News Release

Jul. 24, 2026

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

JCR Affirmed Ap/Stable Long-term Issuer Rating on artience

JCR Affirmed A+/Stable Long-term Issuer Rating on Nishi-Nippon Railroad

JCR Affirmed #A/Positive on Bank of Nagoya; Continues Credit Monitor

JCR Assigned BBB+ Rating to Bonds of Ichigo

JCR Assigned A Rating to Bonds of COSMO ENERGY HD

JCR Assigned BBB+ Rating to Bonds of GREE HD

JCR Assigned A- Rating to Bonds of SKYLARK HD

JCR Assigned AA+ Rating to Bonds of DAIKIN INDUSTRIES

JCR Assigned A+ Rating to Bonds of TAIHEIYO CEMENT

JCR Assigned AA+ Rating to Bonds of Electric Power Development

JCR Assigned A Rating to Bonds of West African Development Bank

JCR Assigned Preliminary AA- Rating to Shelf Registration of Fuyo General Lease

JCR Assigned Preliminary AA- and Preliminary A Ratings to Shelf Registration of Sumitomo Mitsui Trust Group

[ Asset Securitization Products ] JCR Assigned Preliminary BBB to IDOM202608

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

Jul. 23, 2026

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

JCR Affirmed A+/Stable and J-1 on TAIHEIYO CEMENT

JCR Affirmed A-/Stable Long-term Issuer Rating on HOSOKAWA MICRON

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

JCR Affirmed AAA/Stable FC Long-term Issuer Rating on Quebec

JCR Assigned A Rating to Subordinated Bonds of Hokkaido Electric Power

JCR Assigned AA- Rating to Bonds of Mizuho Leasing

JCR Assigned Preliminary AA- and A- Ratings to Shelf Registration of Daiwa Securities Group

Hoshino Resorts REIT: Post-execution Verification Report on Sustainability Linked Loan

Jul. 22, 2026

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

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

JCR Affirmed AA-/Stable Long-term Issuer Rating on CRE

JCR Affirmed BB+/Stable Long-term Issuer Rating on YAMADA SERVICER SYNTHETIC OFFICE

JCR Affirmed S3 Special Servicer Rating on YAMADA SERVICER SYNTHETIC OFFICE

JCR Affirmed BBB+/Stable (FC/LC) on REC

Jul. 21, 2026

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 BBB+/Stable Long-term Issuer Rating on Central Tanshi FX

JCR Affirmed A+/Stable Long-term Issuer Rating on Africa Finance Corporation

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

Jul. 17, 2026

JCR Assigned A/Stable (FC/LC) to LS Corp.

JCR Upgraded Long-term Issuer Rating on Mitsui Kinzoku to A+/Stable; Affirmed J-1 on CP

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

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

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

JCR Assigned A Rating to Bonds of ANA HD

JCR Assigned BBB+ Rating to Bonds of Integrasi Jaringan Ekosistem

JCR Assigned A+ Rating to Bonds of Takashimaya

JCR Assigned AA Rating to Bonds of Chugoku Electric Power

JCR Assigned A Rating to Bonds of TEPCO Power Grid

JCR Assigned A Rating to Bonds of Hokuetsu Corporation

JCR Assigned AA- Rating to Bonds of LY Corporation

JCR Assigned AAA Rating to Bonds of NTT TC Leasing

JCR Assigned AA- Rating to Bonds of Credit Saison

JCR Assigned AAA Rating to Bonds of TOYOTA FINANCE

JCR Assigned A- Rating to Bonds of Premium Group

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

JCR Assigned AA Rating to Bonds of KDX Realty Investment Corporation

JCR Affirmed BBB+ on Jointly Operated Designated Money Trust NF1

JCR Affirmed BBB+ on Jointly Operated Designated Money Trust NF2

Izumiyama Ringyo, Aomori Michinoku Bank: Second Opinion on Positive Impact Finance

Jul. 16, 2026

JCR Assigned J-1+ Rating to CP of TAISEI

JCR Affirmed A/Stable and J-1 on PENTA-OCEAN CONSTRUCTION

JCR Affirmed A-/Stable FC Long-term Issuer Rating on True Corporation

JCR Assigned A+ Rating to Bonds of Tokyu Fudosan HD

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

JCR Assigned Preliminary A- to NEPTUNE LEASING1 CO., LTD./NEPTUNE LEASING2 CO., LTD. ABL

Jul. 15, 2026

JCR Assigned BBB/Stable (FC/LC) to Piramal Finance

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

JCR Affirmed AA-/Stable (FC/LC) on Chile

JCR Assigned AA+ Rating to Bonds of Kansai Electric Power

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

Jul. 14, 2026

JCR Assigned A-/Stable (FC/LC) to GT Capital HD

JCR Affirmed A- and J-1 on UACJ; Revised Outlook to Positive

JCR Affirmed A- and J-1 on Kyoto Shinkin Bank; Revised Outlook to Negative

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

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

JCR Affirmed BBB-/Stable (FC) and BBB/Stable (LC) on Brazil

JCR Affirmed A+/Stable Long-term Issuer Rating on Healthcare & Medical Investment Corporation

Jul. 13, 2026

JCR Affirmed BBB+/Stable and J-2 on Daiei Real Estate & Development

JCR Affirmed AA+/Stable Long-term Issuer Rating on DAIKIN INDUSTRIES

JCR Assigned Preliminary A+ Rating to Shelf Registration of NICHIREI

Jul. 10, 2026

JCR Affirmed BBB+ Long-term Issuer Rating on KYORITSU MAINTENANCE; Revised Outlook to Positive

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

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

JCR Affirmed AA/Stable Long-term Issuer Rating on AEON REIT Investment Corporation

JCR Assigned AA- Rating to Bonds of ES-CON JAPAN

JCR Assigned A+ Rating to Bonds of YOKOHAMA MINATOMIRAI RAILWAY

JCR Assigned A- Rating to Bonds of Premium Group

JCR Assigned AA Rating to Bonds of Mitsubishi Estate Logistics REIT Investment Corporation

JCR Assigned Preliminary A Rating to Shelf Registration of SoftBank Group

Change in CP Maximum Amount of Sumitomo Electric Industries; Affirmed J-1+

Jul. 09, 2026

JCR Affirmed A/Stable and J-1 on DIC

JCR Assigned A+ Rating to Bonds of EXEDY

JCR Assigned A- Rating to Bonds of Kintetsu Group HD

JCR Assigned AA- Rating to Bonds of RICOH LEASING

JCR Assigned AAA Rating to Bonds of East Nippon Expressway

JCR Downgraded Rating on BRS Mega Solar Project Bond Trust 1 Beneficial Interest and Trust ABL to #BB+/Negative; Continues Credit Monitor

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

Jul. 08, 2026

JCR Affirmed A+ and J-1 on NIKON; Revised Outlook to Negative

JCR Affirmed A-/Stable Long-term Issuer Rating on TOKYO ENERGY & SYSTEMS

JCR Affirmed AA/Stable Long-term Issuer Rating on Tokyo Waterfront Area Rapid Transit