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![Investments in SPCs SPCs BS [owned by TLC, considering interest ratio; Parent company]](../images/11.jpg)
Next I'll provide an overview of SPC investments.
As of March 31, 2010, the balance of equity investments in SPCs stood at ¥216.2 billion, representing a year on year decrease of ¥16.9 billion. Through this ¥216.2 billion , the Company holds ¥882.0 billion in total assets, and the balance of non-recourse loans is ¥633.0 billion.
The breakdown of total assets as of March 31, 2010, is as follows: assets in operation stood at ¥398.0 billion, mostly located in central Tokyo, and mostly new buildings developed by the Company for long-term ownership as a stable source of income.
Meanwhile, the Company temporarily owns buildings worth ¥27.0 billion. Most of these properties are bridge investments scheduled to be sold to funds, and buildings acquired with the purpose of resale for third parties. For these reasons many of these properties are, compared to the assets in operation, commercial facilities located in suburbs and regional cities.
For large-scale projects, Ginza/Jingumae/Shinjuku Times Square amount to ¥385.0 billion, and assets in the planning stage represents ¥72.0 billion.
In Ginza, all tenants except for one relocated out, and the building is now partially closed. We plan to continue our negotiations with the remaining tenant.
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