37. Subsequent events

In its meeting held on 1 February 2017, SATO Corporation’s Board of Directors has updated the financial targets of the Group. The updated financial targets are:
• Equity ratio over 35 per cent (previous target over 30 per cent);
• solvency ratio below 70 per cent;
• interest cover ratio over 1.8x; and
• unencumbered assets ratio 60 per cent or more (previous approximately 50 per cent by the end of 2020).