News Release

Feb. 27, 2026

JCR Assigned A/Stable Long-term Issuer Rating to TaikishaNEW

JCR Upgraded Long-term Issuer Rating on Daiwabo HD to A+/StableNEW

JCR Affirmed BBB+/Stable FC Long-term Issuer Rating on Indofood CBP Sukses MakmurNEW

JCR Affirmed A/Stable and J-1 on Aozora BankNEW

JCR Affirmed AA-/Stable and J-1+ on Credit SaisonNEW

JCR Affirmed AA-/Stable Long-term Issuer Rating on SOSiLA Logistics REITNEW

JCR Assigned A Rating to Bonds of NIPPNNEW

JCR Assigned A Rating to Bonds of JAPAN NUCLEAR FUELNEW

JCR Assigned A+ Rating to Bonds of HIKARI TSUSHINNEW

JCR Assigned A Rating to Bonds of KYUSHU LEASING SERVICENEW

JCR Assigned AA- Rating to Bonds of Mizuho LeasingNEW

JCR Assigned AA Rating to Bonds of Mitsubishi HC CapitalNEW

JCR Assigned Preliminary AA Rating to Shelf Registration of Kyushu Electric PowerNEW

JCR Affirmed AA on Long-term Issue Rating of Asagao Credit Service LLCNEW

[ Asset Securitization Products ] JCR Affirmed A on Beneficial Interest (202502)NEW

[ Asset Securitization Products ] JCR Assigned A+ to US real estate secured loan securitization 2026-02NEW

JCR Withdraws BBB+ Long-term Issuer Rating on SBI FinTech SolutionsNEW

HEIWA REAL ESTATE: Assigned Sustainability Finance Framework Evaluation: SU 1(F)NEW

FCN, The Joyo Bank: Second Party Opinion on Sustainability Linked LoanNEW

EIWAT, The Senshu Ikeda Bank: Second Opinion on Positive Impact FinanceNEW

Precious, THE SAITAMAKEN SHINKIN BANK: Second Opinion on Positive Impact FinanceNEW

Chinrai Sohonten, THE SAITAMAKEN SHINKIN BANK: Second Opinion on Positive Impact FinanceNEW

SHUWA, San ju San Bank: Second Opinion on Positive Impact FinanceNEW

FBM, The Shoko Chukin Bank: Second Opinion on Positive Impact FinanceNEW

ANUZIK, The Shoko Chukin Bank: Second Opinion on Positive Impact FinanceNEW

Kagawa Electric Power Company, The Shoko Chukin Bank: Second Opinion on Positive Impact FinanceNEW

SANKI SEIKO, The Shoko Chukin Bank: Second Opinion on Positive Impact FinanceNEW

Sublimation, The Tama Shinkin Bank: Second Opinion on Positive Impact FinanceNEW

Seibo Maria Gakuen, Hachijuni Nagano Bank: Second Opinion on Positive Impact FinanceNEW

R studio, Hamamatsu Iwata Shinkin Bank: Second Opinion on Positive Impact FinanceNEW

EC-SELVICE, The Hiroshima Bank: Second Opinion on Positive Impact FinanceNEW

Minami Holdings, The Hokuriku Bank: Second Opinion on Positive Impact FinanceNEW

Feb. 26, 2026

Rakuten Group Resumes Discussion on FinTech Business Reorganization - Will Watch the Group Structure After Restructuring

JCR Affirmed A/Stable Long-term Issuer Rating on AEON

JCR Affirmed A/Stable Long-term Issuer Rating on AEON Mall

JCR Affirmed A/Stable and J-1 on AEON KYUSHU

JCR Affirmed A/Stable and J-1 on AEON Financial Service

JCR Affirmed A/Stable and J-1 on AEON Housing Loan Service

JCR Assigned AA- Rating to Bonds of Fuyo General Lease

JCR Assigned AA- to SPIRE SA Series 2026-90

Feb. 25, 2026

JCR Assigned A-/Stable Long-term Issuer Rating to Suruga Bank

JCR Affirmed AA/Stable Long-term Issuer Rating on Mitsubishi Estate Logistics REIT Investment Corporation

JCR Assigned A+ Rating to Bonds of Tokyu Fudosan HD

JCR Assigned Preliminary AA Rating to Shelf Registration of Tokyo Century

[ Asset Securitization Products ] JCR Assigned Preliminary A+ to US real estate secured loan securitization 2026-03

Fujimak: Assigned Green Loan Framework Evaluation: Green 1(F)

YOKOHAMA MINATOMIRAI RAILWAY: Evaluation of Conformity of Long term Loan and Bonds no. 12 to Green Finance Framework

Feb. 24, 2026

JCR Upgraded Long-term Issuer Rating on Pan Pacific International HD to AA-/Stable

JCR Upgraded Long-term Issuer Rating on UCS to AA-/Stable

JCR Assigned BBB Rating to Subordinated Loan of ZENSHO HD

Sankyo Tateyama: Post-execution Verification Report on Sustainability Linked Loan

Feb. 20, 2026

JCR Affirmed A+/Stable and J-1 on Sumitomo Bakelite

JCR Affirmed A/Stable and J-1 on TOYOBO

JCR Affirmed A+/Stable Long-term Issuer Rating on AKITA BANK

JCR Assigned A Rating to Bonds of Tokyo Tatemono

JCR Assigned A Rating to Bonds of TEPCO Renewable Power

JCR Assigned AA- Rating to Bonds of TOYODA GOSEI

JCR Assigned AA Rating to Bonds of Mitsubishi HC Capital

JCR Assigned A Rating to Bonds (Tier 1 with loss absorption clause) of Shoko Chukin Bank

[ Asset Securitization Products ] JCR Assigned J-1 to Class B Specified Loan Program (No.100055)

Asagiri, THE SHIMIZU BANK: Second Opinion on Positive Impact Finance

ADTEC, The Shoko Chukin Bank: Second Opinion on Positive Impact Finance

Kagawa Eco Recycle, The Shoko Chukin Bank: Second Opinion on Positive Impact Finance

Feb. 19, 2026

JCR Upgraded Long-term Issuer Rating on Asahi Mutual Life Insurance to A/Stable

JCR Affirmed AA-/Stable and J-1+ on Fuyo General Lease and Sharp Finance

JCR Affirmed AA/Stable Long-term Issuer Rating on NTT UD REIT Investment Corporation

JCR Affirmed A-/Stable Long-term Issuer Rating on Nippon Hotel & Residential Investment Corporation

JCR Assigned A Rating to Bonds of Kobe Steel

JCR Assigned A- Rating to Bonds (Tier 1 with loss absorption clause) of Nomura HD

JCR Assigned A+ Rating to Bonds of Hoshino Resorts REIT

Change in CP Maximum Amount of Sumitomo Metal Mining; Affirmed J-1+

[ Asset Securitization Products ] JCR Assigned J-3 to Narasaki Stax Accounts Receivable ABL 26-02

JCR Assigned AA to Oxygen Capital Limited Series 183-4

KISHIKAWA SEISAKUSHO, The Juhachi-Shinwa Bank: Second Opinion on Positive Impact Finance

Feb. 18, 2026

AIR WATER Releases the Investigation Report of the Special Investigating Committee, Revised Financial Forecast, Etc. - Limited Impact on the Rating, but Future Developments to Be Closely Watched

JCR Upgraded Long-term Issuer Rating on MEIDENSHA to A/Stable; Affirmed J-1 on CP

JCR Affirmed A/Stable Long-term Issuer Rating on Senshu Ikeda Bank

JCR Affirmed AA/Stable Long-term Issuer Rating on Japan Metropolitan Fund Investment Corporation

JCR Assigned Preliminary A+ Rating to Shelf Registration of SUGI HD

[ Asset Securitization Products ] JCR Affirmed J-1 on Medical Treatment Fees Receivable ABL Program (R Hospital)

[ Asset Securitization Products ] JCR Assigned BBB- to SPIRE SA Series 2026-240

JCR Withdraws BBB+ Long-term Issuer Rating on PACIFIC INDUSTRIAL

Meiji Holdings, Sumitomo Mitsui Trust Bank: Second Opinion on Positive Impact Finance

Feb. 17, 2026

DyDo GROUP HD Recognized Impairment Loss - Will Watch the Performance Trend of Domestic Beverage Business

TAKARA HD Announces Commencement of A Tender Offer for Shares of TAKARA BIO - Limited Impact on TAKARA HD's Rating

JCR Placed Rating on TAKARA BIO under Credit Monitor #A/Positive

JCR Upgraded Long-term Issuer Rating on Nojima to A/Stable; Affirmed J-1

JCR Affirmed AA-/Stable Long-term Issuer Rating on Sumitomo Warehouse

JCR Affirmed AA/Stable and J-1+ on Sumitomo Electric Industries

JCR Affirmed AA-/Stable Long-term Issuer Rating on DHLCF GK

JCR Assigned AAA Rating to Bonds of NTT TC Leasing

Feb. 16, 2026

KOHNAN SHOJI Commences A Tender Offer for Alleanza HD - No Immediate Impact on the Rating

JCR Affirmed AAA/Stable Long-term Issuer Rating on NTT

JCR Affirmed BBB/Stable FC Long-term Issuer Rating on Indomarco Prismatama

JCR Affirmed A+/Stable FC Long-term Issuer Rating on Marubeni Equipment Finance (Oceania)

JCR Affirmed AA/Stable Long-term Issuer Rating on KDX Realty Investment Corporation

JCR Assigned AA to SPIRE SA Series 2026-244

[ Asset Securitization Products ] JCR Assigned Preliminary AAA to Beneficial Interest 202603 (Contract No. 93-08006)

DaisenUnyu, Aomori Michinoku Bank: Second Opinion on Positive Impact Finance

Feb. 13, 2026

THK Posts Net Loss - No Immediate Impact on the Rating