News Release

Nov. 01, 2018

JCR Affirmed A/Negative and J-1 on Rakuten Securities

JCR Affirmed A/Negative and J-1 on Rakuten Card

JCR Affirmed A/Negative Long-term Issuer Rating on Rakuten General Insurance

JCR Affirmed AAA Ratings on The International Bank for Reconstruction and Development with Stable Outlook

Oct. 31, 2018

JCR Affirmed BBB and J-2 Rating on Mitsui E&S Holdings; Revised Outlook from Stable to Negative

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

JCR Affirmed J-1 Rating on CP of Shutoken Leasing

JCR Affirmed A-/Stable and J-1 on Mitsubishi Electric Credit

JCR Affirmed AA-/Stable and AA- on Japan Excellent

JCR Affirmed AA/Stable Long-term Issuer Rating on Mitsui Fudosan Private REIT

[ Asset Securitization Products ] JCR Assigned J-1+ to Teral Bills & Electronically Recorded Receivable ABL18-10

Oct. 30, 2018

NIPPON STEEL & SUMITOMO METAL Sees Progress in Procedures for Joint Acquisition of Essar Steel India - No Impact on Rating, Future Developments to Be Watched

JCR Upgraded Rating on IZUMI from A/Positive to A+/Stable

JCR Affirmed BBB+ and J-2 on FUJI SOFT; Revised Outlook from Stable to Positive

JCR Affirmed AA- and J-1+ Rating on Mitsubishi UFJ Lease & Finance; Revised Outlook from Stable to Positive

JCR Affirmed A-/Stable, A- and J-1 on Konoike Transport

JCR Affirmed A/Stable Long-term Issuer Rating on Ezaki Glico

JCR Affirmed BBB+/Stable and BBB+ on Kanagawa Chuo Kotsu

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

JCR Affirmed BBB-/Stable Long-term Issuer Rating on Jimoto Holdings
JCR Affirmed BBB-/Stable Long-term Issuer Rating on Kirayaka Bank
JCR Affirmed BBB-/Stable Long-term Issuer Rating on Sendai Bank

[ Asset Securitization Products ] JCR Assigned J-1 to Aso Shoji Bills Receivable ABL18-10

Oct. 29, 2018

JCR Upgraded Rating to A+/Stable and A- on ISUZU MOTORS;Affirmed J-1

JCR Affirmed AA- Rating on NIDEC; Revised Outlook from Stable to Positive

JCR Affirmed AA-/Stable Long-term Issuer Rating on NISSAN MOTOR

JCR Affirmed AA-/Stable Long-term Issuer Rating on NISSAN FINANCIAL SERVICES

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

JCR Affirmed AA/Stable and AA on Daiwa House REIT Investment Corporation

JCR Withdraws J-1+ on CP of NIDEC

Oct. 26, 2018

JCR Placed Rating on DAIKYO under Credit Monitor #A/Positive

JCR Assigned Green 1 to the Bonds issued by Fuyo General Lease

JCR Assigned A Rating to Bonds of Fuyo General Lease

JCR Removed Credit Monitor; Downgraded Rating on Daishi Bank from #AA-/Negative to A+
JCR Removed Credit Monitor; Upgraded Rating on Hokuetsu Bank from #A/Positive to A+

JCR Upgraded Rating on Taiyo Oil from BBB-/Positive to BBB/Stable; Affirmed J-2 on CP

JCR Affirmed J-2 Rating on CP of Seibu Oil

JCR Assigned A Rating to Bonds of HASEKO

JCR Assigned A Rating to Bonds of Yasuda Real Estate

JCR Assigned Preliminary AA- Rating to Shelf Registration of Mitsubishi Heavy Industries; Affirmed J-1+ Rating on CP; Increase in CP Maximum Amount

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Treatment Fees Receivable ABL18-10 (D Hospital)

Oct. 25, 2018

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

JCR Affirmed AA-/Stable, AA-, Preliminary AA-, and J-1+ on Odakyu Electric Railway

JCR Affirmed J-1 Rating on CP of T&D Lease

JCR Affirmed J-2 Rating on CP of MMC Diamond Finance

Oct. 24, 2018

JCR Assigned AA Rating to Bonds of Mitsui Fudosan

JCR Assigned AAA Rating to Bonds of Central Nippon Expressway

JCR Assigned Preliminary A- Rating to Shelf Registration of TAIHEIYO CEMENT

JCR Affirmed A/Stable and Preliminary A on DAIKYO

[ Asset Securitization Products ] JCR Assigned Preliminary J-1 to Aso Shoji Bills Receivable ABL18-10

Oct. 23, 2018

JCR Affirmed A/Stable and J-1 on Nabtesco

JCR Affirmed A-/Stable, A-, Preliminary A-, and J-1 on IHI

[ Asset Securitization Products ] JCR Assigned J-3 to Narasaki Stax Accounts Receivable ABL18-10

[ Asset Securitization Products ] JCR Assigned J-1 to Hyakugo Bank B Corporation Bills Receivable ABL18-10

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

Oct. 22, 2018

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

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

JCR Affirmed A+/Stable, A+ and Preliminary A+ on NSK

JCR Affirmed A-/Negative and J-1 on Kobelco Construction Machinery

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

JCR Affirmed A-/Stable, A-, Preliminary A-, and J-1 on JACCS

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Treatment Fees Receivable ABL18-10 (F Hospital)

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

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

Oct. 19, 2018

JCR Assigned A- Rating to Bonds of NIPPON TOCHI-TATEMONO

JCR Assigned A Rating to Bonds of DAIBIRU

JCR Assigned A- Rating to Bonds of NIPRO

JCR Affirmed A/Stable and J-1 on PARCO

JCR Assigned A+ Rating to Bonds of Sumitomo Mitsui Trust Panasonic Finance

JCR Assigned A- Rating to Bonds of AEON Product Finance

JCR Assigned AAA Rating to Bonds of Japan Student Services

JCR Affirmed BBB+/Stable and J-2 on RESORTTRUST

JCR Affirmed A/Stable, A, and J-1 on SKY Perfect JSAT Holdings

JCR Affirmed AA-/Stable and A on T&D Holdings
JCR Affirmed AA-/Stable Long-term Issuer Rating and Ability to Pay Insurance Claims on Daido Life Insurance
JCR Affirmed AA-/Stable and A+ on Taiyo Life Insurance
JCR Affirmed AA-/Stable Long-term Issuer Rating and Ability to Pay Insurance Claims on T&D Financial Life Insurance

JCR Affirmed AAA/AAA (FC/LC) Ratings on France with Stable outlook

Oct. 18, 2018

JCR Assigned AA- Rating to Bonds of Tohoku Electric Power

JCR Assigned A Rating to Bonds of ANA HOLDINGS

JCR Affirmed A/Stable and J-1 on GUNZE

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL Program (R Hospital)

[ Asset Securitization Products ] JCR Assigned Preliminary J-1 to Hyakugo Bank B Corporation Bills Receivable ABL18-10

Oct. 17, 2018

Revisions to Business Forecasts of ONE - JCR will Watch Impact on Business Results of 3 Major Shipping Companies with Severe Conditions

JCR Affirmed BBB Rating on Kawasaki Kisen; Revised Outlook from Stable to Negative

JCR Assigned AA- Rating to Bonds of Kyushu Electric Power

JCR Assigned AA+ Rating to Bonds of Electric Power Development

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

Oct. 16, 2018

ZENSHO HOLDINGS To Acquire a U.S. Ready-Made Meal Supplier - No Impact on Rating but Future Investments to Be Closely Watched

JCR's Rating Review of Blast Furnace Steel Manufacturers

JCR Assigned A+ Rating to Bonds of Hulic

JCR Affirmed BBB+/Stable, BBB+ and J-2 on MEIDENSHA

JCR Affirmed J-2 Rating on CP of KOKUSAI PULP & PAPER

Oct. 15, 2018

2018-1

JCR Upgraded (FC/LC) Ratings on Russia from BB+ to BBB- with Stable outlook

JCR Affirmed A- Rating on Hoshino Resorts REIT; Revised Outlook from Stable to Positive

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

Oct. 12, 2018

JCR Assigned Preliminary BBB Rating to Shelf Registration of JALUX

JCR Assigned A Rating to Bonds of TEPCO Power Grid

JCR Assigned A Rating to Bonds of KUREHA

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

JCR Affirmed AA/Stable Long-term Issur Rating and Ability to Pay Insurance Claims on JAPAN POST INSURANCE

JCR Assigned AA- Rating to Bonds of Mitsubishi UFJ Lease & Finance

JCR Assigned AA+ Rating to Bonds of NARITA INTERNATIONAL AIRPORT

JCR Assigned AAA Rating to Bonds of West Nippon Expressway

Oct. 11, 2018

Don Quijote Holdings' Conversion of UNY into Its Wholly-owned Subsidiary - Limited Impact on Rating through Financing by Issue of Equity Instruments that Controls Worsening of Financial Structure