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Investment Securities
12 Months Ended
Mar. 31, 2023
Text block [abstract]  
Investment Securities
9
INVESTMENT SECURITIES
The following table shows the amount of investment securities, which consist of debt instruments at amortized cost, debt instruments at fair value through other comprehensive income and equity instruments at fair value through other comprehensive income at March 31, 2023 and 2022.
 
    
At March 31,
 
    
2023
    
2022
 
               
    
(In millions)
 
Debt instruments at amortized cost:
                 
Domestic:
                 
Japanese government bonds
   ¥ 72,549      ¥ —    
Japanese municipal bonds
     93,044        25,741  
    
 
 
    
 
 
 
Total domestic
     165,593        25,741  
    
 
 
    
 
 
 
Foreign:
                 
Bonds issued by other governments and official institutions
(1)
     68,121        56,400  
Other debt instruments
     1,853        1,813  
    
 
 
    
 
 
 
Total foreign
     69,974        58,213  
    
 
 
    
 
 
 
Total debt instruments at amortized cost
   ¥ 235,567      ¥ 83,954  
    
 
 
    
 
 
 
Debt instruments at fair value through other comprehensive income:
                 
Domestic:
                 
Japanese government bonds
   ¥ 9,576,298      ¥ 15,774,197  
Japanese municipal bonds
     1,087,625        1,145,496  
Japanese corporate bonds
     946,726        948,992  
Other debt instruments
     312        311  
    
 
 
    
 
 
 
Total domestic
     11,610,961        17,868,996  
    
 
 
    
 
 
 
Foreign:
                 
U.S. Treasury and other U.S. government agency bonds
     5,232,456        5,681,789  
Bonds issued by other governments and official institutions
(1)
     2,991,272        2,997,588  
Mortgage-backed securities
     2,379,250        1,006,051  
Other debt instruments
     597,484        512,542  
    
 
 
    
 
 
 
Total foreign
     11,200,462        10,197,970  
    
 
 
    
 
 
 
Total debt instruments at fair value through other comprehensive income
   ¥ 22,811,423      ¥ 28,066,966  
    
 
 
    
 
 
 
Equity instruments at fair value through other comprehensive income:
                 
Domestic equity instruments
   ¥ 3,587,964      ¥ 3,658,591  
Foreign equity instruments
     960,644        939,894  
    
 
 
    
 
 
 
Total equity instruments at fair value through other comprehensive income
   ¥ 4,548,608      ¥ 4,598,485  
    
 
 
    
 
 
 
Total investment securities
   ¥ 27,595,598      ¥ 32,749,405  
    
 
 
    
 
 
 
 
(1)
Bonds issued by governments and official institutions excluding U.S. Treasury and other U.S. government agencies.
Designation of equity instruments as at fair value through other comprehensive income
The Group designates equity instruments, which are issued by its customers and not held for trading, as at fair value through other comprehensive income. Those equity instruments are held to establish, maintain, and strengthen business ties with those customers. Equity instruments at fair value through other comprehensive income at March 31, 2023 and 2022 consisted of the following:
 
    
At March 31,
 
    
2023
    
2022
 
               
    
(In millions)
 
Listed
   ¥ 3,581,167      ¥ 3,659,168  
Unlisted
     967,441        939,317  
    
 
 
    
 
 
 
Total equity instruments at fair value through other comprehensive income
   ¥ 4,548,608      ¥ 4,598,485  
    
 
 
    
 
 
 
The investments in the listed equity instruments at fair value through other comprehensive income at March 31, 2023 and 2022 mainly consisted of the following:
 
 
  
At March 31,

2023
 
 
  
(In millions)
 
TOYOTA MOTOR CORPORATION
   ¥ 365,984  
DAIKIN INDUSTRIES, LTD.
     201,068  
Ares Management Corporation
     187,804  
Kotak Mahindra Bank Limited
     92,645  
KUBOTA CORPORATION
     71,976  
SBI Holdings, Inc.
     70,848  
DAIICHI SANKYO COMPANY, LIMITED
     66,048  
ITOCHU Corporation
     62,509  
Seven & i Holdings Co., Ltd.
     58,755  
FUJIFILM Holdings Corporation
     55,448  
Murata Manufacturing Co., Ltd.
     54,886  
MITSUI & CO., LTD.
     52,823  
East Japan Railway Company
     50,208  
ESR Group Limited
     49,130  
BRIDGESTONE CORPORATION
     48,303  
DAIWA HOUSE INDUSTRY CO., LTD.
     45,170  
Jefferies Financial Group Inc.
     44,505  
NIDEC CORPORATION
     41,515  
Central Japan Railway Company
     41,150  
NIPPON STEEL CORPORATION
     40,836  
SG HOLDINGS CO., LTD.
     40,670  
Asahi Group Holdings, Ltd.
     39,530  
Sumitomo Realty & Development Co., Ltd.
     35,104  
Mitsui O.S.K. Lines, Ltd.
     29,790  
Mitsui Fudosan Co., Ltd.
     29,179  
GMO Payment Gateway, Inc.
     28,468  
Shionogi & Co., Ltd.
     27,466  
KOITO MANUFACTURING CO., LTD.
     27,213  
MINEBEA MITSUMI Inc.
     25,671  
ASICS Corporation
     25,548  
Japan Exchange Group, Inc.
     24,807  
West Japan Railway Company
     24,447  
Sanrio Company, Ltd.
     24,150  
TOYOTA TSUSHO CORPORATION
     23,883  
    
At March 31,

2023
 
    
(In millions)
 
ASAHI KASEI CORPORATION
     23,533  
Stanley Electric Co., Ltd.
     23,499  
SHIMANO INC.
     22,840  
DAIFUKU CO., LTD.
     22,429  
TAISHO PHARMACEUTICAL HOLDINGS CO., LTD.
     22,240  
Makita Corporation
     19,026  
TORAY INDUSTRIES, INC.
     18,170  
Tokyo Electric Power Company Holdings, Incorporated
     16,994  
OMRON Corporation
     16,881  
Oji Holdings Corporation
     16,594  
Sekisui House, Ltd.
     16,265  
Chubu Electric Power Company, Incorporated
     15,680  
Sanwa Holdings Corporation
     15,629  
Sumitomo Metal Mining Co., Ltd.
     15,148  
KAJIMA CORPORATION
     13,733  
NISSIN FOODS HOLDINGS CO., LTD.
     12,821  
Others
     1,182,148  
    
 
 
 
Total listed equity instruments at fair value through other comprehensive income
   ¥ 3,581,167  
    
 
 
 
 
    
At March 31,

2022
 
    
(In millions)
 
TOYOTA MOTOR CORPORATION
   ¥ 432,660  
DAIKIN INDUSTRIES, LTD.
     201,690  
Ares Management Corporation
     167,592  
Kotak Mahindra Bank Limited
     93,193  
MITSUI & CO., LTD.
     85,420  
KUBOTA CORPORATION
     82,922  
ESR Cayman Limited
(1)
     78,076  
FUJIFILM Holdings Corporation
     70,355  
ITOCHU Corporation
     60,227  
NIDEC CORPORATION
     59,122  
SG HOLDINGS CO., LTD.
     58,262  
Seven & i Holdings Co., Ltd.
     57,162  
Murata Manufacturing Co., Ltd.
     55,412  
DAIWA HOUSE INDUSTRY CO., LTD.
     51,591  
East Japan Railway Company
     48,668  
Sumitomo Realty & Development Co., Ltd.
     46,640  
DAIICHI SANKYO COMPANY, LIMITED
     45,885  
BRIDGESTONE CORPORATION
     42,822  
Jefferies Financial Group Inc.
     42,222  
Central Japan Railway Company
     41,554  
Asahi Group Holdings, Ltd.
     35,813  
Shionogi & Co., Ltd.
     34,603  
Mitsui Fudosan Co., Ltd.
     34,015  
GMO Payment Gateway, Inc.
     31,470  
DAIFUKU CO., LTD.
     31,384  
Mitsui O.S.K. Lines, Ltd.
     30,780  
    
At March 31,

2022
 
    
(In millions)
 
NIPPON STEEL CORPORATION
     28,415  
SHIMANO INC.
     28,155  
Japan Exchange Group, Inc.
     28,095  
MINEBEA MITSUMI Inc.
     27,542  
KOITO MANUFACTURING CO., LTD.
     27,077  
ASAHI KASEI CORPORATION
     26,993  
TAISHO PHARMACEUTICAL HOLDINGS CO., LTD.
     22,885  
Makita Corporation
     22,825  
West Japan Railway Company
     22,808  
TOYOTA TSUSHO CORPORATION
     21,503  
Oji Holdings Corporation
     19,223  
Stanley Electric Co., Ltd.
     18,633  
Sumitomo Metal Mining Co., Ltd.
     18,491  
OMRON Corporation
     17,991  
Idemitsu Kosan Co., Ltd.
     17,357  
ASICS Corporation
     16,174  
BANDAI NAMCO Holdings Inc.
     15,514  
TORAY INDUSTRIES, INC.
     15,345  
Block, Inc.
     15,071  
Tokyo Electric Power Company Holdings, Incorporated
     14,479  
Sekisui House, Ltd.
     14,294  
Chubu Electric Power Company, Incorporated
     14,155  
IBIDEN CO., LTD.
     13,966  
CME Group Inc.
     13,738  
Others
     1,158,899  
    
 
 
 
Total listed equity instruments at fair value through other comprehensive income
   ¥ 3,659,168  
    
 
 
 
 
(1)
ESR Cayman Limited changed its trade name to ESR Group Limited on June 21, 2022.
Disposal of equity instruments at fair value through other comprehensive income
The Group sold equity instruments measured at fair value through other comprehensive income mainly in order to mitigate the impact of share price fluctuations on the Group’s financial base. The fair value of the equity instruments measured at fair value through other comprehensive income at the date of derecognition and the cumulative gain on disposal for the fiscal years ended March 31, 2023 and 2022 were as follows:
 
    
For the fiscal year ended
March 31,
 
    
2023
    
2022
 
               
    
(In millions)
 
Fair value of the equity instruments at fair value through other comprehensive income at the date of derecognition
   ¥ 205,216      ¥ 298,397  
Cumulative gain on disposal
     142,305        139,675  
The Group transferred the cumulative gain or loss related to the equity instruments that were derecognized or whose significant fair value decline reduced income tax expense for the current reporting period from “Other reserves” to “Retained earnings.”
The transferred amounts were ¥
112,235 million and ¥89,905 million for the fiscal years ended March 31, 2023 and 2022, respectively.