News Release

Jun. 13, 2025

JCR Assigned BBB+ Rating to Bonds of Acciona Financiacion Filiales

JCR Assigned A Rating to Bonds of SBI ARUHI

JCR Assigned AA Rating to Bonds of Sumitomo Mitsui Finance and Leasing

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

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

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

Jun. 12, 2025

JCR Assigned AAA Rating to Bonds of National University Corporation, the University of Tokyo

JCR Assigned A- Rating to Bonds of Rakuten Card

JCR Assigned AA Rating to Libra A Limited Series C112

Jun. 11, 2025

JCR Affirmed AA-/Stable Long-term Issuer Rating on Daiwa Residential Private Investment Corporation

JCR Assigned A+ Rating to Bonds of SUMITOMO HEAVY INDUSTRIES

JCR Assigned AA Rating to Bonds of TOKYU

JCR Assigned A+ Rating to Bonds of Nomura Real Estate HD

JCR Assigned Preliminary A+ Rating to Shelf Registration of THK

JCR Assigned Preliminary A+ Rating to Jointly Operated Designated Money Trust N1 (2 years)

Jun. 10, 2025

JCR Affirmed BBB-/Negative Long-term Issuer Rating on NIPPON CHEMI-CON

Jun. 09, 2025

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

Change in CP Maximum Amount of TOKYU; Affirmed J-1+

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

Results of Review of Structured Finance Products (Excluding Those to Which Credit Ratings Are Assigned) May 2025

Jun. 06, 2025

JCR Placed Rating on Makino Milling Machine under Credit Monitor #A-/Negative

JCR Affirmed A+ Long-term Issuer Rating on Invincible Investment Corporation; Revised Outlook to Positive

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

JCR Affirmed AAA/Stable (FC/LC) on Finland

JCR Affirmed AA+/Stable (FC/LC) on Hong Kong

JCR Assigned AA- Rating to Bonds of JERA

JCR Assigned A Rating to Bonds of Sumitomo Osaka Cement

JCR Assigned AA- Rating to Bonds of Takeda Pharmaceutical

JCR Assigned AA+ Rating to Bonds of Electric Power Development

JCR Assigned A+ Rating to Bonds (Tier 2 with loss absorption clause) and A- Rating to Bonds (Tier 1 with loss absorption clause) of Nomura HD

Jun. 05, 2025

New World Development Announced the Deferral of Perpetual Securities Interest Payments—Need to Watch Refinancing Progress

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

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

JCR Affirmed A-/Stable Long-term Issuer Rating on TONO SHINKIN BANK

JCR Affirmed A-/Stable (FC/LC) on Philippines

JCR Assigned A Rating to Bonds of TOYOBO

JCR Assigned A+ Rating to Bonds of JA MITSUI LEASING

JCR Assigned A+ Rating to Bonds of JACCS

JCR Assigned AA Rating to Bonds of Sumitomo Mitsui Trust Bank

JCR Assigned A Rating to Bonds (Tier 1 with loss absorption clause) of Mitsubishi UFJ Financial Group

JCR Assigned AA Rating to Bonds of Japan Freight Railway

Jun. 04, 2025

JCR Affirmed AA/Stable Long-term Issuer Rating on Hachijuni Bank and NAGANOBANK

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

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

Jun. 03, 2025

JCR Affirmed BBB on BRS Mega Solar Project Bond Trust 1 Beneficial Interest and Trust ABL

Jun. 02, 2025

Revisions of Rating Methodologies by Sector "Pulp and Paper," "Petroleum" and "Cement"

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

Change in CP Maximum Amount of Sojitz; Affirmed J-1

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

May. 30, 2025

NTT DOCOMO, subsidiary of NIPPON TELEGRAPH AND TELEPHONE, Makes SBI Sumishin Net Bank a Consolidated Subsidiary—No Immediate Impact on Rating; JCR Will Pay Attention to Investment Effects

ORIX to Issue Subordinated Bonds-Equity Content at "Medium" or "50" (Against 100 of a Stock)

JCR Placed Rating on AIN HD under Credit Monitor #A/Negative

JCR Placed Rating on SBI Sumishin Net Bank under Credit Monitor #A/Positive

JCR Assigned A Rating to Bonds of Peninsula Tokyo Finance Services

JCR's Rating Review of City Gas Companies

JCR Affirmed AA-/Stable Long-term Issuer Rating on Nitori HD

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

Change in CP Maximum Amount of Nomura Real Estate HD; Affirmed J-1

JCR Assigned BBB+ Rating to Subordinated Bonds of Tokyo Tatemono

JCR Assigned AA Rating to Bonds of Tohoku Electric Power

JCR Assigned AA- Rating to Bonds of Aflac

[ Asset Securitization Products ] JCR Assigned J-1+ to Hokuriku Bank A Corporation Bills & Electronically Recorded Receivables ABL 25-05

Hikarinomori Gakuen: Assigned Social Loan Framework Evaluation: Social 1(F)

EARTH MARKETING CORPORATION, The Joyo Bank: Second Party Opinion on Sustainability Linked Loan

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

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

TOYO STAINLESS POLISH INDUSTRY, The Shoko Chukin Bank: Second Opinion on Positive Impact Finance

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

okayama tochisoko, The Chugoku Bank: Second Opinion on Positive Impact Finance

NEXT ONE, The Chiba Bank: Second Opinion on Positive Impact Finance

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

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

Matsubori Real Estate, THE SAITAMAKEN SHINKIN BANK: Second Opinion on Positive Impact Finance

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

May. 29, 2025

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

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

JCR Affirmed AA-/Stable (FC) and AA/Stable (LC) on Czech Republic

JCR Assigned AA- Rating to Bonds of JFE Holdings

JCR Assigned A Rating to Bonds (Tier 1 with loss absorption clause) of Sumitomo Mitsui Trust Group

JCR Assigned A Rating to Bonds (Tier 1 with loss absorption clause) of Sumitomo Mitsui Financial Group

JCR Assigned AA- Rating to Bonds of RICOH LEASING

May. 28, 2025

JCR Upgraded Long-term Issuer Rating on TOMY to A-/Stable

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

JCR Affirmed BBB-/Stable Long-term Issuer Rating on Sankyo Tateyama

JCR Affirmed AA-/Stable Long-term Issuer Rating on Japan Private REIT

May. 27, 2025

JCR Upgraded Long-term Issuer Rating on OKAMURA to A+/Stable

Change in CP Maximum Amount of ISUZU MOTORS; Affirmed J-1

JCR Affirmed AA-/Stable Long-term Issuer Rating on DL Life Partner REIT

JCR Affirmed AA-/Stable and J-1+ on Sumitomo Metal Mining

JCR Assigned A Rating to SPIRE SA Series 2025-383

[ Asset Securitization Products ] JCR Assigned A to Senior Beneficial Interest 7931601 Series 9

Yatsushiro Toso, San ju San Bank: Second Opinion on Positive Impact Finance

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

May. 26, 2025

JCR Affirmed A+ Long-term Issuer Rating on Japan Hotel REIT Investment Corporation; Revised Outlook to Positive

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

JCR Affirmed BBB on Fasanara Securitisation

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

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

May. 23, 2025

JCR Affirmed AA-/Stable Long-term Issuer Rating on Maruichi Steel Tube

JCR Affirmed A+/Stable Long-term Issuer Rating on ROHTO PHARMACEUTICAL