News Release

Oct. 23, 2026

JCR Affirmed A+/Stable and J-1 on JX Advanced Metals

JCR Affirmed A+/Stable and J-1 on Toyo Tire

JCR Affirmed A+/Stable Long-term Issuer Rating on SHIMIZU PRIVATE REIT

JCR Affirmed A+/Stable Long-term Issuer Rating on Canadian Solar Infrastructure Fund

JCR Affirmed A/Stable Long-term Issuer Rating on Enex Infrastructure Investment Corporation

JCR Affirmed A-/Stable Long-term Issuer Rating on Tokyo Infrastructure Energy Investment Corporation

JCR Assigned AA Rating to Bonds of Seven & i HD

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

JCR Assigned AAA Rating to Bonds of NTT TC Leasing

JCR Assigned AA- Rating to Bonds (Tier 2 with loss absorption clause) of Shoko Chukin Bank

JCR Assigned AA- Rating to Bonds of Hirogin HD

JCR Assigned AA- Rating to Bonds of Mizuho Leasing

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

[ Asset Securitization Products ] JCR Assigned Preliminary A+ to Beneficial Interest 202611

Oct. 22, 2026

JCR Solicits Public Comments on Revisions to "Rating Methodology for Multilateral Development Banks"

JCR's Rating Review of Air Transportation Companies

JCR Affirmed BBB+/Stable Long-term Issuer Rating on WARABEYA NICHIYO HD

JCR Affirmed A-/Stable Long-term Issuer Rating on San ju San Financial Group and San ju San Bank

JCR Assigned AA Rating to Bonds of JERA

JCR Assigned AA- Rating to Bonds of SAIBU GAS HD

JCR Assigned AA- Rating to Bonds of SMTB Leasing

[ Asset Securitization Products ] JCR Affirmed J-1 on Medical Treatment Fees Receivable ABL Program (Kyokuhoukai Medical Association, Asahikawa Sanai Hospital)

[ Asset Securitization Products ] JCR Affirmed J-1 on Medical Treatment Fees Receivable ABL Program (Seiwakai Medical Corporation, Ishii Hospital)

Oct. 21, 2026

JCR Affirmed AA/Stable (FC/LC) on Mapletree Investments

JCR Assigned AAA Rating to Bonds of JASSO

Oct. 20, 2026

JCR Affirmed A+/Stable and J-1 on TSUBAKIMOTO CHAIN

JCR Affirmed BBB+/Stable Long-term Issuer Rating on HARIMA CHEMICALS GROUP

Oct. 19, 2026

JCR Affirmed A-/Stable Long-term Issuer Rating on Mazda Motor

JCR Affirmed A-/Stable and J-1 on Mazda Credit

JCR Affirmed A-/Stable (FC) and A+/Stable (LC) on Mexico

Hokuhoku Financial Group: Evaluation of Conformity of Sustainable Deposit Framework

Oct. 16, 2026

JCR Affirmed A/Stable and J-1 on GUNZE

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

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

JCR Assigned A- Rating to Bonds of ICHINEN HD

JCR Assigned A- Rating to Bonds of Rakuten Group

JCR Assigned AAA Rating to Bonds of NTT FINANCE

JCR Assigned A Rating to Bonds of Bank of East Asia

Oct. 15, 2026

JCR Affirmed AA+/Stable and J-1+ on Mitsubishi Estate

JCR Affirmed A/Stable Long-term Issuer Rating on NISHIMATSUYA CHAIN

Oct. 14, 2026

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

JCR Assigned AA- Rating to Bonds of Odakyu Electric Railway

Oct. 13, 2026

JCR Upgraded Long-term Issuer Rating on ZENSHO HD to A/Stable; Affirmed J-1 on CP

JCR Upgraded FC Long-term Issuer Rating on Korea Investment & Securities to A/Stable

JCR Affirmed BB- Long-term Issuer Rating on Sharp; Revised Outlook to Positive

JCR's Rating Review of Blast Furnace Steel Manufacturers

JCR Affirmed AA/Stable Long-term Issuer Rating on Sanyo Special Steel

JCR Affirmed AA-/Stable Long-term Issuer Rating on East Japan Joint Power

JCR Assigned Preliminary AA Rating to Shelf Registration of Kyushu Electric Power

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

Oct. 09, 2026

Dai-ichi Life Diversified REIT and DL Life Partner REIT Entered Into a Merger Agreement - Limited Impact on Their Ratings as of Now

JCR Affirmed A+/Stable and J-1 on SUMITOMO CHEMICAL

JCR Affirmed BBB/Stable and J-2 on Taiyo Oil

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

JCR Affirmed A/Stable FC Long-term Issuer Rating on CPF (Thailand)

JCR Assigned AA+ Rating to Bonds of Kansai Electric Power

JCR Assigned A Rating to Bonds of TEPCO Renewable Power

JCR Assigned AA Rating to Bonds of Tohoku Electric Power

JCR Assigned AA- Rating to Bonds of Nippon Yusen

JCR Assigned AA- Rating to Bonds of Pan Pacific International HD

JCR Assigned AAA Rating to Bonds of TOYOTA FINANCE

JCR Assigned AA Rating to Bonds of Mizuho Bank

JCR Assigned AAA Rating to Bonds of Metropolitan Expressway

JCR Assigned AAA Rating to Bonds of West Nippon Expressway

JCR Assigned AAA Rating to Bonds of Hanshin Expressway

JCR Assigned Preliminary A+ Rating to Shelf Registration of SUMITOMO HEAVY INDUSTRIES

Sumitomo Mitsui Trust Bank: Second Opinion on Positive Impact Finance Framework (Review)

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

Oct. 08, 2026

JCR Assigned A- Rating to Bonds of OKUMURA

JCR Assigned A+ Rating to Bonds of Mitsui O.S.K. Lines

JCR Assigned A+ Rating to Bonds of JACCS

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

JCR Assigned AAA Rating to Bonds of Development Bank of Japan

JCR Assigned AA- Rating to Bonds of Global One Real Estate Investment Corporation

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

Oct. 07, 2026

JCR Assigned BBB/Stable FC Long-Term Issuer Rating to Philippine Airlines

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

JCR Affirmed AAA/Stable Long-term Issuer Rating on Tokyo Metro

JCR Affirmed AA+p/Stable on Ability to Pay Insurance Claims of Japan Earthquake Reinsurance

JCR Affirmed AAA/Stable Long-term Issuer Rating on African Development Bank; Assigned AAA to Bonds

JCR Affirmed A+/Stable Long-term Issuer Rating on Ichigo Office REIT Investment Corporation

JCR Assigned AA- Rating to Bonds of SoftBank

JCR Assigned Preliminary A Rating to Shelf Registration of KYUSHU LEASING SERVICE

[ Asset Securitization Products ] JCR Assigned Preliminary AAA to Investor Beneficial Interest and ABL of Astra I 2026

RE-INNOVATIONS, The Shoko Chukin Bank: Second Opinion on Positive Impact Finance

Oct. 06, 2026

JCR Affirmed BB+ and J-3 on Nippon Sheet Glass; Revised Outlook to Positive

JCR Affirmed A/Stable Long-term Issuer Rating on SHIP HEALTHCARE HD

JCR Affirmed A/Stable and J-1 on NEC Capital Solutions

Oct. 05, 2026

Japan: Climate Transition Bonds (Bond No.5, 10-Year, Issued in August 2026) — Evaluation: Green 1(T)

Aomori Michinoku Bank, AKITA BANK and Bank of Iwate to Start Deliberations Toward a Business Integration

JCR Affirmed A-/Stable Long-term Issuer Rating on Procrea HD and Aomori Michinoku Bank

JCR Affirmed AA+ Long-term Issuer Rating on Astellas Pharma; Revised Outlook to Stable

JCR Withdraws A+ Long-term Issuer Rating on SUNDRUG

Oct. 02, 2026

JCR Downgraded Rating on NIDEC to #A+/Negative; Continues Credit Monitor

Business Integration of TSUKISHIMA HD and Mitsubishi Kakoki - Future Developments Will Be Closely Watched to Be Reflected in the Rating

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

JCR Removed Credit Monitor; Downgraded Ratings on SMTB Leasing to AA-; Placed Stable Outlook; Affirmed J-1+

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

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

JCR Affirmed J-2 Rating on CP of TOKYO ELECTRON DEVICE