invested in other assets, primarily consisting of investments in life insurance company general accounts. Level 2 assets are comprised principally of investments in life insurance company general accounts. Investments in life insurance company general accounts are valued at conversion value. Pooled funds are valued at the net asset value per share at the measurement date and they have not been classified in the fair value hierarchy. Millions of yen March 31, 2022 Total Carrying Value in Consolidated Balance Sheets Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Inputs (Level 3) Equity securities: Japan Pooled funds*1 ¥ 16,002 ¥ 0 ¥ 0 ¥ 0 Other than Japan Pooled funds*2 21,366 0 0 0 Debt securities: Japan Pooled funds*3 27,845 0 0 0 Other than Japan Pooled funds*4 38,070 0 0 0 Other assets: Life insurance company general accounts*5 29,462 0 29,462 0 Others*6 4,572 0 4,572 0 ¥ 137,317 ¥ 0 ¥ 34,034 ¥ 0 *1 These funds invest in listed shares including shares of ORIX Corporation in the amounts of ¥22 million at March 31, 2022. *2 These funds invest in listed shares. *3 These funds invest approximately 70% in Japanese government bonds, and approximately *4 These funds invest approximately 90% in foreign government bonds and approximately 10% in foreign corporate bonds. *5 Life insurance company general accounts are accounts with guaranteed capital and minimum interest rate, in which life insurance companies manage funds on several contracts. *6 Others include derivative instruments held for hedging change in the fair value of equity securities, and short-term instruments. At March 31, 2022, our policy for the portfolio of plans consists of three major components: approximately 30% is invested in equity securities, approximately 50% is invested in debt securities and approximately 20% is invested in other assets, primarily consisting of investments in life insurance company general accounts. Level 2 assets are comprised principally of investments in life insurance company general accounts. Investments in life insurance company general accounts are valued at conversion value. Pooled funds are valued at the net asset value per share at the measurement date and they have not been classified in the fair value hierarchy. The fair value of overseas pension plan assets at March 31, 2021 and 2022, by asset category, are as follows. The three levels of input used to measure fair value are described in Note 2 “Fair Value Measurements.” Millions of yen March 31, 2021 Total Carrying Value in Consolidated Balance Sheets Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Inputs (Level 3) Equity securities: Other than Japan Shares ¥ 58,483 ¥ 58,483 ¥ 0 ¥ 0 Pooled funds*1 617 0 0 0 Debt securities: Other than Japan Government bonds 52,245 52,245 0 0 Municipal bonds 4,589 0 4,589 0 Other assets: Life insurance company general accounts*2 325 0 325 0 Others*3 3,599 0 3,599 0 ¥ 119,858 ¥ 110,728 ¥ 8,513 ¥ 0 *1 These funds invest in listed shares. *2 Life insurance company general accounts are accounts with guaranteed capital and minimum interest rate, in which life insurance companies manage funds on several contracts. *3 Others include derivative instruments held for hedging change in the fair value of equity securities, and short-term instruments. At March 31, 2021, our policy for the portfolio of plans consists of two major components: approximately 50% is invested in equity securities and approximately 50% is invested in debt securities. Each level into which assets are categorized is based on inputs used to measure the fair value of the assets. Level 1 assets are comprised principally of equity securities and debt securities, which are valued using unadjusted quoted market prices in active markets with sufficient volume and frequency of transactions. Level 2 assets are comprised principally of debt securities and investments in life insurance company general accounts. Investments in life insurance company general accounts are valued at conversion value. Pooled funds are valued at the net asset value per share at the measurement date and they have not been classified in the fair value hierarchy. Millions of yen March 31, 2022 Total Carrying Value in Consolidated Balance Sheets Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Inputs (Level 3) Equity securities: Other than Japan Shares ¥ 59,932 ¥ 59,932 ¥ 0 ¥ 0 Pooled funds*1 1,031 0 0 0 Debt securities: Other than Japan Government bonds 55,999 55,999 0 0 Municipal bonds 4,411 0 4,411 0 Other assets: Life insurance company general accounts*2 351 0 351 0 Others*3 5,527 0 5,527 0 ¥ 127,251 ¥ 115,931 ¥ 10,289 ¥ 0 *1 These funds invest in listed shares. *2 Life insurance company general accounts are accounts with guaranteed capital and minimum interest rate, in which life insurance companies manage funds on several contracts. *3 Others include derivative instruments held for hedging change in the fair value of equity securities, and short-term instruments. At March 31, 2022, our policy for the portfolio of plans consists of two major components: approximately 50% Each level into which assets are categorized is based on inputs used to measure the fair value of the assets. Level 1 assets are comprised principally of equity securities and debt securities, which are valued using unadjusted quoted market prices in active markets with sufficient volume and frequency of transactions. Level 2 assets are comprised principally of debt securities and investments in life insurance company general accounts. Investments in life insurance company general accounts are valued at conversion value. Pooled funds are valued at the net asset value per share at the measurement date and they have not been classified in the fair value hierarchy. The Company and certain subsidiaries expect to contribute ¥3,897 million to its Japanese pension plans and ¥2,663 million to its overseas pension plans during the year ending March 31, 202 3 At March 31, 2022, the benefits expected to be paid in each of the next five fiscal years, and in the aggregate for the five years thereafter are as follows: Millions of yen Years ending March 31, Japanese plans Overseas plans 2023 ¥ 5,468 ¥ 1,989 2024 5,375 2,104 2025 5,853 2,051 2026 6,048 2,137 2027 5,738 2,268 2028-2032 30,942 13,326 Total ¥ 59,424 ¥ 23,875 The cost recognized for Japanese defined contribution pension plans of the Company and certain of its subsidiaries for fiscal 2020, 2021 and 2022 were ¥1,779 million, ¥1,873 million and ¥1,997 million, respectively. The cost recognized for overseas defined contribution pension plans of the Company and certain of its subsidiaries for fiscal 2020, 2021 and 2022 were ¥2,320 million, ¥2,446 million and ¥2,892 million, respectively. |
Redeemable Noncontrolling Inter
Redeemable Noncontrolling Interests | 12 Months Ended |
Mar. 31, 2022 | |
Noncontrolling Interest [Abstract] | |
Redeemable Noncontrolling Interests | 19. Redeemable Noncontrolling Interests Changes in redeemable noncontrolling interests in fiscal 2020, 2021 and 2022 are as follows Millions of yen 2020 2021 2022 Beginning Balance ¥9,780 ¥10,331 ¥0 Transaction with noncontrolling interests 653 (10,028 ) 0 Comprehensive income (loss) Net Income (loss) 384 (23 ) 0 Other comprehensive income (loss) Net change of foreign currency translation adjustments (197 ) (280 ) 0 Total other comprehensive income (loss) (197 ) (280 ) 0 Comprehensive income (loss) 187 (303 ) 0 Dividends (289 ) 0 0 Ending Balance ¥ 10,331 ¥ 0 ¥ 0 |
Stock-Based Compensation
Stock-Based Compensation | 12 Months Ended |
Mar. 31, 2022 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock-Based Compensation | 20. Stock-Based Compensation The Company maintains a stock compensation program for directors, executive officers and group executives of the Company. In July 2014, the Company changed the way of provision of the compensation for retiree to provide these shares through the Board Incentive Plan Trust by a resolution of the Compensation Committee. The Board Incentive Plan Trust purchases the Company’s common shares including future granting shares by an entrusted fund which the Company set in advance. The Company holds those shares as entrusted assets, separately from other treasury stock which the Company holds. Under the program, points are granted annually to directors, executive officers and group executives of the Company based upon the prescribed standards of the Company. Upon retirement, eligible directors, executive officers and group executives receive a certain number of the Company’s common shares calculated by translating each point earned by that retiree to one common share. In fiscal 2022, the Company granted 444,374 points, and 190,966 points were settled for individuals who retired during fiscal 2022. Total points outstanding under the stock compensation program as of March 31, 2022 were 1,866,248 points. The points were adjusted for the 10-for-1 Dur ing fiscal 2020, 2021 and 2022, the Company recognized stock-based compensation costs of its stock compensation program in the amount of ¥417 million, ¥885 million and ¥1,191 million, respectively. |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income (Loss) | 12 Months Ended |
Mar. 31, 2022 | |
Equity [Abstract] | |
Accumulated Other Comprehensive Income (Loss) | 21. Accumulated Other Comprehensive Income (Loss) Changes in each component of accumulated other comprehensive income (loss) attributable to ORIX Corporation Shareholders in fiscal 2020, 2021 and 2022 are as follows: Millions of yen Net unrealized Debt valuation Defined benefit pension plans Foreign currency Net unrealized Accumulated 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 ¥5,078 million (17,637 ) (17,637 ) Reclassification adjustment included in net income, net of tax of ¥1,938 million (4,819 ) (4,819 ) Debt valuation adjustments, net of tax of ¥(357) million 920 920 Reclassification adjustment included in net income, net of tax of ¥17 million (45 ) (45 ) Defined benefit pension plans, net of tax of ¥(223) million 886 886 Reclassification adjustment included in net income, net of tax of ¥(225) million 643 643 Foreign currency translation adjustments, net of tax of ¥(6,212) million (40,605 ) (40,605 ) Reclassification adjustment included in net income, net of tax of ¥(4,064) million 8,941 8,941 Net unrealized gains (losses) on derivative instruments, net of tax of ¥1,511 million (6,385 ) (6,385 ) Reclassification adjustment included in net income, net of tax of ¥652 million (2,171 ) (2,171 ) Total other comprehensive income (loss) (22,456 ) 875 1,529 (31,664 ) (8,556 ) (60,272 ) Transaction with noncontrolling interests 0 0 0 4 (2 ) 2 Less: Other Comprehensive Income (Loss) Attributable to the Noncontrolling Interests (66 ) 0 2 (2,550 ) (270 ) (2,884 ) Less: Other Comprehensive Income (Loss) Attributable to the Redeemable Noncontrolling Interests 0 0 0 (197 ) 0 (197 ) Balance at March 31, 2020 ¥ (5,001 ) ¥ 1,457 ¥ (26,375 ) ¥ (72,471 ) ¥ (16,142 ) ¥ (118,532 ) Net unrealized gains (losses) on investment in securities, net of tax of ¥5,702 million (11,188 ) (11,188 ) Reclassification adjustment included in net income, net of tax of ¥510 million 6 6 Debt valuation adjustments, net of tax of ¥321 million (826 ) (826 ) Reclassification adjustment included in net income, net of tax of ¥28 million (73 ) (73 ) Defined benefit pension plans, net of tax of ¥(2,247) million 4,511 4,511 Reclassification adjustment included in net income, net of tax of ¥(368) million 819 819 Foreign currency translation adjustments, net of tax of ¥14,709 million 32,180 32,180 Reclassification adjustment included in net income, net of tax of ¥(751) million 4,066 4,066 Net unrealized gains (losses) on derivative instruments, net of tax of ¥40 million (997 ) (997 ) Reclassification adjustment included in net income, net of tax of ¥(1,923) million 5,779 5,779 Total other comprehensive income (loss) (11,182 ) (899 ) 5,330 36,246 4,782 34,277 Less: Other Comprehensive Income Attributable to the Noncontrolling Interests 25 0 28 511 111 675 Less: Other Comprehensive Income (Loss) Attributable to the Redeemable Noncontrolling Interests 0 0 0 (280 ) 0 (280 ) Balance at March 31, 2021* ¥ (16,208 ) ¥ 558 ¥ (21,073 ) ¥ (36,456 ) ¥ (11,471 ) ¥ (84,650 ) * As of March 31, 2021, there were no net unrealized gains (losses) on investment in securities related to available-for-sale Millions of yen Net unrealized Debt valuation Defined benefit pension plans Foreign currency Net unrealized Accumulated Balance at March 31, 2021 ¥ (16,208 ) ¥ 558 ¥ (21,073 ) ¥ (36,456 ) ¥ (11,471 ) ¥ (84,650 ) Net unrealized gains (losses) on investment in securities, net of tax of ¥21,836 million (52,477 ) (52,477 ) Reclassification adjustment included in net income, net of tax of ¥61 million (4,207 ) (4,207 ) Debt valuation adjustments, net of tax of ¥121 million (311 ) (311 ) Reclassification adjustment included in net income, net of tax of ¥10 million (26 ) (26 ) Defined benefit pension plans, net of tax of ¥(4,738) million 12,626 12,626 Reclassification adjustment included in net income, net of tax of ¥(151) million 376 376 Foreign currency translation adjustments, net of tax of ¥17,642 million 105,079 105,079 Reclassification adjustment included in net income, net of tax of ¥(295) million 614 614 Net unrealized gains (losses) on derivative instruments, net of tax of ¥(3,256) million 10,634 10,634 Reclassification adjustment included in net income, net of tax of ¥(1,478) million 4,436 4,436 Total other comprehensive income (loss) (56,684 ) (337 ) 13,002 105,693 15,070 76,744 Transaction with noncontrolling interests 0 0 0 (1,472 ) (3 ) (1,475 ) Less: Other Comprehensive Income Attributable to the Noncontrolling Interests 0 0 1 5,851 808 6,660 Balance at March 31, 2022* ¥ (72,892 ) ¥ 221 ¥ (8,072 ) ¥ 61,914 ¥ 2,788 ¥ (16,041 ) * As of March 31, 2022, there were no net unrealized gains (losses) on investment in securities related to available-for-sale Amounts reclassified to net income from accumulated other comprehensive income (loss) for fiscal 2020, 2021 and 2022 are as follows: March 31, 2020 Details about accumulated other comprehensive 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 ¥ 2,366 Gains on investment securities and dividends Sales of debt securities 6,710 Life insurance premiums and related investment income Amortization of debt securities (1,425 ) Finance revenues Amortization of debt securities (894 ) Life insurance premiums and related investment income 6,757 Total before income tax (1,938 ) Income tax (expense) or benefit ¥ 4,819 Net of tax Debt valuation adjustments Fulfillment of policy liabilities and amortization of policy account balances ¥ 62 Life insurance costs 62 Total before income tax (17 ) Income tax (expense) or benefit ¥ 45 Net of tax Defined benefit pension plans Amortization of prior service credit ¥ 1,028 See Note 18 “Pension Plans” Amortization of net actuarial loss (1,895 ) See Note 18 “Pension Plans” Amortization of transition obligation (1 ) See Note 18 “Pension Plans” (868 ) Total before income tax 225 Income tax (expense) or benefit ¥ (643 ) Net of tax Foreign currency translation adjustments Foreign exchange contracts ¥ (5,760 ) Gains on sales of subsidiaries and affiliates and liquidation losses, net/Interest expense/Write-downs of securities Sales or liquidation, other (7,245 ) Gains on sales of subsidiaries and affiliates and liquidation losses, net/Write-downs of securities (13,005 ) Total before income tax 4,064 Income tax (expense) or benefit ¥ (8,941 ) Net of tax Net unrealized gains (losses) on derivative instruments Interest rate swap agreements ¥ (775 ) Interest expense Foreign exchange contracts (338 ) Interest expense/Other (income) and expense Foreign currency swap agreements 3,936 Interest expense/Other (income) and expense 2,823 Total before income tax (652 ) Income tax (expense) or benefit ¥ 2,171 Net of tax March 31, 2021 Details about accumulated other comprehensive 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 ¥ 2,473 Gains on investment securities and dividends Sales of debt securities 5,433 Life insurance premiums and related investment income Amortization of debt securities (1,468 ) Finance revenues Amortization of debt securities (1,340 ) Life insurance premiums and related investment income Others (4,594 ) Write-downs of securities 504 Total before income tax (510 ) Income tax (expense) or benefit ¥ (6 ) Net of tax Debt valuation adjustments Fulfillment of policy liabilities and amortization of policy account balances ¥ 101 Life insurance costs 101 Total before income tax (28 ) Income tax (expense) or benefit ¥ 73 Net of tax Defined benefit pension plans Amortization of prior service credit ¥ 447 See Note 18 “Pension Plans” Amortization of net actuarial loss (1,633 ) See Note 18 “Pension Plans” Amortization of transition obligation (1 ) See Note 18 “Pension Plans” (1,187 ) Total before income tax 368 Income tax (expense) or benefit ¥ (819 ) Net of tax Foreign currency translation adjustments Foreign exchange contracts ¥ (2,057 ) Gains on sales of subsidiaries and affiliates and liquidation losses, net/Interest expense/Other (income) and expense Sales or liquidation (2,760 ) Gains on sales of subsidiaries and affiliates and liquidation losses, net (4,817 ) Total before income tax 751 Income tax (expense) or benefit ¥ (4,066 ) Net of tax Net unrealized gains (losses) on derivative instruments Interest rate swap agreements ¥ (1,522 ) Interest expense Foreign exchange contracts (242 ) Interest expense/Other (income) and expense Foreign currency swap agreements (5,938 ) Interest expense/Other (income) and expense (7,702 ) Total before income tax 1,923 Income tax (expense) or benefit ¥ (5,779 ) Net of tax March 31, 2022 Details about accumulated other comprehensive 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 ¥ 4,619 Gains on investment securities and dividends Sales of debt securities 737 Life insurance premiums and related investment income Amortization of debt securities 92 Finance revenues Amortization of debt securities (658 ) Life insurance premiums and related investment income Others (522 ) Write-downs of securities 4,268 Total before income tax (61 ) Income tax (expense) or benefit ¥ 4,207 Net of tax Debt valuation adjustments Fulfillment of policy liabilities and amortization of policy account balances ¥ 36 Life insurance costs 36 Total before income tax (10 ) Income tax (expense) or benefit ¥ 26 Net of tax Defined benefit pension plans Amortization of prior service credit ¥ 386 See Note 18 “Pension Plans” Amortization of net actuarial loss (912 ) See Note 18 “Pension Plans” Amortization of transition obligation (1 ) See Note 18 “Pension Plans” (527 ) Total before income tax 151 Income tax (expense) or benefit ¥ (376 ) Net of tax Foreign currency translation adjustments Foreign exchange contracts ¥ (1,782 ) Gains on sales of subsidiaries and affiliates and liquidation losses, net/Interest expense/Other (income) and expense Sales or liquidation 873 Gains on sales of subsidiaries and affiliates and liquidation losses, net (909 ) Total before income tax 295 Income tax (expense) or benefit ¥ (614 ) Net of tax Net unrealized gains (losses) on derivative instruments Interest rate swap agreements ¥ (1,615 ) Interest expense Foreign exchange contracts (710 ) Interest expense/Other (income) and expense Foreign currency swap agreements (3,589 ) Interest expense/Other (income) and expense (5,914 ) Total before income tax 1,478 Income tax (expense) or benefit ¥ (4,436 ) Net of tax Comprehensive income (loss) and its components attributable to ORIX Corporation and noncontrolling interests have been reported, net of tax, in the consolidated statements of changes in equity, and information about comprehensive income (loss) and its components attributable to redeemable noncontrolling interests is provided in Note 19 “Redeemable Noncontrolling Interests.” Total comprehensive income (loss) and its components have been reported, net of tax, in the consolidated statements of comprehensive income. |
ORIX Corporation Shareholders'
ORIX Corporation Shareholders' Equity | 12 Months Ended |
Mar. 31, 2022 | |
Stockholders' Equity Note [Abstract] | |
ORIX Corporation Shareholders' Equity | 22. ORIX Corporation Shareholders’ Equity Changes in the number of shares issued in fiscal 2020, 2021 and 2022 are as follows: Number of shares 2020 2021 2022 Beginning balance 1,324,629,128 1,324,629,128 1,285,724,480 Cancellation of treasury stock 0 (38,904,648 ) (27,447,393 ) Ending balance 1,324,629,128 1,285,724,480 1,258,277,087 The Japanese Companies Act (the “Act”) provides that an amount equivalent to 10% of any dividends resulting from appropriation of retained earnings be appropriated to the legal reserve until the aggregate amount of the additional paid-in paid-in The Act provides that at least one-half paid-in paid-in The amount available for dividends under the Act is calculated based on the amount recorded in the Company’s non-consolidated Retained earnings at March 31, 2022 include ¥104,868 million relating to equity in undistributed earnings of the companies accounted or by the equity method. As of March 31, 2022, the restricted net assets of certain subsidiaries include regulatory capital requirements mainly for banking and life insurance operations of ¥12,976 million. |
Gains on Investment Securities
Gains on Investment Securities and Dividends | 12 Months Ended |
Mar. 31, 2022 | |
Other Income and Expenses [Abstract] | |
Gains on Investment Securities and Dividends | 23. Gains on Investment Securities and Dividends Gains on investment securities and dividends in fiscal 2020, 2021 and 2022 consist of the following: Millions of yen 2020 2021 2022 Net gains on investment securities ¥ 20,204 ¥ 44,622 ¥ 54,585 Dividends income 2,295 1,475 1,925 ¥ 22,499 ¥ 46,097 ¥ 56,510 * Unrealized changes in fair value of investments in equity securities have been included in “Net gains on investment securities.” |
Life Insurance Operations
Life Insurance Operations | 12 Months Ended |
Mar. 31, 2022 | |
Insurance [Abstract] | |
Life Insurance Operations | 24. Life Insurance Operations Life insurance premiums and related investment income in fiscal 2020, 2021 and 2022 consist of the following: Millions of yen 2020 2021 2022 Life insurance premiums ¥ 360,583 ¥ 403,799 ¥ 431,289 Life insurance related investment income* 7,195 83,751 50,521 ¥ 367,778 ¥ 487,550 ¥ 481,810 * Life insurance related investment income in fiscal 2020, 2021 and 2022 include net unrealized holding losses of ¥ 13,122 61,351 8,004 Life insurance premiums include reinsurance benefits, net of reinsurance premiums. For fiscal 2020, 2021 and 2022, reinsurance benefits and reinsurance premiums included in life insurance premiums are as follows: Millions of yen 2020 2021 2022 Reinsurance benefits ¥ 3,268 ¥ 2,333 ¥ 2,744 Reinsurance premiums (5,395 ) (5,196 ) (4,498 ) 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 fiscal 2020, 2021 and 2022 amounted to ¥20,611 million, ¥21,928 million and ¥21,213 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 and foreign exchange contracts, entered to economically hedge a portion of the minimum guarantee risk relating to variable annuity and variable life insurance contracts. In addition, the fair value option was elected for the entire variable annuity and variable life insurance contracts to offset 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. Life insurance costs include the net amount of the changes in fair value of the variable annuity and variable life insurance contracts for which the fair value option was elected 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 fiscal 2020, 2021 and 2022 are mainly as follows: Millions of yen 2020 2021 2022 Life insurance premiums and related investment income : Net realized and unrealized gains or losses from investment assets ¥ (10,798 ) ¥ 76,470 ¥ 8,501 Net gains or losses from derivative contracts : 1,667 (10,271 ) (1,520 ) Futures 1,257 (9,412 ) (1,075 ) Foreign exchange contracts 8 (261 ) (445 ) Options held 402 (598 ) 0 Life insurance costs : Changes in the fair value of the policy liabilities and policy account balances ¥ (58,244 ) ¥ (35,565 ) ¥ (67,984 ) Insurance costs recognized for insurance and annuity payouts as a result of insured events 53,442 77,631 69,727 Changes in the fair value of the reinsurance contracts (5,757 ) 11,909 1,083 |
Write-Downs of Long-Lived Asset
Write-Downs of Long-Lived Assets | 12 Months Ended |
Mar. 31, 2022 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Write-Downs of Long-Lived Assets | 25. 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, 2021 and 2022, 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 2021 2022 Investment in operating leases ¥ 8,055 ¥ 35,061 Property under facility operations 0 8,376 Office facilities 0 1,375 Other assets 0 1,556 Other liabilities 0 1,761 The long-lived assets classified as held for sale as of March 31, 2021 are included in Real Estate segment and ORIX USA segment. The long-lived assets classified as held for sale as of March 31, 2022 are included in Corporate Financial Services and Maintenance Leasing segment, Real Estate segment, PE Investment and Concession segment, Aircraft and Ships segment and ORIX USA 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. During fiscal 2020, 2021 and 2022, the Company and its subsidiaries recognized impairment losses for the difference between carrying amounts and fair values in the amount of ¥3,043 million, ¥3,020 million and ¥35,666 million, respectively, which are reflected as write-downs of long-lived assets. Breakdowns of these amounts are as follows. Fiscal Year ended March 31, 2020 Write-downs of the assets held for sale Write-downs due to decline in Amount (Millions of yen) The number of Amount (Millions of yen) The number of Commercial facilities other than office buildings ¥ 0 — ¥ 529 2 Condominiums 159 1 77 3 Land undeveloped or under construction 0 — 2,083 2 Others* 0 — 195 — Total ¥ 159 — ¥ 2,884 — Fiscal Year ended March 31, 2021 Write-downs of the assets held for sale Write-downs due to decline in Amount (Millions of yen) The number of Amount (Millions of yen) The number of Office buildings ¥ 0 — ¥ 331 1 Commercial facilities other than office buildings 1,067 5 189 1 Condominiums 0 — 64 2 Land undeveloped or under construction 0 — 98 2 Others* 0 — 1,271 — Total ¥ 1,067 — ¥ 1,953 — Fiscal Year ended March 31, 2022 Write-downs of the assets held for sale Write-downs due to decline in Amount (Millions of yen) The number of Amount (Millions of yen) The number of Commercial facilities other than office buildings ¥ 858 3 ¥ 11 1 Condominiums 13 2 83 49 Others* 11,878 — 22,823 — Tota l ¥ 12,749 — ¥ 22,917 — * For the “Others”, the numbers of properties are omitted. Write-downs of long-lived assets for fiscal 2020, 2021 include write-downs of ¥109 million and ¥1,099 million of hotels, respectively. Write-downs of long-lived assets for fiscal 2022 include write-downs of ¥31,205 million of property under facility operations and others held by subsidiaries , of which ¥19,564 million related to write-downs of two coal-biomass co-fired power plants, and ¥2,331 million of two aircraft. Breakdowns of these amounts by segment are provided in Note 32 “Segment Information.” |
Per Share Data
Per Share Data | 12 Months Ended |
Mar. 31, 2022 | |
Earnings Per Share [Abstract] | |
Per Share Data | 2 6 Reconciliation of the differences between basic and diluted earnings per share (EPS) in fiscal 2020, 2021 and 2022 is as follows: In fiscal 2020, 2021 and 2022, there was no stock compensation which was antidilutive. Millions of yen 2020 2021 2022 Net Income attributable to ORIX Corporation shareholders ¥ 302,700 ¥ 192,384 ¥ 312,135 Thousands of shares 2020 2021 2022 Weighted-average shares 1,275,166 1,236,897 1,203,452 Effect of dilutive securities Stock compensation 1,153 1,197 1,400 Weighted-average shares for diluted EPS computation 1,276,319 1,238,094 1,204,852 Yen 2020 2021 2022 Earnings per share for net income attributable to ORIX Corporation shareholders: Basic ¥ 237.38 ¥ 155.54 ¥ 259.37 Diluted 237.17 155.39 259.07 Note: The Company’s shares held through the Board Incentive Plan Trust are included in the number of treasury stock to be deducted in calculation of the weighted-average shares for EPS computation (1,735,570 shares, 1,897,979 shares and 2,104,640 shares in fiscal 2020, 2021 and 2022). |
Derivative Financial Instrument
Derivative Financial Instruments and Hedging | 12 Months Ended |
Mar. 31, 2022 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Financial Instruments and Hedging | 2 7 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 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, 2021 and 2022. (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. Net gains (losses) before deducting applicable taxes on derivative contracts were reclassified from other comprehensive income (loss) into earnings when earnings were affected by the variability in cash flows of the designated hedged item. The amounts of these net gains (losses) after deducting applicable taxes were net gains of ¥2,171 million, losses of ¥5,779 million and losses of ¥4,436 million during fiscal 2020, 2021 and 2022, respectively. The amount of net derivative losses, ¥137 million, included in other comprehensive income (loss), net of applicable income taxes at March 31, 2022 will be reclassified into earnings within fiscal 2023. (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. A certain subsidiary designates foreign exchange contracts to minimize foreign currency exposures on bonds in foreign currencies in the insurance business. The subsidiary also uses interest rate swap agreements to hedge interest rate exposure of the fair values of bonds in foreign currencies in the insurance business. (c) Hedges of net investment in foreign operations The Company and its subsidiaries use foreign exchange contracts and borrowings and bonds denominated in foreign currencies to hedge the foreign currency exposure of the net investment in overseas subsidiaries and affiliates. (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 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 Millions of yen Gains (losses) recognized in other comprehensive income on derivative Gains (losses) reclassified from other comprehensive income (loss) Interest expense Other (income) and expense Interest rate swap agreements ¥ (11,506 ) ¥ 775 ¥ 0 Foreign exchange contracts (241 ) (119 ) 457 Foreign currency swap agreements 3,851 413 (4,349 ) (2) Fair value hedges Gains (losses) recognized in income on derivative and other Gains (losses) recognized in income on hedged item Life insurance premiums Other (income) Life insurance premiums Other (income) Interest rate swap agreements ¥ (19,805 ) ¥ 0 ¥ 18,955 ¥ 0 Foreign exchange contracts 3,656 (187 ) (3,294 ) 244 (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 Gains on sales of Interest expense Write-downs Foreign exchange contracts ¥ 15,273 ¥ 1,594 ¥ 4,595 ¥ 2,759 Borrowings and bonds in foreign currencies 13,489 0 0 0 (4) Derivatives not designated as hedging instruments Millions of yen Gains (losses) recognized in income on derivative Life insurance premiums Interest expense Other (income) Interest rate swap agreements ¥ 0 ¥ 7 ¥ 159 Futures 1,257 0 (1,843 ) Foreign exchange contracts 204 4,803 (1,840 ) Credit derivatives held 0 0 (6 ) Options held/written and other 402 0 4,481 * 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 fiscal 2020 (see Note 24 “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) Interest expense Other (income) and expense Interest rate swap agreements ¥ 5,051 ¥ 1,522 ¥ 0 Foreign exchange contracts (45 ) 827 (585 ) Foreign currency swap agreements (6,043 ) 553 5,385 (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) Life insurance premiums Other (income) Interest rate swap agreements ¥ 9,533 ¥ 0 ¥ (8,990 ) ¥ 0 Foreign exchange contracts (5,032 ) 438 3,591 (356 ) (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 Gains on sales of Interest expense Other (income) and expense Foreign exchange contracts ¥ (27,128 ) ¥ 1,145 ¥ 3,181 ¥ 21 Borrowings and bonds in foreign currencies (15,840 ) 0 0 0 (4) Derivatives not designated as hedging instruments Millions of yen Gains (losses) recognized in income on derivative Life insurance premiums Interest expense Other (income) Interest rate swap agreements ¥ 0 ¥ 7 ¥ (13 ) Futures (9,412 ) 0 6,980 Foreign exchange contracts (215 ) 2,085 12,814 Credit derivatives held 0 0 1 Options held/written and other (598 ) 0 (2,419 ) * 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 fiscal 2021 (see Note 24 “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) Interest expense Other (income) and expense Interest rate swap agreements ¥ 16,507 ¥ 1,615 ¥ 0 Foreign exchange contracts (542 ) 223 487 Foreign currency swap agreements (2,075 ) 559 3,030 (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) Life insurance premiums Other (income) Interest rate swap agreements ¥ 4,142 ¥ 0 ¥ (4,068 ) ¥ 0 Foreign exchange contracts (37,997 ) 5 37,659 89 (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 Gains on sales of Interest expense Other (income) and expense Foreign exchange contracts ¥ (28,498 ) ¥ (104 ) ¥ 1,673 ¥ 5 Borrowings and bonds in foreign currencies (63,922 ) 0 0 0 (4) Derivatives not designated as hedging instruments Millions of yen Gains (losses) recognized in income on derivative Life insurance premiums Interest expense Other (income) Interest rate swap agreements ¥ 0 ¥ 6 ¥ (22 ) Futures (1,075 ) 0 186 Foreign exchange contracts 20,254 1,308 38,330 Credit derivatives held 0 0 (1 ) Options held/written and other 0 0 (749 ) * Futures and foreign exchange contracts in the above table include gains (losses) arising from futures and foreign exchange contracts held to economically hedge the minimum guarantee risk of variable annuity and variable life insurance contracts for fiscal 2022 (see Note 24 “Life Insurance Operations”). The effect of the components excluded from the assessment of hedge effectiveness on the consolidated statements of income, pre-tax, for fiscal 2020 is as follows. Fair value hedges Millions of yen Gains (losses) recognized in income Life insurance premiums Interest expense Other (income) Foreign exchange contracts ¥ (3,020 ) ¥ 3 ¥ 0 Options held/written and other 0 0 29 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) recognized in income Life insurance premiums Interest expense Other (income) Foreign exchange contracts ¥ (1,249 ) ¥ 6 ¥ 0 Options held/written and other 0 0 32 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 March 31, 2021 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 ¥ 314,248 ¥ 12,764 — ¥ 0 ¥ 0 Installment Loans 17,942 43 — 0 0 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) recognized in income Life insurance premiums Interest expense Other (income) Foreign exchange contracts ¥ (1,233 ) ¥ 9 ¥ 0 Options held/written and other 0 0 31 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 March 31, 2022 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 ¥ 422,938 ¥ 1,147 — ¥ 0 ¥ 0 Installment Loans 28,836 55 — 0 0 Notional amounts of derivative instruments and other, fair values of derivative instruments and other before offsetting at March 31, 2021 and 2022 are as follows. March 31, 2021 Derivative assets Derivative liabilities Notional amount Fair value Consolidated Fair value Consolidated Millions of yen Millions of yen Millions of yen Derivatives designated as hedging instruments and other: Interest rate swap agreements ¥ 531,971 ¥ 1,867 Other Assets ¥ 23,751 Other Liabilities Options held/written and other 840 26 Other Assets 0 — Futures, foreign exchange contracts 657,411 437 Other Assets 18,941 Other Liabilities Foreign currency swap agreements 76,023 146 Other Assets 4,459 Other Liabilities Foreign currency long-term debt 582,174 0 — 0 — Derivatives not designated as hedging instruments: Interest rate swap agreements ¥ 6,409 ¥ 0 — ¥ 67 Other Liabilities Options held/written and other 746,058 19,478 Other Assets 17,009 Other Liabilities Futures, foreign exchange contracts* 320,908 742 Other Assets 6,798 Other Liabilities Credit derivatives held 171 0 — 9 Other Liabilities * The notional amounts of and March 31, 2022 Derivative assets Derivative liabilities Notional amount Fair value Consolidated Fair value Consolidated Millions of yen Millions of yen Millions of yen Derivatives designated as hedging instruments and other: Interest rate swap agreements ¥ 511,224 ¥ 9,570 Other Assets ¥ 8,170 Other Liabilities Options held/written and other 847 11 Other Assets 0 — Futures, foreign exchange contracts 944,282 445 Other Assets 51,953 Other Liabilities Foreign currency swap agreements 78,445 126 Other Assets 4,518 Other Liabilities Foreign currency long-term debt 690,381 0 — 0 — Derivatives not designated as hedging instruments: Interest rate swap agreements ¥ 432 ¥ 0 — ¥ 12 Other Liabilities Options held/written and other 794,774 25,653 Other Assets 21,562 Other Liabilities Futures, foreign exchange contracts* 725,685 15,561 Other Assets 19,490 Other Liabilities * The notional amounts of futures and foreign exchange contracts in the above table include futures contracts of ¥15,088 million and foreign exchange contracts of ¥7,415 million to economically hedge the minimum guarantee risk of variable annuity and variable life insurance contracts at March 31, 2022, respectively. Derivative assets in the above table include fair value of the futures and foreign exchange contracts before offsetting of ¥79 million and ¥57 million and derivative liabilities include fair value of the futures and foreign exchange contracts before offsetting of ¥1,325 million and ¥378 million at March 31, 2022, respectively. |
Offsetting Assets and Liabiliti
Offsetting Assets and Liabilities | 12 Months Ended |
Mar. 31, 2022 | |
Text Block [Abstract] | |
Offsetting Assets and Liabilities | 2 8 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, 2021 and 2022 are as follows. March 31, 2021 Millions of yen Gross recognized Gross amounts offset in the consolidated balance sheets Net amounts presented in the consolidated balance sheets Gross amounts not offset Net amount Financial instruments Collateral received/ Derivative assets ¥ 22,696 ¥ (1,944 ) ¥ 20,752 ¥ 0 ¥ 0 ¥ 20,752 Total assets ¥ 22,696 ¥ (1,944 ) ¥ 20,752 ¥ 0 ¥ 0 ¥ 20,752 Derivative liabilities ¥ 71,034 ¥ (1,944 ) ¥ 69,090 ¥ (18,913 ) ¥ (147 ) ¥ 50,030 Total liabilities ¥ 71,034 ¥ (1,944 ) ¥ 69,090 ¥ (18,913 ) ¥ (147 ) ¥ 50,030 March 31, 2022 Millions of yen Gross recognized Gross amounts offset in the consolidated balance sheets Net amounts presented in the consolidated balance sheets Gross amounts not offset Net amount Financial instruments Collateral received/ Derivative assets ¥ 51,366 ¥ (20,333 ) ¥ 31,033 ¥ 0 ¥ (1,060 ) ¥ 29,973 Total assets ¥ 51,366 ¥ (20,333 ) ¥ 31,033 ¥ 0 ¥ (1,060 ) ¥ 29,973 Derivative liabilities ¥ 105,705 ¥ (20,333 ) ¥ 85,372 ¥ (15,409 ) ¥ 0 ¥ 69,963 Total liabilities ¥ 105,705 ¥ (20,333 ) ¥ 85,372 ¥ (15,409 ) ¥ 0 ¥ 69,963 * The balances related to enforceable master netting agreements or similar agreements which were not offset in the consolidated balance sheets. |
Significant Concentrations of C
Significant Concentrations of Credit Risk | 12 Months Ended |
Mar. 31, 2022 | |
Risks and Uncertainties [Abstract] | |
Significant Concentrations of Credit Risk | 29 The Company and its subsidiaries have established various policies and procedures to manage credit exposure, including initial credit approval, credit limits, collateral and guarantee requirements, obtaining rights of offset and continuous oversight. The Company and its subsidiaries’ principal financial instrument portfolio consists of investment in net investment in leases which are secured by title to the leased assets and installment loans which are secured by assets specifically collateralized in relation to loan agreements. When deemed necessary, guarantees are also obtained. The value and adequacy of the collateral are continually monitored. Consequently, the risk of credit loss from counterparties’ failure to perform in connection with collateralized financing activities is believed to be minimal. The Company and its subsidiaries have access to collateral in case of bankruptcy and other losses. However, a significant decline in real estate markets could result in a decline in fair value of the collateral real estate below the mortgage setting amount, which would expose the Company and certain subsidiaries to unsecured credit risk. At March 31, 2021 and 2022, no concentration with a single obligor exceeded 1% of the Company’s consolidated total assets. With respect to the Company and its subsidiaries’ credit exposures on a geographic basis, ¥7,112 billion, or 73%, at March 31, 2021 and ¥7,138 billion, or 70%, at March 31, 2022 of the credit risks arising from all financial instruments are attributable to customers located in Japan. The largest concentration of credit risk outside of Japan is exposure attributable to obligors located in the Americas. The gross amount of such exposure is ¥1,180 billion and ¥1,355 billion as of March 31, 2021 and 2022, respectively. The Company and its subsidiaries have transportation equipment such as automobile operations and aircraft. Transportation equipment is mainly recorded in investment in net investment in leases and operating leases. In connection with investment in net investment in leases and operating leases, the percentage of investment in transportation equipment to consolidated total assets is 9.7% and 9.3% as of March 31, 2021 and 2022, respectively. The Company and its subsidiaries provide consumers with real estate loans. In connection with installment loans, the percentage of real estate loans for consumers to consolidated total assets is 15.3% and 14.8% as of March 31, 2021 and 2022, respectively. |
Estimated Fair Value of Financi
Estimated Fair Value of Financial Instruments | 12 Months Ended |
Mar. 31, 2022 | |
Fair Value Disclosures [Abstract] | |
Estimated Fair Value of Financial Instruments | 3 0 The following information is provided to help readers gain an understanding of the relationship between carrying amounts 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, 2021 Millions of yen Carrying amount Estimated fair value Level 1 Level 2 Level 3 Assets: Cash and cash equivalents ¥ 951,242 ¥ 951,242 ¥ 951,242 ¥ 0 ¥ 0 Restricted cash 128,333 128,333 128,333 0 0 Installment loans (net of allowance for credit losses) 3,613,316 3,631,561 0 166,410 3,465,151 Equity securities*1 396,465 396,465 82,039 223,016 91,410 Trading debt securities 2,654 2,654 0 2,654 0 Available-for-sale 2,003,917 2,003,917 6,012 1,864,448 133,457 Held-to-maturity 113,790 139,132 0 115,893 23,239 Other Assets: Time deposits 4,146 4,146 0 4,146 0 Derivative assets*2 20,752 20,752 0 0 0 Reinsurance recoverables (Investment contracts) 7,299 7,507 0 0 7,507 Liabilities: Short-term debt ¥ 307,269 ¥ 307,269 ¥ 0 ¥ 307,269 ¥ 0 Deposits 2,165,293 2,167,449 0 2,167,449 0 Policy liabilities and Policy account balances (Investment contracts) 196,549 196,624 0 0 196,624 Long-term debt 4,416,833 4,442,351 0 1,286,463 3,155,888 Other Liabilities: Derivative liabilities*2 69,090 69,090 0 0 0 *1 The amount of ¥13,737 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 2 “Fair Value Measurements.” March 31, 2022 Millions of yen Carrying amount Estimated fair value Level 1 Level 2 Level 3 Assets: Cash and cash equivalents ¥ 954,827 ¥ 954,827 ¥ 954,827 ¥ 0 ¥ 0 Restricted cash 136,985 136,985 136,985 0 0 Installment loans (net of allowance for credit losses) 3,814,773 3,806,552 0 261,031 3,545,521 Equity securities*1 385,271 385,271 112,200 160,099 112,972 Trading debt securities 2,503 2,503 0 2,503 0 Available-for-sale 2,174,891 2,174,891 1,095 2,032,736 141,060 Held-to-maturity 114,312 135,441 0 112,678 22,763 Other Assets: Time deposits 4,197 4,197 0 4,197 0 Derivative assets*2 31,033 31,033 0 0 0 Reinsurance recoverables (Investment contracts) 6,216 6,049 0 0 6,049 Liabilities: Short-term debt ¥ 439,639 ¥ 439,639 ¥ 0 ¥ 439,639 ¥ 0 Deposits 2,106,900 2,108,169 0 2,108,169 0 Policy liabilities and Policy account balances (Investment contracts) 178,170 178,159 0 0 178,159 Long-term debt 4,427,046 4,426,629 0 1,456,822 2,969,807 Other Liabilities: Derivative liabilities*2 85,372 85,372 0 0 0 *1 The amount of ¥25,999 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 2 “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 | 12 Months Ended |
Mar. 31, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments, Guarantees and Contingent Liabilities | 31. Commitments, Guarantees and Contingent Liabilities Commitments Certain computer systems of the Company and certain subsidiaries have been operated and maintained under non-cancelable subsidiaries made payments totaling ¥7,139 million, ¥6,486 million and ¥8,036 million in fiscal 2020, 2021 and 2022, respectively. The longest contract of them will mature in fiscal 2028. As of March 31, 2022, the amounts due are as follows: Years ending March 31, Millions of yen 2023 ¥ 5,205 2024 3,237 2025 2,112 2026 139 2027 70 Thereafter 11 Total ¥ 10,774 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 ¥128,449 million as of March 31, 2022. 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. As of March 31, 2022, the total unused credit and capital amount available is ¥436,784 million. Guarantees 2021 2022 Millions of yen Fiscal year Millions of yen Fiscal year Guarantees Potential future payment Book value of guarantee liabilities Maturity contract Potential future payment Book value of guarantee liabilities Maturity contract Corporate loans ¥ 469,377 ¥ 4,768 2028 ¥ 436,414 ¥ 4,895 2027 Transferred loans 365,546 5,827 2061 417,587 4,103 2062 Consumer loans 294,250 49,025 2032 284,891 47,461 2033 Real estate loans 17,621 4,119 2048 12,087 3,953 2048 Other 598 104 2035 2,294 46 2035 Total ¥ 1,147,392 ¥ 63,843 — ¥ 1,153,273 ¥ 60,458 — Guarantee of corporate loans: obtain a right to claim the collateral assets. In other cases, certain contracts that guarantee corporate loans issued by financial institutions for customers include contracts that the amounts of performance guarantee are limited to a certain range of guarantee commissions. As of March 31, 2021 and 2022, total notional amount of the loans subject to such guarantees are ¥690,000 million and ¥563,000 million, respectively, and book value of guarantee liabilities are ¥1,998 million and ¥2,317 million, respectively. The potential future payment amounts for these guarantees are limited to a certain range of the guarantee commissions, which are less than the total notional amounts of the loans subject to these guarantees. The potential future payment amounts for the contract period are calculated from the guarantee limit which is arranged by financial institutions in advance as to contracts that the amounts of performance guarantee are unlimited to a certain range of guarantee commissions. For this reason, the potential future payment amounts for these guarantees include the amount of the guarantee which may occur in the future, which is larger than the balance of guarantee executed as of the end of fiscal year. The executed guarantee balance includes defrayment by financial institutions which we bear temporarily at the time of execution, and credit risk for financial institutions until liquidation of this guarantee. Our substantial amounts of performance guarantee except credit risk for financial institutions are limited to our defrayment which is arranged by financial institutions in advance. 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 in fiscal 2022. Guarantee of transferred loans: Under these programs, the subsidiary guarantees the performance of the loans transferred to Fannie Mae and Freddie Mac 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 in fiscal 2022. As of March 31, 2021 and 2022, 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 ¥1,857,499 million and ¥2,121,074 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 in fiscal 2022. Guarantee of real estate 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 in fiscal 2022. Other guarantees: Allowance for off-balance off-balance off-balance million as of March 31, 2021 and 2022, respectively. Additionally, provision for credit losses in the consolidated statements of income in fiscal 2021 included reversals of ¥7,437 million, which was mainly caused by a decrease in outstanding financial guarantees of card loans and other credit facilities extended by Japanese financial institutions as a result of restrained customer demand for funds and an increase in repayments reflecting changes in consumer behavior due to COVID-19. Provision for credit losses in the consolidated statements of income in fiscal 2022 included reversals of ¥4,449 million, which was mainly caused by improved macroeconomic forecast in the Americas. Contingencies In addition, the Company and certain subsidiaries are involved in legal proceedings and claims in the ordinary course of business. In the opinion of management, none of such proceedings and claims will have a significant impact on the Company’s financial position or results of operations. |
Segment Information
Segment Information | 12 Months Ended |
Mar. 31, 2022 | |
Segment Reporting [Abstract] | |
Segment Information | 3 2 Based on our business management organization which is classified by the nature of major products and services, customer base, regulations, and business areas, our business is organized into ten operating segments: Corporate Financial Services and Maintenance Leasing, Real Estate, PE Investment and Concession, Environment and Energy, Insurance, Banking and Credit, Aircraft and Ships, ORIX USA, ORIX Europe, and Asia and Australia. Financial information about the operating segments reported below is that which is available by segment and evaluated regularly by the chief operating decision maker to make decision about resource allocations and assess performance. An overview of operations for each of the ten segments follows below. Corporate Financial Services and Maintenance Leasing : Finance and fee business; leasing and rental of automobiles, electronic measuring instruments and ICT-related Real Estate : Real estate development, rental and management; facility operations; real estate asset management PE Investment and Concession : Private equity investment and concession Environment and Energy : Domestic and overseas renewable energy; electric power retailing; ESCO services; sales of solar panels and battery energy storage system; recycling and waste management Insurance : Life insurance Banking and Credit : Banking and consumer finance Aircraft and Ships : Aircraft leasing and management; ship-related finance and investment ORIX USA : Finance, investment and asset management in the Americas ORIX Europe : Asset management of global equity and fixed income Asia and Australia : Finance and investment businesses in Asia and Australia Since April 1, 2020, the operating segments regularly reviewed by the chief operating decision maker to make decisions about resource allocations and assess performance have been changed, resulting in a reorganization of our reportable segments. As a result of this change, segment data for fiscal 2020 has been retrospectively restated. Financial information of the segments for fiscal 2020, 2021 and 2022 is as follows: Millions of yen Fiscal Year ended March 31, 2020 Corporate Real Estate PE Environment Insurance Banking and Aircraft and Revenues ¥ 428,961 ¥ 468,086 ¥ 296,365 ¥ 147,498 ¥ 371,387 ¥ 84,355 ¥ 64,650 Finance revenues 62,327 6,723 124 1,034 220 80,868 2,478 Interest expense 6,148 1,790 911 8,403 1 4,488 18,866 Depreciation and amortization 155,704 14,881 8,015 17,188 26,560 1,288 15,705 Other significant non-cash Provision for doubtful receivables and probable loan losses 1,171 242 40 (2 ) (0 ) 11,971 (0 ) Write-downs of long-lived assets 11 303 23 2,083 0 0 0 Increase in policy liabilities and policy account balances 0 0 0 0 70,120 0 0 Equity in net income (loss) of affiliates and gains (losses) on sales of subsidiaries and affiliates and liquidation losses, net 645 28,743 35,286 176 0 3 28,244 Bargain Purchase Gain 955 0 0 0 0 0 0 Segment profits 74,712 81,513 44,508 11,147 45,954 40,816 44,885 Segment assets 1,804,216 821,194 322,522 464,273 1,580,158 2,603,736 585,304 Long-lived assets 570,014 504,544 53,347 354,510 28,911 0 258,691 Expenditures for long-lived assets 192,614 71,034 1,793 29,036 0 0 166,510 Investment in affiliates 18,347 91,835 68,603 82,253 0 400 284,453 Millions of yen Fiscal Year ended March 31, 2020 ORIX USA ORIX Europe Asia and Total Revenues ¥ 135,709 ¥ 148,524 ¥ 137,797 ¥ 2,283,332 Finance revenues 79,973 559 43,694 278,000 Interest expense 30,878 (170 ) 26,316 97,631 Depreciation and amortization 2,518 4,721 48,463 295,043 Other significant non-cash Provision for doubtful receivables and probable loan losses 7,508 (17 ) 3,512 24,425 Write-downs of long-lived assets 510 (0 ) 113 3,043 Increase in policy liabilities and policy account balances 0 0 0 70,120 Equity in net income (loss) of affiliates and gains (losses) on sales of subsidiaries and affiliates and liquidation losses, net 28,380 13,157 7,246 141,880 Bargain Purchase Gain 0 0 0 955 Segment profits 50,955 45,084 11,787 451,361 Segment assets 1,374,027 317,847 1,010,268 10,883,545 Long-lived assets 17,859 0 192,910 1,980,786 Expenditures for long-lived assets 172 0 85,621 546,780 Investment in affiliates 52,361 1,495 221,853 821,600 Millions of yen Fiscal Year ended March 31, 2021 Corporate Real Estate PE Environment Insurance Banking and Aircraft and Revenues ¥ 431,015 ¥ 359,798 ¥ 331,222 ¥ 141,971 ¥ 491,894 ¥ 83,724 ¥ 31,617 Finance revenues 58,996 6,206 152 1,315 242 78,071 1,172 Interest expense 5,613 2,282 1,455 11,469 6 4,931 12,760 Depreciation and amortization 162,620 15,249 9,406 20,221 28,366 1,279 13,566 Other significant non-cash Provision for credit losses 1,074 818 3,621 469 7 508 (159 ) Write-downs of long-lived assets 207 1,167 0 98 0 0 0 Increase in policy liabilities and policy account balances 0 0 0 0 230,947 0 0 Equity in net income (loss) of affiliates and gains (losses) on sales of subsidiaries and affiliates and liquidation losses, net 1,485 6,132 (8,449 ) 12,423 0 3 8,718 Bargain Purchase Gain 0 0 601 4,365 0 0 0 Segment profits 70,727 25,886 3,842 27,543 56,152 49,913 5,357 Segment assets 1,676,063 872,095 378,698 489,174 1,959,521 2,690,627 601,762 Long-lived assets 542,284 544,232 74,130 285,155 28,538 0 262,019 Expenditures for long-lived assets 155,713 100,494 12,123 17,681 3 0 32,920 Investment in affiliates 18,049 99,105 55,421 180,492 0 200 293,469 Millions of yen Fiscal Year ended March 31, 2021 ORIX USA ORIX Europe Asia and Total Revenues ¥ 138,017 ¥ 160,798 ¥ 128,309 ¥ 2,298,365 Finance revenues 87,172 171 39,931 273,428 Interest expense 19,598 (435 ) 19,678 77,357 Depreciation and amortization 2,474 962 50,837 304,980 Other significant non-cash Provision for credit losses 6,221 34 3,424 16,017 Write-downs of long-lived assets 1,458 0 90 3,020 Increase in policy liabilities and policy account balances 0 0 0 230,947 Equity in net income (loss) of affiliates and gains (losses) on sales of subsidiaries and affiliates and liquidation losses, net 8,423 245 (5,200 ) 23,780 Bargain Purchase Gain 0 0 0 4,966 Segment profits 40,296 39,446 13,124 332,286 Segment assets 1,220,081 369,546 1,084,222 11,341,789 Long-lived assets 13,656 0 231,307 1,981,321 Expenditures for long-lived assets 592 0 87,327 406,853 Investment in affiliates 43,816 1,770 195,413 887,735 Millions of yen Fiscal Year ended March 31, 2022 Corporate Real Estate PE Environment Insurance Banking and Aircraft and Revenues ¥ 445,338 ¥ 390,688 ¥ 385,739 ¥ 160,232 ¥ 486,704 ¥ 84,821 ¥ 38,639 Finance revenues 57,580 5,602 237 1,001 265 76,190 2,580 Interest expense 5,109 2,584 2,268 6,651 9 4,946 11,003 Depreciation and amortization 156,116 16,164 22,325 18,140 27,884 1,335 15,669 Other significant non-cash Provision for credit losses 1,296 173 924 0 (0 ) 2,395 (0 ) Write-downs of long-lived assets 1,092 88 11,657 19,564 0 0 2,331 Increase in policy liabilities and policy account balances 0 0 0 0 141,201 0 0 Equity in net income (loss) of affiliates and gains (losses) on sales of subsidiaries and affiliates and liquidation losses, net 164,020 1,575 (11,040 ) 7,295 0 1 (5,472 ) Segment profits 251,384 33,558 (11,261 ) 2,948 54,560 43,779 (1,838 ) Segment assets 1,516,795 910,101 353,581 703,608 2,072,145 2,687,156 684,098 Long-lived assets 508,035 574,661 85,698 388,399 27,962 0 271,592 Expenditures for long-lived assets 146,851 78,601 11,884 30,200 0 0 70,370 Investment in affiliates 16,929 113,178 43,498 204,260 0 67 320,058 Millions of yen Fiscal Year ended March 31, 2022 ORIX USA ORIX Europe Asia and Total Revenues ¥ 161,344 ¥ 221,112 ¥ 148,055 ¥ 2,522,672 Finance revenues 90,708 56 47,166 281,385 Interest expense 16,117 (840 ) 19,659 67,506 Depreciation and amortization 2,678 1,225 59,768 321,304 Other significant non-cash Provision for credit losses (1,726 ) 0 885 3,947 Write-downs of long-lived assets 928 0 6 35,666 Increase in policy liabilities and policy account balances 0 0 0 141,201 Equity in net income (loss) of affiliates and gains (losses) on sales of subsidiaries and affiliates and liquidation losses, net 20,593 449 25,370 202,791 Segment profits 76,263 49,559 52,255 551,207 Segment assets 1,364,142 401,869 1,306,089 11,999,584 Long-lived assets 13,399 0 280,684 2,150,430 Expenditures for long-lived assets 717 0 113,594 452,217 Investment in affiliates 45,337 2,221 232,471 978,019 The accounting policies of the segments are almost the same as those described in Note 1 “Significant Accounting and Reporting Policies” except for the treatment of income tax expenses, net income attributable to the noncontrolling interests, net income attributable to the redeemable noncontrolling interests. Net income attributable to noncontrolling interests and redeemable noncontrolling interests are not included in segment profits or losses because the management evaluates segments’ performance based on profits or losses (pre-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). This has resulted in the depreciation of office facilities being included in each segment’s profit or loss while the carrying amounts of corresponding assets are not allocated to each segment’s assets. However, the effect resulting from this allocation is not significant. Since April 1, 2020, the selling, general and administrative expenses that should be borne by ORIX Group as a whole, which were initially charged directly to its respective segments, have been included in the difference between segment total profits and consolidated amounts. As a result of this change, segment data for fiscal 2020 has been retrospectively restated. Since April 1, 2020, Credit Losses Standard has been adopted, and the amounts of allowance for doubtful receivables on finance leases and probable loan losses have been reclassified to allowance for credit losses. For further information, see Note 1 “Significant Accounting and Reporting Policies (ai) New accounting pronouncements.” Since April 1, 2021, a portion of interest expenses, which were initially included in the difference between segment total profits and consolidated amounts, have been charged directly to its respective segments. In addition, a portion of selling, general and administrative expenses, which were initially recorded in each respective segment, have been included in the difference between segment total profits and consolidated amounts. Furthermore, a portion of the leasing business in the Environment and Energy segment was transferred to the Corporate Financial Services and Maintenance Leasing segment. As a result of these changes, segment data for fiscal 2020 and 2021 have been retrospectively restated. 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 2020 2021 2022 Segment revenues: Total revenues for segments ¥ 2,283,332 ¥ 2,298,365 ¥ 2,522,672 Revenues related to corporate assets 16,273 12,010 16,696 Revenues from inter-segment transactions (19,276 ) (17,667 ) (19,003 ) Total consolidated revenues ¥ 2,280,329 ¥ 2,292,708 ¥ 2,520,365 Segment profits: Total segment profits ¥ 451,361 ¥ 332,286 ¥ 551,207 Corporate losses (43,842 ) (49,334 ) (52,329 ) Net income attributable to the noncontrolling interests and net income attributable to the redeemable noncontrolling interests 5,042 4,609 5,998 Total consolidated income before income taxes ¥ 412,561 ¥ 287,561 ¥ 504,876 Segment assets: Total segment assets ¥ 10,883,545 ¥ 11,341,789 ¥ 11,999,584 Cash and cash equivalents, restricted cash 1,135,284 1,079,575 1,091,812 Allowance for doubtful receivables on finance leases and probable loan losses (56,836 ) 0 0 Allowance for credit losses 0 (78,945 ) (69,459 ) Trade notes, accounts and other receivable 312,744 354,334 359,949 Other corporate assets 792,791 866,329 888,786 Total consolidated assets ¥ 13,067,528 ¥ 13,563,082 ¥ 14,270,672 The following information represents geographical revenues and income before income taxes, which are attributed to geographic areas, based on the country location of the Company and its subsidiaries. Millions of yen Fiscal Year ended March 31, 2020 Japan The Other*2 Total Total Revenues ¥ 1,792,790 ¥ 201,578 ¥ 285,961 ¥ 2,280,329 Income before Income Taxes 266,838 68,886 76,837 412,561 Millions of yen Fiscal Year ended March 31, 2021 Japan The Other*2 Total Total Revenues ¥ 1,817,124 ¥ 208,072 ¥ 267,512 ¥ 2,292,708 Income before Income Taxes 176,256 57,709 53,596 287,561 Millions of yen Fiscal Year ended March 31, 2022 Japan The Other*2 Total Total Revenues ¥ 1,946,153 ¥ 240,234 ¥ 333,978 ¥ 2,520,365 Income before Income Taxes 322,805 95,284 86,787 504,876 *1 Mainly the United States *2 Mainly Asia, Europe, Australasia and Middle East No single customer accounted for 10% or more of the Company’s total revenues for fiscal 2020, 2021 and 2022. The following information represents disaggregation of revenues for revenues from contracts with customers, by goods or services category and geographical location. Millions of yen Fiscal Year ended March 31, 2020 Reportable segments Corporate Real Estate PE Environment Insurance Banking and Aircraft and Goods or services category Sales of goods ¥ 11,536 ¥ 4,261 ¥ 261,475 ¥ 4,796 ¥ 0 ¥ 0 ¥ 2,680 Real estate sales 0 117,969 0 0 0 0 0 Asset management and servicing 347 7,453 36 0 0 167 21 Automobile related services 60,782 0 0 232 0 0 0 Facilities operation 0 67,396 0 0 0 0 0 Environment and energy services 2,911 0 0 138,380 0 0 0 Real estate management and brokerage 0 106,375 0 0 0 0 0 Real estate contract work 0 89,522 0 0 0 0 0 Other 46,970 3,940 32,429 2,489 1,023 3,124 10,195 Total revenues from contracts with customers 122,546 396,916 293,940 145,897 1,023 3,291 12,896 Geographical location Japan 121,845 396,916 293,940 143,623 1,023 3,291 5,678 The Americas 0 0 0 0 0 0 0 Other 701 0 0 2,274 0 0 7,218 Total revenues from contracts with customers 122,546 396,916 293,940 145,897 1,023 3,291 12,896 Other revenues * 306,415 71,170 2,425 1,601 370,364 81,064 51,754 Segment revenues/Total revenues ¥ 428,961 ¥ 468,086 ¥ 296,365 ¥ 147,498 ¥ 371,387 ¥ 84,355 ¥ 64,650 Millions of yen Fiscal Year ended March 31, 2020 Reportable segments Corporate revenue and intersegment transactions Total revenues ORIX USA ORIX Asia and Total Goods or services category Sales of goods ¥ 965 ¥ 0 ¥ 487 ¥ 286,200 ¥ 1,358 ¥ 287,558 Real estate sales 984 0 0 118,953 0 118,953 Asset management and servicing 24,248 149,675 4 181,951 (100 ) 181,851 Automobile related services 0 0 16,950 77,964 23 77,987 Facilities operation 0 0 363 67,759 1,538 69,297 Environment and energy services 963 0 0 142,254 (722 ) 141,532 Real estate management and brokerage 0 0 0 106,375 (2,265 ) 104,110 Real estate contract work 0 0 0 89,522 (556 ) 88,966 Other 5,769 369 981 107,289 (3,230 ) 104,059 Total revenues from contracts with customers 32,929 150,044 18,785 1,178,267 (3,954 ) 1,174,313 Geographical location Japan 0 0 28 966,344 (1,703 ) 964,641 The Americas 32,929 67,050 0 99,979 0 99,979 Other 0 82,994 18,757 111,944 (2,251 ) 109,693 Total revenues from contracts with customers 32,929 150,044 18,785 1,178,267 (3,954 ) 1,174,313 Other revenues * 102,780 (1,520 ) 119,012 1,105,065 951 1,106,016 Segment revenues/Total revenues ¥ 135,709 ¥ 148,524 ¥ 137,797 ¥ 2,283,332 ¥ (3,003 ) ¥ 2,280,329 Millions of yen Fiscal Year ended March 31, 2021 Reportable segments Corporate Real Estate PE Environment Insurance Banking and Aircraft and Goods or services category Sales of goods ¥ 10,348 ¥ 2,836 ¥ 301,732 ¥ 3,816 ¥ 0 ¥ 0 ¥ 0 Real estate sales 0 88,512 0 0 0 0 0 Asset management and servicing 354 6,216 33 45 0 207 23 Automobile related services 59,903 0 0 225 0 0 0 Facilities operation 0 23,301 0 0 0 0 0 Environment and energy services 3,060 0 0 134,424 0 0 0 Real estate management and brokerage 0 103,457 0 0 0 0 0 Real estate contract work 0 80,455 0 0 0 0 0 Other 49,548 1,505 21,997 1,667 1,667 4,771 3,317 Total revenues from contracts with customers 123,213 306,282 323,762 140,177 1,667 4,978 3,340 Geographical location Japan 122,232 306,282 323,762 130,077 1,667 4,978 1,194 The Americas 0 0 0 0 0 0 0 Other 981 0 0 10,100 0 0 2,146 Total revenues from contracts with customers 123,213 306,282 323,762 140,177 1,667 4,978 3,340 Other revenues * 307,802 53,516 7,460 1,794 490,227 78,746 28,277 Segment revenues/Total revenues ¥ 431,015 ¥ 359,798 ¥ 331,222 ¥ 141,971 ¥ 491,894 ¥ 83,724 ¥ 31,617 Millions of yen Fiscal Year ended March 31, 2021 Reportable segments Corporate revenue and intersegment transactions Total revenues ORIX USA ORIX Asia and Total Goods or services category Sales of goods ¥ 2,407 ¥ 0 ¥ 65 ¥ 321,204 ¥ 679 ¥ 321,883 Real estate sales 558 0 0 89,070 0 89,070 Asset management and servicing 16,099 150,302 0 173,279 (88 ) 173,191 Automobile related services 0 0 11,874 72,002 (2 ) 72,000 Facilities operation 0 0 0 23,301 510 23,811 Environment and energy services 960 0 0 138,444 (1,433 ) 137,011 Real estate management and brokerage 0 0 0 103,457 (1,515 ) 101,942 Real estate contract work 0 0 0 80,455 (276 ) 80,179 Other 3,254 86 613 88,425 43 88,468 Total revenues from contracts with customers 23,278 150,388 12,552 1,089,637 (2,082 ) 1,087,555 Geographical location Japan 0 0 1 890,193 (1,956 ) 888,237 The Americas 23,278 62,249 0 85,527 0 85,527 Other 0 88,139 12,551 113,917 (126 ) 113,791 Total revenues from contracts with customers 23,278 150,388 12,552 1,089,637 (2,082 ) 1,087,555 Other revenues * 114,739 10,410 115,757 1,208,728 (3,575 ) 1,205,153 Segment revenues/Total revenues ¥ 138,017 ¥ 160,798 ¥ 128,309 ¥ 2,298,365 ¥ (5,657 ) ¥ 2,292,708 Millions of yen Fiscal Year ended March 31, 2022 Reportable segments Corporate Real Estate PE Environment Insurance Banking and Aircraft and Goods or services category Sales of goods ¥ 9,741 ¥ 2,521 ¥ 320,104 ¥ 3,861 ¥ 0 ¥ 0 ¥ 0 Real estate sales 0 94,617 0 0 0 0 0 Asset management and servicing 347 6,107 20 93 0 326 38 Automobile related services 62,897 0 0 228 0 0 0 Facilities operation 0 31,421 0 0 0 0 0 Environment and energy services 2,911 0 76 154,081 0 0 0 Real estate management and brokerage 0 102,689 0 0 0 0 0 Real estate contract work 0 93,265 0 0 0 0 0 Other 52,489 1,393 28,877 903 2,062 6,101 7,401 Total revenues from contracts with customers 128,385 332,013 349,077 159,166 2,062 6,427 7,439 Geographical location Japan 127,918 332,013 349,077 154,311 2,062 6,427 3,642 The Americas 0 0 0 0 0 0 0 Other 467 0 0 4,855 0 0 3,797 Total revenues from contracts with customers 128,385 332,013 349,077 159,166 2,062 6,427 7,439 Other revenues * 316,953 58,675 36,662 1,066 484,642 78,394 31,200 Segment revenues/Total revenues ¥ 445,338 ¥ 390,688 ¥ 385,739 ¥ 160,232 ¥ 486,704 ¥ 84,821 ¥ 38,639 Millions of yen Fiscal Year ended March 31, 2022 Reportable segments Corporate revenue and intersegment transactions Total revenues ORIX USA ORIX Asia and Total Goods or services category Sales of goods ¥ 2,251 ¥ 0 ¥ 577 ¥ 339,055 ¥ 1,642 ¥ 340,697 Real estate sales 84 0 0 94,701 (1 ) 94,700 Asset management and servicing 18,880 219,132 0 244,943 (56 ) 244,887 Automobile related services 0 0 13,630 76,755 17 76,772 Facilities operation 0 0 0 31,421 742 32,163 Environment and energy services 1,187 0 0 158,255 (1,928 ) 156,327 Real estate management and brokerage 0 0 0 102,689 (2,385 ) 100,304 Real estate contract work 0 0 0 93,265 (266 ) 92,999 Other 4,698 75 905 104,904 2,345 107,249 Total revenues from contracts with customers 27,100 219,207 15,112 1,245,988 110 1,246,098 Geographical location Japan 0 0 0 975,450 219 975,669 The Americas 27,100 77,647 0 104,747 0 104,747 Other 0 141,560 15,112 165,791 (109 ) 165,682 Total revenues from contracts with customers 27,100 219,207 15,112 1,245,988 110 1,246,098 Other revenues * 134,244 1,905 132,943 1,276,684 (2,417 ) 1,274,267 Segment revenues/Total revenues ¥ 161,344 ¥ 221,112 ¥ 148,055 ¥ 2,522,672 ¥ (2,307 ) ¥ 2,520,365 * 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 | 12 Months Ended |
Mar. 31, 2022 | |
Subsequent Events [Abstract] | |
Subsequent Events | 33. Subsequent Events On May 11, 2022, the Company’s Board of Directors has passed a resolution approving the matters required under Article 156, Paragraph 1 of the Companies Act for the repurchase of its own shares for capital efficiency and shareholder returns, pursuant to Articles 34 of the Articles of Incorporation, which is in accordance with Article 459, Paragraph 1 Companies Act. Details of Share Repurchase • Class of shares to be repurchased: Common shares • Total number of shares: Up to 40,000,000 shares (approximately 3.3% of the total outstanding shares (excluding treasury shares)) • Total purchase price of shares to be repurchased: Up to 50 billion yen • Repurchase period: From May 18, 2022 to March 31, 2023 • Method of share repurchase: Market purchases based on the discretionary dealing contract regarding repurchase of own shares |
Schedule II.-Valuation and Qual
Schedule II.-Valuation and Qualifying Accounts and Reserves | 12 Months Ended |
Mar. 31, 2022 | |
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract] | |
Schedule II.-Valuation and Qualifying Accounts and Reserves | Schedule II.—Valuation and Qualifying Accounts and Reserves ORIX Corporation and Subsidiaries Millions of yen Year Ended March 31, 2020 Description Balance at beginning of period Acquisitions Addition: Charged to costs and expenses Deduction Translation adjustment Balance at end of period Restructuring cost: Severance and other benefits to terminated employees ¥ 2,049 ¥ 0 ¥ 73 ¥ (1,365 ) ¥ (67 ) ¥ 690 Total ¥ 2,049 ¥ 0 ¥ 73 ¥ (1,365 ) ¥ (67 ) ¥ 690 Millions of yen Year Ended March 31, 2021 Description Balance at beginning of period Acquisitions Addition: Charged to costs and expenses Deduction Translation adjustment Balance at end of period Restructuring cost: Severance and other benefits to terminated employees ¥ 690 ¥ 0 ¥ 0 ¥ (474 ) ¥ 36 ¥ 252 Total ¥ 690 ¥ 0 ¥ 0 ¥ (474 ) ¥ 36 ¥ 252 Millions of yen Year Ended March 31, 2022 Description Balance at beginning of period Acquisitions Addition: Charged to costs and expenses Deduction Translation adjustment Balance at end of period Restructuring cost: Severance and other benefits to terminated employees ¥ 252 ¥ 0 ¥ 2,781 ¥ (187 ) ¥ 4 ¥ 2,850 Total ¥ 252 ¥ 0 ¥ 2,781 ¥ (187 ) ¥ 4 ¥ 2,850 Millions of yen Description Balance at Acquisitions Addition: Charged to Deduction*1 Other*2 Balance at Deferred tax assets: Valuation allowance Year ended March 31, 2020 ¥ 13,156 ¥ 522 ¥ 3,401 ¥ (1,677 ) ¥ (33 ) ¥ 15,369 Year ended March 31, 2021 ¥ 15,369 ¥ 805 ¥ 7,458 ¥ (2,487 ) ¥ 415 ¥ 21,560 Year ended March 31, 2022 ¥ 21,560 ¥ 1,403 ¥ 13,414 ¥ (2,445 ) ¥ 1,223 ¥ 35,155 *1 The amount of deduction includes benefits recognized in earnings, expiration of loss carryforwards and sales of subsidiaries. The amounts of benefits recognized in earnings were ¥890 million in fiscal 2020, ¥553 million in fiscal 2021 and ¥1,742 million in fiscal 2022. *2 The amount of other includes translation adjustment and the effect of changes in statutory tax rate. |
Significant Accounting and Re_2
Significant Accounting and Reporting Policies (Policies) | 12 Months Ended |
Mar. 31, 2022 | |
Accounting Policies [Abstract] | |
Basis of presenting financial statements | (a) Basis of presenting financial statements The Company and its subsidiaries in Japan maintain their books in conformity with Japanese accounting practices, which differ in certain respects from U.S. GAAP. The accompanying consolidated financial statements have been prepared in conformity with U.S. GAAP and, therefore, reflect certain adjustments to the books and records of the Company and its subsidiaries. The principal adjustments relate to initial direct costs to originate leases and loans, accounting for allowance for credit losses, use of a straight-line basis of depreciation for operating lease assets, deferral of life insurance policy acquisition costs, calculation of insurance policy liabilities, accounting for goodwill and other intangible assets in business combinations, accounting for pension plans, accounting for sales of the parent’s ownership interest in subsidiaries, classification in the statements of cash flows, accounting for transfer of financial assets, accounting for investment in securities, accounting for fair value option, accounting for lessee’s lease and reflection of the income tax effect on such adjustments. |
Principles of consolidation | (b) Principles of consolidation The consolidated financial statements include the accounts of the Company and all of its subsidiaries. VIEs, for which the Company and its subsidiaries are the primary beneficiaries, are also included in the consolidated financial statements. 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. On the other hand, 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. Investments in affiliates, of which the Company has 20% – 50% ownership or has the ability to exercise significant influence, are accounted for by using the equity method. When the Company holds majority voting interests of an entity but noncontrolling shareholders hold substantive participating rights to make decisions on activities that occur over the ordinary course of the business, the equity method is applied. Investments in affiliates are recorded at cost plus/minus the Company and its subsidiaries’ portion of equity in undistributed earnings. If the value of an investment has declined and is judged to be other-than-temporary, the investment is written down to its fair value. And when an affiliate issues stocks, which price per share is more or less than the Company and its subsidiaries’ average carrying amount per share, to unrelated third parties, 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. A certain overseas subsidiary consolidates subsidiaries determined as investment companies under ASC 946 (“Financial Services—Investment Companies”). Investments held by the investment company subsidiaries are carried at fair value with changes in fair value recognized in earnings. 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 | (c) 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 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 and the allowance for credit losses (including the allowance for off-balance In addition, we carefully considered the future outlook regarding the spread of COVID-19 COVID-19 |
Foreign currencies translation | (d) 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 | (e) 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, 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. When lease payment is variable, it is accounted for as income in profit or loss in the period when the changes in facts and circumstances on which the variable payment is based occur. When providing leasing services, the Company and its subsidiaries simultaneously conduct supplementary businesses, such as handling taxes and paying insurance on leased assets on behalf of lessees. The compensations for those lessor costs received from lessees are recognized in revenues from finance leases and those costs are recognized in other (income) and expense. 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 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. (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, for net investment in leases and installment loans, past-due past-due past-due past-due past-due past-due past-due non-accrual non-accrual Operating leases — COVID-19 In providing leasing services, the Company and its subsidiaries simultaneously conduct supplementary businesses, such as handling taxes and paying insurance on leased assets on behalf of lessees. The compensations for those lessor costs received from lessees are recognized in operating lease revenues and those costs are recognized in costs of operating leases. Investment in operating leases is recorded at cost less accumulated depreciation. In addition, operating lease assets are depreciated over their estimated useful lives mainly on a straight-line basis. The estimated average useful lives of principal operating lease assets classified as transportation equipment is 7 years, measuring and information-related equipment is 4 years, real estate (other than land) is 31 years and other is 10 years. Depreciation expenses are included in costs of operating leases. Gains or losses arising from dispositions of operating lease assets are included in operating lease revenues. 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 | (f) 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 net investment in leases and probable loan losses | (g) Allowance for doubtful receivables on net investment in leases and probable loan losses The allowance for doubtful receivables on net investment in 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 net investment in 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. |
Allowance for credit losses | (h) Allowance for credit losses Accounting Standards Update 2016-13 The allowance for credit losses estimates all credit losses expected to occur in future over the remaining life of net investment in leases, financial assets measured at amortized cost, such as installment loans, held-to-maturity Developing the allowance for credit 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, prior charge-off The Company and its subsidiaries estimate the allowance for credit losses by using various methods according to these estimates and judgments. When certain financial assets have similar risk characteristics to other financial assets, these financial assets are collectively evaluated as a pool. On the contrary, when financial assets do not have similar risk characteristics to other financial assets, the financial assets are evaluated individually. The Company and its subsidiaries select the most appropriate calculation method based on available information, such as the nature and related risk characteristics on financial assets, the prior 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, etc. In addition, if the entity has a present contractual obligation to extend the credit and the obligation is not unconditionally cancelable by the entity, credit losses related the loan commitments of card loans and installment loans and financial guarantees are in the scope of the allowance for credit losses. For the loan commitments of card loans and installment loans, credit losses are recognized on the loan commitments for the portion expected to be drawn. For financial guarantees, the allowance is recognized for the contingent obligation which generates credit risk exposures. These allowance for off-balance off-balance |
Impairment of long-lived assets | (i) 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 depreciated or amortized, consisting primarily of office buildings, condominiums, aircraft, ships, mega solar facilities 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, and others 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 | (j) 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 fair value 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 For available-for-sale non-credit losses is recognized in other comprehensive income (loss), net of applicable income taxes. In estimating an allowance for credit losses, the Company and its subsidiaries consider that credit losses exist when the present value of estimated cash flows is less than the amortized cost basis. When the Company and its subsidiaries intend to sell the debt securities for which an allowance for credit losses is previously established or it is more likely than not that the Company and its subsidiaries will be required to sell the debt securities before recovery of the amortized cost basis, the allowance for credit losses is fully written off and the amortized cost is reduced to the fair value after recognizing additional impairment in earnings. In addition, the Company and its subsidiaries recognize in earnings the full difference between the amortized cost and the fair value of the debt securities by direct write-down, without any allowance for credit losses, if the debt securities are expected to be sold and the fair value is less than the amortized cost. Held-to-maturity Held-to-maturity |
Income taxes | (k) Income taxes 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 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 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 in Japan for National Corporation tax purposes. The consolidated tax return in Japan will shift to the Japanese Group Relief System on April 1, 2022. |
Securitized assets | (l) 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 special purpose entities (hereinafter, “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 | (m) 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 derivatives are qualified for hedge accounting, 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 net investment in a foreign operation, changes in the fair value of the derivative are recorded in the foreign currency translation adjustments account within other comprehensive income (loss), net of applicable income taxes. 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. For all hedging relationships that are designated and qualified for hedge accounting, at the inception of the hedge, 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 | (n) 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 | (o) 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. |
Cash and cash equivalents | (p) 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. |
Property under facility operations | (q) 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 coal-biomass co-fired power plants), 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. Depreciation expenses in fiscal 2020, 2021 and 2022 were ¥27,147 million, ¥30,448 million and ¥29,871 million, respectively. Accumulated depreciation was ¥132,184 million and ¥147,459 million as of March 31, 2021 and 2022, respectively. Estimated useful lives range up to 50 years for buildings, up to 60 years for structures and up to 50 years for others. |
Inventories | (r) 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, 2021 and 2022, residential condominiums under development were ¥57,502 million and ¥62,414 million, respectively, and completed residential condominiums and merchandise for sale were ¥84,654 million and ¥77,149 million, respectively. The Company and its subsidiaries recorded ¥863 million, ¥2,510 million and ¥ 10,492 million of write-downs principally on completed residential condominiums and merchandise for sale for fiscal 2020, 2021 and 2022, respectively, primarily resulting from a decrease in expected sales price. These write-downs were recorded in costs of goods and real estate sold and included in Real Estate segment, PE Investment and Concession segment, Corporate Financial Services and Maintenance Leasing segment, Environment and Energy segment, and ORIX USA segment. |
Office facilities | (s) 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. Depreciation expenses in fiscal 2020, 2021 and 2022 were ¥7,714 million, ¥8,269 million and ¥9,083 million, respectively. Accumulated depreciation was ¥68,524 million and ¥73,063 million as of March 31, 2021 and 2022, respectively. Estimated useful lives range up to 62 years for buildings and structures and up to 25 years for machinery and equipment. |
Right-of-use assets | (t) Right-of-use The Company and its subsidiaries record the Right-of-use ROU assets are consisted of the amount of the initial measurement of the lease liability and any lease payments made to the lessor at or before the commencement date and stated at cost less accumulated amortization. The initial measurement of the lease liability is at the present value of the lease payments not yet paid, discounted using the lessee’s incremental borrowing rate at lease commencement. 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 | (u) 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, prepaid expenses for property tax, maintenance fees and insurance premiums in relation to lease contracts, servicing assets, derivative assets, contract assets related to real estate contract works and deferred tax assets. |
Business combinations | (v) Business combinations 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. |
Goodwill and other intangible assets | (w) Goodwill and other intangible assets 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 whenever 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 quantitative goodwill impairment test. The Company and its subsidiaries perform the qualitative assessment for some goodwill but bypass the qualitative assessment and proceed directly to the quantitative impairment test for other goodwill. For the goodwill for which the qualitative assessment is performed, if, after assessing the totality of events or circumstances, the Company and/or subsidiaries determine that it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, then the Company and/or subsidiaries do not perform the quantitative goodwill impairment test. However, if the Company and/or subsidiaries conclude otherwise or determine to bypass the qualitative assessment, the Company and/or subsidiaries proceed to perform the quantitative goodwill impairment test. The quantitative goodwill impairment test calculates the fair value of the reporting unit and compares the fair value with the carrying amount of the reporting unit. If the fair value of the reporting unit falls below its carrying amount, an impairment loss is recognized in an amount equal to the difference. The Company and its subsidiaries test the goodwill either at the operating segment level or one level below the operating segments. 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 impairment test 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. |
Other Liabilities | (x) 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 and allowance for credit losses on off-balance |
Earnings per share | (y) 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. |
Redeemable noncontrolling interests | (z) 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. |
New accounting pronouncements | (aa) New accounting pronouncements In August 2018, Accounting Standards Update 2018-12 In December 2019, Accounting Standards Update 2019-12 method investment, the exception to the ability not to recognize a deferred tax liability for a foreign subsidiary when a foreign equity method investment becomes a subsidiary, and other exceptions. This update also simplifies certain other elements of the accounting for income taxes. The income tax simplifications related to changes in ownership of foreign equity method investments and foreign subsidiaries shall be applied on a modified retrospective basis through a cumulative-effect adjustment to retained earnings as of the beginning of the fiscal year of adoption. The other amendments in this update shall be applied on a retrospective basis to all periods presented, or on a modified retrospective basis through a cumulative-effect adjustment to retained earnings as of the beginning of the fiscal year of adoption, or on a prospective basis. The Company and its subsidiaries adopted this update on April 1, 2021. The effects of adopting this update on the Company and its subsidiaries’ financial position at the adoption date were a decrease of In January 2020, Accounting Standards Update 2020-01 In March 2020, Accounting Standards Update 2020-04 In July 2021, Accounting Standards Update 2021-05 2016-02 date that an entity first applies the amendments. Generally, the effect of adopting this update on the Company and its subsidiaries’ results of operations or financial position will depend on future transactions. In October 2021, Accounting Standards Update 2021-08 (“Accounting for Contract Assets and Contract Liabilities from Contracts with Customers”—ASC 805 (“Business Combinations”)) was issued. This update requires us to apply ASC 606 (“Revenue from Contracts with Customers”) to recognize and measure contract assets and contract liabilities acquired in a business combination. This update is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2022 and early adoption is permitted. This update is applied prospectively to business combinations occurring on or after the date that an entity first applies the amendments. The Company and its subsidiaries will adopt this update on April 1, 2023. The Company and its subsidiaries are currently evaluating the effect that the adoption of this update will have on the Company and its subsidiaries’ results of operations or financial position. In November 2021, Accounting Standards Update 2021-10 In March 2022, Accounting Standards Update 2022-02 (“Troubled Debt Restructurings and Vintage Disclosures”—ASC 326 (“Financial Instruments—Credit Losses”)) was issued. This update eliminates the recognition and measurement guidance on troubled debt restructuring (hereinafter, “TDR”) and, instead, requires that an entity evaluate whether certain modifications on contractual terms made to borrowers experiencing financial difficulty should be accounted for as a new loan or a continuation of an existing loan. Additionally, enhanced disclosures for certain modifications made to borrowers experiencing financial difficulty are newly required. In addition, this update also requires that an entity disclose current-period gross write-offs by year of origination for financing receivables and net investments in leases within the scope of Subtopic 326-20 (“Financial Instruments—Credit Losses—Measured at Amortized Cost”) in the existing vintage disclosure, where an entity discloses the amortized cost basis by credit quality indicator and class of financing receivable by year of origination. This update is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2022 and early adoption is permitted. This update should be applied prospectively from the beginning of the fiscal year of adoption, including interim periods, except for the optional transition method related to the recognition and measurement of TDRs for which an entity may elect to apply a modified retrospective transition method, resulting in a cumulative-effect adjustment to retained earnings as of the beginning of the fiscal year of adoption. The Company and its subsidiaries will adopt this update on April 1, 2023. The Company and its subsidiaries are currently evaluating the effect that the adoption of this update will have on the Company and its subsidiaries’ results of operations or financial position, as well as changes in disclosures required by this update. |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
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, 2021 and 2022: March 31, 2021 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 ¥ 63,272 ¥ 0 ¥ 63,272 ¥ 0 Trading debt securities 2,654 0 2,654 0 Available-for-sale 2,003,917 6,012 1,864,448 133,457 Japanese and foreign government bond securities*2 821,158 3,105 818,053 0 Japanese prefectural and foreign municipal bond securities 276,276 0 273,515 2,761 Corporate debt securities*3 742,251 2,907 738,323 1,021 CMBS and RMBS in the Americas 34,457 0 34,457 0 Other asset-backed securities and debt securities 129,775 0 100 129,675 Equity securities*4*5 396,465 82,039 223,016 91,410 Derivative assets: 22,696 352 8,521 13,823 Interest rate swap agreements 1,867 0 1,867 0 Options held/written and other 19,504 0 5,681 13,823 Futures, foreign exchange contracts 1,179 352 827 0 Foreign currency swap agreements 146 0 146 0 Netting*6 (1,944 ) 0 0 0 Net derivative assets 20,752 0 0 0 Other assets: 6,297 0 0 6,297 Reinsurance recoverables*7 6,297 0 0 6,297 Total ¥ 2,495,301 ¥ 88,403 ¥ 2,161,911 ¥ 244,987 Liabilities: Derivative liabilities: ¥ 71,034 ¥ 475 ¥ 70,526 ¥ 33 Interest rate swap agreements 23,818 0 23,818 0 Options held/written and other 17,009 0 16,976 33 Futures, foreign exchange contracts 25,739 475 25,264 0 Foreign currency swap agreements 4,459 0 4,459 0 Credit derivatives held 9 0 9 0 Netting*6 (1,944 ) 0 0 0 Net derivative Liabilities 69,090 0 0 0 Policy Liabilities and Policy Account Balances: 266,422 0 0 266,422 Variable annuity and variable life insurance contracts*8 266,422 0 0 266,422 Total ¥ 337,456 ¥ 475 ¥ 70,526 ¥ 266,455 March 31, 2022 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 ¥ 151,601 ¥ 0 ¥ 151,601 ¥ 0 Trading debt securities 2,503 0 2,503 0 Available-for-sale 2,174,891 1,095 2,032,736 141,060 Japanese and foreign government bond securities*2 832,613 1,095 831,518 0 Japanese prefectural and foreign municipal bond securities 325,604 0 322,551 3,053 Corporate debt securities*3 849,560 0 848,863 697 CMBS and RMBS in the Americas 28,732 0 28,732 0 Other asset-backed securities and debt securities 138,382 0 1,072 137,310 Equity securities*4*5 385,271 112,200 160,099 112,972 Derivative assets: 51,366 292 46,214 4,860 Interest rate swap agreements 9,570 0 9,570 0 Options held/written and other 25,664 0 20,804 4,860 Futures, foreign exchange contracts 16,006 292 15,714 0 Foreign currency swap agreements 126 0 126 0 Netting*6 (20,333 ) 0 0 0 Net derivative assets 31,033 0 0 0 Other assets: 5,214 0 0 5,214 Reinsurance recoverables*7 5,214 0 0 5,214 Total ¥ 2,770,846 ¥ 113,587 ¥ 2,393,153 ¥ 264,106 Liabilities: Derivative liabilities: ¥ 105,705 ¥ 2,026 ¥ 95,047 ¥ 8,632 Interest rate swap agreements 8,182 0 8,182 0 Options held/written and other 21,562 0 12,930 8,632 Futures, foreign exchange contracts 71,443 2,026 69,417 0 Foreign currency swap agreements 4,518 0 4,518 0 Netting*6 (20,333 ) 0 0 0 Net derivative Liabilities 85,372 0 0 0 Policy Liabilities and Policy Account Balances: 198,905 0 0 198,905 Variable annuity and variable life insurance contracts*8 198,905 0 0 198,905 Total ¥ 304,610 ¥ 2,026 ¥ 95,047 ¥ 207,537 *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”), Federal Home Loan Mortgage Corporation (“Freddie Mac”) and institutional investors. Included in “Other (income) and expense” in the consolidated statements of income were a gain of ¥5,220 million, losses of ¥3,260 million and ¥2,982 million from the change in the fair value of the loans for fiscal 2020, 2021 and 2022, respectively. No gains or losses were recognized in earnings during fiscal 2020, 2021 and 2022 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, 2021, were ¥60,556 million and ¥63,272 million, respectively, and the amount of the aggregate fair value exceeded the amount of aggregate unpaid principal balance by ¥2,716 million. The amounts of aggregate unpaid principal balance and aggregate fair value of the loans held for sale as of March 31, 202 2 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, and others included in equity securities. Included in “Gains on investment securities and dividends” and “Life insurance premiums and related investment income” in the consolidated statements of income were gains of ¥1,225 million, ¥3,187 million and ¥1,199 million from the change in the fair value of those investments for fiscal 2020, 2021 and 2022, respectively. The amounts of aggregate fair value elected the fair value option were ¥4,940 million and ¥11,709 million as of March 31, 2021 and 2022, respectively. *5 The amounts of investment funds measured at net asset value per share which are not included in the above tables were ¥13,737 million and ¥25,999 million as of March 31, 2021 and 2022, 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 ¥6,297 million and ¥5,214 million as of March 31, 2021 and 2022, respectively. For the effect of changes in the fair value of those reinsurance contracts on earnings for fiscal 2020, 2021 and 2022, see Note 2 4 *8 Certain subsidiaries elected the fair value option for the entire variable annuity and variable life insurance contracts held. 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 ¥266,422 million and ¥198,905 million as of March 31, 2021 and 2022, respectively. For the effect of changes in the fair value of the variable annuity and variable life insurance contracts on earnings for fiscal 2020, 2021 and 2022, see Note 2 4 |
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) in fiscal 2020, 2021 and 2022: 2020 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 March 31, Change in unrealized gains or losses included in earnings for assets and liabilities still held at March 31, 2020*1 Included in earnings*1 Included in other comprehensive income*2 Total Available-for-sale ¥ 100,447 ¥ 1,291 ¥ (13,721 ) ¥ (12,430 ) ¥ 41,270 ¥ (3,925 ) ¥ (34,018 ) ¥ (2,991 ) ¥ 88,353 ¥ 131 Japanese prefectural and foreign municipal bond securities 2,888 0 (56 ) (56 ) 0 0 0 0 2,832 0 Corporate debt securities 7,158 0 (8 ) (8 ) 900 0 (1,065 ) (2,991 ) 3,994 0 Other asset-backed securities and debt securities 90,401 1,291 (13,657 ) (12,366 ) 40,370 (3,925 ) (32,953 ) 0 81,527 131 Equity securities 61,193 8,197 (1,641 ) 6,556 31,725 (10,108 ) (5,465 ) 0 83,901 8,033 Investment funds 61,193 8,197 (1,641 ) 6,556 31,725 (10,108 ) (5,465 ) 0 83,901 8,033 Derivative assets and liabilities (net) 5,272 10,402 (192 ) 10,210 3,748 0 0 0 19,230 10,402 Options held/written and other 5,272 10,402 (192 ) 10,210 3,748 0 0 0 19,230 10,402 Other asset 12,449 2,937 0 2,937 3,053 0 (233 ) 0 18,206 2,937 Reinsurance recoverables*5 12,449 2,937 0 2,937 3,053 0 (233 ) 0 18,206 2,937 Policy Liabilities and Policy Account Balances 360,198 4,802 1,215 6,017 0 0 (53,442 ) 0 300,739 4,802 Variable annuity and variable life insurance contracts*6 360,198 4,802 1,215 6,017 0 0 (53,442 ) 0 300,739 4,802 2021 Millions of yen Balance at April 1, 2020 Gains or losses (realized/unrealized) Purchases*3 Sales Settlements*4 Transfers in and/ or out of Level 3 (net) Balance at March 31, Change in unrealized gains or losses included in earnings for assets and liabilities still held at March 31, 2021*1 Change in unrealized gains or losses included in other assets and liabilities still held at March 31, 2021*2 Included earnings*1 Included in other comprehensive income*2 Total Available-for-sale ¥ 88,353 ¥ (1,065 ) ¥ 14,870 ¥ 13,805 ¥ 51,270 ¥ (12,890 ) ¥ (5,187 ) ¥ (1,894 ) ¥ 133,457 ¥ (1,228 ) ¥ 14,729 Japanese prefectural and foreign municipal bond securities 2,832 (115 ) 44 (71 ) 0 0 0 0 2,761 (115 ) 44 Corporate debt securities 3,994 0 1 1 0 0 (974 ) (2,000 ) 1,021 0 1 Other asset-backed securities and debt securities 81,527 (950 ) 14,825 13,875 51,270 (12,890 ) (4,213 ) 106 129,675 (1,113 ) 14,684 Equity securities 83,901 14,304 1,765 16,069 2,001 (4,718 ) (5,518 ) (325 ) 91,410 14,042 1,769 Investment funds 83,901 14,304 1,765 16,069 2,001 (4,718 ) (5,518 ) (325 ) 91,410 14,042 1,769 Derivative assets and liabilities (net) 19,230 (5,474 ) 34 (5,440 ) 0 0 0 0 13,790 (5,474 ) 34 Options held/written and other 19,230 (5,474 ) 34 (5,440 ) 0 0 0 0 13,790 (5,474 ) 34 Other asset 18,206 (14,201 ) 0 (14,201 ) 2,713 0 (421 ) 0 6,297 (14,201 ) 0 Reinsurance recoverables*5 18,206 (14,201 ) 0 (14,201 ) 2,713 0 (421 ) 0 6,297 (14,201 ) 0 Policy Liabilities and Policy Account Balances 300,739 (42,066 ) (1,248 ) (43,314 ) 0 0 (77,631 ) 0 266,422 (42,066 ) (1,248 ) Variable annuity and variable life insurance contracts*6 300,739 (42,066 ) (1,248 ) (43,314 ) 0 0 (77,631 ) 0 266,422 (42,066 ) (1,248 ) 2022 Millions of yen Balance at April 1, 2021 Gains or losses (realized/unrealized) Purchases*3 Sales Settlements*4 Transfers in and/ or out of Level 3 (net) Balance at March 31, Change in unrealized gains or losses included in earnings for assets and liabilities still held at March 31, 2022*1 Change in unrealized gains or losses included in other assets and liabilities still held at March 31, 2022*2 Included in earnings*1 Included in other comprehensive income*2 Total Available-for-sale ¥ 133,457 ¥ 7,041 ¥ 6,941 ¥ 13,982 ¥ 51,644 ¥ (9,465 ) ¥ (48,558 ) ¥ 0 ¥ 141,060 ¥ 2,445 ¥ 7,116 Japanese prefectural and foreign municipal bond securities 2,761 0 292 292 0 0 0 0 3,053 0 291 Corporate debt securities 1,021 0 (1 ) (1 ) 0 0 (323 ) 0 697 0 (1 ) Other asset-backed securities and debt securities 129,675 7,041 6,650 13,691 51,644 (9,465 ) (48,235 ) 0 137,310 2,445 6,826 Equity securities 91,410 16,350 8,779 25,129 24,606 (26,795 ) (768 ) (610 ) 112,972 4,555 8,743 Investment funds, and others 91,410 16,350 8,779 25,129 24,606 (26,795 ) (768 ) (610 ) 112,972 4,555 8,743 Derivative assets and liabilities (net) 13,790 (18,340 ) 778 (17,562 ) 0 0 0 0 (3,772 ) (18,340 ) 778 Options held/written and other 13,790 (18,340 ) 778 (17,562 ) 0 0 0 0 (3,772 ) (18,340 ) 778 Other asset 6,297 (2,146 ) 0 (2,146 ) 1,835 0 (772 ) 0 5,214 (2,146 ) 0 Reinsurance recoverables*5 6,297 (2,146 ) 0 (2,146 ) 1,835 0 (772 ) 0 5,214 (2,146 ) 0 Policy Liabilities and Policy Account Balances 266,422 (1,743 ) (467 ) (2,210 ) 0 0 (69,727 ) 0 198,905 (1,743 ) (467 ) Variable annuity and variable life insurance contracts*6 266,422 (1,743 ) (467 ) (2,210 ) 0 0 (69,727 ) 0 198,905 (1,743 ) (467 ) *1 Principally, gains and losses from available-for-sale available-for-sale *2 Unrealized gains and losses from available-for-sale *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. |
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 fiscal 2021 and 2022. These assets are measured at fair value on a nonrecurring basis mainly to recognize impairment: 2021 Millions of yen Total Carrying Value in Consolidated Balance Quoted Prices in Active Markets for Identical (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Loans held for sale ¥ 238 ¥ 0 ¥ 238 ¥ 0 Real estate collateral-dependent loans (net of allowance for credit losses) 10,679 0 0 10,679 Investment in operating leases and property under facility operations 6,740 0 1,806 4,934 Certain equity securities 10,486 0 6,909 3,577 Certain investments in affiliates 11,413 8,799 0 2,614 Certain reporting units including goodwill 775 0 0 775 ¥ 40,331 ¥ 8,799 ¥ 8,953 ¥ 22,579 2022 Millions of yen Total Carrying Value in Consolidated Balance Quoted Prices in Active Markets for Identical (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Loans held for sale ¥ 235 ¥ 0 ¥ 235 ¥ 0 Real estate collateral-dependent loans (net of allowance for credit losses) 6,972 0 0 6,972 Investment in operating leases, property under facility operations, office facilities and other assets 59,847 0 262 59,585 Certain equity securities 9,451 0 9,451 0 Certain investments in affiliates 2,846 0 0 2,846 Certain reporting units including goodwill 192 0 0 192 Certain intangible assets acquired in business combinations 98,014 0 0 98,014 ¥ 177,557 ¥ 0 ¥ 9,948 ¥ 167,609 |
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, 2021 and 2022. March 31, 2021 Millions of Valuation technique(s) Significant unobservable inputs Range (Weighted average) Fair value Assets: Available-for-sale Japanese prefectural and foreign municipal bond securities ¥ 2,761 Appraisals/Broker quotes — — Corporate debt securities 1,021 Discounted cash flows Discount rate 0.3% – 1.8% (0.7%) Other asset-backed securities and debt securities 25,891 Discounted cash flows Discount rate 1.0% – 51.2% (11.1%) Probability of default 1.9% (1.9%) 103,784 Appraisals/Broker quotes — — Equity securities: Investment funds 78,134 Discounted cash flows WACC 13.1% – 18.7% (16.8%) EV/Terminal EBITDA multiple 7.3x – 10.5x (8.6x) Market multiples EV/Last twelve months EBITDA multiple 6.8x – 9.5x (7.8x) EV/Forward EBITDA multiple 7.6x – 11.6x (9.0x) EV/Precedent transaction last twelve months EBITDA multiple 7.7x – 10.9x (9.1x) 13,276 Appraisals/Broker quotes — — Derivative assets: Options held/written and other 13,762 Discounted cash flows Discount rate 12.0% – 33.0% (14.3%) 61 Appraisals/Broker quotes — — Other assets: Reinsurance recoverables 6,297 Discounted cash flows Discount rate 0.0% – 0.4% (0.1%) Mortality rate 0.0% – 100.0% (1.6%) Lapse rate 1.5% – 14.0% (6.7%) Annuitization rate (guaranteed minimum annuity benefit) 0.0% – 100.0% (100.0%) Total ¥ 244,987 March 31, 2021 Millions of Valuation technique(s) Significant unobservable inputs Range (Weighted average) Fair value Liabilities: Derivative liabilities: Options held/written and other ¥ 33 Appraisals/Broker quotes — — Policy liabilities and Policy Account Balances: Variable annuity and variable life insurance contracts 266,422 Discounted cash flows Discount rate 0.0% – 0.4% (0.1%) Mortality rate 0.0% – 100.0% (1.6%) Lapse rate 1.5% – 30.0% (6.9%) Annuitization rate (guaranteed minimum annuity benefit) 0.0% – 100.0% (76.7%) Total ¥ 266,455 March 31, 2022 Millions of Valuation technique(s) Significant unobservable inputs Range (Weighted average) Fair value Assets: Available-for-sale Japanese prefectural and foreign municipal bond securities ¥ 3,053 Appraisals/Broker quotes — — Corporate debt securities 697 Discounted cash flows Discount rate 0.4% – 0.7% (0.5%) Other asset-backed securities and debt securities 25,666 Discounted cash flows Discount rate 0.1% – 51.2% (10.6%) Probability of default 1.9% (1.9%) 111,644 Appraisals/Broker quotes — — Equity securities: Investment funds, and others 86,903 Discounted cash flows WACC 11.9% – 18.6% (16.3%) EV/Terminal EBITDA multiple 8.3x – 12.0x (9.9x) Market multiples EV/Last twelve months EBITDA multiple 6.4x – 12.6x (9.5x) EV/Forward EBITDA multiple 5.7x – 12.5x (9.4x) EV/Precedent transaction last twelve months EBITDA multiple 7.6x – 14.5x (10.3x) 26,069 Appraisals/Broker quotes — — Derivative assets: Options held/written and other 4,792 Discounted cash flows Discount rate 12.0% – 34.0% (14.9%) 68 Appraisals/Broker quotes — — Other assets: Reinsurance recoverables 5,214 Discounted cash flows Discount rate (0.2)% – 0.7% (0.2%) Mortality rate 0.0% – 100.0% (2.1%) Lapse rate 1.5% – 14.0% (5.5%) Annuitization rate (guaranteed minimum annuity benefit) 0.0% – 100.0% (100.0%) Total ¥ 264,106 Liabilities: Derivative liabilities: Options held/written and other 8,600 Discounted cash flows Discount rate 12.0% – 34.0% (14.9%) 32 Appraisals/Broker quotes — — Policy liabilities and Policy Account Balances: Variable annuity and variable life insurance contracts 198,905 Discounted cash flows Discount rate (0.2)% – 0.7% (0.2%) Mortality rate 0.0% – 100.0% (1.9%) Lapse rate 1.5% – 30.0% (6.2%) Annuitization rate (guaranteed minimum annuity benefit) 0.0% – 100.0% (71.8%) Total ¥ 207,537 |
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 fiscal 2021 and 2022. 2021 Millions of Valuation technique(s) Significant unobservable inputs Range (Weighted average) Fair value Assets: Real estate collateral-dependent loans (net of allowance for credit losses) ¥ 1,953 Direct capitalization Capitalization rate 5.1% – 7.0% (5.9%) 8,726 Appraisals — — Investment in operating leases and property under facility operations 4,934 Appraisals — — Certain equity securities 3,577 Appraisals — — Certain investments in affiliates 2,614 Appraisals — — Certain reporting units including goodwill 775 Market multiples EV/Precedent transaction last twelve months EBITDA multiple 5.5x (5.5x) ¥ 22,579 2022 Millions of Valuation technique(s) Significant unobservable inputs Range (Weighted average) Fair value Assets: Real estate collateral-dependent loans (net of allowance for credit losses) ¥ 1,511 Direct capitalization Capitalization rate 5.0% – 8.5% (6.1%) 5,461 Appraisals — — Investment in operating leases, property under facility operations, office facilities and other assets 32,328 Discounted cash flows Discount rate 5.2 ( 5.2 27,257 Appraisals — — Certain investments in affiliates 2,846 Appraisals — — Certain reporting units including goodwill 192 Discounted cash flows Discount rate 10.7% (10.7%) Certain intangible assets acquired in business combinations 98,014 Discounted cash flows Discount rate 10.9 ( 10.9 ¥ 167,609 |
Revenues from Contracts with _2
Revenues from Contracts with Customers (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
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 in fiscal 2020, 2021 and 2022. Millions of yen 2020 2021 2022 Goods or services category Sales of goods ¥ 287,558 ¥ 321,883 ¥ 340,697 Real estate sales 118,953 89,070 94,700 Asset management and servicing 181,851 173,191 244,887 Automobile related services 77,987 72,000 76,772 Facilities operation 69,297 23,811 32,163 Environment and energy services 141,532 137,011 156,327 Real estate management and brokerage 104,110 101,942 100,304 Real estate contract work 88,966 80,179 92,999 Other 104,059 88,468 107,249 Total revenues from contracts with customers 1,174,313 1,087,555 1,246,098 Other revenues* 8,210 3,247 5,904 Total sales of goods and real estate and services income ¥ 1,182,523 ¥ 1,090,802 ¥ 1,252,002 * Other revenues are not in the scope of revenue from contracts with customers. |
Summary of Costs of Goods and Real Estate Sold and Service Expense | The following table provides information about costs of goods sold and real estate sold and services expense in fiscal 2020, 2021 and 2022. Millions of yen 2020 2021 2022 Goods or services category Costs of goods sold ¥ 247,036 ¥ 272,657 ¥ 302,948 Costs of real estate sold 106,970 75,064 78,171 Asset management and servicing 37,808 42,145 56,810 Automobile related services 48,579 45,734 47,952 Facilities operation 66,163 41,461 46,515 Environment and energy services 110,899 105,246 122,426 Real estate management and brokerage 94,119 89,685 89,457 Real estate contract work 76,983 69,815 81,704 Other 49,363 45,147 50,246 Total expenses of costs of goods and real estate sold and services expenses ¥ 837,920 ¥ 786,954 ¥ 876,229 |
Summary of Balances from Contracts with Customers | The following table provides information about balances from contracts with customers as of March 31, 2021 and 2022. Millions of yen March 31, 2021 March 31, 2022 Trade Notes, Accounts and Other Receivable ¥ 180,828 ¥ 174,667 Contract assets (Included in Other Assets) 6,558 13,802 Contract liabilities (Included in Other Liabilities) 40,436 32,978 |
Cash Flow Information (Tables)
Cash Flow Information (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Supplemental Cash Flow Elements [Abstract] | |
Summary of Cash, Cash Equivalents and Restricted Cash | The following table provides information about Cash, Cash Equivalents and Restricted Cash which are included in the Company’s consolidated balance sheets as of March 31, 2021 and 2022, respectively. Millions of yen 2021 2022 Cash and Cash Equivalents ¥ 951,242 ¥ 954,827 Restricted Cash 128,333 136,985 Cash, Cash Equivalents and Restricted Cash ¥ 1,079,575 ¥ 1,091,812 |
Cash Payments | Cash payments during fiscal 2020, 2021 and 2022 are as follows: Millions of yen 2020 2021 2022 Cash payments: Interest ¥ 99,788 ¥ 80,313 ¥ 65,965 Income taxes, net 124,236 76,292 83,030 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Leases [Abstract] | |
Lease Income | Lease income for fiscal 2020, 2021 and 2022 are as follows: Millions of yen Fiscal Year ended Fiscal Year ended March 31, 2021 Fiscal Year ended March 31, 2022 Lease income – net investment in leases Interest income ¥ 72,663 ¥ 69,718 ¥ 73,379 Other 2,412 2,113 2,598 Lease income – operating leases* 430,665 397,065 450,454 Total lease income ¥ 505,740 ¥ 468,896 ¥ 526,431 * Gains from the disposition of real estate under operating leases included in operating lease revenues were ¥30,154 million, ¥15,459 million and ¥17,912 million, and gains from the disposition of operating lease assets other than real estate included in operating lease revenues were ¥20,918 million, ¥10,899 million and ¥22,236 million for fiscal 2020, 2021 and 2022, respectively. |
Net investment in lease direct financing and sales type | Net investment in leases at March 31, 2021 and 2022 consists of the following: Millions of yen Millions of yen March 31, 2021 March 31, 2022 Lease receivables ¥ 998,050 ¥ 1,029,157 Unguaranteed residual value 29,245 27,361 Initial direct costs 2,223 1,455 Total ¥ 1,029,518 ¥ 1,057,973 |
Investment in Operating Leases | Investment in operating leases at March 31, 2021 and 2022 consists of the following: Millions of yen 2021 2022 Transportation equipment ¥ 1,364,559 ¥ 1,438,621 Measuring and information-related equipment 307,010 326,680 Real estate 291,917 307,338 Other 43,507 71,935 2,006,993 2,144,574 Accumulated depreciation (741,022 ) (819,839 ) Net 1,265,971 1,324,735 Right-of-use 114,268 107,742 Accrued rental receivables 28,259 31,639 Allowance for doubtful receivables on operating leases (309 ) (914 ) Total ¥ 1,408,189 ¥ 1,463,202 |
Depreciation and Various Expenses (Insurance, Property Tax and Other) of Operating Lease | Depreciation and various expenses for fiscal 2020, 2021 and 2022 are as follows: Millions of yen 2020 2021 2022 Depreciation expenses ¥ 209,586 ¥ 217,212 ¥ 231,643 Various expenses 80,018 78,416 90,427 Total ¥ 289,604 ¥ 295,628 ¥ 322,070 |
Lease Receivables of the Operating Lease Contracts | Remaining lease receivables of net investment in leases (including residual value guarantees) range up to 27 years at March 31, 2022. Remaining lease receivables of the operating lease contracts range up to 59 years at March 31, 2022. At March 31, 2022, the amounts due in each of the next five years and thereafter are as follows: Millions of yen Years ending March 31, Net investment in leases Operating leases 2023 ¥ 442,235 ¥ 317,352 2024 287,329 197,240 2025 185,993 127,457 2026 107,983 74,731 2027 63,018 40,814 Thereafter 64,976 106,272 Total lease payments 1,151,534 ¥ 863,866 Less imputed interest (122,377 ) Total lease receivables ¥ 1,029,157 |
Component of Lease Expense | The component of lease expense for fiscal 2020, 2021 and 2022 are as follows: Millions of yen Millions of yen Millions of yen Year ended March 31, 2020 Year ended March 31, 2021 Year ended March 31, 2022 Finance lease cost Depreciation expenses of right-of-use ¥ 743 ¥ 359 ¥ 534 Interest expenses of lease liabilities 302 131 106 1,045 490 640 Operating lease cost 42,427 42,964 49,725 Short-term lease cost 2,633 3,347 3,034 Variable lease cost 948 230 65 Sublease income (3,688 ) (4,142 ) (3,192 ) Total ¥ 43,365 ¥ 42,889 ¥ 50,272 |
Cash Flow Information Related To Lease | Supplemental cash flow information related to leases for fiscal 2020, 2021 and 2022 are as follows: Millions of yen Year Ended March 31, 2020 Finance leases Operating leases Cash paid for amounts included in the measurements of lease liabilities: Cash flows from operating activities ¥ 302 ¥ 44,610 Cash flows from financing activities 494 0 Right-of-use assets obtained in exchange for lease liabilities: ¥ 531 ¥ 39,775 Millions of yen Year Ended March 31, 2021 Finance leases Operating leases Cash paid for amounts included in the measurements of lease liabilities: Cash flows from operating activities ¥ 131 ¥ 41,680 Cash flows from financing activities 674 0 Right-of-use ¥ 228 ¥ 55,344 Millions of yen Year Ended March 31, 2022 Finance leases Operating leases Cash paid for amounts included in the measurements of lease liabilities: Cash flows from operating activities ¥ 106 ¥ 47,321 Cash flows from financing activities 878 0 Right-of-use ¥ 278 ¥ 37,816 |
Balance Sheet Information Related to Lessee Leases | Supplemental balance sheet information related to lessee leases at March 31, 2021 and 2022 are as follows: Millions of yen, except lease term and discount rate March 31, 2021 Finance leases Operating leases Investment in Operating Leases ¥ 257 ¥ 114,011 Property under Facility Operations 1,990 69,291 Office Facilities 487 108,717 Total right-of-use asse 2,734 292,019 Other Liabilities 3,417 289,890 Total lease liabiliti ¥ 3,417 ¥ 289,890 Weighted average remaining lease term 7years 12years Weighted average discount rate 4.4 % 1.1 % Millions of yen, except lease term and discount rate March 31, 2022 Finance leases Operating leases Investment in Operating Leases ¥ 4,955 ¥ 102,787 Property under Facility Operations 1,763 68,149 Office Facilities 375 104,157 Total right-of-use asse 7,093 275,093 Other Liabilities 7,698 275,199 Total lease liabiliti ¥ 7,698 ¥ 275,199 Weighted average remaining lease term 25years 11years Weighted average discount rate 2.5 % 1.1 % |
Operating And Finance Lease Liability Maturity | At March 31, 2022, 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 March 31, Finance leases Operating leases 2023 ¥ 827 ¥ 47,743 2024 783 38,185 2025 696 32,436 2026 383 29,374 2027 272 23,544 Thereafter 7,405 119,722 Total lease payments 10,366 291,004 Less imputed interest (2,668 ) (15,805 ) Total lease liabilities ¥ 7,698 ¥ 275,199 |
Installment Loans (Tables)
Installment Loans (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Composition of Installment Loans By Domicile and Type of Borrower | The composition of installment loans by domicile and type of borrower at March 31, 2021 and 2022 is as follows: Millions of yen 2021 2022 Borrowers in Japan: Consumer— Real estate loans ¥ 1,995,031 ¥ 2,007,570 Card loans 188,547 173,687 Other 27,698 27,770 2,211,276 2,209,027 Corporate— Real estate companies 279,046 278,607 Non-recourse 47,956 74,085 Commercial, industrial and other companies 203,890 168,607 530,892 521,299 Millions of yen 2021 2022 Borrowers in overseas: Consumer— Real estate loans 75,890 105,860 Other 26,192 30,136 102,082 135,996 Corporate— Real estate companies 197,074 273,789 Non-recourse 113,129 80,918 Commercial, industrial companies and other 503,980 627,828 814,183 982,535 Purchased loans* 12,351 13,747 ¥ 3,670,784 ¥ 3,862,604 * 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. |
Contractual Maturities of Installment Loans Except Purchased Loans | At March 31, 2022, the contractual maturities of installment loans (except purchased loans) for each of the next five years and thereafter are as follows: Years ending March 31, Millions of yen 2023 ¥ 577,336 2024 321,132 2025 346,923 2026 222,291 2027 209,707 Thereafter 2,171,468 Total ¥ 3,848,857 |
Information about Allowance for Credit Losses | The following table provides information about the allowance for credit losses for fiscal 2020: March 31, 2020 Millions of yen Loans Direct 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) 12,254 903 7,988 (24 ) 3,304 24,425 Charge-offs (13,723 ) (1 ) (6,548 ) (1,789 ) (2,859 ) (24,920 ) Recoveries 554 0 133 77 24 788 Other*2 262 (35 ) (877 ) 8 (826 ) (1,468 ) Ending balance ¥ 20,542 ¥ 1,786 ¥ 21,358 ¥ 1,458 ¥ 11,692 ¥ 56,836 Individually evaluated for impairment 3,602 228 8,950 667 0 13,447 Not individually evaluated for impairment 16,940 1,558 12,408 791 11,692 43,389 Financing receivables: Ending balance ¥ 2,171,139 ¥ 132,081 ¥ 1,296,854 ¥ 13,218 ¥ 1,080,964 ¥ 4,694,256 Individually evaluated for impairment 26,533 2,466 55,216 1,605 0 85,820 Not individually evaluated for impairment 2,144,606 129,615 1,241,638 11,613 1,080,964 4,608,436 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. |
Purchased loans | |
Information about Allowance for Credit Losses | Changes in the allowance for uncollectible accounts relating to the purchased loans for fiscal 2020 are as follows: Millions of yen 2020 Beginning balance ¥ 3,186 Provision (Reversal) (24 ) Charge-offs (1,789 ) Recoveries 77 Other* 8 Ending balance ¥ 1,458 * Other includes foreign currency translation adjustments. |
Credit Quality of Financing R_2
Credit Quality of Financing Receivables and the Allowance for Credit Losses (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Information about Allowance for Credit Losses | The following table provides information about the allowance for credit losses for fiscal 2020: March 31, 2020 Millions of yen Loans Direct 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) 12,254 903 7,988 (24 ) 3,304 24,425 Charge-offs (13,723 ) (1 ) (6,548 ) (1,789 ) (2,859 ) (24,920 ) Recoveries 554 0 133 77 24 788 Other*2 262 (35 ) (877 ) 8 (826 ) (1,468 ) Ending balance ¥ 20,542 ¥ 1,786 ¥ 21,358 ¥ 1,458 ¥ 11,692 ¥ 56,836 Individually evaluated for impairment 3,602 228 8,950 667 0 13,447 Not individually evaluated for impairment 16,940 1,558 12,408 791 11,692 43,389 Financing receivables: Ending balance ¥ 2,171,139 ¥ 132,081 ¥ 1,296,854 ¥ 13,218 ¥ 1,080,964 ¥ 4,694,256 Individually evaluated for impairment 26,533 2,466 55,216 1,605 0 85,820 Not individually evaluated for impairment 2,144,606 129,615 1,241,638 11,613 1,080,964 4,608,436 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. |
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 fiscal 2020: March 31, 2020 Millions of yen Portfolio segment Class Average recorded investments in impaired loans * Interest income on impaired loans Interest on collected in cash Consumer borrowers ¥ 24,721 ¥ 446 ¥ 403 Real estate loans 5,077 141 137 Card loans 3,926 57 50 Other 15,718 248 216 Corporate borrowers 37,103 121 119 Non-recourse Japan 137 2 2 The Americas 2,954 0 0 Other than Non-recourse Real estate companies in Japan 1,621 30 30 Real estate companies in overseas 5,785 0 0 Commercial, industrial and other companies in Japan 6,754 76 75 Commercial, industrial and other companies in overseas 19,852 13 12 Purchased loans 3,108 139 139 Total ¥ 64,932 ¥ 706 ¥ 661 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 Troubled Debt Restructurings of Financing Receivables | The following table provides information about troubled debt restructurings of financing receivables that occurred during fiscal 2020: March 31, 2020 Millions of yen Portfolio segment Class Pre-modification outstanding recorded investment Post-modification outstanding recorded investment Consumer borrowers ¥ 12,041 ¥ 9,025 Real estate loans 19 17 Card loans 1,899 1,396 Other 10,123 7,612 Corporate borrowers 4,785 4,779 Non-recourse The Americas 751 751 Other than Non-recourse Commercial, industrial and other companies in overseas 4,034 4,028 Total ¥ 16,826 ¥ 13,804 The following table provides information about financing receivables modified as troubled debt restructurings within the previous 12 months from March 31, 2020 and for which there was a payment default during fiscal 2020: March 31, 2020 Millions of yen Portfolio segment Class Recorded investment Consumer borrowers ¥ 1,687 Card loans 22 Other 1,665 Corporate borrowers 25 Other than Non-recourse Commercial, industrial other companies in overseas 25 Total ¥ 1,712 |
Credit Quality of Financial A_2
Credit Quality of Financial Assets and the Allowance for Credit Losses (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Credit Loss [Abstract] | |
Summary of allowance for credit losses for installment loans | The following table provides information about the allowance for credit losses for installment loans, net investment in leases and other financial assets measured at amortized cost for fiscal 2021 and 2022: Fiscal Year ended March 31, 2021 Millions of yen Beginning Cumulative 2016-13 Reclassification Balance at Provision Allowance of during the Charge- Recoveries Other*6 Ending Collective Individual Allowance for credit losses : Installment loans to consumer borrowers: Real estate loans Japan ¥ 3,112 ¥ 2,856 ¥ 0 ¥ 5,968 ¥ 390 ¥ 0 ¥ (495 ) ¥ 59 ¥ 0 ¥ 5,922 ¥ 5,354 ¥ 568 Overseas 128 (102 ) 0 26 412 0 0 1 31 470 470 0 Card loans Japan 3,785 12,146 0 15,931 (802 ) 0 (2,150 ) 6 (1 ) 12,984 12,283 701 Other Japan 12,735 (963 ) 0 11,772 5,875 0 (9,296 ) 8 0 8,359 5,616 2,743 Overseas 782 563 0 1,345 739 0 (1,754 ) 577 368 1,275 1,038 237 Installment loans to corporate borrowers: Non-recourse loans Japan 13 24 0 37 (5 ) 0 0 0 0 32 32 0 The Americas 1,773 1,577 0 3,350 43 0 0 0 57 3,450 3,218 232 Real estate companies Japan 983 46 0 1,029 (58 ) 0 (96 ) 25 1 901 621 280 Overseas 2,010 1,579 0 3,589 (1,502 ) 0 (570 ) 33 (11 ) 1,539 1,539 0 Commercial, industrial companies Japan 2,447 98 0 2,545 (27 ) 0 (592 ) 11 1 1,938 199 1,739 Overseas 14,769 9,002 0 23,771 10,410 0 (15,427 ) 18 (9 ) 18,763 13,013 5,750 Purchased loans*1 1,458 0 0 1,458 353 3,899 (4,040 ) 46 119 1,835 681 1,154 Net investment in leases: 11,692 3,550 0 15,242 3,285 0 (2,668 ) 10 653 16,522 13,267 3,255 Subtotal 55,687 30,376 0 86,063 19,113 3,899 (37,088 ) 794 1,209 73,990 57,331 16,659 Other financial assets measured at amortized cost*2 1,149 1,369 (312 ) 2,206 4,483 0 (344 ) 11 (351 ) 6,005 810 5,195 Total ¥ 56,836 ¥ 31,745 ¥ (312 ) ¥ 88,269 ¥ 23,596 ¥ 3,899 ¥ (37,432 ) ¥ 805 ¥ 858 ¥ 79,995 ¥ 58,141 ¥ 21,854 Fiscal Year ended March 31, 2022 Millions of yen Beginning Provision Allowance of during the Charge- offs*5 Recoveries Other*6 Ending Collective Individual Allowance for credit losses : Installment loans to consumer borrowers: Real estate loans Japan ¥ 5,922 ¥ 340 ¥ 0 ¥ (570 ) ¥ 24 ¥ 0 ¥ 5,716 ¥ 5,211 ¥ 505 Overseas 470 (34 ) 0 0 4 15 455 455 0 Card loans Japan 12,984 (1,301 ) 0 (1,669 ) 4 1 10,019 9,423 596 Other Japan 8,359 4,948 0 (8,114 ) 11 0 5,204 2,946 2,258 Overseas 1,275 300 0 (644 ) 0 174 1,105 961 144 Installment loans to corporate borrowers: Non-recourse loans Japan 32 49 0 0 0 0 81 81 0 The Americas 3,450 (1,035 ) 0 0 0 276 2,691 1,836 855 Real estate companies Japan 901 (204 ) 0 (109 ) 29 0 617 490 127 Overseas 1,539 (855 ) 0 (10 ) 0 61 735 735 0 Commercial, industrial companies Japan 1,938 93 0 (761 ) 67 0 1,337 505 832 Overseas 18,763 3,503 0 (6,185 ) 155 2,060 18,296 13,367 4,929 Purchased loans*1 1,835 (227 ) 2,210 (2,372 ) 114 15 1,575 608 967 Net investment in leases: 16,522 1,577 0 (2,802 ) 21 985 16,303 12,480 3,823 Subtotal 73,990 7,154 2,210 (23,236 ) 429 3,587 64,134 49,098 15,036 Other financial assets measured at amortized cost*2 6,005 2,662 0 (1,661 ) 45 231 7,282 562 6,720 Total ¥ 79,995 ¥ 9,816 ¥ 2,210 ¥ (24,897 ) ¥ 474 ¥ 3,818 ¥ 71,416 ¥ 49,660 ¥ 21,756 Notes: 1. Loans held for sale and policy loan receivables of an insurance entity are not scope to allowance for credit losses. 2. Held-to-maturity held-to-maturity non-accrual held-to-maturity *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. Due to the adoption of Credit Losses Standard, allowance of ¥176,714 million was recorded as credit loss gross-up charged-off. |
Summary of disclosure in tabular form of allowances for credit losses and provision for credit losses | Millions of yen 2021 2022 Provision Allowance Provision Allowance Net investment in leases ¥ 3,285 ¥ 16,522 ¥ 1,577 ¥ 16,303 Installment loans 15,828 57,468 5,577 47,831 Subtotal in the above table 19,113 73,990 7,154 64,134 Other financial assets measured at amortized cost 4,483 6,005 2,662 7,282 Total in the above table 23,596 79,995 9,816 71,416 Off-balance sheet credit exposures*3(a) (7,437 ) — (4,449 ) — Available-for-sale debt securities*3(b) 117 — 21 — Less: Loans to affiliates*3(c) (255 ) (1,050 ) (1,449 ) (1,957 ) Amount reported on the consolidated financial statements ¥ 16,021 ¥ 78,945 ¥ 3,939 ¥ 69,459 *3(a) The allowance for off-balance sheet credit exposure were ¥26,094 million and ¥22,120 million as of March 31, 2021 and 2022, respectively, and the amounts are recorded in “Other liabilities” on the consolidated balance sheets. For further information, see Note 31 “Commitments, Guarantees and Contingent Liabilities.” *3(b) The allowance for available-for-sale debt securities were ¥120 million and ¥153 million as of March 31, 2021 and 2022, respectively, and the amounts are recorded as a reduction in “Investments in securities” on the consolidated balance sheets. For further information, see Note 10 “Investment in Securities.” *3(c) The provision for credit losses on loans to affiliates were ¥255 million and ¥1,449 million during fiscal 2021 and 2022, respectively, and the amounts are recorded in “Equity in net income (loss) of affiliates” in the consolidated statements of income. The allowance for credit losses on loans to affiliates were ¥1,050 million and ¥1,957 million as of March 31, 2021 and 2022, respectively, and the amounts are recorded as a reduction in “Investments in affiliates” on the consolidated balance sheets. |
Summary of purchased loans | The following table provides information about purchased loans which were acquired for fiscal 2021 and 2022: Millions of yen Fiscal Year ended March 31, 2021 Fiscal Year ended March 31, 2022 Purchase price ¥ 2,705 ¥ 4,926 Allowance for credit losses at acquisition date 3,899 2,210 Discount or premium attributable to other factors 254 220 Par value ¥ 6,858 ¥ 7,356 |
Summary of origination years of financial assets | The following table provides information about the origination years of financial assets as of March 31, 2021 and 2022. Card loans to consumer borrowers with a revolving repayment feature that cannot be classified into the origination year are excluded from the table. March 31, 2021 Millions of yen Portfolio segment Origination year (years ended March 31) Class Credit Quality 2021 2020 2019 2018 2017 Prior Total Consumer borrowers: Performing ¥ 371,914 ¥ 443,079 ¥ 332,461 ¥ 220,035 ¥ 223,814 ¥ 498,350 ¥ 2,089,653 Non-Performing 11,041 7,854 5,132 3,176 2,612 3,609 ¥ 33,424 Real estate loans Performing 362,832 431,483 327,967 217,380 223,540 498,080 ¥ 2,061,282 Non-Performing 96 735 1,598 1,683 2,068 3,459 ¥ 9,639 Other* Performing 9,082 11,596 4,494 2,655 274 270 ¥ 28,371 Non-Performing 10,945 7,119 3,534 1,493 544 150 ¥ 23,785 Corporate borrowers: Performing 341,346 378,732 207,214 124,889 71,400 97,113 ¥ 1,220,694 Non-Performing 6,972 12,215 6,594 7,266 4,110 10,709 ¥ 47,866 Non-recourse Japan Performing 6,637 24,428 5,283 2,802 0 8,806 ¥ 47,956 The Americas Performing 1,349 52,413 28,291 15,817 5,178 8,764 ¥ 111,812 Non-Performing 58 0 0 0 0 1,259 ¥ 1,317 Other than non-recourse Real estate companies in Japan Performing 103,982 62,274 35,065 28,743 25,487 21,753 ¥ 277,304 Non-Performing 70 252 192 0 690 538 ¥ 1,742 Real estate companies in overseas Performing 42,980 55,678 10,695 4,992 1,976 2,976 ¥ 119,297 Non-Performing 0 3,049 2,057 4,946 1,056 3,397 ¥ 14,505 Commercial, industrial and other companies in Japan Performing 78,281 41,166 30,116 12,746 11,798 18,664 ¥ 192,771 Non-Performing 1,210 3,865 205 878 82 1,022 ¥ 7,262 Commercial, industrial and other companies in overseas Performing 108,117 142,773 97,764 59,789 26,961 36,150 ¥ 471,554 Non-Performing 5,634 5,049 4,140 1,442 2,282 4,493 ¥ 23,040 Purchased loans: Performing 527 0 0 168 119 9,714 ¥ 10,528 Non-Performing 0 0 0 15 0 1,808 ¥ 1,823 March 31, 2021 Millions of yen Portfolio segment Origination year (years ended March 31) Class Credit Quality 2021 2020 2019 2018 2017 Prior Total Net investment in leases: Performing ¥ 333,190 ¥ 268,966 ¥ 171,040 ¥ 105,708 ¥ 62,977 ¥ 68,712 ¥ 1,010,593 Non-Performing 1,366 3,057 3,441 3,151 2,980 4,930 ¥ 18,925 Japan Performing 184,342 165,580 121,072 84,928 57,393 67,040 ¥ 680,355 Non-Performing 151 776 1,194 1,512 1,261 2,213 ¥ 7,107 Overseas Performing 148,848 103,386 49,968 20,780 5,584 1,672 ¥ 330,238 Non-Performing 1,215 2,281 2,247 1,639 1,719 2,717 ¥ 11,818 Other financial assets measured at amortized cost Performing 14,882 1,045 67 938 2,502 13,762 ¥ 33,196 Non-Performing 0 0 0 908 0 0 ¥ 908 Total (excluding revolving repayment card loans) Performing ¥ 1,061,859 ¥ 1,091,822 ¥ 710,782 ¥ 451,738 ¥ 360,812 ¥ 687,651 ¥ 4,364,664 Non-Performing ¥ 19,379 ¥ 23,126 ¥ 15,167 ¥ 14,516 ¥ 9,702 ¥ 21,056 ¥ 102,946 March 31, 2022 Millions of yen Portfolio segment Origination year (years ended March 31) Class Credit Quality 2022 2021 2020 2019 2018 Prior Total Consumer borrowers: Performing ¥ 322,924 ¥ 314,935 ¥ 387,988 ¥ 314,163 ¥ 202,309 ¥ 595,321 ¥ 2,137,640 Non-Performing 8,282 4,595 3,852 2,098 961 11,915 ¥ 31,703 Real estate loans Performing 302,695 309,893 382,612 311,959 198,974 594,612 ¥ 2,100,745 Non-Performing 26 94 489 380 222 11,474 ¥ 12,685 Other* Performing 20,229 5,042 5,376 2,204 3,335 709 ¥ 36,895 Non-Performing 8,256 4,501 3,363 1,718 739 441 ¥ 19,018 Corporate borrowers: Performing 487,433 188,634 283,950 127,128 96,851 111,640 ¥ 1,295,636 Non-Performing 412 3,184 4,138 4,747 14,562 21,000 ¥ 48,043 Non-recourse Japan Performing 26,991 6,686 24,244 5,256 2,750 8,158 ¥ 74,085 The Americas Performing 0 5,547 51,467 11,744 7,721 1,397 ¥ 77,876 Non-Performing 0 64 0 1,587 0 1,391 ¥ 3,042 Other than non-recourse Real estate companies in Japan Performing 102,719 48,420 37,845 28,727 24,481 34,111 ¥ 276,303 Non-Performing 0 245 938 71 0 1,050 ¥ 2,304 Real estate companies in overseas Performing 24,104 26,751 41,644 2,256 5,478 740 ¥ 100,973 Non-Performing 0 0 0 371 12,790 7,717 ¥ 20,878 Commercial, industrial and other companies in Japan Performing 75,273 24,808 26,748 13,746 6,457 13,806 ¥ 160,838 Non-Performing 156 457 1,392 124 392 773 ¥ 3,294 Commercial, industrial and other companies in overseas Performing 258,346 76,422 102,002 65,399 49,964 53,428 ¥ 605,561 Non-Performing 256 2,418 1,808 2,594 1,380 10,069 ¥ 18,525 Purchased loans: Performing 0 0 24 281 1,072 10,885 ¥ 12,262 Non-Performing 0 0 0 0 0 1,485 ¥ 1,485 Net investment in leases: Performing 328,428 249,106 190,125 113,190 77,683 80,217 ¥ 1,038,749 Non-Performing 2,608 2,899 3,474 2,787 2,178 5,278 ¥ 19,224 March 31, 2022 Millions of yen Portfolio segment Origination year (years ended March 31) Class Credit Quality 2022 2021 2020 2019 2018 Prior Total Japan Performing ¥ 119,538 ¥ 154,757 ¥ 133,589 ¥ 91,691 ¥ 68,087 ¥ 78,283 ¥ 645,945 Non-Performing 402 605 1,044 1,103 1,247 2,109 ¥ 6,510 Overseas Performing 208,890 94,349 56,536 21,499 9,596 1,934 ¥ 392,804 Non-Performing 2,206 2,294 2,430 1,684 931 3,169 ¥ 12,714 Other financial assets measured at amortized cost Performing 14,287 2,220 345 0 817 17,743 ¥ 35,412 Non-Performing 0 0 58 0 1,586 0 ¥ 1,644 Total (excluding revolving repayment card loans) Performing ¥ 1,153,072 ¥ 754,895 ¥ 862,432 ¥ 554,762 ¥ 378,732 ¥ 815,806 ¥ 4,519,699 Non-Performing ¥ 11,302 ¥ 10,678 ¥ 11,522 ¥ 9,632 ¥ 19,287 ¥ 39,678 ¥ 102,099 Note: Loans held for sale and policy loan receivables of an insurance entity are not included in the table above. * Other in loans to consumer borrowers includes claims receivable arising from payments on guarantee of consumer loans. For further information, see Note 3 1 Liabilities.” |
Summary of revolving repayment card loans | The information about card loans to consumer borrowers with a revolving repayment feature that cannot be classified into the origination year as of March 31, 2021 and 2022 are as follows: March 31, 2021 Millions of yen Portfolio segment Revolving repayment Modification of Total—revolving Total— origination year (excluding revolving repayment card Total— financial assets Credit quality Consumer borrowers: Performing ¥ 183,722 ¥ 0 ¥ 183,722 ¥ 4,364,664 ¥ 4,548,386 Non-Performing 1,132 3,693 4,825 102,946 ¥ 107,771 March 31, 2022 Millions of yen Portfolio segment Revolving repayment Modification of Total—revolving Total— origination year (excluding revolving repayment card Total— financial assets Credit quality Consumer borrowers: Performing ¥ 169,601 ¥ 0 ¥ 169,601 ¥ 4,519,699 ¥ 4,689,300 Non-Performing 671 3,415 4,086 102,099 ¥ 106,185 |
Summary of past-due financial assets | The following table provides information about the past-due March 31, 2021 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 Consumer borrowers ¥ 4,553 ¥ 10,257 ¥ 14,810 ¥ 2,311,624 Real estate loans 1,375 2,515 3,890 2,070,921 Card loans 371 1,105 1,476 188,547 Other 2,807 6,637 9,444 52,156 Corporate borrowers 8,296 24,443 32,739 1,268,560 Non-recourse Japan 0 0 0 47,956 The Americas 5,193 1,316 6,509 113,129 Other than Non-recourse Real estate companies in Japan 144 778 922 279,046 Real estate companies in overseas 0 14,505 14,505 133,802 Commercial, industrial and other companies in Japan 592 1,993 2,585 200,033 Commercial, industrial and other companies in overseas 2,367 5,851 8,218 494,594 Net investment in leases 9,332 17,128 26,460 1,029,518 Japan 2,257 6,347 8,604 687,462 Overseas 7,075 10,781 17,856 342,056 Total ¥ 22,181 ¥ 51,828 ¥ 74,009 ¥ 4,609,702 March 31, 2022 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 Consumer borrowers ¥ 4,183 ¥ 5,637 ¥ 9,820 ¥ 2,343,030 Real estate loans 1,473 2,262 3,735 2,113,430 Card loans 371 503 874 173,687 Other 2,339 2,872 5,211 55,913 Corporate borrowers 20,840 31,935 52,775 1,343,679 Non-recourse Japan 0 0 0 74,085 The Americas 514 3,042 3,556 80,918 Other than Non-recourse Real estate companies in Japan 578 350 928 278,607 Real estate companies in overseas 16,113 20,879 36,992 121,851 Commercial, industrial and other companies in Japan 1,243 1,268 2,511 164,132 Commercial, industrial and other companies in overseas 2,392 6,396 8,788 624,086 Net investment in leases 9,322 17,746 27,068 1,057,973 Japan 2,252 5,782 8,034 652,455 Overseas 7,070 11,964 19,034 405,518 Total ¥ 34,345 ¥ 55,318 ¥ 89,663 ¥ 4,744,682 Note: Loans held for sale, policy loans receivable of an insurance entity and purchased loans are not included in the table above. |
Summary of non-accrual of financial assets | The following table provides information about non-accrual March 31, 2021 Millions of yen Beginning Ending Interest income Balance not Non-accrual Installment loans to consumer borrowers: Real estate loans Japan ¥ 2,469 ¥ 1,976 ¥ 194 ¥ 424 Overseas 0 570 0 268 Card loans Japan 2,114 1,115 50 0 Other Japan 8,611 5,970 275 44 Overseas 413 691 0 0 Installment loans to corporate borrowers: Non-recourse The Americas 2,466 10,148 0 0 Real estate companies Japan 586 778 30 509 Overseas 12,491 14,505 0 0 Commercial, industrial companies and other Japan 2,409 1,993 196 127 Overseas 26,670 26,396 3 9,936 Net investment in leases 15,346 17,166 0 0 Total ¥ 73,575 ¥ 81,308 ¥ 748 ¥ 11,308 March 31, 2022 Millions of yen Beginning Ending Interest income Balance not Non-accrual Installment loans to consumer borrowers: Real estate loans Japan ¥ 1,976 ¥ 1,824 ¥ 193 ¥ 21 Overseas 570 475 0 129 Card loans Japan 1,115 503 35 0 Other Japan 5,970 2,391 208 0 Overseas 691 519 0 39 Installment loans to corporate borrowers: Non-recourse The Americas 10,148 8,787 0 0 Real estate companies Japan 778 351 51 61 Overseas 14,505 20,879 0 0 Commercial, industrial companies and other Japan 1,993 1,267 91 28 Overseas 26,396 18,634 112 4,018 Net investment in leases 17,166 17,771 0 0 Total ¥ 81,308 ¥ 73,401 ¥ 690 ¥ 4,296 |
Summary of troubled debt restructurings of financing receivables | The following table provides information about troubled debt restructurings of financing receivables that occurred during the fiscal year ended March 31, 2021 and 2022: Fiscal Year ended March 31, 2021 Millions of yen Portfolio segment Class Pre-modification outstanding recorded investment Post-modification outstanding recorded investment Consumer borrowers ¥ 9,279 ¥ 6,727 Real estate loans 34 23 Card loans 1,677 1,261 Other 7,568 5,443 Corporate borrowers 14,723 13,049 Other than Non-recourse Real estate companies in overseas 111 111 Commercial, industrial and other companies in Japan 38 38 Commercial, industrial and other companies in overseas 14,574 12,900 Total ¥ 24,002 ¥ 19,776 Fiscal Year ended March 31, 2022 Millions of yen Portfolio segment Class Pre-modification outstanding recorded investment Post-modification outstanding recorded investment Consumer borrowers ¥ 8,761 ¥ 6,152 Real estate loans 15 6 Card loans 1,385 1,072 Other 7,361 5,074 Corporate borrowers 5,481 5,319 Other than Non-recourse Commercial, industrial and other companies in overseas 5,481 5,319 Total ¥ 14,242 ¥ 11,471 |
Summary of financing receivables modified as troubled debt restructurings | The following table provides information about financing receivables modified as troubled debt restructurings within the previous 12 months from March 31, 2021 and for which there was a payment default during the fiscal year ended March 31, 2021: Fiscal Year ended March 31, 2021 Millions of yen Portfolio segment Class Recorded investment Consumer borrowers ¥ 387 Card loans 36 Other 351 Corporate borrowers 752 Other than Non-recourse Commercial, industrial and other companies in overseas 752 Total ¥ 1,139 The following table provides information about financing receivables modified as troubled debt restructurings within the previous 12 months from March 31, 2022 and for which there was a payment default during the fiscal year ended March 31, 2022: Fiscal Year ended March 31, 2022 Millions of yen Portfolio segment Class Recorded investment Consumer borrowers ¥ 900 Real estate loans 4 Card loans 6 Other 890 Total ¥ 900 |
Investment in Securities (Table
Investment in Securities (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Investments Schedule [Abstract] | |
Summary of Investment in Securities | Investment in securities as of March 31, 2021 and 2022 consists of the following: Millions of yen 2021 2022 Equity securities* ¥ 540,082 ¥ 560,643 Trading debt securities 2,654 2,503 Available-for-sale 2,003,917 2,174,891 Held-to-maturity 113,790 114,312 Total ¥ 2,660,443 ¥ 2,852,349 * The amount of assets under management of variable annuity and variable life insurance contracts included in equity securities were ¥249,830 million and ¥185,115 million as of March 31, 2021 and 2022, respectively. The amount of investment funds that are accounted for under the equity method included in equity securities were ¥82,420 million and ¥ 90,650 million as of March 31, 2021 and 2022, respectively. The amount of investment funds and others elected the fair value option included in equity securities were ¥4,940 million and ¥11,709 million as of March 31, 2021 and 2022, 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, 2021 and 2022, and for fiscal 2021 and 2022. Millions of yen March 31, 2021 Fiscal Year ended March 31, 2021 Carrying Accumulated Accumulated Impairments Upward Equity securities measured using the measurement alternative ¥ 47,460 ¥ (13,474 ) ¥ 350 ¥ (1,479 ) ¥ 232 Millions of yen March 31, 2022 Fiscal Year ended March 31, 2022 Carrying Accumulated Accumulated Impairments Upward Equity securities measured using the measurement alternative ¥ 58,723 ¥ (13,880 ) ¥ 401 ¥ (208 ) ¥ 163 |
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, 2021 Millions of yen Amortized cost Allowance Gross unrealized gains Gross unrealized losses Fair value Available-for-sale Japanese and foreign government bond securities ¥ 846,736 ¥ 0 ¥ 6,071 ¥ (31,649 ) ¥ 821,158 Japanese prefectural and foreign municipal bond securities 274,770 (120 ) 4,238 (2,612 ) 276,276 Corporate debt securities 742,862 0 10,125 (10,736 ) 742,251 CMBS and RMBS in the Americas 35,668 0 549 (1,760 ) 34,457 Other asset-backed securities and debt securities 126,731 0 4,308 (1,264 ) 129,775 2,026,767 (120 ) 25,291 (48,021 ) 2,003,917 Held-to-maturity Japanese government bond securities and other 113,790 0 25,342 0 139,132 ¥ 2,140,557 ¥ (120 ) ¥ 50,633 ¥ (48,021 ) ¥ 2,143,049 March 31, 2022 Millions of yen Amortized cost Allowance Gross unrealized gains Gross unrealized losses Fair value Available-for-sale Japanese and foreign government bond securities ¥ 905,004 ¥ 0 ¥ 5,178 ¥ (77,569 ) ¥ 832,613 Japanese prefectural and foreign municipal bond securities 333,449 (132 ) 2,482 (10,195 ) 325,604 Corporate debt securities 873,178 0 10,014 (33,632 ) 849,560 CMBS and RMBS in the Americas 29,349 0 112 (729 ) 28,732 Other asset-backed securities and debt securities 135,445 (21 ) 5,456 (2,498 ) 138,382 2,276,425 (153 ) 23,242 (124,623 ) 2,174,891 Held-to-maturity Japanese government bond securities and other 114,312 0 21,129 0 135,441 ¥ 2,390,737 ¥ (153 ) ¥ 44,371 ¥ (124,623 ) ¥ 2,310,332 |
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, 2021 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 ¥ 475,023 ¥ (21,472 ) ¥ 264,105 ¥ (10,177 ) ¥ 739,128 ¥ (31,649 ) Japanese prefectural and foreign municipal bond securities 48,367 (519 ) 63,316 (2,213 ) 111,683 (2,732 ) Corporate debt securities 231,552 (5,798 ) 141,559 (4,938 ) 373,111 (10,736 ) CMBS and RMBS in the Americas 345 (6 ) 24,782 (1,754 ) 25,127 (1,760 ) Other asset-backed securities and debt securities 4,296 (112 ) 29,750 (1,152 ) 34,046 (1,264 ) ¥ 759,583 ¥ (27,907 ) ¥ 523,512 ¥ (20,234 ) ¥ 1,283,095 ¥ (48,141 ) March 31, 2022 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 ¥ 217,457 ¥ (16,117 ) ¥ 521,633 ¥ (61,452 ) ¥ 739,090 ¥ (77,569 ) Japanese prefectural and foreign municipal bond securities 190,081 (6,509 ) 46,391 (3,818 ) 236,472 (10,327 ) Corporate debt securities 373,506 (19,340 ) 156,687 (14,292 ) 530,193 (33,632 ) CMBS and RMBS in the Americas 6,458 (98 ) 17,542 (631 ) 24,000 (729 ) Other asset-backed securities and debt securities 66,543 (995 ) 37,432 (1,524 ) 103,975 (2,519 ) ¥ 854,045 ¥ (43,059 ) ¥ 779,685 ¥ (81,717 ) ¥ 1,633,730 ¥ (124,776 ) The following table provides information about available-for-sale March 31, 2021 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 ¥ 475,023 ¥ (21,472 ) ¥ 264,105 ¥ (10,177 ) ¥ 739,128 ¥ (31,649 ) Japanese prefectural and foreign municipal bond securities 45,486 (399 ) 63,316 (2,213 ) 108,802 (2,612 ) Corporate debt securities 231,552 (5,798 ) 141,559 (4,938 ) 373,111 (10,736 ) CMBS and RMBS in the Americas 345 (6 ) 24,782 (1,754 ) 25,127 (1,760 ) Other asset-backed securities and debt securities 4,296 (112 ) 29,750 (1,152 ) 34,046 (1,264 ) ¥ 756,702 ¥ (27,787 ) ¥ 523,512 ¥ (20,234 ) ¥ 1,280,214 ¥ (48,021 ) March 31, 2022 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 ¥ 217,457 ¥ (16,117 ) ¥ 521,633 ¥ (61,452 ) ¥ 739,090 ¥ (77,569 ) Japanese prefectural and foreign municipal bond securities 190,081 (6,509 ) 43,338 (3,686 ) 233,419 (10,195 ) Corporate debt securities 373,506 (19,340 ) 156,687 (14,292 ) 530,193 (33,632 ) CMBS and RMBS in the Americas 6,458 (98 ) 17,542 (631 ) 24,000 (729 ) Other asset-backed securities and debt securities 66,489 (974 ) 37,432 (1,524 ) 103,921 (2,498 ) ¥ 853,991 ¥ (43,038 ) ¥ 776,632 ¥ (81,585 ) ¥ 1,630,623 ¥ (124,623 ) The number of investment securities that were in an unrealized loss position as of March 31, 2021 and 2022 were 638 and 963, respectively. The gross unrealized losses on these debt securities are attributable to a number of factors including changes in interest rates, credit spreads and market trends. |
Roll-Forwards of Amount of Accumulated Other-Than-Temporary Impairments Related to Credit Losses | For available-for-sale Millions of yen 2020 Beginning ¥ 2,102 Addition (Reduction) during the period 0 Ending ¥ 2,102 |
Summary of Contractual Maturities of Available-for-Sale Debt Securities and Held-to-Maturity Debt Securities | The following is a summary of the contractual maturities of available-for-sale held-to-maturity Available-for-sale Millions of yen Amortized cost Fair value Due within one year ¥ 40,955 ¥ 41,178 Due after one to five years 356,995 361,532 Due after five to ten years 477,735 472,733 Due after ten years 1,400,740 1,299,448 ¥ 2,276,425 ¥ 2,174,891 Held-to-maturity Millions of yen Amortized cost Fair value Due after five to ten years ¥ 17,281 ¥ 19,775 Due after ten years 97,031 115,666 ¥ 114,312 ¥ 135,441 |
Summary of rollforward of allowance for credit losses | The following table presents rollforwards of the allowance for credit losses for fiscal 2021 and 2022, respectively. Millions of yen Fiscal Year ended March 31, 2021 Foreign municipal bond Total Beginning ¥ 0 ¥ 0 Additions to the allowance for credit losses on available-for-sale 120 120 Ending ¥ 120 ¥ 120 * An increase from the effects of changes in foreign exchange rates of ¥3 million was included in additions to the allowance for credit losses on available-for-sale debt securities for fiscal 2021. Millions of yen Fiscal Year ended March 31, 2022 Foreign municipal bond Japanese other asset- Total Beginning ¥ 120 ¥ 0 ¥ 120 Additions to the allowance for credit losses on available-for-sale debt securities for which credit losses were not previously recorded 0 21 21 Increase (Decrease) from the effects of changes in foreign exchange rates 12 0 12 Ending ¥ 132 ¥ 21 ¥ 153 |
Transfer of Financial Assets (T
Transfer of Financial Assets (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
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 during fiscal 2021 and 2022 are as follows: Millions of yen 2021 2022 Beginning balance ¥ 57,705 ¥ 63,754 Increase mainly from loans sold with servicing retained 17,434 13,285 Decrease mainly from amortization (12,597 ) (13,518 ) Increase from the effects of changes in foreign exchange rates 1,212 6,733 Ending balance ¥ 63,754 ¥ 70,254 |
Fair Value of Servicing Assets | The fair value of the servicing assets as of March 31, 2021 and 2022 are as follows: Millions of yen March 31, 2021 March 31, 2022 Beginning balance ¥ 60,419 ¥ 74,135 Ending balance ¥ 74,135 ¥ 83,732 |
Variable Interest Entities (Tab
Variable Interest Entities (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Variable Interest Entity, Primary Beneficiary | |
Information about Variable Interest Entities (Consolidated and Non-consolidated) | 1. Consolidated VIEs March 31, 2021 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 1,996 0 0 0 (c) VIEs for acquisition of real estate for the Company and its subsidiaries’ real estate-related business 63,935 12,977 17,923 3,720 (d) VIEs for corporate rehabilitation support business 431 158 0 0 (e) VIEs for investment in securities 104,364 316 35 25,299 (f) VIEs for securitizing financial assets such as finance lease receivable and loan receivable 266,662 158,620 266,662 828 (g) VIEs for securitization of loan receivable originated by third parties 511 992 511 0 (h) VIEs for power generation projects 304,064 226,224 285,149 35,194 (i) Other VIEs 171,344 67,346 144,260 0 Total ¥ 913,307 ¥ 466,633 ¥ 714,540 ¥ 65,041 March 31, 2022 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 1,988 0 0 0 (c) VIEs for acquisition of real estate for the Company and its subsidiaries’ real estate-related business 60,762 12,576 16,241 0 (d) VIEs for corporate rehabilitation support business 214 5 0 0 (e) VIEs for investment in securities 132,805 302 0 45,241 (f) VIEs for securitizing financial assets such as finance lease receivable and loan receivable 223,807 160,434 223,807 0 (g) VIEs for securitization of loan receivable originated by third parties 542 1,093 542 0 (h) VIEs for power generation projects 278,660 219,476 260,551 42,742 (i) Other VIEs 199,186 89,672 174,807 0 Total ¥ 897,964 ¥ 483,558 ¥ 675,948 ¥ 87,983 *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, 2021 Millions of yen Carrying amount of the Types of VIEs Total assets Non-recourse Investments Maximum exposure to loss * (a) VIEs for liquidating customer assets ¥ 27,273 ¥ 1,255 ¥ 991 ¥ 2,246 (b) VIEs for acquisition of real estate and real estate development projects for customers 317,027 6,905 4,884 11,789 (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 4,108,847 0 56,818 75,607 (f) VIEs for securitizing financial assets such as finance lease receivable and loan receivable 709 0 2 2 (g) VIEs for securitization of loan receivable originated by third parties 1,485,653 0 18,268 18,271 (h) VIEs for power generation projects 10,103 0 442 442 (i) Other VIEs 370,516 2,845 10,101 12,946 Total ¥ 6,320,128 ¥ 11,005 ¥ 91,506 ¥ 121,303 March 31, 2022 Millions of yen Carrying amount of the Types of VIEs Total assets Non-recourse Investments Maximum exposure to loss * (a) VIEs for liquidating customer assets ¥ 13,391 ¥ 405 ¥ 991 ¥ 1,396 (b) VIEs for acquisition of real estate and real estate development projects for customers 546,953 8,134 9,119 18,735 (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 6,901,686 0 79,050 123,674 (f) VIEs for securitizing financial assets such as finance lease receivable and loan receivable 154 0 2 2 (g) VIEs for securitization of loan receivable originated by third parties 1,231,246 0 15,254 15,254 (h) VIEs for power generation projects 9,103 0 402 402 (i) Other VIEs 914,801 3,140 15,098 32,123 Total ¥ 9,617,334 ¥ 11,679 ¥ 119,916 ¥ 191,586 * 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) | 12 Months Ended |
Mar. 31, 2022 | |
Investments in and Advances to Affiliates [Abstract] | |
Summary of Investment in Affiliates | Investment in affiliates at March 31, 2021 and 2022 consists of the following: Millions of yen 2021 2022 Shares ¥ 853,937 ¥ 943,090 Loans and others 33,827 34,943 ¥ 887,764 ¥ 978,033 |
Combined and Condensed Information Related to Affiliates | Combined and condensed information relating to the affiliates for fiscal 2020, 2021 and 2022 are as follows (some operation data for entities reflect only the period since the Company and its subsidiaries made the investment and on a lag basis): Millions of yen 2020 2021 2022 Operations: Total revenues ¥ 1,674,184 ¥ 1,155,974 ¥ 1,194,172 Income before income taxes 206,637 85,667 108,065 Net income 140,540 74,008 88,572 Financial position: Total assets ¥ 12,499,794 ¥ 12,858,129 ¥ 14,974,191 Total liabilities 8,428,007 9,203,980 10,729,973 Total equity 4,071,787 3,654,149 4,244,218 |
Goodwill and Other Intangible_2
Goodwill and Other Intangible Assets (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Changes in Goodwill by Reportable Segment | Changes in goodwill by reportable segment for fiscal 2020, 2021 and 2022 are as follows: Millions of yen Corporate Financial Services and Maintenance Leasing Real PE Investment and Concession Environment and Energy Insurance Banking Credit Balance at March 31, 2019 Goodwill ¥ 65,566 ¥ 16,470 ¥ 88,855 ¥ 183 ¥ 4,452 ¥ 10,971 Accumulated impairment losses (837 ) 0 0 (39 ) 0 0 64,729 16,470 88,855 144 4,452 10,971 Acquired 1,299 0 22,772 3,933 672 0 Impairment 0 0 0 0 0 0 Other (net)* 0 (111 ) (22,172 ) 0 0 0 Balance at March 31, 2020 Goodwill 66,865 16,359 89,455 4,116 5,124 10,971 Accumulated impairment losses (837 ) 0 0 (39 ) 0 0 66,028 16,359 89,455 4,077 5,124 10,971 Acquired 478 0 47,011 0 0 0 Impairment (12 ) 0 0 0 0 0 Other (net)* 7 0 (14,002 ) (3,933 ) (109 ) 0 Balance at March 31, 2021 Goodwill 67,350 16,359 122,464 183 5,015 10,971 Accumulated impairment losses (849 ) 0 0 (39 ) 0 0 66,501 16,359 122,464 144 5,015 10,971 Acquired 0 0 0 49,115 0 0 Impairment 0 (191 ) 0 0 (371 ) 0 Other (net)* (54,925 ) 0 (22,526 ) 357 0 0 Balance at March 31, 2022 Goodwill 12,425 16,359 99,938 49,655 5,015 10,971 Accumulated impairment losses (849 ) (191 ) 0 (39 ) (371 ) 0 ¥ 11,576 ¥ 16,168 ¥ 99,938 ¥ 49,616 ¥ 4,644 ¥ 10,971 Millions of yen Aircraft and Ships ORIX USA ORIX Europe Asia and Australia Corporate Total Balance at March 31, 2019 Goodwill ¥ 587 ¥ 113,801 ¥ 126,131 ¥ 7,911 ¥ 0 ¥ 434,927 Accumulated impairment losses (587 ) 0 0 (2,785 ) 0 (4,248 ) 0 113,801 126,131 5,126 0 430,679 Acquired 0 17,846 0 0 0 46,522 Impairment 0 0 0 0 0 0 Other (net)* 0 (2,401 ) (8,178 ) (521 ) 0 (33,383 ) Balance at March 31, 2020 Goodwill 587 129,246 117,953 7,390 0 448,066 Accumulated impairment losses (587 ) 0 0 (2,785 ) 0 (4,248 ) 0 129,246 117,953 4,605 0 443,818 Acquired 0 0 11,697 0 0 59,186 Impairment 0 (1,494 ) 0 0 0 (1,506 ) Other (net)* 0 566 10,847 402 0 (6,222 ) Balance at March 31, 2021 Goodwill 587 129,812 140,497 7,792 0 501,030 Accumulated impairment losses (587 ) (1,494 ) 0 (2,785 ) 0 (5,754 ) 0 128,318 140,497 5,007 0 495,276 Acquired 0 0 0 0 278 49,393 Impairment 0 0 0 0 0 (562 ) Other (net)* 0 12,682 8,773 388 0 (55,251 ) Balance at March 31, 2022 Goodwill 587 142,494 149,270 8,180 278 495,172 Accumulated impairment losses (587 ) (1,494 ) 0 (2,785 ) 0 (6,316 ) ¥ 0 ¥ 141,000 ¥ 149,270 ¥ 5,395 ¥ 278 ¥ 488,856 * Other includes foreign currency translation adjustments, decreases due to sale of ownership interest in subsidiaries and certain other reclassifications. |
Other Intangible Assets | Other intangible assets at March 31, 2021 and 2022 consist of the following: Millions of yen 2021 2022 Indefinite-lived intangible assets: Trade names ¥ 67,888 ¥ 44,975 Asset management contracts 161,081 48,533 Others 5,312 12,126 234,281 105,634 Intangible assets subject to amortization: Software 129,695 130,118 Customer relationships 155,807 143,963 Asset management contracts 0 98,014 Others 90,354 123,397 375,856 495,492 Accumulated amortization (184,589 ) (197,505 ) Net 191,267 297,987 ¥ 425,548 ¥ 403,621 |
Short-Term and Long-Term Debt (
Short-Term and Long-Term Debt (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Debt Disclosure [Abstract] | |
Composition of Short Term Debt and Weighted Average Contract Interest Rate on Short Term Debt | The composition of short-term debt and the weighted average contract interest rate on short-term debt at March 31, 2021 and 2022 are as follows: March 31, 2021 Millions of yen Weighted average rate Short-term debt in Japan, mainly from banks ¥ 81,726 0.3 % Short-term debt outside Japan, mainly from banks 209,852 1.9 Medium-term note outside Japan 1,336 3.0 Commercial paper in Japan 12,999 0.0 Commercial paper outside Japan 1,356 1.0 ¥ 307,269 1.4 March 31, 2022 Millions of yen Weighted average rate Short-term debt in Japan, mainly from banks ¥ 161,799 0.7 % Short-term debt outside Japan, mainly from banks 237,790 2.1 Commercial paper in Japan 37,999 0.0 Commercial paper outside Japan 2,051 1.0 ¥ 439,639 1.4 |
Composition of Long Term Debt, Weighted Average Contract Interest Rate on Long Term Debt and Repayment Due Dates | The composition of long-term debt, the weighted average contract interest rate on long-term debt and the repayment due dates at March 31, 2021 and 2022 are as follows: March 31, 2021 Due (Fiscal Year) Millions of yen Weighted average rate Banks: Fixed rate 2022~2037 ¥ 519,858 1.2 % Floating rate 2022~2077 2,038,098 0.8 Insurance companies and others: Fixed rate 2023~2039 328,790 0.8 Floating rate 2023~2077 302,337 0.6 Unsecured bonds 2023~2081 927,088 1.5 Unsecured notes under medium-term note program 2023~2027 141,296 3.1 Payables under securitized loan receivables and investment in securities 2022~2043 159,366 3.2 ¥ 4,416,833 1.1 March 31, 2022 Due (Fiscal Year) Millions of yen Weighted average rate Banks: Fixed rate 2023~2082 ¥ 545,320 1.3 % Floating rate 2023~2077 2,076,802 1.1 Insurance companies and others: Fixed rate 2023~2082 322,411 0.8 Floating rate 2023~2077 296,230 0.8 Unsecured bonds 2024~2081 997,654 1.6 Unsecured notes under medium-term note program 2023~2027 32,279 4.1 Payables under securitized loan receivables and investment in securities 2033~2043 156,350 3.1 ¥ 4,427,046 1.3 |
Schedule of Long Term Debt Repayment | The repayment schedule for the next five years and thereafter for long-term debt at March 31, 2022 is as follows: Years ending March 31, Millions of yen 2023 ¥ 752,828 2024 764,765 2025 610,035 2026 439,680 2027 469,840 Thereafter 1,389,898 Total ¥ 4,427,046 |
Secured Assets for Short Term and Long Term Debt Payables to Financial Institutions | Other than the assets of the consolidated VIEs pledged as collateral for financing (see Note 12 “Variable Interest Entities”), the Company and certain subsidiaries provide the following assets as collateral for the short-term and long-term debt payables to financial institutions as of March 31, 2022: Millions of yen Lease payments, loans and investment in operating leases ¥ 106,699 Investment in securities 175,912 Property under facility operations 112,730 Other assets and other 27,784 ¥ 423,125 |
Deposits (Tables)
Deposits (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Deposits [Abstract] | |
Deposits | Deposits at March 31, 2021 and 2022 consist of the following: Millions of yen 2021 2022 Time deposits ¥ 1,860,253 ¥ 1,876,129 Other deposits 457,532 400,029 Total ¥ 2,317,785 ¥ 2,276,158 |
Schedule of Time Deposits Maturity | The maturity schedule of time deposits at March 31, 2022 is as follows: Years ending March 31, Millions of yen 2023 ¥ 739,960 2024 392,234 2025 382,672 2026 245,264 2027 101,973 Thereafter 14,026 Total ¥ 1,876,129 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Income Tax Disclosure [Abstract] | |
Income before Income Taxes and Provision for Income Taxes | Income before income taxes and the provision for income taxes in fiscal 2020, 2021 and 2022 are as follows: Millions of yen 2020 2021 2022 Income before income taxes: Japan ¥ 223,327 ¥ 171,569 ¥ 311,351 Overseas 189,234 115,992 193,525 ¥ 412,561 ¥ 287,561 ¥ 504,876 Provision for income taxes: Current— Japan ¥ 55,577 ¥ 45,262 ¥ 136,623 Overseas 35,370 19,967 38,433 90,947 65,229 175,056 Deferred— Japan 9,643 10,642 (631 ) Overseas 5,247 14,876 12,839 14,890 25,518 12,208 Provision for income taxes ¥ 105,837 ¥ 90,747 ¥ 187,264 |
Reconciliations of Differences between Tax Provision Computed and Consolidated Provisions for Income Taxes | Reconciliations of the differences between the tax provision computed at the statutory rate and the consolidated provision for income taxes in fiscal 2020, 2021 and 2022 are as follows: Millions of yen 2020 2021 2022 Income before income taxes ¥ 412,561 ¥ 287,561 ¥ 504,876 Tax provision computed at the ¥ 129,957 ¥ 90,582 ¥ 159,036 Increases (reductions) in taxes due to: Change in valuation allowance 2,505 6,808 11,464 Nondeductible expenses 4,319 2,751 4,066 Nontaxable income (3,612 ) (1,629 ) (2,611 ) Effect of lower tax rates on certain subsidiaries (24,862 ) (12,895 ) (16,584 ) Effect of investor taxes on earnings of subsidiaries 3,039 4,590 8,155 Effect of the tax law and rate changes (6,642 ) 1,158 (142 ) Effect of sale or liquidation of subsidiaries 307 878 25,642 Other, net 826 (1,496 ) (1,762 ) Provision for income taxes ¥ 105,837 ¥ 90,747 ¥ 187,264 |
Total Income Tax Expense Recognized | Total income tax expense recognized in fiscal 2020, 2021 and 2022 was allocated as follows: Millions of yen 2020 2021 2022 Provision for income taxes ¥ 105,837 ¥ 90,747 ¥ 187,264 Income tax expense (benefit) allocated to other comprehensive income (loss): Net change of unrealized gains (losses) on investment in securities (7,016 ) (6,212 ) (21,897 ) Net change of debt valuation adjustments 340 (349 ) (131 ) Net change of defined benefit pension plans 448 2,615 4,889 Net change of foreign currency translation adjustments 10,276 (13,958 ) (17,347 ) Net change of unrealized gains (losses) on derivative instruments (2,163 ) 1,883 4,734 Adjustments to retained earnings for changes in accounting principles* 0 (17,113 ) (215 ) Other direct adjustments to shareholders’ equity 0 1,521 214 Total income tax expense ¥ 107,722 ¥ 59,134 ¥ 157,511 * The amount for fiscal 2021 reflects the tax effect of the adoption of Accounting Standards Update 2016-13 2019-12 |
Deferred Tax Assets and Liabilities | The tax effects of temporary differences and carryforwards giving rise to the deferred tax assets and liabilities as of March 31, 2021 and 2022 are as follows: Millions of yen 2021 2022 Assets: Net operating loss carryforwards ¥ 25,083 ¥ 32,914 Allowance for credit losses 25,322 23,381 Investment in securities 9,983 6,685 Accrued expenses 24,393 23,900 Investment in operating leases 12,911 15,099 Property under facility operations 8,480 27,358 Installment loans 4,392 4,361 Unrealized losses on investment in securities 7,859 29,372 Lease liabilities 85,422 77,367 Other 61,002 91,837 264,847 332,274 Less: valuation allowance (21,560 ) (35,155 ) 243,287 297,119 Liabilities: Net investment in Leases 9,705 13,501 Investment in operating leases 111,102 121,337 Unrealized gains on investment in securities 2,502 2,505 Deferred insurance policy acquisition costs 69,249 73,077 Policy liabilities and policy account balances 62,274 74,939 Property under facility operations 10,183 21,931 Other intangible assets 112,234 108,257 Undistributed earnings 38,408 59,134 Prepaid benefit cost 12,187 14,483 Advances paid 11,742 8,647 Right-of-use 86,064 77,003 Other 19,973 22,081 545,623 596,895 Net deferred tax liability ¥ 302,336 ¥ 299,776 Net deferred tax assets and liabilities at March 31, 2021 and 2022 are reflected in the accompanying consolidated balance sheets under the following captions: Millions of yen 2021 2022 Other assets ¥ 38,954 ¥ 46,065 Income taxes: Deferred 341,290 345,841 Net deferred tax liability ¥ 302,336 ¥ 299,776 |
Net Operating Loss Carryforwards Expire Date | The Company and certain subsidiaries have net operating loss carryforwards of ¥278,571 million at March 31, 2022, which expire as follows: Years ending March 31, Millions of yen 2023 ¥ 8,346 2024 17,768 2025 20,038 2026 24,902 2027 12,168 Thereafter 145,823 Indefinite period 49,526 Total ¥ 278,571 |
Pension Plans (Tables)
Pension Plans (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Funded Status of Defined Benefit Pension Plans | The funded status of the defined benefit pension plans, which consists of Japanese plans and overseas plans, as of March 31, 2021 and 2022 are as follows: Millions of yen Japanese plans Overseas plans 2021 2022 2021 2022 Change in benefit obligation: Benefit obligation at beginning of year ¥ 110,467 ¥ 114,556 ¥ 103,616 ¥ 128,573 Service cost 5,831 6,058 3,288 3,947 Interest cost 698 791 1,711 1,329 Actuarial loss (income) (1,550 ) (3,977 ) 12,550 (18,503 ) Plan participant’s contributions 0 0 0 295 Benefits paid (4,379 ) (4,776 ) (2,013 ) (1,552 ) Business combinations 3,087 0 0 0 Plan amendments 402 (1,642 ) 121 254 Foreign currency exchange rate change 0 0 9,300 6,805 Benefit obligation at end of year 114,556 111,010 128,573 121,148 Change in plan assets: Fair value of plan assets at beginning of year 122,780 134,392 96,994 119,858 Actual return on plan assets 11,301 2,819 13,913 (836 ) Employer contribution 3,876 3,909 2,027 2,530 Plan participant’s contributions 0 0 0 295 Benefits paid (3,565 ) (3,803 ) (1,835 ) (1,439 ) Foreign currency exchange rate change 0 0 8,759 6,843 Fair value of plan assets at end of year 134,392 137,317 119,858 127,251 The funded status of the plans ¥ 19,836 ¥ 26,307 ¥ (8,715 ) ¥ 6,103 Amount recognized in the consolidated balance sheets consists of: Prepaid benefit cost included in other assets ¥ 34,940 ¥ 40,118 ¥ 28 ¥ 7,753 Accrued benefit liability included in other liabilities (15,104 ) (13,811 ) (8,743 ) (1,650 ) Net amount recognized ¥ 19,836 ¥ 26,307 ¥ (8,715 ) ¥ 6,103 |
Defined Benefit Plan Amount Recognized in Accumulated Other Comprehensive Income (Loss), Pre-tax | Amount recognized in accumulated other comprehensive income (loss), pre-tax, Millions of yen Japanese plans Overseas plans 2021 2022 2021 2022 Net prior service credit ¥ (35 ) ¥ 266 1,277 ¥ 746 Net actuarial loss (17,119 ) (12,912 ) (15,344 ) (1,432 ) Net transition obligation 0 0 1 3 Total recognized in accumulated other comprehensive loss, pre-tax ¥ (17,154 ) ¥ (12,646 ) (14,066 ) ¥ (683 ) |
Summary Of Accumulated Benefit Obligations And Fair Value Of Plan Assets For Pension Plans | The accumulated benefit obligations and fair value of plan assets for pension plans with accumulated benefit obligations in excess of plan assets at March 31, 2021 and 2022 are as follows: Millions of yen Japanese plans Overseas plans 2021 2022 2021 2022 Accumulated benefit obligations ¥ 14,396 ¥ 13,386 ¥ 115,518 ¥ 7,407 Fair value of plan assets 0 0 113,748 5,842 |
Summary Of Projected Benefit Obligations And Fair Value Of Plan Assets For Pension Plans With Projected Defined Benefit Obligation In Excess Of Plan Assets | The projected benefit obligations and fair value of plan assets for pension plans with projected benefit obligations in excess of plan assets at March 31, 2021 and 2022 are as follows: Millions of yen Japanese plans Overseas plans 2021 2022 2021 2022 Projected benefit obligations 15,104 13,811 123,155 8,484 Fair value of plan assets 0 0 114,412 6,834 |
Net Pension Cost of Defined Benefit Plans | Net pension cost of the plans for fiscal 2020, 2021 and 2022 consists of the following: Millions of yen 2020 2021 2022 Japanese plans: Service cost ¥ 5,879 ¥ 5,831 ¥ 6,058 Interest cost 585 698 791 Expected return on plan assets (2,806 ) (2,427 ) (2,663 ) Amortization of prior service credit (820 ) (178 ) (66 ) Amortization of net actuarial loss 1,156 1,320 412 Net periodic pension cost ¥ 3,994 ¥ 5,244 ¥ 4,532 Overseas plans: Service cost ¥ 3,566 ¥ 3,288 ¥ 3,947 Interest cost 1,634 1,711 1,329 Expected return on plan assets (4,262 ) (3,618 ) (4,192 ) Amortization of prior service credit (208 ) (269 ) (320 ) Amortization of net actuarial loss 739 313 500 Amortization of transition obligation 1 1 1 Net periodic pension cost ¥ 1,470 ¥ 1,426 ¥ 1,265 Note: Net periodic pension cost is charged in personnel expenses, which is included in selling, general and administrative expenses in the consolidated statements of income. |
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Loss) | Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss) for fiscal 2020, 2021 and 2022 are summarized as follows: Millions of yen 2020 2021 2022 Japanese plans: Current year actuarial gain (loss) ¥ (1,629 ) ¥ 10,424 ¥ 3,795 Amortization of net actuarial loss 1,156 1,320 412 Prior service credit due to amendments 0 (402 ) 367 Amortization of prior service credit (820 ) (178 ) (66 ) Total recognized in other comprehensive income (loss), pre-tax ¥ (1,293 ) ¥ 11,164 ¥ 4,508 Overseas plans: Current year actuarial gain (loss) ¥ 1,117 ¥ (2,308 ) ¥ 13,672 Amortization of net actuarial loss 739 313 500 Prior service credit due to amendments 1,097 (10 ) (255 ) Amortization of prior service credit (208 ) (269 ) (320 ) Amortization of transition obligation 1 1 1 Foreign currency exchange rate change 524 (946 ) (215 ) Total recognized in other comprehensive income (loss), pre-tax ¥ 3,270 ¥ (3,219 ) ¥ 13,383 |
Significant Assumptions of Japan and Overseas Pension Plans Used to Determine Plan Amounts | Significant assumptions of Japanese pension plans and overseas pension plans used to determine these amounts are as follows: Japanese plans 2020 2021 2022 Weighted-average assumptions used to determine benefit obligations at March 31: Discount rate 0.6 % 0.7 % 0.6 % Rate of increase in compensation levels 4.0 % 4.0 % 4.0 % Interest crediting rate for cash balance plans 1.5 % 1.5 % 1.5 % Weighted-average assumptions used to determine net periodic pension cost for years ended March 31: Discount rate 0.5 % 0.6 % 0.7 % Rate of increase in compensation levels 4.4 % 4.0 % 4.0 % Expected long-term rate of return on plan assets 2.2 % 2.0 % 2.0 % Interest crediting rate for cash balance plans 1.5 % 1.5 % 1.5 % Overseas plans 2020 2021 2022 Weighted-average assumptions used to determine benefit obligations at March 31: Discount rate 1.7 % 1.0 % 1.7 % Rate of increase in compensation levels 2.2 % 2.2 % 2.2 % Interest crediting rate for cash balance plans — — — Weighted-average assumptions used to determine net periodic pension cost for years ended March 31: Discount rate 1.7 % 1.7 % 1.0 % Rate of increase in compensation levels 2.4 % 2.2 % 2.2 % Expected long-term rate of return on plan assets 3.7 % 3.3 % 3.5 % Interest crediting rate for cash balance plans — — — |
Benefits Expected to be Paid | At March 31, 2022, the benefits expected to be paid in each of the next five fiscal years, and in the aggregate for the five years thereafter are as follows: Millions of yen Years ending March 31, Japanese plans Overseas plans 2023 ¥ 5,468 ¥ 1,989 2024 5,375 2,104 2025 5,853 2,051 2026 6,048 2,137 2027 5,738 2,268 2028-2032 30,942 13,326 Total ¥ 59,424 ¥ 23,875 |
Japan | |
Fair Value of Pension Plan Assets by Asset Category | The fair value of Japanese pension plan assets at March 31, 2021 and 2022, by asset category, are as follows. The three levels of input used to measure fair value are described in Note 2 “Fair Value Measurements.” Millions of yen March 31, 2021 Total Carrying Value in Consolidated Balance Sheets Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Inputs (Level 3) Equity securities: Japan Pooled funds*1 ¥ 17,823 ¥ 0 ¥ 0 ¥ 0 Other than Japan Pooled funds*2 22,231 0 0 0 Debt securities: Japan Pooled funds*3 24,127 0 0 0 Other than Japan Pooled funds*4 36,386 0 0 0 Other assets: Life insurance company general accounts*5 28,977 0 28,977 0 Others*6 4,848 0 4,848 0 ¥ 134,392 ¥ 0 ¥ 33,825 ¥ 0 *1 These funds invest in listed shares including shares of ORIX Corporation in the amounts of ¥22 million at March 31, 2021. *2 These funds invest in listed shares. *3 These funds invest approximately 70% in Japanese government bonds, approximately 10% in Japanese municipal bonds, and approximately 20% in Japanese corporate bonds. These funds include corporate bonds of ORIX Corporation in the amounts of ¥51 million at March 31, 2021. *4 These funds invest approximately 90% in foreign government bonds and approximately 10% in foreign corporate bonds. *5 Life insurance company general accounts are accounts with guaranteed capital and minimum interest rate, in which life insurance companies manage funds on several contracts. *6 Others include derivative instruments held for hedging change in the fair value of equity securities, and short-term instruments. At March 31, 2021, our policy for the portfolio of plans consists of three major components: approximately 30% is invested in equity securities, approximately 50% is invested in debt securities and approximately 20% is invested in other assets, primarily consisting of investments in life insurance company general accounts. Level 2 assets are comprised principally of investments in life insurance company general accounts. Investments in life insurance company general accounts are valued at conversion value. Pooled funds are valued at the net asset value per share at the measurement date and they have not been classified in the fair value hierarchy. Millions of yen March 31, 2022 Total Carrying Value in Consolidated Balance Sheets Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Inputs (Level 3) Equity securities: Japan Pooled funds*1 ¥ 16,002 ¥ 0 ¥ 0 ¥ 0 Other than Japan Pooled funds*2 21,366 0 0 0 Debt securities: Japan Pooled funds*3 27,845 0 0 0 Other than Japan Pooled funds*4 38,070 0 0 0 Other assets: Life insurance company general accounts*5 29,462 0 29,462 0 Others*6 4,572 0 4,572 0 ¥ 137,317 ¥ 0 ¥ 34,034 ¥ 0 *1 These funds invest in listed shares including shares of ORIX Corporation in the amounts of ¥22 million at March 31, 2022. *2 These funds invest in listed shares. *3 These funds invest approximately 70% in Japanese government bonds, and approximately *4 These funds invest approximately 90% in foreign government bonds and approximately 10% in foreign corporate bonds. *5 Life insurance company general accounts are accounts with guaranteed capital and minimum interest rate, in which life insurance companies manage funds on several contracts. *6 Others include derivative instruments held for hedging change in the fair value of equity securities, and short-term instruments. |
Overseas plans | |
Fair Value of Pension Plan Assets by Asset Category | The fair value of overseas pension plan assets at March 31, 2021 and 2022, by asset category, are as follows. The three levels of input used to measure fair value are described in Note 2 “Fair Value Measurements.” Millions of yen March 31, 2021 Total Carrying Value in Consolidated Balance Sheets Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Inputs (Level 3) Equity securities: Other than Japan Shares ¥ 58,483 ¥ 58,483 ¥ 0 ¥ 0 Pooled funds*1 617 0 0 0 Debt securities: Other than Japan Government bonds 52,245 52,245 0 0 Municipal bonds 4,589 0 4,589 0 Other assets: Life insurance company general accounts*2 325 0 325 0 Others*3 3,599 0 3,599 0 ¥ 119,858 ¥ 110,728 ¥ 8,513 ¥ 0 *1 These funds invest in listed shares. *2 Life insurance company general accounts are accounts with guaranteed capital and minimum interest rate, in which life insurance companies manage funds on several contracts. *3 Others include derivative instruments held for hedging change in the fair value of equity securities, and short-term instruments. At March 31, 2021, our policy for the portfolio of plans consists of two major components: approximately 50% is invested in equity securities and approximately 50% is invested in debt securities. Each level into which assets are categorized is based on inputs used to measure the fair value of the assets. Level 1 assets are comprised principally of equity securities and debt securities, which are valued using unadjusted quoted market prices in active markets with sufficient volume and frequency of transactions. Level 2 assets are comprised principally of debt securities and investments in life insurance company general accounts. Investments in life insurance company general accounts are valued at conversion value. Pooled funds are valued at the net asset value per share at the measurement date and they have not been classified in the fair value hierarchy. Millions of yen March 31, 2022 Total Carrying Value in Consolidated Balance Sheets Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Inputs (Level 3) Equity securities: Other than Japan Shares ¥ 59,932 ¥ 59,932 ¥ 0 ¥ 0 Pooled funds*1 1,031 0 0 0 Debt securities: Other than Japan Government bonds 55,999 55,999 0 0 Municipal bonds 4,411 0 4,411 0 Other assets: Life insurance company general accounts*2 351 0 351 0 Others*3 5,527 0 5,527 0 ¥ 127,251 ¥ 115,931 ¥ 10,289 ¥ 0 *1 These funds invest in listed shares. *2 Life insurance company general accounts are accounts with guaranteed capital and minimum interest rate, in which life insurance companies manage funds on several contracts. *3 Others include derivative instruments held for hedging change in the fair value of equity securities, and short-term instruments. |
Redeemable Noncontrolling Int_2
Redeemable Noncontrolling Interests (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Noncontrolling Interest [Abstract] | |
Changes in Redeemable Noncontrolling Interests | Changes in redeemable noncontrolling interests in fiscal 2020, 2021 and 2022 are as follows Millions of yen 2020 2021 2022 Beginning Balance ¥9,780 ¥10,331 ¥0 Transaction with noncontrolling interests 653 (10,028 ) 0 Comprehensive income (loss) Net Income (loss) 384 (23 ) 0 Other comprehensive income (loss) Net change of foreign currency translation adjustments (197 ) (280 ) 0 Total other comprehensive income (loss) (197 ) (280 ) 0 Comprehensive income (loss) 187 (303 ) 0 Dividends (289 ) 0 0 Ending Balance ¥ 10,331 ¥ 0 ¥ 0 |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Income (Loss) (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
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 in fiscal 2020, 2021 and 2022 are as follows: Millions of yen Net unrealized Debt valuation Defined benefit pension plans Foreign currency Net unrealized Accumulated 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 ¥5,078 million (17,637 ) (17,637 ) Reclassification adjustment included in net income, net of tax of ¥1,938 million (4,819 ) (4,819 ) Debt valuation adjustments, net of tax of ¥(357) million 920 920 Reclassification adjustment included in net income, net of tax of ¥17 million (45 ) (45 ) Defined benefit pension plans, net of tax of ¥(223) million 886 886 Reclassification adjustment included in net income, net of tax of ¥(225) million 643 643 Foreign currency translation adjustments, net of tax of ¥(6,212) million (40,605 ) (40,605 ) Reclassification adjustment included in net income, net of tax of ¥(4,064) million 8,941 8,941 Net unrealized gains (losses) on derivative instruments, net of tax of ¥1,511 million (6,385 ) (6,385 ) Reclassification adjustment included in net income, net of tax of ¥652 million (2,171 ) (2,171 ) Total other comprehensive income (loss) (22,456 ) 875 1,529 (31,664 ) (8,556 ) (60,272 ) Transaction with noncontrolling interests 0 0 0 4 (2 ) 2 Less: Other Comprehensive Income (Loss) Attributable to the Noncontrolling Interests (66 ) 0 2 (2,550 ) (270 ) (2,884 ) Less: Other Comprehensive Income (Loss) Attributable to the Redeemable Noncontrolling Interests 0 0 0 (197 ) 0 (197 ) Balance at March 31, 2020 ¥ (5,001 ) ¥ 1,457 ¥ (26,375 ) ¥ (72,471 ) ¥ (16,142 ) ¥ (118,532 ) Net unrealized gains (losses) on investment in securities, net of tax of ¥5,702 million (11,188 ) (11,188 ) Reclassification adjustment included in net income, net of tax of ¥510 million 6 6 Debt valuation adjustments, net of tax of ¥321 million (826 ) (826 ) Reclassification adjustment included in net income, net of tax of ¥28 million (73 ) (73 ) Defined benefit pension plans, net of tax of ¥(2,247) million 4,511 4,511 Reclassification adjustment included in net income, net of tax of ¥(368) million 819 819 Foreign currency translation adjustments, net of tax of ¥14,709 million 32,180 32,180 Reclassification adjustment included in net income, net of tax of ¥(751) million 4,066 4,066 Net unrealized gains (losses) on derivative instruments, net of tax of ¥40 million (997 ) (997 ) Reclassification adjustment included in net income, net of tax of ¥(1,923) million 5,779 5,779 Total other comprehensive income (loss) (11,182 ) (899 ) 5,330 36,246 4,782 34,277 Less: Other Comprehensive Income Attributable to the Noncontrolling Interests 25 0 28 511 111 675 Less: Other Comprehensive Income (Loss) Attributable to the Redeemable Noncontrolling Interests 0 0 0 (280 ) 0 (280 ) Balance at March 31, 2021* ¥ (16,208 ) ¥ 558 ¥ (21,073 ) ¥ (36,456 ) ¥ (11,471 ) ¥ (84,650 ) * As of March 31, 2021, there were no net unrealized gains (losses) on investment in securities related to available-for-sale Millions of yen Net unrealized Debt valuation Defined benefit pension plans Foreign currency Net unrealized Accumulated Balance at March 31, 2021 ¥ (16,208 ) ¥ 558 ¥ (21,073 ) ¥ (36,456 ) ¥ (11,471 ) ¥ (84,650 ) Net unrealized gains (losses) on investment in securities, net of tax of ¥21,836 million (52,477 ) (52,477 ) Reclassification adjustment included in net income, net of tax of ¥61 million (4,207 ) (4,207 ) Debt valuation adjustments, net of tax of ¥121 million (311 ) (311 ) Reclassification adjustment included in net income, net of tax of ¥10 million (26 ) (26 ) Defined benefit pension plans, net of tax of ¥(4,738) million 12,626 12,626 Reclassification adjustment included in net income, net of tax of ¥(151) million 376 376 Foreign currency translation adjustments, net of tax of ¥17,642 million 105,079 105,079 Reclassification adjustment included in net income, net of tax of ¥(295) million 614 614 Net unrealized gains (losses) on derivative instruments, net of tax of ¥(3,256) million 10,634 10,634 Reclassification adjustment included in net income, net of tax of ¥(1,478) million 4,436 4,436 Total other comprehensive income (loss) (56,684 ) (337 ) 13,002 105,693 15,070 76,744 Transaction with noncontrolling interests 0 0 0 (1,472 ) (3 ) (1,475 ) Less: Other Comprehensive Income Attributable to the Noncontrolling Interests 0 0 1 5,851 808 6,660 Balance at March 31, 2022* ¥ (72,892 ) ¥ 221 ¥ (8,072 ) ¥ 61,914 ¥ 2,788 ¥ (16,041 ) * As of March 31, 2022, there were no net unrealized gains (losses) on investment in securities related to available-for-sale |
Amounts Reclassified to Net Income from Accumulated Other Comprehensive Income (loss) | Amounts reclassified to net income from accumulated other comprehensive income (loss) for fiscal 2020, 2021 and 2022 are as follows: March 31, 2020 Details about accumulated other comprehensive 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 ¥ 2,366 Gains on investment securities and dividends Sales of debt securities 6,710 Life insurance premiums and related investment income Amortization of debt securities (1,425 ) Finance revenues Amortization of debt securities (894 ) Life insurance premiums and related investment income 6,757 Total before income tax (1,938 ) Income tax (expense) or benefit ¥ 4,819 Net of tax Debt valuation adjustments Fulfillment of policy liabilities and amortization of policy account balances ¥ 62 Life insurance costs 62 Total before income tax (17 ) Income tax (expense) or benefit ¥ 45 Net of tax Defined benefit pension plans Amortization of prior service credit ¥ 1,028 See Note 18 “Pension Plans” Amortization of net actuarial loss (1,895 ) See Note 18 “Pension Plans” Amortization of transition obligation (1 ) See Note 18 “Pension Plans” (868 ) Total before income tax 225 Income tax (expense) or benefit ¥ (643 ) Net of tax Foreign currency translation adjustments Foreign exchange contracts ¥ (5,760 ) Gains on sales of subsidiaries and affiliates and liquidation losses, net/Interest expense/Write-downs of securities Sales or liquidation, other (7,245 ) Gains on sales of subsidiaries and affiliates and liquidation losses, net/Write-downs of securities (13,005 ) Total before income tax 4,064 Income tax (expense) or benefit ¥ (8,941 ) Net of tax Net unrealized gains (losses) on derivative instruments Interest rate swap agreements ¥ (775 ) Interest expense Foreign exchange contracts (338 ) Interest expense/Other (income) and expense Foreign currency swap agreements 3,936 Interest expense/Other (income) and expense 2,823 Total before income tax (652 ) Income tax (expense) or benefit ¥ 2,171 Net of tax March 31, 2021 Details about accumulated other comprehensive 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 ¥ 2,473 Gains on investment securities and dividends Sales of debt securities 5,433 Life insurance premiums and related investment income Amortization of debt securities (1,468 ) Finance revenues Amortization of debt securities (1,340 ) Life insurance premiums and related investment income Others (4,594 ) Write-downs of securities 504 Total before income tax (510 ) Income tax (expense) or benefit ¥ (6 ) Net of tax Debt valuation adjustments Fulfillment of policy liabilities and amortization of policy account balances ¥ 101 Life insurance costs 101 Total before income tax (28 ) Income tax (expense) or benefit ¥ 73 Net of tax Defined benefit pension plans Amortization of prior service credit ¥ 447 See Note 18 “Pension Plans” Amortization of net actuarial loss (1,633 ) See Note 18 “Pension Plans” Amortization of transition obligation (1 ) See Note 18 “Pension Plans” (1,187 ) Total before income tax 368 Income tax (expense) or benefit ¥ (819 ) Net of tax Foreign currency translation adjustments Foreign exchange contracts ¥ (2,057 ) Gains on sales of subsidiaries and affiliates and liquidation losses, net/Interest expense/Other (income) and expense Sales or liquidation (2,760 ) Gains on sales of subsidiaries and affiliates and liquidation losses, net (4,817 ) Total before income tax 751 Income tax (expense) or benefit ¥ (4,066 ) Net of tax Net unrealized gains (losses) on derivative instruments Interest rate swap agreements ¥ (1,522 ) Interest expense Foreign exchange contracts (242 ) Interest expense/Other (income) and expense Foreign currency swap agreements (5,938 ) Interest expense/Other (income) and expense (7,702 ) Total before income tax 1,923 Income tax (expense) or benefit ¥ (5,779 ) Net of tax March 31, 2022 Details about accumulated other comprehensive 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 ¥ 4,619 Gains on investment securities and dividends Sales of debt securities 737 Life insurance premiums and related investment income Amortization of debt securities 92 Finance revenues Amortization of debt securities (658 ) Life insurance premiums and related investment income Others (522 ) Write-downs of securities 4,268 Total before income tax (61 ) Income tax (expense) or benefit ¥ 4,207 Net of tax Debt valuation adjustments Fulfillment of policy liabilities and amortization of policy account balances ¥ 36 Life insurance costs 36 Total before income tax (10 ) Income tax (expense) or benefit ¥ 26 Net of tax Defined benefit pension plans Amortization of prior service credit ¥ 386 See Note 18 “Pension Plans” Amortization of net actuarial loss (912 ) See Note 18 “Pension Plans” Amortization of transition obligation (1 ) See Note 18 “Pension Plans” (527 ) Total before income tax 151 Income tax (expense) or benefit ¥ (376 ) Net of tax Foreign currency translation adjustments Foreign exchange contracts ¥ (1,782 ) Gains on sales of subsidiaries and affiliates and liquidation losses, net/Interest expense/Other (income) and expense Sales or liquidation 873 Gains on sales of subsidiaries and affiliates and liquidation losses, net (909 ) Total before income tax 295 Income tax (expense) or benefit ¥ (614 ) Net of tax Net unrealized gains (losses) on derivative instruments Interest rate swap agreements ¥ (1,615 ) Interest expense Foreign exchange contracts (710 ) Interest expense/Other (income) and expense Foreign currency swap agreements (3,589 ) Interest expense/Other (income) and expense (5,914 ) Total before income tax 1,478 Income tax (expense) or benefit ¥ (4,436 ) Net of tax |
ORIX Corporation Shareholders_2
ORIX Corporation Shareholders' Equity (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Stockholders' Equity Note [Abstract] | |
Changes in Number of Shares Issued | Changes in the number of shares issued in fiscal 2020, 2021 and 2022 are as follows: Number of shares 2020 2021 2022 Beginning balance 1,324,629,128 1,324,629,128 1,285,724,480 Cancellation of treasury stock 0 (38,904,648 ) (27,447,393 ) Ending balance 1,324,629,128 1,285,724,480 1,258,277,087 |
Gains on Investment Securitie_2
Gains on Investment Securities and Dividends (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Other Income and Expenses [Abstract] | |
Gains on Investment Securities and Dividends | Gains on investment securities and dividends in fiscal 2020, 2021 and 2022 consist of the following: Millions of yen 2020 2021 2022 Net gains on investment securities ¥ 20,204 ¥ 44,622 ¥ 54,585 Dividends income 2,295 1,475 1,925 ¥ 22,499 ¥ 46,097 ¥ 56,510 * Unrealized changes in fair value of investments in equity securities have been included in “Net gains on investment securities.” |
Life Insurance Operations (Tabl
Life Insurance Operations (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Insurance [Abstract] | |
Life Insurance Premiums and Related Investment Income | Life insurance premiums and related investment income in fiscal 2020, 2021 and 2022 consist of the following: Millions of yen 2020 2021 2022 Life insurance premiums ¥ 360,583 ¥ 403,799 ¥ 431,289 Life insurance related investment income* 7,195 83,751 50,521 ¥ 367,778 ¥ 487,550 ¥ 481,810 * Life insurance related investment income in fiscal 2020, 2021 and 2022 include net unrealized holding losses of ¥ 13,122 61,351 8,004 |
Reinsurance Benefits and Reinsurance Premiums Included in Life Insurance Premiums | Life insurance premiums include reinsurance benefits, net of reinsurance premiums. For fiscal 2020, 2021 and 2022, reinsurance benefits and reinsurance premiums included in life insurance premiums are as follows: Millions of yen 2020 2021 2022 Reinsurance benefits ¥ 3,268 ¥ 2,333 ¥ 2,744 Reinsurance premiums (5,395 ) (5,196 ) (4,498 ) |
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 fiscal 2020, 2021 and 2022 are mainly as follows: Millions of yen 2020 2021 2022 Life insurance premiums and related investment income : Net realized and unrealized gains or losses from investment assets ¥ (10,798 ) ¥ 76,470 ¥ 8,501 Net gains or losses from derivative contracts : 1,667 (10,271 ) (1,520 ) Futures 1,257 (9,412 ) (1,075 ) Foreign exchange contracts 8 (261 ) (445 ) Options held 402 (598 ) 0 Life insurance costs : Changes in the fair value of the policy liabilities and policy account balances ¥ (58,244 ) ¥ (35,565 ) ¥ (67,984 ) Insurance costs recognized for insurance and annuity payouts as a result of insured events 53,442 77,631 69,727 Changes in the fair value of the reinsurance contracts (5,757 ) 11,909 1,083 |
Write-Downs of Long-Lived Ass_2
Write-Downs of Long-Lived Assets (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Long-Lived Assets Classified as Held for Sale | As of March 31, 2021 and 2022, 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 2021 2022 Investment in operating leases ¥ 8,055 ¥ 35,061 Property under facility operations 0 8,376 Office facilities 0 1,375 Other assets 0 1,556 Other liabilities 0 1,761 |
Breakdowns of Recognized Impairment Losses for Difference between Carrying Amounts and Fair Values Reflected as Write-Downs of Long-Lived Assets | During fiscal 2020, 2021 and 2022, the Company and its subsidiaries recognized impairment losses for the difference between carrying amounts and fair values in the amount of ¥3,043 million, ¥3,020 million and ¥35,666 million, respectively, which are reflected as write-downs of long-lived assets. Breakdowns of these amounts are as follows. Fiscal Year ended March 31, 2020 Write-downs of the assets held for sale Write-downs due to decline in Amount (Millions of yen) The number of Amount (Millions of yen) The number of Commercial facilities other than office buildings ¥ 0 — ¥ 529 2 Condominiums 159 1 77 3 Land undeveloped or under construction 0 — 2,083 2 Others* 0 — 195 — Total ¥ 159 — ¥ 2,884 — Fiscal Year ended March 31, 2021 Write-downs of the assets held for sale Write-downs due to decline in Amount (Millions of yen) The number of Amount (Millions of yen) The number of Office buildings ¥ 0 — ¥ 331 1 Commercial facilities other than office buildings 1,067 5 189 1 Condominiums 0 — 64 2 Land undeveloped or under construction 0 — 98 2 Others* 0 — 1,271 — Total ¥ 1,067 — ¥ 1,953 — Fiscal Year ended March 31, 2022 Write-downs of the assets held for sale Write-downs due to decline in Amount (Millions of yen) The number of Amount (Millions of yen) The number of Commercial facilities other than office buildings ¥ 858 3 ¥ 11 1 Condominiums 13 2 83 49 Others* 11,878 — 22,823 — Tota l ¥ 12,749 — ¥ 22,917 — * For the “Others”, the numbers of properties are omitted. Write-downs of long-lived assets for fiscal 2020, 2021 include write-downs of ¥109 million and ¥1,099 million of hotels, respectively. Write-downs of long-lived assets for fiscal 2022 include write-downs of ¥31,205 million of property under facility operations and others held by subsidiaries , of which ¥19,564 million related to write-downs of two coal-biomass co-fired power plants, and ¥2,331 million of two aircraft. |
Per Share Data (Tables)
Per Share Data (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Earnings Per Share [Abstract] | |
Reconciliation of Differences Between Basic and Diluted Earnings Per Share (EPS) | In fiscal 2020, 2021 and 2022, there was no stock compensation which was antidilutive. Millions of yen 2020 2021 2022 Net Income attributable to ORIX Corporation shareholders ¥ 302,700 ¥ 192,384 ¥ 312,135 Thousands of shares 2020 2021 2022 Weighted-average shares 1,275,166 1,236,897 1,203,452 Effect of dilutive securities Stock compensation 1,153 1,197 1,400 Weighted-average shares for diluted EPS computation 1,276,319 1,238,094 1,204,852 Yen 2020 2021 2022 Earnings per share for net income attributable to ORIX Corporation shareholders: Basic ¥ 237.38 ¥ 155.54 ¥ 259.37 Diluted 237.17 155.39 259.07 Note: The Company’s shares held through the Board Incentive Plan Trust are included in the number of treasury stock to be deducted in calculation of the weighted-average shares for EPS computation (1,735,570 shares, 1,897,979 shares and 2,104,640 shares in fiscal 2020, 2021 and 2022). |
Derivative Financial Instrume_2
Derivative Financial Instruments and Hedging (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
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 Millions of yen Gains (losses) recognized in other comprehensive income on derivative Gains (losses) reclassified from other comprehensive income (loss) Interest expense Other (income) and expense Interest rate swap agreements ¥ (11,506 ) ¥ 775 ¥ 0 Foreign exchange contracts (241 ) (119 ) 457 Foreign currency swap agreements 3,851 413 (4,349 ) (2) Fair value hedges Gains (losses) recognized in income on derivative and other Gains (losses) recognized in income on hedged item Life insurance premiums Other (income) Life insurance premiums Other (income) Interest rate swap agreements ¥ (19,805 ) ¥ 0 ¥ 18,955 ¥ 0 Foreign exchange contracts 3,656 (187 ) (3,294 ) 244 (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 Gains on sales of Interest expense Write-downs Foreign exchange contracts ¥ 15,273 ¥ 1,594 ¥ 4,595 ¥ 2,759 Borrowings and bonds in foreign currencies 13,489 0 0 0 (4) Derivatives not designated as hedging instruments Millions of yen Gains (losses) recognized in income on derivative Life insurance premiums Interest expense Other (income) Interest rate swap agreements ¥ 0 ¥ 7 ¥ 159 Futures 1,257 0 (1,843 ) Foreign exchange contracts 204 4,803 (1,840 ) Credit derivatives held 0 0 (6 ) Options held/written and other 402 0 4,481 * 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 fiscal 2020 (see Note 24 “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) Interest expense Other (income) and expense Interest rate swap agreements ¥ 5,051 ¥ 1,522 ¥ 0 Foreign exchange contracts (45 ) 827 (585 ) Foreign currency swap agreements (6,043 ) 553 5,385 (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) Life insurance premiums Other (income) Interest rate swap agreements ¥ 9,533 ¥ 0 ¥ (8,990 ) ¥ 0 Foreign exchange contracts (5,032 ) 438 3,591 (356 ) (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 Gains on sales of Interest expense Other (income) and expense Foreign exchange contracts ¥ (27,128 ) ¥ 1,145 ¥ 3,181 ¥ 21 Borrowings and bonds in foreign currencies (15,840 ) 0 0 0 (4) Derivatives not designated as hedging instruments Millions of yen Gains (losses) recognized in income on derivative Life insurance premiums Interest expense Other (income) Interest rate swap agreements ¥ 0 ¥ 7 ¥ (13 ) Futures (9,412 ) 0 6,980 Foreign exchange contracts (215 ) 2,085 12,814 Credit derivatives held 0 0 1 Options held/written and other (598 ) 0 (2,419 ) * 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 fiscal 2021 (see Note 24 “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) Interest expense Other (income) and expense Interest rate swap agreements ¥ 16,507 ¥ 1,615 ¥ 0 Foreign exchange contracts (542 ) 223 487 Foreign currency swap agreements (2,075 ) 559 3,030 (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) Life insurance premiums Other (income) Interest rate swap agreements ¥ 4,142 ¥ 0 ¥ (4,068 ) ¥ 0 Foreign exchange contracts (37,997 ) 5 37,659 89 (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 Gains on sales of Interest expense Other (income) and expense Foreign exchange contracts ¥ (28,498 ) ¥ (104 ) ¥ 1,673 ¥ 5 Borrowings and bonds in foreign currencies (63,922 ) 0 0 0 (4) Derivatives not designated as hedging instruments Millions of yen Gains (losses) recognized in income on derivative Life insurance premiums Interest expense Other (income) Interest rate swap agreements ¥ 0 ¥ 6 ¥ (22 ) Futures (1,075 ) 0 186 Foreign exchange contracts 20,254 1,308 38,330 Credit derivatives held 0 0 (1 ) Options held/written and other 0 0 (749 ) * Futures and foreign exchange contracts in the above table include gains (losses) arising from futures and foreign exchange contracts held to economically hedge the minimum guarantee risk of variable annuity and variable life insurance contracts for fiscal 2022 (see Note 24 “Life Insurance Operations”). The effect of the components excluded from the assessment of hedge effectiveness on the consolidated statements of income, pre-tax, for fiscal 2020 is as follows. Fair value hedges Millions of yen Gains (losses) recognized in income Life insurance premiums Interest expense Other (income) Foreign exchange contracts ¥ (3,020 ) ¥ 3 ¥ 0 Options held/written and other 0 0 29 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) recognized in income Life insurance premiums Interest expense Other (income) Foreign exchange contracts ¥ (1,249 ) ¥ 6 ¥ 0 Options held/written and other 0 0 32 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 March 31, 2021 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 ¥ 314,248 ¥ 12,764 — ¥ 0 ¥ 0 Installment Loans 17,942 43 — 0 0 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) recognized in income Life insurance premiums Interest expense Other (income) Foreign exchange contracts ¥ (1,233 ) ¥ 9 ¥ 0 Options held/written and other 0 0 31 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 March 31, 2022 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 ¥ 422,938 ¥ 1,147 — ¥ 0 ¥ 0 Installment Loans 28,836 55 — 0 0 |
Schedule of Effect of Components Excluded From the Assessment of Hedge Effectiveness on the Consolidated Statements of Income | The effect of the components excluded from the assessment of hedge effectiveness on the consolidated statements of income, pre-tax, for fiscal 2020 is as follows. Fair value hedges Millions of yen Gains (losses) recognized in income Life insurance premiums Interest expense Other (income) Foreign exchange contracts ¥ (3,020 ) ¥ 3 ¥ 0 Options held/written and other 0 0 29 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) recognized in income Life insurance premiums Interest expense Other (income) Foreign exchange contracts ¥ (1,249 ) ¥ 6 ¥ 0 Options held/written and other 0 0 32 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 March 31, 2021 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 ¥ 314,248 ¥ 12,764 — ¥ 0 ¥ 0 Installment Loans 17,942 43 — 0 0 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) recognized in income Life insurance premiums Interest expense Other (income) Foreign exchange contracts ¥ (1,233 ) ¥ 9 ¥ 0 Options held/written and other 0 0 31 |
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, 2021 and 2022 are as follows. March 31, 2021 Derivative assets Derivative liabilities Notional amount Fair value Consolidated Fair value Consolidated Millions of yen Millions of yen Millions of yen Derivatives designated as hedging instruments and other: Interest rate swap agreements ¥ 531,971 ¥ 1,867 Other Assets ¥ 23,751 Other Liabilities Options held/written and other 840 26 Other Assets 0 — Futures, foreign exchange contracts 657,411 437 Other Assets 18,941 Other Liabilities Foreign currency swap agreements 76,023 146 Other Assets 4,459 Other Liabilities Foreign currency long-term debt 582,174 0 — 0 — Derivatives not designated as hedging instruments: Interest rate swap agreements ¥ 6,409 ¥ 0 — ¥ 67 Other Liabilities Options held/written and other 746,058 19,478 Other Assets 17,009 Other Liabilities Futures, foreign exchange contracts* 320,908 742 Other Assets 6,798 Other Liabilities Credit derivatives held 171 0 — 9 Other Liabilities * The notional amounts of and March 31, 2022 Derivative assets Derivative liabilities Notional amount Fair value Consolidated Fair value Consolidated Millions of yen Millions of yen Millions of yen Derivatives designated as hedging instruments and other: Interest rate swap agreements ¥ 511,224 ¥ 9,570 Other Assets ¥ 8,170 Other Liabilities Options held/written and other 847 11 Other Assets 0 — Futures, foreign exchange contracts 944,282 445 Other Assets 51,953 Other Liabilities Foreign currency swap agreements 78,445 126 Other Assets 4,518 Other Liabilities Foreign currency long-term debt 690,381 0 — 0 — Derivatives not designated as hedging instruments: Interest rate swap agreements ¥ 432 ¥ 0 — ¥ 12 Other Liabilities Options held/written and other 794,774 25,653 Other Assets 21,562 Other Liabilities Futures, foreign exchange contracts* 725,685 15,561 Other Assets 19,490 Other Liabilities * The notional amounts of futures and foreign exchange contracts in the above table include futures contracts of ¥15,088 million and foreign exchange contracts of ¥7,415 million to economically hedge the minimum guarantee risk of variable annuity and variable life insurance contracts at March 31, 2022, respectively. Derivative assets in the above table include fair value of the futures and foreign exchange contracts before offsetting of ¥79 million and ¥57 million and derivative liabilities include fair value of the futures and foreign exchange contracts before offsetting of ¥1,325 million and ¥378 million at March 31, 2022, respectively. |
Offsetting Assets and Liabili_2
Offsetting Assets and Liabilities (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
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, 2021 and 2022 are as follows. March 31, 2021 Millions of yen Gross recognized Gross amounts offset in the consolidated balance sheets Net amounts presented in the consolidated balance sheets Gross amounts not offset Net amount Financial instruments Collateral received/ Derivative assets ¥ 22,696 ¥ (1,944 ) ¥ 20,752 ¥ 0 ¥ 0 ¥ 20,752 Total assets ¥ 22,696 ¥ (1,944 ) ¥ 20,752 ¥ 0 ¥ 0 ¥ 20,752 Derivative liabilities ¥ 71,034 ¥ (1,944 ) ¥ 69,090 ¥ (18,913 ) ¥ (147 ) ¥ 50,030 Total liabilities ¥ 71,034 ¥ (1,944 ) ¥ 69,090 ¥ (18,913 ) ¥ (147 ) ¥ 50,030 March 31, 2022 Millions of yen Gross recognized Gross amounts offset in the consolidated balance sheets Net amounts presented in the consolidated balance sheets Gross amounts not offset Net amount Financial instruments Collateral received/ Derivative assets ¥ 51,366 ¥ (20,333 ) ¥ 31,033 ¥ 0 ¥ (1,060 ) ¥ 29,973 Total assets ¥ 51,366 ¥ (20,333 ) ¥ 31,033 ¥ 0 ¥ (1,060 ) ¥ 29,973 Derivative liabilities ¥ 105,705 ¥ (20,333 ) ¥ 85,372 ¥ (15,409 ) ¥ 0 ¥ 69,963 Total liabilities ¥ 105,705 ¥ (20,333 ) ¥ 85,372 ¥ (15,409 ) ¥ 0 ¥ 69,963 * 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) | 12 Months Ended |
Mar. 31, 2022 | |
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 amounts 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, 2021 Millions of yen Carrying amount Estimated fair value Level 1 Level 2 Level 3 Assets: Cash and cash equivalents ¥ 951,242 ¥ 951,242 ¥ 951,242 ¥ 0 ¥ 0 Restricted cash 128,333 128,333 128,333 0 0 Installment loans (net of allowance for credit losses) 3,613,316 3,631,561 0 166,410 3,465,151 Equity securities*1 396,465 396,465 82,039 223,016 91,410 Trading debt securities 2,654 2,654 0 2,654 0 Available-for-sale 2,003,917 2,003,917 6,012 1,864,448 133,457 Held-to-maturity 113,790 139,132 0 115,893 23,239 Other Assets: Time deposits 4,146 4,146 0 4,146 0 Derivative assets*2 20,752 20,752 0 0 0 Reinsurance recoverables (Investment contracts) 7,299 7,507 0 0 7,507 Liabilities: Short-term debt ¥ 307,269 ¥ 307,269 ¥ 0 ¥ 307,269 ¥ 0 Deposits 2,165,293 2,167,449 0 2,167,449 0 Policy liabilities and Policy account balances (Investment contracts) 196,549 196,624 0 0 196,624 Long-term debt 4,416,833 4,442,351 0 1,286,463 3,155,888 Other Liabilities: Derivative liabilities*2 69,090 69,090 0 0 0 *1 The amount of ¥13,737 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 2 “Fair Value Measurements.” March 31, 2022 Millions of yen Carrying amount Estimated fair value Level 1 Level 2 Level 3 Assets: Cash and cash equivalents ¥ 954,827 ¥ 954,827 ¥ 954,827 ¥ 0 ¥ 0 Restricted cash 136,985 136,985 136,985 0 0 Installment loans (net of allowance for credit losses) 3,814,773 3,806,552 0 261,031 3,545,521 Equity securities*1 385,271 385,271 112,200 160,099 112,972 Trading debt securities 2,503 2,503 0 2,503 0 Available-for-sale 2,174,891 2,174,891 1,095 2,032,736 141,060 Held-to-maturity 114,312 135,441 0 112,678 22,763 Other Assets: Time deposits 4,197 4,197 0 4,197 0 Derivative assets*2 31,033 31,033 0 0 0 Reinsurance recoverables (Investment contracts) 6,216 6,049 0 0 6,049 Liabilities: Short-term debt ¥ 439,639 ¥ 439,639 ¥ 0 ¥ 439,639 ¥ 0 Deposits 2,106,900 2,108,169 0 2,108,169 0 Policy liabilities and Policy account balances (Investment contracts) 178,170 178,159 0 0 178,159 Long-term debt 4,427,046 4,426,629 0 1,456,822 2,969,807 Other Liabilities: Derivative liabilities*2 85,372 85,372 0 0 0 *1 The amount of ¥25,999 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 2 “Fair Value Measurements.” |
Commitments, Guarantees and C_2
Commitments, Guarantees and Contingent Liabilities (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
Amounts Due of Certain Computer Systems Operated and Maintained under Non-cancelable Contracts with Third-party Service Providers | As of March 31, 2022, the amounts due are as follows: Years ending March 31, Millions of yen 2023 ¥ 5,205 2024 3,237 2025 2,112 2026 139 2027 70 Thereafter 11 Total ¥ 10,774 |
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, 2021 and 2022: 2021 2022 Millions of yen Fiscal year Millions of yen Fiscal year Guarantees Potential future payment Book value of guarantee liabilities Maturity contract Potential future payment Book value of guarantee liabilities Maturity contract Corporate loans ¥ 469,377 ¥ 4,768 2028 ¥ 436,414 ¥ 4,895 2027 Transferred loans 365,546 5,827 2061 417,587 4,103 2062 Consumer loans 294,250 49,025 2032 284,891 47,461 2033 Real estate loans 17,621 4,119 2048 12,087 3,953 2048 Other 598 104 2035 2,294 46 2035 Total ¥ 1,147,392 ¥ 63,843 — ¥ 1,153,273 ¥ 60,458 — |
Segment Information (Tables)
Segment Information (Tables) | 12 Months Ended |
Mar. 31, 2022 | |
Segment Reporting [Abstract] | |
Financial Information of Segments | Financial information of the segments for fiscal 2020, 2021 and 2022 is as follows: Millions of yen Fiscal Year ended March 31, 2020 Corporate Real Estate PE Environment Insurance Banking and Aircraft and Revenues ¥ 428,961 ¥ 468,086 ¥ 296,365 ¥ 147,498 ¥ 371,387 ¥ 84,355 ¥ 64,650 Finance revenues 62,327 6,723 124 1,034 220 80,868 2,478 Interest expense 6,148 1,790 911 8,403 1 4,488 18,866 Depreciation and amortization 155,704 14,881 8,015 17,188 26,560 1,288 15,705 Other significant non-cash Provision for doubtful receivables and probable loan losses 1,171 242 40 (2 ) (0 ) 11,971 (0 ) Write-downs of long-lived assets 11 303 23 2,083 0 0 0 Increase in policy liabilities and policy account balances 0 0 0 0 70,120 0 0 Equity in net income (loss) of affiliates and gains (losses) on sales of subsidiaries and affiliates and liquidation losses, net 645 28,743 35,286 176 0 3 28,244 Bargain Purchase Gain 955 0 0 0 0 0 0 Segment profits 74,712 81,513 44,508 11,147 45,954 40,816 44,885 Segment assets 1,804,216 821,194 322,522 464,273 1,580,158 2,603,736 585,304 Long-lived assets 570,014 504,544 53,347 354,510 28,911 0 258,691 Expenditures for long-lived assets 192,614 71,034 1,793 29,036 0 0 166,510 Investment in affiliates 18,347 91,835 68,603 82,253 0 400 284,453 Millions of yen Fiscal Year ended March 31, 2020 ORIX USA ORIX Europe Asia and Total Revenues ¥ 135,709 ¥ 148,524 ¥ 137,797 ¥ 2,283,332 Finance revenues 79,973 559 43,694 278,000 Interest expense 30,878 (170 ) 26,316 97,631 Depreciation and amortization 2,518 4,721 48,463 295,043 Other significant non-cash Provision for doubtful receivables and probable loan losses 7,508 (17 ) 3,512 24,425 Write-downs of long-lived assets 510 (0 ) 113 3,043 Increase in policy liabilities and policy account balances 0 0 0 70,120 Equity in net income (loss) of affiliates and gains (losses) on sales of subsidiaries and affiliates and liquidation losses, net 28,380 13,157 7,246 141,880 Bargain Purchase Gain 0 0 0 955 Segment profits 50,955 45,084 11,787 451,361 Segment assets 1,374,027 317,847 1,010,268 10,883,545 Long-lived assets 17,859 0 192,910 1,980,786 Expenditures for long-lived assets 172 0 85,621 546,780 Investment in affiliates 52,361 1,495 221,853 821,600 Millions of yen Fiscal Year ended March 31, 2021 Corporate Real Estate PE Environment Insurance Banking and Aircraft and Revenues ¥ 431,015 ¥ 359,798 ¥ 331,222 ¥ 141,971 ¥ 491,894 ¥ 83,724 ¥ 31,617 Finance revenues 58,996 6,206 152 1,315 242 78,071 1,172 Interest expense 5,613 2,282 1,455 11,469 6 4,931 12,760 Depreciation and amortization 162,620 15,249 9,406 20,221 28,366 1,279 13,566 Other significant non-cash Provision for credit losses 1,074 818 3,621 469 7 508 (159 ) Write-downs of long-lived assets 207 1,167 0 98 0 0 0 Increase in policy liabilities and policy account balances 0 0 0 0 230,947 0 0 Equity in net income (loss) of affiliates and gains (losses) on sales of subsidiaries and affiliates and liquidation losses, net 1,485 6,132 (8,449 ) 12,423 0 3 8,718 Bargain Purchase Gain 0 0 601 4,365 0 0 0 Segment profits 70,727 25,886 3,842 27,543 56,152 49,913 5,357 Segment assets 1,676,063 872,095 378,698 489,174 1,959,521 2,690,627 601,762 Long-lived assets 542,284 544,232 74,130 285,155 28,538 0 262,019 Expenditures for long-lived assets 155,713 100,494 12,123 17,681 3 0 32,920 Investment in affiliates 18,049 99,105 55,421 180,492 0 200 293,469 Millions of yen Fiscal Year ended March 31, 2021 ORIX USA ORIX Europe Asia and Total Revenues ¥ 138,017 ¥ 160,798 ¥ 128,309 ¥ 2,298,365 Finance revenues 87,172 171 39,931 273,428 Interest expense 19,598 (435 ) 19,678 77,357 Depreciation and amortization 2,474 962 50,837 304,980 Other significant non-cash Provision for credit losses 6,221 34 3,424 16,017 Write-downs of long-lived assets 1,458 0 90 3,020 Increase in policy liabilities and policy account balances 0 0 0 230,947 Equity in net income (loss) of affiliates and gains (losses) on sales of subsidiaries and affiliates and liquidation losses, net 8,423 245 (5,200 ) 23,780 Bargain Purchase Gain 0 0 0 4,966 Segment profits 40,296 39,446 13,124 332,286 Segment assets 1,220,081 369,546 1,084,222 11,341,789 Long-lived assets 13,656 0 231,307 1,981,321 Expenditures for long-lived assets 592 0 87,327 406,853 Investment in affiliates 43,816 1,770 195,413 887,735 Millions of yen Fiscal Year ended March 31, 2022 Corporate Real Estate PE Environment Insurance Banking and Aircraft and Revenues ¥ 445,338 ¥ 390,688 ¥ 385,739 ¥ 160,232 ¥ 486,704 ¥ 84,821 ¥ 38,639 Finance revenues 57,580 5,602 237 1,001 265 76,190 2,580 Interest expense 5,109 2,584 2,268 6,651 9 4,946 11,003 Depreciation and amortization 156,116 16,164 22,325 18,140 27,884 1,335 15,669 Other significant non-cash Provision for credit losses 1,296 173 924 0 (0 ) 2,395 (0 ) Write-downs of long-lived assets 1,092 88 11,657 19,564 0 0 2,331 Increase in policy liabilities and policy account balances 0 0 0 0 141,201 0 0 Equity in net income (loss) of affiliates and gains (losses) on sales of subsidiaries and affiliates and liquidation losses, net 164,020 1,575 (11,040 ) 7,295 0 1 (5,472 ) Segment profits 251,384 33,558 (11,261 ) 2,948 54,560 43,779 (1,838 ) Segment assets 1,516,795 910,101 353,581 703,608 2,072,145 2,687,156 684,098 Long-lived assets 508,035 574,661 85,698 388,399 27,962 0 271,592 Expenditures for long-lived assets 146,851 78,601 11,884 30,200 0 0 70,370 Investment in affiliates 16,929 113,178 43,498 204,260 0 67 320,058 Millions of yen Fiscal Year ended March 31, 2022 ORIX USA ORIX Europe Asia and Total Revenues ¥ 161,344 ¥ 221,112 ¥ 148,055 ¥ 2,522,672 Finance revenues 90,708 56 47,166 281,385 Interest expense 16,117 (840 ) 19,659 67,506 Depreciation and amortization 2,678 1,225 59,768 321,304 Other significant non-cash Provision for credit losses (1,726 ) 0 885 3,947 Write-downs of long-lived assets 928 0 6 35,666 Increase in policy liabilities and policy account balances 0 0 0 141,201 Equity in net income (loss) of affiliates and gains (losses) on sales of subsidiaries and affiliates and liquidation losses, net 20,593 449 25,370 202,791 Segment profits 76,263 49,559 52,255 551,207 Segment assets 1,364,142 401,869 1,306,089 11,999,584 Long-lived assets 13,399 0 280,684 2,150,430 Expenditures for long-lived assets 717 0 113,594 452,217 Investment in affiliates 45,337 2,221 232,471 978,019 |
Reconciliation of Segment Totals to Consolidated Financial Statement Amounts | 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 2020 2021 2022 Segment revenues: Total revenues for segments ¥ 2,283,332 ¥ 2,298,365 ¥ 2,522,672 Revenues related to corporate assets 16,273 12,010 16,696 Revenues from inter-segment transactions (19,276 ) (17,667 ) (19,003 ) Total consolidated revenues ¥ 2,280,329 ¥ 2,292,708 ¥ 2,520,365 Segment profits: Total segment profits ¥ 451,361 ¥ 332,286 ¥ 551,207 Corporate losses (43,842 ) (49,334 ) (52,329 ) Net income attributable to the noncontrolling interests and net income attributable to the redeemable noncontrolling interests 5,042 4,609 5,998 Total consolidated income before income taxes ¥ 412,561 ¥ 287,561 ¥ 504,876 Segment assets: Total segment assets ¥ 10,883,545 ¥ 11,341,789 ¥ 11,999,584 Cash and cash equivalents, restricted cash 1,135,284 1,079,575 1,091,812 Allowance for doubtful receivables on finance leases and probable loan losses (56,836 ) 0 0 Allowance for credit losses 0 (78,945 ) (69,459 ) Trade notes, accounts and other receivable 312,744 354,334 359,949 Other corporate assets 792,791 866,329 888,786 Total consolidated assets ¥ 13,067,528 ¥ 13,563,082 ¥ 14,270,672 |
Geographical Revenues and Income before Income Taxes | The following information represents geographical revenues and income before income taxes, which are attributed to geographic areas, based on the country location of the Company and its subsidiaries. Millions of yen Fiscal Year ended March 31, 2020 Japan The Other*2 Total Total Revenues ¥ 1,792,790 ¥ 201,578 ¥ 285,961 ¥ 2,280,329 Income before Income Taxes 266,838 68,886 76,837 412,561 Millions of yen Fiscal Year ended March 31, 2021 Japan The Other*2 Total Total Revenues ¥ 1,817,124 ¥ 208,072 ¥ 267,512 ¥ 2,292,708 Income before Income Taxes 176,256 57,709 53,596 287,561 Millions of yen Fiscal Year ended March 31, 2022 Japan The Other*2 Total Total Revenues ¥ 1,946,153 ¥ 240,234 ¥ 333,978 ¥ 2,520,365 Income before Income Taxes 322,805 95,284 86,787 504,876 *1 Mainly the United States *2 Mainly Asia, Europe, Australasia and Middle East |
Disaggregation of Revenues for Revenues From Contracts With Customers, by Goods and Services Category and Geographical Location | The following information represents disaggregation of revenues for revenues from contracts with customers, by goods or services category and geographical location. Millions of yen Fiscal Year ended March 31, 2020 Reportable segments Corporate Real Estate PE Environment Insurance Banking and Aircraft and Goods or services category Sales of goods ¥ 11,536 ¥ 4,261 ¥ 261,475 ¥ 4,796 ¥ 0 ¥ 0 ¥ 2,680 Real estate sales 0 117,969 0 0 0 0 0 Asset management and servicing 347 7,453 36 0 0 167 21 Automobile related services 60,782 0 0 232 0 0 0 Facilities operation 0 67,396 0 0 0 0 0 Environment and energy services 2,911 0 0 138,380 0 0 0 Real estate management and brokerage 0 106,375 0 0 0 0 0 Real estate contract work 0 89,522 0 0 0 0 0 Other 46,970 3,940 32,429 2,489 1,023 3,124 10,195 Total revenues from contracts with customers 122,546 396,916 293,940 145,897 1,023 3,291 12,896 Geographical location Japan 121,845 396,916 293,940 143,623 1,023 3,291 5,678 The Americas 0 0 0 0 0 0 0 Other 701 0 0 2,274 0 0 7,218 Total revenues from contracts with customers 122,546 396,916 293,940 145,897 1,023 3,291 12,896 Other revenues * 306,415 71,170 2,425 1,601 370,364 81,064 51,754 Segment revenues/Total revenues ¥ 428,961 ¥ 468,086 ¥ 296,365 ¥ 147,498 ¥ 371,387 ¥ 84,355 ¥ 64,650 Millions of yen Fiscal Year ended March 31, 2020 Reportable segments Corporate revenue and intersegment transactions Total revenues ORIX USA ORIX Asia and Total Goods or services category Sales of goods ¥ 965 ¥ 0 ¥ 487 ¥ 286,200 ¥ 1,358 ¥ 287,558 Real estate sales 984 0 0 118,953 0 118,953 Asset management and servicing 24,248 149,675 4 181,951 (100 ) 181,851 Automobile related services 0 0 16,950 77,964 23 77,987 Facilities operation 0 0 363 67,759 1,538 69,297 Environment and energy services 963 0 0 142,254 (722 ) 141,532 Real estate management and brokerage 0 0 0 106,375 (2,265 ) 104,110 Real estate contract work 0 0 0 89,522 (556 ) 88,966 Other 5,769 369 981 107,289 (3,230 ) 104,059 Total revenues from contracts with customers 32,929 150,044 18,785 1,178,267 (3,954 ) 1,174,313 Geographical location Japan 0 0 28 966,344 (1,703 ) 964,641 The Americas 32,929 67,050 0 99,979 0 99,979 Other 0 82,994 18,757 111,944 (2,251 ) 109,693 Total revenues from contracts with customers 32,929 150,044 18,785 1,178,267 (3,954 ) 1,174,313 Other revenues * 102,780 (1,520 ) 119,012 1,105,065 951 1,106,016 Segment revenues/Total revenues ¥ 135,709 ¥ 148,524 ¥ 137,797 ¥ 2,283,332 ¥ (3,003 ) ¥ 2,280,329 Millions of yen Fiscal Year ended March 31, 2021 Reportable segments Corporate Real Estate PE Environment Insurance Banking and Aircraft and Goods or services category Sales of goods ¥ 10,348 ¥ 2,836 ¥ 301,732 ¥ 3,816 ¥ 0 ¥ 0 ¥ 0 Real estate sales 0 88,512 0 0 0 0 0 Asset management and servicing 354 6,216 33 45 0 207 23 Automobile related services 59,903 0 0 225 0 0 0 Facilities operation 0 23,301 0 0 0 0 0 Environment and energy services 3,060 0 0 134,424 0 0 0 Real estate management and brokerage 0 103,457 0 0 0 0 0 Real estate contract work 0 80,455 0 0 0 0 0 Other 49,548 1,505 21,997 1,667 1,667 4,771 3,317 Total revenues from contracts with customers 123,213 306,282 323,762 140,177 1,667 4,978 3,340 Geographical location Japan 122,232 306,282 323,762 130,077 1,667 4,978 1,194 The Americas 0 0 0 0 0 0 0 Other 981 0 0 10,100 0 0 2,146 Total revenues from contracts with customers 123,213 306,282 323,762 140,177 1,667 4,978 3,340 Other revenues * 307,802 53,516 7,460 1,794 490,227 78,746 28,277 Segment revenues/Total revenues ¥ 431,015 ¥ 359,798 ¥ 331,222 ¥ 141,971 ¥ 491,894 ¥ 83,724 ¥ 31,617 Millions of yen Fiscal Year ended March 31, 2021 Reportable segments Corporate revenue and intersegment transactions Total revenues ORIX USA ORIX Asia and Total Goods or services category Sales of goods ¥ 2,407 ¥ 0 ¥ 65 ¥ 321,204 ¥ 679 ¥ 321,883 Real estate sales 558 0 0 89,070 0 89,070 Asset management and servicing 16,099 150,302 0 173,279 (88 ) 173,191 Automobile related services 0 0 11,874 72,002 (2 ) 72,000 Facilities operation 0 0 0 23,301 510 23,811 Environment and energy services 960 0 0 138,444 (1,433 ) 137,011 Real estate management and brokerage 0 0 0 103,457 (1,515 ) 101,942 Real estate contract work 0 0 0 80,455 (276 ) 80,179 Other 3,254 86 613 88,425 43 88,468 Total revenues from contracts with customers 23,278 150,388 12,552 1,089,637 (2,082 ) 1,087,555 Geographical location Japan 0 0 1 890,193 (1,956 ) 888,237 The Americas 23,278 62,249 0 85,527 0 85,527 Other 0 88,139 12,551 113,917 (126 ) 113,791 Total revenues from contracts with customers 23,278 150,388 12,552 1,089,637 (2,082 ) 1,087,555 Other revenues * 114,739 10,410 115,757 1,208,728 (3,575 ) 1,205,153 Segment revenues/Total revenues ¥ 138,017 ¥ 160,798 ¥ 128,309 ¥ 2,298,365 ¥ (5,657 ) ¥ 2,292,708 Millions of yen Fiscal Year ended March 31, 2022 Reportable segments Corporate Real Estate PE Environment Insurance Banking and Aircraft and Goods or services category Sales of goods ¥ 9,741 ¥ 2,521 ¥ 320,104 ¥ 3,861 ¥ 0 ¥ 0 ¥ 0 Real estate sales 0 94,617 0 0 0 0 0 Asset management and servicing 347 6,107 20 93 0 326 38 Automobile related services 62,897 0 0 228 0 0 0 Facilities operation 0 31,421 0 0 0 0 0 Environment and energy services 2,911 0 76 154,081 0 0 0 Real estate management and brokerage 0 102,689 0 0 0 0 0 Real estate contract work 0 93,265 0 0 0 0 0 Other 52,489 1,393 28,877 903 2,062 6,101 7,401 Total revenues from contracts with customers 128,385 332,013 349,077 159,166 2,062 6,427 7,439 Geographical location Japan 127,918 332,013 349,077 154,311 2,062 6,427 3,642 The Americas 0 0 0 0 0 0 0 Other 467 0 0 4,855 0 0 3,797 Total revenues from contracts with customers 128,385 332,013 349,077 159,166 2,062 6,427 7,439 Other revenues * 316,953 58,675 36,662 1,066 484,642 78,394 31,200 Segment revenues/Total revenues ¥ 445,338 ¥ 390,688 ¥ 385,739 ¥ 160,232 ¥ 486,704 ¥ 84,821 ¥ 38,639 Millions of yen Fiscal Year ended March 31, 2022 Reportable segments Corporate revenue and intersegment transactions Total revenues ORIX USA ORIX Asia and Total Goods or services category Sales of goods ¥ 2,251 ¥ 0 ¥ 577 ¥ 339,055 ¥ 1,642 ¥ 340,697 Real estate sales 84 0 0 94,701 (1 ) 94,700 Asset management and servicing 18,880 219,132 0 244,943 (56 ) 244,887 Automobile related services 0 0 13,630 76,755 17 76,772 Facilities operation 0 0 0 31,421 742 32,163 Environment and energy services 1,187 0 0 158,255 (1,928 ) 156,327 Real estate management and brokerage 0 0 0 102,689 (2,385 ) 100,304 Real estate contract work 0 0 0 93,265 (266 ) 92,999 Other 4,698 75 905 104,904 2,345 107,249 Total revenues from contracts with customers 27,100 219,207 15,112 1,245,988 110 1,246,098 Geographical location Japan 0 0 0 975,450 219 975,669 The Americas 27,100 77,647 0 104,747 0 104,747 Other 0 141,560 15,112 165,791 (109 ) 165,682 Total revenues from contracts with customers 27,100 219,207 15,112 1,245,988 110 1,246,098 Other revenues * 134,244 1,905 132,943 1,276,684 (2,417 ) 1,274,267 Segment revenues/Total revenues ¥ 161,344 ¥ 221,112 ¥ 148,055 ¥ 2,522,672 ¥ (2,307 ) ¥ 2,520,365 * 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. |
Significant Accounting and Re_3
Significant Accounting and Reporting Policies - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Significant Accounting Policies [Line Items] | |||
A maximum lag period of recognizing the results of subsidiaries and affiliates | 3 months | ||
Residential condominiums under development | ¥ 62,414 | ¥ 57,502 | |
Finished goods | 77,149 | 84,654 | |
Write-down on residential condominiums under development | 10,492 | 2,510 | ¥ 863 |
Increase (decrease) in retained earnings | 2,909,317 | 2,744,588 | |
Accounting Standards Update 2019-12 | |||
Significant Accounting Policies [Line Items] | |||
Increase in other liabilities | 215 | ||
Accounting Standards Update 2019-12 | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||
Significant Accounting Policies [Line Items] | |||
Increase (decrease) in retained earnings | ¥ 215 | ||
Investment in operating leases | Transportation equipment | |||
Significant Accounting Policies [Line Items] | |||
Estimated average useful lives | 7 years | ||
Investment in operating leases | Measuring and information-related equipment | |||
Significant Accounting Policies [Line Items] | |||
Estimated average useful lives | 4 years | ||
Investment in operating leases | Real Estate Asset | |||
Significant Accounting Policies [Line Items] | |||
Estimated average useful lives | 31 years | ||
Investment in operating leases | Other | |||
Significant Accounting Policies [Line Items] | |||
Estimated average useful lives | 10 years | ||
Property under Facility Operations | |||
Significant Accounting Policies [Line Items] | |||
Depreciation expenses | ¥ 29,871 | 30,448 | 27,147 |
Accumulated depreciation | 147,459 | 132,184 | |
Office Facilities | |||
Significant Accounting Policies [Line Items] | |||
Depreciation expenses | 9,083 | 8,269 | ¥ 7,714 |
Accumulated depreciation | ¥ 73,063 | ¥ 68,524 | |
Minimum | |||
Significant Accounting Policies [Line Items] | |||
Income tax settlement by tax authority | 50% | ||
Maximum | Property under Facility Operations | Buildings | |||
Significant Accounting Policies [Line Items] | |||
Estimated average useful lives | 50 years | ||
Maximum | Property under Facility Operations | Structures | |||
Significant Accounting Policies [Line Items] | |||
Estimated average useful lives | 60 years | ||
Maximum | Property under Facility Operations | Property, Plant and Equipment, Other Types | |||
Significant Accounting Policies [Line Items] | |||
Estimated average useful lives | 50 years | ||
Maximum | Office Facilities | Buildings And Structures | |||
Significant Accounting Policies [Line Items] | |||
Estimated average useful lives | 62 years | ||
Maximum | Office Facilities | Machinery and equipment | |||
Significant Accounting Policies [Line Items] | |||
Estimated average useful lives | 25 years |
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 | Mar. 31, 2022 | Mar. 31, 2021 | |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Loans held for sale | ¥ 151,601 | ¥ 63,272 | |
Trading debt securities | 2,503 | 2,654 | |
Available-for-sale debt securities | 2,174,891 | 2,003,917 | |
Derivative assets, gross amounts recognized | 51,366 | 22,696 | |
Netting | (20,333) | (1,944) | |
Net derivative assets | 31,033 | 20,752 | |
Other assets | 5,214 | 6,297 | |
Derivative liabilities, gross amounts recognized | 105,705 | 71,034 | |
Netting | (20,333) | (1,944) | |
Net derivative Liabilities | 85,372 | 69,090 | |
Policy liabilities and Policy Account Balances | 198,905 | 266,422 | |
Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Loans held for sale | [1] | 151,601 | 63,272 |
Trading debt securities | 2,503 | 2,654 | |
Available-for-sale debt securities | 2,174,891 | 2,003,917 | |
Equity securities | [2],[3] | 385,271 | 396,465 |
Derivative assets, gross amounts recognized | 51,366 | 22,696 | |
Netting | [4] | (20,333) | (1,944) |
Net derivative assets | 31,033 | 20,752 | |
Other assets | 5,214 | 6,297 | |
Total financial assets | 2,770,846 | 2,495,301 | |
Derivative liabilities, gross amounts recognized | 105,705 | 71,034 | |
Netting | [4] | (20,333) | (1,944) |
Net derivative Liabilities | 85,372 | 69,090 | |
Policy liabilities and Policy Account Balances | 198,905 | 266,422 | |
Total financial liabilities | 304,610 | 337,456 | |
Interest rate swap agreements | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Derivative assets, gross amounts recognized | 9,570 | 1,867 | |
Derivative liabilities, gross amounts recognized | 8,182 | 23,818 | |
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 | 25,664 | 19,504 | |
Derivative liabilities, gross amounts recognized | 21,562 | 17,009 | |
Futures, foreign exchange contracts | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Derivative assets, gross amounts recognized | 16,006 | 1,179 | |
Derivative liabilities, gross amounts recognized | 71,443 | 25,739 | |
Foreign currency swap agreements | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Derivative assets, gross amounts recognized | 126 | 146 | |
Derivative liabilities, gross amounts recognized | 4,518 | 4,459 | |
Credit derivatives held | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Derivative liabilities, gross amounts recognized | 9 | ||
Reinsurance Recoverable | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Other assets | 5,214 | 6,297 | |
Reinsurance Recoverable | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Other assets | [5] | 5,214 | 6,297 |
Variable Annuity and Variable Life Insurance Contracts | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Policy liabilities and Policy Account Balances | 198,905 | 266,422 | |
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 | [6] | 198,905 | 266,422 |
Japanese and foreign government bond securities | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Available-for-sale debt securities | 832,613 | 821,158 | |
Japanese and foreign government bond securities | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Available-for-sale debt securities | [7] | 832,613 | 821,158 |
Japanese prefectural and foreign municipal bond securities | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Available-for-sale debt securities | 325,604 | 276,276 | |
Japanese prefectural and foreign municipal bond securities | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Available-for-sale debt securities | 325,604 | 276,276 | |
Corporate debt securities | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Available-for-sale debt securities | 849,560 | 742,251 | |
Corporate debt securities | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Available-for-sale debt securities | [8] | 849,560 | 742,251 |
CMBS and RMBS in the Americas | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Available-for-sale debt securities | 28,732 | 34,457 | |
Other asset-backed securities and debt securities | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Available-for-sale debt securities | 138,382 | 129,775 | |
Other asset-backed securities and debt securities | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Available-for-sale debt securities | 138,382 | 129,775 | |
Level 1 | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Trading debt securities | 0 | 0 | |
Available-for-sale debt securities | 1,095 | 6,012 | |
Net derivative assets | [9] | 0 | 0 |
Net derivative Liabilities | [9] | 0 | 0 |
Level 1 | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Loans held for sale | [1] | 0 | 0 |
Trading debt securities | 0 | 0 | |
Available-for-sale debt securities | 1,095 | 6,012 | |
Equity securities | [2],[3] | 112,200 | 82,039 |
Derivative assets, gross amounts recognized | 292 | 352 | |
Netting | [4] | 0 | 0 |
Net derivative assets | 0 | 0 | |
Other assets | 0 | 0 | |
Total financial assets | 113,587 | 88,403 | |
Derivative liabilities, gross amounts recognized | 2,026 | 475 | |
Netting | [4] | 0 | 0 |
Net derivative Liabilities | 0 | 0 | |
Policy liabilities and Policy Account Balances | 0 | 0 | |
Total financial liabilities | 2,026 | 475 | |
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 | 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 | Futures, foreign exchange contracts | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Derivative assets, gross amounts recognized | 292 | 352 | |
Derivative liabilities, gross amounts recognized | 2,026 | 475 | |
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 1 | Credit derivatives held | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Derivative liabilities, gross amounts recognized | 0 | ||
Level 1 | Reinsurance Recoverable | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Other assets | [5] | 0 | 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 | [6] | 0 | 0 |
Level 1 | Japanese and foreign government bond securities | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Available-for-sale debt securities | [7] | 1,095 | 3,105 |
Level 1 | Japanese prefectural and foreign municipal bond securities | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Available-for-sale debt securities | 0 | 0 | |
Level 1 | Corporate debt securities | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Available-for-sale debt securities | [8] | 0 | 2,907 |
Level 1 | CMBS and RMBS in the Americas | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Available-for-sale debt securities | 0 | 0 | |
Level 1 | Other asset-backed securities and debt securities | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Available-for-sale debt securities | 0 | 0 | |
Level 2 | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Trading debt securities | 2,503 | 2,654 | |
Available-for-sale debt securities | 2,032,736 | 1,864,448 | |
Net derivative assets | [9] | 0 | 0 |
Net derivative Liabilities | [9] | 0 | 0 |
Level 2 | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Loans held for sale | [1] | 151,601 | 63,272 |
Trading debt securities | 2,503 | 2,654 | |
Available-for-sale debt securities | 2,032,736 | 1,864,448 | |
Equity securities | [2],[3] | 160,099 | 223,016 |
Derivative assets, gross amounts recognized | 46,214 | 8,521 | |
Netting | [4] | 0 | 0 |
Net derivative assets | 0 | 0 | |
Other assets | 0 | 0 | |
Total financial assets | 2,393,153 | 2,161,911 | |
Derivative liabilities, gross amounts recognized | 95,047 | 70,526 | |
Netting | [4] | 0 | 0 |
Net derivative Liabilities | 0 | 0 | |
Policy liabilities and Policy Account Balances | 0 | 0 | |
Total financial liabilities | 95,047 | 70,526 | |
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 | 9,570 | 1,867 | |
Derivative liabilities, gross amounts recognized | 8,182 | 23,818 | |
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 | 20,804 | 5,681 | |
Derivative liabilities, gross amounts recognized | 12,930 | 16,976 | |
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 | 15,714 | 827 | |
Derivative liabilities, gross amounts recognized | 69,417 | 25,264 | |
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 | 126 | 146 | |
Derivative liabilities, gross amounts recognized | 4,518 | 4,459 | |
Level 2 | Credit derivatives held | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Derivative liabilities, gross amounts recognized | 9 | ||
Level 2 | Reinsurance Recoverable | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Other assets | [5] | 0 | 0 |
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 | [6] | 0 | 0 |
Level 2 | Japanese and foreign government bond securities | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Available-for-sale debt securities | [7] | 831,518 | 818,053 |
Level 2 | Japanese prefectural and foreign municipal bond securities | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Available-for-sale debt securities | 322,551 | 273,515 | |
Level 2 | Corporate debt securities | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Available-for-sale debt securities | [8] | 848,863 | 738,323 |
Level 2 | CMBS and RMBS in the Americas | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Available-for-sale debt securities | 28,732 | 34,457 | |
Level 2 | Other asset-backed securities and debt securities | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Available-for-sale debt securities | 1,072 | 100 | |
Level 3 | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Trading debt securities | 0 | 0 | |
Available-for-sale debt securities | 141,060 | 133,457 | |
Net derivative assets | [9] | 0 | 0 |
Net derivative Liabilities | [9] | 0 | 0 |
Level 3 | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Loans held for sale | [1] | 0 | 0 |
Trading debt securities | 0 | 0 | |
Available-for-sale debt securities | 141,060 | 133,457 | |
Equity securities | [2],[3] | 112,972 | 91,410 |
Derivative assets, gross amounts recognized | 4,860 | 13,823 | |
Netting | [4] | 0 | 0 |
Net derivative assets | 0 | 0 | |
Other assets | 5,214 | 6,297 | |
Total financial assets | 264,106 | 244,987 | |
Derivative liabilities, gross amounts recognized | 8,632 | 33 | |
Netting | [4] | 0 | 0 |
Net derivative Liabilities | 0 | 0 | |
Policy liabilities and Policy Account Balances | 198,905 | 266,422 | |
Total financial liabilities | 207,537 | 266,455 | |
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 | 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 | 4,860 | 13,823 | |
Derivative liabilities, gross amounts recognized | 8,632 | 33 | |
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 | 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 3 | Credit derivatives held | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Derivative liabilities, gross amounts recognized | 0 | ||
Level 3 | Reinsurance Recoverable | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Other assets | [5] | 5,214 | 6,297 |
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 | [6] | 198,905 | 266,422 |
Level 3 | Japanese and foreign government bond securities | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Available-for-sale debt securities | [7] | 0 | 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] | |||
Available-for-sale debt securities | 3,053 | 2,761 | |
Level 3 | Corporate debt securities | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Available-for-sale debt securities | [8] | 697 | 1,021 |
Level 3 | CMBS and RMBS in the Americas | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Available-for-sale debt securities | 0 | 0 | |
Level 3 | Other asset-backed securities and debt securities | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Available-for-sale debt securities | ¥ 137,310 | ¥ 129,675 | |
[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”), Federal Home Loan Mortgage Corporation (“Freddie Mac”) and institutional investors. Included in “Other (income) and expense” in the consolidated statements of income were a gain of ¥5,220 million, losses of ¥3,260 million and ¥2,982 million from the change in the fair value of the loans for fiscal 2020, 2021 and 2022, respectively. No gains or losses were recognized in earnings during fiscal 2020, 2021 and 2022 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, 2021, were ¥60,556 million and ¥63,272 million, respectively, and the amount of the aggregate fair value exceeded the amount of aggregate unpaid principal balance by ¥2,716 million. The amounts of aggregate unpaid principal balance and aggregate fair value of the loans held for sale as of March 31, 2022, were ¥151,672 million and ¥151,601 million, respectively, and the amount of the aggregate fair value was less than the amount of aggregate unpaid principal balance by ¥71 million. As of March 31, 2021 and 2022, there were no loans that are 90 days or more past due or, in non-accrual status.[2]Certain subsidiaries elected the fair value option for certain investments in investment funds, and others included in equity securities. Included in “Gains on investment securities and dividends” and “Life insurance premiums and related investment income” in the consolidated statements of income were gains of ¥1,225 million, ¥3,187 million and ¥786 million from the change in the fair value of those investments for fiscal 2020, 2021 and 2022, respectively. The amounts of aggregate fair value elected the fair value option were ¥4,940 million and ¥11,709 million as of March 31, 2021 and 2022, respectively.[3]The amounts of investment funds measured at net asset value per share which are not included in the above tables were ¥13,737 million and ¥25,999 million as of March 31, 2021 and 2022, respectively.[4]It represents the amount offset under counterparty netting of derivative assets and liabilities.[5]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 ¥6,297 million and ¥5,214 million as of March 31, 2021 and 2022, respectively. For the effect of changes in the fair value of those reinsurance contracts on earnings for fiscal 2020, 2021 and 2022, see Note 25 “Life Insurance Operations.”[6]Certain subsidiaries elected the fair value option for the entire variable annuity and variable life insurance contracts held. 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 ¥266,422 million and ¥198,905 million as of March 31, 2021 and 2022, respectively. For the effect of changes in the fair value of the variable annuity and variable life insurance contracts on earnings for fiscal 2020, 2021 and 2022, see Note 25 “Life Insurance Operations.”[7]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 ¥8 million, ¥28 million and a gain of ¥51 million from the change in the fair value of those investments for fiscal 2020, 2021 and 2022, respectively. The amount of aggregate fair value elected the fair value option was ¥1,537 million as of March 31, 2021. There were no such investments elected the fair value option as of March 31, 2022.[8]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 gains of ¥210 million, ¥1,080 million and a loss of ¥365 million from the change in the fair value of those investments for fiscal 2020, 2021 and 2022, respectively. The amounts of aggregate fair value elected the fair value option were ¥2,907 million and ¥7,644 million as of March 31, 2021 and 2022, respectively.[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 2 “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 | 12 Months Ended | |||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Aggregate loan fair value | ¥ 151,601 | ¥ 63,272 | ||
Other assets | 5,214 | 6,297 | ||
Policy liabilities and Policy Account Balances | 198,905 | 266,422 | ||
Reinsurance Recoverable | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Other assets | 5,214 | 6,297 | ||
Variable Annuity and Variable Life Insurance Contracts | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Policy liabilities and Policy Account Balances | 198,905 | 266,422 | ||
Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Aggregate loan fair value | [1] | 151,601 | 63,272 | |
Other assets | 5,214 | 6,297 | ||
Policy liabilities and Policy Account Balances | 198,905 | 266,422 | ||
Fair Value, Measurements, Recurring | Reinsurance Recoverable | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Other assets | [2] | 5,214 | 6,297 | |
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] | 198,905 | 266,422 | |
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 | (2,982) | (3,260) | ¥ 5,220 | |
Gains (losses) from changes in instrument-specific credit risk | 0 | 0 | 0 | |
Aggregate unpaid loan principal balance | 151,672 | 60,556 | ||
Aggregate loan fair value | 151,601 | 63,272 | ||
Amount by which aggregate fair value of loan exceeds aggregate unpaid principal balance | 71 | 2,716 | ||
Fair Value, Measurements, Recurring | Japanese and foreign government bond securities | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Gains (losses) from change in fair value | 51 | (28) | (8) | |
Fair Value, Measurements, Recurring | Japanese and foreign government bond securities | Fair value option | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Amounts aggregate fair value elected fair value option | 0 | 1,537 | ||
Fair Value, Measurements, Recurring | Corporate debt securities | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Gains (losses) from change in fair value | (365) | 1,080 | 210 | |
Fair Value, Measurements, Recurring | Corporate debt securities | Fair value option | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Amounts aggregate fair value elected fair value option | 7,644 | 2,907 | ||
Fair Value, Measurements, Recurring | Equity securities | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Gains (losses) from change in fair value | 1,199 | 3,187 | ¥ 1,225 | |
Fair Value, Measurements, Recurring | Equity securities | Fair value option | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||
Amounts aggregate fair value elected fair value option | 11,709 | 4,940 | ||
Amounts investment funds measured at net asset value per share are not included in above tables | ¥ 25,999 | ¥ 13,737 | ||
[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”), Federal Home Loan Mortgage Corporation (“Freddie Mac”) and institutional investors. Included in “Other (income) and expense” in the consolidated statements of income were a gain of ¥5,220 million, losses of ¥3,260 million and ¥2,982 million from the change in the fair value of the loans for fiscal 2020, 2021 and 2022, respectively. No gains or losses were recognized in earnings during fiscal 2020, 2021 and 2022 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, 2021, were ¥60,556 million and ¥63,272 million, respectively, and the amount of the aggregate fair value exceeded the amount of aggregate unpaid principal balance by ¥2,716 million. The amounts of aggregate unpaid principal balance and aggregate fair value of the loans held for sale as of March 31, 2022, were ¥151,672 million and ¥151,601 million, respectively, and the amount of the aggregate fair value was less than the amount of aggregate unpaid principal balance by ¥71 million. As of March 31, 2021 and 2022, there were no loans that are 90 days or more past due or, in non-accrual status.[2]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 ¥6,297 million and ¥5,214 million as of March 31, 2021 and 2022, respectively. For the effect of changes in the fair value of those reinsurance contracts on earnings for fiscal 2020, 2021 and 2022, see Note 25 “Life Insurance Operations.”[3]Certain subsidiaries elected the fair value option for the entire variable annuity and variable life insurance contracts held. 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 ¥266,422 million and ¥198,905 million as of March 31, 2021 and 2022, respectively. For the effect of changes in the fair value of the variable annuity and variable life insurance contracts on earnings for fiscal 2020, 2021 and 2022, see Note 25 “Life Insurance Operations.” |
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) - Fair Value, Measurements, Recurring - Level 3 - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | ||
Available-for-sale debt securities | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning Balance, asset | ¥ 133,457 | ¥ 88,353 | ¥ 100,447 | |
Gains or losses (realized/ unrealized), included in earnings, asset | [1] | 7,041 | (1,065) | 1,291 |
Gains or losses (realized/ unrealized), included in other comprehensive income, asset | [2] | 6,941 | 14,870 | (13,721) |
Gains or losses (realized/ unrealized), asset, total | 13,982 | 13,805 | (12,430) | |
Purchases, asset | [3] | 51,644 | 51,270 | 41,270 |
Sales, asset | (9,465) | (12,890) | (3,925) | |
Settlements, asset | [4] | (48,558) | (5,187) | (34,018) |
Transfers in and/or out of Level 3 (net), asset | 0 | (1,894) | (2,991) | |
Ending Balance, asset | 141,060 | 133,457 | 88,353 | |
Change in unrealized gains or losses included in earnings for assets and liabilities still held at the end of period | [1] | 2,445 | (1,228) | 131 |
Change in unrealized gains or losses included in other comprehensive income for assets and liabilities still held at the end of period | [2] | 7,116 | 14,729 | |
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, asset | 2,761 | 2,832 | 2,888 | |
Gains or losses (realized/ unrealized), included in earnings, asset | [1] | 0 | (115) | 0 |
Gains or losses (realized/ unrealized), included in other comprehensive income, asset | [2] | 292 | 44 | (56) |
Gains or losses (realized/ unrealized), asset, total | 292 | (71) | (56) | |
Purchases, asset | [3] | 0 | 0 | 0 |
Sales, asset | 0 | 0 | 0 | |
Settlements, asset | [4] | 0 | 0 | 0 |
Transfers in and/or out of Level 3 (net), asset | 0 | 0 | 0 | |
Ending Balance, asset | 3,053 | 2,761 | 2,832 | |
Change in unrealized gains or losses included in earnings for assets and liabilities still held at the end of period | [1] | 0 | (115) | 0 |
Change in unrealized gains or losses included in other comprehensive income for assets and liabilities still held at the end of period | [2] | 291 | 44 | |
Available-for-sale debt securities | Corporate debt securities | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning Balance, asset | 1,021 | 3,994 | 7,158 | |
Gains or losses (realized/ unrealized), included in earnings, asset | [1] | 0 | 0 | 0 |
Gains or losses (realized/ unrealized), included in other comprehensive income, asset | [2] | (1) | 1 | (8) |
Gains or losses (realized/ unrealized), asset, total | (1) | 1 | (8) | |
Purchases, asset | [3] | 0 | 0 | 900 |
Sales, asset | 0 | 0 | 0 | |
Settlements, asset | [4] | (323) | (974) | (1,065) |
Transfers in and/or out of Level 3 (net), asset | 0 | (2,000) | (2,991) | |
Ending Balance, asset | 697 | 1,021 | 3,994 | |
Change in unrealized gains or losses included in earnings for assets and liabilities still held at the end of period | [1] | 0 | 0 | 0 |
Change in unrealized gains or losses included in other comprehensive income for assets and liabilities still held at the end of period | [2] | (1) | 1 | |
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, asset | 129,675 | 81,527 | 90,401 | |
Gains or losses (realized/ unrealized), included in earnings, asset | [1] | 7,041 | (950) | 1,291 |
Gains or losses (realized/ unrealized), included in other comprehensive income, asset | [2] | 6,650 | 14,825 | (13,657) |
Gains or losses (realized/ unrealized), asset, total | 13,691 | 13,875 | (12,366) | |
Purchases, asset | [3] | 51,644 | 51,270 | 40,370 |
Sales, asset | (9,465) | (12,890) | (3,925) | |
Settlements, asset | [4] | (48,235) | (4,213) | (32,953) |
Transfers in and/or out of Level 3 (net), asset | 0 | 106 | 0 | |
Ending Balance, asset | 137,310 | 129,675 | 81,527 | |
Change in unrealized gains or losses included in earnings for assets and liabilities still held at the end of period | [1] | 2,445 | (1,113) | 131 |
Change in unrealized gains or losses included in other comprehensive income for assets and liabilities still held at the end of period | [2] | 6,826 | 14,684 | |
Equity securities | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning Balance, asset | 91,410 | 83,901 | 61,193 | |
Gains or losses (realized/ unrealized), included in earnings, asset | [1] | 16,350 | 14,304 | 8,197 |
Gains or losses (realized/ unrealized), included in other comprehensive income, asset | [2] | 8,779 | 1,765 | (1,641) |
Gains or losses (realized/ unrealized), asset, total | 25,129 | 16,069 | 6,556 | |
Purchases, asset | [3] | 24,606 | 2,001 | 31,725 |
Sales, asset | (26,795) | (4,718) | (10,108) | |
Settlements, asset | [4] | (768) | (5,518) | (5,465) |
Transfers in and/or out of Level 3 (net), asset | (610) | (325) | 0 | |
Ending Balance, asset | 112,972 | 91,410 | 83,901 | |
Change in unrealized gains or losses included in earnings for assets and liabilities still held at the end of period | [1] | 4,555 | 14,042 | 8,033 |
Change in unrealized gains or losses included in other comprehensive income for assets and liabilities still held at the end of period | [2] | 8,743 | 1,769 | |
Equity securities | Investment funds, and others | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning Balance, asset | 91,410 | |||
Gains or losses (realized/ unrealized), included in earnings, asset | [1] | 16,350 | ||
Gains or losses (realized/ unrealized), included in other comprehensive income, asset | [2] | 8,779 | ||
Gains or losses (realized/ unrealized), asset, total | 25,129 | |||
Purchases, asset | [3] | 24,606 | ||
Sales, asset | (26,795) | |||
Settlements, asset | [4] | (768) | ||
Transfers in and/or out of Level 3 (net), asset | (610) | |||
Ending Balance, asset | 112,972 | 91,410 | ||
Change in unrealized gains or losses included in earnings for assets and liabilities still held at the end of period | [1] | 4,555 | ||
Change in unrealized gains or losses included in other comprehensive income for assets and liabilities still held at the end of period | [2] | 8,743 | ||
Equity securities | Investment funds | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning Balance, asset | 91,410 | 83,901 | 61,193 | |
Gains or losses (realized/ unrealized), included in earnings, asset | [1] | 14,304 | 8,197 | |
Gains or losses (realized/ unrealized), included in other comprehensive income, asset | [2] | 1,765 | (1,641) | |
Gains or losses (realized/ unrealized), asset, total | 16,069 | 6,556 | ||
Purchases, asset | [3] | 2,001 | 31,725 | |
Sales, asset | (4,718) | (10,108) | ||
Settlements, asset | [4] | (5,518) | (5,465) | |
Transfers in and/or out of Level 3 (net), asset | (325) | 0 | ||
Ending Balance, asset | 91,410 | 83,901 | ||
Change in unrealized gains or losses included in earnings for assets and liabilities still held at the end of period | [1] | 14,042 | 8,033 | |
Change in unrealized gains or losses included in other comprehensive income for assets and liabilities still held at the end of period | [2] | 1,769 | ||
Derivative assets and liabilities (net) | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning Balance, asset | 13,790 | 19,230 | 5,272 | |
Gains or losses (realized/ unrealized), included in earnings, asset | [1] | (18,340) | (5,474) | 10,402 |
Gains or losses (realized/ unrealized), included in other comprehensive income, asset | [2] | 778 | 34 | (192) |
Gains or losses (realized/ unrealized), asset, total | (17,562) | (5,440) | 10,210 | |
Purchases, asset | [3] | 0 | 0 | 3,748 |
Sales, asset | 0 | 0 | 0 | |
Settlements, asset | [4] | 0 | 0 | 0 |
Transfers in and/or out of Level 3 (net), asset | 0 | 0 | 0 | |
Ending Balance, asset | (3,772) | 13,790 | 19,230 | |
Change in unrealized gains or losses included in earnings for assets and liabilities still held at the end of period | [1] | (18,340) | (5,474) | 10,402 |
Change in unrealized gains or losses included in other comprehensive income for assets and liabilities still held at the end of period | [2] | 778 | 34 | |
Derivative assets and liabilities (net) | Options held/written and other | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning Balance, asset | 13,790 | 19,230 | 5,272 | |
Gains or losses (realized/ unrealized), included in earnings, asset | [1] | (18,340) | (5,474) | 10,402 |
Gains or losses (realized/ unrealized), included in other comprehensive income, asset | [2] | 778 | 34 | (192) |
Gains or losses (realized/ unrealized), asset, total | (17,562) | (5,440) | 10,210 | |
Purchases, asset | [3] | 0 | 0 | 3,748 |
Sales, asset | 0 | 0 | 0 | |
Settlements, asset | [4] | 0 | 0 | 0 |
Transfers in and/or out of Level 3 (net), asset | 0 | 0 | 0 | |
Ending Balance, asset | (3,772) | 13,790 | 19,230 | |
Change in unrealized gains or losses included in earnings for assets and liabilities still held at the end of period | [1] | (18,340) | (5,474) | 10,402 |
Change in unrealized gains or losses included in other comprehensive income for assets and liabilities still held at the end of period | [2] | 778 | 34 | |
Other assets | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning Balance, asset | 6,297 | 18,206 | 12,449 | |
Gains or losses (realized/ unrealized), included in earnings, asset | [1] | (2,146) | (14,201) | 2,937 |
Gains or losses (realized/ unrealized), included in other comprehensive income, asset | [2] | 0 | 0 | 0 |
Gains or losses (realized/ unrealized), asset, total | (2,146) | (14,201) | 2,937 | |
Purchases, asset | [3] | 1,835 | 2,713 | 3,053 |
Sales, asset | 0 | 0 | 0 | |
Settlements, asset | [4] | (772) | (421) | (233) |
Transfers in and/or out of Level 3 (net), asset | 0 | 0 | 0 | |
Ending Balance, asset | 5,214 | 6,297 | 18,206 | |
Change in unrealized gains or losses included in earnings for assets and liabilities still held at the end of period | [1] | (2,146) | (14,201) | 2,937 |
Change in unrealized gains or losses included in other comprehensive income for assets and liabilities still held at the end of period | [2] | 0 | 0 | |
Other assets | Reinsurance recoverables | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning Balance, asset | [5] | 6,297 | 18,206 | 12,449 |
Gains or losses (realized/ unrealized), included in earnings, asset | [1],[5] | (2,146) | (14,201) | 2,937 |
Gains or losses (realized/ unrealized), included in other comprehensive income, asset | [2],[5] | 0 | 0 | 0 |
Gains or losses (realized/ unrealized), asset, total | [5] | (2,146) | (14,201) | 2,937 |
Purchases, asset | [3],[5] | 1,835 | 2,713 | 3,053 |
Sales, asset | [5] | 0 | 0 | 0 |
Settlements, asset | [4],[5] | (772) | (421) | (233) |
Transfers in and/or out of Level 3 (net), asset | [5] | 0 | 0 | 0 |
Ending Balance, asset | [5] | 5,214 | 6,297 | 18,206 |
Change in unrealized gains or losses included in earnings for assets and liabilities still held at the end of period | [1],[5] | (2,146) | (14,201) | 2,937 |
Change in unrealized gains or losses included in other comprehensive income for assets and liabilities still held at the end of period | [2],[5] | 0 | 0 | |
Policy liabilities and policy account balances | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning Balance, liability | 266,422 | 300,739 | 360,198 | |
Gains or losses (realized/ unrealized), included in earnings, liability | [1] | (1,743) | (42,066) | 4,802 |
Gains or losses (realized/ unrealized), included in other comprehensive income, liability | [2] | (467) | (1,248) | 1,215 |
Gains or losses (realized/ unrealized), liability, total | (2,210) | (43,314) | 6,017 | |
Purchases, liability | [3] | 0 | 0 | 0 |
Sales, liability | 0 | 0 | 0 | |
Settlements, liability | [4] | (69,727) | (77,631) | (53,442) |
Transfers in and/or out of Level 3 (net), liability | 0 | 0 | 0 | |
Ending Balance, liability | 198,905 | 266,422 | 300,739 | |
Change in unrealized gains or losses included in earnings for assets and liabilities still held at the end of period | [1] | (1,743) | (42,066) | 4,802 |
Change in unrealized gains or losses included in other comprehensive income for assets and liabilities still held at the end of period | [2] | (467) | (1,248) | |
Policy liabilities and policy account balances | Variable annuity and variable life insurance contracts | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Beginning Balance, liability | [6] | 266,422 | 300,739 | 360,198 |
Gains or losses (realized/ unrealized), included in earnings, liability | [1],[6] | (1,743) | (42,066) | 4,802 |
Gains or losses (realized/ unrealized), included in other comprehensive income, liability | [2],[6] | (467) | (1,248) | 1,215 |
Gains or losses (realized/ unrealized), liability, total | [6] | (2,210) | (43,314) | 6,017 |
Purchases, liability | [3],[6] | 0 | 0 | 0 |
Sales, liability | [6] | 0 | 0 | 0 |
Settlements, liability | [4],[6] | (69,727) | (77,631) | (53,442) |
Transfers in and/or out of Level 3 (net), liability | [6] | 0 | 0 | 0 |
Ending Balance, liability | [6] | 198,905 | 266,422 | 300,739 |
Change in unrealized gains or losses included in earnings for assets and liabilities still held at the end of period | [1],[6] | (1,743) | (42,066) | ¥ 4,802 |
Change in unrealized gains or losses included in other comprehensive income for assets and liabilities still held at the end of period | [2],[6] | ¥ (467) | ¥ (1,248) | |
[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 “Life insurance premiums and related investment income” and derivative assets and liabilities (net) are included in “Other (income) and expense” 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. |
Fair Value Measurements - Addit
Fair Value Measurements - Additional Information (Detail) - Fair Value, Measurements, Recurring - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Corporate debt securities | |||
Fair Value Asset And Liabilities Measured On Recurring Basis [Line Items] | |||
Transferred from level 3 | ¥ 2,000 | ¥ 2,991 | |
Investment funds | |||
Fair Value Asset And Liabilities Measured On Recurring Basis [Line Items] | |||
Transferred from level 3 | ¥ 610 | 325 | |
Other asset-backed securities and debt securities | |||
Fair Value Asset And Liabilities Measured On Recurring Basis [Line Items] | |||
Transferred from level 2 to level 3 | ¥ 106 |
Fair Value Measurements (Reco_3
Fair Value Measurements (Recorded Amounts of Major Assets Measured at Fair Value on Nonrecurring Basis) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2022 | Mar. 31, 2021 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans held for sale | ¥ 151,601 | ¥ 63,272 |
Fair Value, Measurements, Nonrecurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans held for sale | 235 | 238 |
Real estate collateral-dependent loans (net of allowance for credit losses) | 6,972 | 10,679 |
Investment in operating leases and property under facility operations | 59,847 | 6,740 |
Certain equity securities | 9,451 | 10,486 |
Certain investments in affiliates | 2,846 | 11,413 |
Certain reporting units including goodwill | 192 | 775 |
Certain intangible assets acquired in a business combination fair value | 98,014 | |
Assets measured at fair value on a nonrecurring basis | 177,557 | 40,331 |
Fair Value, Measurements, Nonrecurring | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans held for sale | 0 | 0 |
Real estate collateral-dependent loans (net of allowance for credit losses) | 0 | 0 |
Investment in operating leases and property under facility operations | 0 | 0 |
Certain equity securities | 0 | 0 |
Certain investments in affiliates | 0 | 8,799 |
Certain reporting units including goodwill | 0 | 0 |
Certain intangible assets acquired in a business combination fair value | 0 | |
Assets measured at fair value on a nonrecurring basis | 0 | 8,799 |
Fair Value, Measurements, Nonrecurring | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans held for sale | 235 | 238 |
Real estate collateral-dependent loans (net of allowance for credit losses) | 0 | 0 |
Investment in operating leases and property under facility operations | 262 | 1,806 |
Certain equity securities | 9,451 | 6,909 |
Certain investments in affiliates | 0 | 0 |
Certain reporting units including goodwill | 0 | 0 |
Certain intangible assets acquired in a business combination fair value | 0 | |
Assets measured at fair value on a nonrecurring basis | 9,948 | 8,953 |
Fair Value, Measurements, Nonrecurring | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans held for sale | 0 | 0 |
Real estate collateral-dependent loans (net of allowance for credit losses) | 6,972 | 10,679 |
Investment in operating leases and property under facility operations | 59,585 | 4,934 |
Certain equity securities | 0 | 3,577 |
Certain investments in affiliates | 2,846 | 2,614 |
Certain reporting units including goodwill | 192 | 775 |
Certain intangible assets acquired in a business combination fair value | 98,014 | |
Assets measured at fair value on a nonrecurring basis | ¥ 167,609 | ¥ 22,579 |
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 | Mar. 31, 2022 JPY (¥) | Mar. 31, 2021 JPY (¥) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale debt securities | ¥ 2,174,891 | ¥ 2,003,917 | ||
Equity securities | [1] | 560,643 | 540,082 | |
Derivative assets | 31,033 | 20,752 | ||
Other assets | 5,214 | 6,297 | ||
Derivative Liability | 85,372 | 69,090 | ||
Policy liabilities and Policy Account Balances | 198,905 | 266,422 | ||
Reinsurance Recoverable | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Other assets | 5,214 | 6,297 | ||
Variable Annuity and Variable Life Insurance Contracts | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Policy liabilities and Policy Account Balances | 198,905 | 266,422 | ||
Japanese prefectural and foreign municipal bond securities | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale debt securities | 325,604 | 276,276 | ||
Corporate debt securities | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale debt securities | 849,560 | 742,251 | ||
Other asset-backed securities and debt securities | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale debt securities | 138,382 | 129,775 | ||
Level 3 | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale debt securities | 141,060 | 133,457 | ||
Equity securities | 112,972 | [2] | 91,410 | |
Derivative assets | [3] | 0 | 0 | |
Derivative Liability | [3] | 0 | 0 | |
Fair Value, Measurements, Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale debt securities | 2,174,891 | 2,003,917 | ||
Derivative assets | 31,033 | 20,752 | ||
Other assets | 5,214 | 6,297 | ||
Total | 2,770,846 | 2,495,301 | ||
Derivative Liability | 85,372 | 69,090 | ||
Policy liabilities and Policy Account Balances | 198,905 | 266,422 | ||
Total financial liabilities | 304,610 | 337,456 | ||
Fair Value, Measurements, Recurring | Reinsurance Recoverable | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Other assets | [4] | 5,214 | 6,297 | |
Fair Value, Measurements, Recurring | Variable Annuity and Variable Life Insurance Contracts | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Policy liabilities and Policy Account Balances | [5] | 198,905 | 266,422 | |
Fair Value, Measurements, Recurring | Japanese prefectural and foreign municipal bond securities | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale debt securities | 325,604 | 276,276 | ||
Fair Value, Measurements, Recurring | Corporate debt securities | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale debt securities | [6] | 849,560 | 742,251 | |
Fair Value, Measurements, Recurring | Other asset-backed securities and debt securities | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale debt securities | 138,382 | 129,775 | ||
Fair Value, Measurements, Recurring | Level 3 | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale debt securities | 141,060 | 133,457 | ||
Derivative assets | 0 | 0 | ||
Other assets | 5,214 | 6,297 | ||
Total | 264,106 | 244,987 | ||
Derivative Liability | 0 | 0 | ||
Policy liabilities and Policy Account Balances | 198,905 | 266,422 | ||
Total financial liabilities | 207,537 | 266,455 | ||
Fair Value, Measurements, Recurring | Level 3 | Reinsurance Recoverable | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Other assets | [4] | 5,214 | 6,297 | |
Fair Value, Measurements, Recurring | Level 3 | Reinsurance Recoverable | Discounted cash flows | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Other assets | 5,214 | 6,297 | ||
Fair Value, Measurements, Recurring | Level 3 | Variable Annuity and Variable Life Insurance Contracts | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Policy liabilities and Policy Account Balances | [5] | 198,905 | 266,422 | |
Fair Value, Measurements, Recurring | 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 | 198,905 | 266,422 | ||
Fair Value, Measurements, Recurring | Level 3 | Japanese prefectural and foreign municipal bond securities | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale debt securities | 3,053 | 2,761 | ||
Fair Value, Measurements, Recurring | Level 3 | Japanese prefectural and foreign municipal bond securities | Appraisals/Broker quotes | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale debt securities | 3,053 | 2,761 | ||
Fair Value, Measurements, Recurring | Level 3 | Corporate debt securities | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale debt securities | [6] | 697 | 1,021 | |
Fair Value, Measurements, Recurring | 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 | 697 | 1,021 | ||
Fair Value, Measurements, Recurring | Level 3 | Other asset-backed securities and debt securities | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale debt securities | 137,310 | 129,675 | ||
Fair Value, Measurements, Recurring | 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 | 25,666 | 25,891 | ||
Fair Value, Measurements, Recurring | Level 3 | Other asset-backed securities and debt securities | Appraisals/Broker quotes | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Available-for-sale debt securities | ¥ 111,644 | ¥ 103,784 | ||
Fair Value, Measurements, Recurring | Level 3 | Other asset-backed securities and debt securities | Probability of default | Discounted cash flows | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Significant unobservable inputs, Available-for-sale debt securities | 0.019 | 0.019 | ||
Fair Value, Measurements, Recurring | Level 3 | Investment funds | Discounted cash flows | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Equity securities | ¥ 86,903 | ¥ 78,134 | ||
Fair Value, Measurements, Recurring | Level 3 | Investment funds | Appraisals/Broker quotes | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Equity securities | 26,069 | 13,276 | ||
Fair Value, Measurements, Recurring | Level 3 | Options held/written and other | Appraisals/Broker quotes | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Derivative assets | 68 | 61 | ||
Derivative Liability | 32 | 33 | ||
Fair Value, Measurements, Recurring | Level 3 | Options held/written and other | Discount rate | Discounted cash flows | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Derivative assets | 4,792 | ¥ 13,762 | ||
Derivative Liability | ¥ 8,600 | |||
Fair Value, Measurements, Recurring | Level 3 | 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 | (0.002) | 0 | ||
Fair Value, Measurements, Recurring | Level 3 | 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 | 0 | ||
Fair Value, Measurements, Recurring | Level 3 | 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 | 0.015 | 0.015 | ||
Fair Value, Measurements, Recurring | Level 3 | 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 | 0 | ||
Fair Value, Measurements, Recurring | Level 3 | 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 | (0.002) | 0 | ||
Fair Value, Measurements, Recurring | Level 3 | Minimum | 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 | ||
Fair Value, Measurements, Recurring | Level 3 | 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 | 0.015 | 0.015 | ||
Fair Value, Measurements, Recurring | Level 3 | 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 | 0 | ||
Fair Value, Measurements, Recurring | Level 3 | 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 | 0.004 | 0.003 | ||
Fair Value, Measurements, Recurring | Level 3 | Minimum | 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 | 0.001 | 0.01 | ||
Fair Value, Measurements, Recurring | Level 3 | Minimum | Investment funds | WACC | Discounted cash flows | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Significant unobservable inputs. Equity securities | 0.119 | 0.131 | ||
Fair Value, Measurements, Recurring | Level 3 | Minimum | Investment funds | EV/Terminal EBITDA multiple | Discounted cash flows | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Significant unobservable inputs. Equity securities | 7.3 | |||
Fair Value, Measurements, Recurring | Level 3 | Minimum | Investment funds | EV/Terminal EBITDA multiple | Market Multiples | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Significant unobservable inputs. Equity securities | 8.3 | |||
Fair Value, Measurements, Recurring | Level 3 | Minimum | Investment funds | EV/Precedent transaction last twelve months EBITDA multiple | Market Multiples | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Significant unobservable inputs. Equity securities | 6.4 | 6.8 | ||
Fair Value, Measurements, Recurring | Level 3 | Minimum | Investment funds | EV/Forward EBITDA multiple | Market Multiples | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Significant unobservable inputs. Equity securities | 5.7 | 7.6 | ||
Fair Value, Measurements, Recurring | Level 3 | Minimum | Investment funds | Measurement Input EV Precedent transaction Last Twelve Months EBITDA | Market Multiples | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Significant unobservable inputs. Equity securities | 7.6 | 7.7 | ||
Fair Value, Measurements, Recurring | Level 3 | Minimum | Options held/written and other | Discount rate | Discounted cash flows | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Significant unobservable inputs, Derivative assets | 0.12 | 0.12 | ||
Significant unobservable inputs, Derivative liabilities | 0.12 | |||
Fair Value, Measurements, Recurring | Level 3 | 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 | 0.007 | 0.004 | ||
Fair Value, Measurements, Recurring | Level 3 | 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 | 1 | 1 | ||
Fair Value, Measurements, Recurring | Level 3 | 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 | 0.14 | 0.14 | ||
Fair Value, Measurements, Recurring | Level 3 | 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 | 1 | 1 | ||
Fair Value, Measurements, Recurring | Level 3 | 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 | 0.007 | 0.004 | ||
Fair Value, Measurements, Recurring | Level 3 | Maximum | 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 | 1 | ||
Fair Value, Measurements, Recurring | Level 3 | 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 | 0.30 | 0.30 | ||
Fair Value, Measurements, Recurring | Level 3 | 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 | 1 | 1 | ||
Fair Value, Measurements, Recurring | Level 3 | 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 | 0.007 | 0.018 | ||
Fair Value, Measurements, Recurring | Level 3 | Maximum | 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 | 0.512 | 0.512 | ||
Fair Value, Measurements, Recurring | Level 3 | Maximum | Investment funds | WACC | Discounted cash flows | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Significant unobservable inputs. Equity securities | 0.186 | 0.187 | ||
Fair Value, Measurements, Recurring | Level 3 | Maximum | Investment funds | EV/Terminal EBITDA multiple | Discounted cash flows | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Significant unobservable inputs. Equity securities | 10.5 | |||
Fair Value, Measurements, Recurring | Level 3 | Maximum | Investment funds | EV/Terminal EBITDA multiple | Market Multiples | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Significant unobservable inputs. Equity securities | 12 | |||
Fair Value, Measurements, Recurring | Level 3 | Maximum | Investment funds | EV/Precedent transaction last twelve months EBITDA multiple | Market Multiples | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Significant unobservable inputs. Equity securities | 12.6 | 9.5 | ||
Fair Value, Measurements, Recurring | Level 3 | Maximum | Investment funds | EV/Forward EBITDA multiple | Market Multiples | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Significant unobservable inputs. Equity securities | 12.5 | 11.6 | ||
Fair Value, Measurements, Recurring | Level 3 | Maximum | Investment funds | Measurement Input EV Precedent transaction Last Twelve Months EBITDA | Market Multiples | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Significant unobservable inputs. Equity securities | 14.5 | 10.9 | ||
Fair Value, Measurements, Recurring | Level 3 | Maximum | Options held/written and other | Discount rate | Discounted cash flows | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Significant unobservable inputs, Derivative assets | 0.34 | 0.33 | ||
Significant unobservable inputs, Derivative liabilities | 0.34 | |||
Fair Value, Measurements, Recurring | Level 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 | 0.002 | 0.001 | ||
Fair Value, Measurements, Recurring | Level 3 | 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 | 0.021 | 0.016 | ||
Fair Value, Measurements, Recurring | Level 3 | 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 | 0.055 | 0.067 | ||
Fair Value, Measurements, Recurring | Level 3 | 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 | 1 | 1 | ||
Fair Value, Measurements, Recurring | Level 3 | 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 | 0.002 | 0.001 | ||
Fair Value, Measurements, Recurring | Level 3 | Weighted Average | 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 | 0.019 | 0.016 | ||
Fair Value, Measurements, Recurring | Level 3 | 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 | 0.062 | 0.069 | ||
Fair Value, Measurements, Recurring | Level 3 | 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 | 0.718 | 0.767 | ||
Fair Value, Measurements, Recurring | Level 3 | 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 | 0.005 | 0.007 | ||
Fair Value, Measurements, Recurring | Level 3 | Weighted Average | 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 | 0.106 | 0.111 | ||
Fair Value, Measurements, Recurring | Level 3 | Weighted Average | Other asset-backed securities and debt securities | Probability of default | Discounted cash flows | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Significant unobservable inputs, Available-for-sale debt securities | 0.019 | 0.019 | ||
Fair Value, Measurements, Recurring | Level 3 | Weighted Average | Investment funds | WACC | Discounted cash flows | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Significant unobservable inputs. Equity securities | 0.163 | 0.168 | ||
Fair Value, Measurements, Recurring | Level 3 | Weighted Average | Investment funds | EV/Terminal EBITDA multiple | Discounted cash flows | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Significant unobservable inputs. Equity securities | 8.6 | |||
Fair Value, Measurements, Recurring | Level 3 | Weighted Average | Investment funds | EV/Terminal EBITDA multiple | Market Multiples | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Significant unobservable inputs. Equity securities | 9.9 | |||
Fair Value, Measurements, Recurring | Level 3 | Weighted Average | Investment funds | EV/Precedent transaction last twelve months EBITDA multiple | Market Multiples | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Significant unobservable inputs. Equity securities | 9.5 | 7.8 | ||
Fair Value, Measurements, Recurring | Level 3 | Weighted Average | Investment funds | EV/Forward EBITDA multiple | Market Multiples | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Significant unobservable inputs. Equity securities | 9.4 | 9 | ||
Fair Value, Measurements, Recurring | Level 3 | Weighted Average | Investment funds | Measurement Input EV Precedent transaction Last Twelve Months EBITDA | Market Multiples | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Significant unobservable inputs. Equity securities | 10.3 | 9.1 | ||
Fair Value, Measurements, Recurring | Level 3 | Weighted Average | Options held/written and other | Discount rate | Discounted cash flows | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Significant unobservable inputs, Derivative assets | 0.149 | 0.143 | ||
Significant unobservable inputs, Derivative liabilities | 0.149 | |||
[1]The amount of assets under management of variable annuity and variable life insurance contracts included in equity securities were ¥249,830 million and ¥185,115 million as of March 31, 2021 and 2022, respectively. The amount of investment funds that are accounted for under the equity method included in equity securities were ¥82,420 million and ¥ 90,650 million as of March 31, 2021 and 2022, respectively. The amount of investment funds and others elected the fair value option included in equity securities were ¥4,940 million and ¥11,709 million as of March 31, 2021 and 2022, respectively.[2]The amount of ¥25,999 million of investment funds measured at net asset value per share is not included.[3]It represents the amount after offset under counterparty netting of derivative assets and liabilities. For the information of input level before netting, see Note 2 “Fair Value Measurements.”[4]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 ¥6,297 million and ¥5,214 million as of March 31, 2021 and 2022, respectively. For the effect of changes in the fair value of those reinsurance contracts on earnings for fiscal 2020, 2021 and 2022, see Note 25 “Life Insurance Operations.”[5]Certain subsidiaries elected the fair value option for the entire variable annuity and variable life insurance contracts held. 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 ¥266,422 million and ¥198,905 million as of March 31, 2021 and 2022, respectively. For the effect of changes in the fair value of the variable annuity and variable life insurance contracts on earnings for fiscal 2020, 2021 and 2022, see Note 25 “Life Insurance Operations.”[6]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 gains of ¥210 million, ¥1,080 million and a loss of ¥365 million from the change in the fair value of those investments for fiscal 2020, 2021 and 2022, respectively. The amounts of aggregate fair value elected the fair value option were ¥2,907 million and ¥7,644 million as of March 31, 2021 and 2022, respectively. |
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) - Fair Value, Measurements, Nonrecurring ¥ in Millions | Mar. 31, 2022 JPY (¥) | Mar. 31, 2021 JPY (¥) Times |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Real estate collateral-dependent loans (net of allowance for credit losses) | ¥ 6,972 | ¥ 10,679 |
Investment in operating leases and property under facility operations | 59,847 | 6,740 |
Certain equity securities | 9,451 | 10,486 |
Certain investments in affiliates | 2,846 | 11,413 |
Assets, Fair Value Disclosure | 177,557 | 40,331 |
Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Real estate collateral-dependent loans (net of allowance for credit losses) | 6,972 | 10,679 |
Investment in operating leases and property under facility operations | 59,585 | 4,934 |
Certain equity securities | 0 | 3,577 |
Certain investments in affiliates | 2,846 | 2,614 |
Assets, Fair Value Disclosure | 167,609 | 22,579 |
Real Estate Collateral Dependent Loans | Level 3 | Direct capitalization | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Real estate collateral-dependent loans (net of allowance for credit losses) | 1,511 | 1,953 |
Real Estate Collateral Dependent Loans | Level 3 | Appraisals | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Real estate collateral-dependent loans (net of allowance for credit losses) | ¥ 5,461 | ¥ 8,726 |
Real Estate Collateral Dependent Loans | Level 3 | Minimum | Direct capitalization | Capitalization rate | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range Discount Rate | 0.05 | 0.051 |
Real Estate Collateral Dependent Loans | Level 3 | Maximum | Direct capitalization | Capitalization rate | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range Discount Rate | 0.085 | 0.07 |
Real Estate Collateral Dependent Loans | Level 3 | Weighted Average | Direct capitalization | Capitalization rate | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range Discount Rate | 0.061 | 0.059 |
Investment in operating leases and property under facility operations | Level 3 | Appraisals | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment in operating leases and property under facility operations | ¥ 4,934 | |
Investment in operating leases, property under facility operations, office facilities and other assets | Level 3 | Discount rate | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range Discount Rate | 0.052 | |
Investment in operating leases, property under facility operations, office facilities and other assets | Level 3 | Appraisals | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment in operating leases and property under facility operations | ¥ 27,257 | |
Investment in operating leases, property under facility operations, office facilities and other assets | Level 3 | Discounted cash flows | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment in operating leases and property under facility operations | ¥ 32,328 | |
Investment in operating leases, property under facility operations, office facilities and other assets | Level 3 | Weighted Average | Discount rate | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range Discount Rate | 0.052 | |
Certain equity securities | Level 3 | Appraisals | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Certain equity securities | 3,577 | |
Certain Investment in Affiliates | Level 3 | Appraisals | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Certain investments in affiliates | ¥ 2,846 | 2,614 |
Certain reporting units including goodwill [Member] | Level 3 | Discounted cash flows | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | ¥ 192 | |
Certain reporting units including goodwill [Member] | Level 3 | Discounted cash flows | Discount rate | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range Discount Rate | 0.107 | |
Certain reporting units including goodwill [Member] | Level 3 | Market Multiples | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | ¥ 775 | |
Certain reporting units including goodwill [Member] | Level 3 | Market Multiples | EV/Precedent transaction last twelve months EBITDA multiple | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range Discount Rate | Times | 5.5 | |
Certain reporting units including goodwill [Member] | Level 3 | Weighted Average | Discounted cash flows | Discount rate | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range Discount Rate | 0.107 | |
Certain reporting units including goodwill [Member] | Level 3 | Weighted Average | Market Multiples | EV/Precedent transaction last twelve months EBITDA multiple | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range Discount Rate | Times | 5.5 | |
Certain intangible assets acquired in business combinations [Member] | Level 3 | Discounted cash flows | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | ¥ 98,014 | |
Certain intangible assets acquired in business combinations [Member] | Level 3 | Discounted cash flows | Discount rate | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range Discount Rate | 0.109 | |
Certain intangible assets acquired in business combinations [Member] | Level 3 | Weighted Average | Discounted cash flows | Discount rate | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range Discount Rate | 0.109 |
Acquisitions and Divestitures -
Acquisitions and Divestitures - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Business Acquisition [Line Items] | ||||
Acquisitions consideration, cost of acquired entity paid in cash | ¥ 99,239 | ¥ 104,197 | ¥ 190,119 | |
Goodwill acquired | 488,856 | 495,276 | 443,818 | ¥ 430,679 |
Bargain Purchase Gain | 0 | 4,966 | 955 | |
Gains on Sales of Subsidiaries and Affiliates and Liquidation Losses, net | 187,787 | 23,300 | 74,001 | |
Real Estate Segment | ||||
Business Acquisition [Line Items] | ||||
Goodwill acquired | 16,168 | 16,359 | 16,359 | 16,470 |
Gains on Sales of Subsidiaries and Affiliates and Liquidation Losses, net | 16,223 | |||
Corporate Financial Services and Maintenance Leasing | ||||
Business Acquisition [Line Items] | ||||
Goodwill acquired | 11,576 | 66,501 | 66,028 | 64,729 |
Bargain Purchase Gain | 955 | |||
Gains on Sales of Subsidiaries and Affiliates and Liquidation Losses, net | 163,775 | |||
Corporate Financial Services and Maintenance Leasing | Yayoi Corporation | ||||
Business Acquisition [Line Items] | ||||
Gains on Sales of Subsidiaries and Affiliates and Liquidation Losses, net | 163,016 | |||
ORIX USA | ||||
Business Acquisition [Line Items] | ||||
Goodwill acquired | 141,000 | 128,318 | 129,246 | 113,801 |
Gains on Sales of Subsidiaries and Affiliates and Liquidation Losses, net | 15,815 | 4,261 | 26,424 | |
Asia and Australia | ||||
Business Acquisition [Line Items] | ||||
Goodwill acquired | 5,395 | 5,007 | 4,605 | 5,126 |
Gains on Sales of Subsidiaries and Affiliates and Liquidation Losses, net | 6,715 | 6,604 | ||
PE Investment and Concession | ||||
Business Acquisition [Line Items] | ||||
Goodwill acquired | 99,938 | 122,464 | 89,455 | 88,855 |
Bargain Purchase Gain | 601 | |||
Gains on Sales of Subsidiaries and Affiliates and Liquidation Losses, net | 18,127 | |||
ORIX Europe | ||||
Business Acquisition [Line Items] | ||||
Goodwill acquired | 149,270 | 140,497 | 117,953 | ¥ 126,131 |
Gains on Sales of Subsidiaries and Affiliates and Liquidation Losses, net | 13,085 | |||
Environmental And Energy | ||||
Business Acquisition [Line Items] | ||||
Bargain Purchase Gain | 4,365 | |||
Gains on Sales of Subsidiaries and Affiliates and Liquidation Losses, net | 1,447 | 11,516 | ||
Series of Individually Immaterial Business Acquisitions | ||||
Business Acquisition [Line Items] | ||||
Goodwill acquired | 49,393 | 59,186 | 46,522 | |
Acquired intangible assets other than goodwill | 39,977 | 30,595 | 20,437 | |
Divestiture | ||||
Business Acquisition [Line Items] | ||||
Gains on Sales of Subsidiaries and Affiliates and Liquidation Losses, net | ¥ 187,787 | ¥ 23,300 | ¥ 74,001 |
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 | 12 Months Ended | |||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | ||
Revenue From Contract With Customers [Line Items] | ||||
Total revenues from contracts with customers | ¥ 1,246,098 | ¥ 1,087,555 | ¥ 1,174,313 | |
Other revenues | [1] | 5,904 | 3,247 | 8,210 |
Total sales of goods and real estate and services income | 2,520,365 | 2,292,708 | 2,280,329 | |
Sales of goods | ||||
Revenue From Contract With Customers [Line Items] | ||||
Total revenues from contracts with customers | 340,697 | 321,883 | 287,558 | |
Real estate sales | ||||
Revenue From Contract With Customers [Line Items] | ||||
Total revenues from contracts with customers | 94,700 | 89,070 | 118,953 | |
Asset management and servicing | ||||
Revenue From Contract With Customers [Line Items] | ||||
Total revenues from contracts with customers | 244,887 | 173,191 | 181,851 | |
Automobile related services | ||||
Revenue From Contract With Customers [Line Items] | ||||
Total revenues from contracts with customers | 76,772 | 72,000 | 77,987 | |
Facilities operation | ||||
Revenue From Contract With Customers [Line Items] | ||||
Total revenues from contracts with customers | 32,163 | 23,811 | 69,297 | |
Environment and energy services | ||||
Revenue From Contract With Customers [Line Items] | ||||
Total revenues from contracts with customers | 156,327 | 137,011 | 141,532 | |
Real estate management and brokerage | ||||
Revenue From Contract With Customers [Line Items] | ||||
Total revenues from contracts with customers | 100,304 | 101,942 | 104,110 | |
Real estate contract work | ||||
Revenue From Contract With Customers [Line Items] | ||||
Total revenues from contracts with customers | 92,999 | 80,179 | 88,966 | |
Other | ||||
Revenue From Contract With Customers [Line Items] | ||||
Total revenues from contracts with customers | 107,249 | 88,468 | 104,059 | |
Sales of goods, Real estate and Services [Member] | ||||
Revenue From Contract With Customers [Line Items] | ||||
Total revenues from contracts with customers | 1,246,098 | 1,087,555 | 1,174,313 | |
Total sales of goods and real estate and services income | ¥ 1,252,002 | ¥ 1,090,802 | ¥ 1,182,523 | |
[1]Other revenues are not in the scope of revenue from contracts with customers. |
Revenues from Contracts with _4
Revenues from Contracts with Customers - Summary of Costs of Goods and Real Estate Sold and Service Expense (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Sales And Costs Of Goods And Real Estate And Services Income And Expenses [Line Items] | |||
Total expenses of costs of goods and real estate sold and services expenses | ¥ 2,218,282 | ¥ 2,033,894 | ¥ 2,010,648 |
Costs of goods sold | |||
Sales And Costs Of Goods And Real Estate And Services Income And Expenses [Line Items] | |||
Total expenses of costs of goods and real estate sold and services expenses | 302,948 | 272,657 | 247,036 |
Costs of real estate sold | |||
Sales And Costs Of Goods And Real Estate And Services Income And Expenses [Line Items] | |||
Total expenses of costs of goods and real estate sold and services expenses | 78,171 | 75,064 | 106,970 |
Asset management and servicing | |||
Sales And Costs Of Goods And Real Estate And Services Income And Expenses [Line Items] | |||
Total expenses of costs of goods and real estate sold and services expenses | 56,810 | 42,145 | 37,808 |
Automobile related services | |||
Sales And Costs Of Goods And Real Estate And Services Income And Expenses [Line Items] | |||
Total expenses of costs of goods and real estate sold and services expenses | 47,952 | 45,734 | 48,579 |
Facilities operation | |||
Sales And Costs Of Goods And Real Estate And Services Income And Expenses [Line Items] | |||
Total expenses of costs of goods and real estate sold and services expenses | 46,515 | 41,461 | 66,163 |
Environment and energy services | |||
Sales And Costs Of Goods And Real Estate And Services Income And Expenses [Line Items] | |||
Total expenses of costs of goods and real estate sold and services expenses | 122,426 | 105,246 | 110,899 |
Real estate management and brokerage | |||
Sales And Costs Of Goods And Real Estate And Services Income And Expenses [Line Items] | |||
Total expenses of costs of goods and real estate sold and services expenses | 89,457 | 89,685 | 94,119 |
Real estate contract work | |||
Sales And Costs Of Goods And Real Estate And Services Income And Expenses [Line Items] | |||
Total expenses of costs of goods and real estate sold and services expenses | 81,704 | 69,815 | 76,983 |
Other | |||
Sales And Costs Of Goods And Real Estate And Services Income And Expenses [Line Items] | |||
Total expenses of costs of goods and real estate sold and services expenses | 50,246 | 45,147 | 49,363 |
Sales of Goods and Real Estate and Service [Member] | |||
Sales And Costs Of Goods And Real Estate And Services Income And Expenses [Line Items] | |||
Total expenses of costs of goods and real estate sold and services expenses | ¥ 876,229 | ¥ 786,954 | ¥ 837,920 |
Revenues from Contracts with _5
Revenues from Contracts with Customers - Balances from Contracts with Customers in Fee Business (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2022 | Mar. 31, 2021 |
Contract with Customer, Asset and Liability [Abstract] | ||
Trade Notes, Accounts and Other Receivable | ¥ 174,667 | ¥ 180,828 |
Contract assets (Included in Other Assets) | 13,802 | 6,558 |
Contract liabilities (Included in Other Liabilities) | ¥ 32,978 | ¥ 40,436 |
Revenues from Contracts with _6
Revenues from Contracts with Customers - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Revenue From Contract With Customers [Line Items] | ||
Revenue included in contract liabilities | ¥ 35,258 | ¥ 30,367 |
Revenue remaining performance obligation | 147,017 | |
Contract with customer liability decreased due to deconsolidation | ¥ 12,536 | |
Automobile Services [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-03-31 | ||
Revenue From Contract With Customers [Line Items] | ||
Revenue remaining performance obligation expected timing of satisfaction period | 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 13 years. |
Cash Flow Information - Summary
Cash Flow Information - Summary of Cash, Cash Equivalents and Restricted Cash (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 |
Supplemental Cash Flow Elements [Abstract] | ||||
Cash and cash equivalents | ¥ 954,827 | ¥ 951,242 | ||
Restricted Cash | 136,985 | 128,333 | ||
Cash, Cash Equivalents and Restricted Cash | ¥ 1,091,812 | ¥ 1,079,575 | ¥ 1,135,284 | ¥ 1,283,580 |
Cash Flow Information (Cash Pay
Cash Flow Information (Cash Payments) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Cash payments: | |||
Interest | ¥ 65,965 | ¥ 80,313 | ¥ 99,788 |
Income taxes, net | ¥ 83,030 | ¥ 76,292 | ¥ 124,236 |
Cash Flow Information - Additio
Cash Flow Information - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Schedule of Cash Flow, Supplemental [Line Items] | |||
Real estate under operating leases transferred from installment loans as a result of real estate collateral acquired from non-recourse loans | ¥ 464 | ¥ 75 | |
Assets decreased due to deconsolidation of VIEs | 13,378 | 5,218 | ¥ 1,281 |
Liabilities decreased due to deconsolidation of VIEs | 943 | 18 | 33 |
Property, Plant and Equipment, Other Types | |||
Schedule of Cash Flow, Supplemental [Line Items] | |||
Real estate under operating leases transferred from installment loans as a result of real estate collateral acquired from non-recourse loans | ¥ 6 | ¥ 1 | ¥ 29 |
Leases - Lessor_ Lease Income (
Leases - Lessor: Lease Income (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | ||
Lease income—net investment in leases | ||||
Interest income | ¥ 73,379 | ¥ 69,718 | ¥ 72,663 | |
Other | 2,598 | 2,113 | 2,412 | |
Lease income - operating leases | [1] | 450,454 | 397,065 | 430,665 |
Total lease income | ¥ 526,431 | ¥ 468,896 | ¥ 505,740 | |
[1]Gains from the disposition of real estate under operating leases included in operating lease revenues were ¥30,154 million, ¥15,459 million and ¥17,912 million, and gains from the disposition of operating lease assets other than real estate included in operating lease revenues were ¥20,918 million, ¥10,899 million and ¥22,236 million for fiscal 2020, 2021 and 2022, respectively. |
Lease Income (Operating Lease)
Lease Income (Operating Lease) (Parenthetical) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Lessor, Lease, Description [Line Items] | |||
Gains on sales of operating lease assets | ¥ 40,148 | ¥ 26,358 | ¥ 51,072 |
Real Estate Asset | |||
Lessor, Lease, Description [Line Items] | |||
Gains on sales of operating lease assets | 17,912 | 15,459 | 30,154 |
Operating Lease Assets Other than Real Estate | |||
Lessor, Lease, Description [Line Items] | |||
Gains on sales of operating lease assets | ¥ 22,236 | ¥ 10,899 | ¥ 20,918 |
Leases - Additional Information
Leases - Additional Information (Detail) | 12 Months Ended |
Mar. 31, 2022 | |
Schedule of Operating Leases [Line Items] | |
Lease receivable of net investment expiration period | 27 years |
Remaining expiration period | 59 years |
Leases - Lessor_ Net Investment
Leases - Lessor: Net Investment in Leases (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2022 | Mar. 31, 2021 |
Schedule Of Net Investment In Direct Financing And Sales Type Lease [Abstract] | ||
Lease receivables | ¥ 1,029,157 | ¥ 998,050 |
Unguaranteed residual value | 27,361 | 29,245 |
Initial direct costs | 1,455 | 2,223 |
Total | ¥ 1,057,973 | ¥ 1,029,518 |
Leases - Lessor_ Investment in
Leases - Lessor: Investment in Operating Leases (Detail) - Investment in Operating Leases - JPY (¥) ¥ in Millions | Mar. 31, 2022 | Mar. 31, 2021 |
Property Subject to or Available for Operating Lease [Line Items] | ||
Property Subject to or Available for Operating Lease, Gross | ¥ 2,144,574 | ¥ 2,006,993 |
Accumulated depreciation | (819,839) | (741,022) |
Net | 1,324,735 | 1,265,971 |
Right-of-use assets | 107,742 | 114,268 |
Accrued rental receivables | 31,639 | 28,259 |
Allowance for doubtful receivables on operating leases | (914) | (309) |
Investment in Operating Leases | 1,463,202 | 1,408,189 |
Transportation equipment | ||
Property Subject to or Available for Operating Lease [Line Items] | ||
Property Subject to or Available for Operating Lease, Gross | 1,438,621 | 1,364,559 |
Measuring and information-related equipment | ||
Property Subject to or Available for Operating Lease [Line Items] | ||
Property Subject to or Available for Operating Lease, Gross | 326,680 | 307,010 |
Real estate | ||
Property Subject to or Available for Operating Lease [Line Items] | ||
Property Subject to or Available for Operating Lease, Gross | 307,338 | 291,917 |
Other | ||
Property Subject to or Available for Operating Lease [Line Items] | ||
Property Subject to or Available for Operating Lease, Gross | ¥ 71,935 | ¥ 43,507 |
Leases - Lessor_ Depreciation a
Leases - Lessor: Depreciation and Various Expenses Included in Costs of Operating Leases (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Leases [Abstract] | |||
Depreciation expenses | ¥ 231,643 | ¥ 217,212 | ¥ 209,586 |
Various expenses | 90,427 | 78,416 | 80,018 |
Costs of operating leases | ¥ 322,070 | ¥ 295,628 | ¥ 289,604 |
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 | Mar. 31, 2022 JPY (¥) |
Operating leases | |
2023 | ¥ 317,352 |
2024 | 197,240 |
2025 | 127,457 |
2026 | 74,731 |
2027 | 40,814 |
Thereafter | 106,272 |
Total lease payments | 863,866 |
Net investment in leases | |
2023 | 442,235 |
2024 | 287,329 |
2025 | 185,993 |
2026 | 107,983 |
2027 | 63,018 |
Thereafter | 64,976 |
Total lease payments | 1,151,534 |
Less imputed interest | (122,377) |
Total lease receivables | ¥ 1,029,157 |
Leases - Lessee_ Component of L
Leases - Lessee: Component of Lease Expense (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Finance Leases Cost [Abstract] | |||
Depreciation expenses of right-of-use assets | ¥ 534 | ¥ 359 | ¥ 743 |
Interest expenses of lease liabilities | 106 | 131 | 302 |
Finance lease cost total | 640 | 490 | 1,045 |
Operating lease cost | 49,725 | 42,964 | 42,427 |
Short-term lease cost | 3,034 | 3,347 | 2,633 |
Variable lease cost | 65 | 230 | 948 |
Sublease income | (3,192) | (4,142) | (3,688) |
Total | ¥ 50,272 | ¥ 42,889 | ¥ 43,365 |
Leases - Lessee_ Supplemental C
Leases - Lessee: Supplemental Cash Flow Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Schedule Of Cash Flow Information Related To Lease Abstract [Abstract] | |||
Operating Leases, Cash flows from operating activities | ¥ 47,321 | ¥ 41,680 | ¥ 44,610 |
Operating Leases, Cash flows from financing activities | 0 | 0 | 0 |
Operating Leases, Right-of-use assets obtained in exchange for lease liabilities | 37,816 | 55,344 | 39,775 |
Finance Leases, Cash flows from operating activities | 106 | 131 | 302 |
Finance Leases, Cash flows from financing activities | 878 | 674 | 494 |
Finance Leases, Right-of-use assets obtained in exchange for lease liabilities: | ¥ 278 | ¥ 228 | ¥ 531 |
Leases - Lessee_ Supplemental B
Leases - Lessee: Supplemental Balance Sheet Information (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2022 | Mar. 31, 2021 |
Operating And Finance Lease Supplemental Balance Sheet Information Line Items [Line Items] | ||
Right-of-use asset (operating leases) | ¥ 275,093 | ¥ 292,019 |
Operating lease, Other Liabilities | 275,199 | 289,890 |
Operating lease, Total lease liabilities | ¥ 275,199 | ¥ 289,890 |
Operating lease, Weighted average remaining lease term | 11 years | 12 years |
Operating lease, Weighted average discount rate | 1.10% | 1.10% |
Right-of-use asset (finance leases) | ¥ 7,093 | ¥ 2,734 |
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] | Other Assets | Other Assets |
Finance leases, Other Liability | ¥ 7,698 | ¥ 3,417 |
Finance leases, Total lease liabilities | ¥ 7,698 | ¥ 3,417 |
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration] | Other Liabilities | Other Liabilities |
Finance leases, Weighted average remaining lease term | 25 years | 7 years |
Finance leases, Weighted average discount rate | 2.50% | 4.40% |
Operating Lease, Liability, Statement of Financial Position [Extensible List] | Other Liabilities | Other Liabilities |
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] | Other Assets | Other Assets |
Investment in Operating Leases | ||
Operating And Finance Lease Supplemental Balance Sheet Information Line Items [Line Items] | ||
Right-of-use asset (operating leases) | ¥ 102,787 | ¥ 114,011 |
Right-of-use asset (finance leases) | 4,955 | 257 |
Property under Facility Operations | ||
Operating And Finance Lease Supplemental Balance Sheet Information Line Items [Line Items] | ||
Right-of-use asset (operating leases) | 68,149 | 69,291 |
Right-of-use asset (finance leases) | 1,763 | 1,990 |
Office Facilities | ||
Operating And Finance Lease Supplemental Balance Sheet Information Line Items [Line Items] | ||
Right-of-use asset (operating leases) | 104,157 | 108,717 |
Right-of-use asset (finance leases) | ¥ 375 | ¥ 487 |
Leases - Lessee_ Amounts of Lea
Leases - Lessee: Amounts of Lease Liabilities Due in Each of Next Five Years and Thereafter (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2022 | Mar. 31, 2021 |
Operating And Finance Lease Payments Due Abstract [Abstract] | ||
Finance leases, 2023 | ¥ 827 | |
Finance leases, 2024 | 783 | |
Finance leases, 2025 | 696 | |
Finance leases, 2026 | 383 | |
Finance leases, 2027 | 272 | |
Thereafter | 7,405 | |
Total lease payments | 10,366 | |
Less imputed interest | (2,668) | |
Total Lease Liability | 7,698 | |
Operating leases, 2023 | 47,743 | |
Operating leases, 2024 | 38,185 | |
Operating leases, 2025 | 32,436 | |
Operating leases, 2026 | 29,374 | |
Operating leases, 2027 | 23,544 | |
Thereafter | 119,722 | |
Total lease payments | 291,004 | |
Less imputed interest | (15,805) | |
Total lease liabilities | ¥ 275,199 | ¥ 289,890 |
Installment Loans (Composition
Installment Loans (Composition of Installment Loans By Domicile and Type of Borrower) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2022 | Mar. 31, 2021 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Installment loans | ¥ 3,862,604 | ¥ 3,670,784 | |
Purchased loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Installment loans | [1] | 13,747 | 12,351 |
Japan | Consumer borrowers | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Installment loans | 2,209,027 | 2,211,276 | |
Japan | Consumer borrowers | Real estate loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Installment loans | 2,007,570 | 1,995,031 | |
Japan | Consumer borrowers | Card loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Installment loans | 173,687 | 188,547 | |
Japan | Consumer borrowers | Other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Installment loans | 27,770 | 27,698 | |
Japan | Corporate borrowers | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Installment loans | 521,299 | 530,892 | |
Japan | Corporate borrowers | Real estate companies | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Installment loans | 278,607 | 279,046 | |
Japan | Corporate borrowers | Non-recourse loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Installment loans | 74,085 | 47,956 | |
Japan | Corporate borrowers | Commercial, industrial companies and other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Installment loans | 168,607 | 203,890 | |
Overseas | Consumer borrowers | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Installment loans | 135,996 | 102,082 | |
Overseas | Consumer borrowers | Real estate loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Installment loans | 105,860 | 75,890 | |
Overseas | Consumer borrowers | Other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Installment loans | 30,136 | 26,192 | |
Overseas | Corporate borrowers | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Installment loans | 982,535 | 814,183 | |
Overseas | Corporate borrowers | Real estate companies | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Installment loans | 273,789 | 197,074 | |
Overseas | Corporate borrowers | Non-recourse loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Installment loans | 80,918 | 113,129 | |
Overseas | Corporate borrowers | Commercial, industrial companies and other | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Installment loans | ¥ 627,828 | ¥ 503,980 | |
[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. |
Installment Loans (Contractual
Installment Loans (Contractual Maturities of Installment Loans Except Purchased Loans) (Detail) ¥ in Millions | Mar. 31, 2022 JPY (¥) |
Debt Disclosure [Abstract] | |
2023 | ¥ 577,336 |
2024 | 321,132 |
2025 | 346,923 |
2026 | 222,291 |
2027 | 209,707 |
Thereafter | 2,171,468 |
Total | ¥ 3,848,857 |
Installment Loans - Additional
Installment Loans - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Interest income on loans | ¥ 174,485 | ¥ 169,401 | ¥ 166,966 |
Loans held for sale in installment loans | 155,680 | 72,658 | |
Loans held for sale measured at fair value | 151,601 | 63,272 | |
Installment loans | 3,862,604 | 3,670,784 | |
Purchased loans | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Installment loans | 13,747 | 12,351 | |
Fair value at the acquisition date of purchased loans acquired during the period | ¥ 4,926 | ¥ 2,704 |
Installment Loans (Changes in A
Installment Loans (Changes in Allowance for Uncollectible Accounts Relating to Purchased Loans) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | ¥ 79,995 | ¥ 56,836 | ¥ 58,011 | |
Provision (Reversal) | 0 | 0 | 24,425 | |
Charge-offs | (24,897) | (37,432) | (24,920) | |
Recoveries | 474 | 805 | 788 | |
Other | 3,818 | 858 | (1,468) | |
Ending balance | 71,416 | 79,995 | 56,836 | |
Purchased loans | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 1,835 | 1,458 | 3,186 | |
Provision (Reversal) | (24) | |||
Charge-offs | (2,372) | (4,040) | (1,789) | |
Recoveries | 114 | 46 | 77 | |
Other | 15 | 119 | 8 | [1] |
Ending balance | ¥ 1,575 | ¥ 1,835 | ¥ 1,458 | |
[1]Other includes foreign currency translation adjustments. |
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 | 12 Months Ended | |||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | ¥ 79,995 | ¥ 56,836 | ¥ 58,011 | |
Provision (Reversal) | 0 | 0 | 24,425 | |
Charge-offs | (24,897) | (37,432) | (24,920) | |
Recoveries | 474 | 805 | 788 | |
Other | 3,818 | 858 | (1,468) | |
Ending balance | 71,416 | 79,995 | 56,836 | |
Allowance for credit losses, Individually Evaluated for Impairment | 13,447 | |||
Allowance for credit losses, Not Individually Evaluated for Impairment | 49,660 | 58,141 | 43,389 | |
Financing receivables, Ending balance | 4,744,682 | 4,609,702 | 4,694,256 | |
Financing receivables, Individually evaluated for impairment | 85,820 | |||
Financing receivables, Not individually evaluated for impairment | 4,608,436 | |||
Consumer borrowers | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 20,542 | 21,195 | ||
Provision (Reversal) | 12,254 | |||
Charge-offs | (13,723) | |||
Recoveries | 554 | |||
Other | 262 | |||
Ending balance | 20,542 | |||
Allowance for credit losses, Individually Evaluated for Impairment | 3,602 | |||
Allowance for credit losses, Not Individually Evaluated for Impairment | 16,940 | |||
Financing receivables, Ending balance | 2,343,030 | 2,311,624 | 2,171,139 | |
Financing receivables, Individually evaluated for impairment | 26,533 | |||
Financing receivables, Not individually evaluated for impairment | 2,144,606 | |||
Corporate borrowers | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Financing receivables, Ending balance | 1,343,679 | 1,268,560 | ||
Purchased loans | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 1,835 | 1,458 | 3,186 | |
Provision (Reversal) | (24) | |||
Charge-offs | (2,372) | (4,040) | (1,789) | |
Recoveries | 114 | 46 | 77 | |
Other | 15 | 119 | 8 | [1] |
Ending balance | 1,575 | 1,835 | 1,458 | |
Allowance for credit losses, Individually Evaluated for Impairment | 667 | |||
Allowance for credit losses, Not Individually Evaluated for Impairment | ¥ 608 | 681 | 791 | |
Financing receivables, Ending balance | 13,218 | |||
Financing receivables, Individually evaluated for impairment | 1,605 | |||
Financing receivables, Not individually evaluated for impairment | 11,613 | |||
Non-recourse Loans | Corporate borrowers | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 1,786 | 919 | ||
Provision (Reversal) | 903 | |||
Charge-offs | (1) | |||
Recoveries | 0 | |||
Other | (35) | |||
Ending balance | 1,786 | |||
Allowance for credit losses, Individually Evaluated for Impairment | 228 | |||
Allowance for credit losses, Not Individually Evaluated for Impairment | 1,558 | |||
Financing receivables, Ending balance | 132,081 | |||
Financing receivables, Individually evaluated for impairment | 2,466 | |||
Financing receivables, Not individually evaluated for impairment | 129,615 | |||
Other loans | Corporate borrowers | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 21,358 | 20,662 | ||
Provision (Reversal) | 7,988 | |||
Charge-offs | (6,548) | |||
Recoveries | 133 | |||
Other | (877) | |||
Ending balance | 21,358 | |||
Allowance for credit losses, Individually Evaluated for Impairment | 8,950 | |||
Allowance for credit losses, Not Individually Evaluated for Impairment | 12,408 | |||
Financing receivables, Ending balance | 1,296,854 | |||
Financing receivables, Individually evaluated for impairment | 55,216 | |||
Financing receivables, Not individually evaluated for impairment | 1,241,638 | |||
Direct financing leases | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | ¥ 11,692 | 12,049 | ||
Provision (Reversal) | 3,304 | |||
Charge-offs | (2,859) | |||
Recoveries | 24 | |||
Other | (826) | |||
Ending balance | 11,692 | |||
Allowance for credit losses, Individually Evaluated for Impairment | 0 | |||
Allowance for credit losses, Not Individually Evaluated for Impairment | 11,692 | |||
Financing receivables, Ending balance | 1,080,964 | |||
Financing receivables, Individually evaluated for impairment | 0 | |||
Financing receivables, Not individually evaluated for impairment | ¥ 1,080,964 | |||
[1]Other includes foreign currency translation adjustments. |
Credit Quality of Financing R_4
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 Millions | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Financing Receivable, Impaired [Line Items] | |||
Average recorded investments in impaired loans | ¥ 64,932 | ||
Interest income on impaired loans | 706 | ||
Interest on impaired loans collected in cash | ¥ 690 | ¥ 748 | 661 |
Consumer borrowers | |||
Financing Receivable, Impaired [Line Items] | |||
Average recorded investments in impaired loans | 24,721 | ||
Interest income on impaired loans | 446 | ||
Interest on impaired loans collected in cash | 403 | ||
Consumer borrowers | Consumer - Real Estate Loans | |||
Financing Receivable, Impaired [Line Items] | |||
Average recorded investments in impaired loans | 5,077 | ||
Interest income on impaired loans | 141 | ||
Interest on impaired loans collected in cash | 137 | ||
Consumer borrowers | Consumer-Card loans | |||
Financing Receivable, Impaired [Line Items] | |||
Average recorded investments in impaired loans | 3,926 | ||
Interest income on impaired loans | 57 | ||
Interest on impaired loans collected in cash | 50 | ||
Consumer borrowers | Consumer - Other | |||
Financing Receivable, Impaired [Line Items] | |||
Average recorded investments in impaired loans | 15,718 | ||
Interest income on impaired loans | 248 | ||
Interest on impaired loans collected in cash | 216 | ||
Corporate borrowers | |||
Financing Receivable, Impaired [Line Items] | |||
Average recorded investments in impaired loans | 37,103 | ||
Interest income on impaired loans | 121 | ||
Interest on impaired loans collected in cash | 119 | ||
Corporate borrowers | Non-recourse Loans | Japan | |||
Financing Receivable, Impaired [Line Items] | |||
Average recorded investments in impaired loans | 137 | ||
Interest income on impaired loans | 2 | ||
Interest on impaired loans collected in cash | 2 | ||
Corporate borrowers | Non-recourse Loans | The Americas | |||
Financing Receivable, Impaired [Line Items] | |||
Average recorded investments in impaired loans | 2,954 | ||
Interest income on impaired loans | 0 | ||
Interest on impaired loans collected in cash | 0 | ||
Corporate borrowers | Real estate companies in Japan | Japan | |||
Financing Receivable, Impaired [Line Items] | |||
Average recorded investments in impaired loans | 1,621 | ||
Interest income on impaired loans | 30 | ||
Interest on impaired loans collected in cash | 30 | ||
Corporate borrowers | Real estate companies in overseas | Overseas | |||
Financing Receivable, Impaired [Line Items] | |||
Average recorded investments in impaired loans | 5,785 | ||
Interest income on impaired loans | 0 | ||
Interest on impaired loans collected in cash | 0 | ||
Corporate borrowers | Commercial, industrial and other companies in Japan | Japan | |||
Financing Receivable, Impaired [Line Items] | |||
Average recorded investments in impaired loans | 6,754 | ||
Interest income on impaired loans | 76 | ||
Interest on impaired loans collected in cash | 75 | ||
Corporate borrowers | Commercial, industrial and other companies in overseas | Overseas | |||
Financing Receivable, Impaired [Line Items] | |||
Average recorded investments in impaired loans | 19,852 | ||
Interest income on impaired loans | 13 | ||
Interest on impaired loans collected in cash | 12 | ||
Purchased loans | |||
Financing Receivable, Impaired [Line Items] | |||
Average recorded investments in impaired loans | 3,108 | ||
Interest income on impaired loans | 139 | ||
Interest on impaired loans collected in cash | ¥ 139 |
Credit Quality of Financing R_5
Credit Quality of Financing Receivables and the Allowance for Credit Losses (Information about Troubled Debt Restructurings of Financing Receivables) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Financing Receivable, Modifications [Line Items] | |||
Pre-modification outstanding recorded investment | ¥ 14,242 | ¥ 24,002 | ¥ 16,826 |
Post-modification outstanding recorded investment | 11,471 | 19,776 | 13,804 |
Financing Receivables Modification, Subsequently Defaulted Recorded Investment | 900 | 1,139 | 1,712 |
Consumer borrowers | |||
Financing Receivable, Modifications [Line Items] | |||
Pre-modification outstanding recorded investment | 8,761 | 9,279 | 12,041 |
Post-modification outstanding recorded investment | 6,152 | 6,727 | 9,025 |
Financing Receivables Modification, Subsequently Defaulted Recorded Investment | 900 | 387 | 1,687 |
Consumer borrowers | Consumer - Real Estate Loans | |||
Financing Receivable, Modifications [Line Items] | |||
Pre-modification outstanding recorded investment | 15 | 34 | 19 |
Post-modification outstanding recorded investment | 6 | 23 | 17 |
Financing Receivables Modification, Subsequently Defaulted Recorded Investment | 4 | ||
Consumer borrowers | Consumer-Card loans | |||
Financing Receivable, Modifications [Line Items] | |||
Pre-modification outstanding recorded investment | 1,385 | 1,677 | 1,899 |
Post-modification outstanding recorded investment | 1,072 | 1,261 | 1,396 |
Financing Receivables Modification, Subsequently Defaulted Recorded Investment | 6 | 36 | 22 |
Consumer borrowers | Consumer - Other | |||
Financing Receivable, Modifications [Line Items] | |||
Pre-modification outstanding recorded investment | 7,361 | 7,568 | 10,123 |
Post-modification outstanding recorded investment | 5,074 | 5,443 | 7,612 |
Financing Receivables Modification, Subsequently Defaulted Recorded Investment | 890 | 351 | 1,665 |
Corporate borrowers | |||
Financing Receivable, Modifications [Line Items] | |||
Pre-modification outstanding recorded investment | 5,481 | 14,723 | 4,785 |
Post-modification outstanding recorded investment | 5,319 | 13,049 | 4,779 |
Financing Receivables Modification, Subsequently Defaulted Recorded Investment | 752 | 25 | |
Corporate borrowers | Non-recourse Loans | The Americas | |||
Financing Receivable, Modifications [Line Items] | |||
Pre-modification outstanding recorded investment | 751 | ||
Post-modification outstanding recorded investment | 751 | ||
Corporate borrowers | Commercial, industrial and other companies in overseas | Overseas | |||
Financing Receivable, Modifications [Line Items] | |||
Pre-modification outstanding recorded investment | 5,481 | 14,574 | 4,034 |
Post-modification outstanding recorded investment | ¥ 5,319 | 12,900 | 4,028 |
Financing Receivables Modification, Subsequently Defaulted Recorded Investment | ¥ 752 | ¥ 25 |
Credit Quality of Financial A_3
Credit Quality of Financial Assets and the Allowance for Credit Losses - Summary of Allowance for Credit Losses for Installment Loans (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | ¥ 79,995 | ¥ 56,836 | ¥ 58,011 | |
Reclassification to allowance for investment in operating leases | (312) | |||
Provision (Reversal) | 9,816 | 23,596 | ||
Allowance of purchased loans during the reporting period | 2,210 | 3,899 | ||
Charge-offs | (24,897) | (37,432) | (24,920) | |
Recoveries | 474 | 805 | 788 | |
Other | 3,818 | 858 | (1,468) | |
Ending balance | 71,416 | 79,995 | 56,836 | |
Collective (pool) assessment | 49,660 | 58,141 | 43,389 | |
Individual assessment | 21,756 | 21,854 | ||
Restatement Adjustment | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 88,269 | |||
Ending balance | 88,269 | |||
Subtotal of Installment Loans and Net Investment in Leases [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 73,990 | 55,687 | ||
Reclassification to allowance for investment in operating leases | 0 | |||
Provision (Reversal) | 7,154 | 19,113 | ||
Allowance of purchased loans during the reporting period | 2,210 | 3,899 | ||
Charge-offs | (23,236) | (37,088) | ||
Recoveries | 429 | 794 | ||
Other | 3,587 | 1,209 | ||
Ending balance | 64,134 | 73,990 | 55,687 | |
Collective (pool) assessment | 49,098 | 57,331 | ||
Individual assessment | 15,036 | 16,659 | ||
Subtotal of Installment Loans and Net Investment in Leases [Member] | Restatement Adjustment | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 86,063 | |||
Ending balance | 86,063 | |||
Consumer | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 20,542 | 21,195 | ||
Charge-offs | (13,723) | |||
Recoveries | 554 | |||
Other | 262 | |||
Ending balance | 20,542 | |||
Collective (pool) assessment | 16,940 | |||
Consumer | Real estate loans [Member] | Japan | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 5,922 | 3,112 | ||
Reclassification to allowance for investment in operating leases | 0 | |||
Provision (Reversal) | 340 | 390 | ||
Allowance of purchased loans during the reporting period | 0 | 0 | ||
Charge-offs | (570) | (495) | ||
Recoveries | 24 | 59 | ||
Other | 0 | 0 | ||
Ending balance | 5,716 | 5,922 | 3,112 | |
Collective (pool) assessment | 5,211 | 5,354 | ||
Individual assessment | 505 | 568 | ||
Consumer | Real estate loans [Member] | Overseas | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 470 | 128 | ||
Reclassification to allowance for investment in operating leases | 0 | |||
Provision (Reversal) | (34) | 412 | ||
Allowance of purchased loans during the reporting period | 0 | 0 | ||
Charge-offs | 0 | 0 | ||
Recoveries | 4 | 1 | ||
Other | 15 | 31 | ||
Ending balance | 455 | 470 | 128 | |
Collective (pool) assessment | 455 | 470 | ||
Individual assessment | 0 | 0 | ||
Consumer | Real estate loans [Member] | Restatement Adjustment | Japan | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 5,968 | |||
Ending balance | 5,968 | |||
Consumer | Real estate loans [Member] | Restatement Adjustment | Overseas | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 26 | |||
Ending balance | 26 | |||
Consumer | Card loans [Member] | Japan | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 12,984 | 3,785 | ||
Reclassification to allowance for investment in operating leases | 0 | |||
Provision (Reversal) | (1,301) | (802) | ||
Allowance of purchased loans during the reporting period | 0 | 0 | ||
Charge-offs | (1,669) | (2,150) | ||
Recoveries | 4 | 6 | ||
Other | 1 | (1) | ||
Ending balance | 10,019 | 12,984 | 3,785 | |
Collective (pool) assessment | 9,423 | 12,283 | ||
Individual assessment | 596 | 701 | ||
Consumer | Card loans [Member] | Restatement Adjustment | Japan | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 15,931 | |||
Ending balance | 15,931 | |||
Consumer | Other [Member] | Japan | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 8,359 | 12,735 | ||
Reclassification to allowance for investment in operating leases | 0 | |||
Provision (Reversal) | 4,948 | 5,875 | ||
Allowance of purchased loans during the reporting period | 0 | 0 | ||
Charge-offs | (8,114) | (9,296) | ||
Recoveries | 11 | 8 | ||
Other | 0 | 0 | ||
Ending balance | 5,204 | 8,359 | 12,735 | |
Collective (pool) assessment | 2,946 | 5,616 | ||
Individual assessment | 2,258 | 2,743 | ||
Consumer | Other [Member] | Restatement Adjustment | Japan | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 11,772 | |||
Ending balance | 11,772 | |||
Consumer | Other [Member] | Overseas | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 1,275 | 782 | ||
Reclassification to allowance for investment in operating leases | 0 | |||
Provision (Reversal) | 300 | 739 | ||
Allowance of purchased loans during the reporting period | 0 | 0 | ||
Charge-offs | (644) | (1,754) | ||
Recoveries | 0 | 577 | ||
Other | 174 | 368 | ||
Ending balance | 1,105 | 1,275 | 782 | |
Collective (pool) assessment | 961 | 1,038 | ||
Individual assessment | 144 | 237 | ||
Consumer | Other [Member] | Restatement Adjustment | Overseas | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 1,345 | |||
Ending balance | 1,345 | |||
Corporate | Non-recourse Loans | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 1,786 | 919 | ||
Charge-offs | (1) | |||
Recoveries | 0 | |||
Other | (35) | |||
Ending balance | 1,786 | |||
Collective (pool) assessment | 1,558 | |||
Corporate | Non-recourse Loans | Japan | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 32 | 13 | ||
Reclassification to allowance for investment in operating leases | 0 | |||
Provision (Reversal) | 49 | (5) | ||
Allowance of purchased loans during the reporting period | 0 | 0 | ||
Charge-offs | 0 | 0 | ||
Recoveries | 0 | 0 | ||
Other | 0 | 0 | ||
Ending balance | 81 | 32 | 13 | |
Collective (pool) assessment | 81 | 32 | ||
Individual assessment | 0 | 0 | ||
Corporate | Non-recourse Loans | The Americas | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 3,450 | 1,773 | ||
Reclassification to allowance for investment in operating leases | 0 | |||
Provision (Reversal) | (1,035) | 43 | ||
Allowance of purchased loans during the reporting period | 0 | 0 | ||
Charge-offs | 0 | 0 | ||
Recoveries | 0 | 0 | ||
Other | 276 | 57 | ||
Ending balance | 2,691 | 3,450 | 1,773 | |
Collective (pool) assessment | 1,836 | 3,218 | ||
Individual assessment | 855 | 232 | ||
Corporate | Non-recourse Loans | Restatement Adjustment | Japan | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 37 | |||
Ending balance | 37 | |||
Corporate | Non-recourse Loans | Restatement Adjustment | The Americas | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 3,350 | |||
Ending balance | 3,350 | |||
Corporate | Corporate Real Estate Companies Loans | Japan | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 901 | 983 | ||
Reclassification to allowance for investment in operating leases | 0 | |||
Provision (Reversal) | (204) | (58) | ||
Allowance of purchased loans during the reporting period | 0 | 0 | ||
Charge-offs | (109) | (96) | ||
Recoveries | 29 | 25 | ||
Other | 0 | 1 | ||
Ending balance | 617 | 901 | 983 | |
Collective (pool) assessment | 490 | 621 | ||
Individual assessment | 127 | 280 | ||
Corporate | Corporate Real Estate Companies Loans | Overseas | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 1,539 | 2,010 | ||
Reclassification to allowance for investment in operating leases | 0 | |||
Provision (Reversal) | (855) | (1,502) | ||
Allowance of purchased loans during the reporting period | 0 | 0 | ||
Charge-offs | (10) | (570) | ||
Recoveries | 0 | 33 | ||
Other | 61 | (11) | ||
Ending balance | 735 | 1,539 | 2,010 | |
Collective (pool) assessment | 735 | 1,539 | ||
Individual assessment | 0 | 0 | ||
Corporate | Corporate Real Estate Companies Loans | Restatement Adjustment | Japan | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 1,029 | |||
Ending balance | 1,029 | |||
Corporate | Corporate Real Estate Companies Loans | Restatement Adjustment | Overseas | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 3,589 | |||
Ending balance | 3,589 | |||
Corporate | Corporate Commercial, industrial and other companies | Japan | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 1,938 | 2,447 | ||
Reclassification to allowance for investment in operating leases | 0 | |||
Provision (Reversal) | 93 | (27) | ||
Allowance of purchased loans during the reporting period | 0 | 0 | ||
Charge-offs | (761) | (592) | ||
Recoveries | 67 | 11 | ||
Other | 0 | 1 | ||
Ending balance | 1,337 | 1,938 | 2,447 | |
Collective (pool) assessment | 505 | 199 | ||
Individual assessment | 832 | 1,739 | ||
Corporate | Corporate Commercial, industrial and other companies | Overseas | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 18,763 | 14,769 | ||
Reclassification to allowance for investment in operating leases | 0 | |||
Provision (Reversal) | 3,503 | 10,410 | ||
Allowance of purchased loans during the reporting period | 0 | 0 | ||
Charge-offs | (6,185) | (15,427) | ||
Recoveries | 155 | 18 | ||
Other | 2,060 | (9) | ||
Ending balance | 18,296 | 18,763 | 14,769 | |
Collective (pool) assessment | 13,367 | 13,013 | ||
Individual assessment | 4,929 | 5,750 | ||
Corporate | Corporate Commercial, industrial and other companies | Restatement Adjustment | Japan | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 2,545 | |||
Ending balance | 2,545 | |||
Corporate | Corporate Commercial, industrial and other companies | Restatement Adjustment | Overseas | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 23,771 | |||
Ending balance | 23,771 | |||
Purchased loans | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 1,835 | 1,458 | 3,186 | |
Reclassification to allowance for investment in operating leases | 0 | |||
Provision (Reversal) | (227) | 353 | ||
Allowance of purchased loans during the reporting period | 2,210 | 3,899 | ||
Charge-offs | (2,372) | (4,040) | (1,789) | |
Recoveries | 114 | 46 | 77 | |
Other | 15 | 119 | 8 | [1] |
Ending balance | 1,575 | 1,835 | 1,458 | |
Collective (pool) assessment | 608 | 681 | 791 | |
Individual assessment | 967 | 1,154 | ||
Purchased loans | Restatement Adjustment | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 1,458 | |||
Ending balance | 1,458 | |||
Net investment in leases | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 16,522 | 11,692 | ||
Reclassification to allowance for investment in operating leases | 0 | |||
Provision (Reversal) | 1,577 | 3,285 | ||
Allowance of purchased loans during the reporting period | 0 | 0 | ||
Charge-offs | (2,802) | (2,668) | ||
Recoveries | 21 | 10 | ||
Other | 985 | 653 | ||
Ending balance | 16,303 | 16,522 | 11,692 | |
Collective (pool) assessment | 12,480 | 13,267 | ||
Individual assessment | 3,823 | 3,255 | ||
Net investment in leases | Restatement Adjustment | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 15,242 | |||
Ending balance | 15,242 | |||
Other financial assets measured at amortized cost | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 6,005 | 1,149 | ||
Reclassification to allowance for investment in operating leases | (312) | |||
Provision (Reversal) | 2,662 | 4,483 | ||
Allowance of purchased loans during the reporting period | 0 | 0 | ||
Charge-offs | (1,661) | (344) | ||
Recoveries | 45 | 11 | ||
Other | 231 | (351) | ||
Ending balance | 7,282 | 6,005 | 1,149 | |
Collective (pool) assessment | 562 | 810 | ||
Individual assessment | ¥ 6,720 | 5,195 | ||
Other financial assets measured at amortized cost | Restatement Adjustment | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 2,206 | |||
Ending balance | 2,206 | |||
Accounting Standards Update 2016-13 [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 31,745 | |||
Ending balance | 31,745 | |||
Accounting Standards Update 2016-13 [Member] | Subtotal of Installment Loans and Net Investment in Leases [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 30,376 | |||
Ending balance | 30,376 | |||
Accounting Standards Update 2016-13 [Member] | Consumer | Real estate loans [Member] | Japan | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 2,856 | |||
Ending balance | 2,856 | |||
Accounting Standards Update 2016-13 [Member] | Consumer | Real estate loans [Member] | Overseas | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | (102) | |||
Ending balance | (102) | |||
Accounting Standards Update 2016-13 [Member] | Consumer | Card loans [Member] | Japan | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 12,146 | |||
Ending balance | 12,146 | |||
Accounting Standards Update 2016-13 [Member] | Consumer | Other [Member] | Japan | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | (963) | |||
Ending balance | (963) | |||
Accounting Standards Update 2016-13 [Member] | Consumer | Other [Member] | Overseas | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 563 | |||
Ending balance | 563 | |||
Accounting Standards Update 2016-13 [Member] | Corporate | Non-recourse Loans | Japan | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 24 | |||
Ending balance | 24 | |||
Accounting Standards Update 2016-13 [Member] | Corporate | Non-recourse Loans | The Americas | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 1,577 | |||
Ending balance | 1,577 | |||
Accounting Standards Update 2016-13 [Member] | Corporate | Corporate Real Estate Companies Loans | Japan | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 46 | |||
Ending balance | 46 | |||
Accounting Standards Update 2016-13 [Member] | Corporate | Corporate Real Estate Companies Loans | Overseas | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 1,579 | |||
Ending balance | 1,579 | |||
Accounting Standards Update 2016-13 [Member] | Corporate | Corporate Commercial, industrial and other companies | Japan | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 98 | |||
Ending balance | 98 | |||
Accounting Standards Update 2016-13 [Member] | Corporate | Corporate Commercial, industrial and other companies | Overseas | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 9,002 | |||
Ending balance | 9,002 | |||
Accounting Standards Update 2016-13 [Member] | Purchased loans | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 0 | |||
Ending balance | 0 | |||
Accounting Standards Update 2016-13 [Member] | Net investment in leases | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | 3,550 | |||
Ending balance | 3,550 | |||
Accounting Standards Update 2016-13 [Member] | Other financial assets measured at amortized cost | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning balance | ¥ 1,369 | |||
Ending balance | ¥ 1,369 | |||
[1]Other includes foreign currency translation adjustments. |
Credit Quality of Financial A_4
Credit Quality of Financial Assets and the Allowance for Credit Losses - Summary of Allowance for Credit Losses for Installment Loans (Detail) (Parenthetical) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowances for credit loss gross up value | ¥ 2,210 | ¥ 3,899 | |
Total charge-offs | 24,897 | 37,432 | ¥ 24,920 |
Allowance for Credit Losses | 69,459 | 78,945 | |
Provision for Credit Losses | 3,939 | 16,021 | 0 |
Purchased loans | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Total charge-offs | 2,372 | 4,040 | ¥ 1,789 |
Purchased loans | Financial asset acquired with credit deterioration | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Total charge-offs | ¥ 2,210 | 3,899 | |
Accounting Standards Update 2016-13 | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowances for credit loss gross up value | 176,714 | ||
Allowances for credit loans with purchased credit deterioration amortised | ¥ 176,714 |
Credit Quality of Financial A_5
Credit Quality of Financial Assets and the Credit Losses - Summary of Disclosure In Tabular Form Of Allowances For Credit Losses And Provision For Credit Losses (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | ||
Disclosure in Tabular Form of Allowances for Credit Losses and Provision for Credit Losses [Abstract] | ||||
Net investment in leases, provision for credit loss | ¥ 1,577 | ¥ 3,285 | ||
Provision for credit losses on installment loans | 5,577 | 15,828 | ||
Subtotal in the above table, provision for credit loss | 7,154 | 19,113 | ||
Other financial assets measured at amortized cost, provision for credit loss | 2,662 | 4,483 | ||
Total in the above table, provision for credit loss | 9,816 | 23,596 | ||
Off-balance sheet credit exposures, provision for credit loss | [1] | (4,449) | (7,437) | |
Available-for-sale debt securities, provision for credit loss | [2] | 21 | 117 | |
Less: Loans to affiliates, provision for credit loss | [3] | (1,449) | (255) | |
Amount reported on the consolidated financial statements, provision for credit loss | 3,939 | 16,021 | ¥ 0 | |
Net investment in lease, allowance for credit loss | 16,303 | 16,522 | ||
Allowance for credit loss, Installment loans | 47,831 | 57,468 | ||
Subtotal in the above table, allowance for credit loss | 64,134 | 73,990 | ||
Other financial assets measured at amortized cost, allowance for credit loss | 7,282 | 6,005 | ||
Total in the above table, allowance for credit loss | 71,416 | 79,995 | ||
Less: Loans to affiliates, allowance for credit loss | [3] | (1,957) | (1,050) | |
Amount reported on the consolidated financial statements, allowances for credit loss | ¥ 69,459 | ¥ 78,945 | ||
[1]The allowance for off-balance sheet credit exposure were ¥26,094 million and ¥22,120 million as of March 31, 2021 and 2022, respectively, and the amounts are recorded in “Other liabilities” on the consolidated balance sheets. For further information, see Note 31 “Commitments, Guarantees and Contingent Liabilities.”[2]The allowance for available-for-sale debt securities were ¥120 million and ¥153 million as of March 31, 2021 and 2022, respectively, and the amounts are recorded as a reduction in “Investments in securities” on the consolidated balance sheets. For further information, see Note 10 “Investment in Securities.”[3]The provision for credit losses on loans to affiliates were ¥255 million and ¥1,449 million during fiscal 2021 and 2022, respectively, and the amounts are recorded in “Equity in net income (loss) of affiliates” in the consolidated statements of income. The allowance for credit losses on loans to affiliates were ¥1,050 million and ¥1,957 million as of March 31, 2021 and 2022, respectively, and the amounts are recorded as a reduction in “Investments in affiliates” on the consolidated balance sheets. |
Credit Quality of Financial A_6
Credit Quality of Financial Assets and the Credit Losses - Summary of Disclosure In Tabular Form Of Allowances For Credit Losses And Provision For Credit Losses (Detail) (Parenthetical) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | ||
Allowance for credit loss on available for sale debt securities | ¥ 153 | ¥ 120 | |
Provision for credit losses on loans to affiliates | [1] | 1,449 | 255 |
Allowance for credit loss on loans to affiliates | [1] | 1,957 | 1,050 |
Other Liabilities [Member] | |||
Allowance for credit losses on off balance sheet exposures | ¥ 22,120 | ¥ 26,094 | |
[1]The provision for credit losses on loans to affiliates were ¥255 million and ¥1,449 million during fiscal 2021 and 2022, respectively, and the amounts are recorded in “Equity in net income (loss) of affiliates” in the consolidated statements of income. The allowance for credit losses on loans to affiliates were ¥1,050 million and ¥1,957 million as of March 31, 2021 and 2022, respectively, and the amounts are recorded as a reduction in “Investments in affiliates” on the consolidated balance sheets. |
Credit Quality of Financial A_7
Credit Quality of Financial Assets and the Allowance for Credit Losses - Summary of Purchased Loans (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Credit Loss [Abstract] | ||
Purchase price | ¥ 4,926 | ¥ 2,705 |
Allowance for credit losses at acquisition date | 2,210 | 3,899 |
Discount or premium attributable to other factors | 220 | 254 |
Par value | ¥ 7,356 | ¥ 6,858 |
Credit Quality of Financial A_8
Credit Quality of Financial Assets and the Allowance for Credit Losses - Summary of Origination Years of Financial Assets (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Financing Receivable, Recorded Investment [Line Items] | ||||
Total financing receivables | ¥ 4,744,682 | ¥ 4,609,702 | ¥ 4,694,256 | |
Performing | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Current fiscal year | 1,153,072 | 1,061,859 | ||
One year ago | 754,895 | 1,091,822 | ||
Two years ago | 862,432 | 710,782 | ||
Three years ago | 554,762 | 451,738 | ||
Four years ago | 378,732 | 360,812 | ||
Prior | 815,806 | 687,651 | ||
Total financing receivables | 4,519,699 | 4,364,664 | ||
Non-Performing | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Current fiscal year | 11,302 | 19,379 | ||
One year ago | 10,678 | 23,126 | ||
Two years ago | 11,522 | 15,167 | ||
Three years ago | 9,632 | 14,516 | ||
Four years ago | 19,287 | 9,702 | ||
Prior | 39,678 | 21,056 | ||
Total financing receivables | 102,099 | 102,946 | ||
Consumer borrowers | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total financing receivables | 2,343,030 | 2,311,624 | 2,171,139 | |
Consumer borrowers | Consumer - Real Estate Loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total financing receivables | 2,113,430 | 2,070,921 | ||
Consumer borrowers | Other loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total financing receivables | 55,913 | 52,156 | ||
Consumer borrowers | Performing | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Current fiscal year | 322,924 | 371,914 | ||
One year ago | 314,935 | 443,079 | ||
Two years ago | 387,988 | 332,461 | ||
Three years ago | 314,163 | 220,035 | ||
Four years ago | 202,309 | 223,814 | ||
Prior | 595,321 | 498,350 | ||
Total financing receivables | 2,137,640 | 2,089,653 | ||
Consumer borrowers | Performing | Consumer - Real Estate Loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Current fiscal year | 302,695 | 362,832 | ||
One year ago | 309,893 | 431,483 | ||
Two years ago | 382,612 | 327,967 | ||
Three years ago | 311,959 | 217,380 | ||
Four years ago | 198,974 | 223,540 | ||
Prior | 594,612 | 498,080 | ||
Total financing receivables | 2,100,745 | 2,061,282 | ||
Consumer borrowers | Performing | Other loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Current fiscal year | [1] | 20,229 | 9,082 | |
One year ago | [1] | 5,042 | 11,596 | |
Two years ago | [1] | 5,376 | 4,494 | |
Three years ago | [1] | 2,204 | 2,655 | |
Four years ago | [1] | 3,335 | 274 | |
Prior | [1] | 709 | 270 | |
Total financing receivables | [1] | 36,895 | 28,371 | |
Consumer borrowers | Non-Performing | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Current fiscal year | 8,282 | 11,041 | ||
One year ago | 4,595 | 7,854 | ||
Two years ago | 3,852 | 5,132 | ||
Three years ago | 2,098 | 3,176 | ||
Four years ago | 961 | 2,612 | ||
Prior | 11,915 | 3,609 | ||
Total financing receivables | 31,703 | 33,424 | ||
Consumer borrowers | Non-Performing | Consumer - Real Estate Loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Current fiscal year | 26 | 96 | ||
One year ago | 94 | 735 | ||
Two years ago | 489 | 1,598 | ||
Three years ago | 380 | 1,683 | ||
Four years ago | 222 | 2,068 | ||
Prior | 11,474 | 3,459 | ||
Total financing receivables | 12,685 | 9,639 | ||
Consumer borrowers | Non-Performing | Other loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Current fiscal year | [1] | 8,256 | 10,945 | |
One year ago | [1] | 4,501 | 7,119 | |
Two years ago | [1] | 3,363 | 3,534 | |
Three years ago | [1] | 1,718 | 1,493 | |
Four years ago | [1] | 739 | 544 | |
Prior | [1] | 441 | 150 | |
Total financing receivables | [1] | 19,018 | 23,785 | |
Corporate borrowers | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total financing receivables | 1,343,679 | 1,268,560 | ||
Corporate borrowers | Non-recourse Loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total financing receivables | 132,081 | |||
Corporate borrowers | Non-recourse Loans | Japan | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total financing receivables | 74,085 | 47,956 | ||
Corporate borrowers | Non-recourse Loans | The Americas | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total financing receivables | 80,918 | 113,129 | ||
Corporate borrowers | Real estate companies in Japan | Japan | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total financing receivables | 278,607 | 279,046 | ||
Corporate borrowers | Real estate companies in overseas | Overseas | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total financing receivables | 121,851 | 133,802 | ||
Corporate borrowers | Commercial Industrial And Other Companies In Japan [Member] | Japan | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total financing receivables | 164,132 | 200,033 | ||
Corporate borrowers | Commercial Industrial And Other Companies In Overseas [Member] | Overseas | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total financing receivables | 624,086 | 494,594 | ||
Corporate borrowers | Performing | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Current fiscal year | 487,433 | 341,346 | ||
One year ago | 188,634 | 378,732 | ||
Two years ago | 283,950 | 207,214 | ||
Three years ago | 127,128 | 124,889 | ||
Four years ago | 96,851 | 71,400 | ||
Prior | 111,640 | 97,113 | ||
Total financing receivables | 1,295,636 | 1,220,694 | ||
Corporate borrowers | Performing | Non-recourse Loans | Japan | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Current fiscal year | 26,991 | 6,637 | ||
One year ago | 6,686 | 24,428 | ||
Two years ago | 24,244 | 5,283 | ||
Three years ago | 5,256 | 2,802 | ||
Four years ago | 2,750 | 0 | ||
Prior | 8,158 | 8,806 | ||
Total financing receivables | 74,085 | 47,956 | ||
Corporate borrowers | Performing | Non-recourse Loans | The Americas | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Current fiscal year | 0 | 1,349 | ||
One year ago | 5,547 | 52,413 | ||
Two years ago | 51,467 | 28,291 | ||
Three years ago | 11,744 | 15,817 | ||
Four years ago | 7,721 | 5,178 | ||
Prior | 1,397 | 8,764 | ||
Total financing receivables | 77,876 | 111,812 | ||
Corporate borrowers | Performing | Real estate companies in Japan | Japan | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Current fiscal year | 102,719 | 103,982 | ||
One year ago | 48,420 | 62,274 | ||
Two years ago | 37,845 | 35,065 | ||
Three years ago | 28,727 | 28,743 | ||
Four years ago | 24,481 | 25,487 | ||
Prior | 34,111 | 21,753 | ||
Total financing receivables | 276,303 | 277,304 | ||
Corporate borrowers | Performing | Real estate companies in overseas | Overseas | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Current fiscal year | 24,104 | 42,980 | ||
One year ago | 26,751 | 55,678 | ||
Two years ago | 41,644 | 10,695 | ||
Three years ago | 2,256 | 4,992 | ||
Four years ago | 5,478 | 1,976 | ||
Prior | 740 | 2,976 | ||
Total financing receivables | 100,973 | 119,297 | ||
Corporate borrowers | Performing | Commercial Industrial And Other Companies In Japan [Member] | Japan | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Current fiscal year | 75,273 | 78,281 | ||
One year ago | 24,808 | 41,166 | ||
Two years ago | 26,748 | 30,116 | ||
Three years ago | 13,746 | 12,746 | ||
Four years ago | 6,457 | 11,798 | ||
Prior | 13,806 | 18,664 | ||
Total financing receivables | 160,838 | 192,771 | ||
Corporate borrowers | Performing | Commercial Industrial And Other Companies In Overseas [Member] | Overseas | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Current fiscal year | 258,346 | 108,117 | ||
One year ago | 76,422 | 142,773 | ||
Two years ago | 102,002 | 97,764 | ||
Three years ago | 65,399 | 59,789 | ||
Four years ago | 49,964 | 26,961 | ||
Prior | 53,428 | 36,150 | ||
Total financing receivables | 605,561 | 471,554 | ||
Corporate borrowers | Non-Performing | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Current fiscal year | 412 | 6,972 | ||
One year ago | 3,184 | 12,215 | ||
Two years ago | 4,138 | 6,594 | ||
Three years ago | 4,747 | 7,266 | ||
Four years ago | 14,562 | 4,110 | ||
Prior | 21,000 | 10,709 | ||
Total financing receivables | 48,043 | 47,866 | ||
Corporate borrowers | Non-Performing | Non-recourse Loans | The Americas | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Current fiscal year | 0 | 58 | ||
One year ago | 64 | 0 | ||
Two years ago | 0 | 0 | ||
Three years ago | 1,587 | 0 | ||
Four years ago | 0 | 0 | ||
Prior | 1,391 | 1,259 | ||
Total financing receivables | 3,042 | 1,317 | ||
Corporate borrowers | Non-Performing | Real estate companies in Japan | Japan | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Current fiscal year | 0 | 70 | ||
One year ago | 245 | 252 | ||
Two years ago | 938 | 192 | ||
Three years ago | 71 | 0 | ||
Four years ago | 0 | 690 | ||
Prior | 1,050 | 538 | ||
Total financing receivables | 2,304 | 1,742 | ||
Corporate borrowers | Non-Performing | Real estate companies in overseas | Overseas | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Current fiscal year | 0 | 0 | ||
One year ago | 0 | 3,049 | ||
Two years ago | 0 | 2,057 | ||
Three years ago | 371 | 4,946 | ||
Four years ago | 12,790 | 1,056 | ||
Prior | 7,717 | 3,397 | ||
Total financing receivables | 20,878 | 14,505 | ||
Corporate borrowers | Non-Performing | Commercial Industrial And Other Companies In Japan [Member] | Japan | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Current fiscal year | 156 | 1,210 | ||
One year ago | 457 | 3,865 | ||
Two years ago | 1,392 | 205 | ||
Three years ago | 124 | 878 | ||
Four years ago | 392 | 82 | ||
Prior | 773 | 1,022 | ||
Total financing receivables | 3,294 | 7,262 | ||
Corporate borrowers | Non-Performing | Commercial Industrial And Other Companies In Overseas [Member] | Overseas | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Current fiscal year | 256 | 5,634 | ||
One year ago | 2,418 | 5,049 | ||
Two years ago | 1,808 | 4,140 | ||
Three years ago | 2,594 | 1,442 | ||
Four years ago | 1,380 | 2,282 | ||
Prior | 10,069 | 4,493 | ||
Total financing receivables | 18,525 | 23,040 | ||
Purchased loans | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total financing receivables | ¥ 13,218 | |||
Purchased loans | Performing | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Current fiscal year | 0 | 527 | ||
One year ago | 0 | 0 | ||
Two years ago | 24 | 0 | ||
Three years ago | 281 | 168 | ||
Four years ago | 1,072 | 119 | ||
Prior | 10,885 | 9,714 | ||
Total financing receivables | 12,262 | 10,528 | ||
Purchased loans | Non-Performing | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Current fiscal year | 0 | 0 | ||
One year ago | 0 | 0 | ||
Two years ago | 0 | 0 | ||
Three years ago | 0 | 15 | ||
Four years ago | 0 | 0 | ||
Prior | 1,485 | 1,808 | ||
Total financing receivables | 1,485 | 1,823 | ||
Net investment in leases | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total financing receivables | 1,057,973 | 1,029,518 | ||
Net investment in leases | Japan | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total financing receivables | 652,455 | 687,462 | ||
Net investment in leases | Overseas | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Total financing receivables | 405,518 | 342,056 | ||
Net investment in leases | Performing | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Current fiscal year | 328,428 | 333,190 | ||
One year ago | 249,106 | 268,966 | ||
Two years ago | 190,125 | 171,040 | ||
Three years ago | 113,190 | 105,708 | ||
Four years ago | 77,683 | 62,977 | ||
Prior | 80,217 | 68,712 | ||
Total financing receivables | 1,038,749 | 1,010,593 | ||
Net investment in leases | Performing | Japan | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Current fiscal year | 119,538 | 184,342 | ||
One year ago | 154,757 | 165,580 | ||
Two years ago | 133,589 | 121,072 | ||
Three years ago | 91,691 | 84,928 | ||
Four years ago | 68,087 | 57,393 | ||
Prior | 78,283 | 67,040 | ||
Total financing receivables | 645,945 | 680,355 | ||
Net investment in leases | Performing | Overseas | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Current fiscal year | 208,890 | 148,848 | ||
One year ago | 94,349 | 103,386 | ||
Two years ago | 56,536 | 49,968 | ||
Three years ago | 21,499 | 20,780 | ||
Four years ago | 9,596 | 5,584 | ||
Prior | 1,934 | 1,672 | ||
Total financing receivables | 392,804 | 330,238 | ||
Net investment in leases | Non-Performing | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Current fiscal year | 2,608 | 1,366 | ||
One year ago | 2,899 | 3,057 | ||
Two years ago | 3,474 | 3,441 | ||
Three years ago | 2,787 | 3,151 | ||
Four years ago | 2,178 | 2,980 | ||
Prior | 5,278 | 4,930 | ||
Total financing receivables | 19,224 | 18,925 | ||
Net investment in leases | Non-Performing | Japan | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Current fiscal year | 402 | 151 | ||
One year ago | 605 | 776 | ||
Two years ago | 1,044 | 1,194 | ||
Three years ago | 1,103 | 1,512 | ||
Four years ago | 1,247 | 1,261 | ||
Prior | 2,109 | 2,213 | ||
Total financing receivables | 6,510 | 7,107 | ||
Net investment in leases | Non-Performing | Overseas | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Current fiscal year | 2,206 | 1,215 | ||
One year ago | 2,294 | 2,281 | ||
Two years ago | 2,430 | 2,247 | ||
Three years ago | 1,684 | 1,639 | ||
Four years ago | 931 | 1,719 | ||
Prior | 3,169 | 2,717 | ||
Total financing receivables | 12,714 | 11,818 | ||
Other financial assets measured at amortized cost | Performing | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Current fiscal year | 14,287 | 14,882 | ||
One year ago | 2,220 | 1,045 | ||
Two years ago | 345 | 67 | ||
Three years ago | 0 | 938 | ||
Four years ago | 817 | 2,502 | ||
Prior | 17,743 | 13,762 | ||
Total financing receivables | 35,412 | 33,196 | ||
Other financial assets measured at amortized cost | Non-Performing | ||||
Financing Receivable, Recorded Investment [Line Items] | ||||
Current fiscal year | 0 | 0 | ||
One year ago | 0 | 0 | ||
Two years ago | 58 | 0 | ||
Three years ago | 0 | 908 | ||
Four years ago | 1,586 | 0 | ||
Prior | 0 | 0 | ||
Total financing receivables | ¥ 1,644 | ¥ 908 | ||
[1]Other in loans to consumer borrowers includes claims receivable arising from payments on guarantee of consumer loans. For further information, see Note 33 “Commitments, Guarantees and Contingent Liabilities” |
Credit Quality of Financial A_9
Credit Quality of Financial Assets and the Allowance for Credit Losses - Summary of Revolving Repayment Card Loans (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2022 | Mar. 31, 2021 |
Performing | ||
Details Of Financial Assets Including Revolving Repayment Card Loans [Line Items] | ||
Revolving repayment card loans | ¥ 169,601 | ¥ 183,722 |
Modification of collection condition by relief of contract condition | 0 | 0 |
Total—revolving repayment card loans | 169,601 | 183,722 |
Total— origination year (excluding revolving repayment card loans) | 4,519,699 | 4,364,664 |
Total— financial assets measured at amortized cost | 4,689,300 | 4,548,386 |
Non-Performing | ||
Details Of Financial Assets Including Revolving Repayment Card Loans [Line Items] | ||
Revolving repayment card loans | 671 | 1,132 |
Modification of collection condition by relief of contract condition | 3,415 | 3,693 |
Total—revolving repayment card loans | 4,086 | 4,825 |
Total— origination year (excluding revolving repayment card loans) | 102,099 | 102,946 |
Total— financial assets measured at amortized cost | ¥ 106,185 | ¥ 107,771 |
Credit Quality of Financial _10
Credit Quality of Financial Assets and the Allowance for Credit Losses - Summary of Past-Due Financial Assets (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total financing receivables | ¥ 4,744,682 | ¥ 4,609,702 | ¥ 4,694,256 |
Financial Asset, Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Due Financing Receivables | 89,663 | 74,009 | |
30 To 89 Days Past Due | Financial Asset, Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Due Financing Receivables | 34,345 | 22,181 | |
90 Days or More Past Due | Financial Asset, Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Due Financing Receivables | 55,318 | 51,828 | |
Consumer borrowers | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total financing receivables | 2,343,030 | 2,311,624 | 2,171,139 |
Consumer borrowers | Financial Asset, Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Due Financing Receivables | 9,820 | 14,810 | |
Consumer borrowers | 30 To 89 Days Past Due | Financial Asset, Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Due Financing Receivables | 4,183 | 4,553 | |
Consumer borrowers | 90 Days or More Past Due | Financial Asset, Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Due Financing Receivables | 5,637 | 10,257 | |
Consumer borrowers | Consumer - Real Estate Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total financing receivables | 2,113,430 | 2,070,921 | |
Consumer borrowers | Consumer - Real Estate Loans | Financial Asset, Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Due Financing Receivables | 3,735 | 3,890 | |
Consumer borrowers | Consumer - Real Estate Loans | 30 To 89 Days Past Due | Financial Asset, Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Due Financing Receivables | 1,473 | 1,375 | |
Consumer borrowers | Consumer - Real Estate Loans | 90 Days or More Past Due | Financial Asset, Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Due Financing Receivables | 2,262 | 2,515 | |
Consumer borrowers | Consumer-Card loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total financing receivables | 173,687 | 188,547 | |
Consumer borrowers | Consumer-Card loans | Financial Asset, Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Due Financing Receivables | 874 | 1,476 | |
Consumer borrowers | Consumer-Card loans | 30 To 89 Days Past Due | Financial Asset, Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Due Financing Receivables | 371 | 371 | |
Consumer borrowers | Consumer-Card loans | 90 Days or More Past Due | Financial Asset, Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Due Financing Receivables | 503 | 1,105 | |
Consumer borrowers | Consumer - Other | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total financing receivables | 55,913 | 52,156 | |
Consumer borrowers | Consumer - Other | Financial Asset, Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Due Financing Receivables | 5,211 | 9,444 | |
Consumer borrowers | Consumer - Other | 30 To 89 Days Past Due | Financial Asset, Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Due Financing Receivables | 2,339 | 2,807 | |
Consumer borrowers | Consumer - Other | 90 Days or More Past Due | Financial Asset, Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Due Financing Receivables | 2,872 | 6,637 | |
Corporate borrowers | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total financing receivables | 1,343,679 | 1,268,560 | |
Corporate borrowers | Financial Asset, Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Due Financing Receivables | 52,775 | 32,739 | |
Corporate borrowers | 30 To 89 Days Past Due | Financial Asset, Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Due Financing Receivables | 20,840 | 8,296 | |
Corporate borrowers | 90 Days or More Past Due | Financial Asset, Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Due Financing Receivables | 31,935 | 24,443 | |
Corporate borrowers | Non-recourse Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total financing receivables | ¥ 132,081 | ||
Corporate borrowers | Non-recourse Loans | Japan | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total financing receivables | 74,085 | 47,956 | |
Corporate borrowers | Non-recourse Loans | Japan | Financial Asset, Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Due Financing Receivables | 0 | 0 | |
Corporate borrowers | Non-recourse Loans | The Americas | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total financing receivables | 80,918 | 113,129 | |
Corporate borrowers | Non-recourse Loans | The Americas | Financial Asset, Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Due Financing Receivables | 3,556 | 6,509 | |
Corporate borrowers | Non-recourse Loans | 30 To 89 Days Past Due | Japan | Financial Asset, Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Due Financing Receivables | 0 | 0 | |
Corporate borrowers | Non-recourse Loans | 30 To 89 Days Past Due | The Americas | Financial Asset, Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Due Financing Receivables | 514 | 5,193 | |
Corporate borrowers | Non-recourse Loans | 90 Days or More Past Due | Japan | Financial Asset, Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Due Financing Receivables | 0 | 0 | |
Corporate borrowers | Non-recourse Loans | 90 Days or More Past Due | The Americas | Financial Asset, Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Due Financing Receivables | 3,042 | 1,316 | |
Corporate borrowers | Real estate companies in Japan | Japan | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total financing receivables | 278,607 | 279,046 | |
Corporate borrowers | Real estate companies in Japan | Japan | Financial Asset, Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Due Financing Receivables | 928 | 922 | |
Corporate borrowers | Real estate companies in Japan | 30 To 89 Days Past Due | Japan | Financial Asset, Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Due Financing Receivables | 578 | 144 | |
Corporate borrowers | Real estate companies in Japan | 90 Days or More Past Due | Japan | Financial Asset, Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Due Financing Receivables | 350 | 778 | |
Corporate borrowers | Real estate companies in overseas | Overseas | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total financing receivables | 121,851 | 133,802 | |
Corporate borrowers | Real estate companies in overseas | Overseas | Financial Asset, Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Due Financing Receivables | 36,992 | 14,505 | |
Corporate borrowers | Real estate companies in overseas | 30 To 89 Days Past Due | Overseas | Financial Asset, Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Due Financing Receivables | 16,113 | 0 | |
Corporate borrowers | Real estate companies in overseas | 90 Days or More Past Due | Overseas | Financial Asset, Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Due Financing Receivables | 20,879 | 14,505 | |
Corporate borrowers | Commercial, industrial and other companies in Japan | Japan | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total financing receivables | 164,132 | 200,033 | |
Corporate borrowers | Commercial, industrial and other companies in Japan | Japan | Financial Asset, Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Due Financing Receivables | 2,511 | 2,585 | |
Corporate borrowers | Commercial, industrial and other companies in Japan | 30 To 89 Days Past Due | Japan | Financial Asset, Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Due Financing Receivables | 1,243 | 592 | |
Corporate borrowers | Commercial, industrial and other companies in Japan | 90 Days or More Past Due | Japan | Financial Asset, Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Due Financing Receivables | 1,268 | 1,993 | |
Corporate borrowers | Commercial, industrial and other companies in overseas | Overseas | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total financing receivables | 624,086 | 494,594 | |
Corporate borrowers | Commercial, industrial and other companies in overseas | Overseas | Financial Asset, Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Due Financing Receivables | 8,788 | 8,218 | |
Corporate borrowers | Commercial, industrial and other companies in overseas | 30 To 89 Days Past Due | Overseas | Financial Asset, Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Due Financing Receivables | 2,392 | 2,367 | |
Corporate borrowers | Commercial, industrial and other companies in overseas | 90 Days or More Past Due | Overseas | Financial Asset, Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Due Financing Receivables | 6,396 | 5,851 | |
Net investment in leases | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total financing receivables | 1,057,973 | 1,029,518 | |
Net investment in leases | Financial Asset, Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Due Financing Receivables | 27,068 | 26,460 | |
Net investment in leases | Japan | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total financing receivables | 652,455 | 687,462 | |
Net investment in leases | Japan | Financial Asset, Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Due Financing Receivables | 8,034 | 8,604 | |
Net investment in leases | Overseas | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total financing receivables | 405,518 | 342,056 | |
Net investment in leases | Overseas | Financial Asset, Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Due Financing Receivables | 19,034 | 17,856 | |
Net investment in leases | 30 To 89 Days Past Due | Financial Asset, Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Due Financing Receivables | 9,322 | 9,332 | |
Net investment in leases | 30 To 89 Days Past Due | Japan | Financial Asset, Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Due Financing Receivables | 2,252 | 2,257 | |
Net investment in leases | 30 To 89 Days Past Due | Overseas | Financial Asset, Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Due Financing Receivables | 7,070 | 7,075 | |
Net investment in leases | 90 Days or More Past Due | Financial Asset, Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Due Financing Receivables | 17,746 | 17,128 | |
Net investment in leases | 90 Days or More Past Due | Japan | Financial Asset, Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Due Financing Receivables | 5,782 | 6,347 | |
Net investment in leases | 90 Days or More Past Due | Overseas | Financial Asset, Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Due Financing Receivables | ¥ 11,964 | ¥ 10,781 |
Credit Quality of Financial _11
Credit Quality of Financial Assets and the Allowance for Credit Losses - Summary of Non-Accrual of Financial Assets (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Dislcosure Detail Of Non Accrual Of Financial Assets [Line Items] | |||
Beginning balance | ¥ 81,308 | ¥ 73,575 | |
Ending balance | 73,401 | 81,308 | ¥ 73,575 |
Interest income recognized during the reporting period | 690 | 748 | 661 |
Balance not associated allowance for credit losses among financial assets measured at amortized cost, which is suspending recognition of income | 4,296 | 11,308 | |
Consumer borrowers | |||
Dislcosure Detail Of Non Accrual Of Financial Assets [Line Items] | |||
Interest income recognized during the reporting period | 403 | ||
Consumer borrowers | Japan Real Estate Loans [Member] | |||
Dislcosure Detail Of Non Accrual Of Financial Assets [Line Items] | |||
Beginning balance | 1,976 | 2,469 | |
Ending balance | 1,824 | 1,976 | 2,469 |
Interest income recognized during the reporting period | 193 | 194 | |
Balance not associated allowance for credit losses among financial assets measured at amortized cost, which is suspending recognition of income | 21 | 424 | |
Consumer borrowers | Overseas Real Estate Loans [Member] | |||
Dislcosure Detail Of Non Accrual Of Financial Assets [Line Items] | |||
Beginning balance | 570 | 0 | |
Ending balance | 475 | 570 | 0 |
Interest income recognized during the reporting period | 0 | 0 | |
Balance not associated allowance for credit losses among financial assets measured at amortized cost, which is suspending recognition of income | 129 | 268 | |
Consumer borrowers | Japan Card Loans [Member] | |||
Dislcosure Detail Of Non Accrual Of Financial Assets [Line Items] | |||
Beginning balance | 1,115 | 2,114 | |
Ending balance | 503 | 1,115 | 2,114 |
Interest income recognized during the reporting period | 35 | 50 | |
Balance not associated allowance for credit losses among financial assets measured at amortized cost, which is suspending recognition of income | 0 | 0 | |
Consumer borrowers | Japan Other [Member] | |||
Dislcosure Detail Of Non Accrual Of Financial Assets [Line Items] | |||
Beginning balance | 5,970 | 8,611 | |
Ending balance | 2,391 | 5,970 | 8,611 |
Interest income recognized during the reporting period | 208 | 275 | |
Balance not associated allowance for credit losses among financial assets measured at amortized cost, which is suspending recognition of income | 0 | 44 | |
Consumer borrowers | Overseas Other [Member] | |||
Dislcosure Detail Of Non Accrual Of Financial Assets [Line Items] | |||
Beginning balance | 691 | 413 | |
Ending balance | 519 | 691 | 413 |
Interest income recognized during the reporting period | 0 | 0 | |
Balance not associated allowance for credit losses among financial assets measured at amortized cost, which is suspending recognition of income | 39 | 0 | |
Corporate borrowers | |||
Dislcosure Detail Of Non Accrual Of Financial Assets [Line Items] | |||
Interest income recognized during the reporting period | 119 | ||
Corporate borrowers | Overseas Non Recourse Loans [Member] | |||
Dislcosure Detail Of Non Accrual Of Financial Assets [Line Items] | |||
Beginning balance | 10,148 | 2,466 | |
Ending balance | 8,787 | 10,148 | 2,466 |
Interest income recognized during the reporting period | 0 | 0 | |
Balance not associated allowance for credit losses among financial assets measured at amortized cost, which is suspending recognition of income | 0 | 0 | |
Corporate borrowers | Japan real estate companies [Member] | |||
Dislcosure Detail Of Non Accrual Of Financial Assets [Line Items] | |||
Beginning balance | 778 | 586 | |
Ending balance | 351 | 778 | 586 |
Interest income recognized during the reporting period | 51 | 30 | |
Balance not associated allowance for credit losses among financial assets measured at amortized cost, which is suspending recognition of income | 61 | 509 | |
Corporate borrowers | Overseas real estate companies [Member] | |||
Dislcosure Detail Of Non Accrual Of Financial Assets [Line Items] | |||
Beginning balance | 14,505 | 12,491 | |
Ending balance | 20,879 | 14,505 | 12,491 |
Interest income recognized during the reporting period | 0 | 0 | |
Balance not associated allowance for credit losses among financial assets measured at amortized cost, which is suspending recognition of income | 0 | 0 | |
Corporate borrowers | Japan commercial, industrial companies [Member] | |||
Dislcosure Detail Of Non Accrual Of Financial Assets [Line Items] | |||
Beginning balance | 1,993 | 2,409 | |
Ending balance | 1,267 | 1,993 | 2,409 |
Interest income recognized during the reporting period | 91 | 196 | |
Balance not associated allowance for credit losses among financial assets measured at amortized cost, which is suspending recognition of income | 28 | 127 | |
Corporate borrowers | Overseas commercial, industrial companies and other [Member] | |||
Dislcosure Detail Of Non Accrual Of Financial Assets [Line Items] | |||
Beginning balance | 26,396 | 26,670 | |
Ending balance | 18,634 | 26,396 | 26,670 |
Interest income recognized during the reporting period | 112 | 3 | |
Balance not associated allowance for credit losses among financial assets measured at amortized cost, which is suspending recognition of income | 4,018 | 9,936 | |
Net investment in leases | |||
Dislcosure Detail Of Non Accrual Of Financial Assets [Line Items] | |||
Beginning balance | 17,166 | 15,346 | |
Ending balance | 17,771 | 17,166 | ¥ 15,346 |
Interest income recognized during the reporting period | 0 | 0 | |
Balance not associated allowance for credit losses among financial assets measured at amortized cost, which is suspending recognition of income | ¥ 0 | ¥ 0 |
Credit Quality of Financial _12
Credit Quality of Financial Assets and the Allowance for Credit Losses - Summary of Troubled Debt Restructurings of Financing Receivables (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Financing Receivable, Modifications [Line Items] | |||
Pre-modification outstanding recorded investment | ¥ 14,242 | ¥ 24,002 | ¥ 16,826 |
Post-modification outstanding recorded investment | 11,471 | 19,776 | 13,804 |
Consumer borrowers | |||
Financing Receivable, Modifications [Line Items] | |||
Pre-modification outstanding recorded investment | 8,761 | 9,279 | 12,041 |
Post-modification outstanding recorded investment | 6,152 | 6,727 | 9,025 |
Consumer borrowers | Consumer - Real Estate Loans | |||
Financing Receivable, Modifications [Line Items] | |||
Pre-modification outstanding recorded investment | 15 | 34 | 19 |
Post-modification outstanding recorded investment | 6 | 23 | 17 |
Consumer borrowers | Consumer-Card loans | |||
Financing Receivable, Modifications [Line Items] | |||
Pre-modification outstanding recorded investment | 1,385 | 1,677 | 1,899 |
Post-modification outstanding recorded investment | 1,072 | 1,261 | 1,396 |
Consumer borrowers | Consumer - Other | |||
Financing Receivable, Modifications [Line Items] | |||
Pre-modification outstanding recorded investment | 7,361 | 7,568 | 10,123 |
Post-modification outstanding recorded investment | 5,074 | 5,443 | 7,612 |
Corporate borrowers | |||
Financing Receivable, Modifications [Line Items] | |||
Pre-modification outstanding recorded investment | 5,481 | 14,723 | 4,785 |
Post-modification outstanding recorded investment | 5,319 | 13,049 | 4,779 |
Corporate borrowers | Real estate companies in overseas | Overseas | |||
Financing Receivable, Modifications [Line Items] | |||
Pre-modification outstanding recorded investment | 111 | ||
Post-modification outstanding recorded investment | 111 | ||
Corporate borrowers | Commercial, industrial and other companies in Japan | Japan | |||
Financing Receivable, Modifications [Line Items] | |||
Pre-modification outstanding recorded investment | 38 | ||
Post-modification outstanding recorded investment | 38 | ||
Corporate borrowers | Commercial, industrial and other companies in overseas | Overseas | |||
Financing Receivable, Modifications [Line Items] | |||
Pre-modification outstanding recorded investment | 5,481 | 14,574 | 4,034 |
Post-modification outstanding recorded investment | ¥ 5,319 | ¥ 12,900 | ¥ 4,028 |
Credit Quality of Financial _13
Credit Quality of Financial Assets and the Allowance for Credit Losses - Summary of Financing Receivables Modified as Troubled Debt Restructurings (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Financing Receivable, Modifications [Line Items] | |||
Recorded investment | ¥ 900 | ¥ 1,139 | ¥ 1,712 |
Consumer borrowers | |||
Financing Receivable, Modifications [Line Items] | |||
Recorded investment | 900 | 387 | 1,687 |
Consumer borrowers | Consumer - Real Estate Loans | |||
Financing Receivable, Modifications [Line Items] | |||
Recorded investment | 4 | ||
Consumer borrowers | Consumer-Card loans | |||
Financing Receivable, Modifications [Line Items] | |||
Recorded investment | 6 | 36 | 22 |
Consumer borrowers | Consumer - Other | |||
Financing Receivable, Modifications [Line Items] | |||
Recorded investment | ¥ 890 | 351 | 1,665 |
Corporate borrowers | |||
Financing Receivable, Modifications [Line Items] | |||
Recorded investment | 752 | 25 | |
Corporate borrowers | Commercial, industrial and other companies in overseas | Overseas | |||
Financing Receivable, Modifications [Line Items] | |||
Recorded investment | ¥ 752 | ¥ 25 |
Credit Quality of Financial _14
Credit Quality of Financial Assets and the Allowance for Credit Losses - Additional Information (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2022 | Mar. 31, 2021 |
Loans for which real estate is received as collateral | Instalment loans | ||
Financing Receivable, Modifications [Line Items] | ||
Mortgage loans in process of foreclosure | ¥ 162 | ¥ 70 |
Investment in Securities (Summa
Investment in Securities (Summary of Investment in Securities) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2022 | Mar. 31, 2021 | |
Equity securities | [1] | ¥ 560,643 | ¥ 540,082 |
Trading debt securities | 2,503 | 2,654 | |
Available-for-sale debt securities | 2,174,891 | 2,003,917 | |
Held-to-maturity debt securities | 114,312 | 113,790 | |
Total | ¥ 2,852,349 | ¥ 2,660,443 | |
[1]The amount of assets under management of variable annuity and variable life insurance contracts included in equity securities were ¥249,830 million and ¥185,115 million as of March 31, 2021 and 2022, respectively. The amount of investment funds that are accounted for under the equity method included in equity securities were ¥82,420 million and ¥ 90,650 million as of March 31, 2021 and 2022, respectively. The amount of investment funds and others elected the fair value option included in equity securities were ¥4,940 million and ¥11,709 million as of March 31, 2021 and 2022, respectively. |
Investment in Securities (Sum_2
Investment in Securities (Summary of Investment in Securities) (Parenthetical) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2022 | Mar. 31, 2021 | |
Schedule of Investments [Line Items] | |||
Equity securities | ¥ 19,353 | ¥ 9,384 | |
Equity securities | [1] | 560,643 | 540,082 |
Investment Funds Elected for Fair Value Option | |||
Schedule of Investments [Line Items] | |||
Equity securities | 11,709 | 4,940 | |
Variable Annuity and Variable Life Insurance Contracts | |||
Schedule of Investments [Line Items] | |||
Equity securities | 185,115 | 249,830 | |
Investment funds that are accounted for under the equity method | |||
Schedule of Investments [Line Items] | |||
Equity securities | ¥ 90,650 | ¥ 82,420 | |
[1]The amount of assets under management of variable annuity and variable life insurance contracts included in equity securities were ¥249,830 million and ¥185,115 million as of March 31, 2021 and 2022, respectively. The amount of investment funds that are accounted for under the equity method included in equity securities were ¥82,420 million and ¥ 90,650 million as of March 31, 2021 and 2022, respectively. The amount of investment funds and others elected the fair value option included in equity securities were ¥4,940 million and ¥11,709 million as of March 31, 2021 and 2022, respectively. |
Investment in Securities - Addi
Investment in Securities - Additional Information (Detail) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2022 JPY (¥) Investment | Mar. 31, 2021 JPY (¥) Investment | Mar. 31, 2020 JPY (¥) | |
Schedule of Investments [Line Items] | |||
Net unrealized holding gains (losses) on trading securities | ¥ 26,075 | ¥ 83,643 | ¥ (19,910) |
Proceeds from sales of available-for-sale debt securities | 239,250 | 285,836 | 249,427 |
Available-for-sale debt securities gross realized gains | 6,493 | 8,854 | 9,274 |
Available-for-sale debt securities gross realized losses | 1,236 | 1,918 | 264 |
Investment funds fair value | ¥ 19,353 | ¥ 9,384 | |
Number of investment securities in an unrealized loss position | Investment | 963 | 638 | |
Debt securities available-for-sale accrued interest, after allowance for credit loss | ¥ 8,798 | ¥ 7,374 | |
Finance revenues | 12,737 | 11,870 | 13,657 |
Accrued Interest Receivables [Member] | |||
Schedule of Investments [Line Items] | |||
Allowance for credit loss of accrued interest | 0 | ||
Equity securities | |||
Schedule of Investments [Line Items] | |||
Investment funds fair value | 11,709 | 4,940 | |
Trading Debt Securities | |||
Schedule of Investments [Line Items] | |||
Net unrealized holding gains (losses) on trading debt securities | 213 | 120 | ¥ 491 |
Available-for-sale securities | Foreign Corporate Debt Securities | |||
Schedule of Investments [Line Items] | |||
Investment funds fair value | 7,644 | 2,907 | |
Available-for-sale Debt Securities | Foreign Government Bond Securities | |||
Schedule of Investments [Line Items] | |||
Investment funds fair value | ¥ 0 | ¥ 1,537 |
Investment in Securities (Infor
Investment in Securities (Information About Impairment and Upward or Downward Adjustments Resulting From Observable Price Changes) (Detail) - Equity security - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Schedule Of Gain Loss On Investments Held At Cost Balance Sheet and Income Statement Reported Amounts Summary [Line Items] | ||
Carrying value | ¥ 58,723 | ¥ 47,460 |
Accumulated impairments and downward adjustments | (13,880) | (13,474) |
Accumulated upward adjustments | 401 | 350 |
Impairments and downward adjustments | (208) | (1,479) |
Upward adjustments | ¥ 163 | ¥ 232 |
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 | Mar. 31, 2022 | Mar. 31, 2021 |
Schedule of Investments [Line Items] | ||
Available-for-sale debt securities, Amortized cost | ¥ 2,276,425 | ¥ 2,026,767 |
Available-for-sale debt securities, Allowance for credit losses | (153) | (120) |
Available-for-sale debt securities, Fair value | 2,174,891 | 2,003,917 |
Held-to-maturity securities, Amortized cost | 114,312 | 113,790 |
Held-to-maturity securities, Fair value | 135,441 | |
Total amortized cost | 2,390,737 | 2,140,557 |
Total allowance for credit losses | (153) | (120) |
Total gross unrealized gains | 44,371 | 50,633 |
Total gross unrealized losses | (124,623) | (48,021) |
Total fair values | 2,310,332 | 2,143,049 |
Japanese and foreign government bond securities | ||
Schedule of Investments [Line Items] | ||
Available-for-sale debt securities, Amortized cost | 905,004 | 846,736 |
Available-for-sale debt securities, Allowance for credit losses | 0 | 0 |
Available-for-sale debt securities, Gross unrealized gains | 5,178 | 6,071 |
Available-for-sale debt securities, Gross unrealized losses | (77,569) | (31,649) |
Available-for-sale debt securities, Fair value | 832,613 | 821,158 |
Japanese prefectural and foreign municipal bond securities | ||
Schedule of Investments [Line Items] | ||
Available-for-sale debt securities, Amortized cost | 333,449 | 274,770 |
Available-for-sale debt securities, Allowance for credit losses | (132) | (120) |
Available-for-sale debt securities, Gross unrealized gains | 2,482 | 4,238 |
Available-for-sale debt securities, Gross unrealized losses | (10,195) | (2,612) |
Available-for-sale debt securities, Fair value | 325,604 | 276,276 |
Corporate debt securities | ||
Schedule of Investments [Line Items] | ||
Available-for-sale debt securities, Amortized cost | 873,178 | 742,862 |
Available-for-sale debt securities, Allowance for credit losses | 0 | 0 |
Available-for-sale debt securities, Gross unrealized gains | 10,014 | 10,125 |
Available-for-sale debt securities, Gross unrealized losses | (33,632) | (10,736) |
Available-for-sale debt securities, Fair value | 849,560 | 742,251 |
CMBS and RMBS in the Americas | ||
Schedule of Investments [Line Items] | ||
Available-for-sale debt securities, Amortized cost | 29,349 | 35,668 |
Available-for-sale debt securities, Allowance for credit losses | 0 | 0 |
Available-for-sale debt securities, Gross unrealized gains | 112 | 549 |
Available-for-sale debt securities, Gross unrealized losses | (729) | (1,760) |
Available-for-sale debt securities, Fair value | 28,732 | 34,457 |
Other asset-backed securities and debt securities | ||
Schedule of Investments [Line Items] | ||
Available-for-sale debt securities, Amortized cost | 135,445 | 126,731 |
Available-for-sale debt securities, Allowance for credit losses | (21) | 0 |
Available-for-sale debt securities, Gross unrealized gains | 5,456 | 4,308 |
Available-for-sale debt securities, Gross unrealized losses | (2,498) | (1,264) |
Available-for-sale debt securities, Fair value | 138,382 | 129,775 |
Japanese government bond securities and other | ||
Schedule of Investments [Line Items] | ||
Held-to-maturity securities, Amortized cost | 114,312 | 113,790 |
Held-to-maturity securities, Allowance for credit losses | 0 | 0 |
Held-to-maturity securities, Gross unrealized gains | 21,129 | 25,342 |
Held-to-maturity securities, Gross unrealized losses | 0 | 0 |
Held-to-maturity securities, Fair value | 135,441 | 139,132 |
Equity securities | ||
Schedule of Investments [Line Items] | ||
Available-for-sale debt securities, Amortized cost | 2,276,425 | 2,026,767 |
Available-for-sale debt securities, Allowance for credit losses | (153) | (120) |
Available-for-sale debt securities, Gross unrealized gains | 23,242 | 25,291 |
Available-for-sale debt securities, Gross unrealized losses | (124,623) | (48,021) |
Available-for-sale debt securities, Fair value | ¥ 2,174,891 | ¥ 2,003,917 |
Investment in Securities (Sum_3
Investment in Securities (Summary of Roll-forward of Allowance for Credit Losses) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Accounts And Financing Receivable For Credit Losses [Line Items] | ||
Beginning | ¥ 120 | ¥ 0 |
Additions to the allowance for credit losses on available-for-sale debt securities for which credit losses were not previously recorded | 21 | 120 |
Increase (Decrease) from the effects of changes in foreign exchange rates | 12 | |
Ending | 153 | 120 |
Foreign municipal bond securities | ||
Accounts And Financing Receivable For Credit Losses [Line Items] | ||
Beginning | 120 | 0 |
Additions to the allowance for credit losses on available-for-sale debt securities for which credit losses were not previously recorded | 0 | 120 |
Increase (Decrease) from the effects of changes in foreign exchange rates | 12 | |
Ending | 132 | 120 |
Japanese other asset- backed securities and debt securities | ||
Accounts And Financing Receivable For Credit Losses [Line Items] | ||
Beginning | 0 | |
Additions to the allowance for credit losses on available-for-sale debt securities for which credit losses were not previously recorded | 21 | |
Increase (Decrease) from the effects of changes in foreign exchange rates | 0 | |
Ending | ¥ 21 | ¥ 0 |
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 | Mar. 31, 2022 | Mar. 31, 2021 |
Japanese and foreign government bond securities | ||
Investments, Unrealized Loss Position [Line Items] | ||
Available-for-sale debt Securities, Less than 12 months Fair value | ¥ 217,457 | ¥ 475,023 |
Available-for-sale debt Securities, Less than 12 months Gross unrealized losses | (16,117) | (21,472) |
Available-for-sale debt Securities, 12 months or more Fair value | 521,633 | 264,105 |
Available-for-sale debt Securities, 12 months or more Gross unrealized losses | (61,452) | (10,177) |
Available-for-sale debt Securities, Total Fair value | 739,090 | 739,128 |
Available-for-sale debt Securities, Total Gross unrealized losses | (77,569) | (31,649) |
Japanese and foreign government bond securities | Allowance for credit losses not recorded | ||
Investments, Unrealized Loss Position [Line Items] | ||
Available-for-sale debt Securities, Less than 12 months Fair value | 217,457 | 475,023 |
Available-for-sale debt Securities, Less than 12 months Gross unrealized losses | (16,117) | (21,472) |
Available-for-sale debt Securities, 12 months or more Fair value | 521,633 | 264,105 |
Available-for-sale debt Securities, 12 months or more Gross unrealized losses | (61,452) | (10,177) |
Available-for-sale debt Securities, Total Fair value | 739,090 | 739,128 |
Available-for-sale debt Securities, Total Gross unrealized losses | (77,569) | (31,649) |
Japanese prefectural and foreign municipal bond securities | ||
Investments, Unrealized Loss Position [Line Items] | ||
Available-for-sale debt Securities, Less than 12 months Fair value | 190,081 | 48,367 |
Available-for-sale debt Securities, Less than 12 months Gross unrealized losses | (6,509) | (519) |
Available-for-sale debt Securities, 12 months or more Fair value | 46,391 | 63,316 |
Available-for-sale debt Securities, 12 months or more Gross unrealized losses | (3,818) | (2,213) |
Available-for-sale debt Securities, Total Fair value | 236,472 | 111,683 |
Available-for-sale debt Securities, Total Gross unrealized losses | (10,327) | (2,732) |
Japanese prefectural and foreign municipal bond securities | Allowance for credit losses not recorded | ||
Investments, Unrealized Loss Position [Line Items] | ||
Available-for-sale debt Securities, Less than 12 months Fair value | 190,081 | 45,486 |
Available-for-sale debt Securities, Less than 12 months Gross unrealized losses | (6,509) | (399) |
Available-for-sale debt Securities, 12 months or more Fair value | 43,338 | 63,316 |
Available-for-sale debt Securities, 12 months or more Gross unrealized losses | (3,686) | (2,213) |
Available-for-sale debt Securities, Total Fair value | 233,419 | 108,802 |
Available-for-sale debt Securities, Total Gross unrealized losses | (10,195) | (2,612) |
Corporate debt securities | ||
Investments, Unrealized Loss Position [Line Items] | ||
Available-for-sale debt Securities, Less than 12 months Fair value | 373,506 | 231,552 |
Available-for-sale debt Securities, Less than 12 months Gross unrealized losses | (19,340) | (5,798) |
Available-for-sale debt Securities, 12 months or more Fair value | 156,687 | 141,559 |
Available-for-sale debt Securities, 12 months or more Gross unrealized losses | (14,292) | (4,938) |
Available-for-sale debt Securities, Total Fair value | 530,193 | 373,111 |
Available-for-sale debt Securities, Total Gross unrealized losses | (33,632) | (10,736) |
Corporate debt securities | Allowance for credit losses not recorded | ||
Investments, Unrealized Loss Position [Line Items] | ||
Available-for-sale debt Securities, Less than 12 months Fair value | 373,506 | 231,552 |
Available-for-sale debt Securities, Less than 12 months Gross unrealized losses | (19,340) | (5,798) |
Available-for-sale debt Securities, 12 months or more Fair value | 156,687 | 141,559 |
Available-for-sale debt Securities, 12 months or more Gross unrealized losses | (14,292) | (4,938) |
Available-for-sale debt Securities, Total Fair value | 530,193 | 373,111 |
Available-for-sale debt Securities, Total Gross unrealized losses | (33,632) | (10,736) |
CMBS and RMBS in the Americas | ||
Investments, Unrealized Loss Position [Line Items] | ||
Available-for-sale debt Securities, Less than 12 months Fair value | 6,458 | 345 |
Available-for-sale debt Securities, Less than 12 months Gross unrealized losses | (98) | (6) |
Available-for-sale debt Securities, 12 months or more Fair value | 17,542 | 24,782 |
Available-for-sale debt Securities, 12 months or more Gross unrealized losses | (631) | (1,754) |
Available-for-sale debt Securities, Total Fair value | 24,000 | 25,127 |
Available-for-sale debt Securities, Total Gross unrealized losses | (729) | (1,760) |
CMBS and RMBS in the Americas | Allowance for credit losses not recorded | ||
Investments, Unrealized Loss Position [Line Items] | ||
Available-for-sale debt Securities, Less than 12 months Fair value | 6,458 | 345 |
Available-for-sale debt Securities, Less than 12 months Gross unrealized losses | (98) | (6) |
Available-for-sale debt Securities, 12 months or more Fair value | 17,542 | 24,782 |
Available-for-sale debt Securities, 12 months or more Gross unrealized losses | (631) | (1,754) |
Available-for-sale debt Securities, Total Fair value | 24,000 | 25,127 |
Available-for-sale debt Securities, Total Gross unrealized losses | (729) | (1,760) |
Other asset-backed securities and debt securities | ||
Investments, Unrealized Loss Position [Line Items] | ||
Available-for-sale debt Securities, Less than 12 months Fair value | 66,543 | 4,296 |
Available-for-sale debt Securities, Less than 12 months Gross unrealized losses | (995) | (112) |
Available-for-sale debt Securities, 12 months or more Fair value | 37,432 | 29,750 |
Available-for-sale debt Securities, 12 months or more Gross unrealized losses | (1,524) | (1,152) |
Available-for-sale debt Securities, Total Fair value | 103,975 | 34,046 |
Available-for-sale debt Securities, Total Gross unrealized losses | (2,519) | (1,264) |
Other asset-backed securities and debt securities | Allowance for credit losses not recorded | ||
Investments, Unrealized Loss Position [Line Items] | ||
Available-for-sale debt Securities, Less than 12 months Fair value | 66,489 | 4,296 |
Available-for-sale debt Securities, Less than 12 months Gross unrealized losses | (974) | (112) |
Available-for-sale debt Securities, 12 months or more Fair value | 37,432 | 29,750 |
Available-for-sale debt Securities, 12 months or more Gross unrealized losses | (1,524) | (1,152) |
Available-for-sale debt Securities, Total Fair value | 103,921 | 34,046 |
Available-for-sale debt Securities, Total Gross unrealized losses | (2,498) | (1,264) |
Available-for-sale debt securities | ||
Investments, Unrealized Loss Position [Line Items] | ||
Available-for-sale debt Securities, Less than 12 months Fair value | 854,045 | 759,583 |
Available-for-sale debt Securities, Less than 12 months Gross unrealized losses | (43,059) | (27,907) |
Available-for-sale debt Securities, 12 months or more Fair value | 779,685 | 523,512 |
Available-for-sale debt Securities, 12 months or more Gross unrealized losses | (81,717) | (20,234) |
Available-for-sale debt Securities, Total Fair value | 1,633,730 | 1,283,095 |
Available-for-sale debt Securities, Total Gross unrealized losses | (124,776) | (48,141) |
Available-for-sale debt securities | Allowance for credit losses not recorded | ||
Investments, Unrealized Loss Position [Line Items] | ||
Available-for-sale debt Securities, Less than 12 months Fair value | 853,991 | 756,702 |
Available-for-sale debt Securities, Less than 12 months Gross unrealized losses | (43,038) | (27,787) |
Available-for-sale debt Securities, 12 months or more Fair value | 776,632 | 523,512 |
Available-for-sale debt Securities, 12 months or more Gross unrealized losses | (81,585) | (20,234) |
Available-for-sale debt Securities, Total Fair value | 1,630,623 | 1,280,214 |
Available-for-sale debt Securities, Total Gross unrealized losses | ¥ (124,623) | ¥ (48,021) |
Investment in Securities (Roll-
Investment in Securities (Roll-Forwards of Amount of Accumulated Other-Than-Temporary Impairments Related to Credit Losses) (Detail) ¥ in Millions | 12 Months Ended |
Mar. 31, 2020 JPY (¥) | |
Investments in Debt Securities [Abstract] | |
Beginning balance | ¥ 2,102 |
Addition (Reduction) during the period | 0 |
Ending balance | ¥ 2,102 |
Investment in Securities (Sum_4
Investment in Securities (Summary of Contractual Maturities of Available-for-Sale Debt Securities and Held-to-Maturity Debt Securities) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2022 | Mar. 31, 2021 |
Available-for-sale debt securities, amortized cost | ||
Due within one year | ¥ 40,955 | |
Due after one to five years | 356,995 | |
Due after five to ten years | 477,735 | |
Due after ten years | 1,400,740 | |
Available-for-sale debt securities, Amortized cost | 2,276,425 | ¥ 2,026,767 |
Available-for-sale debt securities, fair value | ||
Due within one year | 41,178 | |
Due after one to five years | 361,532 | |
Due after five to ten years | 472,733 | |
Due after ten years | 1,299,448 | |
Available-for-sale debt securities | 2,174,891 | 2,003,917 |
Held-to-maturity debt securities, amortized cost | ||
Due after five to ten years | 17,281 | |
Due after ten years | 97,031 | |
Held-to-maturity securities, Amortized cost | 114,312 | ¥ 113,790 |
Held-to-maturity debt securities, fair value | ||
Due after five to ten years | 19,775 | |
Due after ten years | 115,666 | |
Held-to-maturity securities, fair value | ¥ 135,441 |
Transfer of Financial Assets -
Transfer of Financial Assets - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Transfer of Financial Assets Accounted for as Sales [Line Items] | |||
Gain (losses) on sale from securitization and loan sales | ¥ 34,301 | ¥ 36,624 | ¥ 20,635 |
Installment Loans | |||
Transfer of Financial Assets Accounted for as Sales [Line Items] | |||
Installment loans | ¥ 1,317,496 | ¥ 1,306,495 | ¥ 643,422 |
Transfer of Financial Assets _2
Transfer of Financial Assets - Roll-Forwards of Amount of Servicing Assets (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Transfers and Servicing [Abstract] | ||
Beginning balance | ¥ 63,754 | ¥ 57,705 |
Increase mainly from loans sold with servicing retained | 13,285 | 17,434 |
Decrease mainly from amortization | (13,518) | (12,597) |
Increase (Decrease) from the effects of changes in foreign exchange rates | 6,733 | 1,212 |
Ending balance | ¥ 70,254 | ¥ 63,754 |
Transfer of Financial Assets _3
Transfer of Financial Assets - Fair Value of Servicing Assets (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2022 | Mar. 31, 2021 |
Transfers and Servicing [Abstract] | ||
Beginning balance | ¥ 74,135 | ¥ 60,419 |
Ending balance | ¥ 83,732 | ¥ 74,135 |
Variable Interest Entities (Inf
Variable Interest Entities (Information about Consolidated VIEs) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Variable Interest Entity [Line Items] | ||||
Total assets | ¥ 14,270,672 | ¥ 13,563,082 | ¥ 13,067,528 | |
Total Liabilities | 10,899,271 | 10,459,938 | ||
Variable Interest Entity, Primary Beneficiary [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Total assets | 675,948 | 714,540 | ||
Total Liabilities | 472,454 | 458,182 | ||
Variable Interest Entity, Primary Beneficiary [Member] | Consolidated VIEs [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Total assets | [1] | 897,964 | 913,307 | |
Total Liabilities | [1] | 483,558 | 466,633 | |
Assets which are pledged as collateral | [2] | 675,948 | 714,540 | |
Commitments | [3] | 87,983 | 65,041 | |
Liquidating customer assets | Variable Interest Entity, Primary Beneficiary [Member] | Consolidated VIEs [Member] | ||||
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, Primary Beneficiary [Member] | Consolidated VIEs [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Total assets | [1] | 1,988 | 1,996 | |
Total Liabilities | [1] | 0 | 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, Primary Beneficiary [Member] | Consolidated VIEs [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Total assets | [1] | 60,762 | 63,935 | |
Total Liabilities | [1] | 12,576 | 12,977 | |
Assets which are pledged as collateral | [2] | 16,241 | 17,923 | |
Commitments | [3] | 0 | 3,720 | |
Corporate rehabilitation support business | Variable Interest Entity, Primary Beneficiary [Member] | Consolidated VIEs [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Total assets | [1] | 214 | 431 | |
Total Liabilities | [1] | 5 | 158 | |
Assets which are pledged as collateral | [2] | 0 | 0 | |
Commitments | [3] | 0 | 0 | |
Investment in securities | Variable Interest Entity, Primary Beneficiary [Member] | Consolidated VIEs [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Total assets | [1] | 132,805 | 104,364 | |
Total Liabilities | [1] | 302 | 316 | |
Assets which are pledged as collateral | [2] | 0 | 35 | |
Commitments | [3] | 45,241 | 25,299 | |
Securitizing financial assets such as finance lease receivable and loan receivable | Variable Interest Entity, Primary Beneficiary [Member] | Consolidated VIEs [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Total assets | [1] | 223,807 | 266,662 | |
Total Liabilities | [1] | 160,434 | 158,620 | |
Assets which are pledged as collateral | [2] | 223,807 | 266,662 | |
Commitments | [3] | 0 | 828 | |
Securitization of loan receivable originated by third parties | Variable Interest Entity, Primary Beneficiary [Member] | Consolidated VIEs [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Total assets | [1] | 542 | 511 | |
Total Liabilities | [1] | 1,093 | 992 | |
Assets which are pledged as collateral | [2] | 542 | 511 | |
Commitments | [3] | 0 | 0 | |
Power generation projects | Variable Interest Entity, Primary Beneficiary [Member] | Consolidated VIEs [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Total assets | [1] | 278,660 | 304,064 | |
Total Liabilities | [1] | 219,476 | 226,224 | |
Assets which are pledged as collateral | [2] | 260,551 | 285,149 | |
Commitments | [3] | 42,742 | 35,194 | |
Other VIEs | Variable Interest Entity, Primary Beneficiary [Member] | Consolidated VIEs [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Total assets | [1] | 199,186 | 171,344 | |
Total Liabilities | [1] | 89,672 | 67,346 | |
Assets which are pledged as collateral | [2] | 174,807 | 144,260 | |
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 | Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Variable Interest Entity [Line Items] | ||||
Total assets | ¥ 14,270,672 | ¥ 13,563,082 | ¥ 13,067,528 | |
Non Consolidated VIEs [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Non-recourse loans | 11,679 | 11,005 | ||
Investments | 119,916 | 91,506 | ||
Maximum exposure to loss | [1] | 191,586 | 121,303 | |
Non Consolidated VIEs [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Total assets | 9,617,334 | 6,320,128 | ||
Liquidating Customer Assets | Non Consolidated VIEs [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Non-recourse loans | 405 | 1,255 | ||
Investments | 991 | 991 | ||
Maximum exposure to loss | [1] | 1,396 | 2,246 | |
Liquidating Customer Assets | Non Consolidated VIEs [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Total assets | 13,391 | 27,273 | ||
Acquisition Of Real Estate And Real Estate Development Projects For Customers | Non Consolidated VIEs [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Non-recourse loans | 8,134 | 6,905 | ||
Investments | 9,119 | 4,884 | ||
Maximum exposure to loss | [1] | 18,735 | 11,789 | |
Acquisition Of Real Estate And Real Estate Development Projects For Customers | Non Consolidated VIEs [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Total assets | 546,953 | 317,027 | ||
Acquisition of real estate for the Company and its subsidiaries' real estate-related business | Non Consolidated VIEs [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Non-recourse loans | 0 | 0 | ||
Investments | 0 | 0 | ||
Maximum exposure to loss | [1] | 0 | 0 | |
Acquisition of real estate for the Company and its subsidiaries' real estate-related business | Non Consolidated VIEs [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Total assets | 0 | 0 | ||
Corporate Rehabilitation Support Business | Non Consolidated VIEs [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Non-recourse loans | 0 | 0 | ||
Investments | 0 | 0 | ||
Maximum exposure to loss | [1] | 0 | 0 | |
Corporate Rehabilitation Support Business | Non Consolidated VIEs [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Total assets | 0 | 0 | ||
Investment in securities | Non Consolidated VIEs [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Non-recourse loans | 0 | 0 | ||
Investments | 79,050 | 56,818 | ||
Maximum exposure to loss | [1] | 123,674 | 75,607 | |
Investment in securities | Non Consolidated VIEs [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Total assets | 6,901,686 | 4,108,847 | ||
Securitizing Financial Assets | Non Consolidated VIEs [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Non-recourse loans | 0 | 0 | ||
Investments | 2 | 2 | ||
Maximum exposure to loss | [1] | 2 | 2 | |
Securitizing Financial Assets | Non Consolidated VIEs [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Total assets | 154 | 709 | ||
Securitization Of Loans Receivable Originated By Third Parties | Non Consolidated VIEs [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Non-recourse loans | 0 | 0 | ||
Investments | 15,254 | 18,268 | ||
Maximum exposure to loss | [1] | 15,254 | 18,271 | |
Securitization Of Loans Receivable Originated By Third Parties | Non Consolidated VIEs [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Total assets | 1,231,246 | 1,485,653 | ||
Power Generation Projects | Non Consolidated VIEs [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Non-recourse loans | 0 | 0 | ||
Investments | 402 | 442 | ||
Maximum exposure to loss | [1] | 402 | 442 | |
Power Generation Projects | Non Consolidated VIEs [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Total assets | 9,103 | 10,103 | ||
Other VIEs | Non Consolidated VIEs [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Non-recourse loans | 3,140 | 2,845 | ||
Investments | 15,098 | 10,101 | ||
Maximum exposure to loss | [1] | 32,123 | 12,946 | |
Other VIEs | Non Consolidated VIEs [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | ||||
Variable Interest Entity [Line Items] | ||||
Total assets | ¥ 914,801 | ¥ 370,516 | ||
[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 | Mar. 31, 2022 | Mar. 31, 2021 |
Investments in and Advances to Affiliates, Schedule of Investments [Abstract] | ||
Shares | ¥ 943,090 | ¥ 853,937 |
Loans and others | 34,943 | 33,827 |
Investment in Affiliates | ¥ 978,033 | ¥ 887,764 |
Investment in Affiliates - Addi
Investment in Affiliates - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Schedule of Equity Method Investments [Line Items] | |||
Investment in affiliates, aggregate investment | ¥ 166,492 | ¥ 136,755 | |
Investment in affiliates, market value | 223,834 | 169,928 | |
Investment in affiliates, dividends received | 17,759 | 15,416 | ¥ 38,372 |
Investment in affiliates over underlying equity in net assets | ¥ 135,897 | ¥ 131,600 | |
Avolon Holdings | |||
Schedule of Equity Method Investments [Line Items] | |||
Equity method investment, ownership percentage | 30% | 30% | |
Kansai Airports | |||
Schedule of Equity Method Investments [Line Items] | |||
Equity method investment, ownership percentage | 40% | 40% |
Investment in Affiliates (Combi
Investment in Affiliates (Combined and Condensed Information Related to Affiliates) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Operations: | |||
Total revenues | ¥ 2,520,365 | ¥ 2,292,708 | ¥ 2,280,329 |
Financial position: | |||
Total assets | 14,270,672 | 13,563,082 | 13,067,528 |
Total Liabilities | 10,899,271 | 10,459,938 | |
Total equity | 3,261,419 | 3,028,456 | |
Equity Method Investment, Nonconsolidated Investee, Other [Member] | |||
Operations: | |||
Total revenues | 1,194,172 | 1,155,974 | 1,674,184 |
Income before income taxes | 108,065 | 85,667 | 206,637 |
Net income | 88,572 | 74,008 | 140,540 |
Financial position: | |||
Total assets | 14,974,191 | 12,858,129 | 12,499,794 |
Total Liabilities | 10,729,973 | 9,203,980 | 8,428,007 |
Total equity | ¥ 4,244,218 | ¥ 3,654,149 | ¥ 4,071,787 |
Goodwill and Other Intangible_3
Goodwill and Other Intangible Assets (Changes in Goodwill by Reportable Segment) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | ||
Goodwill [Line Items] | |||||
Acquired | ¥ 49,393 | ¥ 59,186 | ¥ 46,522 | ||
Impairment | (562) | (1,506) | 0 | ||
Other (net) | [1] | (55,251) | (6,222) | (33,383) | |
Goodwill, Gross | 495,172 | 501,030 | 448,066 | ¥ 434,927 | |
Accumulated impairment losses | (6,316) | (5,754) | (4,248) | (4,248) | |
Goodwill | 488,856 | 495,276 | 443,818 | 430,679 | |
Corporate Financial Services and Maintenance Leasing | |||||
Goodwill [Line Items] | |||||
Acquired | 0 | 478 | 1,299 | ||
Impairment | 0 | (12) | 0 | ||
Other (net) | [1] | (54,925) | 7 | 0 | |
Goodwill, Gross | 12,425 | 67,350 | 66,865 | 65,566 | |
Accumulated impairment losses | (849) | (849) | (837) | (837) | |
Goodwill | 11,576 | 66,501 | 66,028 | 64,729 | |
Real Estate Segment | |||||
Goodwill [Line Items] | |||||
Acquired | 0 | 0 | 0 | ||
Impairment | (191) | 0 | 0 | ||
Other (net) | [1] | 0 | 0 | (111) | |
Goodwill, Gross | 16,359 | 16,359 | 16,359 | 16,470 | |
Accumulated impairment losses | (191) | 0 | 0 | 0 | |
Goodwill | 16,168 | 16,359 | 16,359 | 16,470 | |
PE Investment and Concession | |||||
Goodwill [Line Items] | |||||
Acquired | 0 | 47,011 | 22,772 | ||
Impairment | 0 | 0 | 0 | ||
Other (net) | [1] | (22,526) | (14,002) | (22,172) | |
Goodwill, Gross | 99,938 | 122,464 | 89,455 | 88,855 | |
Accumulated impairment losses | 0 | 0 | 0 | 0 | |
Goodwill | 99,938 | 122,464 | 89,455 | 88,855 | |
Environment and Energy | |||||
Goodwill [Line Items] | |||||
Acquired | 49,115 | 0 | 3,933 | ||
Impairment | 0 | 0 | 0 | ||
Other (net) | [1] | 357 | (3,933) | 0 | |
Goodwill, Gross | 49,655 | 183 | 4,116 | 183 | |
Accumulated impairment losses | (39) | (39) | (39) | (39) | |
Goodwill | 49,616 | 144 | 4,077 | 144 | |
Insurance | |||||
Goodwill [Line Items] | |||||
Acquired | 0 | 0 | 672 | ||
Impairment | (371) | 0 | 0 | ||
Other (net) | [1] | 0 | (109) | 0 | |
Goodwill, Gross | 5,015 | 5,015 | 5,124 | 4,452 | |
Accumulated impairment losses | (371) | 0 | 0 | 0 | |
Goodwill | 4,644 | 5,015 | 5,124 | 4,452 | |
Banking and Credit | |||||
Goodwill [Line Items] | |||||
Acquired | 0 | 0 | 0 | ||
Impairment | 0 | 0 | 0 | ||
Other (net) | [1] | 0 | 0 | 0 | |
Goodwill, Gross | 10,971 | 10,971 | 10,971 | 10,971 | |
Accumulated impairment losses | 0 | 0 | 0 | 0 | |
Goodwill | 10,971 | 10,971 | 10,971 | 10,971 | |
Aircraft and Ships | |||||
Goodwill [Line Items] | |||||
Acquired | 0 | 0 | 0 | ||
Impairment | 0 | 0 | 0 | ||
Other (net) | [1] | 0 | 0 | 0 | |
Goodwill, Gross | 587 | 587 | 587 | 587 | |
Accumulated impairment losses | (587) | (587) | (587) | (587) | |
Goodwill | 0 | 0 | 0 | 0 | |
ORIX USA | |||||
Goodwill [Line Items] | |||||
Acquired | 0 | 0 | 17,846 | ||
Impairment | 0 | (1,494) | 0 | ||
Other (net) | [1] | 12,682 | 566 | (2,401) | |
Goodwill, Gross | 142,494 | 129,812 | 129,246 | 113,801 | |
Accumulated impairment losses | (1,494) | (1,494) | 0 | 0 | |
Goodwill | 141,000 | 128,318 | 129,246 | 113,801 | |
ORIX Europe | |||||
Goodwill [Line Items] | |||||
Acquired | 0 | 11,697 | 0 | ||
Impairment | 0 | 0 | 0 | ||
Other (net) | [1] | 8,773 | 10,847 | (8,178) | |
Goodwill, Gross | 149,270 | 140,497 | 117,953 | 126,131 | |
Accumulated impairment losses | 0 | 0 | 0 | 0 | |
Goodwill | 149,270 | 140,497 | 117,953 | 126,131 | |
Asia and Australia | |||||
Goodwill [Line Items] | |||||
Acquired | 0 | 0 | 0 | ||
Impairment | 0 | 0 | 0 | ||
Other (net) | [1] | 388 | 402 | (521) | |
Goodwill, Gross | 8,180 | 7,792 | 7,390 | 7,911 | |
Accumulated impairment losses | (2,785) | (2,785) | (2,785) | (2,785) | |
Goodwill | 5,395 | 5,007 | 4,605 | 5,126 | |
Corporate | |||||
Goodwill [Line Items] | |||||
Acquired | 278 | 0 | 0 | ||
Impairment | 0 | 0 | 0 | ||
Other (net) | [1] | 0 | 0 | 0 | |
Goodwill, Gross | 278 | 0 | 0 | 0 | |
Accumulated impairment losses | 0 | 0 | 0 | 0 | |
Goodwill | ¥ 278 | ¥ 0 | ¥ 0 | ¥ 0 | |
[1]Other includes foreign currency translation adjustments, decreases due to sale of ownership interest in subsidiaries and certain other reclassifications. |
Goodwill and Other Intangible_4
Goodwill and Other Intangible Assets - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Intangible Assets by Major Class [Line Items] | |||
Impairment losses on goodwill | ¥ 562 | ¥ 1,506 | ¥ 0 |
Aggregate amortization expenses for intangible assets | 32,235 | 28,748 | 32,189 |
Estimated amortization expenses in fiscal 2023 | 33,959 | ||
Estimated amortization expenses in fiscal 2024 | 30,205 | ||
Estimated amortization expenses in fiscal 2025 | 27,181 | ||
Estimated amortization expenses in fiscal 2026 | 23,182 | ||
Estimated amortization expenses in fiscal 2027 | 19,565 | ||
Intangible assets subject to amortization acquired | 154,949 | ||
Corporate Financial Services And Leasing | |||
Intangible Assets by Major Class [Line Items] | |||
Impairment losses on goodwill | 12 | ||
Impairment of intangible assets excluding goodwill | 650 | 2 | 329 |
Real Estate Segment | |||
Intangible Assets by Major Class [Line Items] | |||
Impairment losses on goodwill | 191 | 0 | 0 |
Impairment of intangible assets excluding goodwill | 217 | ||
PE Investment And Concession Segment | |||
Intangible Assets by Major Class [Line Items] | |||
Impairment of intangible assets excluding goodwill | 4 | ||
ORIX USA | |||
Intangible Assets by Major Class [Line Items] | |||
Impairment losses on goodwill | 0 | 1,494 | 0 |
Impairment of intangible assets excluding goodwill | 414 | ||
Environment and energy services | |||
Intangible Assets by Major Class [Line Items] | |||
Impairment losses on goodwill | 0 | 0 | 0 |
Impairment of intangible assets excluding goodwill | 2 | ||
Aircraft and Ships | |||
Intangible Assets by Major Class [Line Items] | |||
Impairment losses on goodwill | 0 | 0 | 0 |
Impairment of intangible assets excluding goodwill | 259 | 505 | |
Insurance [Member] | |||
Intangible Assets by Major Class [Line Items] | |||
Impairment losses on goodwill | 371 | 0 | 0 |
Impairment of intangible assets excluding goodwill | 2 | ||
ORIX Europe [Member] | |||
Intangible Assets by Major Class [Line Items] | |||
Impairment losses on goodwill | 0 | ¥ 0 | ¥ 0 |
Impairment of intangible assets excluding goodwill | 21,090 | ||
Software | |||
Intangible Assets by Major Class [Line Items] | |||
Intangible assets subject to amortization acquired | ¥ 13,345 | ||
Weighted average amortization period | 8 years | ||
Customer relationships and others | |||
Intangible Assets by Major Class [Line Items] | |||
Intangible assets subject to amortization acquired | ¥ 40,583 | ||
Weighted average amortization period | 24 years | ||
Asset management contracts | |||
Intangible Assets by Major Class [Line Items] | |||
Intangible assets subject to amortization acquired | ¥ 98,014 | ||
Weighted average amortization period | 20 years |
Goodwill and Other Intangible_5
Goodwill and Other Intangible Assets (Other Intangible Assets) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2022 | Mar. 31, 2021 |
Indefinite-lived intangible assets: | ||
Trade names | ¥ 44,975 | ¥ 67,888 |
Asset management contracts | 48,533 | 161,081 |
Others | 12,126 | 5,312 |
Indefinite-Lived Intangible Assets (Excluding Goodwill), Total | 105,634 | 234,281 |
Intangible assets subject to amortization: | ||
Software | 130,118 | 129,695 |
Customer relationships | 143,963 | 155,807 |
Asset management contracts | 98,014 | 0 |
Others | 123,397 | 90,354 |
Finite-Lived Intangible Assets, Gross, Total | 495,492 | 375,856 |
Accumulated amortization | (197,505) | (184,589) |
Net | 297,987 | 191,267 |
Intangible Assets, Net (Excluding Goodwill), Total | ¥ 403,621 | ¥ 425,548 |
Short-Term and Long-Term Debt_2
Short-Term and Long-Term Debt (Composition of Short-Term Debt and Weighted Average Contract Interest Rate on Short-Term Debt) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2022 | Mar. 31, 2021 |
Short-term Debt [Line Items] | ||
Short-term debt | ¥ 439,639 | ¥ 307,269 |
Weighted average rate | 1.40% | 1.40% |
Japan | Bank Borrowings | ||
Short-term Debt [Line Items] | ||
Short-term debt | ¥ 161,799 | ¥ 81,726 |
Weighted average rate | 0.70% | 0.30% |
Japan | Commercial Paper | ||
Short-term Debt [Line Items] | ||
Short-term debt | ¥ 37,999 | ¥ 12,999 |
Weighted average rate | 0% | 0% |
Overseas | Bank Borrowings | ||
Short-term Debt [Line Items] | ||
Short-term debt | ¥ 237,790 | ¥ 209,852 |
Weighted average rate | 2.10% | 1.90% |
Overseas | Medium-term Notes | ||
Short-term Debt [Line Items] | ||
Short-term debt | ¥ 1,336 | |
Weighted average rate | 3% | |
Overseas | Commercial Paper | ||
Short-term Debt [Line Items] | ||
Short-term debt | ¥ 2,051 | ¥ 1,356 |
Weighted average rate | 1% | 1% |
Short-Term and Long-Term Debt_3
Short-Term and Long-Term Debt (Composition of Long-Term Debt, Weighted Average Contract Interest Rate on Long-Term Debt and Repayment Due Dates) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Debt Instrument [Line Items] | ||
Long-term Debt | ¥ 4,427,046 | ¥ 4,416,833 |
Weighted average rate | 1.30% | 1.10% |
Fixed rate, Banks | ||
Debt Instrument [Line Items] | ||
Long-term Debt | ¥ 545,320 | ¥ 519,858 |
Weighted average rate | 1.30% | 1.20% |
Minimum maturity date | 2023 | 2022 |
Maximum maturity date | 2082 | 2037 |
Floating rate, Banks | ||
Debt Instrument [Line Items] | ||
Long-term Debt | ¥ 2,076,802 | ¥ 2,038,098 |
Weighted average rate | 1.10% | 0.80% |
Minimum maturity date | 2023 | 2022 |
Maximum maturity date | 2077 | 2077 |
Fixed rate, Insurance companies and others | ||
Debt Instrument [Line Items] | ||
Long-term Debt | ¥ 322,411 | ¥ 328,790 |
Weighted average rate | 0.80% | 0.80% |
Minimum maturity date | 2023 | 2023 |
Maximum maturity date | 2082 | 2039 |
Floating rate, Insurance companies and others | ||
Debt Instrument [Line Items] | ||
Long-term Debt | ¥ 296,230 | ¥ 302,337 |
Weighted average rate | 0.80% | 0.60% |
Minimum maturity date | 2023 | 2023 |
Maximum maturity date | 2077 | 2077 |
Unsecured bonds | ||
Debt Instrument [Line Items] | ||
Long-term Debt | ¥ 997,654 | ¥ 927,088 |
Weighted average rate | 1.60% | 1.50% |
Minimum maturity date | 2024 | 2023 |
Maximum maturity date | 2081 | 2081 |
Unsecured notes under medium-term note program | ||
Debt Instrument [Line Items] | ||
Long-term Debt | ¥ 32,279 | ¥ 141,296 |
Weighted average rate | 4.10% | 3.10% |
Minimum maturity date | 2023 | 2023 |
Maximum maturity date | 2027 | 2027 |
Payables under securitized loan receivables and investment in securities | ||
Debt Instrument [Line Items] | ||
Long-term Debt | ¥ 156,350 | ¥ 159,366 |
Weighted average rate | 3.10% | 3.20% |
Minimum maturity date | 2033 | 2022 |
Maximum maturity date | 2043 | 2043 |
Short-Term and Long-Term Debt_4
Short-Term and Long-Term Debt (Repayment Schedule for Next Five Years and Thereafter for Long-Term Debt) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2022 | Mar. 31, 2021 |
Debt Disclosure [Abstract] | ||
2023 | ¥ 752,828 | |
2024 | 764,765 | |
2025 | 610,035 | |
2026 | 439,680 | |
2027 | 469,840 | |
Thereafter | 1,389,898 | |
Total | ¥ 4,427,046 | ¥ 4,416,833 |
Short-Term and Long-Term Debt -
Short-Term and Long-Term Debt - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Debt Instrument [Line Items] | |||
Borrowings | ¥ 4,427,046 | ¥ 4,416,833 | |
Net amortization expenses of bond premiums and discounts, deferred issuance costs of bonds and medium-term notes | 1,013 | 1,010 | ¥ 989 |
Total committed credit lines | 651,379 | 612,737 | |
Available credit lines | 507,181 | 524,451 | |
Long-term committed credit lines | 442,547 | 465,104 | |
Investment in securities pledged for primarily collateral deposits | 147,428 | ||
Loans and leases consolidation adjustment | 10,531 | ||
Subordinated Syndicated Loan | Loan Maturing in 5 Year | |||
Debt Instrument [Line Items] | |||
Borrowings | ¥ 10,000 | ||
Maturity year of loan | 2082 | ||
Subordinated Syndicated Loan | Loan Maturing in 7 Year | |||
Debt Instrument [Line Items] | |||
Borrowings | ¥ 34,000 | ||
Maturity year of loan | 2077 | ||
Secured By Share | |||
Debt Instrument [Line Items] | |||
Secured debt | ¥ 38,399 | ||
Secured Investments | |||
Debt Instrument [Line Items] | |||
Secured debt | 74,334 | ||
Unsecured Subordinated Debt | |||
Debt Instrument [Line Items] | |||
Borrowings | ¥ 150,000 | ||
Unsecured subordinated bonds face value | ¥ 100,000 | ||
Unsecured subordinated bonds year of maturity | 2080 | ||
Unsecured Subordinated Debt | Premature Redemption Period 5 Years | |||
Debt Instrument [Line Items] | |||
Unsecured subordinated bonds face value | ¥ 60,000 | ||
Unsecured subordinated bonds premature redemption period | 5 years | ||
Unsecured Subordinated Debt | Premature Redemption Period 10 Years | |||
Debt Instrument [Line Items] | |||
Unsecured subordinated bonds face value | ¥ 40,000 | ||
Unsecured subordinated bonds premature redemption period | 10 years | ||
Unsecured Subordinated Debt One | |||
Debt Instrument [Line Items] | |||
Unsecured subordinated bonds face value | ¥ 50,000 | ||
Unsecured subordinated bonds year of maturity | 2081 | ||
Unsecured Subordinated Debt One | Premature Redemption Period 5 Years | |||
Debt Instrument [Line Items] | |||
Unsecured subordinated bonds face value | ¥ 29,000 | ||
Unsecured subordinated bonds premature redemption period | 5 years | ||
Unsecured Subordinated Debt One | Premature Redemption Period 10 Years | |||
Debt Instrument [Line Items] | |||
Unsecured subordinated bonds face value | ¥ 21,000 | ||
Unsecured subordinated bonds premature redemption period | 10 years |
Short-Term and Long-Term Debt_5
Short-Term and Long-Term Debt (Assets Provided as Collateral for Short-Term and Long-Term Debt Payables to Financial Institutions) (Detail) ¥ in Millions | Mar. 31, 2022 JPY (¥) |
Debt Disclosure [Abstract] | |
Lease payments, loans and investment in operating leases | ¥ 106,699 |
Investment in securities | 175,912 |
Property under facility operations | 112,730 |
Other assets and other | 27,784 |
Total | ¥ 423,125 |
Deposits (Summary of Deposits)
Deposits (Summary of Deposits) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2022 | Mar. 31, 2021 |
Deposits [Abstract] | ||
Time deposits | ¥ 1,876,129 | ¥ 1,860,253 |
Other deposits | 400,029 | 457,532 |
Total | ¥ 2,276,158 | ¥ 2,317,785 |
Deposits - Additional Informati
Deposits - Additional Information (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2022 | Mar. 31, 2021 |
Deposits [Abstract] | ||
Time deposits, including certificates of deposit issued in amounts of 10 million Yen or more | ¥ 920,545 | ¥ 1,012,834 |
Deposits (Maturity Schedule of
Deposits (Maturity Schedule of Time Deposits) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2022 | Mar. 31, 2021 |
Deposits [Abstract] | ||
2023 | ¥ 739,960 | |
2024 | 392,234 | |
2025 | 382,672 | |
2026 | 245,264 | |
2027 | 101,973 | |
Thereafter | 14,026 | |
Total | ¥ 1,876,129 | ¥ 1,860,253 |
Income Taxes (Income before Inc
Income Taxes (Income before Income Taxes and Provision for Income Taxes) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Income Taxes [Line Items] | |||
Income before Income Taxes, Japan | ¥ 311,351 | ¥ 171,569 | ¥ 223,327 |
Income before Income Taxes, Overseas | 193,525 | 115,992 | 189,234 |
Income before Income Taxes | 504,876 | 287,561 | 412,561 |
Current provision for income taxes | 175,056 | 65,229 | 90,947 |
Deferred provision for income taxes | 12,208 | 25,518 | 14,890 |
Provision for income taxes | 187,264 | 90,747 | 105,837 |
Japan | |||
Income Taxes [Line Items] | |||
Current provision for income taxes | 136,623 | 45,262 | 55,577 |
Deferred provision for income taxes | (631) | 10,642 | 9,643 |
Overseas | |||
Income Taxes [Line Items] | |||
Current provision for income taxes | 38,433 | 19,967 | 35,370 |
Deferred provision for income taxes | ¥ 12,839 | ¥ 14,876 | ¥ 5,247 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Income Tax Disclosure [Abstract] | |||
National corporation tax | 24% | 24% | 24% |
Inhabitant tax | 4% | 4% | 4% |
Deductible enterprise tax | 4% | 4% | 4% |
Statutory income tax rate | 31.50% | 31.50% | 31.50% |
Net changes in total valuation allowance | ¥ 13,595 | ¥ 6,191 | ¥ 2,213 |
Decrease in total valuation allowance recognized in earnings due to the utilization of net operating loss carryforwards | 1,742 | 553 | 890 |
Increase in valuation allowance | 1,947 | 1,032 | 942 |
Decrease in valuation allowance | 1,511 | 1,775 | 1,518 |
Net changes in valuation allowance | 436 | ¥ 743 | ¥ 576 |
Net operating loss carryforwards | ¥ 278,571 |
Income Taxes (Reconciliations o
Income Taxes (Reconciliations of Differences between Tax Provision Computed at Statutory Rate and Consolidated Provision for Income Taxes) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Income Tax Disclosure [Abstract] | |||
Income before income taxes | ¥ 504,876 | ¥ 287,561 | ¥ 412,561 |
Tax provision computed at the statutory rate | 159,036 | 90,582 | 129,957 |
Increases (reductions) in taxes due to: | |||
Change in valuation allowance | 11,464 | 6,808 | 2,505 |
Nondeductible expenses | 4,066 | 2,751 | 4,319 |
Nontaxable income | (2,611) | (1,629) | (3,612) |
Effect of lower tax rates on certain subsidiaries | (16,584) | (12,895) | (24,862) |
Effect of investor taxes on earnings of subsidiaries | 8,155 | 4,590 | 3,039 |
Effect of the tax law and rate changes | (142) | 1,158 | (6,642) |
Effect of sale or liquidation of subsidiaries | 25,642 | 878 | 307 |
Other, net | (1,762) | (1,496) | 826 |
Provision for income taxes | ¥ 187,264 | ¥ 90,747 | ¥ 105,837 |
Income Taxes (Total Income Tax
Income Taxes (Total Income Tax Expense Recognized) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | ||
Income Tax Disclosure [Abstract] | ||||
Provision for income taxes | ¥ 187,264 | ¥ 90,747 | ¥ 105,837 | |
Income tax expense (benefit) allocated to other comprehensive income (loss): | ||||
Net change of unrealized gains (losses) on investment in securities | (21,897) | (6,212) | (7,016) | |
Net change of debt valuation adjustments | (131) | (349) | 340 | |
Net change of defined benefit pension plans | 4,889 | 2,615 | 448 | |
Net change of foreign currency translation adjustments | (17,347) | (13,958) | 10,276 | |
Net change of unrealized gains (losses) on derivative instruments | 4,734 | 1,883 | (2,163) | |
Adjustments to retained earnings for changes in accounting principles | [1] | (215) | (17,113) | 0 |
Other direct adjustments to shareholders' equity | 214 | 1,521 | 0 | |
Total income tax expense | ¥ 157,511 | ¥ 59,134 | ¥ 107,722 | |
[1]The amount for fiscal 2021 reflects the tax effect of the adoption of Accounting Standards Update 2016-13 (“Measurement of Credit Losses on Financial Instruments”—ASC 326 (“Financial Instruments—Credit Losses”)). The amount for fiscal 2022 reflects the tax effect of the adoption of Accounting Standards Update 2019-12 (“Simplifying the Accounting for Income Taxes”—ASC 740 (“Income Taxes”)). For further information about Income Taxes, see Note 1 “Significant Accounting and Reporting Policies (aa) New accounting pronouncements.” |
Income Taxes (Tax Effects of Te
Income Taxes (Tax Effects of Temporary Differences and Carryforwards Giving Rise to Deferred Tax Assets and Liabilities) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2022 | Mar. 31, 2021 |
Assets: | ||
Net operating loss carryforwards | ¥ 32,914 | ¥ 25,083 |
Allowance for credit losses | 23,381 | 25,322 |
Investment in securities | 6,685 | 9,983 |
Accrued expenses | 23,900 | 24,393 |
Investment in operating leases | 15,099 | 12,911 |
Property under facility operations | 27,358 | 8,480 |
Installment loans | 4,361 | 4,392 |
Unrealized losses on investment in securities | 29,372 | 7,859 |
Lease liabilities | 77,367 | 85,422 |
Other | 91,837 | 61,002 |
Deferred Tax Assets, Gross, Total | 332,274 | 264,847 |
Less: valuation allowance | (35,155) | (21,560) |
Deferred Tax Assets, Net of Valuation Allowance, Total | 297,119 | 243,287 |
Liabilities: | ||
Net investment in Leases | 13,501 | 9,705 |
Investment in operating leases | 121,337 | 111,102 |
Unrealized gains on investment in securities | 2,505 | 2,502 |
Deferred insurance policy acquisition costs | 73,077 | 69,249 |
Policy liabilities and policy account balances | 74,939 | 62,274 |
Property under facility operations | 21,931 | 10,183 |
Other intangible assets | 108,257 | 112,234 |
Undistributed earnings | 59,134 | 38,408 |
Prepaid benefit cost | 14,483 | 12,187 |
Advances paid | 8,647 | 11,742 |
Right-of-use assets | 77,003 | 86,064 |
Other | 22,081 | 19,973 |
Deferred Tax Liabilities, Net, Total | 596,895 | 545,623 |
Net deferred tax liability | ¥ 299,776 | ¥ 302,336 |
Income Taxes (Captions of Net D
Income Taxes (Captions of Net Deferred Tax Assets and Liabilities Reflected in Consolidated Balance Sheets) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2022 | Mar. 31, 2021 |
Income Tax Disclosure [Abstract] | ||
Other assets | ¥ 46,065 | ¥ 38,954 |
Income taxes: Deferred | 345,841 | 341,290 |
Net deferred tax liability | ¥ 299,776 | ¥ 302,336 |
Income Taxes (Expiry Schedule o
Income Taxes (Expiry Schedule of Net Operating Loss Carryforwards) (Detail) ¥ in Millions | Mar. 31, 2022 JPY (¥) |
Income Tax Disclosure [Abstract] | |
2023 | ¥ 8,346 |
2024 | 17,768 |
2025 | 20,038 |
2026 | 24,902 |
2027 | 12,168 |
Thereafter | 145,823 |
Indefinite period | 49,526 |
Total | ¥ 278,571 |
Pension Plans (Funded Status of
Pension Plans (Funded Status of Defined Benefit Pension Plans) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Japan | |||
Change in benefit obligation: | |||
Benefit obligation at beginning of year | ¥ 114,556 | ¥ 110,467 | |
Service cost | 6,058 | 5,831 | ¥ 5,879 |
Interest cost | 791 | 698 | 585 |
Actuarial loss (income) | (3,977) | (1,550) | |
Plan participant's contributions | 0 | 0 | |
Benefits paid | (4,776) | (4,379) | |
Business combinations | 0 | 3,087 | |
Plan amendments | (1,642) | 402 | |
Foreign currency exchange rate change | 0 | 0 | |
Benefit obligation at end of year | 111,010 | 114,556 | 110,467 |
Change in plan assets: | |||
Fair value of plan assets at beginning of year | 134,392 | 122,780 | |
Actual return on plan assets | 2,819 | 11,301 | |
Employer contribution | 3,909 | 3,876 | |
Plan participant's contributions | 0 | 0 | |
Benefits paid | (3,803) | (3,565) | |
Foreign currency exchange rate change | 0 | 0 | |
Fair value of plan assets at end of year | 137,317 | 134,392 | 122,780 |
The funded status of the plans | 26,307 | 19,836 | |
Amount recognized in the consolidated balance sheets consists of: | |||
Prepaid benefit cost included in other assets | 40,118 | 34,940 | |
Accrued benefit liability included in other liabilities | (13,811) | (15,104) | |
Net amount recognized | 26,307 | 19,836 | |
Overseas plans | |||
Change in benefit obligation: | |||
Benefit obligation at beginning of year | 128,573 | 103,616 | |
Service cost | 3,947 | 3,288 | 3,566 |
Interest cost | 1,329 | 1,711 | 1,634 |
Actuarial loss (income) | (18,503) | 12,550 | |
Plan participant's contributions | 295 | 0 | |
Benefits paid | (1,552) | (2,013) | |
Business combinations | 0 | 0 | |
Plan amendments | 254 | 121 | |
Foreign currency exchange rate change | 6,805 | 9,300 | |
Benefit obligation at end of year | 121,148 | 128,573 | 103,616 |
Change in plan assets: | |||
Fair value of plan assets at beginning of year | 119,858 | 96,994 | |
Actual return on plan assets | (836) | 13,913 | |
Employer contribution | 2,530 | 2,027 | |
Plan participant's contributions | 295 | 0 | |
Benefits paid | (1,439) | (1,835) | |
Foreign currency exchange rate change | 6,843 | 8,759 | |
Fair value of plan assets at end of year | 127,251 | 119,858 | ¥ 96,994 |
The funded status of the plans | 6,103 | (8,715) | |
Amount recognized in the consolidated balance sheets consists of: | |||
Prepaid benefit cost included in other assets | 7,753 | 28 | |
Accrued benefit liability included in other liabilities | (1,650) | (8,743) | |
Net amount recognized | ¥ 6,103 | ¥ (8,715) |
Pension Plans (Defined Benefit
Pension Plans (Defined Benefit Plan Amount Recognized in Accumulated Other Comprehensive Income (Loss), Pre-tax) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2022 | Mar. 31, 2021 |
Japan | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Net prior service credit | ¥ 266 | ¥ (35) |
Net actuarial loss | (12,912) | (17,119) |
Net transition obligation | 0 | 0 |
Total recognized in accumulated other comprehensive loss, pre-tax | (12,646) | (17,154) |
Overseas plans | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Net prior service credit | 746 | 1,277 |
Net actuarial loss | (1,432) | (15,344) |
Net transition obligation | 3 | 1 |
Total recognized in accumulated other comprehensive loss, pre-tax | ¥ (683) | ¥ (14,066) |
Pension Plans (Summary of Accum
Pension Plans (Summary of Accumulated Benefit Obligations and Fair Value of Plan Assets for Pension Plans) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2022 | Mar. 31, 2021 |
Japan | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Accumulated benefit obligations | ¥ 13,386 | ¥ 14,396 |
Fair value of plan assets | 0 | 0 |
Overseas plans | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Accumulated benefit obligations | 7,407 | 115,518 |
Fair value of plan assets | ¥ 5,842 | ¥ 113,748 |
Pension Plans (Summary of Proje
Pension Plans (Summary of Projected Benefit Obligations and Fair Value of Plan Assets for Pension Plans) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2022 | Mar. 31, 2021 |
Japan | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Projected benefit obligations | ¥ 13,811 | ¥ 15,104 |
Fair value of plan assets | 0 | 0 |
Overseas plans | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Projected benefit obligations | 8,484 | 123,155 |
Fair value of plan assets | ¥ 6,834 | ¥ 114,412 |
Pension Plans - Additional Info
Pension Plans - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Japan | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Accumulated benefit obligations for all defined benefit pension plans | ¥ 99,161 | ¥ 102,148 | |
Expected pension plans contribution by Company and certain subsidiaries in 2023 | 3,897 | ||
Cost recognized for defined contribution pension plans of Company and certain of its subsidiaries | ¥ 1,997 | ¥ 1,873 | ¥ 1,779 |
Japan | Equity securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Portfolio of plans | 30% | 30% | |
Japan | Debt Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Portfolio of plans | 50% | 50% | |
Japan | Other Plan Asset | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Portfolio of plans | 20% | 20% | |
Overseas plans | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Accumulated benefit obligations for all defined benefit pension plans | ¥ 114,930 | ¥ 121,459 | |
Other Foreign Benefit Plans | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Expected pension plans contribution by Company and certain subsidiaries in 2023 | 2,663 | ||
Cost recognized for defined contribution pension plans of Company and certain of its subsidiaries | ¥ 2,892 | ¥ 2,446 | ¥ 2,320 |
Other Foreign Benefit Plans | Equity securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Portfolio of plans | 50% | 50% | |
Other Foreign Benefit Plans | Debt Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Portfolio of plans | 50% | 50% |
Pension Plans (Net Pension Cost
Pension Plans (Net Pension Cost of Defined Benefit Plans) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Japan | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | ¥ 6,058 | ¥ 5,831 | ¥ 5,879 |
Interest cost | 791 | 698 | 585 |
Expected return on plan assets | (2,663) | (2,427) | (2,806) |
Amortization of prior service credit | (66) | (178) | (820) |
Amortization of net actuarial loss | 412 | 1,320 | 1,156 |
Net periodic pension cost | 4,532 | 5,244 | 3,994 |
Overseas plans | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | 3,947 | 3,288 | 3,566 |
Interest cost | 1,329 | 1,711 | 1,634 |
Expected return on plan assets | (4,192) | (3,618) | (4,262) |
Amortization of prior service credit | (320) | (269) | (208) |
Amortization of net actuarial loss | 500 | 313 | 739 |
Amortization of transition obligation | 1 | 1 | 1 |
Net periodic pension cost | ¥ 1,265 | ¥ 1,426 | ¥ 1,470 |
Pension Plans (Other Changes in
Pension Plans (Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Loss) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Japan | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Current year actuarial gain (loss) | ¥ 3,795 | ¥ 10,424 | ¥ (1,629) |
Amortization of net actuarial loss | 412 | 1,320 | 1,156 |
Prior service credit due to amendments | 367 | (402) | 0 |
Amortization of prior service credit | (66) | (178) | (820) |
Total recognized in other comprehensive income (loss), pre-tax | 4,508 | 11,164 | (1,293) |
Overseas plans | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Current year actuarial gain (loss) | 13,672 | (2,308) | 1,117 |
Amortization of net actuarial loss | 500 | 313 | 739 |
Prior service credit due to amendments | (255) | (10) | 1,097 |
Amortization of prior service credit | (320) | (269) | (208) |
Amortization of transition obligation | 1 | 1 | 1 |
Foreign currency exchange rate change | (215) | (946) | 524 |
Total recognized in other comprehensive income (loss), pre-tax | ¥ 13,383 | ¥ (3,219) | ¥ 3,270 |
Pension Plans (Significant Assu
Pension Plans (Significant Assumptions of Japan and Overseas Pension Plans Used to Determine Plan Amounts) (Detail) | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Japan | |||
Weighted-average assumptions used to determine benefit obligations at March 31: | |||
Discount rate | 0.60% | 0.70% | 0.60% |
Rate of increase in compensation levels | 4% | 4% | 4% |
Interest crediting rate for cash balance plans | 1.50% | 1.50% | 1.50% |
Weighted-average assumptions used to determine net periodic pension cost for years ended March 31: | |||
Discount rate | 0.70% | 0.60% | 0.50% |
Rate of increase in compensation levels | 4% | 4% | 4.40% |
Expected long-term rate of return on plan assets | 2% | 2% | 2.20% |
Interest crediting rate for cash balance plans | 1.50% | 1.50% | 1.50% |
Overseas plans | |||
Weighted-average assumptions used to determine benefit obligations at March 31: | |||
Discount rate | 1.70% | 1% | 1.70% |
Rate of increase in compensation levels | 2.20% | 2.20% | 2.20% |
Interest crediting rate for cash balance plans | |||
Weighted-average assumptions used to determine net periodic pension cost for years ended March 31: | |||
Discount rate | 1% | 1.70% | 1.70% |
Rate of increase in compensation levels | 2.20% | 2.20% | 2.40% |
Expected long-term rate of return on plan assets | 3.50% | 3.30% | 3.70% |
Interest crediting rate for cash balance plans |
Pension Plans (Fair Value of Pe
Pension Plans (Fair Value of Pension Plan Assets by Asset Category) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |||
Japan | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of pension plan assets | ¥ 137,317 | ¥ 134,392 | ¥ 122,780 | |||
Japan | Level 1 | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of pension plan assets | 0 | 0 | ||||
Japan | Level 2 | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of pension plan assets | 34,034 | 33,825 | ||||
Japan | Level 3 | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of pension plan assets | 0 | 0 | ||||
Japan | Defined Benefit Plan, Equity Securities | Japan Pooled Funds | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of pension plan assets | 16,002 | [1] | 17,823 | [2] | ||
Japan | Defined Benefit Plan, Equity Securities | Japan Pooled Funds | Level 1 | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of pension plan assets | 0 | [1] | 0 | [2] | ||
Japan | Defined Benefit Plan, Equity Securities | Japan Pooled Funds | Level 2 | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of pension plan assets | 0 | [1] | 0 | [2] | ||
Japan | Defined Benefit Plan, Equity Securities | Japan Pooled Funds | Level 3 | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of pension plan assets | 0 | [1] | 0 | [2] | ||
Japan | Defined Benefit Plan, Equity Securities | Other than Japan Pooled Funds | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of pension plan assets | [3] | 21,366 | 22,231 | |||
Japan | Defined Benefit Plan, Equity Securities | Other than Japan Pooled Funds | Level 1 | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of pension plan assets | [3] | 0 | 0 | |||
Japan | Defined Benefit Plan, Equity Securities | Other than Japan Pooled Funds | Level 2 | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of pension plan assets | [3] | 0 | 0 | |||
Japan | Defined Benefit Plan, Equity Securities | Other than Japan Pooled Funds | Level 3 | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of pension plan assets | [3] | 0 | 0 | |||
Japan | Defined Benefit Plan, Debt Security | Japan Pooled Funds | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of pension plan assets | 27,845 | [4] | 24,127 | [5] | ||
Japan | Defined Benefit Plan, Debt Security | Japan Pooled Funds | Level 1 | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of pension plan assets | 0 | [4] | 0 | [5] | ||
Japan | Defined Benefit Plan, Debt Security | Japan Pooled Funds | Level 2 | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of pension plan assets | 0 | [4] | 0 | [5] | ||
Japan | Defined Benefit Plan, Debt Security | Japan Pooled Funds | Level 3 | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of pension plan assets | 0 | [4] | 0 | [5] | ||
Japan | Defined Benefit Plan, Debt Security | Other than Japan Pooled Funds | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of pension plan assets | [6] | 38,070 | 36,386 | |||
Japan | Defined Benefit Plan, Debt Security | Other than Japan Pooled Funds | Level 1 | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of pension plan assets | [6] | 0 | 0 | |||
Japan | Defined Benefit Plan, Debt Security | Other than Japan Pooled Funds | Level 2 | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of pension plan assets | [6] | 0 | 0 | |||
Japan | Defined Benefit Plan, Debt Security | Other than Japan Pooled Funds | Level 3 | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of pension plan assets | [6] | 0 | 0 | |||
Japan | Other Plan Asset | Life Insurance Company General Accounts | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of pension plan assets | [7] | 29,462 | 28,977 | |||
Japan | Other Plan Asset | Life Insurance Company General Accounts | Level 1 | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of pension plan assets | [7] | 0 | 0 | |||
Japan | Other Plan Asset | Life Insurance Company General Accounts | Level 2 | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of pension plan assets | [7] | 29,462 | 28,977 | |||
Japan | Other Plan Asset | Life Insurance Company General Accounts | Level 3 | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of pension plan assets | [7] | 0 | 0 | |||
Japan | Other Plan Asset | Other Investment | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of pension plan assets | [8] | 4,572 | 4,848 | |||
Japan | Other Plan Asset | Other Investment | Level 1 | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of pension plan assets | [8] | 0 | 0 | |||
Japan | Other Plan Asset | Other Investment | Level 2 | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of pension plan assets | [8] | 4,572 | 4,848 | |||
Japan | Other Plan Asset | Other Investment | Level 3 | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of pension plan assets | [8] | 0 | 0 | |||
Overseas plans | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of pension plan assets | 127,251 | 119,858 | ¥ 96,994 | |||
Overseas plans | Level 1 | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of pension plan assets | 115,931 | 110,728 | ||||
Overseas plans | Level 2 | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of pension plan assets | 10,289 | 8,513 | ||||
Overseas plans | Level 3 | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of pension plan assets | 0 | 0 | ||||
Overseas plans | Defined Benefit Plan, Equity Securities | Other than Japan Shares | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of pension plan assets | 59,932 | 58,483 | ||||
Overseas plans | Defined Benefit Plan, Equity Securities | Other than Japan Shares | Level 1 | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of pension plan assets | 59,932 | 58,483 | ||||
Overseas plans | Defined Benefit Plan, Equity Securities | Other than Japan Shares | Level 2 | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of pension plan assets | 0 | 0 | ||||
Overseas plans | Defined Benefit Plan, Equity Securities | Other than Japan Shares | Level 3 | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of pension plan assets | 0 | 0 | ||||
Overseas plans | Defined Benefit Plan, Equity Securities | Other than Japan Pooled Funds | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of pension plan assets | [3] | 1,031 | 617 | |||
Overseas plans | Defined Benefit Plan, Equity Securities | Other than Japan Pooled Funds | Level 1 | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of pension plan assets | [3] | 0 | 0 | |||
Overseas plans | Defined Benefit Plan, Equity Securities | Other than Japan Pooled Funds | Level 2 | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of pension plan assets | [3] | 0 | 0 | |||
Overseas plans | Defined Benefit Plan, Equity Securities | Other than Japan Pooled Funds | Level 3 | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of pension plan assets | [3] | 0 | 0 | |||
Overseas plans | Defined Benefit Plan, Debt Security | Other than Japan Government Bonds | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of pension plan assets | 55,999 | 52,245 | ||||
Overseas plans | Defined Benefit Plan, Debt Security | Other than Japan Government Bonds | Level 1 | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of pension plan assets | 55,999 | 52,245 | ||||
Overseas plans | Defined Benefit Plan, Debt Security | Other than Japan Government Bonds | Level 2 | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of pension plan assets | 0 | 0 | ||||
Overseas plans | Defined Benefit Plan, Debt Security | Other than Japan Government Bonds | Level 3 | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of pension plan assets | 0 | 0 | ||||
Overseas plans | Defined Benefit Plan, Debt Security | Other than Japan Municipal Bonds | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of pension plan assets | 4,411 | 4,589 | ||||
Overseas plans | Defined Benefit Plan, Debt Security | Other than Japan Municipal Bonds | Level 1 | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of pension plan assets | 0 | 0 | ||||
Overseas plans | Defined Benefit Plan, Debt Security | Other than Japan Municipal Bonds | Level 2 | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of pension plan assets | 4,411 | 4,589 | ||||
Overseas plans | Defined Benefit Plan, Debt Security | Other than Japan Municipal Bonds | Level 3 | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of pension plan assets | 0 | 0 | ||||
Overseas plans | Other Plan Asset | Life Insurance Company General Accounts | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of pension plan assets | [7] | 351 | 325 | |||
Overseas plans | Other Plan Asset | Life Insurance Company General Accounts | Level 1 | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of pension plan assets | [7] | 0 | 0 | |||
Overseas plans | Other Plan Asset | Life Insurance Company General Accounts | Level 2 | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of pension plan assets | [7] | 351 | 325 | |||
Overseas plans | Other Plan Asset | Life Insurance Company General Accounts | Level 3 | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of pension plan assets | [7] | 0 | 0 | |||
Overseas plans | Other Plan Asset | Other Investment | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of pension plan assets | [8] | 5,527 | 3,599 | |||
Overseas plans | Other Plan Asset | Other Investment | Level 1 | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of pension plan assets | [8] | 0 | 0 | |||
Overseas plans | Other Plan Asset | Other Investment | Level 2 | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of pension plan assets | [8] | 5,527 | 3,599 | |||
Overseas plans | Other Plan Asset | Other Investment | Level 3 | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Fair value of pension plan assets | [8] | ¥ 0 | ¥ 0 | |||
[1]These funds invest in listed shares including shares of ORIX Corporation in the amounts of ¥22 million at March 31, 2022.[2]These funds invest in listed shares including shares of ORIX Corporation in the amounts of ¥22 million at March 31, 2021.[3]These funds invest in listed shares.[4]These funds invest approximately 70% in Japanese government bonds, and approximately 30% in Japanese corporate bonds. These funds include corporate bonds of ORIX Corporation in the amounts of ¥37 million at March 31, 2022.[5]These funds invest approximately 70% in Japanese government bonds, approximately 10% in Japanese municipal bonds, and approximately 20% in Japanese corporate bonds. These funds include corporate bonds of ORIX Corporation in the amounts of ¥51 million at March 31, 2021.[6]These funds invest approximately 90% in foreign government bonds and approximately 10% in foreign corporate bonds.[7]Life insurance company general accounts are accounts with guaranteed capital and minimum interest rate, in which life insurance companies manage funds on several contracts.[8]Others include derivative instruments held for hedging change in the fair value of equity securities, and short-term instruments. |
Pension Plans (Fair Value of _2
Pension Plans (Fair Value of Pension Plan Assets by Asset Category) (Parenthetical) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2022 | Mar. 31, 2021 |
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of pension plan assets | ¥ 978,033 | ¥ 887,764 |
Japanese Companies Equity Securities | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of pension plan assets | ¥ 22 | ¥ 22 |
Japanese Government Bond Securities | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Pension plan assets investment allocation in pooled funds | 70% | 70% |
Japanese Municipal Bonds Securities | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Pension plan assets investment allocation in pooled funds | 10% | |
Japanese Corporate Bonds Securities | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Pension plan assets investment allocation in pooled funds | 30% | 20% |
Fair value of pension plan assets | ¥ 37 | ¥ 51 |
Foreign Government Bonds [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Pension plan assets investment allocation in pooled funds | 90% | 90% |
Foreign Corporate Bonds [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Pension plan assets investment allocation in pooled funds | 10% | 10% |
Pension Plans (Benefits Expecte
Pension Plans (Benefits Expected to be Paid) (Detail) ¥ in Millions | Mar. 31, 2022 JPY (¥) |
Japan | |
Defined Benefit Plan Disclosure [Line Items] | |
2023 | ¥ 5,468 |
2024 | 5,375 |
2025 | 5,853 |
2026 | 6,048 |
2027 | 5,738 |
2028-2032 | 30,942 |
Total | 59,424 |
Overseas plans | |
Defined Benefit Plan Disclosure [Line Items] | |
2023 | 1,989 |
2024 | 2,104 |
2025 | 2,051 |
2026 | 2,137 |
2027 | 2,268 |
2028-2032 | 13,326 |
Total | ¥ 23,875 |
Redeemable Noncontrolling Int_3
Redeemable Noncontrolling Interests (Changes in Redeemable Noncontrolling Interests) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Statement of Stockholders' Equity [Abstract] | |||
Beginning Balance | ¥ 0 | ¥ 10,331 | ¥ 9,780 |
Transaction with noncontrolling interests | 0 | (10,028) | 653 |
Comprehensive income (loss) | |||
Net Income (loss) | 0 | (23) | 384 |
Other comprehensive income (loss) | |||
Net change of foreign currency translation adjustments | 0 | (280) | (197) |
Total other comprehensive income (loss) | 0 | (280) | (197) |
Comprehensive income (loss) | 0 | (303) | 187 |
Dividends | 0 | 0 | (289) |
Ending Balance | ¥ 0 | ¥ 0 | ¥ 10,331 |
Stock-Based Compensation - Addi
Stock-Based Compensation - Additional Information (Detail) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2022 JPY (¥) Point | Mar. 31, 2021 JPY (¥) | Mar. 31, 2020 JPY (¥) | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Points settled for individuals retired | 190,966 | ||
Points outstanding | 1,866,248 | ||
Stock Compensation Plan | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Points granted | 444,374 | ||
Stock-based compensation costs recognized | ¥ | ¥ 1,191 | ¥ 885 | ¥ 417 |
Accumulated Other Comprehensi_3
Accumulated Other Comprehensive Income (Loss) (Changes in Components of Accumulated Other Comprehensive Income (Loss)) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Beginning Balance | ¥ 3,103,144 | ¥ 3,065,835 | ¥ 2,953,201 |
Total other comprehensive income (loss) | 76,744 | 34,277 | (60,272) |
Ending Balance | 3,371,401 | 3,103,144 | 3,065,835 |
Net unrealized gains (losses) on investment in securities | |||
Beginning Balance | (16,208) | (5,001) | 17,389 |
Net unrealized gains (losses) | (52,477) | (11,188) | (17,637) |
Reclassification adjustment included in net income, net of tax | (4,207) | 6 | (4,819) |
Total other comprehensive income (loss) | (56,684) | (11,182) | (22,456) |
Transaction with noncontrolling interests | 0 | 0 | |
Less: Other Comprehensive Income (Loss) Attributable to the Noncontrolling Interests | 0 | 25 | (66) |
Less: Other Comprehensive Income (Loss) Attributable to the Redeemable Noncontrolling Interests | 0 | 0 | |
Ending Balance | (72,892) | (16,208) | (5,001) |
Debt Valuation Adjustments | |||
Beginning Balance | 558 | 1,457 | 582 |
Net unrealized gains (losses) | (311) | (826) | 920 |
Reclassification adjustment included in net income, net of tax | (26) | (73) | (45) |
Total other comprehensive income (loss) | (337) | (899) | 875 |
Transaction with noncontrolling interests | 0 | 0 | |
Less: Other Comprehensive Income (Loss) Attributable to the Noncontrolling Interests | 0 | 0 | 0 |
Less: Other Comprehensive Income (Loss) Attributable to the Redeemable Noncontrolling Interests | 0 | 0 | |
Ending Balance | 221 | 558 | 1,457 |
Defined benefit pension plans | |||
Beginning Balance | (21,073) | (26,375) | (27,902) |
Net unrealized gains (losses) | 12,626 | 4,511 | 886 |
Reclassification adjustment included in net income, net of tax | 376 | 819 | 643 |
Total other comprehensive income (loss) | 13,002 | 5,330 | 1,529 |
Transaction with noncontrolling interests | 0 | 0 | |
Less: Other Comprehensive Income (Loss) Attributable to the Noncontrolling Interests | 1 | 28 | 2 |
Less: Other Comprehensive Income (Loss) Attributable to the Redeemable Noncontrolling Interests | 0 | 0 | |
Ending Balance | (8,072) | (21,073) | (26,375) |
Foreign currency translation adjustments | |||
Beginning Balance | (36,456) | (72,471) | (43,558) |
Net unrealized gains (losses) | 105,079 | 32,180 | (40,605) |
Reclassification adjustment included in net income, net of tax | 614 | 4,066 | 8,941 |
Total other comprehensive income (loss) | 105,693 | 36,246 | (31,664) |
Transaction with noncontrolling interests | (1,472) | 4 | |
Less: Other Comprehensive Income (Loss) Attributable to the Noncontrolling Interests | 5,851 | 511 | (2,550) |
Less: Other Comprehensive Income (Loss) Attributable to the Redeemable Noncontrolling Interests | (280) | (197) | |
Ending Balance | 61,914 | (36,456) | (72,471) |
Net unrealized gains (losses) on derivative instruments | |||
Beginning Balance | (11,471) | (16,142) | (7,854) |
Net unrealized gains (losses) | 10,634 | (997) | (6,385) |
Reclassification adjustment included in net income, net of tax | 4,436 | 5,779 | (2,171) |
Total other comprehensive income (loss) | 15,070 | 4,782 | (8,556) |
Transaction with noncontrolling interests | (3) | (2) | |
Less: Other Comprehensive Income (Loss) Attributable to the Noncontrolling Interests | 808 | 111 | (270) |
Less: Other Comprehensive Income (Loss) Attributable to the Redeemable Noncontrolling Interests | 0 | 0 | |
Ending Balance | 2,788 | (11,471) | (16,142) |
AOCI Attributable to Parent | |||
Beginning Balance | (84,650) | (118,532) | (61,343) |
Total other comprehensive income (loss) | 76,744 | 34,277 | (60,272) |
Transaction with noncontrolling interests | (1,475) | 2 | |
Less: Other Comprehensive Income (Loss) Attributable to the Noncontrolling Interests | 6,660 | 675 | (2,884) |
Less: Other Comprehensive Income (Loss) Attributable to the Redeemable Noncontrolling Interests | (280) | (197) | |
Ending Balance | ¥ (16,041) | ¥ (84,650) | ¥ (118,532) |
Accumulated Other Comprehensi_4
Accumulated Other Comprehensive Income (Loss) (Changes in Components of Accumulated Other Comprehensive Income (Loss)) (Parenthetical) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Net unrealized gains (losses) on investments | ¥ 0 | ¥ 0 | |
Net unrealized gains (losses) on investment in securities | |||
Net unrealized gains (losses), tax | 21,836 | 5,702 | ¥ 5,078 |
Reclassification adjustment included in net income, tax | 61 | 510 | 1,938 |
Debt valuation adjustments | |||
Net unrealized gains (losses), tax | 121 | 321 | (357) |
Reclassification adjustment included in net income, tax | 10 | 28 | 17 |
Defined benefit pension plans | |||
Net unrealized gains (losses), tax | (4,738) | (2,247) | (223) |
Reclassification adjustment included in net income, tax | (151) | (368) | (225) |
Foreign currency translation adjustments | |||
Net unrealized gains (losses), tax | 17,642 | 14,709 | (6,212) |
Reclassification adjustment included in net income, tax | (295) | (751) | (4,064) |
Net unrealized gains (losses) on derivative instruments | |||
Net unrealized gains (losses), tax | (3,256) | 40 | 1,511 |
Reclassification adjustment included in net income, tax | ¥ (1,478) | ¥ (1,923) | ¥ 652 |
Accumulated Other Comprehensi_5
Accumulated Other Comprehensive Income (Loss) (Amounts Reclassified to Net Income from Accumulated Other Comprehensive Income (loss)) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
Gains on sales of subsidiaries and affiliates and liquidation losses, net | ¥ 187,787 | ¥ 23,300 | ¥ 74,001 |
Life insurance costs | (368,140) | (374,348) | (269,425) |
Write-downs of securities and other | (730) | (5,935) | (11,969) |
Interest expense | (68,232) | (78,068) | (99,138) |
Income tax (expense) or benefit | (187,264) | (90,747) | (105,837) |
Net Income | 317,612 | 196,814 | 306,724 |
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 | 4,268 | 504 | 6,757 |
Income tax (expense) or benefit | (61) | (510) | (1,938) |
Net Income | 4,207 | (6) | 4,819 |
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 | 4,619 | 2,473 | 2,366 |
Life insurance premiums and related investment income | 737 | 5,433 | 6,710 |
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] | |||
Finance revenues | 92 | (1,468) | (1,425) |
Life insurance premiums and related investment income | (658) | (1,340) | (894) |
Write-downs of securities and other | (522) | (4,594) | |
Reclassification out of Accumulated Other Comprehensive Income | Debt valuation adjustments | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
Life insurance costs | 36 | 101 | 62 |
Total before income tax | 36 | 101 | 62 |
Income tax (expense) or benefit | (10) | (28) | (17) |
Net Income | 26 | 73 | 45 |
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 | 386 | 447 | 1,028 |
Amortization of net actuarial loss | (912) | (1,633) | (1,895) |
Amortization of transition obligation | (1) | (1) | (1) |
Total before income tax | (527) | (1,187) | (868) |
Income tax (expense) or benefit | 151 | 368 | 225 |
Net Income | (376) | (819) | (643) |
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 | 873 | (2,760) | (7,245) |
Total before income tax | (909) | (4,817) | (13,005) |
Income tax (expense) or benefit | 295 | 751 | 4,064 |
Net Income | (614) | (4,066) | (8,941) |
Reclassification out of Accumulated Other Comprehensive Income | Foreign currency translation adjustments | Foreign exchange contracts | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
Gains on sales of subsidiaries and affiliates and liquidation losses, net/Interest expense/Other (income) and expense, net | (1,782) | (2,057) | (5,760) |
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 | (5,914) | (7,702) | 2,823 |
Income tax (expense) or benefit | 1,478 | 1,923 | (652) |
Net Income | (4,436) | (5,779) | 2,171 |
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] | |||
Interest expense | (1,615) | (1,522) | (775) |
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] | |||
Interest expense /Other (income) and expense | (710) | (242) | (338) |
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] | |||
Interest expense /Other (income) and expense | ¥ (3,589) | ¥ (5,938) | ¥ 3,936 |
ORIX Corporation Shareholders_3
ORIX Corporation Shareholders' Equity (Changes in Number of Shares Issued) (Detail) - shares | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Uncategorized [Abstract] | |||
Beginning balance | 1,285,724,480 | 1,324,629,128 | 1,324,629,128 |
Cancellation of treasury stock | (27,447,393) | (38,904,648) | 0 |
Ending balance | 1,258,277,087 | 1,285,724,480 | 1,324,629,128 |
ORIX Corporation Shareholders_4
ORIX Corporation Shareholders' Equity - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Class of Stock [Line Items] | |||
Dividends to be distributed to shareholders | ¥ 55,704 | ||
Declared date of dividends to be distributed to shareholders | 2022-05 | ||
Record date of dividends to be distributed to shareholders | Mar. 31, 2022 | ||
Amount available for dividends under the Japanese Companies Act | ¥ 782,017 | ||
Equity in undistributed earnings of the companies accounted for by the equity method | 15,006 | ¥ 481 | ¥ 67,924 |
Restricted net assets of certain subsidiaries include regulatory capital requirements for banking and life insurance operations | 12,976 | ||
Retained Earnings | |||
Class of Stock [Line Items] | |||
Equity in undistributed earnings of the companies accounted for by the equity method | ¥ 104,868 |
Gains on Investment Securitie_3
Gains on Investment Securities and Dividends - Gains on Investment Securities and Dividends (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Net Investment Income [Line Items] | |||
Net gains on investment securities | ¥ 54,585 | ¥ 44,622 | ¥ 20,204 |
Dividends income | 1,925 | 1,475 | 2,295 |
Gains on investment securities and dividends | ¥ 56,510 | ¥ 46,097 | ¥ 22,499 |
Life Insurance Operations - Lif
Life Insurance Operations - Life Insurance Premiums and Related Investment Income (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | ||
Net Investment Income [Line Items] | ||||
Total revenue | ¥ 2,520,365 | ¥ 2,292,708 | ¥ 2,280,329 | |
Life insurance premiums | ||||
Net Investment Income [Line Items] | ||||
Total revenue | 431,289 | 403,799 | 360,583 | |
Life insurance related investment income | ||||
Net Investment Income [Line Items] | ||||
Total revenue | [1] | 50,521 | 83,751 | 7,195 |
Life insurance premiums and related investment income | ||||
Net Investment Income [Line Items] | ||||
Total revenue | ¥ 481,810 | ¥ 487,550 | ¥ 367,778 | |
[1]Life insurance related investment income in fiscal 2020, 2021 and 2022 include net unrealized holding losses of ¥13,122 million and gains of ¥61,351 million and ¥8,004 million on equity securities held as of March 31, 2020, 2021 and 2022, respectively. |
Life Insurance Operations - Add
Life Insurance Operations - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Net Investment Income [Line Items] | |||
Amortization of policy acquisition costs charged to income | ¥ 21,213 | ¥ 21,928 | ¥ 20,611 |
Life insurance related investment income | |||
Net Investment Income [Line Items] | |||
Net unrealized holding losses on equity securities | ¥ 13,122 | ||
Trading Securities, Unrealized Holding Gain | ¥ 8,004 | ¥ 61,351 |
Life Insurance Operations - Rei
Life Insurance Operations - Reinsurance Benefits and Reinsurance Premiums Included in Life Insurance Premiums (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Policyholders Account In Life Insurance Business [Abstract] | |||
Reinsurance benefits | ¥ 2,744 | ¥ 2,333 | ¥ 3,268 |
Reinsurance premiums | ¥ (4,498) | ¥ (5,196) | ¥ (5,395) |
Life Insurance Operations - Gai
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 | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Life insurance premiums and related investment income | |||
Net realized and unrealized gains or losses from investment assets | ¥ 8,501 | ¥ 76,470 | ¥ (10,798) |
Net gains or losses from derivative contracts | (1,520) | (10,271) | 1,667 |
Life insurance costs | |||
Changes in the fair value of the policy liabilities and policy account balances | (67,984) | (35,565) | (58,244) |
Insurance costs recognized for insurance and annuity payouts as a result of insured events | 69,727 | 77,631 | 53,442 |
Changes in the fair value of the reinsurance contracts | 1,083 | 11,909 | (5,757) |
Futures | |||
Life insurance premiums and related investment income | |||
Net gains or losses from derivative contracts | (1,075) | (9,412) | 1,257 |
Foreign exchange contracts | |||
Life insurance premiums and related investment income | |||
Net gains or losses from derivative contracts | (445) | (261) | 8 |
Options held | |||
Life insurance premiums and related investment income | |||
Net gains or losses from derivative contracts | ¥ 0 | ¥ (598) | ¥ 402 |
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 | Mar. 31, 2022 | Mar. 31, 2021 |
Long Lived Assets Held-for-sale [Line Items] | ||
Investment in operating leases | ¥ 35,061 | ¥ 8,055 |
Property under facility operations | 8,376 | 0 |
Office facilities | 1,375 | 0 |
Other assets | 1,556 | 0 |
Other liabilities | ¥ 1,761 | ¥ 0 |
Write-Downs of Long-Lived Ass_4
Write-Downs of Long-Lived Assets - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Property, Plant and Equipment [Abstract] | |||
Write-downs of long-lived assets | ¥ 35,666 | ¥ 3,020 | ¥ 3,043 |
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 | 12 Months Ended | |||
Mar. 31, 2022 JPY (¥) Property | Mar. 31, 2021 JPY (¥) Property | Mar. 31, 2020 JPY (¥) Property | ||
Impaired Long-Lived Assets Held and Used [Line Items] | ||||
Write-downs of the assets held for sale, amount | ¥ 12,749 | ¥ 1,067 | ¥ 159 | |
Write-downs due to decline estimated future cash flows, amount | 22,917 | 1,953 | 2,884 | |
Office Buildings | ||||
Impaired Long-Lived Assets Held and Used [Line Items] | ||||
Write-downs of the assets held for sale, amount | 0 | |||
Write-downs due to decline estimated future cash flows, amount | ¥ 331 | |||
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 of the assets held for sale, amount | ¥ 858 | ¥ 1,067 | 0 | |
Write-downs of the assets held for sale, number of properties | Property | 3 | 5 | ||
Write-downs due to decline estimated future cash flows, amount | ¥ 11 | ¥ 189 | ¥ 529 | |
Write-downs due to decline estimated future cash flows, number of properties | Property | 1 | 1 | 2 | |
Condominiums | ||||
Impaired Long-Lived Assets Held and Used [Line Items] | ||||
Write-downs of the assets held for sale, amount | ¥ 13 | ¥ 0 | ¥ 159 | |
Write-downs of the assets held for sale, number of properties | Property | 2 | 1 | ||
Write-downs due to decline estimated future cash flows, amount | ¥ 83 | ¥ 64 | ¥ 77 | |
Write-downs due to decline estimated future cash flows, number of properties | Property | 49 | 2 | 3 | |
Land undeveloped or under construction | ||||
Impaired Long-Lived Assets Held and Used [Line Items] | ||||
Write-downs of the assets held for sale, amount | ¥ 0 | ¥ 0 | ||
Write-downs due to decline estimated future cash flows, amount | ¥ 98 | ¥ 2,083 | ||
Write-downs due to decline estimated future cash flows, number of properties | Property | 2 | 2 | ||
Others | ||||
Impaired Long-Lived Assets Held and Used [Line Items] | ||||
Write-downs of the assets held for sale, amount | [1] | ¥ 11,878 | ¥ 0 | ¥ 0 |
Write-downs due to decline estimated future cash flows, amount | [1] | ¥ 22,823 | ¥ 1,271 | ¥ 195 |
[1]For the “Others”, the numbers of properties are omitted. Write-downs of long-lived assets for fiscal 2020, 2021 include write-downs of ¥109 million and ¥1,099 million of hotels, respectively. Write-downs of long-lived assets for fiscal 2022 include write-downs of ¥31,206 million of property under facility operations and others held by subsidiaries and ¥2,331 million of two aircrafts. |
Write-Downs of Long-Lived Ass_6
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 (Parenthetical) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | ||
Impaired Long-Lived Assets Held and Used [Line Items] | ||||
Write-downs of long-lived assets | ¥ 12,749 | ¥ 1,067 | ¥ 159 | |
Property, Plant and Equipment, Other Types | ||||
Impaired Long-Lived Assets Held and Used [Line Items] | ||||
Write-downs of long-lived assets | [1] | 11,878 | 0 | 0 |
Property, Plant and Equipment, Other Types | Aircraft | ||||
Impaired Long-Lived Assets Held and Used [Line Items] | ||||
Write-downs of long-lived assets | 2,331 | |||
Property, Plant and Equipment, Other Types | Hotel | ||||
Impaired Long-Lived Assets Held and Used [Line Items] | ||||
Write-downs of long-lived assets | ¥ 1,099 | ¥ 109 | ||
Property, Plant and Equipment, Other Types | Property under Facility Operations | ||||
Impaired Long-Lived Assets Held and Used [Line Items] | ||||
Write-downs of long-lived assets | 31,205 | |||
Property, Plant and Equipment, Other Types | Coal-biomass co-fired power plants [Member] | ||||
Impaired Long-Lived Assets Held and Used [Line Items] | ||||
Write-downs of long-lived assets | ¥ 19,564 | |||
[1]For the “Others”, the numbers of properties are omitted. Write-downs of long-lived assets for fiscal 2020, 2021 include write-downs of ¥109 million and ¥1,099 million of hotels, respectively. Write-downs of long-lived assets for fiscal 2022 include write-downs of ¥31,206 million of property under facility operations and others held by subsidiaries and ¥2,331 million of two aircrafts. |
Per Share Data - Additional Inf
Per Share Data - Additional Information (Detail) - shares | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
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 | 2,104,640 | 1,897,979 | 1,735,570 |
Stock Options | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Antidilutive shares excluded from calculation of diluted EPS | 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, shares in Thousands, ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Earnings Per Share [Abstract] | |||
Net Income attributable to ORIX Corporation shareholders | ¥ 312,135 | ¥ 192,384 | ¥ 302,700 |
Weighted-average shares | 1,203,452 | 1,236,897 | 1,275,166 |
Effect of dilutive securities | |||
Stock compensation | 1,400 | 1,197 | 1,153 |
Weighted-average shares for diluted EPS computation | 1,204,852 | 1,238,094 | 1,276,319 |
Earnings per share for net income attributable to ORIX Corporation shareholders: | |||
Basic | ¥ 259.37 | ¥ 155.54 | ¥ 237.38 |
Diluted | ¥ 259.07 | ¥ 155.39 | ¥ 237.17 |
Derivative Financial Instrume_3
Derivative Financial Instruments and Hedging - Additional Information (Detail) - Cash Flow Hedging [Member] - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Derivative Instruments, Gain (Loss) [Line Items] | |||
Derivative instruments, gain (loss) reclassified from accumulated OCI into income, effective portion, net | ¥ (4,436) | ¥ (5,779) | ¥ 2,171 |
Derivative instruments losses included in other comprehensive income loss reclassified into Earnings within next 12 months | ¥ 137 |
Derivative Financial Instrume_4
Derivative Financial Instruments and Hedging (Effect of Derivative Instruments on Consolidated Statements of Income, Pre-tax) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | ||||
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 | ¥ 16,507 | ¥ 5,051 | ¥ (11,506) | |||
Derivatives designated as hedging instruments | Cash flow hedges | Interest rate swap agreements | Interest expense | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Gains (losses) reclassified from other comprehensive income (loss) into income | 1,615 | 1,522 | 775 | |||
Derivatives designated as hedging instruments | Cash flow hedges | Interest rate swap agreements | Other (income) and expense | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Gains (losses) reclassified from other comprehensive income (loss) into income | 0 | 0 | 0 | |||
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 | (542) | (45) | (241) | |||
Derivatives designated as hedging instruments | Cash flow hedges | Foreign exchange contracts | Interest expense | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Gains (losses) reclassified from other comprehensive income (loss) into income | 223 | 827 | (119) | |||
Derivatives designated as hedging instruments | Cash flow hedges | Foreign exchange contracts | Other (income) and expense | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Gains (losses) reclassified from other comprehensive income (loss) into income | 487 | (585) | 457 | |||
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 | (2,075) | (6,043) | 3,851 | |||
Derivatives designated as hedging instruments | Cash flow hedges | Foreign currency swap agreements | Interest expense | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Gains (losses) reclassified from other comprehensive income (loss) into income | 559 | 553 | 413 | |||
Derivatives designated as hedging instruments | Cash flow hedges | Foreign currency swap agreements | Other (income) and expense | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Gains (losses) reclassified from other comprehensive income (loss) into income | 3,030 | 5,385 | (4,349) | |||
Derivatives designated as hedging instruments | Fair value hedges | Interest rate swap agreements | Other (income) and expense | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Gains (losses) recognized in income on derivative | 0 | 0 | 0 | |||
Gains (losses) recognized in income on hedged item | 0 | 0 | 0 | |||
Derivatives designated as hedging instruments | Fair value hedges | Interest rate swap agreements | Life insurance premiums and related investment income | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Gains (losses) recognized in income on derivative | 4,142 | 9,533 | (19,805) | |||
Gains (losses) recognized in income on hedged item | (4,068) | (8,990) | 18,955 | |||
Derivatives designated as hedging instruments | Fair value hedges | Foreign exchange contracts | Life insurance premiums and related investment income | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Gains (losses) recognized in income on derivative | (37,997) | (5,032) | 3,656 | |||
Gains (losses) recognized in income on hedged item | 37,659 | 3,591 | (3,294) | |||
Derivatives designated as hedging instruments | Fair value hedges | Foreign exchange contracts | Life insurance premiums and related investment income/Other (income) | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Gains (losses) recognized in income on derivative | 5 | 438 | (187) | |||
Gains (losses) recognized in income on hedged item | 89 | (356) | 244 | |||
Derivatives designated as hedging instruments | Hedges of net investment in foreign operations | Borrowings and bonds in foreign currencies | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Gains (losses) recognized in other comprehensive income on derivative | (63,922) | (15,840) | 13,489 | |||
Derivatives designated as hedging instruments | Hedges of net investment in foreign operations | Borrowings and bonds in foreign currencies | Interest expense | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Gains (losses) reclassified from other comprehensive income (loss) into income | 0 | 0 | 0 | |||
Derivatives designated as hedging instruments | Hedges of net investment in foreign operations | Borrowings and bonds in foreign currencies | Other (income) and expense | ||||||
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 | Borrowings and bonds in foreign currencies | Write-downs of securities | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Gains (losses) reclassified from other comprehensive income (loss) into income | 0 | |||||
Derivatives designated as hedging instruments | Hedges of net investment in foreign operations | Borrowings and bonds in foreign currencies | 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 | 0 | |||
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 | (28,498) | (27,128) | 15,273 | |||
Derivatives designated as hedging instruments | Hedges of net investment in foreign operations | Foreign exchange contracts | Interest expense | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Gains (losses) reclassified from other comprehensive income (loss) into income | 1,673 | 3,181 | 4,595 | |||
Derivatives designated as hedging instruments | Hedges of net investment in foreign operations | Foreign exchange contracts | Other (income) and expense | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Gains (losses) reclassified from other comprehensive income (loss) into income | 5 | 21 | ||||
Derivatives designated as hedging instruments | Hedges of net investment in foreign operations | Foreign exchange contracts | Write-downs of securities | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Gains (losses) reclassified from other comprehensive income (loss) into income | 2,759 | |||||
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 | (104) | 1,145 | 1,594 | |||
Nondesignated | Interest rate swap agreements | Interest expense | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Gains (losses) recognized in income on derivative | 6 | 7 | 7 | |||
Nondesignated | Interest rate swap agreements | Other (income) and expense | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Gains (losses) recognized in income on derivative | (22) | (13) | 159 | |||
Nondesignated | Interest rate swap agreements | Life insurance premiums and related investment income | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Gains (losses) recognized in income on derivative | 0 | [1] | 0 | [2] | 0 | [3] |
Nondesignated | Futures | Interest expense | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Gains (losses) recognized in income on derivative | 0 | 0 | 0 | |||
Nondesignated | Futures | Other (income) and expense | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Gains (losses) recognized in income on derivative | 186 | 6,980 | (1,843) | |||
Nondesignated | Futures | Life insurance premiums and related investment income | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Gains (losses) recognized in income on derivative | (1,075) | [1] | (9,412) | [2] | 1,257 | [3] |
Nondesignated | Foreign exchange contracts | Interest expense | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Gains (losses) recognized in income on derivative | 1,308 | 2,085 | 4,803 | |||
Nondesignated | Foreign exchange contracts | Other (income) and expense | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Gains (losses) recognized in income on derivative | 38,330 | 12,814 | (1,840) | |||
Nondesignated | Foreign exchange contracts | Life insurance premiums and related investment income | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Gains (losses) recognized in income on derivative | 20,254 | [1] | (215) | [2] | 204 | [3] |
Nondesignated | Credit derivatives held | Interest expense | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Gains (losses) recognized in income on derivative | 0 | 0 | 0 | |||
Nondesignated | Credit derivatives held | Other (income) and expense | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Gains (losses) recognized in income on derivative | (1) | 1 | (6) | |||
Nondesignated | Credit derivatives held | Life insurance premiums and related investment income | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Gains (losses) recognized in income on derivative | 0 | [1] | 0 | [2] | 0 | [3] |
Nondesignated | Options held/written and other | Interest expense | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Gains (losses) recognized in income on derivative | 0 | 0 | 0 | |||
Nondesignated | Options held/written and other | Other (income) and expense | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Gains (losses) recognized in income on derivative | (749) | (2,419) | 4,481 | |||
Nondesignated | Options held/written and other | Life insurance premiums and related investment income | ||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||
Gains (losses) recognized in income on derivative | ¥ 0 | [1] | ¥ (598) | [2] | ¥ 402 | [3] |
[1]Futures and foreign exchange contracts in the above table include gains (losses) arising from futures and foreign exchange contracts held to economically hedge the minimum guarantee risk of variable annuity and variable life insurance contracts for fiscal 2022 (see Note 24 “Life Insurance Operations”).[2]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 fiscal 2021 (see Note 24 “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 fiscal 2020 (see Note 24 “Life Insurance Operations”). |
Derivative Financial Instrume_5
Derivative Financial Instruments and Hedging (Schedule of Effect of Components Excluded From the Assessment of Hedge Effectiveness on the Consolidated Statements of Income) (Detail) - Fair value hedges - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Foreign exchange contracts | Life insurance premiums and related investment income | |||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net | ¥ (1,233) | ¥ (1,249) | ¥ (3,020) |
Foreign exchange contracts | Interest expense | |||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net | 9 | 6 | 3 |
Foreign exchange contracts | Other (income) and expense | |||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net | 0 | 0 | 0 |
Options held/written and other | Life insurance premiums and related investment income | |||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net | 0 | 0 | 0 |
Options held/written and other | Interest expense | |||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net | 0 | 0 | 0 |
Options held/written and other | Other (income) and expense | |||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net | ¥ 31 | ¥ 32 | ¥ 29 |
Derivative Financial Instrume_6
Derivative Financial Instruments and Hedging (Derivative instruments fair value hedge assets and liabilities) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2022 | Mar. 31, 2021 |
Investment in Securities [Member] | ||
Carrying amount | ¥ 422,938 | ¥ 314,248 |
The cumulative amount of fair value hedging adjustments included in the carrying amount | 1,147 | 12,764 |
Carrying amount | 0 | 0 |
The cumulative amount of fair value hedging adjustments included in the carrying amount | 0 | 0 |
Installment Loans [Member] | ||
Carrying amount | 28,836 | 17,942 |
The cumulative amount of fair value hedging adjustments included in the carrying amount | 55 | 43 |
Carrying amount | 0 | 0 |
The cumulative amount of fair value hedging adjustments included in the carrying amount | ¥ 0 | ¥ 0 |
Derivative Financial Instrume_7
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 | Mar. 31, 2022 | Mar. 31, 2021 | ||
Derivatives, Fair Value [Line Items] | ||||
Derivative assets, Fair value | ¥ 51,366 | ¥ 22,696 | ||
Derivative liabilities, Fair value | 105,705 | 71,034 | ||
Interest rate swap agreements | Derivatives designated as hedging instruments | ||||
Derivatives, Fair Value [Line Items] | ||||
Notional amount | 511,224 | 531,971 | ||
Interest rate swap agreements | Derivatives designated as hedging instruments | Other assets | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative assets, Fair value | 9,570 | 1,867 | ||
Interest rate swap agreements | Derivatives designated as hedging instruments | Other liabilities | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative liabilities, Fair value | 8,170 | 23,751 | ||
Interest rate swap agreements | Nondesignated | ||||
Derivatives, Fair Value [Line Items] | ||||
Notional amount | 432 | 6,409 | ||
Interest rate swap agreements | Nondesignated | Other assets | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative assets, Fair value | 0 | 0 | ||
Interest rate swap agreements | Nondesignated | Other liabilities | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative liabilities, Fair value | 12 | 67 | ||
Options held/written and other | Derivatives designated as hedging instruments | ||||
Derivatives, Fair Value [Line Items] | ||||
Notional amount | 847 | 840 | ||
Options held/written and other | Derivatives designated as hedging instruments | Other assets | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative assets, Fair value | 11 | 26 | ||
Options held/written and other | Derivatives designated as hedging instruments | Other liabilities | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative liabilities, Fair value | 0 | 0 | ||
Options held/written and other | Nondesignated | ||||
Derivatives, Fair Value [Line Items] | ||||
Notional amount | 794,774 | 746,058 | ||
Options held/written and other | Nondesignated | Other assets | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative assets, Fair value | 25,653 | 19,478 | ||
Options held/written and other | Nondesignated | Other liabilities | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative liabilities, Fair value | 21,562 | 17,009 | ||
Futures, foreign exchange contracts | Derivatives designated as hedging instruments | ||||
Derivatives, Fair Value [Line Items] | ||||
Notional amount | 944,282 | 657,411 | ||
Futures, foreign exchange contracts | Derivatives designated as hedging instruments | Other assets | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative assets, Fair value | 445 | 437 | ||
Futures, foreign exchange contracts | Derivatives designated as hedging instruments | Other liabilities | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative liabilities, Fair value | 51,953 | 18,941 | ||
Futures, foreign exchange contracts | Nondesignated | ||||
Derivatives, Fair Value [Line Items] | ||||
Notional amount | 725,685 | [1] | 320,908 | [2] |
Futures, foreign exchange contracts | Nondesignated | Other assets | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative assets, Fair value | 15,561 | [1] | 742 | [2] |
Futures, foreign exchange contracts | Nondesignated | Other liabilities | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative liabilities, Fair value | 19,490 | [1] | 6,798 | [2] |
Foreign currency swap agreements | Derivatives designated as hedging instruments | ||||
Derivatives, Fair Value [Line Items] | ||||
Notional amount | 78,445 | 76,023 | ||
Foreign currency swap agreements | Derivatives designated as hedging instruments | Other assets | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative assets, Fair value | 126 | 146 | ||
Foreign currency swap agreements | Derivatives designated as hedging instruments | Other liabilities | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative liabilities, Fair value | 4,518 | 4,459 | ||
Foreign currency long- term-debt | Derivatives designated as hedging instruments | ||||
Derivatives, Fair Value [Line Items] | ||||
Notional amount | 690,381 | 582,174 | ||
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 | ||
Credit derivatives held | Nondesignated | ||||
Derivatives, Fair Value [Line Items] | ||||
Notional amount | 171 | |||
Credit derivatives held | Nondesignated | Other assets | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative assets, Fair value | 0 | |||
Credit derivatives held | Nondesignated | Other liabilities | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative liabilities, Fair value | ¥ 9 | |||
[1]The notional amounts of futures and foreign exchange contracts in the above table include futures contracts of ¥15,088 million and foreign exchange contracts of ¥7,415 million to economically hedge the minimum guarantee risk of variable annuity and variable life insurance contracts at March 31, 2022, respectively. Derivative assets in the above table include fair value of the futures and foreign exchange contracts before offsetting of ¥79 million and ¥57 million and derivative liabilities include fair value of the futures and foreign exchange contracts before offsetting of ¥1,325 million and ¥378 million at March 31, 2022, respectively.[2]The notional amounts of futures and foreign exchange contracts in the above table include futures contracts of ¥19,127 million and foreign exchange contracts of ¥7,245 million to economically hedge the minimum guarantee risk of variable annuity and variable life insurance contracts at March 31, 2021, respectively. Derivative assets in the above table include fair value of the futures and foreign exchange contracts before offsetting of ¥41 million and ¥24 million and derivative liabilities include fair value of the futures and foreign exchange contracts before offsetting of ¥438 million and ¥302 million at March 31, 2021, respectively. |
Derivative Financial Instrume_8
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 | Mar. 31, 2022 | Mar. 31, 2021 |
Derivatives, Fair Value [Line Items] | ||
Derivative assets Fair value | ¥ 51,366 | ¥ 22,696 |
Derivative liabilities Fair value | 105,705 | 71,034 |
Futures | Variable Annuity and Variable Life Insurance Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 15,088 | 19,127 |
Derivative assets Fair value | 79 | 41 |
Derivative liabilities Fair value | 1,325 | 438 |
Foreign exchange contracts | Variable Annuity and Variable Life Insurance Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 7,415 | 7,245 |
Derivative assets Fair value | 57 | 24 |
Derivative liabilities Fair value | ¥ 378 | ¥ 302 |
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 | Mar. 31, 2022 | Mar. 31, 2021 | |
Offsetting Asset and Liabilities [Line Items] | |||
Gross amounts recognized, assets | ¥ 51,366 | ¥ 22,696 | |
Gross amounts offset in the consolidated balance sheets, assets | (20,333) | (1,944) | |
Net amounts presented in the consolidated balance sheets, assets | 31,033 | 20,752 | |
Gross amounts not offset in the consolidated balance sheets, financial instruments, assets | [1] | 0 | 0 |
Gross amounts not offset in the consolidated balance sheets, collateral, assets | [1] | (1,060) | 0 |
Net amount, assets | 29,973 | 20,752 | |
Gross amounts recognized, liabilities | 105,705 | 71,034 | |
Gross amounts offset in the consolidated balance sheets, liabilities | (20,333) | (1,944) | |
Net amounts presented in the consolidated balance sheets, liabilities | 85,372 | 69,090 | |
Gross amounts not offset in the consolidated balance sheets, financial instruments, liabilities | [1] | (15,409) | (18,913) |
Gross amounts not offset in the consolidated balance sheets, collateral, liabilities | [1] | 0 | (147) |
Net amount, liabilities | 69,963 | 50,030 | |
Derivative liabilities | |||
Offsetting Asset and Liabilities [Line Items] | |||
Gross amounts recognized, liabilities | 105,705 | 71,034 | |
Gross amounts offset in the consolidated balance sheets, liabilities | (20,333) | (1,944) | |
Net amounts presented in the consolidated balance sheets, liabilities | 85,372 | 69,090 | |
Gross amounts not offset in the consolidated balance sheets, financial instruments, liabilities | [1] | (15,409) | (18,913) |
Gross amounts not offset in the consolidated balance sheets, collateral, liabilities | [1] | 0 | (147) |
Net amount, liabilities | 69,963 | 50,030 | |
Derivative assets | |||
Offsetting Asset and Liabilities [Line Items] | |||
Gross amounts recognized, assets | 51,366 | 22,696 | |
Gross amounts offset in the consolidated balance sheets, assets | (20,333) | (1,944) | |
Net amounts presented in the consolidated balance sheets, assets | 31,033 | 20,752 | |
Gross amounts not offset in the consolidated balance sheets, financial instruments, assets | [1] | 0 | 0 |
Gross amounts not offset in the consolidated balance sheets, collateral, assets | [1] | (1,060) | 0 |
Net amount, assets | ¥ 29,973 | ¥ 20,752 | |
[1]The balances related to enforceable master netting agreements or similar agreements which were not offset in the consolidated balance sheets. |
Significant Concentrations of_2
Significant Concentrations of Credit Risk - Additional Information (Detail) - JPY (¥) ¥ in Billions | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Concentration Risk [Line Items] | ||
Concentration of risk description | no concentration with a single obligor exceeded 1% of the Company’s consolidated total assets | no concentration with a single obligor exceeded 1% of the Company’s consolidated total assets |
Transportation equipment | Assets | Customer [Member] | ||
Concentration Risk [Line Items] | ||
Concentration risk , percentage | 9.30% | 9.70% |
Consumer - Real Estate Loans | Assets | Customer [Member] | ||
Concentration Risk [Line Items] | ||
Concentration risk , percentage | 14.80% | 15.30% |
Japan | Geographic Concentration Risk | Assets | ||
Concentration Risk [Line Items] | ||
Credit exposures on a geographic basis | ¥ 7,138 | ¥ 7,112 |
Japan | Geographic Concentration Risk | Assets | Customer [Member] | ||
Concentration Risk [Line Items] | ||
Concentration risk , percentage | 70% | 73% |
United States | Geographic Concentration Risk | Assets | ||
Concentration Risk [Line Items] | ||
Credit exposures on a geographic basis | ¥ 1,355 | ¥ 1,180 |
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 | Mar. 31, 2022 | Mar. 31, 2021 | ||
Assets: | ||||
Cash and cash equivalents | ¥ 954,827 | ¥ 951,242 | ||
Restricted Cash | 136,985 | 128,333 | ||
Equity securities | [1] | 560,643 | 540,082 | |
Trading debt securities | 2,503 | 2,654 | ||
Available-for-sale debt securities | 2,174,891 | 2,003,917 | ||
Held-to-maturity debt securities | 114,312 | 113,790 | ||
Other Assets: | ||||
Derivative assets | 31,033 | 20,752 | ||
Liabilities: | ||||
Short-term debt | 439,639 | 307,269 | ||
Deposits | 2,276,158 | 2,317,785 | ||
Long-term debt | 4,427,046 | 4,416,833 | ||
Other Liabilities: | ||||
Derivative liabilities | 85,372 | 69,090 | ||
Level 1 | ||||
Assets: | ||||
Cash and cash equivalents | 954,827 | 951,242 | ||
Restricted Cash | 136,985 | 128,333 | ||
Installment loans (net of allowance for probable loan losses) | 0 | 0 | ||
Equity securities | 112,200 | [2] | 82,039 | |
Trading debt securities | 0 | 0 | ||
Available-for-sale debt securities | 1,095 | 6,012 | ||
Held-to-maturity debt securities | 0 | 0 | ||
Other Assets: | ||||
Time deposits | 0 | 0 | ||
Derivative assets | [3] | 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 | [3] | 0 | 0 | |
Level 2 | ||||
Assets: | ||||
Cash and cash equivalents | 0 | 0 | ||
Restricted Cash | 0 | 0 | ||
Installment loans (net of allowance for probable loan losses) | 261,031 | 166,410 | ||
Equity securities | 160,099 | [2] | 223,016 | |
Trading debt securities | 2,503 | 2,654 | ||
Available-for-sale debt securities | 2,032,736 | 1,864,448 | ||
Held-to-maturity debt securities | 112,678 | 115,893 | ||
Other Assets: | ||||
Time deposits | 4,197 | 4,146 | ||
Derivative assets | [3] | 0 | 0 | |
Reinsurance recoverables (Investment contracts) | 0 | 0 | ||
Liabilities: | ||||
Short-term debt | 439,639 | 307,269 | ||
Deposits | 2,108,169 | 2,167,449 | ||
Policy liabilities and Policy account balances (Investment contracts) | 0 | 0 | ||
Long-term debt | 1,456,822 | 1,286,463 | ||
Other Liabilities: | ||||
Derivative liabilities | [3] | 0 | 0 | |
Level 3 | ||||
Assets: | ||||
Cash and cash equivalents | 0 | 0 | ||
Restricted Cash | 0 | 0 | ||
Installment loans (net of allowance for probable loan losses) | 3,545,521 | 3,465,151 | ||
Equity securities | 112,972 | [2] | 91,410 | |
Trading debt securities | 0 | 0 | ||
Available-for-sale debt securities | 141,060 | 133,457 | ||
Held-to-maturity debt securities | 22,763 | 23,239 | ||
Other Assets: | ||||
Time deposits | 0 | 0 | ||
Derivative assets | [3] | 0 | 0 | |
Reinsurance recoverables (Investment contracts) | 6,049 | 7,507 | ||
Liabilities: | ||||
Short-term debt | 0 | 0 | ||
Deposits | 0 | 0 | ||
Policy liabilities and Policy account balances (Investment contracts) | 178,159 | 196,624 | ||
Long-term debt | 2,969,807 | 3,155,888 | ||
Other Liabilities: | ||||
Derivative liabilities | [3] | 0 | 0 | |
Carrying amount | ||||
Assets: | ||||
Cash and cash equivalents | 954,827 | 951,242 | ||
Restricted Cash | 136,985 | 128,333 | ||
Installment loans (net of allowance for probable loan losses) | 3,814,773 | 3,613,316 | ||
Equity securities | 385,271 | [2] | 396,465 | |
Trading debt securities | 2,503 | 2,654 | ||
Available-for-sale debt securities | 2,174,891 | 2,003,917 | ||
Held-to-maturity debt securities | 114,312 | 113,790 | ||
Other Assets: | ||||
Time deposits | 4,197 | 4,146 | ||
Derivative assets | [3] | 31,033 | 20,752 | |
Reinsurance recoverables (Investment contracts) | 6,216 | 7,299 | ||
Liabilities: | ||||
Short-term debt | 439,639 | 307,269 | ||
Deposits | 2,106,900 | 2,165,293 | ||
Policy liabilities and Policy account balances (Investment contracts) | 178,170 | 196,549 | ||
Long-term debt | 4,427,046 | 4,416,833 | ||
Other Liabilities: | ||||
Derivative liabilities | [3] | 85,372 | 69,090 | |
Estimated fair value | ||||
Assets: | ||||
Cash and cash equivalents | 954,827 | 951,242 | ||
Restricted Cash | 136,985 | 128,333 | ||
Installment loans (net of allowance for probable loan losses) | 3,806,552 | 3,631,561 | ||
Equity securities | 385,271 | [2] | 396,465 | |
Trading debt securities | 2,503 | 2,654 | ||
Available-for-sale debt securities | 2,174,891 | 2,003,917 | ||
Held-to-maturity debt securities | 135,441 | 139,132 | ||
Other Assets: | ||||
Time deposits | 4,197 | 4,146 | ||
Derivative assets | [3] | 31,033 | 20,752 | |
Reinsurance recoverables (Investment contracts) | 6,049 | 7,507 | ||
Liabilities: | ||||
Short-term debt | 439,639 | 307,269 | ||
Deposits | 2,108,169 | 2,167,449 | ||
Policy liabilities and Policy account balances (Investment contracts) | 178,159 | 196,624 | ||
Long-term debt | 4,426,629 | 4,442,351 | ||
Other Liabilities: | ||||
Derivative liabilities | [3] | ¥ 85,372 | ¥ 69,090 | |
[1]The amount of assets under management of variable annuity and variable life insurance contracts included in equity securities were ¥249,830 million and ¥185,115 million as of March 31, 2021 and 2022, respectively. The amount of investment funds that are accounted for under the equity method included in equity securities were ¥82,420 million and ¥ 90,650 million as of March 31, 2021 and 2022, respectively. The amount of investment funds and others elected the fair value option included in equity securities were ¥4,940 million and ¥11,709 million as of March 31, 2021 and 2022, respectively.[2]The amount of ¥25,999 million of investment funds measured at net asset value per share is not included.[3]It represents the amount after offset under counterparty netting of derivative assets and liabilities. For the information of input level before netting, see Note 2 “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) - JPY (¥) ¥ in Millions | Mar. 31, 2022 | Mar. 31, 2021 |
Estimated fair value | Investment in securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment funds | ¥ 25,999 | ¥ 13,737 |
Commitments, Guarantees, and Co
Commitments, Guarantees, and Contingent Liabilities - Additional Information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Commitments and Contingencies Disclosure [Line Items] | |||
Commitments for purchase of equipment to be leased at cost | ¥ 3,475 | ||
Payments for computer systems under non-cancelable contracts | 8,036 | ¥ 6,486 | ¥ 7,139 |
Estimated construction costs | 128,449 | ||
Total unused credit and capital amount available | 436,784 | ||
Guarantee Obligations Maximum Exposure | 1,153,273 | 1,147,392 | |
Guarantee Obligations Current Carrying Value | 60,458 | 63,843 | |
Outstanding principal amount of loans transferred under Delegated Underwriting and Servicing program | 2,121,074 | 1,857,499 | |
Provision for credit losses for off balance sheet credit exposure reversals | 4,449 | 7,437 | |
Other Liabilities [Member] | |||
Commitments and Contingencies Disclosure [Line Items] | |||
Allowance for off-balance sheet credit exposure | 22,120 | 26,094 | |
Corporate Loans | |||
Commitments and Contingencies Disclosure [Line Items] | |||
Guarantee Obligations Maximum Exposure | 436,414 | 469,377 | |
Guarantee Obligations Current Carrying Value | 4,895 | 4,768 | |
Performance Guarantee | Corporate Loans | |||
Commitments and Contingencies Disclosure [Line Items] | |||
Guarantee Obligations Maximum Exposure | 563,000 | 690,000 | |
Guarantee Obligations Current Carrying Value | ¥ 2,317 | ¥ 1,998 |
Commitments, Guarantees and C_3
Commitments, Guarantees and Contingent Liabilities - Amounts Due of Certain Computer Systems Operated and Maintained under Non-cancelable Contracts with Third-party Service Providers (Detail) ¥ in Millions | Mar. 31, 2022 JPY (¥) |
Commitments and Contingencies Disclosure [Abstract] | |
2023 | ¥ 5,205 |
2024 | 3,237 |
2025 | 2,112 |
2026 | 139 |
2027 | 70 |
Thereafter | 11 |
Total | ¥ 10,774 |
Commitments, Guarantees, and _2
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 | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Guarantor Obligations [Line Items] | ||
Potential future payment | ¥ 1,153,273 | ¥ 1,147,392 |
Book value of guarantee liabilities | 60,458 | 63,843 |
Transferred loans | ||
Guarantor Obligations [Line Items] | ||
Potential future payment | 417,587 | 365,546 |
Book value of guarantee liabilities | ¥ 4,103 | ¥ 5,827 |
Maturity of the longest contract (Years) | 2062 | 2061 |
Consumer loans | ||
Guarantor Obligations [Line Items] | ||
Potential future payment | ¥ 284,891 | ¥ 294,250 |
Book value of guarantee liabilities | ¥ 47,461 | ¥ 49,025 |
Maturity of the longest contract (Years) | 2033 | 2032 |
Real estate loans | ||
Guarantor Obligations [Line Items] | ||
Potential future payment | ¥ 12,087 | ¥ 17,621 |
Book value of guarantee liabilities | ¥ 3,953 | ¥ 4,119 |
Maturity of the longest contract (Years) | 2048 | 2048 |
Other | ||
Guarantor Obligations [Line Items] | ||
Potential future payment | ¥ 2,294 | ¥ 598 |
Book value of guarantee liabilities | ¥ 46 | ¥ 104 |
Maturity of the longest contract (Years) | 2035 | 2035 |
Corporate loans | ||
Guarantor Obligations [Line Items] | ||
Potential future payment | ¥ 436,414 | ¥ 469,377 |
Book value of guarantee liabilities | ¥ 4,895 | ¥ 4,768 |
Maturity of the longest contract (Years) | 2027 | 2028 |
Segment Information (Financial
Segment Information (Financial Information of Segments) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
Segment Reporting Information [Line Items] | |||
Revenues | ¥ 2,520,365 | ¥ 2,292,708 | ¥ 2,280,329 |
Interest expense | 68,232 | 78,068 | 99,138 |
Depreciation and amortization | 330,351 | 315,955 | 304,204 |
Other significant non-cash items: | |||
Provision for doubtful receivables and probable loan losses | 0 | 0 | 24,425 |
Write-downs of long-lived assets | 35,666 | 3,020 | 3,043 |
Increase in policy liabilities and policy account balances | 141,201 | 230,947 | 70,120 |
Bargain Purchase Gain | 0 | 4,966 | 955 |
Segment profits | 317,612 | 196,814 | 306,724 |
Segment assets | 14,270,672 | 13,563,082 | 13,067,528 |
Investment in affiliates | 978,033 | 887,764 | |
Corporate Financial Services and Maintenance Leasing | |||
Other significant non-cash items: | |||
Bargain Purchase Gain | 955 | ||
PE Investment And Concession | |||
Other significant non-cash items: | |||
Bargain Purchase Gain | 601 | ||
Operating Segment | |||
Segment Reporting Information [Line Items] | |||
Revenues | 2,522,672 | 2,298,365 | 2,283,332 |
Finance revenues | 281,385 | 273,428 | 278,000 |
Interest expense | 67,506 | 77,357 | 97,631 |
Depreciation and amortization | 321,304 | 304,980 | 295,043 |
Other significant non-cash items: | |||
Provision for doubtful receivables and probable loan losses | 3,947 | 16,017 | 24,425 |
Write-downs of long-lived assets | 35,666 | 3,020 | 3,043 |
Increase in policy liabilities and policy account balances | 141,201 | 230,947 | 70,120 |
Equity in net income (loss) of affiliates and gains (losses) on sales of subsidiaries and affiliates and liquidation losses, net | 202,791 | 23,780 | 141,880 |
Bargain Purchase Gain | 4,966 | 955 | |
Segment profits | 551,207 | 332,286 | 451,361 |
Segment assets | 11,999,584 | 11,341,789 | 10,883,545 |
Long-lived assets | 2,150,430 | 1,981,321 | 1,980,786 |
Expenditures for long-lived assets | 452,217 | 406,853 | 546,780 |
Investment in affiliates | 978,019 | 887,735 | 821,600 |
Operating Segment | Corporate Financial Services and Maintenance Leasing | |||
Segment Reporting Information [Line Items] | |||
Revenues | 445,338 | 431,015 | 428,961 |
Finance revenues | 57,580 | 58,996 | 62,327 |
Interest expense | 5,109 | 5,613 | 6,148 |
Depreciation and amortization | 156,116 | 162,620 | 155,704 |
Other significant non-cash items: | |||
Provision for doubtful receivables and probable loan losses | 1,296 | 1,074 | 1,171 |
Write-downs of long-lived assets | 1,092 | 207 | 11 |
Increase in policy liabilities and policy account balances | 0 | 0 | 0 |
Equity in net income (loss) of affiliates and gains (losses) on sales of subsidiaries and affiliates and liquidation losses, net | 164,020 | 1,485 | 645 |
Bargain Purchase Gain | 0 | 955 | |
Segment profits | 251,384 | 70,727 | 74,712 |
Segment assets | 1,516,795 | 1,676,063 | 1,804,216 |
Long-lived assets | 508,035 | 542,284 | 570,014 |
Expenditures for long-lived assets | 146,851 | 155,713 | 192,614 |
Investment in affiliates | 16,929 | 18,049 | 18,347 |
Operating Segment | Real Estate | |||
Segment Reporting Information [Line Items] | |||
Revenues | 390,688 | 359,798 | 468,086 |
Finance revenues | 5,602 | 6,206 | 6,723 |
Interest expense | 2,584 | 2,282 | 1,790 |
Depreciation and amortization | 16,164 | 15,249 | 14,881 |
Other significant non-cash items: | |||
Provision for doubtful receivables and probable loan losses | 173 | 818 | 242 |
Write-downs of long-lived assets | 88 | 1,167 | 303 |
Increase in policy liabilities and policy account balances | 0 | 0 | 0 |
Equity in net income (loss) of affiliates and gains (losses) on sales of subsidiaries and affiliates and liquidation losses, net | 1,575 | 6,132 | 28,743 |
Bargain Purchase Gain | 0 | 0 | |
Segment profits | 33,558 | 25,886 | 81,513 |
Segment assets | 910,101 | 872,095 | 821,194 |
Long-lived assets | 574,661 | 544,232 | 504,544 |
Expenditures for long-lived assets | 78,601 | 100,494 | 71,034 |
Investment in affiliates | 113,178 | 99,105 | 91,835 |
Operating Segment | PE Investment And Concession | |||
Segment Reporting Information [Line Items] | |||
Revenues | 385,739 | 331,222 | 296,365 |
Finance revenues | 237 | 152 | 124 |
Interest expense | 2,268 | 1,455 | 911 |
Depreciation and amortization | 22,325 | 9,406 | 8,015 |
Other significant non-cash items: | |||
Provision for doubtful receivables and probable loan losses | 924 | 3,621 | 40 |
Write-downs of long-lived assets | 11,657 | 0 | 23 |
Increase in policy liabilities and policy account balances | 0 | 0 | 0 |
Equity in net income (loss) of affiliates and gains (losses) on sales of subsidiaries and affiliates and liquidation losses, net | (11,040) | (8,449) | 35,286 |
Bargain Purchase Gain | 601 | 0 | |
Segment profits | (11,261) | 3,842 | 44,508 |
Segment assets | 353,581 | 378,698 | 322,522 |
Long-lived assets | 85,698 | 74,130 | 53,347 |
Expenditures for long-lived assets | 11,884 | 12,123 | 1,793 |
Investment in affiliates | 43,498 | 55,421 | 68,603 |
Operating Segment | Environment and Energy | |||
Segment Reporting Information [Line Items] | |||
Revenues | 160,232 | 141,971 | 147,498 |
Finance revenues | 1,001 | 1,315 | 1,034 |
Interest expense | 6,651 | 11,469 | 8,403 |
Depreciation and amortization | 18,140 | 20,221 | 17,188 |
Other significant non-cash items: | |||
Provision for doubtful receivables and probable loan losses | 0 | 469 | (2) |
Write-downs of long-lived assets | 19,564 | 98 | 2,083 |
Increase in policy liabilities and policy account balances | 0 | 0 | 0 |
Equity in net income (loss) of affiliates and gains (losses) on sales of subsidiaries and affiliates and liquidation losses, net | 7,295 | 12,423 | 176 |
Bargain Purchase Gain | 4,365 | 0 | |
Segment profits | 2,948 | 27,543 | 11,147 |
Segment assets | 703,608 | 489,174 | 464,273 |
Long-lived assets | 388,399 | 285,155 | 354,510 |
Expenditures for long-lived assets | 30,200 | 17,681 | 29,036 |
Investment in affiliates | 204,260 | 180,492 | 82,253 |
Operating Segment | Insurance | |||
Segment Reporting Information [Line Items] | |||
Revenues | 486,704 | 491,894 | 371,387 |
Finance revenues | 265 | 242 | 220 |
Interest expense | 9 | 6 | 1 |
Depreciation and amortization | 27,884 | 28,366 | 26,560 |
Other significant non-cash items: | |||
Provision for doubtful receivables and probable loan losses | 0 | 7 | 0 |
Write-downs of long-lived assets | 0 | 0 | 0 |
Increase in policy liabilities and policy account balances | 141,201 | 230,947 | 70,120 |
Equity in net income (loss) of affiliates and gains (losses) on sales of subsidiaries and affiliates and liquidation losses, net | 0 | 0 | 0 |
Bargain Purchase Gain | 0 | 0 | |
Segment profits | 54,560 | 56,152 | 45,954 |
Segment assets | 2,072,145 | 1,959,521 | 1,580,158 |
Long-lived assets | 27,962 | 28,538 | 28,911 |
Expenditures for long-lived assets | 0 | 3 | 0 |
Investment in affiliates | 0 | 0 | 0 |
Operating Segment | Banking and credit | |||
Segment Reporting Information [Line Items] | |||
Revenues | 84,821 | 83,724 | 84,355 |
Finance revenues | 76,190 | 78,071 | 80,868 |
Interest expense | 4,946 | 4,931 | 4,488 |
Depreciation and amortization | 1,335 | 1,279 | 1,288 |
Other significant non-cash items: | |||
Provision for doubtful receivables and probable loan losses | 2,395 | 508 | 11,971 |
Write-downs of long-lived assets | 0 | 0 | 0 |
Increase in policy liabilities and policy account balances | 0 | 0 | 0 |
Equity in net income (loss) of affiliates and gains (losses) on sales of subsidiaries and affiliates and liquidation losses, net | 1 | 3 | 3 |
Bargain Purchase Gain | 0 | 0 | |
Segment profits | 43,779 | 49,913 | 40,816 |
Segment assets | 2,687,156 | 2,690,627 | 2,603,736 |
Long-lived assets | 0 | 0 | 0 |
Expenditures for long-lived assets | 0 | 0 | 0 |
Investment in affiliates | 67 | 200 | 400 |
Operating Segment | Aircraft and Ships | |||
Segment Reporting Information [Line Items] | |||
Revenues | 38,639 | 31,617 | 64,650 |
Finance revenues | 2,580 | 1,172 | 2,478 |
Interest expense | 11,003 | 12,760 | 18,866 |
Depreciation and amortization | 15,669 | 13,566 | 15,705 |
Other significant non-cash items: | |||
Provision for doubtful receivables and probable loan losses | 0 | (159) | 0 |
Write-downs of long-lived assets | 2,331 | 0 | 0 |
Increase in policy liabilities and policy account balances | 0 | 0 | 0 |
Equity in net income (loss) of affiliates and gains (losses) on sales of subsidiaries and affiliates and liquidation losses, net | (5,472) | 8,718 | 28,244 |
Bargain Purchase Gain | 0 | 0 | |
Segment profits | (1,838) | 5,357 | 44,885 |
Segment assets | 684,098 | 601,762 | 585,304 |
Long-lived assets | 271,592 | 262,019 | 258,691 |
Expenditures for long-lived assets | 70,370 | 32,920 | 166,510 |
Investment in affiliates | 320,058 | 293,469 | 284,453 |
Operating Segment | ORIX USA | |||
Segment Reporting Information [Line Items] | |||
Revenues | 161,344 | 138,017 | 135,709 |
Finance revenues | 90,708 | 87,172 | 79,973 |
Interest expense | 16,117 | 19,598 | 30,878 |
Depreciation and amortization | 2,678 | 2,474 | 2,518 |
Other significant non-cash items: | |||
Provision for doubtful receivables and probable loan losses | (1,726) | 6,221 | 7,508 |
Write-downs of long-lived assets | 928 | 1,458 | 510 |
Increase in policy liabilities and policy account balances | 0 | 0 | 0 |
Equity in net income (loss) of affiliates and gains (losses) on sales of subsidiaries and affiliates and liquidation losses, net | 20,593 | 8,423 | 28,380 |
Bargain Purchase Gain | 0 | 0 | |
Segment profits | 76,263 | 40,296 | 50,955 |
Segment assets | 1,364,142 | 1,220,081 | 1,374,027 |
Long-lived assets | 13,399 | 13,656 | 17,859 |
Expenditures for long-lived assets | 717 | 592 | 172 |
Investment in affiliates | 45,337 | 43,816 | 52,361 |
Operating Segment | ORIX Europe | |||
Segment Reporting Information [Line Items] | |||
Revenues | 221,112 | 160,798 | 148,524 |
Finance revenues | 56 | 171 | 559 |
Interest expense | (840) | (435) | (170) |
Depreciation and amortization | 1,225 | 962 | 4,721 |
Other significant non-cash items: | |||
Provision for doubtful receivables and probable loan losses | 0 | 34 | (17) |
Write-downs of long-lived assets | 0 | 0 | 0 |
Increase in policy liabilities and policy account balances | 0 | 0 | 0 |
Equity in net income (loss) of affiliates and gains (losses) on sales of subsidiaries and affiliates and liquidation losses, net | 449 | 245 | 13,157 |
Bargain Purchase Gain | 0 | 0 | |
Segment profits | 49,559 | 39,446 | 45,084 |
Segment assets | 401,869 | 369,546 | 317,847 |
Long-lived assets | 0 | 0 | 0 |
Expenditures for long-lived assets | 0 | 0 | 0 |
Investment in affiliates | 2,221 | 1,770 | 1,495 |
Operating Segment | Asia and Australia | |||
Segment Reporting Information [Line Items] | |||
Revenues | 148,055 | 128,309 | 137,797 |
Finance revenues | 47,166 | 39,931 | 43,694 |
Interest expense | 19,659 | 19,678 | 26,316 |
Depreciation and amortization | 59,768 | 50,837 | 48,463 |
Other significant non-cash items: | |||
Provision for doubtful receivables and probable loan losses | 885 | 3,424 | 3,512 |
Write-downs of long-lived assets | 6 | 90 | 113 |
Increase in policy liabilities and policy account balances | 0 | 0 | 0 |
Equity in net income (loss) of affiliates and gains (losses) on sales of subsidiaries and affiliates and liquidation losses, net | 25,370 | (5,200) | 7,246 |
Bargain Purchase Gain | 0 | 0 | |
Segment profits | 52,255 | 13,124 | 11,787 |
Segment assets | 1,306,089 | 1,084,222 | 1,010,268 |
Long-lived assets | 280,684 | 231,307 | 192,910 |
Expenditures for long-lived assets | 113,594 | 87,327 | 85,621 |
Investment in affiliates | ¥ 232,471 | ¥ 195,413 | ¥ 221,853 |
Segment Information (Reconcilia
Segment Information (Reconciliation of Segment Totals to Consolidated Financial Statement Amounts) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2019 | |
Segment revenues: | ||||
Revenues | ¥ 2,520,365 | ¥ 2,292,708 | ¥ 2,280,329 | |
Segment profits: | ||||
Total segment profits | 302,083 | 258,814 | 269,681 | |
Net income attributable to the noncontrolling interests and net income attributable to the redeemable noncontrolling interests | 0 | 23 | (384) | |
Income before Income Taxes | 504,876 | 287,561 | 412,561 | |
Segment assets: | ||||
Allowance for doubtful receivables on finance leases and probable loan losses | (71,416) | (79,995) | (56,836) | ¥ (58,011) |
Trade Notes, Accounts and Other Receivable | 359,949 | 354,334 | ||
Other corporate assets | 1,732,379 | 1,671,010 | ||
Assets | 14,270,672 | 13,563,082 | 13,067,528 | |
Operating Segment | ||||
Segment revenues: | ||||
Revenues | 2,522,672 | 2,298,365 | 2,283,332 | |
Segment profits: | ||||
Total segment profits | 551,207 | 332,286 | 451,361 | |
Segment assets: | ||||
Assets | 11,999,584 | 11,341,789 | 10,883,545 | |
Corporate, Non-Segment | ||||
Segment revenues: | ||||
Revenues | 16,696 | 12,010 | 16,273 | |
Segment profits: | ||||
Corporate losses | (52,329) | (49,334) | (43,842) | |
Net income attributable to the noncontrolling interests and net income attributable to the redeemable noncontrolling interests | 5,998 | 4,609 | 5,042 | |
Segment assets: | ||||
Cash and cash equivalents, restricted cash | 1,091,812 | 1,079,575 | 1,135,284 | |
Allowance for doubtful receivables on finance leases and probable loan losses | 0 | 0 | (56,836) | |
Allowance For Credit Losses | (69,459) | (78,945) | 0 | |
Trade Notes, Accounts and Other Receivable | 359,949 | 354,334 | 312,744 | |
Other corporate assets | 888,786 | 866,329 | 792,791 | |
Intersegment Eliminations | ||||
Segment revenues: | ||||
Revenues | ¥ (19,003) | ¥ (17,667) | ¥ (19,276) |
Segment Information (Geographic
Segment Information (Geographical Revenues and Income before Income Taxes) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | ||
Segment Reporting Information [Line Items] | ||||
Total Revenues | ¥ 2,520,365 | ¥ 2,292,708 | ¥ 2,280,329 | |
Income before Income Taxes | 504,876 | 287,561 | 412,561 | |
Japan | Reportable Geographical Components | ||||
Segment Reporting Information [Line Items] | ||||
Total Revenues | 1,946,153 | 1,817,124 | 1,792,790 | |
Income before Income Taxes | 322,805 | 176,256 | 266,838 | |
The Americas | Reportable Geographical Components | ||||
Segment Reporting Information [Line Items] | ||||
Total Revenues | [1] | 240,234 | 208,072 | 201,578 |
Income before Income Taxes | [1] | 95,284 | 57,709 | 68,886 |
Other Countries | Reportable Geographical Components | ||||
Segment Reporting Information [Line Items] | ||||
Total Revenues | [2] | 333,978 | 267,512 | 285,961 |
Income before Income Taxes | [2] | ¥ 86,787 | ¥ 53,596 | ¥ 76,837 |
[1]Mainly the United States[2]Mainly Asia, Europe, Australasia and Middle East |
Segment Information - Additiona
Segment Information - Additional Information (Detail) | 12 Months Ended |
Mar. 31, 2022 Segments | |
Segment Reporting Information [Line Items] | |
Number of operating segments | 10 |
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 | 12 Months Ended | ||||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | ¥ 1,246,098 | ¥ 1,087,555 | ¥ 1,174,313 | ||
Other revenues | 1,274,267 | [1] | 1,205,153 | 1,106,016 | |
Segment revenues /Total revenues | 2,520,365 | 2,292,708 | 2,280,329 | ||
Sales of goods | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 340,697 | 321,883 | 287,558 | ||
Real estate sales | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 94,700 | 89,070 | 118,953 | ||
Asset Management and Servicing | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 244,887 | 173,191 | 181,851 | ||
Automobile related services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 76,772 | 72,000 | 77,987 | ||
Facilities operation | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 32,163 | 23,811 | 69,297 | ||
Environment and energy services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 156,327 | 137,011 | 141,532 | ||
Real estate management and brokerage | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 100,304 | 101,942 | 104,110 | ||
Real estate contract work | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 92,999 | 80,179 | 88,966 | ||
Other | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 107,249 | 88,468 | 104,059 | ||
Japan | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 975,669 | 888,237 | 964,641 | ||
The Americas | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 104,747 | 85,527 | 99,979 | ||
Other Countries | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 165,682 | 113,791 | 109,693 | ||
Operating Segment | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 1,245,988 | 1,089,637 | 1,178,267 | ||
Other revenues | 1,276,684 | [1] | 1,208,728 | 1,105,065 | |
Segment revenues /Total revenues | 2,522,672 | 2,298,365 | 2,283,332 | ||
Operating Segment | Sales of goods | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 339,055 | 321,204 | 286,200 | ||
Operating Segment | Real estate sales | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 94,701 | 89,070 | 118,953 | ||
Operating Segment | Asset Management and Servicing | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 244,943 | 173,279 | 181,951 | ||
Operating Segment | Automobile related services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 76,755 | 72,002 | 77,964 | ||
Operating Segment | Facilities operation | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 31,421 | 23,301 | 67,759 | ||
Operating Segment | Environment and energy services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 158,255 | 138,444 | 142,254 | ||
Operating Segment | Real estate management and brokerage | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 102,689 | 103,457 | 106,375 | ||
Operating Segment | Real estate contract work | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 93,265 | 80,455 | 89,522 | ||
Operating Segment | Other | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 104,904 | 88,425 | 107,289 | ||
Operating Segment | Corporate Financial Services and Maintenance Leasing | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 128,385 | 123,213 | 122,546 | ||
Other revenues | 316,953 | 307,802 | 306,415 | [1] | |
Segment revenues /Total revenues | 445,338 | 431,015 | 428,961 | ||
Operating Segment | Corporate Financial Services and Maintenance Leasing | Sales of goods | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 9,741 | 10,348 | 11,536 | ||
Operating Segment | Corporate Financial Services and Maintenance Leasing | Real estate sales | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | Corporate Financial Services and Maintenance Leasing | Asset Management and Servicing | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 347 | 354 | 347 | ||
Operating Segment | Corporate Financial Services and Maintenance Leasing | Automobile related services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 62,897 | 59,903 | 60,782 | ||
Operating Segment | Corporate Financial Services and Maintenance Leasing | Facilities operation | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | Corporate Financial Services and Maintenance Leasing | Environment and energy services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 2,911 | 3,060 | 2,911 | ||
Operating Segment | Corporate Financial Services and Maintenance Leasing | Real estate management and brokerage | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | Corporate Financial Services and Maintenance Leasing | Real estate contract work | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | Corporate Financial Services and Maintenance Leasing | Other | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 52,489 | 49,548 | 46,970 | ||
Operating Segment | Real Estate | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 332,013 | 306,282 | 396,916 | ||
Other revenues | 58,675 | 53,516 | 71,170 | [1] | |
Segment revenues /Total revenues | 390,688 | 359,798 | 468,086 | ||
Operating Segment | Real Estate | Sales of goods | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 2,521 | 2,836 | 4,261 | ||
Operating Segment | Real Estate | Real estate sales | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 94,617 | 88,512 | 117,969 | ||
Operating Segment | Real Estate | Asset Management and Servicing | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 6,107 | 6,216 | 7,453 | ||
Operating Segment | Real Estate | Automobile related services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | Real Estate | Facilities operation | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 31,421 | 23,301 | 67,396 | ||
Operating Segment | Real Estate | Environment and energy services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | Real Estate | Real estate management and brokerage | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 102,689 | 103,457 | 106,375 | ||
Operating Segment | Real Estate | Real estate contract work | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 93,265 | 80,455 | 89,522 | ||
Operating Segment | Real Estate | Other | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 1,393 | 1,505 | 3,940 | ||
Operating Segment | PE Investment and Concession | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 349,077 | 323,762 | 293,940 | ||
Other revenues | 36,662 | 7,460 | 2,425 | [1] | |
Segment revenues /Total revenues | 385,739 | 331,222 | 296,365 | ||
Operating Segment | PE Investment and Concession | Sales of goods | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 320,104 | 301,732 | 261,475 | ||
Operating Segment | PE Investment and Concession | Real estate sales | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | PE Investment and Concession | Asset Management and Servicing | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 20 | 33 | 36 | ||
Operating Segment | PE Investment and Concession | Automobile related services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | PE Investment and Concession | Facilities operation | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | PE Investment and Concession | Environment and energy services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 76 | 0 | 0 | ||
Operating Segment | PE Investment and Concession | Real estate management and brokerage | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | PE Investment and Concession | Real estate contract work | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | PE Investment and Concession | Other | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 28,877 | 21,997 | 32,429 | ||
Operating Segment | Environment and energy services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 159,166 | 140,177 | 145,897 | ||
Other revenues | 1,066 | 1,794 | 1,601 | [1] | |
Segment revenues /Total revenues | 160,232 | 141,971 | 147,498 | ||
Operating Segment | Environment and energy services | Sales of goods | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 3,861 | 3,816 | 4,796 | ||
Operating Segment | Environment and energy services | Real estate sales | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | Environment and energy services | Asset Management and Servicing | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 93 | 45 | 0 | ||
Operating Segment | Environment and energy services | Automobile related services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 228 | 225 | 232 | ||
Operating Segment | Environment and energy services | Facilities operation | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | Environment and energy services | Environment and energy services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 154,081 | 134,424 | 138,380 | ||
Operating Segment | Environment and energy services | Real estate management and brokerage | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | Environment and energy services | Real estate contract work | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | Environment and energy services | Other | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 903 | 1,667 | 2,489 | ||
Operating Segment | Insurance | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 2,062 | 1,667 | 1,023 | ||
Other revenues | 484,642 | 490,227 | 370,364 | [1] | |
Segment revenues /Total revenues | 486,704 | 491,894 | 371,387 | ||
Operating Segment | Insurance | Sales of goods | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | Insurance | Real estate sales | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | Insurance | Asset Management and Servicing | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | Insurance | Automobile related services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | Insurance | Facilities operation | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | Insurance | Environment and energy services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | Insurance | Real estate management and brokerage | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | Insurance | Real estate contract work | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | Insurance | Other | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 2,062 | 1,667 | 1,023 | ||
Operating Segment | Banking and Credit | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 6,427 | 4,978 | 3,291 | ||
Other revenues | 78,394 | 78,746 | 81,064 | [1] | |
Segment revenues /Total revenues | 84,821 | 83,724 | 84,355 | ||
Operating Segment | Banking and Credit | Sales of goods | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | Banking and Credit | Real estate sales | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | Banking and Credit | Asset Management and Servicing | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 326 | 207 | 167 | ||
Operating Segment | Banking and Credit | Automobile related services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | Banking and Credit | Facilities operation | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | Banking and Credit | Environment and energy services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | Banking and Credit | Real estate management and brokerage | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | Banking and Credit | Real estate contract work | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | Banking and Credit | Other | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 6,101 | 4,771 | 3,124 | ||
Operating Segment | Aircraft and Ships | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 7,439 | 3,340 | 12,896 | ||
Other revenues | 31,200 | 28,277 | 51,754 | [1] | |
Segment revenues /Total revenues | 38,639 | 31,617 | 64,650 | ||
Operating Segment | Aircraft and Ships | Sales of goods | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 2,680 | ||
Operating Segment | Aircraft and Ships | Real estate sales | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | Aircraft and Ships | Asset Management and Servicing | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 38 | 23 | 21 | ||
Operating Segment | Aircraft and Ships | Automobile related services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | Aircraft and Ships | Facilities operation | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | Aircraft and Ships | Environment and energy services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | Aircraft and Ships | Real estate management and brokerage | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | Aircraft and Ships | Real estate contract work | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | Aircraft and Ships | Other | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 7,401 | 3,317 | 10,195 | ||
Operating Segment | ORIX USA | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 27,100 | 23,278 | 32,929 | ||
Other revenues | 134,244 | [1] | 114,739 | 102,780 | |
Segment revenues /Total revenues | 161,344 | 138,017 | 135,709 | ||
Operating Segment | ORIX USA | Sales of goods | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 2,251 | 2,407 | 965 | ||
Operating Segment | ORIX USA | Real estate sales | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 84 | 558 | 984 | ||
Operating Segment | ORIX USA | Asset Management and Servicing | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 18,880 | 16,099 | 24,248 | ||
Operating Segment | ORIX USA | Automobile related services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | ORIX USA | Facilities operation | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | ORIX USA | Environment and energy services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 1,187 | 960 | 963 | ||
Operating Segment | ORIX USA | Real estate management and brokerage | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | ORIX USA | Real estate contract work | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | ORIX USA | Other | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 4,698 | 3,254 | 5,769 | ||
Operating Segment | ORIX Europe | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 219,207 | 150,388 | 150,044 | ||
Other revenues | 1,905 | [1] | 10,410 | (1,520) | |
Segment revenues /Total revenues | 221,112 | 160,798 | 148,524 | ||
Operating Segment | ORIX Europe | Sales of goods | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | ORIX Europe | Real estate sales | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | ORIX Europe | Asset Management and Servicing | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 219,132 | 150,302 | 149,675 | ||
Operating Segment | ORIX Europe | Automobile related services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | ORIX Europe | Facilities operation | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | ORIX Europe | Environment and energy services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | ORIX Europe | Real estate management and brokerage | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | ORIX Europe | Real estate contract work | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | ORIX Europe | Other | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 75 | 86 | 369 | ||
Operating Segment | Asia and Australia | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 15,112 | 12,552 | 18,785 | ||
Other revenues | 132,943 | [1] | 115,757 | 119,012 | |
Segment revenues /Total revenues | 148,055 | 128,309 | 137,797 | ||
Operating Segment | Asia and Australia | Sales of goods | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 577 | 65 | 487 | ||
Operating Segment | Asia and Australia | Real estate sales | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | Asia and Australia | Asset Management and Servicing | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 4 | ||
Operating Segment | Asia and Australia | Automobile related services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 13,630 | 11,874 | 16,950 | ||
Operating Segment | Asia and Australia | Facilities operation | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 363 | ||
Operating Segment | Asia and Australia | Environment and energy services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | Asia and Australia | Real estate management and brokerage | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | Asia and Australia | Real estate contract work | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | Asia and Australia | Other | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 905 | 613 | 981 | ||
Operating Segment | Japan | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 975,450 | 890,193 | 966,344 | ||
Operating Segment | Japan | Corporate Financial Services and Maintenance Leasing | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 127,918 | 122,232 | 121,845 | ||
Operating Segment | Japan | Real Estate | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 332,013 | 306,282 | 396,916 | ||
Operating Segment | Japan | PE Investment and Concession | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 349,077 | 323,762 | 293,940 | ||
Operating Segment | Japan | Environment and energy services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 154,311 | 130,077 | 143,623 | ||
Operating Segment | Japan | Insurance | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 2,062 | 1,667 | 1,023 | ||
Operating Segment | Japan | Banking and Credit | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 6,427 | 4,978 | 3,291 | ||
Operating Segment | Japan | Aircraft and Ships | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 3,642 | 1,194 | 5,678 | ||
Operating Segment | Japan | ORIX USA | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | Japan | ORIX Europe | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | Japan | Asia and Australia | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 1 | 28 | ||
Operating Segment | The Americas | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 104,747 | 85,527 | 99,979 | ||
Operating Segment | The Americas | Corporate Financial Services and Maintenance Leasing | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | The Americas | Real Estate | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | The Americas | PE Investment and Concession | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | The Americas | Environment and energy services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | The Americas | Insurance | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | The Americas | Banking and Credit | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | The Americas | Aircraft and Ships | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | The Americas | ORIX USA | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 27,100 | 23,278 | 32,929 | ||
Operating Segment | The Americas | ORIX Europe | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 77,647 | 62,249 | 67,050 | ||
Operating Segment | The Americas | Asia and Australia | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | Other Countries | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 165,791 | 113,917 | 111,944 | ||
Operating Segment | Other Countries | Corporate Financial Services and Maintenance Leasing | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 467 | 981 | 701 | ||
Operating Segment | Other Countries | Real Estate | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | Other Countries | PE Investment and Concession | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | Other Countries | Environment and energy services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 4,855 | 10,100 | 2,274 | ||
Operating Segment | Other Countries | Insurance | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | Other Countries | Banking and Credit | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | Other Countries | Aircraft and Ships | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 3,797 | 2,146 | 7,218 | ||
Operating Segment | Other Countries | ORIX USA | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Operating Segment | Other Countries | ORIX Europe | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 141,560 | 88,139 | 82,994 | ||
Operating Segment | Other Countries | Asia and Australia | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 15,112 | 12,551 | 18,757 | ||
Corporate And Intersegment Eliminations [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 110 | (2,082) | (3,954) | ||
Other revenues | (2,417) | [1] | (3,575) | 951 | |
Segment revenues /Total revenues | (2,307) | (5,657) | (3,003) | ||
Corporate And Intersegment Eliminations [Member] | Sales of goods | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 1,642 | 679 | 1,358 | ||
Corporate And Intersegment Eliminations [Member] | Real estate sales | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | (1) | 0 | 0 | ||
Corporate And Intersegment Eliminations [Member] | Asset Management and Servicing | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | (56) | (88) | (100) | ||
Corporate And Intersegment Eliminations [Member] | Automobile related services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 17 | (2) | 23 | ||
Corporate And Intersegment Eliminations [Member] | Facilities operation | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 742 | 510 | 1,538 | ||
Corporate And Intersegment Eliminations [Member] | Environment and energy services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | (1,928) | (1,433) | (722) | ||
Corporate And Intersegment Eliminations [Member] | Real estate management and brokerage | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | (2,385) | (1,515) | (2,265) | ||
Corporate And Intersegment Eliminations [Member] | Real estate contract work | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | (266) | (276) | (556) | ||
Corporate And Intersegment Eliminations [Member] | Other | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 2,345 | 43 | (3,230) | ||
Corporate And Intersegment Eliminations [Member] | Japan | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 219 | (1,956) | (1,703) | ||
Corporate And Intersegment Eliminations [Member] | The Americas | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | ||
Corporate And Intersegment Eliminations [Member] | Other Countries | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | ¥ (109) | ¥ (126) | ¥ (2,251) | ||
[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. |
Subsequent Events - Additional
Subsequent Events - Additional Information (Detail) - Common Stock ¥ in Billions | 12 Months Ended |
Mar. 31, 2022 JPY (¥) shares | |
Subsequent Event [Line Items] | |
Stock Repurchased During Period, Shares | shares | 40,000,000 |
Stock Repurchased During Period, Percentage | 3.30% |
Stock Repurchased During Period, Value | ¥ | ¥ 50 |
Stock Repurchase Program Period Description | May 18, 2022 to March 31, 2023 |
Schedule II.-Valuation and Qu_2
Schedule II.-Valuation and Qualifying Accounts and Reserves (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | ||
Restructuring cost | ||||
Valuation and Qualifying Accounts Disclosure [Line Items] | ||||
Balance at beginning of period | ¥ 252 | ¥ 690 | ¥ 2,049 | |
Acquisitions | 0 | 0 | 0 | |
Addition: Charged to costs and expenses | 2,781 | 0 | 73 | |
Deduction | (187) | (474) | (1,365) | |
Translation adjustment | 4 | 36 | (67) | |
Balance at end of period | 2,850 | 252 | 690 | |
Restructuring cost | Severance and other benefits to terminated employees | ||||
Valuation and Qualifying Accounts Disclosure [Line Items] | ||||
Balance at beginning of period | 252 | 690 | 2,049 | |
Acquisitions | 0 | 0 | 0 | |
Addition: Charged to costs and expenses | 2,781 | 0 | 73 | |
Deduction | (187) | (474) | (1,365) | |
Translation adjustment | 4 | 36 | (67) | |
Balance at end of period | 2,850 | 252 | 690 | |
Valuation Allowance of Deferred Tax Assets | ||||
Valuation and Qualifying Accounts Disclosure [Line Items] | ||||
Balance at beginning of period | 21,560 | 15,369 | 13,156 | |
Acquisitions | 1,403 | 805 | 522 | |
Addition: Charged to costs and expenses | 13,414 | 7,458 | 3,401 | |
Deduction | [1] | (2,445) | (2,487) | (1,677) |
Other | [2] | 1,223 | 415 | (33) |
Balance at end of period | ¥ 35,155 | ¥ 21,560 | ¥ 15,369 | |
[1]The amount of deduction includes benefits recognized in earnings, expiration of loss carryforwards and sales of subsidiaries. The amounts of benefits recognized in earnings were ¥890 million in fiscal 2020, ¥553 million in fiscal 2021 and ¥1,742 million in fiscal 2022.[2]The amount of other includes translation adjustment and the effect of changes in statutory tax rate. |
Schedule II.-Valuation and Qu_3
Schedule II.-Valuation and Qualifying Accounts and Reserves (Parenthetical) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2020 | |
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract] | |||
Valuation allowance reserves and benefits recognized in earnings | ¥ 1,742 | ¥ 553 | ¥ 890 |