Project Sunrise


Japan Sensitized Liquidity Forecast - September 2018    Sales and DPO Sensitivities


(USD, 000s)



Japan (With Commitment Line Renewal)


  - The base case total liquidity forecast of Japan is $83.3 million in September 2018 (with credit line renewal).


  - Assuming current base forecast DPO, each 12.5% reduction in payment terms represents a $16.7 million impact to liquidity in September.


  - Every 2% reduction to same store sales (every month through September) results in a $5.9 million impact to September liquidity.


  o Japan liquidity sensitivities assume renewal of the 9.45B JPY (~$83.5M) committed credit line on June 29th


  o Assumes the credit line is renewed on the same terms as previously agreed to (cash movement out of Japan is restricted).