News Release

Jan. 30, 2017

[ 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

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

Jan. 18, 2017

Cypher Limited 290

Sylph Limited 1839

JCR Assigned AA- to Bonds of Kyushu Electric Power

JCR Assigned A- to SMFG's Tier 1 Bonds with loss absorption clause

JCR Assigned AAA to Bonds of East Nippon Expressway

JCR Affirmed A-/Stable and J-1 on Mitsui Sugar

JCR Affirmed BBB+/Stable and BBB+ Rating on TONAMI HOLDINGS

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

Jan. 17, 2017

JCR Upgraded Rating on SQUARE ENIX HOLDINGS to A/Stable

JCR Assigned A+ Rating to Sub. Bonds of MS&AD Insurance Group HD

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

JCR Affirmed AA-/Stable Long-term Issuer Rating on ROHM

JCR Affirmed A+/Stable, A+ and J-1 Rating on Don Quijote HD

JCR Affirmed AA+/Stable, AA+, Preliminary AA+ and J-1+ on NTT DATA

JCR Affirmed BBB+/Stable on Yasuda Logistics

JCR Affirmed BBB+/Stable on Chuo Warehouse

JCR Affirmed BBB/Stable Long-term Issuer Rating on Sintokogio

JCR Affirmed BBB+ on ABL of Sumitomo Mitsui Trust ABL11150

JCR Affirmed BBB- on ABL of Sumitomo Mitsui Trust ABL11151

Jan. 16, 2017

Takata Reaches Agreement with US DOJ – Ratings Unchanged, Keeping an Eye on Restructuring Efforts

JCR Assigned A/Stable Long-term Issuer Rating to JAPAN WOOL TEXTILE

JCR Assigned AA Preliminary Rating to EDF's JPY Bonds

JCR Affirmed A+/Stable and J-1 on ITO EN

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

JCR Affirmed A+/Stable and J-1 on kabu.com Securities

JCR Affirmed BBB/Stable LT Issuer Rating on Monex Group, Monex

JCR Affirmed BBB-/Stable on Howa Bank

JCR Affirmed AA+/Negative and AA+ on JASSO

Jan. 13, 2017

JCR Assigned AA Rating to Bonds of Chubu Electric Power

JCR Assigned AA Rating to Bonds of Chugoku Electric Power

JCR Assigned AA+ Rating to Bonds of Electric Power Development

JCR Assigned AAA to Bonds of Aichi Prefecture

JCR Affirmed A+/Stable on Fukuoka Kogyo Daigaku

JCR Assigned Preliminary A to Shelf Registration of DAIBIRU

JCR Affirmed AA-/Stable and AA- Rating on Sumitomo Warehouse

JCR Affirmed AA/Stable, AA and J-1+ Rating on Mitsubishi Logistics

JCR Affirmed AA+/Stable and J-1+ on Master Trust Bank of Japan

JCR Affirmed AA+/Stable and J-1+ on Japan Trustee Services Bank

Jan. 12, 2017

JCR Assigned A/Stable Long-term Issuer Rating to SIA REIT

JCR Assigned AAA Rating to Bonds of Development Bank of Japan

JCR Affirmed AA/Stable on Sony Life Insurance

Jan. 11, 2017

JCR Assigned A+ to Subordinated Bonds of Mizuho Financial Group

JCR Assigned AA- Rating to Bonds of Odakyu Electric Railway

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

JCR Affirmed AA/Stable Long-term Issuer Rating on Toyo University

Jan. 10, 2017

JCR Assigned AA Rating to CAF's BRL Water Bonds

Jan. 06, 2017

JCR Assigned Pre. A+ to Sub. Bonds of MS&AD Insurance Group HD

JCR Assigned A- to Bonds of TOBU RAILWAY

Jan. 04, 2017

[ Asset Securitization Products ] JCR Assigned J-1+ to Teral Bills & Elect. Rec. Receivable ABL16-12

Dec. 29, 2016

Series 72 Unsecured Trust Bonds

JCR Assigned BBB Rating to Subordinated Loan of NIPRO

JCR Affirmed BBB-/Stable and BB+ (Sub.) on SHIMANE BANK

JCR Affirmed A-/Stable and BBB+ (Sub.) on Kita-Nippon Bank

[ Asset Securitization Products ] JCR Assigned J-1 to Aso Shoji Bills Receivable ABL16-12