Standard & Poor's Corp. solidified its move into the Tokyo securities market last week with the hiring of Kiyoshi Udagawa as managing director of business development in Japan. Mr. Udagawa previously worked for the Japan Credit Rating Agency as managing director of business and general affairs.

Standard & Poor's has been in Tokyo for five years, and the addition of Mr. Udagawa should hlep "educate the marketplace about the value of debt ratings," the company says in a release.

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