EX-7 6 d140673dex7.htm STATEMENT OF COMPUTATION OF CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES Statement of Computation of Consolidated Ratio of Earnings to Fixed Charges

Exhibit 7

CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES

 

     Fiscal years ended March 31,  
     2012     2013      2014      2015      2016  
     (In millions of yen, except for ratios)  

Excluding interest on deposits

              

Earnings:

              

Income before income tax expense

    ¥ 849,942      ¥ 1,415,871       ¥ 1,420,443       ¥ 2,262,656       ¥ 1,162,670   

Add: Fixed charges

      416,255        353,043         344,548         375,926         409,479   

Less: Equity in earnings of equity method investees—net

      (499,427 )      60,210         110,520         172,946         176,857   
  

 

 

    

 

 

     

 

 

     

 

 

     

 

 

  

Total earnings

    ¥ 1,765,624      ¥ 1,708,704       ¥ 1,654,471       ¥ 2,465,636       ¥ 1,395,292   
  

 

 

    

 

 

     

 

 

     

 

 

     

 

 

  

Fixed charges:

              

Interest expense, excluding interest on deposits

      411,281        344,351         334,317         362,492         394,029   

Estimated interest component of net rental expense(1)

      4,974        8,692         10,231         13,434         15,450   
  

 

 

    

 

 

     

 

 

     

 

 

     

 

 

  

Total fixed charges

    ¥ 416,255      ¥ 353,043       ¥ 344,548       ¥ 375,926       ¥ 409,479   
  

 

 

    

 

 

     

 

 

     

 

 

     

 

 

  

Ratio of earnings to fixed charges

      4.2        4.8         4.8         6.6         3.4   
     Fiscal years ended March 31,  
     2012     2013      2014      2015      2016  
     (In millions of yen, except for ratios)  

Including interest on deposits

              

Earnings:

              

Total earnings

    ¥ 1,765,624      ¥ 1,708,704       ¥ 1,654,471       ¥ 2,465,636       ¥ 1,395,292   

Add: Interest on deposits

      228,858        212,067         226,655         300,692         350,335   
  

 

 

    

 

 

     

 

 

     

 

 

     

 

 

  

Total earnings including interest on deposits

    ¥ 1,994,482      ¥ 1,920,771       ¥ 1,881,126       ¥ 2,766,328       ¥ 1,745,627   
  

 

 

    

 

 

     

 

 

     

 

 

     

 

 

  

Fixed charges:

              

Total fixed charges

      416,255        353,043         344,548         375,926         409,479   

Add: Interest on deposits

      228,858        212,067         226,655         300,692         350,335   
  

 

 

    

 

 

     

 

 

     

 

 

     

 

 

  

Total fixed charges including interest on deposits

    ¥ 645,113      ¥ 565,110       ¥ 571,203       ¥ 676,618       ¥ 759,814   
  

 

 

    

 

 

     

 

 

     

 

 

     

 

 

  

Ratio of earnings to fixed charges

      3.1        3.4         3.3         4.1         2.3   

 

Note:

(1)   The portion deemed representative of the interest factor

The ratios of earnings to fixed charges are computed by dividing earnings by fixed charges. Earnings consist primarily of income (loss) before taxes, as adjusted for some equity method investments and for fixed charges. Fixed charges consist primarily of interest expense on deposits, debentures and short-term and long-term debt, amortization of debt expense and discount and the portion deemed representative of the interest factor of net rental expense under long-term leases.