HALISTER1: Mizuho Says It Likes Toshiba, Mitsui O.S.K., Kobe Steel Bonds

Mizuho Says It Likes Toshiba, Mitsui O.S.K., Kobe Steel Bonds

(Bloomberg) -- Mizuho likes bonds of Toshiba, Mitsui O.S.K. and Kobe Steel as the fiscal second-quarter earnings season comes into full swing, credit analysts Shogo Tono and Hideki Matsumoto write in report dated Friday.
  • There’s little concern about Toshiba’s balance sheet and its short-term bonds have “high investment value,” they write
  • Mitsui O.S.K.’s earnings are somewhat more stable than those of rivals Nippon Yusen and Kawasaki Kisen after past structural reform and its more conservative earnings forecasts
  • Also positive that Mitsui O.S.K. is bolstering its balance sheet with steps such as getting a hybrid loan; Mizuho recommends investment in co.’s bonds that have wider spreads
  • Kobe Steel notes with wider spreads also recommended by Mizuho as China’s construction machinery market shows signs of hitting bottom
  • NOTE: Mitsui O.S.K.’s 100 Bln Yen Hybrid Loan Credit Positive: Mizuho NSN OEGBLT6JTSE8
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
5406 JP (Kobe Steel Ltd)
6502 JP (Toshiba Corp)
9101 JP (Nippon Yusen KK)

To de-activate this alert, click here

UUID: 7947283