Interest-bearing Liabilities
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Summary of interest-bearing liabilities
As of 31 March 2026
| Total assets | 237,885 million yen | Ratio of fixed-rate liabilities | 79.0 % |
|---|---|---|---|
| Interest-bearing liabilities | 126,600 million yen | Ratio of long-term liabilities | 100.0 % |
| LTV（book value） | 53.2 % | Average interest rate | 1.19 % |
| LTV（appraisal value） | 45.0 % | Average financing term | 5.5 years |
| Average years to maturity | 2.8 years |
- LTV (book value)＝(interest-bearing liabilities – bridge loan) ÷ (term-end total assets – bridge loan)
- LTV (appraisal value)＝interest-bearing liabilities ÷(term-end total assets + unrealized gain/ loss)
Structure of interest-bearing liabilities
As of 31 March 2026
Ratio of long-term liabilities
Ratio of fixed-rate liabilities
LTV
As of 31 March 2026
(%)
Diversified Due Dates of Interest-bearing Liabilities
As of 31 March 2026
(million yen)
- This excludes bridge loan（17.5 billion yen） that is due to be repaid on March 30, 2027. That loan is planned to be refinanced into a permanent loan when it becomes due.
Credit Ratings
As of 31 March 2026
| Credit Rating Agency | Rating Object | Rating | Outlook |
|---|---|---|---|
| Japan Credit Rating Agency, Ltd. | Long-term Issuer Rating | AA- | Stable |