a look at dscr & ltv

BJT has five loans and below are the principal convenants and the 31 Dec ratio.

18.6 billion -
DSCR test of over 1.2 vs 31 Dec ratio of 2.2
18 billion -
DSCR test of over 1.6 vs 31 Dec ratio of 6.5
15.5 billion -
DSCR test of over 1.15 vs 31 Dec rato of 1.9
18.8 billion -
DSCR test of over 1.1 vs 31 Dec ratio of 2
21.1 billion -
DSCR test of over 1.5 vs 31 Dec ratio of 4.6
LTV test of less than 78% vs 31 Dec LTV of 65.9%

BJT is currently earning 5% on its investment property in JPY. If because of a combination of lower rent & lower occupancy, its net property income drops by 20%, it will still be earning 4% on its investment property and could still comfortably meet all the DSCR tests. As you can see above, there is a lot of room between the min ratio requuired by the banks and the 31 Dec ratio.