TOKYO (Standard&Poor's) June 6, 2003--The financial profiles of Japan's five major integrated electronics companies continue to show weakness for their rating categories, despite some improvement in their operating performance in fiscal 2002, Standard&Poor's Ratings Services said in a new report published today. "The credit quality of the integrated electronics companies remains under pressure, and the ratings on the companies could be lowered if operational improvements are delayed," warned Standard&Poor's credit analyst Fusako Nagao, the author of the report. "Downgrades could also occur if refinancing risks or funding costs were to rise due to adverse developments in Japan's financial system, eroding the financial flexibility of the companies," Ms. Nagao added. Gains in fiscal 2002 (ended
