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Accumulated Other Comprehensive Income (Loss) | 12 Months Ended
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Mar. 31, 2024
Equity [Abstract] |
Accumulated Other Comprehensive Income (Loss) | 20. Accumulated Other Comprehensive Income (Loss) Changes in each component of accumulated other comprehensive income (loss) attributable to ORIX Corporation Shareholders in fiscal 2022, 2023 and 2024 are as follows:
|  | Millions of yen |
|  | Net unrealized gains (losses) on investment in securities |  |  | Impact of changes in policy liability discount rate |  |  | Debt valuation adjustments |  |  | Defined benefit pension plans |  |  | Foreign currency translation adjustments |  |  | Net unrealized gains (losses) on derivative instruments |  |  | Accumulated other comprehensive income (loss) |
Balance at March 31, 2021 |  | ¥ | (16,208 | ) |  | ¥ | – |  |  | ¥ | 558 |  |  | ¥ | (21,073 | ) |  | ¥ | (36,456 | ) |  | ¥ | (11,471 | ) |  | ¥ | (84,650 | )
Cumulative effect of adopting Accounting standards Update 2018-12, net of tax of ¥4,296 million |  |  |  |  |  | ¥ | (24,641 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | ¥ | (24,641 | )
Balance at April 1, 2021 |  | ¥ | (16,208 | ) |  | ¥ | (24,641 | ) |  | ¥ | 558 |  |  | ¥ | (21,073 | ) |  | ¥ | (36,456 | ) |  | ¥ | (11,471 | ) |  | ¥ | (109,291 | )
Net unrealized gains (losses) on investment in securities, net of tax of ¥21,836 million |  |  | (52,477 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (52,477 | )
Reclassification adjustment included in net income, net of tax of ¥61 million |  |  | (4,207 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (4,207 | )
Impact of changes in policy liability discount rate, net of tax of ¥(23,126 ) million |  |  |  |  |  |  | 62,177 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 62,177 |
Debt valuation adjustments, net of tax of ¥121 million |  |  |  |  |  |  |  |  |  |  | (311 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (311 | )
Reclassification adjustment included in net income, net of tax of ¥10 million |  |  |  |  |  |  |  |  |  |  | (26 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (26 | )
Defined benefit pension plans, net of tax of ¥(4,738) million |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 12,626 |  |  |  |  |  |  |  |  |  |  |  | 12,626 |
Reclassification adjustment included in net income, net of tax of ¥(151) million |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 376 |  |  |  |  |  |  |  |  |  |  |  | 376 |
Foreign currency translation adjustments, net of tax of ¥17,642 million |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 105,079 |  |  |  |  |  |  |  | 105,079 |
Reclassification adjustment included in net income, net of tax of ¥(295) million |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 614 |  |  |  |  |  |  |  | 614 |
Net unrealized gains (losses) on derivative instruments, net of tax of ¥(3,256) million |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 10,634 |  |  |  | 10,634 |
Reclassification adjustment included in net income, net of tax of ¥(1,478) million |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 4,436 |  |  |  | 4,436 |
Total other comprehensive income (loss) |  |  | (56,684 | ) |  |  | 62,177 |  |  |  | (337 | ) |  |  | 13,002 |  |  |  | 105,693 |  |  |  | 15,070 |  |  |  | 138,921 |
Transaction with noncontrolling interests |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | (1,472 | ) |  |  | (3 | ) |  |  | (1,475 | )
Less: Other Comprehensive Income Attributable to the Noncontrolling Interests |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 1 |  |  |  | 5,851 |  |  |  | 808 |  |  |  | 6,660 |
Balance at March 31, 2022 |  | ¥ | (72,892 | ) |  | ¥ | 37,536 |  |  | ¥ | 221 |  |  | ¥ | (8,072 | ) |  | ¥ | 61,914 |  |  | ¥ | 2,788 |  |  | ¥ | 21,495 |
Net unrealized gains (losses) on investment in securities, net of tax of ¥41,871 million |  |  | (109,745 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (109,745 | )
Reclassification adjustment included in net income, net of tax of ¥90 million |  |  | (421 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (421 | )
Impact of changes in policy liability discount rate, net of tax of ¥(43,576 ) million |  |  |  |  |  |  | 126,980 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 126,980 |
Debt valuation adjustments, net of tax of ¥(25) million |  |  |  |  |  |  |  |  |  |  | 67 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 67 |
Reclassification adjustment included in net income, net of tax of ¥5 million |  |  |  |  |  |  |  |  |  |  | (13 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (13 | )
Defined benefit pension plans, net of tax of ¥(1,706) million |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 4,659 |  |  |  |  |  |  |  |  |  |  |  | 4,659 |
Reclassification adjustment included in net income, net of tax of ¥76 million |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (211 | ) |  |  |  |  |  |  |  |  |  |  | (211 | )
Foreign currency translation adjustments, net of tax of ¥19,131 million |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 90,616 |  |  |  |  |  |  |  | 90,616 |
Reclassification adjustment included in net income, net of tax of ¥(1,806) million |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 4,091 |  |  |  |  |  |  |  | 4,091 |
Net unrealized gains (losses) on derivative instruments, net of tax of ¥(3,106) million |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 18,232 |  |  |  | 18,232 |
Reclassification adjustment included in net income, net of tax of ¥(408) million |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,438 |  |  |  | 1,438 |
Total other comprehensive income (loss) |  |  | (110,166 | ) |  |  | 126,980 |  |  |  | 54 |  |  |  | 4,448 |  |  |  | 94,707 |  |  |  | 19,670 |  |  |  | 135,693 |
Transaction with noncontrolling interests |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 2,903 |  |  |  | 1,493 |  |  |  | 4,396 |
Less: Other Comprehensive Income (loss) Attributable to the Noncontrolling Interests |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | (7 | ) |  |  | 3,637 |  |  |  | 1,868 |  |  |  | 5,498 |
Less: Other Comprehensive Income Attributable to the Redeemable Noncontrolling Interests |  |  | (24 | ) |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | (25 | ) |  |  | 0 |  |  |  | (49 | )
Balance at March 31, 2023 * |  | ¥ | (183,034 | ) |  | ¥ | 164,516 |  |  | ¥ | 275 |  |  | ¥ | (3,617 | ) |  | ¥ | 155,912 |  |  | ¥ | 22,083 |  |  | ¥ | 156,135 |
* | As of March 31, 2023, there were no net unrealized gains (losses) on investment in securities related to available-for-sale debt securities with allowance for credit losses.
|  | Millions of yen |
|  | Net unrealized gains (losses) on investment in securities |  |  | Impact of changes in policy liability discount rate |  |  | Debt valuation adjustments |  |  | Defined benefit pension plans |  |  | Foreign currency translation adjustments |  |  | Net unrealized gains (losses) on derivative instruments |  |  | Accumulated other comprehensive income (loss) |
Balance at March 31, 2023*1 |  | ¥ | (183,034 | ) |  | ¥ | 164,516 |  |  | ¥ | 275 |  |  | ¥ | (3,617 | ) |  | ¥ | 155,912 |  |  | ¥ | 22,083 |  |  | ¥ | 156,135 |
Net unrealized gains (losses) on investment in securities, net of tax of ¥27,906 million |  |  | (69,102 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (69,102 | )
Reclassification adjustment included in net income, net of tax of ¥(749) million |  |  | 1,340 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,340 |
Impact of changes in policy liability discount rate, net of tax of ¥(32,471) million |  |  |  |  |  |  | 93,269 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 93,269 |
Debt valuation adjustments, net of tax of ¥69 million |  |  |  |  |  |  |  |  |  |  | (177 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (177 | )
Reclassification adjustment included in net income, net of tax of ¥5 million |  |  |  |  |  |  |  |  |  |  | (14 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (14 | )
Defined benefit pension plans, net of tax of ¥(5,655) million |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 13,559 |  |  |  |  |  |  |  |  |  |  |  | 13,559 |
Reclassification adjustment included in net income, net of tax of ¥101 million |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (266 | ) |  |  |  |  |  |  |  |  |  |  | (266 | )
Foreign currency translation adjustments, net of tax of ¥35,593 million |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 163,062 |  |  |  |  |  |  |  | 163,062 |
Reclassification adjustment included in net income, net of tax of ¥(4,601) million |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 10,242 |  |  |  |  |  |  |  | 10,242 |
Net unrealized gains (losses) on derivative instruments, net of tax of ¥578 million |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (2,928 | ) |  |  | (2,928 | )
Reclassification adjustment included in net income, net of tax of ¥945 million |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (2,947 | ) |  |  | (2,947 | )
Total other comprehensive income (loss) |  |  | (67,762 | ) |  |  | 93,269 |  |  |  | (191 | ) |  |  | 13,293 |  |  |  | 173,304 |  |  |  | (5,875 | ) |  |  | 206,038 |
Transaction with noncontrolling interests |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 11 |  |  |  | (176 | ) |  |  | (165 | )
Less: Other Comprehensive Income (loss) Attributable to the Noncontrolling Interests |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 6 |  |  |  | 4,816 |  |  |  | (175 | ) |  |  | 4,647 |
Less: Other Comprehensive Income Attributable to the Redeemable Noncontrolling Interests |  |  | 10 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 203 |  |  |  | 0 |  |  |  | 213 |
Balance at March 31, 2024*2 |  | ¥ | (250,806 | ) |  | ¥ | 257,785 |  |  | ¥ | 84 |  |  | ¥ | 9,670 |  |  | ¥ | 324,208 |  |  | ¥ | 16,207 |  |  | ¥ | 357,148 |
*1 | As of March 31, 2023, the amount of impact of changes in policy liability discount rate contained a loss of ¥(24,641) million (net of tax of ¥4,296 million ) of cumulative effect of changes in the discount rates between contract inception date and the transition date of April 1, 2021 of LDTI and an income of ¥189,157 million (net of tax of ¥(66,702) million ) of changes after the transition date. For further information about impact of changes in policy liability discount rate, see Note 24. “Long-Duration Insurance Contracts Relating to Life Insurance Operations”.
*2 | As of March 31, 2024, net unrealized gains (losses) on investment in securities contained ¥(82) million (net of tax of ¥16 million ) of net unrealized gains (losses) in investment in securities related to available-for-sale debt securities with allowance for credit losses.
Amounts reclassified to net income from accumulated other comprehensive income (loss) for fiscal 2022, 2023 and 2024 are as follows:
|  | March 31, 2022
Details about accumulated other comprehensive income components |  | Reclassification adjustment included in net income |  |  | Consolidated statements of income caption
|  | Millions of yen |  |  |
Net unrealized gains (losses) on investment in securities |  |  |  |  |  |
Sales of debt securities |  | ¥ | 4,619 |  |  | Gains on investment securities and dividends
Sales of debt securities |  |  | 737 |  |  | Life insurance premiums and related investment income
Amortization of debt securities |  |  | 92 |  |  | Finance revenues
Amortization of debt securities |  |  | (658 | ) |  | Life insurance premiums and related investment income
Others |  |  | (522 | ) |  | Write-downs of securities
|  |  | 4,268 |  |  | Total before income tax
|  |  | (61 | ) |  | Income tax (expense) or benefit
|  | ¥ | 4,207 |  |  | Net of tax
Debt valuation adjustments |  |  |  |  |  |
Fulfillment of policy liabilities and amortization of policy account balances |  | ¥ | 36 |  |  | Life insurance costs
|  |  | 36 |  |  | Total before income tax
|  |  | (10 | ) |  | Income tax (expense) or benefit
|  | ¥ | 26 |  |  | Net of tax
Defined benefit pension plans |  |  |  |  |  |
Amortization of prior service credit |  | ¥ | 386 |  |  | See Note 17 “Pension Plans”
Amortization of net actuarial loss |  |  | (912 | ) |  | See Note 17 “Pension Plans”
Amortization of transition obligation |  |  | (1 | ) |  | See Note 17 “Pension Plans”
|  |  | (527 | ) |  | Total before income tax
|  |  | 151 |  |  | Income tax (expense) or benefit
|  | ¥ | (376 | ) |  | Net of tax
Foreign currency translation adjustments |  |  |  |  |  |
Foreign exchange contracts |  |  | (1,782 | ) |  | Gains on sales of subsidiaries and equity method investments and liquidation losses, net/Interest expense/Other (income) and expense
Sales or liquidation |  |  | 873 |  |  | Gains on sales of subsidiaries and equity method investments and liquidation losses, net
|  |  | (909 | ) |  | Total before income tax
|  |  | 295 |  |  | Income tax (expense) or benefit
|  | ¥ | (614 | ) |  | Net of tax
Net unrealized gains (losses) on derivative instruments |  |  |  |  |  |
Interest rate swap agreements |  | ¥ | (1,615 | ) |  | Interest expense
Foreign exchange contracts |  |  | (710 | ) |  | Interest expense/Other (income) and expense
Foreign currency swap agreements |  |  | (3,589 | ) |  | Interest expense/Other (income) and expense
|  |  | (5,914 | ) |  | Total before income tax
|  |  | 1,478 |  |  | Income tax (expense) or benefit
|  | ¥ | (4,436 | ) |  | Net of tax
|  | March 31, 2023
Details about accumulated other comprehensive income components |  | Reclassification adjustment included in net income |  |  | Consolidated statements of income caption
|  | Millions of yen |  |  |
Net unrealized gains (losses) on investment in securities |  |  |  |  |  |
Sales of debt securities |  | ¥ | 155 |  |  | Gains on investment securities and dividends
Sales of debt securities |  |  | (765 | ) |  | Life insurance premiums and related investment income
Amortization of debt securities |  |  | 509 |  |  | Finance revenues
Amortization of debt securities |  |  | 1,148 |  |  | Life insurance premiums and related investment income
Others |  |  | (536 | ) |  | Write-downs of securities
|  |  | 511 |  |  | Total before income tax
|  |  | (90 | ) |  | Income tax (expense) or benefit
|  | ¥ | 421 |  |  | Net of tax
Debt valuation adjustments |  |  |  |  |  |
Fulfillment of policy liabilities and amortization of policy account balances |  | ¥ | 18 |  |  | Life insurance costs
|  |  | 18 |  |  | Total before income tax
|  |  | (5 | ) |  | Income tax (expense) or benefit
|  | ¥ | 13 |  |  | Net of tax
Defined benefit pension plans |  |  |  |  |  |
Amortization of prior service credit |  | ¥ | 376 |  |  | See Note 17 “Pension Plans”
Amortization of net actuarial loss |  |  | (88 | ) |  | See Note 17 “Pension Plans”
Amortization of transition obligation |  |  | (1 | ) |  | See Note 17 “Pension Plans”
|  |  | 287 |  |  | Total before income tax
|  |  | (76 | ) |  | Income tax (expense) or benefit
|  | ¥ | 211 |  |  | Net of tax
Foreign currency translation adjustments |  |  |  |  |  |
Foreign exchange contracts |  | ¥ | (14,673 | ) |  | Gains on sales of subsidiaries and equity method investments and liquidation losses, net/Interest expense/Other (income) and expense
Sales or liquidation |  |  | 8,776 |  |  | Gains on sales of subsidiaries and equity method investments and liquidation losses, net
|  |  | (5,897 | ) |  | Total before income tax
|  |  | 1,806 |  |  | Income tax (expense) or benefit
|  | ¥ | (4,091 | ) |  | Net of tax
Net unrealized gains (losses) on derivative instruments |  |  |  |  |  |
Interest rate swap agreements |  | ¥ | (175 | ) |  | Interest expense
Foreign exchange contracts |  |  | 0 |  |  | Interest expense/Other (income) and expense
Foreign currency swap agreements |  |  | (1,671 | ) |  | Interest expense/Other (income) and expense
|  |  | (1,846 | ) |  | Total before income tax
|  |  | 408 |  |  | Income tax (expense) or benefit
|  | ¥ | (1,438 | ) |  | Net of tax
|  | March 31, 2024
Details about accumulated other comprehensive income components |  | Reclassification adjustment included in net income |  |  | Consolidated statements of income caption
|  | Millions of yen |  |  |
Net unrealized gains (losses) on investment in securities |  |  |  |  |  |
Sales of debt securities |  | ¥ | 231 |  |  | Gains on investment securities and dividends
Sales of debt securities |  |  | (7,184 | ) |  | Life insurance premiums and related investment income
Amortization of debt securities |  |  | 756 |  |  | Finance revenues
Amortization of debt securities |  |  | 4,108 |  |  | Life insurance premiums and related investment income
|  |  | (2,089 | ) |  | Total before income tax
|  |  | 749 |  |  | Income tax (expense) or benefit
|  | ¥ | (1,340 | ) |  | Net of tax
Debt valuation adjustments |  |  |  |  |  |
Fulfillment of policy liabilities and amortization of policy account balances |  | ¥ | 19 |  |  | Life insurance costs
|  |  | 19 |  |  | Total before income tax
|  |  | (5 | ) |  | Income tax (expense) or benefit
|  | ¥ | 14 |  |  | Net of tax
Defined benefit pension plans |  |  |  |  |  |
Amortization of prior service credit |  | ¥ | 438 |  |  | See Note 17 “Pension Plans”
Amortization of net actuarial loss |  |  | (70 | ) |  | See Note 17 “Pension Plans”
Amortization of transition obligation |  |  | (1 | ) |  | See Note 17 “Pension Plans”
|  |  | 367 |  |  | Total before income tax
|  |  | (101 | ) |  | Income tax (expense) or benefit
|  | ¥ | 266 |  |  | Net of tax
Foreign currency translation adjustments |  |  |  |  |  |
Foreign exchange contracts |  | ¥ | (14,952 | ) |  | Gains on sales of subsidiaries and equity method investments and liquidation losses, net/Interest expense
Sales or liquidation |  |  | 109 |  |  | Gains on sales of subsidiaries and equity method investments and liquidation losses, net
|  |  | (14,843 | ) |  | Total before income tax
|  |  | 4,601 |  |  | Income tax (expense) or benefit
|  | ¥ | (10,242 | ) |  | Net of tax
Net unrealized gains (losses) on derivative instruments |  |  |  |  |  |
Interest rate swap agreements |  | ¥ | 114 |  |  | Interest expense
Foreign currency swap agreements |  |  | 3,778 |  |  | Interest expense/Other (income) and expense
|  |  | 3,892 |  |  | Total before income tax
|  |  | (945 | ) |  | Income tax (expense) or benefit
|  | ¥ | 2,947 |  |  | Net of tax
Comprehensive income (loss) and its components attributable to ORIX Corporation and noncontrolling interests have been reported, net of tax, in the consolidated statements of changes in equity, and information about comprehensive income (loss) and its components attributable to redeemable noncontrolling interests is provided in Note 18 “Redeemable Noncontrolling Interests.” Total comprehensive income (loss) and its components have been reported, net of tax, in the consolidated statements of comprehensive income.

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