Accumulated Other Comprehensive Income (Loss) (Tables)

6 Months Ended

Sep. 30, 2024

Changes in Components of Accumulated Other Comprehensive Income (Loss)

Changes in each component of accumulated other comprehensive income (loss) attributable to ORIX Corporation Shareholders for the six months ended September 30, 2023 and 2024, are as follows:


	Six months ended September 30, 2023
	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	¥	(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 ¥35,524 million		(96,984	)															(96,984	)
Reclassification adjustment included in net income, net of tax of ¥1,211 million		(3,428	)															(3,428	)
Impact of changes in policy liability discount rate, net of tax of ¥(38,745) million					110,576													110,576
Debt valuation adjustments, net of tax of ¥43 million							(114	)										(114	)
Reclassification adjustment included in net income, net of tax of ¥3 million							(9	)										(9	)
Defined benefit pension plans, net of tax of ¥(19) million										51								51
Reclassification adjustment included in net income, net of tax of ¥52 million										(140	)							(140	)
Foreign currency translation adjustments, net of tax of ¥22,732 million													158,400					158,400
Reclassification adjustment included in net income, net of tax of ¥(2,328) million													5,183					5,183
Net unrealized gains (losses) on derivative instruments, net of tax of ¥(2,072) million															6,623			6,623
Reclassification adjustment included in net income, net of tax of ¥1,289 million															(4,215	)		(4,215	)

Total other comprehensive income (loss)		(100,412	)		110,576		(123	)		(89	)		163,583		2,408			175,943

Transaction with noncontrolling interests		0			0		0			0			11		(176	)		(165	)

Less: Other Comprehensive Income (loss) Attributable to the Noncontrolling Interests		0			0		0			0			5,191		(140	)		5,051

Less: Other Comprehensive Income (loss) Attributable to the Redeemable Noncontrolling Interests		(1	)		0		0			0			163		0			162

Balance at September 30, 2023 *	¥	(283,445	)	¥	275,092	¥	152		¥	(3,706	)	¥	314,152	¥	24,455		¥	326,700

*	As of September 30, 2023, net unrealized gains (losses) on investment in securities contained ¥(128) million (net of tax of ¥21 million ) of net unrealized gains (losses) on investment in securities related to available-for-sale debt securities with allowance for credit losses.


	Six months ended September 30, 2024
	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, 2024	¥	(250,806	)	¥	257,785	¥	84		¥	9,670		¥	324,208		¥	16,207		¥	357,148

Net unrealized gains (losses) on investment in securities, net of tax of ¥21,373 million		(51,324	)																(51,324	)
Reclassification adjustment included in net income, net of tax of ¥1,380 million		(3,432	)																(3,432	)
Impact of changes in policy liability discount rate, net of tax of ¥92 million					2,741														2,741
Debt valuation adjustments, net of tax of ¥28 million							(74	)											(74	)
Reclassification adjustment included in net income, net of tax of ¥1 million							(1	)											(1	)
Defined benefit pension plans, net of tax of ¥178 million										(352	)								(352	)
Reclassification adjustment included in net income, net of tax of ¥70 million										(174	)								(174	)
Foreign currency translation adjustments, net of tax of ¥(2,971) million													(68,723	)					(68,723	)
Reclassification adjustment included in net income, net of tax of ¥(2,332) million													5,190						5,190
Net unrealized gains (losses) on derivative instruments, net of tax of ¥2,552 million																(13,062	)		(13,062	)
Reclassification adjustment included in net income, net of tax of ¥(1,397) million																4,833			4,833

Total other comprehensive income (loss)		(54,756	)		2,741		(75	)		(526	)		(63,533	)		(8,229	)		(124,378	)
Less: Other Comprehensive Loss Attributable to the Noncontrolling Interests		0			0		0			(1	)		(1,153	)		(5	)		(1,159	)

Less: Other Comprehensive Loss Attributable to the Redeemable Noncontrolling Interests		(12	)		0		0			0			(157	)		0			(169	)

Balance at September 30, 2024 *	¥	(305,550	)	¥	260,526	¥	9		¥	9,145		¥	261,985		¥	7,983		¥	234,098

*	As of September 30, 2024, net unrealized gains (losses) on investment in securities contained ¥(39) million (net of tax of ¥15 million ) of net unrealized gains (losses) on 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)

Amounts reclassified to net income from accumulated other comprehensive income (loss) in the six months ended September 30, 2023 and 2024 are as follows:


	Six months ended September 30, 2023
Details about accumulated other comprehensive income components	Reclassification adjustment included in net income
	Millions of yen			Consolidated statements of income caption
Net unrealized gains (losses) on investment in securities
Sales of debt securities	¥	131		Gains on investment securities and dividends
Sales of debt securities		2,305		Life insurance premiums and related investment income
Amortization of debt securities		313		Finance revenues
Amortization of debt securities		1,890		Life insurance premiums and related investment income

		4,639		Total before income tax
		(1,211	)	Income tax (expense) or benefit

	¥	3,428		Net of tax

Debt valuation adjustments
Fulfillment of policy liabilities and amortization of policy account balances	¥	12		Life insurance costs

		12		Total before income tax
		(3	)	Income tax (expense) or benefit

	¥	9		Net of tax

Defined benefit pension plans
Amortization of prior service credit	¥	225		See Note 16 “Pension Plans”
Amortization of net actuarial loss		(32	)	See Note 16 “Pension Plans”
Amortization of transition obligation		(1	)	See Note 16 “Pension Plans”

		192		Total before income tax
		(52	)	Income tax (expense) or benefit

	¥	140		Net of tax

Foreign currency translation adjustments
Foreign exchange contracts	¥	(7,636	)	Gains on sales of subsidiaries and equity method investments and liquidation losses, net/Interest expense
Sales or liquidation		125		Gains on sales of subsidiaries and equity method investments and liquidation losses, net

		(7,511	)	Total before income tax
		2,328		Income tax (expense) or benefit

	¥	(5,183	)	Net of tax

Net unrealized gains (losses) on derivative instruments
Interest rate swap agreements	¥	(30	)	Interest expense
Foreign currency swap agreements		5,534		Interest expense/Other (income) and expense

		5,504		Total before income tax
		(1,289	)	Income tax (expense) or benefit

	¥	4,215		Net of tax


	Six months ended September 30, 2024
Details about accumulated other comprehensive income components	Reclassification adjustment included in net income
	Millions of yen			Consolidated statements of income caption
Net unrealized gains (losses) on investment in securities
Sales of debt securities	¥	750		Gains on investment securities and dividends
Sales of debt securities		(113	)	Life insurance premiums and related investment income
Amortization of debt securities		1,250		Finance revenues
Amortization of debt securities		2,925		Life insurance premiums and related investment income

		4,812		Total before income tax
		(1,380	)	Income tax (expense) or benefit

	¥	3,432		Net of tax

Debt valuation adjustments
Fulfillment of policy liabilities and amortization of policy account balances	¥	2		Life insurance costs

		2		Total before income tax
		(1	)	Income tax (expense) or benefit

	¥	1		Net of tax

Defined benefit pension plans
Amortization of prior service credit	¥	198		See Note 16 “Pension Plans”
Amortization of net actuarial loss		47		See Note 16 “Pension Plans”
Amortization of transition obligation		(1	)	See Note 16 “Pension Plans”

		244		Total before income tax
		(70	)	Income tax (expense) or benefit

	¥	174		Net of tax

Foreign currency translation adjustments
Foreign exchange contracts	¥	(8,425	)	Gains on sales of subsidiaries and equity method investments and liquidation losses, net/Interest expense
Sales or liquidation		903		Gains on sales of subsidiaries and equity method investments and liquidation losses, net

		(7,522	)	Total before income tax
		2,332		Income tax (expense) or benefit

	¥	(5,190	)	Net of tax

Net unrealized gains (losses) on derivative instruments
Interest rate swap agreements	¥	68		Interest expense
Foreign currency swap agreements		(6,294	)	Interest expense/Other (income) and expense
Options held/written and other		(4	)	Life insurance premiums and related investment income

		(6,230	)	Total before income tax
		1,397		Income tax (expense) or benefit

	¥	(4,833	)	Net of tax