|
|
 |
|
Viewing report
|
|
|
|
Cross-Market Commentary: A Review Of Japanese Corporate Cash Levels Mar 11
Standard & Poors, March 2011
Abstract
In the aftermath of the Japanese disaster, the Valuation and Risk Strategies research team decided to determine what resources are available to Japanese corporations in terms of cash on hand. We analyzed data from Capital IQ and reviewed the Japanese companies that have had the sharpest increases and largest percentage advances in accessible cash and short-term investments. We screened for nonfinancial companies in the Tokyo Stock Exchange's Nikkei 225 Index and retrieved available year-end 2010 data for balance sheet holdings of cash and short-term investments for the companies. We then compared the year-end 2010 results with the year-end 2009 results. Our findings are presented in the tables below. Note: while many Japanese companies end their fiscal year in March, for...
Companies mentioned in this report are: Canon Inc.,Panasonic Corp.,Mitsubishi Corp.,Mitsui & Co. Ltd.,Nippon Telegraph & Telephone Corp.,Sony Corp.,Honda Motor Co. Ltd.,Toyota Motor Corp.,Tokyo Electric Power Co. Inc.,Denso Corp.,Pioneer Corp.,Dentsu Inc.,Softbank Corp.,Sapporo Holdings Ltd.,West Japan Railway Co. ,Sumitomo Metal Mining Co. Ltd.,NTT DOCOMO Inc.,Yokohama Rubber 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.
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.
|
|
|
|
