| Accumulated Other Comprehensive Income (Loss) |
| 13. |
Accumulated Other Comprehensive Income (Loss) | During the six months ended September 30, 2026, the business of ORIX Bank, a former consolidated subsidiary of the Company, was classified as a discontinued operation. As a result, the amounts of reclassification adjustments included in net income from discontinued operation are presented separately from those from continuing operations, for both the current and prior periods. For further information on the discontinued operations, see Note 26 “Discontinued Operations.” Changes in each component of accumulated other comprehensive income (loss) attributable to ORIX Corporation Shareholders for the six months ended September 30, 2025 and 2026, are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Six months ended September 30, 2025 |
|
| |
|
Millions of yen |
|
| |
|
Net unrealized
gains (losses)
on investment
in securities |
|
|
Impact of
changes in
policy liability
discount rate |
|
|
Debt
valuation
adjustments |
|
|
Defined
benefit
pension plans |
|
|
Foreign
currency
translation
adjustments |
|
|
Net unrealized
gains (losses)
on derivative
instruments |
|
|
Accumulated
other
comprehensive
income (loss) |
|
Balance at March 31, 2025 |
|
¥ |
(403,914 |
) |
|
¥ |
416,124 |
|
|
¥ |
49 |
|
|
¥ |
14,791 |
|
|
¥ |
304,657 |
|
|
¥ |
9,591 |
|
|
¥ |
341,298 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net unrealized gains (losses) on investment in securities, net of tax of ¥33,944 million |
|
|
(83,351 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(83,351 |
) |
Reclassification adjustment included in net income, net of tax of ¥1,767 million |
|
|
(4,714 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(4,714 |
) |
Impact of changes in policy liability discount rate, net of tax of
¥(108,460) million |
|
|
|
|
|
|
311,459 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
311,459 |
|
Debt valuation adjustments, net of tax of
¥(78) million |
|
|
|
|
|
|
|
|
|
|
192 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
192 |
|
Reclassification adjustment included in net income, net of tax of ¥1 million |
|
|
|
|
|
|
|
|
|
|
(4 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(4 |
) |
Defined benefit pension plans, net of tax of
¥(2,580) million |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,716 |
|
|
|
|
|
|
|
|
|
|
|
5,716 |
|
Reclassification adjustment included in net income, net of tax of ¥69 million |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(171 |
) |
|
|
|
|
|
|
|
|
|
|
(171 |
) |
Foreign currency translation adjustments, net of tax of ¥14,315 million |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,701 |
|
|
|
|
|
|
|
1,701 |
|
Reclassification adjustment included in net income, net of tax of ¥3,134 million |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(6,689 |
) |
|
|
|
|
|
|
(6,689 |
) |
Net unrealized gains (losses) on derivative instruments, net of tax of ¥(13) million |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(3,585 |
) |
|
|
(3,585 |
) |
Reclassification adjustment included in net income, net of tax of ¥1,417 million |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(3,508 |
) |
|
|
(3,508 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total other comprehensive income (loss) |
|
|
(88,065 |
) |
|
|
311,459 |
|
|
|
188 |
|
|
|
5,545 |
|
|
|
(4,988 |
) |
|
|
(7,093 |
) |
|
|
217,046 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Transaction with noncontrolling interests |
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
28 |
|
|
|
0 |
|
|
|
28 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less: Other Comprehensive Income (Loss) Attributable to the Noncontrolling Interests |
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
(3 |
) |
|
|
(614 |
) |
|
|
(31 |
) |
|
|
(648 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less: Other Comprehensive Loss Attributable to the Redeemable Noncontrolling Interests |
|
|
(6 |
) |
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
402 |
|
|
|
0 |
|
|
|
396 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at September 30, 2025* |
|
¥ |
(491,973 |
) |
|
¥ |
727,583 |
|
|
¥ |
237 |
|
|
¥ |
20,339 |
|
|
¥ |
299,909 |
|
|
¥ |
2,529 |
|
|
¥ |
558,624 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| * |
As of September 30, 2025, net unrealized gains (losses) on investment in securities contained ¥(186) million (net of tax of ¥28 million ) of net unrealized gains (losses) on investment in securities related to available-for-sale debt securities with allowance for credit losses. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Six months ended September 30, 2026 |
|
| |
|
|
|
| |
|
|
|
|
Impact of
changes in
policy liability
discount rate |
|
|
Debt
valuation
adjustments |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Balance at March 31, 2026 |
|
¥ |
(618,351 |
) |
|
¥ |
715,382 |
|
|
¥ |
242 |
|
|
¥ |
31,953 |
|
|
¥ |
469,262 |
|
|
¥ |
6,622 |
|
|
¥ |
605,110 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net unrealized gains (losses) on investment in securities, net of tax of ¥36,078 million |
|
|
(103,812 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(103,812 |
) |
| Reclassification adjustment included in net income, net of tax of ¥3,290 million |
|
|
(8,207 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(8,207 |
) |
| Impact of changes in policy liability discount rate, net of tax of ¥(29,198) million |
|
|
|
|
|
|
83,880 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
83,880 |
|
| Debt valuation adjustments, net of tax of ¥(14) million |
|
|
|
|
|
|
|
|
|
|
34 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
34 |
|
| Reclassification adjustment included in net income, net of tax of ¥2 million |
|
|
|
|
|
|
|
|
|
|
(4 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(4 |
) |
| Defined benefit pension plans, net of tax of
¥(4,376) million |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9,055 |
|
|
|
|
|
|
|
|
|
|
|
9,055 |
|
| Reclassification adjustment included in net income, net of tax of ¥178 million |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(377 |
) |
|
|
|
|
|
|
|
|
|
|
(377 |
) |
| Foreign currency translation adjustments, net of tax of ¥(1,604) million |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(18,250 |
) |
|
|
|
|
|
|
(18,250 |
) |
| Reclassification adjustment included in net income, net of tax of ¥(599) million |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,158 |
|
|
|
|
|
|
|
2,158 |
|
| Net unrealized gains (losses) on derivative instruments, net of tax of ¥2,867 million |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1,726 |
) |
|
|
(1,726 |
) |
| Reclassification adjustment included in net income, net of tax of ¥(1,590) million |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,134 |
|
|
|
5,134 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total other comprehensive income (loss) |
|
|
(112,019 |
) |
|
|
83,880 |
|
|
|
30 |
|
|
|
8,678 |
|
|
|
(16,092 |
) |
|
|
3,408 |
|
|
|
(32,115 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Transaction with noncontrolling interests |
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Less: Other Comprehensive Income (Loss) Attributable to the Noncontrolling Interests |
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
(12) |
|
|
|
(145 |
) |
|
|
100 |
|
|
|
(57 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Less: Other Comprehensive Loss Attributable to the Redeemable Noncontrolling Interests |
|
|
(6 |
) |
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
(822) |
|
|
|
0 |
|
|
|
(828) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Balance at September 30, 2026* |
|
¥ |
(730,364 |
) |
|
¥ |
799,262 |
|
|
¥ |
272 |
|
|
¥ |
40,643 |
|
|
¥ |
454,137 |
|
|
¥ |
9,930 |
|
|
¥ |
573,880 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| * |
As of September 30, 2026, net unrealized gains (losses) on investment in securities contained ¥(145) million (net of tax of ¥47 million) of net unrealized gains (losses) on investment in securities related to debt securities with allowance for credit losses. | Amounts reclassified to net income from accumulated other comprehensive income (loss) in the six months ended September 30, 2025 and 2026 are as follows:
|
|
|
|
|
|
|
| |
|
Six months ended September 30, 2025 |
| Details about accumulated other comprehensive income components |
|
Reclassification
adjustment included in
net income |
|
|
|
| |
Millions of yen |
|
|
Consolidated statements of income caption |
| Net unrealized gains (losses) on investment in securities |
|
|
|
|
|
|
| Sales of debt securities |
|
¥ |
189 |
|
|
Gains on investment securities and dividends |
| Sales of debt securities |
|
|
571 |
|
|
Life insurance premiums and related investment income |
| Sales of debt securities |
|
|
(4,068 |
) |
|
Income (Loss) from Discontinued Operations before Income Taxes |
| Amortization of debt securities |
|
|
3,731 |
|
|
Finance revenues |
| Amortization of debt securities |
|
|
6,240 |
|
|
Life insurance premiums and related investment income |
| Amortization of debt securities |
|
|
(65 |
) |
|
Income (Loss) from Discontinued Operations before Income Taxes |
| Others |
|
|
(117 |
) |
|
Write-downs of securities |
|
|
|
|
|
|
|
|
|
|
6,481 |
|
|
Total before income tax |
|
|
|
(1,767 |
) |
|
Income tax (expense) or benefit |
|
|
|
|
|
|
|
|
|
¥ |
4,714 |
|
|
Net of tax |
|
|
|
|
|
|
|
| Debt valuation adjustments |
|
|
|
|
|
|
| Fulfillment of policy liabilities and amortization of policy account balances |
|
¥ |
5 |
|
|
Life insurance costs |
|
|
|
|
|
|
|
|
|
|
5 |
|
|
Total before income tax |
|
|
|
(1 |
) |
|
Income tax (expense) or benefit |
|
|
|
|
|
|
|
|
|
¥ |
4 |
|
|
Net of tax |
|
|
|
|
|
|
|
| Defined benefit pension plans |
|
|
|
|
|
|
| Amortization of prior service credit |
|
¥ |
169 |
|
|
See Note 16 “Pension Plans” |
| Amortization of net actuarial loss |
|
|
71 |
|
|
See Note 16 “Pension Plans” |
| Amortization of transition obligation |
|
|
0 |
|
|
See Note 16 “Pension Plans” |
|
|
|
|
|
|
|
|
|
|
240 |
|
|
Total before income tax |
|
|
|
(69 |
) |
|
Income tax (expense) or benefit |
|
|
|
|
|
|
|
|
|
¥ |
171 |
|
|
Net of tax |
|
|
|
|
|
|
|
| Foreign currency translation adjustments |
|
|
|
|
|
|
| Foreign exchange contracts |
|
¥ |
2,781 |
|
|
Gains on sales of subsidiaries and equity method investments and liquidation losses, net/Interest expense |
| Sales or liquidation |
|
|
7,042 |
|
|
Gains on sales of subsidiaries and equity method investments and liquidation losses, net |
|
|
|
|
|
|
|
|
|
|
9,823 |
|
|
Total before income tax |
|
|
|
(3,134 |
) |
|
Income tax (expense) or benefit |
|
|
|
|
|
|
|
|
|
¥ |
6,689 |
|
|
Net of tax |
|
|
|
|
|
|
|
| Net unrealized gains (losses) on derivative instruments |
|
|
|
|
|
|
| Interest rate swap agreements |
|
¥ |
121 |
|
|
Interest expense |
| Foreign exchange contracts |
|
|
3,072 |
|
|
Interest expense/Other (income) and expense |
| Foreign currency swap agreements |
|
|
1,782 |
|
|
Interest expense/Other (income) and expense |
| Options held/written and other |
|
|
(50 |
) |
|
Life insurance premiums and related investment income |
|
|
|
|
|
|
|
|
|
|
4,925 |
|
|
Total before income tax |
|
|
|
(1,417 |
) |
|
Income tax (expense) or benefit |
|
|
|
|
|
|
|
|
|
¥ |
3,508 |
|
|
Net of tax |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Six months ended September 30, 2026 |
Details about accumulated other comprehensive income components |
|
|
|
|
|
| |
|
|
|
Consolidated statements of income caption |
Net unrealized gains (losses) on investment in securities |
|
|
|
|
|
|
Sales of debt securities |
|
¥ |
570 |
|
|
Gains on investment securities and dividends |
Sales of debt securities |
|
|
1,534 |
|
|
Life insurance premiums and related investment income |
Amortization of debt securities |
|
|
8,460 |
|
|
Finance revenues |
Amortization of debt securities |
|
|
8,760 |
|
|
Life insurance premiums and related investment income |
Amortization of debt securities |
|
|
(25 |
) |
|
Income (Loss) from Discontinued Operations before Income Taxes |
Sales or liquidation |
|
|
(7,802 |
) |
|
Income (Loss) from Discontinued Operations before Income Taxes |
|
|
|
|
|
|
|
|
|
|
11,497 |
|
|
Total before income tax |
|
|
|
(3,290 |
) |
|
Income tax (expense) or benefit |
|
|
|
|
|
|
|
|
|
¥ |
8,207 |
|
|
Net of tax |
|
|
|
|
|
|
|
Debt valuation adjustments |
|
|
|
|
|
|
Fulfillment of policy liabilities and amortization of policy account balances |
|
¥ |
6 |
|
|
Life insurance costs |
|
|
|
|
|
|
|
|
|
|
6 |
|
|
Total before income tax |
|
|
|
(2 |
) |
|
Income tax (expense) or benefit |
|
|
|
|
|
|
|
|
|
¥ |
4 |
|
|
Net of tax |
|
|
|
|
|
|
|
Defined benefit pension plans |
|
|
|
|
|
|
Amortization of prior service credit |
|
¥ |
139 |
|
|
See Note 16 “Pension Plans” |
Amortization of net actuarial loss |
|
|
187 |
|
|
See Note 16 “Pension Plans” |
Settlements |
|
|
48 |
|
|
See Note 16 “Pension Plans” |
Sales or liquidation |
|
|
181 |
|
|
Gains on sales of subsidiaries and equity method investments and liquidation losses, net |
|
|
|
|
|
|
|
|
|
|
555 |
|
|
Total before income tax |
|
|
|
(178 |
) |
|
Income tax (expense) or benefit |
|
|
|
|
|
|
|
|
|
¥ |
377 |
|
|
Net of tax |
|
|
|
|
|
|
|
Foreign currency translation adjustments |
|
|
|
|
|
|
Foreign exchange contracts |
|
¥ |
(2,082 |
) |
|
Interest expense |
Sales or liquidation |
|
|
(675 |
) |
|
Gains on sales of subsidiaries and equity method investments and liquidation losses, net |
|
|
|
|
|
|
|
|
|
|
(2,757 |
) |
|
Total before income tax |
|
|
|
599 |
|
|
Income tax (expense) or benefit |
|
|
|
|
|
|
|
|
|
¥ |
(2,158 |
) |
|
Net of tax |
|
|
|
|
|
|
|
Net unrealized gains (losses) on derivative instruments |
|
|
|
|
|
|
Interest rate swap agreements |
|
¥ |
286 |
|
|
Interest expense |
Foreign currency swap agreements |
|
|
(6,858 |
) |
|
Interest expense/Other (income) and expense |
Options held/written and other |
|
|
(152 |
) |
|
Life insurance premiums and related investment income |
|
|
|
|
|
|
|
|
|
|
(6,724 |
) |
|
Total before income tax |
|
|
|
1,590 |
|
|
Income tax (expense) or benefit |
|
|
|
|
|
|
|
|
|
¥ |
(5,134 |
) |
|
Net of tax |
|
|
|
|
|
|
|
|