| Property, plant and equipment |
12. Property, plant and equipment The changes in cost and accumulated depreciation and impairment losses are as follows: (Cost)
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Vehicles and
equipment on
operating leases |
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| Balance as of April 1, 2023 |
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1,426,370 |
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5,464,811 |
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14,796,619 |
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6,774,427 |
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846,866 |
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29,309,093 |
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| Additions |
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5,217 |
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136,241 |
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581,930 |
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2,893,569 |
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1,075,590 |
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4,692,547 |
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| Sales or disposal |
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(14,729 |
) |
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(39,296 |
) |
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(545,829 |
) |
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(2,974,283 |
) |
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(4,771 |
) |
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(3,578,908 |
) |
| Reclassification from construction in progress |
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5,691 |
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138,013 |
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776,356 |
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236 |
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(920,295 |
) |
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— |
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| Foreign currency translation adjustments |
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27,296 |
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153,948 |
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919,653 |
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812,366 |
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56,654 |
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1,969,916 |
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| Other |
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(8,033 |
) |
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31,032 |
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(59,696 |
) |
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17,596 |
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(13,856 |
) |
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(32,956 |
) |
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| Balance as of March 31, 2024 |
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1,441,811 |
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5,884,749 |
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16,469,032 |
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7,523,911 |
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1,040,188 |
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32,359,692 |
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| Additions |
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7,622 |
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74,469 |
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295,719 |
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3,866,922 |
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1,501,327 |
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5,746,060 |
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| Sales or disposal |
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(22,255 |
) |
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(60,228 |
) |
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(561,258 |
) |
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(3,185,673 |
) |
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(22,473 |
) |
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(3,851,888 |
) |
| Reclassification from construction in progress |
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15,842 |
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292,601 |
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572,844 |
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187 |
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(881,473 |
) |
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— |
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| Foreign currency translation adjustments |
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41 |
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(47,461 |
) |
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(154,892 |
) |
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(94,981 |
) |
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(19,444 |
) |
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(316,737 |
) |
| Other |
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(14,940 |
) |
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25,932 |
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(202 |
) |
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(58,420 |
) |
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(21,979 |
) |
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(69,609 |
) |
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| Balance as of March 31, 2025 |
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1,428,122 |
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6,170,063 |
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16,621,243 |
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8,051,945 |
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1,596,145 |
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33,867,518 |
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| (Accumulated depreciation and impairment losses)
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Vehicles and
equipment on
operating leases |
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Balance as of April 1, 2023 |
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(7,313 |
) |
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(3,529,186 |
) |
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(11,529,666 |
) |
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(1,605,744 |
) |
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(3,210 |
) |
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(16,675,119 |
) |
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Depreciation |
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— |
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(139,999 |
) |
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(974,181 |
) |
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(842,931 |
) |
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— |
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(1,957,111 |
) |
Impairment losses |
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— |
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(208 |
) |
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(18,862 |
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— |
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— |
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(19,069 |
) |
Sales or disposal |
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579 |
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34,067 |
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498,703 |
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962,901 |
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3 |
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1,496,254 |
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Foreign currency translation adjustments |
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(825 |
) |
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(84,432 |
) |
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(666,255 |
) |
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(162,784 |
) |
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2,810 |
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(911,486 |
) |
Other |
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574 |
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(34,029 |
) |
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(29,354 |
) |
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29,549 |
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(2,112 |
) |
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(35,373 |
) |
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Balance as of March 31, 2024 |
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(6,985 |
) |
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(3,753,786 |
) |
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(12,719,614 |
) |
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(1,619,009 |
) |
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(2,510 |
) |
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(18,101,905 |
) |
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Depreciation |
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— |
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(169,778 |
) |
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(1,039,696 |
) |
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(896,127 |
) |
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— |
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(2,105,601 |
) |
Impairment losses |
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— |
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— |
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— |
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— |
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— |
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— |
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Sales or disposal |
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1,244 |
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52,062 |
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516,767 |
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983,818 |
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— |
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1,553,891 |
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Foreign currency translation adjustments |
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(94 |
) |
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30,142 |
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109,227 |
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15,759 |
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55 |
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155,090 |
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Other |
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(1,091 |
) |
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(25,678 |
) |
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(24,281 |
) |
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16,972 |
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(1,223 |
) |
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(35,301 |
) |
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Balance as of March 31, 2025 |
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(6,927 |
) |
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(3,867,037 |
) |
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(13,157,598 |
) |
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(1,498,586 |
) |
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(3,678 |
) |
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(18,533,826 |
) |
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| Depreciation on “Property, plant and equipment” is included in “Cost of products sold” and “Selling, general and administrative” in the consolidated statement of income. Vehicles and equipment on operating leases consist of the following:
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Vehicles |
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7,471,187 |
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7,996,894 |
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Equipment |
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52,724 |
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55,051 |
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7,523,911 |
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8,051,945 |
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Less - Accumulated depreciation |
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(1,619,009 |
) |
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(1,498,586 |
) |
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Vehicles and equipment on operating leases, net |
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5,904,902 |
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6,553,359 |
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| The following table presents future lease payments to be received for vehicles and equipment on operating leases:
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Within 1 year |
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1,003,221 |
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1,200,378 |
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Between 1 and 2 years |
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678,342 |
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837,956 |
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Between 2 and 3 years |
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314,496 |
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374,459 |
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Between 3 and 4 years |
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77,715 |
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93,396 |
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Between 4 and 5 years |
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28,267 |
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35,953 |
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Later than 5 years |
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13,619 |
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17,235 |
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Total future rentals |
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2,115,660 |
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2,559,377 |
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| The future lease payments to be received as shown above should not be considered indicative of future cash collections. Right of use assets that are held as rental assets included within “Vehicles and equipment on operating leases, net” are ¥ 4,306,566 4,664,376 million, as of March 31, 2024 and 2025, respectively. The additions and total cash outflows for these right of use assets for the year ended March 31, 2024 and 2025, were ¥ 2,091,013 2,909,058 million, respectively. Depreciation expenses for these assets for the year ended March 31, 2023, 2024 and 2025, were ¥ 666,385 612,569 617,495 million, respectively. Depreciation on these right of use assets is included in “Cost of financing services” in the consolidated statement of income. Revenue from subleasing these right of use assets was ¥ 992,730 million, ¥947,058 million and ¥1,008,634 million for the years ended March 31, 2023, 2024 and 2025, respectively. |