Research And Markets Research And Markets

Upgrades Still Outstripping Downgrades In Japan In 1Q 2007 Apr 07

  • ID: 1771236
  • April 2007
  • Region: Japan
  • Standard & Poors
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  • 77 Bank Ltd.
  • Chiba Bank Ltd.
  • Juroku Bank Ltd.
  • Mizuho Bank Ltd.(Old)
  • Osaka Gas Co. Ltd.
  • Shinsei Bank Ltd.
  • MORE

Upgrades again surpassed downgrades among Japanese issuers in the first quarter of 2007. Standard & Poor's Ratings Services raised its ratings on 22 Japanese issuers and downgraded two. Standard & Poor's also revised upward 23 outlooks, which indicate the potential direction of ratings over six months to two years, and one downward. Overall, the percentage of Japanese issuers rated investment grade ('BBB-') or above rose slightly compared to the ratio at the end of 2006. In the corporate sector, three general electronics companies, including Matsushita Electric Industrial Co. Ltd., were upgraded in February, and Mitsui Fudosan Co. Ltd. and Furukawa Electric Co. Ltd. were upgraded in March. In March, five railway companies, such as Tokyu Corp., were upgraded and the...

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Research Type: Commentary
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- Canon Inc.
- Shinsei Bank Ltd.
- Panasonic Corp.
- Aozora Bank Ltd.
- Mitsubishi Electric Corp.
- Tokyo Electric Power Co. Inc.
- Sumitomo Mitsui Trust Bank Ltd.
- Mitsubishi UFJ Trust and Banking Corp.
- Aioi Insurance Co. Ltd.
- Mitsui Fudosan Co. Ltd.
- Chiba Bank Ltd.
- Fujitsu Ltd.
- Nippon Life Insurance Co.
- Osaka Gas Co. Ltd.
- Chubu Electric Power Co. Inc.
- Joyo Bank Ltd.
- Chugoku Electric Power Co. Inc.
- Shikoku Electric Power Co. Inc.
- Tokyo Gas Co. Ltd.
- The Dai-ichi Life Insurance Co. Ltd.
- Sumitomo Life Insurance Co.
- Bank of Yokohama Ltd.
- Hachijuni Bank Ltd.
- Juroku Bank Ltd.
- The Fuji Fire & Marine Insurance Co. Ltd.
- Kyoei Fire & Marine Insurance Co. Ltd.
- Sanyo Electric Co. Ltd.
- Suzuki Motor Corp.
- NCT Trust and Banking Corp.
- Master Trust Bank of Japan Ltd.
- Tokyu Corp.
- Tobu Railway Co. Ltd.
- Hankyu Hanshin Holdings Inc.
- Odakyu Electric Railway Co. Ltd.
- Hokkaido Electric Power Co. Inc.
- Kansai Electric Power Co. Inc.
- Kyushu Electric Power Co. Inc.
- Tohoku Electric Power Co. Inc.
- 77 Bank Ltd.
- Keiyo Bank Ltd.
- Shinkin Central Bank
- Daiwa Securities Capital Markets Co. Ltd.
- Japan Tobacco Inc.
- Nagoya Railroad Co. Ltd.
- Mitsubishi Materials Corp.
- Sumitomo Electric Industries Ltd.
- Furukawa Electric Co. Ltd.
- Chuo Mitsui Trust & Banking Co. Ltd.
- Mizuho Trust & Banking Co. Ltd.
- Japan Housing Finance Agency
- Sumitomo Mitsui Banking Corp.
- Citigroup Overseas Holdings Inc.
- Mizuho Bank Ltd.(Old)
- Mizuho Bank Ltd.
- Nippon Building Fund Inc.
- Mitsubishi UFJ Financial Group Inc.
- Nikko Cordial Corp.
- Mizuho Financial Group Inc.
- Toyota Tsusho Corp.
- Japan Prime Realty Investment Corp.
- Sumitomo Mitsui Financial Group Inc.
- Sojitz Corp.
- Japan Trustee Services Bank Ltd.
- Trust & Custody Services Bank Ltd.
- ShinGinko Tokyo Ltd.
- Okinawa Electric Power Co. Inc.
- Bank of Tokyo-Mitsubishi UFJ Ltd.
- Toho Gas Co. Ltd.
- Citibank N.A. (Japan Branches)

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