Ono, Yomiuri Shimbun: My second question is about the net loss. Is my understanding correct that the main reason, as in Q1, is the valuation loss due to the strong yen on perpetual subordinated bonds? Please confirm that point.
Hirose, CFO: At the operating income level, the cumulative six-month loss for this fiscal year is 6.6 billion yen, an improvement of 45 billion yen from the same period last year. On the other hand, financial income and expenses worsened by 66.6 billion yen, which, as you pointed out, is the gain or loss on derivatives heding realated to perpetual bonds. Under IFRS perpetual bonds are treated as equity, so unrealized gains and losses do not impact the P/L, but onlythe derivative hedges are reflected. |
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