EX-7 11 d528020dex7.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,  
     2014      2015      2016      2017      2018  
     (In millions of yen, except for ratios)  

Excluding interest on deposits

               

Earnings:

               

Income before income tax expense

    ¥ 1,420,443      ¥ 2,262,656      ¥ 1,162,670      ¥ 272,543      ¥ 1,661,819  

Add: Fixed charges

      344,548        375,926        409,479        436,564        529,339  

Less: Equity in earnings of equity method investees—net

      110,520        172,946        176,857        197,821        227,984  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Total earnings

    ¥ 1,654,471      ¥ 2,465,636      ¥ 1,395,292      ¥ 511,286      ¥ 1,963,174  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Fixed charges:

               

Interest expense, excluding interest on deposits

      334,317        362,492        394,029        422,209        513,887  

Estimated interest component of net rental expense(1)

      10,231        13,434        15,450        14,355        15,452  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Total fixed charges

    ¥ 344,548      ¥ 375,926      ¥ 409,479      ¥ 436,564      ¥ 529,339  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Ratio of earnings to fixed charges

      4.8        6.6        3.4        1.2        3.7  
     Fiscal years ended March 31,  
     2014      2015      2016      2017      2018  
     (In millions of yen, except for ratios)  

Including interest on deposits

               

Earnings:

               

Total earnings

    ¥ 1,654,471      ¥ 2,465,636      ¥ 1,395,292      ¥ 511,286      ¥ 1,963,174  

Add: Interest on deposits

      226,655        300,692        350,335        347,430        514,868  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Total earnings including interest on deposits

    ¥ 1,881,126      ¥ 2,766,328      ¥ 1,745,627      ¥ 858,716      ¥ 2,478,042  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Fixed charges:

               

Total fixed charges

      344,548        375,926        409,479        436,564        529,339  

Add: Interest on deposits

      226,655        300,692        350,335        347,430        514,868  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Total fixed charges including interest on deposits

    ¥ 571,203      ¥ 676,618      ¥ 759,814      ¥ 783,994      ¥ 1,044,207  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Ratio of earnings to fixed charges

      3.3        4.1        2.3        1.1        2.4  

 

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.