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Page 5 introduces the balance sheet at the end of the period ended May 2018.
Total assets at the end of this period were ¥445.9 billion, total liabilities were ¥222.1
billion, and total net assets were ¥223.7 billion.
Due to acquisition of new properties, the total assets increased by ¥19.1 billion from the end of the previous period, and LTV stood at 44.7%, down 1.3pt due to the PO conducted last year.
Unrealized gain of portfolio, which equals to the difference between appraisal value and book value, expanded to ¥74 billion, up ¥5.1 billion from the end of the previous period.
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