News Release

Apr. 22, 2025

Nomura HD Acquires Macquarie's U.S. Asset Management Company—No Immediate Impact on RatingNEW

JCR Affirmed A/Stable Long-term Issuer Rating on SBI Sumishin Net BankNEW

JCR Affirmed BBB/Positive Long-term Issuer Rating on TOTTORI BANKNEW

JCR Affirmed BBB+/Stable and J-2 on MARUDAI FOODNEW

JCR Assigned Preliminary AA- Rating to Shelf Registration of Takeda PharmaceuticalNEW

[ Asset Securitization Products ] JCR Assigned J-3 to Narasaki Stax Accounts Receivable ABL 25-04NEW

JCR Assigned AA- Rating to Ganymede Limited Series 2025-16NEW

Apr. 21, 2025

JCR Affirmed A+/Stable FC Long-term Issuer Rating on CITIC Securities International

JCR Affirmed AAAp/Stable and J-1+ on East Japan Railway

JCR Affirmed BBB+/Stable Long-term Issuer Rating on Sanyo Electric Railway

Apr. 18, 2025

JCR Affirmed BBB/Negative Long-term Issuer Rating on YOROZU

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

JCR Affirmed A/Stable Long-term Issuer Rating on ESR Japan REIT

JCR Assigned A Rating to Bonds of SoftBank Group

JCR Assigned AA Rating to Bonds of Tokyo Waterfront Area Rapid Transit

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

Diamond Realty Management: Assigned Green Finance Framework Evaluation: Green 1(F)

Mizuho Bank: Second Party Opinion on Sustainability Linked Loan Framework

Apr. 17, 2025

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

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

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

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

JCR Assigned AA- Rating to Bonds of JERA

JCR Assigned AA- Rating to Bonds of NIPPON REIT Investment Corporation

JCR Assigned AAA Rating to Bonds of East Nippon Expressway

JCR Assigned Preliminary A+ Rating to Shelf Registration of YOKOHAMA MINATOMIRAI RAILWAY

Apr. 16, 2025

JCR Removed Credit Monitor; Upgraded Rating on Tonami Holdings to A+; Placed Stable Outlook

JCR Affirmed AA/Stable Long-term Issuer Rating on Japan Freight Railway

JCR Assigned A+ Rating to Bonds of Sumitomo Rubber Industries

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

Apr. 15, 2025

JCR Affirmed A-/Stable Long-term Issuer Rating on Tokyo Kiraboshi Financial Group and Kiraboshi Bank

JCR Assigned AA- Rating to Bonds of Nippon Yusen

Apr. 14, 2025

JCR Affirmed A-/Stable Long-term Issuer Rating on IINO KAIUN

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

J. FRONT RETAILING: Reviewed Sustainability Finance Framework Evaluation: SU 1(F)

Apr. 11, 2025

MINEBEA MITSUMI Announces Tender Offer for Shares of SHIBAURA ELECTRONICS—Limited Impact on Rating

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

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

JCR Affirmed AA/Stable Long-term Issuer Rating on Gunma Bank

JCR Affirmed AA/Stable Long-term Issuer Rating on Sekisui House Reit

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

JCR Assigned Preliminary A Rating to Shelf Registration of Toyo Tire

JCR Assigned AA- Rating to Bonds of Hokkaido Electric Power

JCR Assigned AA- to Notes of HARP Issuer PLC Series 215

Apr. 10, 2025

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

JCR Affirmed A-/Stable Long-term Issuer Rating on Nittetsu Mining

JCR Assigned A- Rating to Bonds of SKYLARK HD

JCR Assigned BBB+ Rating to Undated Subordinated Bonds of Japan Airlines

JCR Assigned AAA Rating to Bonds of Development Bank of Japan

JCR Assigned AA Rating to Bonds of KDX Realty Investment Corporation

JCR Assigned AA to Libra A Limited Series C085-2

shirogane-kankou hotel, The Shoko Chukin Bank: Second Opinion on Positive Impact Finance

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

Apr. 09, 2025

GENDA Announces Acquisition of Amusement Facility Operator in North America—Financial Burden Will Increase, but No Need to Immediately Revise Rating

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

JCR Assigned AAA Rating to Bonds of NTT TC Leasing

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

PENTA-OCEAN CONSTRUCTION: Reviewed Green Bond Evaluation: Green 1

Apr. 08, 2025

JCR Affirmed AA-/Stable and J-1+ on Asahi Group HD

JCR Affirmed AA/Stable Long-term Issuer Rating on 77 Bank

JCR Assigned Preliminary AA+ Rating to Shelf Registration of Sompo HD

JCR Assigned A Rating to SPIRE SA Series 2025-237

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

LEQUIOS, THE KAGOSHIMA BANK: Second Opinion on Positive Impact Finance

Apr. 07, 2025

JCR Affirmed A+ Long-term Issuer Rating on Pan Pacific International HD; Revised Outlook to Positive

JCR Affirmed A+ Long-term Issuer Rating on UCS; Revised Outlook to Positive

Change in CP Maximum Amount of HOKKAIDO GAS; Affirmed J-1

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

JCR Affirmed BBB+/Stable and J-2 on JK HD

JCR Affirmed A/Stable Long-term Issuer Rating on Shibusawa Logistics

JCR Affirmed J-1 Rating on CP of TOKAI HD

JCR Assigned Preliminary A Rating to Shelf Registration of DIC

Apr. 04, 2025

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

JCR Assigned AA+ Rating to Bonds of ITOCHU

JCR Assigned A+ Rating to Bonds of Keikyu

JCR Assigned AA+ Rating to Bonds of JAPAN TOBACCO

JCR Assigned AA Rating to Bonds of Tohoku Electric Power

JCR Assigned AA Rating to Bonds of Kansai Electric Power

JCR Assigned AA Rating to Bonds of Chubu Electric Power

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

JCR Assigned AA Rating to Bonds (with no financial covenants) of Mitsubishi UFJ Financial Group

JCR Assigned Preliminary BBB+ Rating to Shelf Registration of GENDA

JCR Assigned Preliminary AA Rating to Shelf Registration of Sumitomo Mitsui Trust Bank

The Joyo Bank: Second Opinion on Sustainable Deposit Framework

Apr. 03, 2025

JCR Assigned BBB+/Stable Long-term Issuer Rating to JINUSHI

JCR Affirmed A-/Stable FC Long-term Issuer Rating on Lotte Capital and Assigned A-/Stable to LC Long-term Issuer Rating

JCR Affirmed AA Long-term Issuer Rating on Central American Bank for Economic Integration; Revised Outlook to Positive

JCR Affirmed A-/Stable FC Long-term Issuer Rating on Vena Energy HD and Vena Energy Capital

JCR Affirmed A/Stable Long-term Issuer Rating on ZENKOKU HOSHO

JCR Affirmed A+/Stable (FC/LC) on Slovak Republic

JCR Affirmed A/Stable Long-term Issuer Rating on Tosei Reit Investment Corporation

Apr. 02, 2025

Sumitomo Mitsui Finance and Leasing Entered Container Leasing Business—Limited Impact on Rating

Revisions of Rating Methodology for a Holding Company

Revisions of Rating Methodology by Sector "Securities"

JCR Affirmed AA+/Stable Long-term Issuer Rating on JAPAN TOBACCO

JCR Affirmed A+/Stable FC Long-term Issuer Rating on Teollisuuden Voima Oyj

JCR Affirmed A+/Stable FC Long-term Issuer Rating on Pohjolan Voima Oyj

JCR Affirmed A/Stable (FC/LC) on Thai Union Group

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

Apr. 01, 2025

JCR Affirmed A Long-term Issuer Rating on SoftBank Group; Revised Outlook to Negative