News Release

Feb. 21, 2017

Rakuten Will Acquire Its Own Shares – No Immediate Impact on Rating

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL17-02 (F Hospital)

JCR Assigned Pre. A Rating to Shelf Registration of TAKARA HOLDINGS

JCR Upgraded Ratings of Hungary to BBB+/A- with Stable Outlook

JCR Assigned AA to Bonds; Affirmed AA/Stable on DAIWA HOUSE INDUSTRY

JCR Assigned A Rating to Bonds of ACOM

JCR Assigned A- Rating to Bonds of Tokyu Fudosan Holdings

Feb. 20, 2017

[ Asset Securitization Products ] JCR Affirmed AAA, BBB and A on MMJ Mortgage Trust II Sr.BI and ABL

[ Asset Securitization Products ] JCR Affirmed AAA and BBB- on Toyonosato Beneficial Interest and ABL

JCR Affirmed A/Stable on SONY

JCR Assigned A- LT Issuer Rating and Pre A- to Takasago Thermal Eng.

Feb. 17, 2017

JCR Assigned A Rating to Bonds of KYOWA EXEO

JCR Assigned A+ Rating to Bonds of ITO EN

JCR Assigned A- Rating to Bonds of Central Glass

JCR Assigned A Rating to Bonds of Nagoya Railroad

JCR Assigned A+ Rating to Bonds of Mitsubishi UFJ Financial Group

JCR Assigned AA- Rating to Bonds of RICOH LEASING

JCR Assigned AAA Rating to Bonds of Metropolitan Expressway

JCR Assigned AA Rating to Bonds of GLP J-REIT

JCR Affirmed A+/Stable, A+ and Pre. A+ on Mitsubishi Chemical HD

JCR Affirmed BBB+/Stable on NIPPON THOMPSON

JCR Affirmed BBB+/Stable on Tsukuba Bank

[ Asset Securitization Products ] JCR Assigned Preliminary J-1+ to MSNW Trust Certificate Series 17020

[ Asset Securitization Products ] JCR Assigned Preliminary J-1 to Aso Shoji Bills Receivable ABL17-02

Feb. 16, 2017

JCR Assigned AA+ Rating to Bonds of Electric Power Development

JCR Assigned AA to Bonds of Mitsui Fudosan

JCR Affirmed AA/Negtive on Kanagawa Prefectural Housing Supply Corp.

JCR Affirmed A+/Stable on SUNDRUG

JCR Assigned A+ Rating to Bonds of FamilyMart UNY Holdings

Feb. 15, 2017

JCR Assigned A+ to Bonds of YOKOHAMA MINATOMIRAI RAILWAY

JCR Assigned AAA Ratings to the bonds issued by AfDB

JCR Affirmed A-/Stable Long-term Issuer Rating on Mitsuuroko Group

JCR Affirmed BBB+/Stable on NIPPON CHEMI-CON

JCR Affirmed AA/Stable, Pre. AA and J-1+ on SEI

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

JCR Affirmed A+p/Stable on Oji Holdings

JCR Affirmed AAA/Negative, AAA, Pre. AAA and J-1+ on NTT FINANCE

Feb. 14, 2017

JCR Assigned A/Stable Long-term Issuer Rating to TEPCO Power Grid

JCR Assigned A- Rating to Bonds of H.I.S.

JCR Affirmed A-/Stable and A- on SENKO

Feb. 13, 2017

JCR Affirmed A/Stable Long-term Issuer Rating on MIRAIT Holdings

JCR Affirmed AAA/Negative and J-1+ on Okinawa Electric Power

Feb. 10, 2017

JCR Assigned A Rating to Bonds of MORI BUILDING

JCR Assigned AA Rating to Bonds of MORI TRUST Sogo Reit

JCR Assigned AAA to Bonds of West Nippon Expressway

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