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I will explain the trends in equity and interest-bearing debt.
For the fiscal year ending March 31, 2021, interest-bearing debt is expected to increase 119.0 billion yen to 1,480.0 billion yen chiefly due to investments in large-scale redevelopment, including Tokyo Port City Takeshiba and new investments.
In the Medium-Term Management Plan, we set the target of reducing the D/E ratio to below 2.3 at the end of the current fiscal year, but in the full-year forecast we projected it to be 2.5.
Even in this current fiscal year with the continuing COVID-19 pandemic, the long-term issuer rating of A (prospect: stable) awarded by JCR has been maintained.
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