March 31, 2020


	Millions of yen		Weighted average rate
Short-term debt in Japan, mainly from banks	¥	131,822		1.0	%
Short-term debt outside Japan, mainly from banks		187,300		2.2
Commercial paper in Japan		12,998		0.1
Commercial paper outside Japan		4,712		2.6

	¥	336,832		1.7

The composition of long-term debt, the weighted average contract interest rate on long-term debt and the repayment due dates at March 31, 2019 and 2020 are as follows:

March 31, 2019


	Due (Fiscal Year)		Millions of yen		Weighted average rate
Banks:
Fixed rate		2020~2037	¥	496,431		1.2	%
Floating rate		2020~2077		1,895,176		1.8
Insurance companies and others:
Fixed rate		2020~2037		348,103		0.8
Floating rate		2023~2077		271,170		0.7
Unsecured bonds		2023~2029		807,460		1.8
Unsecured notes under medium-term note program		2021~2027		190,082		3.1
Payables under securitized lease receivables		2021~2023		20,151		0.3
Payables under securitized loan receivables and investment in securities		2022~2039		157,649		2.4

			¥	4,186,222		1.7

March 31, 2020


	Due (Fiscal Year)		Millions of yen		Weighted average rate
Banks:
Fixed rate		2021~2037	¥	463,599		1.2	%
Floating rate		2021~2077		1,957,105		1.5
Insurance companies and others:
Fixed rate		2022~2037		336,821		1.2
Floating rate		2021~2077		336,949		1.8
Unsecured bonds		2022~2080		845,938		1.7
Unsecured notes under medium-term note program		2021~2027		176,802		3.1
Payables under securitized lease receivables		2021~2021		4,322		0.2
Payables under securitized loan receivables and investment in securities		2022~2039		157,818		2.2

			¥	4,279,354		1.6

The repayment schedule for the next five years and thereafter for long-term debt at March 31, 2020 is as follows:


Years ending March 31,	Millions of yen
2021	¥	658,813
2022		632,540
2023		599,752
2024		438,901
2025		520,526
Thereafter		1,428,822

Total	¥	4,279,354

Borrowings with floating rate from banks, insurance companies and others include the amount of ¥94,000 million of subordinated syndicated loan (hybrid loan executed in fiscal 2017, whose maturity date is fiscal 2077),

f which

¥60,000 million and ¥34,000 million

may

be repaid after 5 years, and 7 years respectively.

Unsecured bonds include the amount of ¥100,000 million of unsecured subordinated bonds with interest payment deferrable clauses and optional early redemption

conditions

(hybrid bonds executed in fiscal 2020, whose maturity date is fiscal 2080), of which ¥60,000 million and ¥40,000 million may be redeemed after 5 years, and 10 years respectively.

For borrowings from banks, insurance companies and other financial institutions, for bonds, and for medium-term notes, principal repayments are made upon maturity of the loan contracts and interest payments are usually paid semi-annually.

During fiscal 2018, 2019 and 2020, 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 ¥957 million, ¥1,005 million and ¥989 million, respectively.

Total committed credit lines for the Company and its subsidiaries were ¥497,882 million and ¥569,862 million at March 31, 2019 and 2020, respectively, and, of these lines, ¥346,609 million and ¥427,564 million were available at March 31, 2019 and 2020, respectively. Of the available committed credit lines, ¥303,309 million and ¥293,424 million were long-term committed credit lines at March 31, 2019 and 2020, 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 1

“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, 2020:


	Millions of yen
Lease payments, loans and investment in operating leases	¥	198,160
Investment in securities		167,800
Property under facility operations		28,275
Other assets and other		26,982

	¥	421,217

As of March 31, 2020, debt liabilities was secured by shares of subsidiaries of ¥166,888 million, which were eliminated through consolidation adjustment, and debt liabilities of affiliates were secured by investment in affiliates of ¥60,104 million. As of March 31, 2020, debt liabilities were secured by loans to subsidiaries, which were eliminated through consolidation adjustment, of ¥10,587 million. In addition, ¥69,313 million was pledged primarily by investment in securities for collateral deposits and deposit for real estate transaction as of March 31, 2020.

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, 2020.