News Release

Jul. 18, 2025: JCR Upgraded Rating on MITSUI E&S to BBB+/Stable; Affirmed J-2NEW; JCR Affirmed A-/Stable FC Long-term Issuer Rating on True CorporationNEW; JCR Affirmed A-/Stable (FC) and A+/Stable (LC) on MexicoNEW; JCR Affirmed A+/Stable Long-term Issuer Rating on Healthcare & Medical Investment CorporationNEW; JCR Assigned A+ Rating to Bonds of ES-CON JAPANNEW; JCR Assigned AA Rating to Bonds of Suntory HDNEW; JCR Assigned A Rating to Bonds of SENKO Group HDNEW; JCR Assigned BBB Rating to Subordinated Bonds of NIPRONEW; JCR Assigned A- Rating to Bonds of VALOR HDNEW; JCR Assigned A+ Rating to Bonds of Pan Pacific International HDNEW; JCR Assigned A Rating to Bonds (Tier 1 with loss absorption clause) of Mizuho Financial GroupNEW; JCR Assigned A+ Rating to Bonds of One REITNEW; JCR Assigned Preliminary AA- Rating to Shelf Registration of Concordia Financial GroupNEW; JCR Assigned A+ Rating to Jointly Operated Designated Money Trust N1 (2 years)NEW

Jul. 17, 2025: JCR Assigned BBB/Stable and J-2 to Hirose Tusyo; JCR Upgraded Long-term Issuer Rating on HOSOKAWA MICRON to A-/Stable; JCR Affirmed AA+/Stable Long-term Issuer Rating on DAIKIN INDUSTRIES; Nagano Prefecture: Second Party Opinion on Sustainability Linked Loan Framework; The Hachijuni Bank: Second Party Opinion on Sustainability Linked Loan Framework; Mikado Kagaku Sangyo, The Shoko Chukin Bank: Second Opinion on Positive Impact Finance

Jul. 16, 2025: JCR Assigned AA-/Stable Long-term Issuer Rating to CRE; JCR Upgraded Long-term Issuer Rating on Takara Leben Real Estate Investment Corporation to A+/Stable; JCR Affirmed AA-/Stable and J-1+ on Takeda Pharmaceutical; JCR Affirmed A+/Stable and J-1 on Yokohama Rubber; JCR Assigned AAA Rating to Bonds of West Nippon Expressway

Jul. 15, 2025: JCR Assigned A+/Stable Long-term Issuer Rating to Africa Finance Corporation; JCR Affirmed A- and J-1 on NIPPON STEEL KOWA REAL ESTATE; Revised Outlook to Positive; Change in CP Maximum Amount; JCR's Rating Review of Money Market Brokers; JCR Affirmed A/Stable and J-1 on Central Tanshi; JCR Affirmed A/Stable and J-1 on Tokyo Tanshi; JCR Affirmed A/Stable and J-1 on Ueda Yagi Tanshi; JCR Affirmed AA-/Stable Long-term Issuer Rating on Fukuoka REIT Corporation; JCR Assigned AA Rating to Bonds of Keio; JCR Assigned AAA Rating to Bonds of TOYOTA FINANCE; JCR Assigned AA- Rating to Bonds (Tier 2 with loss absorption clause) of Mitsubishi UFJ Financial Group; Japan: Assigned Climate Transition Bond Evaluation: Green 1(T); Canadian Solar Infrastructure Fund: Reviewed Green Finance Framework Evaluation: Green 1(F); Eiwa Sangyou, The Shoko Chukin Bank: Second Opinion on Positive Impact Finance

Jul. 14, 2025: JCR Affirmed A+ Long-term Issuer Rating on CRE Logistics REIT; Revised Outlook to Positive; JCR Affirmed A+/Stable Long-term Issuer Rating on Nishi-Nippon Railroad; JCR Affirmed A+/Stable and J-1 on LINTEC; JCR Affirmed BBB+/Stable (FC) and A-/Stable (LC) on Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara; JCR Affirmed AAAp/Stable Long-term Issuer Rating on European Bank for Reconstruction and Development; JCR Affirmed AA/Stable Long-term Issuer Rating on AEON REIT Investment Corporation; JCR Assigned A+ Rating to SPIRE SA Series 2025-352; JCR Assigned AA- to Sylph Limited Series 60231; JCR Affirmed A (fp) Fund Portfolio Rating on Renewable Trust

Jul. 11, 2025: JCR Affirmed A-/Stable Long-term Issuer Rating on IMPERIAL HOTEL; JCR Affirmed A/Stable and J-1 on Mitsui Mining and Smelting; JCR Affirmed AA-/Stable Long-term Issuer Rating on San-in Godo Bank; JCR Affirmed A+/Stable (FC) on NatWest Group and AA-/Stable (FC) on National Westminster Bank and NatWest Market; JCR's Rating Review of Five Expressway Companies
JCR Assigned AAA Rating to Bonds of Central Nippon Expressway; JCR Assigned A Rating to Bonds of UBE; JCR Assigned Preliminary A Rating to Shelf Registration of Sumitomo Osaka Cement; JCR Assigned Preliminary A+ Rating to Shelf Registration of NSK; Flowering, The Shoko Chukin Bank: Second Opinion on Positive Impact Finance

Jul. 10, 2025: JCR Upgraded Long-term Issuer Rating on ROYAL HD to BBB+/Stable; JCR Upgraded Long-term Issuer Rating on TOBU RAILWAY to A+/Stable; Assigned Preliminary A+ to Shelf Registration; JCR Affirmed A+ Long-term Issuer Rating on Keisei Electric Railway; Revised Outlook to Stable; JCR Affirmed AA/Stable Long-term Issuer Rating on Tokyo Waterfront Area Rapid Transit; JCR Affirmed A-/Stable and J-1 on UACJ; JCR Assigned A- Rating to Bonds of Kintetsu Group HD; JCR Assigned A+ Rating to Bonds of THK; JCR Assigned A+ Rating to Bonds of JGC HD; JCR Assigned AA- Rating to Bonds of LY Corporation; JCR Assigned Preliminary AA- Rating to Shelf Registration of ACOM; JCR Assigned AA- Rating to Bonds of Mizuho Leasing; JCR Assigned AAA Rating to Bonds of East Nippon Expressway; JCR Assigned AA- to Cypher Limited Series 567

Jul. 09, 2025: JCR Affirmed BBB+/Stable Long-term Issuer Rating on GREE HD; JCR Assigned A- Rating to Bonds of DyDo GROUP HD; JCR Assigned A+ Rating to Bonds of Tokyu Fudosan HD; JCR Assigned Preliminary A- Rating to Shelf Registration of COSMO ENERGY HD; JCR Assigned Preliminary BBB to Securities of STARTS (Ireland) PLC; JCR Assigned A Rating to Bonds of SPIRE SA Series 2025-351; Japan: Assigned Climate Transition Bond Preliminary Evaluation: Green 1(T)

Jul. 08, 2025: JCR Affirmed A+/Stable and J-1 on Daicel; JCR Affirmed A/Stable and J-1 on DIC; JCR Assigned AA- Rating to Bonds of Kyushu Electric Power; JCR Assigned A Rating to Bonds of NEC Capital Solutions; JCR Assigned Preliminary AA- Rating to Shelf Registration of JFE HD; JCR Assigned Preliminary AA+ Rating to Shelf Registration of Electric Power Development; JCR Assigned AA- to Sylph Limited Series 60229

Jul. 07, 2025: JCR Affirmed AA+p/Negative Long-term Issuer Rating on Astellas Pharma; JCR Affirmed A-/Stable and J-1 on SINANEN HD; JCR Assigned AA- Rating to Bonds of SPIRE SA Series 2025-64; Results of Review of Structured Finance Products (Excluding Those to Which Credit Ratings Are Assigned) June 2025

Jul. 04, 2025: JCR Upgraded Long-term Issuer Rating on KYORITSU MAINTENANCE to BBB+/Stable; JCR Affirmed AA-/Stable Long-term Issuer Rating on MORI BUILDING; Assigned J-1+ to CP; JCR's Rating Review of Major Non-Life Insurance Groups; JCR Affirmed AAA/Stable Long-term Issuer Rating on Tokio Marine HD; Affirmed AAA/Stable and J-1+ on Tokio Marine & Nichido Fire Insurance; JCR Affirmed AA+/Stable on Sompo HD and Sompo Japan Insurance; JCR Affirmed AA+/Stable Long-term Issuer Rating on MS&AD Insurance Group HD; Affirmed AA+/Stable and J-1+ on Mitsui Sumitomo Insurance and Aioi Nissay Dowa Insurance; JCR Affirmed A+/Stable FC Long-term Issuer Rating on America Movil; JCR Affirmed A/Stable and J-1 on PENTA-OCEAN CONSTRUCTION; JCR Affirmed A-/Stable Long-term Issuer Rating on HOKUTO; JCR Assigned AA Rating to Bonds of Tohoku Electric Power; JCR Assigned AA- Rating to Bonds of Hulic; JCR Assigned #AA-/Negative Rating to Bonds (Tier 2 with loss absorption clause) of Gunma Bank; JCR Assigned AA Rating to Bonds of Resona HD

Release Information: News Release; Issuer Reports; Reports relating to Issuer; JCR News