Fiscal Period	2H/21 41st	1H/22 42nd	2H/22 43rd	1H/23 44th	2H/23 45th	1H/24 46th
Operating Revenues (billion yen)	50.33	52.21	47.36	47.03	47.34	50.25
Net Income (billion yen)	21.72	25.43	20.28	19.33	19.51	23.34
Total Assets (billion yen)	1,306.8	1,367.7	1,368.7	1,385.9	1,385.6	1,383.8
LTV (%)	42.1	42.0	42.2	42.9	42.8	42.4
Distribution per Unit^(*1) (yen)	11,848	13,476	11,500	11,500	11,500	13,082
NAV per Unit^(1)(2) (yen)	585,233	599,556	603,199	605,560	606,635	607,556

NBF implemented a split of its investment units on a two-for-one basis effective as of January 1, 2014. For reference, figures prior to unit split are adjusted for the unit split.
NAV per unit ＝ (Unitholders' capital at period end ＋ Reserve for advanced depreciation in the next period (reserve - reversal) ＋ Unrealized gain or loss on appraisal value at period end) ÷ Units issued and outstanding at period end

Financial Highlights

Operating Revenues