| Property, plant and equipment |
13. Property, plant and equipment The changes in cost and accumulated depreciation and impairment losses are as follows:
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Vehicles and
equipment on
operating leases |
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| Balance as of April 1, 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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| |
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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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(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 |
) |
| |
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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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| |
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5,806 |
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122,961 |
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468,039 |
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3,657,892 |
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1,503,710 |
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5,758,408 |
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(2,901 |
) |
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(69,841 |
) |
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(615,221 |
) |
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(2,620,534 |
) |
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(44,327 |
) |
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(3,352,824 |
) |
Reclassification from construction in progress |
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57,729 |
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312,901 |
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882,157 |
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55 |
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(1,252,842 |
) |
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— |
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Foreign currency translation adjustments |
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27,751 |
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184,418 |
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865,647 |
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677,356 |
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89,663 |
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1,844,836 |
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| Transfer to assets held for sale |
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(165,526 |
) |
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(428,406 |
) |
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(698,884 |
) |
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(652 |
) |
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(15,502 |
) |
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(1,308,970 |
) |
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|
644 |
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(7,190 |
) |
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(13,603 |
) |
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(60,414 |
) |
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(157,040 |
) |
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(237,603 |
) |
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Balance as of March 31, 2026 |
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1,351,625 |
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6,284,907 |
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17,509,377 |
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9,705,647 |
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1,719,808 |
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36,571,364 |
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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, 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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— |
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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 |
) |
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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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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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(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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— |
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(219,752 |
) |
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(1,015,844 |
) |
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(980,258 |
) |
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— |
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(2,215,854 |
) |
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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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494 |
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59,041 |
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540,537 |
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745,050 |
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— |
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1,345,122 |
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Foreign currency translation adjustments |
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(262 |
) |
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(110,778 |
) |
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(671,336 |
) |
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(117,577 |
) |
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(63 |
) |
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(900,016 |
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| Transfer to assets held for sale |
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424 |
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260,039 |
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566,214 |
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4 |
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172 |
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826,852 |
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(794 |
) |
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(2,135 |
) |
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(16,190 |
) |
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1,273 |
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393 |
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(17,453 |
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| Balance as of March 31, 2026 . . |
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(7,065 |
) |
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(3,884,604 |
) |
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(13,759,061 |
) |
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(1,850,094 |
) |
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(3,175 |
) |
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(19,504,000 |
) |
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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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7,996,894 |
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9,644,572 |
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55,051 |
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61,076 |
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8,051,945 |
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9,705,647 |
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Less - Accumulated depreciation |
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(1,498,586 |
) |
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(1,850,094 |
) |
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Vehicles and equipment on operating leases, net |
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6,553,359 |
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7,855,554 |
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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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1,200,378 |
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1,403,807 |
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837,956 |
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923,554 |
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374,459 |
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407,306 |
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93,396 |
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105,642 |
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35,953 |
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40,106 |
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17,235 |
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20,762 |
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2,559,377 |
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2,901,178 |
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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 ¥4,664,376 million and ¥5,546,865 million, as of March 31, 2025 and 2026, respectively. Furthermore, these right of use assets were fully paid in cash at the time of acquisition, and since the increase in these right of use assets is equal to the cash outflow, no lease liabilities relating to these right of use assets are recognized. The additions and total cash outflows for these right of use assets for the years ended March 31, 2025 and 2026, were ¥2,909,058 million and ¥2,654,403 million, respectively. Depreciation expenses for these right of use assets for the years ended March 31, 2024, 2025 and 2026, were ¥612,569 million, ¥617,495 million and ¥658,046 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 ¥947,058 million, ¥1,008,634 million and ¥1,101,911 million for the years ended March 31, 2024, 2025 and 2026, respectively. Please see Note 14 about the status of lessee leases other than “Vehicles and equipment on operating leases, net”. |