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Next let me provide an overview of the balance sheet at the end of the first half.
Total assets at the end of September 2012 declined ¥134.7 billion, to ¥1,610.1 billion, primarily attributable to the transfer of assets to a REIT. Total liabilities decreased ¥147.8 billion from the end of the previous fiscal year, mainly because of a fall in interest-bearing debt associated with the transfer of the assets to a REIT and others.
Interest-bearing debt decreased ¥129.3 billion from the end of the previous fiscal year, to ¥934.7 billion, and the DE ratio fell from 4.4 at the end of March 2012, to 3.7 at the end of September 2012, partly reflecting an increase in equity among other factors. The equity ratio also rose to 15.7% |
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