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The balance sheet shows
total assets as of September 30, 2011 increasing by 78.6 billion yen over the previous fiscal year end to total 1,266.9 billion yen. This increase comes despite a 17.8 billion yen loss due to the strong yen.
This jump includes an increase in cash and cash equivalents acquired through long-term loans as well as a gain on the sale of the Subaru Building. The loans were taken out to secure sufficient cash on hand needed to provide post-quake support to our subsidiaries.
Interest-bearing debt rose 56.0 billion yen to reach 386.6 billion yen. This surge is due to the increase in loans payable despite the redemption of corporate bonds amounting to 20.0 billion yen this past April. We plan to bring debt down to somewhere around 350.0 billion yen by the end of the fiscal year ending March 2012.
Our debt-to-equity ratio dropped 0.09 points to reach 0.89 due to increased loans.
Net assets totaled 434.3 billion yen, up 20.4 billion yen, due primarily to a 29.3 billion yen increase in retained earnings.
The shareholders' equity to total assets ratio was 34.2%.