News Release

Nov. 16, 2016

JCR Affirmed BBBp/Stable on NDS

Nov. 15, 2016

JCR Placed Rating on AIG Fuji Life Insurance under CM #A+/Negative

Sale of AIG’s life insurance subsidiary of Fuji Fire and Marine Insurance – No Immediate Impact on Fuji Fire and Marine’s Rating

JCR Upgraded Rating on Kenedix Residential to A+/Stable and A+

JCR Affirmed A+/Stable on Nippon Steel & Sumikin Engineering

JCR Affirmed A+/Stable and J-1 on NIPPON STEEL & SUMIKIN LOGISTICS

JCR Affirmed A-/Stable and J-1 on KROSAKI HARIMA

JCR Affirmed A-/Stable and A- on J-OIL MILLS

JCR Affirmed A/A (FC/LC) Ratings on Portugal with Stable Outlook

Nov. 14, 2016

JCR Assigned Preliminary AA- Rating to Shelf Registration of NIDEC

JCR Affirmed A+/Stable and J-1 on Sanwa Holdings

JCR Affirmed A+/Stable and J-1 on MG Leasing Corporation

JCR Affirmed AA-/Stable and J-1+ on Sumitomo Mitsui Finance and Leasing

JCR Affirmed AAA/Negative on Development Bank of Japan

Nov. 11, 2016

JCR Assigned A+/Stable to Long-term Issuer Rating for MIRAI Corp.

JCR Removed CM; Downgraded Rating on Nippon Yusen to A with Negative Outlook

JCR Assigned Pre. BBB+ to Shelf Reg. of UNIZO; Affirmed BBB+/Stable

JCR Affirmed A/Stable and J-1 on Sharp Finance

JCR Affirmed A/Stable, A, Pre. A and J-1 on Fuyo General Lease

JCR Affirmed A-/Stable Long-term Issuer Rating on RISO KAGAKU

Nov. 10, 2016

Trump wins the US presidential election - No immediate change in Mexico's Ratings while close attention to be paid to the new president's policy

JCR Affirmed A- on TIS and INTEC; Revised Outlook to Positive

JCR Affirmed BBB+/Stable and J-2 on RESORTTRUST

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

Nov. 09, 2016

Neon Capital Limited

JCR Assigned AAA to Bonds of Aichi Prefecture

Nov. 08, 2016

Revision of SANKYO's Earnings Forecast - No Immediate Impact on Rating, but JCR Will Watch Future Earnings Trend

JCR Affirmed A/Stable on Okazaki Shinkin

JCR Affirmed A+/Stable on Hekikai Shinkin Bank

JCR Affirmed AA-/Stable and J-1+ on RICOH LEASING

JCR Assigned Preliminary BBB to Mitsubishi UFJ Trust ABL900282

Nov. 07, 2016

JCR Affirmed A+/Stable, A+, Pre. A+ and J-1 on SUMITOMO CHEMICAL

JCR Affirmed J-2 Rating on CP of DAIHO

Nov. 04, 2016

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

KAGOME to Acquire Shares Held by Asahi Group Holdings

JCR Assigned A+/Stable to LT Issuer Rating for ASICS Corporation

JCR Affirmed A+/Stable and J-1 on NIPPON STEEL & SUMIKIN TEXENG

JCR Affirmed BBB/Stable Long-term Issuer Rating on SOGO MEDICAL

JCR Affirmed A/Stable on Hyakujushi Bank

Nov. 02, 2016

JCR Assigned A- Rating to JPY Bonds of Hanwha Chemical

JCR Affirmed A/Stable on Amagasaki Shinkin Bank

JCR Affirmed A/Stable on NIFCO

Nov. 01, 2016

JCR Affirmed BBB/Stable on Starzen

JCR Affirmed BBB-/Stable and J-2 on Taiyo Oil

JCR Assigned A+ Rating to Bonds of Japan Hotel REIT Investment

JCR Affirmed A on Kurimoto Mega Solar Bond Trust 1 BI/Trust ABL

JCR Affirmed A on Kurimoto Mega Solar Bond Trust 2 BI/Trust ABL

Oct. 31, 2016

Integration of Liner Containership Among 3 Major Shipping Cos.

JCR Placed Rating on Kawasaki Kisen under CM #BBB+/Negative

JCR Affirmed A-/Stable and J-1 on Nippon Steel Kowa Real Estate

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

JCR Affirmed BBB/Stable LT Issuer Rating on YAHAGI CONSTRUCTION

[ Asset Securitization Products ] JCR Assigned J-1+ to Teral Bills & Elect. Rec. Receivable ABL16-10

[ Asset Securitization Products ] JCR Assigned J-1 to Nohara Bills Receivable ABL16-10

Oct. 28, 2016

JCR Assigned A/Stable to LT Issuer Rating for AICHI STEEL

JCR Assigned AA- Rating to Bonds of Hankyu REIT

JCR Affirmed A/Stable and J-1 on TOC

JCR Affirmed A-/Stable and J-1 on Kansai Urban Banking

JCR Affirmed A/Stable and A- (Sub.) on MINATO BANK

JCR Affirmed BBB+/Stable and BBB+ on Kanagawa Chuo Kotsu

[ Asset Securitization Products ] JCR Assigned J-1 to Aso Shoji Bills Receivable ABL16-10

[ Asset Securitization Products ] JCR Assigned J-1 to Hyakugo Bank B Corp. Bills Rec. ABL16-10

Oct. 27, 2016

JCR Affirmed AA-/Stable on Awa Bank

JCR Affirmed A/Stable and A- (Sub.) on Ogaki Kyoritsu Bank

JCR Affirmed A/Stable and A- (Sub.) on Juroku Bank

JCR Affirmed A/Stable on IZUMI

JCR Affirmed A-/Stable, A- and J-1 Rating on Konoike Transport

Oct. 26, 2016

JCR Assigned Pre. BBB+ Rating to Shelf Reg. of TAIHEIYO CEMENT

JCR Affirmed J-2 on CP of Seibu Oil Company

JCR Affirmed AAA (FC/LC) Ratings on Australia with Stable Outlook

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL16-10 (D Hospital)

[ Asset Securitization Products ] JCR Affirmed BBB+ on Godo Kaisha Residential One (Class B Loan)

Oct. 25, 2016

LINTEC's Acquisition of Film Manufacturer in U.S.

JCR Assigned AA- Rating to Bonds of SMFL

JCR Affirmed AA-/Stable on NISSAN MOTOR

JCR Affirmed AA-/Stable on NISSAN FINANCIAL SERVICES

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

JCR Affirmed BBB/Stable LT Issuer Rating on TAMURA CORPORATION

JCR Affirmed J-2 on CP of TSUBAKIMOTO KOGYO

[ Asset Securitization Products ] JCR Assigned Pre. J-1 to Hyakugo Bank B Corp. Bills Rec. ABL16-10

[ Asset Securitization Products ] JCR Assigned J-1+ to MSNW Trust Certificate Series 16100

Oct. 24, 2016

JCR Upgraded Rating on Nankai Electric Railway to A-/Stable and J-1

JCR Affirmed A-/Stable and A- on H.I.S.

JCR Affirmed A/Stable and J-1 on SKY Perfect JSAT Holdings

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

JCR Affirmed A+/Stable on NSK

JCR Affirmed J-1 Rating on CP of T&D Lease

JCR Affirmed AAAp/Negative LT Issuer Rating on East Japan Railway

Oct. 21, 2016

JCR　Assigned AA+ to Bonds of Japan Student Services Organization

JCR　Assigned AA- to Bonds of Japan Excellent

JCR　Assigned A to Bonds of Kenedix Retail REIT

JCR　Assigned BBB+ to Bonds: Affirmed BBB+/Stable and J-2 on HANWA

JCR　Assigned Pre A- to Shelf of ARAKAWA CHEMICAL; Affirmed A-/Stable

JCR　Assigned Pre AA- to Shelf Reg of Mitsubishi Heavy Industries

[ Asset Securitization Products ] JCR Assigned J-3 to Narasaki Stax Accounts Receivable ABL16-10

[ Asset Securitization Products ] JCR Affirmed J-1 on Med. Fees Rec. ABL Program (Seiwakai, Ishii HP)

Oct. 20, 2016

Showa Denko's Acquisition of Graphite Electrodes Business

JCR Affirmed BBB+ on CAC HD; Revised Outlook from Stable to Negative

JCR Assigned AA- to Bonds of Kansai Electric Power Company

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