News Release

Aug. 28, 2026

JCR Affirmed BBB/Stable Long-term Issuer Rating on TOYO KANETSU

JCR Affirmed BBB+/Stable Long-term Issuer Rating on Nippon Yakin Kogyo

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

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

JCR Assigned A Rating to Bonds of Kawasaki Kisen

JCR Assigned AA- Rating to Bonds (Tier 2 with loss absorption clause) of Sumitomo Mitsui Trust Group

JCR Assigned AA Rating to Bonds of Mitsubishi HC Capital

JCR Assigned A- Rating to Bonds of Mexico

Change in CP Maximum Amount of AEON Housing Loan Service; Affirmed J-1

[ Asset Securitization Products ] JCR Assigned AA- to Ascent Finance Limited Series 2026-1030

JCR Assigned AA- to SPIRE SA Series 2026-522

Fuyo General Lease: Post-execution Verification Report on Sustainability Linked Loan/Bond

Aug. 27, 2026

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

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

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

JCR Assigned A+ Rating to Bonds of SUMITOMO CHEMICAL

JCR Assigned A+ Rating to Bonds of Nagoya Railroad

JCR Assigned Preliminary A Rating to Shelf Registration of TEPCO Renewable Power

JCR Affirmed AA- on Jointly Operated Designated Money Trust N1 (2 years)

JCR Assigned AA to Libra A Limited Series C141-2

Advance Composite, THE SHIMIZU BANK: Second Opinion on Positive Impact Finance

Aug. 26, 2026

JCR Affirmed A-/Stable Long-term Issuer Rating on Japan Medical Alliance

JCR Affirmed A/Stable Long-term Issuer Rating on Nisshin OilliO Group

JCR Affirmed A/Stable Long-term Issuer Rating on TOMONY HD, TOKUSHIMA TAISHO BANK and KAGAWA BANK

JCR Assigned AA- Rating to Bonds of Fuyo General Lease

JCR Affirmed AAA/Stable and J-1+ on NTT FINANCE; Assigned Preliminary AAA to Shelf Registration

Aug. 25, 2026

JCR Affirmed BBB+ Long-term Issuer Rating on Sanken Electric; Revised Outlook to Negative

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

JCR Affirmed A-/Negative FC Long-term Issuer Rating on Canadian Solar

JCR Assigned A+ Rating to Bonds of ISUZU MOTORS

JCR Assigned A- Rating to Bonds of J-OIL MILLS

JCR Assigned AA- Rating to Bonds of ACOM

JCR Assigned Preliminary A+ Rating to Shelf Registration of Tokyo Tatemono

Change in Maximum Amount of EMTN Program of Sumitomo Mitsui Financial Group and Sumitomo Mitsui Banking; Affirmed AA and AA- on Sumitomo Mitsui Financial Group, AA and J-1+ on Sumitomo Mitsui Banking

JCR Assigned AA- to Ascent Finance Limited Series 2026-0012

Mizuho Bank: Evaluation of Conformity of Impact Deposit Framework

Hulic: Post-issuance Verification Report on Sustainability Linked Bond (Bonds no. 10)

Aug. 24, 2026

JCR Affirmed BBB+/Stable Long-term Issuer Rating on DAIKI ALUMINIUM INDUSTRY

JCR Affirmed AA/Stable Long-term Issuer Rating on TOYOTA BOSHOKU

JCR Affirmed A/Stable and J-1 on HEIWADO

JCR Affirmed A-/Stable and J-1 on NIPRO

JCR Affirmed BBB+/Stable Long-term Issuer Rating on FIDEA HD, SHONAI BANK and Hokuto Bank

JCR Affirmed AA+/Stable Long-term Issuer Rating on Toa Reinsurance

JCR Affirmed AA-/Stable Long-term Issuer Rating on Global One Real Estate Investment Corporation

FUKUCHI INDUSTRIES, The Hokkaido Bank: Second Opinion on Positive Impact Finance

Aug. 21, 2026

JCR Affirmed A-/Stable and J-1 on Daio Paper

JCR Affirmed BBB+/Stable Long-term Issuer Rating on Tokushu Tokai Paper

JCR Affirmed BB/Stable (FC/LC) on Republic of Turkiye

JCR Assigned AA+ Rating to Bonds of ITOCHU

JCR Assigned AAA Rating to Bonds of West Nippon Expressway

Aug. 20, 2026

JCR Affirmed AA- and J-1+ on Meiji HD; Revised Outlook to Positive

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

JCR Affirmed AA-/Stable and J-1+ on MORI BUILDING

JCR Assigned AAA Rating to Bonds of JASSO

JCR Assigned Preliminary AA Rating to Shelf Registration of Sumitomo Mitsui Finance and Leasing

JCR Assigned AA+ to SPIRE SA Series 2026-490

JCR Assigned AA- to Bonds of HARP Issuer PLC Series 552

JCR Assigned AA- to Bonds of HARP Issuer PLC Series 553

THE SHIZUOKA BANK: Second Party Opinion on Shizugin Environment Finance Framework

HAC, The Juhachi-Shinwa Bank: Second Opinion on Positive Impact Finance

Aug. 19, 2026

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

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

Aug. 18, 2026

JCR Upgraded Long-term Issuer Rating on RENOVA to BBB+/Stable

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

JCR Affirmed AAA/Stable Long-term Issuer Rating on Inter-American Development Bank

JCR Assigned AAA Rating to Bonds of TOYOTA FINANCE

[ Asset Securitization Products ] JCR Assigned Preliminary AAA to Beneficial Interest 202609 (Contract No. 94-82002)

Aug. 17, 2026

JCR Affirmed AA+/Stable and J-1+ on Electric Power Development

JCR Assigned Preliminary AA Rating to Shelf Registration of Sumitomo Realty & Development

JCR Assigned Preliminary AA- Rating to Shelf Registration of Hokkaido Electric Power

Aug. 14, 2026

JCR Upgraded Rating on Daishi Hokuetsu Financial Group and Daishi Hokuetsu Bank to #AA-/Positive; Continues Credit Monitor

JCR Affirmed #AA/Negative on Gunma Bank; Continues Credit Monitor

JCR Assigned Preliminary AA+ Rating to Shelf Registration of JAPAN TOBACCO

JCR Assigned Preliminary AA+ Rating to Shelf Registration of Mitsubishi Estate

Joint Green Bond Issuers (Local Governments): Assigned Green 1(Preliminary) to Joint Local Government Green Bond 8th

KUOE GLOBAL, THE KYOTO CHUO SHINKIN BANK: Second Opinion on Positive Impact Finance

Aug. 13, 2026

JCR Affirmed AAA/Stable (FC/LC) on United States of America

JCR Downgraded Rating on SPARX Biomass Green Project Bond Trust (Toki) to #BB/Negative; Continues Credit Monitor

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

Aug. 12, 2026

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

Tacoal, The Nanto Bank: Second Opinion on Positive Impact Finance

Aug. 10, 2026

JCR Affirmed A+/Stable and J-1 on Nomura Real Estate HD; Change in CP Maximum Amount

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

JCR Affirmed AA Rating on EMTN Program of MUFG Securities EMEA

Aug. 07, 2026

JCR Assigned J-1 Rating to CP of PERSOL HD

JCR Affirmed AA-/Stable Long-term Issuer Rating on ES-CON JAPAN

JCR Affirmed A-/Stable Long-term Issuer Rating on KYOEI STEEL

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

JCR Affirmed AA-/Stable and J-1+ on Takeda Pharmaceutical

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

JCR Assigned AA+ Rating to Bonds of Kansai Electric Power

JCR Assigned Preliminary A Rating to Subordinated Bonds of Sumitomo Forestry

JCR Assigned A Rating to Bonds of Chuo-Nittochi Group

JCR Assigned A+ Rating to Bonds of Orient Corporation

JCR Assigned AA- Rating to Bonds of Sumitomo Mitsui Auto Service

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

ARAKAWA CHEMICAL INDUSTRIES: Post-issuance Verification Report on Sustainability Linked Bond

Daiichi Fujie, The Joyo Bank: Second Party Opinion on Sustainability Linked Loan

MUGEN ESTATE, THE NISHI-NIPPON CITY BANK: Second Opinion on Positive Impact Finance

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