EX-7 3 d337645dex7.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,  
     2013      2014      2015      2016      2017  
     (In millions of yen, except for ratios)  

Excluding interest on deposits

               

Earnings:

               

Income before income tax expense

    ¥ 1,415,871      ¥ 1,420,443      ¥ 2,262,656      ¥ 1,162,670      ¥ 272,543  

Add: Fixed charges

      353,043        344,548        375,926        409,479        436,564  

Less: Equity in earnings of equity
method investees—net

      60,210        110,520        172,946        176,857        197,821  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Total earnings

    ¥ 1,708,704      ¥ 1,654,471      ¥ 2,465,636      ¥ 1,395,292      ¥ 511,286  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Fixed charges:

               

Interest expense, excluding interest on deposits

      344,351        334,317        362,492        394,029        422,209  

Estimated interest component of net rental expense(1)

      8,692        10,231        13,434        15,450        14,355  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Total fixed charges

    ¥ 353,043      ¥ 344,548      ¥ 375,926      ¥ 409,479      ¥ 436,564  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Ratio of earnings to fixed charges

      4.8        4.8        6.6        3.4        1.2  
     Fiscal years ended March 31,  
     2013      2014      2015      2016      2017  
     (In millions of yen, except for ratios)  

Including interest on deposits

               

Earnings:

               

Total earnings

    ¥ 1,708,704      ¥ 1,654,471      ¥ 2,465,636      ¥ 1,395,292      ¥ 511,286  

Add: Interest on deposits

      212,067        226,655        300,692        350,335        347,430  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Total earnings including interest on deposits

    ¥ 1,920,771      ¥ 1,881,126      ¥ 2,766,328      ¥ 1,745,627      ¥ 858,716  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Fixed charges:

               

Total fixed charges

      353,043        344,548        375,926        409,479        436,564  

Add: Interest on deposits

      212,067        226,655        300,692        350,335        347,430  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Total fixed charges including interest
on deposits

    ¥ 565,110      ¥ 571,203      ¥ 676,618      ¥ 759,814      ¥ 783,994  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Ratio of earnings to fixed charges

      3.4        3.3        4.1        2.3        1.1  

 

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.