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Goodwill and Other Intangible Assets | 12 Months Ended
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Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | 13. Goodwill and Other Intangible Assets Changes in goodwill by reportable segment for fiscal 2022, 2023 and 2024 are as follows:
|  | Millions of yen |
|  | Corporate Financial Services and Maintenance Leasing |  |  | Real Estate |  |  | PE Investment and Concession |  |  | Environment and Energy |  |  | Insurance |  |  | Banking and Credit |
Balance at March 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill |  | ¥ | 67,350 |  |  | ¥ | 16,359 |  |  | ¥ | 122,464 |  |  | ¥ | 183 |  |  | ¥ | 5,015 |  |  | ¥ | 10,971 |
Accumulated impairment losses |  |  | (849 | ) |  |  | 0 |  |  |  | 0 |  |  |  | (39 | ) |  |  | 0 |  |  |  | 0 |
|  |  | 66,501 |  |  |  | 16,359 |  |  |  | 122,464 |  |  |  | 144 |  |  |  | 5,015 |  |  |  | 10,971 |
Acquired |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 49,115 |  |  |  | 0 |  |  |  | 0 |
Impairment |  |  | 0 |  |  |  | (191 | ) |  |  | 0 |  |  |  | 0 |  |  |  | (371 | ) |  |  | 0 |
Other (net)* |  |  | (54,925 | ) |  |  | 0 |  |  |  | (22,526 | ) |  |  | 357 |  |  |  | 0 |  |  |  | 0 |
Balance at March 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill |  |  | 12,425 |  |  |  | 16,359 |  |  |  | 99,938 |  |  |  | 49,655 |  |  |  | 5,015 |  |  |  | 10,971 |
Accumulated impairment losses |  |  | (849 | ) |  |  | (191 | ) |  |  | 0 |  |  |  | (39 | ) |  |  | (371 | ) |  |  | 0 |
|  |  | 11,576 |  |  |  | 16,168 |  |  |  | 99,938 |  |  |  | 49,616 |  |  |  | 4,644 |  |  |  | 10,971 |
Acquired |  |  | 3,529 |  |  |  | 0 |  |  |  | 119,767 |  |  |  | 4,028 |  |  |  | 0 |  |  |  | 0 |
Impairment |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |
Other (net)* |  |  | 0 |  |  |  | 0 |  |  |  | (12,954 | ) |  |  | 4,524 |  |  |  | 0 |  |  |  | 0 |
Balance at March 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill |  |  | 15,954 |  |  |  | 16,359 |  |  |  | 206,751 |  |  |  | 58,207 |  |  |  | 5,015 |  |  |  | 10,971 |
Accumulated impairment losses |  |  | (849 | ) |  |  | (191 | ) |  |  | 0 |  |  |  | (39 | ) |  |  | (371 | ) |  |  | 0 |
|  |  | 15,105 |  |  |  | 16,168 |  |  |  | 206,751 |  |  |  | 58,168 |  |  |  | 4,644 |  |  |  | 10,971 |
Acquired |  |  | 0 |  |  |  | 0 |  |  |  | 4,241 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |
Impairment |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |
Other (net)* |  |  | (54 | ) |  |  | 0 |  |  |  | (35,556 | ) |  |  | 6,840 |  |  |  | (192 | ) |  |  | (10,971 | )
Balance at March 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill |  |  | 15,900 |  |  |  | 16,359 |  |  |  | 175,436 |  |  |  | 65,047 |  |  |  | 4,823 |  |  |  | 0 |
Accumulated impairment losses |  |  | (849 | ) |  |  | (191 | ) |  |  | 0 |  |  |  | (39 | ) |  |  | (371 | ) |  |  | 0 |
|  | ¥ | 15,051 |  |  | ¥ | 16,168 |  |  | ¥ | 175,436 |  |  | ¥ | 65,008 |  |  | ¥ | 4,452 |  |  | ¥ | 0 |
|  | Millions of yen |
|  | Aircraft and Ships |  |  | ORIX USA |  |  | ORIX Europe |  |  | Asia and Australia |  |  | Corporate |  |  | Total |
Balance at March 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill |  | ¥ | 587 |  |  | ¥ | 129,812 |  |  | ¥ | 140,497 |  |  | ¥ | 7,792 |  |  | ¥ | 0 |  |  | ¥ | 501,030 |
Accumulated impairment losses |  |  | (587 | ) |  |  | (1,494 | ) |  |  | 0 |  |  |  | (2,785 | ) |  |  | 0 |  |  |  | (5,754 | )
|  |  | 0 |  |  |  | 128,318 |  |  |  | 140,497 |  |  |  | 5,007 |  |  |  | 0 |  |  |  | 495,276 |
Acquired |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 278 |  |  |  | 49,393 |
Impairment |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | (562 | )
Other (net)* |  |  | 0 |  |  |  | 12,682 |  |  |  | 8,773 |  |  |  | 388 |  |  |  | 0 |  |  |  | (55,251 | )
Balance at March 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill |  |  | 587 |  |  |  | 142,494 |  |  |  | 149,270 |  |  |  | 8,180 |  |  |  | 278 |  |  |  | 495,172 |
Accumulated impairment losses |  |  | (587 | ) |  |  | (1,494 | ) |  |  | 0 |  |  |  | (2,785 | ) |  |  | 0 |  |  |  | (6,316 | )
|  |  | 0 |  |  |  | 141,000 |  |  |  | 149,270 |  |  |  | 5,395 |  |  |  | 278 |  |  |  | 488,856 |
Acquired |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 127,324 |
Impairment |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |
Other (net)* |  |  | 0 |  |  |  | 10,582 |  |  |  | 9,318 |  |  |  | 33 |  |  |  | 0 |  |  |  | 11,503 |
Balance at March 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill |  |  | 587 |  |  |  | 153,076 |  |  |  | 158,588 |  |  |  | 8,213 |  |  |  | 278 |  |  |  | 633,999 |
Accumulated impairment losses |  |  | (587 | ) |  |  | (1,494 | ) |  |  | 0 |  |  |  | (2,785 | ) |  |  | 0 |  |  |  | (6,316 | )
|  |  | 0 |  |  |  | 151,582 |  |  |  | 158,588 |  |  |  | 5,428 |  |  |  | 278 |  |  |  | 627,683 |
Acquired |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 4,241 |
Impairment |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |
Other (net)* |  |  | 0 |  |  |  | 20,298 |  |  |  | 18,927 |  |  |  | 554 |  |  |  | 0 |  |  |  | (154 | )
Balance at March 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill |  |  | 587 |  |  |  | 173,374 |  |  |  | 177,515 |  |  |  | 8,767 |  |  |  | 278 |  |  |  | 638,086 |
Accumulated impairment losses |  |  | (587 | ) |  |  | (1,494 | ) |  |  | 0 |  |  |  | (2,785 | ) |  |  | 0 |  |  |  | (6,316 | )
|  | ¥ | 0 |  |  | ¥ | 171,880 |  |  | ¥ | 177,515 |  |  | ¥ | 5,982 |  |  | ¥ | 278 |  |  | ¥ | 631,770 |
* | Other (net) includes foreign currency translation adjustments, decreases due to sale of ownership interest in subsidiaries and certain other reclassifications.
As a result of the impairment test, the Company and its subsidiaries recognized impairment losses on goodwill of ¥191 million in Real Estate segment, and ¥371 million in Insurance segment during fiscal 2022. The Company and its subsidiaries recognized no impairment losses on goodwill during fiscal 2023 and 2024. These impairment losses are accounted in other (income) and expense. The fair values of these reporting units were measured using mainly discounted cash flow methodologies and business enterprise value multiples methodologies. Other intangible assets at March 31, 2023 and 2024 consist of the following:
|  | Millions of yen |
|  | 2023 |  |  | 2024 |
Indefinite-lived intangible assets: |  |  |  |  |  |  |  |
Trademarks and trade names |  | ¥ | 115,049 |  |  | ¥ | 126,192 |
Asset management contracts |  |  | 51,558 |  |  |  | 57,928 |
Others |  |  | 12,375 |  |  |  | 3,156 |
|  |  | 178,982 |  |  |  | 187,276 |
Intangible assets subject to amortization: |  |  |  |  |  |  |  |
Software |  |  | 141,747 |  |  |  | 142,049 |
Customer relationships |  |  | 161,936 |  |  |  | 184,475 |
Asset management contracts |  |  | 104,481 |  |  |  | 117,043 |
Others |  |  | 154,413 |  |  |  | 165,130 |
|  |  | 562,577 |  |  |  | 608,697 |
Accumulated amortization |  |  | (223,417 | ) |  |  | (263,023 | )
Net |  |  | 339,160 |  |  |  | 345,674 |
|  | ¥ | 518,142 |  |  | ¥ | 532,950 |
The aggregate amortization expenses for intangible assets are ¥32,235 million, ¥34,212 million and ¥39,213 million in fiscal 2022, 2023 and 2024, respectively. The estimated amortization expenses for each of five succeeding fiscal years are ¥39,066 million in fiscal 2025, ¥34,108 million in fiscal 2026, ¥32,021 million in fiscal 2027, ¥26,415 million in fiscal 2028 and ¥25,322 million in fiscal 2029, respectively. Intangible assets subject to amortization increased during fiscal 2024 are ¥41,043 million. They mainly consist of ¥16,500 million of software and ¥12,273 million of customer relationships recognized in acquisitions. The weighted average amortization periods for the software and customer relationships recognized in acquisitions are 7 years and 16 years, respectively. As a result of the impairment test, the Company and its subsidiaries recognized impairment losses of ¥650 million on intangible assets included in Corporate Financial Services and Maintenance Leasing segment, ¥259 million on intangible assets included in Aircraft and Ships segment, and ¥21,090 million on intangible assets included in ORIX Europe segment during fiscal 2022, and these impairment losses were included in other (income) and expense in the consolidated statements of income. The Company and its su bsidiaries recognized impairment losses of ¥ 1 million on intangible assets included in Corporate Financial Services and Maintenance Leasing segment , ¥405 million on intangible assets included in Aircraft and Ships segment, and ¥110 million on intangible assets included in ORIX USA segment during fiscal 202 3 , and th ese impairment losses were included in other (income) and expense in the consolidated statements of income. The Company and its s ubsidiaries recognized impairment losses of ¥24 million on intangible assets included in PE Investment and Concession segment, ¥87 million on intangible assets included in Environment and Energy segment, and ¥37 million on intangible assets included in Asia and Australia segment during fiscal 2024, and these impairment losses were included in selling, general and administrative expenses in the consolidated statements of income. These impairment losses are recognized due to the reduction in the estimated future cash flow, which brought the fair values of the intangible assets below its carrying amount. The fair values of these intangible assets were measured using mainly discounted cash flow methodologies.

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