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Credit Quality of Financial Assets and the Allowance for Credit Losses | 6 Months Ended
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Sep. 30, 2023
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 financing receivables
| • |  | Non-accrual
Information about modifications of financing receivables made to debtors experiencing financial difficulty A portfolio segment is defined as the level at which an entity develops and documents a systematic methodology to determine its allowance for credit losses. The Company and its subsidiaries classify our portfolio segments by instruments of loans, net investment in leases and other financial assets measured at amortized cost. Classes of financial assets are determined based on the initial measurement attribute, risk characteristics of the financing receivables and the method for monitoring and assessing obligors’ credit risk and are defined as the level of detail necessary for a financial statement user to understand the risks inherent in the financial assets. Classes of financial assets generally are a disaggregation of a portfolio segment, and the Company and its subsidiaries disaggregate our portfolio segments into classes by regions, instruments or industries of our debtors. The following table provides information about the allowance for credit losses for installment loans, net investment in leases and other financial assets measured at amortized cost as of March 31, 2023, and for the six and three months ended September 30, 2022 and 2023:
|  | Six months ended September 30, 2022 |
|  | Millions of yen |
|  | Beginning balance |  |  | Provision (Reversal) *3 |  |  | Allowance of purchased loans during the reporting period |  |  | Charge-offs *4 |  |  | Recoveries |  |  | Other *5 |  |  | Ending balance *3 |  |  | Collective (pool) assessment |  |  | Individual assessment |
Allowance for credit losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Installment loans to consumer borrowers: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Japan |  | ¥ | 5,716 |  |  | ¥ | (0 | ) |  | ¥ | 0 |  |  | ¥ | (82 | ) |  | ¥ | 13 |  |  | ¥ | 1 |  |  | ¥ | 5,648 |  |  | ¥ | 5,153 |  |  | ¥ | 495 |
Overseas |  |  | 455 |  |  |  | (2 | ) |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 3 |  |  |  | 456 |  |  |  | 456 |  |  |  | 0 |
Card loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Japan |  |  | 10,019 |  |  |  | 228 |  |  |  | 0 |  |  |  | (265 | ) |  |  | 4 |  |  |  | 0 |  |  |  | 9,986 |  |  |  | 9,357 |  |  |  | 629 |
Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Japan |  |  | 5,204 |  |  |  | 2,152 |  |  |  | 0 |  |  |  | (865 | ) |  |  | 4 |  |  |  | 0 |  |  |  | 6,495 |  |  |  | 4,167 |  |  |  | 2,328 |
Overseas |  |  | 1,105 |  |  |  | 286 |  |  |  | 0 |  |  |  | (206 | ) |  |  | 0 |  |  |  | 137 |  |  |  | 1,322 |  |  |  | 1,187 |  |  |  | 135 |
Installment loans to corporate borrowers: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-recourse loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Japan |  |  | 81 |  |  |  | 1 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 82 |  |  |  | 82 |  |  |  | 0 |
The Americas |  |  | 2,691 |  |  |  | (944 | ) |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 122 |  |  |  | 1,869 |  |  |  | 857 |  |  |  | 1,012 |
Real estate companies |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Japan |  |  | 617 |  |  |  | (21 | ) |  |  | 0 |  |  |  | 0 |  |  |  | 13 |  |  |  | 1 |  |  |  | 610 |  |  |  | 489 |  |  |  | 121 |
Overseas |  |  | 735 |  |  |  | (98 | ) |  |  | 0 |  |  |  | (14 | ) |  |  | 0 |  |  |  | 57 |  |  |  | 680 |  |  |  | 680 |  |  |  | 0 |
Commercial, industrial companies |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Japan |  |  | 1,337 |  |  |  | 256 |  |  |  | 0 |  |  |  | (277 | ) |  |  | 7 |  |  |  | 0 |  |  |  | 1,323 |  |  |  | 475 |  |  |  | 848 |
Overseas |  |  | 18,296 |  |  |  | 114 |  |  |  | 0 |  |  |  | (1,825 | ) |  |  | 310 |  |  |  | 3,144 |  |  |  | 20,039 |  |  |  | 16,169 |  |  |  | 3,870 |
Purchased loans *1 |  |  | 1,575 |  |  |  | (242 | ) |  |  | 2,095 |  |  |  | (2,309 | ) |  |  | 56 |  |  |  | 12 |  |  |  | 1,187 |  |  |  | 563 |  |  |  | 624 |
Net investment in leases: |  |  | 16,303 |  |  |  | 582 |  |  |  | 0 |  |  |  | (1,430 | ) |  |  | 25 |  |  |  | 760 |  |  |  | 16,240 |  |  |  | 12,030 |  |  |  | 4,210 |
Subtotal |  |  | 64,134 |  |  |  | 2,312 |  |  |  | 2,095 |  |  |  | (7,273 | ) |  |  | 432 |  |  |  | 4,237 |  |  |  | 65,937 |  |  |  | 51,665 |  |  |  | 14,272 |
Other financial assets measured at amortized cost *2 |  |  | 7,282 |  |  |  | 157 |  |  |  | 0 |  |  |  | (4,567 | ) |  |  | 15 |  |  |  | 334 |  |  |  | 3,221 |  |  |  | 629 |  |  |  | 2,592 |
Total |  | ¥ | 71,416 |  |  | ¥ | 2,469 |  |  | ¥ | 2,095 |  |  | ¥ | (11,840 | ) |  | ¥ | 447 |  |  | ¥ | 4,571 |  |  | ¥ | 69,158 |  |  | ¥ | 52,294 |  |  | ¥ | 16,864 |
|  | Three months ended September 30, 2022 |
|  | Millions of yen |
|  | Beginning balance |  |  | Provision (Reversal) *3 |  |  | Allowance of purchased loans during the reporting period |  |  | Charge-offs *4 |  |  | Recoveries |  |  | Other *5 |  |  | Ending balance *3 |  |  | Collective (pool) assessment |  |  | Individual assessment |
Allowance for credit losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Installment loans to consumer borrowers: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Japan |  | ¥ | 5,725 |  |  | ¥ | (80 | ) |  | ¥ | 0 |  |  | ¥ | (3 | ) |  | ¥ | 5 |  |  | ¥ | 1 |  |  | ¥ | 5,648 |  |  | ¥ | 5,153 |  |  | ¥ | 495 |
Overseas |  |  | 471 |  |  |  | 1 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | (16 | ) |  |  | 456 |  |  |  | 456 |  |  |  | 0 |
Card loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Japan |  |  | 9,933 |  |  |  | 209 |  |  |  | 0 |  |  |  | (158 | ) |  |  | 2 |  |  |  | 0 |  |  |  | 9,986 |  |  |  | 9,357 |  |  |  | 629 |
Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Japan |  |  | 5,915 |  |  |  | 1,038 |  |  |  | 0 |  |  |  | (460 | ) |  |  | 2 |  |  |  | 0 |  |  |  | 6,495 |  |  |  | 4,167 |  |  |  | 2,328 |
Overseas |  |  | 1,164 |  |  |  | 242 |  |  |  | 0 |  |  |  | (140 | ) |  |  | 0 |  |  |  | 56 |  |  |  | 1,322 |  |  |  | 1,187 |  |  |  | 135 |
Installment loans to corporate borrowers: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-recourse loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Japan |  |  | 65 |  |  |  | 17 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 82 |  |  |  | 82 |  |  |  | 0 |
The Americas |  |  | 2,235 |  |  |  | (218 | ) |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | (148 | ) |  |  | 1,869 |  |  |  | 857 |  |  |  | 1,012 |
Real estate companies |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Japan |  |  | 600 |  |  |  | 4 |  |  |  | 0 |  |  |  | 0 |  |  |  | 5 |  |  |  | 1 |  |  |  | 610 |  |  |  | 489 |  |  |  | 121 |
Overseas |  |  | 630 |  |  |  | 54 |  |  |  | 0 |  |  |  | (14 | ) |  |  | 0 |  |  |  | 10 |  |  |  | 680 |  |  |  | 680 |  |  |  | 0 |
Commercial, industrial companies |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Japan |  |  | 1,206 |  |  |  | 220 |  |  |  | 0 |  |  |  | (107 | ) |  |  | 4 |  |  |  | 0 |  |  |  | 1,323 |  |  |  | 475 |  |  |  | 848 |
Overseas |  |  | 18,720 |  |  |  | 78 |  |  |  | 0 |  |  |  | (190 | ) |  |  | 281 |  |  |  | 1,150 |  |  |  | 20,039 |  |  |  | 16,169 |  |  |  | 3,870 |
Purchased loans *1 |  |  | 1,546 |  |  |  | (214 | ) |  |  | 2,067 |  |  |  | (2,261 | ) |  |  | 56 |  |  |  | (7 | ) |  |  | 1,187 |  |  |  | 563 |  |  |  | 624 |
Net investment in leases: |  |  | 16,665 |  |  |  | 123 |  |  |  | 0 |  |  |  | (650 | ) |  |  | 18 |  |  |  | 84 |  |  |  | 16,240 |  |  |  | 12,030 |  |  |  | 4,210 |
Subtotal |  |  | 64,875 |  |  |  | 1,474 |  |  |  | 2,067 |  |  |  | (3,983 | ) |  |  | 373 |  |  |  | 1,131 |  |  |  | 65,937 |  |  |  | 51,665 |  |  |  | 14,272 |
Other financial assets measured at amortized cost *2 |  |  | 2,976 |  |  |  | 161 |  |  |  | 0 |  |  |  | (31 | ) |  |  | (12 | ) |  |  | 127 |  |  |  | 3,221 |  |  |  | 629 |  |  |  | 2,592 |
Total |  | ¥ | 67,851 |  |  | ¥ | 1,635 |  |  | ¥ | 2,067 |  |  | ¥ | (4,014 | ) |  | ¥ | 361 |  |  | ¥ | 1,258 |  |  | ¥ | 69,158 |  |  | ¥ | 52,294 |  |  | ¥ | 16,864 |
|  | March 31, 2023 |
|  | Millions of yen |
|  | Ending balance *3 |  |  | Collective (pool) assessment |  |  | Individual assessment |
Allowance for credit losses: |  |  |  |  |  |  |  |  |  |  |  |
Installment loans to consumer borrowers: |  |  |  |  |  |  |  |  |  |  |  |
Real estate loans |  |  |  |  |  |  |  |  |  |  |  |
Japan |  | ¥ | 4,092 |  |  | ¥ | 3,644 |  |  | ¥ | 448 |
Overseas |  |  | 446 |  |  |  | 446 |  |  |  | 0 |
Card loans |  |  |  |  |  |  |  |  |  |  |  |
Japan |  |  | 9,022 |  |  |  | 8,329 |  |  |  | 693 |
Other |  |  |  |  |  |  |  |  |  |  |  |
Japan |  |  | 7,759 |  |  |  | 5,337 |  |  |  | 2,422 |
Overseas |  |  | 1,889 |  |  |  | 1,467 |  |  |  | 422 |
Installment loans to corporate borrowers: |  |  |  |  |  |  |  |  |  |  |  |
Non-recourse loans |  |  |  |  |  |  |  |  |  |  |  |
Japan |  |  | 253 |  |  |  | 253 |  |  |  | 0 |
The Americas |  |  | 1,494 |  |  |  | 560 |  |  |  | 934 |
Real estate companies |  |  |  |  |  |  |  |  |  |  |  |
Japan |  |  | 777 |  |  |  | 663 |  |  |  | 114 |
Overseas |  |  | 1,007 |  |  |  | 1,007 |  |  |  | 0 |
Commercial, industrial companies |  |  |  |  |  |  |  |  |  |  |  |
Japan |  |  | 1,152 |  |  |  | 477 |  |  |  | 675 |
Overseas |  |  | 19,132 |  |  |  | 16,455 |  |  |  | 2,677 |
Purchased loans *1 |  |  | 1,148 |  |  |  | 541 |  |  |  | 607 |
Net investment in leases: |  |  | 15,719 |  |  |  | 12,032 |  |  |  | 3,687 |
Subtotal |  |  | 63,890 |  |  |  | 51,211 |  |  |  | 12,679 |
Other financial assets measured at amortized cost *2 |  |  | 1,482 |  |  |  | 548 |  |  |  | 934 |
Total |  | ¥ | 65,372 |  |  | ¥ | 51,759 |  |  | ¥ | 13,613 |
|  | Six months ended September 30, 2023 |
|  | Millions of yen |
|  | Beginning balance |  |  | Provision (Reversal) *3 |  |  | Allowance of purchased loans during the reporting period |  |  | Charge-offs *4 |  |  | Recoveries |  |  | Other *5 |  |  | Ending balance *3 |  |  | Collective (pool) assessment |  |  | Individual assessment |
Allowance for credit losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Installment loans to consumer borrowers: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Japan |  | ¥ | 4,092 |  |  | ¥ | (50 | ) |  | ¥ | 0 |  |  | ¥ | (144 | ) |  | ¥ | 84 |  |  | ¥ | 1 |  |  | ¥ | 3,983 |  |  | ¥ | 3,613 |  |  | ¥ | 370 |
Overseas |  |  | 446 |  |  |  | 118 |  |  |  | 0 |  |  |  | 0 |  |  |  | 1 |  |  |  | 41 |  |  |  | 606 |  |  |  | 575 |  |  |  | 31 |
Card loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Japan |  |  | 9,022 |  |  |  | 753 |  |  |  | 0 |  |  |  | (450 | ) |  |  | 8 |  |  |  | 0 |  |  |  | 9,333 |  |  |  | 8,611 |  |  |  | 722 |
Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Japan |  |  | 7,759 |  |  |  | 2,970 |  |  |  | 0 |  |  |  | (1,806 | ) |  |  | 3 |  |  |  | 1 |  |  |  | 8,927 |  |  |  | 6,487 |  |  |  | 2,440 |
Overseas |  |  | 1,889 |  |  |  | 1,370 |  |  |  | 0 |  |  |  | (1,124 | ) |  |  | 163 |  |  |  | 238 |  |  |  | 2,536 |  |  |  | 1,896 |  |  |  | 640 |
Installment loans to corporate borrowers: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-recourse loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Japan |  |  | 253 |  |  |  | (27 | ) |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 226 |  |  |  | 226 |  |  |  | 0 |
The Americas |  |  | 1,494 |  |  |  | 197 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 192 |  |  |  | 1,883 |  |  |  | 837 |  |  |  | 1,046 |
Real estate companies |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Japan |  |  | 777 |  |  |  | 23 |  |  |  | 0 |  |  |  | (4 | ) |  |  | 13 |  |  |  | 0 |  |  |  | 809 |  |  |  | 705 |  |  |  | 104 |
Overseas |  |  | 1,007 |  |  |  | (68 | ) |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 82 |  |  |  | 1,021 |  |  |  | 1,021 |  |  |  | 0 |
Commercial, industrial companies |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Japan |  |  | 1,152 |  |  |  | (29 | ) |  |  | 0 |  |  |  | (23 | ) |  |  | 4 |  |  |  | 0 |  |  |  | 1,104 |  |  |  | 615 |  |  |  | 489 |
Overseas |  |  | 19,132 |  |  |  | 434 |  |  |  | 0 |  |  |  | (2,131 | ) |  |  | 101 |  |  |  | 2,107 |  |  |  | 19,643 |  |  |  | 16,288 |  |  |  | 3,355 |
Purchased loans *1 |  |  | 1,148 |  |  |  | 69 |  |  |  | 7,580 |  |  |  | (7,612 | ) |  |  | 1 |  |  |  | 12 |  |  |  | 1,198 |  |  |  | 511 |  |  |  | 687 |
Net investment in leases: |  |  | 15,719 |  |  |  | 1,717 |  |  |  | 0 |  |  |  | (1,234 | ) |  |  | 17 |  |  |  | 590 |  |  |  | 16,809 |  |  |  | 12,366 |  |  |  | 4,443 |
Subtotal |  |  | 63,890 |  |  |  | 7,477 |  |  |  | 7,580 |  |  |  | (14,528 | ) |  |  | 395 |  |  |  | 3,264 |  |  |  | 68,078 |  |  |  | 53,751 |  |  |  | 14,327 |
Other financial assets measured at amortized cost *2 |  |  | 1,482 |  |  |  | 254 |  |  |  | 0 |  |  |  | (178 | ) |  |  | 5 |  |  |  | 227 |  |  |  | 1,790 |  |  |  | 702 |  |  |  | 1,088 |
Total |  | ¥ | 65,372 |  |  | ¥ | 7,731 |  |  | ¥ | 7,580 |  |  | ¥ | (14,706 | ) |  | ¥ | 400 |  |  | ¥ | 3,491 |  |  | ¥ | 69,868 |  |  | ¥ | 54,453 |  |  | ¥ | 15,415 |
|  | Three months ended September 30, 2023 |
|  | Millions of yen |
|  | Beginning balance |  |  | Provision (Reversal) *3 |  |  | Allowance of purchased loans during the reporting period |  |  | Charge-offs *4 |  |  | Recoveries |  |  | Other *5 |  |  | Ending balance *3 |  |  | Collective (pool) assessment |  |  | Individual assessment |
Allowance for credit losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Installment loans to consumer borrowers: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Japan |  | ¥ | 4,003 |  |  | ¥ | 30 |  |  | ¥ | 0 |  |  | ¥ | (88 | ) |  | ¥ | 38 |  |  | ¥ | 0 |  |  | ¥ | 3,983 |  |  | ¥ | 3,613 |  |  | ¥ | 370 |
Overseas |  |  | 532 |  |  |  | 65 |  |  |  | 0 |  |  |  | 0 |  |  |  | 1 |  |  |  | 8 |  |  |  | 606 |  |  |  | 575 |  |  |  | 31 |
Card loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Japan |  |  | 9,102 |  |  |  | 433 |  |  |  | 0 |  |  |  | (206 | ) |  |  | 4 |  |  |  | 0 |  |  |  | 9,333 |  |  |  | 8,611 |  |  |  | 722 |
Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Japan |  |  | 8,487 |  |  |  | 1,369 |  |  |  | 0 |  |  |  | (930 | ) |  |  | 1 |  |  |  | 0 |  |  |  | 8,927 |  |  |  | 6,487 |  |  |  | 2,440 |
Overseas |  |  | 2,153 |  |  |  | 884 |  |  |  | 0 |  |  |  | (630 | ) |  |  | 82 |  |  |  | 47 |  |  |  | 2,536 |  |  |  | 1,896 |  |  |  | 640 |
Installment loans to corporate borrowers: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-recourse loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Japan |  |  | 262 |  |  |  | (36 | ) |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 226 |  |  |  | 226 |  |  |  | 0 |
The Americas |  |  | 1,727 |  |  |  | 98 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 58 |  |  |  | 1,883 |  |  |  | 837 |  |  |  | 1,046 |
Real estate companies |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Japan |  |  | 788 |  |  |  | 15 |  |  |  | 0 |  |  |  | 0 |  |  |  | 5 |  |  |  | 1 |  |  |  | 809 |  |  |  | 705 |  |  |  | 104 |
Overseas |  |  | 1,044 |  |  |  | (37 | ) |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 14 |  |  |  | 1,021 |  |  |  | 1,021 |  |  |  | 0 |
Commercial, industrial companies |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Japan |  |  | 976 |  |  |  | 128 |  |  |  | 0 |  |  |  | (1 | ) |  |  | 2 |  |  |  | (1 | ) |  |  | 1,104 |  |  |  | 615 |  |  |  | 489 |
Overseas |  |  | 18,929 |  |  |  | 1,411 |  |  |  | 0 |  |  |  | (1,337 | ) |  |  | 101 |  |  |  | 539 |  |  |  | 19,643 |  |  |  | 16,288 |  |  |  | 3,355 |
Purchased loans *1 |  |  | 1,189 |  |  |  | 36 |  |  |  | 7,261 |  |  |  | (7,288 | ) |  |  | 0 |  |  |  | 0 |  |  |  | 1,198 |  |  |  | 511 |  |  |  | 687 |
Net investment in leases: |  |  | 16,388 |  |  |  | 942 |  |  |  | 0 |  |  |  | (609 | ) |  |  | 0 |  |  |  | 88 |  |  |  | 16,809 |  |  |  | 12,366 |  |  |  | 4,443 |
Subtotal |  |  | 65,580 |  |  |  | 5,338 |  |  |  | 7,261 |  |  |  | (11,089 | ) |  |  | 234 |  |  |  | 754 |  |  |  | 68,078 |  |  |  | 53,751 |  |  |  | 14,327 |
Other financial assets measured at amortized cost *2 |  |  | 1,655 |  |  |  | 113 |  |  |  | 0 |  |  |  | (136 | ) |  |  | 5 |  |  |  | 153 |  |  |  | 1,790 |  |  |  | 702 |  |  |  | 1,088 |
Total |  | ¥ | 67,235 |  |  | ¥ | 5,451 |  |  | ¥ | 7,261 |  |  | ¥ | (11,225 | ) |  | ¥ | 239 |  |  | ¥ | 907 |  |  | ¥ | 69,868 |  |  | ¥ | 54,453 |  |  | ¥ | 15,415 |
Notes: |  | 1 |  | Loans held for sale and policy loan receivables of an insurance entity are not in the scope of allowance for credit losses.
|  | 2 |  | Held-to-maturity debt securities held by the Company and subsidiaries consist of Japanese government bonds (JGBs) and other securities secured by JGBs. There was no allowance for credit losses on these held-to-maturity debt securities. And there is no delinquency or on non-accrual status on held-to-maturity debt securities.
*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 financing 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 ¥1,674 million and ¥8,524 million during the six months ended September 30, 2022 and 2023, provisions of ¥1,426 million and ¥5,604 million during the three months ended September 30, 2022 and 2023, respectively. “Allowance for credit losses” on the consolidated balance sheets amounted to ¥64,723 million and ¥69,046 million as of March 31, 2023 and September 30, 2023, respectively. The reconciliation between the above table and the amounts reported on the consolidated financial statements during the six and three months ended September 30, 2022 and 2023, and as of March 31, 2023 and September 30, 2023 are as follows:
|  | Millions of yen |
|  | Six months ended September 30, 2022 |  |  | Three months ended September 30, 2022 |  |  | March 31, 2023 |  |  | Six months ended September 30, 2023 |  |  | Three months ended September 30, 2023 |  |  | September 30, 2023 |
|  | Provision for credit losses |  |  | Provision for credit losses |  |  | Allowance for credit losses |  |  | Provision for credit losses |  |  | Provision for credit losses |  |  | Allowance for credit losses |
Net investment in leases |  | ¥ | 582 |  |  | ¥ | 123 |  |  | ¥ | 15,719 |  |  | ¥ | 1,717 |  |  | ¥ | 942 |  |  | ¥ | 16,809 |
Installment loans |  |  | 1,730 |  |  |  | 1,351 |  |  |  | 48,171 |  |  |  | 5,760 |  |  |  | 4,396 |  |  |  | 51,269 |
Subtotal in the above table |  |  | 2,312 |  |  |  | 1,474 |  |  |  | 63,890 |  |  |  | 7,477 |  |  |  | 5,338 |  |  |  | 68,078 |
Other financial assets measured at amortized cost |  |  | 157 |  |  |  | 161 |  |  |  | 1,482 |  |  |  | 254 |  |  |  | 113 |  |  |  | 1,790 |
Total in the above table |  |  | 2,469 |  |  |  | 1,635 |  |  |  | 65,372 |  |  |  | 7,731 |  |  |  | 5,451 |  |  |  | 69,868 |
Off-balance sheet credit exposures *3(a) |  |  | (868 | ) |  |  | (225 | ) |  |  | — |  |  |  | 591 |  |  |  | 171 |  |  |  | — |
Available-for-sale debt securities *3(b) |  |  | (5 | ) |  |  | 0 |  |  |  | — |  |  |  | 292 |  |  |  | 0 |  |  |  | — |
Less: Loans to affiliates *3(c) |  |  | 78 |  |  |  | 16 |  |  |  | (649 | ) |  |  | (90 | ) |  |  | (18 | ) |  |  | (822 | )
Amount reported on the consolidated financial statements |  | ¥ | 1,674 |  |  | ¥ | 1,426 |  |  | ¥ | 64,723 |  |  | ¥ | 8,524 |  |  | ¥ | 5,604 |  |  | ¥ | 69,046 |
| *3(a) | The allowance for off-balance sheet credit exposure were ¥17,843 million and ¥18,783 million as of March 31, 2023 and September 30, 2023, respectively, and the amounts are recorded in “Other liabilities” on the consolidated balance sheets. For further information, see Note 24 “Commitments, Guarantees and Contingent Liabilities.”
| *3(b) | The allowance for available-for-sale debt securities were ¥144 million and ¥468 million as of March 31, 2023 and September 30, 2023, 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(c) | The provision for credit losses on loans to affiliates were a reversal of ¥78 million and a provision of ¥90 million during the six months ended September 30, 2022 and 2023, a reversal of ¥16 million and a provision of ¥18 million during the three months ended September 30, 2022 and 2023, 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 ¥649 million and ¥822 million as of March 31, 2023 and September 30, 2023, respectively, and the amounts are recorded as a reduction in “Investments in affiliates” on the consolidated balance sheets.
*4 | Included in Charge-off in write-offs of purchased loans were ¥2,095 million and ¥7,580 million during the six months ended September 30, 2022 and 2023, ¥2,067 million and ¥7,261 million during the three months ended September 30, 2022 and 2023, respectively.
*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 six and three months ended September 30, 2022 and 2023:
|  | Six months ended September 30, 2022 |  |  | Six months ended September 30, 2023 |
Purchase price |  | ¥ | 1,940 |  |  | ¥ | 1,281 |
Allowance for credit losses at acquisition date |  |  | 2,095 |  |  |  | 7,580 |
Discount or premium attributable to other factors |  |  | 226 |  |  |  | 125 |
Par value |  | ¥ | 4,261 |  |  | ¥ | 8,986 |
|  | Millions of yen |
|  | Three months ended September 30, 2022 |  |  | Three months ended September 30, 2023 |
Purchase price |  | ¥ | 1,537 |  |  | ¥ | 1,031 |
Allowance for credit losses at acquisition date |  |  | 2,067 |  |  |  | 7,261 |
Discount or premium attributable to other factors |  |  | 208 |  |  |  | 100 |
Par value |  | ¥ | 3,812 |  |  | ¥ | 8,392 |
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 experience;
| • |  | 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 assets as indicators that are common across all classes. The category of non-performing assets includes financing receivables for debtors who have filed for insolvency proceedings, whose bank transactions are suspended, whose bills are dishonored, whose businesses have deteriorated, whose repayment is past-due 90 days or more, financing receivables modified to debtors experiencing financial difficulty, and performing assets include all other financing receivables. Regarding purchased loans, they are classified as non-performing assets when it is probable that the acquisition cost of purchased loans cannot be collected, while all the other purchased loans are included in the category of performing assets. 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 loans and loans other than non-recourse loans. The credit quality of non-recourse loans for which cash flows from real estate are the source of repayment depends mainly on the real estate collateral value. Loans other than non-recourse loans are classified into either real estate companies or commercial, industrial and other companies, each of which are further divided into Japan and overseas. 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 experience are reflected to the estimate of the allowance for credit losses. Economic indicators correlated with prior charge-off experience are determined over the reasonable and supportable forecasted period. Economic indicators include GDP growth rates, consumer price indices, unemployment rates, and government bond interest rates. It also considers forward-looking scenarios of how the selected economic indicators will change in the future. The Company and its subsidiaries use the latest economic forecasts available from the economic reports published by governments and central banks, as well as from third-party information providers as economic indicators. 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 six months ended September 30, 2023 to methodologies and economic indicators used to estimate the allowance for Credit Losses. When non-performing financial assets with deteriorated credit quality have similar risk characteristics to other financial assets, the allowance for credit losses is collectively evaluated based on mainly loss given default. On the other hand, if the non-performing financial assets do not have similar risk characteristics to other financial assets, the allowance for credit losses is individually evaluated. 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 financing receivables if the financing receivables are collateral-dependent. The collateral-dependent financing receivables are defined as the finance receivables, which a debtor would be in financial difficulty and the collection significantly depend on the collateral. These financing receivables are mainly non-recourse loans and purchased loans for which cash flows from underlying real estate is the source of repayment. For non-recourse loans, their collection depends on the real estate collateral value, which may decline as a result of a decrease in liquidity of the real estate market, a rise in vacancy rate of rental properties, a fall in rents and other factors. 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, 2023. 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, 2023 |
Millions of yen |
Portfolio segment |  | Origination year (years ended March 31) |  |  | Total |
Class |  |  |
Credit Quality |  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2020 |  |  | 2019 |  |  | Prior |
Consumer borrowers: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | ¥ | 300,198 |  |  | ¥ | 200,041 |  |  | ¥ | 281,872 |  |  | ¥ | 360,726 |  |  | ¥ | 293,297 |  |  | ¥ | 656,584 |  |  | ¥ | 2,092,718 |
Non-Performing |  |  | 10,896 |  |  |  | 5,259 |  |  |  | 3,140 |  |  |  | 2,257 |  |  |  | 1,078 |  |  |  | 12,324 |  |  | ¥ | 34,954 |
Real estate loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  |  | 266,663 |  |  |  | 190,076 |  |  |  | 279,690 |  |  |  | 359,321 |  |  |  | 292,388 |  |  |  | 655,811 |  |  | ¥ | 2,043,949 |
Non-Performing |  |  | 17 |  |  |  | 81 |  |  |  | 378 |  |  |  | 474 |  |  |  | 239 |  |  |  | 11,821 |  |  | ¥ | 13,010 |
Other* |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  |  | 33,535 |  |  |  | 9,965 |  |  |  | 2,182 |  |  |  | 1,405 |  |  |  | 909 |  |  |  | 773 |  |  | ¥ | 48,769 |
Non-Performing |  |  | 10,879 |  |  |  | 5,178 |  |  |  | 2,762 |  |  |  | 1,783 |  |  |  | 839 |  |  |  | 503 |  |  | ¥ | 21,944 |
Corporate borrowers: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  |  | 427,902 |  |  |  | 346,629 |  |  |  | 127,984 |  |  |  | 171,314 |  |  |  | 103,628 |  |  |  | 139,503 |  |  | ¥ | 1,316,960 |
Non-Performing |  |  | 257 |  |  |  | 793 |  |  |  | 5,485 |  |  |  | 4,959 |  |  |  | 4,624 |  |  |  | 24,008 |  |  | ¥ | 40,126 |
Non-recourse loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Japan |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  |  | 65,874 |  |  |  | 17,831 |  |  |  | 6,699 |  |  |  | 22,384 |  |  |  | 4,158 |  |  |  | 7,553 |  |  | ¥ | 124,499 |
The Americas |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  |  | 2,901 |  |  |  | 706 |  |  |  | 5,217 |  |  |  | 15,153 |  |  |  | 10,595 |  |  |  | 834 |  |  | ¥ | 35,406 |
Non-Performing |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 3,248 |  |  | ¥ | 3,248 |
Other than non-recourse loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate companies in Japan |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  |  | 124,452 |  |  |  | 43,210 |  |  |  | 30,996 |  |  |  | 27,022 |  |  |  | 22,251 |  |  |  | 46,222 |  |  | ¥ | 294,153 |
Non-Performing |  |  | 0 |  |  |  | 230 |  |  |  | 0 |  |  |  | 913 |  |  |  | 9 |  |  |  | 923 |  |  | ¥ | 2,075 |
Real estate companies in overseas |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  |  | 34,508 |  |  |  | 12,639 |  |  |  | 9,091 |  |  |  | 6,998 |  |  |  | 1,627 |  |  |  | 1,165 |  |  | ¥ | 66,028 |
Non-Performing |  |  | 0 |  |  |  | 0 |  |  |  | 741 |  |  |  | 0 |  |  |  | 813 |  |  |  | 12,063 |  |  | ¥ | 13,617 |
Commercial, industrial and other companies in Japan |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  |  | 76,764 |  |  |  | 27,327 |  |  |  | 16,743 |  |  |  | 17,003 |  |  |  | 8,383 |  |  |  | 12,878 |  |  | ¥ | 159,098 |
Non-Performing |  |  | 125 |  |  |  | 80 |  |  |  | 431 |  |  |  | 264 |  |  |  | 133 |  |  |  | 399 |  |  | ¥ | 1,432 |
Commercial, industrial and other companies in overseas |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  |  | 123,403 |  |  |  | 244,916 |  |  |  | 59,238 |  |  |  | 82,754 |  |  |  | 56,614 |  |  |  | 70,851 |  |  | ¥ | 637,776 |
Non-Performing |  |  | 132 |  |  |  | 483 |  |  |  | 4,313 |  |  |  | 3,782 |  |  |  | 3,669 |  |  |  | 7,375 |  |  | ¥ | 19,754 |
Purchased loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  |  | 26 |  |  |  | 396 |  |  |  | 0 |  |  |  | 21 |  |  |  | 406 |  |  |  | 10,385 |  |  | ¥ | 11,234 |
Non-Performing |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 1,021 |  |  | ¥ | 1,021 |
Net investment in leases: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  |  | 440,421 |  |  |  | 257,871 |  |  |  | 139,306 |  |  |  | 103,726 |  |  |  | 53,604 |  |  |  | 75,794 |  |  | ¥ | 1,070,722 |
Non-Performing |  |  | 2,757 |  |  |  | 3,228 |  |  |  | 1,806 |  |  |  | 2,042 |  |  |  | 1,720 |  |  |  | 5,288 |  |  | ¥ | 16,841 |
Japan |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  |  | 193,297 |  |  |  | 136,285 |  |  |  | 99,739 |  |  |  | 80,542 |  |  |  | 44,853 |  |  |  | 72,295 |  |  | ¥ | 627,011 |
Non-Performing |  |  | 212 |  |  |  | 660 |  |  |  | 658 |  |  |  | 798 |  |  |  | 811 |  |  |  | 1,970 |  |  | ¥ | 5,109 |
Overseas |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  |  | 247,124 |  |  |  | 121,586 |  |  |  | 39,567 |  |  |  | 23,184 |  |  |  | 8,751 |  |  |  | 3,499 |  |  | ¥ | 443,711 |
Non-Performing |  |  | 2,545 |  |  |  | 2,568 |  |  |  | 1,148 |  |  |  | 1,244 |  |  |  | 909 |  |  |  | 3,318 |  |  | ¥ | 11,732 |
Other financial assets measured at amortized cost |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  |  | 3,197 |  |  |  | 0 |  |  |  | 2,089 |  |  |  | 282 |  |  |  | 0 |  |  |  | 21,301 |  |  | ¥ | 26,869 |
Non-Performing |  |  | 0 |  |  |  | 298 |  |  |  | 0 |  |  |  | 0 |  |  |  | 368 |  |  |  | 0 |  |  | ¥ | 666 |
Total (excluding revolving repayment card loans) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | ¥ | 1,171,744 |  |  | ¥ | 804,937 |  |  | ¥ | 551,251 |  |  | ¥ | 636,069 |  |  | ¥ | 450,935 |  |  | ¥ | 903,567 |  |  | ¥ | 4,518,503 |
Non-Performing |  | ¥ | 13,910 |  |  | ¥ | 9,578 |  |  | ¥ | 10,431 |  |  | ¥ | 9,258 |  |  | ¥ | 7,790 |  |  | ¥ | 42,641 |  |  | ¥ | 93,608 |
The following table provides information about the origination years of financial assets as of September 30, 2023 and the gross write-offs, corresponding to each class of financial assets by origination year, recorded during the six months ended September 30, 2023. Card loans to consumer borrowers with a revolving repayment feature that cannot be classified into the origination year are excluded from the table.
September 30, 2023 |
Millions of yen |
Portfolio segment |  | Origination year (years ended March 31) |  |  | Total |
Class |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Credit Quality |  | 2024 |  |  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2020 |  |  | Prior |
Consumer borrowers: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | ¥ | 187,132 |  |  | ¥ | 228,270 |  |  | ¥ | 186,944 |  |  | ¥ | 268,576 |  |  | ¥ | 349,046 |  |  | ¥ | 865,427 |  |  | ¥ | 2,085,395 |
Non-Performing |  |  | 6,438 |  |  |  | 9,147 |  |  |  | 4,076 |  |  |  | 2,918 |  |  |  | 1,803 |  |  |  | 13,357 |  |  | ¥ | 37,739 |
Gross write-offs |  |  | 136 |  |  |  | 1,770 |  |  |  | 736 |  |  |  | 154 |  |  |  | 103 |  |  |  | 175 |  |  | ¥ | 3,074 |
Real estate loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  |  | 167,178 |  |  |  | 201,748 |  |  |  | 179,433 |  |  |  | 267,260 |  |  |  | 348,336 |  |  |  | 864,500 |  |  | ¥ | 2,028,455 |
Non-Performing |  |  | 4 |  |  |  | 53 |  |  |  | 254 |  |  |  | 792 |  |  |  | 479 |  |  |  | 12,551 |  |  | ¥ | 14,133 |
Gross write-offs |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 144 |  |  | ¥ | 144 |
Other* |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  |  | 19,954 |  |  |  | 26,522 |  |  |  | 7,511 |  |  |  | 1,316 |  |  |  | 710 |  |  |  | 927 |  |  | ¥ | 56,940 |
Non-Performing |  |  | 6,434 |  |  |  | 9,094 |  |  |  | 3,822 |  |  |  | 2,126 |  |  |  | 1,324 |  |  |  | 806 |  |  | ¥ | 23,606 |
Gross write-offs |  |  | 136 |  |  |  | 1,770 |  |  |  | 736 |  |  |  | 154 |  |  |  | 103 |  |  |  | 31 |  |  | ¥ | 2,930 |
Corporate borrowers: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  |  | 309,556 |  |  |  | 302,774 |  |  |  | 320,807 |  |  |  | 109,252 |  |  |  | 160,645 |  |  |  | 218,685 |  |  | ¥ | 1,421,719 |
Non-Performing |  |  | 87 |  |  |  | 478 |  |  |  | 9,344 |  |  |  | 5,509 |  |  |  | 7,843 |  |  |  | 26,594 |  |  | ¥ | 49,855 |
Gross write-offs |  |  | 101 |  |  |  | 4 |  |  |  | 225 |  |  |  | 73 |  |  |  | 112 |  |  |  | 1,643 |  |  | ¥ | 2,158 |
Non-recourse loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Japan |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  |  | 25,529 |  |  |  | 30,596 |  |  |  | 11,504 |  |  |  | 6,707 |  |  |  | 22,058 |  |  |  | 7,291 |  |  | ¥ | 103,685 |
Gross write-offs |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  | ¥ | 0 |
The Americas |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  |  | 0 |  |  |  | 5,734 |  |  |  | 1,800 |  |  |  | 147 |  |  |  | 19,679 |  |  |  | 12,365 |  |  | ¥ | 39,725 |
Non-Performing |  |  | 0 |  |  |  | 69 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 3,556 |  |  | ¥ | 3,625 |
Gross write-offs |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  | ¥ | 0 |
Other than non-recourse loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate companies in Japan |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  |  | 78,728 |  |  |  | 89,599 |  |  |  | 36,194 |  |  |  | 26,002 |  |  |  | 25,098 |  |  |  | 62,824 |  |  |  | ¥318,445 |
Non-Performing |  |  | 0 |  |  |  | 3 |  |  |  | 0 |  |  |  | 0 |  |  |  | 834 |  |  |  | 873 |  |  |  | ¥1,710 |
Gross write-offs |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 4 |  |  |  | 0 |  |  |  | ¥4 |
Real estate companies in overseas |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  |  | 1,907 |  |  |  | 18,799 |  |  |  | 11,665 |  |  |  | 3,604 |  |  |  | 4,644 |  |  |  | 3,946 |  |  |  | ¥44,565 |
Non-Performing |  |  | 0 |  |  |  | 18 |  |  |  | 543 |  |  |  | 508 |  |  |  | 1,750 |  |  |  | 12,441 |  |  |  | ¥15,260 |
Gross write-offs |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | ¥0 |
Commercial, industrial and other companies in Japan |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  |  | 139,480 |  |  |  | 48,159 |  |  |  | 22,640 |  |  |  | 14,258 |  |  |  | 12,861 |  |  |  | 17,647 |  |  | ¥ | 255,045 |
Non-Performing |  |  | 0 |  |  |  | 121 |  |  |  | 76 |  |  |  | 208 |  |  |  | 196 |  |  |  | 448 |  |  | ¥ | 1,049 |
Gross write-offs |  |  | 0 |  |  |  | 1 |  |  |  | 0 |  |  |  | 0 |  |  |  | 22 |  |  |  | 0 |  |  | ¥ | 23 |
Commercial, industrial and other companies in overseas |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  |  | 63,912 |  |  |  | 109,887 |  |  |  | 237,004 |  |  |  | 58,534 |  |  |  | 76,305 |  |  |  | 114,612 |  |  | ¥ | 660,254 |
Non-Performing |  |  | 87 |  |  |  | 267 |  |  |  | 8,725 |  |  |  | 4,793 |  |  |  | 5,063 |  |  |  | 9,276 |  |  | ¥ | 28,211 |
Gross write-offs |  |  | 101 |  |  |  | 3 |  |  |  | 225 |  |  |  | 73 |  |  |  | 86 |  |  |  | 1,643 |  |  | ¥ | 2,131 |
Purchased loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  |  | 0 |  |  |  | 27 |  |  |  | 596 |  |  |  | 199 |  |  |  | 69 |  |  |  | 9,390 |  |  | ¥ | 10,281 |
Non-Performing |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 12 |  |  |  | 1,109 |  |  | ¥ | 1,121 |
Gross write-offs |  |  | 0 |  |  |  | 409 |  |  |  | 226 |  |  |  | 29 |  |  |  | 206 |  |  |  | 6,742 |  |  | ¥ | 7,612 |
Net investment in leases: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  |  | 282,112 |  |  |  | 372,170 |  |  |  | 207,953 |  |  |  | 108,800 |  |  |  | 78,472 |  |  |  | 95,566 |  |  | ¥ | 1,145,073 |
Non-Performing |  |  | 3,028 |  |  |  | 4,475 |  |  |  | 3,346 |  |  |  | 1,676 |  |  |  | 1,745 |  |  |  | 6,446 |  |  | ¥ | 20,716 |
Gross write-offs |  |  | 0 |  |  |  | 7 |  |  |  | 409 |  |  |  | 234 |  |  |  | 139 |  |  |  | 445 |  |  | ¥ | 1,234 |
Japan |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  |  | 115,467 |  |  |  | 165,315 |  |  |  | 118,882 |  |  |  | 83,911 |  |  |  | 62,476 |  |  |  | 88,499 |  |  | ¥ | 634,550 |
Non-Performing |  |  | 24 |  |  |  | 380 |  |  |  | 764 |  |  |  | 720 |  |  |  | 742 |  |  |  | 2,253 |  |  | ¥ | 4,883 |
Gross write-offs |  |  | 0 |  |  |  | 5 |  |  |  | 36 |  |  |  | 52 |  |  |  | 80 |  |  |  | 327 |  |  | ¥ | 500 |
Overseas |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  |  | 166,645 |  |  |  | 206,855 |  |  |  | 89,071 |  |  |  | 24,889 |  |  |  | 15,996 |  |  |  | 7,067 |  |  | ¥ | 510,523 |
Non-Performing |  |  | 3,004 |  |  |  | 4,095 |  |  |  | 2,582 |  |  |  | 956 |  |  |  | 1,003 |  |  |  | 4,193 |  |  | ¥ | 15,833 |
Gross write-offs |  |  | 0 |  |  |  | 2 |  |  |  | 373 |  |  |  | 182 |  |  |  | 59 |  |  |  | 118 |  |  | ¥ | 734 |
Other financial assets measured at amortized cost |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  |  | 3,341 |  |  |  | 3,185 |  |  |  | 0 |  |  |  | 1,862 |  |  |  | 288 |  |  |  | 19,912 |  |  | ¥ | 28,588 |
Non-Performing |  |  | 0 |  |  |  | 0 |  |  |  | 332 |  |  |  | 0 |  |  |  | 0 |  |  |  | 1,410 |  |  | ¥ | 1,742 |
Gross write-offs |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  | ¥ | 0 |
Total (excluding revolving repayment card loans) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | ¥ | 782,141 |  |  | ¥ | 906,426 |  |  | ¥ | 716,300 |  |  | ¥ | 488,689 |  |  | ¥ | 588,520 |  |  | ¥ | 1,208,980 |  |  | ¥ | 4,691,056 |
Non-Performing |  |  | 9,553 |  |  |  | 14,100 |  |  |  | 17,098 |  |  |  | 10,103 |  |  |  | 11,403 |  |  |  | 48,916 |  |  | ¥ | 111,173 |
Gross write-offs |  |  | 237 |  |  |  | 2,190 |  |  |  | 1,596 |  |  |  | 490 |  |  |  | 560 |  |  |  | 9,005 |  |  | ¥ | 14,078 |
Note: Loans held for sale, policy loan receivables of an insurance entity and financing receivables, such as accounts receivable 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 24 “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, 2023 is as follows:
|  | March 31, 2023 |
|  | Millions of yen |
Portfolio segment |  | Revolving repayment card loans |  |  | Modification of collection condition by relief of contract condition |  |  | Total—revolving repayment card loans |  |  | Total— origination year (excluding revolving repayment card loans) |  |  | Total— financial assets measured at amortized cost |
Credit quality |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consumer borrowers: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | ¥ | 166,392 |  |  | ¥ | 0 |  |  | ¥ | 166,392 |  |  | ¥ | 4,518,503 |  |  | ¥ | 4,684,895 |
Non-Performing |  |  | 1,588 |  |  |  | 3,655 |  |  |  | 5,243 |  |  |  | 93,608 |  |  | ¥ | 98,851 |
The information about card loans to consumer borrowers with a revolving repayment feature that cannot be classified into the origination year as of September 30, 2023 and the gross write-offs, corresponding to card loans, recorded during the six months ended September 30, 2023 is as follows: |
|  | September 30, 2023 |
|  | Millions of yen |
Portfolio segment |  | Revolving repayment card loans |  |  | Modification of collection condition by relief of contract condition |  |  | Total—revolving repayment card loans |  |  | Total— origination year (excluding revolving repayment card loans) |  |  | Total— financial assets measured at amortized cost |
Credit quality |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consumer borrowers: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | ¥ | 167,209 |  |  | ¥ | 0 |  |  | ¥ | 167,209 |  |  | ¥ | 4,691,056 |  |  | ¥ | 4,858,265 |
Non-Performing |  |  | 2,076 |  |  |  | 3,857 |  |  |  | 5,933 |  |  |  | 111,173 |  |  | ¥ | 117,106 |
Gross write-offs |  |  | 375 |  |  |  | 75 |  |  |  | 450 |  |  |  | 14,078 |  |  | ¥ | 14,528 |
Of non-performing assets, the Company and its subsidiaries consider smaller balance homogeneous loans (including real estate loans and card loans, among others, which are not restructured) and net investment in leases as the 90 days or more past-due financing receivables not individually evaluated, and consider all others as the loans individually evaluated. After the Company and its subsidiaries have set aside a provision for those non-performing assets, the Company and its subsidiaries continue to monitor at least on a quarterly basis the quality of any underlying collateral, the business conditions of the debtors and other important factors in order to report to management and develop additional provision for credit losses as necessary. The following table provides information about the past-due financial assets as of March 31, 2023 and September 30, 2023:
|  | March 31, 2023 |
|  |  |  | Millions of yen |
|  |  |  | Past-due financial assets |  |  |  |
Portfolio segment |  | Class |  | 30-89 days past-due |  |  | 90 days or more past-due |  |  | Total past-due |  |  | Total financing receivables |
Consumer borrowers |  |  |  | ¥ | 4,574 |  |  | ¥ | 10,047 |  |  | ¥ | 14,621 |  |  | ¥ | 2,299,307 |
|  | Real estate loans |  |  | 1,739 |  |  |  | 2,181 |  |  |  | 3,920 |  |  |  | 2,056,959 |
|  | Card loans |  |  | 514 |  |  |  | 1,364 |  |  |  | 1,878 |  |  |  | 171,635 |
|  | Other |  |  | 2,321 |  |  |  | 6,502 |  |  |  | 8,823 |  |  |  | 70,713 |
Corporate borrowers |  |  |  |  | 5,628 |  |  |  | 21,363 |  |  |  | 26,991 |  |  |  | 1,357,086 |
Non-recourse loans |  | Japan |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 124,499 |
|  | The Americas |  |  | 0 |  |  |  | 1,494 |  |  |  | 1,494 |  |  |  | 38,654 |
Other than Non-recourse loans |  | Real estate companies in Japan |  |  | 159 |  |  |  | 219 |  |  |  | 378 |  |  |  | 296,228 |
|  | Real estate companies in overseas |  |  | 1,412 |  |  |  | 13,618 |  |  |  | 15,030 |  |  |  | 79,645 |
|  | Commercial, industrial and other companies in Japan |  |  | 1,366 |  |  |  | 1,118 |  |  |  | 2,484 |  |  |  | 160,530 |
|  | Commercial, industrial and other companies in overseas |  |  | 2,691 |  |  |  | 4,914 |  |  |  | 7,605 |  |  |  | 657,530 |
Net investment in leases |  |  |  |  | 9,181 |  |  |  | 15,583 |  |  |  | 24,764 |  |  |  | 1,087,563 |
|  | Japan |  |  | 2,648 |  |  |  | 4,431 |  |  |  | 7,079 |  |  |  | 632,120 |
|  | Overseas |  |  | 6,533 |  |  |  | 11,152 |  |  |  | 17,685 |  |  |  | 455,443 |
Total |  |  |  | ¥ | 19,383 |  |  | ¥ | 46,993 |  |  | ¥ | 66,376 |  |  | ¥ | 4,743,956 |
|  | September 30, 2023 |
|  |  |  | Millions of yen |
|  |  |  | Past-due financial assets |  |  |  |
Portfolio segment |  | Class |  | 30-89 days past-due |  |  | 90 days or more past-due |  |  | Total past-due |  |  | Total financing receivables |
Consumer borrowers |  |  |  | ¥ | 5,350 |  |  | ¥ | 12,875 |  |  | ¥ | 18,225 |  |  | ¥ | 2,296,276 |
|  | Real estate loans |  |  | 1,433 |  |  |  | 2,772 |  |  |  | 4,205 |  |  |  | 2,042,588 |
|  | Card loans |  |  | 557 |  |  |  | 1,938 |  |  |  | 2,495 |  |  |  | 173,142 |
|  | Other |  |  | 3,360 |  |  |  | 8,165 |  |  |  | 11,525 |  |  |  | 80,546 |
Corporate borrowers |  |  |  |  | 6,183 |  |  |  | 30,419 |  |  |  | 36,602 |  |  |  | 1,471,574 |
Non-recourse loans |  | Japan |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 103,685 |
|  | The Americas |  |  | 0 |  |  |  | 1,661 |  |  |  | 1,661 |  |  |  | 43,350 |
Other than Non-recourse loans |  | Real estate companies in Japan |  |  | 235 |  |  |  | 206 |  |  |  | 441 |  |  |  | 320,155 |
|  | Real estate companies in overseas |  |  | 1,000 |  |  |  | 15,260 |  |  |  | 16,260 |  |  |  | 59,825 |
|  | Commercial, industrial and other companies in Japan |  |  | 1,748 |  |  |  | 822 |  |  |  | 2,570 |  |  |  | 256,094 |
|  | Commercial, industrial and other companies in overseas |  |  | 3,200 |  |  |  | 12,470 |  |  |  | 15,670 |  |  |  | 688,465 |
Net investment in leases |  |  |  |  | 14,961 |  |  |  | 19,742 |  |  |  | 34,703 |  |  |  | 1,165,789 |
|  | Japan |  |  | 2,967 |  |  |  | 4,385 |  |  |  | 7,352 |  |  |  | 639,433 |
|  | Overseas |  |  | 11,994 |  |  |  | 15,357 |  |  |  | 27,351 |  |  |  | 526,356 |
Total |  |  |  | ¥ | 26,494 |  |  | ¥ | 63,036 |  |  | ¥ | 89,530 |  |  | ¥ | 4,933,639 |
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 financial assets when principal or interest is past-due 30 days or more. Loans whose terms have been modified are not classified as past-due financial assets if the principals and interests are not past-due 30 days or more in accordance with the modified terms. The following table provides information about non-accrual of financial assets as of March 31, 2023 and September 30, 2023:
|  |  |  | March 31, 2023 |
|  |  |  | Millions of yen |
|  |  |  | Beginning balance |  |  | Ending balance |  |  | Interest income recognized during the reporting period |  |  | Balance not associated allowance for credit losses among financial assets measured at amortized cost, which is suspending recognition of income |
Non-accrual of financial assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Installment loans to consumer borrowers: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Japan |  | ¥ | 1,824 |  |  | ¥ | 1,693 |  |  | ¥ | 235 |  |  | ¥ | 41 |
|  | Overseas |  |  | 475 |  |  |  | 547 |  |  |  | 0 |  |  |  | 0 |
Card loans |  | Japan |  |  | 503 |  |  |  | 1,367 |  |  |  | 28 |  |  |  | 0 |
Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Japan |  |  | 2,391 |  |  |  | 5,429 |  |  |  | 170 |  |  |  | 10 |
|  | Overseas |  |  | 519 |  |  |  | 1,105 |  |  |  | 0 |  |  |  | 0 |
Installment loans to corporate borrowers: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-recourse loans |  | The Americas |  |  | 8,787 |  |  |  | 3,248 |  |  |  | 0 |  |  |  | 0 |
Real estate companies |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Japan |  |  | 351 |  |  |  | 219 |  |  |  | 51 |  |  |  | 13 |
|  | Overseas |  |  | 20,879 |  |  |  | 12,804 |  |  |  | 0 |  |  |  | 0 |
Commercial, industrial companies and other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Japan |  |  | 1,267 |  |  |  | 1,118 |  |  |  | 71 |  |  |  | 190 |
|  | Overseas |  |  | 18,634 |  |  |  | 20,470 |  |  |  | 0 |  |  |  | 2,113 |
Net investment in leases |  |  | 17,771 |  |  |  | 16,627 |  |  |  | 0 |  |  |  | 0 |
Total |  |  |  | ¥ | 73,401 |  |  | ¥ | 64,627 |  |  | ¥ | 555 |  |  | ¥ | 2,367 |
|  |  |  | September 30, 2023 |
|  |  |  | Millions of yen |
|  |  |  | Beginning balance |  |  | Ending balance |  |  | Interest income recognized during the reporting period |  |  | Balance not associated allowance for credit losses among financial assets measured at amortized cost, which is suspending recognition of income |
Non-accrual of financial assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Installment loans to consumer borrowers: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Japan |  | ¥ | 1,693 |  |  | ¥ | 1,899 |  |  | ¥ | 126 |  |  | ¥ | 194 |
|  | Overseas |  |  | 547 |  |  |  | 941 |  |  |  | 0 |  |  |  | 7 |
Card loans |  | Japan |  |  | 1,367 |  |  |  | 1,938 |  |  |  | 16 |  |  |  | 0 |
Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Japan |  |  | 5,429 |  |  |  | 6,746 |  |  |  | 101 |  |  |  | 8 |
|  | Overseas |  |  | 1,105 |  |  |  | 1,423 |  |  |  | 0 |  |  |  | 4 |
Installment loans to corporate borrowers: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-recourse loans |  | The Americas |  |  | 3,248 |  |  |  | 3,556 |  |  |  | 0 |  |  |  | 0 |
Real estate companies |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Japan |  |  | 219 |  |  |  | 206 |  |  |  | 23 |  |  |  | 8 |
|  | Overseas |  |  | 12,804 |  |  |  | 21,927 |  |  |  | 0 |  |  |  | 0 |
Commercial, industrial companies and other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Japan |  |  | 1,118 |  |  |  | 822 |  |  |  | 18 |  |  |  | 158 |
|  | Overseas |  |  | 20,470 |  |  |  | 27,936 |  |  |  | 0 |  |  |  | 2,368 |
Net investment in leases |  |  | 16,627 |  |  |  | 20,879 |  |  |  | 0 |  |  |  | 0 |
Total |  |  |  | ¥ | 64,627 |  |  | ¥ | 88,273 |  |  | ¥ | 284 |  |  | ¥ | 2,747 |
The Company and its subsidiaries suspend accruing interest on past-due installment loans and net investment in leases when principal or interest is past-due 90 days or more, or earlier, if management determines that their collections are doubtful based on factors such as individual debtors’ creditworthiness, historical loss experience, current delinquencies and delinquency trends. Cash repayments received on non-accrual loans are applied first against past due interest and then any surpluses are applied to principal in view of the conditions of the contract and obligors. The Company and its subsidiaries return to accrual status non-accrual loans and net investment in leases when it becomes probable that the Company and its subsidiaries will be able to collect all amounts due according to the contractual terms of these loans and lease receivables, as evidenced by continual payments from the debtors. The period of such continual payments before returning to accrual status varies depending on factors that are considered relevant in assessing the debtor’s creditworthiness, such as the debtor’s business characteristics and financial conditions as well as relevant economic conditions and trends. The following table provides information about troubled debt restructurings of financing receivables that occurred during the six and three months ended September 30, 2022:
Six months ended September 30, 2022 |
|  |  |  | Millions of yen |
Portfolio segment |  | Class |  | Pre-modification outstanding recorded investment |  |  | Post-modification outstanding recorded investment |
Consumer borrowers |  |  |  | ¥ | 3,979 |  |  | ¥ | 3,175 |
|  | Real estate loans |  |  | 5 |  |  |  | 3 |
|  | Card loans |  |  | 713 |  |  |  | 619 |
|  | Other |  |  | 3,261 |  |  |  | 2,553 |
Corporate borrowers |  |  |  |  | 8,213 |  |  |  | 8,212 |
Other than Non-recourse loans |  | Commercial, industrial and other companies in overseas |  |  | 8,213 |  |  |  | 8,212 |
Total |  |  |  | ¥ | 12,192 |  |  | ¥ | 11,387 |
Three months ended September 30, 2022 |
|  |  |  | Millions of yen |
Portfolio segment |  | Class |  | Pre-modification outstanding recorded investment |  |  | Post-modification outstanding recorded investment |
Consumer borrowers |  |  |  | ¥ | 1,938 |  |  | ¥ | 1,527 |
|  | Real estate loans |  |  | 5 |  |  |  | 3 |
|  | Card loans |  |  | 332 |  |  |  | 284 |
|  | Other |  |  | 1,601 |  |  |  | 1,240 |
Corporate borrowers |  |  |  |  | 2,582 |  |  |  | 2,582 |
Other than Non-recourse loans |  | Commercial, industrial and other companies in overseas |  |  | 2,582 |  |  |  | 2,582 |
Total |  |  |  | ¥ | 4,520 |  |  | ¥ | 4,109 |
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 loans, the Company and its subsidiaries also offer concessions such as a reduction of the loan principal or a temporary reduction in the interest payments. Furthermore, the Company and its subsidiaries may acquire collateral assets from the debtors in troubled debt restructurings to satisfy fully or partially the loan principal or past due interest. 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 six months ended September 30, 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 payment deferrals, which are determined not to meet the definition of a troubled debt restructuring are not included in the troubled debt restructuring stated the above. The following table provides information about financing receivables modified as troubled debt restructurings within the previous 12 months from September 30, 2022 and for which there was a payment default during the six and three months ended September 30, 2022:
Six months ended September 30, 2022 |
|  |  |  | Millions of yen |
Portfolio segment |  | Class |  | Recorded investment |
Consumer borrowers |  |  |  | ¥ | 395 |
|  | Card loans |  |  | 7 |
|  | Other |  |  | 388 |
Corporate borrowers |  |  |  |  | 1,671 |
Other than Non-recourse loans |  | Commercial, industrial and other companies in overseas |  |  | 1,671 |
Total |  |  |  | ¥ | 2,066 |
Three months ended September 30, 2022 |
|  |  |  | Millions of yen |
Portfolio segment |  | Class |  | Recorded investment |
Consumer borrowers |  |  |  | ¥ | 208 |
|  | Card loans |  |  | 3 |
|  | Other |  |  | 205 |
Corporate borrowers |  |  |  |  | 1,671 |
Other than Non-recourse loans |  | Commercial, industrial and other companies in overseas |  |  | 1,671 |
Total |  |  |  | ¥ | 1,879 |
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 90 days or more in accordance with the modified terms. 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. The following table provides information about modifications of financing receivables made to debtors experiencing financial difficulty that occurred during the six and three months ended September 30, 2023:
Six months ended September 30, 2023 |
Millions of yen |
Portfolio segment |  | Interest rate reduction |  |  | Term extension |  |  | Principal forgiveness |
Class |  | Amortized cost basis |  |  | % of total class of financing receivable |  |  | Amortized cost basis |  |  | % of total class of financing receivable |  |  | Amortized cost basis |  |  | % of total class of financing receivable |
Consumer borrowers |  | ¥ | 245 |  |  |  | 0.0 |  |  | ¥ | 2,354 |  |  |  | 0.1 |  |  | ¥ | 45 |  |  |  | 0.0 |
Real estate loans |  |  | 3 |  |  |  | 0.0 |  |  |  | 1 |  |  |  | 0.0 |  |  |  | 1 |  |  |  | 0.0 |
Card loans |  |  | 222 |  |  |  | 0.1 |  |  |  | 1 |  |  |  | 0.0 |  |  |  | 41 |  |  |  | 0.0 |
Other |  |  | 20 |  |  |  | 0.0 |  |  |  | 2,352 |  |  |  | 2.9 |  |  |  | 3 |  |  |  | 0.0 |
Corporate borrowers |  |  | 0 |  |  |  | 0 |  |  |  | 862 |  |  |  | 0.1 |  |  |  | 58 |  |  |  | 0.0 |
Other than Non-recourse loans |  |  | 0 |  |  |  | 0 |  |  |  | 862 |  |  |  | 0.1 |  |  |  | 58 |  |  |  | 0.0 |
Real estate companies in Japan |  |  | 0 |  |  |  | 0 |  |  |  | 35 |  |  |  | 0.0 |  |  |  | 0 |  |  |  | 0 |
Commercial, industrial and other companies in Japan |  |  | 0 |  |  |  | 0 |  |  |  | 542 |  |  |  | 0.2 |  |  |  | 0 |  |  |  | 0 |
Commercial, industrial and other companies in overseas |  |  | 0 |  |  |  | 0 |  |  |  | 285 |  |  |  | 0.0 |  |  |  | 58 |  |  |  | 0.0 |
Net investment in leases |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0.0 |
Overseas |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0.0 |
Total |  | ¥ | 245 |  |  |  | 0.0 |  |  | ¥ | 3,216 |  |  |  | 0.1 |  |  | ¥ | 103 |  |  |  | 0.0 |
Six months ended September 30, 2023 |
Millions of yen |
Portfolio segment |  | Combination - interest rate reduction and term extension |  |  | Combination - interest rate reduction and principal forgiveness |  |  | Combination - term extension and principal forgiveness |
Class |  |  | Amortized cost basis |  |  |  | % of total class of financing receivable |  |  |  | Amortized cost basis |  |  |  | % of total class of financing receivable |  |  |  | Amortized cost basis |  |  |  | % of total class of financing receivable |
Consumer borrowers |  | ¥ | 14 |  |  |  | 0.0 |  |  | ¥ | 583 |  |  |  | 0.0 |  |  | ¥ | 264 |  |  |  | 0.0 |
Real estate loans |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |
Card loans |  |  | 0 |  |  |  | 0 |  |  |  | 563 |  |  |  | 0.3 |  |  |  | 0 |  |  |  | 0 |
Other |  |  | 14 |  |  |  | 0.0 |  |  |  | 20 |  |  |  | 0.0 |  |  |  | 264 |  |  |  | 0.3 |
Corporate borrowers |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |
Other than Non-recourse loans |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |
Real estate companies in Japan |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |
Commercial, industrial and other companies in Japan |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |
Commercial, industrial and other companies in overseas |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |
Net investment in leases |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |
Overseas |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |
Total |  | ¥ | 14 |  |  |  | 0.0 |  |  | ¥ | 583 |  |  |  | 0.0 |  |  | ¥ | 264 |  |  |  | 0.0 |
Three months ended September 30, 2023 |
Millions of yen |
Portfolio segment |  | Interest rate reduction |  |  | Term extension |  |  | Principal forgiveness |
Class |  |  | Amortized cost basis |  |  |  | % of total class of financing receivable |  |  |  | Amortized cost basis |  |  |  | % of total class of financing receivable |  |  |  | Amortized cost basis |  |  |  | % of total class of financing receivable |
Consumer borrowers |  | ¥ | 182 |  |  |  | 0.0 |  |  | ¥ | 1,236 |  |  |  | 0.1 |  |  | ¥ | 16 |  |  |  | 0.0 |
Real estate loans |  |  | 0 |  |  |  | 0 |  |  |  | 1 |  |  |  | 0.0 |  |  |  | 1 |  |  |  | 0.0 |
Card loans |  |  | 164 |  |  |  | 0.1 |  |  |  | 1 |  |  |  | 0.0 |  |  |  | 15 |  |  |  | 0.0 |
Other |  |  | 18 |  |  |  | 0.0 |  |  |  | 1,234 |  |  |  | 1.5 |  |  |  | 0 |  |  |  | 0 |
Corporate borrowers |  |  | 0 |  |  |  | 0 |  |  |  | 712 |  |  |  | 0.0 |  |  |  | 5 |  |  |  | 0.0 |
Other than Non-recourse loans |  |  | 0 |  |  |  | 0 |  |  |  | 712 |  |  |  | 0.1 |  |  |  | 5 |  |  |  | 0.0 |
Real estate companies in Japan |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |
Commercial, industrial and other companies in Japan |  |  | 0 |  |  |  | 0 |  |  |  | 427 |  |  |  | 0.2 |  |  |  | 0 |  |  |  | 0 |
Commercial, industrial and other companies in overseas |  |  | 0 |  |  |  | 0 |  |  |  | 285 |  |  |  | 0.0 |  |  |  | 5 |  |  |  | 0.0 |
Net investment in leases |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0.0 |
Overseas |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0.0 |
Total |  | ¥ | 182 |  |  |  | 0.0 |  |  | ¥ | 1,948 |  |  |  | 0.0 |  |  | ¥ | 21 |  |  |  | 0.0 |
Three months ended September 30, 2023 |
Millions of yen |
Portfolio segment |  | Combination - interest rate reduction and term extension |  |  | Combination - interest rate reduction and principal forgiveness |  |  | Combination - term extension and principal forgiveness |
Class |  |  | Amortized cost basis |  |  |  | % of total class of financing receivable |  |  |  | Amortized cost basis |  |  |  | % of total class of financing receivable |  |  |  | Amortized cost basis |  |  |  | % of total class of financing receivable |
Consumer borrowers |  | ¥ | 5 |  |  |  | 0.0 |  |  | ¥ | 247 |  |  |  | 0.0 |  |  | ¥ | 112 |  |  |  | 0.0 |
Real estate loans |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |
Card loans |  |  | 0 |  |  |  | 0 |  |  |  | 239 |  |  |  | 0.1 |  |  |  | 0 |  |  |  | 0 |
Other |  |  | 5 |  |  |  | 0.0 |  |  |  | 8 |  |  |  | 0.0 |  |  |  | 112 |  |  |  | 0.1 |
Corporate borrowers |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |
Other than Non-recourse loans |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |
Real estate companies in Japan |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |
Commercial, industrial and other companies in Japan |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |
Commercial, industrial and other companies in overseas |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |
Net investment in leases |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |
Overseas |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |
Total |  | ¥ | 5 |  |  |  | 0.0 |  |  | ¥ | 247 |  |  |  | 0.0 |  |  | ¥ | 112 |  |  |  | 0.0 |
The Company and its subsidiaries offer various types of concessions to the debtors to protect as much of the investment as possible in modifications of financing receivables made to debtors experiencing financial difficulty. For the debtors of all financing receivables, the Company and its subsidiaries offer concessions including an interest rate reduction and a term extension. In addition, for the debtors of all financing receivables other than non-recourse loans, the Company and its subsidiaries also offer concessions such as a principal forgiveness or a temporary reduction in the interest payments. Furthermore, the Company and its subsidiaries may acquire collateral assets from the debtors in modifications of financing receivables made to debtors experiencing financial difficulty to satisfy fully or partially the loan principal or past due interest. In common with all portfolio segments, financing receivables modified to debtors experiencing financial difficulty are recognized as impaired and are individually evaluated for allowance for credit losses, taking into account payment default and repayment status after modifications. In most cases, these financing receivables have already been considered impaired and individually evaluated for allowance for credit losses prior to the modifications. However, as a result of the modification, the Company and its subsidiaries may recognize additional allowance for credit losses for the modified receivables. The following table provides information about the financial effect of the modifications of financing receivables made to debtors experiencing financial difficulty that occurred during the six and three months ended September 30, 2023:
Six months ended September 30, 2023
Millions of yen
Portfolio segment |  | Financial effect
Class |  | Interest rate reduction |  | Term extension |  | Principal forgiveness
Consumer borrowers |  |  |  |  |  |
Real estate loans |  | Reduced weighted-average contractual interest rate from 3.9% to 0.0%. |  | Added a weighted-average 1.0 years to the life of loans. |  | Reduced the amortized cost basis of the loans by ¥1 million.
Card loans |  | Reduced weighted-average contractual interest rate from 12.6% to 0.4%. |  | Added a weighted-average 6.6 years to the life of loans. |  | Reduced the amortized cost basis of the loans by ¥92 million.
Other |  | Reduced weighted-average contractual interest rate from 14.2% to 2.5%. |  | Added a weighted-average 4.8 years to the life of loans. |  | Reduced the amortized cost basis of the loans by ¥336 million.
Corporate borrowers |  |  |  |  |  |
Other than Non-recourse loans |  | — |  | — |  | —
Real estate companies in Japan |  | — |  | Added a weighted-average 0.5 years to the life of loans. |  | —
Commercial, industrial and other companies in Japan |  | — |  | Added a weighted-average 0.6 years to the life of loans. |  | —
Commercial, industrial and other companies in overseas |  | — |  | Added a weighted-average 4.7 years to the life of loans. |  | Reduced the amortized cost basis of the loans by ¥108 million.
Net investment in leases |  |  |  |  |  |
Overseas |  | — |  | — |  | Reduced the amortized cost basis of the loans by ¥0 million.
Three months ended September 30, 2023
Millions of yen
Portfolio segment |  | Financial effect
Class |  | Interest rate reduction |  | Term extension |  | Principal forgiveness
Consumer borrowers |  |  |  |  |  |
Real estate loans |  | — |  | Added a weighted-average 1.0 years to the life of loans. |  | Reduced the amortized cost basis of the loans by ¥0 million.
Card loans |  | Reduced weighted-average contractual interest rate from 12.7% to 0.4%. |  | Added a weighted-average 6.6 years to the life of loans. |  | Reduced the amortized cost basis of the loans by ¥40 million.
Other |  | Reduced weighted-average contractual interest rate from 12.4% to 1.8%. |  | Added a weighted-average 4.9 years to the life of loans. |  | Reduced the amortized cost basis of the loans by ¥177 million.
Corporate borrowers |  | — |  | — |  | —
Other than Non-recourse loans |  | — |  | — |  | —
Real estate companies in Japan |  | — |  | — |  | —
Commercial, industrial and other companies in Japan |  | — |  | Added a weighted-average 0.5 years to the life of loans. |  | —
Commercial, industrial and other companies in overseas |  | — |  | Added a weighted-average 4.7 years to the life of loans. |  | Reduced the amortized cost basis of the loans by ¥3 million.
Net investment in leases |  |  |  |  |  |
Overseas |  | — |  | — |  | Reduced the amortized cost basis of the loans by ¥0 million.
During the six and three months ended September 30, 2023, 2023 there was no financing receivable that had a payment default and had been modified, when the debtor was experiencing financial difficulty, within the previous 12 months preceding the payment default date. The Company and its subsidiaries consider financing receivables whose terms have been modified to debtors experiencing financial difficulty as defaulted receivables when principal or interest is past-due 90 days or more in accordance with the modified terms. The following table provides information about the past-due financial assets modified to debtors experiencing financial difficulty within the previous 12 months from September 30, 2023:
September 30, 2023 |
|  | Millions of yen |
Portfolio segment |  | Current |  |  | 30-89 days past-due |  |  | 90 days or more past-due |
Class
Consumer borrowers |  |  | ¥ 3,471 |  |  |  | ¥ 34 |  |  | ¥ | 0 |
Real estate loans |  |  | 5 |  |  |  | 0 |  |  |  | 0 |
Card loans |  |  | 823 |  |  |  | 4 |  |  |  | 0 |
Other |  |  | 2,643 |  |  |  | 30 |  |  |  | 0 |
Corporate borrowers |  |  | 613 |  |  |  | 0 |  |  |  | 307 |
Other than Non-recourse loans |  |  | 613 |  |  |  | 0 |  |  |  | 307 |
Real estate companies in Japan |  |  | 0 |  |  |  | 0 |  |  |  | 35 |
Commercial, industrial and other companies in Japan |  |  | 285 |  |  |  | 0 |  |  |  | 257 |
Commercial, industrial and other companies in overseas |  |  | 328 |  |  |  | 0 |  |  |  | 15 |
Net investment in leases |  |  | 0 |  |  |  | 0 |  |  |  | 0 |
Overseas |  |  | 0 |  |  |  | 0 |  |  |  | 0 |
Total |  | ¥ | 4,084 |  |  | ¥ | 34 |  |  | ¥ | 307 |
As of March 31, 2023 and September 30, 2023, there were no foreclosed residential real estate properties. The carrying amounts of installment loans in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure were ¥57 million and ¥59 million as of March 31, 2023 and September 30, 2023, respectively.

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