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Apr. 02, 2026: JCR Affirmed A/Stable and J-1 on Mitsui DM SugarNEW; JCR Affirmed BBB+/Stable and J-2 on GENDANEW; JCR Affirmed A-/Positive FC Long-term Issuer Rating on RenaultNEW; JCR Assigned AA to SPIRE SA Series 2026-247NEW; And Do Holdings, The Keiyo Bank: Second Opinion on Positive Impact FinanceNEW; GBtechnology, The Keiyo Bank: Second Opinion on Positive Impact FinanceNEW

Apr. 01, 2026: Revisions to Rating Methodology by Sector "Foods" and "Land Transportation"; Revisions to Rating Methodology by Sector "Life Insurance" and "Non-life Insurance" and "Rating Methodology for Financial Institutions' Capital and TLAC Instruments"; Revisions to Rating Methodology "Project Finance"; JCR Assigned A-/Stable Long-term Issuer Rating to Muninova HD; JCR Affirmed A+/Stable Long-term Issuer Rating on SKY Perfect JSAT; JCR Affirmed A/Stable and J-1 on NANKAI; JCR Affirmed BBB-/Stable Long-term Issuer Rating on HOWA BANK; JCR Affirmed A on SPIRE 2025-80; Hulic Real Estate Investment Advisors: Reviewed Green Finance Framework Evaluation: Green 1(F); Muninova Group: Reviewed Social Finance Framework Evaluation: Social 1(F); Mizuho Bank: Second Party Opinion on Mizuho Natural Capital Impact Finance -Evaluation Framework-; Mizuho Bank: Second Opinion on Positive Impact Finance Framework; Mizuho Bank: Second Party Opinion on Mizuho Human Capital Management Impact Finance Framework (Review); Mizuho Bank: Second Party Opinion on Mizuho Eco Finance 2025 Framework (Review); asbic, The Hokkaido Bank: Second Opinion on Positive Impact Finance

Mar. 31, 2026: JCR Placed Rating on Sumitomo Mitsui Trust Panasonic Finance under Credit Monitor #AA/Negative; INFRONEER HD's Wholly Owned Subsidiary Japan Wind Development Issues Preferred Shares - JCR Determines Equity Content to Be "Medium" or "50"; JCR Assigned A- Rating to Subordinated Loan of INFRONEER HD; JCR Assigned BBB+/Stable Long-term Issuer Rating to YOSHINOYA HOLDINGS; JCR Downgraded Long-term Issuer Rating on New World Development to A-/Stable (FC/LC); Change in CP Maximum Amount of Hankyu Hanshin HD; Affirmed J-1+; JCR Affirmed AA/Stable (FC/LC) on Spain; JCR Assigned BBB+ Rating to Subordinated Loan of DIC; JCR Assigned A- Rating to Subordinated Loan of Tokyu Fudosan HD; JCR Assigned A- Rating to Subordinated Loan of JA MITSUI LEASING; JCR Assigned Preliminary A+ Rating to Shelf Registration of Takashimaya; JCR Downgraded BRS Mega Solar Project Bond Trust 1 Beneficial Interest and Trust ABL to #BBB-/Negative; Placed Rating under Credit Monitor; [ Asset Securitization Products ] JCR Assigned AAA to Beneficial Interest 202603 (Contract No. 93-08006); Japan Real Estate Investment Corporation: Assigned Green Finance Framework Evaluation: Green 1(F); Abira Energy: Assigned Green Loan Framework Evaluation: Green 1(F); SHOKUSOU: Assigned Green Loan Evaluation: Green 1; ENIWAKOFUKAI: Assigned Social Loan Evaluation: Social 1; Shiga Prefecture: Second Party Opinion on Sustainability Linked Bond Framework; BIPROGY: Second Party Opinion on Sustainability Linked Loan Framework; THE SHIMIZU BANK: Second Opinion on Positive Impact Finance Framework (Review); The Norinchukin Bank: Second Opinion on Positive Impact Finance Framework (Review); KANKYO NO MIKATA, THE SHIMIZU BANK: Second Party Opinion on Sustainability Linked Loan; Toyo Seikan Group Holdings, Sumitomo Mitsui Trust Bank: Second Opinion on Positive Impact Assessment; TSUTAYA, The Chiba Bank: Second Opinion on Positive Impact Assessment; Hirano, The Chiba Bank: Second Opinion on Positive Impact Assessment; Touzaki, The Chiba Bank: Second Opinion on Positive Impact Assessment; TASUKI Holdings, The Chiba Bank: Second Opinion on Positive Impact Assessment; Nippon Dry-Chemical, Mizuho Bank: Second Opinion on Positive Impact Finance; YAMAWA HOLDINGS, Mizuho Bank: Second Opinion on Positive Impact Finance; COSMO ENERGY HOLDINGS, MUFG Bank: Second Opinion on Positive Impact Finance; Takashin, Aomori Michinoku Bank: Second Opinion on Positive Impact Finance; Marukatsu Ono Shoji, Aomori Michinoku Bank: Second Opinion on Positive Impact Finance; Friend, The Ashikaga Bank: Second Opinion on Positive Impact Finance; Japan Investment Adviser, The Senshu Ikeda Bank: Second Opinion on Positive Impact Finance; Kondo Equipment, The Kita-Nippon Bank: Second Opinion on Positive Impact Finance; HELPER STATION, THE SAITAMAKEN SHINKIN BANK: Second Opinion on Positive Impact Finance; Ichikawa Maintenance, San ju San Bank: Second Opinion on Positive Impact Finance; OOBU KOGYO, San ju San Bank: Second Opinion on Positive Impact Finance; KASUGAIKAKOUSYO, San ju San Bank: Second Opinion on Positive Impact Finance; Kofuku Senpaku, San ju San Bank: Second Opinion on Positive Impact Finance; sane, San ju San Bank: Second Opinion on Positive Impact Finance; SATOU CORPORATION, THE SHIZUOKA BANK: Second Opinion on Positive Impact Finance; SHINWA HOLDINGS, THE SHIZUOKA BANK: Second Opinion on Positive Impact Finance; Marutoku Shouji, THE SHIZUOKA BANK: Second Opinion on Positive Impact Finance; KENCHIKU KOBO DAN, THE SHIMIZU BANK: Second Opinion on Positive Impact Finance; sogodenki, The Juhachi-Shinwa Bank: Second Opinion on Positive Impact Finance; Okina, The Shoko Chukin Bank: Second Opinion on Positive Impact Finance; Oriental Foods, The Shoko Chukin Bank: Second Opinion on Positive Impact Finance; Numajiri HLDGS, The Shoko Chukin Bank: Second Opinion on Positive Impact Finance; SHINWA HOLDINGS, The Nanto Bank: Second Opinion on Positive Impact Finance; TENRI SYUSEIZAI, The Nanto Bank: Second Opinion on Positive Impact Finance; HANKEN WORKS, The Nanto Bank: Second Opinion on Positive Impact Finance; Motomura Kogyo, The Nanto Bank: Second Opinion on Positive Impact Finance; YAKUO Pharmaceutical, The Nanto Bank: Second Opinion on Positive Impact Finance; Taiko Fudosan, THE NISHI-NIPPON CITY BANK: Second Opinion on Positive Impact Finance; Hasuike Sekkei, Hamamatsu Iwata Shinkin Bank: Second Opinion on Positive Impact Finance; houkoku industry, The Hyakugo Bank: Second Opinion on Positive Impact Finance; INCLUDE COMMUNICATIONS, The Hokuriku Bank: Second Opinion on Positive Impact Finance; Hokkai Koyo Lumber, The Hokuriku Bank: Second Opinion on Positive Impact Finance; KISHIMOTOGUMI, The Hokkaido Bank: Second Opinion on Positive Impact Finance; Nichimen Auto System, The Hokkaido Bank: Second Opinion on Positive Impact Finance; Marusan Taishin Eletric, The Hokkaido Bank: Second Opinion on Positive Impact Finance; Hakujuji, The Chugoku Bank: Second Opinion on Positive Impact Finance; FUSO GROUP HOLDINGS, The Chugoku Bank: Second Opinion on Positive Impact Finance