News Release

Feb. 10, 2017

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

JCR Affirmed A+/AA- (FC/LC) Ratings on KEPCO

JCR Affirmed AA/Stable on Nippon Prologis REIT

Feb. 09, 2017

JCR Affirmed A+/Stable on Kyoritsu Women's Educational Institution

JCR Assigned AA- Rating to Bonds of LaSalle LOGIPORT

Feb. 08, 2017

Sumitomo Metal Mining’s Revision of Earnings Forecasts – No Immediate Impact on Rating, but JCR will Watch Future Earnings Trend

Business Integration of JK HD with HASHIMOTO SOGYO HD – No Immediate Impact on JK HD’ Rating; JCR will Watch Group’s Creditworthiness After Integration and Impact on JK HD

JCR Assigned AA Rating to Bonds of Urban Renaissance Agency

JCR Assigned AA to Bond; Affirmed AA/Stable on Advance Residence Inv.

JCR Assigned Pre. A- to Shelf Registration of SEIBU HD

JCR Affirmed A/Stable on SCSK

Feb. 07, 2017

JCR Affirmed A+/Stable and A (Sub.) on Musashino Bank

JCR Affirmed A- and BBB+ on MICHINOKU BANK; Outlook Negative

JCR Affirmed BBB/Stable and BBB- (Sub.) on TOTTORI BANK

Feb. 06, 2017

JCR Affirmed A-/Stable on FUJI ELECTRIC

JCR Affirmed AA+/Negative LT Issuer Rating on Shoko Chukin Bank

JCR Affirmed J-1 on CP of Nissay Leasing

Feb. 03, 2017

JCR Assigned Pre. A+ to Bonds of Mitsubishi UFJ Financial Group

JCR Assigned A-/Stable Long-term Issuer Rating to UCS

JCR Assigned AAA to Bonds of Aichi Prefecture

JCR Affirmed BBB-/Stable on Akatsukikai

Feb. 02, 2017

Nippon Sheet Glass Decides to Issue Preferred Shares - Outcome and Impacts on Financial Structure To Be Watched and Reflected in Rating

JCR Affirmed A+/Stable Rating on Fuji Fire and Marine Insurance

Feb. 01, 2017

JCR Affirmed BBB- and J-2 on ZENSHO HD; Revised Outlook to Positive

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

JCR Affirmed J-2 on CP of CMIC HOLDINGS

JCR Affirmed AA/Negative and AA on Urban Renaissance Agency

Jan. 31, 2017

Nojima’s Conversion of Successor Company of NIFTY’s Consumer Business into its Subsidiary - JCR Will Check Impact on Nojima’s Financial Structure to be Reflected in Rating

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

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

JCR Affirmed AA/Stable and AA on MORI TRUST Sogo Reit

JCR Affirmed AA-/Stable, AA- and Preliminary AA- on AEON REIT

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

JCR Affirmed AA- on Specified Bonds of Nissay Fund SPC

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

JCR Affirmed A on Specified Bonds of Sumitomo Life Fund Sec. SPC V

[ Asset Securitization Products ] JCR Assigned J-1+ to Teral Bills & Elect. Rec. Receivable ABL17-01

[ Asset Securitization Products ] JCR Assigned J-1 to Nohara Bills Receivable ABL17-01

[ Asset Securitization Products ] JCR Assigned AAA to Class A Beneficial Interest 201701

JCR Withdraws A/Stable Long-term Issuer Rating on H2O RETAILING

JCR Withdraws BBB+/Stable Long-term Issuer Rating on Kita Osaka Shinkin

Jan. 30, 2017

Nippon Light Metal Holdings Will Redeem Hybrid Finance Early before Maturity - No Impact on its Ratings

JCR Upgraded Rating on Kenedix Office Investment to AA-/Stable

JCR Affirmed A+/Stable and A+ on Bank of Nagoya

JCR Affirmed B- on AIFUL; Revised Outlook from Stable to Positive

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

JCR Affirmed AA+/Stable LT Issuer Rating on Seven & i Holdings
JCR Affirmed AA+/Stable LT Issuer Rating on Seven-Eleven Japan

JCR Affirmed AA/Stable and J-1+ on Mitsui Fudosan

JCR Affirmed AA+p/Stable on Mitsubishi Estate

JCR Affirmed A+/Stable and J-1 on Sumitomo Realty & Development

JCR Affirmed A-/Stable and J-1 on Tokyu Fudosan Holdings

JCR Affirmed A/Stable and J-1 on Nomura Real Estate Holdings

JCR Affirmed A-/Stable, A- and J-1 on SAPPORO HOLDINGS

JCR Affirmed BBB+ (FC/LC) ratings on IRFC

JCR Affirmed Preliminary BBB on Mitsubishi UFJ Trust ABL900282

[ Asset Securitization Products ] JCR Assigned J-1 to Aso Shoji Bills Receivable ABL17-01

Jan. 27, 2017

JCR Removed CM; Upgraded MITSUMI ELECTRIC from #A-/Positive to A

JCR Assigned Preliminary A+ to Bonds of YOKOHAMA MINATOMIRAI RAILWAY

JCR Assigned A to Bonds of Fuyo General Lease

JCR Assigned AA+ to Bonds of Japan Student Services Organization

JCR Assigned AA to Bonds of Activia Properties

JCR Assigned Pre. A Rating to Shelf Registration of MORI BUILDING

JCR Affirmed AAp/Stable and J-1+ on Nippon Life Insurance Company

JCR Affirmed A+/Stable on The Dai-ichi Life Insurance

JCR Affirmed A+/Positive and J-1+ on Meiji Yasuda Life Insurance

JCR Affirmed A+/Stable on SUMITOMO LIFE INSURANCE

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

JCR Affirmed AA/Stable and AA on GLP J-REIT

[ Asset Securitization Products ] JCR Assigned J-1 to Hyakugo Bank B Corp. Bills Rec. ABL17-01

Jan. 26, 2017

JCR Affirmed A/Stable, A, Pre. A and J-1 on Sumitomo Osaka Cement

JCR Affirmed A-/Stable and J-1 on JAPAN PULP AND PAPER

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

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL17-01 (D Hospital)

Jan. 25, 2017

[ Asset Securitization Products ] JCR Assigned J-1+ to MSNW Trust Certificate Series 17010

Jan. 24, 2017

JCR Assigned BBB+/Stable LT Issuer Rating to Sanyo Electric Railway

JCR Affirmed A-, BBB and J-1 on TOYOBO; Revised Outlook to Positive

JCR Assigned AA- Rating to Bonds of MORI HILLS REIT

JCR Affirmed AAA/Negative on NIPPON TELEGRAPH AND TELEPHONE

JCR Affirmed AAA/Negative on NTT DOCOMO

JCR Affirmed BBB-/Stable Long-term Issuer Rating on Harima-Kyowa

JCR Affirmed A-/Stable and BBB+ on Ehime Bank

[ Asset Securitization Products ] JCR Assigned Pre. J-1 to Hyakugo Bank B Corp. Bills Rec. ABL17-01

Jan. 23, 2017

JCR Assigned Pre. A- Rating to Shelf Reg. of Nishimatsu Construction

JCR Affirmed A-/Stable on DyDo GROUP HOLDINGS

JCR Affirmed A/Stable on Wakkanai Shinkin Bank

JCR Affirmed A+/Stable, A+, Preliminary A+ and J-1 on Tokyo Century
JCR Affirmed A+/Stable and J-1 on NIPPON CAR SOLUTIONS
JCR Affirmed A+/Stable and J-1 on FUJITSU LEASING

[ Asset Securitization Products ] JCR Assigned J-3 to Narasaki Stax Accounts Receivable ABL17-01

Jan. 20, 2017

JCR Assigned A- Rating to Bonds of HIKARI TSUSHIN

JCR Assigned A Rating to Bonds of JA Mitsui Leasing

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

JCR Assigned AA Ratings to EDF's JPY Bonds

JCR Affirmed A Ratings on Busan Bank

JCR Affirmed AA-/Stable on Sekisui House Reit

[ Asset Securitization Products ] JCR Assigned Preliminary J-1 to Aso Shoji Bills Receivable ABL17-01

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL17-01 (F Hospital)

Jan. 19, 2017

JCR Placed IBJ Leasing/IBJL-TOSHIBA under CM #A-/Negative and #J-1/Negative

JCR Assigned AAA Rating to Bonds of Tokyo Metro

JCR Affirmed A+/Stable on Sumitomo Riko

JCR Affirmed A-/Stable on Sotetsu Holdings

JCR Affirmed BBB/Stable Long-term Issuer Rating on Toyoko Inn