Japan Securities Finance Co. Ltd. Jun 08
Standard & Poors, June 2008
Abstract
Leading market position as the sole securities finance company licensed to conduct margin lending for the Tokyo Stock Exchange (TSE) Sound asset profile and appropriate capitalization for asset risks assumed Large exposure to Japanese Government Bonds (JGBs) and structured bonds Japan Securities Finance Co. Ltd. (JSF; A/Stable/A-1) is a securities finance company licensed to engage in the margin lending business, dealing with funds and stock certificates needed to settle margin transactions. JSF maintains considerable market strength as the sole securities finance company licensed to conduct margin lending for the TSE. The company's margin lending business provides about 50% of its revenues, but performance in this segment is highly correlated to market interest rates and margin transaction volumes. Even so, declines...
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.
Research Type: Full Analysis
Japan Securities Finance Co. Ltd.
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