JCR has affirmed the AA-/Stable, preliminary AA-, AA- and J-1+ rating on senior debts, shelf registration, each of the outstanding bonds, and CP program of the issuer, respectively.

Issuer: Ricoh Leasing Company, Ltd. (8566)
Senior debts: AA-/Stable
Shelf Registration: preliminary AA-
Maximum: Y100 billion
Valid: two years effective from Dec. 28, 2008
Issues Amount(bn) Issue Date Due Date Coupon Rating
bonds no.10 Y10 Dec. 8, 2006 Dec. 8, 2010 1.30% AA-
bonds no.11 Y35 Apr. 22, 2009 Apr. 22, 2014 1.473% AA-
bonds no.12 Y20 Jan. 21, 2010 Jan. 21, 2014 0.605% AA-
bonds no.13 Y20 May 21, 2010 May 21, 2015 0.608% AA-
CP: J-1+
Maximum: Y150 billion
Backup Line: 0%

<Rationale>
Ricoh Leasing Company, Ltd., which is a consolidated subsidiary of Ricoh Company, Ltd., has small-amount leasing and installment business for small business customers as its core business area. Its transactions of Ricoh products with Ricoh sales companies and dealerships account for more than half of its overall transaction volume. It has also close relations with the Ricoh Group in terms of human affairs and fund management for the Group. The ratings on the Company reflects its relationship with the Group, sound financial structure and stable business performance. The rating outlook is Stable on the back of these factors.