News Release

Jun. 21, 2018

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

JCR Affirmed AA+/Stable and J-1+ on Toa Reinsurance

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

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

[ Asset Securitization Products ] JCR Assigned J-3 to Narasaki Stax Accounts Receivable ABL18-06

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

Jun. 20, 2018

Highlights of Supermarket Chain Operators' Financial Results for Fiscal Year Ended February/March 2018

JCR Assigned BB+ Rating to Subordinated Loan of ZENSHO HOLDINGS

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

Jun. 19, 2018

JETS International Five Limited 178

JETS International Five Limited 177

JETS International Five Limited 171

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

JCR Affirmed A-/Stable, A- and J-1 on NIPPON TOCHI-TATEMONO; Assigned Preliminary A-

JCR Affirmed J-2 Rating on CP of KYOKUYO

Jun. 18, 2018

JCR Affirmed Ap/Stable Long-term Issuer Rating on TOYO INK SC HOLDINGS

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

Jun. 15, 2018

JCR Assigned BBB+ Rating to Bonds Program (Senior bonds) of ICICI Bank Limited

JCR's Rating Review of Major Non-Life Insurance Companies

JCR Affirmed AAA/Negative Long-term Issuer Rating on Tokio Marine Holdings
JCR Affirmed AAA/Negative and J-1+ on Tokio Marine & Nichido Fire Insurance

JCR Affirmed AA+/Stable, AA- and J-1+ on Sompo Japan Nipponkoa Insurance
JCR Upgraded Rating on Saison Automobile & Fire Insurance from AA-/Stable to AA/Stable

JCR Affirmed AA/Stable and A+ on MS&AD Insurance Group Holdings
JCR Affirmed AA+/Stable and J-1+ on Mitsui Sumitomo Insurance
JCR Affirmed AA+/Stable and J-1+ on Aioi Nissay Dowa Insurance

JCR Affirmed BBB on Mitsubishi UFJ Trust ABL630

JCR Withdraws D Long-term Issuer Rating and D on Takata

Jun. 14, 2018

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JCR Affirmed A and Preliminary A on SONY; Revised Outlook from Stable to Positive

JCR Affirmed BBB/Stable, BBB and J-2 on Daiei Real Estate & Development

Jun. 13, 2018

Highlights of Major General Chemical Manufacturers' Financial Results for Fiscal Year 2017

Highlights of Oil Distributors' Financial Results for Fiscal Year 2017

JCR Assigned AAA Rating to Bonds of East Nippon Expressway

JCR Assigned AA Rating to Bonds of MORI TRUST Sogo Reit

JCR Affirmed AA/Stable and AA on ORIX JREIT

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

Jun. 12, 2018

JCR Assigned A Rating to Bonds of Mitsui Chemicals

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

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

[ Asset Securitization Products ] JCR Assigned Preliminary AA to Class A Corporate Bonds of Nomura Trust and Banking (1806-03)

[ Asset Securitization Products ] JCR Assigend Preliminary BBB to Class A Corporate Bonds of Blue Lending Nagoya GK

Jun. 11, 2018

JCR Affirmed A/Stable Long-term Issuer Rating on ROHTO PHARMACEUTICAL

Jun. 08, 2018

JCR Assigned AA- Rating to Bonds of Kansai Electric Power

JCR Assigned AA- Rating to Bonds of Kyushu Electric Power

JCR Assigned AA- Rating to Bonds of Comforia Residential REIT

JCR Assigned A- Rating to Bonds of JACCS

JCR Assigned A+ Rating to Bonds of NGK SPARK PLUG

JCR Assigned A Rating to Bonds of PERSOL HOLDINGS

JCR Assigned A+ Rating to Bonds (Tier 2 with loss absorption clause) of Sumitomo Mitsui Trust Holdings

JCR Assigned Preliminary A Rating to Shelf Registration of SHOWA SHELL SEKIYU

JCR Affirmed A/Stable Long-term Issuer Rating on Shinkin Guarantee Fund

JCR Affirmed A-/Stable Long-term Issuer Rating on Starts Proceed Investment Corporation

Jun. 07, 2018

JCR Assigned A- Rating to Bonds of Shibusawa Warehouse

Highlights of Food Service Companies' Financial Results for Fiscal Year 2017

Jun. 06, 2018

JCR Upgraded Rating on IBJ Leasing from BBB+/Stable to A-/Stable
JCR Upgraded IBJL-TOSHIBA Leasing from BBB+/Stable to A-/Stable and from J-2 to J-1

JCR Assigned AA- Rating to Bonds of NIPPON STEEL & SUMITOMO METAL

JCR Assigned A- Rating to Bonds of SoftBank Group

JCR Assigned BBB+ Rating to Bonds of HANWA

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

Sharp’s Establishment of Capital Restructuring Plan - Possible Increase of Creditworthiness

JCR Affirmed A/Stable Long-term Issuer Rating on ARIAKE JAPAN

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

JCR Affirmed BBB/Stable Long-term Issuer Rating on Minami-Nippon Bank

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

Jun. 05, 2018

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

JCR Affirmed BBB+ and BBB+ Rating on Makino Milling Machine; Revised Outlook from Stable to Positive

Highlights of Major Special Steel Manufacturers' Financial Results for Fiscal Year Ended March 2018

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

Jun. 04, 2018

JCR Assigned A+/Stable Rating to Aflac Incorporated
JCR Assigned AA/Stable Rating to American Family Life Assurance Company of Columbus
JCR Assigned AA/Stable Rating to Aflac Life Insurance Japan Ltd.

JCR Affirmed J-2 Rating on CP of COSMO ENERGY HOLDINGS; Increase in CP Maximum Amount

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

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

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

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

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

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

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

[ Asset Securitization Products ] JCR Assigend Preliminary BBB to Class A ABL of Blue Lending Nagoya GK

Jun. 01, 2018

JCR Assigned AA/Stable Long-term Issuer Rating to Shinkin Securities

JCR Assigned AA- Rating to Bonds of Tohoku Electric Power

JCR Affirmed J-1+ Rating on CP of ITOCHU Treasury; Increase in CP Maximum Amount

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

JCR Affirmed AA-/Stable Long-term Issuer Rating on San-in Godo Bank

May. 31, 2018

JCR Assigned Preliminary A- Rating to Shelf Registration of Showa Denko

JCR Affirmed AA-/Stable and AA- on Hulic Reit

JCR Assigned BBB to Blue Energy Ishikawa Mega Solar Power Station Project Senior Loan

[ Asset Securitization Products ] JCR Assigned J-1+ to Teral Bills & Electronically Recorded Receivable ABL18-05

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

May. 30, 2018

Rise of the Euro-skepticism in Italy is a constraining factor on the ratings. JCR will closely monitor on the economic and fiscal policy development

JCR Assigned AA Rating to Bonds of FAST RETAILING

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

[ Asset Securitization Products ] JCR Assigned J-1 to Hyakugo Bank B Corporation Bills Receivable ABL18-05

[ Asset Securitization Products ] JCR Assigned J-1 to Aso Shoji Bills Receivable ABL18-05

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

May. 29, 2018

JCR Upgraded Rating on Shinsei Bank from BBB+/Positive and J-2 to A-/Stable and J-1

JCR Upgraded Rating on Showa Leasing from BBB+/Positive and J-2 to A-/Stable and J-1

JCR Upgraded Rating on Shinsei Securities from BBB+/Positive to A-/Stable

JCR's Rating Review of General Construction Companies

JCR Upgraded Rating on TAISEI from A+/Positive to AA-/Stable

JCR Upgraded Rating on OBAYASHI from A+/Positive to AA-/Stable

JCR Upgraded Rating on SHIMIZU from A+p/Positive to AA-p/Stable

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