Investor Presentaiton
Unrealized Gains (Losses) on Financial Instruments
1. Summary
2. How to Increase
Corporate Value
3. Appendix
4. Financial Data
Financial Results
Asset
Management
Σ Business
Governance
Net unrealized losses on financial instruments (available-for-sale) after taking into consideration gains (losses) from hedge accounting were
JPY 556.4bn as of September 30, 2023 (before application of tax effect accounting), decreasing by JPY 770.4bn from March 31, 2023.
Unrealized gains decreased mainly as a result of rising domestic and overseas interest rates.
(trillion yen)
JGBs
Investment trusts
Others
Foreign bonds
Domestic stocks
Total
Available-for-sale Securities (Non-consolidated)
Available-for-sale
As of Sep. 30 2023
Amount on the
balance sheet /
Notional amount
As of Sep. 30, 2023
Net unrealized
gains (losses) /
Net deferred gains
(losses)
(billion yen)
VS
Mar. 31,
2023
(189.8) (1)
922.2
Main drivers of
increase and decrease
Due to rising domestic interest rates
VS
Mar. 31,
2023
113,600.5
834.4
927.4
Securities (a)
107,285.5
1,084.2
2,138.4
Japanese government
22,673.0
(399.1)
bonds
1.2
10
204
0.01.2
1.4
0.0
10
1.0
2.6
(0.3)
0.0
0.1
1.4
州
(1.6)
(0.0)
(3.2)
(0.4)
(2.1)
0.9
Foreign bonds
22,560.9
195.6
0.3
Investment trusts'
53,740.2
1,630.0
1.1
Others
8,311.3
(342.2)
2.7
Effect of fair value
(949.0) (1) (525.2)!
2,769.9 (2) 1,293.8
365.7 (3) 181.7
(48.2) (28.0)
(2,226.4) (4) (920.4)
0.2
hedge accounting (b)
(0.5)
Money held in trust (c)
6,314.9
(249.8)
1,015.5
(191.6)
(0.9)
(5)
Domestic stocks
1,471.4
(386.1)
Others
4,843.4
136.3
961.0 (5) (143.8)
54.4
On the asset side, unrealized gains due to
the positive impact of yen depreciation
exceed unrealized losses due to the
negative impact of rising long term overseas
interest rates. (currency hedges with (4) (6))
Improved unrealized losses on foreign
investment bonds due to tightening credit
spread and increased unrealized gains from
private equity funds
Decrease in stocks as a result of operations
for risk controls
(47.8)
(3.7)
Derivatives for
(4)(6)
which deferred hedge
17,767.2
(310.7)
(1,483.9) (6) (580.6)
As for currency hedging positions
accounting is applied (d)
(corresponding to (2)), unrealized losses due
to yen depreciation
Total (a) + (b) + (c) + (d)
(556.4) (770.4)
End
Mar.
End
Sep.
22
22
End
Mar.
23
End
Sep.
23
* Investment trusts are mainly invested in foreign bonds. Including unrealized gains on private equity funds (as of September 30, 2023, JPY 1,215.9bn;
as of March 31, 2023, JPY 1,050.0bn).
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