Cover Page
Cover Page | 9 Months Ended |
Dec. 31, 2022 | |
Document Information [Line Items] | |
Document Type | 6-K |
Amendment Flag | false |
Document Period End Date | Dec. 31, 2022 |
Document Fiscal Year Focus | 2023 |
Entity Registrant Name | ORIX Corporation |
Entity Central Index Key | 0001070304 |
Current Fiscal Year End Date | --03-31 |
Document Fiscal Period Focus | Q3 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - JPY (¥) ¥ in Millions | Dec. 31, 2022 | Mar. 31, 2022 |
ASSETS | ||
Cash and Cash Equivalents | ¥ 951,148 | ¥ 954,827 |
Restricted Cash | 115,870 | 136,985 |
Net investment in Leases | 1,081,811 | 1,057,973 |
Installment Loans The amounts which are measured at fair value by electing the fair value option are as follows: March 31, 2022 ¥151,601 million December 31, 2022 ¥183,715 million | 3,921,205 | 3,862,604 |
Allowance for Credit Losses | (68,815) | (69,459) |
Investment in Operating Leases | 1,469,048 | 1,463,202 |
Investment in Securities The amounts which are measured at fair value by electing the fair value option are as follows: March 31, 2022 ¥19,353 million December 31, 2022 ¥25,314 million The amounts which are associated to available-for-sale debt securities are as follows: March 31, 2022 Amortized Cost ¥2,276,425 million Allowance for Credit Losses ¥(153) million December 31, 2022 Amortized Cost ¥2,460,127 million Allowance for Credit Losses ¥(159) million | 2,786,200 | 2,852,349 |
Property under Facility Operations | 574,679 | 561,846 |
Investment in Affiliates | 1,040,580 | 978,033 |
Trade Notes, Accounts and Other Receivable | 369,666 | 359,949 |
Inventories | 145,910 | 139,563 |
Office Facilities | 239,660 | 240,421 |
Other Assets The amounts which are measured at fair value by electing the fair value option are as follows: March 31, 2022 ¥5,214 million December 31, 2022 ¥5,138 million | 1,926,928 | 1,732,379 |
Total Assets | 14,553,890 | 14,270,672 |
Liabilities: | ||
Short-Term Debt | 445,537 | 439,639 |
Deposits | 2,310,212 | 2,276,158 |
Trade Notes, Accounts and Other Payable | 252,766 | 291,422 |
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, 2022 ¥198,905 million December 31, 2022 ¥ 162,958 million | 2,023,726 | 1,963,623 |
Income Taxes: | ||
Current and Deferred Income Taxes | 330,630 | 461,181 |
Long-Term Debt | 4,759,717 | 4,427,046 |
Other Liabilities | 1,072,104 | 1,040,202 |
Total Liabilities | 11,194,692 | 10,899,271 |
Redeemable Noncontrolling Interests | 974 | 0 |
Commitments and Contingent Liabilities | ||
Equity: | ||
Common Stock | 221,111 | 221,111 |
Additional Paid-in Capital | 261,305 | 260,479 |
Retained Earnings | 3,014,415 | 2,909,317 |
Accumulated Other Comprehensive Income (Loss) | (75,917) | (16,041) |
Treasury Stock, at Cost | (165,502) | (113,447) |
ORIX Corporation Shareholders' Equity | 3,255,412 | 3,261,419 |
Noncontrolling Interests | 102,812 | 109,982 |
Total Equity | 3,358,224 | 3,371,401 |
Total Liabilities and Equity | 14,553,890 | 14,270,672 |
Variable Interest Entity, Primary Beneficiary | ||
ASSETS | ||
Cash and Cash Equivalents | 5,144 | 3,899 |
Installment Loans (Net of Allowance for Credit Losses) | 217,273 | 212,371 |
Investment in Operating Leases | 65,398 | 101,881 |
Property under Facility Operations | 162,695 | 210,307 |
Investment in Affiliates | 50,446 | 51,877 |
Other Assets The amounts which are measured at fair value by electing the fair value option are as follows: March 31, 2022 ¥5,214 million December 31, 2022 ¥5,138 million | 72,628 | 95,613 |
Total Assets | 573,584 | 675,948 |
Liabilities: | ||
Trade Notes, Accounts and Other Payable | 1,753 | 2,251 |
Income Taxes: | ||
Long-Term Debt | 354,236 | 431,312 |
Other Liabilities | 26,913 | 38,891 |
Total Liabilities | ¥ 382,902 | ¥ 472,454 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - JPY (¥) ¥ in Millions | Dec. 31, 2022 | Mar. 31, 2022 |
Installment Loans, fair value | ¥ 182,700 | ¥ 151,601 |
Investment in securities, measured at fair value | 25,314 | 19,353 |
Amortized Cost | 2,460,127 | 2,276,425 |
Available-for-sale debt securities, Allowance for credit losses | (159) | (153) |
Other assets, measured at fair value | 5,138 | 5,214 |
Policy liabilities and Policy Account Balances | ¥ 162,958 | ¥ 198,905 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | |
Revenues: | ||||
Total revenues | ¥ 630,028 | ¥ 626,579 | ¥ 1,994,844 | ¥ 1,868,113 |
Expenses: | ||||
Interest expense | 37,158 | 17,026 | 88,631 | 50,458 |
Costs of operating leases | 84,700 | 81,536 | 249,541 | 241,114 |
Life insurance costs | 67,852 | 88,789 | 290,345 | 263,004 |
Costs of goods and real estate sold | 40,770 | 80,978 | 272,979 | 285,160 |
Services expense | 153,485 | 132,918 | 421,259 | 356,548 |
Other (income) and expense | 5,432 | 1,796 | 12,373 | (8,762) |
Selling, general and administrative expenses | 144,333 | 132,640 | 412,287 | 378,524 |
Provision for Credit Losses | 6,033 | 2,564 | 7,707 | 4,670 |
Write-downs of long-lived assets | 1,554 | 14,980 | 1,807 | 15,068 |
Write-downs of securities | 536 | 150 | 607 | 210 |
Total expenses | 541,853 | 553,377 | 1,757,536 | 1,585,994 |
Operating Income | 88,175 | 73,202 | 237,308 | 282,119 |
Equity in Net Income of Affiliates | 11,651 | 3,066 | 18,275 | 8,465 |
Gains on Sales of Subsidiaries and Affiliates and Liquidation Losses, net | 18,283 | 19,632 | 26,872 | 26,105 |
Bargain Purchase Gain | 1,018 | 0 | 1,018 | 0 |
Income before Income Taxes | 119,127 | 95,900 | 283,473 | 316,689 |
Provision for Income Taxes | 28,078 | 32,891 | 66,815 | 100,961 |
Net Income | 91,049 | 63,009 | 216,658 | 215,728 |
Net Income (Loss) Attributable to the Noncontrolling Interests | 1,426 | (1,650) | 5,247 | 4,387 |
Net Income Attributable to the Redeemable Noncontrolling Interests | 11 | 0 | 23 | 0 |
Net Income Attributable to ORIX Corporation Shareholders | ¥ 89,612 | ¥ 64,659 | ¥ 211,388 | ¥ 211,341 |
Basic: | ||||
Net Income Attributable to ORIX Corporation Shareholders | ¥ 76.3 | ¥ 54 | ¥ 178.63 | ¥ 175.17 |
Diluted: | ||||
Net Income Attributable to ORIX Corporation Shareholders | ¥ 76.2 | ¥ 53.94 | ¥ 178.41 | ¥ 174.98 |
Finance Revenues | ||||
Revenues: | ||||
Total revenues | ¥ 83,857 | ¥ 71,952 | ¥ 237,008 | ¥ 209,143 |
Gains on investment securities and dividends | ||||
Revenues: | ||||
Total revenues | 19,914 | 2,646 | 19,168 | 48,390 |
Operating Leases | ||||
Revenues: | ||||
Total revenues | 119,616 | 113,035 | 368,760 | 340,968 |
Life Insurance Premiums And Related Investment Income | ||||
Revenues: | ||||
Total revenues | 93,106 | 115,904 | 356,317 | 348,701 |
Sales of Goods and Real Estate | ||||
Revenues: | ||||
Total revenues | 51,959 | 93,263 | 316,979 | 323,918 |
Services Income | ||||
Revenues: | ||||
Total revenues | ¥ 261,576 | ¥ 229,779 | ¥ 696,612 | ¥ 596,993 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | |
Statement of Comprehensive Income [Abstract] | ||||
Net Income | ¥ 91,049 | ¥ 63,009 | ¥ 216,658 | ¥ 215,728 |
Other comprehensive income (loss), net of tax: | ||||
Net change of unrealized gains (losses) on investment in securities | (38,516) | 4,253 | (182,383) | 12,573 |
Net change of debt valuation adjustments | (48) | 7 | 12 | (54) |
Net change of defined benefit pension plans | 124 | 17 | (192) | 166 |
Net change of foreign currency translation adjustments | (77,765) | 25,420 | 107,330 | 40,352 |
Net change of unrealized gains on derivative instruments | 2,646 | 3,516 | 21,177 | 5,686 |
Total other comprehensive income (loss) | (113,559) | 33,213 | (54,056) | 58,723 |
Comprehensive Income (loss) | (22,510) | 96,222 | 162,602 | 274,451 |
Comprehensive Income (loss) Attributable to the Noncontrolling Interests | (2,116) | (365) | 11,065 | 6,354 |
Comprehensive Income (loss) Attributable to the Redeemable Noncontrolling Interests | (75) | 0 | 25 | 0 |
Comprehensive Income (loss) Attributable to ORIX Corporation Shareholders | ¥ (20,319) | ¥ 96,587 | ¥ 151,512 | ¥ 268,097 |
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, 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 | ||||
Beginning Balance (Accounting Standards Update 2019-12) at Mar. 31, 2021 | ¥ 215 | ¥ 215 | ¥ 215 | ¥ 0 | ||||||||||||||||
Contribution to subsidiaries | 28,924 | 0 | 28,924 | |||||||||||||||||
Transaction with noncontrolling interests | 1,334 | 1,609 | (1,475) | 134 | 1,200 | |||||||||||||||
Comprehensive income, net of tax: | ||||||||||||||||||||
Net income (loss) | 215,728 | 211,341 | 211,341 | 4,387 | ||||||||||||||||
Other comprehensive income (loss) | ||||||||||||||||||||
Net change of unrealized gains (losses) on investment in securities | 12,573 | 12,573 | 12,573 | 0 | ||||||||||||||||
Net change of debt valuation adjustments | (54) | (54) | (54) | 0 | ||||||||||||||||
Net change of defined benefit pension plans | 166 | 167 | 167 | (1) | ||||||||||||||||
Net change of foreign currency translation adjustments | 40,352 | 38,679 | 38,679 | 1,673 | ||||||||||||||||
Net change of unrealized gains on derivative instruments | 5,686 | 5,391 | 5,391 | 295 | ||||||||||||||||
Total other comprehensive income (loss) | 58,723 | 56,756 | 1,967 | |||||||||||||||||
Total comprehensive income (loss) | 274,451 | 268,097 | 6,354 | |||||||||||||||||
Cash dividends | (113,756) | (99,395) | (99,395) | (14,361) | ||||||||||||||||
Acquisition of treasury stock | (50,001) | (50,001) | (50,001) | 0 | ||||||||||||||||
Disposal of treasury stock | 6 | (12) | 18 | 6 | 0 | |||||||||||||||
Other, net | 448 | 449 | (1) | 448 | 0 | |||||||||||||||
Ending Balance at Dec. 31, 2021 | 3,244,765 | 221,111 | 261,407 | 2,856,748 | (29,369) | (161,937) | 3,147,960 | 96,805 | ||||||||||||
Beginning Balance at Sep. 30, 2021 | 3,208,499 | 221,111 | 259,802 | 2,839,047 | (59,822) | (142,484) | 3,117,654 | 90,845 | ||||||||||||
Contribution to subsidiaries | 884 | 0 | 884 | |||||||||||||||||
Transaction with noncontrolling interests | 7,047 | 1,589 | (1,475) | 114 | 6,933 | |||||||||||||||
Comprehensive income, net of tax: | ||||||||||||||||||||
Net income (loss) | 63,009 | 64,659 | 64,659 | (1,650) | ||||||||||||||||
Other comprehensive income (loss) | ||||||||||||||||||||
Net change of unrealized gains (losses) on investment in securities | 4,253 | 4,253 | 4,253 | 0 | ||||||||||||||||
Net change of debt valuation adjustments | 7 | 7 | 7 | 0 | ||||||||||||||||
Net change of defined benefit pension plans | 17 | 17 | 17 | 0 | ||||||||||||||||
Net change of foreign currency translation adjustments | 25,420 | 24,362 | 24,362 | 1,058 | ||||||||||||||||
Net change of unrealized gains on derivative instruments | 3,516 | 3,289 | 3,289 | 227 | ||||||||||||||||
Total other comprehensive income (loss) | 33,213 | 31,928 | 1,285 | |||||||||||||||||
Total comprehensive income (loss) | 96,222 | 96,587 | (365) | |||||||||||||||||
Cash dividends | (48,449) | (46,957) | (46,957) | (1,492) | ||||||||||||||||
Acquisition of treasury stock | (19,454) | (19,454) | (19,454) | 0 | ||||||||||||||||
Other, net | 16 | 16 | (1) | 1 | 16 | 0 | ||||||||||||||
Ending Balance at Dec. 31, 2021 | 3,244,765 | 221,111 | 261,407 | 2,856,748 | (29,369) | (161,937) | 3,147,960 | 96,805 | ||||||||||||
Beginning Balance at Mar. 31, 2022 | 3,371,401 | 221,111 | 260,479 | 2,909,317 | (16,041) | (113,447) | 3,261,419 | 109,982 | ||||||||||||
Contribution to subsidiaries | 3,098 | 0 | 3,098 | |||||||||||||||||
Transaction with noncontrolling interests | (3,690) | 235 | 235 | (3,925) | ||||||||||||||||
Comprehensive income, net of tax: | ||||||||||||||||||||
Net income (loss) | 216,635 | 211,388 | 211,388 | 5,247 | ||||||||||||||||
Other comprehensive income (loss) | ||||||||||||||||||||
Net change of unrealized gains (losses) on investment in securities | (182,383) | (182,383) | (182,383) | 0 | ||||||||||||||||
Net change of debt valuation adjustments | 12 | 12 | 12 | 0 | ||||||||||||||||
Net change of defined benefit pension plans | (192) | (190) | (190) | (2) | ||||||||||||||||
Net change of foreign currency translation adjustments | 107,328 | 103,471 | 103,471 | 3,857 | ||||||||||||||||
Net change of unrealized gains on derivative instruments | 21,177 | 19,214 | 19,214 | 1,963 | ||||||||||||||||
Total other comprehensive income (loss) | (54,058) | (59,876) | 5,818 | |||||||||||||||||
Total comprehensive income (loss) | 162,577 | 151,512 | 11,065 | |||||||||||||||||
Cash dividends | (123,698) | (106,290) | (106,290) | (17,408) | ||||||||||||||||
Acquisition of treasury stock | (52,071) | (52,071) | (52,071) | 0 | ||||||||||||||||
Disposal of treasury stock | (13) | (29) | 16 | (13) | 0 | |||||||||||||||
Other, net | 620 | 620 | 620 | 0 | ||||||||||||||||
Ending Balance at Dec. 31, 2022 | 3,358,224 | 221,111 | 261,305 | 3,014,415 | (75,917) | (165,502) | 3,255,412 | 102,812 | ||||||||||||
Beginning Balance at Sep. 30, 2022 | 3,451,221 | 221,111 | 260,880 | 2,975,389 | 34,014 | (146,582) | 3,344,812 | 106,409 | ||||||||||||
Contribution to subsidiaries | 1,376 | 0 | 1,376 | |||||||||||||||||
Transaction with noncontrolling interests | (255) | 249 | 249 | (504) | ||||||||||||||||
Comprehensive income, net of tax: | ||||||||||||||||||||
Net income (loss) | 91,038 | 89,612 | 89,612 | 1,426 | ||||||||||||||||
Other comprehensive income (loss) | ||||||||||||||||||||
Net change of unrealized gains (losses) on investment in securities | (38,516) | (38,516) | (38,516) | 0 | ||||||||||||||||
Net change of debt valuation adjustments | (48) | (48) | (48) | 0 | ||||||||||||||||
Net change of defined benefit pension plans | 124 | 128 | 128 | (4) | ||||||||||||||||
Net change of foreign currency translation adjustments | (77,679) | (73,650) | (73,650) | (4,029) | ||||||||||||||||
Net change of unrealized gains on derivative instruments | 2,646 | 2,155 | 2,155 | 491 | ||||||||||||||||
Total other comprehensive income (loss) | (113,473) | (109,931) | (3,542) | |||||||||||||||||
Total comprehensive income (loss) | (22,435) | (20,319) | (2,116) | |||||||||||||||||
Cash dividends | (52,939) | (50,586) | (50,586) | (2,353) | ||||||||||||||||
Acquisition of treasury stock | (18,920) | (18,920) | (18,920) | 0 | ||||||||||||||||
Other, net | 176 | 176 | 176 | 0 | ||||||||||||||||
Ending Balance at Dec. 31, 2022 | ¥ 3,358,224 | ¥ 221,111 | ¥ 261,305 | ¥ 3,014,415 | ¥ (75,917) | ¥ (165,502) | ¥ 3,255,412 | ¥ 102,812 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - JPY (¥) ¥ in Millions | 9 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Cash Flows from Operating Activities: | ||
Net income | ¥ 216,658 | ¥ 215,728 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 260,411 | 246,784 |
Principal payments received under net investment in leases | 356,246 | 332,739 |
Provision for credit losses | 7,707 | 4,670 |
Equity in net income of affiliates (excluding interest on loans) | (16,991) | (7,540) |
Gains on sales of subsidiaries and affiliates and liquidation losses, net | (26,872) | (26,105) |
Bargain purchase gain | (1,018) | 0 |
Gains on sales of securities other than trading | (10,126) | (17,777) |
Gains on sales of operating lease assets | (39,153) | (34,950) |
Write-downs of long-lived assets | 1,807 | 15,068 |
Write-downs of securities | 607 | 210 |
Decrease in trading securities | 33,213 | 48,510 |
Increase in inventories | (21,361) | (5,631) |
Decrease in trade notes, accounts and other receivable | 20,913 | 15,596 |
Decrease in trade notes, accounts and other payable | (30,761) | (32,137) |
Increase in policy liabilities and policy account balances | 60,103 | 90,052 |
Other, net | (231,759) | (79,688) |
Net cash provided by operating activities | 579,624 | 765,529 |
Cash Flows from Investing Activities: | ||
Purchases of lease equipment | (702,030) | (642,313) |
Installment loans made to customers | (922,354) | (913,137) |
Principal collected on installment loans | 938,810 | 884,208 |
Proceeds from sales of operating lease assets | 180,743 | 114,190 |
Investment in affiliates, net | (27,465) | (27,000) |
Proceeds from sales of investment in affiliates | 78,151 | 41,890 |
Purchases of available-for-sale debt securities | (401,335) | (405,856) |
Proceeds from sales of available-for-sale debt securities | 246,811 | 192,520 |
Proceeds from redemption of available-for-sale debt securities | 36,194 | 82,726 |
Purchases of equity securities other than trading | (52,319) | (56,957) |
Proceeds from sales of equity securities other than trading | 39,719 | 57,138 |
Purchases of property under facility operations | (74,858) | (26,889) |
Acquisitions of subsidiaries, net of cash acquired | (45,696) | (91,040) |
Sales of subsidiaries, net of cash disposed | 20,242 | 14,155 |
Other, net | (6,331) | 3,100 |
Net cash used in investing activities | (691,718) | (773,265) |
Cash Flows from Financing Activities: | ||
Net increase (decrease) in debt with maturities of three months or less | (25,236) | 318,710 |
Proceeds from debt with maturities longer than three months | 1,085,793 | 608,530 |
Repayment of debt with maturities longer than three months | (835,816) | (779,091) |
Net increase (decrease) in deposits due to customers | 33,284 | (36,722) |
Cash dividends paid to ORIX Corporation shareholders | (106,290) | (99,395) |
Acquisition of treasury stock | (52,071) | (50,001) |
Contribution from noncontrolling interests | 3,390 | 14,253 |
Purchases of shares of subsidiaries from noncontrolling interests | (1,724) | (1,991) |
Net decrease in call money | (15,000) | (7,500) |
Other, net | (17,063) | (14,997) |
Net cash provided by (used in) financing activities | 69,267 | (48,204) |
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash | 18,033 | 7,530 |
Net decrease in Cash, Cash Equivalents and Restricted Cash | (24,794) | (48,410) |
Cash, Cash Equivalents and Restricted Cash at Beginning of Period | 1,091,812 | 1,079,575 |
Cash, Cash Equivalents and Restricted Cash at End of Period | ¥ 1,067,018 | ¥ 1,031,165 |
CONSOLIDATED STATEMENTS OF CA_2
CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - JPY (¥) ¥ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Statement of Cash Flows [Abstract] | ||
Cash and Cash Equivalents | ¥ 951,148 | ¥ 896,039 |
Restricted Cash | 115,870 | 135,126 |
Cash, Cash Equivalents and Restricted Cash | ¥ 1,067,018 | ¥ 1,031,165 |
Overview of Accounting Principl
Overview of Accounting Principles Utilized | 9 Months Ended |
Dec. 31, 2022 | |
Accounting Policies [Abstract] | |
Overview of Accounting Principles Utilized | 1. Overview of Accounting Principles Utilized In preparing the accompanying consolidated financial statements, ORIX Corporation (the “Company”) and its subsidiaries have complied with generally accepted accounting principles in the United States (“U.S. GAAP”). These statements include all adjustments (consisting of normal recurring accruals) that we considered necessary to present a fair statement of our results of operations, financial position and cash flows. The results reported in these consolidated financial statements should not be regarded as necessarily indicative of results that may be expected for the entire year. These consolidated financial statements should be read in conjunction with the financial statements and notes thereto included in our March 31, 2022 consolidated financial statements on Form 20-F. Since the Company listed on the New York Stock Exchange in September 1998, the Company has filed the annual report (Form 20-F) Significant differences between U.S. GAAP and generally accepted accounting principles in Japan (“Japanese GAAP”) are as follows: (a) Initial direct costs Under U.S. GAAP, initial direct costs of sales-type leases and direct financing leases are mainly being deferred and amortized as a yield adjustment over the life of the related lease using the interest method. Initial direct costs of operating leases are being deferred and amortized on a straight-line basis over the life of the related lease. Initial direct costs of loans are mainly being deferred and amortized over the term of the related loans using the interest method. Under Japanese GAAP, those initial direct costs are recognized as expenses when they are incurred. (b) Allowance for credit losses Under U.S. GAAP, the allowance for credit losses to financial assets not individually evaluated is accounted for estimating all credit losses expected to occur in future over the remaining life. And for the credit losses over the remaining life resulting from off-balance Under Japanese GAAP, the allowance for loan losses to financial receivables, etc. not individually evaluated is accounted for based on the prior charge-off (c) Operating leases Under U.S. GAAP, revenues from operating leases are recognized on a straight-line basis over the contract terms. Operating lease assets are depreciated over their estimated useful lives mainly on a straight-line basis. Japanese GAAP allows for operating lease assets to be depreciated using mainly either a declining-balance basis or a straight-line basis. (d) Accounting for life insurance operations Under U.S. GAAP, certain costs related directly to the successful acquisition of new (or renewal of) insurance contracts are deferred and amortized over the respective policy periods in proportion to anticipated premium revenue. Under Japanese GAAP, such costs are recorded as expenses currently in earnings in each accounting period. In addition, under U.S. GAAP, policy liabilities for future policy benefits are established using the net level premium method based on actuarial estimates of the amount of future policyholder benefits. Under Japanese GAAP, these are calculated by the methodology which relevant authorities accept. (e) Accounting for goodwill and other intangible assets in business combinations Under U.S. GAAP, goodwill and indefinite-lived intangible assets are not amortized, but assessed for impairment at least annually. Additionally, if events or changes in circumstances indicate that the asset might be impaired, the Company and its subsidiaries test for impairment when such events or changes occur. Under Japanese GAAP, goodwill is amortized over an appropriate period up to 20 years. (f) Accounting for pension plans Under U.S. GAAP, the net actuarial gain (loss) is amortized using the corridor approach. Under Japanese GAAP, the net actuarial gain (loss) is fully amortized over a certain term within the average remaining service period of employees. (g) Partial sale of the parent’s ownership interest in subsidiaries Under U.S. GAAP, in a transaction that results in the loss of control, the gain or loss recognized in income includes the realized gain or loss related to the portion of ownership interest sold and the gain or loss on the remeasurement to fair value of the interest retained. Under Japanese GAAP, in a transaction that results in the loss of control, only the realized gain or loss related to the portion of ownership interest sold is recognized in income and the gain or loss on the remeasurement to fair value of the interest retained is not recognized. (h) Consolidated statements of cash flows Classification in the statements of cash flows under U.S. GAAP differs from that under Japanese GAAP. As significant differences, purchase of lease equipment, proceeds from sales of operating lease assets, installment loans made to customers and principal collected on installment loans (excluding issues and collections of loans held for sale) are included in “Cash Flows from Investing Activities” under U.S. GAAP while they are classified as “Cash Flows from Operating Activities” under Japanese GAAP. Under U.S. GAAP, in addition, restricted cash is required to be added to the balance of cash and cash equivalents. (i) Transfer of financial assets Under U.S. GAAP, an entity is required to perform analysis to determine whether or not to consolidate trusts or special purpose companies, collectively called special purpose entities (“SPEs”) for securitization under the VIE’s consolidation rules. If it is determined from the analysis that the enterprise transferred financial assets in a securitization transaction to a SPE that needs to be consolidated, the transaction is not accounted for as a sale. In addition, if the transferor transfers a portion of financial assets, the transaction is not accounted for as a sale but accounted for as a secured borrowing unless each interest held by the transferor and transferee meets the definition of a participating interest and the transfer of a portion of financial assets meets criteria for derecognition of transferred financial assets. Under Japanese GAAP, a SPE that meets certain conditions may be considered not to be a subsidiary of the transferor. Therefore, if an enterprise transfers financial assets to this type of SPE in a securitization transaction, the transferee SPE is not required to be consolidated, and the enterprise accounts for the transaction as a sale and recognizes a gain or loss on the sale into earnings when control over the transferred assets is surrendered. In addition, if the transferor transfers a portion of financial assets, the enterprise accounts for the transaction as a sale and recognizes a gain or loss on the sale into earnings when the transfer of a portion of financial assets meets criteria for derecognition of transferred financial assets. (j) Investment in securities Under U.S. GAAP, unrealized gains and losses from all equity securities are generally recognized in income. In addition, credit losses on available-for-sale available-for-sale Under Japanese GAAP, such unrealized gains and losses from securities other than trading or held-to-maturity (k) Fair value option Under U.S. GAAP, an entity is permitted to carry certain eligible financial assets and liabilities at fair value and to recognize changes in that item’s fair value in earnings through the election of the fair value option. The portion of the total change in the fair value of the financial liability that results from a change in the instrument-specific credit risk is to be recognized in other comprehensive income (loss), net of applicable income taxes. Under Japanese GAAP, there is no accounting standard for fair value option. (l) Lessee’s lease Under U.S. GAAP, right-of-use Under Japanese GAAP, operating leases from the lessee’s lease transaction are off-balance |
Significant Accounting and Repo
Significant Accounting and Reporting Policies | 9 Months Ended |
Dec. 31, 2022 | |
Accounting Policies [Abstract] | |
Significant Accounting and Reporting Policies | 2. Significant Accounting and Reporting Policies (a) Principles of consolidation The consolidated financial statements include the accounts of the Company and all of its subsidiaries. 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. 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. (b) Use of estimates The preparation of consolidated financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The Company has identified ten areas where it believes assumptions and estimates are particularly critical to the financial statements. The Company makes estimates and assumptions to the selection of valuation techniques and determination of assumptions used in fair value measurements, the determination and periodic reassessment of the unguaranteed residual value for finance leases and operating leases, the determination and reassessment of insurance policy liabilities and deferred policy acquisition costs, the determination of the allowance for credit losses (including the allowance for off-balance In addition, we carefully considered the future outlook regarding the spread of the COVID-19 COVID-19 (c) Foreign currencies translation The Company and its subsidiaries maintain their accounting records in their functional currency. Transactions in foreign currencies are recorded in the entity’s functional currency based on the prevailing exchange rates on the transaction date. Monetary assets and liabilities in foreign currencies are recorded in the entity’s functional currency based on the prevailing exchange rates at the end of each fiscal year. The financial statements of overseas subsidiaries and affiliates are translated into Japanese yen by applying the exchange rates in effect at the end of each fiscal year to all assets and liabilities. Income and expenses are translated at the average rates of exchange prevailing during the fiscal year. The currencies in which the operations of the overseas subsidiaries and affiliates are conducted are regarded as the functional currencies of these companies. Foreign currency translation adjustments reflected in other comprehensive income (loss), net of applicable income taxes, arise from the translation of foreign currency financial statements into Japanese yen. (d) Revenue recognition The Company and its subsidiaries recognize revenues from only contracts with customers, such as sales of goods and real estate, and services income, 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 repayment of 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, which was ¥819,839 million and ¥852,709 million as of March 31, 2022 and December 31, 2022, respectively. In addition, operating lease assets are depreciated over their estimated useful lives mainly on a straight-line basis. 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. (e) Insurance and reinsurance transactions Premium income from life insurance policies, net of premiums on reinsurance ceded, is recognized as earned premiums when due. Life insurance benefits are recorded as expenses when they are incurred. Policy liabilities and policy account balances for future policy benefits are measured using the net level premium method, based on actuarial estimates of the amount of future policyholder benefits. The policies are characterized as long-duration policies and mainly consist of whole life, term life, endowments, medical insurance and individual annuity insurance contracts. For policies other than individual annuity insurance contracts, computation of policy liabilities necessarily includes assumptions about mortality, morbidity, lapse rates, future yields on related investments and other factors applicable at the time the policies are written. A certain subsidiary continually evaluates the potential for changes in the estimates and assumptions applied in determining policy liabilities, both positive and negative, and uses the results of these evaluations both to adjust recorded liabilities and to adjust underwriting criteria and product offerings. The insurance contracts sold by the subsidiary include variable annuity, variable life and fixed annuity insurance contracts. The subsidiary manages investment assets on behalf of variable annuity and variable life policyholders, which consist of equity securities and are included in investment in securities in the consolidated balance sheets. These investment assets are measured at fair value with realized and unrealized gains or losses recognized in life insurance premiums and related investment income in the consolidated statements of income. The subsidiary elected the fair value option for the entire variable annuity and variable life insurance contracts with changes in the fair value recognized in life insurance costs. The subsidiary provides minimum guarantees to variable annuity and variable life policyholders under which it is exposed to the risk of compensating losses incurred by the policyholders to the extent contractually required. To mitigate the risk, a portion of the minimum guarantee risk related to variable annuity and variable life insurance contracts is ceded to reinsurance companies and the remaining risk is economically hedged by entering into derivative contracts. The reinsurance contracts do not relieve the subsidiary from the obligation as the primary obligor to compensate certain losses incurred by the policyholders, and the default of the reinsurance companies may impose additional losses on the subsidiary. Certain subsidiaries have elected the fair value option for certain reinsurance contracts relating to variable annuity and variable life insurance contracts, which are included in other assets in the consolidated balance sheets. Policy liabilities and policy account balances for fixed annuity insurance contracts are measured based on the single-premiums plus interest based on expected rate and fair value adjustments relating to the acquisition of the subsidiary, less withdrawals, expenses and other charges. The credited interest is recorded in life insurance costs in the consolidated statements of income. Certain costs related directly to the successful acquisition of new or renewal insurance contracts, or deferred policy acquisition costs are deferred and amortized over the respective policy periods in proportion to anticipated premium revenue. These deferred policy acquisition costs consist primarily of agent commissions, except for recurring policy maintenance costs and certain variable costs and expenses for underwriting policies. (f) Allowance for credit losses 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 (g) Impairment of long-lived assets The Company and its subsidiaries perform a recoverability test for long-lived assets to be held and used in operations, including tangible assets and intangible assets being 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. (h) Investment in securities Equity securities are generally reported at fair value with unrealized gains and losses included in income. Equity securities without readily determinable fair values are recorded at 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 Held-to-maturity Held-to-maturity (i) Income taxes The Company, in general, determines its provision for income taxes for quarterly periods by applying the current estimate of the effective tax rate for the full fiscal year to the actual year-to-date At the fiscal year end, income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, and for tax loss carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the year in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rate is recognized in income in the period that includes the enactment date. The Company and its subsidiaries release to earnings stranded income tax effects in accumulated other comprehensive income (loss) resulting from changes in tax laws or rates or changes in judgment about realization of a valuation allowance on a specific identification basis when the individual items are completely sold or terminated. A valuation allowance is recognized if, based on the weight of available evidence, it is “more likely than not” that some portion or all of the deferred tax asset will not be realized. The effective income tax rates for the nine months ended December 31, 2021 and 2022 were approximately 31.9% and 23.6%, respectively. These rates are approximately 34.3% and 23.6% for the three months ended December 31, 2021 and 2022, respectively. For the nine non-taxable 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. (j) Securitized assets The Company and its subsidiaries have securitized and sold to investors various financial assets such as lease receivables and loan receivables. In the securitization process, the assets to be securitized are sold to SPEs that issue asset-backed beneficial interests and securities to the investors. SPEs used in securitization transactions are consolidated if the Company and its subsidiaries are the primary beneficiary of the SPEs, and the transfers of the financial assets to those consolidated SPEs are not accounted for as sales. Assets held by consolidated SPEs continue to be accounted for as lease receivables or loan receivables, as they were before the transfer, and asset-backed beneficial interests and securities issued to the investors are accounted for as debt. When the Company and its subsidiaries have transferred financial assets to a transferee that is not subject to consolidation, the Company and its subsidiaries account for the transfer as a sale if control over the transferred assets is surrendered. The Company and certain subsidiaries originate and sell loans into the secondary market, while retaining the obligation to service those loans. In addition, a certain subsidiary undertakes obligations to service loans originated by others. The subsidiary recognizes servicing assets if it expects the benefit of servicing to more than adequately compensate it for performing the servicing or recognizes servicing liabilities if it expects the benefit of servicing to less than adequately compensate it. These servicing assets and liabilities are initially recognized at fair value and subsequently accounted for using the amortization method whereby the assets and liabilities are amortized in proportion to and over the period of estimated net servicing income or net servicing loss. On a quarterly basis, servicing assets and liabilities are evaluated for impairment or increased obligations. The fair value of servicing assets and liabilities is estimated using an internal valuation model, or by obtaining an opinion of value from an independent third-party vendor. Both methods are based on calculating the present value of estimated future net servicing cash flows, taking into consideration discount rates, prepayments and servicing costs. The internal valuation model is validated at least semiannually through third-party valuations. (k) Derivative financial instruments The Company and its subsidiaries recognize all derivatives on the consolidated balance sheets at fair value. The accounting treatment of subsequent changes in the fair value depends on their use, and whether they qualify as effective “hedges” for accounting purposes. Derivatives for the purpose of trading or 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. (l) Pension plans The Company and certain subsidiaries have contributory and non-contributory The Company and its subsidiaries also recognize the funded status of pension plans, measured as the difference between the fair value of plan assets and the benefit obligation, on the consolidated balance sheets. Changes in that funded status are recognized in the year in which the changes occur through other comprehensive income (loss), net of applicable income taxes. (m) Stock-based compensation In principle, the Company and its subsidiaries measure stock-based compensation expense as consideration for services provided by employees based on the fair value on the grant date. The costs are recognized over the requisite service period. (n) 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. (o) Installment loans Certain loans, for which the Company and its subsidiaries have the intent and ability to sell to outside parties in the foreseeable future, are considered held for sale and are carried at the lower of cost or 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, 2022 and December 31, 2022 were ¥155,680 million and ¥186,472 million, respectively. There were ¥151,601 million and ¥182,700 million of loans held for sale as of March 31, 2022 and December 31, 2022, respectively, measured at fair value by electing the fair value option. (p) Property under facility operations Property under facility operations consist primarily of operating facilities (including hotels and training facilities) and environmental assets (including mega solar facilities, wind power plants and coal-biomass co-fired (q) 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, 2022 and December 31, 2022, residential condominiums under development were ¥62,414 million and ¥82,743 million, respectively, and completed residential condominiums and merchandise for sale were ¥77,149 million and ¥63,167 million, respectively. The Company and its subsidiaries recorded ¥10,194 million and ¥508 million of write-downs principally on completed residential condominiums and merchandise for sale for the nine months ended December 31, 2021 and 2022, respectively, primarily resulting from a decrease in expected sales price. The amount of such write-downs recorded for the three months ended December 31, 2021 were ¥ 280 million. There were no (r) Office facilities Office facilities are stated at cost less accumulated depreciation. Depreciation is calculated on a declining-balance basis or straight-line basis over the estimated useful lives of the assets. Accumulated depreciation was ¥73,063 million and ¥75,578 million as of March 31, 2022 and December 31, 2022, respectively. (s) Right-of-use The Company and its subsidiaries record the ROU assets recognized from the lessee’s lease transaction as investment in operating leases, property under facility operations and office facilities. Lease liabilities are included in other liabilities. ROU assets are 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. (t) 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. (u) 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 considerat |
Fair Value Measurements
Fair Value Measurements | 9 Months Ended |
Dec. 31, 2022 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | 3. Fair Value Measurements The Company and its subsidiaries classify and prioritize inputs used in valuation techniques to measure fair value into the following three levels: Level 1 — Inputs of quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 2 — Inputs other than quoted prices included within Level 1 that are observable for the assets or liabilities, either directly or indirectly. Level 3 — Unobservable inputs for the assets or liabilities. The Company and its subsidiaries differentiate between those assets and liabilities required to be carried at fair value at every reporting period (“recurring”) and those assets and liabilities that are only required to be adjusted to fair value under certain circumstances (“nonrecurring”). The Company and its subsidiaries mainly measure certain loans held for sale, trading debt securities, available-for-sale The following tables present recorded amounts of major financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2022 and December 31, 2022: 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 December 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 ¥ 182,700 ¥ 0 ¥ 6,645 ¥ 176,055 Trading debt securities 2,968 0 2,968 0 Available-for-sale 2,107,359 5,087 1,899,591 202,681 Japanese and foreign government bond securities*2 746,085 3,800 742,285 0 Japanese prefectural and foreign municipal bond securities 354,010 0 350,700 3,310 Corporate debt securities*3 772,155 1,287 764,687 6,181 CMBS and RMBS in the Americas 40,942 0 40,942 0 Other asset-backed securities and debt securities 194,167 0 977 193,190 Equity securities*4*5 355,370 100,108 127,944 127,318 Derivative assets: 119,793 1,156 111,607 7,030 Interest rate swap agreements 25,840 0 25,840 0 Options held/written and other 39,610 0 32,580 7,030 Futures, foreign exchange contracts 53,782 1,156 52,626 0 Foreign currency swap agreements 561 0 561 0 Netting*6 (16,464 ) 0 0 0 Net derivative assets 103,329 0 0 0 Other assets: 5,138 0 0 5,138 Reinsurance recoverables*7 5,138 0 0 5,138 Total ¥ 2,773,328 ¥ 106,351 ¥ 2,148,755 ¥ 518,222 Liabilities: Derivative liabilities: ¥ 59,775 ¥ 380 ¥ 39,492 ¥ 19,903 Interest rate swap agreements 1,389 0 1,389 0 Options held/written and other 36,858 0 16,955 19,903 Futures, foreign exchange contracts 17,454 380 17,074 0 Foreign currency swap agreements 4,070 0 4,070 0 Credit derivatives written 4 0 4 0 Netting*6 (16,464 ) 0 0 0 Net derivative Liabilities 43,311 0 0 0 Policy Liabilities and Policy Account Balances: 162,958 0 0 162,958 Variable annuity and variable life insurance contracts*8 162,958 0 0 162,958 Total ¥ 222,733 ¥ 380 ¥ 39,492 ¥ 182,861 *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 ¥138 million and a loss of ¥3,664 million from the change in the fair value of the loans for the nine months ended December 31, 2021 and 2022, respectively. Included in “Other (income) and expense” in the consolidated statements of income were losses of ¥931 million and ¥156 million from the change in the fair value of the loans for the three months ended December 31, 2021 and 2022, respectively. No gains or losses were recognized in earnings during the nine months ended December 31, 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, 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. The amounts of aggregate unpaid principal balance and aggregate fair value of the loans held for sale as of December 31, 2022, were ¥186,546 million and ¥182,700 million, respectively, and the amount of the aggregate fair value was less than the amount of aggregate unpaid principal balance by ¥3,846 million. As of March 31, 2022 and December 31, 2022, there were no loans that are 90 days or more past due or, in non-accrual *2 A certain subsidiary elected the fair value option for investments in foreign government bond securities included in available-for-sale *3 A certain subsidiary elected the fair value option for investments in foreign corporate debt securities included in available-for-sale *4 Certain subsidiaries elected the fair value option for certain investments in investment funds, 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 ¥786 million and ¥499 million from the change in the fair value of those investments for the nine months ended December 31, 2021 and 2022, respectively. Included in “Gains on investment securities and dividends” and “Life insurance premiums and related investment income” in the consolidated statements of income were a gain of ¥201 million and a loss of ¥47 million from the change in the fair value of those investments for the three months ended December 31, 2021 and 2022, respectively. The amounts of aggregate fair value elected the fair value option were ¥11,709 million and ¥15,002 million as of March 31, 2022 and December 31, 2022, respectively. *5 The amounts of investment funds measured at net asset value per share which are not included in the above tables were ¥25,999 million and ¥46,085 million as of March 31, 2022 and December 31, 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 ¥5,214 million and ¥5,138 million as of March 31, 2022 and December 31, 2022, respectively. For the effect of changes in the fair value of those reinsurance contracts on earnings during the nine and three months ended December 31, 2021 and 2022, see Note 17 “Life Insurance Operations.” *8 Certain subsidiaries elected the fair value option for the entire variable annuity and variable life insurance contracts held. 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 ¥198,905 million and ¥162,958 million as of March 31, 2022 and December 31, 2022, respectively. For the effect of changes in the fair value of the variable annuity and variable life insurance contracts on earnings during the nine and three months ended December 31, 2021 and 2022, see Note 17 “Life Insurance Operations.” The following tables present the reconciliation of financial assets and liabilities (net) measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the nine months ended December 31, 2021 and 2022: Nine months ended December 31, 2021 Millions of yen Balance at April 1, Gains or losses (realized/unrealized) Purchases *3 Sales Settlements *4 Transfers in and/ or out of Level 3 (net) Balance at December 31, 2021 Change in unrealized gains or losses included in earnings for assets and liabilities still held at December 31, 2021 *1 Change in unrealized gains or losses included in other assets and liabilities still held at December 31, 2021 *2 Included in earnings *1 Included in other comprehensive income *2 Total Available-for-sale debt ¥ 133,457 ¥ 5,248 ¥ 3,654 ¥ 8,902 ¥ 51,327 ¥ (7,485 ) ¥ (48,016 ) ¥ 0 ¥ 138,185 ¥ 711 ¥ 3,777 Japanese prefectural and foreign municipal bond securities 2,761 0 108 108 0 0 0 0 2,869 0 108 Corporate debt securities 1,021 0 (0 ) (0 ) 0 0 (282 ) 0 739 0 (0 ) Other asset-backed 129,675 5,248 3,546 8,794 51,327 (7,485 ) (47,734 ) 0 134,577 711 3,669 Equity securities 91,410 12,322 3,674 15,996 22,891 (26,795 ) (689 ) (610 ) 102,203 1,012 3,638 Investment funds, and others 91,410 12,322 3,674 15,996 22,891 (26,795 ) (689 ) (610 ) 102,203 1,012 3,638 Derivative assets and liabilities (net) 13,790 2,445 630 3,075 0 0 0 0 16,865 2,445 630 Options held/written and other 13,790 2,445 630 3,075 0 0 0 0 16,865 2,445 630 Other asset 6,297 (1,868 ) 0 (1,868 ) 1,464 0 (624 ) 0 5,269 (1,868 ) 0 Reinsurance recoverables *5 6,297 (1,868 ) 0 (1,868 ) 1,464 0 (624 ) 0 5,269 (1,868 ) 0 Policy Liabilities and Policy Account Balances 266,422 (7,872 ) (75 ) (7,947 ) 0 0 (58,161 ) 0 216,208 (7,872 ) (75 ) Variable annuity and variable life insurance contracts *6 266,422 (7,872 ) (75 ) (7,947 ) 0 0 (58,161 ) 0 216,208 (7,872 ) (75 ) Nine months ended December 31, 2022 Millions of yen Balance at April 1, Gains or losses (realized/unrealized) Purchases *3 Sales Settlements *4 Transfers in and/ or out of Level 3 (net) Balance at December 31, 2022 Change in unrealized gains or losses included in earnings for assets and liabilities still held at December 31, 2022 *1 Change in unrealized gains or losses included in other assets and liabilities still held at December 31, 2022 *2 Included in earnings *1 Included in other comprehensive income *2 Total Loans held for sale ¥ 0 ¥ 0 ¥ 0 ¥ 0 ¥ 0 ¥ 0 ¥ 0 ¥ 176,055 ¥ 176,055 ¥ 0 ¥ 0 Available-for-sale debt ¥ 141,060 ¥ 2,999 ¥ 67 ¥ 3,066 ¥ 72,735 ¥ (5,678 ) ¥ (8,502 ) ¥ 0 ¥ 202,681 ¥ 2,793 ¥ 431 Japanese prefectural and foreign municipal bond securities 3,053 0 257 257 0 0 0 0 3,310 0 257 Corporate debt securities 697 (22 ) (0 ) (22 ) 5,922 0 (416 ) 0 6,181 (55 ) 1 Other asset-backed 137,310 3,021 (190 ) 2,831 66,813 (5,678 ) (8,086 ) 0 193,190 2,848 173 Equity securities 112,972 10,652 8,203 18,855 4,696 (7,211 ) (1,994 ) 0 127,318 9,897 8,201 Investment funds, and others 112,972 10,652 8,203 18,855 4,696 (7,211 ) (1,994 ) 0 127,318 9,897 8,201 Derivative assets and liabilities (net) (3,772 ) (7,964 ) (1,137 ) (9,101 ) 0 0 0 0 (12,873 ) (7,964 ) (1,137 ) Options held/written and other (3,772 ) (7,964 ) (1,137 ) (9,101 ) 0 0 0 0 (12,873 ) (7,964 ) (1,137 ) Other asset 5,214 (655 ) 0 (655 ) 901 0 (322 ) 0 5,138 (655 ) 0 Reinsurance recoverables *5 5,214 (655 ) 0 (655 ) 901 0 (322 ) 0 5,138 (655 ) 0 Policy Liabilities and Policy Account Balances 198,905 12,752 16 12,768 0 0 (23,179 ) 0 162,958 12,752 16 Variable annuity and variable life insurance contracts *6 198,905 12,752 16 12,768 0 0 (23,179 ) 0 162,958 12,752 16 *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 the nine months ended December 31, 2021, investment funds, and others totaling ¥610 million were transferred from Level 3 to Level 1, since the inputs became observable. In the nine months ended December 31, 2022, loans held for sale totaling ¥176,055 million were transferred from Level 2 to Level 3, since the inputs became unobservable. The following tables present the reconciliation of financial assets and liabilities (net) measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three months ended December 31, 2021 and 2022: Three months ended December 31, 2021 Millions of yen Balance at September 30, Gains or losses (realized/unrealized) Purchases *3 Sales Settlements *4 Transfers in and/ or out of Level 3 (net) Balance at December 31, Change in unrealized gains or losses included in earnings for assets and liabilities still held at December 31, Change in unrealized gains or losses included in other assets and liabilities still held at December 31, Included in earnings *1 Included in other comprehensive income *2 Total Available-for-sale debt ¥ 137,236 ¥ 967 ¥ 1,827 ¥ 2,794 ¥ 29,057 ¥ 0 ¥ (30,902 ) ¥ 0 ¥ 138,185 ¥ 390 ¥ 1,873 Japanese prefectural and foreign municipal bond securities 2,791 0 78 78 0 0 0 0 2,869 0 78 Corporate debt securities 809 0 0 0 0 0 (70 ) 0 739 0 (0 ) Other asset-backed 133,636 967 1,749 2,716 29,057 0 (30,832 ) 0 134,577 390 1,795 Equity securities 92,008 (413 ) 2,656 2,243 9,200 (420 ) (218 ) (610 ) 102,203 (516 ) 2,630 Investment funds, and others 92,008 (413 ) 2,656 2,243 9,200 (420 ) (218 ) (610 ) 102,203 (516 ) 2,630 Derivative assets and liabilities (net) 15,605 827 433 1,260 0 0 0 0 16,865 827 433 Options held/written and other 15,605 827 433 1,260 0 0 0 0 16,865 827 433 Other asset 5,564 (591 ) 0 (591 ) 414 0 (118 ) 0 5,269 (591 ) 0 Reinsurance recoverables*5 5,564 (591 ) 0 (591 ) 414 0 (118 ) 0 5,269 (591 ) 0 Policy Liabilities and Policy Account Balances 226,221 (1,141 ) 9 (1,132 ) 0 0 (11,145 ) 0 216,208 (1,141 ) 9 Variable annuity and variable life insurance contracts*6 226,221 (1,141 ) 9 (1,132 ) 0 0 (11,145 ) 0 216,208 (1,141 ) 9 Three months ended December 31, 2022 Millions of yen Balance at September 30, Gains or losses (realized/unrealized) Purchases *3 Sales Settlements *4 Transfers in and/ or out of Level 3 (net) Balance at Change in unrealized gains or losses included in earnings for assets and liabilities still held at December 31, Change in unrealized gains or losses included in other assets and liabilities still held at December 31, Included in earnings *1 Included in other comprehensive income *2 Total Loans held for sale ¥ 0 ¥ 0 ¥ 0 ¥ 0 ¥ 0 ¥ 0 ¥ 0 ¥ 176,055 ¥ 176,055 ¥ 0 ¥ 0 Available-for-sale ¥ 195,005 ¥ (7,012 ) ¥ (5,644 ) ¥ (12,656 ) ¥ 25,374 ¥ 0 ¥ (5,042 ) ¥ 0 ¥ 202,681 ¥ (7,202 ) ¥ (5,659 ) Japanese prefectural and foreign municipal bond securities 3,612 0 (302 ) (302 ) 0 0 0 0 3,310 0 (302 ) Corporate debt securities 350 (22 ) 1 (21 ) 5,922 0 (70 ) 0 6,181 (55 ) 1 Other asset-backed 191,043 (6,990 ) (5,343 ) (12,333 ) 19,452 0 (4,972 ) 0 193,190 (7,147 ) (5,358 ) Equity securities 130,372 6,778 (11,489 ) (4,711 ) 2,196 (67 ) (472 ) 0 127,318 6,742 (11,487 ) Investment funds, and others 130,372 6,778 (11,489 ) (4,711 ) 2,196 (67 ) (472 ) 0 127,318 6,742 (11,487 ) Derivative assets and liabilities (net) (24,839 ) 10,522 1,444 11,966 0 0 0 0 (12,873 ) 10,522 1,444 Options held/written and other (24,839 ) 10,522 1,444 11,966 0 0 0 0 (12,873 ) 10,522 1,444 Other asset 5,702 (776 ) 0 (776 ) 269 0 (57 ) 0 5,138 (776 ) 0 Reinsurance recoverables *5 5,702 (776 ) 0 (776 ) 269 0 (57 ) 0 5,138 (776 ) 0 Policy Liabilities and Policy Account Balances 170,177 1,073 (67 ) 1,006 0 0 (6,213 ) 0 162,958 1,073 (67 ) Variable annuity and variable life insurance contracts *6 170,177 1,073 (67 ) 1,006 0 0 (6,213 ) 0 162,958 1,073 (67 ) *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 the three months ended December 31, 2021, investment funds, and others totaling ¥610 million were transferred from Level 3 to Level 1, since the inputs became observable. In the three months ended December 31, 2022, loans held for sale totaling ¥176,055 million were transferred from Level 2 to Level 3, since the inputs became unobservable. The following tables present recorded amounts of assets measured at fair value on a nonrecurring basis during year ended March 31, 2022 and the nine months ended December 31, 2022. These assets are measured at fair value on a nonrecurring basis mainly to recognize impairment: Year ended 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 ¥ 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 Nine months ended December 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 ¥ 277 ¥ 0 ¥ 277 ¥ 0 Real estate collateral-dependent loans (net of allowance for credit losses) 5,994 0 0 5,994 Investment in operating leases, property under facility operations and other assets 3,931 0 31 3,900 Certain equity securities 6,125 0 6,125 0 ¥ 16,327 ¥ 0 ¥ 6,433 ¥ 9,894 The following is a description of the main valuation methodologies used for assets and liabilities measured at fair value. Loans held for sale Certain loans, which the Company and its subsidiaries have the intent and ability to sell to outside parties in the foreseeable future, are considered held-for-sale. Real estate collateral-dependent loans The 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, 2022 and December 31, 2022. March 31, 2022 Millions of yen Fair value Valuation technique(s) Significant unobservable inputs Range (Weighted average) Assets: Available-for-sale Japanese prefectural and foreign municipal bond securities ¥ 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 |
Acquisitions and Divestitures
Acquisitions and Divestitures | 9 Months Ended |
Dec. 31, 2022 | |
Business Combinations [Abstract] | |
Acquisitions and Divestitures | 4. Acquisitions and Divestitures (1) Acquisitions There were no material acquisitions during the nine months ended December 31, 2021 and 2022. The Company and its subsidiaries recognized a bargain purchase gain o f ¥ million associated with two of its acquisitions for the nine months ended December 31, 2022. The bargain purchase gain could possibly be adjusted because the purchase price allocation has not been completed as of December 31, 2022. (2) Divestitures Gains on sales of subsidiaries and affiliates and liquidation losses, net for the nine months ended December 31, 2021 and 2022 amounted to ¥26,105 million and ¥26,872 million, respectively. Gains on sales of subsidiaries and affiliates and liquidation losses, net for the nine months ended December 31, 2021 mainly consisted of ¥749 million in Corporate Financial Services and Maintenance Leasing segment, ¥3,895 million in Environment and Energy segment, ¥15,733 million in ORIX USA segment and ¥5,691 million in Asia and Australia segment. Gains on sales of subsidiaries and affiliates and liquidation losses, net for the nine months ended December 31, 2022 mainly consisted of ¥183 million in Corporate Financial Services and Maintenance Leasing segment, ¥137 million in Real Estate segment, ¥2,367 million in PE Investment and Concession segment, ¥15,675 million in Environment and Energy segment, ¥4,113 million in ORIX USA segment and ¥4,415 million in Asia and Australia segment. Gains on sales of subsidiaries and affiliates and liquidation losses, net for the three months ended December 31, 2021 and 2022 amounted to ¥19,632 million and ¥18,283 million, respectively. Gains on sales of subsidiaries and affiliates and liquidation losses, net for the three months ended December 31, 2021 mainly consisted of ¥678 million in Corporate Financial Services and Maintenance Leasing segment, ¥3,932 million in Environment and Energy segment, ¥9,427 million in ORIX USA segment and ¥5,560 million in Asia and Australia segment. Gains on sales of subsidiaries and affiliates and liquidation losses, net for the three months ended December 31, 2022 mainly consisted of ¥183 million in Corporate Financial Services and Maintenance Leasing segment, ¥2,367 million in PE Investment and Concession segment and ¥15,675 million in Environment and Energy segment. |
Revenues from Contracts with Cu
Revenues from Contracts with Customers | 9 Months Ended |
Dec. 31, 2022 | |
Revenue from Contract with Customer [Abstract] | |
Revenues from Contracts with Customers | 5. Revenues from Contracts with Customers The following table provides information about revenues from contracts with customers, and other sources of revenue for the nine and three months ended December 31, 2021 and 2022 are as follows; Millions of yen Millions of yen Nine months ended December 31, 2021 Nine months ended December 31, 2022 Revenues from contracts with customers ¥ 916,776 ¥ 1,000,124 Other revenues * 951,337 994,720 Total revenues ¥ 1,868,113 ¥ 1,994,844 Millions of yen Millions of yen Three months ended December 31, 2021 Three months ended December 31, 2022 Revenues from contracts with customers ¥ 321,665 ¥ 306,525 Other revenues * 304,914 323,503 Total revenues ¥ 626,579 ¥ 630,028 * Other revenues are not considered to be within the scope of revenue from contracts with customers, such as life insurance premiums and related investment income, operating leases, finance revenues that include interest income, and others. The Company and its subsidiaries recognize revenues when control of the promised goods or services is transferred to our customers, in the amounts that reflect the consideration we expect to receive in exchange for those goods or services. Revenues are recognized net of discounts, incentives and estimated sales returns. Amount to be collected for third party is deducted from revenues. The Company and its subsidiaries evaluate whether we are principal or agent on distinctive goods or services. 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 24 “Segment Information.” Revenue recognition criteria on each goods or services category are mainly as follows: Sales of goods The Company and its subsidiaries sell various goods such as precious metals, medical equipment, business management 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, 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, 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 s 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, 2022 and December 31, 2022. Millions of yen March 31, 2022 December 31, 2022 Trade Notes, Accounts and Other Receivable ¥ 174,667 ¥ 176,841 Contract assets (Included in Other Assets) 13,802 19,998 Contract liabilities (Included in Other Liabilities) 32,978 30,145 For the nine and three months ended December 31, 2021 and 2022, there were no significant changes in contract assets and contract liabilities. For the nine months ended December 31, 2021 and 2022, revenues amounting to ¥32,761 million and ¥23,910 million were included in contract liabilities as of the beginning of each fiscal year, respectively. For the three months ended December 31, 2021 and 2022, revenues amounting to ¥7,130 million and ¥2,591 million were included in contract liabilities as of the beginning of each fiscal year, respectively. As of December 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 ¥198,105 million. Remaining term for the obligations ranges up to 12 years. Furthermore, automobile related services primarily constitute the performance obligations that are unsatisfied (or partially unsatisfied) will be recognized as revenue over the next 10 years. The Company and its subsidiaries applied practical expedients in the disclosure, and performance obligations for contracts that have an original expected duration of one year or less and contracts under which the value transferred to a customer is directly measured and recognized as revenue by the amount it has a right to invoice to the customer are not included. The transaction price allocated to unsatisfied performance obligations does not include the estimate of material variable consideration. |
Leases
Leases | 9 Months Ended |
Dec. 31, 2022 | |
Leases [Abstract] | |
Leases | 6. Leases Lessor Lease income for the nine and three months ended December 31, 2021 and 2022 are as follows: Millions of yen Nine months ended December 31, 2021 Nine months ended December 31, 2022 Lease income—net investment in leases Interest income ¥ 54,536 ¥ 60,219 Other 1,848 1,868 Lease income—operating leases * 340,968 368,760 Total lease income ¥ 397,352 ¥ 430,847 * Gains from the disposition of real estate under operating leases included in operating lease revenues were ¥17,545 million and ¥13,083 million, and gains from the disposition of operating lease assets other than real estate included in operating lease revenues were ¥17,405 million and ¥26,070 million, for the nine months ended December 31, 2021 and 2022, respectively. Millions of yen Three months ended December 31, 2021 Three months ended December 31, 2022 Lease income—net investment in leases Interest income ¥ 18,574 ¥ 20,283 Other 850 721 Lease income—operating leases * 113,035 119,616 Total lease income ¥ 132,459 ¥ 140,620 * Gains from the disposition of real estate under operating leases included in operating lease revenues were ¥2,105 million and ¥596 million, and gains from the disposition of operating lease assets other than real estate included in operating lease revenues were ¥6,607 million and ¥6,980 million, for the three months ended December 31, 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 the nine and three months ended December 31, 2021 and 2022. |
Credit Quality of Financial Ass
Credit Quality of Financial Assets and the Allowance for Credit Losses | 9 Months Ended |
Dec. 31, 2022 | |
Credit Loss [Abstract] | |
Credit Quality of Financial Assets and the Allowance for Credit Losses | 7. 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 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 as of March 31, 2022, and for the nine and three months ended December 31, 2021 and 2022: Nine months ended December 31, 2021 Millions of yen Beginning Provision Allowance during the Charge-offs *4 Recoveries Other *5 Ending Collective Individual Allowance for credit losses : Installment loans to consumer borrowers: Real estate loans Japan ¥ 5,922 ¥ 104 ¥ 0 ¥ (110 ) ¥ 18 ¥ (1 ) ¥ 5,933 ¥ 5,409 ¥ 524 Overseas 470 (26 ) 0 0 3 (3 ) 444 444 0 Card loans Japan 12,984 61 0 (702 ) 3 1 12,347 11,657 690 Other Japan 8,359 3,972 0 (3,276 ) 5 1 9,061 6,394 2,667 Overseas 1,275 200 0 (528 ) 0 72 1,019 883 136 Installment loans to corporate borrowers: Non-recourse Japan 32 24 0 0 0 (1 ) 55 55 0 The Americas 3,450 (937 ) 0 0 0 104 2,617 2,376 241 Real estate companies Japan 901 62 0 (3 ) 22 (1 ) 981 737 244 Overseas 1,539 (554 ) 0 0 1 31 1,017 1,017 0 Commercial, industrial companies Japan 1,938 (112 ) 0 (169 ) 44 1 1,702 544 1,158 Overseas 18,763 2,882 0 (1,948 ) 146 691 20,534 13,782 6,752 Purchased loans *1 1,835 (221 ) 1,869 (1,950 ) 110 7 1,650 629 1,021 Net investment in leases: 16,522 901 0 (1,623 ) 13 380 16,193 12,810 3,383 Subtotal 73,990 6,356 1,869 (10,309 ) 365 1,282 73,553 56,737 16,816 Other financial assets measured at amortized cost *2 6,005 2,737 0 (613 ) 17 72 8,218 618 7,600 Total ¥ 79,995 ¥ 9,093 ¥ 1,869 ¥ (10,922 ) ¥ 382 ¥ 1,354 ¥ 81,771 ¥ 57,355 ¥ 24,416 Three months ended December 31, 2021 Millions of yen Beginning Provision Allowance during the Charge-offs *4 Recoveries Other *5 Ending Collective Individual Allowance for credit losses : Installment loans to consumer borrowers: Real estate loans Japan ¥ 5,922 ¥ 41 ¥ 0 ¥ (36 ) ¥ 6 ¥ 0 ¥ 5,933 ¥ 5,409 ¥ 524 Overseas 423 9 0 0 0 12 444 444 0 Card loans Japan 12,423 183 0 (259 ) 0 0 12,347 11,657 690 Other Japan 8,944 1,297 0 (1,182 ) 1 1 9,061 6,394 2,667 Overseas 1,097 (5 ) 0 (114 ) 0 41 1,019 883 136 Installment loans to corporate borrowers: Non-recourse Japan 45 10 0 0 0 0 55 55 0 The Americas 2,928 (378 ) 0 0 0 67 2,617 2,376 241 Real estate companies Japan 996 (22 ) 0 0 8 (1 ) 981 737 244 Overseas 1,109 (116 ) 0 0 1 23 1,017 1,017 0 Commercial, industrial companies Japan 1,735 (48 ) 0 (22 ) 37 0 1,702 544 1,158 Overseas 18,673 1,766 0 (603 ) 117 581 20,534 13,782 6,752 Purchased loans *1 1,702 (135 ) 117 (139 ) 101 4 1,650 629 1,021 Net investment in leases: 16,243 229 0 (625 ) 3 343 16,193 12,810 3,383 Subtotal 72,240 2,831 117 (2,980 ) 274 1,071 73,553 56,737 16,816 Other financial assets measured at amortized cost *2 7,044 1,150 0 (40 ) 6 58 8,218 618 7,600 Total ¥ 79,284 ¥ 3,981 ¥ 117 ¥ (3,020 ) ¥ 280 ¥ 1,129 ¥ 81,771 ¥ 57,355 ¥ 24,416 March 31, 2022 Millions of yen Ending Collective Individual Allowance for credit losses : Installment loans to consumer borrowers: Real estate loans Japan ¥ 5,716 ¥ 5,211 ¥ 505 Overseas 455 455 0 Card loans Japan 10,019 9,423 596 Other Japan 5,204 2,946 2,258 Overseas 1,105 961 144 Installment loans to corporate borrowers: Non-recourse Japan 81 81 0 The Americas 2,691 1,836 855 Real estate companies Japan 617 490 127 Overseas 735 735 0 Commercial, industrial companies Japan 1,337 505 832 Overseas 18,296 13,367 4,929 Purchased loans *1 1,575 608 967 Net investment 16,303 12,480 3,823 Subtotal 64,134 49,098 15,036 Other financial assets measured at amortized cost *2 7,282 562 6,720 Total ¥ 71,416 ¥ 49,660 ¥ 21,756 Nine months ended December 31, 2022 Millions of yen Beginning Provision Allowance during the Charge-offs *4 Recoveries Other *5 Ending Collective Individual Allowance for credit losses : Installment loans to consumer borrowers: Real estate loans Japan ¥ 5,716 ¥ 80 ¥ 0 ¥ (212 ) ¥ 20 ¥ 1 ¥ 5,605 ¥ 5,155 ¥ 450 Overseas 455 (24 ) 0 0 1 19 451 451 0 Card loans Japan 10,019 529 0 (404 ) 6 0 10,150 9,508 642 Other Japan 5,204 3,361 0 (1,464 ) 6 0 7,107 4,810 2,297 Overseas 1,105 616 0 (297 ) 0 (38 ) 1,386 1,174 212 Installment loans to corporate borrowers: Non-recourse Japan 81 62 0 0 0 0 143 143 0 The Americas 2,691 (1,184 ) 0 0 0 (17 ) 1,490 562 928 Real estate companies Japan 617 (18 ) 0 0 21 0 620 502 118 Overseas 735 162 0 (20 ) 0 49 926 926 0 Commercial, industrial companies Japan 1,337 102 0 (320 ) 69 0 1,188 388 800 Overseas 18,296 4,587 0 (2,202 ) 312 1,457 22,450 14,827 7,623 Purchased loans *1 1,575 (266 ) 4,389 (4,606 ) 56 8 1,156 553 603 Net investment in leases: 16,303 846 0 (2,040 ) 27 171 15,307 11,587 3,720 Subtotal 64,134 8,853 4,389 (11,565 ) 518 1,650 67,979 50,586 17,393 Other financial assets measured 7,282 46 0 (6,370 ) 19 137 1,114 554 560 Total ¥ 71,416 ¥ 8,899 ¥ 4,389 ¥ (17,935 ) ¥ 537 ¥ 1,787 ¥ 69,093 ¥ 51,140 ¥ 17,953 Three months ended December 31, 2022 Millions of yen Beginning Provision Allowance during the Charge-offs *4 Recoveries Other *5 Ending Collective Individual Allowance for credit losses : Installment loans to consumer Real estate loans Japan ¥ 5,648 ¥ 80 ¥ 0 ¥ (130 ) ¥ 7 ¥ 0 ¥ 5,605 ¥ 5,155 ¥ 450 Overseas 456 (22 ) 0 0 1 16 451 451 0 Card loans Japan 9,986 301 0 (139 ) 2 0 10,150 9,508 642 Other Japan 6,495 1,209 0 (599 ) 2 0 7,107 4,810 2,297 Overseas 1,322 330 0 (91 ) 0 (175 ) 1,386 1,174 212 Installment loans to corporate Non-recourse Japan 82 61 0 0 0 0 143 143 0 The Americas 1,869 (240 ) 0 0 0 (139 ) 1,490 562 928 Real estate companies Japan 610 3 0 0 8 (1 ) 620 502 118 Overseas 680 260 0 (6 ) 0 (8 ) 926 926 0 Commercial, industrial companies Japan 1,323 (154 ) 0 (43 ) 62 0 1,188 388 800 Overseas 20,039 4,473 0 (377 ) 2 (1,687 ) 22,450 14,827 7,623 Purchased loans *1 1,187 (24 ) 2,294 (2,297 ) 0 (4 ) 1,156 553 603 Net investment in leases: 16,240 264 0 (610 ) 2 (589 ) 15,307 11,587 3,720 Subtotal 65,937 6,541 2,294 (4,292 ) 86 (2,587 ) 67,979 50,586 17,393 Other financial assets measured 3,221 (111 ) 0 (1,803 ) 4 (197 ) 1,114 554 560 Total ¥ 69,158 ¥ 6,430 ¥ 2,294 ¥ (6,095 ) ¥ 90 ¥ (2,784 ) ¥ 69,093 ¥ 51,140 ¥ 17,953 Notes: 1. Loans held for sale 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. *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 provisions of ¥4,670 million and ¥7,707 million during the nine months ended December 31, 2021 and 2022, provisions of ¥2,564 million and ¥6,033 million during the three months ended December 31, 2021 and 2022, respectively. “Allowance for credit losses” on the consolidated balance sheets amounted to ¥69,459 million and ¥68,815 million as of March 31, 2022 and December 31, 2022, respectively. The reconciliation between the above table and the amounts reported on the consolidated financial statements during the nine and three months ended December 31, 2021 and 2022, and as of March 31, 2022 and December 31, 2022 are as follows: Millions of yen Nine months ended December 31, 2021 Three months ended December 31, 2021 March 31, 2022 Nine months ended December 31, 2022 Three months ended December 31, 2022 December 31, 2022 Net investment in leases ¥ 901 ¥ 229 ¥ 16,303 ¥ 846 ¥ 264 ¥ 15,307 Installment loans 5,455 2,602 47,831 8,007 6,277 52,672 Subtotal in the above table 6,356 2,831 64,134 8,853 6,541 67,979 Other financial assets measured at amortized cost 2,737 1,150 7,282 46 (111 ) 1,114 Total in the above table 9,093 3,981 71,416 8,899 6,430 69,093 Off-balance (2,897 ) (528 ) 0 (1,199 ) (331 ) 0 Available-for-sale 0 0 0 (5 ) 0 0 Less: Loans to affiliates *3(c) (1,526 ) (889 ) (1,957 ) 12 (66 ) (278 ) Amount reported on the consolidated financial statements ¥ 4,670 ¥ 2,564 ¥ 69,459 ¥ 7,707 ¥ 6,033 ¥ 68,815 *3(a) The allowance for off-balance *3(b) The allowance for available-for-sale *3(c) The provision for credit losses on loans to affiliates were a provision of ¥1,526 million and a reversal of ¥12 million during the nine months ended December 31, 2021 and 2022, provision s *4 Included in Charge-off *5 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 the nine and three months ended December 31, 2021 and 2022: Millions of yen Nine months ended December 31, 2021 Nine months ended December 31, 2022 Purchase price ¥ 2,629 ¥ 1,954 Allowance for credit losses at acquisition date 1,869 4,389 Discount or premium attributable to other factors 178 228 Par value ¥ 4,676 ¥ 6,571 Millions of yen Three months ended December 31, 2021 Three months ended December 31, 2022 Purchase price ¥ 1,209 ¥ 14 Allowance for credit losses at acquisition date 117 2,294 Discount or premium attributable to other factors 56 2 Par value ¥ 1,382 ¥ 2,310 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 the nine months ended December 31, 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, 2022 and December 31, 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, 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 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 December 31, 2022 Millions of yen Portfolio segment Origination year (years ended March 31) Total Class Credit Quality 2023 2022 2021 2020 2019 Prior Consumer borrowers: Performing ¥ 279,069 ¥ 221,429 ¥ 292,158 ¥ 370,859 ¥ 299,267 ¥ 689,108 ¥ 2,151,890 Non-Performing 8,430 5,759 3,474 2,497 1,356 12,630 ¥ 34,146 Real estate loans Performing 254,879 209,234 289,473 368,900 298,125 686,204 ¥ 2,106,815 Non-Performing 18 90 419 420 300 12,003 ¥ 13,250 Other* Performing 24,190 12,195 2,685 1,959 1,142 2,904 ¥ 45,075 Non-Performing 8,412 5,669 3,055 2,077 1,056 627 ¥ 20,896 Corporate borrowers: Performing 331,404 383,034 135,275 189,169 114,673 153,536 ¥ 1,307,091 Non-Performing 251 6,424 3,740 6,853 4,183 29,212 ¥ 50,663 Non-recourse Japan Performing 51,157 17,997 6,697 22,476 4,449 7,677 ¥ 110,453 The Americas Performing 1,572 0 5,152 16,551 11,845 1,077 ¥ 36,197 Non-Performing 0 0 0 0 0 3,281 ¥ 3,281 Other than non-recourse Real estate companies in Japan Performing 88,733 56,046 34,123 28,091 24,014 49,538 ¥ 280,545 Non-Performing 0 231 0 950 67 942 ¥ 2,190 Real estate companies in overseas Performing 33,435 15,859 8,928 8,232 2,325 1,184 ¥ 69,963 Non-Performing 0 0 736 1,375 1,921 15,593 ¥ 19,625 Commercial, industrial and other companies in Japan Performing 55,014 40,482 18,375 20,394 9,283 15,739 ¥ 159,287 Non-Performing 125 126 445 408 133 455 ¥ 1,692 Commercial, industrial and other companies in overseas Performing 101,493 252,650 62,000 93,425 62,757 78,321 ¥ 650,646 Non-Performing 126 6,067 2,559 4,120 2,062 8,941 ¥ 23,875 Purchased loans: Performing 0 399 0 22 411 11,431 ¥ 12,263 Non-Performing 0 0 0 0 0 1,019 ¥ 1,019 Net investment in leases: Performing 344,973 291,705 158,474 119,810 63,666 85,668 ¥ 1,064,296 Non-Performing 2,369 3,381 2,163 2,254 1,747 5,601 ¥ 17,515 Japan Performing 150,756 148,036 109,244 90,976 53,106 81,867 ¥ 633,985 Non-Performing 106 513 655 817 794 2,247 ¥ 5,132 Overseas Performing 194,217 143,669 49,230 28,834 10,560 3,801 ¥ 430,311 Non-Performing 2,263 2,868 1,508 1,437 953 3,354 ¥ 12,383 Other financial assets measured at amortized cost Performing 2,361 0 2,090 282 0 32,182 ¥ 36,915 Non-Performing 0 0 0 0 0 917 ¥ 917 Total (excluding revolving repayment card loans) Performing ¥ 957,807 ¥ 896,567 ¥ 587,997 ¥ 680,142 ¥ 478,017 ¥ 971,925 ¥ 4,572,455 Non-Performing 11,050 15,564 9,377 11,604 7,286 49,379 ¥ 104,260 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 23 “Commitments, Guarantees and Contingent 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, 2022 and December 31, 2022 are as follows: 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 December 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 ¥ 165,590 ¥ 0 ¥ 165,590 ¥ 4,572,455 ¥ 4,738,045 Non-Performing 1,347 3,528 4,875 104,260 ¥ 109,135 Of non-performing past-due non-performing The following table provides information about the past-due 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 December 31, 2022 Millions of yen Past-due Portfolio segment Class 30-89 past-due 90 days or more past-due Total past-due Total financing receivables Consumer borrowers ¥ 3,704 ¥ 8,770 ¥ 12,474 ¥ 2,356,501 Real estate loans 1,135 2,229 3,364 2,120,065 Card loans 490 1,158 1,648 170,465 Other 2,079 5,383 7,462 65,971 Corporate borrowers 7,193 27,554 34,747 1,357,754 Non-recourse Japan 0 0 0 110,453 The Americas 0 1,484 1,484 39,478 Other than Non-recourse Real estate companies in Japan 181 283 464 282,735 Real estate companies in overseas 0 19,625 19,625 89,588 Commercial, industrial and other companies in Japan 1,428 1,348 2,776 160,979 Commercial, industrial and other companies in overseas 5,584 4,814 10,398 674,521 Net investment in leases 12,634 16,018 28,652 1,081,811 Japan 2,182 4,547 6,729 639,117 Overseas 10,452 11,471 21,923 442,694 Total ¥ 23,531 ¥ 52,342 ¥ 75,873 ¥ 4,796,066 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, 2022 Millions of yen Beginning balance Ending balance 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 December 31, 2022 Millions of yen Beginning balance Ending balance Interest income Balance not Non-accrual Installment loans to consumer borrowers: Real estate loans Japan ¥ 1,824 ¥ 1,728 ¥ 175 ¥ 218 Overseas 475 568 0 0 Card loans Japan 503 1,160 22 0 Other Japan 2,391 4,778 134 11 Overseas 519 639 0 0 Installment loans to corporate borrowers: Non-recourse The Americas 8,787 3,281 0 0 Real estate companies Japan 351 283 39 15 Overseas 20,879 19,625 0 0 Commercial, industrial companies and other Japan 1,267 1,348 50 67 Overseas 18,634 24,741 0 2,959 Net investment in leases 17,771 17,301 0 0 Total ¥ 73,401 ¥ 75,452 ¥ 420 ¥ 3,270 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 nine and three months ended December 31, 2021 and 2022: Nine months ended December 31, 2021 Millions of yen Portfolio segment Class Pre-modification outstanding recorded investment Post-modification outstanding recorded investment Consumer borrowers ¥ 6,980 ¥ 4,796 Real estate loans 14 6 Card loans 1,108 844 Other 5,858 3,946 Corporate borrowers 5,134 5,000 Other than Non-recourse Commercial, industrial and other companies in overseas 5,134 5,000 Total ¥ 12,114 ¥ 9,796 Nine months ended December 31, 2022 Millions of yen Portfolio segment Class Pre-modification outstanding recorded investment Post-modification outstanding recorded investment Consumer borrowers ¥ 5,785 ¥ 4,579 Real estate loans 9 4 Card loans 1,079 936 Other 4,697 3,639 Corporate borrowers 8,444 8,442 Other than Non-recourse loans Real estate companies in Japan 231 230 Commercial, industrial and other companies in overseas 8,213 8,212 Total ¥ 14,229 ¥ 13,021 Three months ended December 31, 2021 Millions of yen Portfolio segment Class Pre-modification outstanding recorded investment Post-modification outstanding recorded investment Consumer borrowers ¥ 2,933 ¥ 1,735 Real estate loans 10 5 Card loans 417 316 Other 2,506 1,414 Corporate borrowers 138 134 Other than Non-recourse Commercial, industrial and other companies in overseas 138 134 Total ¥ 3,071 ¥ 1,869 Three months ended December 31, 2022 Millions of yen Portfolio segment Class Pre-modification outstanding recorded investment Post-modification outstanding recorded investment Consumer borrowers ¥ 1,806 ¥ 1,404 Real estate loans 4 1 Card loans 366 317 Other 1,436 1,086 Corporate borrowers 231 230 Other than Non-recourse loans Real estate companies in Japan 231 230 Total ¥ 2,037 ¥ 1,634 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 the nine months ended December 31, 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 December 31, 2021 and for which there was a payment default during the nine and three months ended December 31, 2021: Nine months ended December 31, 2021 Millions of yen Portfolio segment Class Recorded investment Consumer borrowers ¥ 673 Real estate loans 4 Card loans 6 Other 663 Total ¥ 673 Three months ended December 31, 2021 Millions of yen Portfolio segment Class Recorded investment Consumer borrowers ¥ 196 Real estate loans 4 Card loans 3 Other 189 Total ¥ 196 The following table provides information about financing receivables modified as troubled debt restructurings within the previous 12 months from December 31, 2022 and for which there was a payment default during the nine and three months ended December 31, 2022: Nine months ended December 31, 2022 Millions of yen Portfolio segment Class Recorded investment Consumer borrowers ¥ 518 Card loans 5 Other 513 Corporate borrowers 1,671 Other than Non-recourse Commercial, industrial and other companies in overseas 1,671 Total ¥ 2,189 Three months ended December 31, 2022 Millions of yen Portfolio segment Class Recorded investment Consumer borrowers ¥ 195 Card loans 4 Other 191 Total ¥ 195 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, 2022 and December 31, 2022, there were no foreclosed residential real estate properties. The carrying amounts of installment loans in consumer real estate loans collateralized by residential real estate property that are in the process of foreclosure were ¥162 million and ¥130 million as of March 31, 2022 and December 31, 2022, respectively. |
Investment in Securities
Investment in Securities | 9 Months Ended |
Dec. 31, 2022 | |
Investments Schedule [Abstract] | |
Investment in Securities | 8. Investment in Securities Investment in securities as of March 31, 2022 and December 31, 2022 consists of the following: Millions of yen March 31, 2022 December 31, 2022 Equity securities * ¥ 560,643 ¥ 561,116 Trading debt securities 2,503 2,968 Available-for-sale 2,174,891 2,107,359 Held-to-maturity 114,312 114,757 Total ¥ 2,852,349 ¥ 2,786,200 * The amount of assets under management of variable annuity and variable life insurance contracts included in equity securities were ¥185,115 million and ¥149,314 million as of March 31, 2022 and December 31, 2022, respectively. The amount of investment funds that are accounted for under the equity method included in equity securities were ¥90,650 million and ¥90,709 million as of March 31, 2022 and December 31, 2022, respectively. The amount of investment funds elected for the fair value option included in equity securities, and others were ¥11,709 million and ¥15,002 million as of March 31, 2022 and December 31, 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 17 “Life Insurance Operations.” Net unrealized holding gains (losses) on equity securities held as of December 31, 2021 were gains of ¥30,891 million and lo sses gains of Equity securities include non-marketable Millions of yen March 31, 2022 Nine months ended Three months ended Carrying Accumulated Accumulated Impairments Upward Impairments Upward Equity securities measured using the measurement alternative ¥ 58,723 ¥ (13,880 ) ¥ 401 ¥ (57 ) ¥ 69 ¥ (38 ) ¥ 21 Millions of yen December 31, 2022 Nine months ended Three months ended Carrying Accumulated Accumulated Impairments Upward Impairments Upward Equity securities measured using the measurement alternative ¥ 68,952 ¥ (13,648 ) ¥ 1,530 ¥ (368 ) ¥ 1,182 ¥ 0 ¥ 286 Gains and losses realized from the sale of trading debt securities and net unrealized holding gains (losses) on trading debt securities are included in gains on investment securities and dividends. Net unrealized holding gains (losses) on trading debt securities held as of December 31, 2021 were gains of ¥131 million and ¥43 million, respectively, for the nine and three months ended December 31, 2021. Net unrealized holding gains (losses) on trading debt securities held as of December 31, 2022 were gains of ¥259 million and ¥62 million, respectively, for the nine and three months ended December 31, 2022. 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, 2022 and December 31, 2022, these investments were fair valued at ¥11,709 million and ¥15,002 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, 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 December 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 ¥ 971,869 ¥ 0 ¥ 1,607 ¥ (227,391 ) ¥ 746,085 Japanese prefectural and foreign municipal bond securities 381,625 (143 ) 818 (28,290 ) 354,010 Corporate debt securities 865,330 0 4,623 (97,798 ) 772,155 CMBS and RMBS in the Americas 43,160 0 44 (2,262 ) 40,942 Other asset-backed securities and debt securities 198,143 (16 ) 5,733 (9,693 ) 194,167 2,460,127 (159 ) 12,825 (365,434 ) 2,107,359 Held-to-maturity Japanese government bond securities and other 114,757 0 12,000 (453 ) 126,304 ¥ 2,574,884 ¥ (159 ) ¥ 24,825 ¥ (365,887 ) ¥ 2,233,663 The following table presents a rollforward of the allowance for credit losses for the nine months ended December 3 1 Millions of yen Nine months ended December 31, 2021 Foreign municipal bond Total Beginning ¥ 120 ¥ 120 Increase (Decrease) from the effects of changes in foreign exchange rates 4 4 Ending ¥ 124 ¥ 124 Millions of yen Nine months ended December 31, 2022 Foreign municipal bond Japanese other asset- Total Beginning ¥ 132 ¥ 21 ¥ 153 Additional increases (decreases) to the allowance for credit losses on AFS debt securities that had an allowance recorded in a previous period, net 0 (5 ) (5 ) Increase (Decrease) from the effects of changes in foreign exchange rates 11 0 11 Ending ¥ 143 ¥ 16 ¥ 159 The following table presents a rollforward of the allowance for credit losses for the three months ended December 3 1 Millions of yen Three months ended December 31, 2021 Foreign municipal bond Total Beginning ¥ 121 ¥ 121 Increase (Decrease) from the effects of changes in foreign exchange rates 3 3 Ending ¥ 124 ¥ 124 Millions of yen Three months ended December 31, 2022 Foreign municipal bond Japanese other asset- Total Beginning ¥ 156 ¥ 16 ¥ 172 Increase (Decrease) from the effects of changes in foreign exchange rates (13 ) 0 (13 ) Ending ¥ 143 ¥ 16 ¥ 159 The following tables provide information about available-for-sale 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 ) December 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 ¥ 156,264 ¥ (41,597 ) ¥ 547,801 ¥ (185,794 ) ¥ 704,065 ¥ (227,391 ) Japanese prefectural and foreign municipal bond securities 200,136 (13,159 ) 117,775 (15,274 ) 317,911 (28,433 ) Corporate debt securities 374,243 (35,676 ) 243,218 (62,122 ) 617,461 (97,798 ) CMBS and RMBS in the Americas 26,455 (1,749 ) 9,400 (513 ) 35,855 (2,262 ) Other asset-backed securities and debt securities 115,803 (5,804 ) 40,257 (3,905 ) 156,060 (9,709 ) ¥ 872,901 ¥ (97,985 ) ¥ 958,451 ¥ (267,608 ) ¥ 1,831,352 ¥ (365,593 ) The following table provides information about available-for-sale 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 ) December 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 ¥ 156,264 ¥ (41,597 ) ¥ 547,801 ¥ (185,794 ) ¥ 704,065 ¥ (227,391 ) Japanese prefectural and foreign municipal bond securities 200,136 (13,159 ) 114,322 (15,131 ) 314,458 (28,290 ) Corporate debt securities 374,243 (35,676 ) 243,218 (62,122 ) 617,461 (97,798 ) CMBS and RMBS in the Americas 26,455 (1,749 ) 9,400 (513 ) 35,855 (2,262 ) Other asset-backed securities and debt securities 115,744 (5,788 ) 40,257 (3,905 ) 156,001 (9,693 ) ¥ 872,842 ¥ (97,969 ) ¥ 954,998 ¥ (267,465 ) ¥ 1,827,840 ¥ (365,434 ) The number of investment securities that were in an unrealized loss position as of March 31, 2022 and December 31, 2022 were 963 and 1,301, 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, 2022 and December 31, 2022, the amount of accrued revenues on available-for-sale For available-for-sale non-credit written-off There were no credit losses related to available-for-sale available-for-sale available-for-sale Unrealized losses on available-for-sale available-for-sale There were no available-for-sale |
Transfer of Financial Assets
Transfer of Financial Assets | 9 Months Ended |
Dec. 31, 2022 | |
Transfers and Servicing [Abstract] | |
Transfer of Financial Assets | 9. Transfer of Financial Assets The Company and its subsidiaries have securitized and transferred financial assets such as installment loans (commercial mortgage loans, housing loans and other). In the securitization process, these financial assets are transferred to SPEs that issue beneficial interests of the securitization trusts and securities backed by the financial assets to investors. The cash flows collected from these assets transferred to the SPEs are then used to repay these asset-backed beneficial interests and securities. As the transferred assets are isolated from the Company and its subsidiaries, the investors and the SPEs have no recourse to other assets of the Company and its subsidiaries in cases where the debtors or the issuers of the transferred financial assets fail to perform under the original terms of those financial assets. The Company and its subsidiaries often have continuing involvement with transferred financial assets by retaining the servicing arrangements and the interests in the SPEs in the form of the beneficial interest of the securitization trusts. Those interests that continue to be held include interests in the transferred assets and are often subordinate to other tranche(s) of the securitization. Those beneficial interests that continue to be held by the Company and its subsidiaries are subject to credit risk, interest rate risk and prepayment risk on the securitized financial assets. With regards to these subordinated interests that the Company and its subsidiaries retain, they are subordinated to the senior investments and are exposed to different credit and prepayment risks, since they first absorb the risk of the decline in the cash flows from the financial assets transferred to the SPEs for defaults and prepayment of the transferred assets. If there is any excess cash remaining in the SPEs after payment to investors in the securitization of the contractual rate of returns, most of such excess cash is distributed to the Company and its subsidiaries for payments of the subordinated interests. SPEs used in securitization transactions have been consolidated if the Company and its subsidiaries are the primary beneficiary of the SPEs. When the Company and its subsidiaries have transferred financial assets to a transferee that is not subject to consolidation, the Company and its subsidiaries account for the transfer as a sale if control over the transferred assets is surrendered. For the nine months ended December 31, 2021 and 2022, the amount of installment loans that has been derecognized due to new securitization and transfer of loans were ¥1,023,249 million and ¥733,032 million, respectively. For the nine months ended December 31, 2021 and 2022, gains (losses) from the securitization and transfer of loans were ¥28,481 million and ¥15,058 million, respectively, which is included in finance revenues in the consolidated statements of income. For the three months ended December 31, 2021 and 2022, the amount of installment loans that has been derecognized due to new securitization and transfer of loans were ¥415,127 million and ¥220,876 million, respectively. For the three months ended December 31, 2021 and 2022, gains (losses) from the securitization and transfer of loans were ¥9,844 million and ¥3,902 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 rollforwards of the amount of the servicing assets for the nine and three months ended December 31, 2021 and 2022 are as follows: Millions of yen Nine months ended December 31, 2021 Nine months ended December 31, 2022 Three months ended December 31, 2021 Three months ended December 31, 2022 Beginning balance ¥ 63,754 ¥ 70,254 ¥ 65,238 ¥ 80,190 Increase mainly from loans sold with servicing retained 9,849 8,150 2,711 2,724 Decrease mainly from amortization (10,045 ) (11,208 ) (3,683 ) (3,062 ) Increase from the effects of changes in foreign exchange rates 2,502 5,969 1,794 (6,687 ) Ending balance ¥ 66,060 ¥ 73,165 ¥ 66,060 ¥ 73,165 The fair value of the servicing assets as of March 31, 2022 and December 31, 2022 are as follows: Millions of yen March 31, 2022 December 31, 2022 Beginning balance ¥ 74,135 ¥ 83,732 Ending balance ¥ 83,732 ¥ 94,657 |
Variable Interest Entities
Variable Interest Entities | 9 Months Ended |
Dec. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Variable Interest Entities | 10. Variable Interest Entities The Company and its subsidiaries use SPEs in the ordinary course of business. These SPEs are not always controlled by voting rights, and there are cases where voting rights do not exist for these SPEs. The Company and its subsidiaries determine a variable interest entity (hereinafter, “VIE”) among those SPEs when (a) the total equity investment at risk is not sufficient to permit the entity to finance its activities without additional subordinated financial support provided by any parties, including the equity holders or (b) as a group, the holders of the equity investment at risk do not have (1) the ability to make decisions about an entity’s activities that most significantly impact the entity’s economic performance through voting rights or similar rights, (2) the obligation to absorb the expected losses of the entity or (3) the right to receive the expected residual returns of the entity. The Company and its subsidiaries perform a qualitative analysis to identify the primary beneficiary of VIEs. An enterprise that has both of the following characteristics is considered to be the primary beneficiary and therefore results in the consolidation of the VIE: • the power to direct the activities of a VIE that most significantly impact the entity’s economic performance; and • the obligation to absorb losses of the entity that could potentially be significant to the VIE or the right to receive benefits from the entity that could potentially be significant to the VIE. All facts and circumstances are taken into consideration when determining whether the Company and its subsidiaries have variable interests that would deem it the primary beneficiary and therefore require consolidation of the VIE. The Company and its subsidiaries make ongoing reassessment of whether they are the primary beneficiaries of a VIE. The following are the factors that the Company and its subsidiaries are considering in a qualitative assessment: • which activities most significantly impact the economic performance of the VIE and who has the power to direct such activities; • characteristics of the Company and its subsidiaries’ variable interest or interests and other involvements (including involvement of related parties and de facto agents); • involvement of other variable interest holders; and • the entity’s purpose and design, including the risks that the entity was designed to create and pass through to its variable interest holders. The Company and its subsidiaries generally consider the following types of involvement to be significant when determining the primary beneficiary: • designing the structuring of a transaction; • providing an equity investment and debt financing; • being the investment manager, asset manager or servicer and receiving variable fees; and • providing liquidity and other financial support. The Company and its subsidiaries do not have the power to direct activities of a VIE that most significantly impact the VIE’s economic performance if that power is shared among multiple unrelated parties, and accordingly do not consolidate such VIE. Information about VIEs (consolidated and non-consolidated) 1. Consolidated VIEs March 31, 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 December 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 2,031 0 0 0 (c) VIEs for acquisition of real estate for the Company and its subsidiaries’ real estate-related business 55,989 13,056 16,260 0 (d) VIEs for corporate rehabilitation support business 679 6 0 0 (e) VIEs for investment in securities 165,132 401 0 65,005 (f) VIEs for securitizing financial assets such as finance lease receivable and loan receivable 225,709 157,468 225,709 0 (g) VIEs for securitization of loan receivable originated by third parties 553 1,103 553 0 (h) VIEs for power generation projects 269,682 165,137 193,428 38,078 (i) Other VIEs 167,024 64,098 137,634 0 Total ¥ 886,799 ¥ 401,269 ¥ 573,584 ¥ 103,083 *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, 2022 Millions of yen Carrying amount of the Company and its subsidiaries Maximum exposure to loss * Types of VIEs Total assets Non-recourse Investments (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 December 31, 2022 Millions of yen Carrying amount of the Company and its subsidiaries Maximum exposure to loss * Types of VIEs Total assets Non-recourse Investments (a) VIEs for liquidating customer assets ¥ 8,269 ¥ 0 ¥ 991 ¥ 991 (b) VIEs for acquisition of real estate and real estate development projects for customers 599,546 11,562 8,747 21,791 (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 9,705,860 0 95,958 162,354 (f) VIEs for securitizing financial assets such as finance lease receivable and loan receivable 0 0 0 0 (g) VIEs for securitization of loan receivable originated by third parties 932,798 0 13,499 13,499 (h) VIEs for power generation projects 9,091 0 562 4,892 (i) Other VIEs 1,476,960 3,312 25,041 39,776 Total ¥ 12,732,524 ¥ 14,874 ¥ 144,798 ¥ 243,303 * 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 non-consolidated (c) VIEs for acquisition of real estate for the Company and its subsidiaries’ real estate-related business The Company and its subsidiaries establish VIEs and acquire real estate to borrow non-recourse The Company and its subsidiaries consolidate such VIEs even though the Company and its subsidiaries may not have voting rights if substantially all of such VIEs’ subordinated interests are issued to the Company and its subsidiaries, and therefore the VIEs are controlled by and for the benefit of the Company and its subsidiaries. In the Company’s consolidated balance sheets, assets of the consolidated VIEs are mainly included in cash and cash equivalents, restricted cash, investment in operating leases, investment in securities, property under facility operations and other assets, and liabilities of those consolidated VIEs are mainly included in 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 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 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. With respect to variable interests of non-consolidated non-recourse non-consolidated |
Investment in Affiliates
Investment in Affiliates | 9 Months Ended |
Dec. 31, 2022 | |
Investments in and Advances to Affiliates [Abstract] | |
Investment in Affiliates | 11. Investment in Affiliates Investment in affiliates at March 31, 2022 and December 31, 2022 consists of the following: Millions of yen March 31, 2022 December 31, 2022 Shares ¥ 943,090 ¥ 1,003,198 Loans and others 34,943 37,382 ¥ 978,033 ¥ 1,040,580 |
Redeemable Noncontrolling Inter
Redeemable Noncontrolling Interests | 9 Months Ended |
Dec. 31, 2022 | |
Noncontrolling Interest [Abstract] | |
Redeemable Noncontrolling Interests | 12. Redeemable Noncontrolling Interests Changes in redeemable noncontrolling interests for the nine months ended December 31, 2021 and 2022 are as follows: Millions of yen Nine months ended December 31, 2021 Nine months ended December 31, 2022 Beginning balance ¥ 0 ¥ 0 Transaction with noncontrolling interests 0 949 Comprehensive income Net income 0 23 Other comprehensive income Net change of foreign currency translation adjustments 0 2 Total other comprehensive income 0 2 Comprehensive income 0 25 Ending balance ¥ 0 ¥ 974 |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income (Loss) | 9 Months Ended |
Dec. 31, 2022 | |
Equity [Abstract] | |
Accumulated Other Comprehensive Income (Loss) | 13. Accumulated Other Comprehensive Income (Loss) Changes in each component of accumulated other comprehensive income (loss) attributable to ORIX Corporation Shareholders for the nine months ended December 31, 2021 and 2022, are as follows: Nine months ended December 31, 2021 Millions of yen Net unrealized gains (losses) on investment in securities Debt Defined benefit pension Foreign currency translation adjustments Net unrealized gains (losses) on derivative instruments Accumulated other comprehensive income (loss) 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 ¥(6,411) million 16,680 16,680 Reclassification adjustment included in net income, net of tax of ¥1,392 million (4,107 ) (4,107 ) Debt valuation adjustments, net of tax of ¥12 million (32 ) (32 ) Reclassification adjustment included in net income, net of tax of ¥9 million (22 ) (22 ) Defined benefit pension plans, net of tax of ¥57 million (110 ) (110 ) Reclassification adjustment included in net income, net of tax of ¥(114) million 276 276 Foreign currency translation adjustments, net of tax of ¥2,997 million 39,553 39,553 Reclassification adjustment included in net income, net of tax of ¥(378) million 799 799 Net unrealized gains (losses) on derivative instruments, net of tax of ¥(1,163) million 4,427 4,427 Reclassification adjustment included in net income, net of tax of ¥(458) million 1,259 1,259 Total other comprehensive income (loss) 12,573 (54 ) 166 40,352 5,686 58,723 Transaction with noncontrolling interests 0 0 0 (1,472 ) (3 ) (1,475 ) Less: Other Comprehensive Income (loss) Attributable to the Noncontrolling Interests 0 0 (1 ) 1,673 295 1,967 Balance at December 31, 2021 * ¥ (3,635 ) ¥ 504 ¥ (20,906 ) ¥ 751 ¥ (6,083 ) ¥ (29,369 ) * As of December 31, 2021, there were no net unrealized gains (losses) on investment in securities related to available-for-sale Nine months ended December 31, 2022 Millions of yen Net unrealized gains (losses) on investment in securities Debt Defined benefit pension Foreign currency translation adjustments Net unrealized gains (losses) on derivative instruments Accumulated other comprehensive income (loss) Balance at March 31, 2022 ¥ (72,892 ) ¥ 221 ¥ (8,072 ) ¥ 61,914 ¥ 2,788 ¥ (16,041 ) Net unrealized gains (losses) on investment in securities, (181,083 ) (181,083 ) Reclassification adjustment included in net income, (1,300 ) (1,300 ) Debt valuation adjustments, net of tax of ¥(7) million 21 21 Reclassification adjustment included in net income, (9 ) (9 ) Defined benefit pension plans, net of tax of ¥39 million (54 ) (54 ) Reclassification adjustment included in net income, (138 ) (138 ) Foreign currency translation adjustments, net of tax of ¥5,849 105,084 105,084 Reclassification adjustment included in net income, 2,246 2,246 Net unrealized gains (losses) on derivative instruments, 22,216 22,216 Reclassification adjustment included in net income, (1,039 ) (1,039 ) Total other comprehensive income (loss) (182,383 ) 12 (192 ) 107,330 21,177 (54,056 ) Less: Other Comprehensive Income (loss) Attributable to the Noncontrolling Interests 0 0 (2 ) 3,857 1,963 5,818 Less: Other Comprehensive Income Attributable to the Redeemable Noncontrolling Interests 0 0 0 2 0 2 Balance at December 31, 2022 * ¥ (255,275 ) ¥ 233 ¥ (8,262 ) ¥ 165,385 ¥ 22,002 ¥ (75,917 ) * As of December 31, 2022, there were no net unrealized gains (losses) on investment in securities related to available-for-sale Changes in each component of accumulated other comprehensive income (loss) attributable to ORIX Corporation Shareholders for the three months ended December 31, 2021 and 2022, are as follows: Three months ended December 31, 2021 Millions of yen Net unrealized gains (losses) on investment in securities Debt Defined benefit pension Foreign currency translation adjustments Net unrealized gains (losses) on derivative instruments Accumulated other comprehensive income (loss) Balance at September 30, 2021 ¥ (7,888 ) ¥ 497 ¥ (20,923 ) ¥ (22,139 ) ¥ (9,369 ) ¥ (59,822 ) Net unrealized gains (losses) on investment in securities, 4,302 4,302 Reclassification adjustment included in net income, (49 ) (49 ) Debt valuation adjustments, net of tax of ¥(5) million 14 14 Reclassification adjustment included in net income, (7 ) (7 ) Defined benefit pension plans, net of tax of ¥33 million (72 ) (72 ) Reclassification adjustment included in net income, 89 89 Foreign currency translation adjustments, net of tax of ¥4,338 million 25,173 25,173 Reclassification adjustment included in net income, 247 247 Net unrealized gains (losses) on derivative instruments, 4,079 4,079 Reclassification adjustment included in net income, (563 ) (563 ) Total other comprehensive income 4,253 7 17 25,420 3,516 33,213 Transaction with noncontrolling interests 0 0 0 (1,472 ) (3 ) (1,475 ) Less: Other Comprehensive Income Attributable to the Noncontrolling Interests 0 0 0 1,058 227 1,285 Balance at December 31, 2021 * ¥ (3,635 ) ¥ 504 ¥ (20,906 ) ¥ 751 ¥ (6,083 ) ¥ (29,369 ) * As of December 31, 2021, there were no net unrealized gains (losses) on investment in securities related to available-for-sale Three months ended December 31, 2022 Millions of yen Net unrealized gains (losses) on investment in securities Debt Defined benefit pension Foreign currency translation adjustments Net unrealized gains (losses) on derivative instruments Accumulated other comprehensive income (loss) Balance at September 30, 2022 ¥ (216,759 ) ¥ 281 ¥ (8,390 ) ¥ 239,035 ¥ 19,847 ¥ 34,014 Net unrealized gains (losses) on investment in securities, (38,088 ) (38,088 ) Reclassification adjustment included in net income, (428 ) (428 ) Debt valuation adjustments, net of tax of ¥18 million (45 ) (45 ) Reclassification adjustment included in net income, (3 ) (3 ) Defined benefit pension plans, net of tax of ¥(42) million 171 171 Reclassification adjustment included in net income, (47 ) (47 ) Foreign currency translation adjustments, net of tax of ¥(21,294) million (79,909 ) (79,909 ) Reclassification adjustment included in net income, 2,144 2,144 Net unrealized gains (losses) on derivative instruments, 5,134 5,134 Reclassification adjustment included in net income, (2,488 ) (2,488 ) Total other comprehensive income (loss) (38,516 ) (48 ) 124 (77,765 ) 2,646 (113,559 ) Less: Other Comprehensive Income (loss) Attributable to the Noncontrolling Interests 0 0 (4 ) (4,029 ) 491 (3,542 ) Less: Other Comprehensive Income (loss) Attributable to the Redeemable Noncontrolling Interests 0 0 0 (86 ) 0 (86 ) Balance at December 31, 2022 * ¥ (255,275 ) ¥ 233 ¥ (8,262 ) ¥ 165,385 ¥ 22,002 ¥ (75,917 ) * As of December 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) in the nine months ended December 31, 2021 and 2022 are as follows: Nine months ended December 31, 2021 Details about accumulated other comprehensive income components Reclassification adjustment included in net income Millions of yen Consolidated statements of income caption Net unrealized gains (losses) on investment in securities Sales of debt securities ¥ 4,339 Gains on investment securities and dividends Sales of debt securities 1,784 Life insurance premiums and related investment income Amortization of debt securities 43 Finance revenues Amortization of debt securities (513 ) Life insurance premiums and related investment income Others (154 ) Write-downs of securities 5,499 Total before income tax (1,392 ) Income tax (expense) or benefit ¥ 4,107 Net of tax Debt valuation adjustments Fulfillment of policy liabilities and amortization of policy account balances ¥ 31 Life insurance costs 31 Total before income tax (9 ) Income tax (expense) or benefit ¥ 22 Net of tax Defined benefit pension plans Amortization of prior service credit ¥ 303 See Note 16 “Pension Plans” Amortization of net actuarial loss (692 ) See Note 16 “Pension Plans” Amortization of transition obligation (1 ) See Note 16 “Pension Plans” (390 ) Total before income tax 114 Income tax (expense) or benefit ¥ (276 ) Net of tax Foreign currency translation adjustments Foreign exchange contracts ¥ (1,256 ) Gains on sales of subsidiaries and affiliates and liquidation losses, net/Interest expense/Other (income) and expense Sales or liquidation 79 Gains on sales of subsidiaries and affiliates and liquidation losses, net (1,177 ) Total before income tax 378 Income tax (expense) or benefit ¥ (799 ) Net of tax Net unrealized gains (losses) on derivative instruments Interest rate swap agreements ¥ (1,338 ) Interest expense Foreign exchange contracts (247 ) Interest expense/Other (income) and expense Foreign currency swap agreements (132 ) Interest expense/Other (income) and expense (1,717 ) Total before income tax 458 Income tax (expense) or benefit ¥ (1,259 ) Net of tax Nine months ended December 31, 2022 Details about accumulated other comprehensive income components Reclassification adjustment included in net income Millions of yen Consolidated statements of income caption Net unrealized gains (losses) on investment in securities Sales of debt securities ¥ 119 Gains on investment securities and dividends Sales of debt securities 1,261 Life insurance premiums and related investment income Amortization of debt securities 369 Finance revenues Amortization of debt securities 553 Life insurance premiums and related investment income Others (537 ) Write-downs of securities 1,765 Total before income tax (465 ) Income tax (expense) or benefit ¥ 1,300 Net of tax Debt valuation adjustments Fulfillment of policy liabilities and amortization of policy account balances ¥ 12 Life insurance costs 12 Total before income tax (3 ) Income tax (expense) or benefit ¥ 9 Net of tax Defined benefit pension plans Amortization of prior service credit ¥ 257 See Note 16 “Pension Plans” Amortization of net actuarial loss (69 ) See Note 16 “Pension Plans” Amortization of transition obligation (1 ) See Note 16 “Pension Plans” 187 Total before income tax (49 ) Income tax (expense) or benefit ¥ 138 Net of tax Foreign currency translation adjustments Foreign exchange contracts ¥ (11,275 ) Gains on sales of subsidiaries and affiliates and liquidation losses, net/Interest expense/Other (income) and expense Sales or liquidation 8,052 Gains on sales of subsidiaries and affiliates and liquidation losses, net (3,223 ) Total before income tax 977 Income tax (expense) or benefit ¥ (2,246 ) Net of tax Net unrealized gains (losses) on derivative instruments Interest rate swap agreements ¥ (134 ) Interest expense Foreign exchange contracts 0 Interest expense/Other (income) and expense Foreign currency swap agreements 1,516 Interest expense/Other (income) and expense 1,382 Total before income tax (343 ) Income tax (expense) or benefit ¥ 1,039 Net of tax Amounts reclassified to net income from accumulated other comprehensive income (loss) in the three months ended December 31, 2021 and 2022 are as follows: Details about accumulated other comprehensive income components Three months ended December 31, 2021 Reclassification net income Consolidated statements of income caption Millions of yen Net unrealized gains (losses) on investment in securities Sales of debt securities ¥ 162 Gains on investment securities and dividends Sales of debt securities 369 Life insurance premiums and related investment income Amortization of debt securities (15 ) Finance revenues Amortization of debt securities (166 ) Life insurance premiums and related investment income Others (113 ) Write-downs of securities and other 237 Total before income tax (188 ) Income tax (expense) or benefit ¥ 49 Net of tax Debt valuation adjustments Fulfillment of policy liabilities and amortization of policy account balances ¥ 10 Life insurance costs 10 Total before income tax (3 ) Income tax (expense) or benefit ¥ 7 Net of tax Defined benefit pension plans Amortization of prior service credit ¥ 102 See Note 16 “Pension Plans” Amortization of net actuarial loss (231 ) See Note 16 “Pension Plans” Amortization of transition obligation (0 ) See Note 16 “Pension Plans” (129 ) Total before income tax 40 Income tax (expense) or benefit ¥ (89 ) Net of tax Foreign currency translation adjustments Foreign exchange contracts (358 ) Interest expense (358 ) Total before income tax 111 Income tax (expense) or benefit ¥ (247 ) Net of tax Net unrealized gains (losses) on derivative instruments Interest rate swap agreements ¥ (796 ) Interest expense Foreign exchange contracts (123 ) Interest expense/Other (income) and expense Foreign currency swap agreements 1,617 Interest expense/Other (income) and expense 698 Total before income tax (135 ) Income tax (expense) or benefit ¥ 563 Net of tax Three months ended December 31, 2022 Details about accumulated other comprehensive income components Reclassification net income Consolidated statements of income caption Millions of yen Net unrealized gains (losses) on investment in securities Sales of debt securities ¥ 102 Gains on investment securities and dividends Sales of debt securities 450 Life insurance premiums and related investment income Amortization of debt securities 207 Finance revenues Amortization of debt securities 379 Life insurance premiums and related investment income Others (537 ) Write-downs of securities and other 601 Total before income tax (173 ) Income tax (expense) or benefit ¥ 428 Net of tax Debt valuation adjustments Fulfillment of policy liabilities and amortization of policy account balances ¥ 4 Life insurance costs 4 Total before income tax (1 ) Income tax (expense) or benefit ¥ 3 Net of tax Defined benefit pension plans Amortization of prior service credit ¥ 87 See Note 16 “Pension Plans” Amortization of net actuarial loss (24 ) See Note 16 “Pension Plans” Amortization of transition obligation (0 ) See Note 16 “Pension Plans” 63 Total before income tax (16 ) Income tax (expense) or benefit ¥ 47 Net of tax Foreign currency translation adjustments Foreign exchange contracts ¥ (9,622 ) Gains on sales of subsidiaries and affiliates and liquidation Sales or liquidation ¥ 6,513 Gains on sales of subsidiaries and affiliates and liquidation (3,109 ) Total before income tax 965 Income tax (expense) or benefit ¥ (2,144 ) Net of tax Net unrealized gains (losses) on derivative instruments Interest rate swap agreements ¥ 23 Interest expense Foreign exchange contracts 164 Interest expense/Other (income) and expense Foreign currency swap agreements 3,080 Interest expense/Other (income) and expense 3,267 Total before income tax (779 ) Income tax (expense) or benefit ¥ 2,488 Net of tax |
ORIX Corporation Shareholders'
ORIX Corporation Shareholders' Equity | 9 Months Ended |
Dec. 31, 2022 | |
Stockholders' Equity Note [Abstract] | |
ORIX Corporation Shareholders' Equity | 14. ORIX Corporation Shareholders’ Equity Information about ORIX Corporation Shareholders’ Equity for the nine months ended December 31, 2021 and 2022 are as follows: (1) Dividend payments Nine months ended December 31, 2021 Nine months ended December 31, 2022 Resolution The board of directors on May 20, 2021 The board of directors on May 18, 2022 Type of shares Common stock Common stock Total dividends paid ¥52,438 million ¥55,704 million Dividend per share ¥43.00 ¥46.60 Date of record for dividend March 31, 2021 March 31, 2022 Effective date for dividend June 7, 2021 June 3, 2022 Dividend resource Retained earnings Retained earnings Resolution The board of directors on November 4, 2021 The board of directors on November 7, 2022 Type of shares Common stock Common stock Total dividends paid ¥46,957 million ¥50,586 million Dividend per share ¥39.00 ¥42.80 Date of record for dividend September 30, 2021 September 30, 2022 Effective date for dividend December 9, 2021 December 6, 2022 Dividend resource Retained earnings Retained earnings Total dividends paid by resolution of the board of directors on May 20, 2021 include ¥92 million of dividends paid to the Board Incentive Plan Trust for the nine months ended December 31, 2021. Total dividends paid by resolution of the board of directors on May 18, 2022 include ¥91 million of dividends paid to the Board Incentive Plan Trust for the nine months ended December 31, 2022. Total dividends paid by resolution of the board of directors on November 4, 2021 include ¥83 million of dividends paid to the Board Incentive Plan Trust for the nine months ended December 31, 2021. Total dividends paid by resolution of the board of directors on November 7, 2022 include ¥122 million of dividends paid to the Board Incentive Plan Trust for the nine months ended December 31, 2022. (2) There were no applicable dividends for which the date of record was during the nine months ended December 31, 2021 and 2022, and for which the effective date was after December 31, 2021 and 2022, for each respective period. |
Selling, General and Administra
Selling, General and Administrative Expenses | 9 Months Ended |
Dec. 31, 2022 | |
Text Block [Abstract] | |
Selling, General and Administrative Expenses | 15. Selling, General and Administrative Expenses Selling, general and administrative expenses for the nine months ended December 31, 2021 and 2022 are as follows: Millions of yen Nine months ended Nine months ended Personnel expenses ¥ 220,758 ¥ 238,728 Selling expenses 52,825 64,151 Administrative expenses 98,174 102,845 Depreciation of office facilities 6,767 6,563 Total ¥ 378,524 ¥ 412,287 Selling, general and administrative expenses for the three months ended December 31, 2021 and 2022 are as follows: Millions of yen Three months ended December 31, 2021 Three months ended December 31, 2022 Personnel expenses ¥ 76,296 ¥ 84,628 Selling expenses 20,616 22,900 Administrative expenses 33,400 34,592 Depreciation of office facilities 2,328 2,213 Total ¥ 132,640 ¥ 144,333 |
Pension Plans
Pension Plans | 9 Months Ended |
Dec. 31, 2022 | |
Retirement Benefits [Abstract] | |
Pension Plans | 16. 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. Net periodic pension cost for the nine months ended December 31, 2021 and 2022 consists of the following: Millions of yen Nine months ended December 31, 2021 Nine months ended December 31, 2022 Japanese plans: Service cost ¥ 4,540 ¥ 4,290 Interest cost 594 522 Expected return on plan assets (1,997 ) (2,051 ) Amortization of prior service credit (50 ) (19 ) Amortization of net actuarial loss 309 58 Net periodic pension cost ¥ 3,396 ¥ 2,800 Millions of yen Nine months ended December 31, 2021 Nine months ended December 31, 2022 Overseas plans: Service cost ¥ 2,966 ¥ 2,741 Interest cost 986 1,533 Expected return on plan assets (3,139 ) (3,561 ) Amortization of prior service credit (253 ) (238 ) Amortization of net actuarial loss 383 11 Amortization of transition obligation 1 1 Net periodic pension cost ¥ 944 ¥ 487 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. Net periodic pension cost for the three months ended December 31, 2021 and 2022 consists of the following: Millions of yen Three months ended December 31, 2021 Three months ended December 31, 2022 Japanese plans: Service cost ¥ 1,517 ¥ 1,465 Interest cost 175 175 Expected return on plan assets (666 ) (689 ) Amortization of prior service credit (17 ) (6 ) Amortization of net actuarial loss 103 20 Net periodic pension cost ¥ 1,112 ¥ 965 Millions of yen Three months ended December 31, 2021 Three months ended December 31, 2022 Overseas plans: Service cost ¥ 992 ¥ 928 Interest cost 327 523 Expected return on plan assets (1,046 ) (1,213 ) Amortization of prior service credit (85 ) (81 ) Amortization of net actuarial loss 128 4 Amortization of transition obligation 0 0 Net periodic pension cost ¥ 316 ¥ 161 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. |
Life Insurance Operations
Life Insurance Operations | 9 Months Ended |
Dec. 31, 2022 | |
Insurance [Abstract] | |
Life Insurance Operations | 17. Life Insurance Operations Life insurance premiums and related investment income for the nine and three months ended December 31, 2021 and 2022 consist of the following: Millions of yen Nine months ended December 31, 2021 Nine months ended December 31, 2022 Life insurance premiums ¥ 311,165 ¥ 328,308 Life insurance related investment income* 37,536 28,009 ¥ 348,701 ¥ 356,317 * Life insurance related investment income for the nine months ended December 31, 2021 and 2022 include net unrealized holding a gain of ¥12,096 million and a loss of ¥9,301 million on equity securities held as of December 31, 2021 and 2022, respectively. Millions of yen Three months ended December 31, 2021 Three months ended December 31, 2022 Life insurance premiums ¥ 102,690 ¥ 107,546 Life insurance related investment income (loss)* 13,214 (14,440 ) ¥ 115,904 ¥ 93,106 * Life insurance related investment income ( loss Life insurance premiums include reinsurance benefits, net of reinsurance premiums. For the nine and three months ended December 31, 2021 and 2022, reinsurance benefits and reinsurance premiums included in life insurance premiums are as follows: Millions of yen Nine months ended December 31, 2021 Nine months ended December 31, 2022 Reinsurance benefits ¥ 1,114 ¥ 1,080 Reinsurance premiums (3,272 ) (3,560 ) Millions of yen Three months ended December 31, 2021 Three months ended December 31, 2022 Reinsurance benefits ¥ 262 ¥ 423 Reinsurance premiums (1,046 ) (1,170 ) The benefits and expenses of life insurance operations included in life insurance costs in the consolidated statements of income are recognized so as to associate with earned premiums over the life of contracts. This association is accomplished by means of the provision for future policy benefits and the deferral and subsequent amortization of policy acquisition costs (principally commissions and certain other expenses directly relating to policy issuance and underwriting). Amortization charged to income for the nine months ended December 31, 2021 and 2022 amounted to ¥15,947 million and ¥18,181 million, respectively. In addition, amortization charged to income for the three months ended December 31, 2021 and 2022 amounted to ¥4,608 million and ¥10,297 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 the nine and three months ended December 31, 2021 and 2022 are mainly as follows: Millions of yen Nine months ended December 31, 2021 Nine months ended December 31, 2022 Life insurance premiums and related investment income : Net realized and unrealized gains or losses from investment assets ¥ 13,282 ¥ (10,994 ) Net gains or losses from derivative contracts : (1,359 ) (203 ) Futures (1,206 ) 200 Foreign exchange contracts (153 ) (403 ) Life insurance costs : Changes in the fair value of the policy liabilities and policy account balances ¥ (50,289 ) ¥ (35,931 ) Insurance costs recognized for insurance and annuity payouts as a result of insured events 58,161 23,179 Changes in the fair value of the reinsurance contracts 1,028 76 Millions of yen Three months ended December 31, 2021 Three months ended December 31, 2022 Life insurance premiums and related investment income : Net realized and unrealized gains or losses from investment assets ¥ 2,419 ¥ 826 Net gains or losses from derivative contracts : (198 ) (455 ) Futures (83 ) (652 ) Foreign exchange contracts (115 ) 197 Life insurance costs : Changes in the fair value of the policy liabilities and policy account balances ¥ (10,004 ) ¥ (7,286 ) Insurance costs recognized for insurance and annuity payouts as a result of insured events 11,145 6,213 Changes in the fair value of the reinsurance contracts 295 564 |
Write-Downs of Long-Lived Asset
Write-Downs of Long-Lived Assets | 9 Months Ended |
Dec. 31, 2022 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Write-Downs of Long-Lived Assets | 18. Write-Downs of Long-Lived Assets The Company and its subsidiaries perform tests for recoverability on long-lived assets classified as held and used for which events or changes in circumstances indicated that the assets might be impaired. The Company and its subsidiaries consider an asset’s carrying amount as not recoverable when such carrying amount exceeds the undiscounted future cash flows estimated to result from the use and eventual disposition of the asset. The net carrying amount of assets not recoverable is reduced to fair value if lower than the carrying amount. As of March 31, 2022 and December 31, 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 As of March 31, 2022 As of December 31, 2022 Investment in operating leases ¥ 35,061 ¥ 13,359 Property under facility operations 8,376 8 Office facilities 1,375 0 Other assets 1,556 0 Other liabilities 1,761 0 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 long-lived assets classified as held for sale as of December 31, 2022 are included in Corporate Financial Services and Maintenance Leasing segment, Real Estate segment, Aircraft and Ships segment, Environment and Energy 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, and others For the nine months ended December 31, 2021 and 2022, the Company and its subsidiaries recognized impairment losses for the difference between carrying amounts and fair values in the amount of ¥15,068 million and ¥1,807 million, respectively, which are reflected as write-downs of long-lived assets. Breakdowns of these amounts are as follows. Nine months ended December 31, 2021 Nine months ended December 31, 2022 Amount (Millions of yen) The number of Amount (Millions of yen) The number of Write-downs of the assets held for sale: Commercial facilities other than office buildings ¥ 757 2 ¥ 0 — Condominiums 13 2 0 — Others* 11,878 — 75 — Total ¥ 12,648 — ¥ 75 — Nine months ended December 31, 2021 Nine months ended December 31, 2022 Amount The number of Amount The number of Write-downs due to decline in estimated future cash flows: Office buildings ¥ 0 0 ¥ 1,535 2 Commercial facilities other than office buildings 11 1 51 2 Condominiums 3 4 3 3 Others* 2,406 — 143 — Total ¥ 2,420 — ¥ 1,732 — * For “Others,” the number of properties is omitted. In addition, write-downs of other long-lived assets for the nine months ended December 31, 2021 include write-downs of ¥11,641 million of property under facility operations and others held by a subsidiary and ¥2,331 million of two aircrafts. Losses of ¥233 million in Corporate Financial Services and Maintenance Leasing segment, ¥26 million in Real Estate segment, ¥11,646 million in PE Investment and Concession segment, ¥2,331 million in Aircraft and Ships segment, ¥828 million in ORIX USA segment and ¥4 million in Asia and Australia segment were recorded for the nine months ended December 31, 2021. Losses of ¥1,709 million in Real Estate segment, ¥39 million in PE Investment and Concession segment, ¥58 million in Environment and Energy segment and ¥1 million in Asia and Australia segment were recorded for the nine months ended December 31, 2022. For the three months ended December 31, 2021 and 2022, the Company and its subsidiaries recognized impairment losses for the difference between carrying amounts and fair values in the amount of ¥14,980 million and ¥1,554 million, respectively, which are reflected as write-downs of long-lived assets. Breakdowns of these amounts are as follows. Three months ended December 31, 2021 Three months ended December 31, 2022 Amount (Millions of yen) The number of Amount (Millions of yen) The number of Write-downs of the assets held for sale: Commercial facilities other than office buildings ¥ 757 2 ¥ 0 0 Condominiums 12 1 0 0 Others* 11,878 — 19 — Total ¥ 12,647 — ¥ 19 — Three months ended December 31, 2021 Three months ended December 31, 2022 Amount (Millions of yen) The number of Amount (Millions of yen) The number of Write-downs due to decline in estimated future cash flows: Office buildings ¥ 0 0 ¥ 1,535 2 Condominiums 2 3 0 0 Others* 2,331 — 0 — Total ¥ 2,333 — ¥ 1,535 — * For “Others,” the number of properties is omitted. In addition, write-downs of other long-lived assets for the three months ended December 31, 2021 include write-downs of ¥11,641 million of property under facility operations and others held by a subsidiary and ¥2,331 million of two aircrafts. Losses of ¥233 million in Corporate Financial Services and Maintenance Leasing segment, ¥14 million in Real Estate segment, ¥11,645 million in PE Investment and Concession segment, ¥2,331 million in Aircraft and Ships segment and ¥757 million in ORIX USA segment were recorded for the three months ended December 31, 2021. Losses of ¥1,535 million in Real Estate segment, ¥19 million in Environment and Energy segment were recorded for the three months ended December 31, 2022. |
Per Share Data
Per Share Data | 9 Months Ended |
Dec. 31, 2022 | |
Earnings Per Share [Abstract] | |
Per Share Data | 19. Per Share Data Reconciliation of the differences between basic and diluted earnings per share (EPS) in the nine and three months ended December 31, 2021 and 2022 is as follows: During the nine and three months ended December 31, 2021 and 2022, there was no stock compensation which was antidilutive. Millions of yen Nine months ended December 31, 2021 Nine months ended December 31, 2022 Net Income attributable to ORIX Corporation shareholders ¥ 211,341 ¥ 211,388 Millions of yen Three months ended December 31, 2021 Three months ended December 31, 2022 Net Income attributable to ORIX Corporation shareholders ¥ 64,659 ¥ 89,612 Thousands of Shares Nine months ended December 31, 2021 Nine months ended December 31, 2022 Weighted-average shares 1,206,467 1,183,372 Effect of dilutive securities— Stock compensation 1,324 1,488 Weighted-average shares for diluted EPS computation 1,207,791 1,184,860 Thousands of Shares Three months ended December 31, 2021 Three months ended December 31, 2022 Weighted-average shares 1,197,290 1,174,396 Effect of dilutive securities— Stock compensation 1,422 1,572 Weighted-average shares for diluted EPS computation 1,198,712 1,175,968 Yen Nine months ended December 31, 2021 Nine months ended December 31, 2022 Earnings per share for net income attributable to ORIX Corporation shareholders: Basic ¥ 175.17 ¥ 178.63 Diluted 174.98 178.41 Yen Three months ended December 31, 2021 Three months ended December 31, 2022 Earnings per share for net income attributable to ORIX Corporation shareholders: Basic ¥ 54.00 ¥ 76.30 Diluted 53.94 76.20 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. (2,147,048 and 2,405,482 |
Derivative Financial Instrument
Derivative Financial Instruments and Hedging | 9 Months Ended |
Dec. 31, 2022 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Financial Instruments and Hedging | 20. Derivative Financial Instruments and Hedging Risk management policy The Company and its subsidiaries manage interest rate risk through asset-liability management (“ALM”). The Company and its subsidiaries use derivative financial instruments to hedge interest rate risk and avoid changes in interest rates that could have a significant adverse effect on the Company’s results of operations. As a result of interest rate changes, the fair value and/or cash flow of interest sensitive assets and liabilities will fluctuate. However, such fluctuation will generally be offset by using derivative financial instruments as hedging instruments. Derivative financial instruments that the Company and its subsidiaries use as part of the interest risk management include interest rate swaps. The Company and its subsidiaries utilize foreign currency borrowings, foreign exchange contracts and foreign currency swap agreements to hedge exchange rate risk that are associated with certain transactions and investments denominated in foreign currencies. Similarly, overseas subsidiaries generally structure their liabilities to match the currency-denomination of assets in each region. A certain subsidiary holds 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, 2022 and December 31, 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. (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) into income Interest expense Other (income) and expense Interest rate swap agreements ¥ 4,541 ¥ 1,338 ¥ 0 Foreign exchange contracts (311 ) (269 ) 516 Foreign currency swap agreements 1,360 413 (281 ) (2) Fair value hedges Millions of yen Gains (losses) recognized in income on derivative and other Gains (losses) recognized in income on hedged item Life insurance premiums Other (income) and Life insurance premiums Other (income) and Interest rate swap agreements ¥ 127 ¥ 0 ¥ (17 ) ¥ 0 Foreign exchange contracts (13,879 ) 132 13,861 (46 ) (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 Foreign exchange contracts ¥ (7,127 ) ¥ (104 ) ¥ 1,147 ¥ 5 Borrowings and bonds in foreign currencies (22,868 ) 0 0 0 (4) Derivatives not designated as hedging instruments Millions of yen Gains (losses) recognized in income on derivative Life insurance premiums and Interest expense Other (income) and Interest rate swap agreements ¥ 0 ¥ 4 ¥ (21 ) Futures (1,206 ) 0 1,401 Foreign exchange contracts 8,486 950 13,484 Credit derivatives held 0 0 (1 ) Options held/written and other 0 0 (1,267 ) * 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 the nine months ended December 31, 2021 (see Note 17 “Life Insurance Operations”). The effect of derivative instruments on the consolidated statements of income, pre-tax, (1) Cash flow hedges Millions of yen Gains (losses) recognized in other comprehensive income on derivative Gains (losses) reclassified from other comprehensive income (loss) into income Interest expense Other (income) and expense Interest rate swap agreements ¥ 27,068 ¥ 134 ¥ 0 Foreign exchange contracts (177 ) (896 ) 896 Foreign currency swap agreements 1,385 563 (2,079 ) (2) Fair value hedges Millions of yen Gains (losses) recognized in income on derivative and other Gains (losses) recognized in income on hedged item Life insurance premiums Other (income) and Life insurance premiums Other (income) and Interest rate swap agreements ¥ 2,934 ¥ 0 ¥ (2,815 ) ¥ 0 Foreign exchange contracts (39,442 ) (231 ) 39,513 178 (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 Foreign exchange contracts ¥ (13,498 ) ¥ (7,309 ) ¥ 4,218 ¥ (252 ) Borrowings and bonds in foreign currencies (60,048 ) 0 0 0 (4) Derivatives not designated as hedging instruments Millions of yen Gains (losses) recognized in income on derivative Life insurance premiums and Interest expense Other (income) and Interest rate swap agreements ¥ 0 ¥ 4 ¥ (209 ) Futures 200 0 (2,455 ) Foreign exchange contracts 18,223 3,075 45,954 Credit derivatives written 0 0 4 Options held/written and other 0 0 2,021 * Futures and foreign exchange contracts in the above table include gains (losses) arising from futures and foreign exchange contracts to economically hedge the minimum guarantee risk of variable annuity and variable life insurance contracts for the nine months ended December 31, 2022 (see Note 17 “Life Insurance Operations”). The effect of derivative instruments on the consolidated statements of income, pre-tax, (1) Cash flow hedges Millions of yen Gains (losses) recognized in other comprehensive income on derivative Gains (losses) reclassified from other comprehensive income (loss) into income Interest expense Other (income) and expense Interest rate swap agreements ¥ 3,391 ¥ 796 ¥ 0 Foreign exchange contracts (140 ) (215 ) 338 Foreign currency swap agreements 1,927 123 (1,740 ) (2) Fair value hedges Millions of yen Gains (losses) recognized in income on derivative and other Gains (losses) recognized in income on hedged item Life insurance premiums and related investment Other (income) and Life insurance premiums Other (income) and Interest rate swap agreements ¥ 1,048 ¥ 0 ¥ (1,048 ) ¥ 0 Foreign exchange contracts (9,252 ) 34 9,194 29 (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 Interest expense Foreign exchange contracts ¥ (6,583 ) ¥ 358 Borrowings and bonds in foreign currencies (16,469 ) 0 (4) Derivatives not designated as hedging instruments Millions of yen Gains (losses) recognized in income on derivative Life insurance premiums and Interest expense Other (income) and Interest rate swap agreements ¥ 0 ¥ 1 ¥ 0 Futures (83 ) 0 668 Foreign exchange contracts 4,740 232 11,069 Options held/written and other 0 0 (2,026 ) * 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 the three months ended December 31, 2021 (see Note 17 “Life Insurance Operations”). The effect of derivative instruments on the consolidated statements of income, pre-tax, (1) Cash flow hedges Millions of yen Gains (losses) recognized in other comprehensive income on derivative Gains (losses) reclassified from other comprehensive income (loss) into income Interest expense Other (income) and Interest rate swap agreements ¥ 4,562 ¥ (23 ) ¥ 0 Foreign exchange contracts (5 ) (913 ) 749 Foreign currency swap agreements 1,930 261 (3,341 ) (2) Fair value hedges Millions of yen Gains (losses) recognized in income on derivative and other Gains (losses) recognized in income on hedged item Life insurance premiums Other (income) and Life insurance premiums Other (income) and Interest rate swap agreements ¥ (239 ) ¥ 0 ¥ 243 ¥ 0 Foreign exchange contracts 39,225 218 (39,304 ) (221 ) (3) Hedges of net investment in foreign operations Millions of yen Gains (losses) recognized in income on derivative and others Gains (losses) reclassified from other comprehensive income (loss) into income Gains on sales of Interest expense Foreign exchange contracts ¥ 11,097 ¥ (7,360 ) ¥ 2,262 Borrowings and bonds in foreign currencies 62,691 0 0 (4) Derivatives not designated as hedging instruments Millions of yen Gains (losses) recognized in income on derivative Life insurance premiums and Interest expense Other (income) and Interest rate swap agreements ¥ 0 ¥ 1 ¥ (70 ) Futures (652 ) 0 1,650 Foreign exchange contracts (16,249 ) 1,125 (5,635 Credit derivatives written 0 0 0 Options held/written and other 0 0 2,907 * Futures and foreign exchange contracts in the above table include gains (losses) arising from futures and foreign exchange contracts to economically hedge the minimum guarantee risk of variable annuity and variable life insurance contracts for the three months ended December 31, 2022 (see Note 17 “Life Insurance Operations”). The effect of the components excluded from the assessment of hedge effectiveness on the consolidated statements of income, pre-tax, Fair value hedges Millions of yen Gains (losses) recognized in income Life insurance premiums and related Interest expense Other (income) and expense Foreign exchange contracts ¥ (1,072 ) ¥ 6 ¥ 0 Options held/written and other 0 0 22 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 and related Interest expense Other (income) and expense Foreign exchange contracts ¥ (375 ) ¥ 4 ¥ 0 Options held/written and other 0 0 8 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 (excluding the effect of changes in foreign exchange rates) 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 The cumulative Consolidated balance sheets location Carrying The cumulative Investment in Securities ¥ 422,938 ¥ 1,147 — — — Installment Loans 28,836 55 — — — 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 and related Interest expense Other (income) and expense Foreign exchange contracts ¥ (7,104 ) ¥ 17 ¥ 0 Options held/written and other 0 0 41 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 and related Interest expense Other (income) and expense Foreign exchange contracts ¥ (5,630 ) ¥ 3 ¥ 0 Options held/written and other 0 0 14 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 (excluding the effect of changes in foreign exchange rates) at December 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 The cumulative Consolidated balance sheets location Carrying The cumulative Investment in Securities ¥ 443,892 ¥ (1,553 ) — ¥ 0 ¥ 0 Installment Loans 13,977 1 — 0 0 Notional amounts of derivative instruments and other, fair values of derivative instruments and other before offsetting at March 31, 2022 and December 31, 2022 are as follows. March 31, 2022 Derivative assets Derivative liabilities Notional amount Fair value Consolidated balance sheets location Fair value Consolidated balance sheets location Millions of yen Millions of yen Millions of yen Derivatives designated as hedging instruments and other: Interest rate swap agreements ¥ 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. December 31, 2022 Derivative assets Derivative liabilities Notional amount Fair value Consolidated balance sheets location Fair value Consolidated balance sheets location Millions of yen Millions of yen Millions of yen Derivatives designated as hedging instruments and other: Interest rate swap agreements ¥ 495,902 ¥ 25,840 Other Assets ¥ 1,384 Other Liabilities Options held/written and other 791 18 Other Assets 0 — Futures, foreign exchange contracts 996,909 31,829 Other Assets 11,029 Other Liabilities Foreign currency swap agreements 100,321 561 Other Assets 4,070 Other Liabilities Foreign currency long-term debt 740,123 0 — 0 — Derivatives not designated as hedging instruments: Interest rate swap agreements ¥ 425 ¥ 0 — ¥ 5 Other Liabilities Options held/written and other 571,465 39,592 Other Assets 36,858 Other Liabilities Futures, foreign exchange contracts * 691,570 21,953 Other Assets 6,425 Other Liabilities Credit derivatives written 1,000 0 — 4 Other Liabilities * The notional amounts of futures and foreign exchange contracts in the above table include futures contracts of ¥16,309 million and foreign exchange contracts of ¥5,305 million to economically hedge the minimum guarantee risk of variable annuity and variable life insurance contracts at December 31, 2022, respectively. Derivative assets in the above table include fair value of the futures and foreign exchange contracts before offsetting of ¥416 million and ¥308 million and derivative liabilities include fair value of futures and foreign exchange contracts before offsetting of ¥2 million and ¥15 million at December 31, 2022, respectively. The Company and its subsidiaries have contracted credit derivatives for the purpose of trading. Details of credit derivatives written as of December 31, 2022 are as follows and there are no credit derivatives written as of March 31, 2022. Types of derivatives The events or circumstances Maximum potential Approximate Fair value of Millions of yen Millions of yen Credit default swap In case of credit event (bankruptcy, failure to pay, restructuring) occurring in underlying refence company * ¥ 1,000 Less than five years ¥ (4 ) * Underlying reference company’s credit ratings are A1 or better rated by rating agencies as of December 31, 2022. |
Offsetting Assets and Liabiliti
Offsetting Assets and Liabilities | 9 Months Ended |
Dec. 31, 2022 | |
Text Block [Abstract] | |
Offsetting Assets and Liabilities | 21. Offsetting Assets and Liabilities The gross amounts recognized, gross amounts offset, and net amounts presented in the consolidated balance sheets regarding derivative assets and liabilities as of March 31, 2022 and December 31, 2022 are as follows. March 31, 2022 Millions of yen Gross amounts recognized Gross amounts offset in the consolidated balance sheets Net amounts presented in the consolidated balance sheets Gross amounts not offset in the consolidated balance sheets * Net amount Financial instruments Collateral received/pledged Derivative assets ¥ 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 December 31, 2022 Millions of yen Gross amounts recognized Gross amounts offset in the balance sheets Net amounts presented in the consolidated balance sheets Gross amounts not offset in the consolidated balance sheets * Net amount Financial instruments Collateral received/pledged Derivative assets ¥ 119,793 ¥ (16,464 ) ¥ 103,329 ¥ 0 ¥ (24,334 ) ¥ 78,995 Total assets ¥ 119,793 ¥ (16,464 ) ¥ 103,329 ¥ 0 ¥ (24,334 ) ¥ 78,995 Derivative liabilities ¥ 59,775 ¥ (16,464 ) ¥ 43,311 ¥ 0 ¥ 0 ¥ 43,311 Total liabilities ¥ 59,775 ¥ (16,464 ) ¥ 43,311 ¥ 0 ¥ 0 ¥ 43,311 * The balances related to enforceable master netting agreements or similar agreements which were not offset in the consolidated balance sheets. |
Estimated Fair Value of Financi
Estimated Fair Value of Financial Instruments | 9 Months Ended |
Dec. 31, 2022 | |
Fair Value Disclosures [Abstract] | |
Estimated Fair Value of Financial Instruments | 22. Estimated Fair Value of Financial Instruments The following information is provided to help readers gain an understanding of the relationship between carrying 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, 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 3 “Fair Value Measurements.” December 31, 2022 Millions of yen Carrying amount Estimated fair value Level 1 Level 2 Level 3 Assets: Cash and cash equivalents ¥ 951,148 ¥ 951,148 ¥ 951,148 ¥ 0 ¥ 0 Restricted cash 115,870 115,870 115,870 0 0 Installment loans (net of allowance for credit losses) 3,868,533 3,835,656 0 120,242 3,715,414 Equity securities*1 355,370 355,370 100,108 127,944 127,318 Trading debt securities 2,968 2,968 0 2,968 0 Available-for-sale 2,107,359 2,107,359 5,087 1,899,591 202,681 Held-to-maturity 114,757 126,304 0 106,038 20,266 Other Assets: Time deposits 5,241 5,241 0 5,241 0 Derivative assets*2 103,329 103,329 0 0 0 Reinsurance recoverables (Investment contracts) 5,556 5,161 0 0 5,161 Liabilities: Short-term debt ¥ 445,537 ¥ 445,537 ¥ 0 ¥ 445,537 ¥ 0 Deposits 2,139,416 2,140,125 0 2,140,125 0 Policy liabilities and Policy account balances (Investment contracts) 150,004 149,656 0 0 149,656 Long-term debt 4,759,717 4,704,252 0 1,619,619 3,084,633 Other Liabilities: Derivative liabilities*2 43,311 43,311 0 0 0 *1 The amount of ¥46,085 million of investment funds measured at net asset value per share is not included. *2 It represents the amount after offset under counterparty netting of derivative assets and liabilities. For the information of input level before netting, see Note 3 “Fair Value Measurements.” Input level of fair value measurement If active market prices are available, fair value measurement is based on quoted active market prices and classified as Level 1. If active market prices are not available, fair value measurement is based on observable inputs other than quoted prices included within Level 1 such as quoted market prices of similar assets and classified as Level 2. If market prices are not available and there are no observable inputs, then fair value is estimated by using valuation models including discounted cash flow methodologies, commonly used option-pricing models and broker quotes and classified as Level 3, as the valuation models and broker quotes are based on inputs that are unobservable in the market. |
Commitments, Guarantees and Con
Commitments, Guarantees and Contingent Liabilities | 9 Months Ended |
Dec. 31, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments, Guarantees and Contingent Liabilities | 23. Commitments, Guarantees and Contingent Liabilities Commitments Certain computer systems of the Company and certain subsidiaries have been operated and maintained under non-cancelable Millions of yen March 31, December 31, Within one year ¥ 5,205 ¥ 5,984 More than one year 5,569 7,688 Total ¥ 10,774 ¥ 13,672 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 and ¥178,665 million as of March 31, 2022 and December 31, 2022, respectively. The Company and certain subsidiaries have agreements to commit to execute loans for customers, and to invest in funds, as long as the agreed-upon terms are met. The total unused credit and capital amount available are ¥436,784 million and ¥473,522 million as of March 31, 2022 and December 31, 2022, respectively. Guarantees March 31, 2022 December 31, 2022 Millions of yen Fiscal year Millions of yen Fiscal year Guarantees Potential future payment Book value of guarantee liabilities Maturity of the longest contract Potential future payment Book value of guarantee liabilities Maturity of the longest contract Corporate loans ¥ 436,414 ¥ 4,895 2027 ¥ 479,687 ¥ 5,061 2028 Transferred loans 417,587 4,103 2062 438,392 2,781 2062 Consumer loans 284,891 47,461 2033 290,057 48,462 2033 Real estate loans 12,087 3,953 2048 6,589 2,075 2048 Other 2,294 46 2035 2,486 0 2036 Total ¥ 1,153,273 ¥ 60,458 — ¥ 1,217,211 ¥ 58,379 — Guarantee of corporate loans: Payment or performance risk of the guarantees is considered based on the historical experience of credit events. There have been no significant changes in the payment or performance risk of the guarantees for the nine months ended December 31, 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 for the nine months ended December 31, 2022. As of March 31, 2022 and December 31, 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 ¥2,121,074 million and ¥2,208,917 million, respectively. Guarantee of consumer loans: Payment or performance risk of the guarantees is considered based on the historical experience of credit events. There were no significant changes in the payment or performance risk of the guarantees for the nine months ended December 31, 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 for the nine months ended December 31, 2022. Other guarantees: Allowance for off-balance off-balance off-balance off-balance off-balance Contingencies— Collateral— Millions of yen March 31, 2022 December 31, 2022 Lease payments, loans and investment in operating leases ¥ 106,699 ¥ 111,694 Investment in securities 175,912 173,845 Property under facility operations 112,730 125,676 Other assets and other 27,784 69,098 Total ¥ 423,125 ¥ 480,313 As of March 31, 2022 and December 31, 2022, debt liabilities were secured by shares of subsidiaries, which were eliminated through consolidation adjustment, of ¥147,428 million and ¥107,496 million, respectively, and debt liabilities of affiliates were secured by investment in affiliates of ¥38,399 million and ¥31,872 million, respectively. As of March 31, 2022 and December 31, 2022, and debt liabilities were secured by loans to subsidiaries, which were eliminated through consolidation adjustment, of ¥10,531 million and ¥10,109 million, respectively. In addition, ¥74,334 million and ¥85,561 million, respectively, were pledged primarily by investment in securities for collateral deposits and deposit for real estate transaction as of March 31, 2022 and December 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 December 31, 2022. |
Segment Information
Segment Information | 9 Months Ended |
Dec. 31, 2022 | |
Segment Reporting [Abstract] | |
Segment Information | 24. Segment Information Financial information about the operating segments reported below is available by segment and evaluated regularly by the chief operating decision maker to make decisions 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; 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; consumer finance Aircraft and Ships : Aircraft investment 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, 2022, a portion of interest expenses and a portion of selling, general and administrative expenses, which were initially included in the difference between segment total profits and consolidated amounts, have been charged directly to their respective segments. As a result of these changes, segment data for the three and nine months ended December 31, 2021 has been retrospectively restated. Financial information of the segments for the nine months ended December 31, 2021 and 2022, and segment assets information as of March 31, 2022 and December 31, 2022 are as follows: Millions of yen Nine months ended December 31, 2021 Nine months ended December 31, 2022 March 31, 2022 December 31, Segment revenues Segment profits Segment revenues Segment profits Segment assets Segment assets Corporate Financial Services and Maintenance Leasing ¥ 337,945 ¥ 61,871 ¥ 321,647 ¥ 56,444 ¥ 1,516,795 ¥ 1,515,425 Real Estate 294,257 26,629 288,293 24,486 910,101 946,145 PE Investment and Concession 281,009 (10,570 ) 312,090 6,713 353,581 340,764 Environment and Energy 107,167 18,332 168,419 34,140 703,608 761,789 Insurance 352,192 44,669 360,085 24,010 2,072,145 1,944,773 Banking and Credit 65,019 32,599 62,324 24,868 2,687,156 2,727,982 Aircraft and Ships 29,305 2,841 42,369 17,007 684,098 695,819 ORIX USA 122,697 67,433 135,261 33,032 1,364,142 1,454,653 ORIX Europe 171,017 55,987 157,653 35,893 401,869 404,920 Asia and Australia 108,878 35,108 142,719 34,071 1,306,089 1,394,435 Total ¥ 1,869,486 ¥ 334,899 ¥ 1,990,860 ¥ 290,664 ¥ 11,999,584 ¥ 12,186,705 Financial information of the segments for the three months ended December 31, 2021 and 2022 are as follows: Millions of yen Three months ended December 31, 2021 Three months ended December 31, 2022 Segment revenues Segment profits Segment revenues Segment profits Corporate Financial Services and Maintenance Leasing ¥ 107,670 ¥ 15,608 ¥ 110,220 ¥ 20,962 Real Estate 91,743 3,598 97,806 5,537 PE Investment and Concession 88,859 (12,184 ) 61,217 2,808 Environment and Energy 43,269 8,830 57,505 23,558 Insurance 117,104 12,347 94,215 11,003 Banking and Credit 21,922 11,690 21,380 9,653 Aircraft and Ships 11,557 2,472 13,873 6,358 ORIX USA 37,709 20,339 55,329 11,436 ORIX Europe 69,913 27,529 67,817 19,474 Asia and Australia 37,173 15,166 50,285 9,923 Total ¥ 626,919 ¥ 105,395 ¥ 629,647 ¥ 120,712 The accounting policies of the segments are almost the same as those described in Note 2 “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 the 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. The reconciliation of segment totals to consolidated financial statement amounts is as follows: Significant items to be reconciled are segment revenues, segment profits and segment assets. Other items do not have a significant difference between segment amounts and consolidated amounts. Millions of yen Nine months ended Nine months ended Segment revenues: Total revenues for segments ¥ 1,869,486 ¥ 1,990,860 Revenues related to corporate assets 12,998 19,000 Revenues from inter-segment transactions (14,371 ) (15,016 ) Total consolidated revenues ¥ 1,868,113 ¥ 1,994,844 Segment profits: Total profits for segments ¥ 334,899 ¥ 290,664 Corporate profits (losses) (22,719 ) (13,483 ) Net income attributable to the noncontrolling interests and net income attributable to the redeemable noncontrolling interests 4,509 6,292 Total consolidated income before income taxes ¥ 316,689 ¥ 283,473 Millions of yen Three months ended Three months ended Segment revenues: Total revenues for segments ¥ 626,919 ¥ 629,647 Revenues related to corporate assets 4,418 6,348 Revenues from inter-segment transactions (4,758 ) (5,967 ) Total consolidated revenues ¥ 626,579 ¥ 630,028 Segment profits: Total profits for segments ¥ 105,395 ¥ 120,712 Corporate profits (losses) (7,785 ) (3,307 ) Net income attributable to the noncontrolling interests and net income attributable to the redeemable noncontrolling interests (1,710 ) 1,722 Total consolidated income before income taxes ¥ 95,900 ¥ 119,127 Millions of yen March 31, 2022 December 31, 2022 Segment assets: Total assets for segments ¥ 11,999,584 ¥ 12,186,705 Cash and cash equivalents, restricted cash 1,091,812 1,067,018 Allowance for credit losses (69,459 ) (68,815 ) Trade notes, accounts and other receivable 359,949 369,666 Other corporate assets 888,786 999,316 Total consolidated assets ¥ 14,270,672 ¥ 14,553,890 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 for the nine months ended December 31, 2021 and 2022. For the nine months ended December 31, 2021 Millions of yen Nine months ended December 31, 2021 Japan The Americas *1 Other *2 Total Total Revenues ¥ 1,434,244 ¥ 184,614 ¥ 249,255 ¥ 1,868,113 Income before Income Taxes 146,839 84,667 85,183 316,689 For the nine months ended December 31, 2022 Millions of yen Nine months ended December 31, 2022 Japan The Americas *1 Other *2 Total Total Revenues ¥ 1,503,642 ¥ 189,964 ¥ 301,238 ¥ 1,994,844 Income before Income Taxes 136,597 55,273 91,603 283,473 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 for the three months ended December 31, 2021 and 2022. For the three months ended December 31, 2021 Millions of yen Three months ended December 31, 2021 Japan The Americas *1 Other *2 Total Total Revenues ¥ 470,052 ¥ 60,927 ¥ 95,600 ¥ 626,579 Income before Income Taxes 27,914 24,610 43,376 95,900 For the three months ended December 31, 2022 Millions of yen Three months ended December 31, 2022 Japan The Americas *1 Other *2 Total Total Revenues ¥ 438,376 ¥ 80,572 ¥ 111,080 ¥ 630,028 Income before Income Taxes 50,913 30,357 37,857 119,127 *1 Mainly the United States *2 Mainly Asia, Europe, Australasia and Middle East The following information represents disaggregation of revenues for revenues from contracts with customers, by goods and services category and geographical location for the nine months ended December 31, 2021 and 2022. For the nine months ended December 31, 2021 Millions of yen Nine months ended December 31, 2021 Reportable segments Corporate Real Estate PE Environment Insurance Banking and Aircraft and Goods or services category Sales of goods ¥ 7,691 ¥ 2,013 ¥ 233,064 ¥ 2,668 ¥ 0 ¥ 0 ¥ 0 Real estate sales 0 75,077 0 0 0 0 0 Asset management and servicing 243 4,544 16 14 0 228 25 Automobile related services 47,562 0 0 160 0 0 0 Facilities operation 0 23,674 0 0 0 0 0 Environment and energy services 2,220 0 66 102,815 0 0 0 Real estate management and brokerage 0 77,346 0 0 0 0 0 Real estate contract work 0 65,516 0 0 0 0 0 Other 39,670 1,035 20,841 730 1,497 4,458 5,831 Total revenues from contracts with customers 97,386 249,205 253,987 106,387 1,497 4,686 5,856 Geographical location Japan 96,919 249,205 253,987 104,740 1,497 4,686 3,539 The Americas 0 0 0 0 0 0 0 Other 467 0 0 1,647 0 0 2,317 Total revenues from contracts with customers 97,386 249,205 253,987 106,387 1,497 4,686 5,856 Other revenues * 240,559 45,052 27,022 780 350,695 60,333 23,449 Segment revenues/Total revenues ¥ 337,945 ¥ 294,257 ¥ 281,009 ¥ 107,167 ¥ 352,192 ¥ 65,019 ¥ 29,305 Millions of yen Nine months ended December 31, 2021 Reportable segments Corporate revenue and intersegment transactions Total revenues ORIX USA ORIX Europe Asia and Total Goods or services category Sales of goods ¥ 1,706 ¥ 0 ¥ 375 ¥ 247,517 ¥ 1,251 ¥ 248,768 Real estate sales 73 0 0 75,150 0 75,150 Asset management and servicing 13,695 167,185 0 185,950 (45 ) 185,905 Automobile related services 0 0 9,974 57,696 10 57,706 Facilities operation 0 0 0 23,674 572 24,246 Environment and energy services 954 0 0 106,055 (1,488 ) 104,567 Real estate management and brokerage 0 0 0 77,346 (1,943 ) 75,403 Real estate contract work 0 0 0 65,516 (155 ) 65,361 Other 3,008 57 607 77,734 1,936 79,670 Total revenues from contracts with customers 19,436 167,242 10,956 916,638 138 916,776 Geographical location Japan 0 0 0 714,573 218 714,791 The Americas 19,436 59,276 0 78,712 0 78,712 Other 0 107,966 10,956 123,353 (80 ) 123,273 Total revenues from contracts with customers 19,436 167,242 10,956 916,638 138 916,776 Other revenues * 103,261 3,775 97,922 952,848 (1,511 ) 951,337 Segment revenues/Total revenues ¥ 122,697 ¥ 171,017 ¥ 108,878 ¥ 1,869,486 ¥ (1,373 ) ¥ 1,868,113 For the nine months ended December 31, 2022 Millions of yen Nine months ended December 31, 2022 Reportable segments Corporate Real Estate PE Environment Insurance Banking and Aircraft and Goods or services category Sales of goods ¥ 3,909 ¥ 2,260 ¥ 246,164 ¥ 2,964 ¥ 0 ¥ 0 ¥ 0 Real estate sales 0 56,548 0 0 0 0 0 Asset management and servicing 238 6,076 0 145 0 347 51 Automobile related services 47,571 0 0 210 0 0 0 Facilities operation 0 40,257 0 0 0 0 0 Environment and energy services 2,367 34 65 161,573 0 0 0 Real estate management and brokerage 0 75,219 0 0 0 0 0 Real estate contract work 0 66,834 13,230 0 0 0 0 Other 29,166 996 23,344 651 1,948 5,010 8,402 Total revenues from contracts with customers 83,251 248,224 282,803 165,543 1,948 5,357 8,453 Geographical location Japan 83,251 248,224 282,803 148,401 1,948 5,357 2,930 The Americas 0 0 0 0 0 0 0 Other 0 0 0 17,142 0 0 5,523 Total revenues from contracts with customers 83,251 248,224 282,803 165,543 1,948 5,357 8,453 Other revenues * 238,396 40,069 29,287 2,876 358,137 56,967 33,916 Segment revenues/Total revenues ¥ 321,647 ¥ 288,293 ¥ 312,090 ¥ 168,419 ¥ 360,085 ¥ 62,324 ¥ 42,369 Millions of yen Nine months ended December 31, 2022 Reportable segments Corporate revenue and intersegment transactions Total revenues ORIX USA ORIX Europe Asia and Total Goods or services category Sales of goods ¥ 1,926 ¥ 0 ¥ 1,314 ¥ 258,537 ¥ 1,883 ¥ 260,420 Real estate sales 11 0 0 56,559 0 56,559 Asset management and servicing 15,977 160,636 3 183,473 (206 ) 183,267 Automobile related services 0 0 13,874 61,655 2 61,657 Facilities operation 0 0 0 40,257 623 40,880 Environment and energy services 1,184 0 0 165,223 (1,441 ) 163,782 Real estate management and brokerage 0 0 0 75,219 (1,136 ) 74,083 Real estate contract work 0 0 0 80,064 (73 ) 79,991 Other 5,406 95 1,392 76,410 3,075 79,485 Total revenues from contracts with customers 24,504 160,731 16,583 997,397 2,727 1,000,124 Geographical location Japan 0 0 0 772,914 3,746 776,660 The Americas 24,504 56,648 0 81,152 0 81,152 Other 0 104,083 16,583 143,331 (1,019 ) 142,312 Total revenues from contracts with customers 24,504 160,731 16,583 997,397 2,727 1,000,124 Other revenues * 110,757 (3,078 ) 126,136 993,463 1,257 994,720 Segment revenues/Total revenues ¥ 135,261 ¥ 157,653 ¥ 142,719 ¥ 1,990,860 ¥ 3,984 ¥ 1,994,844 The following information represents disaggregation of revenues for revenues from contracts with customers, by goods and services category and geographical location for the three months ended December 31, 2021 and 2022. For the three months ended December 31, 2021 Millions of yen Three months ended December 31, 2021 Reportable segments Corporate Real Estate PE Environment Insurance Banking and Aircraft and Goods or services category Sales of goods ¥ 2,179 ¥ 567 ¥ 71,958 ¥ 980 ¥ 0 ¥ 0 ¥ 0 Real estate sales 0 15,967 0 0 0 0 0 Asset management and servicing 83 1,427 4 14 0 83 10 Automobile related services 16,230 0 0 59 0 0 0 Facilities operation 0 10,670 0 0 0 0 0 Environment and energy services 659 0 22 41,649 0 0 0 Real estate management and brokerage 0 25,661 0 0 0 0 0 Real estate contract work 0 26,145 0 0 0 0 0 Other 13,793 318 7,211 298 495 1,636 2,674 Total revenues from contracts with customers 32,944 80,755 79,195 43,000 495 1,719 2,684 Geographical location Japan 32,944 80,755 79,195 41,353 495 1,719 1,359 The Americas 0 0 0 0 0 0 0 Other 0 0 0 1,647 0 0 1,325 Total revenues from contracts with customers 32,944 80,755 79,195 43,000 495 1,719 2,684 Other revenues * 74,726 10,988 9,664 269 116,609 20,203 8,873 Segment revenues/Total revenues ¥ 107,670 ¥ 91,743 ¥ 88,859 ¥ 43,269 ¥ 117,104 ¥ 21,922 ¥ 11,557 Millions of yen Three months ended December 31, 2021 Reportable segments Corporate revenue and intersegment transactions Total revenues ORIX USA ORIX Europe Asia and Total Goods or services category Sales of goods ¥ 640 ¥ 0 ¥ 347 ¥ 76,671 ¥ 619 ¥ 77,290 Real estate sales 6 0 0 15,973 0 15,973 Asset management and servicing 5,889 67,947 0 75,457 (14 ) 75,443 Automobile related services 0 0 3,603 19,892 16 19,908 Facilities operation 0 0 0 10,670 264 10,934 Environment and energy services 273 0 0 42,603 (474 ) 42,129 Real estate management and brokerage 0 0 0 25,661 (463 ) 25,198 Real estate contract work 0 0 0 26,145 (47 ) 26,098 Other 1,706 19 211 28,361 331 28,692 Total revenues from contracts with customers 8,514 67,966 4,161 321,433 232 321,665 Geographical location Japan 0 0 0 237,820 290 238,110 The Americas 8,514 21,689 0 30,203 0 30,203 Other 0 46,277 4,161 53,410 (58 ) 53,352 Total revenues from contracts with customers 8,514 67,966 4,161 321,433 232 321,665 Other revenues * 29,195 1,947 33,012 305,486 (572 ) 304,914 Segment revenues/Total revenues ¥ 37,709 ¥ 69,913 ¥ 37,173 ¥ 626,919 ¥ (340 ) ¥ 626,579 For the three months ended December 31, 2022 Millions of yen Three months ended December 31, 2022 Reportable segments Corporate Real Estate PE Environment Insurance Banking and Aircraft and Goods or services category Sales of goods ¥ 1,105 ¥ 814 ¥ 29,484 ¥ 1,132 ¥ 0 ¥ 0 ¥ 0 Real estate sales 0 17,484 0 0 0 0 0 Asset management and servicing 77 2,903 0 9 0 124 17 Automobile related services 16,652 0 0 59 0 0 0 Facilities operation 0 15,648 0 0 0 0 0 Environment and energy services 618 10 25 54,478 0 0 0 Real estate management and brokerage 0 25,116 0 0 0 0 0 Real estate contract work 0 25,922 13,230 0 0 0 0 Other 10,396 217 7,813 113 660 1,736 3,342 Total revenues from contracts with customers 28,848 88,114 50,552 55,791 660 1,860 3,359 Geographical location Japan 28,848 88,114 50,552 49,266 660 1,860 1,491 The Americas 0 0 0 0 0 0 0 Other 0 0 0 6,525 0 0 1,868 Total revenues from contracts with customers 28,848 88,114 50,552 55,791 660 1,860 3,359 Other revenues * 81,372 9,692 10,665 1,714 93,555 19,520 10,514 Segment revenues/Total revenues ¥ 110,220 ¥ 97,806 ¥ 61,217 ¥ 57,505 ¥ 94,215 ¥ 21,380 ¥ 13,873 Millions of yen Three months ended December 31, 2022 Reportable segments Corporate revenue and intersegment transactions Total revenues ORIX USA ORIX Europe Asia and Total Goods or services category Sales of goods ¥ 659 ¥ 0 ¥ 656 ¥ 33,850 ¥ 623 ¥ 34,473 Real estate sales 2 0 0 17,486 0 17,486 Asset management and servicing 5,751 62,263 3 71,147 (187 ) 70,960 Automobile related services 0 0 4,939 21,650 1 21,651 Facilities operation 0 0 0 15,648 235 15,883 Environment and energy services 270 0 0 55,401 (488 ) 54,913 Real estate management and brokerage 0 0 0 25,116 (386 ) 24,730 Real estate contract work 0 0 0 39,152 (94 ) 39,058 Other 2,613 54 323 27,267 104 27,371 Total revenues from contracts with customers 9,295 62,317 5,921 306,717 (192 ) 306,525 Geographical location Japan 0 0 0 220,791 489 221,280 The Americas 9,295 19,954 0 29,249 0 29,249 Other 0 42,363 5,921 56,677 (681 ) 55,996 Total revenues from contracts with customers 9,295 62,317 5,921 306,717 (192 ) 306,525 Other revenues * 46,034 5,500 44,364 322,930 573 323,503 Segment revenues/Total revenues ¥ 55,329 ¥ 67,817 ¥ 50,285 ¥ 629,647 ¥ 381 ¥ 630,028 * Other revenues include revenues that are not in the scope of revenue from contracts with customers, such as life insurance premiums and related investment income, operating leases, finance revenues that include interest income, and others. |
Subsequent Events
Subsequent Events | 9 Months Ended |
Dec. 31, 2022 | |
Subsequent Events [Abstract] | |
Subsequent Events | 25. Subsequent Events (1) On November 11, 2022, in an effort to expand the Group’s network in the healthcare business, the Company executed a share purchase agreement with Mr. Yoshiaki Yoshida, a major shareholder of DHC Corporation (hereinafter, “DHC”), and reached a basic agreement to acquire the shares of DHC. The Company acquired 91.1% of the total number of issued shares of DHC. As a result, DHC became a consolidated subsidiary of the Company on January 31, 2023. The Company aims to acquire all issued shares of DHC, with the total acquisition consideration expected to be approximately ¥300 billion in cash. As of February 10, 2023, the accounting for the acquisition was not yet complete. (2) The Company cancelled its own shares pursuant to the share cancellation policy approved at the Board of Directors meeting held on October 28, 2019. The details of the cancellation of the Company’s own shares subsequent to the balance sheet date are as follows: • Class of shares cancelled Common shares • Number of shares cancelled 23,427,745 shares • Cancellation date January 20, 2023. |
Significant Accounting and Re_2
Significant Accounting and Reporting Policies (Policies) | 9 Months Ended |
Dec. 31, 2022 | |
Accounting Policies [Abstract] | |
Principles of consolidation | (a) Principles of consolidation The consolidated financial statements include the accounts of the Company and all of its subsidiaries. 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. 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 | (b) Use of estimates The preparation of consolidated financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The Company has identified ten areas where it believes assumptions and estimates are particularly critical to the financial statements. The Company makes estimates and assumptions to the selection of valuation techniques and determination of assumptions used in fair value measurements, the determination and periodic reassessment of the unguaranteed residual value for finance leases and operating leases, the determination and reassessment of insurance policy liabilities and deferred policy acquisition costs, the determination of the allowance for credit losses (including the allowance for off-balance In addition, we carefully considered the future outlook regarding the spread of the COVID-19 COVID-19 |
Foreign currencies translation | (c) Foreign currencies translation The Company and its subsidiaries maintain their accounting records in their functional currency. Transactions in foreign currencies are recorded in the entity’s functional currency based on the prevailing exchange rates on the transaction date. Monetary assets and liabilities in foreign currencies are recorded in the entity’s functional currency based on the prevailing exchange rates at the end of each fiscal year. The financial statements of overseas subsidiaries and affiliates are translated into Japanese yen by applying the exchange rates in effect at the end of each fiscal year to all assets and liabilities. Income and expenses are translated at the average rates of exchange prevailing during the fiscal year. The currencies in which the operations of the overseas subsidiaries and affiliates are conducted are regarded as the functional currencies of these companies. Foreign currency translation adjustments reflected in other comprehensive income (loss), net of applicable income taxes, arise from the translation of foreign currency financial statements into Japanese yen. |
Revenue recognition | (d) Revenue recognition The Company and its subsidiaries recognize revenues from only contracts with customers, such as sales of goods and real estate, and services income, 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 repayment of 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, which was ¥819,839 million and ¥852,709 million as of March 31, 2022 and December 31, 2022, respectively. In addition, operating lease assets are depreciated over their estimated useful lives mainly on a straight-line basis. 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 | (e) Insurance and reinsurance transactions Premium income from life insurance policies, net of premiums on reinsurance ceded, is recognized as earned premiums when due. Life insurance benefits are recorded as expenses when they are incurred. Policy liabilities and policy account balances for future policy benefits are measured using the net level premium method, based on actuarial estimates of the amount of future policyholder benefits. The policies are characterized as long-duration policies and mainly consist of whole life, term life, endowments, medical insurance and individual annuity insurance contracts. For policies other than individual annuity insurance contracts, computation of policy liabilities necessarily includes assumptions about mortality, morbidity, lapse rates, future yields on related investments and other factors applicable at the time the policies are written. A certain subsidiary continually evaluates the potential for changes in the estimates and assumptions applied in determining policy liabilities, both positive and negative, and uses the results of these evaluations both to adjust recorded liabilities and to adjust underwriting criteria and product offerings. The insurance contracts sold by the subsidiary include variable annuity, variable life and fixed annuity insurance contracts. The subsidiary manages investment assets on behalf of variable annuity and variable life policyholders, which consist of equity securities and are included in investment in securities in the consolidated balance sheets. These investment assets are measured at fair value with realized and unrealized gains or losses recognized in life insurance premiums and related investment income in the consolidated statements of income. The subsidiary elected the fair value option for the entire variable annuity and variable life insurance contracts with changes in the fair value recognized in life insurance costs. The subsidiary provides minimum guarantees to variable annuity and variable life policyholders under which it is exposed to the risk of compensating losses incurred by the policyholders to the extent contractually required. To mitigate the risk, a portion of the minimum guarantee risk related to variable annuity and variable life insurance contracts is ceded to reinsurance companies and the remaining risk is economically hedged by entering into derivative contracts. The reinsurance contracts do not relieve the subsidiary from the obligation as the primary obligor to compensate certain losses incurred by the policyholders, and the default of the reinsurance companies may impose additional losses on the subsidiary. Certain subsidiaries have elected the fair value option for certain reinsurance contracts relating to variable annuity and variable life insurance contracts, which are included in other assets in the consolidated balance sheets. Policy liabilities and policy account balances for fixed annuity insurance contracts are measured based on the single-premiums plus interest based on expected rate and fair value adjustments relating to the acquisition of the subsidiary, less withdrawals, expenses and other charges. The credited interest is recorded in life insurance costs in the consolidated statements of income. Certain costs related directly to the successful acquisition of new or renewal insurance contracts, or deferred policy acquisition costs are deferred and amortized over the respective policy periods in proportion to anticipated premium revenue. These deferred policy acquisition costs consist primarily of agent commissions, except for recurring policy maintenance costs and certain variable costs and expenses for underwriting policies. |
Allowance for credit losses | (f) Allowance for credit losses 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 | (g) Impairment of long-lived assets The Company and its subsidiaries perform a recoverability test for long-lived assets to be held and used in operations, including tangible assets and intangible assets being 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 | (h) Investment in securities Equity securities are generally reported at fair value with unrealized gains and losses included in income. Equity securities without readily determinable fair values are recorded at 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 Held-to-maturity Held-to-maturity |
Income taxes | (i) Income taxes The Company, in general, determines its provision for income taxes for quarterly periods by applying the current estimate of the effective tax rate for the full fiscal year to the actual year-to-date At the fiscal year end, income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, and for tax loss carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the year in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rate is recognized in income in the period that includes the enactment date. The Company and its subsidiaries release to earnings stranded income tax effects in accumulated other comprehensive income (loss) resulting from changes in tax laws or rates or changes in judgment about realization of a valuation allowance on a specific identification basis when the individual items are completely sold or terminated. A valuation allowance is recognized if, based on the weight of available evidence, it is “more likely than not” that some portion or all of the deferred tax asset will not be realized. The effective income tax rates for the nine months ended December 31, 2021 and 2022 were approximately 31.9% and 23.6%, respectively. These rates are approximately 34.3% and 23.6% for the three months ended December 31, 2021 and 2022, respectively. For the nine non-taxable 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. |
Securitized assets | (j) Securitized assets The Company and its subsidiaries have securitized and sold to investors various financial assets such as lease receivables and loan receivables. In the securitization process, the assets to be securitized are sold to SPEs that issue asset-backed beneficial interests and securities to the investors. SPEs used in securitization transactions are consolidated if the Company and its subsidiaries are the primary beneficiary of the SPEs, and the transfers of the financial assets to those consolidated SPEs are not accounted for as sales. Assets held by consolidated SPEs continue to be accounted for as lease receivables or loan receivables, as they were before the transfer, and asset-backed beneficial interests and securities issued to the investors are accounted for as debt. When the Company and its subsidiaries have transferred financial assets to a transferee that is not subject to consolidation, the Company and its subsidiaries account for the transfer as a sale if control over the transferred assets is surrendered. The Company and certain subsidiaries originate and sell loans into the secondary market, while retaining the obligation to service those loans. In addition, a certain subsidiary undertakes obligations to service loans originated by others. The subsidiary recognizes servicing assets if it expects the benefit of servicing to more than adequately compensate it for performing the servicing or recognizes servicing liabilities if it expects the benefit of servicing to less than adequately compensate it. These servicing assets and liabilities are initially recognized at fair value and subsequently accounted for using the amortization method whereby the assets and liabilities are amortized in proportion to and over the period of estimated net servicing income or net servicing loss. On a quarterly basis, servicing assets and liabilities are evaluated for impairment or increased obligations. The fair value of servicing assets and liabilities is estimated using an internal valuation model, or by obtaining an opinion of value from an independent third-party vendor. Both methods are based on calculating the present value of estimated future net servicing cash flows, taking into consideration discount rates, prepayments and servicing costs. The internal valuation model is validated at least semiannually through third-party valuations. |
Derivative financial instruments | (k) Derivative financial instruments The Company and its subsidiaries recognize all derivatives on the consolidated balance sheets at fair value. The accounting treatment of subsequent changes in the fair value depends on their use, and whether they qualify as effective “hedges” for accounting purposes. Derivatives for the purpose of trading or 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 | (l) Pension plans The Company and certain subsidiaries have contributory and non-contributory The Company and its subsidiaries also recognize the funded status of pension plans, measured as the difference between the fair value of plan assets and the benefit obligation, on the consolidated balance sheets. Changes in that funded status are recognized in the year in which the changes occur through other comprehensive income (loss), net of applicable income taxes. |
Stock-based compensation | (m) Stock-based compensation In principle, the Company and its subsidiaries measure stock-based compensation expense as consideration for services provided by employees based on the fair value on the grant date. The costs are recognized over the requisite service period. |
Cash and cash equivalents | (n) 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. |
Installment Loans | (o) Installment loans Certain loans, for which the Company and its subsidiaries have the intent and ability to sell to outside parties in the foreseeable future, are considered held for sale and are carried at the lower of cost or 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, 2022 and December 31, 2022 were ¥155,680 million and ¥186,472 million, respectively. There were ¥151,601 million and ¥182,700 million of loans held for sale as of March 31, 2022 and December 31, 2022, respectively, measured at fair value by electing the fair value option. |
Property under facility operations | (p) Property under facility operations Property under facility operations consist primarily of operating facilities (including hotels and training facilities) and environmental assets (including mega solar facilities, wind power plants and coal-biomass co-fired |
Inventories | (q) 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, 2022 and December 31, 2022, residential condominiums under development were ¥62,414 million and ¥82,743 million, respectively, and completed residential condominiums and merchandise for sale were ¥77,149 million and ¥63,167 million, respectively. The Company and its subsidiaries recorded ¥10,194 million and ¥508 million of write-downs principally on completed residential condominiums and merchandise for sale for the nine months ended December 31, 2021 and 2022, respectively, primarily resulting from a decrease in expected sales price. The amount of such write-downs recorded for the three months ended December 31, 2021 were ¥ 280 million. There were no |
Office facilities | (r) Office facilities Office facilities are stated at cost less accumulated depreciation. Depreciation is calculated on a declining-balance basis or straight-line basis over the estimated useful lives of the assets. Accumulated depreciation was ¥73,063 million and ¥75,578 million as of March 31, 2022 and December 31, 2022, respectively. |
Right-of-use assets | (s) Right-of-use The Company and its subsidiaries record the ROU assets recognized from the lessee’s lease transaction as investment in operating leases, property under facility operations and office facilities. Lease liabilities are included in other liabilities. ROU assets are 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 | (t) 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 | (u) 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 | (v) 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 its 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 its subsidiaries do not perform the quantitative goodwill impairment test. However, if the Company and/or its subsidiaries conclude otherwise or determine to bypass the qualitative assessment, the Company and/or its 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 its subsidiaries conclude that it is not more likely than not that the indefinite-lived intangible asset is impaired, then the Company and/or its subsidiaries do not perform the quantitative impairment test. However, if the Company and/or its subsidiaries conclude otherwise or determine to bypass the qualitative assessment, the Company and/or its subsidiaries calculate the fair value of the indefinite-lived intangible asset and perform the quantitative impairment test. If the carrying amount of the indefinite-lived intangible asset exceeds its fair value, an impairment loss is recognized in an amount equal to that excess. Intangible assets with finite lives are amortized over their useful lives and tested for impairment. The Company and its subsidiaries perform a recoverability test for the intangible assets whenever events or changes in circumstances indicate that the assets might be impaired. The intangible assets are considered not recoverable when the undiscounted future cash flows estimated to be generated by those assets are less than the carrying amount of those assets, and the net carrying amount of assets not recoverable is reduced to fair value if lower than the carrying amount. The amount of goodwill was ¥488,856 million and ¥516,252 million as of March 31, 2022 and December 31, 2022, respectively. The amount of other intangible assets was ¥403,621 million and ¥418,064 million as of March 31, 2022 and December 31, 2022, respectively. |
Other Liabilities | (w) 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 | (x) 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 | (y) Redeemable noncontrolling interests Noncontrolling interests in a certain subsidiary are redeemable interests which are subject to call and put rights upon certain equity holder 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 | (z) New accounting pronouncements In August 2018, Accounting Standards Update 2018-12 In March 2020, Accounting Standards Update 2020-04 In July 2021, Accounting Standards Update 2021-05 In October 2021, Accounting Standards Update 2021-08 In November 2021, Accounting Standards Update 2021-10 In March 2022, Accounting Standards Update 2022-02 326-20 In June 2022, Accounting Standards Update 2022-03 In September 2022, Accounting Standards Update 2022-04 405-50 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 9 Months Ended |
Dec. 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, 2022 and December 31, 2022: 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 December 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 ¥ 182,700 ¥ 0 ¥ 6,645 ¥ 176,055 Trading debt securities 2,968 0 2,968 0 Available-for-sale 2,107,359 5,087 1,899,591 202,681 Japanese and foreign government bond securities*2 746,085 3,800 742,285 0 Japanese prefectural and foreign municipal bond securities 354,010 0 350,700 3,310 Corporate debt securities*3 772,155 1,287 764,687 6,181 CMBS and RMBS in the Americas 40,942 0 40,942 0 Other asset-backed securities and debt securities 194,167 0 977 193,190 Equity securities*4*5 355,370 100,108 127,944 127,318 Derivative assets: 119,793 1,156 111,607 7,030 Interest rate swap agreements 25,840 0 25,840 0 Options held/written and other 39,610 0 32,580 7,030 Futures, foreign exchange contracts 53,782 1,156 52,626 0 Foreign currency swap agreements 561 0 561 0 Netting*6 (16,464 ) 0 0 0 Net derivative assets 103,329 0 0 0 Other assets: 5,138 0 0 5,138 Reinsurance recoverables*7 5,138 0 0 5,138 Total ¥ 2,773,328 ¥ 106,351 ¥ 2,148,755 ¥ 518,222 Liabilities: Derivative liabilities: ¥ 59,775 ¥ 380 ¥ 39,492 ¥ 19,903 Interest rate swap agreements 1,389 0 1,389 0 Options held/written and other 36,858 0 16,955 19,903 Futures, foreign exchange contracts 17,454 380 17,074 0 Foreign currency swap agreements 4,070 0 4,070 0 Credit derivatives written 4 0 4 0 Netting*6 (16,464 ) 0 0 0 Net derivative Liabilities 43,311 0 0 0 Policy Liabilities and Policy Account Balances: 162,958 0 0 162,958 Variable annuity and variable life insurance contracts*8 162,958 0 0 162,958 Total ¥ 222,733 ¥ 380 ¥ 39,492 ¥ 182,861 *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 ¥138 million and a loss of ¥3,664 million from the change in the fair value of the loans for the nine months ended December 31, 2021 and 2022, respectively. Included in “Other (income) and expense” in the consolidated statements of income were losses of ¥931 million and ¥156 million from the change in the fair value of the loans for the three months ended December 31, 2021 and 2022, respectively. No gains or losses were recognized in earnings during the nine months ended December 31, 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, 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. The amounts of aggregate unpaid principal balance and aggregate fair value of the loans held for sale as of December 31, 2022, were ¥186,546 million and ¥182,700 million, respectively, and the amount of the aggregate fair value was less than the amount of aggregate unpaid principal balance by ¥3,846 million. As of March 31, 2022 and December 31, 2022, there were no loans that are 90 days or more past due or, in non-accrual *2 A certain subsidiary elected the fair value option for investments in foreign government bond securities included in available-for-sale *3 A certain subsidiary elected the fair value option for investments in foreign corporate debt securities included in available-for-sale *4 Certain subsidiaries elected the fair value option for certain investments in investment funds, 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 ¥786 million and ¥499 million from the change in the fair value of those investments for the nine months ended December 31, 2021 and 2022, respectively. Included in “Gains on investment securities and dividends” and “Life insurance premiums and related investment income” in the consolidated statements of income were a gain of ¥201 million and a loss of ¥47 million from the change in the fair value of those investments for the three months ended December 31, 2021 and 2022, respectively. The amounts of aggregate fair value elected the fair value option were ¥11,709 million and ¥15,002 million as of March 31, 2022 and December 31, 2022, respectively. *5 The amounts of investment funds measured at net asset value per share which are not included in the above tables were ¥25,999 million and ¥46,085 million as of March 31, 2022 and December 31, 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 ¥5,214 million and ¥5,138 million as of March 31, 2022 and December 31, 2022, respectively. For the effect of changes in the fair value of those reinsurance contracts on earnings during the nine and three months ended December 31, 2021 and 2022, see Note 17 “Life Insurance Operations.” *8 Certain subsidiaries elected the fair value option for the entire variable annuity and variable life insurance contracts held. 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 ¥198,905 million and ¥162,958 million as of March 31, 2022 and December 31, 2022, respectively. For the effect of changes in the fair value of the variable annuity and variable life insurance contracts on earnings during the nine and three months ended December 31, 2021 and 2022, see Note 17 “Life Insurance Operations.” |
Reconciliation of Financial Assets and Liabilities (Net) Measured at Fair Value on Recurring Basis Using Significant Unobservable Input | The following tables present the reconciliation of financial assets and liabilities (net) measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the nine months ended December 31, 2021 and 2022: Nine months ended December 31, 2021 Millions of yen Balance at April 1, Gains or losses (realized/unrealized) Purchases *3 Sales Settlements *4 Transfers in and/ or out of Level 3 (net) Balance at December 31, 2021 Change in unrealized gains or losses included in earnings for assets and liabilities still held at December 31, 2021 *1 Change in unrealized gains or losses included in other assets and liabilities still held at December 31, 2021 *2 Included in earnings *1 Included in other comprehensive income *2 Total Available-for-sale debt ¥ 133,457 ¥ 5,248 ¥ 3,654 ¥ 8,902 ¥ 51,327 ¥ (7,485 ) ¥ (48,016 ) ¥ 0 ¥ 138,185 ¥ 711 ¥ 3,777 Japanese prefectural and foreign municipal bond securities 2,761 0 108 108 0 0 0 0 2,869 0 108 Corporate debt securities 1,021 0 (0 ) (0 ) 0 0 (282 ) 0 739 0 (0 ) Other asset-backed 129,675 5,248 3,546 8,794 51,327 (7,485 ) (47,734 ) 0 134,577 711 3,669 Equity securities 91,410 12,322 3,674 15,996 22,891 (26,795 ) (689 ) (610 ) 102,203 1,012 3,638 Investment funds, and others 91,410 12,322 3,674 15,996 22,891 (26,795 ) (689 ) (610 ) 102,203 1,012 3,638 Derivative assets and liabilities (net) 13,790 2,445 630 3,075 0 0 0 0 16,865 2,445 630 Options held/written and other 13,790 2,445 630 3,075 0 0 0 0 16,865 2,445 630 Other asset 6,297 (1,868 ) 0 (1,868 ) 1,464 0 (624 ) 0 5,269 (1,868 ) 0 Reinsurance recoverables *5 6,297 (1,868 ) 0 (1,868 ) 1,464 0 (624 ) 0 5,269 (1,868 ) 0 Policy Liabilities and Policy Account Balances 266,422 (7,872 ) (75 ) (7,947 ) 0 0 (58,161 ) 0 216,208 (7,872 ) (75 ) Variable annuity and variable life insurance contracts *6 266,422 (7,872 ) (75 ) (7,947 ) 0 0 (58,161 ) 0 216,208 (7,872 ) (75 ) Nine months ended December 31, 2022 Millions of yen Balance at April 1, Gains or losses (realized/unrealized) Purchases *3 Sales Settlements *4 Transfers in and/ or out of Level 3 (net) Balance at December 31, 2022 Change in unrealized gains or losses included in earnings for assets and liabilities still held at December 31, 2022 *1 Change in unrealized gains or losses included in other assets and liabilities still held at December 31, 2022 *2 Included in earnings *1 Included in other comprehensive income *2 Total Loans held for sale ¥ 0 ¥ 0 ¥ 0 ¥ 0 ¥ 0 ¥ 0 ¥ 0 ¥ 176,055 ¥ 176,055 ¥ 0 ¥ 0 Available-for-sale debt ¥ 141,060 ¥ 2,999 ¥ 67 ¥ 3,066 ¥ 72,735 ¥ (5,678 ) ¥ (8,502 ) ¥ 0 ¥ 202,681 ¥ 2,793 ¥ 431 Japanese prefectural and foreign municipal bond securities 3,053 0 257 257 0 0 0 0 3,310 0 257 Corporate debt securities 697 (22 ) (0 ) (22 ) 5,922 0 (416 ) 0 6,181 (55 ) 1 Other asset-backed 137,310 3,021 (190 ) 2,831 66,813 (5,678 ) (8,086 ) 0 193,190 2,848 173 Equity securities 112,972 10,652 8,203 18,855 4,696 (7,211 ) (1,994 ) 0 127,318 9,897 8,201 Investment funds, and others 112,972 10,652 8,203 18,855 4,696 (7,211 ) (1,994 ) 0 127,318 9,897 8,201 Derivative assets and liabilities (net) (3,772 ) (7,964 ) (1,137 ) (9,101 ) 0 0 0 0 (12,873 ) (7,964 ) (1,137 ) Options held/written and other (3,772 ) (7,964 ) (1,137 ) (9,101 ) 0 0 0 0 (12,873 ) (7,964 ) (1,137 ) Other asset 5,214 (655 ) 0 (655 ) 901 0 (322 ) 0 5,138 (655 ) 0 Reinsurance recoverables *5 5,214 (655 ) 0 (655 ) 901 0 (322 ) 0 5,138 (655 ) 0 Policy Liabilities and Policy Account Balances 198,905 12,752 16 12,768 0 0 (23,179 ) 0 162,958 12,752 16 Variable annuity and variable life insurance contracts *6 198,905 12,752 16 12,768 0 0 (23,179 ) 0 162,958 12,752 16 *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. Three months ended December 31, 2021 Millions of yen Balance at September 30, Gains or losses (realized/unrealized) Purchases *3 Sales Settlements *4 Transfers in and/ or out of Level 3 (net) Balance at December 31, Change in unrealized gains or losses included in earnings for assets and liabilities still held at December 31, Change in unrealized gains or losses included in other assets and liabilities still held at December 31, Included in earnings *1 Included in other comprehensive income *2 Total Available-for-sale debt ¥ 137,236 ¥ 967 ¥ 1,827 ¥ 2,794 ¥ 29,057 ¥ 0 ¥ (30,902 ) ¥ 0 ¥ 138,185 ¥ 390 ¥ 1,873 Japanese prefectural and foreign municipal bond securities 2,791 0 78 78 0 0 0 0 2,869 0 78 Corporate debt securities 809 0 0 0 0 0 (70 ) 0 739 0 (0 ) Other asset-backed 133,636 967 1,749 2,716 29,057 0 (30,832 ) 0 134,577 390 1,795 Equity securities 92,008 (413 ) 2,656 2,243 9,200 (420 ) (218 ) (610 ) 102,203 (516 ) 2,630 Investment funds, and others 92,008 (413 ) 2,656 2,243 9,200 (420 ) (218 ) (610 ) 102,203 (516 ) 2,630 Derivative assets and liabilities (net) 15,605 827 433 1,260 0 0 0 0 16,865 827 433 Options held/written and other 15,605 827 433 1,260 0 0 0 0 16,865 827 433 Other asset 5,564 (591 ) 0 (591 ) 414 0 (118 ) 0 5,269 (591 ) 0 Reinsurance recoverables*5 5,564 (591 ) 0 (591 ) 414 0 (118 ) 0 5,269 (591 ) 0 Policy Liabilities and Policy Account Balances 226,221 (1,141 ) 9 (1,132 ) 0 0 (11,145 ) 0 216,208 (1,141 ) 9 Variable annuity and variable life insurance contracts*6 226,221 (1,141 ) 9 (1,132 ) 0 0 (11,145 ) 0 216,208 (1,141 ) 9 Three months ended December 31, 2022 Millions of yen Balance at September 30, Gains or losses (realized/unrealized) Purchases *3 Sales Settlements *4 Transfers in and/ or out of Level 3 (net) Balance at Change in unrealized gains or losses included in earnings for assets and liabilities still held at December 31, Change in unrealized gains or losses included in other assets and liabilities still held at December 31, Included in earnings *1 Included in other comprehensive income *2 Total Loans held for sale ¥ 0 ¥ 0 ¥ 0 ¥ 0 ¥ 0 ¥ 0 ¥ 0 ¥ 176,055 ¥ 176,055 ¥ 0 ¥ 0 Available-for-sale ¥ 195,005 ¥ (7,012 ) ¥ (5,644 ) ¥ (12,656 ) ¥ 25,374 ¥ 0 ¥ (5,042 ) ¥ 0 ¥ 202,681 ¥ (7,202 ) ¥ (5,659 ) Japanese prefectural and foreign municipal bond securities 3,612 0 (302 ) (302 ) 0 0 0 0 3,310 0 (302 ) Corporate debt securities 350 (22 ) 1 (21 ) 5,922 0 (70 ) 0 6,181 (55 ) 1 Other asset-backed 191,043 (6,990 ) (5,343 ) (12,333 ) 19,452 0 (4,972 ) 0 193,190 (7,147 ) (5,358 ) Equity securities 130,372 6,778 (11,489 ) (4,711 ) 2,196 (67 ) (472 ) 0 127,318 6,742 (11,487 ) Investment funds, and others 130,372 6,778 (11,489 ) (4,711 ) 2,196 (67 ) (472 ) 0 127,318 6,742 (11,487 ) Derivative assets and liabilities (net) (24,839 ) 10,522 1,444 11,966 0 0 0 0 (12,873 ) 10,522 1,444 Options held/written and other (24,839 ) 10,522 1,444 11,966 0 0 0 0 (12,873 ) 10,522 1,444 Other asset 5,702 (776 ) 0 (776 ) 269 0 (57 ) 0 5,138 (776 ) 0 Reinsurance recoverables *5 5,702 (776 ) 0 (776 ) 269 0 (57 ) 0 5,138 (776 ) 0 Policy Liabilities and Policy Account Balances 170,177 1,073 (67 ) 1,006 0 0 (6,213 ) 0 162,958 1,073 (67 ) Variable annuity and variable life insurance contracts *6 170,177 1,073 (67 ) 1,006 0 0 (6,213 ) 0 162,958 1,073 (67 ) *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 year ended March 31, 2022 and the nine months ended December 31, 2022. These assets are measured at fair value on a nonrecurring basis mainly to recognize impairment: Year ended 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 ¥ 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 Nine months ended December 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 ¥ 277 ¥ 0 ¥ 277 ¥ 0 Real estate collateral-dependent loans (net of allowance for credit losses) 5,994 0 0 5,994 Investment in operating leases, property under facility operations and other assets 3,931 0 31 3,900 Certain equity securities 6,125 0 6,125 0 ¥ 16,327 ¥ 0 ¥ 6,433 ¥ 9,894 |
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, 2022 and December 31, 2022. March 31, 2022 Millions of yen Fair value Valuation technique(s) Significant unobservable inputs Range (Weighted average) Assets: Available-for-sale Japanese prefectural and foreign municipal bond securities ¥ 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 contract s 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 December 31, 2022 Millions of yen Fair value Valuation technique(s) Significant unobservable inputs Range (Weighted average) Assets: Loans held for sale ¥ 176,055 Discounted cash flows Discount rate 9.0% – 10.0% (9.3%) Available-for-sale Japanese prefectural and foreign municipal 3,310 Appraisals/Broker quotes — — Corporate debt securitie s 314 Discounted cash flows Discount rate 0.4 % – 4.3% (0.8%) 5,867 Appraisals/Broker quotes — — Other asset-backed securities and debt 24,635 Discounted cash flows Discount rate 0.3% – 51.2% (10.2%) Probability of default 1.9% (1.9%) 168,555 Appraisals/Broker quotes — — Equity securities: Investment funds, and others 108,768 Discounted cash flows WACC 11.9% – 26.4% (17.3%) EV/Terminal EBITDA multiple 7.5x-12.0x (9.8x) Market multiples EV/Last twelve months EBITDA multiple 5.1x-8.8x (7.8x) EV/Forward EBITDA multiple 4.9x-8.6x (7.3x) EV/Precedent transaction last twelve months EBITDA multiple 7.5x-14.5x (10.1x) 18,550 Appraisals/Broker quotes — — Derivative assets: Options held/written and other 7,030 Discounted cash flows Discount rate 12.0% – 32.0% (14.4%) Other assets: Reinsurance recoverables 5,138 Discounted cash flows Discount rate (0.6)% – 2.1% (0.5%) Mortality rate 0.0% – 100.0% (2.6%) Lapse rate 1.5% – 14.0% (5.0%) Annuitization rate (guaranteed minimum annuity benefit) 0.0% – 100.0% (100.0%) Total ¥ 518,222 Liabilities: Derivative liabilities: Options held/written and other ¥ 19,875 Discounted cash flows Discount rate 12.0% – 32.0% (14.4%) 28 Appraisals/Broker quotes — — Policy liabilities and Policy Account Balances: Variable annuity and variable life insurance 162,958 Discounted cash flows Discount rate (0.6)% – 2.1% (0.5%) Mortality rate 0.0% – 100.0% (2.1%) Lapse rate 1.5% – 30.0% (5.9%) Annuitization rate (guaranteed minimum annuity benefit) 0.0% – 100.0% (69.6%) Total ¥ 182,861 |
Information about Valuation Techniques and Significant Unobservable Inputs Used in Valuation of Level Three Assets Measured at Fair Value on Nonrecurring Basis | The following tables provide information about the valuation techniques and significant unobservable inputs used in the valuation of Level 3 assets measured at fair value on a nonrecurring basis during year ended March 31, 2022 and the nine months ended December 31, 2022. Year ended March 31, 2022 Millions of yen Fair value Valuation technique(s) Significant unobservable inputs Range (Weighted average) 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 Nine months ended December 31, 2022 Millions of yen Fair value Valuation technique(s) Significant unobservable inputs Range (Weighted average) Assets: Real estate collateral-dependent loans (net of allowance for credit losses) ¥ 1,433 Direct capitalization Capitalization rate 4.7% – 6.9% (5.9%) 4,561 Appraisals — — Investment in operating leases, property under facility operations and other assets 3,240 Discounted cash flows Discount rate 0.5% – (4.9%) 660 Appraisals — — ¥ 9,894 |
Revenues from Contracts with _2
Revenues from Contracts with Customers (Tables) | 9 Months Ended |
Dec. 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 for the nine and three months ended December 31, 2021 and 2022 are as follows; Millions of yen Millions of yen Nine months ended December 31, 2021 Nine months ended December 31, 2022 Revenues from contracts with customers ¥ 916,776 ¥ 1,000,124 Other revenues * 951,337 994,720 Total revenues ¥ 1,868,113 ¥ 1,994,844 Millions of yen Millions of yen Three months ended December 31, 2021 Three months ended December 31, 2022 Revenues from contracts with customers ¥ 321,665 ¥ 306,525 Other revenues * 304,914 323,503 Total revenues ¥ 626,579 ¥ 630,028 * Other revenues are not considered to be within the scope of revenue from contracts with customers, such as life insurance premiums and related investment income, operating leases, finance revenues that include interest income, and others. |
Summary of Balances from Contracts with Customers | The following table provides information about balances from contracts with customers as of March 31, 2022 and December 31, 2022. Millions of yen March 31, 2022 December 31, 2022 Trade Notes, Accounts and Other Receivable ¥ 174,667 ¥ 176,841 Contract assets (Included in Other Assets) 13,802 19,998 Contract liabilities (Included in Other Liabilities) 32,978 30,145 |
Leases (Tables)
Leases (Tables) | 9 Months Ended |
Dec. 31, 2022 | |
Leases [Abstract] | |
Lease Income | Lease income for the nine and three months ended December 31, 2021 and 2022 are as follows: Millions of yen Nine months ended December 31, 2021 Nine months ended December 31, 2022 Lease income—net investment in leases Interest income ¥ 54,536 ¥ 60,219 Other 1,848 1,868 Lease income—operating leases * 340,968 368,760 Total lease income ¥ 397,352 ¥ 430,847 * Gains from the disposition of real estate under operating leases included in operating lease revenues were ¥17,545 million and ¥13,083 million, and gains from the disposition of operating lease assets other than real estate included in operating lease revenues were ¥17,405 million and ¥26,070 million, for the nine months ended December 31, 2021 and 2022, respectively. Millions of yen Three months ended December 31, 2021 Three months ended December 31, 2022 Lease income—net investment in leases Interest income ¥ 18,574 ¥ 20,283 Other 850 721 Lease income—operating leases * 113,035 119,616 Total lease income ¥ 132,459 ¥ 140,620 * Gains from the disposition of real estate under operating leases included in operating lease revenues were ¥2,105 million and ¥596 million, and gains from the disposition of operating lease assets other than real estate included in operating lease revenues were ¥6,607 million and ¥6,980 million, for the three months ended December 31, 2021 and 2022, respectively. |
Credit Quality of Financial A_2
Credit Quality of Financial Assets and the Allowance for Credit Losses (Tables) | 9 Months Ended |
Dec. 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 as of March 31, 2022, and for the nine and three months ended December 31, 2021 and 2022: Nine months ended December 31, 2021 Millions of yen Beginning Provision Allowance during the Charge-offs *4 Recoveries Other *5 Ending Collective Individual Allowance for credit losses : Installment loans to consumer borrowers: Real estate loans Japan ¥ 5,922 ¥ 104 ¥ 0 ¥ (110 ) ¥ 18 ¥ (1 ) ¥ 5,933 ¥ 5,409 ¥ 524 Overseas 470 (26 ) 0 0 3 (3 ) 444 444 0 Card loans Japan 12,984 61 0 (702 ) 3 1 12,347 11,657 690 Other Japan 8,359 3,972 0 (3,276 ) 5 1 9,061 6,394 2,667 Overseas 1,275 200 0 (528 ) 0 72 1,019 883 136 Installment loans to corporate borrowers: Non-recourse Japan 32 24 0 0 0 (1 ) 55 55 0 The Americas 3,450 (937 ) 0 0 0 104 2,617 2,376 241 Real estate companies Japan 901 62 0 (3 ) 22 (1 ) 981 737 244 Overseas 1,539 (554 ) 0 0 1 31 1,017 1,017 0 Commercial, industrial companies Japan 1,938 (112 ) 0 (169 ) 44 1 1,702 544 1,158 Overseas 18,763 2,882 0 (1,948 ) 146 691 20,534 13,782 6,752 Purchased loans *1 1,835 (221 ) 1,869 (1,950 ) 110 7 1,650 629 1,021 Net investment in leases: 16,522 901 0 (1,623 ) 13 380 16,193 12,810 3,383 Subtotal 73,990 6,356 1,869 (10,309 ) 365 1,282 73,553 56,737 16,816 Other financial assets measured at amortized cost *2 6,005 2,737 0 (613 ) 17 72 8,218 618 7,600 Total ¥ 79,995 ¥ 9,093 ¥ 1,869 ¥ (10,922 ) ¥ 382 ¥ 1,354 ¥ 81,771 ¥ 57,355 ¥ 24,416 Three months ended December 31, 2021 Millions of yen Beginning Provision Allowance during the Charge-offs *4 Recoveries Other *5 Ending Collective Individual Allowance for credit losses : Installment loans to consumer borrowers: Real estate loans Japan ¥ 5,922 ¥ 41 ¥ 0 ¥ (36 ) ¥ 6 ¥ 0 ¥ 5,933 ¥ 5,409 ¥ 524 Overseas 423 9 0 0 0 12 444 444 0 Card loans Japan 12,423 183 0 (259 ) 0 0 12,347 11,657 690 Other Japan 8,944 1,297 0 (1,182 ) 1 1 9,061 6,394 2,667 Overseas 1,097 (5 ) 0 (114 ) 0 41 1,019 883 136 Installment loans to corporate borrowers: Non-recourse Japan 45 10 0 0 0 0 55 55 0 The Americas 2,928 (378 ) 0 0 0 67 2,617 2,376 241 Real estate companies Japan 996 (22 ) 0 0 8 (1 ) 981 737 244 Overseas 1,109 (116 ) 0 0 1 23 1,017 1,017 0 Commercial, industrial companies Japan 1,735 (48 ) 0 (22 ) 37 0 1,702 544 1,158 Overseas 18,673 1,766 0 (603 ) 117 581 20,534 13,782 6,752 Purchased loans *1 1,702 (135 ) 117 (139 ) 101 4 1,650 629 1,021 Net investment in leases: 16,243 229 0 (625 ) 3 343 16,193 12,810 3,383 Subtotal 72,240 2,831 117 (2,980 ) 274 1,071 73,553 56,737 16,816 Other financial assets measured at amortized cost *2 7,044 1,150 0 (40 ) 6 58 8,218 618 7,600 Total ¥ 79,284 ¥ 3,981 ¥ 117 ¥ (3,020 ) ¥ 280 ¥ 1,129 ¥ 81,771 ¥ 57,355 ¥ 24,416 March 31, 2022 Millions of yen Ending Collective Individual Allowance for credit losses : Installment loans to consumer borrowers: Real estate loans Japan ¥ 5,716 ¥ 5,211 ¥ 505 Overseas 455 455 0 Card loans Japan 10,019 9,423 596 Other Japan 5,204 2,946 2,258 Overseas 1,105 961 144 Installment loans to corporate borrowers: Non-recourse Japan 81 81 0 The Americas 2,691 1,836 855 Real estate companies Japan 617 490 127 Overseas 735 735 0 Commercial, industrial companies Japan 1,337 505 832 Overseas 18,296 13,367 4,929 Purchased loans *1 1,575 608 967 Net investment 16,303 12,480 3,823 Subtotal 64,134 49,098 15,036 Other financial assets measured at amortized cost *2 7,282 562 6,720 Total ¥ 71,416 ¥ 49,660 ¥ 21,756 Nine months ended December 31, 2022 Millions of yen Beginning Provision Allowance during the Charge-offs *4 Recoveries Other *5 Ending Collective Individual Allowance for credit losses : Installment loans to consumer borrowers: Real estate loans Japan ¥ 5,716 ¥ 80 ¥ 0 ¥ (212 ) ¥ 20 ¥ 1 ¥ 5,605 ¥ 5,155 ¥ 450 Overseas 455 (24 ) 0 0 1 19 451 451 0 Card loans Japan 10,019 529 0 (404 ) 6 0 10,150 9,508 642 Other Japan 5,204 3,361 0 (1,464 ) 6 0 7,107 4,810 2,297 Overseas 1,105 616 0 (297 ) 0 (38 ) 1,386 1,174 212 Installment loans to corporate borrowers: Non-recourse Japan 81 62 0 0 0 0 143 143 0 The Americas 2,691 (1,184 ) 0 0 0 (17 ) 1,490 562 928 Real estate companies Japan 617 (18 ) 0 0 21 0 620 502 118 Overseas 735 162 0 (20 ) 0 49 926 926 0 Commercial, industrial companies Japan 1,337 102 0 (320 ) 69 0 1,188 388 800 Overseas 18,296 4,587 0 (2,202 ) 312 1,457 22,450 14,827 7,623 Purchased loans *1 1,575 (266 ) 4,389 (4,606 ) 56 8 1,156 553 603 Net investment in leases: 16,303 846 0 (2,040 ) 27 171 15,307 11,587 3,720 Subtotal 64,134 8,853 4,389 (11,565 ) 518 1,650 67,979 50,586 17,393 Other financial assets measured 7,282 46 0 (6,370 ) 19 137 1,114 554 560 Total ¥ 71,416 ¥ 8,899 ¥ 4,389 ¥ (17,935 ) ¥ 537 ¥ 1,787 ¥ 69,093 ¥ 51,140 ¥ 17,953 Three months ended December 31, 2022 Millions of yen Beginning Provision Allowance during the Charge-offs *4 Recoveries Other *5 Ending Collective Individual Allowance for credit losses : Installment loans to consumer Real estate loans Japan ¥ 5,648 ¥ 80 ¥ 0 ¥ (130 ) ¥ 7 ¥ 0 ¥ 5,605 ¥ 5,155 ¥ 450 Overseas 456 (22 ) 0 0 1 16 451 451 0 Card loans Japan 9,986 301 0 (139 ) 2 0 10,150 9,508 642 Other Japan 6,495 1,209 0 (599 ) 2 0 7,107 4,810 2,297 Overseas 1,322 330 0 (91 ) 0 (175 ) 1,386 1,174 212 Installment loans to corporate Non-recourse Japan 82 61 0 0 0 0 143 143 0 The Americas 1,869 (240 ) 0 0 0 (139 ) 1,490 562 928 Real estate companies Japan 610 3 0 0 8 (1 ) 620 502 118 Overseas 680 260 0 (6 ) 0 (8 ) 926 926 0 Commercial, industrial companies Japan 1,323 (154 ) 0 (43 ) 62 0 1,188 388 800 Overseas 20,039 4,473 0 (377 ) 2 (1,687 ) 22,450 14,827 7,623 Purchased loans *1 1,187 (24 ) 2,294 (2,297 ) 0 (4 ) 1,156 553 603 Net investment in leases: 16,240 264 0 (610 ) 2 (589 ) 15,307 11,587 3,720 Subtotal 65,937 6,541 2,294 (4,292 ) 86 (2,587 ) 67,979 50,586 17,393 Other financial assets measured 3,221 (111 ) 0 (1,803 ) 4 (197 ) 1,114 554 560 Total ¥ 69,158 ¥ 6,430 ¥ 2,294 ¥ (6,095 ) ¥ 90 ¥ (2,784 ) ¥ 69,093 ¥ 51,140 ¥ 17,953 Notes: 1. Loans held for sale 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. *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 provisions of ¥4,670 million and ¥7,707 million during the nine months ended December 31, 2021 and 2022, provisions of ¥2,564 million and ¥6,033 million during the three months ended December 31, 2021 and 2022, respectively. “Allowance for credit losses” on the consolidated balance sheets amounted to ¥69,459 million and ¥68,815 million as of March 31, 2022 and December 31, 2022, respectively. The reconciliation between the above table and the amounts reported on the consolidated financial statements during the nine and three months ended December 31, 2021 and 2022, and as of March 31, 2022 and December 31, 2022 are as follows: Millions of yen Nine months ended December 31, 2021 Three months ended December 31, 2021 March 31, 2022 Nine months ended December 31, 2022 Three months ended December 31, 2022 December 31, 2022 Net investment in leases ¥ 901 ¥ 229 ¥ 16,303 ¥ 846 ¥ 264 ¥ 15,307 Installment loans 5,455 2,602 47,831 8,007 6,277 52,672 Subtotal in the above table 6,356 2,831 64,134 8,853 6,541 67,979 Other financial assets measured at amortized cost 2,737 1,150 7,282 46 (111 ) 1,114 Total in the above table 9,093 3,981 71,416 8,899 6,430 69,093 Off-balance (2,897 ) (528 ) 0 (1,199 ) (331 ) 0 Available-for-sale 0 0 0 (5 ) 0 0 Less: Loans to affiliates *3(c) (1,526 ) (889 ) (1,957 ) 12 (66 ) (278 ) Amount reported on the consolidated financial statements ¥ 4,670 ¥ 2,564 ¥ 69,459 ¥ 7,707 ¥ 6,033 ¥ 68,815 *3(a) The allowance for off-balance *3(b) The allowance for available-for-sale *3(c) The provision for credit losses on loans to affiliates were a provision of ¥1,526 million and a reversal of ¥12 million during the nine months ended December 31, 2021 and 2022, provision s *4 Included in Charge-off *5 Other mainly includes foreign currency translation adjustments and increases or decreases in allowance due to consolidation or deconsolidation of subsidiaries. |
Summary of disclosure in tabular form of allowances for credit losses and provision for credit losses | Millions of yen Nine months ended December 31, 2021 Three months ended December 31, 2021 March 31, 2022 Nine months ended December 31, 2022 Three months ended December 31, 2022 December 31, 2022 Net investment in leases ¥ 901 ¥ 229 ¥ 16,303 ¥ 846 ¥ 264 ¥ 15,307 Installment loans 5,455 2,602 47,831 8,007 6,277 52,672 Subtotal in the above table 6,356 2,831 64,134 8,853 6,541 67,979 Other financial assets measured at amortized cost 2,737 1,150 7,282 46 (111 ) 1,114 Total in the above table 9,093 3,981 71,416 8,899 6,430 69,093 Off-balance (2,897 ) (528 ) 0 (1,199 ) (331 ) 0 Available-for-sale 0 0 0 (5 ) 0 0 Less: Loans to affiliates *3(c) (1,526 ) (889 ) (1,957 ) 12 (66 ) (278 ) Amount reported on the consolidated financial statements ¥ 4,670 ¥ 2,564 ¥ 69,459 ¥ 7,707 ¥ 6,033 ¥ 68,815 *3(a) The allowance for off-balance *3(b) The allowance for available-for-sale *3(c) The provision for credit losses on loans to affiliates were a provision of ¥1,526 million and a reversal of ¥12 million during the nine months ended December 31, 2021 and 2022, provision s |
Summary of purchased loans | The following table provides information about purchased loans which were acquired for the nine and three months ended December 31, 2021 and 2022: Millions of yen Nine months ended December 31, 2021 Nine months ended December 31, 2022 Purchase price ¥ 2,629 ¥ 1,954 Allowance for credit losses at acquisition date 1,869 4,389 Discount or premium attributable to other factors 178 228 Par value ¥ 4,676 ¥ 6,571 Millions of yen Three months ended December 31, 2021 Three months ended December 31, 2022 Purchase price ¥ 1,209 ¥ 14 Allowance for credit losses at acquisition date 117 2,294 Discount or premium attributable to other factors 56 2 Par value ¥ 1,382 ¥ 2,310 |
Summary of origination years of financial assets | The following table provides information about the origination years of financial assets as of March 31, 2022 and December 31, 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, 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 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 December 31, 2022 Millions of yen Portfolio segment Origination year (years ended March 31) Total Class Credit Quality 2023 2022 2021 2020 2019 Prior Consumer borrowers: Performing ¥ 279,069 ¥ 221,429 ¥ 292,158 ¥ 370,859 ¥ 299,267 ¥ 689,108 ¥ 2,151,890 Non-Performing 8,430 5,759 3,474 2,497 1,356 12,630 ¥ 34,146 Real estate loans Performing 254,879 209,234 289,473 368,900 298,125 686,204 ¥ 2,106,815 Non-Performing 18 90 419 420 300 12,003 ¥ 13,250 Other* Performing 24,190 12,195 2,685 1,959 1,142 2,904 ¥ 45,075 Non-Performing 8,412 5,669 3,055 2,077 1,056 627 ¥ 20,896 Corporate borrowers: Performing 331,404 383,034 135,275 189,169 114,673 153,536 ¥ 1,307,091 Non-Performing 251 6,424 3,740 6,853 4,183 29,212 ¥ 50,663 Non-recourse Japan Performing 51,157 17,997 6,697 22,476 4,449 7,677 ¥ 110,453 The Americas Performing 1,572 0 5,152 16,551 11,845 1,077 ¥ 36,197 Non-Performing 0 0 0 0 0 3,281 ¥ 3,281 Other than non-recourse Real estate companies in Japan Performing 88,733 56,046 34,123 28,091 24,014 49,538 ¥ 280,545 Non-Performing 0 231 0 950 67 942 ¥ 2,190 Real estate companies in overseas Performing 33,435 15,859 8,928 8,232 2,325 1,184 ¥ 69,963 Non-Performing 0 0 736 1,375 1,921 15,593 ¥ 19,625 Commercial, industrial and other companies in Japan Performing 55,014 40,482 18,375 20,394 9,283 15,739 ¥ 159,287 Non-Performing 125 126 445 408 133 455 ¥ 1,692 Commercial, industrial and other companies in overseas Performing 101,493 252,650 62,000 93,425 62,757 78,321 ¥ 650,646 Non-Performing 126 6,067 2,559 4,120 2,062 8,941 ¥ 23,875 Purchased loans: Performing 0 399 0 22 411 11,431 ¥ 12,263 Non-Performing 0 0 0 0 0 1,019 ¥ 1,019 Net investment in leases: Performing 344,973 291,705 158,474 119,810 63,666 85,668 ¥ 1,064,296 Non-Performing 2,369 3,381 2,163 2,254 1,747 5,601 ¥ 17,515 Japan Performing 150,756 148,036 109,244 90,976 53,106 81,867 ¥ 633,985 Non-Performing 106 513 655 817 794 2,247 ¥ 5,132 Overseas Performing 194,217 143,669 49,230 28,834 10,560 3,801 ¥ 430,311 Non-Performing 2,263 2,868 1,508 1,437 953 3,354 ¥ 12,383 Other financial assets measured at amortized cost Performing 2,361 0 2,090 282 0 32,182 ¥ 36,915 Non-Performing 0 0 0 0 0 917 ¥ 917 Total (excluding revolving repayment card loans) Performing ¥ 957,807 ¥ 896,567 ¥ 587,997 ¥ 680,142 ¥ 478,017 ¥ 971,925 ¥ 4,572,455 Non-Performing 11,050 15,564 9,377 11,604 7,286 49,379 ¥ 104,260 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 23 “Commitments, Guarantees and Contingent 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, 2022 and December 31, 2022 are as follows: 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 December 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 ¥ 165,590 ¥ 0 ¥ 165,590 ¥ 4,572,455 ¥ 4,738,045 Non-Performing 1,347 3,528 4,875 104,260 ¥ 109,135 |
Summary of past-due financial assets | The following table provides information about the past-due 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 December 31, 2022 Millions of yen Past-due Portfolio segment Class 30-89 past-due 90 days or more past-due Total past-due Total financing receivables Consumer borrowers ¥ 3,704 ¥ 8,770 ¥ 12,474 ¥ 2,356,501 Real estate loans 1,135 2,229 3,364 2,120,065 Card loans 490 1,158 1,648 170,465 Other 2,079 5,383 7,462 65,971 Corporate borrowers 7,193 27,554 34,747 1,357,754 Non-recourse Japan 0 0 0 110,453 The Americas 0 1,484 1,484 39,478 Other than Non-recourse Real estate companies in Japan 181 283 464 282,735 Real estate companies in overseas 0 19,625 19,625 89,588 Commercial, industrial and other companies in Japan 1,428 1,348 2,776 160,979 Commercial, industrial and other companies in overseas 5,584 4,814 10,398 674,521 Net investment in leases 12,634 16,018 28,652 1,081,811 Japan 2,182 4,547 6,729 639,117 Overseas 10,452 11,471 21,923 442,694 Total ¥ 23,531 ¥ 52,342 ¥ 75,873 ¥ 4,796,066 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, 2022 Millions of yen Beginning balance Ending balance 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 December 31, 2022 Millions of yen Beginning balance Ending balance Interest income Balance not Non-accrual Installment loans to consumer borrowers: Real estate loans Japan ¥ 1,824 ¥ 1,728 ¥ 175 ¥ 218 Overseas 475 568 0 0 Card loans Japan 503 1,160 22 0 Other Japan 2,391 4,778 134 11 Overseas 519 639 0 0 Installment loans to corporate borrowers: Non-recourse The Americas 8,787 3,281 0 0 Real estate companies Japan 351 283 39 15 Overseas 20,879 19,625 0 0 Commercial, industrial companies and other Japan 1,267 1,348 50 67 Overseas 18,634 24,741 0 2,959 Net investment in leases 17,771 17,301 0 0 Total ¥ 73,401 ¥ 75,452 ¥ 420 ¥ 3,270 |
Summary of troubled debt restructurings of financing receivables | The following table provides information about troubled debt restructurings of financing receivables that occurred during the nine and three months ended December 31, 2021 and 2022: Nine months ended December 31, 2021 Millions of yen Portfolio segment Class Pre-modification outstanding recorded investment Post-modification outstanding recorded investment Consumer borrowers ¥ 6,980 ¥ 4,796 Real estate loans 14 6 Card loans 1,108 844 Other 5,858 3,946 Corporate borrowers 5,134 5,000 Other than Non-recourse Commercial, industrial and other companies in overseas 5,134 5,000 Total ¥ 12,114 ¥ 9,796 Nine months ended December 31, 2022 Millions of yen Portfolio segment Class Pre-modification outstanding recorded investment Post-modification outstanding recorded investment Consumer borrowers ¥ 5,785 ¥ 4,579 Real estate loans 9 4 Card loans 1,079 936 Other 4,697 3,639 Corporate borrowers 8,444 8,442 Other than Non-recourse loans Real estate companies in Japan 231 230 Commercial, industrial and other companies in overseas 8,213 8,212 Total ¥ 14,229 ¥ 13,021 Three months ended December 31, 2021 Millions of yen Portfolio segment Class Pre-modification outstanding recorded investment Post-modification outstanding recorded investment Consumer borrowers ¥ 2,933 ¥ 1,735 Real estate loans 10 5 Card loans 417 316 Other 2,506 1,414 Corporate borrowers 138 134 Other than Non-recourse Commercial, industrial and other companies in overseas 138 134 Total ¥ 3,071 ¥ 1,869 Three months ended December 31, 2022 Millions of yen Portfolio segment Class Pre-modification outstanding recorded investment Post-modification outstanding recorded investment Consumer borrowers ¥ 1,806 ¥ 1,404 Real estate loans 4 1 Card loans 366 317 Other 1,436 1,086 Corporate borrowers 231 230 Other than Non-recourse loans Real estate companies in Japan 231 230 Total ¥ 2,037 ¥ 1,634 |
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 December 31, 2021 and for which there was a payment default during the nine and three months ended December 31, 2021: Nine months ended December 31, 2021 Millions of yen Portfolio segment Class Recorded investment Consumer borrowers ¥ 673 Real estate loans 4 Card loans 6 Other 663 Total ¥ 673 Three months ended December 31, 2021 Millions of yen Portfolio segment Class Recorded investment Consumer borrowers ¥ 196 Real estate loans 4 Card loans 3 Other 189 Total ¥ 196 The following table provides information about financing receivables modified as troubled debt restructurings within the previous 12 months from December 31, 2022 and for which there was a payment default during the nine and three months ended December 31, 2022: Nine months ended December 31, 2022 Millions of yen Portfolio segment Class Recorded investment Consumer borrowers ¥ 518 Card loans 5 Other 513 Corporate borrowers 1,671 Other than Non-recourse Commercial, industrial and other companies in overseas 1,671 Total ¥ 2,189 Three months ended December 31, 2022 Millions of yen Portfolio segment Class Recorded investment Consumer borrowers ¥ 195 Card loans 4 Other 191 Total ¥ 195 |
Investment in Securities (Table
Investment in Securities (Tables) | 9 Months Ended |
Dec. 31, 2022 | |
Investments Schedule [Abstract] | |
Summary of Investment in Securities | Investment in securities as of March 31, 2022 and December 31, 2022 consists of the following: Millions of yen March 31, 2022 December 31, 2022 Equity securities * ¥ 560,643 ¥ 561,116 Trading debt securities 2,503 2,968 Available-for-sale 2,174,891 2,107,359 Held-to-maturity 114,312 114,757 Total ¥ 2,852,349 ¥ 2,786,200 * The amount of assets under management of variable annuity and variable life insurance contracts included in equity securities were ¥185,115 million and ¥149,314 million as of March 31, 2022 and December 31, 2022, respectively. The amount of investment funds that are accounted for under the equity method included in equity securities were ¥90,650 million and ¥90,709 million as of March 31, 2022 and December 31, 2022, respectively. The amount of investment funds elected for the fair value option included in equity securities, and others were ¥11,709 million and ¥15,002 million as of March 31, 2022 and December 31, 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, 2022 and December 31, 2022, and for the nine and three months ended December 31, 2021 and 2022. Millions of yen March 31, 2022 Nine months ended Three months ended Carrying Accumulated Accumulated Impairments Upward Impairments Upward Equity securities measured using the measurement alternative ¥ 58,723 ¥ (13,880 ) ¥ 401 ¥ (57 ) ¥ 69 ¥ (38 ) ¥ 21 Millions of yen December 31, 2022 Nine months ended Three months ended Carrying Accumulated Accumulated Impairments Upward Impairments Upward Equity securities measured using the measurement alternative ¥ 68,952 ¥ (13,648 ) ¥ 1,530 ¥ (368 ) ¥ 1,182 ¥ 0 ¥ 286 |
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, 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 December 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 ¥ 971,869 ¥ 0 ¥ 1,607 ¥ (227,391 ) ¥ 746,085 Japanese prefectural and foreign municipal bond securities 381,625 (143 ) 818 (28,290 ) 354,010 Corporate debt securities 865,330 0 4,623 (97,798 ) 772,155 CMBS and RMBS in the Americas 43,160 0 44 (2,262 ) 40,942 Other asset-backed securities and debt securities 198,143 (16 ) 5,733 (9,693 ) 194,167 2,460,127 (159 ) 12,825 (365,434 ) 2,107,359 Held-to-maturity Japanese government bond securities and other 114,757 0 12,000 (453 ) 126,304 ¥ 2,574,884 ¥ (159 ) ¥ 24,825 ¥ (365,887 ) ¥ 2,233,663 |
Summary of rollforward of allowance for credit losses | The following table presents a rollforward of the allowance for credit losses for the nine months ended December 3 1 Millions of yen Nine months ended December 31, 2021 Foreign municipal bond Total Beginning ¥ 120 ¥ 120 Increase (Decrease) from the effects of changes in foreign exchange rates 4 4 Ending ¥ 124 ¥ 124 Millions of yen Nine months ended December 31, 2022 Foreign municipal bond Japanese other asset- Total Beginning ¥ 132 ¥ 21 ¥ 153 Additional increases (decreases) to the allowance for credit losses on AFS debt securities that had an allowance recorded in a previous period, net 0 (5 ) (5 ) Increase (Decrease) from the effects of changes in foreign exchange rates 11 0 11 Ending ¥ 143 ¥ 16 ¥ 159 The following table presents a rollforward of the allowance for credit losses for the three months ended December 3 1 Millions of yen Three months ended December 31, 2021 Foreign municipal bond Total Beginning ¥ 121 ¥ 121 Increase (Decrease) from the effects of changes in foreign exchange rates 3 3 Ending ¥ 124 ¥ 124 Millions of yen Three months ended December 31, 2022 Foreign municipal bond Japanese other asset- Total Beginning ¥ 156 ¥ 16 ¥ 172 Increase (Decrease) from the effects of changes in foreign exchange rates (13 ) 0 (13 ) Ending ¥ 143 ¥ 16 ¥ 159 |
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, 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 ) December 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 ¥ 156,264 ¥ (41,597 ) ¥ 547,801 ¥ (185,794 ) ¥ 704,065 ¥ (227,391 ) Japanese prefectural and foreign municipal bond securities 200,136 (13,159 ) 117,775 (15,274 ) 317,911 (28,433 ) Corporate debt securities 374,243 (35,676 ) 243,218 (62,122 ) 617,461 (97,798 ) CMBS and RMBS in the Americas 26,455 (1,749 ) 9,400 (513 ) 35,855 (2,262 ) Other asset-backed securities and debt securities 115,803 (5,804 ) 40,257 (3,905 ) 156,060 (9,709 ) ¥ 872,901 ¥ (97,985 ) ¥ 958,451 ¥ (267,608 ) ¥ 1,831,352 ¥ (365,593 ) The following table provides information about available-for-sale 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 ) December 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 ¥ 156,264 ¥ (41,597 ) ¥ 547,801 ¥ (185,794 ) ¥ 704,065 ¥ (227,391 ) Japanese prefectural and foreign municipal bond securities 200,136 (13,159 ) 114,322 (15,131 ) 314,458 (28,290 ) Corporate debt securities 374,243 (35,676 ) 243,218 (62,122 ) 617,461 (97,798 ) CMBS and RMBS in the Americas 26,455 (1,749 ) 9,400 (513 ) 35,855 (2,262 ) Other asset-backed securities and debt securities 115,744 (5,788 ) 40,257 (3,905 ) 156,001 (9,693 ) ¥ 872,842 ¥ (97,969 ) ¥ 954,998 ¥ (267,465 ) ¥ 1,827,840 ¥ (365,434 ) |
Transfer of Financial Assets (T
Transfer of Financial Assets (Tables) | 9 Months Ended |
Dec. 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 rollforwards of the amount of the servicing assets for the nine and three months ended December 31, 2021 and 2022 are as follows: Millions of yen Nine months ended December 31, 2021 Nine months ended December 31, 2022 Three months ended December 31, 2021 Three months ended December 31, 2022 Beginning balance ¥ 63,754 ¥ 70,254 ¥ 65,238 ¥ 80,190 Increase mainly from loans sold with servicing retained 9,849 8,150 2,711 2,724 Decrease mainly from amortization (10,045 ) (11,208 ) (3,683 ) (3,062 ) Increase from the effects of changes in foreign exchange rates 2,502 5,969 1,794 (6,687 ) Ending balance ¥ 66,060 ¥ 73,165 ¥ 66,060 ¥ 73,165 |
Fair Value of Servicing Assets | The fair value of the servicing assets as of March 31, 2022 and December 31, 2022 are as follows: Millions of yen March 31, 2022 December 31, 2022 Beginning balance ¥ 74,135 ¥ 83,732 Ending balance ¥ 83,732 ¥ 94,657 |
Variable Interest Entities (Tab
Variable Interest Entities (Tables) | 9 Months Ended |
Dec. 31, 2022 | |
Variable Interest Entity, Primary Beneficiary | |
Information about Variable Interest Entities (Consolidated and Non-consolidated) | 1. Consolidated VIEs 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 December 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 2,031 0 0 0 (c) VIEs for acquisition of real estate for the Company and its subsidiaries’ real estate-related business 55,989 13,056 16,260 0 (d) VIEs for corporate rehabilitation support business 679 6 0 0 (e) VIEs for investment in securities 165,132 401 0 65,005 (f) VIEs for securitizing financial assets such as finance lease receivable and loan receivable 225,709 157,468 225,709 0 (g) VIEs for securitization of loan receivable originated by third parties 553 1,103 553 0 (h) VIEs for power generation projects 269,682 165,137 193,428 38,078 (i) Other VIEs 167,024 64,098 137,634 0 Total ¥ 886,799 ¥ 401,269 ¥ 573,584 ¥ 103,083 *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, 2022 Millions of yen Carrying amount of the Company and its subsidiaries Maximum exposure to loss * Types of VIEs Total assets Non-recourse Investments (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 December 31, 2022 Millions of yen Carrying amount of the Company and its subsidiaries Maximum exposure to loss * Types of VIEs Total assets Non-recourse Investments (a) VIEs for liquidating customer assets ¥ 8,269 ¥ 0 ¥ 991 ¥ 991 (b) VIEs for acquisition of real estate and real estate development projects for customers 599,546 11,562 8,747 21,791 (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 9,705,860 0 95,958 162,354 (f) VIEs for securitizing financial assets such as finance lease receivable and loan receivable 0 0 0 0 (g) VIEs for securitization of loan receivable originated by third parties 932,798 0 13,499 13,499 (h) VIEs for power generation projects 9,091 0 562 4,892 (i) Other VIEs 1,476,960 3,312 25,041 39,776 Total ¥ 12,732,524 ¥ 14,874 ¥ 144,798 ¥ 243,303 * Maximum exposure to loss includes remaining balance of commitments that could require the Company and its subsidiaries to provide investments or loans to the VIE. |
Investment in Affiliates (Table
Investment in Affiliates (Tables) | 9 Months Ended |
Dec. 31, 2022 | |
Investments in and Advances to Affiliates [Abstract] | |
Summary of Investment in Affiliates | Investment in affiliates at March 31, 2022 and December 31, 2022 consists of the following: Millions of yen March 31, 2022 December 31, 2022 Shares ¥ 943,090 ¥ 1,003,198 Loans and others 34,943 37,382 ¥ 978,033 ¥ 1,040,580 |
Redeemable Noncontrolling Int_2
Redeemable Noncontrolling Interests (Tables) | 9 Months Ended |
Dec. 31, 2022 | |
Noncontrolling Interest [Abstract] | |
Changes in Redeemable Noncontrolling Interests | Changes in redeemable noncontrolling interests for the nine months ended December 31, 2021 and 2022 are as follows: Millions of yen Nine months ended December 31, 2021 Nine months ended December 31, 2022 Beginning balance ¥ 0 ¥ 0 Transaction with noncontrolling interests 0 949 Comprehensive income Net income 0 23 Other comprehensive income Net change of foreign currency translation adjustments 0 2 Total other comprehensive income 0 2 Comprehensive income 0 25 Ending balance ¥ 0 ¥ 974 |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Income (Loss) (Tables) | 9 Months Ended |
Dec. 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 for the nine months ended December 31, 2021 and 2022, are as follows: Nine months ended December 31, 2021 Millions of yen Net unrealized gains (losses) on investment in securities Debt Defined benefit pension Foreign currency translation adjustments Net unrealized gains (losses) on derivative instruments Accumulated other comprehensive income (loss) 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 ¥(6,411) million 16,680 16,680 Reclassification adjustment included in net income, net of tax of ¥1,392 million (4,107 ) (4,107 ) Debt valuation adjustments, net of tax of ¥12 million (32 ) (32 ) Reclassification adjustment included in net income, net of tax of ¥9 million (22 ) (22 ) Defined benefit pension plans, net of tax of ¥57 million (110 ) (110 ) Reclassification adjustment included in net income, net of tax of ¥(114) million 276 276 Foreign currency translation adjustments, net of tax of ¥2,997 million 39,553 39,553 Reclassification adjustment included in net income, net of tax of ¥(378) million 799 799 Net unrealized gains (losses) on derivative instruments, net of tax of ¥(1,163) million 4,427 4,427 Reclassification adjustment included in net income, net of tax of ¥(458) million 1,259 1,259 Total other comprehensive income (loss) 12,573 (54 ) 166 40,352 5,686 58,723 Transaction with noncontrolling interests 0 0 0 (1,472 ) (3 ) (1,475 ) Less: Other Comprehensive Income (loss) Attributable to the Noncontrolling Interests 0 0 (1 ) 1,673 295 1,967 Balance at December 31, 2021 * ¥ (3,635 ) ¥ 504 ¥ (20,906 ) ¥ 751 ¥ (6,083 ) ¥ (29,369 ) * As of December 31, 2021, there were no net unrealized gains (losses) on investment in securities related to available-for-sale Nine months ended December 31, 2022 Millions of yen Net unrealized gains (losses) on investment in securities Debt Defined benefit pension Foreign currency translation adjustments Net unrealized gains (losses) on derivative instruments Accumulated other comprehensive income (loss) Balance at March 31, 2022 ¥ (72,892 ) ¥ 221 ¥ (8,072 ) ¥ 61,914 ¥ 2,788 ¥ (16,041 ) Net unrealized gains (losses) on investment in securities, (181,083 ) (181,083 ) Reclassification adjustment included in net income, (1,300 ) (1,300 ) Debt valuation adjustments, net of tax of ¥(7) million 21 21 Reclassification adjustment included in net income, (9 ) (9 ) Defined benefit pension plans, net of tax of ¥39 million (54 ) (54 ) Reclassification adjustment included in net income, (138 ) (138 ) Foreign currency translation adjustments, net of tax of ¥5,849 105,084 105,084 Reclassification adjustment included in net income, 2,246 2,246 Net unrealized gains (losses) on derivative instruments, 22,216 22,216 Reclassification adjustment included in net income, (1,039 ) (1,039 ) Total other comprehensive income (loss) (182,383 ) 12 (192 ) 107,330 21,177 (54,056 ) Less: Other Comprehensive Income (loss) Attributable to the Noncontrolling Interests 0 0 (2 ) 3,857 1,963 5,818 Less: Other Comprehensive Income Attributable to the Redeemable Noncontrolling Interests 0 0 0 2 0 2 Balance at December 31, 2022 * ¥ (255,275 ) ¥ 233 ¥ (8,262 ) ¥ 165,385 ¥ 22,002 ¥ (75,917 ) * As of December 31, 2022, there were no net unrealized gains (losses) on investment in securities related to available-for-sale Changes in each component of accumulated other comprehensive income (loss) attributable to ORIX Corporation Shareholders for the three months ended December 31, 2021 and 2022, are as follows: Three months ended December 31, 2021 Millions of yen Net unrealized gains (losses) on investment in securities Debt Defined benefit pension Foreign currency translation adjustments Net unrealized gains (losses) on derivative instruments Accumulated other comprehensive income (loss) Balance at September 30, 2021 ¥ (7,888 ) ¥ 497 ¥ (20,923 ) ¥ (22,139 ) ¥ (9,369 ) ¥ (59,822 ) Net unrealized gains (losses) on investment in securities, 4,302 4,302 Reclassification adjustment included in net income, (49 ) (49 ) Debt valuation adjustments, net of tax of ¥(5) million 14 14 Reclassification adjustment included in net income, (7 ) (7 ) Defined benefit pension plans, net of tax of ¥33 million (72 ) (72 ) Reclassification adjustment included in net income, 89 89 Foreign currency translation adjustments, net of tax of ¥4,338 million 25,173 25,173 Reclassification adjustment included in net income, 247 247 Net unrealized gains (losses) on derivative instruments, 4,079 4,079 Reclassification adjustment included in net income, (563 ) (563 ) Total other comprehensive income 4,253 7 17 25,420 3,516 33,213 Transaction with noncontrolling interests 0 0 0 (1,472 ) (3 ) (1,475 ) Less: Other Comprehensive Income Attributable to the Noncontrolling Interests 0 0 0 1,058 227 1,285 Balance at December 31, 2021 * ¥ (3,635 ) ¥ 504 ¥ (20,906 ) ¥ 751 ¥ (6,083 ) ¥ (29,369 ) * As of December 31, 2021, there were no net unrealized gains (losses) on investment in securities related to available-for-sale Three months ended December 31, 2022 Millions of yen Net unrealized gains (losses) on investment in securities Debt Defined benefit pension Foreign currency translation adjustments Net unrealized gains (losses) on derivative instruments Accumulated other comprehensive income (loss) Balance at September 30, 2022 ¥ (216,759 ) ¥ 281 ¥ (8,390 ) ¥ 239,035 ¥ 19,847 ¥ 34,014 Net unrealized gains (losses) on investment in securities, (38,088 ) (38,088 ) Reclassification adjustment included in net income, (428 ) (428 ) Debt valuation adjustments, net of tax of ¥18 million (45 ) (45 ) Reclassification adjustment included in net income, (3 ) (3 ) Defined benefit pension plans, net of tax of ¥(42) million 171 171 Reclassification adjustment included in net income, (47 ) (47 ) Foreign currency translation adjustments, net of tax of ¥(21,294) million (79,909 ) (79,909 ) Reclassification adjustment included in net income, 2,144 2,144 Net unrealized gains (losses) on derivative instruments, 5,134 5,134 Reclassification adjustment included in net income, (2,488 ) (2,488 ) Total other comprehensive income (loss) (38,516 ) (48 ) 124 (77,765 ) 2,646 (113,559 ) Less: Other Comprehensive Income (loss) Attributable to the Noncontrolling Interests 0 0 (4 ) (4,029 ) 491 (3,542 ) Less: Other Comprehensive Income (loss) Attributable to the Redeemable Noncontrolling Interests 0 0 0 (86 ) 0 (86 ) Balance at December 31, 2022 * ¥ (255,275 ) ¥ 233 ¥ (8,262 ) ¥ 165,385 ¥ 22,002 ¥ (75,917 ) * As of December 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) in the nine months ended December 31, 2021 and 2022 are as follows: Nine months ended December 31, 2021 Details about accumulated other comprehensive income components Reclassification adjustment included in net income Millions of yen Consolidated statements of income caption Net unrealized gains (losses) on investment in securities Sales of debt securities ¥ 4,339 Gains on investment securities and dividends Sales of debt securities 1,784 Life insurance premiums and related investment income Amortization of debt securities 43 Finance revenues Amortization of debt securities (513 ) Life insurance premiums and related investment income Others (154 ) Write-downs of securities 5,499 Total before income tax (1,392 ) Income tax (expense) or benefit ¥ 4,107 Net of tax Debt valuation adjustments Fulfillment of policy liabilities and amortization of policy account balances ¥ 31 Life insurance costs 31 Total before income tax (9 ) Income tax (expense) or benefit ¥ 22 Net of tax Defined benefit pension plans Amortization of prior service credit ¥ 303 See Note 16 “Pension Plans” Amortization of net actuarial loss (692 ) See Note 16 “Pension Plans” Amortization of transition obligation (1 ) See Note 16 “Pension Plans” (390 ) Total before income tax 114 Income tax (expense) or benefit ¥ (276 ) Net of tax Foreign currency translation adjustments Foreign exchange contracts ¥ (1,256 ) Gains on sales of subsidiaries and affiliates and liquidation losses, net/Interest expense/Other (income) and expense Sales or liquidation 79 Gains on sales of subsidiaries and affiliates and liquidation losses, net (1,177 ) Total before income tax 378 Income tax (expense) or benefit ¥ (799 ) Net of tax Net unrealized gains (losses) on derivative instruments Interest rate swap agreements ¥ (1,338 ) Interest expense Foreign exchange contracts (247 ) Interest expense/Other (income) and expense Foreign currency swap agreements (132 ) Interest expense/Other (income) and expense (1,717 ) Total before income tax 458 Income tax (expense) or benefit ¥ (1,259 ) Net of tax Nine months ended December 31, 2022 Details about accumulated other comprehensive income components Reclassification adjustment included in net income Millions of yen Consolidated statements of income caption Net unrealized gains (losses) on investment in securities Sales of debt securities ¥ 119 Gains on investment securities and dividends Sales of debt securities 1,261 Life insurance premiums and related investment income Amortization of debt securities 369 Finance revenues Amortization of debt securities 553 Life insurance premiums and related investment income Others (537 ) Write-downs of securities 1,765 Total before income tax (465 ) Income tax (expense) or benefit ¥ 1,300 Net of tax Debt valuation adjustments Fulfillment of policy liabilities and amortization of policy account balances ¥ 12 Life insurance costs 12 Total before income tax (3 ) Income tax (expense) or benefit ¥ 9 Net of tax Defined benefit pension plans Amortization of prior service credit ¥ 257 See Note 16 “Pension Plans” Amortization of net actuarial loss (69 ) See Note 16 “Pension Plans” Amortization of transition obligation (1 ) See Note 16 “Pension Plans” 187 Total before income tax (49 ) Income tax (expense) or benefit ¥ 138 Net of tax Foreign currency translation adjustments Foreign exchange contracts ¥ (11,275 ) Gains on sales of subsidiaries and affiliates and liquidation losses, net/Interest expense/Other (income) and expense Sales or liquidation 8,052 Gains on sales of subsidiaries and affiliates and liquidation losses, net (3,223 ) Total before income tax 977 Income tax (expense) or benefit ¥ (2,246 ) Net of tax Net unrealized gains (losses) on derivative instruments Interest rate swap agreements ¥ (134 ) Interest expense Foreign exchange contracts 0 Interest expense/Other (income) and expense Foreign currency swap agreements 1,516 Interest expense/Other (income) and expense 1,382 Total before income tax (343 ) Income tax (expense) or benefit ¥ 1,039 Net of tax Amounts reclassified to net income from accumulated other comprehensive income (loss) in the three months ended December 31, 2021 and 2022 are as follows: Details about accumulated other comprehensive income components Three months ended December 31, 2021 Reclassification net income Consolidated statements of income caption Millions of yen Net unrealized gains (losses) on investment in securities Sales of debt securities ¥ 162 Gains on investment securities and dividends Sales of debt securities 369 Life insurance premiums and related investment income Amortization of debt securities (15 ) Finance revenues Amortization of debt securities (166 ) Life insurance premiums and related investment income Others (113 ) Write-downs of securities and other 237 Total before income tax (188 ) Income tax (expense) or benefit ¥ 49 Net of tax Debt valuation adjustments Fulfillment of policy liabilities and amortization of policy account balances ¥ 10 Life insurance costs 10 Total before income tax (3 ) Income tax (expense) or benefit ¥ 7 Net of tax Defined benefit pension plans Amortization of prior service credit ¥ 102 See Note 16 “Pension Plans” Amortization of net actuarial loss (231 ) See Note 16 “Pension Plans” Amortization of transition obligation (0 ) See Note 16 “Pension Plans” (129 ) Total before income tax 40 Income tax (expense) or benefit ¥ (89 ) Net of tax Foreign currency translation adjustments Foreign exchange contracts (358 ) Interest expense (358 ) Total before income tax 111 Income tax (expense) or benefit ¥ (247 ) Net of tax Net unrealized gains (losses) on derivative instruments Interest rate swap agreements ¥ (796 ) Interest expense Foreign exchange contracts (123 ) Interest expense/Other (income) and expense Foreign currency swap agreements 1,617 Interest expense/Other (income) and expense 698 Total before income tax (135 ) Income tax (expense) or benefit ¥ 563 Net of tax Three months ended December 31, 2022 Details about accumulated other comprehensive income components Reclassification net income Consolidated statements of income caption Millions of yen Net unrealized gains (losses) on investment in securities Sales of debt securities ¥ 102 Gains on investment securities and dividends Sales of debt securities 450 Life insurance premiums and related investment income Amortization of debt securities 207 Finance revenues Amortization of debt securities 379 Life insurance premiums and related investment income Others (537 ) Write-downs of securities and other 601 Total before income tax (173 ) Income tax (expense) or benefit ¥ 428 Net of tax Debt valuation adjustments Fulfillment of policy liabilities and amortization of policy account balances ¥ 4 Life insurance costs 4 Total before income tax (1 ) Income tax (expense) or benefit ¥ 3 Net of tax Defined benefit pension plans Amortization of prior service credit ¥ 87 See Note 16 “Pension Plans” Amortization of net actuarial loss (24 ) See Note 16 “Pension Plans” Amortization of transition obligation (0 ) See Note 16 “Pension Plans” 63 Total before income tax (16 ) Income tax (expense) or benefit ¥ 47 Net of tax Foreign currency translation adjustments Foreign exchange contracts ¥ (9,622 ) Gains on sales of subsidiaries and affiliates and liquidation Sales or liquidation ¥ 6,513 Gains on sales of subsidiaries and affiliates and liquidation (3,109 ) Total before income tax 965 Income tax (expense) or benefit ¥ (2,144 ) Net of tax Net unrealized gains (losses) on derivative instruments Interest rate swap agreements ¥ 23 Interest expense Foreign exchange contracts 164 Interest expense/Other (income) and expense Foreign currency swap agreements 3,080 Interest expense/Other (income) and expense 3,267 Total before income tax (779 ) Income tax (expense) or benefit ¥ 2,488 Net of tax |
ORIX Corporation Shareholders_2
ORIX Corporation Shareholders' Equity (Tables) | 9 Months Ended |
Dec. 31, 2022 | |
Stockholders' Equity Note [Abstract] | |
Changes in Number of Shares Issued | Information about ORIX Corporation Shareholders’ Equity for the nine months ended December 31, 2021 and 2022 are as follows: (1) Dividend payments Nine months ended December 31, 2021 Nine months ended December 31, 2022 Resolution The board of directors on May 20, 2021 The board of directors on May 18, 2022 Type of shares Common stock Common stock Total dividends paid ¥52,438 million ¥55,704 million Dividend per share ¥43.00 ¥46.60 Date of record for dividend March 31, 2021 March 31, 2022 Effective date for dividend June 7, 2021 June 3, 2022 Dividend resource Retained earnings Retained earnings Resolution The board of directors on November 4, 2021 The board of directors on November 7, 2022 Type of shares Common stock Common stock Total dividends paid ¥46,957 million ¥50,586 million Dividend per share ¥39.00 ¥42.80 Date of record for dividend September 30, 2021 September 30, 2022 Effective date for dividend December 9, 2021 December 6, 2022 Dividend resource Retained earnings Retained earnings |
Selling, General and Administ_2
Selling, General and Administrative Expenses (Tables) | 9 Months Ended |
Dec. 31, 2022 | |
Text Block [Abstract] | |
Summary of Selling, General and Administrative Expenses | Selling, general and administrative expenses for the nine months ended December 31, 2021 and 2022 are as follows: Millions of yen Nine months ended Nine months ended Personnel expenses ¥ 220,758 ¥ 238,728 Selling expenses 52,825 64,151 Administrative expenses 98,174 102,845 Depreciation of office facilities 6,767 6,563 Total ¥ 378,524 ¥ 412,287 Selling, general and administrative expenses for the three months ended December 31, 2021 and 2022 are as follows: Millions of yen Three months ended December 31, 2021 Three months ended December 31, 2022 Personnel expenses ¥ 76,296 ¥ 84,628 Selling expenses 20,616 22,900 Administrative expenses 33,400 34,592 Depreciation of office facilities 2,328 2,213 Total ¥ 132,640 ¥ 144,333 |
Pension Plans (Tables)
Pension Plans (Tables) | 9 Months Ended |
Dec. 31, 2022 | |
Net Pension Cost of Defined Benefit Plans | Net periodic pension cost for the nine months ended December 31, 2021 and 2022 consists of the following: Millions of yen Nine months ended December 31, 2021 Nine months ended December 31, 2022 Japanese plans: Service cost ¥ 4,540 ¥ 4,290 Interest cost 594 522 Expected return on plan assets (1,997 ) (2,051 ) Amortization of prior service credit (50 ) (19 ) Amortization of net actuarial loss 309 58 Net periodic pension cost ¥ 3,396 ¥ 2,800 Millions of yen Nine months ended December 31, 2021 Nine months ended December 31, 2022 Overseas plans: Service cost ¥ 2,966 ¥ 2,741 Interest cost 986 1,533 Expected return on plan assets (3,139 ) (3,561 ) Amortization of prior service credit (253 ) (238 ) Amortization of net actuarial loss 383 11 Amortization of transition obligation 1 1 Net periodic pension cost ¥ 944 ¥ 487 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. Net periodic pension cost for the three months ended December 31, 2021 and 2022 consists of the following: Millions of yen Three months ended December 31, 2021 Three months ended December 31, 2022 Japanese plans: Service cost ¥ 1,517 ¥ 1,465 Interest cost 175 175 Expected return on plan assets (666 ) (689 ) Amortization of prior service credit (17 ) (6 ) Amortization of net actuarial loss 103 20 Net periodic pension cost ¥ 1,112 ¥ 965 Millions of yen Three months ended December 31, 2021 Three months ended December 31, 2022 Overseas plans: Service cost ¥ 992 ¥ 928 Interest cost 327 523 Expected return on plan assets (1,046 ) (1,213 ) Amortization of prior service credit (85 ) (81 ) Amortization of net actuarial loss 128 4 Amortization of transition obligation 0 0 Net periodic pension cost ¥ 316 ¥ 161 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. |
Life Insurance Operations (Tabl
Life Insurance Operations (Tables) | 9 Months Ended |
Dec. 31, 2022 | |
Insurance [Abstract] | |
Life Insurance Premiums and Related Investment Income | Life insurance premiums and related investment income for the nine and three months ended December 31, 2021 and 2022 consist of the following: Millions of yen Nine months ended December 31, 2021 Nine months ended December 31, 2022 Life insurance premiums ¥ 311,165 ¥ 328,308 Life insurance related investment income* 37,536 28,009 ¥ 348,701 ¥ 356,317 * Life insurance related investment income for the nine months ended December 31, 2021 and 2022 include net unrealized holding a gain of ¥12,096 million and a loss of ¥9,301 million on equity securities held as of December 31, 2021 and 2022, respectively. Millions of yen Three months ended December 31, 2021 Three months ended December 31, 2022 Life insurance premiums ¥ 102,690 ¥ 107,546 Life insurance related investment income (loss)* 13,214 (14,440 ) ¥ 115,904 ¥ 93,106 * Life insurance related investment income ( loss |
Reinsurance Benefits and Reinsurance Premiums Included in Life Insurance Premiums | Life insurance premiums include reinsurance benefits, net of reinsurance premiums. For the nine and three months ended December 31, 2021 and 2022, reinsurance benefits and reinsurance premiums included in life insurance premiums are as follows: Millions of yen Nine months ended December 31, 2021 Nine months ended December 31, 2022 Reinsurance benefits ¥ 1,114 ¥ 1,080 Reinsurance premiums (3,272 ) (3,560 ) Millions of yen Three months ended December 31, 2021 Three months ended December 31, 2022 Reinsurance benefits ¥ 262 ¥ 423 Reinsurance premiums (1,046 ) (1,170 ) |
Gains or Losses Relating to Variable Annuity and Variable Life Insurance Contracts | The above mentioned gains or losses relating to variable annuity and variable life insurance contracts for the nine and three months ended December 31, 2021 and 2022 are mainly as follows: Millions of yen Nine months ended December 31, 2021 Nine months ended December 31, 2022 Life insurance premiums and related investment income : Net realized and unrealized gains or losses from investment assets ¥ 13,282 ¥ (10,994 ) Net gains or losses from derivative contracts : (1,359 ) (203 ) Futures (1,206 ) 200 Foreign exchange contracts (153 ) (403 ) Life insurance costs : Changes in the fair value of the policy liabilities and policy account balances ¥ (50,289 ) ¥ (35,931 ) Insurance costs recognized for insurance and annuity payouts as a result of insured events 58,161 23,179 Changes in the fair value of the reinsurance contracts 1,028 76 Millions of yen Three months ended December 31, 2021 Three months ended December 31, 2022 Life insurance premiums and related investment income : Net realized and unrealized gains or losses from investment assets ¥ 2,419 ¥ 826 Net gains or losses from derivative contracts : (198 ) (455 ) Futures (83 ) (652 ) Foreign exchange contracts (115 ) 197 Life insurance costs : Changes in the fair value of the policy liabilities and policy account balances ¥ (10,004 ) ¥ (7,286 ) Insurance costs recognized for insurance and annuity payouts as a result of insured events 11,145 6,213 Changes in the fair value of the reinsurance contracts 295 564 |
Write-Downs of Long-Lived Ass_2
Write-Downs of Long-Lived Assets (Tables) | 9 Months Ended |
Dec. 31, 2022 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Long-Lived Assets Classified as Held for Sale | As of March 31, 2022 and December 31, 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 As of March 31, 2022 As of December 31, 2022 Investment in operating leases ¥ 35,061 ¥ 13,359 Property under facility operations 8,376 8 Office facilities 1,375 0 Other assets 1,556 0 Other liabilities 1,761 0 |
Breakdowns of Recognized Impairment Losses for Difference between Carrying Amounts and Fair Values Reflected as Write-Downs of Long-Lived Assets | For the nine months ended December 31, 2021 and 2022, the Company and its subsidiaries recognized impairment losses for the difference between carrying amounts and fair values in the amount of ¥15,068 million and ¥1,807 million, respectively, which are reflected as write-downs of long-lived assets. Breakdowns of these amounts are as follows. Nine months ended December 31, 2021 Nine months ended December 31, 2022 Amount (Millions of yen) The number of Amount (Millions of yen) The number of Write-downs of the assets held for sale: Commercial facilities other than office buildings ¥ 757 2 ¥ 0 — Condominiums 13 2 0 — Others* 11,878 — 75 — Total ¥ 12,648 — ¥ 75 — Nine months ended December 31, 2021 Nine months ended December 31, 2022 Amount The number of Amount The number of Write-downs due to decline in estimated future cash flows: Office buildings ¥ 0 0 ¥ 1,535 2 Commercial facilities other than office buildings 11 1 51 2 Condominiums 3 4 3 3 Others* 2,406 — 143 — Total ¥ 2,420 — ¥ 1,732 — * For “Others,” the number of properties is omitted. In addition, write-downs of other long-lived assets for the nine months ended December 31, 2021 include write-downs of ¥11,641 million of property under facility operations and others held by a subsidiary and ¥2,331 million of two aircrafts. For the three months ended December 31, 2021 and 2022, the Company and its subsidiaries recognized impairment losses for the difference between carrying amounts and fair values in the amount of ¥14,980 million and ¥1,554 million, respectively, which are reflected as write-downs of long-lived assets. Breakdowns of these amounts are as follows. Three months ended December 31, 2021 Three months ended December 31, 2022 Amount (Millions of yen) The number of Amount (Millions of yen) The number of Write-downs of the assets held for sale: Commercial facilities other than office buildings ¥ 757 2 ¥ 0 0 Condominiums 12 1 0 0 Others* 11,878 — 19 — Total ¥ 12,647 — ¥ 19 — Three months ended December 31, 2021 Three months ended December 31, 2022 Amount (Millions of yen) The number of Amount (Millions of yen) The number of Write-downs due to decline in estimated future cash flows: Office buildings ¥ 0 0 ¥ 1,535 2 Condominiums 2 3 0 0 Others* 2,331 — 0 — Total ¥ 2,333 — ¥ 1,535 — * For “Others,” the number of properties is omitted. In addition, write-downs of other long-lived assets for the three months ended December 31, 2021 include write-downs of ¥11,641 million of property under facility operations and others held by a subsidiary and ¥2,331 million of two aircrafts. |
Per Share Data (Tables)
Per Share Data (Tables) | 9 Months Ended |
Dec. 31, 2022 | |
Earnings Per Share [Abstract] | |
Reconciliation of Differences Between Basic and Diluted Earnings Per Share (EPS) | During the nine and three months ended December 31, 2021 and 2022, there was no stock compensation which was antidilutive. Millions of yen Nine months ended December 31, 2021 Nine months ended December 31, 2022 Net Income attributable to ORIX Corporation shareholders ¥ 211,341 ¥ 211,388 Millions of yen Three months ended December 31, 2021 Three months ended December 31, 2022 Net Income attributable to ORIX Corporation shareholders ¥ 64,659 ¥ 89,612 Thousands of Shares Nine months ended December 31, 2021 Nine months ended December 31, 2022 Weighted-average shares 1,206,467 1,183,372 Effect of dilutive securities— Stock compensation 1,324 1,488 Weighted-average shares for diluted EPS computation 1,207,791 1,184,860 Thousands of Shares Three months ended December 31, 2021 Three months ended December 31, 2022 Weighted-average shares 1,197,290 1,174,396 Effect of dilutive securities— Stock compensation 1,422 1,572 Weighted-average shares for diluted EPS computation 1,198,712 1,175,968 Yen Nine months ended December 31, 2021 Nine months ended December 31, 2022 Earnings per share for net income attributable to ORIX Corporation shareholders: Basic ¥ 175.17 ¥ 178.63 Diluted 174.98 178.41 Yen Three months ended December 31, 2021 Three months ended December 31, 2022 Earnings per share for net income attributable to ORIX Corporation shareholders: Basic ¥ 54.00 ¥ 76.30 Diluted 53.94 76.20 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. (2,147,048 and 2,405,482 |
Derivative Financial Instrume_2
Derivative Financial Instruments and Hedging (Tables) | 9 Months Ended |
Dec. 31, 2022 | |
Derivative Instruments, Gain (Loss) [Line Items] | |
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, Fair value hedges Millions of yen Gains (losses) recognized in income Life insurance premiums and related Interest expense Other (income) and expense Foreign exchange contracts ¥ (1,072 ) ¥ 6 ¥ 0 Options held/written and other 0 0 22 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 and related Interest expense Other (income) and expense Foreign exchange contracts ¥ (375 ) ¥ 4 ¥ 0 Options held/written and other 0 0 8 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 (excluding the effect of changes in foreign exchange rates) 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 The cumulative Consolidated balance sheets location Carrying The cumulative Investment in Securities ¥ 422,938 ¥ 1,147 — — — Installment Loans 28,836 55 — — — 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 and related Interest expense Other (income) and expense Foreign exchange contracts ¥ (7,104 ) ¥ 17 ¥ 0 Options held/written and other 0 0 41 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 and related Interest expense Other (income) and expense Foreign exchange contracts ¥ (5,630 ) ¥ 3 ¥ 0 Options held/written and other 0 0 14 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 (excluding the effect of changes in foreign exchange rates) at December 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 The cumulative Consolidated balance sheets location Carrying The cumulative Investment in Securities ¥ 443,892 ¥ (1,553 ) — ¥ 0 ¥ 0 Installment Loans 13,977 1 — 0 0 |
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, 2022 and December 31, 2022 are as follows. March 31, 2022 Derivative assets Derivative liabilities Notional amount Fair value Consolidated balance sheets location Fair value Consolidated balance sheets location Millions of yen Millions of yen Millions of yen Derivatives designated as hedging instruments and other: Interest rate swap agreements ¥ 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. December 31, 2022 Derivative assets Derivative liabilities Notional amount Fair value Consolidated balance sheets location Fair value Consolidated balance sheets location Millions of yen Millions of yen Millions of yen Derivatives designated as hedging instruments and other: Interest rate swap agreements ¥ 495,902 ¥ 25,840 Other Assets ¥ 1,384 Other Liabilities Options held/written and other 791 18 Other Assets 0 — Futures, foreign exchange contracts 996,909 31,829 Other Assets 11,029 Other Liabilities Foreign currency swap agreements 100,321 561 Other Assets 4,070 Other Liabilities Foreign currency long-term debt 740,123 0 — 0 — Derivatives not designated as hedging instruments: Interest rate swap agreements ¥ 425 ¥ 0 — ¥ 5 Other Liabilities Options held/written and other 571,465 39,592 Other Assets 36,858 Other Liabilities Futures, foreign exchange contracts * 691,570 21,953 Other Assets 6,425 Other Liabilities Credit derivatives written 1,000 0 — 4 Other Liabilities * The notional amounts of futures and foreign exchange contracts in the above table include futures contracts of ¥16,309 million and foreign exchange contracts of ¥5,305 million to economically hedge the minimum guarantee risk of variable annuity and variable life insurance contracts at December 31, 2022, respectively. Derivative assets in the above table include fair value of the futures and foreign exchange contracts before offsetting of ¥416 million and ¥308 million and derivative liabilities include fair value of futures and foreign exchange contracts before offsetting of ¥2 million and ¥15 million at December 31, 2022, respectively. |
Credit Derivatives | The Company and its subsidiaries have contracted credit derivatives for the purpose of trading. Details of credit derivatives written as of December 31, 2022 are as follows and there are no credit derivatives written as of March 31, 2022. Types of derivatives The events or circumstances Maximum potential Approximate Fair value of Millions of yen Millions of yen Credit default swap In case of credit event (bankruptcy, failure to pay, restructuring) occurring in underlying refence company * ¥ 1,000 Less than five years ¥ (4 ) * Underlying reference company’s credit ratings are A1 or better rated by rating agencies as of December 31, 2022. |
Cash flow hedges | |
Derivative Instruments, Gain (Loss) [Line Items] | |
Effect of Derivative Instruments on Consolidated Statements of Income, Pre-tax | (1) Cash flow hedges Millions of yen Gains (losses) recognized in other comprehensive income on derivative Gains (losses) reclassified from other comprehensive income (loss) into income Interest expense Other (income) and expense Interest rate swap agreements ¥ 4,541 ¥ 1,338 ¥ 0 Foreign exchange contracts (311 ) (269 ) 516 Foreign currency swap agreements 1,360 413 (281 ) Millions of yen Gains (losses) recognized in other comprehensive income on derivative Gains (losses) reclassified from other comprehensive income (loss) into income Interest expense Other (income) and expense Interest rate swap agreements ¥ 27,068 ¥ 134 ¥ 0 Foreign exchange contracts (177 ) (896 ) 896 Foreign currency swap agreements 1,385 563 (2,079 ) Millions of yen Gains (losses) recognized in other comprehensive income on derivative Gains (losses) reclassified from other comprehensive income (loss) into income Interest expense Other (income) and expense Interest rate swap agreements ¥ 3,391 ¥ 796 ¥ 0 Foreign exchange contracts (140 ) (215 ) 338 Foreign currency swap agreements 1,927 123 (1,740 ) Millions of yen Gains (losses) recognized in other comprehensive income on derivative Gains (losses) reclassified from other comprehensive income (loss) into income Interest expense Other (income) and Interest rate swap agreements ¥ 4,562 ¥ (23 ) ¥ 0 Foreign exchange contracts (5 ) (913 ) 749 Foreign currency swap agreements 1,930 261 (3,341 ) |
Fair value hedges | |
Derivative Instruments, Gain (Loss) [Line Items] | |
Effect of Derivative Instruments on Consolidated Statements of Income, Pre-tax | (2) Fair value hedges Millions of yen Gains (losses) recognized in income on derivative and other Gains (losses) recognized in income on hedged item Life insurance premiums Other (income) and Life insurance premiums Other (income) and Interest rate swap agreements ¥ 127 ¥ 0 ¥ (17 ) ¥ 0 Foreign exchange contracts (13,879 ) 132 13,861 (46 ) Millions of yen Gains (losses) recognized in income on derivative and other Gains (losses) recognized in income on hedged item Life insurance premiums Other (income) and Life insurance premiums Other (income) and Interest rate swap agreements ¥ 2,934 ¥ 0 ¥ (2,815 ) ¥ 0 Foreign exchange contracts (39,442 ) (231 ) 39,513 178 Millions of yen Gains (losses) recognized in income on derivative and other Gains (losses) recognized in income on hedged item Life insurance premiums and related investment Other (income) and Life insurance premiums Other (income) and Interest rate swap agreements ¥ 1,048 ¥ 0 ¥ (1,048 ) ¥ 0 Foreign exchange contracts (9,252 ) 34 9,194 29 Millions of yen Gains (losses) recognized in income on derivative and other Gains (losses) recognized in income on hedged item Life insurance premiums Other (income) and Life insurance premiums Other (income) and Interest rate swap agreements ¥ (239 ) ¥ 0 ¥ 243 ¥ 0 Foreign exchange contracts 39,225 218 (39,304 ) (221 ) |
Hedges of net investment in foreign operations | |
Derivative Instruments, Gain (Loss) [Line Items] | |
Effect of Derivative Instruments on Consolidated Statements of Income, Pre-tax | (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 Foreign exchange contracts ¥ (7,127 ) ¥ (104 ) ¥ 1,147 ¥ 5 Borrowings and bonds in foreign currencies (22,868 ) 0 0 0 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 Foreign exchange contracts ¥ (13,498 ) ¥ (7,309 ) ¥ 4,218 ¥ (252 ) Borrowings and bonds in foreign currencies (60,048 ) 0 0 0 Millions of yen Gains (losses) recognized in other comprehensive income on derivative and others Gains (losses) reclassified from other comprehensive income (loss) into income Interest expense Foreign exchange contracts ¥ (6,583 ) ¥ 358 Borrowings and bonds in foreign currencies (16,469 ) 0 Millions of yen Gains (losses) recognized in income on derivative and others Gains (losses) reclassified from other comprehensive income (loss) into income Gains on sales of Interest expense Foreign exchange contracts ¥ 11,097 ¥ (7,360 ) ¥ 2,262 Borrowings and bonds in foreign currencies 62,691 0 0 |
Nondesignated | |
Derivative Instruments, Gain (Loss) [Line Items] | |
Effect of Derivative Instruments on Consolidated Statements of Income, Pre-tax | (4) Derivatives not designated as hedging instruments Millions of yen Gains (losses) recognized in income on derivative Life insurance premiums and Interest expense Other (income) and Interest rate swap agreements ¥ 0 ¥ 4 ¥ (21 ) Futures (1,206 ) 0 1,401 Foreign exchange contracts 8,486 950 13,484 Credit derivatives held 0 0 (1 ) Options held/written and other 0 0 (1,267 ) * 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 the nine months ended December 31, 2021 (see Note 17 “Life Insurance Operations”). Millions of yen Gains (losses) recognized in income on derivative Life insurance premiums and Interest expense Other (income) and Interest rate swap agreements ¥ 0 ¥ 4 ¥ (209 ) Futures 200 0 (2,455 ) Foreign exchange contracts 18,223 3,075 45,954 Credit derivatives written 0 0 4 Options held/written and other 0 0 2,021 * Futures and foreign exchange contracts in the above table include gains (losses) arising from futures and foreign exchange contracts to economically hedge the minimum guarantee risk of variable annuity and variable life insurance contracts for the nine months ended December 31, 2022 (see Note 17 “Life Insurance Operations”). Millions of yen Gains (losses) recognized in income on derivative Life insurance premiums and Interest expense Other (income) and Interest rate swap agreements ¥ 0 ¥ 1 ¥ 0 Futures (83 ) 0 668 Foreign exchange contracts 4,740 232 11,069 Options held/written and other 0 0 (2,026 ) * 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 the three months ended December 31, 2021 (see Note 17 “Life Insurance Operations”). Millions of yen Gains (losses) recognized in income on derivative Life insurance premiums and Interest expense Other (income) and Interest rate swap agreements ¥ 0 ¥ 1 ¥ (70 ) Futures (652 ) 0 1,650 Foreign exchange contracts (16,249 ) 1,125 (5,635 Credit derivatives written 0 0 0 Options held/written and other 0 0 2,907 * Futures and foreign exchange contracts in the above table include gains (losses) arising from futures and foreign exchange contracts to economically hedge the minimum guarantee risk of variable annuity and variable life insurance contracts for the three months ended December 31, 2022 (see Note 17 “Life Insurance Operations”). |
Offsetting Assets and Liabili_2
Offsetting Assets and Liabilities (Tables) | 9 Months Ended |
Dec. 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, 2022 and December 31, 2022 are as follows. March 31, 2022 Millions of yen Gross amounts recognized Gross amounts offset in the consolidated balance sheets Net amounts presented in the consolidated balance sheets Gross amounts not offset in the consolidated balance sheets * Net amount Financial instruments Collateral received/pledged Derivative assets ¥ 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 December 31, 2022 Millions of yen Gross amounts recognized Gross amounts offset in the balance sheets Net amounts presented in the consolidated balance sheets Gross amounts not offset in the consolidated balance sheets * Net amount Financial instruments Collateral received/pledged Derivative assets ¥ 119,793 ¥ (16,464 ) ¥ 103,329 ¥ 0 ¥ (24,334 ) ¥ 78,995 Total assets ¥ 119,793 ¥ (16,464 ) ¥ 103,329 ¥ 0 ¥ (24,334 ) ¥ 78,995 Derivative liabilities ¥ 59,775 ¥ (16,464 ) ¥ 43,311 ¥ 0 ¥ 0 ¥ 43,311 Total liabilities ¥ 59,775 ¥ (16,464 ) ¥ 43,311 ¥ 0 ¥ 0 ¥ 43,311 * The balances related to enforceable master netting agreements or similar agreements which were not offset in the consolidated balance sheets. |
Estimated Fair Value of Finan_2
Estimated Fair Value of Financial Instruments (Tables) | 9 Months Ended |
Dec. 31, 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, 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 3 “Fair Value Measurements.” December 31, 2022 Millions of yen Carrying amount Estimated fair value Level 1 Level 2 Level 3 Assets: Cash and cash equivalents ¥ 951,148 ¥ 951,148 ¥ 951,148 ¥ 0 ¥ 0 Restricted cash 115,870 115,870 115,870 0 0 Installment loans (net of allowance for credit losses) 3,868,533 3,835,656 0 120,242 3,715,414 Equity securities*1 355,370 355,370 100,108 127,944 127,318 Trading debt securities 2,968 2,968 0 2,968 0 Available-for-sale 2,107,359 2,107,359 5,087 1,899,591 202,681 Held-to-maturity 114,757 126,304 0 106,038 20,266 Other Assets: Time deposits 5,241 5,241 0 5,241 0 Derivative assets*2 103,329 103,329 0 0 0 Reinsurance recoverables (Investment contracts) 5,556 5,161 0 0 5,161 Liabilities: Short-term debt ¥ 445,537 ¥ 445,537 ¥ 0 ¥ 445,537 ¥ 0 Deposits 2,139,416 2,140,125 0 2,140,125 0 Policy liabilities and Policy account balances (Investment contracts) 150,004 149,656 0 0 149,656 Long-term debt 4,759,717 4,704,252 0 1,619,619 3,084,633 Other Liabilities: Derivative liabilities*2 43,311 43,311 0 0 0 *1 The amount of ¥46,085 million of investment funds measured at net asset value per share is not included. *2 It represents the amount after offset under counterparty netting of derivative assets and liabilities. For the information of input level before netting, see Note 3 “Fair Value Measurements.” |
Commitments, Guarantees and C_2
Commitments, Guarantees and Contingent Liabilities (Tables) | 9 Months Ended |
Dec. 31, 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 and December 31, 2022, the amounts due are as follows: Millions of yen March 31, December 31, Within one year ¥ 5,205 ¥ 5,984 More than one year 5,569 7,688 Total ¥ 10,774 ¥ 13,672 |
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, 2022 and December 31, 2022: March 31, 2022 December 31, 2022 Millions of yen Fiscal year Millions of yen Fiscal year Guarantees Potential future payment Book value of guarantee liabilities Maturity of the longest contract Potential future payment Book value of guarantee liabilities Maturity of the longest contract Corporate loans ¥ 436,414 ¥ 4,895 2027 ¥ 479,687 ¥ 5,061 2028 Transferred loans 417,587 4,103 2062 438,392 2,781 2062 Consumer loans 284,891 47,461 2033 290,057 48,462 2033 Real estate loans 12,087 3,953 2048 6,589 2,075 2048 Other 2,294 46 2035 2,486 0 2036 Total ¥ 1,153,273 ¥ 60,458 — ¥ 1,217,211 ¥ 58,379 — |
Assets Provided as Collateral for Short-Term and Long-Term Debt Payables to Financial Institutions | Collateral— Millions of yen March 31, 2022 December 31, 2022 Lease payments, loans and investment in operating leases ¥ 106,699 ¥ 111,694 Investment in securities 175,912 173,845 Property under facility operations 112,730 125,676 Other assets and other 27,784 69,098 Total ¥ 423,125 ¥ 480,313 |
Segment Information (Tables)
Segment Information (Tables) | 9 Months Ended |
Dec. 31, 2022 | |
Segment Reporting [Abstract] | |
Financial Information of Segments | Financial information of the segments for the nine months ended December 31, 2021 and 2022, and segment assets information as of March 31, 2022 and December 31, 2022 are as follows: Millions of yen Nine months ended December 31, 2021 Nine months ended December 31, 2022 March 31, 2022 December 31, Segment revenues Segment profits Segment revenues Segment profits Segment assets Segment assets Corporate Financial Services and Maintenance Leasing ¥ 337,945 ¥ 61,871 ¥ 321,647 ¥ 56,444 ¥ 1,516,795 ¥ 1,515,425 Real Estate 294,257 26,629 288,293 24,486 910,101 946,145 PE Investment and Concession 281,009 (10,570 ) 312,090 6,713 353,581 340,764 Environment and Energy 107,167 18,332 168,419 34,140 703,608 761,789 Insurance 352,192 44,669 360,085 24,010 2,072,145 1,944,773 Banking and Credit 65,019 32,599 62,324 24,868 2,687,156 2,727,982 Aircraft and Ships 29,305 2,841 42,369 17,007 684,098 695,819 ORIX USA 122,697 67,433 135,261 33,032 1,364,142 1,454,653 ORIX Europe 171,017 55,987 157,653 35,893 401,869 404,920 Asia and Australia 108,878 35,108 142,719 34,071 1,306,089 1,394,435 Total ¥ 1,869,486 ¥ 334,899 ¥ 1,990,860 ¥ 290,664 ¥ 11,999,584 ¥ 12,186,705 Financial information of the segments for the three months ended December 31, 2021 and 2022 are as follows: Millions of yen Three months ended December 31, 2021 Three months ended December 31, 2022 Segment revenues Segment profits Segment revenues Segment profits Corporate Financial Services and Maintenance Leasing ¥ 107,670 ¥ 15,608 ¥ 110,220 ¥ 20,962 Real Estate 91,743 3,598 97,806 5,537 PE Investment and Concession 88,859 (12,184 ) 61,217 2,808 Environment and Energy 43,269 8,830 57,505 23,558 Insurance 117,104 12,347 94,215 11,003 Banking and Credit 21,922 11,690 21,380 9,653 Aircraft and Ships 11,557 2,472 13,873 6,358 ORIX USA 37,709 20,339 55,329 11,436 ORIX Europe 69,913 27,529 67,817 19,474 Asia and Australia 37,173 15,166 50,285 9,923 Total ¥ 626,919 ¥ 105,395 ¥ 629,647 ¥ 120,712 |
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 Nine months ended Nine months ended Segment revenues: Total revenues for segments ¥ 1,869,486 ¥ 1,990,860 Revenues related to corporate assets 12,998 19,000 Revenues from inter-segment transactions (14,371 ) (15,016 ) Total consolidated revenues ¥ 1,868,113 ¥ 1,994,844 Segment profits: Total profits for segments ¥ 334,899 ¥ 290,664 Corporate profits (losses) (22,719 ) (13,483 ) Net income attributable to the noncontrolling interests and net income attributable to the redeemable noncontrolling interests 4,509 6,292 Total consolidated income before income taxes ¥ 316,689 ¥ 283,473 Millions of yen Three months ended Three months ended Segment revenues: Total revenues for segments ¥ 626,919 ¥ 629,647 Revenues related to corporate assets 4,418 6,348 Revenues from inter-segment transactions (4,758 ) (5,967 ) Total consolidated revenues ¥ 626,579 ¥ 630,028 Segment profits: Total profits for segments ¥ 105,395 ¥ 120,712 Corporate profits (losses) (7,785 ) (3,307 ) Net income attributable to the noncontrolling interests and net income attributable to the redeemable noncontrolling interests (1,710 ) 1,722 Total consolidated income before income taxes ¥ 95,900 ¥ 119,127 Millions of yen March 31, 2022 December 31, 2022 Segment assets: Total assets for segments ¥ 11,999,584 ¥ 12,186,705 Cash and cash equivalents, restricted cash 1,091,812 1,067,018 Allowance for credit losses (69,459 ) (68,815 ) Trade notes, accounts and other receivable 359,949 369,666 Other corporate assets 888,786 999,316 Total consolidated assets ¥ 14,270,672 ¥ 14,553,890 |
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 for the nine months ended December 31, 2021 and 2022. For the nine months ended December 31, 2021 Millions of yen Nine months ended December 31, 2021 Japan The Americas *1 Other *2 Total Total Revenues ¥ 1,434,244 ¥ 184,614 ¥ 249,255 ¥ 1,868,113 Income before Income Taxes 146,839 84,667 85,183 316,689 For the nine months ended December 31, 2022 Millions of yen Nine months ended December 31, 2022 Japan The Americas *1 Other *2 Total Total Revenues ¥ 1,503,642 ¥ 189,964 ¥ 301,238 ¥ 1,994,844 Income before Income Taxes 136,597 55,273 91,603 283,473 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 for the three months ended December 31, 2021 and 2022. For the three months ended December 31, 2021 Millions of yen Three months ended December 31, 2021 Japan The Americas *1 Other *2 Total Total Revenues ¥ 470,052 ¥ 60,927 ¥ 95,600 ¥ 626,579 Income before Income Taxes 27,914 24,610 43,376 95,900 For the three months ended December 31, 2022 Millions of yen Three months ended December 31, 2022 Japan The Americas *1 Other *2 Total Total Revenues ¥ 438,376 ¥ 80,572 ¥ 111,080 ¥ 630,028 Income before Income Taxes 50,913 30,357 37,857 119,127 *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 and services category and geographical location for the nine months ended December 31, 2021 and 2022. For the nine months ended December 31, 2021 Millions of yen Nine months ended December 31, 2021 Reportable segments Corporate Real Estate PE Environment Insurance Banking and Aircraft and Goods or services category Sales of goods ¥ 7,691 ¥ 2,013 ¥ 233,064 ¥ 2,668 ¥ 0 ¥ 0 ¥ 0 Real estate sales 0 75,077 0 0 0 0 0 Asset management and servicing 243 4,544 16 14 0 228 25 Automobile related services 47,562 0 0 160 0 0 0 Facilities operation 0 23,674 0 0 0 0 0 Environment and energy services 2,220 0 66 102,815 0 0 0 Real estate management and brokerage 0 77,346 0 0 0 0 0 Real estate contract work 0 65,516 0 0 0 0 0 Other 39,670 1,035 20,841 730 1,497 4,458 5,831 Total revenues from contracts with customers 97,386 249,205 253,987 106,387 1,497 4,686 5,856 Geographical location Japan 96,919 249,205 253,987 104,740 1,497 4,686 3,539 The Americas 0 0 0 0 0 0 0 Other 467 0 0 1,647 0 0 2,317 Total revenues from contracts with customers 97,386 249,205 253,987 106,387 1,497 4,686 5,856 Other revenues * 240,559 45,052 27,022 780 350,695 60,333 23,449 Segment revenues/Total revenues ¥ 337,945 ¥ 294,257 ¥ 281,009 ¥ 107,167 ¥ 352,192 ¥ 65,019 ¥ 29,305 Millions of yen Nine months ended December 31, 2021 Reportable segments Corporate revenue and intersegment transactions Total revenues ORIX USA ORIX Europe Asia and Total Goods or services category Sales of goods ¥ 1,706 ¥ 0 ¥ 375 ¥ 247,517 ¥ 1,251 ¥ 248,768 Real estate sales 73 0 0 75,150 0 75,150 Asset management and servicing 13,695 167,185 0 185,950 (45 ) 185,905 Automobile related services 0 0 9,974 57,696 10 57,706 Facilities operation 0 0 0 23,674 572 24,246 Environment and energy services 954 0 0 106,055 (1,488 ) 104,567 Real estate management and brokerage 0 0 0 77,346 (1,943 ) 75,403 Real estate contract work 0 0 0 65,516 (155 ) 65,361 Other 3,008 57 607 77,734 1,936 79,670 Total revenues from contracts with customers 19,436 167,242 10,956 916,638 138 916,776 Geographical location Japan 0 0 0 714,573 218 714,791 The Americas 19,436 59,276 0 78,712 0 78,712 Other 0 107,966 10,956 123,353 (80 ) 123,273 Total revenues from contracts with customers 19,436 167,242 10,956 916,638 138 916,776 Other revenues * 103,261 3,775 97,922 952,848 (1,511 ) 951,337 Segment revenues/Total revenues ¥ 122,697 ¥ 171,017 ¥ 108,878 ¥ 1,869,486 ¥ (1,373 ) ¥ 1,868,113 For the nine months ended December 31, 2022 Millions of yen Nine months ended December 31, 2022 Reportable segments Corporate Real Estate PE Environment Insurance Banking and Aircraft and Goods or services category Sales of goods ¥ 3,909 ¥ 2,260 ¥ 246,164 ¥ 2,964 ¥ 0 ¥ 0 ¥ 0 Real estate sales 0 56,548 0 0 0 0 0 Asset management and servicing 238 6,076 0 145 0 347 51 Automobile related services 47,571 0 0 210 0 0 0 Facilities operation 0 40,257 0 0 0 0 0 Environment and energy services 2,367 34 65 161,573 0 0 0 Real estate management and brokerage 0 75,219 0 0 0 0 0 Real estate contract work 0 66,834 13,230 0 0 0 0 Other 29,166 996 23,344 651 1,948 5,010 8,402 Total revenues from contracts with customers 83,251 248,224 282,803 165,543 1,948 5,357 8,453 Geographical location Japan 83,251 248,224 282,803 148,401 1,948 5,357 2,930 The Americas 0 0 0 0 0 0 0 Other 0 0 0 17,142 0 0 5,523 Total revenues from contracts with customers 83,251 248,224 282,803 165,543 1,948 5,357 8,453 Other revenues * 238,396 40,069 29,287 2,876 358,137 56,967 33,916 Segment revenues/Total revenues ¥ 321,647 ¥ 288,293 ¥ 312,090 ¥ 168,419 ¥ 360,085 ¥ 62,324 ¥ 42,369 Millions of yen Nine months ended December 31, 2022 Reportable segments Corporate revenue and intersegment transactions Total revenues ORIX USA ORIX Europe Asia and Total Goods or services category Sales of goods ¥ 1,926 ¥ 0 ¥ 1,314 ¥ 258,537 ¥ 1,883 ¥ 260,420 Real estate sales 11 0 0 56,559 0 56,559 Asset management and servicing 15,977 160,636 3 183,473 (206 ) 183,267 Automobile related services 0 0 13,874 61,655 2 61,657 Facilities operation 0 0 0 40,257 623 40,880 Environment and energy services 1,184 0 0 165,223 (1,441 ) 163,782 Real estate management and brokerage 0 0 0 75,219 (1,136 ) 74,083 Real estate contract work 0 0 0 80,064 (73 ) 79,991 Other 5,406 95 1,392 76,410 3,075 79,485 Total revenues from contracts with customers 24,504 160,731 16,583 997,397 2,727 1,000,124 Geographical location Japan 0 0 0 772,914 3,746 776,660 The Americas 24,504 56,648 0 81,152 0 81,152 Other 0 104,083 16,583 143,331 (1,019 ) 142,312 Total revenues from contracts with customers 24,504 160,731 16,583 997,397 2,727 1,000,124 Other revenues * 110,757 (3,078 ) 126,136 993,463 1,257 994,720 Segment revenues/Total revenues ¥ 135,261 ¥ 157,653 ¥ 142,719 ¥ 1,990,860 ¥ 3,984 ¥ 1,994,844 The following information represents disaggregation of revenues for revenues from contracts with customers, by goods and services category and geographical location for the three months ended December 31, 2021 and 2022. For the three months ended December 31, 2021 Millions of yen Three months ended December 31, 2021 Reportable segments Corporate Real Estate PE Environment Insurance Banking and Aircraft and Goods or services category Sales of goods ¥ 2,179 ¥ 567 ¥ 71,958 ¥ 980 ¥ 0 ¥ 0 ¥ 0 Real estate sales 0 15,967 0 0 0 0 0 Asset management and servicing 83 1,427 4 14 0 83 10 Automobile related services 16,230 0 0 59 0 0 0 Facilities operation 0 10,670 0 0 0 0 0 Environment and energy services 659 0 22 41,649 0 0 0 Real estate management and brokerage 0 25,661 0 0 0 0 0 Real estate contract work 0 26,145 0 0 0 0 0 Other 13,793 318 7,211 298 495 1,636 2,674 Total revenues from contracts with customers 32,944 80,755 79,195 43,000 495 1,719 2,684 Geographical location Japan 32,944 80,755 79,195 41,353 495 1,719 1,359 The Americas 0 0 0 0 0 0 0 Other 0 0 0 1,647 0 0 1,325 Total revenues from contracts with customers 32,944 80,755 79,195 43,000 495 1,719 2,684 Other revenues * 74,726 10,988 9,664 269 116,609 20,203 8,873 Segment revenues/Total revenues ¥ 107,670 ¥ 91,743 ¥ 88,859 ¥ 43,269 ¥ 117,104 ¥ 21,922 ¥ 11,557 Millions of yen Three months ended December 31, 2021 Reportable segments Corporate revenue and intersegment transactions Total revenues ORIX USA ORIX Europe Asia and Total Goods or services category Sales of goods ¥ 640 ¥ 0 ¥ 347 ¥ 76,671 ¥ 619 ¥ 77,290 Real estate sales 6 0 0 15,973 0 15,973 Asset management and servicing 5,889 67,947 0 75,457 (14 ) 75,443 Automobile related services 0 0 3,603 19,892 16 19,908 Facilities operation 0 0 0 10,670 264 10,934 Environment and energy services 273 0 0 42,603 (474 ) 42,129 Real estate management and brokerage 0 0 0 25,661 (463 ) 25,198 Real estate contract work 0 0 0 26,145 (47 ) 26,098 Other 1,706 19 211 28,361 331 28,692 Total revenues from contracts with customers 8,514 67,966 4,161 321,433 232 321,665 Geographical location Japan 0 0 0 237,820 290 238,110 The Americas 8,514 21,689 0 30,203 0 30,203 Other 0 46,277 4,161 53,410 (58 ) 53,352 Total revenues from contracts with customers 8,514 67,966 4,161 321,433 232 321,665 Other revenues * 29,195 1,947 33,012 305,486 (572 ) 304,914 Segment revenues/Total revenues ¥ 37,709 ¥ 69,913 ¥ 37,173 ¥ 626,919 ¥ (340 ) ¥ 626,579 For the three months ended December 31, 2022 Millions of yen Three months ended December 31, 2022 Reportable segments Corporate Real Estate PE Environment Insurance Banking and Aircraft and Goods or services category Sales of goods ¥ 1,105 ¥ 814 ¥ 29,484 ¥ 1,132 ¥ 0 ¥ 0 ¥ 0 Real estate sales 0 17,484 0 0 0 0 0 Asset management and servicing 77 2,903 0 9 0 124 17 Automobile related services 16,652 0 0 59 0 0 0 Facilities operation 0 15,648 0 0 0 0 0 Environment and energy services 618 10 25 54,478 0 0 0 Real estate management and brokerage 0 25,116 0 0 0 0 0 Real estate contract work 0 25,922 13,230 0 0 0 0 Other 10,396 217 7,813 113 660 1,736 3,342 Total revenues from contracts with customers 28,848 88,114 50,552 55,791 660 1,860 3,359 Geographical location Japan 28,848 88,114 50,552 49,266 660 1,860 1,491 The Americas 0 0 0 0 0 0 0 Other 0 0 0 6,525 0 0 1,868 Total revenues from contracts with customers 28,848 88,114 50,552 55,791 660 1,860 3,359 Other revenues * 81,372 9,692 10,665 1,714 93,555 19,520 10,514 Segment revenues/Total revenues ¥ 110,220 ¥ 97,806 ¥ 61,217 ¥ 57,505 ¥ 94,215 ¥ 21,380 ¥ 13,873 Millions of yen Three months ended December 31, 2022 Reportable segments Corporate revenue and intersegment transactions Total revenues ORIX USA ORIX Europe Asia and Total Goods or services category Sales of goods ¥ 659 ¥ 0 ¥ 656 ¥ 33,850 ¥ 623 ¥ 34,473 Real estate sales 2 0 0 17,486 0 17,486 Asset management and servicing 5,751 62,263 3 71,147 (187 ) 70,960 Automobile related services 0 0 4,939 21,650 1 21,651 Facilities operation 0 0 0 15,648 235 15,883 Environment and energy services 270 0 0 55,401 (488 ) 54,913 Real estate management and brokerage 0 0 0 25,116 (386 ) 24,730 Real estate contract work 0 0 0 39,152 (94 ) 39,058 Other 2,613 54 323 27,267 104 27,371 Total revenues from contracts with customers 9,295 62,317 5,921 306,717 (192 ) 306,525 Geographical location Japan 0 0 0 220,791 489 221,280 The Americas 9,295 19,954 0 29,249 0 29,249 Other 0 42,363 5,921 56,677 (681 ) 55,996 Total revenues from contracts with customers 9,295 62,317 5,921 306,717 (192 ) 306,525 Other revenues * 46,034 5,500 44,364 322,930 573 323,503 Segment revenues/Total revenues ¥ 55,329 ¥ 67,817 ¥ 50,285 ¥ 629,647 ¥ 381 ¥ 630,028 * Other revenues include revenues that are not in the scope of revenue from contracts with customers, such as life insurance premiums and related investment income, operating leases, finance revenues that include interest income, and others. |
Overview of Accounting Princi_2
Overview of Accounting Principles Utilized - Additional Information (Detail) | 9 Months Ended |
Dec. 31, 2022 | |
Goodwill | Maximum | |
Significant Accounting Policies [Line Items] | |
Goodwill amortization period | 20 years |
Significant Accounting and Re_3
Significant Accounting and Reporting Policies - Additional Information (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | Mar. 31, 2022 | |
Significant Accounting Policies [Line Items] | |||||
A maximum lag period of recognizing the results of subsidiaries and affiliates | 3 months | ||||
Effective tax rate | 23.60% | 34.30% | 23.60% | 31.90% | |
National corporation tax | 24% | 24% | 24% | 24% | |
Inhabitant tax | 4% | 4% | 4% | 4% | |
Deductible enterprise tax | 4% | 4% | 4% | 4% | |
Statutory income tax rate | 31.50% | 31.50% | 31.50% | 31.50% | |
Loans held for sale in installment loans | ¥ 186,472 | ¥ 186,472 | ¥ 155,680 | ||
Aggregate loan fair value | 182,700 | 182,700 | 151,601 | ||
Residential condominiums under development | 82,743 | 82,743 | 62,414 | ||
Finished goods | 63,167 | 63,167 | 77,149 | ||
Write-down on residential condominiums under development | 0 | ¥ 280 | 508 | ¥ 10,194 | |
Goodwill acquired | 516,252 | 516,252 | 488,856 | ||
Other intangible assets | 418,064 | 418,064 | 403,621 | ||
Investment in operating leases | |||||
Significant Accounting Policies [Line Items] | |||||
Accumulated depreciation of Investment in operating leases | 852,709 | 852,709 | 819,839 | ||
Property under Facility Operations | |||||
Significant Accounting Policies [Line Items] | |||||
Accumulated depreciation | 172,950 | 172,950 | 147,459 | ||
Office Facilities | |||||
Significant Accounting Policies [Line Items] | |||||
Accumulated depreciation | ¥ 75,578 | ¥ 75,578 | ¥ 73,063 | ||
Minimum | |||||
Significant Accounting Policies [Line Items] | |||||
Income tax settlement by tax authority | 50% |
Fair Value Measurements (Record
Fair Value Measurements (Recorded Amounts of Major Financial Assets and Liabilities Measured at Fair Value on Recurring Basis) (Detail) - JPY (¥) ¥ in Millions | Dec. 31, 2022 | Mar. 31, 2022 | |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Loans held for sale | ¥ 182,700 | ¥ 151,601 | |
Trading debt securities | 2,968 | 2,503 | |
Available-for-sale debt securities | 2,107,359 | 2,174,891 | |
Derivative assets, gross amounts recognized | 119,793 | 51,366 | |
Netting | (16,464) | (20,333) | |
Net derivative assets | 103,329 | 31,033 | |
Other assets | 5,138 | 5,214 | |
Derivative liabilities, gross amounts recognized | 59,775 | 105,705 | |
Netting | (16,464) | (20,333) | |
Net derivative Liabilities | 43,311 | 85,372 | |
Policy liabilities and Policy Account Balances | 162,958 | 198,905 | |
Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Loans held for sale | [1] | 182,700 | 151,601 |
Trading debt securities | 2,968 | 2,503 | |
Available-for-sale debt securities | 2,107,359 | 2,174,891 | |
Equity securities | [2],[3] | 355,370 | 385,271 |
Derivative assets, gross amounts recognized | 119,793 | 51,366 | |
Netting | [4] | (16,464) | (20,333) |
Net derivative assets | 103,329 | 31,033 | |
Other assets | 5,138 | 5,214 | |
Total financial assets | 2,773,328 | 2,770,846 | |
Derivative liabilities, gross amounts recognized | 59,775 | 105,705 | |
Netting | [4] | (16,464) | (20,333) |
Net derivative Liabilities | 43,311 | 85,372 | |
Policy liabilities and Policy Account Balances | 162,958 | 198,905 | |
Total financial liabilities | 222,733 | 304,610 | |
Interest rate swap agreements | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Derivative assets, gross amounts recognized | 25,840 | 9,570 | |
Derivative liabilities, gross amounts recognized | 1,389 | 8,182 | |
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 | 39,610 | 25,664 | |
Derivative liabilities, gross amounts recognized | 36,858 | 21,562 | |
Futures, foreign exchange contracts | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Derivative assets, gross amounts recognized | 53,782 | 16,006 | |
Derivative liabilities, gross amounts recognized | 17,454 | 71,443 | |
Foreign currency swap agreements | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Derivative assets, gross amounts recognized | 561 | 126 | |
Derivative liabilities, gross amounts recognized | 4,070 | 4,518 | |
Credit derivatives written | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Derivative liabilities, gross amounts recognized | 4 | ||
Reinsurance recoverables | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Other assets | 5,138 | 5,214 | |
Reinsurance recoverables | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Other assets | [5] | 5,138 | 5,214 |
Variable Annuity and Variable Life Insurance Contracts | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Policy liabilities and Policy Account Balances | 162,958 | 198,905 | |
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] | 162,958 | 198,905 |
Japanese and foreign government bond securities | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Available-for-sale debt securities | 746,085 | 832,613 | |
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] | 746,085 | 832,613 |
Japanese prefectural and foreign municipal bond securities | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Available-for-sale debt securities | 354,010 | 325,604 | |
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 | 354,010 | 325,604 | |
Corporate debt securities | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Available-for-sale debt securities | 772,155 | 849,560 | |
Corporate debt securities | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Available-for-sale debt securities | [8] | 772,155 | 849,560 |
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 | 40,942 | 28,732 | |
Other asset-backed securities and debt securities | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Available-for-sale debt securities | 194,167 | 138,382 | |
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 | 194,167 | 138,382 | |
Level 1 | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Trading debt securities | 0 | 0 | |
Available-for-sale debt securities | 5,087 | 1,095 | |
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 | 5,087 | 1,095 | |
Equity securities | [2],[3] | 100,108 | 112,200 |
Derivative assets, gross amounts recognized | 1,156 | 292 | |
Netting | [4] | 0 | 0 |
Net derivative assets | 0 | 0 | |
Other assets | 0 | 0 | |
Total financial assets | 106,351 | 113,587 | |
Derivative liabilities, gross amounts recognized | 380 | 2,026 | |
Netting | [4] | 0 | 0 |
Net derivative Liabilities | 0 | 0 | |
Policy liabilities and Policy Account Balances | 0 | 0 | |
Total financial liabilities | 380 | 2,026 | |
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 | 1,156 | 292 | |
Derivative liabilities, gross amounts recognized | 380 | 2,026 | |
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 written | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Derivative liabilities, gross amounts recognized | 0 | ||
Level 1 | Reinsurance recoverables | 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] | 3,800 | 1,095 |
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] | 1,287 | 0 |
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 | 2,968 | 2,503 | |
Available-for-sale debt securities | 1,899,591 | 2,032,736 | |
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] | 6,645 | 151,601 |
Trading debt securities | 2,968 | 2,503 | |
Available-for-sale debt securities | 1,899,591 | 2,032,736 | |
Equity securities | [2],[3] | 127,944 | 160,099 |
Derivative assets, gross amounts recognized | 111,607 | 46,214 | |
Netting | [4] | 0 | 0 |
Net derivative assets | 0 | 0 | |
Other assets | 0 | 0 | |
Total financial assets | 2,148,755 | 2,393,153 | |
Derivative liabilities, gross amounts recognized | 39,492 | 95,047 | |
Netting | [4] | 0 | 0 |
Net derivative Liabilities | 0 | 0 | |
Policy liabilities and Policy Account Balances | 0 | 0 | |
Total financial liabilities | 39,492 | 95,047 | |
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 | 25,840 | 9,570 | |
Derivative liabilities, gross amounts recognized | 1,389 | 8,182 | |
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 | 32,580 | 20,804 | |
Derivative liabilities, gross amounts recognized | 16,955 | 12,930 | |
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 | 52,626 | 15,714 | |
Derivative liabilities, gross amounts recognized | 17,074 | 69,417 | |
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 | 561 | 126 | |
Derivative liabilities, gross amounts recognized | 4,070 | 4,518 | |
Level 2 | Credit derivatives written | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Derivative liabilities, gross amounts recognized | 4 | ||
Level 2 | Reinsurance recoverables | 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] | 742,285 | 831,518 |
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 | 350,700 | 322,551 | |
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] | 764,687 | 848,863 |
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 | 40,942 | 28,732 | |
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 | 977 | 1,072 | |
Level 3 | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Trading debt securities | 0 | 0 | |
Available-for-sale debt securities | 202,681 | 141,060 | |
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] | 176,055 | 0 |
Trading debt securities | 0 | 0 | |
Available-for-sale debt securities | 202,681 | 141,060 | |
Equity securities | [2],[3] | 127,318 | 112,972 |
Derivative assets, gross amounts recognized | 7,030 | 4,860 | |
Netting | [4] | 0 | 0 |
Net derivative assets | 0 | 0 | |
Other assets | 5,138 | 5,214 | |
Total financial assets | 518,222 | 264,106 | |
Derivative liabilities, gross amounts recognized | 19,903 | 8,632 | |
Netting | [4] | 0 | 0 |
Net derivative Liabilities | 0 | 0 | |
Policy liabilities and Policy Account Balances | 162,958 | 198,905 | |
Total financial liabilities | 182,861 | 207,537 | |
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 | 7,030 | 4,860 | |
Derivative liabilities, gross amounts recognized | 19,903 | 8,632 | |
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 written | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Derivative liabilities, gross amounts recognized | 0 | ||
Level 3 | Reinsurance recoverables | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | |||
Other assets | [5] | 5,138 | 5,214 |
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] | 162,958 | 198,905 |
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 | 3,310 | 3,053 | |
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] | 6,181 | 697 |
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 | ¥ 193,190 | ¥ 137,310 | |
[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 ¥138 million and a loss of ¥3,664 million from the change in the fair value of the loans for the nine months ended December 31, 2021 and 2022, respectively. Included in “Other (income) and expense” in the consolidated statements of income were losses of ¥931 million and ¥156 million from the change in the fair value of the loans for the three months ended December 31, 2021 and 2022, respectively. No gains or losses were recognized in earnings during the nine months ended December 31, 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, 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. The amounts of aggregate unpaid principal balance and aggregate fair value of the loans held for sale as of December 31, 2022, were ¥186,546 million and ¥182,700 million, respectively, and the amount of the aggregate fair value was less than the amount of aggregate unpaid principal balance by ¥3,846 million. As of March 31, 2022 and December 31, 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 ¥786 million and ¥499 million from the change in the fair value of those investments for the nine months ended December 31, 2021 and 2022, respectively. Included in “Gains on investment securities and dividends” and “Life insurance premiums and related investment income” in the consolidated statements of income were a gain of ¥201 million and a loss of ¥47 million from the change in the fair value of those investments for the three months ended December 31, 2021 and 2022, respectively. The amounts of aggregate fair value elected the fair value option were ¥11,709 million and ¥15,002 million as of March 31, 2022 and December 31, 2022, respectively.[3]The amounts of investment funds measured at net asset value per share which are not included in the above tables were ¥25,999 million and ¥46,085 million as of March 31, 2022 and December 31, 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 ¥5,214 million and ¥5,138 million as of March 31, 2022 and December 31, 2022, respectively. For the effect of changes in the fair value of those reinsurance contracts on earnings during the nine and three months ended December 31, 2021 and 2022, see Note 17 “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 ¥198,905 million and ¥162,958 million as of March 31, 2022 and December 31, 2022, respectively. For the effect of changes in the fair value of the variable annuity and variable life insurance contracts on earnings during the nine and three months ended December 31, 2021 and 2022, see Note 17 “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 a gain of ¥51 million and a loss of ¥15 million from the change in the fair value of those investments for the nine months ended December 31, 2021 and 2022, respectively. There were no “Gains on investment securities and dividends” recorded in the consolidated statements of income from the change in the fair value of those investments for the three months ended December 31, 2021. Included in “Gains on investment securities and dividends” in the consolidated statements of income were a gain of ¥6 million from the change in the fair value of those investments for the three months ended December 31, 2022. There were no such investments elected the fair value option as of March 31, 2022. The amount of aggregate fair value elected the fair value option was ¥238 million as of December 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 a gain of ¥55 million and a loss of ¥705 million from the change in the fair value of those investments for the nine months ended December 31, 2021 and 2022, respectively. Included in “Gains on investment securities and dividends” in the consolidated statements of income were gains of ¥31 million and ¥272 million from the change in the fair value of those investments for the three months ended December 31, 2021 and 2022, respectively. The amounts of aggregate fair value elected the fair value option were ¥7,644 million and ¥10,074 million as of March 31, 2022 and December 31, 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 3 “Fair Value Measurements.” |
Fair Value Measurements (Reco_2
Fair Value Measurements (Recorded Amounts of Major Financial Assets and Liabilities Measured at Fair Value on Recurring Basis) (Parenthetical) (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | ||||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | Mar. 31, 2022 | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||||
Aggregate loan fair value | ¥ 182,700 | ¥ 182,700 | ¥ 151,601 | |||
Other assets | 5,138 | 5,138 | 5,214 | |||
Policy liabilities and Policy Account Balances | 162,958 | 162,958 | 198,905 | |||
Reinsurance Recoverable | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||||
Other assets | 5,138 | 5,138 | 5,214 | |||
Variable Annuity and Variable Life Insurance Contracts | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||||
Policy liabilities and Policy Account Balances | 162,958 | 162,958 | 198,905 | |||
Fair Value, Measurements, Recurring | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||||
Aggregate loan fair value | [1] | 182,700 | 182,700 | 151,601 | ||
Other assets | 5,138 | 5,138 | 5,214 | |||
Policy liabilities and Policy Account Balances | 162,958 | 162,958 | 198,905 | |||
Fair Value, Measurements, Recurring | Reinsurance Recoverable | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||||
Other assets | [2] | 5,138 | 5,138 | 5,214 | ||
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] | 162,958 | 162,958 | 198,905 | ||
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 | (156) | ¥ (931) | (3,664) | ¥ 138 | ||
Gains (losses) from changes in instrument-specific credit risk | 0 | 0 | ||||
Aggregate unpaid loan principal balance | 186,546 | 186,546 | 151,672 | |||
Aggregate loan fair value | 182,700 | 182,700 | 151,601 | |||
Amount by which aggregate fair value of loan exceeds aggregate unpaid principal balance | 3,846 | 3,846 | 71 | |||
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 | 6 | (15) | 51 | |||
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 | 238 | 238 | 0 | |||
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 | 272 | 31 | (705) | 55 | ||
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 | 10,074 | 10,074 | 7,644 | |||
Fair Value, Measurements, Recurring | Equity securities | ||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||||||
Gains (losses) from change in fair value | (47) | ¥ 201 | 499 | ¥ 786 | ||
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 | 15,002 | 15,002 | 11,709 | |||
Amounts investment funds measured at net asset value per share are not included in above tables | ¥ 46,085 | ¥ 46,085 | ¥ 25,999 | |||
[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 ¥138 million and a loss of ¥3,664 million from the change in the fair value of the loans for the nine months ended December 31, 2021 and 2022, respectively. Included in “Other (income) and expense” in the consolidated statements of income were losses of ¥931 million and ¥156 million from the change in the fair value of the loans for the three months ended December 31, 2021 and 2022, respectively. No gains or losses were recognized in earnings during the nine months ended December 31, 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, 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. The amounts of aggregate unpaid principal balance and aggregate fair value of the loans held for sale as of December 31, 2022, were ¥186,546 million and ¥182,700 million, respectively, and the amount of the aggregate fair value was less than the amount of aggregate unpaid principal balance by ¥3,846 million. As of March 31, 2022 and December 31, 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 ¥5,214 million and ¥5,138 million as of March 31, 2022 and December 31, 2022, respectively. For the effect of changes in the fair value of those reinsurance contracts on earnings during the nine and three months ended December 31, 2021 and 2022, see Note 17 “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 ¥198,905 million and ¥162,958 million as of March 31, 2022 and December 31, 2022, respectively. For the effect of changes in the fair value of the variable annuity and variable life insurance contracts on earnings during the nine and three months ended December 31, 2021 and 2022, see Note 17 “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 | 3 Months Ended | 9 Months Ended | |||||||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | ||||||
Loans held for sale | |||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||||
Beginning Balance, asset | ¥ 0 | ¥ 0 | |||||||
Gains or losses (realized/ unrealized), included in earnings, asset | [1] | 0 | 0 | ||||||
Gains or losses (realized/ unrealized), included in other comprehensive income, asset | [2] | 0 | 0 | ||||||
Gains or losses (realized/ unrealized), asset, total | 0 | 0 | |||||||
Purchases, asset | [3] | 0 | 0 | ||||||
Sales, asset | 0 | 0 | |||||||
Settlements, asset | [4] | 0 | 0 | ||||||
Transfers in and/or out of Level 3 (net), asset | 176,055 | 176,055 | |||||||
Ending Balance, asset | 176,055 | 176,055 | |||||||
Change in unrealized gains or losses included in earnings for assets and liabilities still held at the end of period | [1] | 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] | 0 | 0 | ||||||
Available-for-sale debt securities | |||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||||
Beginning Balance, asset | 195,005 | ¥ 137,236 | 141,060 | ¥ 133,457 | |||||
Gains or losses (realized/ unrealized), included in earnings, asset | [1] | (7,012) | 967 | 2,999 | 5,248 | ||||
Gains or losses (realized/ unrealized), included in other comprehensive income, asset | [2] | (5,644) | 1,827 | 67 | 3,654 | ||||
Gains or losses (realized/ unrealized), asset, total | (12,656) | 2,794 | 3,066 | 8,902 | |||||
Purchases, asset | [3] | 25,374 | 29,057 | 72,735 | 51,327 | ||||
Sales, asset | 0 | 0 | (5,678) | (7,485) | |||||
Settlements, asset | (5,042) | [4] | (30,902) | [4] | (8,502) | (48,016) | [4] | ||
Transfers in and/or out of Level 3 (net), asset | 0 | 0 | 0 | 0 | |||||
Ending Balance, asset | 202,681 | 138,185 | 202,681 | 138,185 | |||||
Change in unrealized gains or losses included in earnings for assets and liabilities still held at the end of period | (7,202) | [1] | 390 | [1] | 2,793 | [1] | 711 | [5] | |
Change in unrealized gains or losses included in other comprehensive income for assets and liabilities still held at the end of period | [2] | (5,659) | 1,873 | 431 | 3,777 | ||||
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 | 3,612 | 2,791 | 3,053 | 2,761 | |||||
Gains or losses (realized/ unrealized), included in earnings, asset | [1] | 0 | 0 | 0 | 0 | ||||
Gains or losses (realized/ unrealized), included in other comprehensive income, asset | [2] | (302) | 78 | 257 | 108 | ||||
Gains or losses (realized/ unrealized), asset, total | (302) | 78 | 257 | 108 | |||||
Purchases, asset | [3] | 0 | 0 | 0 | 0 | ||||
Sales, asset | 0 | 0 | 0 | 0 | |||||
Settlements, asset | [4] | 0 | 0 | 0 | 0 | ||||
Transfers in and/or out of Level 3 (net), asset | 0 | 0 | 0 | 0 | |||||
Ending Balance, asset | 3,310 | 2,869 | 3,310 | 2,869 | |||||
Change in unrealized gains or losses included in earnings for assets and liabilities still held at the end of period | 0 | [1] | 0 | [1] | 0 | [1] | 0 | [5] | |
Change in unrealized gains or losses included in other comprehensive income for assets and liabilities still held at the end of period | [2] | (302) | 78 | 257 | 108 | ||||
Available-for-sale debt securities | Corporate debt securities | |||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||||
Beginning Balance, asset | 350 | 809 | 697 | 1,021 | |||||
Gains or losses (realized/ unrealized), included in earnings, asset | [1] | (22) | 0 | (22) | 0 | ||||
Gains or losses (realized/ unrealized), included in other comprehensive income, asset | [2] | 1 | 0 | 0 | 0 | ||||
Gains or losses (realized/ unrealized), asset, total | (21) | 0 | (22) | 0 | |||||
Purchases, asset | [3] | 5,922 | 0 | 5,922 | 0 | ||||
Sales, asset | 0 | 0 | 0 | 0 | |||||
Settlements, asset | [4] | (70) | (70) | (416) | (282) | ||||
Transfers in and/or out of Level 3 (net), asset | 0 | 0 | 0 | 0 | |||||
Ending Balance, asset | 6,181 | 739 | 6,181 | 739 | |||||
Change in unrealized gains or losses included in earnings for assets and liabilities still held at the end of period | (55) | [1] | 0 | [1] | (55) | [1] | 0 | [5] | |
Change in unrealized gains or losses included in other comprehensive income for assets and liabilities still held at the end of period | [2] | 1 | 0 | 1 | 0 | ||||
Available-for-sale debt securities | Other asset-backed securities and debt securities | |||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||||
Beginning Balance, asset | 191,043 | 133,636 | 137,310 | 129,675 | |||||
Gains or losses (realized/ unrealized), included in earnings, asset | [1] | (6,990) | 967 | 3,021 | 5,248 | ||||
Gains or losses (realized/ unrealized), included in other comprehensive income, asset | [2] | (5,343) | 1,749 | (190) | 3,546 | ||||
Gains or losses (realized/ unrealized), asset, total | (12,333) | 2,716 | 2,831 | 8,794 | |||||
Purchases, asset | [3] | 19,452 | 29,057 | 66,813 | 51,327 | ||||
Sales, asset | 0 | 0 | (5,678) | (7,485) | |||||
Settlements, asset | [4] | (4,972) | (30,832) | (8,086) | (47,734) | ||||
Transfers in and/or out of Level 3 (net), asset | 0 | 0 | 0 | 0 | |||||
Ending Balance, asset | 193,190 | 134,577 | 193,190 | 134,577 | |||||
Change in unrealized gains or losses included in earnings for assets and liabilities still held at the end of period | (7,147) | [1] | 390 | [1] | 2,848 | [1] | 711 | [5] | |
Change in unrealized gains or losses included in other comprehensive income for assets and liabilities still held at the end of period | [2] | (5,358) | 1,795 | 173 | 3,669 | ||||
Equity securities | |||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||||
Beginning Balance, asset | 130,372 | 92,008 | 112,972 | 91,410 | |||||
Gains or losses (realized/ unrealized), included in earnings, asset | [1] | 6,778 | (413) | 10,652 | 12,322 | ||||
Gains or losses (realized/ unrealized), included in other comprehensive income, asset | [2] | (11,489) | 2,656 | 8,203 | 3,674 | ||||
Gains or losses (realized/ unrealized), asset, total | (4,711) | 2,243 | 18,855 | 15,996 | |||||
Purchases, asset | [3] | 2,196 | 9,200 | 4,696 | 22,891 | ||||
Sales, asset | (67) | (420) | (7,211) | (26,795) | |||||
Settlements, asset | [4] | (472) | (218) | (1,994) | (689) | ||||
Transfers in and/or out of Level 3 (net), asset | 0 | (610) | 0 | (610) | |||||
Ending Balance, asset | 127,318 | 102,203 | 127,318 | 102,203 | |||||
Change in unrealized gains or losses included in earnings for assets and liabilities still held at the end of period | 6,742 | [1] | (516) | [1] | 9,897 | [1] | 1,012 | [5] | |
Change in unrealized gains or losses included in other comprehensive income for assets and liabilities still held at the end of period | [2] | (11,487) | 2,630 | 8,201 | 3,638 | ||||
Equity securities | Investment funds, and others | |||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||||
Beginning Balance, asset | 130,372 | 92,008 | 112,972 | 91,410 | |||||
Gains or losses (realized/ unrealized), included in earnings, asset | [1] | 6,778 | (413) | 10,652 | 12,322 | ||||
Gains or losses (realized/ unrealized), included in other comprehensive income, asset | [2] | (11,489) | 2,656 | 8,203 | 3,674 | ||||
Gains or losses (realized/ unrealized), asset, total | (4,711) | 2,243 | 18,855 | 15,996 | |||||
Purchases, asset | [3] | 2,196 | 9,200 | 4,696 | 22,891 | ||||
Sales, asset | (67) | (420) | (7,211) | (26,795) | |||||
Settlements, asset | [4] | (472) | (218) | (1,994) | (689) | ||||
Transfers in and/or out of Level 3 (net), asset | 0 | (610) | 0 | (610) | |||||
Ending Balance, asset | 127,318 | 102,203 | 127,318 | 102,203 | |||||
Change in unrealized gains or losses included in earnings for assets and liabilities still held at the end of period | 6,742 | [1] | (516) | [1] | 9,897 | [1] | 1,012 | [5] | |
Change in unrealized gains or losses included in other comprehensive income for assets and liabilities still held at the end of period | [2] | (11,487) | 2,630 | 8,201 | 3,638 | ||||
Derivative assets and liabilities (net) | |||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||||
Beginning Balance, asset | (24,839) | 15,605 | (3,772) | 13,790 | |||||
Gains or losses (realized/ unrealized), included in earnings, asset | [1] | 10,522 | 827 | (7,964) | 2,445 | ||||
Gains or losses (realized/ unrealized), included in other comprehensive income, asset | [2] | 1,444 | 433 | (1,137) | 630 | ||||
Gains or losses (realized/ unrealized), asset, total | 11,966 | 1,260 | (9,101) | 3,075 | |||||
Purchases, asset | [3] | 0 | 0 | 0 | 0 | ||||
Sales, asset | 0 | 0 | 0 | 0 | |||||
Settlements, asset | [4] | 0 | 0 | 0 | 0 | ||||
Transfers in and/or out of Level 3 (net), asset | 0 | 0 | 0 | 0 | |||||
Ending Balance, asset | (12,873) | 16,865 | (12,873) | 16,865 | |||||
Change in unrealized gains or losses included in earnings for assets and liabilities still held at the end of period | 10,522 | [1] | 827 | [1] | (7,964) | [1] | 2,445 | [5] | |
Change in unrealized gains or losses included in other comprehensive income for assets and liabilities still held at the end of period | [2] | 1,444 | 433 | (1,137) | 630 | ||||
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 | (24,839) | 15,605 | (3,772) | 13,790 | |||||
Gains or losses (realized/ unrealized), included in earnings, asset | [1] | 10,522 | 827 | (7,964) | 2,445 | ||||
Gains or losses (realized/ unrealized), included in other comprehensive income, asset | [2] | 1,444 | 433 | (1,137) | 630 | ||||
Gains or losses (realized/ unrealized), asset, total | 11,966 | 1,260 | (9,101) | 3,075 | |||||
Purchases, asset | [3] | 0 | 0 | 0 | 0 | ||||
Sales, asset | 0 | 0 | 0 | 0 | |||||
Settlements, asset | [4] | 0 | 0 | 0 | 0 | ||||
Transfers in and/or out of Level 3 (net), asset | 0 | 0 | 0 | 0 | |||||
Ending Balance, asset | (12,873) | 16,865 | (12,873) | 16,865 | |||||
Change in unrealized gains or losses included in earnings for assets and liabilities still held at the end of period | 10,522 | [1] | 827 | [1] | (7,964) | [1] | 2,445 | [5] | |
Change in unrealized gains or losses included in other comprehensive income for assets and liabilities still held at the end of period | [2] | 1,444 | 433 | (1,137) | 630 | ||||
Other assets | |||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||||
Beginning Balance, asset | 5,702 | 5,564 | 5,214 | 6,297 | |||||
Gains or losses (realized/ unrealized), included in earnings, asset | [1] | (776) | (591) | (655) | (1,868) | ||||
Gains or losses (realized/ unrealized), included in other comprehensive income, asset | [2] | 0 | 0 | 0 | 0 | ||||
Gains or losses (realized/ unrealized), asset, total | (776) | (591) | (655) | (1,868) | |||||
Purchases, asset | [3] | 269 | 414 | 901 | 1,464 | ||||
Sales, asset | 0 | 0 | 0 | 0 | |||||
Settlements, asset | [4] | (57) | (118) | (322) | (624) | ||||
Transfers in and/or out of Level 3 (net), asset | 0 | 0 | 0 | 0 | |||||
Ending Balance, asset | 5,138 | 5,269 | 5,138 | 5,269 | |||||
Change in unrealized gains or losses included in earnings for assets and liabilities still held at the end of period | (776) | [1] | (591) | [1] | (655) | [1] | (1,868) | [5] | |
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 | 0 | 0 | ||||
Other assets | Reinsurance recoverables | |||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||||
Beginning Balance, asset | [6] | 5,702 | 5,564 | 5,214 | 6,297 | ||||
Gains or losses (realized/ unrealized), included in earnings, asset | [1],[6] | (776) | (591) | (655) | (1,868) | ||||
Gains or losses (realized/ unrealized), included in other comprehensive income, asset | [2],[6] | 0 | 0 | 0 | 0 | ||||
Gains or losses (realized/ unrealized), asset, total | [6] | (776) | (591) | (655) | (1,868) | ||||
Purchases, asset | [3],[6] | 269 | 414 | 901 | 1,464 | ||||
Sales, asset | [6] | 0 | 0 | 0 | 0 | ||||
Settlements, asset | [4],[6] | (57) | (118) | (322) | (624) | ||||
Transfers in and/or out of Level 3 (net), asset | [6] | 0 | 0 | 0 | 0 | ||||
Ending Balance, asset | [6] | 5,138 | 5,269 | 5,138 | 5,269 | ||||
Change in unrealized gains or losses included in earnings for assets and liabilities still held at the end of period | [1],[6] | (776) | (591) | (655) | (1,868) | ||||
Change in unrealized gains or losses included in other comprehensive income for assets and liabilities still held at the end of period | [2],[6] | 0 | 0 | 0 | 0 | ||||
Policy liabilities and policy account balances | |||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||||
Beginning Balance, liability | 170,177 | 226,221 | 198,905 | 266,422 | |||||
Gains or losses (realized/ unrealized), included in earnings, liability | [1] | 1,073 | (1,141) | 12,752 | (7,872) | ||||
Gains or losses (realized/ unrealized), included in other comprehensive income, liability | [2] | (67) | 9 | 16 | (75) | ||||
Gains or losses (realized/ unrealized), liability, total | 1,006 | (1,132) | 12,768 | (7,947) | |||||
Purchases, liability | [3] | 0 | 0 | 0 | 0 | ||||
Sales, liability | 0 | 0 | 0 | 0 | |||||
Settlements, liability | [4] | (6,213) | (11,145) | (23,179) | (58,161) | ||||
Transfers in and/or out of Level 3 (net), liability | 0 | 0 | 0 | 0 | |||||
Ending Balance, liability | 162,958 | 216,208 | 162,958 | 216,208 | |||||
Change in unrealized gains or losses included in earnings for assets and liabilities still held at the end of period | 1,073 | [1] | (1,141) | [1] | 12,752 | [1] | (7,872) | [5] | |
Change in unrealized gains or losses included in other comprehensive income for assets and liabilities still held at the end of period | [2] | (67) | 9 | 16 | (75) | ||||
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 | [7] | 170,177 | 226,221 | 198,905 | 266,422 | ||||
Gains or losses (realized/ unrealized), included in earnings, liability | [1],[7] | 1,073 | (1,141) | 12,752 | (7,872) | ||||
Gains or losses (realized/ unrealized), included in other comprehensive income, liability | [2],[7] | (67) | 9 | 16 | (75) | ||||
Gains or losses (realized/ unrealized), liability, total | [7] | 1,006 | (1,132) | 12,768 | (7,947) | ||||
Purchases, liability | [3],[7] | 0 | 0 | 0 | 0 | ||||
Sales, liability | [7] | 0 | 0 | 0 | 0 | ||||
Settlements, liability | [4],[7] | (6,213) | (11,145) | (23,179) | (58,161) | ||||
Transfers in and/or out of Level 3 (net), liability | [7] | 0 | 0 | 0 | 0 | ||||
Ending Balance, liability | [7] | 162,958 | 216,208 | 162,958 | 216,208 | ||||
Change in unrealized gains or losses included in earnings for assets and liabilities still held at the end of period | [1],[7] | 1,073 | (1,141) | 12,752 | (7,872) | ||||
Change in unrealized gains or losses included in other comprehensive income for assets and liabilities still held at the end of period | [2],[7] | ¥ (67) | ¥ 9 | ¥ 16 | ¥ (75) | ||||
[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]FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1[6]“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.”[7]“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 | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | |
Loans held for sale | Level 3 | ||||
Fair Value Asset And Liabilities Measured On Recurring Basis [Line Items] | ||||
Transferd into level 3 | ¥ 176,055 | ¥ 176,055 | ||
Investment funds | ||||
Fair Value Asset And Liabilities Measured On Recurring Basis [Line Items] | ||||
Transferred from level 3 | ¥ 610 | ¥ 610 |
Fair Value Measurements (Reco_3
Fair Value Measurements (Recorded Amounts of Major Assets Measured at Fair Value on Nonrecurring Basis) (Detail) - JPY (¥) ¥ in Millions | Dec. 31, 2022 | Mar. 31, 2022 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans held for sale | ¥ 182,700 | ¥ 151,601 |
Fair Value, Measurements, Nonrecurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans held for sale | 277 | 235 |
Real estate collateral-dependent loans (net of allowance for credit losses) | 5,994 | 6,972 |
Investment in operating leases, property under facility operations, office facilities and other assets | 59,847 | |
Investment in operating leases, property under facility operations and other assets | 3,931 | |
Certain equity securities | 6,125 | 9,451 |
Certain investments in affiliates | 2,846 | |
Certain reporting units including goodwill | 192 | |
Certain intangible assets acquired in business combinations | 98,014 | |
Assets measured at fair value on a nonrecurring basis | 16,327 | 177,557 |
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, property under facility operations, office facilities and other assets | 0 | |
Investment in operating leases, property under facility operations and other assets | 0 | |
Certain equity securities | 0 | 0 |
Certain investments in affiliates | 0 | |
Certain reporting units including goodwill | 0 | |
Certain intangible assets acquired in business combinations | 0 | |
Assets measured at fair value on a nonrecurring basis | 0 | 0 |
Fair Value, Measurements, Nonrecurring | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans held for sale | 277 | 235 |
Real estate collateral-dependent loans (net of allowance for credit losses) | 0 | 0 |
Investment in operating leases, property under facility operations, office facilities and other assets | 262 | |
Investment in operating leases, property under facility operations and other assets | 31 | |
Certain equity securities | 6,125 | 9,451 |
Certain investments in affiliates | 0 | |
Certain reporting units including goodwill | 0 | |
Certain intangible assets acquired in business combinations | 0 | |
Assets measured at fair value on a nonrecurring basis | 6,433 | 9,948 |
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) | 5,994 | 6,972 |
Investment in operating leases, property under facility operations, office facilities and other assets | 59,585 | |
Investment in operating leases, property under facility operations and other assets | 3,900 | |
Certain equity securities | 0 | 0 |
Certain investments in affiliates | 2,846 | |
Certain reporting units including goodwill | 192 | |
Certain intangible assets acquired in business combinations | 98,014 | |
Assets measured at fair value on a nonrecurring basis | ¥ 9,894 | ¥ 167,609 |
Fair Value Measurements (Inform
Fair Value Measurements (Information about Valuation Techniques and Significant Unobservable Inputs Used in Valuation of Level Three Assets and Liabilities Measured at Fair Value on Recurring Basis) (Detail) ¥ in Millions | Dec. 31, 2022 JPY (¥) | Mar. 31, 2022 JPY (¥) | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Loans held for sale | ¥ 182,700 | ¥ 151,601 | |||
Available-for-sale debt securities | 2,107,359 | 2,174,891 | |||
Equity securities | [1] | 561,116 | 560,643 | ||
Derivative assets | 103,329 | 31,033 | |||
Other assets | 5,138 | 5,214 | |||
Derivative Liability | 43,311 | 85,372 | |||
Policy liabilities and Policy Account Balances | 162,958 | 198,905 | |||
Reinsurance recoverables | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Other assets | 5,138 | 5,214 | |||
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 | 162,958 | 198,905 | |||
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 | 354,010 | 325,604 | |||
Corporate debt securities | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Available-for-sale debt securities | 772,155 | 849,560 | |||
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 | 194,167 | 138,382 | |||
Level 3 | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Available-for-sale debt securities | 202,681 | 141,060 | |||
Equity securities | 127,318 | [2] | 112,972 | [3] | |
Derivative assets | [4] | 0 | 0 | ||
Derivative Liability | [4] | 0 | 0 | ||
Fair Value, Measurements, Recurring | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Loans held for sale | [5] | 182,700 | 151,601 | ||
Available-for-sale debt securities | 2,107,359 | 2,174,891 | |||
Derivative assets | 103,329 | 31,033 | |||
Other assets | 5,138 | 5,214 | |||
Total | 2,773,328 | 2,770,846 | |||
Derivative Liability | 43,311 | 85,372 | |||
Policy liabilities and Policy Account Balances | 162,958 | 198,905 | |||
Total financial liabilities | 222,733 | 304,610 | |||
Fair Value, Measurements, Recurring | Reinsurance recoverables | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Other assets | [6] | 5,138 | 5,214 | ||
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 | [7] | 162,958 | 198,905 | ||
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 | 354,010 | 325,604 | |||
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 | [8] | 772,155 | 849,560 | ||
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 | 194,167 | 138,382 | |||
Fair Value, Measurements, Recurring | Level 3 | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Loans held for sale | [5] | 176,055 | 0 | ||
Available-for-sale debt securities | 202,681 | 141,060 | |||
Derivative assets | 0 | 0 | |||
Other assets | 5,138 | 5,214 | |||
Total | 518,222 | 264,106 | |||
Derivative Liability | 0 | 0 | |||
Policy liabilities and Policy Account Balances | 162,958 | 198,905 | |||
Total financial liabilities | 182,861 | 207,537 | |||
Fair Value, Measurements, Recurring | Level 3 | Discount rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Loans held for sale | 176,055 | ||||
Fair Value, Measurements, Recurring | Level 3 | Reinsurance recoverables | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Other assets | [6] | 5,138 | 5,214 | ||
Fair Value, Measurements, Recurring | Level 3 | Reinsurance recoverables | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Other assets | 5,138 | 5,214 | |||
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 | [7] | 162,958 | 198,905 | ||
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 | 162,958 | 198,905 | |||
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 | 3,310 | 3,053 | |||
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 | 3,310 | 3,053 | |||
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 | [8] | 6,181 | 697 | ||
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 | 314 | 697 | |||
Fair Value, Measurements, Recurring | Level 3 | Corporate debt securities | Appraisals/Broker quotes | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Available-for-sale debt securities | 5,867 | ||||
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 | 193,190 | 137,310 | |||
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 | 24,635 | 25,666 | |||
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 | ¥ 168,555 | ¥ 111,644 | |||
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, and others | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Equity securities | ¥ 108,768 | ¥ 86,903 | |||
Fair Value, Measurements, Recurring | Level 3 | Investment funds, and others | Appraisals/Broker quotes | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Equity securities | 18,550 | 26,069 | |||
Fair Value, Measurements, Recurring | Level 3 | Options held/written and other | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative assets | 7,030 | 4,792 | |||
Derivative Liability | 19,875 | 8,600 | |||
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 | ||||
Derivative Liability | ¥ 28 | ¥ 32 | |||
Fair Value, Measurements, Recurring | Level 3 | Minimum | Discount rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Loans held for sale | 0.09 | ||||
Fair Value, Measurements, Recurring | Level 3 | Minimum | Reinsurance recoverables | Discount rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Other assets | (0.006) | (0.002) | |||
Fair Value, Measurements, Recurring | Level 3 | Minimum | Reinsurance recoverables | 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 recoverables | 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 recoverables | 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 | (0.006) | (0.002) | |||
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 | 0.004 | |||
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 | 0.003 | 0.001 | |||
Fair Value, Measurements, Recurring | Level 3 | Minimum | Investment funds, and others | WACC | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs. Equity securities | 0.119 | 0.119 | |||
Fair Value, Measurements, Recurring | Level 3 | Minimum | Investment funds, and others | EV/Terminal EBITDA multiple | Market Multiples | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs. Equity securities | 7.5 | 8.3 | |||
Fair Value, Measurements, Recurring | Level 3 | Minimum | Investment funds, and others | EV/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 | 5.1 | 6.4 | |||
Fair Value, Measurements, Recurring | Level 3 | Minimum | Investment funds, and others | EV/Forward EBITDA multiple | Market Multiples | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs. Equity securities | 4.9 | 5.7 | |||
Fair Value, Measurements, Recurring | Level 3 | Minimum | Investment funds, and others | 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 | 7.5 | 7.6 | |||
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 | 0.12 | |||
Fair Value, Measurements, Recurring | Level 3 | Maximum | Discount rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Loans held for sale | 0.10 | ||||
Fair Value, Measurements, Recurring | Level 3 | Maximum | Reinsurance recoverables | Discount rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Other assets | 0.021 | 0.007 | |||
Fair Value, Measurements, Recurring | Level 3 | Maximum | Reinsurance recoverables | 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 recoverables | 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 recoverables | 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 | 0.021 | 0.007 | |||
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 | 0.043 | 0.007 | |||
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, and others | WACC | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs. Equity securities | 0.264 | 0.186 | |||
Fair Value, Measurements, Recurring | Level 3 | Maximum | Investment funds, and others | 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 | 12 | |||
Fair Value, Measurements, Recurring | Level 3 | Maximum | Investment funds, and others | EV/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 | 8.8 | 12.6 | |||
Fair Value, Measurements, Recurring | Level 3 | Maximum | Investment funds, and others | EV/Forward EBITDA multiple | Market Multiples | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs. Equity securities | 8.6 | 12.5 | |||
Fair Value, Measurements, Recurring | Level 3 | Maximum | Investment funds, and others | 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 | 14.5 | 14.5 | |||
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 | 0.32 | 0.34 | |||
Significant unobservable inputs, Derivative liabilities | 0.32 | 0.34 | |||
Fair Value, Measurements, Recurring | Level 3 | Weighted Average | Discount rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Loans held for sale | 0.093 | ||||
Fair Value, Measurements, Recurring | Level 3 | Weighted Average | Reinsurance recoverables | Discount rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Other assets | 0.005 | 0.002 | |||
Fair Value, Measurements, Recurring | Level 3 | Weighted Average | Reinsurance recoverables | Mortality Rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Other assets | 0.026 | 0.021 | |||
Fair Value, Measurements, Recurring | Level 3 | Weighted Average | Reinsurance recoverables | Lapse Rate | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs, Other assets | 0.05 | 0.055 | |||
Fair Value, Measurements, Recurring | Level 3 | Weighted Average | Reinsurance recoverables | 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 | 0.005 | 0.002 | |||
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 | 0.021 | 0.019 | |||
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 | 0.059 | 0.062 | |||
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 | 0.696 | 0.718 | |||
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 | 0.008 | 0.005 | |||
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 | 0.102 | 0.106 | |||
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, and others | WACC | Discounted cash flows | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs. Equity securities | 0.173 | 0.163 | |||
Fair Value, Measurements, Recurring | Level 3 | Weighted Average | Investment funds, and others | EV/Terminal EBITDA multiple | Market Multiples | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs. Equity securities | 9.8 | 9.9 | |||
Fair Value, Measurements, Recurring | Level 3 | Weighted Average | Investment funds, and others | EV/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 | 7.8 | 9.5 | |||
Fair Value, Measurements, Recurring | Level 3 | Weighted Average | Investment funds, and others | EV/Forward EBITDA multiple | Market Multiples | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Significant unobservable inputs. Equity securities | 7.3 | 9.4 | |||
Fair Value, Measurements, Recurring | Level 3 | Weighted Average | Investment funds, and others | 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 | 10.1 | 10.3 | |||
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 | 0.144 | 0.149 | |||
Significant unobservable inputs, Derivative liabilities | 0.144 | 0.149 | |||
[1]The amount of assets under management of variable annuity and variable life insurance contracts included in equity securities were ¥185,115 million and ¥149,314 million as of March 31, 2022 and December 31, 2022, respectively. The amount of investment funds that are accounted for under the equity method included in equity securities were ¥90,650 million and ¥90,709 million as of March 31, 2022 and December 31, 2022, respectively. The amount of investment funds elected for the fair value option included in equity securities, and others were ¥11,709 million and ¥15,002 million as of March 31, 2022 and December 31, 2022, respectively.[2]The amount of ¥46,085 million of investment funds measured at net asset value per share is not included.[3]The amount of ¥25,999 million of investment funds measured at net asset value per share is not included.[4]It represents the amount after offset under counterparty netting of derivative assets and liabilities. For the information of input level before netting, see Note 3 “Fair Value Measurements.”[5]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 ¥138 million and a loss of ¥3,664 million from the change in the fair value of the loans for the nine months ended December 31, 2021 and 2022, respectively. Included in “Other (income) and expense” in the consolidated statements of income were losses of ¥931 million and ¥156 million from the change in the fair value of the loans for the three months ended December 31, 2021 and 2022, respectively. No gains or losses were recognized in earnings during the nine months ended December 31, 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, 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. The amounts of aggregate unpaid principal balance and aggregate fair value of the loans held for sale as of December 31, 2022, were ¥186,546 million and ¥182,700 million, respectively, and the amount of the aggregate fair value was less than the amount of aggregate unpaid principal balance by ¥3,846 million. As of March 31, 2022 and December 31, 2022, there were no loans that are 90 days or more past due or, in non-accrual status.[6]Certain subsidiaries elected the fair value option for certain reinsurance contracts held. The fair value of the reinsurance contracts elected for the fair value option in other assets were ¥5,214 million and ¥5,138 million as of March 31, 2022 and December 31, 2022, respectively. For the effect of changes in the fair value of those reinsurance contracts on earnings during the nine and three months ended December 31, 2021 and 2022, see Note 17 “Life Insurance Operations.”[7]Certain subsidiaries elected the fair value option for the entire variable annuity and variable life insurance contracts held. 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 ¥198,905 million and ¥162,958 million as of March 31, 2022 and December 31, 2022, respectively. For the effect of changes in the fair value of the variable annuity and variable life insurance contracts on earnings during the nine and three months ended December 31, 2021 and 2022, see Note 17 “Life Insurance Operations.”[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 a gain of ¥55 million and a loss of ¥705 million from the change in the fair value of those investments for the nine months ended December 31, 2021 and 2022, respectively. Included in “Gains on investment securities and dividends” in the consolidated statements of income were gains of ¥31 million and ¥272 million from the change in the fair value of those investments for the three months ended December 31, 2021 and 2022, respectively. The amounts of aggregate fair value elected the fair value option were ¥7,644 million and ¥10,074 million as of March 31, 2022 and December 31, 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 | Dec. 31, 2022 JPY (¥) | Mar. 31, 2022 JPY (¥) |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Real estate collateral-dependent loans (net of allowance for credit losses) | ¥ 5,994 | ¥ 6,972 |
Investment in operating leases, property under facility operations, office facilities and other assets | 59,847 | |
Investment in operating leases, property under facility operations and other assets | 3,931 | |
Certain investments in affiliates | 2,846 | |
Assets, Fair Value Disclosure | 16,327 | 177,557 |
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) | 5,994 | 6,972 |
Investment in operating leases, property under facility operations, office facilities and other assets | 59,585 | |
Investment in operating leases, property under facility operations and other assets | 3,900 | |
Certain investments in affiliates | 2,846 | |
Assets, Fair Value Disclosure | 9,894 | 167,609 |
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) | 1,433 | 1,511 |
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) | ¥ 4,561 | ¥ 5,461 |
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 | 0.047 | 0.05 |
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 | 0.069 | 0.085 |
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 | 0.059 | 0.061 |
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, property under facility operations, office facilities and other assets | ¥ 32,328 | |
Investment in operating leases, property under facility operations, office facilities and other assets | Level 3 | Discounted cash flows | 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, property under facility operations, office facilities and other assets | ¥ 27,257 | |
Investment in operating leases, property under facility operations, office facilities and other assets | 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 | 0.052 | |
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 | |
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 | 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 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 | |
Investment in operating leases, property under facility operations 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, property under facility operations and other assets | ¥ 3,240 | |
Investment in operating leases, property under facility operations and other assets | Level 3 | Appraisals | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment in operating leases, property under facility operations and other assets | ¥ 660 | |
Investment in operating leases, property under facility operations and other assets | Level 3 | Minimum | Discounted cash flows | Discount rate | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range Discount Rate | 0.005 | |
Investment in operating leases, property under facility operations and other assets | Level 3 | Maximum | Discounted cash flows | Discount rate | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range Discount Rate | 0.058 | |
Investment in operating leases, property under facility operations and other assets | 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 | 0.049 |
Acquisitions and Divestitures -
Acquisitions and Divestitures - Additional Information (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | |
Business Acquisition [Line Items] | ||||
Bargain purchase gain | ¥ 1,018 | ¥ 0 | ¥ 1,018 | ¥ 0 |
Gains on Sales of Subsidiaries and Affiliates and Liquidation Losses, net | 18,283 | 19,632 | 26,872 | 26,105 |
Real Estate Segment | ||||
Business Acquisition [Line Items] | ||||
Gains on Sales of Subsidiaries and Affiliates and Liquidation Losses, net | 137 | |||
Corporate Financial Services and Maintenance Leasing | ||||
Business Acquisition [Line Items] | ||||
Gains on Sales of Subsidiaries and Affiliates and Liquidation Losses, net | 183 | 678 | 183 | 749 |
Environmental and Energy | ||||
Business Acquisition [Line Items] | ||||
Gains on Sales of Subsidiaries and Affiliates and Liquidation Losses, net | 15,675 | 3,932 | 15,675 | 3,895 |
ORIX USA | ||||
Business Acquisition [Line Items] | ||||
Gains on Sales of Subsidiaries and Affiliates and Liquidation Losses, net | 9,427 | 4,113 | 15,733 | |
Asia and Australia | ||||
Business Acquisition [Line Items] | ||||
Gains on Sales of Subsidiaries and Affiliates and Liquidation Losses, net | 5,560 | 4,415 | 5,691 | |
PE Investment and Concession | ||||
Business Acquisition [Line Items] | ||||
Gains on Sales of Subsidiaries and Affiliates and Liquidation Losses, net | 2,367 | 2,367 | ||
Divestiture | ||||
Business Acquisition [Line Items] | ||||
Gains on Sales of Subsidiaries and Affiliates and Liquidation Losses, net | ¥ 18,283 | ¥ 19,632 | ¥ 26,872 | ¥ 26,105 |
Revenues from Contracts with _3
Revenues from Contracts with Customers - Summary of Revenues from Contracts with Customers, and Other Sources of Revenue (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | ||
Revenue From Contract With Customers [Line Items] | |||||
Revenues from contracts with customers | ¥ 306,525 | ¥ 321,665 | ¥ 1,000,124 | ¥ 916,776 | |
Other revenues | [1] | 323,503 | 304,914 | 994,720 | 951,337 |
Total revenues | ¥ 630,028 | ¥ 626,579 | ¥ 1,994,844 | ¥ 1,868,113 | |
[1]Other revenues are not considered to be within 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. |
Revenues from Contracts with _4
Revenues from Contracts with Customers - Balances from Contracts with Customers in Fee Business (Detail) - JPY (¥) ¥ in Millions | Dec. 31, 2022 | Mar. 31, 2022 |
Contract with Customer, Asset and Liability [Abstract] | ||
Trade Notes, Accounts and Other Receivable | ¥ 176,841 | ¥ 174,667 |
Contract assets (Included in Other Assets) | 19,998 | 13,802 |
Contract liabilities (Included in Other Liabilities) | ¥ 30,145 | ¥ 32,978 |
Revenues from Contracts with _5
Revenues from Contracts with Customers - Additional Information (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | |
Revenue From Contract With Customers [Line Items] | ||||
Revenues included in contract liabilities | ¥ 2,591 | ¥ 7,130 | ¥ 23,910 | ¥ 32,761 |
Revenue remaining performance obligation | ¥ 198,105 | ¥ 198,105 | ||
Automobile Services [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-04-01 | ||||
Revenue From Contract With Customers [Line Items] | ||||
Revenue remaining performance obligation expected timing of satisfaction period | 10 years | 10 years | ||
Maximum | ||||
Revenue From Contract With Customers [Line Items] | ||||
Revenue remaining performance obligation expected timing of satisfaction, period | Remaining term for the obligations ranges up to 12 years |
Leases - Lessor_ Lease Income (
Leases - Lessor: Lease Income (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | ||||||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | |||||
Lease income—net investment in leases | ||||||||
Interest income | ¥ 20,283 | ¥ 18,574 | ¥ 60,219 | ¥ 54,536 | ||||
Other | 721 | 850 | 1,868 | 1,848 | ||||
Lease income—operating leases | 119,616 | [1] | 113,035 | [1] | 368,760 | [2] | 340,968 | [2] |
Total lease income | ¥ 140,620 | ¥ 132,459 | ¥ 430,847 | ¥ 397,352 | ||||
[1]Gains from the disposition of real estate under operating leases included in operating lease revenues were ¥2,105 million and ¥596 million, and gains from the disposition of operating lease assets other than real estate included in operating lease revenues were ¥6,607 million and ¥6,980 million, for the three months ended December 31, 2021 and 2022, respectively.[2]Gains from the disposition of real estate under operating leases included in operating lease revenues were ¥17,545 million and ¥13,083 million, and gains from the disposition of operating lease assets other than real estate included in operating lease revenues were ¥17,405 million and ¥26,070 million, for the nine months ended December 31, 2021 and 2022, respectively. |
Lease Income (Operating Lease)
Lease Income (Operating Lease) (Parenthetical) (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | |
Lessor, Lease, Description [Line Items] | ||||
Gains on sales of operating lease assets | ¥ 39,153 | ¥ 34,950 | ||
Real Estate Asset | ||||
Lessor, Lease, Description [Line Items] | ||||
Gains on sales of operating lease assets | ¥ 596 | ¥ 2,105 | 13,083 | 17,545 |
Operating Lease Assets Other than Real Estate | ||||
Lessor, Lease, Description [Line Items] | ||||
Gains on sales of operating lease assets | ¥ 6,980 | ¥ 6,607 | ¥ 26,070 | ¥ 17,405 |
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 | 3 Months Ended | 9 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | Mar. 31, 2022 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Beginning balance | ¥ 69,158 | ¥ 79,284 | ¥ 71,416 | ¥ 79,995 | |
Provision (Reversal) | 6,430 | 3,981 | 8,899 | 9,093 | |
Allowance of purchased loans during the reporting period | 2,294 | 117 | 4,389 | 1,869 | |
Charge-offs | (6,095) | (3,020) | (17,935) | (10,922) | |
Recoveries | 90 | 280 | 537 | 382 | |
Other | (2,784) | 1,129 | 1,787 | 1,354 | |
Ending balance | 69,093 | 81,771 | 69,093 | 81,771 | |
Collective (pool) assessment | 51,140 | 57,355 | 51,140 | 57,355 | ¥ 49,660 |
Individual assessment | 17,953 | 24,416 | 17,953 | 24,416 | 21,756 |
Net investment in leases | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Beginning balance | 16,240 | 16,243 | 16,303 | 16,522 | |
Provision (Reversal) | 264 | 229 | 846 | 901 | |
Allowance of purchased loans during the reporting period | 0 | 0 | 0 | 0 | |
Charge-offs | (610) | (625) | (2,040) | (1,623) | |
Recoveries | 2 | 3 | 27 | 13 | |
Other | (589) | 343 | 171 | 380 | |
Ending balance | 15,307 | 16,193 | 15,307 | 16,193 | |
Collective (pool) assessment | 11,587 | 12,810 | 11,587 | 12,810 | 12,480 |
Individual assessment | 3,720 | 3,383 | 3,720 | 3,383 | 3,823 |
Installment loans and net investment in leases | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Beginning balance | 65,937 | 72,240 | 64,134 | 73,990 | |
Provision (Reversal) | 6,541 | 2,831 | 8,853 | 6,356 | |
Allowance of purchased loans during the reporting period | 2,294 | 117 | 4,389 | 1,869 | |
Charge-offs | (4,292) | (2,980) | (11,565) | (10,309) | |
Recoveries | 86 | 274 | 518 | 365 | |
Other | (2,587) | 1,071 | 1,650 | 1,282 | |
Ending balance | 67,979 | 73,553 | 67,979 | 73,553 | |
Collective (pool) assessment | 50,586 | 56,737 | 50,586 | 56,737 | 49,098 |
Individual assessment | 17,393 | 16,816 | 17,393 | 16,816 | 15,036 |
Other financial assets measured at amortized cost | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Beginning balance | 3,221 | 7,044 | 7,282 | 6,005 | |
Provision (Reversal) | (111) | 1,150 | 46 | 2,737 | |
Allowance of purchased loans during the reporting period | 0 | 0 | 0 | 0 | |
Charge-offs | (1,803) | (40) | (6,370) | (613) | |
Recoveries | 4 | 6 | 19 | 17 | |
Other | (197) | 58 | 137 | 72 | |
Ending balance | 1,114 | 8,218 | 1,114 | 8,218 | |
Collective (pool) assessment | 554 | 618 | 554 | 618 | 562 |
Individual assessment | 560 | 7,600 | 560 | 7,600 | 6,720 |
Consumer | Real estate loans [Member] | Japan | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Beginning balance | 5,648 | 5,922 | 5,716 | 5,922 | |
Provision (Reversal) | 80 | 41 | 80 | 104 | |
Allowance of purchased loans during the reporting period | 0 | 0 | 0 | 0 | |
Charge-offs | (130) | (36) | (212) | (110) | |
Recoveries | 7 | 6 | 20 | 18 | |
Other | 0 | 0 | 1 | (1) | |
Ending balance | 5,605 | 5,933 | 5,605 | 5,933 | |
Collective (pool) assessment | 5,155 | 5,409 | 5,155 | 5,409 | 5,211 |
Individual assessment | 450 | 524 | 450 | 524 | 505 |
Consumer | Real estate loans [Member] | Overseas | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Beginning balance | 456 | 423 | 455 | 470 | |
Provision (Reversal) | (22) | 9 | (24) | (26) | |
Allowance of purchased loans during the reporting period | 0 | 0 | 0 | 0 | |
Charge-offs | 0 | 0 | 0 | 0 | |
Recoveries | 1 | 0 | 1 | 3 | |
Other | 16 | 12 | 19 | (3) | |
Ending balance | 451 | 444 | 451 | 444 | |
Collective (pool) assessment | 451 | 444 | 451 | 444 | 455 |
Individual assessment | 0 | 0 | 0 | 0 | 0 |
Consumer | Card loans [Member] | Japan | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Beginning balance | 9,986 | 12,423 | 10,019 | 12,984 | |
Provision (Reversal) | 301 | 183 | 529 | 61 | |
Allowance of purchased loans during the reporting period | 0 | 0 | 0 | 0 | |
Charge-offs | (139) | (259) | (404) | (702) | |
Recoveries | 2 | 0 | 6 | 3 | |
Other | 0 | 0 | 0 | 1 | |
Ending balance | 10,150 | 12,347 | 10,150 | 12,347 | |
Collective (pool) assessment | 9,508 | 11,657 | 9,508 | 11,657 | 9,423 |
Individual assessment | 642 | 690 | 642 | 690 | 596 |
Consumer | Other [Member] | Japan | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Beginning balance | 6,495 | 8,944 | 5,204 | 8,359 | |
Provision (Reversal) | 1,209 | 1,297 | 3,361 | 3,972 | |
Allowance of purchased loans during the reporting period | 0 | 0 | 0 | 0 | |
Charge-offs | (599) | (1,182) | (1,464) | (3,276) | |
Recoveries | 2 | 1 | 6 | 5 | |
Other | 0 | 1 | 0 | 1 | |
Ending balance | 7,107 | 9,061 | 7,107 | 9,061 | |
Collective (pool) assessment | 4,810 | 6,394 | 4,810 | 6,394 | 2,946 |
Individual assessment | 2,297 | 2,667 | 2,297 | 2,667 | 2,258 |
Consumer | Other [Member] | Overseas | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Beginning balance | 1,322 | 1,097 | 1,105 | 1,275 | |
Provision (Reversal) | 330 | (5) | 616 | 200 | |
Allowance of purchased loans during the reporting period | 0 | 0 | 0 | 0 | |
Charge-offs | (91) | (114) | (297) | (528) | |
Recoveries | 0 | 0 | 0 | 0 | |
Other | (175) | 41 | (38) | 72 | |
Ending balance | 1,386 | 1,019 | 1,386 | 1,019 | |
Collective (pool) assessment | 1,174 | 883 | 1,174 | 883 | 961 |
Individual assessment | 212 | 136 | 212 | 136 | 144 |
Corporate | Non-recourse Loans | Japan | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Beginning balance | 82 | 45 | 81 | 32 | |
Provision (Reversal) | 61 | 10 | 62 | 24 | |
Allowance of purchased loans during the reporting period | 0 | 0 | 0 | 0 | |
Charge-offs | 0 | 0 | 0 | 0 | |
Recoveries | 0 | 0 | 0 | 0 | |
Other | 0 | 0 | 0 | (1) | |
Ending balance | 143 | 55 | 143 | 55 | |
Collective (pool) assessment | 143 | 55 | 143 | 55 | 81 |
Individual assessment | 0 | 0 | 0 | 0 | 0 |
Corporate | Non-recourse Loans | The Americas | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Beginning balance | 1,869 | 2,928 | 2,691 | 3,450 | |
Provision (Reversal) | (240) | (378) | (1,184) | (937) | |
Allowance of purchased loans during the reporting period | 0 | 0 | 0 | 0 | |
Charge-offs | 0 | 0 | 0 | 0 | |
Recoveries | 0 | 0 | 0 | 0 | |
Other | (139) | 67 | (17) | 104 | |
Ending balance | 1,490 | 2,617 | 1,490 | 2,617 | |
Collective (pool) assessment | 562 | 2,376 | 562 | 2,376 | 1,836 |
Individual assessment | 928 | 241 | 928 | 241 | 855 |
Corporate | Corporate Real Estate Companies Loans | Japan | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Beginning balance | 610 | 996 | 617 | 901 | |
Provision (Reversal) | 3 | (22) | (18) | 62 | |
Allowance of purchased loans during the reporting period | 0 | 0 | 0 | 0 | |
Charge-offs | 0 | 0 | 0 | (3) | |
Recoveries | 8 | 8 | 21 | 22 | |
Other | (1) | (1) | 0 | (1) | |
Ending balance | 620 | 981 | 620 | 981 | |
Collective (pool) assessment | 502 | 737 | 502 | 737 | 490 |
Individual assessment | 118 | 244 | 118 | 244 | 127 |
Corporate | Corporate Real Estate Companies Loans | Overseas | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Beginning balance | 680 | 1,109 | 735 | 1,539 | |
Provision (Reversal) | 260 | (116) | 162 | (554) | |
Allowance of purchased loans during the reporting period | 0 | 0 | 0 | 0 | |
Charge-offs | (6) | 0 | (20) | 0 | |
Recoveries | 0 | 1 | 0 | 1 | |
Other | (8) | 23 | 49 | 31 | |
Ending balance | 926 | 1,017 | 926 | 1,017 | |
Collective (pool) assessment | 926 | 1,017 | 926 | 1,017 | 735 |
Individual assessment | 0 | 0 | 0 | 0 | 0 |
Corporate | Corporate Commercial, industrial and other companies | Japan | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Beginning balance | 1,323 | 1,735 | 1,337 | 1,938 | |
Provision (Reversal) | (154) | (48) | 102 | (112) | |
Allowance of purchased loans during the reporting period | 0 | 0 | 0 | 0 | |
Charge-offs | (43) | (22) | (320) | (169) | |
Recoveries | 62 | 37 | 69 | 44 | |
Other | 0 | 0 | 0 | 1 | |
Ending balance | 1,188 | 1,702 | 1,188 | 1,702 | |
Collective (pool) assessment | 388 | 544 | 388 | 544 | 505 |
Individual assessment | 800 | 1,158 | 800 | 1,158 | 832 |
Corporate | Corporate Commercial, industrial and other companies | Overseas | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Beginning balance | 20,039 | 18,673 | 18,296 | 18,763 | |
Provision (Reversal) | 4,473 | 1,766 | 4,587 | 2,882 | |
Allowance of purchased loans during the reporting period | 0 | 0 | 0 | 0 | |
Charge-offs | (377) | (603) | (2,202) | (1,948) | |
Recoveries | 2 | 117 | 312 | 146 | |
Other | (1,687) | 581 | 1,457 | 691 | |
Ending balance | 22,450 | 20,534 | 22,450 | 20,534 | |
Collective (pool) assessment | 14,827 | 13,782 | 14,827 | 13,782 | 13,367 |
Individual assessment | 7,623 | 6,752 | 7,623 | 6,752 | 4,929 |
Purchased loans | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Beginning balance | 1,187 | 1,702 | 1,575 | 1,835 | |
Provision (Reversal) | (24) | (135) | (266) | (221) | |
Allowance of purchased loans during the reporting period | 2,294 | 117 | 4,389 | 1,869 | |
Charge-offs | (2,297) | (139) | (4,606) | (1,950) | |
Recoveries | 0 | 101 | 56 | 110 | |
Other | (4) | 4 | 8 | 7 | |
Ending balance | 1,156 | 1,650 | 1,156 | 1,650 | |
Collective (pool) assessment | 553 | 629 | 553 | 629 | 608 |
Individual assessment | ¥ 603 | ¥ 1,021 | ¥ 603 | ¥ 1,021 | ¥ 967 |
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 | 3 Months Ended | 9 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | Mar. 31, 2022 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Provision for Credit Losses | ¥ 6,033 | ¥ 2,564 | ¥ 7,707 | ¥ 4,670 | |
Allowance for Credit Losses | 68,815 | 68,815 | ¥ 69,459 | ||
Total charge-offs | 6,095 | 3,020 | 17,935 | 10,922 | |
Purchased loans | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Provision for Credit Losses | 6,033 | 2,564 | 7,707 | 4,670 | |
Allowance for Credit Losses | 68,815 | 68,815 | ¥ 69,459 | ||
Total charge-offs | 2,297 | 139 | 4,606 | 1,950 | |
Purchased loans | Financial asset acquired with credit deterioration | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Total charge-offs | ¥ 2,294 | ¥ 117 | ¥ 4,389 | ¥ 1,869 |
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 | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | Mar. 31, 2022 | ||
Disclosure in Tabular Form of Allowances for Credit Losses and Provision for Credit Losses [Abstract] | ||||||
Net investment in leases, provision for credit loss | ¥ 264 | ¥ 229 | ¥ 846 | ¥ 901 | ||
Installment loans, provision for credit loss | 6,277 | 2,602 | 8,007 | 5,455 | ||
Subtotal in the above table, provision for credit loss | 6,541 | 2,831 | 8,853 | 6,356 | ||
Other financial assets measured at amortized cost, provision for credit loss | (111) | 1,150 | 46 | 2,737 | ||
Total in the above table, provision for credit loss | 6,430 | 3,981 | 8,899 | 9,093 | ||
Off-balance sheet credit exposures, provision for credit loss | [1] | (331) | (528) | (1,199) | (2,897) | |
Available-for-sale debt securities, provision for credit loss | [2] | 0 | 0 | (5) | 0 | |
Less: Loans to affiliates, provision for credit loss | [3] | (66) | (889) | 12 | (1,526) | |
Amount reported on the consolidated financial statements, provision for credit loss | ¥ 6,033 | ¥ 2,564 | 7,707 | ¥ 4,670 | ||
Net investment in lease, allowance for credit loss | 15,307 | ¥ 16,303 | ||||
Allowance for credit loss, Installment loans | 52,672 | 47,831 | ||||
Subtotal in the above table, allowance for credit loss | 67,979 | 64,134 | ||||
Other financial assets measured at amortized cost, allowance for credit loss | 1,114 | 7,282 | ||||
Total in the above table, allowance for credit loss | 69,093 | 71,416 | ||||
Off-balance sheet credit exposures, provision for credit loss | [1] | 0 | 0 | |||
Available-for-sale debt securities, provision for credit loss | [2] | 0 | 0 | |||
Less: Loans to affiliates, allowance for credit loss | [3] | (278) | (1,957) | |||
Amount reported on the consolidated financial statements, allowances for credit loss | ¥ 68,815 | ¥ 69,459 | ||||
[1]The allowance for off-balance sheet credit exposure were ¥22,120 million and ¥22,023 million as of March 31, 2022 and December 31, 2022, respectively, and the amounts are recorded in “Other liabilities” on the consolidated balance sheets. For further information, see Note 23 “Commitments, Guarantees and Contingent Liabilities.”[2]The allowance for available-for-sale debt securities were ¥153 million and ¥172 million as of March 31, 2022 and December 31, 2022, respectively, and the amounts are recorded as a reduction in “Investments in securities” on the consolidated balance sheets. For further information, see Note 8 “Investment in Securities.”[3]The provision for credit losses on loans to affiliates were a provision of ¥1,526 million and a reversal of ¥78 million during the nine months ended December 31, 2021 and 2022, a provision of ¥889 million and a reversal of ¥16 million during the three months ended December 31, 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 ¥1,957 million and ¥2,183 million as of March 31, 2022 and December 31, 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 | 3 Months Ended | 9 Months Ended | ||||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | Mar. 31, 2022 | ||
Allowance for credit loss on available for sale debt securities | ¥ (159) | ¥ 0 | ¥ (159) | ¥ 0 | ¥ (153) | |
Provision (reversal) for credit losses of loans to affiliates | [1] | 66 | 889 | (12) | 1,526 | |
Allowance for credit loss on loans to affiliates | 278 | 278 | 1,957 | |||
Investments in securities [Member] | ||||||
Allowance for credit loss on available for sale debt securities | 159 | 159 | 153 | |||
Other Liabilities [Member] | ||||||
Allowance for credit losses on off balance sheet exposures | 21,268 | 21,268 | ¥ 22,120 | |||
Equity in net income (loss) of affiliates [Member] | ||||||
Provision (reversal) for credit losses of loans to affiliates | ¥ 66 | ¥ 889 | ¥ (12) | ¥ 1,526 | ||
[1]The provision for credit losses on loans to affiliates were a provision of ¥1,526 million and a reversal of ¥78 million during the nine months ended December 31, 2021 and 2022, a provision of ¥889 million and a reversal of ¥16 million during the three months ended December 31, 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 ¥1,957 million and ¥2,183 million as of March 31, 2022 and December 31, 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 | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | |
Credit Loss [Abstract] | ||||
Purchase price | ¥ 14 | ¥ 1,209 | ¥ 1,954 | ¥ 2,629 |
Allowance for credit losses at acquisition date | 2,294 | 117 | 4,389 | 1,869 |
Discount or premium attributable to other factors | 2 | 56 | 228 | 178 |
Par value | ¥ 2,310 | ¥ 1,382 | ¥ 6,571 | ¥ 4,676 |
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 | Dec. 31, 2022 | Mar. 31, 2022 | |
Financing Receivable, Recorded Investment [Line Items] | |||
Total financing receivables | ¥ 4,796,066 | ¥ 4,744,682 | |
Performing | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Current fiscal year | 957,807 | 1,153,072 | |
One year ago | 896,567 | 754,895 | |
Two years ago | 587,997 | 862,432 | |
Three years ago | 680,142 | 554,762 | |
Four years ago | 478,017 | 378,732 | |
Prior | 971,925 | 815,806 | |
Total financing receivables | 4,572,455 | 4,519,699 | |
Non-Performing | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Current fiscal year | 11,050 | 11,302 | |
One year ago | 15,564 | 10,678 | |
Two years ago | 9,377 | 11,522 | |
Three years ago | 11,604 | 9,632 | |
Four years ago | 7,286 | 19,287 | |
Prior | 49,379 | 39,678 | |
Total financing receivables | 104,260 | 102,099 | |
Consumer borrowers | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total financing receivables | 2,356,501 | 2,343,030 | |
Consumer borrowers | Consumer - Real Estate Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total financing receivables | 2,120,065 | 2,113,430 | |
Consumer borrowers | Other loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total financing receivables | 65,971 | 55,913 | |
Consumer borrowers | Performing | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Current fiscal year | 279,069 | 322,924 | |
One year ago | 221,429 | 314,935 | |
Two years ago | 292,158 | 387,988 | |
Three years ago | 370,859 | 314,163 | |
Four years ago | 299,267 | 202,309 | |
Prior | 689,108 | 595,321 | |
Total financing receivables | 2,151,890 | 2,137,640 | |
Consumer borrowers | Performing | Consumer - Real Estate Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Current fiscal year | 254,879 | 302,695 | |
One year ago | 209,234 | 309,893 | |
Two years ago | 289,473 | 382,612 | |
Three years ago | 368,900 | 311,959 | |
Four years ago | 298,125 | 198,974 | |
Prior | 686,204 | 594,612 | |
Total financing receivables | 2,106,815 | 2,100,745 | |
Consumer borrowers | Performing | Other loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Current fiscal year | [1] | 24,190 | 20,229 |
One year ago | [1] | 12,195 | 5,042 |
Two years ago | [1] | 2,685 | 5,376 |
Three years ago | [1] | 1,959 | 2,204 |
Four years ago | [1] | 1,142 | 3,335 |
Prior | [1] | 2,904 | 709 |
Total financing receivables | [1] | 45,075 | 36,895 |
Consumer borrowers | Non-Performing | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Current fiscal year | 8,430 | 8,282 | |
One year ago | 5,759 | 4,595 | |
Two years ago | 3,474 | 3,852 | |
Three years ago | 2,497 | 2,098 | |
Four years ago | 1,356 | 961 | |
Prior | 12,630 | 11,915 | |
Total financing receivables | 34,146 | 31,703 | |
Consumer borrowers | Non-Performing | Consumer - Real Estate Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Current fiscal year | 18 | 26 | |
One year ago | 90 | 94 | |
Two years ago | 419 | 489 | |
Three years ago | 420 | 380 | |
Four years ago | 300 | 222 | |
Prior | 12,003 | 11,474 | |
Total financing receivables | 13,250 | 12,685 | |
Consumer borrowers | Non-Performing | Other loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Current fiscal year | [1] | 8,412 | 8,256 |
One year ago | [1] | 5,669 | 4,501 |
Two years ago | [1] | 3,055 | 3,363 |
Three years ago | [1] | 2,077 | 1,718 |
Four years ago | [1] | 1,056 | 739 |
Prior | [1] | 627 | 441 |
Total financing receivables | [1] | 20,896 | 19,018 |
Corporate borrowers | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total financing receivables | 1,357,754 | 1,343,679 | |
Corporate borrowers | Non-recourse Loans | Japan | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total financing receivables | 110,453 | 74,085 | |
Corporate borrowers | Non-recourse Loans | The Americas | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total financing receivables | 39,478 | 80,918 | |
Corporate borrowers | Real estate companies in Japan | Japan | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total financing receivables | 282,735 | 278,607 | |
Corporate borrowers | Real estate companies in overseas | Overseas | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total financing receivables | 89,588 | 121,851 | |
Corporate borrowers | Commercial Industrial And Other Companies In Japan [Member] | Japan | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total financing receivables | 160,979 | 164,132 | |
Corporate borrowers | Commercial Industrial And Other Companies In Overseas [Member] | Overseas | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total financing receivables | 674,521 | 624,086 | |
Corporate borrowers | Performing | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Current fiscal year | 331,404 | 487,433 | |
One year ago | 383,034 | 188,634 | |
Two years ago | 135,275 | 283,950 | |
Three years ago | 189,169 | 127,128 | |
Four years ago | 114,673 | 96,851 | |
Prior | 153,536 | 111,640 | |
Total financing receivables | 1,307,091 | 1,295,636 | |
Corporate borrowers | Performing | Non-recourse Loans | Japan | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Current fiscal year | 51,157 | 26,991 | |
One year ago | 17,997 | 6,686 | |
Two years ago | 6,697 | 24,244 | |
Three years ago | 22,476 | 5,256 | |
Four years ago | 4,449 | 2,750 | |
Prior | 7,677 | 8,158 | |
Total financing receivables | 110,453 | 74,085 | |
Corporate borrowers | Performing | Non-recourse Loans | The Americas | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Current fiscal year | 1,572 | 0 | |
One year ago | 0 | 5,547 | |
Two years ago | 5,152 | 51,467 | |
Three years ago | 16,551 | 11,744 | |
Four years ago | 11,845 | 7,721 | |
Prior | 1,077 | 1,397 | |
Total financing receivables | 36,197 | 77,876 | |
Corporate borrowers | Performing | Real estate companies in Japan | Japan | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Current fiscal year | 88,733 | 102,719 | |
One year ago | 56,046 | 48,420 | |
Two years ago | 34,123 | 37,845 | |
Three years ago | 28,091 | 28,727 | |
Four years ago | 24,014 | 24,481 | |
Prior | 49,538 | 34,111 | |
Total financing receivables | 280,545 | 276,303 | |
Corporate borrowers | Performing | Real estate companies in overseas | Overseas | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Current fiscal year | 33,435 | 24,104 | |
One year ago | 15,859 | 26,751 | |
Two years ago | 8,928 | 41,644 | |
Three years ago | 8,232 | 2,256 | |
Four years ago | 2,325 | 5,478 | |
Prior | 1,184 | 740 | |
Total financing receivables | 69,963 | 100,973 | |
Corporate borrowers | Performing | Commercial Industrial And Other Companies In Japan [Member] | Japan | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Current fiscal year | 55,014 | 75,273 | |
One year ago | 40,482 | 24,808 | |
Two years ago | 18,375 | 26,748 | |
Three years ago | 20,394 | 13,746 | |
Four years ago | 9,283 | 6,457 | |
Prior | 15,739 | 13,806 | |
Total financing receivables | 159,287 | 160,838 | |
Corporate borrowers | Performing | Commercial Industrial And Other Companies In Overseas [Member] | Overseas | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Current fiscal year | 101,493 | 258,346 | |
One year ago | 252,650 | 76,422 | |
Two years ago | 62,000 | 102,002 | |
Three years ago | 93,425 | 65,399 | |
Four years ago | 62,757 | 49,964 | |
Prior | 78,321 | 53,428 | |
Total financing receivables | 650,646 | 605,561 | |
Corporate borrowers | Non-Performing | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Current fiscal year | 251 | 412 | |
One year ago | 6,424 | 3,184 | |
Two years ago | 3,740 | 4,138 | |
Three years ago | 6,853 | 4,747 | |
Four years ago | 4,183 | 14,562 | |
Prior | 29,212 | 21,000 | |
Total financing receivables | 50,663 | 48,043 | |
Corporate borrowers | Non-Performing | Non-recourse Loans | The Americas | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Current fiscal year | 0 | 0 | |
One year ago | 0 | 64 | |
Two years ago | 0 | 0 | |
Three years ago | 0 | 1,587 | |
Four years ago | 0 | 0 | |
Prior | 3,281 | 1,391 | |
Total financing receivables | 3,281 | 3,042 | |
Corporate borrowers | Non-Performing | Real estate companies in Japan | Japan | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Current fiscal year | 0 | 0 | |
One year ago | 231 | 245 | |
Two years ago | 0 | 938 | |
Three years ago | 950 | 71 | |
Four years ago | 67 | 0 | |
Prior | 942 | 1,050 | |
Total financing receivables | 2,190 | 2,304 | |
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 | 0 | |
Two years ago | 736 | 0 | |
Three years ago | 1,375 | 371 | |
Four years ago | 1,921 | 12,790 | |
Prior | 15,593 | 7,717 | |
Total financing receivables | 19,625 | 20,878 | |
Corporate borrowers | Non-Performing | Commercial Industrial And Other Companies In Japan [Member] | Japan | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Current fiscal year | 125 | 156 | |
One year ago | 126 | 457 | |
Two years ago | 445 | 1,392 | |
Three years ago | 408 | 124 | |
Four years ago | 133 | 392 | |
Prior | 455 | 773 | |
Total financing receivables | 1,692 | 3,294 | |
Corporate borrowers | Non-Performing | Commercial Industrial And Other Companies In Overseas [Member] | Overseas | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Current fiscal year | 126 | 256 | |
One year ago | 6,067 | 2,418 | |
Two years ago | 2,559 | 1,808 | |
Three years ago | 4,120 | 2,594 | |
Four years ago | 2,062 | 1,380 | |
Prior | 8,941 | 10,069 | |
Total financing receivables | 23,875 | 18,525 | |
Purchased loans | Performing | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Current fiscal year | 0 | 0 | |
One year ago | 399 | 0 | |
Two years ago | 0 | 24 | |
Three years ago | 22 | 281 | |
Four years ago | 411 | 1,072 | |
Prior | 11,431 | 10,885 | |
Total financing receivables | 12,263 | 12,262 | |
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 | 0 | |
Four years ago | 0 | 0 | |
Prior | 1,019 | 1,485 | |
Total financing receivables | 1,019 | 1,485 | |
Net investment in leases | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total financing receivables | 1,081,811 | 1,057,973 | |
Net investment in leases | Japan | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total financing receivables | 639,117 | 652,455 | |
Net investment in leases | Overseas | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total financing receivables | 442,694 | 405,518 | |
Net investment in leases | Performing | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Current fiscal year | 344,973 | 328,428 | |
One year ago | 291,705 | 249,106 | |
Two years ago | 158,474 | 190,125 | |
Three years ago | 119,810 | 113,190 | |
Four years ago | 63,666 | 77,683 | |
Prior | 85,668 | 80,217 | |
Total financing receivables | 1,064,296 | 1,038,749 | |
Net investment in leases | Performing | Japan | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Current fiscal year | 150,756 | 119,538 | |
One year ago | 148,036 | 154,757 | |
Two years ago | 109,244 | 133,589 | |
Three years ago | 90,976 | 91,691 | |
Four years ago | 53,106 | 68,087 | |
Prior | 81,867 | 78,283 | |
Total financing receivables | 633,985 | 645,945 | |
Net investment in leases | Performing | Overseas | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Current fiscal year | 194,217 | 208,890 | |
One year ago | 143,669 | 94,349 | |
Two years ago | 49,230 | 56,536 | |
Three years ago | 28,834 | 21,499 | |
Four years ago | 10,560 | 9,596 | |
Prior | 3,801 | 1,934 | |
Total financing receivables | 430,311 | 392,804 | |
Net investment in leases | Non-Performing | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Current fiscal year | 2,369 | 2,608 | |
One year ago | 3,381 | 2,899 | |
Two years ago | 2,163 | 3,474 | |
Three years ago | 2,254 | 2,787 | |
Four years ago | 1,747 | 2,178 | |
Prior | 5,601 | 5,278 | |
Total financing receivables | 17,515 | 19,224 | |
Net investment in leases | Non-Performing | Japan | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Current fiscal year | 106 | 402 | |
One year ago | 513 | 605 | |
Two years ago | 655 | 1,044 | |
Three years ago | 817 | 1,103 | |
Four years ago | 794 | 1,247 | |
Prior | 2,247 | 2,109 | |
Total financing receivables | 5,132 | 6,510 | |
Net investment in leases | Non-Performing | Overseas | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Current fiscal year | 2,263 | 2,206 | |
One year ago | 2,868 | 2,294 | |
Two years ago | 1,508 | 2,430 | |
Three years ago | 1,437 | 1,684 | |
Four years ago | 953 | 931 | |
Prior | 3,354 | 3,169 | |
Total financing receivables | 12,383 | 12,714 | |
Other financial assets measured at amortized cost | Performing | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Current fiscal year | 2,361 | 14,287 | |
One year ago | 0 | 2,220 | |
Two years ago | 2,090 | 345 | |
Three years ago | 282 | 0 | |
Four years ago | 0 | 817 | |
Prior | 32,182 | 17,743 | |
Total financing receivables | 36,915 | 35,412 | |
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 | 0 | 58 | |
Three years ago | 0 | 0 | |
Four years ago | 0 | 1,586 | |
Prior | 917 | 0 | |
Total financing receivables | ¥ 917 | ¥ 1,644 | |
[1]Other in loans to consumer borrowers includes claims receivable arising from payments on guarantee of consumer loans. For further information, see Note 23 “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 | Dec. 31, 2022 | Mar. 31, 2022 |
Performing | ||
Details Of Financial Assets Including Revolving Repayment Card Loans [Line Items] | ||
Revolving repayment card loans | ¥ 165,590 | ¥ 169,601 |
Modification of collection condition by relief of contract condition | 0 | 0 |
Total—revolving repayment card loans | 165,590 | 169,601 |
Total— origination year (excluding revolving repayment card loans) | 4,572,455 | 4,519,699 |
Total— financial assets measured at amortized cost | 4,738,045 | 4,689,300 |
Non-Performing | ||
Details Of Financial Assets Including Revolving Repayment Card Loans [Line Items] | ||
Revolving repayment card loans | 1,347 | 671 |
Modification of collection condition by relief of contract condition | 3,528 | 3,415 |
Total—revolving repayment card loans | 4,875 | 4,086 |
Total— origination year (excluding revolving repayment card loans) | 104,260 | 102,099 |
Total— financial assets measured at amortized cost | ¥ 109,135 | ¥ 106,185 |
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 | Dec. 31, 2022 | Mar. 31, 2022 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | ¥ 4,796,066 | ¥ 4,744,682 |
Past-due financing assets [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | 75,873 | 89,663 |
30 To 89 Days Past Due | Past-due financing assets [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | 23,531 | 34,345 |
90 Days or More Past Due | Past-due financing assets [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | 52,342 | 55,318 |
Consumer borrowers | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | 2,356,501 | 2,343,030 |
Consumer borrowers | Past-due financing assets [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | 12,474 | 9,820 |
Consumer borrowers | 30 To 89 Days Past Due | Past-due financing assets [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | 3,704 | 4,183 |
Consumer borrowers | 90 Days or More Past Due | Past-due financing assets [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | 8,770 | 5,637 |
Consumer borrowers | Consumer - Real Estate Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | 2,120,065 | 2,113,430 |
Consumer borrowers | Consumer - Real Estate Loans | Past-due financing assets [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | 3,364 | 3,735 |
Consumer borrowers | Consumer - Real Estate Loans | 30 To 89 Days Past Due | Past-due financing assets [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | 1,135 | 1,473 |
Consumer borrowers | Consumer - Real Estate Loans | 90 Days or More Past Due | Past-due financing assets [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | 2,229 | 2,262 |
Consumer borrowers | Consumer-Card loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | 170,465 | 173,687 |
Consumer borrowers | Consumer-Card loans | Past-due financing assets [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | 1,648 | 874 |
Consumer borrowers | Consumer-Card loans | 30 To 89 Days Past Due | Past-due financing assets [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | 490 | 371 |
Consumer borrowers | Consumer-Card loans | 90 Days or More Past Due | Past-due financing assets [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | 1,158 | 503 |
Consumer borrowers | Consumer - Other | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | 65,971 | 55,913 |
Consumer borrowers | Consumer - Other | Past-due financing assets [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | 7,462 | 5,211 |
Consumer borrowers | Consumer - Other | 30 To 89 Days Past Due | Past-due financing assets [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | 2,079 | 2,339 |
Consumer borrowers | Consumer - Other | 90 Days or More Past Due | Past-due financing assets [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | 5,383 | 2,872 |
Corporate borrowers | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | 1,357,754 | 1,343,679 |
Corporate borrowers | Past-due financing assets [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | 34,747 | 52,775 |
Corporate borrowers | 30 To 89 Days Past Due | Past-due financing assets [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | 7,193 | 20,840 |
Corporate borrowers | 90 Days or More Past Due | Past-due financing assets [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | 27,554 | 31,935 |
Corporate borrowers | Non-recourse Loans | Japan | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | 110,453 | 74,085 |
Corporate borrowers | Non-recourse Loans | Japan | Past-due financing assets [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | 0 | 0 |
Corporate borrowers | Non-recourse Loans | The Americas | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | 39,478 | 80,918 |
Corporate borrowers | Non-recourse Loans | The Americas | Past-due financing assets [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | 1,484 | 3,556 |
Corporate borrowers | Non-recourse Loans | 30 To 89 Days Past Due | Japan | Past-due financing assets [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | 0 | 0 |
Corporate borrowers | Non-recourse Loans | 30 To 89 Days Past Due | The Americas | Past-due financing assets [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | 0 | 514 |
Corporate borrowers | Non-recourse Loans | 90 Days or More Past Due | Japan | Past-due financing assets [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | 0 | 0 |
Corporate borrowers | Non-recourse Loans | 90 Days or More Past Due | The Americas | Past-due financing assets [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | 1,484 | 3,042 |
Corporate borrowers | Real estate companies in Japan | Japan | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | 282,735 | 278,607 |
Corporate borrowers | Real estate companies in Japan | Japan | Past-due financing assets [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | 464 | 928 |
Corporate borrowers | Real estate companies in Japan | 30 To 89 Days Past Due | Japan | Past-due financing assets [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | 181 | 578 |
Corporate borrowers | Real estate companies in Japan | 90 Days or More Past Due | Japan | Past-due financing assets [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | 283 | 350 |
Corporate borrowers | Real estate companies in overseas | Overseas | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | 89,588 | 121,851 |
Corporate borrowers | Real estate companies in overseas | Overseas | Past-due financing assets [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | 19,625 | 36,992 |
Corporate borrowers | Real estate companies in overseas | 30 To 89 Days Past Due | Overseas | Past-due financing assets [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | 0 | 16,113 |
Corporate borrowers | Real estate companies in overseas | 90 Days or More Past Due | Overseas | Past-due financing assets [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | 19,625 | 20,879 |
Corporate borrowers | Commercial, industrial and other companies in Japan | Japan | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | 160,979 | 164,132 |
Corporate borrowers | Commercial, industrial and other companies in Japan | Japan | Past-due financing assets [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | 2,776 | 2,511 |
Corporate borrowers | Commercial, industrial and other companies in Japan | 30 To 89 Days Past Due | Japan | Past-due financing assets [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | 1,428 | 1,243 |
Corporate borrowers | Commercial, industrial and other companies in Japan | 90 Days or More Past Due | Japan | Past-due financing assets [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | 1,348 | 1,268 |
Corporate borrowers | Commercial, industrial and other companies in overseas | Overseas | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | 674,521 | 624,086 |
Corporate borrowers | Commercial, industrial and other companies in overseas | Overseas | Past-due financing assets [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | 10,398 | 8,788 |
Corporate borrowers | Commercial, industrial and other companies in overseas | 30 To 89 Days Past Due | Overseas | Past-due financing assets [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | 5,584 | 2,392 |
Corporate borrowers | Commercial, industrial and other companies in overseas | 90 Days or More Past Due | Overseas | Past-due financing assets [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | 4,814 | 6,396 |
Net investment in leases | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | 1,081,811 | 1,057,973 |
Net investment in leases | Past-due financing assets [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | 28,652 | 27,068 |
Net investment in leases | Japan | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | 639,117 | 652,455 |
Net investment in leases | Japan | Past-due financing assets [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | 6,729 | 8,034 |
Net investment in leases | Overseas | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | 442,694 | 405,518 |
Net investment in leases | Overseas | Past-due financing assets [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | 21,923 | 19,034 |
Net investment in leases | 30 To 89 Days Past Due | Past-due financing assets [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | 12,634 | 9,322 |
Net investment in leases | 30 To 89 Days Past Due | Japan | Past-due financing assets [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | 2,182 | 2,252 |
Net investment in leases | 30 To 89 Days Past Due | Overseas | Past-due financing assets [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | 10,452 | 7,070 |
Net investment in leases | 90 Days or More Past Due | Past-due financing assets [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | 16,018 | 17,746 |
Net investment in leases | 90 Days or More Past Due | Japan | Past-due financing assets [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | 4,547 | 5,782 |
Net investment in leases | 90 Days or More Past Due | Overseas | Past-due financing assets [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total financing receivables | ¥ 11,471 | ¥ 11,964 |
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 | 9 Months Ended | 12 Months Ended |
Dec. 31, 2022 | Mar. 31, 2022 | |
Dislcosure Detail Of Non Accrual Of Financial Assets [Line Items] | ||
Beginning balance | ¥ 73,401 | ¥ 81,308 |
Ending balance | 75,452 | 73,401 |
Interest income recognized during the reporting period | 420 | 690 |
Balance not associated allowance for credit losses among financial assets measured at amortized cost, which is suspending recognition of income | 3,270 | 4,296 |
Consumer borrowers | Japan Real Estate Loans [Member] | ||
Dislcosure Detail Of Non Accrual Of Financial Assets [Line Items] | ||
Beginning balance | 1,824 | 1,976 |
Ending balance | 1,728 | 1,824 |
Interest income recognized during the reporting period | 175 | 193 |
Balance not associated allowance for credit losses among financial assets measured at amortized cost, which is suspending recognition of income | 218 | 21 |
Consumer borrowers | Overseas Real Estate Loans [Member] | ||
Dislcosure Detail Of Non Accrual Of Financial Assets [Line Items] | ||
Beginning balance | 475 | 570 |
Ending balance | 568 | 475 |
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 | 129 |
Consumer borrowers | Japan Card Loans [Member] | ||
Dislcosure Detail Of Non Accrual Of Financial Assets [Line Items] | ||
Beginning balance | 503 | 1,115 |
Ending balance | 1,160 | 503 |
Interest income recognized during the reporting period | 22 | 35 |
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 | 2,391 | 5,970 |
Ending balance | 4,778 | 2,391 |
Interest income recognized during the reporting period | 134 | 208 |
Balance not associated allowance for credit losses among financial assets measured at amortized cost, which is suspending recognition of income | 11 | 0 |
Consumer borrowers | Overseas Other [Member] | ||
Dislcosure Detail Of Non Accrual Of Financial Assets [Line Items] | ||
Beginning balance | 519 | 691 |
Ending balance | 639 | 519 |
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 | 39 |
Corporate borrowers | Overseas Non Recourse Loans [Member] | ||
Dislcosure Detail Of Non Accrual Of Financial Assets [Line Items] | ||
Beginning balance | 8,787 | 10,148 |
Ending balance | 3,281 | 8,787 |
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 | 351 | 778 |
Ending balance | 283 | 351 |
Interest income recognized during the reporting period | 39 | 51 |
Balance not associated allowance for credit losses among financial assets measured at amortized cost, which is suspending recognition of income | 15 | 61 |
Corporate borrowers | Overseas real estate companies [Member] | ||
Dislcosure Detail Of Non Accrual Of Financial Assets [Line Items] | ||
Beginning balance | 20,879 | 14,505 |
Ending balance | 19,625 | 20,879 |
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 | 1,267 | 1,993 |
Ending balance | 1,348 | 1,267 |
Interest income recognized during the reporting period | 50 | 91 |
Balance not associated allowance for credit losses among financial assets measured at amortized cost, which is suspending recognition of income | 67 | 28 |
Corporate borrowers | Overseas commercial, industrial companies and other [Member] | ||
Dislcosure Detail Of Non Accrual Of Financial Assets [Line Items] | ||
Beginning balance | 18,634 | 26,396 |
Ending balance | 24,741 | 18,634 |
Interest income recognized during the reporting period | 0 | 112 |
Balance not associated allowance for credit losses among financial assets measured at amortized cost, which is suspending recognition of income | 2,959 | 4,018 |
Net investment in leases | ||
Dislcosure Detail Of Non Accrual Of Financial Assets [Line Items] | ||
Beginning balance | 17,771 | 17,166 |
Ending balance | 17,301 | 17,771 |
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 | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | |
Financing Receivable, Modifications [Line Items] | ||||
Pre-modification outstanding recorded investment | ¥ 2,037 | ¥ 3,071 | ¥ 14,229 | ¥ 12,114 |
Post-modification outstanding recorded investment | 1,634 | 1,869 | 13,021 | 9,796 |
Consumer borrowers | ||||
Financing Receivable, Modifications [Line Items] | ||||
Pre-modification outstanding recorded investment | 1,806 | 2,933 | 5,785 | 6,980 |
Post-modification outstanding recorded investment | 1,404 | 1,735 | 4,579 | 4,796 |
Consumer borrowers | Consumer - Real Estate Loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Pre-modification outstanding recorded investment | 4 | 10 | 9 | 14 |
Post-modification outstanding recorded investment | 1 | 5 | 4 | 6 |
Consumer borrowers | Consumer-Card loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Pre-modification outstanding recorded investment | 366 | 417 | 1,079 | 1,108 |
Post-modification outstanding recorded investment | 317 | 316 | 936 | 844 |
Consumer borrowers | Consumer - Other | ||||
Financing Receivable, Modifications [Line Items] | ||||
Pre-modification outstanding recorded investment | 1,436 | 2,506 | 4,697 | 5,858 |
Post-modification outstanding recorded investment | 1,086 | 1,414 | 3,639 | 3,946 |
Corporate borrowers | ||||
Financing Receivable, Modifications [Line Items] | ||||
Pre-modification outstanding recorded investment | 231 | 138 | 8,444 | 5,134 |
Post-modification outstanding recorded investment | 230 | 134 | 8,442 | 5,000 |
Corporate borrowers | Real estate companies in Japan | Japan | ||||
Financing Receivable, Modifications [Line Items] | ||||
Pre-modification outstanding recorded investment | 231 | 231 | ||
Post-modification outstanding recorded investment | ¥ 230 | 230 | ||
Corporate borrowers | Commercial, industrial and other companies in overseas | Overseas | ||||
Financing Receivable, Modifications [Line Items] | ||||
Pre-modification outstanding recorded investment | 138 | 8,213 | 5,134 | |
Post-modification outstanding recorded investment | ¥ 134 | ¥ 8,212 | ¥ 5,000 |
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 | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | |
Financing Receivable, Modifications [Line Items] | ||||
Recorded investment | ¥ 195 | ¥ 196 | ¥ 2,189 | ¥ 673 |
Consumer borrowers | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded investment | 195 | 196 | 518 | 673 |
Consumer borrowers | Consumer - Real Estate Loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded investment | 4 | 4 | ||
Consumer borrowers | Consumer-Card loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded investment | 4 | 3 | 5 | 6 |
Consumer borrowers | Consumer - Other | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded investment | ¥ 191 | ¥ 189 | 513 | ¥ 663 |
Corporate borrowers | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded investment | 1,671 | |||
Corporate borrowers | Other than non-recourse loans | Commercial, industrial and other companies in overseas | ||||
Financing Receivable, Modifications [Line Items] | ||||
Recorded investment | ¥ 1,671 |
Credit Quality of Financial _14
Credit Quality of Financial Assets and the Allowance for Credit Losses - Additional Information (Detail) - JPY (¥) ¥ in Millions | Dec. 31, 2022 | Mar. 31, 2022 |
Loans for which real estate is received as collateral | Instalment loans | ||
Financing Receivable, Modifications [Line Items] | ||
Mortgage loans in process of foreclosure | ¥ 130 | ¥ 162 |
Investment in Securities (Summa
Investment in Securities (Summary of Investment in Securities) (Detail) - JPY (¥) ¥ in Millions | Dec. 31, 2022 | Mar. 31, 2022 | |
Equity securities | [1] | ¥ 561,116 | ¥ 560,643 |
Trading debt securities | 2,968 | 2,503 | |
Available-for-sale debt securities | 2,107,359 | 2,174,891 | |
Held-to-maturity debt securities | 114,757 | 114,312 | |
Total | ¥ 2,786,200 | ¥ 2,852,349 | |
[1]The amount of assets under management of variable annuity and variable life insurance contracts included in equity securities were ¥185,115 million and ¥149,314 million as of March 31, 2022 and December 31, 2022, respectively. The amount of investment funds that are accounted for under the equity method included in equity securities were ¥90,650 million and ¥90,709 million as of March 31, 2022 and December 31, 2022, respectively. The amount of investment funds elected for the fair value option included in equity securities, and others were ¥11,709 million and ¥15,002 million as of March 31, 2022 and December 31, 2022, respectively. |
Investment in Securities (Sum_2
Investment in Securities (Summary of Investment in Securities) (Parenthetical) (Detail) - JPY (¥) ¥ in Millions | Dec. 31, 2022 | Mar. 31, 2022 | |
Schedule of Investments [Line Items] | |||
Equity securities | ¥ 25,314 | ¥ 19,353 | |
Equity securities | [1] | 561,116 | 560,643 |
Investment Funds Elected for Fair Value Option | |||
Schedule of Investments [Line Items] | |||
Equity securities | 15,002 | 11,709 | |
Variable Annuity and Variable Life Insurance Contracts | |||
Schedule of Investments [Line Items] | |||
Equity securities | 149,314 | 185,115 | |
Investment funds that are accounted for under the equity method | |||
Schedule of Investments [Line Items] | |||
Equity securities | ¥ 90,709 | ¥ 90,650 | |
[1]The amount of assets under management of variable annuity and variable life insurance contracts included in equity securities were ¥185,115 million and ¥149,314 million as of March 31, 2022 and December 31, 2022, respectively. The amount of investment funds that are accounted for under the equity method included in equity securities were ¥90,650 million and ¥90,709 million as of March 31, 2022 and December 31, 2022, respectively. The amount of investment funds elected for the fair value option included in equity securities, and others were ¥11,709 million and ¥15,002 million as of March 31, 2022 and December 31, 2022, respectively. |
Investment in Securities - Addi
Investment in Securities - Additional Information (Detail) ¥ in Millions | 3 Months Ended | 9 Months Ended | |||
Dec. 31, 2022 JPY (¥) Investment | Dec. 31, 2021 JPY (¥) | Dec. 31, 2022 JPY (¥) Investment | Dec. 31, 2021 JPY (¥) | Mar. 31, 2022 JPY (¥) Investment | |
Schedule of Investments [Line Items] | |||||
Net unrealized holding gains (losses) on trading securities | ¥ 12,272 | ¥ (427) | ¥ (2,851) | ¥ 30,891 | |
Investment funds fair value | ¥ 25,314 | ¥ 25,314 | ¥ 19,353 | ||
Number of investment securities in an unrealized loss position | Investment | 1,301 | 1,301 | 963 | ||
Debt securities available-for-sale accrued interest, after allowance for credit loss | ¥ 10,848 | ¥ 10,848 | ¥ 8,798 | ||
Debt Securities, Available-for-Sale, Allowance for Credit Loss | 159 | 0 | 159 | 0 | 153 |
Accrued Interest Receivables [Member] | |||||
Schedule of Investments [Line Items] | |||||
Allowance for credit loss of accrued interest | 0 | 0 | 0 | ||
Equity securities | |||||
Schedule of Investments [Line Items] | |||||
Investment funds fair value | 15,002 | 15,002 | 11,709 | ||
Trading Debt Securities | |||||
Schedule of Investments [Line Items] | |||||
Net unrealized holding gains (losses) on trading debt securities | 62 | 43 | 259 | 131 | |
Available-for-sale securities | |||||
Schedule of Investments [Line Items] | |||||
Debt Securities, Available-for-Sale, Purchased credit deterioration financial assets | 0 | ¥ 0 | 0 | ¥ 0 | |
Available-for-sale securities | Foreign Government Bond Securities | |||||
Schedule of Investments [Line Items] | |||||
Investment funds fair value | 238 | 238 | 0 | ||
Available-for-sale securities | Foreign Corporate Debt Securities | |||||
Schedule of Investments [Line Items] | |||||
Investment funds fair value | ¥ 10,074 | ¥ 10,074 | ¥ 7,644 |
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 | 3 Months Ended | 9 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | Mar. 31, 2022 | |
Schedule Of Gain Loss On Investments Held At Cost Balance Sheet and Income Statement Reported Amounts Summary [Line Items] | |||||
Carrying value | ¥ 68,952 | ¥ 68,952 | ¥ 58,723 | ||
Accumulated impairments and downward adjustments | (13,648) | (13,648) | (13,880) | ||
Accumulated upward adjustments | 1,530 | 1,530 | ¥ 401 | ||
Impairments and downward adjustments | 0 | ¥ (38) | (368) | ¥ (57) | |
Upward adjustments | ¥ 286 | ¥ 21 | ¥ 1,182 | ¥ 69 |
Investment in Securities (Amort
Investment in Securities (Amortized Cost Basis Amounts, Gross Unrealized Holding Gains, Gross Unrealized Holding Losses and Fair Values of Available-for-Sale Securities and Held-to-Maturity Securities in Each Major Security Type) (Detail) - JPY (¥) ¥ in Millions | Dec. 31, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
Schedule of Investments [Line Items] | |||
Available-for-sale debt securities, Amortized cost | ¥ 2,460,127 | ¥ 2,276,425 | |
Available-for-sale debt securities, Allowance for credit losses | (159) | (153) | ¥ 0 |
Available-for-sale debt securities, Gross unrealized gains | 12,825 | 23,242 | |
Available-for-sale debt securities, Gross unrealized losses | (365,434) | (124,623) | |
Available-for-sale debt securities, Fair value | 2,107,359 | 2,174,891 | |
Held-to-maturity securities, Amortized cost | 114,757 | 114,312 | |
Total amortized cost | 2,574,884 | 2,390,737 | |
Total allowance for credit losses | (159) | (153) | |
Total gross unrealized gains | 24,825 | 44,371 | |
Total gross unrealized losses | (365,887) | (124,623) | |
Total fair values | 2,233,663 | 2,310,332 | |
Japanese and foreign government bond securities | |||
Schedule of Investments [Line Items] | |||
Available-for-sale debt securities, Amortized cost | 971,869 | 905,004 | |
Available-for-sale debt securities, Allowance for credit losses | 0 | 0 | |
Available-for-sale debt securities, Gross unrealized gains | 1,607 | 5,178 | |
Available-for-sale debt securities, Gross unrealized losses | (227,391) | (77,569) | |
Available-for-sale debt securities, Fair value | 746,085 | 832,613 | |
Japanese prefectural and foreign municipal bond securities | |||
Schedule of Investments [Line Items] | |||
Available-for-sale debt securities, Amortized cost | 381,625 | 333,449 | |
Available-for-sale debt securities, Allowance for credit losses | (143) | (132) | |
Available-for-sale debt securities, Gross unrealized gains | 818 | 2,482 | |
Available-for-sale debt securities, Gross unrealized losses | (28,290) | (10,195) | |
Available-for-sale debt securities, Fair value | 354,010 | 325,604 | |
Corporate debt securities | |||
Schedule of Investments [Line Items] | |||
Available-for-sale debt securities, Amortized cost | 865,330 | 873,178 | |
Available-for-sale debt securities, Allowance for credit losses | 0 | 0 | |
Available-for-sale debt securities, Gross unrealized gains | 4,623 | 10,014 | |
Available-for-sale debt securities, Gross unrealized losses | (97,798) | (33,632) | |
Available-for-sale debt securities, Fair value | 772,155 | 849,560 | |
CMBS and RMBS in the Americas | |||
Schedule of Investments [Line Items] | |||
Available-for-sale debt securities, Amortized cost | 43,160 | 29,349 | |
Available-for-sale debt securities, Allowance for credit losses | 0 | 0 | |
Available-for-sale debt securities, Gross unrealized gains | 44 | 112 | |
Available-for-sale debt securities, Gross unrealized losses | (2,262) | (729) | |
Available-for-sale debt securities, Fair value | 40,942 | 28,732 | |
Other asset-backed securities and debt securities | |||
Schedule of Investments [Line Items] | |||
Available-for-sale debt securities, Amortized cost | 198,143 | 135,445 | |
Available-for-sale debt securities, Allowance for credit losses | (16) | (21) | |
Available-for-sale debt securities, Gross unrealized gains | 5,733 | 5,456 | |
Available-for-sale debt securities, Gross unrealized losses | (9,693) | (2,498) | |
Available-for-sale debt securities, Fair value | 194,167 | 138,382 | |
Japanese government bond securities and other | |||
Schedule of Investments [Line Items] | |||
Held-to-maturity securities, Amortized cost | 114,757 | 114,312 | |
Held-to-maturity securities, Allowance for credit losses | 0 | 0 | |
Held-to-maturity securities, Gross unrealized gains | 12,000 | 21,129 | |
Held-to-maturity securities, Gross unrealized losses | (453) | 0 | |
Held-to-maturity securities, Fair value | ¥ 126,304 | ¥ 135,441 |
Investment in Securities (Sum_3
Investment in Securities (Summary of Roll-forward of Allowance for Credit Losses) (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | |
Accounts And Financing Receivable For Credit Losses [Line Items] | ||||
Beginning | ¥ 172 | ¥ 121 | ¥ 153 | ¥ 120 |
Additional increases (decreases) to the allowance for credit losses on AFS debt securities that had an allowance recorded in a previous period, net | (5) | |||
Increase (Decrease) from the effects of changes in foreign exchange rates | (13) | 3 | 11 | 4 |
Ending | 159 | 124 | 159 | 124 |
Foreign municipal bond securities | ||||
Accounts And Financing Receivable For Credit Losses [Line Items] | ||||
Beginning | 156 | 121 | 132 | 120 |
Additional increases (decreases) to the allowance for credit losses on AFS debt securities that had an allowance recorded in a previous period, net | 0 | |||
Increase (Decrease) from the effects of changes in foreign exchange rates | (13) | 3 | 11 | 4 |
Ending | 143 | ¥ 124 | 143 | ¥ 124 |
Japanese other asset- backed securities and debt securities | ||||
Accounts And Financing Receivable For Credit Losses [Line Items] | ||||
Beginning | 16 | 21 | ||
Additional increases (decreases) to the allowance for credit losses on AFS debt securities that had an allowance recorded in a previous period, net | (5) | |||
Increase (Decrease) from the effects of changes in foreign exchange rates | 0 | 0 | ||
Ending | ¥ 16 | ¥ 16 |
Investment in Securities (Inf_2
Investment in Securities (Information about Available-for-Sale and Held-to-Maturity Securities with Gross Unrealized Losses and Length of Time that Individual Securities Have Been in Continuous Unrealized Loss Position) (Detail) - JPY (¥) ¥ in Millions | Dec. 31, 2022 | Mar. 31, 2022 |
Japanese and foreign government bond securities | ||
Investments, Unrealized Loss Position [Line Items] | ||
Available-for-sale debt Securities, Less than 12 months Fair value | ¥ 156,264 | ¥ 217,457 |
Available-for-sale debt Securities, Less than 12 months Gross unrealized losses | (41,597) | (16,117) |
Available-for-sale debt Securities, 12 months or more Fair value | 547,801 | 521,633 |
Available-for-sale debt Securities, 12 months or more Gross unrealized losses | (185,794) | (61,452) |
Available-for-sale debt Securities, Total Fair value | 704,065 | 739,090 |
Available-for-sale debt Securities, Total Gross unrealized losses | (227,391) | (77,569) |
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 | 156,264 | 217,457 |
Available-for-sale debt Securities, Less than 12 months Gross unrealized losses | (41,597) | (16,117) |
Available-for-sale debt Securities, 12 months or more Fair value | 547,801 | 521,633 |
Available-for-sale debt Securities, 12 months or more Gross unrealized losses | (185,794) | (61,452) |
Available-for-sale debt Securities, Total Fair value | 704,065 | 739,090 |
Available-for-sale debt Securities, Total Gross unrealized losses | (227,391) | (77,569) |
Japanese prefectural and foreign municipal bond securities | ||
Investments, Unrealized Loss Position [Line Items] | ||
Available-for-sale debt Securities, Less than 12 months Fair value | 200,136 | 190,081 |
Available-for-sale debt Securities, Less than 12 months Gross unrealized losses | (13,159) | (6,509) |
Available-for-sale debt Securities, 12 months or more Fair value | 117,775 | 46,391 |
Available-for-sale debt Securities, 12 months or more Gross unrealized losses | (15,274) | (3,818) |
Available-for-sale debt Securities, Total Fair value | 317,911 | 236,472 |
Available-for-sale debt Securities, Total Gross unrealized losses | (28,433) | (10,327) |
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 | 200,136 | 190,081 |
Available-for-sale debt Securities, Less than 12 months Gross unrealized losses | (13,159) | (6,509) |
Available-for-sale debt Securities, 12 months or more Fair value | 114,322 | 43,338 |
Available-for-sale debt Securities, 12 months or more Gross unrealized losses | (15,131) | (3,686) |
Available-for-sale debt Securities, Total Fair value | 314,458 | 233,419 |
Available-for-sale debt Securities, Total Gross unrealized losses | (28,290) | (10,195) |
Corporate debt securities | ||
Investments, Unrealized Loss Position [Line Items] | ||
Available-for-sale debt Securities, Less than 12 months Fair value | 374,243 | 373,506 |
Available-for-sale debt Securities, Less than 12 months Gross unrealized losses | (35,676) | (19,340) |
Available-for-sale debt Securities, 12 months or more Fair value | 243,218 | 156,687 |
Available-for-sale debt Securities, 12 months or more Gross unrealized losses | (62,122) | (14,292) |
Available-for-sale debt Securities, Total Fair value | 617,461 | 530,193 |
Available-for-sale debt Securities, Total Gross unrealized losses | (97,798) | (33,632) |
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 | 374,243 | 373,506 |
Available-for-sale debt Securities, Less than 12 months Gross unrealized losses | (35,676) | (19,340) |
Available-for-sale debt Securities, 12 months or more Fair value | 243,218 | 156,687 |
Available-for-sale debt Securities, 12 months or more Gross unrealized losses | (62,122) | (14,292) |
Available-for-sale debt Securities, Total Fair value | 617,461 | 530,193 |
Available-for-sale debt Securities, Total Gross unrealized losses | (97,798) | (33,632) |
CMBS and RMBS in the Americas | ||
Investments, Unrealized Loss Position [Line Items] | ||
Available-for-sale debt Securities, Less than 12 months Fair value | 26,455 | 6,458 |
Available-for-sale debt Securities, Less than 12 months Gross unrealized losses | (1,749) | (98) |
Available-for-sale debt Securities, 12 months or more Fair value | 9,400 | 17,542 |
Available-for-sale debt Securities, 12 months or more Gross unrealized losses | (513) | (631) |
Available-for-sale debt Securities, Total Fair value | 35,855 | 24,000 |
Available-for-sale debt Securities, Total Gross unrealized losses | (2,262) | (729) |
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 | 26,455 | 6,458 |
Available-for-sale debt Securities, Less than 12 months Gross unrealized losses | (1,749) | (98) |
Available-for-sale debt Securities, 12 months or more Fair value | 9,400 | 17,542 |
Available-for-sale debt Securities, 12 months or more Gross unrealized losses | (513) | (631) |
Available-for-sale debt Securities, Total Fair value | 35,855 | 24,000 |
Available-for-sale debt Securities, Total Gross unrealized losses | (2,262) | (729) |
Other asset-backed securities and debt securities | ||
Investments, Unrealized Loss Position [Line Items] | ||
Available-for-sale debt Securities, Less than 12 months Fair value | 115,803 | 66,543 |
Available-for-sale debt Securities, Less than 12 months Gross unrealized losses | (5,804) | (995) |
Available-for-sale debt Securities, 12 months or more Fair value | 40,257 | 37,432 |
Available-for-sale debt Securities, 12 months or more Gross unrealized losses | (3,905) | (1,524) |
Available-for-sale debt Securities, Total Fair value | 156,060 | 103,975 |
Available-for-sale debt Securities, Total Gross unrealized losses | (9,709) | (2,519) |
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 | 115,744 | 66,489 |
Available-for-sale debt Securities, Less than 12 months Gross unrealized losses | (5,788) | (974) |
Available-for-sale debt Securities, 12 months or more Fair value | 40,257 | 37,432 |
Available-for-sale debt Securities, 12 months or more Gross unrealized losses | (3,905) | (1,524) |
Available-for-sale debt Securities, Total Fair value | 156,001 | 103,921 |
Available-for-sale debt Securities, Total Gross unrealized losses | (9,693) | (2,498) |
Available-for-sale debt securities | ||
Investments, Unrealized Loss Position [Line Items] | ||
Available-for-sale debt Securities, Less than 12 months Fair value | 872,901 | 854,045 |
Available-for-sale debt Securities, Less than 12 months Gross unrealized losses | (97,985) | (43,059) |
Available-for-sale debt Securities, 12 months or more Fair value | 958,451 | 779,685 |
Available-for-sale debt Securities, 12 months or more Gross unrealized losses | (267,608) | (81,717) |
Available-for-sale debt Securities, Total Fair value | 1,831,352 | 1,633,730 |
Available-for-sale debt Securities, Total Gross unrealized losses | (365,593) | (124,776) |
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 | 872,842 | 853,991 |
Available-for-sale debt Securities, Less than 12 months Gross unrealized losses | (97,969) | (43,038) |
Available-for-sale debt Securities, 12 months or more Fair value | 954,998 | 776,632 |
Available-for-sale debt Securities, 12 months or more Gross unrealized losses | (267,465) | (81,585) |
Available-for-sale debt Securities, Total Fair value | 1,827,840 | 1,630,623 |
Available-for-sale debt Securities, Total Gross unrealized losses | ¥ (365,434) | ¥ (124,623) |
Transfer of Financial Assets -
Transfer of Financial Assets - Additional Information (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | |
Transfer of Financial Assets Accounted for as Sales [Line Items] | ||||
Gain (losses) on sale from securitization and loan sales | ¥ 3,902 | ¥ 9,844 | ¥ 15,058 | ¥ 28,481 |
Installment Loans | ||||
Transfer of Financial Assets Accounted for as Sales [Line Items] | ||||
Installment loans | ¥ 220,876 | ¥ 415,127 | ¥ 733,032 | ¥ 1,023,249 |
Transfer of Financial Assets _2
Transfer of Financial Assets - Roll-Forwards of Amount of Servicing Assets (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | |
Transfers and Servicing [Abstract] | ||||
Beginning balance | ¥ 80,190 | ¥ 65,238 | ¥ 70,254 | ¥ 63,754 |
Increase mainly from loans sold with servicing retained | 2,724 | 2,711 | 8,150 | 9,849 |
Decrease mainly from amortization | (3,062) | (3,683) | (11,208) | (10,045) |
Increase from the effects of changes in foreign exchange rates | (6,687) | 1,794 | 5,969 | 2,502 |
Ending balance | ¥ 73,165 | ¥ 66,060 | ¥ 73,165 | ¥ 66,060 |
Transfer of Financial Assets _3
Transfer of Financial Assets - Fair Value of Servicing Assets (Detail) - JPY (¥) ¥ in Millions | Dec. 31, 2022 | Mar. 31, 2022 |
Transfers and Servicing [Abstract] | ||
Beginning balance | ¥ 83,732 | ¥ 74,135 |
Ending balance | ¥ 94,657 | ¥ 83,732 |
Variable Interest Entities (Inf
Variable Interest Entities (Information about Consolidated VIEs) (Detail) - JPY (¥) ¥ in Millions | Dec. 31, 2022 | Mar. 31, 2022 | |
Variable Interest Entity [Line Items] | |||
Total assets | ¥ 14,553,890 | ¥ 14,270,672 | |
Total Liabilities | 11,194,692 | 10,899,271 | |
Variable Interest Entity, Primary Beneficiary [Member] | |||
Variable Interest Entity [Line Items] | |||
Total assets | 573,584 | 675,948 | |
Total Liabilities | 382,902 | 472,454 | |
Variable Interest Entity, Primary Beneficiary [Member] | Consolidated VIEs [Member] | |||
Variable Interest Entity [Line Items] | |||
Total assets | [1] | 886,799 | 897,964 |
Total Liabilities | [1] | 401,269 | 483,558 |
Assets which are pledged as collateral | [2] | 573,584 | 675,948 |
Commitments | [3] | 103,083 | 87,983 |
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] | 2,031 | 1,988 |
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] | 55,989 | 60,762 |
Total Liabilities | [1] | 13,056 | 12,576 |
Assets which are pledged as collateral | [2] | 16,260 | 16,241 |
Commitments | [3] | 0 | 0 |
Corporate rehabilitation support business | Variable Interest Entity, Primary Beneficiary [Member] | Consolidated VIEs [Member] | |||
Variable Interest Entity [Line Items] | |||
Total assets | [1] | 679 | 214 |
Total Liabilities | [1] | 6 | 5 |
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] | 165,132 | 132,805 |
Total Liabilities | [1] | 401 | 302 |
Assets which are pledged as collateral | [2] | 0 | 0 |
Commitments | [3] | 65,005 | 45,241 |
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] | 225,709 | 223,807 |
Total Liabilities | [1] | 157,468 | 160,434 |
Assets which are pledged as collateral | [2] | 225,709 | 223,807 |
Commitments | [3] | 0 | 0 |
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] | 553 | 542 |
Total Liabilities | [1] | 1,103 | 1,093 |
Assets which are pledged as collateral | [2] | 553 | 542 |
Commitments | [3] | 0 | 0 |
Power generation projects | Variable Interest Entity, Primary Beneficiary [Member] | Consolidated VIEs [Member] | |||
Variable Interest Entity [Line Items] | |||
Total assets | [1] | 269,682 | 278,660 |
Total Liabilities | [1] | 165,137 | 219,476 |
Assets which are pledged as collateral | [2] | 193,428 | 260,551 |
Commitments | [3] | 38,078 | 42,742 |
Other VIEs | Variable Interest Entity, Primary Beneficiary [Member] | Consolidated VIEs [Member] | |||
Variable Interest Entity [Line Items] | |||
Total assets | [1] | 167,024 | 199,186 |
Total Liabilities | [1] | 64,098 | 89,672 |
Assets which are pledged as collateral | [2] | 137,634 | 174,807 |
Commitments | [3] | ¥ 0 | ¥ 0 |
[1]The assets of most VIEs are used only to repay the liabilities of the VIEs, and the creditors of the liabilities of most VIEs have no recourse to other assets of the Company and its subsidiaries.[2]The assets are pledged as collateral by VIE for financing of the VIE.[3]This item represents remaining balance of commitments that could require the Company and its subsidiaries to provide investments or loans to the VIE. |
Variable Interest Entities (I_2
Variable Interest Entities (Information about Non-consolidated VIEs) (Detail) - JPY (¥) ¥ in Millions | Dec. 31, 2022 | Mar. 31, 2022 | |
Variable Interest Entity [Line Items] | |||
Total assets | ¥ 14,553,890 | ¥ 14,270,672 | |
Non Consolidated VIEs [Member] | |||
Variable Interest Entity [Line Items] | |||
Non-recourse loans | 14,874 | 11,679 | |
Investments | 144,798 | 119,916 | |
Maximum exposure to loss | [1] | 243,303 | 191,586 |
Non Consolidated VIEs [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | |||
Variable Interest Entity [Line Items] | |||
Total assets | 12,732,524 | 9,617,334 | |
Liquidating customer assets | Non Consolidated VIEs [Member] | |||
Variable Interest Entity [Line Items] | |||
Non-recourse loans | 0 | 405 | |
Investments | 991 | 991 | |
Maximum exposure to loss | [1] | 991 | 1,396 |
Liquidating customer assets | Non Consolidated VIEs [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | |||
Variable Interest Entity [Line Items] | |||
Total assets | 8,269 | 13,391 | |
Acquisition of real estate and real estate development projects for customers | Non Consolidated VIEs [Member] | |||
Variable Interest Entity [Line Items] | |||
Non-recourse loans | 11,562 | 8,134 | |
Investments | 8,747 | 9,119 | |
Maximum exposure to loss | [1] | 21,791 | 18,735 |
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 | 599,546 | 546,953 | |
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 | 95,958 | 79,050 | |
Maximum exposure to loss | [1] | 162,354 | 123,674 |
Investment in securities | Non Consolidated VIEs [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | |||
Variable Interest Entity [Line Items] | |||
Total assets | 9,705,860 | 6,901,686 | |
Securitizing financial assets such as finance lease receivable and loan receivable | Non Consolidated VIEs [Member] | |||
Variable Interest Entity [Line Items] | |||
Non-recourse loans | 0 | 0 | |
Investments | 0 | 2 | |
Maximum exposure to loss | [1] | 0 | 2 |
Securitizing financial assets such as finance lease receivable and loan receivable | Non Consolidated VIEs [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | |||
Variable Interest Entity [Line Items] | |||
Total assets | 0 | 154 | |
Securitization of loan receivable originated by third parties | Non Consolidated VIEs [Member] | |||
Variable Interest Entity [Line Items] | |||
Non-recourse loans | 0 | 0 | |
Investments | 13,499 | 15,254 | |
Maximum exposure to loss | [1] | 13,499 | 15,254 |
Securitization of loan receivable originated by third parties | Non Consolidated VIEs [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | |||
Variable Interest Entity [Line Items] | |||
Total assets | 932,798 | 1,231,246 | |
Power generation projects | Non Consolidated VIEs [Member] | |||
Variable Interest Entity [Line Items] | |||
Non-recourse loans | 0 | 0 | |
Investments | 562 | 402 | |
Maximum exposure to loss | [1] | 4,892 | 402 |
Power generation projects | Non Consolidated VIEs [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | |||
Variable Interest Entity [Line Items] | |||
Total assets | 9,091 | 9,103 | |
Other VIEs | Non Consolidated VIEs [Member] | |||
Variable Interest Entity [Line Items] | |||
Non-recourse loans | 3,312 | 3,140 | |
Investments | 25,041 | 15,098 | |
Maximum exposure to loss | [1] | 39,776 | 32,123 |
Other VIEs | Non Consolidated VIEs [Member] | Variable Interest Entity, Not Primary Beneficiary [Member] | |||
Variable Interest Entity [Line Items] | |||
Total assets | ¥ 1,476,960 | ¥ 914,801 | |
[1]Maximum exposure to loss includes remaining balance of commitments that could require the Company and its subsidiaries to provide investments or loans to the VIE. |
Investment in Affiliates (Summa
Investment in Affiliates (Summary of Investment in Affiliates) (Detail) - JPY (¥) ¥ in Millions | Dec. 31, 2022 | Mar. 31, 2022 |
Investments in and Advances to Affiliates, Schedule of Investments [Abstract] | ||
Shares | ¥ 1,003,198 | ¥ 943,090 |
Loans and others | 37,382 | 34,943 |
Investment in Affiliates | ¥ 1,040,580 | ¥ 978,033 |
Redeemable Noncontrolling Int_3
Redeemable Noncontrolling Interests (Changes in Redeemable Noncontrolling Interests) (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | |
Statement of Stockholders' Equity [Abstract] | ||||
Beginning Balance | ¥ 0 | ¥ 0 | ||
Transaction with noncontrolling interests | 949 | 0 | ||
Comprehensive income | ||||
Net income | 23 | 0 | ||
Other comprehensive income | ||||
Net change of foreign currency translation adjustments | 2 | 0 | ||
Total other comprehensive income | 2 | 0 | ||
Comprehensive income | ¥ (75) | ¥ 0 | 25 | 0 |
Ending Balance | ¥ 974 | ¥ 0 | ¥ 974 | ¥ 0 |
Accumulated Other Comprehensi_3
Accumulated Other Comprehensive Income (Loss) (Changes in Components of Accumulated Other Comprehensive Income (Loss)) (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | |
Beginning Balance | ¥ 3,451,221 | ¥ 3,208,499 | ¥ 3,371,401 | ¥ 3,103,144 |
Total other comprehensive income (loss) | (113,559) | 33,213 | (54,056) | 58,723 |
Ending Balance | 3,358,224 | 3,244,765 | 3,358,224 | 3,244,765 |
Net unrealized gains (losses) on investment in securities | ||||
Beginning Balance | (216,759) | (7,888) | (72,892) | (16,208) |
Net unrealized gains (losses) | (38,088) | 4,302 | (181,083) | 16,680 |
Reclassification adjustment included in net income, net of tax | (428) | (49) | (1,300) | (4,107) |
Total other comprehensive income (loss) | (38,516) | 4,253 | (182,383) | 12,573 |
Transaction with noncontrolling interests | 0 | 0 | ||
Less: Other Comprehensive Income (loss) Attributable to the Noncontrolling Interests | 0 | 0 | 0 | 0 |
Less: Other Comprehensive Income (Loss) Attributable to the Redeemable Noncontrolling Interests | 0 | 0 | ||
Ending Balance | (255,275) | (3,635) | (255,275) | (3,635) |
Debt Valuation Adjustments | ||||
Beginning Balance | 281 | 497 | 221 | 558 |
Net unrealized gains (losses) | (45) | 14 | 21 | (32) |
Reclassification adjustment included in net income, net of tax | (3) | (7) | (9) | (22) |
Total other comprehensive income (loss) | (48) | 7 | 12 | (54) |
Transaction with noncontrolling interests | 0 | 0 | ||
Less: Other Comprehensive Income (loss) Attributable to the Noncontrolling Interests | 0 | 0 | 0 | 0 |
Less: Other Comprehensive Income (Loss) Attributable to the Redeemable Noncontrolling Interests | 0 | 0 | ||
Ending Balance | 233 | 504 | 233 | 504 |
Defined benefit pension plans | ||||
Beginning Balance | (8,390) | (20,923) | (8,072) | (21,073) |
Net unrealized gains (losses) | 171 | (72) | (54) | (110) |
Reclassification adjustment included in net income, net of tax | (47) | 89 | (138) | 276 |
Total other comprehensive income (loss) | 124 | 17 | (192) | 166 |
Transaction with noncontrolling interests | 0 | 0 | ||
Less: Other Comprehensive Income (loss) Attributable to the Noncontrolling Interests | (4) | 0 | (2) | (1) |
Less: Other Comprehensive Income (Loss) Attributable to the Redeemable Noncontrolling Interests | 0 | 0 | ||
Ending Balance | (8,262) | (20,906) | (8,262) | (20,906) |
Foreign currency translation adjustments | ||||
Beginning Balance | 239,035 | (22,139) | 61,914 | (36,456) |
Net unrealized gains (losses) | (79,909) | 25,173 | 105,084 | 39,553 |
Reclassification adjustment included in net income, net of tax | 2,144 | 247 | 2,246 | 799 |
Total other comprehensive income (loss) | (77,765) | 25,420 | 107,330 | 40,352 |
Transaction with noncontrolling interests | (1,472) | (1,472) | ||
Less: Other Comprehensive Income (loss) Attributable to the Noncontrolling Interests | (4,029) | 1,058 | 3,857 | 1,673 |
Less: Other Comprehensive Income (Loss) Attributable to the Redeemable Noncontrolling Interests | (86) | 2 | ||
Ending Balance | 165,385 | 751 | 165,385 | 751 |
Net unrealized gains (losses) on derivative instruments | ||||
Beginning Balance | 19,847 | (9,369) | 2,788 | (11,471) |
Net unrealized gains (losses) | 5,134 | 4,079 | 22,216 | 4,427 |
Reclassification adjustment included in net income, net of tax | (2,488) | (563) | (1,039) | 1,259 |
Total other comprehensive income (loss) | 2,646 | 3,516 | 21,177 | 5,686 |
Transaction with noncontrolling interests | (3) | (3) | ||
Less: Other Comprehensive Income (loss) Attributable to the Noncontrolling Interests | 491 | 227 | 1,963 | 295 |
Less: Other Comprehensive Income (Loss) Attributable to the Redeemable Noncontrolling Interests | 0 | 0 | ||
Ending Balance | 22,002 | (6,083) | 22,002 | (6,083) |
Accumulated other comprehensive income (loss) | ||||
Beginning Balance | 34,014 | (59,822) | (16,041) | (84,650) |
Total other comprehensive income (loss) | (113,559) | 33,213 | (54,056) | 58,723 |
Transaction with noncontrolling interests | (1,475) | (1,475) | ||
Less: Other Comprehensive Income (loss) Attributable to the Noncontrolling Interests | (3,542) | 1,285 | 5,818 | 1,967 |
Less: Other Comprehensive Income (Loss) Attributable to the Redeemable Noncontrolling Interests | (86) | 2 | ||
Ending Balance | ¥ (75,917) | ¥ (29,369) | ¥ (75,917) | ¥ (29,369) |
Accumulated Other Comprehensi_4
Accumulated Other Comprehensive Income (Loss) (Changes in Components of Accumulated Other Comprehensive Income (Loss)) (Parenthetical) (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | |
Net unrealized gains (losses) on investments | ¥ 0 | ¥ 0 | ¥ 0 | ¥ 0 |
Net unrealized gains (losses) on investment in securities | ||||
Net unrealized gains (losses), tax | 15,067 | (2,058) | 69,092 | (6,411) |
Reclassification adjustment included in net income, tax | 173 | 188 | 465 | 1,392 |
Debt valuation adjustments | ||||
Net unrealized gains (losses), tax | 18 | (5) | (7) | 12 |
Reclassification adjustment included in net income, tax | 1 | 3 | 3 | 9 |
Defined benefit pension plans | ||||
Net unrealized gains (losses), tax | (42) | 33 | 39 | 57 |
Reclassification adjustment included in net income, tax | 16 | (40) | 49 | (114) |
Foreign currency translation adjustments | ||||
Net unrealized gains (losses), tax | (21,294) | 4,338 | 5,849 | 2,997 |
Reclassification adjustment included in net income, tax | (965) | (111) | (977) | (378) |
Net unrealized gains (losses) on derivative instruments | ||||
Net unrealized gains (losses), tax | (1,353) | (1,099) | (6,060) | (1,163) |
Reclassification adjustment included in net income, tax | ¥ 779 | ¥ 135 | ¥ 343 | ¥ (458) |
Accumulated Other Comprehensi_5
Accumulated Other Comprehensive Income (Loss) (Amounts Reclassified to Net Income from Accumulated Other Comprehensive Income (loss)) (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Gains on sales of subsidiaries and affiliates and liquidation losses, net | ¥ 18,283 | ¥ 19,632 | ¥ 26,872 | ¥ 26,105 |
Life insurance costs | (67,852) | (88,789) | (290,345) | (263,004) |
Write-downs of securities | (536) | (150) | (607) | (210) |
Interest expense | (37,158) | (17,026) | (88,631) | (50,458) |
Income tax (expense) or benefit | (28,078) | (32,891) | (66,815) | (100,961) |
Net Income | 91,049 | 63,009 | 216,658 | 215,728 |
Reclassification adjustment included in net income | Net unrealized gains (losses) on investment in securities | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Total before income tax | 601 | 237 | 1,765 | 5,499 |
Income tax (expense) or benefit | (173) | (188) | (465) | (1,392) |
Net Income | 428 | 49 | 1,300 | 4,107 |
Reclassification adjustment included in net income | Net unrealized gains (losses) on investment in securities | Sales of debt securities | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Gains on investment securities and dividends | 102 | 162 | 119 | 4,339 |
Life insurance premiums and related investment income | 450 | 369 | 1,261 | 1,784 |
Reclassification adjustment included in net income | Net unrealized gains (losses) on investment in securities | Amortization of debt securities | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Finance revenues | 207 | (15) | 369 | 43 |
Life insurance premiums and related investment income | 379 | (166) | 553 | (513) |
Reclassification adjustment included in net income | Net unrealized gains (losses) on investment in securities | Others | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Write-downs of securities | (537) | (113) | (537) | (154) |
Reclassification adjustment included in net income | Debt valuation adjustments | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Life insurance costs | 4 | 10 | 12 | 31 |
Total before income tax | 4 | 10 | 12 | 31 |
Income tax (expense) or benefit | (1) | (3) | (3) | (9) |
Net Income | 3 | 7 | 9 | 22 |
Reclassification adjustment included in net income | Defined benefit pension plans | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Amortization of prior service credit | 87 | 102 | 257 | 303 |
Amortization of net actuarial loss | (24) | (231) | (69) | (692) |
Amortization of transition obligation | 0 | 0 | (1) | (1) |
Total before income tax | 63 | (129) | 187 | (390) |
Income tax (expense) or benefit | (16) | 40 | (49) | 114 |
Net Income | 47 | (89) | 138 | (276) |
Reclassification adjustment included in net 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 | 6,513 | 8,052 | 79 | |
Total before income tax | (3,109) | (358) | (3,223) | (1,177) |
Income tax (expense) or benefit | 965 | 111 | 977 | 378 |
Net Income | (2,144) | (247) | (2,246) | (799) |
Reclassification adjustment included in net 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 | (9,622) | (11,275) | (1,256) | |
Interest expense | (358) | |||
Reclassification adjustment included in net income | Net unrealized gains (losses) on derivative instruments | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Total before income tax | 3,267 | 698 | 1,382 | (1,717) |
Income tax (expense) or benefit | (779) | (135) | (343) | 458 |
Net Income | 2,488 | 563 | 1,039 | (1,259) |
Reclassification adjustment included in net income | Net unrealized gains (losses) on derivative instruments | Interest rate swap agreements | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Interest expense | 23 | (796) | (134) | (1,338) |
Reclassification adjustment included in net 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 | 164 | (123) | 0 | (247) |
Reclassification adjustment included in net 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 | ¥ 3,080 | ¥ 1,617 | ¥ 1,516 | ¥ (132) |
ORIX Corporation Shareholders_3
ORIX Corporation Shareholders' Equity (Information about Dividend Payments and Applicable Dividends) (Detail) - JPY (¥) ¥ / shares in Units, ¥ in Millions | 9 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Dividends Payable [Line Items] | ||
Resolution | The board of directors on May 18, 2022 | The board of directors on May 20, 2021 |
Type of shares | Common stock | Common stock |
Total dividends paid | ¥ 55,704 | ¥ 52,438 |
Dividend per share | ¥ 46.6 | ¥ 43 |
Date of record for dividend | Mar. 31, 2022 | Mar. 31, 2021 |
Effective date for dividend | Jun. 03, 2022 | Jun. 07, 2021 |
Dividend resource | Retained earnings | Retained earnings |
Effective Date [Member] | ||
Dividends Payable [Line Items] | ||
Resolution | The board of directors on November 7, 2022 | The board of directors on November 4, 2021 |
Type of shares | Common stock | Common stock |
Total dividends paid | ¥ 50,586 | ¥ 46,957 |
Dividend per share | ¥ 42.8 | ¥ 39 |
Date of record for dividend | Sep. 30, 2022 | Sep. 30, 2021 |
Effective date for dividend | Dec. 06, 2022 | Dec. 09, 2021 |
Dividend resource | Retained earnings | Retained earnings |
ORIX Corporation Shareholders_4
ORIX Corporation Shareholders' Equity - Additional Information (Detail) - JPY (¥) ¥ in Millions | 9 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Class of Stock [Line Items] | ||
Total dividends paid | ¥ 55,704 | ¥ 52,438 |
Officer's Compensation Board Incentive Plan | ||
Class of Stock [Line Items] | ||
Total dividends paid | 91 | 92 |
Effective Date [Member] | Officer's Compensation Board Incentive Plan | ||
Class of Stock [Line Items] | ||
Total dividends paid | ¥ 122 | ¥ 83 |
Selling, General and Administ_3
Selling, General and Administrative Expenses (Summary of Selling, General and Administrative Expenses) (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | |
Selling, General and Administrative Expense [Abstract] | ||||
Personnel expenses | ¥ 84,628 | ¥ 76,296 | ¥ 238,728 | ¥ 220,758 |
Selling expenses | 22,900 | 20,616 | 64,151 | 52,825 |
Administrative expenses | 34,592 | 33,400 | 102,845 | 98,174 |
Depreciation of office facilities | 2,213 | 2,328 | 6,563 | 6,767 |
Total | ¥ 144,333 | ¥ 132,640 | ¥ 412,287 | ¥ 378,524 |
Pension Plans (Net Pension Cost
Pension Plans (Net Pension Cost of Defined Benefit Plans) (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | |
Japan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | ¥ 1,465 | ¥ 1,517 | ¥ 4,290 | ¥ 4,540 |
Interest cost | 175 | 175 | 522 | 594 |
Expected return on plan assets | (689) | (666) | (2,051) | (1,997) |
Amortization of prior service credit | (6) | (17) | (19) | (50) |
Amortization of net actuarial loss | 20 | 103 | 58 | 309 |
Net periodic pension cost | 965 | 1,112 | 2,800 | 3,396 |
Overseas plans | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 928 | 992 | 2,741 | 2,966 |
Interest cost | 523 | 327 | 1,533 | 986 |
Expected return on plan assets | (1,213) | (1,046) | (3,561) | (3,139) |
Amortization of prior service credit | (81) | (85) | (238) | (253) |
Amortization of net actuarial loss | 4 | 128 | 11 | 383 |
Amortization of transition obligation | 0 | 0 | 1 | 1 |
Net periodic pension cost | ¥ 161 | ¥ 316 | ¥ 487 | ¥ 944 |
Life Insurance Operations - Lif
Life Insurance Operations - Life Insurance Premiums and Related Investment Income (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | ||||||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | |||||
Net Investment Income [Line Items] | ||||||||
Total revenue | ¥ 630,028 | ¥ 626,579 | ¥ 1,994,844 | ¥ 1,868,113 | ||||
Life insurance premiums | ||||||||
Net Investment Income [Line Items] | ||||||||
Total revenue | 107,546 | 102,690 | 328,308 | 311,165 | ||||
Life insurance related investment income | ||||||||
Net Investment Income [Line Items] | ||||||||
Total revenue | (14,440) | [1] | 13,214 | [1] | 28,009 | [2] | 37,536 | [2] |
Life insurance premiums and related investment income | ||||||||
Net Investment Income [Line Items] | ||||||||
Total revenue | ¥ 93,106 | ¥ 115,904 | ¥ 356,317 | ¥ 348,701 | ||||
[1]Life insurance related investment income for the three months ended December 31, 2021 and 2022 include net unrealized holding a gain of ¥3,008 million and a loss of ¥357 million on equity securities held as of December 31, 2021 and 2022, respectively.[2]Life insurance related investment income for the nine months ended December 31, 2021 and 2022 include net unrealized holding a gain of ¥12,096 million and a loss of ¥9,301 million on equity securities held as of December 31, 2021 and 2022, respectively. |
Life Insurance Operations - Add
Life Insurance Operations - Additional Information (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | |
Net Investment Income [Line Items] | ||||
Trading Securities, Unrealized Holding Gain (Loss) | ¥ 12,272 | ¥ (427) | ¥ (2,851) | ¥ 30,891 |
Amortization of policy acquisition costs charged to income | 10,297 | 4,608 | 18,181 | 15,947 |
Life insurance related investment income | ||||
Net Investment Income [Line Items] | ||||
Trading Securities, Unrealized Holding Gain (Loss) | ¥ 357 | ¥ 3,008 | ¥ 9,301 | ¥ 12,096 |
Life Insurance Operations - Rei
Life Insurance Operations - Reinsurance Benefits and Reinsurance Premiums Included in Life Insurance Premiums (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | |
Policyholders Account In Life Insurance Business [Abstract] | ||||
Reinsurance benefits | ¥ 423 | ¥ 262 | ¥ 1,080 | ¥ 1,114 |
Reinsurance premiums | ¥ (1,170) | ¥ (1,046) | ¥ (3,560) | ¥ (3,272) |
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 | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | |
Life insurance premiums and related investment income | ||||
Net realized and unrealized gains or losses from investment assets | ¥ 826 | ¥ 2,419 | ¥ (10,994) | ¥ 13,282 |
Net gains or losses from derivative contracts | (455) | (198) | (203) | (1,359) |
Life insurance costs | ||||
Changes in the fair value of the policy liabilities and policy account balances | (7,286) | (10,004) | (35,931) | (50,289) |
Insurance costs recognized for insurance and annuity payouts as a result of insured events | 6,213 | 11,145 | 23,179 | 58,161 |
Changes in the fair value of the reinsurance contracts | 564 | 295 | 76 | 1,028 |
Futures | ||||
Life insurance premiums and related investment income | ||||
Net gains or losses from derivative contracts | (652) | (83) | 200 | (1,206) |
Foreign exchange contracts | ||||
Life insurance premiums and related investment income | ||||
Net gains or losses from derivative contracts | ¥ 197 | ¥ (115) | ¥ (403) | ¥ (153) |
Write-Downs of Long-Lived Ass_3
Write-Downs of Long-Lived Assets - Long-Lived Assets and Liabilities Associated With Those Assets Classified as Held for Sale (Detail) - Discontinued Operations, Held-for-sale - Real estate properties and transportation equipment - JPY (¥) ¥ in Millions | Dec. 31, 2022 | Mar. 31, 2022 |
Long Lived Assets Held-for-sale [Line Items] | ||
Investment in operating leases | ¥ 13,359 | ¥ 35,061 |
Property under facility operations | 8 | 8,376 |
Office facilities | 0 | 1,375 |
Other assets | 0 | 1,556 |
Other liabilities | ¥ 0 | ¥ 1,761 |
Write-Downs of Long-Lived Ass_4
Write-Downs of Long-Lived Assets - Additional Information (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | |
Property, Plant and Equipment [Abstract] | ||||
Write-downs of long-lived assets | ¥ 1,554 | ¥ 14,980 | ¥ 1,807 | ¥ 15,068 |
Real Estate | ||||
Property, Plant and Equipment [Abstract] | ||||
Write-downs of long-lived assets | 1,535 | 14 | 1,709 | 26 |
Corporate Financial Services and Maintenance Leasing | ||||
Property, Plant and Equipment [Abstract] | ||||
Write-downs of long-lived assets | 233 | 233 | ||
PE Investment And Concession Segment | ||||
Property, Plant and Equipment [Abstract] | ||||
Write-downs of long-lived assets | 11,645 | 39 | 11,646 | |
Environment and Energy | ||||
Property, Plant and Equipment [Abstract] | ||||
Write-downs of long-lived assets | ¥ 19 | 58 | ||
Aircraft And Ships [Member] | ||||
Property, Plant and Equipment [Abstract] | ||||
Write-downs of long-lived assets | 2,331 | 2,331 | ||
ORIX USA | ||||
Property, Plant and Equipment [Abstract] | ||||
Write-downs of long-lived assets | ¥ 757 | 828 | ||
Asia and Australia | ||||
Property, Plant and Equipment [Abstract] | ||||
Write-downs of long-lived assets | ¥ 1 | ¥ 4 |
Write-Downs of Long-Lived Ass_5
Write-Downs of Long-Lived Assets - Breakdowns of Recognized Impairment Losses for Difference between Carrying Amounts and Fair Values Reflected as Write-Downs of Long-Lived Assets (Detail) ¥ in Millions | 3 Months Ended | 9 Months Ended | |||||||
Dec. 31, 2022 JPY (¥) Property | Dec. 31, 2021 JPY (¥) Property | Dec. 31, 2022 JPY (¥) Property | Dec. 31, 2021 JPY (¥) Property | ||||||
Impaired Long-Lived Assets Held and Used [Line Items] | |||||||||
Write-downs of the assets held for sale, amount | ¥ 19 | ¥ 12,647 | ¥ 75 | ¥ 12,648 | |||||
Write-downs of the assets held for sale, number of properties | Property | 0 | ||||||||
Write-downs due to decline in estimated future cash flows, amount | ¥ 1,535 | 2,333 | ¥ 1,732 | ¥ 2,420 | |||||
Write-downs due to decline in estimated future cash flows, number of properties | Property | |||||||||
Office Buildings | |||||||||
Impaired Long-Lived Assets Held and Used [Line Items] | |||||||||
Write-downs due to decline in estimated future cash flows, amount | ¥ 1,535 | ¥ 0 | ¥ 1,535 | ¥ 0 | |||||
Write-downs due to decline in estimated future cash flows, number of properties | Property | 2 | 0 | 2 | 0 | |||||
Commercial facilities other than office buildings | |||||||||
Impaired Long-Lived Assets Held and Used [Line Items] | |||||||||
Write-downs of the assets held for sale, amount | ¥ 0 | ¥ 757 | ¥ 0 | ¥ 757 | |||||
Write-downs of the assets held for sale, number of properties | Property | 0 | 2 | 2 | ||||||
Write-downs due to decline in estimated future cash flows, amount | ¥ 51 | ¥ 11 | |||||||
Write-downs due to decline in estimated future cash flows, number of properties | Property | 2 | 1 | |||||||
Condominiums | |||||||||
Impaired Long-Lived Assets Held and Used [Line Items] | |||||||||
Write-downs of the assets held for sale, amount | ¥ 0 | ¥ 12 | ¥ 0 | ¥ 13 | |||||
Write-downs of the assets held for sale, number of properties | Property | 0 | 1 | 2 | ||||||
Write-downs due to decline in estimated future cash flows, amount | ¥ 0 | ¥ 2 | ¥ 3 | ¥ 3 | |||||
Write-downs due to decline in estimated future cash flows, number of properties | Property | 0 | 3 | 3 | 4 | |||||
Others | |||||||||
Impaired Long-Lived Assets Held and Used [Line Items] | |||||||||
Write-downs of the assets held for sale, amount | ¥ 19 | [1] | ¥ 11,878 | [1] | ¥ 75 | [2] | ¥ 11,878 | [2] | |
Write-downs of the assets held for sale, number of properties | Property | [1] | 0 | |||||||
Write-downs due to decline in estimated future cash flows, amount | ¥ 0 | [1] | ¥ 2,331 | [1] | ¥ 143 | [2] | ¥ 2,406 | [2] | |
[1]For “Others,” the number of properties is omitted. In addition, write-downs of other long-lived assets for the three months ended December 31, 2021 include write-downs of ¥11,641 million of property under facility operations and others held by a subsidiary and ¥2,331 million of two aircrafts.[2]For “Others,” the number of properties is omitted. In addition, write-downs of other long-lived assets for the nine months ended December 31, 2021 include write-downs of ¥11,641 million of property under facility operations and others held by a subsidiary 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 | 3 Months Ended | 9 Months Ended | ||||||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | |||||
Impaired Long-Lived Assets Held and Used [Line Items] | ||||||||
Write-downs of long-lived assets | ¥ 19 | ¥ 12,647 | ¥ 75 | ¥ 12,648 | ||||
Property, Plant and Equipment, Other Types | ||||||||
Impaired Long-Lived Assets Held and Used [Line Items] | ||||||||
Write-downs of long-lived assets | ¥ 19 | [1] | 11,878 | [1] | ¥ 75 | [2] | 11,878 | [2] |
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 | 11,641 | 11,641 | ||||||
Property, Plant and Equipment, Other Types | Aircraft | ||||||||
Impaired Long-Lived Assets Held and Used [Line Items] | ||||||||
Write-downs of long-lived assets | ¥ 2,331 | ¥ 2,331 | ||||||
[1]For “Others,” the number of properties is omitted. In addition, write-downs of other long-lived assets for the three months ended December 31, 2021 include write-downs of ¥11,641 million of property under facility operations and others held by a subsidiary and ¥2,331 million of two aircrafts.[2]For “Others,” the number of properties is omitted. In addition, write-downs of other long-lived assets for the nine months ended December 31, 2021 include write-downs of ¥11,641 million of property under facility operations and others held by a subsidiary and ¥2,331 million of two aircrafts. |
Per Share Data - Additional Inf
Per Share Data - Additional Information (Detail) - shares | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | |
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 | 2,849,782 | 2,142,248 | 2,405,482 | 2,147,048 |
Stock Options | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Antidilutive shares excluded from calculation of diluted EPS | 0 | 0 | 0 | 0 |
Per Share Data (Reconciliation
Per Share Data (Reconciliation of Differences between Basic and Diluted Earnings Per Share) (Detail) - JPY (¥) ¥ / shares in Units, shares in Thousands, ¥ in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | |
Earnings Per Share [Abstract] | ||||
Net Income attributable to ORIX Corporation shareholders | ¥ 89,612 | ¥ 64,659 | ¥ 211,388 | ¥ 211,341 |
Weighted-average shares | 1,174,396 | 1,197,290 | 1,183,372 | 1,206,467 |
Effect of dilutive securities | ||||
Stock compensation | 1,572 | 1,422 | 1,488 | 1,324 |
Weighted-average shares for diluted EPS computation | 1,175,968 | 1,198,712 | 1,184,860 | 1,207,791 |
Earnings per share for net income attributable to ORIX Corporation shareholders: | ||||
Basic | ¥ 76.3 | ¥ 54 | ¥ 178.63 | ¥ 175.17 |
Diluted | ¥ 76.2 | ¥ 53.94 | ¥ 178.41 | ¥ 174.98 |
Derivative Financial Instrume_3
Derivative Financial Instruments and Hedging (Effect of Derivative Instruments on Consolidated Statements of Income, Pre-tax, Cash flow hedges) (Detail) - Derivatives designated as hedging instruments - Cash flow hedges - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | |
Interest rate swap agreements | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains (losses) recognized in other comprehensive income on derivative | ¥ 4,562 | ¥ 3,391 | ¥ 27,068 | ¥ 4,541 |
Interest rate swap agreements | Interest expense | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains (losses) reclassified from other comprehensive income (loss) into income | (23) | 796 | 134 | 1,338 |
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 | 0 |
Foreign exchange contracts | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains (losses) recognized in other comprehensive income on derivative | (5) | (140) | (177) | (311) |
Foreign exchange contracts | Interest expense | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains (losses) reclassified from other comprehensive income (loss) into income | (913) | (215) | (896) | (269) |
Foreign exchange contracts | Other (income) and expense | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains (losses) reclassified from other comprehensive income (loss) into income | 749 | 338 | 896 | 516 |
Foreign currency swap agreements | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains (losses) recognized in other comprehensive income on derivative | 1,930 | 1,927 | 1,385 | 1,360 |
Foreign currency swap agreements | Interest expense | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains (losses) reclassified from other comprehensive income (loss) into income | 261 | 123 | 563 | 413 |
Foreign currency swap agreements | Other (income) and expense | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains (losses) reclassified from other comprehensive income (loss) into income | ¥ (3,341) | ¥ (1,740) | ¥ (2,079) | ¥ (281) |
Derivative Financial Instrume_4
Derivative Financial Instruments and Hedging (Effect of Derivative Instruments on Consolidated Statements of Income, Pre-tax, Fair value hedges) (Detail) - Derivatives designated as hedging instruments - Fair value hedges - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | |
Interest rate swap agreements | Life insurance premiums and related investment income | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains (losses) recognized in income on derivative and other | ¥ (239) | ¥ 1,048 | ¥ 2,934 | ¥ 127 |
Gains (losses) recognized in income on hedged item | 243 | (1,048) | (2,815) | (17) |
Interest rate swap agreements | Other (income) and expense | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains (losses) recognized in income on derivative and other | 0 | 0 | 0 | 0 |
Gains (losses) recognized in income on hedged item | 0 | 0 | 0 | 0 |
Foreign exchange contracts | Life insurance premiums and related investment income | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains (losses) recognized in income on derivative and other | 39,225 | (9,252) | (39,442) | (13,879) |
Gains (losses) recognized in income on hedged item | (39,304) | 9,194 | 39,513 | 13,861 |
Foreign exchange contracts | Other (income) and expense | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains (losses) recognized in income on derivative and other | 218 | 34 | (231) | 132 |
Gains (losses) recognized in income on hedged item | ¥ (221) | ¥ 29 | ¥ 178 | ¥ (46) |
Derivative Financial Instrume_5
Derivative Financial Instruments and Hedging (Effect of Derivative Instruments on Consolidated Statements of Income, Pre-tax, Hedges of net investment in foreign operations) (Detail) - Hedges of net investment in foreign operations - Derivatives designated as hedging instruments - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | |
Borrowings and bonds in foreign currencies | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains (losses) recognized in other comprehensive income on derivative and others | ¥ 62,691 | ¥ (16,469) | ¥ (60,048) | ¥ (22,868) |
Foreign exchange contracts | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains (losses) recognized in other comprehensive income on derivative and others | 11,097 | (6,583) | (13,498) | (7,127) |
Gains on sales of subsidiaries and affiliates and liquidation losses, net | Borrowings and bonds in foreign currencies | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains (losses) reclassified from other comprehensive income (loss) into income | 0 | 0 | 0 | |
Gains on sales of subsidiaries and affiliates and liquidation losses, net | Foreign exchange contracts | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains (losses) reclassified from other comprehensive income (loss) into income | (7,360) | (7,309) | (104) | |
Interest expense | Borrowings and bonds in foreign currencies | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains (losses) reclassified from other comprehensive income (loss) into income | 0 | 0 | 0 | 0 |
Interest expense | Foreign exchange contracts | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains (losses) reclassified from other comprehensive income (loss) into income | ¥ 2,262 | ¥ 358 | 4,218 | 1,147 |
Other (income) and expense | Borrowings and bonds in foreign currencies | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains (losses) reclassified from other comprehensive income (loss) into income | 0 | 0 | ||
Other (income) and expense | Foreign exchange contracts | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains (losses) reclassified from other comprehensive income (loss) into income | ¥ (252) | ¥ 5 |
Derivative Financial Instrume_6
Derivative Financial Instruments and Hedging (Effect of Derivative Instruments on Consolidated Statements of Income, Pre-tax, Derivatives not designated as hedging instruments) (Detail) - Nondesignated - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | ||||||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | |||||
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] | ¥ 0 | [4] |
Interest rate swap agreements | Interest expense | ||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
Gains (losses) recognized in income on derivative | 1 | 1 | 4 | 4 | ||||
Interest rate swap agreements | Other (income) and expense | ||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
Gains (losses) recognized in income on derivative | (70) | 0 | (209) | (21) | ||||
Futures | Life insurance premiums and related investment income | ||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
Gains (losses) recognized in income on derivative | (652) | [1] | (83) | [2] | 200 | [3] | (1,206) | [4] |
Futures | Interest expense | ||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
Gains (losses) recognized in income on derivative | 0 | 0 | 0 | 0 | ||||
Futures | Other (income) and expense | ||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
Gains (losses) recognized in income on derivative | 1,650 | 668 | (2,455) | 1,401 | ||||
Foreign exchange contracts | Life insurance premiums and related investment income | ||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
Gains (losses) recognized in income on derivative | (16,249) | [1] | 4,740 | [2] | 18,223 | [3] | 8,486 | [4] |
Foreign exchange contracts | Interest expense | ||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
Gains (losses) recognized in income on derivative | 1,125 | 232 | 3,075 | 950 | ||||
Foreign exchange contracts | Other (income) and expense | ||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
Gains (losses) recognized in income on derivative | (5,635) | 11,069 | 45,954 | 13,484 | ||||
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 | [3] | 0 | [4] | ||
Credit derivatives held | Interest expense | ||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
Gains (losses) recognized in income on derivative | 0 | 0 | 0 | |||||
Credit derivatives held | Other (income) and expense | ||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
Gains (losses) recognized in income on derivative | 0 | 4 | (1) | |||||
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] | 0 | [2] | 0 | [3] | 0 | [4] |
Options held/written and other | Interest expense | ||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
Gains (losses) recognized in income on derivative | 0 | 0 | 0 | 0 | ||||
Options held/written and other | Other (income) and expense | ||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||
Gains (losses) recognized in income on derivative | ¥ 2,907 | ¥ (2,026) | ¥ 2,021 | ¥ (1,267) | ||||
[1]Futures and foreign exchange contracts in the above table include gains (losses) arising from futures and foreign exchange contracts to economically hedge the minimum guarantee risk of variable annuity and variable life insurance contracts for the three months ended December 31, 2022 (see Note 17 “Life Insurance Operations”).[2]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 the three months ended December 31, 2021 (see Note 17 “Life Insurance Operations”).[3]Futures and foreign exchange contracts in the above table include gains (losses) arising from futures and foreign exchange contracts to economically hedge the minimum guarantee risk of variable annuity and variable life insurance contracts for the nine months ended December 31, 2022 (see Note 17 “Life Insurance Operations”).[4]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 the nine months ended December 31, 2021 (see Note 17 “Life Insurance Operations”). |
Derivative Financial Instrume_7
Derivative Financial Instruments and Hedging (Effect of Derivative Instruments on Consolidated Statements of Income, Pre-tax) (Detail) - Fair value hedges - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | |
Foreign exchange contracts | Life insurance premiums and related investment income | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains (losses) recognized in income | ¥ (5,630) | ¥ (375) | ¥ (7,104) | ¥ (1,072) |
Foreign exchange contracts | Interest expense | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains (losses) recognized in income | 3 | 4 | 17 | 6 |
Foreign exchange contracts | Other (income) and expense | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains (losses) recognized in income | 0 | 0 | 0 | 0 |
Options held/written and other | Life insurance premiums and related investment income | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains (losses) recognized in income | 0 | 0 | 0 | 0 |
Options held/written and other | Interest expense | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains (losses) recognized in income | 0 | 0 | 0 | 0 |
Options held/written and other | Other (income) and expense | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains (losses) recognized in income | ¥ 14 | ¥ 8 | ¥ 41 | ¥ 22 |
Derivative Financial Instrume_8
Derivative Financial Instruments and Hedging (Derivative instruments fair value hedge assets and liabilities) (Detail) - JPY (¥) ¥ in Millions | Dec. 31, 2022 | Mar. 31, 2022 |
Investment in Securities [Member] | ||
Carrying amount | ¥ 443,892 | ¥ 422,938 |
The cumulative amount of fair value hedging adjustments included in the carrying amount | (1,553) | 1,147 |
Carrying amount | 0 | |
The cumulative amount of fair value hedging adjustments included in the carrying amount | 0 | |
Installment Loans [Member] | ||
Carrying amount | 13,977 | 28,836 |
The cumulative amount of fair value hedging adjustments included in the carrying amount | 1 | ¥ 55 |
Carrying amount | 0 | |
The cumulative amount of fair value hedging adjustments included in the carrying amount | ¥ 0 |
Derivative Financial Instrume_9
Derivative Financial Instruments and Hedging (Notional Amounts of Derivative Instruments and Other, Fair Values of Derivative Instruments and Other before Offsetting) (Detail) - JPY (¥) ¥ in Millions | Dec. 31, 2022 | Mar. 31, 2022 | ||
Derivatives, Fair Value [Line Items] | ||||
Derivative assets, Fair value | ¥ 119,793 | ¥ 51,366 | ||
Derivative liabilities, Fair value | 59,775 | 105,705 | ||
Interest rate swap agreements | Derivatives designated as hedging instruments and other | ||||
Derivatives, Fair Value [Line Items] | ||||
Notional amount | 495,902 | 511,224 | ||
Interest rate swap agreements | Derivatives designated as hedging instruments and other | Other assets | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative assets, Fair value | 25,840 | 9,570 | ||
Interest rate swap agreements | Derivatives designated as hedging instruments and other | Other liabilities | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative liabilities, Fair value | 1,384 | 8,170 | ||
Interest rate swap agreements | Derivatives not designated as hedging instruments | ||||
Derivatives, Fair Value [Line Items] | ||||
Notional amount | 425 | 432 | ||
Interest rate swap agreements | Derivatives not designated as hedging instruments | Other assets | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative assets, Fair value | 0 | 0 | ||
Interest rate swap agreements | Derivatives not designated as hedging instruments | Other liabilities | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative liabilities, Fair value | 5 | 12 | ||
Options held/written and other | Derivatives designated as hedging instruments and other | ||||
Derivatives, Fair Value [Line Items] | ||||
Notional amount | 791 | 847 | ||
Options held/written and other | Derivatives designated as hedging instruments and other | Other assets | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative assets, Fair value | 18 | 11 | ||
Options held/written and other | Derivatives designated as hedging instruments and other | Other liabilities | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative liabilities, Fair value | 0 | 0 | ||
Options held/written and other | Derivatives not designated as hedging instruments | ||||
Derivatives, Fair Value [Line Items] | ||||
Notional amount | 571,465 | 794,774 | ||
Options held/written and other | Derivatives not designated as hedging instruments | Other assets | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative assets, Fair value | 39,592 | 25,653 | ||
Options held/written and other | Derivatives not designated as hedging instruments | Other liabilities | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative liabilities, Fair value | 36,858 | 21,562 | ||
Futures, foreign exchange contracts | Derivatives designated as hedging instruments and other | ||||
Derivatives, Fair Value [Line Items] | ||||
Notional amount | 996,909 | 944,282 | ||
Futures, foreign exchange contracts | Derivatives designated as hedging instruments and other | Other assets | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative assets, Fair value | 31,829 | 445 | ||
Futures, foreign exchange contracts | Derivatives designated as hedging instruments and other | Other liabilities | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative liabilities, Fair value | 11,029 | 51,953 | ||
Futures, foreign exchange contracts | Derivatives not designated as hedging instruments | ||||
Derivatives, Fair Value [Line Items] | ||||
Notional amount | 691,570 | [1] | 725,685 | [2] |
Futures, foreign exchange contracts | Derivatives not designated as hedging instruments | Other assets | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative assets, Fair value | 21,953 | [1] | 15,561 | [2] |
Futures, foreign exchange contracts | Derivatives not designated as hedging instruments | Other liabilities | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative liabilities, Fair value | 6,425 | [1] | 19,490 | [2] |
Foreign currency swap agreements | Derivatives designated as hedging instruments and other | ||||
Derivatives, Fair Value [Line Items] | ||||
Notional amount | 100,321 | 78,445 | ||
Foreign currency swap agreements | Derivatives designated as hedging instruments and other | Other assets | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative assets, Fair value | 561 | 126 | ||
Foreign currency swap agreements | Derivatives designated as hedging instruments and other | Other liabilities | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative liabilities, Fair value | 4,070 | 4,518 | ||
Foreign currency long-term debt | Derivatives designated as hedging instruments and other | ||||
Derivatives, Fair Value [Line Items] | ||||
Notional amount | 740,123 | 690,381 | ||
Foreign currency long-term debt | Derivatives designated as hedging instruments and other | Other assets | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative assets, Fair value | 0 | 0 | ||
Foreign currency long-term debt | Derivatives designated as hedging instruments and other | Other liabilities | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative liabilities, Fair value | 0 | ¥ 0 | ||
Credit derivatives written | Derivatives not designated as hedging instruments | ||||
Derivatives, Fair Value [Line Items] | ||||
Notional amount | 1,000 | |||
Credit derivatives written | Derivatives not designated as hedging instruments | Other assets | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative assets, Fair value | 0 | |||
Credit derivatives written | Derivatives not designated as hedging instruments | Other liabilities | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative liabilities, Fair value | ¥ 4 | |||
[1]The notional amounts of futures and foreign exchange contracts in the above table include futures contracts of ¥16,309 million and foreign exchange contracts of ¥5,305 million to economically hedge the minimum guarantee risk of variable annuity and variable life insurance contracts at December 31, 2022, respectively. Derivative assets in the above table include fair value of the futures and foreign exchange contracts before offsetting of ¥416 million and ¥308 million and derivative liabilities include fair value of futures and foreign exchange contracts before offsetting of ¥2 million and ¥15 million at December 31, 2022, respectively.[2]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. |
Derivative Financial Instrum_10
Derivative Financial Instruments and Hedging (Notional Amounts of Derivative Instruments and Other, Fair Values of Derivative Instruments and Other before Offsetting) (Parenthetical) (Detail) - JPY (¥) ¥ in Millions | Dec. 31, 2022 | Mar. 31, 2022 |
Derivatives, Fair Value [Line Items] | ||
Derivative assets Fair value | ¥ 119,793 | ¥ 51,366 |
Derivative liabilities Fair value | 59,775 | 105,705 |
Futures | Variable Annuity and Variable Life Insurance Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 16,309 | 15,088 |
Derivative assets Fair value | 416 | 79 |
Derivative liabilities Fair value | 2 | 1,325 |
Foreign exchange contracts | Variable Annuity and Variable Life Insurance Contracts | ||
Derivatives, Fair Value [Line Items] | ||
Notional amount | 5,305 | 7,415 |
Derivative assets Fair value | 308 | 57 |
Derivative liabilities Fair value | ¥ 15 | ¥ 378 |
Derivative Financial Instrum_11
Derivative Financial Instruments and Hedging (Credit Derivatives) (Detail) - Credit Default Swap [Member] ¥ in Millions | Dec. 31, 2022 JPY (¥) |
Credit Derivatives [Line Items] | |
Maximum potential amount of future payment under the credit derivative | ¥ 1,000 |
Fair value of the credit derivative | ¥ (4) |
Offsetting Assets and Liabili_3
Offsetting Assets and Liabilities (Gross Amounts Recognized, Gross Amounts Offset, and Net Amounts Presented in Consolidated Balance Sheets Regarding to Derivative Assets and Liabilities and Other Assets and Liabilities) (Detail) - JPY (¥) ¥ in Millions | Dec. 31, 2022 | Mar. 31, 2022 | |
Offsetting Asset and Liabilities [Line Items] | |||
Gross amounts recognized, assets | ¥ 119,793 | ¥ 51,366 | |
Gross amounts offset in the consolidated balance sheets, assets | (16,464) | (20,333) | |
Net amounts presented in the consolidated balance sheets, assets | 103,329 | 31,033 | |
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 received/pledged, assets | [1] | (24,334) | (1,060) |
Net amount, assets | 78,995 | 29,973 | |
Gross amounts recognized, liabilities | 59,775 | 105,705 | |
Gross amounts offset in the consolidated balance sheets, liabilities | (16,464) | (20,333) | |
Net amounts presented in the consolidated balance sheets, liabilities | 43,311 | 85,372 | |
Gross amounts not offset in the consolidated balance sheets, financial instruments, liabilities | [1] | 0 | (15,409) |
Gross amounts not offset in the consolidated balance sheets, collateral received/pledged, liabilities | [1] | 0 | 0 |
Net amount, liabilities | 43,311 | 69,963 | |
Derivative liabilities | |||
Offsetting Asset and Liabilities [Line Items] | |||
Gross amounts recognized, liabilities | 59,775 | 105,705 | |
Gross amounts offset in the consolidated balance sheets, liabilities | (16,464) | (20,333) | |
Net amounts presented in the consolidated balance sheets, liabilities | 43,311 | 85,372 | |
Gross amounts not offset in the consolidated balance sheets, financial instruments, liabilities | [1] | 0 | (15,409) |
Gross amounts not offset in the consolidated balance sheets, collateral received/pledged, liabilities | [1] | 0 | 0 |
Net amount, liabilities | 43,311 | 69,963 | |
Derivative assets | |||
Offsetting Asset and Liabilities [Line Items] | |||
Gross amounts recognized, assets | 119,793 | 51,366 | |
Gross amounts offset in the consolidated balance sheets, assets | (16,464) | (20,333) | |
Net amounts presented in the consolidated balance sheets, assets | 103,329 | 31,033 | |
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 received/pledged, assets | [1] | (24,334) | (1,060) |
Net amount, assets | ¥ 78,995 | ¥ 29,973 | |
[1]The balances related to enforceable master netting agreements or similar agreements which were not offset in the consolidated balance sheets. |
Estimated Fair Value of Finan_3
Estimated Fair Value of Financial Instruments (Information about Carrying Amount of Financial Instruments Reported in Consolidated Balance Sheets and Related Market or Fair Value) (Detail) - JPY (¥) ¥ in Millions | Dec. 31, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | |||
Assets: | ||||||
Cash and cash equivalents | ¥ 951,148 | ¥ 954,827 | ¥ 896,039 | |||
Restricted Cash | 115,870 | 136,985 | ||||
Equity securities | [1] | 561,116 | 560,643 | |||
Trading debt securities | 2,968 | 2,503 | ||||
Available-for-sale debt securities | 2,107,359 | 2,174,891 | ||||
Held-to-maturity debt securities | 114,757 | 114,312 | ||||
Other Assets: | ||||||
Derivative assets | 103,329 | 31,033 | ||||
Liabilities: | ||||||
Short-term debt | 445,537 | 439,639 | ||||
Deposits | 2,310,212 | 2,276,158 | ||||
Long-term debt | 4,759,717 | 4,427,046 | ||||
Other Liabilities: | ||||||
Derivative liabilities | 43,311 | 85,372 | ||||
Level 1 | ||||||
Assets: | ||||||
Cash and cash equivalents | 951,148 | 954,827 | ||||
Restricted Cash | 115,870 | 136,985 | ||||
Installment loans (net of allowance for credit losses) | 0 | 0 | ||||
Equity securities | 100,108 | [2] | 112,200 | [3] | ||
Trading debt securities | 0 | 0 | ||||
Available-for-sale debt securities | 5,087 | 1,095 | ||||
Held-to-maturity debt securities | 0 | 0 | ||||
Other Assets: | ||||||
Time deposits | 0 | 0 | ||||
Derivative assets | [4] | 0 | 0 | |||
Reinsurance recoverables (Investment contracts) | 0 | 0 | ||||
Liabilities: | ||||||
Short-term debt | 0 | 0 | ||||
Deposits | 0 | 0 | ||||
Policy liabilities and Policy account balances (Investment contracts) | 0 | 0 | ||||
Long-term debt | 0 | 0 | ||||
Other Liabilities: | ||||||
Derivative liabilities | [4] | 0 | 0 | |||
Level 2 | ||||||
Assets: | ||||||
Cash and cash equivalents | 0 | 0 | ||||
Restricted Cash | 0 | 0 | ||||
Installment loans (net of allowance for credit losses) | 120,242 | 261,031 | ||||
Equity securities | 127,944 | [2] | 160,099 | [3] | ||
Trading debt securities | 2,968 | 2,503 | ||||
Available-for-sale debt securities | 1,899,591 | 2,032,736 | ||||
Held-to-maturity debt securities | 106,038 | 112,678 | ||||
Other Assets: | ||||||
Time deposits | 5,241 | 4,197 | ||||
Derivative assets | [4] | 0 | 0 | |||
Reinsurance recoverables (Investment contracts) | 0 | 0 | ||||
Liabilities: | ||||||
Short-term debt | 445,537 | 439,639 | ||||
Deposits | 2,140,125 | 2,108,169 | ||||
Policy liabilities and Policy account balances (Investment contracts) | 0 | 0 | ||||
Long-term debt | 1,619,619 | 1,456,822 | ||||
Other Liabilities: | ||||||
Derivative liabilities | [4] | 0 | 0 | |||
Level 3 | ||||||
Assets: | ||||||
Cash and cash equivalents | 0 | 0 | ||||
Restricted Cash | 0 | 0 | ||||
Installment loans (net of allowance for credit losses) | 3,715,414 | 3,545,521 | ||||
Equity securities | 127,318 | [2] | 112,972 | [3] | ||
Trading debt securities | 0 | 0 | ||||
Available-for-sale debt securities | 202,681 | 141,060 | ||||
Held-to-maturity debt securities | 20,266 | 22,763 | ||||
Other Assets: | ||||||
Time deposits | 0 | 0 | ||||
Derivative assets | [4] | 0 | 0 | |||
Reinsurance recoverables (Investment contracts) | 5,161 | 6,049 | ||||
Liabilities: | ||||||
Short-term debt | 0 | 0 | ||||
Deposits | 0 | 0 | ||||
Policy liabilities and Policy account balances (Investment contracts) | 149,656 | 178,159 | ||||
Long-term debt | 3,084,633 | 2,969,807 | ||||
Other Liabilities: | ||||||
Derivative liabilities | [4] | 0 | 0 | |||
Carrying amount | ||||||
Assets: | ||||||
Cash and cash equivalents | 951,148 | 954,827 | ||||
Restricted Cash | 115,870 | 136,985 | ||||
Installment loans (net of allowance for credit losses) | 3,868,533 | 3,814,773 | ||||
Equity securities | 355,370 | [2] | 385,271 | [3] | ||
Trading debt securities | 2,968 | 2,503 | ||||
Available-for-sale debt securities | 2,107,359 | 2,174,891 | ||||
Held-to-maturity debt securities | 114,757 | 114,312 | ||||
Other Assets: | ||||||
Time deposits | 5,241 | 4,197 | ||||
Derivative assets | [4] | 103,329 | 31,033 | |||
Reinsurance recoverables (Investment contracts) | 5,556 | 6,216 | ||||
Liabilities: | ||||||
Short-term debt | 445,537 | 439,639 | ||||
Deposits | 2,139,416 | 2,106,900 | ||||
Policy liabilities and Policy account balances (Investment contracts) | 150,004 | 178,170 | ||||
Long-term debt | 4,759,717 | 4,427,046 | ||||
Other Liabilities: | ||||||
Derivative liabilities | [4] | 43,311 | 85,372 | |||
Estimated fair value | ||||||
Assets: | ||||||
Cash and cash equivalents | 951,148 | 954,827 | ||||
Restricted Cash | 115,870 | 136,985 | ||||
Installment loans (net of allowance for credit losses) | 3,835,656 | 3,806,552 | ||||
Equity securities | 355,370 | [2] | 385,271 | [3] | ||
Trading debt securities | 2,968 | 2,503 | ||||
Available-for-sale debt securities | 2,107,359 | 2,174,891 | ||||
Held-to-maturity debt securities | 126,304 | 135,441 | ||||
Other Assets: | ||||||
Time deposits | 5,241 | 4,197 | ||||
Derivative assets | [4] | 103,329 | 31,033 | |||
Reinsurance recoverables (Investment contracts) | 5,161 | 6,049 | ||||
Liabilities: | ||||||
Short-term debt | 445,537 | 439,639 | ||||
Deposits | 2,140,125 | 2,108,169 | ||||
Policy liabilities and Policy account balances (Investment contracts) | 149,656 | 178,159 | ||||
Long-term debt | 4,704,252 | 4,426,629 | ||||
Other Liabilities: | ||||||
Derivative liabilities | [4] | ¥ 43,311 | ¥ 85,372 | |||
[1]The amount of assets under management of variable annuity and variable life insurance contracts included in equity securities were ¥185,115 million and ¥149,314 million as of March 31, 2022 and December 31, 2022, respectively. The amount of investment funds that are accounted for under the equity method included in equity securities were ¥90,650 million and ¥90,709 million as of March 31, 2022 and December 31, 2022, respectively. The amount of investment funds elected for the fair value option included in equity securities, and others were ¥11,709 million and ¥15,002 million as of March 31, 2022 and December 31, 2022, respectively.[2]The amount of ¥46,085 million of investment funds measured at net asset value per share is not included.[3]The amount of ¥25,999 million of investment funds measured at net asset value per share is not included.[4]It represents the amount after offset under counterparty netting of derivative assets and liabilities. For the information of input level before netting, see Note 3 “Fair Value Measurements.” |
Estimated Fair Value of Finan_4
Estimated Fair Value of Financial Instruments (Information about Carrying Amount of Financial Instruments Reported in Consolidated Balance Sheets and Related Market or Fair Value) (Parenthetical) (Detail) - JPY (¥) ¥ in Millions | Dec. 31, 2022 | Mar. 31, 2022 |
Estimated fair value | Investment in securities | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment funds | ¥ 46,085 | ¥ 25,999 |
Commitments, Guarantees, and Co
Commitments, Guarantees, and Contingent Liabilities - Additional Information (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | Mar. 31, 2022 | ||
Commitments and Contingencies Disclosure [Line Items] | ||||||
Commitments for purchase of equipment to be leased at cost | ¥ 3,124 | ¥ 3,475 | ||||
Payments for computer systems under non-cancelable contracts | ¥ 2,359 | ¥ 2,216 | 6,497 | ¥ 6,122 | ||
Estimated construction costs | 178,665 | 178,665 | 128,449 | |||
Total unused credit and capital amount available | 473,522 | 473,522 | 436,784 | |||
Guarantee Obligations Maximum Exposure | 1,217,211 | 1,217,211 | 1,153,273 | |||
Guarantee Obligations Current Carrying Value | 58,379 | 58,379 | 60,458 | |||
Outstanding principal amount of loans transferred under Delegated Underwriting and Servicing program | 2,208,917 | 2,208,917 | 2,121,074 | |||
Provision for credit losses for off-balance sheet credit exposure reversal | [1] | 331 | ¥ 528 | 1,199 | ¥ 2,897 | |
Investment in securities pledged for primarily collateral deposits | 107,496 | 107,496 | 147,428 | |||
Investments In Subsidaries Pledged | 10,109 | 10,109 | 10,531 | |||
Other Liabilities [Member] | ||||||
Commitments and Contingencies Disclosure [Line Items] | ||||||
Allowance for off-balance sheet credit exposure | 21,268 | 21,268 | 22,120 | |||
Secured By Share | ||||||
Commitments and Contingencies Disclosure [Line Items] | ||||||
Secured debt | 31,872 | 31,872 | 38,399 | |||
Secured Investments | ||||||
Commitments and Contingencies Disclosure [Line Items] | ||||||
Secured debt | 85,561 | 85,561 | 74,334 | |||
Corporate Loans | ||||||
Commitments and Contingencies Disclosure [Line Items] | ||||||
Guarantee Obligations Maximum Exposure | 479,687 | 479,687 | 436,414 | |||
Guarantee Obligations Current Carrying Value | 5,061 | 5,061 | 4,895 | |||
Performance Guarantee | Corporate Loans | ||||||
Commitments and Contingencies Disclosure [Line Items] | ||||||
Guarantee Obligations Maximum Exposure | 568,000 | 568,000 | 563,000 | |||
Guarantee Obligations Current Carrying Value | ¥ 2,394 | ¥ 2,394 | ¥ 2,317 | |||
[1]The allowance for off-balance sheet credit exposure were ¥22,120 million and ¥22,023 million as of March 31, 2022 and December 31, 2022, respectively, and the amounts are recorded in “Other liabilities” on the consolidated balance sheets. For further information, see Note 23 “Commitments, Guarantees and Contingent Liabilities.” |
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) - JPY (¥) ¥ in Millions | Dec. 31, 2022 | Mar. 31, 2022 |
Commitments and Contingencies Disclosure [Abstract] | ||
Within one year | ¥ 5,984 | ¥ 5,205 |
More than one year | 7,688 | 5,569 |
Total | ¥ 13,672 | ¥ 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 | 9 Months Ended | 12 Months Ended |
Dec. 31, 2022 | Mar. 31, 2022 | |
Guarantor Obligations [Line Items] | ||
Potential future payment | ¥ 1,217,211 | ¥ 1,153,273 |
Book value of guarantee liabilities | 58,379 | 60,458 |
Transferred loans | ||
Guarantor Obligations [Line Items] | ||
Potential future payment | 438,392 | 417,587 |
Book value of guarantee liabilities | ¥ 2,781 | ¥ 4,103 |
Maturity of the longest contract (Years) | 2062 | 2062 |
Consumer loans | ||
Guarantor Obligations [Line Items] | ||
Potential future payment | ¥ 290,057 | ¥ 284,891 |
Book value of guarantee liabilities | ¥ 48,462 | ¥ 47,461 |
Maturity of the longest contract (Years) | 2033 | 2033 |
Real estate loans | ||
Guarantor Obligations [Line Items] | ||
Potential future payment | ¥ 6,589 | ¥ 12,087 |
Book value of guarantee liabilities | ¥ 2,075 | ¥ 3,953 |
Maturity of the longest contract (Years) | 2048 | 2048 |
Other | ||
Guarantor Obligations [Line Items] | ||
Potential future payment | ¥ 2,486 | ¥ 2,294 |
Book value of guarantee liabilities | ¥ 0 | ¥ 46 |
Maturity of the longest contract (Years) | 2036 | 2035 |
Corporate loans | ||
Guarantor Obligations [Line Items] | ||
Potential future payment | ¥ 479,687 | ¥ 436,414 |
Book value of guarantee liabilities | ¥ 5,061 | ¥ 4,895 |
Maturity of the longest contract (Years) | 2028 | 2027 |
Commitments, Guarantees, and _3
Commitments, Guarantees, and Contingent Liabilities (Assets Provided as Collateral for Short-Term and Long-Term Debt Payables to Financial Institutions) (Detail) - JPY (¥) ¥ in Millions | Dec. 31, 2022 | Mar. 31, 2022 |
Debt Disclosure [Abstract] | ||
Lease payments, loans and investment in operating leases | ¥ 111,694 | ¥ 106,699 |
Investment in securities | 173,845 | 175,912 |
Property under facility operations | 125,676 | 112,730 |
Other assets and other | 69,098 | 27,784 |
Total | ¥ 480,313 | ¥ 423,125 |
Segment Information (Financial
Segment Information (Financial Information of Segments) (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | Mar. 31, 2022 | |
Segment Reporting Information [Line Items] | |||||
Revenues | ¥ 630,028 | ¥ 626,579 | ¥ 1,994,844 | ¥ 1,868,113 | |
Segment profits | 91,049 | 63,009 | 216,658 | 215,728 | |
Segment assets | 14,553,890 | 14,553,890 | ¥ 14,270,672 | ||
Operating Segment | |||||
Segment Reporting Information [Line Items] | |||||
Revenues | 629,647 | 626,919 | 1,990,860 | 1,869,486 | |
Segment profits | 120,712 | 105,395 | 290,664 | 334,899 | |
Segment assets | 12,186,705 | 12,186,705 | 11,999,584 | ||
Operating Segment | Corporate Financial Services and Maintenance Leasing | |||||
Segment Reporting Information [Line Items] | |||||
Revenues | 110,220 | 107,670 | 321,647 | 337,945 | |
Segment profits | 20,962 | 15,608 | 56,444 | 61,871 | |
Segment assets | 1,515,425 | 1,515,425 | 1,516,795 | ||
Operating Segment | Real Estate | |||||
Segment Reporting Information [Line Items] | |||||
Revenues | 97,806 | 91,743 | 288,293 | 294,257 | |
Segment profits | 5,537 | 3,598 | 24,486 | 26,629 | |
Segment assets | 946,145 | 946,145 | 910,101 | ||
Operating Segment | PE Investment And Concession | |||||
Segment Reporting Information [Line Items] | |||||
Revenues | 61,217 | 88,859 | 312,090 | 281,009 | |
Segment profits | 2,808 | (12,184) | 6,713 | (10,570) | |
Segment assets | 340,764 | 340,764 | 353,581 | ||
Operating Segment | Environment and Energy | |||||
Segment Reporting Information [Line Items] | |||||
Revenues | 57,505 | 43,269 | 168,419 | 107,167 | |
Segment profits | 23,558 | 8,830 | 34,140 | 18,332 | |
Segment assets | 761,789 | 761,789 | 703,608 | ||
Operating Segment | Insurance | |||||
Segment Reporting Information [Line Items] | |||||
Revenues | 94,215 | 117,104 | 360,085 | 352,192 | |
Segment profits | 11,003 | 12,347 | 24,010 | 44,669 | |
Segment assets | 1,944,773 | 1,944,773 | 2,072,145 | ||
Operating Segment | Banking and credit | |||||
Segment Reporting Information [Line Items] | |||||
Revenues | 21,380 | 21,922 | 62,324 | 65,019 | |
Segment profits | 9,653 | 11,690 | 24,868 | 32,599 | |
Segment assets | 2,727,982 | 2,727,982 | 2,687,156 | ||
Operating Segment | Aircraft and Ships | |||||
Segment Reporting Information [Line Items] | |||||
Revenues | 13,873 | 11,557 | 42,369 | 29,305 | |
Segment profits | 6,358 | 2,472 | 17,007 | 2,841 | |
Segment assets | 695,819 | 695,819 | 684,098 | ||
Operating Segment | ORIX USA | |||||
Segment Reporting Information [Line Items] | |||||
Revenues | 55,329 | 37,709 | 135,261 | 122,697 | |
Segment profits | 11,436 | 20,339 | 33,032 | 67,433 | |
Segment assets | 1,454,653 | 1,454,653 | 1,364,142 | ||
Operating Segment | ORIX Europe | |||||
Segment Reporting Information [Line Items] | |||||
Revenues | 67,817 | 69,913 | 157,653 | 171,017 | |
Segment profits | 19,474 | 27,529 | 35,893 | 55,987 | |
Segment assets | 404,920 | 404,920 | 401,869 | ||
Operating Segment | Asia and Australia | |||||
Segment Reporting Information [Line Items] | |||||
Revenues | 50,285 | 37,173 | 142,719 | 108,878 | |
Segment profits | 9,923 | ¥ 15,166 | 34,071 | ¥ 35,108 | |
Segment assets | ¥ 1,394,435 | ¥ 1,394,435 | ¥ 1,306,089 |
Segment Information (Reconcilia
Segment Information (Reconciliation of Segment Totals to Consolidated Financial Statement Amounts) (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | Mar. 31, 2022 | |
Segment revenues: | |||||
Revenues | ¥ 630,028 | ¥ 626,579 | ¥ 1,994,844 | ¥ 1,868,113 | |
Segment profits: | |||||
Total profits for segments | 88,175 | 73,202 | 237,308 | 282,119 | |
Net income attributable to the noncontrolling interests and net income attributable to the redeemable noncontrolling interests | (23) | 0 | |||
Income before Income Taxes | 119,127 | 95,900 | 283,473 | 316,689 | |
Segment assets: | |||||
Trade notes, accounts and other receivable | 369,666 | 369,666 | ¥ 359,949 | ||
Other corporate assets | 1,926,928 | 1,926,928 | 1,732,379 | ||
Assets | 14,553,890 | 14,553,890 | 14,270,672 | ||
Operating Segment | |||||
Segment revenues: | |||||
Revenues | 629,647 | 626,919 | 1,990,860 | 1,869,486 | |
Segment profits: | |||||
Total profits for segments | 120,712 | 105,395 | 290,664 | 334,899 | |
Segment assets: | |||||
Assets | 12,186,705 | 12,186,705 | 11,999,584 | ||
Corporate, Non-Segment | |||||
Segment revenues: | |||||
Revenues | 6,348 | 4,418 | 19,000 | 12,998 | |
Segment profits: | |||||
Corporate profits (losses) | (3,307) | (7,785) | (13,483) | (22,719) | |
Net income attributable to the noncontrolling interests and net income attributable to the redeemable noncontrolling interests | 1,722 | (1,710) | 6,292 | 4,509 | |
Segment assets: | |||||
Cash and cash equivalents, restricted cash | 1,067,018 | 1,067,018 | 1,091,812 | ||
Allowance for credit losses | (68,815) | (68,815) | (69,459) | ||
Trade notes, accounts and other receivable | 369,666 | 369,666 | 359,949 | ||
Other corporate assets | 999,316 | 999,316 | ¥ 888,786 | ||
Inter-segment transactions | |||||
Segment revenues: | |||||
Revenues | ¥ (5,967) | ¥ (4,758) | ¥ (15,016) | ¥ (14,371) |
Segment Information (Geographic
Segment Information (Geographical Revenues and Income before Income Taxes) (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | ||
Segment Reporting Information [Line Items] | |||||
Total Revenues | ¥ 630,028 | ¥ 626,579 | ¥ 1,994,844 | ¥ 1,868,113 | |
Income before Income Taxes | 119,127 | 95,900 | 283,473 | 316,689 | |
Japan | Reportable Geographical Components | |||||
Segment Reporting Information [Line Items] | |||||
Total Revenues | 438,376 | 470,052 | 1,503,642 | 1,434,244 | |
Income before Income Taxes | 50,913 | 27,914 | 136,597 | 146,839 | |
The Americas | Reportable Geographical Components | |||||
Segment Reporting Information [Line Items] | |||||
Total Revenues | [1] | 80,572 | 60,927 | 189,964 | 184,614 |
Income before Income Taxes | [1] | 30,357 | 24,610 | 55,273 | 84,667 |
Other Countries | Reportable Geographical Components | |||||
Segment Reporting Information [Line Items] | |||||
Total Revenues | [2] | 111,080 | 95,600 | 301,238 | 249,255 |
Income before Income Taxes | [2] | ¥ 37,857 | ¥ 43,376 | ¥ 91,603 | ¥ 85,183 |
[1]Mainly the United States[2]Mainly Asia, Europe, Australasia and Middle East |
Segment Information - Additiona
Segment Information - Additional Information (Detail) | 9 Months Ended |
Dec. 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 | 3 Months Ended | 9 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | ||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | ¥ 306,525 | ¥ 321,665 | ¥ 1,000,124 | ¥ 916,776 | |
Other revenues | [1] | 323,503 | 304,914 | 994,720 | 951,337 |
Segment revenues /Total revenues | 630,028 | 626,579 | 1,994,844 | 1,868,113 | |
Sales of goods | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 34,473 | 77,290 | 260,420 | 248,768 | |
Real estate sales | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 17,486 | 15,973 | 56,559 | 75,150 | |
Asset Management and Servicing | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 70,960 | 75,443 | 183,267 | 185,905 | |
Automobile related services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 21,651 | 19,908 | 61,657 | 57,706 | |
Facilities operation | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 15,883 | 10,934 | 40,880 | 24,246 | |
Environment and energy services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 54,913 | 42,129 | 163,782 | 104,567 | |
Real estate management and brokerage | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 24,730 | 25,198 | 74,083 | 75,403 | |
Real estate contract work | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 39,058 | 26,098 | 79,991 | 65,361 | |
Other | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 27,371 | 28,692 | 79,485 | 79,670 | |
Japan | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 221,280 | 238,110 | 776,660 | 714,791 | |
The Americas | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 29,249 | 30,203 | 81,152 | 78,712 | |
Other Countries | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 55,996 | 53,352 | 142,312 | 123,273 | |
Operating Segment | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 306,717 | 321,433 | 997,397 | 916,638 | |
Other revenues | [1] | 322,930 | 305,486 | 993,463 | 952,848 |
Segment revenues /Total revenues | 629,647 | 626,919 | 1,990,860 | 1,869,486 | |
Operating Segment | Sales of goods | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 33,850 | 76,671 | 258,537 | 247,517 | |
Operating Segment | Real estate sales | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 17,486 | 15,973 | 56,559 | 75,150 | |
Operating Segment | Asset Management and Servicing | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 71,147 | 75,457 | 183,473 | 185,950 | |
Operating Segment | Automobile related services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 21,650 | 19,892 | 61,655 | 57,696 | |
Operating Segment | Facilities operation | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 15,648 | 10,670 | 40,257 | 23,674 | |
Operating Segment | Environment and energy services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 55,401 | 42,603 | 165,223 | 106,055 | |
Operating Segment | Real estate management and brokerage | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 25,116 | 25,661 | 75,219 | 77,346 | |
Operating Segment | Real estate contract work | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 39,152 | 26,145 | 80,064 | 65,516 | |
Operating Segment | Other | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 27,267 | 28,361 | 76,410 | 77,734 | |
Operating Segment | Corporate Financial Services and Maintenance Leasing | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 28,848 | 32,944 | 83,251 | 97,386 | |
Other revenues | [1] | 81,372 | 74,726 | 238,396 | 240,559 |
Segment revenues /Total revenues | 110,220 | 107,670 | 321,647 | 337,945 | |
Operating Segment | Corporate Financial Services and Maintenance Leasing | Sales of goods | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 1,105 | 2,179 | 3,909 | 7,691 | |
Operating Segment | Corporate Financial Services and Maintenance Leasing | Real estate sales | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 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 | 77 | 83 | 238 | 243 | |
Operating Segment | Corporate Financial Services and Maintenance Leasing | Automobile related services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 16,652 | 16,230 | 47,571 | 47,562 | |
Operating Segment | Corporate Financial Services and Maintenance Leasing | Facilities operation | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 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 | 618 | 659 | 2,367 | 2,220 | |
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 | 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 | 0 | |
Operating Segment | Corporate Financial Services and Maintenance Leasing | Other | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 10,396 | 13,793 | 29,166 | 39,670 | |
Operating Segment | Real Estate | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 88,114 | 80,755 | 248,224 | 249,205 | |
Other revenues | [1] | 9,692 | 10,988 | 40,069 | 45,052 |
Segment revenues /Total revenues | 97,806 | 91,743 | 288,293 | 294,257 | |
Operating Segment | Real Estate | Sales of goods | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 814 | 567 | 2,260 | 2,013 | |
Operating Segment | Real Estate | Real estate sales | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 17,484 | 15,967 | 56,548 | 75,077 | |
Operating Segment | Real Estate | Asset Management and Servicing | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 2,903 | 1,427 | 6,076 | 4,544 | |
Operating Segment | Real Estate | Automobile related services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | Real Estate | Facilities operation | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 15,648 | 10,670 | 40,257 | 23,674 | |
Operating Segment | Real Estate | Environment and energy services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 10 | 0 | 34 | 0 | |
Operating Segment | Real Estate | Real estate management and brokerage | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 25,116 | 25,661 | 75,219 | 77,346 | |
Operating Segment | Real Estate | Real estate contract work | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 25,922 | 26,145 | 66,834 | 65,516 | |
Operating Segment | Real Estate | Other | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 217 | 318 | 996 | 1,035 | |
Operating Segment | PE Investment and Concession | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 50,552 | 79,195 | 282,803 | 253,987 | |
Other revenues | [1] | 10,665 | 9,664 | 29,287 | 27,022 |
Segment revenues /Total revenues | 61,217 | 88,859 | 312,090 | 281,009 | |
Operating Segment | PE Investment and Concession | Sales of goods | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 29,484 | 71,958 | 246,164 | 233,064 | |
Operating Segment | PE Investment and Concession | Real estate sales | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | PE Investment and Concession | Asset Management and Servicing | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 4 | 0 | 16 | |
Operating Segment | PE Investment and Concession | Automobile related services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | PE Investment and Concession | Facilities operation | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | PE Investment and Concession | Environment and energy services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 25 | 22 | 65 | 66 | |
Operating Segment | PE Investment and Concession | Real estate management and brokerage | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | PE Investment and Concession | Real estate contract work | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 13,230 | 0 | 13,230 | 0 | |
Operating Segment | PE Investment and Concession | Other | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 7,813 | 7,211 | 23,344 | 20,841 | |
Operating Segment | Environment and Energy | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 55,791 | 43,000 | 165,543 | 106,387 | |
Other revenues | [1] | 1,714 | 269 | 2,876 | 780 |
Segment revenues /Total revenues | 57,505 | 43,269 | 168,419 | 107,167 | |
Operating Segment | Environment and Energy | Sales of goods | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 1,132 | 980 | 2,964 | 2,668 | |
Operating Segment | Environment and Energy | Real estate sales | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | Environment and Energy | Asset Management and Servicing | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 9 | 14 | 145 | 14 | |
Operating Segment | Environment and Energy | Automobile related services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 59 | 59 | 210 | 160 | |
Operating Segment | Environment and Energy | Facilities operation | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | Environment and Energy | Environment and energy services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 54,478 | 41,649 | 161,573 | 102,815 | |
Operating Segment | Environment and Energy | Real estate management and brokerage | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | Environment and Energy | Real estate contract work | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | Environment and Energy | Other | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 113 | 298 | 651 | 730 | |
Operating Segment | Insurance | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 660 | 495 | 1,948 | 1,497 | |
Other revenues | [1] | 93,555 | 116,609 | 358,137 | 350,695 |
Segment revenues /Total revenues | 94,215 | 117,104 | 360,085 | 352,192 | |
Operating Segment | Insurance | Sales of goods | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | Insurance | Real estate sales | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | Insurance | Asset Management and Servicing | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | Insurance | Automobile related services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | Insurance | Facilities operation | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | Insurance | Environment and energy services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | Insurance | Real estate management and brokerage | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | Insurance | Real estate contract work | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | Insurance | Other | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 660 | 495 | 1,948 | 1,497 | |
Operating Segment | Banking and Credit | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 1,860 | 1,719 | 5,357 | 4,686 | |
Other revenues | [1] | 19,520 | 20,203 | 56,967 | 60,333 |
Segment revenues /Total revenues | 21,380 | 21,922 | 62,324 | 65,019 | |
Operating Segment | Banking and Credit | Sales of goods | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | Banking and Credit | Real estate sales | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | Banking and Credit | Asset Management and Servicing | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 124 | 83 | 347 | 228 | |
Operating Segment | Banking and Credit | Automobile related services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | Banking and Credit | Facilities operation | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 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 | 0 | |
Operating Segment | Banking and Credit | Real estate management and brokerage | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 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 | 0 | |
Operating Segment | Banking and Credit | Other | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 1,736 | 1,636 | 5,010 | 4,458 | |
Operating Segment | Aircraft and Ships | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 3,359 | 2,684 | 8,453 | 5,856 | |
Other revenues | [1] | 10,514 | 8,873 | 33,916 | 23,449 |
Segment revenues /Total revenues | 13,873 | 11,557 | 42,369 | 29,305 | |
Operating Segment | Aircraft and Ships | Sales of goods | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | Aircraft and Ships | Real estate sales | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | Aircraft and Ships | Asset Management and Servicing | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 17 | 10 | 51 | 25 | |
Operating Segment | Aircraft and Ships | Automobile related services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | Aircraft and Ships | Facilities operation | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 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 | 0 | |
Operating Segment | Aircraft and Ships | Real estate management and brokerage | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 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 | 0 | |
Operating Segment | Aircraft and Ships | Other | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 3,342 | 2,674 | 8,402 | 5,831 | |
Operating Segment | ORIX USA | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 9,295 | 8,514 | 24,504 | 19,436 | |
Other revenues | [1] | 46,034 | 29,195 | 110,757 | 103,261 |
Segment revenues /Total revenues | 55,329 | 37,709 | 135,261 | 122,697 | |
Operating Segment | ORIX USA | Sales of goods | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 659 | 640 | 1,926 | 1,706 | |
Operating Segment | ORIX USA | Real estate sales | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 2 | 6 | 11 | 73 | |
Operating Segment | ORIX USA | Asset Management and Servicing | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 5,751 | 5,889 | 15,977 | 13,695 | |
Operating Segment | ORIX USA | Automobile related services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | ORIX USA | Facilities operation | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | ORIX USA | Environment and energy services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 270 | 273 | 1,184 | 954 | |
Operating Segment | ORIX USA | Real estate management and brokerage | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | ORIX USA | Real estate contract work | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | ORIX USA | Other | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 2,613 | 1,706 | 5,406 | 3,008 | |
Operating Segment | ORIX Europe | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 62,317 | 67,966 | 160,731 | 167,242 | |
Other revenues | [1] | 5,500 | 1,947 | (3,078) | 3,775 |
Segment revenues /Total revenues | 67,817 | 69,913 | 157,653 | 171,017 | |
Operating Segment | ORIX Europe | Sales of goods | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | ORIX Europe | Real estate sales | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | ORIX Europe | Asset Management and Servicing | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 62,263 | 67,947 | 160,636 | 167,185 | |
Operating Segment | ORIX Europe | Automobile related services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | ORIX Europe | Facilities operation | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | ORIX Europe | Environment and energy services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 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 | 0 | |
Operating Segment | ORIX Europe | Real estate contract work | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | ORIX Europe | Other | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 54 | 19 | 95 | 57 | |
Operating Segment | Asia and Australia | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 5,921 | 4,161 | 16,583 | 10,956 | |
Other revenues | [1] | 44,364 | 33,012 | 126,136 | 97,922 |
Segment revenues /Total revenues | 50,285 | 37,173 | 142,719 | 108,878 | |
Operating Segment | Asia and Australia | Sales of goods | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 656 | 347 | 1,314 | 375 | |
Operating Segment | Asia and Australia | Real estate sales | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | Asia and Australia | Asset Management and Servicing | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 3 | 0 | 3 | 0 | |
Operating Segment | Asia and Australia | Automobile related services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 4,939 | 3,603 | 13,874 | 9,974 | |
Operating Segment | Asia and Australia | Facilities operation | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | Asia and Australia | Environment and energy services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 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 | 0 | |
Operating Segment | Asia and Australia | Real estate contract work | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | Asia and Australia | Other | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 323 | 211 | 1,392 | 607 | |
Operating Segment | Japan | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 220,791 | 237,820 | 772,914 | 714,573 | |
Operating Segment | Japan | Corporate Financial Services and Maintenance Leasing | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 28,848 | 32,944 | 83,251 | 96,919 | |
Operating Segment | Japan | Real Estate | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 88,114 | 80,755 | 248,224 | 249,205 | |
Operating Segment | Japan | PE Investment and Concession | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 50,552 | 79,195 | 282,803 | 253,987 | |
Operating Segment | Japan | Environment and Energy | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 49,266 | 41,353 | 148,401 | 104,740 | |
Operating Segment | Japan | Insurance | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 660 | 495 | 1,948 | 1,497 | |
Operating Segment | Japan | Banking and Credit | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 1,860 | 1,719 | 5,357 | 4,686 | |
Operating Segment | Japan | Aircraft and Ships | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 1,491 | 1,359 | 2,930 | 3,539 | |
Operating Segment | Japan | ORIX USA | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | Japan | ORIX Europe | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | Japan | Asia and Australia | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | The Americas | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 29,249 | 30,203 | 81,152 | 78,712 | |
Operating Segment | The Americas | Corporate Financial Services and Maintenance Leasing | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | The Americas | Real Estate | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | The Americas | PE Investment and Concession | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | The Americas | Environment and Energy | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | The Americas | Insurance | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | The Americas | Banking and Credit | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | The Americas | Aircraft and Ships | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | The Americas | ORIX USA | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 9,295 | 8,514 | 24,504 | 19,436 | |
Operating Segment | The Americas | ORIX Europe | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 19,954 | 21,689 | 56,648 | 59,276 | |
Operating Segment | The Americas | Asia and Australia | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | Other Countries | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 56,677 | 53,410 | 143,331 | 123,353 | |
Operating Segment | Other Countries | Corporate Financial Services and Maintenance Leasing | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 467 | |
Operating Segment | Other Countries | Real Estate | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | Other Countries | PE Investment and Concession | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | Other Countries | Environment and Energy | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 6,525 | 1,647 | 17,142 | 1,647 | |
Operating Segment | Other Countries | Insurance | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | Other Countries | Banking and Credit | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | Other Countries | Aircraft and Ships | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 1,868 | 1,325 | 5,523 | 2,317 | |
Operating Segment | Other Countries | ORIX USA | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Operating Segment | Other Countries | ORIX Europe | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 42,363 | 46,277 | 104,083 | 107,966 | |
Operating Segment | Other Countries | Asia and Australia | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 5,921 | 4,161 | 16,583 | 10,956 | |
Corporate revenue and intersegment transactions [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | (192) | 232 | 2,727 | 138 | |
Other revenues | [1] | 573 | (572) | 1,257 | (1,511) |
Segment revenues /Total revenues | 381 | (340) | 3,984 | (1,373) | |
Corporate revenue and intersegment transactions [Member] | Sales of goods | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 623 | 619 | 1,883 | 1,251 | |
Corporate revenue and intersegment transactions [Member] | Real estate sales | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Corporate revenue and intersegment transactions [Member] | Asset Management and Servicing | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | (187) | (14) | (206) | (45) | |
Corporate revenue and intersegment transactions [Member] | Automobile related services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 1 | 16 | 2 | 10 | |
Corporate revenue and intersegment transactions [Member] | Facilities operation | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 235 | 264 | 623 | 572 | |
Corporate revenue and intersegment transactions [Member] | Environment and energy services | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | (488) | (474) | (1,441) | (1,488) | |
Corporate revenue and intersegment transactions [Member] | Real estate management and brokerage | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | (386) | (463) | (1,136) | (1,943) | |
Corporate revenue and intersegment transactions [Member] | Real estate contract work | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | (94) | (47) | (73) | (155) | |
Corporate revenue and intersegment transactions [Member] | Other | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 104 | 331 | 3,075 | 1,936 | |
Corporate revenue and intersegment transactions [Member] | Japan | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 489 | 290 | 3,746 | 218 | |
Corporate revenue and intersegment transactions [Member] | The Americas | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Corporate revenue and intersegment transactions [Member] | Other Countries | |||||
Segment Reporting Information [Line Items] | |||||
Revenues from contracts with customers | ¥ (681) | ¥ (58) | ¥ (1,019) | ¥ (80) | |
[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) - Subsequent Event [Member] - JPY (¥) ¥ in Billions | Jan. 31, 2023 | Jan. 20, 2023 |
Subsequent Event [Line Items] | ||
Common stock shares cancelled | 23,427,745 | |
DHC Corporation [Member] | ||
Subsequent Event [Line Items] | ||
Business acquisition, percentage of voting interests acquired | 91.10% | |
Business acquisition, effective date of Acquisition | Jan. 31, 2023 | |
Payments to acquire businesses, gross | ¥ 300 |