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Moody's: Risk, profits for Japanese electronics
Successful and timely restructuring will help the Japanese integrated electronics companies rated by Moody's Investors Service, including Toshiba Corp. and Hitachi Ltd., strengthen market positions and improve profitability over the medium term, the agency said, while the companies' risk profiles may further diverge due to the differing directions of their portfolio strategies.
Domestically, social infrastructure is on a recovery trend and IT services remain relatively stable, Moody's said.
On the other hand, semiconductor and digital product businesses continue to face volatile market conditions and severe competition, pressuring the profitability of some companies, the agency said. Moody's said it believes the company's strategies regarding those businesses can largely impact the direction of their ratings going forward.
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