News Release

Jan. 12, 2016

JCR Withdraws J-2 CP Rating on Shinhan Bank Japan

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

JCR Affirmed A-/Stable and BBB+ Rating on MICHINOKU BANK

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

Jan. 08, 2016

JCR Assigned A- Rating to Bonds of TOBU RAILWAY

JCR Assigned AA- Rating to Bonds of Odakyu Electric Railway

Jan. 07, 2016

JCR Assigned AA-/Stable LT Issuer Rating to LaSalle LOGIPORT REIT

JCR Assigned Preliminary A- Rating to Bonds of Nomura Holdings

JCR Placed Rating on Maruzen Petrochemical under CM #BBB+/Negative

Jan. 05, 2016

JCR Affirmed A+/Stable Long-term Issuer Rating on Japan Net Bank

Jan. 04, 2016

[ Asset Securitization Products ] JCR Assigned J-1+ to Teral Bills Receivable ABL15-12

Dec. 29, 2015

[ Asset Securitization Products ] JCR Assigned J-1 to Aso Shoji Bills Receivable ABL15-12

Affirmed BBB+/Stable, BBB+, Pre. BBB+ and J-2 Rating on Sojitz

JCR Assigned A-/Stable LT Issuer Rating to Mitsuuroko Group Holdings

JCR Affirmed BBB+/Stable Long-term Issuer Rating to Tokyo TY Financial Group
JCR Affirmed BBB+/Stable Long-term Issuer Rating and BBB on Subordinated Bonds for Tokyo Tomin Bank
JCR Affirmed BBB+/Stable Long-term Issuer Rating on Yachiyo Bank

JCR Removed CM; Upgraded Rating on SGT to BBB+ with Stable Outlook

Dec. 28, 2015

[ Asset Securitization Products ] JCR Assigned J-1 to Nohara Bills Receivable ABL15-12

[ Asset Securitization Products ] JCR Assigned Pre AAA to Senior Beneficial Interest 201602

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

JCR Affirmed A-, J-1 on Yasuda Real Estate; Outlook Positive

JCR Affirmed AA-/Stable (FC) Rating on POSCO

JCR Affirmed A+ on DISCO; Revised Outlook from Stable to Positive

JCR Affirmed BBB/Stable and BBB on Monex Group
JCR Affirmed BBB/Stable and J-2 on Monex

JCR Affirmed A+,Assigned Pre A+ for Hiroshima Bank; Outlook Positive

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

Dec. 25, 2015

[ Asset Securitization Products ] JCR Assigned J-1 to Kimura Bills Receivable ABL15-12

[ Asset Securitization Products ]JCR Assigned J-1+ to MSNW Trust Certificate Series 15120

[ Asset Securitization Products ] JCR Affirmed J-1 on Dispensing Fees Rec. ABL Program (Nanba Pharm.)

[ Asset Securitization Products ] JCR Assigned J-1+ and J-2 to C Corporation Bills Receivable ABL15-12

[ Asset Securitization Products ] JCR Assigned J-3 to Monthly-Clearable Card Shopping Rec. ABL15-12

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

JCR Affirmed A Ratings on Busan Bank

JCR Upgraded Rating on Toyoko Inn from BBB- to BBB/Stable

JCR Assigned AA/Stable to Frontier Real Estate Investment

JCR Affirmed AA+/Stable and AA+ on JASSO

JCR Affirmed BBB Rating on EIKEN CHEMICAL; Outlook Positive

JCR Affirmed J-1 on CP of Nippon Steel & Sumikin Coated Sheet Corp.

Dec. 24, 2015

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL15-12 (D Hospital)

[ Asset Securitization Products ] JCR Assigned J-1+ to A Corp. Bills Receivable Senior Ben. Int. 15-12

JCR Affirmed AA-/Stable and AA- on Daiwa House REIT

JCR Affirmed AA-/Stable, AA- on Daiwa House Residential Investment

JCR Affirmed BBB/Stalbe Long-term Issuer Rating on Toyo Logistics

JCR Affirmed J-1+ on CP of TOYOTA MOTOR

JCR Affirmed J-1 Rating on CP of UC Card

JCR Affirmed AA/Stable and J-1+ Rating on Tokyo Electron

Jupiter Telecommunications Announces Capital Participation in Shop Channel

Dec. 22, 2015

[ Asset Securitization Products ] JCR Assigned J-3 to Narasaki Stax Accounts Receivable ABL15-12

Basic Agreement on Business Integration of MINEBEA and MITSUMI ELECTRIC

JCR Affirmed BBB/Stable on YAMAZAWA

JCR Affirmed BBB+/Stable, BBB+, BBB- and J-2 on Kawasaki Kisen

JCR Affirmed A/Stable on Kenedix Retail REIT

JCR Affirmed A/Stable and A- on NISHI-NIPPON CITY BANK

JCR Affirmed B-/Stable Long-term Issuer Rating on AIFUL

JCR Affirmed BBB+ on PACIFIC INDUSTRIAL; Revised Outlook to Positive

JCR Affirmed AA-/Stable on AEON REIT

Dec. 21, 2015

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL15-12 (F Hospital)

JCR Affirmed A/Stable, A, Pre. A and J-1 on TAKARA HOLDINGS

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

JCR Affirmed AAA/Stable on Japan Broadcasting Corporation

JCR Assigned Preliminary AA Rating to Shelf Registration of BTMU

Dec. 18, 2015

[ Asset Securitization Products ] JCR Assigned Preliminary J-1 to Aso Shoji Bills Receivable ABL15-12

JCR Downgraded Rating on Takata from BBB- and J-2 to BB+ and J-3

JCR Affirmed J-1 Rating on CP of Nissay Leasing

Dec. 17, 2015

[ Asset Securitization Products ]JCR Assigned Preliminary J-1+ to MSNW Trust Certificate Series 15120

JCR Affirmed BBB/Stable Long-term Issuer Rating on Sankyo Tateyama

Dec. 16, 2015

JCR Affirmed AAA/Stable Ratings on Canada

JCR Assigned AA- Rating to Bonds of JCB

JCR Affirmed A-/Stable and A- on ARAKAWA CHEMICAL INDUSTRIES

Dec. 15, 2015

JCR Affirmed AA- Rating on Specified Bonds of Nissay 2011 Fund SPC
JCR Affirmed AA- Rating on Specified Bonds of Nissay 2012 Fund SPC
JCR Affirmed AA- Rating on Specified Bonds of Nissay 2015 Fund SPC

JCR Affirmed A on Specied Bonds of Meiji Yasuda Life 2011 Fund SPC
JCR Affirmed A on Specied Bonds of Meiji Yasuda Life 2012 Fund SPC
JCR Affirmed A on Specied Bonds of Meiji Yasuda Life 2013 Fund SPC
JCR Affirmed A on Specied Bonds of Meiji Yasuda Life 2014 Fund SPC

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

Acquisition of GE group's leasing business in Japan by SMFL

JCR Affirmed BBB on SCREEN Holdings; Revised Outlook to Positive

Dec. 14, 2015

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

[ Asset Securitization Products ] JCR Upgraded Class C of Trust Maison Two to AAA; Affirmed Class B&D

JCR Affirmed A-/Stable, A- and Pre. A- on Nishimatsu Construction

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

JCR Affirmed A-/Stable and BBB+ Rating on Kita-Nippon Bank

JCR Assigned Pre A+, Affirmed A+/J-1 on Sumitomo Rub., Positive

JCR Affirmed A-/Stable and J-1 Rating on Mitsubishi Electric Credit

Dec. 11, 2015

JCR Affirmed A+/Stable on SUMITOMO LIFE INSURANCE

JCR Affirmed BBB/Stable LT Issuer Rating on TAMURA CORPORATION

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

JCR Affirmed A+/Stable and J-1+ on Dai-ichi Life Insurance

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

JCR Affirmed A/Stable and A on Keisei Electric

Affirmed BBB+/Stable Long-term Issuer Rating on BELLUNA

JCR Upgraded Rating on GLP J-REIT from AA-/Positive to AA/Stable

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

JCR Upgraded Rating on Sotetsu Holdings to A-/Stable

JCR Affirmed A+/Stable, A+, Preliminary A+ and J-1 on Keikyu Corp.

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

JCR Affirmed AA/Stable, AA, Preliminary AA and J-1+ on Keio Corp.

JCR Assigned AA Rating to Bonds of FAST RETAILING

JCR Assigned AA- to Bonds of Kyushu Electric Power Company

JCR Assigned AAA to Bonds of Aichi Prefecture

Dec. 10, 2015

Series 1511-B01

JCR Withdraws BBB/Negative and BBB- on SAGA KYOEI BANK

JCR Affirmed BBB on KYORITSU MAINTENANCE;Revised Outlook to Positive

JCR Assigned BBB Rating to Bonds of ICHINEN HOLDINGS