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v2.3.0.11

Pension Plans (Tables) | 12 Months Ended
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Mar. 31, 2011
Schedule of Defined Benefit Plans Disclosures | The funded status of the defined benefit pension plans, a substantial portion of which consists of domestic pension plans, as of March 31, 2010 and 2011 is as follows:
|  | Millions of yen |  |  | Millions of U.S. dollars |
|  | 2010 |  |  | 2011 |  |  | 2011 |
Change in benefit obligation: |  |  |  |  |  |  |  |  |  |  |  |
Benefit obligation at beginning of year |  | ¥ | 57,094 |  |  | ¥ | 56,390 |  |  | $ | 679 |
Service cost |  |  | 3,255 |  |  |  | 3,104 |  |  |  | 37 |
Interest cost |  |  | 1,265 |  |  |  | 1,355 |  |  |  | 16 |
Plan amendments |  |  | 210 |  |  |  | 0 |  |  |  | 0 |
Actuarial loss (gain) |  |  | (3,229 | ) |  |  | 1,147 |  |  |  | 14 |
Foreign currency exchange rate change |  |  | (144 | ) |  |  | (415 | ) |  |  | (5 | )
Benefits paid |  |  | (1,830 | ) |  |  | (2,423 | ) |  |  | (29 | )
Plan Settlements |  |  | (64 | ) |  |  | (231 | ) |  |  | (3 | )
Other |  |  | (167 | ) |  |  | (338 | ) |  |  | (4 | )
Benefit obligation at end of year |  |  | 56,390 |  |  |  | 58,589 |  |  |  | 705 |
Change in plan assets: |  |  |  |  |  |  |  |  |  |  |  |
Fair value of plan assets at beginning of year |  |  | 74,111 |  |  |  | 85,967 |  |  |  | 1,033 |
Actual return on plan assets |  |  | 9,382 |  |  |  | (449 | ) |  |  | (5 | )
Employer contribution |  |  | 4,291 |  |  |  | 2,556 |  |  |  | 30 |
Benefits paid |  |  | (1,713 | ) |  |  | (2,362 | ) |  |  | (28 | )
Foreign currency exchange rate change |  |  | (104 | ) |  |  | (277 | ) |  |  | (3 | )
Plan settlements |  |  | 0 |  |  |  | (39 | ) |  |  | 0 |
Fair value of plan assets at end of year |  |  | 85,967 |  |  |  | 85,396 |  |  |  | 1,027 |
The funded status of the plans |  | ¥ | 29,577 |  |  | ¥ | 26,807 |  |  | $ | 322 |
Amount recognized in the consolidated balance sheets consists of: |  |  |  |  |  |  |  |  |  |  |  |
Prepaid benefit cost included in prepaid expenses |  | ¥ | 32,589 |  |  | ¥ | 29,125 |  |  | $ | 350 |
Accrued benefit liability included in accrued expenses |  |  | (3,012 | ) |  |  | (2,318 | ) |  |  | (28 | )
Net amount recognized |  | ¥ | 29,577 |  |  | ¥ | 26,807 |  |  | $ | 322 |
Defined Benefit Plans Amounts Recognized in Accumulated Other Comprehensive Income | Amount recognized in accumulated other comprehensive income (loss), pre-tax, at March 31, 2010 and 2011 consisted of:
|  | Millions of yen |  |  | Millions of U.S. dollars |
|  | 2010 |  |  | 2011 |  |  | 2011 |
Net prior service credit |  | ¥ | 10,095 |  |  | ¥ | 8,910 |  |  | $ | 107 |
Net actuarial loss |  |  | (25,010 | ) |  |  | (27,257 | ) |  |  | (328 | )
Net transition obligation |  |  | (381 | ) |  |  | (382 | ) |  |  | (4 | )
Total recognized in accumulated other comprehensive income (loss), pre-tax |  | ¥ | (15,296 | ) |  | ¥ | (18,729 | ) |  | $ | (225 | )
Pension, Net Periodic Benefit Costs, Disclosure | Net pension cost of the plans for fiscal 2009, 2010 and 2011 consists of the following:
|  | Millions of yen |  |  | Millions of U.S. dollars |
|  | 2009 |  |  | 2010 |  |  | 2011 |  |  | 2011 |
Service cost |  | ¥ | 3,049 |  |  | ¥ | 3,255 |  |  | ¥ | 3,104 |  |  | $ | 37 |
Interest cost |  |  | 1,327 |  |  |  | 1,265 |  |  |  | 1,355 |  |  |  | 16 |
Expected return on plan assets |  |  | (2,033 | ) |  |  | (1,747 | ) |  |  | (2,025 | ) |  |  | (24 | )
Amortization of transition obligation |  |  | (3 | ) |  |  | (3 | ) |  |  | (4 | ) |  |  | 0 |
Amortization of net actuarial loss |  |  | 724 |  |  |  | 2,098 |  |  |  | 1,036 |  |  |  | 12 |
Amortization of prior service credit |  |  | (1,208 | ) |  |  | (1,209 | ) |  |  | (1,193 | ) |  |  | (14 | )
Plan curtailments and settlements |  |  | 0 |  |  |  | 3 |  |  |  | 0 |  |  |  | 0 |
Net periodic pension cost |  | ¥ | 1,856 |  |  | ¥ | 3,662 |  |  | ¥ | 2,273 |  |  | $ | 27 |
Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss) Table | Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss) for fiscal 2009, 2010 and 2011 are summarized as follows:
|  | Millions of yen |  |  | Millions of U.S. dollars |
|  | 2009 |  |  | 2010 |  |  | 2011 |  |  | 2011 |
Current year actuarial gain (loss) |  | ¥ | (19,970 | ) |  | ¥ | 11,275 |  |  | ¥ | (3,446 | ) |  | $ | (41 | )
Amortization of net actuarial loss |  |  | 724 |  |  |  | 2,098 |  |  |  | 1,036 |  |  |  | 12 |
Prior service credit due to amendments |  |  | (63 | ) |  |  | (183 | ) |  |  | 8 |  |  |  | 0 |
Amortization of prior service credit |  |  | (1,208 | ) |  |  | (1,209 | ) |  |  | (1,193 | ) |  |  | (14 | )
Amortization of transition obligation |  |  | (3 | ) |  |  | (3 | ) |  |  | (4 | ) |  |  | 0 |
Plan curtailments and settlements |  |  | 0 |  |  |  | 3 |  |  |  | 0 |  |  |  | 0 |
Foreign currency exchange rate change |  |  | 60 |  |  |  | 69 |  |  |  | 166 |  |  |  | 2 |
Total recognized in other comprehensive income (loss), pre-tax |  | ¥ | (20,460 | ) |  | ¥ | 12,050 |  |  | ¥ | (3,433 | ) |  | $ | (41 | )
Defined Benefit Pension Plan Assumptions Used Calculating Benefit Obligations and Net Periodic Benefit Cost | Significant assumptions of domestic and overseas pension plans used to determine these amounts are as follows:
Domestic |  | 2009 |  |  | 2010 |  |  | 2011 |
Weighted-average assumptions used to determine benefit obligations at March 31: |  |  |  |  |  |  |  |  |  |  |  |
Discount rate |  |  | 1.9 | % |  |  | 2.1 | % |  |  | 2.1 | %
Rate of increase in compensation levels |  |  | 5.8 | % |  |  | 5.9 | % |  |  | 6.1 | %
Weighted-average assumptions used to determine net periodic pension cost for years ended March 31: |  |  |  |  |  |  |  |  |  |  |  |
Discount rate |  |  | 2.2 | % |  |  | 1.9 | % |  |  | 2.1 | %
Rate of increase in compensation levels |  |  | 6.2 | % |  |  | 5.8 | % |  |  | 5.9 | %
Expected long-term rate of return on plan assets |  |  | 2.2 | % |  |  | 2.2 | % |  |  | 2.2 | %
Overseas |  | 2009 |  |  | 2010 |  |  | 2011 |
Weighted-average assumptions used to determine benefit obligations at March 31: |  |  |  |  |  |  |  |  |  |  |  |
Discount rate. |  |  | 7.1 | % |  |  | 6.0 | % |  |  | 5.5 | %
Rate of increase in compensation levels |  |  | 0.6 | % |  |  | 0.8 | % |  |  | 0.8 | %
Weighted-average assumptions used to determine net periodic pension cost for years ended March 31: |  |  |  |  |  |  |  |  |  |  |  |
Discount rate |  |  | 6.5 | % |  |  | 7.1 | % |  |  | 6.0 | %
Rate of increase in compensation levels |  |  | 0.7 | % |  |  | 0.6 | % |  |  | 0.8 | %
Expected long-term rate of return on plan assets |  |  | 8.2 | % |  |  | 8.1 | % |  |  | 8.1 | %
Pension Plans Fair Value, Assets Measured on Recurring Basis | The fair value of pension plan assets at March 31, 2010 and 2011, by asset category, are as follows: March 31, 2010
|  | Millions of yen |
|  | Total |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Equity securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Japan |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Japanese companies (1) |  | ¥ | 903 |  |  | ¥ | 903 |  |  | ¥ | 0 |  |  | ¥ | 0 |
Pooled funds (2) |  |  | 19,335 |  |  |  | 0 |  |  |  | 19,335 |  |  |  | 0 |
Other than Japan |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pooled funds (3) |  |  | 11,514 |  |  |  | 0 |  |  |  | 11,514 |  |  |  | 0 |
Debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Japan |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pooled funds (4) |  |  | 25,847 |  |  |  | 0 |  |  |  | 25,847 |  |  |  | 0 |
Other than Japan |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Asset backed securities |  |  | 1,060 |  |  |  | 0 |  |  |  | 1,060 |  |  |  | 0 |
Pooled funds (5) |  |  | 7,416 |  |  |  | 0 |  |  |  | 7,416 |  |  |  | 0 |
Alternative investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pooled funds (6) |  |  | 11,122 |  |  |  | 0 |  |  |  | 6,394 |  |  |  | 4,728 |
Other assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Life insurance company general accounts (7) |  |  | 5,291 |  |  |  | 0 |  |  |  | 5,291 |  |  |  | 0 |
Others (8) |  |  | 3,479 |  |  |  | 0 |  |  |  | 3,479 |  |  |  | 0 |
|  | ¥ | 85,967 |  |  | ¥ | 903 |  |  | ¥ | 80,336 |  |  | ¥ | 4,728 |
(1) | Equity securities of Japanese companies in which the Company and certain subsidiaries invest as pension plan assets include units of ORIX JREIT Inc. in the amounts of ¥36 million at March 31, 2010.
(2) | These funds invest in listing shares only.
(3) | These funds invest in listing shares only.
(4) | These funds invest approximately 70% in Japanese government bonds, approximately 10% in Japanese municipal bonds, and approximately 20% in Japanese corporate bonds.
(5) | These funds invest mainly in foreign government bonds.
(6) | These funds invest in hedge funds as alternative investments.
(7) | Life insurance company general accounts are accounts with guaranteed capital and minimum interest rate, in which life insurance companies manage funds on several contracts.
(8) | Others include mainly short-term instruments.
March 31, 2011
|  | Millions of yen |
|  | Total |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Equity securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Japan |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Japanese companies (1) |  | ¥ | 1,016 |  |  | ¥ | 1,016 |  |  | ¥ | 0 |  |  | ¥ | 0 |
Pooled funds (2) |  |  | 18,690 |  |  |  | 0 |  |  |  | 18,690 |  |  |  | 0 |
Other than Japan |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pooled funds (3) |  |  | 11,864 |  |  |  | 0 |  |  |  | 11,864 |  |  |  | 0 |
Debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Japan |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pooled funds (4) |  |  | 25,468 |  |  |  | 0 |  |  |  | 25,468 |  |  |  | 0 |
Other than Japan |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Asset backed securities |  |  | 1,076 |  |  |  | 0 |  |  |  | 1,076 |  |  |  | 0 |
Pooled funds (5) |  |  | 7,655 |  |  |  | 0 |  |  |  | 7,655 |  |  |  | 0 |
Alternative investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pooled funds (6) |  |  | 11,633 |  |  |  | 0 |  |  |  | 6,685 |  |  |  | 4,948 |
Other assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Life insurance company general accounts (7) |  |  | 5,386 |  |  |  | 0 |  |  |  | 5,386 |  |  |  | 0 |
Others (8) |  |  | 2,608 |  |  |  | 0 |  |  |  | 2,608 |  |  |  | 0 |
|  | ¥ | 85,396 |  |  | ¥ | 1,016 |  |  | ¥ | 79,432 |  |  | ¥ | 4,948 |
March 31, 2011
|  | Millions of U.S. dollars |
|  | Total |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Equity securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Japan |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Japanese companies (1) |  | $ | 12 |  |  | $ | 12 |  |  | $ | 0 |  |  | $ | 0 |
Pooled funds (2) |  |  | 225 |  |  |  | 0 |  |  |  | 225 |  |  |  | 0 |
Other than Japan |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pooled funds (3) |  |  | 143 |  |  |  | 0 |  |  |  | 143 |  |  |  | 0 |
Debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Japan |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pooled funds (4) |  |  | 306 |  |  |  | 0 |  |  |  | 306 |  |  |  | 0 |
Other than Japan |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Asset backed securities |  |  | 13 |  |  |  | 0 |  |  |  | 13 |  |  |  | 0 |
Pooled funds (5) |  |  | 92 |  |  |  | 0 |  |  |  | 92 |  |  |  | 0 |
Alternative investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pooled funds (6) |  |  | 140 |  |  |  | 0 |  |  |  | 80 |  |  |  | 60 |
Other assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Life insurance company general accounts (7) |  |  | 65 |  |  |  | 0 |  |  |  | 65 |  |  |  | 0 |
Others (8) |  |  | 31 |  |  |  | 0 |  |  |  | 31 |  |  |  | 0 |
|  | $ | 1,027 |  |  | $ | 12 |  |  | $ | 955 |  |  | $ | 60 |
(1) | Equity securities of Japanese companies in which the Company and certain subsidiaries invest as pension plan assets include units of ORIX JREIT Inc. in the amounts of ¥34 million ($0 million) at March 31, 2011.
(2) | These funds invest in listing shares only.
(3) | These funds invest in listing shares only.
(4) | These funds invest approximately 70% in Japanese government bonds, approximately 10% in Japanese municipal bonds, and approximately 20% in Japanese corporate bonds.
(5) | These funds invest mainly in foreign government bonds.
(6) | These funds invest in hedge funds as alternative investments.
(7) | Life insurance company general accounts are accounts with guaranteed capital and minimum interest rate, in which life insurance companies manage funds on several contracts.
(8) | Others include mainly short-term instruments.
Pension and Postretirement Plan Assets By Fair Value Hierarchy, Unobservable Input Reconciliation | The following table represents the reconciliation for the Level 3 plan assets during fiscal 2010 and 2011:
|  | Alternative investments |
|  | Pooled funds |
|  | 2010 |  |  | 2011 |  |  | 2011 |
|  | Millions of yen |  |  | Millions of yen |  |  | Millions of U.S. dollars |
Balance at beginning of year |  | ¥ | 3,514 |  |  | ¥ | 4,728 |  |  | $ | 57 |
Realized and unrealized return on plan assets |  |  | 453 |  |  |  | 220 |  |  |  | 3 |
Purchases, sales and redemptions, net |  |  | 761 |  |  |  | 0 |  |  |  | 0 |
Balance at end of year |  | ¥ | 4,728 |  |  | ¥ | 4,948 |  |  | $ | 60 |
Defined Benefit Plans Expected Future Benefit Payments Disclosure | At March 31, 2011, the benefits expected to be paid in each of the next five fiscal years, and in the aggregate for the five years thereafter are as follows:
Years ending March 31, |  | Millions of yen |  |  | Millions of U.S. dollars |
2012 |  | ¥ | 1,878 |  |  | $ | 23 |
2013 |  |  | 1,462 |  |  |  | 18 |
2014 |  |  | 1,506 |  |  |  | 18 |
2015 |  |  | 1,607 |  |  |  | 19 |
2016 |  |  | 1,711 |  |  |  | 22 |
2017-2021 |  |  | 10,930 |  |  |  | 130 |
Total |  | ¥ | 19,094 |  |  | $ | 230 |

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- Definition This element may be used to capture the entire disclosure for an employer that sponsors one or more defined benefit pension plans or one or more other defined benefit postretirement plans, of certain information, separately for pension plans and other postretirement benefit plans including the entity's schedule of fair value of plan assets for defined benefit or other postretirement plans. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 132R -Paragraph 5, 6, 7 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 132R -Paragraph 5 -Subparagraph d Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 158 -Paragraph 4, 7, 16, 20, 21 + Details
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