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Research Update: Japan Securities Finance Co. Ltd. May 03
Standard & Poors, May 2003
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.
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.