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	38th FP Ended Nov. 30, 2022
Interest bearing liabilities	(Millions of yen)	332,553	328,753	328,853	323,853	320,403	313,403
Total assets	(Millions of yen)	733,648	730,532	734,420	727,227	723,202	714,899
Appraisal value at the end of the period	(Millions of yen)	866,423	852,486	839,640	819,541	825,465	820,762
Book value at the end of the period	(Millions of yen)	671,896	672,105	666,310	660,778	658,627	652,840
LTV (Note )	(%)	35.8	36.0	36.2	36.5	35.9	35.5

		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	32nd FP Ended Nov. 30, 2019
Interest bearing liabilities	(Millions of yen)	310,703	304,433	299,833	296,633	289,533	270,777
Total assets	(Millions of yen)	715,568	707,548	704,135	701,982	694,089	678,208
Appraisal value at the end of the period	(Millions of yen)	809,303	798,113	799,032	782,675	792,847	774,194
Book value at the end of the period	(Millions of yen)	648,738	648,167	647,231	633,744	641,104	625,086
LTV (Note )	(%)	35.4	35.5	35.0	34.8	34.2	32.7

(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".