Summary: Sojitz Corp.

Standard & Poors

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Abstract
Strengthened financial profile following a debt-for-equity swap and asset restructuring in October 2004. Weak market position. Low capital quality, with high reliance on preferred stock. Core business sectors have uncertain prospects for profit growth. Sojitz Corp.'s financial profile is improving, owing to its recent financial restructuring and support from creditor banks. In 2003, Sojitz received a capital injection of about -263 billion from its key creditor banks, led by its main bank, UFJ Bank Ltd. The company received an additional -360 billion through a swap of its holding company's debt for equity in October 2004. In exchange for the capital support, Sojitz pledged to take aggressive measures to improve the quality of its assets by reducing their size by -600...

Companies mentioned in this report are: Sojitz Corp.
Action: Review

Sojitz Corp.

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