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On the right side of the balance sheet, I will explain the changes in interest-bearing debt, etc.
Interest-bearing debt as of the end of March 2022 was JPY1.48 trillion, almost the same as the previous year, and the debt-to-equity ratio improved by 0.1 times to 2.4 times. We also plan to improve our debt-to-equity ratio after deducting hybrid financing to 2.2 times, and will aim to maintain our financial discipline.
JCR's long-term issuer credit rating has remained unchanged at A-flat since the rating upgrade in January 2019, even for COVID-19 crisis.
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