Moody's: Okuma stable

Moody's Investors Service said it changed the outlook for Okuma Corp.'s B1 senior unsecured long-term debt rating to stable from negative.

The outlook change reflects Moody's view that Okuma's efforts to improve its earning structures should help stabilize its operating performance and increase its ability to withstand the next downturn of the machine tools industry cycle.

In recent years, Okuma has adopted various cost-cutting measures, including reducing inventory and procurement costs. It has also taken steps to increase production efficiency. Moreover, the company has tried to expand market share by introducing high value-added products to secure profitability.

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