v3.25.2
Financial Instruments (Tables)
 12 Months Ended
Mar. 31, 2025
Financial Instruments [Abstract]  
Schedule of Financial Assets at Fair Value
JPY (millions)
As of March 31, 2024
Financial assets measured at amortized
cost		Measured at fair value through other comprehensive incomeMeasured at fair value through profit or lossDerivative hedging instrumentsOther financial liabilitiesTotal
Financial assets measured at fair value
Other financial assets -
Equity instruments¥— ¥182,887 ¥— ¥— ¥— ¥182,887 
Derivative financial instruments— — 17,617 102,606 — 120,223 
Investments in convertible notes— — 13,459 — — 13,459 
Investments in debt instruments— — 1,113 — — 1,113 
Financial assets associated with contingent consideration arrangements— — 12,293 — — 12,293 
Trade and other receivables— 83,734 — — — 83,734 
Total¥— ¥266,621 ¥44,482 ¥102,606 ¥— ¥413,709 
Financial assets not measured at fair value
Other financial assets -
Other¥25,892 ¥— ¥— ¥— ¥— ¥25,892 
Trade and other receivables584,669 — — — — 584,669 
Cash and cash equivalents457,800 — — — — 457,800 
Total¥1,068,361 ¥— ¥— ¥— ¥— ¥1,068,361 
Financial liabilities measured at fair value
Other financial liabilities -
Derivative financial instruments¥— ¥— ¥13,783 ¥11,325 ¥— ¥25,108 
Financial liabilities associated with contingent consideration arrangements— — 7,772 — — 7,772 
Other— — 1,797 — — 1,797 
Total¥— ¥— ¥23,352 ¥11,325 ¥— ¥34,677 
Financial liabilities not measured at fair value
Other financial liabilities -
Lease liabilities¥— ¥— ¥— ¥— ¥619,639 ¥619,639 
Other— — — — 176,938 176,938 
Trade and other payables— — — — 547,521 547,521 
Bonds and loans— — — — 4,843,752 4,843,752 
Total¥— ¥— ¥— ¥— ¥6,187,850 ¥6,187,850 
JPY (millions)
As of March 31, 2025
Financial assets measured at amortized
cost		Measured at fair value through other comprehensive incomeMeasured at fair value through profit or lossDerivative hedging instrumentsOther financial liabilitiesTotal
Financial assets measured at fair value
Other financial assets -
Equity instruments¥— ¥151,687 ¥— ¥— ¥— ¥151,687 
Derivative financial instruments— — 12,361 72,007 — 84,369 
Investments in convertible notes— — 10,424 — — 10,424 
Investments in debt instruments— 79,342 12,005 — — 91,348 
Financial assets associated with contingent consideration arrangements— — 10,197 — — 10,197 
Trade and other receivables— 65,568 — — — 65,568 
Total
¥— ¥296,597 ¥44,987 ¥72,007 ¥— ¥413,592 
Financial assets not measured at fair value
Other financial assets -
Other¥23,576 ¥— ¥— ¥— ¥— ¥23,576 
Trade and other receivables643,896 — — — — 643,896 
Cash and cash equivalents385,113 — — — — 385,113 
Total¥1,052,586 ¥— ¥— ¥— ¥— ¥1,052,586 
Financial liabilities measured at fair value
Other financial liabilities -
Derivative financial instruments¥— ¥— ¥16,309 ¥219 ¥— ¥16,528 
Financial liabilities associated with contingent consideration arrangements— — 4,362 — — 4,362 
Total
¥— ¥— ¥20,671 ¥219 ¥— ¥20,890 
Financial liabilities not measured at fair value
Other financial liabilities -
Lease liabilities¥— ¥— ¥— ¥— ¥573,325 ¥573,325 
Other— — — — 175,805 175,805 
Trade and other payables— — — — 475,541 475,541 
Bonds and loans— — — — 4,515,265 4,515,265 
Total¥— ¥— ¥— ¥— ¥5,739,936 ¥5,739,936 
Schedule of Financial Liabilities at Fair Value
JPY (millions)
As of March 31, 2024
Financial assets measured at amortized
cost		Measured at fair value through other comprehensive incomeMeasured at fair value through profit or lossDerivative hedging instrumentsOther financial liabilitiesTotal
Financial assets measured at fair value
Other financial assets -
Equity instruments¥— ¥182,887 ¥— ¥— ¥— ¥182,887 
Derivative financial instruments— — 17,617 102,606 — 120,223 
Investments in convertible notes— — 13,459 — — 13,459 
Investments in debt instruments— — 1,113 — — 1,113 
Financial assets associated with contingent consideration arrangements— — 12,293 — — 12,293 
Trade and other receivables— 83,734 — — — 83,734 
Total¥— ¥266,621 ¥44,482 ¥102,606 ¥— ¥413,709 
Financial assets not measured at fair value
Other financial assets -
Other¥25,892 ¥— ¥— ¥— ¥— ¥25,892 
Trade and other receivables584,669 — — — — 584,669 
Cash and cash equivalents457,800 — — — — 457,800 
Total¥1,068,361 ¥— ¥— ¥— ¥— ¥1,068,361 
Financial liabilities measured at fair value
Other financial liabilities -
Derivative financial instruments¥— ¥— ¥13,783 ¥11,325 ¥— ¥25,108 
Financial liabilities associated with contingent consideration arrangements— — 7,772 — — 7,772 
Other— — 1,797 — — 1,797 
Total¥— ¥— ¥23,352 ¥11,325 ¥— ¥34,677 
Financial liabilities not measured at fair value
Other financial liabilities -
Lease liabilities¥— ¥— ¥— ¥— ¥619,639 ¥619,639 
Other— — — — 176,938 176,938 
Trade and other payables— — — — 547,521 547,521 
Bonds and loans— — — — 4,843,752 4,843,752 
Total¥— ¥— ¥— ¥— ¥6,187,850 ¥6,187,850 
JPY (millions)
As of March 31, 2025
Financial assets measured at amortized
cost		Measured at fair value through other comprehensive incomeMeasured at fair value through profit or lossDerivative hedging instrumentsOther financial liabilitiesTotal
Financial assets measured at fair value
Other financial assets -
Equity instruments¥— ¥151,687 ¥— ¥— ¥— ¥151,687 
Derivative financial instruments— — 12,361 72,007 — 84,369 
Investments in convertible notes— — 10,424 — — 10,424 
Investments in debt instruments— 79,342 12,005 — — 91,348 
Financial assets associated with contingent consideration arrangements— — 10,197 — — 10,197 
Trade and other receivables— 65,568 — — — 65,568 
Total
¥— ¥296,597 ¥44,987 ¥72,007 ¥— ¥413,592 
Financial assets not measured at fair value
Other financial assets -
Other¥23,576 ¥— ¥— ¥— ¥— ¥23,576 
Trade and other receivables643,896 — — — — 643,896 
Cash and cash equivalents385,113 — — — — 385,113 
Total¥1,052,586 ¥— ¥— ¥— ¥— ¥1,052,586 
Financial liabilities measured at fair value
Other financial liabilities -
Derivative financial instruments¥— ¥— ¥16,309 ¥219 ¥— ¥16,528 
Financial liabilities associated with contingent consideration arrangements— — 4,362 — — 4,362 
Total
¥— ¥— ¥20,671 ¥219 ¥— ¥20,890 
Financial liabilities not measured at fair value
Other financial liabilities -
Lease liabilities¥— ¥— ¥— ¥— ¥573,325 ¥573,325 
Other— — — — 175,805 175,805 
Trade and other payables— — — — 475,541 475,541 
Bonds and loans— — — — 4,515,265 4,515,265 
Total¥— ¥— ¥— ¥— ¥5,739,936 ¥5,739,936 
Schedule of Fair Value Measurement of Assets
JPY (millions)
As of March 31, 2024
Level 1Level 2Level 3Total
Assets:
Financial assets measured at fair value through profit or loss
Derivatives
¥— ¥8,511 ¥9,106 ¥17,617 
Investment in convertible notes
— — 13,459 13,459 
Investment in debt instruments— — 1,113 1,113 
Financial assets associated with contingent consideration arrangements— — 12,293 12,293 
Derivatives for which hedge accounting is applied— 102,606 — 102,606 
Financial assets measured at fair value through OCI
Trade and other receivables— 83,734 — 83,734 
Equity instruments
93,962 — 88,925 182,887 
Total¥93,962 ¥194,851 ¥124,896 ¥413,709 
Liabilities:
Financial liabilities measured at fair value through profit or loss
Derivatives
¥— ¥4,677 ¥9,106 ¥13,783 
Financial liabilities associated with contingent consideration arrangements
— — 7,772 7,772 
Other
— — 1,797 1,797 
Derivatives for which hedge accounting is applied— 11,325 — 11,325 
Total¥— ¥16,002 ¥18,675 ¥34,677 
JPY (millions)
As of March 31, 2025
Level 1Level 2Level 3Total
Assets:
Financial assets measured at fair value through profit or loss
Derivatives
¥— ¥2,892 ¥9,470 ¥12,361 
Investment in convertible notes
— — 10,424 10,424 
Investment in debt instruments— — 12,005 12,005 
Financial assets associated with contingent consideration arrangements
— — 10,197 10,197 
Derivatives for which hedge accounting is applied— 72,007 — 72,007 
Financial assets measured at fair value through OCI
Trade and other receivables— 65,568 — 65,568 
Equity instruments
78,073 — 73,614 151,687 
Investments in debt instruments
79,342 — — 79,342 
Total¥157,415 ¥140,467 ¥115,709 ¥413,592 
Liabilities:
Financial liabilities measured at fair value through profit or loss
Derivatives
¥— ¥6,475 ¥9,834 ¥16,309 
Financial liabilities associated with contingent consideration arrangements
— — 4,362 4,362 
Derivatives for which hedge accounting is applied— 219 — 219 
Total¥— ¥6,694 ¥14,196 ¥20,890 
JPY (millions)
For the Year Ended March 31
20242025
Financial assets associated with contingent consideration arrangementsEquity instrumentsFinancial assets associated with contingent consideration arrangementsEquity instruments
As of the beginning of the year¥23,806 ¥83,236 ¥12,293 ¥88,925 
Recognition of financial assets associated with contingent consideration arrangements— — 147 — 
Changes recognized as finance income (expenses)(702)— 516 — 
Changes in fair value of financial assets associated with contingent consideration due to other elements than time value(12,415)— (1,789)— 
Changes in fair value of financial assets measured at fair value through OCI and exchange differences on translation of foreign operations1,604 4,900 (970)(16,846)
Purchases— 1,760 — 2,843 
Sales— (217)— (361)
Transfers to Level 1— (5,008)— (1,626)
Acquisition from conversion of convertible notes— 4,254 — 1,488 
Transfers to investments accounted for using the equity method— — — (809)
As of the end of the year¥12,293 ¥88,925 ¥10,197 ¥73,614 
Schedule of Fair Value Measurement of Liabilities
JPY (millions)
As of March 31, 2024
Level 1Level 2Level 3Total
Assets:
Financial assets measured at fair value through profit or loss
Derivatives
¥— ¥8,511 ¥9,106 ¥17,617 
Investment in convertible notes
— — 13,459 13,459 
Investment in debt instruments— — 1,113 1,113 
Financial assets associated with contingent consideration arrangements— — 12,293 12,293 
Derivatives for which hedge accounting is applied— 102,606 — 102,606 
Financial assets measured at fair value through OCI
Trade and other receivables— 83,734 — 83,734 
Equity instruments
93,962 — 88,925 182,887 
Total¥93,962 ¥194,851 ¥124,896 ¥413,709 
Liabilities:
Financial liabilities measured at fair value through profit or loss
Derivatives
¥— ¥4,677 ¥9,106 ¥13,783 
Financial liabilities associated with contingent consideration arrangements
— — 7,772 7,772 
Other
— — 1,797 1,797 
Derivatives for which hedge accounting is applied— 11,325 — 11,325 
Total¥— ¥16,002 ¥18,675 ¥34,677 
JPY (millions)
As of March 31, 2025
Level 1Level 2Level 3Total
Assets:
Financial assets measured at fair value through profit or loss
Derivatives
¥— ¥2,892 ¥9,470 ¥12,361 
Investment in convertible notes
— — 10,424 10,424 
Investment in debt instruments— — 12,005 12,005 
Financial assets associated with contingent consideration arrangements
— — 10,197 10,197 
Derivatives for which hedge accounting is applied— 72,007 — 72,007 
Financial assets measured at fair value through OCI
Trade and other receivables— 65,568 — 65,568 
Equity instruments
78,073 — 73,614 151,687 
Investments in debt instruments
79,342 — — 79,342 
Total¥157,415 ¥140,467 ¥115,709 ¥413,592 
Liabilities:
Financial liabilities measured at fair value through profit or loss
Derivatives
¥— ¥6,475 ¥9,834 ¥16,309 
Financial liabilities associated with contingent consideration arrangements
— — 4,362 4,362 
Derivatives for which hedge accounting is applied— 219 — 219 
Total¥— ¥6,694 ¥14,196 ¥20,890 
Schedule of Fair Value of Contingent Consideration Classified as Level 3
The fair value of financial liabilities associated with contingent consideration arrangements are classified as Level 3 in the fair value hierarchy. The following table shows a reconciliation from the opening balances to the closing balances and payment term for financial liabilities associated with contingent consideration arrangements for the years ended March 31, 2024 and 2025, respectively. There are no significant changes in fair value during the changes in significant assumptions which influence the fair value measurement for financial liabilities associated with contingent consideration arrangements.
JPY (millions)
For the Year Ended March 31
20242025
As of the beginning of the year¥8,139 ¥7,772 
Changes in the fair value during the period8,678 (2,059)
Settled and paid during the period(9,032)(774)
Foreign currency translation differences(13)(577)
As of the end of the year¥7,772 ¥4,362 
JPY (millions)
As of March 31
20242025
Payment term (undiscounted)
Within one year¥2,207 ¥3,003 
Between one and three years3,698 1,398 
Between three and five years1,855 — 
More than five years1,171 — 
Schedule of Financial Liabilities Not Measured at Fair Value
The carrying amount and fair value of financial instruments that are not measured at fair value in the consolidated statements of financial position are as follows. Fair value information is not provided for financial instruments, if the carrying amount is a reasonable estimate of fair value due to the relatively short period of maturity of these instruments.
JPY (millions)
As of March 31
20242025
Carrying amountFair valueCarrying amountFair value
Bonds¥3,775,879 ¥3,420,668 ¥3,920,632 ¥3,578,117 
Long-term loans750,622 746,831 250,012 245,220 
Schedule of Derivative Assets and Liabilities
JPY (millions)
As of March 31, 2024
Contract amount Contract amount to be settled in more than one yearFair value
Forward exchange contracts:
Selling:
Euro¥710,301 ¥— ¥(9,663)
United States Dollar170,364 — (2,618)
Buying:
Euro336,271 — 6,268 
Cross currency interest rate swaps:
Buying:
United States Dollar874,974 874,974 95,368 
JPY (millions)
As of March 31, 2025
Contract amount Contract amount to be settled in more than one yearFair value
Forward exchange contracts:
Selling:
Euro¥1,178,796 ¥— ¥(3,120)
United States Dollar128,717 — 1,673 
Buying:
Euro305,964 — 1,054 
United States Dollar129,574 — (1,693)
Cross currency interest rate swaps:
Buying:
United States Dollar774,089 774,089 68,154 
The following summarizes interest rate swaps, forward interest rate contracts, and cross currency interest rate swaps designated as cash flow hedges as of March 31:
JPY (millions)
As of March 31
Contract amountContract amount to be settled in more than one yearFair value
2024¥1,322,069 ¥1,052,069 ¥101,128 
20251,103,099 829,089 70,291 
The following tables represent the items designated as hedging instruments, amounts within other components of equity related to items designated as hedged items and amounts of changes in fair value of hedging instruments recorded in other comprehensive income and the amounts reclassified from the hedging reserve to profit or loss as of and for the year ended March 31, 2024:
JPY (millions)
As of March 31, 2024
NotionalCarrying amount – assetsCarrying amount – liabilitiesLine item in the statement of financial position where hedging instrument is includedAverage rate used for the fair value of the hedging instrument
Cash flow hedges
Interest risk
Interest rate swaps
USD 575 million¥7,172 ¥— Other financial assets2.83 %
JPY 90,000 million33 0 Other financial assets /liabilities0.57 %
Forward interest rate
JPY 270,000 million34 1,477 Other financial assets /liabilities0.53 %
Currency and interest risk
Cross currency interest rate swaps
USD 6,675 million95,368 — Other financial assets
131.08 JPY
(0.09)%
Net investment hedges
Foreign currency denominated bonds and loansUSD 3,581 million— 542,399 Bonds and loans
EUR 6,628 million— 1,081,796 Bonds and loans
   Forward exchange contractsUSD 1,168 million— 2,618 Other financial liabilities
EUR 1,000 million— 7,229 Other financial liabilities
JPY (millions)
As of March 31, 2024
Balance in cash flow hedges and net investment hedgesBalance in hedge cost reserve
Cash flow hedges
Interest risk
Interest rate swaps
¥4,063 ¥— 
Forward interest rate
(19,283)— 
Currency and interest risk
Cross currency interest rate swaps
(52,236)(15,930)
Currency risk
Hedge related to acquisition
3,560 — 
Net investment hedges
Foreign currency denominated bonds and loans344,866 — 
    Forward exchange contracts189,796 — 
JPY (millions)
For the year ended March 31, 2024
Amounts recognized in OCIAmount reclassified to profit or loss
Change in fair value of hedging instrumentsHedging costsCash flow hedgeHedging costsLine item in which reclassification adjustment is included
Cash flow hedges
Interest risk
Interest rate swaps¥4,098 ¥— ¥(2,492)¥— Finance income
Forward interest rate 387 — 2,349 — Finance expenses
Currency and interest risk
Cross currency interest rate swaps
166,574 12,392 (137,122)(2,024)Finance income and Finance expenses
Net investment hedges
Foreign currency denominated bonds and loans 169,111 — — — 
 Forward exchange contracts109,212 — — — 

The following tables represent the items designated as hedging instruments, amounts within other components of equity related to items designated as hedged items and amounts of changes in fair value of hedging instruments recorded in other comprehensive income and the amounts reclassified from the hedging reserve to profit or loss as of and for the year ended March 31, 2025:
JPY (millions)
As of March 31, 2025
NotionalCarrying amount – assetsCarrying amount – liabilitiesLine item in the statement of financial position where hedging instrument is includedAverage rate used for the fair value of the hedging instrument
Cash flow hedges
Interest risk
Interest rate swaps
JPY 130,000 million1,412 — Other financial assets1.04 %
Forward interest rate
JPY 50,000 million119 37 Other financial assets /liabilities1.32 %
USD 1,000 million650 7 Other financial asset/liability4.20 %
Currency and interest risk
Cross currency interest rate swaps
USD 5,750 million68,154 — Other financial assets
134.62 JPY
(0.11)%
Net investment hedges
Foreign currency denominated bonds and loansUSD 6,506 million— 969,495 Bonds and loans
EUR 6,632 million— 1,070,017 Bonds and loans
Forward exchange contractsUSD 863 million1,673 — Other financial assets
EUR 1,000 million — 175 Other financial liabilities
JPY (millions)
As of March 31, 2025
Balance in cash flow hedges and net investment hedgesBalance in hedge cost reserve
Cash flow hedges
Interest risk
Interest rate swaps
¥1,010 ¥— 
Forward interest rate
(15,795)— 
Currency and interest risk
Cross currency interest rate swaps
(53,627)(7,967)
Currency risk
Hedge related to acquisition
3,560 — 
Net investment hedges
Foreign currency denominated bonds and loans324,759 — 
    Forward exchange contracts203,262 — 
JPY (millions)
For the year ended March 31, 2025
Amounts recognized in OCIAmount reclassified to profit or loss
Change in fair value of hedging instrumentsHedging costsCash flow hedgeHedging costsLine item in which reclassification adjustment is included
Cash flow hedges
Interest risk
Interest rate swaps¥2,037 ¥— ¥(6,415)¥— Finance income
Forward interest rate 2,301 — 2,317 — Finance expenses
Currency and interest risk
Cross currency interest rate swaps
(711)18,663 (2,355)(7,350)Finance income and Finance expenses
Net investment hedges
Foreign currency denominated bonds and loans (19,662)— — — 
 Forward exchange contracts13,466 — — — 
Schedule of Age of Trade Receivables that are Past Due but not Impaired and Analysis of Impairment Analysis
The following represents the carrying amount of the trade receivables categorized by due date and the analysis of impairment loss allowance as of March 31, 2024 and 2025:
JPY (millions) except for percentage
As of March 31, 2024
Amount past due
CurrentWithin 30
days		Over 30 days but within 60 daysOver 60 days but within 90 daysOver 90 days but within one yearOver one
year		Total
Gross carrying amount¥527,383 ¥34,960 ¥12,645 ¥3,956 ¥21,492 ¥20,379 ¥620,815 
Impairment loss allowance(2,482)(107)(143)(99)(450)(5,095)(8,376)
Net carrying amount524,901 34,853 12,502 3,857 21,042 15,284 612,439 
Weighted average loss rate (%)0.5 %0.3 %1.1 %2.5 %2.1 %25.0 %1.3 %
JPY (millions) except for percentage
As of March 31, 2025
Amount past due
CurrentWithin 30
days		Over 30 days but within 60 daysOver 60 days but within 90 daysOver 90 days but within one yearOver one
year		Total
Gross carrying amount¥585,910 ¥28,481 ¥9,162 ¥5,605 ¥19,894 ¥12,127 ¥661,178 
Impairment loss allowance(1,965)(299)(459)(505)(2,171)(4,364)(9,763)
Net carrying amount583,945 28,181 8,702 5,100 17,723 7,763 651,414 
Weighted average loss rate (%)0.3 %1.1 %5.0 %9.0 %10.9 %36.0 %1.5 %
Summary of Increase (Decrease) in Loss Allowance for Trade Receivables
The following is a summary of the change in the impairment loss allowance for trade receivables for the years ended March 31, 2024 and 2025. The impairment loss allowance recognized for other than trade receivables is immaterial.
JPY (millions)
Bad debt provision
calculated by simplified
approach		Bad debt provision
recognized to credit-
impaired financial assets		Total
As of April 1, 2023
¥3,327 ¥4,029 ¥7,356 
Increases857 561 1,419 
Decreases (written off)(437)(377)(814)
Decreases (reversed)(324)(231)(555)
Foreign currency translation differences410 561 971 
As of March 31, 2024
¥3,833 ¥4,543 ¥8,376 
Increases3,249 550 3,799 
Decreases (written off)(1,590)(391)(1,981)
Decreases (reversed)(258)(56)(314)
Foreign currency translation differences(26)(91)(117)
As of March 31, 2025
¥5,207 ¥4,556 ¥9,763 
Schedule of Derivative Financial Liabilities by Maturity
The table below presents the balances of financial liabilities by maturity. The total contract amount below reflects cash flows presented on an undiscounted cash flow basis, including interest expense. The amounts disclosed as of March 31, 2024 and 2025 are undiscounted cash flows using the respective spot foreign exchange rates as of March 31, 2024 and 2025.
JPY (millions)
Carrying amountTotalWithin one yearBetween one and two yearsBetween two and three yearsBetween three and four yearsBetween four and five yearsMore than five years
As of March 31, 2024
Bonds and loans
Bonds¥4,092,879 ¥5,090,592 ¥913,282 ¥206,481 ¥774,784 ¥185,176 ¥326,949 ¥2,683,919 
Loans750,873 805,847 66,983 100,467 113,605 347,612 76,162 101,019 
Trade and other payables547,521 547,521 547,521 — — — — — 
Lease liabilities619,639 900,755 66,208 60,944 55,831 53,459 51,235 613,078 
Derivative liabilities25,108 27,590 16,547 762 1,053 1,113 1,096 7,019 
Derivative assets(120,223)(400,354)(56,538)(40,327)(39,186)(73,404)(35,218)(155,681)
As of March 31, 2025
Bonds and loans
Bonds¥4,190,632 ¥5,635,859 ¥499,779 ¥570,054 ¥216,517 ¥355,414 ¥1,046,745 ¥2,947,350 
Loans324,633 334,907 161,958 1,837 1,903 76,945 41,495 50,769 
Trade and other payables475,541 475,541 475,541 — — — — — 
Lease liabilities573,325 825,819 64,443 57,426 54,117 50,974 49,114 549,744 
Derivative liabilities16,528 18,043 7,766 1,078 1,047 1,013 1,081 6,057 
Derivative assets(84,369)(269,425)(35,404)(29,400)(29,428)(30,556)(18,240)(126,397)
Schedule of Non-Derivative Financial Liabilities by Maturity
The table below presents the balances of financial liabilities by maturity. The total contract amount below reflects cash flows presented on an undiscounted cash flow basis, including interest expense. The amounts disclosed as of March 31, 2024 and 2025 are undiscounted cash flows using the respective spot foreign exchange rates as of March 31, 2024 and 2025.
JPY (millions)
Carrying amountTotalWithin one yearBetween one and two yearsBetween two and three yearsBetween three and four yearsBetween four and five yearsMore than five years
As of March 31, 2024
Bonds and loans
Bonds¥4,092,879 ¥5,090,592 ¥913,282 ¥206,481 ¥774,784 ¥185,176 ¥326,949 ¥2,683,919 
Loans750,873 805,847 66,983 100,467 113,605 347,612 76,162 101,019 
Trade and other payables547,521 547,521 547,521 — — — — — 
Lease liabilities619,639 900,755 66,208 60,944 55,831 53,459 51,235 613,078 
Derivative liabilities25,108 27,590 16,547 762 1,053 1,113 1,096 7,019 
Derivative assets(120,223)(400,354)(56,538)(40,327)(39,186)(73,404)(35,218)(155,681)
As of March 31, 2025
Bonds and loans
Bonds¥4,190,632 ¥5,635,859 ¥499,779 ¥570,054 ¥216,517 ¥355,414 ¥1,046,745 ¥2,947,350 
Loans324,633 334,907 161,958 1,837 1,903 76,945 41,495 50,769 
Trade and other payables475,541 475,541 475,541 — — — — — 
Lease liabilities573,325 825,819 64,443 57,426 54,117 50,974 49,114 549,744 
Derivative liabilities16,528 18,043 7,766 1,078 1,047 1,013 1,081 6,057 
Derivative assets(84,369)(269,425)(35,404)(29,400)(29,428)(30,556)(18,240)(126,397)
Schedule of Reconciliation of Liabilities Arising from Financing Activities
Reconciliation of liabilities arising from financing activities
JPY (millions)
BondsLong-term loansShort-term loansLease liabilitiesDerivative assets used for hedge of debtsDerivative liabilities used for hedge of debtsTotal
As of April 1, 2023
¥3,658,314 ¥723,772 ¥256 ¥479,351 ¥(55,223)¥14,179 ¥4,820,649 
Cash flows from financing activities
Net increase (decrease) in short-term
loans and commercial papers		277,000 — — — — — 277,000 
Proceeds from long-term loans
— 100,000 — — — — 100,000 
Repayments of long-term loans— (100,351)— — — — (100,351)
Repayments of bonds(220,550)— — — — — (220,550)
Proceeds from the settlement of cross currency interest rate swaps related to bonds
— — — — 60,063 — 60,063 
Repayments of lease liabilities— — — (54,586)— — (54,586)
Interest paid— — — (20,826)— — (20,826)
Non-cash items
Foreign exchange movement369,442 27,686 39 58,169 — — 455,336 
Change in fair value— — — — (100,207)(14,179)(114,386)
New, amended and terminated leases— — — 136,705 — — 136,705 
Others8,673 (485)(44)20,826 — — 28,970 
As of March 31, 2024
¥4,092,879 ¥750,622 ¥251 ¥619,639 ¥(95,368)¥— ¥5,368,024 

JPY (millions)
BondsLong-term loansShort-term loansLease liabilitiesDerivative assets used for hedge of debtsDerivative liabilities used for hedge of debtsTotal
As of April 1, 2024
¥4,092,879 ¥750,622 ¥251 ¥619,639 ¥(95,368)¥— ¥5,368,024 
Cash flows from financing activities
Net increase (decrease) in short-term
loans and commercial papers		(47,000)— 74,490 — — — 27,490 
Proceeds from long-term loans— 90,000 — — — — 90,000 
Repayments of long-term loans— (587,246)— — — — (587,246)
Proceeds from bonds934,460 — — — — — 934,460 
Repayments of bonds(733,844)— — — — — (733,844)
Proceeds from the settlement of cross currency interest rate swaps related to bonds and loans
— — — — 46,880 — 46,880 
Repayments of lease liabilities— — — (45,174)— — (45,174)
Interest paid— — — (24,511)— — (24,511)
Non-cash items
Foreign exchange movement(62,248)(3,603)(0)(8,892)— — (74,744)
Change in fair value— — — — (19,666)— (19,666)
New, amended and terminated leases— — — 7,752 — — 7,752 
Others6,385 239 (119)24,511 — — 31,016 
As of March 31, 2025
¥4,190,632 ¥250,012 ¥74,621 ¥573,325 ¥(68,154)¥— ¥5,020,436 
Others includes an increase in debts due to application of amortized cost method.