News Release

Jun. 01, 2016

JCR Assigned A- Rating to Bonds of Tokyu Fudosan Holdings

JCR Affirmed BBB-/Stable on TOMY

JCR Affirmed J-1+ on CP of Kansai Electric; Decrease in Max. Amount

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

May. 31, 2016

[ Asset Securitization Products ] JCR Assigned J-1+ to Teral Bills Receivable ABL16-05

[ Asset Securitization Products ] JCR Assigned J-1 to Nohara Bills Receivable ABL16-05

Highlights of Heavy Machinery Manufacturers' Financial Results for Fiscal Year Ended March 2016

JCR Withdraws A-/Negative LT Issuer Rating on Yokohama Shinkin Bank

JCR Affirmed A+/Stable, A+, Preliminary A+ and J-1 on Marubeni

JCR Affirmed A+ on EMTN of Marubeni
JCR Affirmed A+ on EMTN of Marubeni Finance Europe

JCR Affirmed A- Rating on ARIAKE JAPAN; Revised Outlook to Positive

JCR Affirmed J-2 Rating on CP of KYOKUYO

JCR Affirmed AA+p/Stable LT Issuer Rating on Shin-Etsu Chemical

May. 30, 2016

[ Asset Securitization Products ] JCR Assigned J-1 to Aso Shoji Bills Receivable ABL16-05

JCR Affirmed J-1+ on CP of NTT FINANCE; Increase in CP Max. Amount

Highlights of Major Real Estate Companies' Financial Results for Fiscal Year Ended March 2016

JCR Assigned A- to Bonds of Showa Sangyo

JCR Affirmed BBB-/Stable and BBB- Rating on NIHON CHOUZAI

May. 27, 2016

Trust Bond Series 37 issued by The Nomura Trust & Banking Co. Ltd.

Series CLN-83

JCR Placed CM on Rating of WILLOW NO.2 Series 002 to #AA-[Negative]

Highlights of Electric Power Companies' Financial Results for Fiscal Year Ended March 2016

JCR Assigned BBB+ Rating to Bonds of Sojitz

JCR Assigned A+ Rating to Subordinated Bonds of SMFG

JCR Assigned A Rating to Bonds of Nomura Real Estate Holdings

JCR Affirmed AA-/Stable and AA- Rating on TOKYU REIT

JCR Affirmed AA/Stable LT Issuer Rating on Shinkin Central Bank

JCR Affirmed A/Stable LT Issuer Rating on Shinkin Guarantee Fund

JCR Assigned A Rating to Bonds of ACOM

JCR Assigned AA+ Rating to Bonds of JASSO

JCR Affirmed AAA and Preliminary AAA on Central Japan Railway

JCR Affirmed A+/Stable on Yamagata Bank

May. 26, 2016

Series 1605-B01

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL16-05 (D Hospital)

Highlights of Major Special Steel Manufacturers' Financial Results for Fiscal Year Ended March 2016

Highlights of Major Information Services Companies' Financial Results for Fiscal Year Ended March 2016

JCR Assigned AA- Rating to Bonds of Suntory Holdings

JCR Affirmed AAAp Rating on the EBRD with Stable Outlook

JCR Affirmed AA-/Stable, AA-, Pre AA-, J-1+ on Sumitomo Metal Mining

JCR Assigned AA-/Stable Rating to Hitachi Capital Insurance

JCR Assigned J-1 Rating to CP of Marubeni-Itochu Steel

JCR Assigned BBB+ Rating to Bonds of Nankai Electric Railway

Merger Agreement between NMF and Top REIT - Impact on NMF's Rating is Limited

May. 25, 2016

[ Asset Securitization Products ] JCR Assigned J-1 to Hyakugo Bank B Corp. Bills Rec. ABL16-05

[ Asset Securitization Products ] JCR Assigned J-1+ to MSNW Trust Certificate Series 16050

JCR Assigned AAA Rating to Bonds of Central Nippon Expressway

JCR Affirmed A on TonenGeneral Sekiyu; Revised Outlook to Stable

Highlights of Major Japanese Automakers' Financial Results for Fiscal Year Ended March 2016

JCR Assigned AA- to Bonds of Kansai Electric Power Company

JCR Affirmed BBB+/Stable LT Issuer Rating on Kita Osaka Shinkin

May. 24, 2016

JCR Assigned Preliminary AA-, A+ and A-to Shelf Registration of MHFG

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

JCR Assigned Pre. AA Rating to Shelf Registration of ASAHI KASEI

May. 23, 2016

[ Asset Securitization Products ] JCR Assigned J-3 to Narasaki Stax Accounts Receivable ABL16-05

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

JCR Affirmed A-/Stable LT Issuer Rating on Seto Shinkin Bank

JCR Affirmed J-2 Rating on CP of Daio Paper; Increase in CP Maximum

JCR Affirmed A-/Stable LT Issuer Rating on Saitamaken Shinkin Bank

JCR Affirmed AA- on MORI HILLS REIT; Revised Outlook to Positive

May. 20, 2016

[ Asset Securitization Products ] JCR Assigned Pre. J-1 to Hyakugo Bank B Corp. Bills Rec. ABL16-05

[ Asset Securitization Products ] JCR Assigned Preliminary J-1 to Aso Shoji Bills Receivable ABL16-05

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL16-05 (F Hospital)

JCR Assigned A+ to Bonds of Sumitomo Realty & Development

JCR Assigned BBB+ to Bonds of UNIZO Holdings

JCR Assigned Preliminary A+ to Shelf Registration of Sumitomo Riko

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

JCR Affirmed NIPPON TOCHI-TATEMONO; Revised Outlook to Positive

JCR Affirmed AAA/AAA Ratings on Norway with Stable Outlook

May. 18, 2016

JCR Assigned AA- to Bonds of Tohoku Electric Power

JCR Affirmed AA/Stable Ratings on SECOM General Insurance

May. 17, 2016

Loan (Trust Account 1169045)

[ Asset Securitization Products ]JCR Assigned Preliminary J-1+ to MSNW Trust Certificate Series 16050

Highlights of Major General Merchandise Stores' Financial Results for Fiscal Year Ended February 2016

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

May. 16, 2016

JCR Affirmed AA- on EMTN Program of Suntory Holdings

Highlights of Major Shipping Companies' Financial Results for Fiscal Year Ended March 2016

May. 13, 2016

JCR Affirmed AA/AA Ratings on Spain with Stable Outlook

Highlights of Major Blast Furnace Steelmakers’ Financial Results for Fiscal Year Ended March 2016

JCR Assigned AAA Rating to Bonds of West Nippon Expressway

JCR Affirmed A/Stable and A- on Bank of The Ryukyus

JCR Assigned AA to Bonds of Chugoku Electric Power Company

Hitachi Capital's Capital and Business Alliance - No Immediate Impact on Rating

JCR Affirmed A/Stable on Oberlin University and Affiliated Schools

JCR Assigned AAA Rating to Bonds of East Nippon Expressway

JCR Assigned AAA to Bonds of Aichi Prefecture

May. 12, 2016

JCR Affirmed A-, Pre A- on TOBU RAILWAY; Revised Outlook to Positive

JCR Affirmed A+/Stable on Bank of Okinawa

May. 11, 2016

JCR Affirmed AA/Stable Long-term Issuer Rating on 77 Bank

JCR Assigned AAA to Bonds of Aichi Prefecture

JCR Affirmed AA+/Stable LT Issuer Rating on Nippon Building Fund

May. 09, 2016

Trust Bonds No.132

JCR Affirmed BBB/Stable Long-term Issuer Rating on TOHOKU BANK

May. 06, 2016

JCR Withdraws BB-/Stable on Asahi Mutual Life Insurance

JCR Downgraded AKEBONO BRAKE INDUSTRY from BBB to BBB-; Affirmed J-2

JCR Affirmed BBB on SHINNIHON CORP.; Revised Outlook to Positive

JCR Affirmed A-/Stable, BBB+ and Pre. A- Rating on Shikoku Bank

JCR Downgraded Rating on Takata from BB+/Negative to BB-/Negative

May. 02, 2016

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

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

Apr. 28, 2016

[ Asset Securitization Products ] JCR Assigned J-1+ to Teral Bills Receivable ABL16-04