News Release

Jul. 10, 2014

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

Jul. 09, 2014

JCR Assigned Preliminary A Rating to JRE Mega Solar Project Bond Trust 2 Beneficial Interest and Trust ABL

JCR Assigned AA- Rating to Bonds of Asahi Group Holdings

JCR Affirmed BBB+/Stable Long-term Issuer Rating and J-2 Rating on CP for RESORTTRUST

JCR Assigned BBB+ Rating to Bonds of Kintetsu Corporation

JCR Assigned A Rating to Subordinated Bonds (with contractual point of non-viability loss absorption feature) of Mizuho Financial Group

JCR Affirmed BBB+ Rating on Hanwha Chemical

Jul. 08, 2014

JCR Affirmed A+ Ratings on Shinhan Bank

JCR Assigned AAA Rating to Bonds of Development Bank of Japan

JCR Assigned Preliminary AA Rating to Shelf Registration of Sumitomo Mitsui Banking Corporation

Jul. 07, 2014

[ Asset Securitization Products ]JCR Affirmed BBB Rating on ABL of WBBL

JCR Assigned Preliminary A Rating to Shelf Registration of Kobe Steel

Jul. 04, 2014

JCR Affirmed BBB- Long-term Issuer Rating and J-2 Rating on CP for ICHINEN HOLDINGS; Revised Outlook from Stable to Positive

JCR Upgraded Rating on AIR WATER from A/Positive to A+/Stable

JCR Assigned AA- Rating to Bonds of Odakyu Electric Railway

JCR Upgraded Rating on PENTA-OCEAN CONSTRUCTION from BBB+/Stable, BBB+ and J-2 to A-/Stable, A- and J-1

JCR Assigned AA- Rating to Bonds of RICOH LEASING

Jul. 02, 2014

JCR Assigned Preliminary A Rating to Shelf Registration of SHOWA SHELL SEKIYU; Affirmed A/Stable, A and J-1

Jul. 01, 2014

JCR Affirmed AA-p Long-term Issuer Rating on Hitachi; Revised Outlook from Stable to Positive

JCR Affirmed BBB+/Stable Long-term Issuer Rating on TSUKADA GLOBAL HOLDINGS (Former BEST BRIDAL Inc.)

JCR Assigned Preliminary AA+ Rating to Shelf Registration of NTT DATA

JCR Placed Ratings on Busan Bank under Credit Monitor #A[Negative]

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

Highlights of Major Oil Distributors' Financial Results for Fiscal Year Ended March 31, 2014

JCR Affirmed AAA Ratings on Belgium

Jun. 30, 2014

[ Asset Securitization Products ] JCR Assigned J-1+ to Teral Bills Receivable ABL14-06

[ Asset Securitization Products ] JCR Assigned J-1 to Nohara Bills Receivable ABL14-06

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

JCR Affirmed BBB+/Stable Long-term Issuer Rating and BBB+/Stable Rating on Ability to Pay Insurance Claims for Daido Fire & Marine

JCR's Opinion on Progress in Accordia Golf's Business Trust Scheme

Highlights of Major Automakers' Financial Results for Fiscal Year Ended March 31, 2014

Jun. 27, 2014

[ Asset Securitization Products ] JCR Assigned J-1 to Aso Shoji Bills Receivable ABL14-06

JCR Affirmed A+/Negative Long-term Issuer Rating and J-1 on CP for TOC

JCR Upgraded Rating on Mazda Motor from BBB+/Stable, BBB+ and Preliminary BBB+ to A-/Stable, A- and Preliminary A-

JCR Affirmed A Long-term Issuer Rating and A Rating on Bonds for SONY; Revised Outlook from Stable to Negative

JCR Affirmed AA-/Stable, AA- on Nomura Holdings
JCR Affirmed AA-/Stable, AA- on Nomura Securities
JCR Affirmed AA-/Stable, AA- on Nomura Bank International
JCR Affirmed AA- on Nomura Europe Finance

Highlights of Warehouse Companies' Financial Results for Fiscal Year Ended

Jun. 26, 2014

JCR Assigned Preliminary AA- Rating to Shelf Registration of Kyushu Electric Power

Jun. 25, 2014

[ Asset Securitization Products ] JCR Assigned J-3 to Monthly Clear Card Shopping Receivable ABL 14-06

[ Asset Securitization Products ] JCR Assigned J-1+ and J-2 to Hokuriku Bank C Corporation Bills Receivable ABL14-06

[ Asset Securitization Products ] JCR Assigned J-1 to Kimura Bills Receivable ABL14-06

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL14-06 (D Hospital)

[ Asset Securitization Products ]JCR Assigned J-1+ to MSNW Trust Certificate Series 14060

JCR's Opinion on PIONEER's Capital/Business Alliance in Home AV Business

Jun. 24, 2014

[ Asset Securitization Products ] JCR Assigned J-1+ to Saitama Resona Bank A Corporation Bills Receivable Senior Beneficial Interest 14-06

JCR Affirmed A-/Stable Long-term Issuer Rating, A- Rating on Bonds and Preliminary A- Rating on Shelf Registration for Nisshin OilliO Group

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

JCR Assigned Preliminary A+ Rating to Shelf Registration of Hankyu Hanshin Holdings

JCR Affirmed A+/Stable Long-term Issuer Rating, A+ Rating on Bonds, Preliminary A+ Rating on Shelf Registration and J-1 Rating on CP for MEIJI Holdings

JCR Upgraded Long-term Issuer Rating and Bond Rating for Daiwa Securities Group from A/Positive and A to A+/Stable and A+
JCR Upgraded Long-term Issuer Rating for Daiwa Securities from A/Positive to A+/Stable

Jun. 20, 2014

[ Asset Securitization Products ] JCR Assigned J-3 to Narasaki Stax Accounts Receivable ABL14-06

[ Asset Securitization Products ] JCR Assigned Preliminary J-1 to Aso Shoji Bills Receivable ABL14-06

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

JCR Assigned AA Rating to Bonds of Industrial & Infrastructure Fund Investment Corporation

JCR Downgraded Rating on SUMCO from A-/Negative and J-1 to BBB+/Stable and J-2

JCR Affirmed A+/Stable Long-term Issuer Rating, A+, Preliminary A+ and J-1 on THK

JCR Assigned AA- Rating to Bonds of Suntory Beverage & Food

JCR Assigned A+ Rating to Subordinated Bonds (with contractual point of non-viability loss absorption feature) of Mitsubishi UFJ Financial Group

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

Highlights of General Trading Companies' Financial Results for Fiscal Year Ended March 31, 2014

Jun. 19, 2014

JCR's Rating Review of Money Market Brokers

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL14-06 (F Hospital)

JCR Withdraws A+/Stable Long-term Issuer Rating on Mitsubishi Rayon

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

JCR Affirmed A/Stable Long-term Issuer Rating and A- Rating on Subordinated Bonds for Hokuetsu Bank

JCR Affirmed A-/Stable Long-term Issuer Rating, BBB+ Rating on Subordinated Bonds and Preliminary A- Rating on Shelf Registration for Shikoku Bank

Jun. 18, 2014

[ Asset Securitization Products ] JCR Assigned Preliminary J-1+ to MSNW Trust Certificate Series 14060

JCR Assigned A+ Rating to Bonds of Sumitomo Rubber Industries

Highlights of Major Real Estate Companies' Financial Results for Fiscal Year Ended March 31, 2014

Jun. 17, 2014

JCR Affirmed A+ Rating on Bonds of SCB Securitization Company

JCR's Opinion on Mitsubishi Heavy Industries/Siemens Proposal for Alstom

JCR Assigned Preliminary A+ Rating to Shelf Registration of Comforia Residential REIT

JCR Affirmed A+/Stable Long-term Issuer Rating and J-1 on Sumitomo Mitsui Trust Loan & Finance

Highlights of Private Railroad Companies' Financial Results for Fiscal Year Ended March 31, 2014

Jun. 16, 2014

JCR Withdraws J-2 Rating on CP of FUJI ELECTRIC

Jun. 13, 2014

JCR Assigned AAA Rating to Bonds of Aichi Prefecture

JCR Assigned AAA Ratings to AfDB's Notes

JCR Affirmed A-/Stable Long-term Issuer Rating, A-, Preliminary A- and J-1 and BBB on Sub.Bonds for DIC

JCR Affirmed A/Stable Long-term Issuer Rating and J-1 Rating on CP for LINTEC

JCR Affirmed AA-/Stable Long-term Issuer Rating, AA- and J-1+ on JCB

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

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

JCR Assigned BBB+ Rating to Bonds of NICHIAS

JCR Assigned A- Rating to Bonds of Rakuten

JCR Assigned A Rating to Bonds of Mitsui O.S.K. Lines

JCR Affirmed A/Stable Long-term Issuer Rating on Shinkin Guarantee Fund

JCR Placed Rating on AIFUL under Credit Monitor #CCC[Positive]

Jun. 12, 2014

JCR Affirmed BBB-/Negative Long-term Issuer Rating on PIONEER CORPORATION

JCR Assigned A Rating to Bonds of Nippon Paper Industries

Jun. 11, 2014

JCR Affirmed AA-/Stable Long-term Issuer Rating on Nomura Real Estate Master Fund

JCR Affirmed BBB/Stable Long-term Issuer Rating on Tokushu Tokai Paper

JCR Assigned A- Rating to Bonds of IHI

JCR Affirmed A Rating on Seibu Shinkin Bank; Revised Outlook from Stable to Positive

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

JCR Assigned A+ Rating to Bonds of Mitsubishi Chemical Holdings

JCR Assigned A- Rating to Bonds of TOBU RAILWAY

Jun. 10, 2014

JCR Affirmed A+/Stable Long-term Issuer Rating, A+, Preliminary A+ and J-1 Rating on Yokohama Rubber

JCR Assigned A+ Rating to Bonds of Shimadzu Corporation

JCR Assigned BBB Rating to Bonds of Sojitz Corporation

JCR Affirmed AA/Stable Long-term Issuer Rating and J-1+ on BRIDGESTONE