30th FP Ended Nov. 30, 2018	29th FP Ended May 31, 2018	28th FP Ended Nov. 30, 2017	27th FP Ended May 31, 2017	26th FP Ended Nov. 30, 2016	25th FP Ended May 31, 2016
Interest bearing liabilities	(Millions of yen)	257,384	255,884	271,607	285,857	277,407	293,157
Total assets	(Millions of yen)	651,242	648,503	663,531	675,885	648,105	629,262
Appraisal value at the end of the period	(Millions of yen)	725,945	714,237	706,912	713,253	675,774	643,084
Book value at the end of the period	(Millions of yen)	598,764	595,604	598,383	610,317	579,993	562,705
LTV (Note )	(%)	33.0	33.3	35.1	36.7	37.2	41.3

		24th FP Ended Nov. 30, 2015	23rd FP Ended May 31, 2015	22nd FP Ended Nov. 30, 2014	21st FP Ended May 31, 2014	20th FP Ended Nov. 30, 2013	19th FP Ended May 31, 2013
Interest bearing liabilities	(Millions of yen)	264,707	255,357	269,157	257,707	257,333	256,356
Total assets	(Millions of yen)	598,077	573,318	561,415	527,807	527,025	516,739
Appraisal value at the end of the period	(Millions of yen)	603,224	560,351	548,086	509,824	483,232	474,949
Book value at the end of the period	(Millions of yen)	535,252	507,054	508,216	482,847	465,001	462,834
LTV (Note )	(%)	39.7	40.7	44.7	46.4	47.1	48.4

(Note)	LTV = (Interest bearing liabilities / (Total assets + (Appraisal value at the end of the period - Book value at the end of the period)) * 100 For LTV, please refer to "Financial Policies".