News Release

Jan. 27, 2016

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

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

JCR Affirmed A+/Stable and J-1 on Century Tokyo Leasing
JCR Affirmed A+/Stable, J-1 on NIPPON CAR SOLUTIONS; Inc.of CP Max.
JCR Affirmed A+/Stable and J-1 on FUJITSU LEASING

JCR Assigned AA+ Rating to Bonds of JASSO

JCR Removed CM; Upgraded HigashiNippon Bank from #A-[Positive] to AA-

Jan. 26, 2016

JCR Affirmed A on JRE Mega Solar Proj Bond Trust 2 Beneficial Int.

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL16-01 (D Hospital)

JCR Affirmed A on JRE Mega Solar Project Class B Ben.Int./Trust ABL

JCR Affirmed BBB+ on JRE Mega Solar Project Class C Beneficial Int.

JCR Affirmed A- on JRE Mega Solar Project Class A Ben.Int/Trust ABL

JCR Assigned Pre. A+ Rating to Bonds of YOKOHAMA MINATOMIRAI RAILWAY

JCR Affirmed A+ and Pre. A+ on NGK SPARK PLUG; Outlook Positive

JCR Affirmed A+/Stable on Sumitomo Riko Company

JCR Assigned A+ Rating to Bonds of Marubeni Corporation

JCR Affirmed AA-/Stable LT Issuer Rating on Sekisui House Reit

Jan. 25, 2016

[ Asset Securitization Products ] JCR Assigned J-1+ to MSNW Trust Certificate Series 16010

JCR Affirmed A/Stable on Nippon Paper Industries

JCR Affirmed A+p/Stable on Oji Holdings

JCR Assigned AA+/Stable and Pre. AA+ to NARITA INTERNATIONAL AIRPORT

JCR Affirmed AAA/Stable, AAA and Pre. AAA Rating on NTT DOCOMO

Jan. 22, 2016

JCR Assigned A Rating to Bonds of Nomura Real Estate Holdings

Jan. 21, 2016

[ Asset Securitization Products ] JCR Assigned Preliminary J-1 to Aso Shoji Bills Receivable ABL16-01

[ Asset Securitization Products ] JCR Assigned J-3 to Narasaki Stax Accounts Receivable ABL16-01

JCR Affirmed BBB/Stable and BBB- (Sub.) on TOTTORI BANK

JCR Affirmed A+/Stable on OITA BANK

JCR Assigned A- Rating to Bonds of Nomura Holdings

Jan. 20, 2016

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL16-01 (F Hospital)

JCR Assigned A to Bonds of HIROSHIMA GAS

JCR Assigned AA- to Bonds of Kansai Electric Power

JCR Affirmed BBB+/Positive on SATO HOLDINGS

JCR Assigned AAA Rating to Bonds of East Nippon Expressway

Jan. 19, 2016

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

JCR Assigned A- to Bonds of Sotetsu Holdings

Rating Senior Bonds Issued by holding companies of Japanese G-SIBs - with a View to TLAC

Jan. 18, 2016

[ Asset Securitization Products ] JCR Assigned Preliminary J-1+ to MSNW Trust Certificate Series 16010

JCR Affirmed A-/Stable, A-, Pre. A- and J-1 Rating on Ube Industries

JCR Affirmed A+ on SANKEI BUILDING; Revised Outlook to Negative

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

JCR Affirmed A- on SQUARE ENIX HOLDINGS; Revised Outlook to Positive

Jan. 15, 2016

JCR Affirmed A/Stable, A, Pre. A and J-1 on Sumitomo Osaka Cement

Aderans' Downward Revision of Earnings Forecasts

JCR Affirmed A+/Stable Rating on Fukuoka Kogyo Daigaku

JCR Affirmed A+/Stable and A on SHIGA BANK

JCR Assigned AA- to Bonds of Mitsubishi UFJ Lease & Finance

JCR Assigned AA to Bonds of Chubu Electric Power

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

JCR Assigned BBB+ to Bonds of Nankai Electric Railway

JCR Affirmed BBB+/Stable Long-term Issuer Rating on Chuo Warehouse

JCR Assigned AA to Bonds of Chugoku Electric Power Company

JCR Assigned AAA to Bonds of Aichi Prefecture

JCR Assigned A- to Bonds of Orient Corporation

Jan. 14, 2016

[ Asset Securitization Products ] JCR Assigned J-1+ to D Corporation Bills Receivable ABL16-01

JCR Affirmed A-/Stable, A- and J-1 Rating on MITSUBISHI MATERIALS

JCR Affirmed AA/Stable on MORI TRUST Sogo Reit

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

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

JCR Affirmed A/Stable, A, Pre. A and J-1 Rating on Mitsui Chemicals

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

Jan. 13, 2016

JCR Assigned AA- to Bonds of Kyushu Electric Power

JCR Affirmed A-/Stable on OKAYA & CO., LTD.

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

JCR Assigned AAA to Bonds of Development Bank of Japan

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

Jan. 12, 2016

JCR Withdraws BBB/Stable Long-term Issuer Rating on COSMO OIL

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