Overview of Borrowings and Bonds

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As of August 31, 2023

  Feb.
2021
Aug.
2021
Feb.
2022
Aug.
2022
Feb.
2023
Aug.
2023
Total interest-bearing debt (million yen) 297,717 297,637 297,637 294,537 292,087 292,087
LTV(based on total assets) (%)(note2) 43.5 43.5 43.6 43.1 42.9 43.1
Fixed-interest debt ratio (%)(note3) 90.4 93.0 93.0 93.6 94.2 93.8
Duration of Interest-bearing debt (year)(note4) 4.1 4.1 4.0 4.0 3.9 4.0
Average interest rate on fund procurement (%)(note5) 0.61 0.61 0.58 0.56 0.56 0.56
Average Financing Cost(%)(note6) 0.76 0.74 0.72 0.69 0.68 0.69
  • All figures for Interest-bearing debt is rounded down to the nearest whole number.
  • LTV (based on total assets) is calculated by dividing outstanding interest-bearing debt as of each period by total assets as of the same time. The figure is rounded to the nearest first decimal place.
  • "Fixed-interest debt ratio" is obtained by dividing Fixed-interest debts outstanding (including interest-bearing debts which were rate-fixed through interest rate swap) as of each period by interest-bearing debts outstanding as of the same period. Figures are rounded to the first decimal place.
  • "Duration of Interest-bearing debt" is based on the weighted average of the remaining period from the specified point of each interest-bearing debt to its repayment date or maturity date based on the balance of outstanding interest-bearing debt as of the specified point. Figures are rounded to the first decimal place.
  • "Average interest rate on fund procurement" represents the weighted-average interest rate (annual rate) at the end of each period. Figures are rounded to the second decimal place. With regard to the average interest rate on the portion of borrowings for which the company concluded interest-rate swap agreements to hedge against interest rate fluctuation risk, the company used weighted-average interest rates adjusted for the effect of relevant interest-rate swaps.
  • “Average financing cost” is the annualized figure calculated by dividing “the sum of interest expenses, interest on investment corporation bonds, financing related expenses (excluding early repayment related expenses and commitment line agreement related expense) and depreciation of investment corporation bonds issuance costs,” in the statements of income, by “the average outstanding total interest-bearing debt” of the period, and is rounded to the nearest second decimal place.