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Accounting Revisions Unlikely To Hurt Rated Japanese Leasing Companies, Says S&P Report Jul 06
Standard & Poors, July 2006
Abstract
TOKYO (Standard & Poor's) July 26, 2006--Proposed revisions to lease accounting standards will likely have a limited impact on the credit quality of rated Japanese leasing companies if implemented in their current form, according to a report published today by Standard & Poor's Ratings Services. On July 5, the Accounting Standards Board of Japan (ASBJ) released its proposed guidelines for accounting of lease transactions. In particular, the proposal addresses financing leases that do not transfer ownership to the lessee, and it recommends that these transactions be recorded as sales and purchases on the balance sheets of both lessors and lessees. Final revisions to the lease accounting standards are to be determined after discussions among the various government ministries and industry...
Companies mentioned in this report are: Hitachi Capital Corp.,ORIX Corp.,Ricoh Leasing Co. Ltd.,BOT Lease Co. Ltd.,NTT Finance Corp.,Mitsubishi UFJ Lease & Finance Co. Ltd. (Unsolicited Ratings)
Action: General Comment
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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