News Release

Dec. 28, 2018

loan201812

lease201812

JCR assigned Green 1 (Final Evaluation) to Class A Senior Beneficial Interest et al. of Beneficial Interest 201812 (Contract No. 00012883)

JCR Affirmed J-1 Rating on CP of Yokohama Rubber with Increase in CP Maximum Amount; Assigned Preliminary A+

JCR Assigned Preliminary AA- Rating to Shelf Registration of RICOH LEASING

JCR Affirmed BBB+ (FC) Ratings on ICICI Bank Limited with Stable Outlook

[ Asset Securitization Products ] JCR Assigned J-1+ to Teral Bills & Electronically Recorded Receivable ABL18-12

Dec. 27, 2018

JCR Placed Rating on MG Leasing under Credit Monitor #A+/Negative

JCR Assigned Green 1 to Long-term Loan Borrowed by Nippon Yusen Kabushiki Kaisha

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

JCR Affirmed AAA/Stable, AAA, Preliminary AAA, and J-1+ on NTT FINANCE; Increase in CP Maximum Amount

[ Asset Securitization Products ] JCR Assigned J-1 to Aso Shoji Bills Receivable ABL18-12

[ Asset Securitization Products ] JCR Assigned J-1+ to Saitama Resona Bank A Corporation Bills Receivable Senior Beneficial Interest 18-12

Dec. 26, 2018

Neon Capital Limited 781

JCR Upgraded Rating on NGK SPARK PLUG from A+/Positive to AA-/Stable

JCR Affirmed AA-/Stable, AA-, Preliminary AA-, and J-1+ on Sumitomo Rubber Industries

JCR Affirmed AA-/Stable, AA-, Preliminary AA- and J-1+ on TOKYU

JCR Affirmed BBB/Stable Long-term Issuer Rating on Toyo Logistics

JCR Affirmed A+/Stable Long-term Issuer Rating on Japan Net Bank

JCR Affirmed A+/Stable and A+ on Kenedix Residential NEXT Investment Corporation

Dec. 25, 2018

SB18-12

JCR Downgraded Rating on Deutsche Bank from A+p to Ap (FC) with Negative Outlook

JCR Affirmed A- on MITSUI-SOKO HOLDINGS; Revised Outlook from Negative to Stable

JCR Affirmed AA/Stable and AA on FAST RETAILING

JCR Affirmed A-/Stable and A- on Maruzen Showa Unyu

JCR Affirmed AAA/Stable, AAA, and Preliminary AAA on Development Bank of Japan

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Treatment Fees Receivable ABL18-12 (D Hospital)

Dec. 21, 2018

FamilyMart UNY Holdings’Announcement on Results of Tender Offer for Shares in Don Quijote Holdings - No Immediate Impact on Ratings

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

JCR Affirmed A (FC) Rating on Hotel Lotte with Stable Outlook

JCR Affirmed AAA/Stable and AAA on Japan Finance Corporation

Dec. 20, 2018

JAPAN POST HOLDINGS' Investment in and New Alliance with Aflac - Burden May Increase But Impact on Creditworthiness Will be Limited

JCR Affirmed AA-, Preliminary AA- and J-1+ on Sumitomo Mitsui Finance and Leasing; Revised Outlook from Stable to Positive

JCR Affirmed J-1 Rating on CP of Nissay Leasing

JCR Affirmed AAA (FC/LC) Ratings on Commonwealth of Australia with Stable Outlook

[ Asset Securitization Products ] JCR Assigned J-3 to Narasaki Stax Accounts Receivable ABL18-12

Dec. 19, 2018

JCR Assigned BBB-/Stable Long-term Issuer Rating and Ability to Pay Insurance Claims to Asahi Mutual Life Insurance

JCR Assigned Preliminary A+ Rating to Subordinated Bonds of JAPAN POST INSURANCE

JCR Affirmed A-/Stable and A- on ARAKAWA CHEMICAL INDUSTRIES

JCR Affirmed AA-/Stable, AA-, Preliminary AA- and J-1+ on Asahi Group Holdings

JCR Affirmed BBB/Stable and BBB on KYORITSU MAINTENANCE

JCR Affirmed A+ Rating on Specified Bonds of Meiji Yasuda Life Fund SPC

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Treatment Fees Receivable ABL18-12 (F Hospital)

[ Asset Securitization Products ] JCR Assigned Preliminary J-1 to Aso Shoji Bills Receivable ABL18-12

Dec. 18, 2018

Hitachi to Acquire Power Grids Business from ABB - Limited Impact on Rating

JCR Affirmed A and J-1 Rating on SHOWA SHELL SEKIYU; Revised Outlook from Stable to Positive
JCR Affirmed A and J-1 Rating on Idemitsu Kosan; Revised Outlook from Stable to Positive

JCR Affirmed BBB+ Rating on Namura Shipbuilding; Revised Outlook from Stable to Negative

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

Dec. 17, 2018

JCR Assigned A+/Stable Long-term Issuer Rating to Daishi Hokuetsu Financial Group

JCR Assigned AAA Ratings to Bonds of African Development Bank

JCR Affirmed A+/Stable and A+ on Kenedix Retail REIT Corporation

JCR Affirmed A+ Rating on Teollisuuden Voima Oyj with Stable Outlook

JCR Affirmed A+ Rating on Pohjolan Voima Oyj with Stable Outlook

Dec. 14, 2018

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JCR Assigned Green 1 to Bonds Issued by GLP J-REIT

JCR Assigned AA Rating to Bonds of GLP J-REIT

JCR's Rating Review of Major Life Insurers

JCR Upgraded Rating on Dai-ichi Life Insurance from A+/Positive to AA-/Stable

JCR Affirmed AA-/Stable and J-1+ on Meiji Yasuda Life Insurance

JCR Upgraded Rating on SUMITOMO LIFE INSURANCE from A+/Positive to AA-/Stable

JCR Assigned AA- Rating to Bonds of Odakyu Electric Railway

JCR Assigned A Rating to Bonds of TSUBAKIMOTO CHAIN

JCR Withdraws AAA/Stable Long-term Issuer Rating on Japan Broadcasting Corporation

Dec. 13, 2018

TAIYO NIPPON SANSO’s Acquisition of HyCO Business in US—Limited Impact on Rating

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JCR Assigned A+ Rating to Bonds of Mitsubishi Chemical Holdings

JCR Affirmed AA/Stable and J-1+ on Tokyo Electron

JCR Affirmed A-/Stable Long-term Issuer Rating on Southern TOHOKU Research Institute for Neuroscience

JCR Affirmed BBB+/Stable and BBB+ on UNIZO Holdings

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

Dec. 12, 2018

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

JCR Affirmed A/Stable, A, and J-1 on Nippon Flour Mills

JCR Affirmed AA/Stable Long-term Issuer Rating on NISSHIN SEIFUN GROUP

JCR Affirmed A-/Stable, A-, and J-1 on Showa Sangyo

JCR Affirmed A+/Stable and A+ on Keisei Electric Railway

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

JCR Affirmed A/Stable, A, Preliminary A and J-1 on JA Mitsui Leasing

[ Asset Securitization Products ] JCR Assigned Preliminary J-1+ to Saitama Resona Bank A Corporation Bills Receivable Senior Beneficial Interest 18-12

Dec. 11, 2018

JCR Removed Credit Monitor; Upgraded Rating on DAIKYO from #A/Positive and Preliminary #A/Positive to A+ and Preliminary A+; Placed Stable Outlook

JCR assigned Green 1 (Preliminary Evaluation) to the 21st bonds issued by Orient Corporation

JCR Assigned AA+ Rating to Bonds of Nippon Building Fund

JCR Assigned Preliminary A- Rating to Shelf Registration of IHI

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

JCR Affirmed A+/Stable and J-1 on NIPPON STEEL & SUMIKIN TEXENG

Dec. 10, 2018

Pioneer Announced the Sponsor Support - JCR Will Confirm the Outcome of Capital Increase, Etc. for Rating

JCR Removed Credit Monitor; Upgraded Rating from #A/Positive to A+ on Nisshin Steel; Placed Stable Outlook; Affirmed J-1

JCR's Rating Review of Volume-sales Consumer Electronics Retailers

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

JCR Affirmed BBB and J-2 Rating on Nojima; Revised Outlook from Stable to Positive

JCR Affirmed BBB+/Stable and J-2 on Joshin Denki

JCR Affirmed A/Stable Long-term Issuer Rating on K'S HOLDINGS

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

JCR Affirmed AAA/Stable and AAA on Tokyo Metro

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

JCR Affirmed A/Stable and A- on Ogaki Kyoritsu Bank

JCR Affirmed A/Positive and A on Invincible Investment Corporation

Dec. 07, 2018

JCR Assigned AA- Rating to Bonds of Mitsubishi UFJ Financial Group

JCR Assigned BBB+ Rating to Subordinated Bonds of Rakuten

JCR Assigned BBB Rating to Bonds of ZENSHO HOLDINGS