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Financials

Financial Highlights

J-GAAP
  • *Net debt = Bank loans + Corporate bonds - Cash & cash equivalents
  • *EBITDA = Operating income + Depreciation + Amortization of goodwill etc.
  • *D/EBITDA ratio = Net debt/EBITDA
  • *D/E ratio = Net debt/Net assets
  • (Adjusted for Hybrid bonds and subordinated loans)
IFRS
  • *Net debt = Bonds and borrowings - Cash and cash equivalents
  • *EBITDA = Operating income + Depreciation and amortization - other income + other costs
  • *D/EBITDA ratio = Net debt/EBITDA
  • *D/E ratio = Net debt/Total equity
  • (Adjusted for Hybrid bonds and subordinated loans)
J-GAAP IFRS
2015/12 2016/12 2016/12 2017/12
2015/6 2015/12 2016/6 2016/12 2016/12 2017/12
Bonds and Borrowings (Million Yen) 2,055,217 2,063,279 1,994,696 1,943,827 1,943,827 1,831,265
Net valuation gain (loss) arising from derivative transactions (Million Yen) - - - - -18,765 30,052
Bonds and Borrowings (adjusted) (Million Yen) - - - - 1,962,593 1,801,213
Cash and cash equivalents (Million Yen) - - - - 352,519 359,518
Cash & cash equivalents (Million Yen) 228,338 258,622 345,366 353,157 - -
Net Debt (Million Yen) 1,826,878 1,804,657 1,649,330 1,590,670 1,610,074 1,441,694
Equity credit for Hybrid bonds and subordinated loans (Million yen)* 223,300 241,800 223,099 237,562 237,561 233,845
Net Debt (Million Yen)
(Adjusted for Hybrid bonds and subordinated loans)
1,603,578 1,562,857 1,426,231 1,353,108 1,372,512 1,207,849
Total equity (Million Yen) - - - - 1,272,134 1,545,713
Net assets (Million Yen) 1,200,328 1,162,629 941,882 1,156,720 - -
Total equity (Million Yen)
(Adjusted for Hybrid bonds and subordinated loans)
- - - - 1,509,696 1,779,558
Net assets (Million Yen)
(Adjusted for Hybrid bonds and subordinated loans)
1,423,628 1,404,429 1,164,981 1,394,282 - -
EBITDA (Million Yen) 151,083 344,425 164,575 352,237 348,436 359,293
D/E Ratio
(Adjusted for Hybrid bonds and subordinated loans)
1.1 1.11 1.2 0.97 0.91 0.68
D/EBITDA Ratio
(Adjusted for Hybrid bonds and subordinated loan)
- 4.5 - 3.8 3.9 3.4

*Equity credit for Hybrid bonds and subordinated loans

February 16, 2018

Subordinated loans

Date of issue Name of
Subordinated loans
Currency Amount
(Millions in
local currency)
Outstanding Balance
(Millions in
local currency)
Outstanding Balance
(Millions of Yen)
Equity Credit*1
(%)
Equity credit for Hybrid bonds and
subordinated loans*1
(Millions of Yen)
Maturity Date Reference
December 29, 2011 Tranche B JPY 50,000 50,000 50,000 50% 25,000 December 29, 2071
(After December 29, 2021
Early redeemable on every payment date)
August 12, 2014 Tranche A JPY 50,000 50,000 50,000 50% 25,000 August 12, 2074
(After August 12, 2019
Early redeemable on every payment date)
Tranche B USD 500 500 *2
56,500
50% 28,250 August 12, 2074
(After August 12, 2019
Early redeemable on every payment date)
August 18, 2014 Tranche B USD 1,500 1,000 *2
113,000
50% 56,500 August 18, 2074
(After August 18, 2019
Early redeemable on every payment date)
July 31, 2015 Tranche A
Tranche B
JPY 50,000 50,000 50,000 75% 37,500 July 31, 2075
(After July 31, 2020
Early redeemable on every payment date)
Tranche C USD 420 420 *2
47,460
75% 35,595 July 31, 2075
(After July 31, 2020
Early redeemable on every payment date)
June 28, 2016 Tranche A JPY 22,000 22,000 22,000 50% 11,000 December 28, 2076
(After December 28, 2021
Early redeemable on every payment date)
December 29, 2016 Tranche B JPY 30,000 30,000 30,000 50% 15,000 December 29, 2076
(After December 29, 2021
Early redeemable on every payment date)
Total
(Millions of Yen)
418,960 - 233,845
*1 Equity credit for Hybrid bonds and subordinated loans is the amount of Hybrid bonds and subordinated loans multiplied by equity credit recognized by Japan Credit Rating Agency and Moody's Japan.
*2 USD1=JPY113.00