Investor Presentaiton
Debt Management Policy
Maintain the approach to interest-bearing debt set out in "Move Up" 2027
JR
JR-EAST
"Seek net interest-bearing debt / EBITDA of about 3.5 times over the medium to long term❞
■ Abovementioned ratio is going to rise to the FY 2022.3 temporarily. However, improve to 5
times or less by FY2026.3 and continue to endeavor to ensure financial soundness thereafter
(times)
The images of improvement of
Net interest-bearing debt / EBITDA
Peaking out
9.0
8.0
in FY2022.3
7.0
6.0
Continuing to
ensure financial
soundness
5.0
4.0
5 times or less by
FY2026.3
3.0
2.0
1.0
0.0
2019.3 2020.3 2021.3 2022.3 2023.3
2024.3 2025.3 2026.3 2027.3 2028.3
Net interest-bearing debt / EBITDA
*Net interest-bearing debt means Balance of consolidated interest-bearing debt minus Balance of consolidated cash and cash equivalents.
*EBITDA means Consolidated operating income plus Consolidated depreciation expense.
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