45th FP Ended May 31, 2026	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
Interest bearing liabilities	(Millions of yen)	338,953	329,953	332,553	328,753	328,853	323,853
Total assets	(Millions of yen)	762,970	729,961	733,648	730,532	734,420	727,227
Appraisal value at the end of the period	(Millions of yen)	914,954	879,889	866,423	852,486	839,640	819,541
Book value at the end of the period	(Millions of yen)	700,813	676,261	671,896	672,105	666,310	660,778
LTV (Note )	(%)	34.6	35.3	35.8	36.0	36.2	36.5

		39th FP Ended May 31, 2023	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
Interest bearing liabilities	(Millions of yen)	320,403	313,403	310,703	304,433	299,833	296,633
Total assets	(Millions of yen)	723,202	714,899	715,568	707,548	704,135	701,982
Appraisal value at the end of the period	(Millions of yen)	825,465	820,762	809,303	798,113	799,032	782,675
Book value at the end of the period	(Millions of yen)	658,627	652,840	648,738	648,167	647,231	633,744
LTV (Note )	(%)	35.9	35.5	35.4	35.5	35.0	34.8

(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".