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The table at the top left shows LTV, outstanding interest-bearing debt, ratio of long-term borrowings and ratio of fixed-rate borrowings.
After the 4th public offering, LTV was lowered by 3.8pt from 47.7% as of the end of the 10th period to 43.9% as of January 17, 2017. Financial capabilities to acquire properties are considered at ¥49.5 billion at the LTV level of 50%.
The chart at the bottom shows the maturity ladder.
While the outstanding debt of ¥50.8 billion will become due for two years from the 11th period, we will continue efforts for well-balanced financing with the longer average remaining years to maturity and at lower cost.
We have managed to build a solid bank formation thanks to the cooperation of lenders. We will strive to achieve both maintaining this stable and solid financial base and improving earnings.
Please turn to the next page.
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