Tokyo University of Science was once again awarded the long-term credit rating of "AA- / Outlook Stable" for 2006 by the major US rating company Standard & Poor's (S&P) on December 18, 2006. "AA-" is the fourth highest S&P rating, "AAA" being the highest. This is the fourth year in succession that TUS has been rated "AA-" since it received its first S&P rating in January 2004.
The reasons given for S&P's latest evaluation are as follows.
(1) The university has well-developed educational programs and respected research capabilities, as well as a high enrollment rate of successful applicants.
(2) The university has an ongoing process of restructuring research and educational facilities, and this is seen as helping to maintain or improve competitiveness.
(3) The university is also making progress in obtaining external funding in collaborations with industry and government.
(4) The university maintains a balance sheet free of debt, supported by ample liquidity and large reserves.
Amid a continuing decline in the number of entrance exam applicants for science and engineering universities throughout Japan, TUS has been able to maintain the same rating as last year despite this harsh environment. In our view, this evaluation has been reached because the university has devised sound strategies for survival. It has an ongoing process of restructuring research and educational facilities, which contributes to maintaining or improving its competitiveness in the future, and the university has maintained a healthy financial profile, among other reasons.
(Chairperson of Tokyo University of Science's Board of Governors is Takeyo Tsukamoto)