44th FP Ended Nov. 30, 2025	43rd FP Ended May 31, 2025	42nd FP Ended Nov. 30, 2024	41st FP Ended May 31, 2024	40th FP Ended Nov. 30, 2023	39th FP Ended May 31, 2023
Interest bearing liabilities	(Millions of yen)	329,953	332,553	328,753	328,853	323,853	320,403
Total assets	(Millions of yen)	729,961	733,648	730,532	734,420	727,227	723,202
Appraisal value at the end of the period	(Millions of yen)	879,889	866,423	852,486	839,640	819,541	825,465
Book value at the end of the period	(Millions of yen)	676,261	671,896	672,105	666,310	660,778	658,627
LTV (Note )	(%)	35.3	35.8	36.0	36.2	36.5	35.9

		38th FP Ended Nov. 30, 2022	37th FP Ended May 31, 2022	36th FP Ended Nov. 30, 2021	35th FP Ended May 31, 2021	34th FP Ended Nov. 30, 2020	33rd FP Ended May 31, 2020
Interest bearing liabilities	(Millions of yen)	313,403	310,703	304,433	299,833	296,633	289,533
Total assets	(Millions of yen)	714,899	715,568	707,548	704,135	701,982	694,089
Appraisal value at the end of the period	(Millions of yen)	820,762	809,303	798,113	799,032	782,675	792,847
Book value at the end of the period	(Millions of yen)	652,840	648,738	648,167	647,231	633,744	641,104
LTV (Note )	(%)	35.5	35.4	35.5	35.0	34.8	34.2

(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".