| Estimated Fair Value of Financial Instruments |
30. Estimated Fair Value of Financial Instruments The following information is provided to help readers gain an understanding of the relationship between carrying amounts of financial instruments reported in the Company’s consolidated balance sheets and the related market or fair value. The disclosures do not include net investment in leases, equity method investments, pension obligations and insurance contracts and reinsurance contracts except for those classified as investment contracts. March 31, 2025
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| Assets: |
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| Cash and cash equivalents |
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¥ |
1,206,573 |
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¥ |
1,206,573 |
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¥ |
1,206,573 |
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¥ |
0 |
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¥ |
0 |
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| Restricted cash |
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115,410 |
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115,410 |
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115,410 |
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0 |
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0 |
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| Installment loans (net of allowance for credit losses) |
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4,043,271 |
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4,018,629 |
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0 |
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42,940 |
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3,975,689 |
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| Equity securities*1 |
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418,690 |
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418,690 |
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137,014 |
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119,466 |
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162,210 |
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2,607,637 |
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2,607,637 |
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12,243 |
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2,377,740 |
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217,654 |
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| Other Assets: |
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| Time deposits |
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1,400 |
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1,400 |
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0 |
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1,400 |
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0 |
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| Derivative assets*2 |
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43,675 |
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43,675 |
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— |
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— |
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— |
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| Reinsurance recoverables (Investment contracts) |
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138,441 |
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126,480 |
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0 |
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0 |
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126,480 |
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| Liabilities: |
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| Short-term debt |
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¥ |
549,680 |
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¥ |
549,680 |
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¥ |
0 |
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¥ |
549,680 |
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¥ |
0 |
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| Deposits |
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2,280,597 |
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2,279,207 |
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0 |
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2,279,207 |
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0 |
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| Policy liabilities and Policy account balances (Investment contracts) |
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237,702 |
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214,937 |
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0 |
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0 |
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214,937 |
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| Long-term debt |
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5,733,118 |
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5,678,828 |
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0 |
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1,705,485 |
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3,973,343 |
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| Accounts payable (Contingent consideration) |
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15,259 |
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15,259 |
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0 |
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0 |
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15,259 |
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| Derivative liabilities*2 |
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35,543 |
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35,543 |
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— |
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— |
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— |
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| *1 |
The amount of ¥118,666 million of investment funds measured at net asset value per share is not included. |
| *2 |
It represents the amount after offset under counterparty netting of derivative assets and liabilities. For the information of input level before netting, see Note 2 “Fair Value Measurements.” | March 31, 2026
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| Assets: |
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| Cash and cash equivalents |
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¥ |
1,334,945 |
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¥ |
1,334,945 |
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¥ |
1,334,945 |
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¥ |
0 |
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¥ |
0 |
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| Restricted cash |
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116,154 |
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116,154 |
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116,154 |
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0 |
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0 |
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| Installment loans (net of allowance for credit losses) |
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4,118,777 |
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4,089,785 |
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0 |
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50,013 |
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4,039,772 |
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| Equity securities*1 |
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501,246 |
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501,246 |
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150,194 |
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120,456 |
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230,596 |
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2,526,416 |
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2,526,416 |
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7,278 |
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2,243,137 |
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276,001 |
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| Other Assets: |
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| Time deposits |
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1,924 |
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1,924 |
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0 |
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1,924 |
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0 |
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| Derivative assets*2 |
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73,633 |
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73,633 |
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— |
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— |
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— |
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| Reinsurance recoverables (Investment contracts) |
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307,733 |
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277,544 |
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0 |
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0 |
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277,544 |
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| Liabilities: |
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| Short-term debt |
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¥ |
572,235 |
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¥ |
572,235 |
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¥ |
0 |
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¥ |
572,235 |
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¥ |
0 |
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| Deposits |
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2,439,459 |
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2,449,230 |
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0 |
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2,449,230 |
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0 |
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| Policy liabilities and Policy account balances (Investment contracts) |
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390,523 |
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331,178 |
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0 |
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0 |
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331,178 |
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| Long-term debt |
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5,965,759 |
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5,889,035 |
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0 |
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1,777,695 |
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4,111,340 |
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| Accounts payable (Contingent consideration) |
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15,683 |
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15,683 |
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0 |
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0 |
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15,683 |
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| Derivative liabilities*2 |
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66,805 |
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66,805 |
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— |
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— |
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— |
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| *1 |
The amount of ¥168,854 million of investment funds measured at net asset value per share is not included. |
| *2 |
It represents the amount after offset under counterparty netting of derivative assets and liabilities. For the information of input level before netting, see Note 2 “Fair Value Measurements.” | Input level of fair value measurement If active market prices are available, fair value measurement is based on quoted active market prices and classified as Level 1. If active market prices are not available, fair value measurement is based on observable inputs other than quoted prices included within Level 1 such as quoted market prices of similar assets and classified as Level 2. If market prices are not available and there are no observable inputs, then fair value is estimated by using valuation models including discounted cash flow methodologies, commonly used option-pricing models and broker quotes and classified as Level 3, as the valuation models and broker quotes are based on inputs that are unobservable in the market.
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