News Release

Jul. 09, 2025

JCR Affirmed BBB+/Stable Long-term Issuer Rating on GREE HDNEW

JCR Assigned A- Rating to Bonds of DyDo GROUP HDNEW

JCR Assigned A+ Rating to Bonds of Tokyu Fudosan HDNEW

JCR Assigned Preliminary A- Rating to Shelf Registration of COSMO ENERGY HDNEW

JCR Assigned Preliminary BBB to Securities of STARTS (Ireland) PLCNEW

JCR Assigned A Rating to Bonds of SPIRE SA Series 2025-351NEW

Japan: Assigned Climate Transition Bond Preliminary Evaluation: Green 1(T)NEW

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

JCR Assigned Preliminary AA- Rating to Shelf Registration of ENEOS HD

Jul. 03, 2025

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

JCR Assigned AA Rating to Bonds of Chubu Electric Power

JCR Assigned A+ Rating to Bonds of YOKOHAMA MINATOMIRAI RAILWAY

JCR Assigned A+ Rating to Subordinated Loan of NIPPON STEEL

JCR Assigned AA Rating to Bonds of Sumitomo Mitsui Trust Panasonic Finance

JCR Assigned AA Rating to Bonds of Mitsubishi HC Capital

JCR Assigned AAA Rating to Bonds of Development Bank of Japan

JCR Assigned AA Rating to Bonds of Electricite de France

JCR Upgraded SPIRE SA Series 2022-324 and SPIRE SA Series 2023-271 to AA+

JCR Upgraded SPIRE SA Series 2025-08 to AA+

SMEs, The Bank of Kyoto: Second Party Opinion on Sustainability Linked Loan Framework (Review)

The Bank of Kyoto: Second Opinion on Sustainable Deposit Framework (Review)

Jul. 02, 2025

JCR Affirmed A-/Stable FC Long-term Issuer Rating on SAN MIGUEL

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

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

Jul. 01, 2025

Hulic Launches Tender Offer for Canadian Solar Infrastructure Fund—JCR Will Watch Outcome of TOB

JCR Affirmed BBB+/Positive Long-term Issuer Rating on Ferrotec

JCR Affirmed AA/Stable and J-1+ on Suntory HD

JCR Affirmed AA/Stable and J-1+ on Suntory Beverage & Food

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

JCR Affirmed A+/Stable Long-term Issuer Rating on Nochu JAML REIT Investment Corporation

JCR Assigned Preliminary A- Rating to Bonds of Far East Horizon

THE KAGOSHIMA BANK: Second Party Opinion on Kagin Sustainable Finance (Green Loan/Social Loan) Framework

Odazo Seihun, The Chugoku Bank: Second Opinion on Positive Impact Finance

Jun. 30, 2025

Change in CP Maximum Amount of Idemitsu Credit; Affirmed J-1

JCR Assigned A+ Rating to Subordinated Loan of DAIWA HOUSE INDUSTRY

[ Asset Securitization Products ] JCR Assigned J-1+ to Telecommunication Fee Receivable Securitization ABL Program (Japan Securitization Corporation_2506)

[ Asset Securitization Products ] JCR Assigned Preliminary AAA to Beneficial Interest 202508 (Contract No. 250048)

[ Asset Securitization Products ] JCR Assigned J-1+ to Hokuriku Bank A Corporation Bills & Electronically Recorded Receivables ABL 25-06

JCR Assigned AA- to Securitization of Leases Receivable from SB 202506

JCR Assigned AA- to Securitization of Loans Receivable from SB 202506

TOUWAKAI（Touma hospital）: Assigned Social Loan Framework Evaluation: Social 1(F)

The Senshu Ikeda Bank: Second Opinion on Sustainable Deposit Framework

Aomori Michinoku Bank: Second Opinion on Positive Impact Finance Framework

Mizuho Leasing, Mizuho Bank: Second Opinion on Positive Impact Finance

TAISHIN, The Hokkaido Bank: Second Opinion on Positive Impact Finance

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

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

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

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

Kyoshin, The Hachijuni Bank: Second Opinion on Positive Impact Finance

FPLAS, The Hachijuni Bank: Second Opinion on Positive Impact Finance

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

Jun. 27, 2025

JCR Assigned A+/Stable (FC/LC) to Abacus Group

JCR Upgraded Long-term Issuer Rating on Mitsubishi Heavy Industries to AA/Stable; Affirmed J-1+ on CP

JCR Assigned J-1 Rating to CP of Takasago Thermal Engineering

JCR Affirmed A/Stable Long-term Issuer Rating on Bank of Nagoya: Assigned J-1 to Short-term Issuer Rating

JCR Affirmed A Long-term Issuer Rating on OSG; Revised Outlook to Stable

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

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

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

JCR Assigned Preliminary BBB Rating to Subordinated Bonds of NIPRO

JCR Assigned A Rating to Bonds of Tokyo Tatemono

Japan: Reviewed Climate Transition Bond Framework Evaluation: Green 1(T)(F)

The Bank of Kyoto: Evaluation of Conformity of Sustainable Deposit

Taniguchi Shouji, THE BANK OF FUKUOKA: Second Opinion on Positive Impact Finance

LIZON, THE SAITAMAKEN SHINKIN BANK: Second Opinion on Positive Impact Finance

Jun. 26, 2025

JCR Assigned A-/Stable FC Long-term Issuer Rating to Eastern Water Resources Development and Management

JCR Affirmed A-/Stable Long-term Issuer Rating on DyDo GROUP HD

JCR Affirmed J-2 Rating on CP of KYOKUYO

JCR Assigned BBB Rating to Subordinated Loan of Nippon Paper Industries

JCR Assigned AA- to Kai Limited Series 80045

JCR Withdraws A- Long-term Issuer Rating on Benesse HD

Jun. 25, 2025

SBI Shinsei Bank’s Public Funds Are Expected to be Fully Repaid—No Impact on Rating

JCR Affirmed AA-/Stable and J-1+ on ACOM

JCR Affirmed AA/Stable Long-term Issuer Rating on Hulic Reit

JCR Affirmed AA-/Stable Long-term Issuer Rating on Hankyu Hanshin REIT

JCR Assigned AA to Libra A Limited Series C099