News Release

Jun. 05, 2017

Highlights of Major Ink Manufacturers’ Financial Results for FY2016

Jun. 02, 2017

JCR Assigned AA- to Bonds of Tohoku Electric Power Company

JCR Assigned A Rating to Bonds of ANA HOLDINGS

JCR Assigned BBB+ Rating to Bonds of HANWA

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

JCR Assigned A- Rating to Bonds of JACCS

JCR Affirmed A/Stable on Hiroshima Shinkin Bank

Highlights of Oil Distributors' Financial Results for FY2016

Jun. 01, 2017

JETS International Five Limited 177

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

JCR Assigned AAA/Negative LT Issuer Rating to Aichi Prefecture

JCR Assigned A+ Rating to Bonds of Japan Rental Housing Investments

JCR Affirmed BBB/Stable Rating on Showa Aircraft Industry

JCR Affirmed AAA/Negative on Tokio Marine Holdings, Tokio Marine & Nichido Fire Insurance

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

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

Rating Methodology for Local Public Bodies

May. 31, 2017

JCR Assigned A to Bonds of Rakuten

[ Asset Securitization Products ] JCR Assigned J-1 to Nohara Bills Receivable ABL17-05

[ Asset Securitization Products ] JCR Assigned J-1+ to Teral Bills & Elect. Rec. Receivable ABL17-05

[ Asset Securitization Products ] JCR Assigned J-1 to Hyakugo Bank B Corp. Bills Rec. ABL17-05

[ Asset Securitization Products ] JCR Assigned AAA to Class A Beneficial Interest 201705

Highlights of Major Special Steel Manufacturers’ Financial Results for Fiscal Year Ended March 2017

Highlights of Major Information Services Companies’ Financial Results for Fiscal Year Ended March 2017

Highlights of Warehouse Companies’ Financial Results for Fiscal Year Ended March 2017

May. 30, 2017

17-05-02

JCR Affirmed AA-/Stable on CABEI

[ Asset Securitization Products ] JCR Assigned J-1 to Aso Shoji Bills Receivable ABL17-05

[ Asset Securitization Products ] JCR Assigned A- and BBB to Project Advance

JCR Affirmed BBB on JAG Mega Solar Project Ben.Int./Trust ABL

May. 29, 2017

JCR Upgraded Rating on TAIYO NIPPON SANSO from A/Positive to A+/Stable; Affirmed J-1

JCR Affirmed AA- Rating on Sumitomo Metal Mining; Revised Outlook to Negative

JCR Affirmed BBB- Rating on TOMY; Revised Outlook from Stable to Positive

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

Highlights of Major Real Estate Companies' Financial Results for Fiscal Year Ended March 2017

Highlights of Major Milling Companies’ Financial Results for Fiscal Year Ended March 2017

May. 26, 2017

Establishment of Rating Methodology for Guaranty Company

JCR Assigned BBB+ Rating to Bonds of Sojitz

JCR Assigned A- Rating to Bonds of SAPPORO HOLDINGS

JCR Assigned AA Rating to Bonds of DAIWA HOUSE INDUSTRY

JCR Assigned AA+ to Bonds of Japan Student Services Organization

JCR Affirmed A+p/Stable on Mitsubishi Tanabe Pharma

JCR Affirmed A+/Stable, J-1 on SMTLF; Increase in CP Max Amount

[ Asset Securitization Products ] JCR Assigned Pre. J-1 to Hyakugo Bank B Corp. Bills Rec. ABL17-05

May. 25, 2017

JCR Upgraded Rating on SHINNIHON CORP. from BBB/Positive to BBB+/Stable

JCR Assigned AA- Rating to Bonds of Kyushu Electric Power Company

JCR Assigned A Rating to Bonds of Nippon Yusen Kabushiki Kaisha

JCR Assigned AA- Rating to Bonds of Kansai Electric Power Company

JCR Assigned AAA Rating to Bonds of Central Nippon Expressway

JCR Assigned Pre. A Rating to Shelf Registration of Keihan Holdings

JCR Affirmed A+/Stable, A- (Sub.) and J-1 on Marubeni

JCR Affirmed A-/Stable Rating on Aozora Bank

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL17-05 (D Hospital)

[ Asset Securitization Products ] JCR Assigned J-1+ to MSNW Trust Certificate Series 17050

Highlights of Major Japanese Automakers’ Financial Results for Fiscal Year Ended March 2017

May. 24, 2017

JCR Assigned AAA Rating to Bonds of Tokyo Metro

JCR Assigned A- Rating to Bonds of Nankai Electric Railway

JCR Assigned A Rating to Bonds of Nagoya Railroad

JCR Assigned A- Rating to Bonds of J-OIL MILLS

JCR Assigned A- Rating to Bonds of Tokyu Fudosan Holdings

JCR Assigned AA to Bonds of Chubu Electric Power

JCR Affirmed A-/Stable on Seto Shinkin Bank

Highlights of Electric Power Companies’ Financial Results for Fiscal Year Ended March 2017

May. 23, 2017

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

JCR Assigned BBB+ Rating to Bonds of UNIZO Holdings

JCR Assigned Pre AA- Rating to Bonds of Asahi Group Holdings, Ltd.

JCR Affirmed A-/Stable on Saitamaken Shinkin Bank

JCR Assigned A to Bonds of Fuyo General Lease

[ Asset Securitization Products ] JCR Assigned J-3 to Narasaki Stax Accounts Receivable ABL17-05

May. 22, 2017

JCR Upgraded Rating on MORI HILLS REIT from AA-/Positive to AA/Stable

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

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL17-05 (F Hospital)

[ Asset Securitization Products ] JCR Assigned Preliminary J-1 to Aso Shoji Bills Receivable ABL17-05

May. 19, 2017

JCR Assigned A+ Rating on Banco Santander with Stable Outlook

JCR Assigned A- to Bonds of Ube Industries

JCR Assigned AA- Rating to Bonds of Odakyu Electric Railway

JCR Assigned AA- Rating to Bonds of NIDEC CORPORATION

May. 18, 2017

JETS International Five Limited 171

JCR Affirmed BBB/Stable Long-term Issuer Rating on Oenon Holdings

[ Asset Securitization Products ] JCR Assigned Preliminary J-1+ to MSNW Trust Certificate Series 17050

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

May. 17, 2017

Highlights of Major General Merchandise Stores' Financial Results for Fiscal Year Ended February 2017

JCR Affirmed AA+ (FC/LC) Ratings on Hong Kong with Stable Outlook

May. 16, 2017

JCR Assigned AA- to Bonds of JFE Holdings

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

JCR Assigned AAA to Bonds of West Nippon Expressway

JCR Assigned A- Rating to Bonds of FUJI ELECTRIC

May. 15, 2017

JCR Assigned Pre. AA- Rating to Shelf Registration of Odakyu

JCR Affirmed A-/Stable and J-1 Rating on Kyoto Shinkin Bank

May. 12, 2017

Highlights of Major Shipping Companies' Financial Results for Fiscal Year Ended March 2017

JCR Upgraded Rating on NIPPON TOCHI-TATEMONO from BBB+/Positive to A-/Stable

JCR Assigned AA+ Rating to Bonds of Electric Power Development

JCR Assigned AAA to Bonds of Aichi Prefecture

JCR Assigned AA+ Rating to Bonds of NBF; Affirmed AA+/Stable and AA+

JCR Affirmed A/Stable LT Issuer Rating on Tomakomai Shinkin Bank

JCR's Rating Review of 4 Expressway Companies

JCR Affirmed AA/AA Ratings on Spain with Stable Outlook

May. 11, 2017

Highlights of Major Blast Furnace Steelmakers' Financial Results for Fiscal Year Ended March 2017

May. 10, 2017

JCR Assigned A-/Stable LT Issuer Rating to Takara Leben Infrastructure Fund

May. 09, 2017

JCR Assigned Pre AA- to Bond of JFE Holdings