Overview of debt
As of Nov. 30, 2025
| Period | LTV （％） |
Ratio of long-term debt （％） |
Ratio of fixed-rate debt （％） |
Average remaining borrowing period （year） |
|---|---|---|---|---|
| 28th（As of Nov. 30, 2025） | 47.2 | 99.2 | 88.4 | 3.8 |
| 27th（As of May 31, 2025） | 47.3 | 99.2 | 89.5 | 3.8 |
| 26th（As of Nov. 30, 2024） | 47.3 | 100.0 | 92.4 | 3.8 |
| 25th（As of May 31, 2024） | 47.3 | 100.0 | 92.4 | 3.9 |
| 24th（As of Nov. 30, 2023） | 46.7 | 100.0 | 94.1 | 4.0 |
| 23rd（As of May 31, 2023） | 46.9 | 100.0 | 95.7 | 4.2 |
| 22nd（As of Nov. 30, 2022） | 46.4 | 99.6 | 97.9 | 4.2 |
| 21st（As of May 31, 2022） | 46.3 | 100.0 | 98.3 | 4.4 |
| 20th（As of Nov. 30, 2021） | 46.0 | 100.0 | 96.6 | 4.4 |
| 19th（As of May 31, 2021） | 46.5 | 100.0 | 92.6 | 4.2 |
| 18th（As of Nov. 30, 2020） | 46.5 | 97.3 | 89.9 | 4.1 |
| 17th（As of May 31, 2020） | 46.5 | 95.5 | 88.1 | 4.4 |
| 16th（As of Nov. 30, 2019） | 45.5 | 97.9 | 92.8 | 4.7 |
| 15th（As of May 31, 2019） | 45.6 | 94.0 | 89.0 | 4.8 |
| 14th（As of Nov. 30, 2018） | 44.8 | 95.4 | 95.4 | 4.5 |
| 13th（As of May 31, 2018） | 44.7 | 95.4 | 95.4 | 4.6 |
| 12th（As of Nov. 30, 2017） | 46.0 | 94.9 | 92.8 | 4.4 |
| 11th（As of May 31, 2017） | 46.0 | 94.9 | 92.8 | 4.4 |
| 10th（As of Nov. 30, 2016） | 47.7 | 97.0 | 86.5 | 4.1 |
| 9th（As of May 31, 2016） | 43.3 | 98.4 | 88.6 | 3.5 |
| 8th（As of Nov. 30, 2015） | 44.5 | 98.2 | 82.6 | 3.3 |
| 7th（As of May 31, 2015） | 42.7 | 100.0 | 85.1 | 3.0 |
| 6th（As of Nov. 30, 2014） | 43.7 | 100.0 | 77.4 | 2.9 |
| 5th（As of May 31, 2014） | 41.5 | 97.0 | 79.2 | 3.1 |
| 4th（As of Nov. 30, 2013） | 45.9 | 96.6 | 71.6 | 2.9 |
| 3rd（As of May 31, 2013） | 45.0 | 100.0 | 74.1 | 3.5 |
| 2nd（As of Nov. 30, 2012） | 42.8 | 77.9 | 70.1 | 3.3 |
| （As of Jun. 13, 2012） | - | 77.9 | 70.1 | 3.7 |
| (Note 1) | LTV=Interest-bearing debt / Total assets * 100 |
|---|---|
| (Note 2) | Long-term borrowing ratio includes the borrowing to be repaid within a year. |
Breakdown of Interest-Bearing Debt
As of Feb. 27, 2026
Ratio of long-term debt
Ratio of fixed-rate debt
Loan to Value (LTV)
As of Nov. 30, 2025
(%)
Maturity Ladder
As of Feb. 27, 2026
(million yen)