News Release

Mar. 17, 2016

[ Asset Securitization Products ] JCR Assigned Preliminary J-1+ to MSNW Trust Certificate Series 16030

JCR Affirmed BB+/Stable on Ferrotec

JCR Affirmed A/Stable and A- Rating on Miyazaki Bank

JCR JCR Affirmed AA/Stable and AA Rating on NEW KANSAI INTERNATIONAL AIRPORT
JCR Affirmed AA/Stable and AA Rating on KANSAI INTERNATIONAL AIRPORT LAND COMPANY

JCR Affirmed A/Stable, A, Pre. A and J-1 Rating on SUMITOMO HEAVY

Mar. 16, 2016

Series 1602-B03

JCR Affirmed BBB on JAG Mega Solar Project Ben.Int./Trust ABL

JCR Affirmed A+p/Stable on Mitsubishi Tanabe Pharma

JCR Affirmed A+ on Kenedix Office; Revised Outlook to Positive

JCR Affirmed J-1 on CP of Nissay Leasing; Increase in Maximum Amount

Mar. 15, 2016

[ Asset Securitization Products ] JCR Assigned Pre. J-1 to Hyakugo Bank B Corp. Bills Rec. ABL16-03

JCR Affirmed AAA/AAA (FC/LC) Ratings on USA

Mar. 14, 2016

JCR Affirmed A/Stable on America Movil

Impact of Court Order Against Nuclear Power on Power Companies' Ratings - Negative as a Whole, but There are Differences among them

JCR Assigned Pre. A- Rating to Shelf Registration of POCKET CARD

JCR Affirmed AA+/Stable Long-term Issuer Rating on SECOM

JCR Affirmed A-/A+ Ratings on Mexico with Stable Outlook

JCR Affirmed A and A- (sub.) on SHIMIZU BANK; Outlook Negative

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

Mar. 11, 2016

JCR Assigned Pre A to SGET Tochigi Mega Solar Power Station Proj. BI

JCR Assigned AA Rating to Bonds of Mitsui Fudosan

JCR Assigned A Rating to Bonds of Japan Hotel REIT Investment

JCR Assigned A- Rating to Bonds of SAPPORO HOLDINGS

JCR Assigned AAA to Bonds of Aichi Prefecture

Mar. 10, 2016

Series VPA 1 S01

JCR Affirmed A+/Stable and A (Sub.) on Musashino Bank

Provisional Disposition to Suspend Restart of Kansai Electric Takahama Power Station - No Immediate Impact on Rating

JCR Affirmed A/Stable LT Issuer Rating on HEIWA REAL ESTATE REIT

JCR Assigned Preliminary AA- to Shelf Reg. of TOKYU CORPORATION

JCR Assigned A Rating to Bonds of HOKKAIDO GAS

JCR Affirmed BBB+ on Shibusawa Warehouse; Outlook Positive

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

Mar. 09, 2016

Series 125

Loan (Trust Account 1169041)

[ Asset Securitization Products ] JCR Assigned Pre. J-1+ to A Corp. Bills Rec. Senior Ben. Int. 16-03

JCR Affirmed AA-/Stable and J-1+ Rating on Japan Securities Finance

JCR Affirmed A+/Stable and J-1+ Rating on JSF Trust and Banking

Mar. 08, 2016

JCR Assigned BBB- to Sumitomo Mitsui Trust ABL11341

JCR Assigned BBB+ to Sumitomo Mitsui Trust ABL11339

JCR Assigned BBB+ to Sumitomo Mitsui Trust ABL11340

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

JCR Affirmed AAA Rating on Bonds (gtd. by DBJ) of Suzuyo

JCR Affirmed BBB- Rating on PIONEER; Revised Outlook to Stable

Mar. 07, 2016

JCR Affirmed AA/Stable and AA Rating on DAIWA HOUSE INDUSTRY

JCR Assigned BBB Rating to Bonds of KYORITSU MAINTENANCE

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

Mar. 04, 2016

JCR Assigned AA to Bonds of Keio Corporation

JCR Assigned A+ to Bonds of Don Quijote Holdings

JCR Affirmed AA+/Stable Long-term Issuer Rating on Shoko Chukin Bank

JCR Assigned BBB+ Rating to Bonds of KANEMATSU

JCR Affirmed AA-/Stable on Daiwa Office Investment Corporation

JCR Affirmed A- on JAL; Revised Outlook from Stable to Positive

JCR Affirmed AA/Stable Long-term Issuer Rating on Kanagawa Univ.

JCR Affirmed A- and J-1 on ANA HOLDINGS; Revised Outlook to Positive

Mar. 03, 2016

JCR Assigned A to CS Mega Solar Green Proj. Ben. Int/Trust ABL

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

JCR Assigned AAA Rating to Bonds of East Nippon Expressway

JCR Affirmed A/Stable and A- Rating on SBI Sumishin Net Bank

Mar. 02, 2016

JCR Affirmed A-/Stable Rating on AEON Thana Sinsap (Thailand)

JCR Affirmed AA-/Stable on CABEI

JCR Affirmed A-/Stable and J-1 on AEON KYUSHU

JCR Affirmed A/Stable, A, A- and J-1 on AEON Financial Service

JCR Assigned AA- to Bonds of Kansai Electric Power Company

Mar. 01, 2016

JCR Affirmed A on Kurimoto Mega Solar Project Ben.Int./Trust ABL

JCR Affirmed A/Stable LT Issuer Rating on FIRST BANK OF TOYAMA

JCR Affirmed BBB-/Stable Long-term Issuer Rating on Howa Bank

JCR Assigned A- Rating to Bonds of NEC Capital Solutions

Feb. 29, 2016

Trust Bonds No.125

[ Asset Securitization Products ] JCR Assigned J-1+ to Bills Receivable ABL16-02 (A Corp. in Niigata)

[ Asset Securitization Products ] JCR Assigned J-1 to Nohara Bills Receivable ABL16-02

[ Asset Securitization Products ] JCR Assigned J-1+ to Teral Bills Receivable ABL16-02

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

Feb. 26, 2016

JCR Assigned Pre BBB- to Sumitomo Mitsui Trust ABL11341

[ Asset Securitization Products ] JCR Assigned J-1 to Aso Shoji Bills Receivable ABL16-02

JCR Assigned Pre BBB+ to Sumitomo Mitsui Trust ABL11339

JCR Assigned Pre BBB+ to Sumitomo Mitsui Trust ABL11340

JCR Assigned A+ and A- to Bonds of Mitsubishi UFJ Financial Group

JCR Assigned A+ Rating to Bonds of Nishi-Nippon Railroad

JCR Affirmed J-1 on CP of Mitsubishi Electric Credit; Max Amount Up

JCR Affirmed A/Positive, A and J-1 on DOWA HOLDINGS

JCR Affirmed AAA/Stable on Development Bank of Japan Inc.

Business Integration between Fukuoka Financial Group and Eighteenth Bank - Limited Impact on Ratings

Feb. 25, 2016

Series 1602-B01

Series 1602-B02

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

[ Asset Securitization Products ] JCR Assigned J-1+ to MSNW Trust Certificate Series 16020

JCR Assigned BBB+ Rating to Subordinated Loan of ISUZU MOTORS

JCR Assigned AA to Bonds of Chugoku Electric Power Company

JCR Placed Sharp's Rating under Credit Monitor #B+[Positive]

Feb. 24, 2016

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

JCR Affirmed A+/Stable and J-1 Rating on Sumitomo Bakelite

JCR Affirmed BBB+ (FC/LC) ratings on IRFC

JCR Affirmed A+/Stable, A+ and J-1 Rating on NH Foods

Feb. 23, 2016

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

[ Asset Securitization Products ] JCR Assigned J-3 to Narasaki Stax Accounts Receivable ABL16-02

JCR Assigned AAA to Bonds of Tokyo Metro

JCR Affirmed A Rating on JRHI; Revised Outlook to Positive

JCR Affirmed BB-/Stable on Asahi Mutual Life Insurance

Feb. 22, 2016

[ Asset Securitization Products ] JCR Assigned J-1 to Hyakugo Bank B Corp. Bills Rec. ABL16-02