v3.26.1
Goodwill and intangible assets (Tables)
 12 Months Ended
Mar. 31, 2026
Goodwill [Line Items]  
Changes in Goodwill
The changes in Goodwill during the fiscal years ended March 31, 2024, 2025 and 2026 are as follows:
 
    
2024
     
2025
    
2026
  
                     
    
(in millions of yen)
  
Balance at beginning of fiscal year
      92,928        164,458       163,593  
Goodwill acquired
      66,980
(1)
 		      —        45,109
(2)
 
Foreign exchange translation
      4,550        (865 )      4,600  
Balance at end of fiscal year
      164,458        163,593       213,302  
  
 
 
     
 
 
    
 
 
  
Gross amount of goodwill
(
3
)
      235,563        233,960       284,181  
Accumulated impairment losses
      71,105        70,367       70,880  
 
Notes:
(1)
For the fiscal year ended March 31, 2024, Goodwill acquired is entirely related to the acquisition of Greenhill & Co., Inc.
(2)
For the fiscal year ended March 31, 2026, Goodwill acquired is mainly related to the acquisition of UPSIDER Holdings, Inc.
(3)
Goodwill is recorded at a designated reporting unit level for the purpose of assessing impairment. Goodwill is not allocated to the reportable segments in Note 30 “Business segment information.”
Gross Carrying Amount, Accumulated Amortization and Net Carrying Amount of Intangible Assets
The table below presents the gross carrying amount, accumulated amortization and net carrying amount of intangible assets at March 31, 2025 and 2026:
 
    
2025
     
2026
  
    
Gross

carrying

amount
     
Accumulated

amortization
     
Net

carrying

amount
     
Gross

carrying

amount
     
Accumulated

amortization
     
Net

carrying

amount
  
                                           
    
(in millions of yen)
  
Intangible assets subject to amortization:
                  
Customer relationships
(Note)
      135,756        109,570        26,186        150,652        117,197        33,455  
Other
      7,498        5,131        2,366        6,988        5,054        1,934  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
Total
      143,254        114,702        28,552        157,640        122,251        35,389  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
Intangible assets not subject to amortization:
                  
Total
      6,920        —         6,920        6,831        —        6,831  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
Total
      150,173        114,702        35,472        164,471        122,251        42,220  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
 
Note:
Customer relationships were mainly acquired in connection with the merger of MHSC and Shinko on May 7, 2009 and the integration among asset management companies on October 1, 2016. See Note 1 “Basis of presentation and summary of significant accounting policies” for further information.
Estimated Aggregate Amortization Expense in Respect of Intangible Assets
The table below presents the estimated aggregate amortization expense in respect of intangible assets for the next five years:
 
    
(in millions of yen)
  
Fiscal year ending March 31:
   
2027
      7,770  
2028
      4,799  
2029
      4,372  
2030
      3,971  
2031
      3,306