43rd FP (Dec. '25)	44th FP (Jun. '26)
Borrowings	124,200	140,200
Investment corporation bonds	13,500	13,500
Total balance of Interest-bearing debt(Note 1)	137,700	153,700
LTV(Note 2)	40.0%	42.6%
Appraisal-based LTV(Note 3)	30.5%	32.4%
Unrealized gain or loss	107,110	113,696
Average interest rate on borrowings	0.72%	0.93%
Average remaining maturity of borrowings	4.31 years	4.41 years

• Interest-bearing debt = borrowings + investment corporation bonds
• LTV = interest-bearing debt / total asset balance
• Appraisal-based LTV = interest-bearing debt / (total asset balance + unrealized gain)