News Release

Jul. 13, 2018

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

JCR Assigned A- Rating to Bonds of Orient Corporation

JCR Assigned AA- Rating to Bonds of Fukuoka REIT Corporation

JCR Assigned AA- Rating to Bonds of Premier Investment Corporation

Jul. 12, 2018

JCR Assigned Preliminary A Rating to Shelf Registration of NICHIREI CORPORATION

JCR Affirmed BBB+/Stable Long-term Issuer Rating on Nippon Fine Chemical

Jul. 11, 2018

JCR Affirmed BBB+ Rating on Tokuyama; Revised Outlook from Stable to Positive

JCR Affirmed A- and J-1 on PENTA-OCEAN CONSTRUCTION; Revised Outlook from Stable to Positive

JCR Assigned AA- Rating to Bonds of Sumitomo Mitsui Trust Bank

JCR Assigned AA Rating to Bonds of Orix JREIT

JCR Assigned Preliminary AA- Rating to Shelf Registration of NIPPON STEEL & SUMITOMO METAL

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

Jul. 10, 2018

SHOWA SHELL SEKIYU and Idemitsu Kosan Announced their Business Integration - JCR Already Incorporated into Rating

Yahoo Japan's Acquisition of its Own shares - Limited Impact on Rating

JCR Upgraded Rating on ROYAL HOLDINGS from BBB/Positive to BBB+/Stable

JCR Assigned A Rating to Bonds of Kawasaki Heavy Industries

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

Jul. 09, 2018

JCR Assigned A/Stable Long-term Issuer Rating to AEON Mall

JCR Upgraded Rating on HASEKO from A-/Positive to A/Stable

JCR Assigned Preliminary A+ Rating to Shelf Registration of Hulic; Affirmed A+/Stable, A+, A-, Preliminary A+, and J-1

JCR Affirmed A-/Stable, BBB (Sub.), Preliminary A- and J-1 on Tokyo Tatemono

JCR Affirmed BBB/Stable, BBB and J-2 on ICHINEN HOLDINGS

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

Jul. 06, 2018

JCR Assigned AA- Rating to Bonds of Odakyu Electric Railway

JCR Assigned A+ Rating to Bonds of Keikyu

JCR Assigned AA- Rating to Bonds of Kyushu Electric Power

JCR Assigned Preliminary A Rating to Shelf Registration of Kobe Steel

JCR Assigned Preliminary A+ Rating to Shelf Registration of Sumitomo Riko

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

JCR Assigned A- Rating to Bonds of NEC Capital Solutions

JCR Assigned AAA Rating to Bonds of Development Bank of Japan

JCR Affirmed AAp/Negative Rating on Ability to Pay Insurance Claims of Japan Earthquake Reinsurance

JCR Affirmed AA-/Stable Long-term Issuer Rating on Mitsui Fudosan Logistics Park

Jul. 05, 2018

TAIYO NIPPON SANSO's Acquisition of Industrial Gas Business in Europe - No Immediate Impact on Mitsubishi Chemical Holdings' Rating, but JCR will Closely Watch Impact on Group's Financial Structure

JCR Placed Rating on TAIYO NIPPON SANSO under Credit Monitor #A+/Negative

Sylph Limited 1888

JCR Assigned AA Rating to Bonds of Chugoku Electric Power

JCR Assigned AA+ Rating to Bonds of Electric Power Development

JCR Assigned AA- Rating to Bonds of Hitachi Capital

JCR Affirmed A-/Stable and J-1 on Mitsui Mining and Smelting

JCR Affirmed BBB/Stable and J-2 on TOKYO DOME

Jul. 04, 2018

JCR Assigned A+/Stable rating to Empresa Nacional del Petroleo (Chile Petroleum Public Corporation)

JCR Assigned BBB+ Rating to Bonds of ARATA

JCR Assigned AA Rating to Bonds of Frontier Real Estate Investment Corporation

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

JCR Affirmed S3 Special Servicer Rating on YAMADA SERVICER SYNTHETIC OFFICE

Jul. 03, 2018

JCR Assigned AA Rating to Bonds of GLP J-REIT

JCR Affirmed AA-/Stable and AA- on Fukuoka REIT Corporation

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

Jul. 02, 2018

Highlights of Major Meat Processing Companies' Financial Results for Fiscal Year Ended March 2018

JCR Assigned A- Rating to Bonds of HOKUTO

JCR Assigned Preliminary AA+ Rating to Shelf Registration of NTT DATA

JCR's Rating Review of Tire Manufacturers

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

JCR Assigned Preliminary A+ to Shelf Registration of Yokohama Rubber; Affirmed A+ Rating and Revised Outlook from Negative to Stable

JCR Affirmed BBB+/Stable, BBB+, Preliminary BBB+, BBB-, and J-2 on Toyo Tire & Rubber

JCR Affirmed A- and Preliminary A- on MAEDA CORPORATION; Revised Outlook from Stable to Positive

JCR Affirmed AA-/Stable, AA-, A and J-1+ on Suntory Holdings

JCR Affirmed AA-/Stable, AA- and J-1+ on Suntory Beverage & Food

Jun. 29, 2018

loan201806

lease201806

Highlights of Major Milling Companies' Financial Results for Fiscal Year Ended March 2018

JCR Assigned Preliminary AA Rating to Shelf Registration of Sumitomo Mitsui Banking

JCR Affirmed A/Negative and A- (Sub.) on SHIMIZU BANK

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

JCR Affirmed BBB- Rating on Adaro Energy with Positive Outlook

JCR Affirmed AA+ Rating on Quebec with Stable Outlook

[ Asset Securitization Products ] JCR Assigned J-1+ to Teral Bills & Electronically Recorded Receivable ABL18-06

[ Asset Securitization Products ] JCR Assigned AAA to Class A Beneficial Interest 201806

[ Asset Securitization Products ] JCR Assigned A to Trust ABL, Class A/ Class B Corporate Bonds of Nomura Trust and Banking (1806-01)

[ Asset Securitization Products ] JCR Assigned AA- to Class A ABL, BBB to Class B ABL/ Corporate Bonds of Nomura Trust and Banking (1806-02)

[ Asset Securitization Products ] JCR Assigned AA to Class A ABL/ Class A-1 and A-2 Corporate Bonds, A to Class B ABL/ Corporate Bonds, BBB to Class C ABL/ Corporate Bonds and BBB- to Class D ABL of Nomura Trust and Banking (1806-03)

[ Asset Securitization Products ] JCR Assigned A to Trust ABL, Class A/ Class B Corporate Bonds of Nomura Trust and Banking (1806-04)

[ Asset Securitization Products ] JCR Assigend BBB to Class A ABL, Class A-1, and Class A-2 Corporate Bonds of Blue Lending Nagoya GK

[ Asset Securitization Products ] JCR Assigned A to Class A ABL, Class A-1, and Class A-2 Corporate Bonds, BBB to Class B ABL and BBB- to Class C Corporate Bonds of Blue Lending Naha GK

Jun. 28, 2018

[ Asset Securitization Products ] JCR Affirmed J-1+ on 3rd Trust Beneficial Interest

Highlights of Major Trucking Companies' Financial Results for Fiscal Year Ended March 2018

JCR’s Rating Review of Money Market Brokers

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

[ Asset Securitization Products ] JCR Assigned J-1 to Aso Shoji Bills Receivable ABL18-06

[ Asset Securitization Products ] JCR Affirmed J-1+ on ABCP Programs of Super Trust 1 to 20, LLC

Jun. 27, 2018

JCR Upgraded Rating on Orange from A- to A; Revised Outlook to Stable

JCR Affirmed BBB Rating on HOSOKAWA MICRON; Revised Outlook from Stable to Positive

JCR Assigned Preliminary A- Rating to Shelf Registration of NEC Capital Solutions

JCR Affirmed A-/Stable on Hanwha Chemical

JCR Affirmed AAp/Stable Long-term Issuer Rating on Hitachi

[ Asset Securitization Products ] JCR Assigned J-1+ to Saitama Resona Bank A Corporation Bills Receivable Senior Beneficial Interest 18-06

Jun. 26, 2018

Incumbent victory in Turkey's presidential election - Declining uncertainty over domestic politics is positive on the ratings

Highlights of General Trading Companies' Financial Results for Fiscal Year Ended March 2018

Highlights of Major Telecom Companies' Financial Results for Fiscal Year Ended March 2018

JCR Assigned A- Rating to JPY Bonds of Renault

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

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Treatment Fees Receivable ABL18-06 (D Hospital)

[ Asset Securitization Products ] JCR Assigned J-1 to Hyakugo Bank B Corporation Bills Receivable ABL18-06

Jun. 25, 2018

SB17-12

JCR Affirmed AAA/Stable ratings on Canada

[ Asset Securitization Products ] JCR Assigned J-1+ and J-2 to Hokuriku Bank C Corporation Bills Receivable ABL18-06

Jun. 22, 2018

Highlights of Major Industrial Gas Manufacturers' Financial Results for Fiscal Year Ended March 2018

JCR Assigned Preliminary AA- Rating to Shelf Registration of Hankyu Hanshin Holdings

JCR's Rating Review of Electric Power Companies