Leases (Table)

12 Months Ended

Mar. 31, 2020

Leases [Abstract]

Lease Income

Lease income for fiscal 2020 is as follows:

	Millions of yen
	Fiscal Year ended March 31, 2020
Lease income – net investment in leases
Interest income	¥	72,663
Other		2,412
Lease income – operating leases*		430,665
Total lease income	¥	505,740

* Gains from the disposition of real estate under operating leases included in operating lease revenues are ¥30,154 million, and gains from the disposition of operating lease assets other than real estate included in operating lease revenues are ¥20,918 million for fiscal year 2020.

Net investment in lease direct financing and sales type

Net investment in leases at March 31, 2020 consists of the following:

	Millions of yen
	March 31, 2020
Lease receivables	¥	1,049,409
Unguaranteed residual value		27,868
Initial direct costs		3,687
Total	¥	1,080,964

Investment in Operating Leases

Investment in operating leases at March 31, 2020 consists of the following:

	Millions of yen
	March 31, 2020
Transportation equipment	¥	1,305,908
Measuring and information-related equipment		287,301
Real estate		305,981
Other		32,119
		1,931,309
Accumulated depreciation		(678,245	)
Net		1,253,064
Right-of-use assets (operating leases)		121,553
Accrued rental receivables		25,384
Total	¥	1,400,001

Depreciation and Various Expenses (Insurance, Property Tax and Other) of Operating Lease

Costs of operating leases include depreciation and various expenses (insurance, property tax and other). Depreciation and various expenses for fiscal 2020 are as follows:

	Millions of yen
	Fiscal Year ended March 31, 2020
Depreciation expenses	¥	209,586
Various expenses		80,018
Total	¥	289,604

Lease Receivables of the Operating Lease Contracts

Remaining lease receivables of the operating lease contracts range up to 61 years at March 31, 2020. At March 31, 2020, the amounts due in each of the next five years and thereafter are as follows:

	Millions of yen
Years ending March 31,	Net investment in leases			Operating leases
2021	¥	411,013		¥	289,277
2022		297,692			194,257
2023		197,792			130,752
2024		120,602			83,242
2025		68,894			48,525
Thereafter		82,385			126,200
Total lease payments		1,178,377		¥	872,253
Less imputed interest		(128,968	)
Total lease receivables	¥	1,049,409

Component of Lease Expense

The component of lease expense for fiscal 2020 are as follows:

	Millions of yen
	Year ended March 31, 2020
Finance lease cost
Depreciation expenses of right-of-use assets	¥	743
Interest expenses of lease liabilities		302
		1,045
Operating lease cost		42,427
Short-term lease cost		2,633
Variable lease cost		948
Sublease income		(3,688	)
Total	¥	43,365

Cash Flow Information Related To Lease

Supplemental cash flow information related to leases for fiscal 2020 are as follows:

	Millions of yen
	Year Ended March 31, 2020
	Finance leases		Operating leases
Cash paid for amounts included in the measurements of lease liabilities:
Cash flows from operating activities	¥	302	¥	44,610
Cash flows from financing activities		494		0
Right-of-use assets obtained in exchange for lease liabilities:	¥	531	¥	39,775

Balance Sheet Information Related to Lessee Leases

Supplemental balance sheet information related to lessee leases at March 31, 2020 are as follows:

	Millions of yen, except lease term and discount rate
	March 31, 2020
	Finance leases			Operating leases
Investment in Operating Leases	¥	0		¥	121,553
Property under Facility Operations		2,241			73,226
Office Facilities		8			75,381
Total right-of-use assets		2,249			270,160
Other Liabilities		2,840			266,790
Total lease liabilities	¥	2,840		¥	266,790
Weighted average remaining lease term		9years			13years
Weighted average discount rate		3.01	%		1.08	%

Operating And Finance Lease Liability Maturity

At March 31, 2020, the amounts of lease liabilities related to lessee leases due in each of the next five years and thereafter are as follows:

	Millions of yen
Years ending March 31,	Finance leases			Operating leases
2021	¥	485		¥	45,303
2022		484			30,701
2023		482			26,884
2024		477			23,861
2025		473			21,649
Thereafter		848			135,909
Total lease payments		3,249			284,307
Less imputed interest		(409	)		(17,517	)
Total lease liabilities	¥	2,840		¥	266,790