Credit Quality Of Japanese Corporations Likely To Stabilize In 2010 Mar 10

  • ID: 1771410
  • March 2010
  • Region: Japan
  • Standard & Poors
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  • AEON Co. Ltd.
  • Denso Corp.
  • Japan
  • Mitsui & Co. Ltd.
  • Omron Corp.
  • SoftBank Group Corp.
  • MORE

The credit quality of Japanese industrial corporations is likely to stabilize in 2010. Japanese corporations, particularly those in manufacturing, appear to have weathered the worst of the period following the severe deterioration in the global economy, which was precipitated by the Lehman shock in 2008. Standard & Poor's Ratings Services is of the opinion that the performance of Japanese corporations generally bottomed out in the first half of fiscal 2009 (April 1, 2009, to Sept. 30, 2009), and expects their credit quality to stabilize further in 2010. We believe that corporations' financial performance is stabilizing to an extent, and that we have passed the peak of ratings downgrades and downward revisions to outlooks. Indeed, we are of the opinion that...

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.

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- American Airlines Inc.
- Canon Inc.
- Hitachi Ltd.
- Komatsu Ltd.
- Panasonic Corp.
- Mitsubishi Corp.
- Mitsubishi Estate Co. Ltd.
- Mitsui & Co. Ltd.
- Nippon Telegraph & Telephone Corp.
- Ricoh Co. Ltd.
- Sony Corp.
- TDK Corp.
- Asahi Glass Co. Ltd.
- Japan
- Nissan Motor Co. Ltd.
- Honda Motor Co. Ltd.
- Ajinomoto Co. Inc.
- Sumitomo Corp.
- Marubeni Corp.
- Toyota Motor Corp.
- Tokyo Electric Power Co. Inc.
- Denso Corp.
- Toshiba Corp.
- Mitsui Fudosan Co. Ltd.
- ITOCHU Corp.
- Omron Corp.
- Takeda Pharmaceutical Co. Ltd.
- Uny Co. Ltd.
- Osaka Gas Co. Ltd.
- Sharp Corp.
- Chubu Electric Power Co. Inc.
- Pioneer Corp.
- NEC Corp.
- Chugoku Electric Power Co. Inc.
- Shikoku Electric Power Co. Inc.
- Tokyo Gas Co. Ltd.
- SoftBank Group Corp.
- AEON Co. Ltd.
- Nippon Steel & Sumitomo Metal Corp.
- Kawasaki Kisen Kaisha Ltd.
- Japan Tobacco Inc.
- Fast Retailing Co. Ltd.
- Nippon Building Fund Inc.
- Japan Airlines Corp.
- Toyota Industries Corp.
- Electric Power Development Co. Ltd.
- Aisin Seiki Co. Ltd.
- Sojitz Corp.
- Japan Retail Fund Investment Corp.
- Seven & i Holdings Co. Ltd.
- Nippon Accommodations Fund Inc.
- Fuji Xerox Co. Ltd.
- Okinawa Electric Power Co. Inc.

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