XML 47 R41.htm IDEA: XBRL DOCUMENT
v3.23.3

Investment in Securities (Tables) | 6 Months Ended
--- | ---
Sep. 30, 2023
Investments Schedule [Abstract] |
Summary of Investment in Securities | Investment in securities as of March 31, 2023 and September 30, 2023 consists of the following:
|  | Millions of yen |
|  | March 31, 2023 |  |  | September 30, 2023 |
Equity securities * |  | ¥ | 589,312 |  |  | ¥ | 751,872 |
Trading debt securities |  |  | 2,179 |  |  |  | 2,259 |
Available-for-sale debt securities |  |  | 2,234,608 |  |  |  | 2,318,317 |
Held-to-maturity debt securities |  |  | 114,759 |  |  |  | 115,515 |
Total |  | ¥ | 2,940,858 |  |  | ¥ | 3,187,963 |
* | The amount of assets under management of variable annuity and variable life insurance contracts included in equity securities were ¥151,445 million and ¥151,281 million as of March 31, 2023 and September 30, 2023, respectively. The amount of investment funds that are accounted for under the equity method included in equity securities were ¥90,993 million and ¥196,899 million as of March 31, 2023 and September 30, 2023, respectively. The amount of investment funds elected the fair value option included in equity securities were ¥16,032 million and ¥19,401 million as of March 31, 2023 and September 30, 2023, respectively.
Summary of Impairment and Downward or Upward Adjustment Due to Changes of Observable Price | The following tables provide information about impairment and upward or downward adjustments resulting from observable price changes as of March 31, 2023 and September 30, 2023, and for the six and three months ended September 30, 2022 and 2023.
|  | Millions of yen |
|  | March 31, 2023 |  |  | Six months ended September 30, 2022 |  |  | Three months ended September 30, 2022 |
|  | Carrying value |  |  | Accumulated impairments and downward adjustments |  |  | Accumulated upward adjustments |  |  | Impairments and downward adjustments |  |  | Upward adjustments |  |  | Impairments and downward adjustments |  |  | Upward adjustments |
Equity securities measured using the measurement alternative |  | ¥ | 67,820 |  |  | ¥ | (14,062 | ) |  | ¥ | 1,742 |  |  | ¥ | (368 | ) |  | ¥ | 896 |  |  | ¥ | (278 | ) |  | ¥ | 27 |
|  | Millions of yen |
|  | September 30, 2023 |  |  | Six months ended September 30, 2023 |  |  | Three months ended September 30, 2023 |
|  | Carrying value |  |  | Accumulated impairments and downward adjustments |  |  | Accumulated upward adjustments |  |  | Impairments and downward adjustments |  |  | Upward adjustments |  |  | Impairments and downward adjustments |  |  | Upward adjustments |
Equity securities measured using the measurement alternative |  | ¥ | 76,756 |  |  | ¥ | (14,126 | ) |  | ¥ | 1,947 |  |  | ¥ | (90 | ) |  | ¥ | 956 |  |  | ¥ | (3 | ) |  | ¥ | 832 |
Amortized Cost Basis Amounts, Gross Unrealized Holding Gains, Gross Unrealized Holding Losses and Fair Values of Available-for-Sale Securities and Held-to-Maturity Securities in Each Major Security Type | The amortized cost basis amounts, gross unrealized holding gains, gross unrealized holding losses and fair values of available-for-sale debt securities and held-to-maturity debt securities in each major security type as of March 31, 2023 and September 30, 2023 are as follows: March 31, 2023
|  | Millions of yen |
|  | Amortized cost |  |  | Allowance for credit losses |  |  | Gross unrealized gains |  |  | Gross unrealized losses |  |  | Fair value |
Available-for-sale debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Japanese and foreign government bond securities |  | ¥ | 962,969 |  |  | ¥ | 0 |  |  | ¥ | 2,863 |  |  | ¥ | (164,537 | ) |  | ¥ | 801,295 |
Japanese prefectural and foreign municipal bond securities |  |  | 389,150 |  |  |  | (144 | ) |  |  | 1,146 |  |  |  | (20,906 | ) |  |  | 369,246 |
Corporate debt securities |  |  | 851,525 |  |  |  | 0 |  |  |  | 6,270 |  |  |  | (73,407 | ) |  |  | 784,388 |
CMBS and RMBS in the Americas |  |  | 45,292 |  |  |  | 0 |  |  |  | 62 |  |  |  | (2,181 | ) |  |  | 43,173 |
Other asset-backed securities and debt securities |  |  | 239,922 |  |  |  | 0 |  |  |  | 5,735 |  |  |  | (9,151 | ) |  |  | 236,506 |
|  |  | 2,488,858 |  |  |  | (144 | ) |  |  | 16,076 |  |  |  | (270,182 | ) |  |  | 2,234,608 |
Held-to-maturity debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Japanese government bond securities and other |  |  | 114,759 |  |  |  | 0 |  |  |  | 14,919 |  |  |  | 0 |  |  |  | 129,678 |
|  | ¥ | 2,603,617 |  |  | ¥ | (144 | ) |  | ¥ | 30,995 |  |  | ¥ | (270,182 | ) |  | ¥ | 2,364,286 |
September 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Millions of yen |
|  | Amortized cost |  |  | Allowance for credit losses |  |  | Gross unrealized gains |  |  | Gross unrealized losses |  |  | Fair value |
Available-for-sale debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Japanese and foreign government bond securities |  | ¥ | 1,073,621 |  |  | ¥ | 0 |  |  | ¥ | 962 |  |  | ¥ | (262,776 | ) |  | ¥ | 811,807 |
Japanese prefectural and foreign municipal bond securities |  |  | 404,890 |  |  |  | (246 | ) |  |  | 390 |  |  |  | (35,223 | ) |  |  | 369,811 |
Corporate debt securities |  |  | 892,807 |  |  |  | 0 |  |  |  | 8,971 |  |  |  | (98,969 | ) |  |  | 802,809 |
CMBS and RMBS in the Americas |  |  | 70,307 |  |  |  | 0 |  |  |  | 198 |  |  |  | (2,312 | ) |  |  | 68,193 |
Other asset-backed securities and debt securities |  |  | 267,633 |  |  |  | (222 | ) |  |  | 5,456 |  |  |  | (7,170 | ) |  |  | 265,697 |
|  |  | 2,709,258 |  |  |  | (468 | ) |  |  | 15,977 |  |  |  | (406,450 | ) |  |  | 2,318,317 |
Held-to-maturity debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Japanese government bond securities and other |  |  | 115,515 |  |  |  | 0 |  |  |  | 10,098 |  |  |  | (1,493 | ) |  |  | 124,120 |
|  | ¥ | 2,824,773 |  |  | ¥ | (468 | ) |  | ¥ | 26,075 |  |  | ¥ | (407,943 | ) |  | ¥ | 2,442,437 |
Summary of rollforwards of allowance for credit losses | The following table presents rollforwards of the allowance for credit losses for the six months ended September 30, 2022 and 2023, respectively:
|  | Millions of yen |
|  | Six months ended September 30, 2022 |
|  | Foreign municipal bond securities |  |  | Japanese other asset- backed securities and debt securities |  |  | Total |
Beginning |  | ¥ | 132 |  |  | ¥ | 21 |  |  | ¥ | 153 |
Additional increases (decreases) to the allowance for credit losses on AFS debt securities that had an allowance recorded in a previous period, net |  |  | 0 |  |  |  | (5 | ) |  |  | (5 | )
Increase (Decrease) from the effects of changes in foreign exchange rates |  |  | 24 |  |  |  | 0 |  |  |  | 24 |
Ending |  | ¥ | 156 |  |  | ¥ | 16 |  |  | ¥ | 172 |
|  | Millions of yen |
|  | Six months ended September 30, 2023 |
|  | Foreign municipal bond securities |  |  | Foreign other asset- backed securities and debt securities |  |  | Total |
Beginning |  | ¥ | 144 |  |  | ¥ | 0 |  |  | ¥ | 144 |
Additions to the allowance for credit losses on available-for-sale debt securities for which credit losses were not previously recorded |  |  | 80 |  |  |  | 212 |  |  |  | 292 |
Increase (Decrease) from the effects of changes in foreign exchange rates |  |  | 22 |  |  |  | 10 |  |  |  | 32 |
Ending |  | ¥ | 246 |  |  | ¥ | 222 |  |  | ¥ | 468 |
The following table presents rollforwards of the allowance for credit losses for the three months ended September 30, 2022 and 2023, respectively:
|  | Millions of yen |
|  | Three months ended September 30, 2022 |
|  | Foreign municipal bond securities |  |  | Japanese other asset- backed securities and debt securities |  |  | Total |
Beginning |  | ¥ | 147 |  |  | ¥ | 16 |  |  | ¥ | 163 |
Increase (Decrease) from the effects of changes in foreign exchange rates |  |  | 9 |  |  |  | 0 |  |  |  | 9 |
Ending |  | ¥ | 156 |  |  | ¥ | 16 |  |  | ¥ | 172 |
|  | Millions of yen |
|  | Three months ended September 30, 2023 |
|  | Foreign municipal bond securities |  |  | Foreign other asset- backed securities and debt securities |  |  | Total |
Beginning |  | ¥ | 238 |  |  | ¥ | 216 |  |  | ¥ | 454 |
Increase (Decrease) from the effects of changes in foreign exchange rates |  |  | 8 |  |  |  | 6 |  |  |  | 14 |
Ending |  | ¥ | 246 |  |  | ¥ | 222 |  |  | ¥ | 468 |
Information about Available-for-Sale Securities with Gross Unrealized Losses and Length of Time Individual Securities Have Been in Continuous Unrealized Loss Position | The following tables provide information about available-for-sale debt securities with gross unrealized losses (including allowance for credit losses) and the length of time that individual securities have been in a continuous unrealized loss position as of March 31, 2023 and September 30, 2023, respectively: March 31, 2023
|  | Millions of yen |
|  | Less than 12 months |  |  | 12 months or more |  |  | Total |
|  | Fair value |  |  | Gross unrealized losses |  |  | Fair value |  |  | Gross unrealized losses |  |  | Fair value |  |  | Gross unrealized losses |
Available-for-sale debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Japanese and foreign government bond securities |  | ¥ | 2,588 |  |  | ¥ | (207 | ) |  | ¥ | 662,897 |  |  | ¥ | (164,330 | ) |  | ¥ | 665,485 |  |  | ¥ | (164,537 | )
Japanese prefectural and foreign municipal bond securities |  |  | 97,721 |  |  |  | (1,508 | ) |  |  | 194,280 |  |  |  | (19,542 | ) |  |  | 292,001 |  |  |  | (21,050 | )
Corporate debt securities |  |  | 191,669 |  |  |  | (6,570 | ) |  |  | 401,994 |  |  |  | (66,837 | ) |  |  | 593,663 |  |  |  | (73,407 | )
CMBS and RMBS in the Americas |  |  | 16,691 |  |  |  | (672 | ) |  |  | 23,653 |  |  |  | (1,509 | ) |  |  | 40,344 |  |  |  | (2,181 | )
Other asset-backed securities and debt securities |  |  | 63,958 |  |  |  | (2,300 | ) |  |  | 88,503 |  |  |  | (6,851 | ) |  |  | 152,461 |  |  |  | (9,151 | )
|  | ¥ | 372,627 |  |  | ¥ | (11,257 | ) |  | ¥ | 1,371,327 |  |  | ¥ | (259,069 | ) |  | ¥ | 1,743,954 |  |  | ¥ | (270,326 | )
September 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Millions of yen |
|  | Less than 12 months |  |  | 12 months or more |  |  | Total |
|  | Fair value |  |  | Gross unrealized losses |  |  | Fair value |  |  | Gross unrealized losses |  |  | Fair value |  |  | Gross unrealized losses |
Available-for-sale debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Japanese and foreign government bond securities |  | ¥ | 149,069 |  |  | ¥ | (13,479 | ) |  | ¥ | 628,120 |  |  | ¥ | (249,297 | ) |  | ¥ | 777,189 |  |  | ¥ | (262,776 | )
Japanese prefectural and foreign municipal bond securities |  |  | 107,381 |  |  |  | (3,827 | ) |  |  | 231,641 |  |  |  | (31,642 | ) |  |  | 339,022 |  |  |  | (35,469 | )
Corporate debt securities |  |  | 158,052 |  |  |  | (3,540 | ) |  |  | 475,625 |  |  |  | (95,429 | ) |  |  | 633,677 |  |  |  | (98,969 | )
CMBS and RMBS in the Americas |  |  | 7,409 |  |  |  | (34 | ) |  |  | 35,761 |  |  |  | (2,278 | ) |  |  | 43,170 |  |  |  | (2,312 | )
Other asset-backed securities and debt securities |  |  | 2,856 |  |  |  | (231 | ) |  |  | 145,796 |  |  |  | (7,107 | ) |  |  | 148,652 |  |  |  | (7,338 | )
|  | ¥ | 424,767 |  |  | ¥ | (21,111 | ) |  | ¥ | 1,516,943 |  |  | ¥ | (385,753 | ) |  | ¥ | 1,941,710 |  |  | ¥ | (406,864 | )
The following table provides information about available-for-sale debt securities with gross unrealized losses for which allowance for credit losses were not recorded and the length of time that individual securities have been in a continuous unrealized loss position as of March 31, 2023 and September 30, 2023, respectively: March 31, 2023
|  | Millions of yen |
|  | Less than 12 months |  |  | 12 months or more |  |  | Total |
|  | Fair value |  |  | Gross unrealized losses |  |  | Fair value |  |  | Gross unrealized losses |  |  | Fair value |  |  | Gross unrealized losses |
Available-for-sale debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Japanese and foreign government bond securities |  | ¥ | 2,588 |  |  | ¥ | (207 | ) |  | ¥ | 662,897 |  |  | ¥ | (164,330 | ) |  | ¥ | 665,485 |  |  | ¥ | (164,537 | )
Japanese prefectural and foreign municipal bond securities |  |  | 97,721 |  |  |  | (1,508 | ) |  |  | 190,805 |  |  |  | (19,398 | ) |  |  | 288,526 |  |  |  | (20,906 | )
Corporate debt securities |  |  | 191,669 |  |  |  | (6,570 | ) |  |  | 401,994 |  |  |  | (66,837 | ) |  |  | 593,663 |  |  |  | (73,407 | )
CMBS and RMBS in the Americas |  |  | 16,691 |  |  |  | (672 | ) |  |  | 23,653 |  |  |  | (1,509 | ) |  |  | 40,344 |  |  |  | (2,181 | )
Other asset-backed securities and debt securities |  |  | 63,958 |  |  |  | (2,300 | ) |  |  | 88,503 |  |  |  | (6,851 | ) |  |  | 152,461 |  |  |  | (9,151 | )
|  | ¥ | 372,627 |  |  | ¥ | (11,257 | ) |  | ¥ | 1,367,852 |  |  | ¥ | (258,925 | ) |  | ¥ | 1,740,479 |  |  | ¥ | (270,182 | )
September 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Millions of yen |
|  | Less than 12 months |  |  | 12 months or more |  |  | Total |
|  | Fair value |  |  | Gross unrealized losses |  |  | Fair value |  |  | Gross unrealized losses |  |  | Fair value |  |  | Gross unrealized losses |
Available-for-sale debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Japanese and foreign government bond securities |  | ¥ | 149,069 |  |  | ¥ | (13,479 | ) |  | ¥ | 628,120 |  |  | ¥ | (249,297 | ) |  | ¥ | 777,189 |  |  | ¥ | (262,776 | )
Japanese prefectural and foreign municipal bond securities |  |  | 106,003 |  |  |  | (3,743 | ) |  |  | 227,748 |  |  |  | (31,480 | ) |  |  | 333,751 |  |  |  | (35,223 | )
Corporate debt securities |  |  | 158,052 |  |  |  | (3,540 | ) |  |  | 475,625 |  |  |  | (95,429 | ) |  |  | 633,677 |  |  |  | (98,969 | )
CMBS and RMBS in the Americas |  |  | 7,409 |  |  |  | (34 | ) |  |  | 35,761 |  |  |  | (2,278 | ) |  |  | 43,170 |  |  |  | (2,312 | )
Other asset-backed securities and debt securities |  |  | 2,856 |  |  |  | (231 | ) |  |  | 145,267 |  |  |  | (6,939 | ) |  |  | 148,123 |  |  |  | (7,170 | )
|  | ¥ | 423,389 |  |  | ¥ | (21,027 | ) |  | ¥ | 1,512,521 |  |  | ¥ | (385,423 | ) |  | ¥ | 1,935,910 |  |  | ¥ | (406,450 | )

X
- Definition Allowance For Credit Losses On Accounts And Financing Receivable. + References No definition available. + Details
Name: | ck0001070304_AllowanceForCreditLossesOnAccountsAndFinancingReceivableTableTextBlock
Namespace Prefix: | ck0001070304_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Amortized Cost Gross Unrealized Gains and Losses and Fair Value of Investments Table + References No definition available. + Details
Name: | ck0001070304_AmortizedCostGrossUnrealizedGainsAndLossesAndFairValueOfInvestmentsTableTextBlock
Namespace Prefix: | ck0001070304_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | ck0001070304_InvestmentsScheduleAbstract
Namespace Prefix: | ck0001070304_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Carrying value, impairment and downward or upward adjustment due to changes of observable price on equity securities measured using the measurement alternative. + References No definition available. + Details
Name: | ck0001070304_SummaryOfImpairmentAndDownwardOrUpwardAdjustmentDueToChangesOfObservablePriceTableTextBlock
Namespace Prefix: | ck0001070304_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of marketable securities. This may consist of investments in certain debt and equity securities, short-term investments and other assets. + References No definition available. + Details
Name: | us-gaap_MarketableSecuritiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value). + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-6 + Details
Name: | us-gaap_ScheduleOfUnrealizedLossOnInvestmentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration