Employee Benefits (Tables)

12 Months Ended

Mar. 31, 2026

Summary of Amounts Related to Defined Benefit Pension Plans Recognized in Consolidated Statements of Income


	JPY (millions) For the Year Ended March 31
	2024		2025		2026
Japan	¥	2,741	¥	4,182	¥	2,139
Foreign	15,956		13,925		17,871
Defined benefit costs	¥	18,697	¥	18,106	¥	20,011

Summary of Amounts Related to Defined Benefit Pension Plans Recognized in Consolidated Statements of Financial Position


	JPY (millions) As of March 31, 2025
	Japan		Foreign		Total
Present value of defined benefit obligations	¥	130,864	¥	253,624	¥	384,488
Fair value of plan assets	221,422		125,701		347,123
Effect of asset ceiling	78,717		—		78,717
Net defined benefit liabilities (assets)	¥	(11,840)	¥	127,922	¥	116,083

Consolidated statements of financial position
Net defined benefit liabilities	¥	7,462	¥	127,967	¥	135,429
Net defined benefit assets*	19,302		44		19,346
Net amount of liabilities (assets) recognized in the consolidated statements of financial position	¥	(11,840)	¥	127,922	¥	116,083

	JPY (millions) As of March 31, 2026
	Japan		Foreign		Total
Present value of defined benefit obligations	¥	116,648	¥	303,505	¥	420,153
Fair value of plan assets	¥	224,045	¥	166,940	¥	390,985
Effect of asset ceiling	98,399		8		98,407
Net defined benefit liabilities (assets)	¥	(8,998)	¥	136,573	¥	127,576

Consolidated statements of financial position
Net defined benefit liabilities	¥	7,047	¥	136,637	¥	143,683
Net defined benefit assets	16,044		63		16,108
Net amount of liabilities (assets) recognized in the consolidated statements of financial position	¥	(8,998)	¥	136,573	¥	127,576

Summary of Changes in Present Value of the Defined Benefit Obligations

A summary of changes in present value of the defined benefit obligations for the periods presented is as follows:


	JPY (millions) For the Year Ended March 31, 2025
	Japan		Foreign		Total
At beginning of the year	¥	143,712	¥	301,078	¥	444,790
Current service cost	2,918		12,281		15,199
Interest cost	2,448		9,170		11,618
Remeasurement of defined benefit pension plans
From changes in demographic assumptions	40		37		77
From changes in financial assumptions	(7,622)		(3,952)		(11,574)
Experience adjustments	696		7,006		7,701
Past service cost	1,535		(2,731)		(1,196)
Settlement*	—		(57,537)		(57,537)
Benefits paid	(12,701)		(17,053)		(29,754)
Contributions by the employees	—		5,053		5,053
Effect of business combinations and disposals	(161)		(95)		(256)
Foreign currency translation differences	—		366		366
At end of the year	¥	130,864	¥	253,624	¥	384,488

	JPY (millions) For the Year Ended March 31, 2026
	Japan		Foreign		Total
At beginning of the year	¥	130,864	¥	253,624	¥	384,488
Current service cost	2,370		13,117		15,486
Interest cost	3,209		6,978		10,187
Remeasurement of defined benefit pension plans
From changes in demographic assumptions	7		(3,977)		(3,971)
From changes in financial assumptions	(9,507)		(4,149)		(13,655)
Experience adjustments	(900)		6,488		5,588


Benefits paid	(9,394)		(14,412)		(23,807)
Contributions by the employees	—		5,978		5,978

Foreign currency translation differences	—		39,859		39,859
At end of the year	¥	116,648	¥	303,505	¥	420,153

* The defined benefit obligation for the fiscal year ended March 31, 2025, decreased due to the implementation of a pension buyout for a certain retirement pension plan with participants in multiple U.S. subsidiaries.

Changes in effect of asset ceiling for the periods presented are as follows:


	JPY (millions) For the Year Ended March 31
	2025		2026
Balance at beginning of the year	¥	63,422	¥	78,717
Interest income	1,059		1,897
Remeasurement Changes in effect of asset ceiling	14,237		17,792
Balance at end of the year	¥	78,717	¥	98,407

Summary of Significant Actuarial Assumptions Used to Determine Present Value

Significant actuarial assumptions used to determine the present value are as follows:


	Discount rate		Future salary increases
As of March 31, 2025
Japan	2.4	%	—
Foreign	2.5	%	3.0	%
As of March 31, 2026
Japan	3.5	%	—
Foreign	2.5	%	2.8	%

Schedule of Sensitivity Analysis for Actuarial Assumptions

A 0.5% change in these actuarial assumptions would affect the present value of defined benefit obligations at the end of the reporting period, while holding all other assumptions constant, by the amounts shown below:


	JPY (millions)
	Discount Rate			Future Salary Increases
	Change in assumption		Impact	Change in assumption		Impact
As of March 31, 2025
Japan	+0.50	%	(7,178)	+0.50	%	—
	-0.50	%	7,914	-0.50	%	—
Foreign	+0.50	%	(14,452)	+0.50	%	4,871
	-0.50	%	16,049	-0.50	%	(4,397)
As of March 31, 2026
Japan	+0.50%		(5,919)	+0.50%		—
	-0.50	%	6,540	-0.50	%	—
Foreign	+0.50%		(15,920)	+0.50%		5,668
	-0.50	%	17,903	-0.50	%	(5,092)

Schedule of Changes in Fair Value of Plan Assets and Breakdown by Asset Class

A summary of changes in fair value of plan assets for the periods presented is as follows:


	JPY (millions) For the Year Ended March 31
	2025		2026
Balance at beginning of the year	¥	391,743	¥	347,123
Interest income on plan assets	8,574		7,560
Remeasurement of defined benefit plans Return on plan assets	1,164		8,135
Contributions by the employer	18,845		15,417
Contributions by the employees	5,053		5,978
Settlement*	(60,320)		—
Benefits paid	(18,826)		(15,914)

Foreign currency translation differences	890		22,686
Balance at end of the year	¥	347,123	¥	390,985

* Plan assets for the fiscal year ended March 31, 2025, decreased due to the implementation of a pension buyout for a certain retirement pension plan with participants in multiple U.S. subsidiaries.

The breakdown of fair value by asset class is as follows:


	JPY (millions) As of March 31
	2025				2026
	With quoted prices in active markets		No quoted prices in active markets		With quoted prices in active markets		No quoted prices in active markets
Equities:
Japan	¥	10,531	¥	2,315	¥	8,910	¥	1,857
Foreign	57,690		81,589		75,471		71,794
Bonds:
Japan	387		19,513		450		23,112
Foreign	33,014		33,246		38,696		31,580
Life insurance company general accounts	—		68,741		—		79,709

Cash and cash equivalent	11,070		—		16,727		—
Property	536		18,036		688		27,665
Other	1,104		9,350		4,316		10,010
Total plan assets	¥	114,332	¥	232,791	¥	145,259	¥	245,726

Summary of Major Employee Benefits Expenses other than Retirement Benefits

Major employee benefit expenses other than retirement benefits for each fiscal year are as follows:


	JPY (millions) For the Year Ended March 31
	2024		2025		2026
Salary	¥	688,316	¥	701,775	¥	711,159
Bonuses	161,821		174,576		138,442
Other	274,094		266,491		273,240