Balance Sheet
Breakdown(Note: Totals may not match due to rounding of figures.)

FY 2022 (A)FY 2023 (B)Change (B) - (A)Hundred million yen

Hundred million yen

Hundred million yen

Current assets

7,421

7,234

▲ 186

Cash deposit

1,644

1,814＋ 169

Securities

1,569-▲ 1,569

Certificate of deposit management utilizing fiscal loan fundReceivables for road asset lending, etc.

4,009

5,207＋ 1,197

Receivables related to road asset lending, occupancy fee revenue, etc.

197

212＋ 14412,646

409,284▲ 3,362

Tangibleassets
Businessfixedassets

409,734

406,354▲ 3,380

Intangible fixed assets

2,802

2,805＋2

109

124＋ 14(109)(124)(＋ 14)

420,067

416,518▲ 3,549

36,92834,468▲ 2,459

Institutional bonds to beredeemed within one (1) year

31,31028,228▲ 3,081Long-term debts to be repaid
within one (1) year

2,485

2,139

▲ 346

Debts to be repaid within one (1) year

Others3,132

4,100＋ 968

Accrued liabilities, accrued expenses, deposits, etc.

230,369

223,763▲ 6,605

Institutional bonds

165,481

159,333▲ 6,147

Long-term debt

58,49458,699＋ 205

Debts with a repayment term exceeding one (1) year

Long-term accrued liabilities

2,803

2,115▲ 687

Remaining balance of installment principal for the purchase of the Trans-Tokyo
Bay Expressway

Others3,590

3,614＋ 23

Long-term subsidies, long-term accrued expenses, contra accounts forconstruction of railway facilities, long-term donations, etc.

III Legal reserves

4,767

4,447

▲ 319

4,709

4,391

▲ 317

Reserves for adjusting the agency’s profit and loss calculations for the term inimplementing the Expressway Convenience Improvement Project5856▲2Reserves for equalizing the portion of railway facility usage fees (Honshi-BisanLine) collected from railway operators

272,064

262,680▲ 9,384

261,000

251,054▲ 9,946

Account Details

AssetsI

OtherII

Fixed assets

Investments and other assets(Long-term loans)

Total assets

Accounts receivable, short-term debts, stock, prepaid expenses, etc.

Temporary accounts for buildings, structures, land, and construction of road
Land lease rights, software, etc.

Interest-free loans funded through capital investment by national and local governments

Liabilities
III

Current liabilities

Fixed liabilities

Provisions for the Expressway
Convenience Improvement Project

Railwayfacility
Reserves
for management
repayment reserves

Total liabilities
End of term book value of interestbearing liabilities

Bonds to be redeemed within one (1) year

Bonds with maturities exceeding one (1) year

Net assets
I

Capital56,51656,517＋0II

Capital surplus

8,394

8,392

▲1III Retained earnings

83,092

88,928＋ 5,836

148,002

153,838＋ 5,835

420,067

416,518▲ 3,549

Total net assets

Total liabilities and net assets

Capital investment from national and local governments

AssetsAssets totaled ¥41.6518 trillion. Accounting for the majority at ¥40.6354 trillion, or 97% of this total, were "Tangible fixed assets" from roadassets and railway facilities. Assets decreased by ¥354.9 billion compared to the end of the previous fiscal year. The main factors behind thiswere (1) a ¥16.9 billion increase in “Cash deposits ” due to increase in debt repayment expenses , (2) a 156.9 billion yen decrease due toredemption of “Marketable securities,” (3) tangible fixed assets decreased by ¥338.0 billion, (breakdown: a ¥1,068.7 billion decrease due todepreciation and a ¥765.6 billion increase due to attribution of assets from expressway companies, etc.), (4) income receivable for road asset
loans, etc. increased by ¥119.7 billion, causing this result.
Liabilities
Liabilities decreased by ¥938.4 billion compared to the end of the previous fiscal year. The main factors behind this were (1) a ¥3.3795 trillion
decrease due to the redemption or repayment of “Institutional bonds” and “Long-term debts”, (2) Decrease of ¥31.7 billion through breaking
into reserve for projects to increase expressway convenience, (3) a ¥1,627.9 billion increase due to procurement of new “Institutional bonds”
and “long-term debt”, and (4) a ¥811.2 billion increase due to the assumption of debts from expressway companies.

Total net assets
Total net assets reached ¥15.3838 trillion, which increased by ¥583.5 billion from the end of the previous fiscal year, and the main factors
behind this were (1) a ¥500 million increase due to acquisition of non-amortized assets by donation, etc, (2) a ¥700 million decrease in“Capital surplus” due to asset depreciation and retirement specified in Article 87 (1) of the Accounting Standards for Independent
Administrative Agencies, and (3) a ¥583.8 billion increase due to accumulated gross profit in “Retained earnings”. Retained earnings, which isthe accumulated gross profit for each fiscal year, and accumulated depreciation serve as the sources for repaying debts. As such, retainedearnings increase according to the amount of debt repaid.