Japan Securities Finance Company, Ltd http://www.alacrastore.com/company-snapshot/Japan_Securities_Finance_Company_Ltd-2106072 Tuesday, October 14, 2008 6:08:41 AM 2106072 Japan Securities Finance Company, Ltd en AlacraStore RSS Builder 1.0 30 http://www.alacrastore.com/storecontent/spcred/675857spcred/675857normThe latest News from S&Pglobal10/9/2008 4:31:12 AM100News675857JapanSpecialized FinanceAsiaGlobal IssuersFinancial InstitutionsNewsTOKYO (Standard&Poor's) Oct. 9, 2008--Standard&Poor's Ratings Services said today that its ratings on Japan Securities Finance Co. Ltd. (JSF; A/Stable/A-1) would not be affected by write-downs incurred at its consolidated subsidiary, JSF Trust and Banking Co. Ltd. (NR). On Oct. 7, 2008, JSF announced that JSF Trust and Banking had posted write-downs of ¥4.1 billion on its securities holdings, which exceeds the group's projected full-year consolidated net profit of ¥2 billion for fiscal 2008 (ending March 2009). But Standard&Poor's believes the losses incurred at the consolidated subsidiary would not have an immediate impact on the ratings on JSF in light of the following factors: -- We expect the balance between the JSF group's riskJPN40201040 402010 4020 40Japan Securities Finance Co. Ltd.367226ASIA8511@JPNEWSGLOBISSFICredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/bir/1198473bir/1198473normJapan Securities Finance Company Ltd.JapanFinance: Securities finance and data processing services.61595222989DI85118/13/2008 6:22:29 AM1198473Company Profiles & FinancialsGale Company Profileshttp://www.alacrastore.com/storecontent/spcred/655187spcred/655187normThe latest Full Report from S&Pglobal6/20/2008 4:33:45 AM400Full Report655187JapanSpecialized FinanceAsiaGlobal IssuersFinancial InstitutionsFull ReportLeading 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, declinesJPN40201040 402010 4020 40Japan Securities Finance Co. Ltd.367226ASIA8511@JPFULLGLOBISSFICredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/655188spcred/655188normThe latest Summary from S&Pglobal6/20/2008 4:33:45 AM175Summary655188JapanSpecialized FinanceAsiaGlobal IssuersFinancial InstitutionsSummaryJapan 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 in transaction volume or interest rates are unlikely to be severe enough to drive down the company's revenue to below the break-even point. In addition, the current license system is unlikely to be revised or abolished. Since the company shouldJPN40201040 402010 4020 40Japan Securities Finance Co. Ltd.367226ASIA8511@JPSUMMARYGLOBISSFICredit & Investment ResearchS&P Credit Research