42nd FP (Jun. '25)	43rd FP (Dec. '25)
Borrowings	124,200	124,200
Investment corporation bonds	13,500	13,500
Total balance of Interest-bearing debt(Note 1)	137,700	137,700
LTV(Note 2)	40.2%	40.0%
Appraisal-based LTV(Note 3)	30.8%	30.5%
Unrealized gain or loss	104,173	107,110
Average interest rate on borrowings	0.66%	0.72%
Average remaining maturity of borrowings	4.44 years	4.31 years

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