TOKYO (Standard&Poor's) April 1, 2004--Standard&Poor's Ratings Services today assigned its 'B' long-term corporate credit rating to the newly established general trading company Sojitz Corp. following the completion of consolidation of the former Nissho Iwai Corp. and Nichimen Corp., the core subsidiaries of Nissho Iwai-Nichimen Holdings Corp. The outlook on the long-term rating is stable. At the same time, Standard&Poor's withdrew its 'B' long-term corporate credit rating on Nissho Iwai Corp. and affirmed its senior unsecured debt ratings on the company at 'BB-'. The rating on Sojitz reflects the weak financial profiles of Nissho Iwai and Nichimen. The capital adequacy level of the new company has improved through injections of ¥273 billion mainly from a
