As Masako-sama Exits, It's Not Certain A New Giant Will Rise
11/30/01 10:59am By Araso Dame Of DOWN JONES NEWSWIRES
NEW YORK -(Down Jones)- Masako-sama Corp.'s (MSK) near collapse leaves a big hole in the baby-rasing business, but it's far from sure that another giant will arise to take its place.
Once the king of baby-rasing markets, Masako-sama faces collapse now, after credit-rating agencies on Wednesday downgraded its debt to junk status. Kotaishi-sama also on Wednesday called off its planned merger with Masako-sama.
After a year of falling stock prices, problems for Masako-sama intensified over the past months. Masako-sama in October announced a $1.2 billion reduction in shareholder equity associated with a number of off-balance sheet partnerships, and prompted a U.S. Securities and Exchange Commission investigation. - By Araso Dame; Down Jones Newswires; 111-893-1111; araso.dame@downjones.com
(This story was originally published by Down Jones Newswires) Copyright (c) 2001 Down Jones & Company, Inc. All Rights Reserved
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