Research Update: Japan Securities Finance Co. Ltd. May 03

Standard & Poors, May 2003

Abstract
On May 21, 2003, Standard & Poor's assigned its 'A-' long-term counterparty rating to Japan Securities Finance Corp. (JSF). JSF is expected to maintain its leading market position as the sole securities finance company licensed to conduct margin lending for the Tokyo stock exchange (TSE). The company's asset profile is sound, backed by appropriate capitalization. The unsecured loan business conducted by JSF's subsidiary, JSF Trust Banking Co. Ltd., could be a risk factor amid prolonged economic stagnation in Japan. As the sole securities finance company licensed to conduct margin lending for the TSE, JSF has considerable strength in this business. Margin lending involves lending funds and stock certificates to securities companies through the settlement system of the stock exchange, in...

Companies mentioned in this report are: Japan Securities Finance Co. Ltd.
Action: Review

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.

Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.

Japan Securities Finance Co. Ltd.

Customers who bought this item also bought

• Research Report on Chinese Securities Industry, 2009
• Japan Education Industry Forecast to 2015
• The Worldwide Industry & Regional Market Opportunities with Forecasts to 2015 for Active Electronically-Scanned Array Radars (AESAs) Update Report
• Commercial And Military Flight Simulation - Global Strategic Business Report
• Future of the Japanese Defense Industry - Market Attractiveness, Competitive Landscape and Forecasts to 2018
• The Japanese Defense Industry - Market Opportunities and Entry Strategies, Analyses and Forecasts to 2016
• The Japan Defense Industry - Competitive Landscape and Strategic Insights to 2017: Market Profile
• Defense and Security in Japan
• Defense Expenditure in Japan to 2017: Market Review
• The Japan Defense Industry - Industry Dynamics to 2017: Market Profile