News Release

Jul. 14, 2026

JCR Assigned A-/Stable (FC/LC) to GT Capital HDNEW

JCR Affirmed A- and J-1 on UACJ; Revised Outlook to PositiveNEW

JCR Affirmed A- and J-1 on Kyoto Shinkin Bank; Revised Outlook to NegativeNEW

JCR Affirmed BBB+/Stable Long-term Issuer Rating on FUJIKURA KASEINEW

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

JCR Affirmed BBB-/Stable (FC) and BBB/Stable (LC) on BrazilNEW

JCR Affirmed A+/Stable Long-term Issuer Rating on Healthcare & Medical Investment CorporationNEW

Jul. 13, 2026

JCR Affirmed BBB+/Stable and J-2 on Daiei Real Estate & Development

JCR Affirmed AA+/Stable Long-term Issuer Rating on DAIKIN INDUSTRIES

JCR Assigned Preliminary A+ Rating to Shelf Registration of NICHIREI

Jul. 10, 2026

JCR Affirmed BBB+ Long-term Issuer Rating on KYORITSU MAINTENANCE; Revised Outlook to Positive

JCR Affirmed A-/Stable and J-1 on SINANEN HD

JCR Affirmed A+/Stable Long-term Issuer Rating on PERSOL HD

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

JCR Assigned AA- Rating to Bonds of ES-CON JAPAN

JCR Assigned A+ Rating to Bonds of YOKOHAMA MINATOMIRAI RAILWAY

JCR Assigned A- Rating to Bonds of Premium Group

JCR Assigned AA Rating to Bonds of Mitsubishi Estate Logistics REIT Investment Corporation

JCR Assigned Preliminary A Rating to Shelf Registration of SoftBank Group

Change in CP Maximum Amount of Sumitomo Electric Industries; Affirmed J-1+

Jul. 09, 2026

JCR Affirmed A/Stable and J-1 on DIC

JCR Assigned A+ Rating to Bonds of EXEDY

JCR Assigned A- Rating to Bonds of Kintetsu Group HD

JCR Assigned AA- Rating to Bonds of RICOH LEASING

JCR Assigned AAA Rating to Bonds of East Nippon Expressway

JCR Downgraded Rating on BRS Mega Solar Project Bond Trust 1 Beneficial Interest and Trust ABL to #BB+/Negative; Continues Credit Monitor

Results of Review of Structured Finance Products (Excluding Those to Which Credit Ratings Are Assigned) June 2026

Jul. 08, 2026

JCR Affirmed A+ and J-1 on NIKON; Revised Outlook to Negative

JCR Affirmed A-/Stable Long-term Issuer Rating on TOKYO ENERGY & SYSTEMS

JCR Affirmed AA/Stable Long-term Issuer Rating on Tokyo Waterfront Area Rapid Transit

JCR Affirmed A-/Stable Long-term Issuer Rating on Tokyo Kiraboshi Financial Group and Kiraboshi Bank

JCR Assigned AA Rating to Bonds of Suntory HD

JCR Assigned AAA Rating to Bonds of Central Nippon Expressway

JCR Assigned AAA Rating to Bonds of Development Bank of Japan

Jul. 07, 2026

SAPPORO BREWERIES to Enter Into a Strategic Partnership with Carlsberg - No Impact on the Rating

JCR Affirmed A+/Stable FC Long-term Issuer Rating on America Movil

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

JCR Affirmed AA+/Stable Long-term Issuer Rating on NARITA INTERNATIONAL AIRPORT

JCR Affirmed AA+/Stable Long-term Issuer Rating on NEW KANSAI INTERNATIONAL AIRPORT and KANSAI INTERNATIONAL AIRPORT LAND

JCR Affirmed AA-/Stable Long-term Issuer Rating on JINUSHI PRIVATE REIT

[ Asset Securitization Products ] JCR Affirmed AAA, BBB and A on MMJ Mortgage Trust II Senior Beneficial Interest and ABL

Jul. 06, 2026

JCR Affirmed AAAp/Stable Long-term Issuer Rating on European Bank for Reconstruction and Development

Jul. 03, 2026

JCR Upgraded FC/LC Long-term Issuer Rating on Canter Fizgerald, BGC Group and NEWMARK GROUP to A-/Stable

JCR Affirmed AA- Long-term Issuer Rating on San-in Godo Bank; Revised Outlook to Negative

JCR Affirmed A+/Stable and J-1 on Daicel

JCR Affirmed AA-/Stable Long-term Issuer Rating on NEC

JCR Affirmed AA/Stable Long-term Issuer Rating on Japan Logistics Fund

JCR Assigned AA+ Rating to Bonds of Kansai Electric Power

JCR Assigned A Rating to Bonds of Kobe Steel

JCR Assigned AA Rating to Bonds of Kyushu Electric Power

JCR Assigned A+ Rating to Bonds of Denka

JCR Assigned AA Rating to Bonds of Tohoku Electric Power

JCR Assigned AA Rating to Bonds of Marubeni

JCR Assigned AA Rating to Bonds of Resona HD

JCR Assigned Preliminary AA- Rating to Bonds (Tier 2 with loss absorption clause) of Mitsubishi UFJ Financial Group

JCR Assigned A- Rating to Bonds of Korea Investment & Securities

JCR Assigned BBB to CRED RN-D Cayman LLC

[ Asset Securitization Products ] JCR Upgraded Alice LTL Bond 2026/1 to Preliminary A-

JCR Assigned A+ to Earls Four Limited Series 1096

JCR Affirmed BBB- on Giga Solar Green Project Bond Trust (Fukushima) Beneficial Interest and Trust ABL

Jul. 02, 2026

JCR Affirmed AA-/Stable Long-term Issuer Rating on HEIWA REAL ESTATE REIT

JCR Assigned AA- Rating to Bonds (Tier 2 with loss absorption clause) of Mizuho Financial Group

North Pacific Bank: Second Party Opinion on Zero Carbon Ezo Finance Framework

Jul. 01, 2026

JCR Affirmed A-/Positive Long-term Issuer Rating on SAPPORO BREWERIES

JCR Assigned A+ Rating to Earls Eight Limited Series 917

[ Asset Securitization Products ] JCR Affirmed AA+ on Revolving Credit Card Shopping Senior Beneficial Interest

[ Asset Securitization Products ] JCR Affirmed J-1+ to Monthly Clear Receivable Securitization ABL Program and ABCP Program (without Backup Lines)

JCR Affirmed J-1+ to Monthly Clear Receivable Securitization ABCP Program (with Backup Lines)

Jun. 30, 2026

JCR Assigned AA-/Stable Long-term Issuer Rating to Norinchukin Bank

JCR Affirmed BBB+/Stable FC Long-term Issuer Rating on Acciona and BBB+ on Bonds of Acciona Financiacion Filiales

JCR Affirmed A+/Stable Long-term Issuer Rating on Okinawa Financial Group and Bank of Okinawa

JCR Affirmed AA/Stable Long-term Issuer Rating on ORIX JREIT

JCR Assigned J-1+ to Japan Securitization Corporation (ABCP program)

[ Asset Securitization Products ] JCR Assigned J-1+ to Hokuriku Bank A Corporation Bills & Electronically Recorded Receivables ABL 26-06

JCR Assigned AA- to Securitization of Leases Receivable from SB 202606

JCR Withdraws BBB+ Long-term Issuer Rating on ZUIKO

Fukuoka Financial Group: Second Party Opinion on Positive Impact Profile Framework

Daiei Real Estate & Development, Mizuho Bank: Second Opinion on Positive Impact Finance (Review)

Honey Sheet, The Ashikaga Bank: Second Opinion on Positive Impact Finance

MUGEN ESTATE, The Ashikaga Bank: Second Opinion on Positive Impact Finance

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

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

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

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

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

OKABE, The Hokuriku Bank: Second Opinion on Positive Impact Finance

SHUWA, The Nanto Bank: Second Opinion on Positive Impact Finance

LIVE LET, The Yamanashi Chuo Bank: Second Opinion on Positive Impact Finance

Jun. 29, 2026

JCR Affirmed AA- and J-1+ on Hokkaido Electric Power; Revised Outlook to Positive

JCR Assigned Preliminary A Rating to Subordinated Bonds of Hokkaido Electric Power

JCR Affirmed A/Stable Long-term Issuer Rating on KONICA MINOLTA

JCR Assigned AA+ and AA Ratings to Bonds of Egypt

JCR Assigned AAA Rating to Bonds of Arab Bank for Economic Development in Africa

JCR Assigned BBB Rating to Subordinated Loan of YOKOREI

[ Asset Securitization Products ] JCR Reviewed Beneficial Interest 202007 (Contract No. 210252), Beneficial Interest 202107 (Contract No. 210272), Beneficial Interest 202111 (Contract No. 210281), Beneficial Interest 202201 (Contract No. 210290), Beneficial Interest 202208 (Contract No. 210299), Beneficial Interest 202301 (Contract No. 210315) and Beneficial Interest 202307 (Contract No. 210327)and Beneficial Interest 202402 (Contract No. 210343)

KI-STAR REAL ESTATE, The Ashikaga Bank: Second Opinion on Positive Impact Finance

Jun. 26, 2026

JCR Affirmed BBB and J-2 on Financial Partners Group; Revised Outlook to Stable

JCR Affirmed AAA/Stable Long-term Issuer Rating on Central Japan Railway

JCR Affirmed AAAp/Stable and J-1+ on East Japan Railway

JCR Assigned Preliminary AA Rating to Shelf Registration of Hankyu Hanshin HD