20.9 20.2 21.1 21.0 19.0 18.0

44.2 45.1 44.4 47.3 48.8 50.4

9.0 8.7 8.6 6.1 6.0 6.4

26.0 25.9 25.9 25.6 26.2 25.2

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

2011 2012 2013 2014 2015 1H16

MV%

Gov-Related Corp. Ind Corp. Util. Corp. Fin. Inst.

9.8 8.6 8.8 9.1 9.3 8.8

14.0 12.0 12.3 11.6 11.0 11.5

40.9 40.1 38.6 39.3 37.6 36.1

35.3 39.3 40.3 40.0 42.0 43.5

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

2011 2012 2013 2014 2015 1H16

MV%

Aaa Aa A Baa

●

●

●

●

●

●

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