XML 38 R23.htm IDEA: XBRL DOCUMENT
v3.24.1.1.u2

Short-Term and Long-Term Debt | 12 Months Ended
--- | ---
Mar. 31, 2024
Debt Disclosure [Abstract] |
Short-Term and Long-Term Debt | 14. Short-Term and Long-Term Debt Short-term debt consists of borrowings from financial institutions, commercial paper and others. The composition of short-term debt and the weighted average contract interest rate on short-term debt at March 31, 2023 and 2024 are as follows: March 31, 2023
|  | Millions of yen |  |  | Weighted average rate |
Short-term debt in Japan, mainly from banks |  | ¥ | 145,768 |  |  |  | 1.8 | %
Short-term debt outside Japan, mainly from banks |  |  | 318,519 |  |  |  | 4.5 |
Commercial paper in Japan |  |  | 42,997 |  |  |  | 0.1 |
Commercial paper outside Japan |  |  | 1,512 |  |  |  | 4.1 |
|  | ¥ | 508,796 |  |  |  | 3.4 |
March 31, 2024
|  | Millions of yen |  |  | Weighted average rate |
Short-term debt in Japan, mainly from banks |  | ¥ | 139,450 |  |  |  | 0.7 | %
Short-term debt outside Japan, mainly from banks |  |  | 297,372 |  |  |  | 5.0 |
Commercial paper in Japan |  |  | 7,998 |  |  |  | 0.1 |
Commercial paper outside Japan |  |  | 5,851 |  |  |  | 2.7 |
Secured borrowings on securities lending transactions |  |  | 120,116 |  |  |  | 1.1 |
Unsecured bonds |  |  | 1,122 |  |  |  | 4.7 |
Payables under securitized loan receivables and investment in securities |  |  | 2,186 |  |  |  | 4.0 |
|  |  | ¥574,095 |  |  |  | 3.1 |
The composition of long-term debt, the weighted average contract interest rate on long-term debt and the repayment due dates at March 31, 2023 and 2024 are as follows: March 31, 2023
|  | Due (Fiscal Year) |  |  | Millions of yen |  |  | Weighted average rate |
Banks: |  |  |  |  |  |  |  |  |  |  |  |
Fixed rate |  |  | 2025~2083 |  |  | ¥ | 666,764 |  |  |  | 1.6 | %
Floating rate |  |  | 2024~2077 |  |  |  | 2,448,488 |  |  |  | 2.8 |
Insurance companies and others: |  |  |  |  |  |  |  |  |  |  |  |
Fixed rate |  |  | 2025~2083 |  |  |  | 323,653 |  |  |  | 0.8 |
Floating rate |  |  | 2026~2077 |  |  |  | 295,625 |  |  |  | 2.0 |
Unsecured bonds |  |  | 2024~2081 |  |  |  | 1,175,087 |  |  |  | 2.0 |
Unsecured notes under medium-term note program |  |  | 2025~2029 |  |  |  | 149,535 |  |  |  | 3.7 |
Payables under securitized loan receivables and investment in securities |  |  | 2024~2051 |  |  |  | 150,571 |  |  |  | 5.5 |
|  |  |  |  |  | ¥ | 5,209,723 |  |  |  | 2.4 |
March 31, 2024
|  | Due (Fiscal Year) |  |  | Millions of yen |  |  | Weighted average rate |
Banks: |  |  |  |  |  |  |  |  |  |  |  |
Fixed rate |  |  | 2025~2083 |  |  | ¥ | 777,366 |  |  |  | 1.6 | %
Floating rate |  |  | 2025~2077 |  |  |  | 2,587,324 |  |  |  | 3.4 |
Insurance companies and others: |  |  |  |  |  |  |  |  |  |  |  |
Fixed rate |  |  | 2029~2083 |  |  |  | 352,035 |  |  |  | 0.6 |
Floating rate |  |  | 2029~2077 |  |  |  | 271,029 |  |  |  | 2.4 |
Unsecured bonds |  |  | 2026~2081 |  |  |  | 1,208,672 |  |  |  | 2.0 |
Unsecured notes under medium-term note program |  |  | 2028~2030 |  |  |  | 272,064 |  |  |  | 3.8 |
Payables under securitized loan receivables and investment in securities |  |  | 2025~2044 |  |  |  | 157,886 |  |  |  | 6.0 |
|  |  |  |  |  | ¥ | 5,626,376 |  |  |  | 2.7 |
The repayment schedule for the next five years and thereafter for long-term debt at March 31, 2024 is as follows:
Years ending March 31, |  | Millions of yen |
2025 |  | ¥ | 880,885 |
2026 |  |  | 728,921 |
2027 |  |  | 765,745 |
2028 |  |  | 775,531 |
2029 |  |  | 750,758 |
Thereafter |  |  | 1,724,536 |
Total |  | ¥ | 5,626,376 |
Borrowings with fixed rate from banks, insurance companies and others include the amount of ¥44,000 million of subordinated syndicated loan (hybrid loan). Out of this amount, ¥10,000 million was executed in fiscal 202 2 , and will mature in fiscal 2082 and may be redeemed after 5 years from the execution. ¥34,000 million was executed in fiscal 202 3 , and will mature in fiscal 2083 and may be redeemed after 5 years from the execution. Unsecured bonds include the amount of ¥150,000 million of unsecured subordinated bonds with interest payment deferrable clauses and optional early redemption conditions (hybrid bonds). Out of this amount, ¥100,000 million was executed in fiscal 2020, and will mature in fiscal 2080, of which ¥60,000 million and ¥40,000 million may be redeemed after 5 years, and 10 years from the execution, respectively. ¥50,000 million was executed in fiscal 2021, and will mature in fiscal 2081, of which ¥29,000 million and ¥21,000 million may be redeemed after 5 years, and 10 years from the execution, respectively. For borrowings from banks, insurance companies and other financial institutions, for bonds, and for medium-term notes, principal repayments are usually made upon maturity of the loan contracts and interest payments are usually paid semi-annually. During fiscal 2022, 2023 and 2024, the Company and certain subsidiaries recognized net amortization expenses of premiums and discounts of bonds and medium-term notes, and deferred issuance costs of bonds and medium-term notes in the amount of ¥1,013 million, ¥1,093 million and ¥1,247 million, respectively. Total committed credit lines for the Company and its subsidiaries were ¥698,560 million and ¥758,667 million at March 31, 2023 and 2024, respectively, and, of these lines, ¥518,585 million and ¥559,322 million were available at March 31, 2023 and 2024, respectively. Of the available committed credit lines, ¥479,039 million and ¥495,474 million were long-term committed credit lines at March 31, 2023 and 2024, respectively. The agreements related to debt payable to banks provide that the banks under certain circumstances may request additional security for loans and have the right to offset cash deposited against any short-term or long-term debt that becomes due and, in case of default and certain other specified events, against all other debt payable to the banks. Other than the assets of the consolidated VIEs pledged as collateral for financing (see Note 11 “Variable Interest Entities”), the Company and certain subsidiaries provide the following assets as collateral for the short-term and long-term debt payables to financial institutions as of March 31, 2024:
|  | Millions of yen |
Lease payments, loans and investment in operating leases |  | ¥ | 310,217 |
Investment in securities |  |  | 324,760 |
Property under facility operations |  |  | 231,425 |
Other assets and other |  |  | 69,740 |
|  | ¥ | 936,142 |
As of March 31, 2024, debt liabilities were secured by shares of subsidiaries of ¥367,973 million, which were eliminated through consolidation adjustment, and debt liabilities of equity method investees were secured by equity method investments of ¥34,204 million. As of March 31, 2024, debt liabilities were secured by loans to subsidiaries, which were eliminated through consolidation adjustment, of ¥9,299 million. In addition, ¥179,683 million was pledged primarily by investment in securities for collateral deposits and deposits for real estate transaction as of March 31, 2024. Under loan agreements relating to short-term and long-term debt from commercial banks and certain insurance companies, the Company and certain subsidiaries are required to provide collateral against these debts at any time if requested by the lenders. The Company and the subsidiaries did not receive any such requests from the lenders as of March 31, 2024.

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

X
- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Subparagraph (h) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(c)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 470 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//470/tableOfContent Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Subparagraph (g) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1C -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1C -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1C -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1E -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1I -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1I -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1I -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I + Details
Name: | us-gaap_DebtDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration