News Release

May. 14, 2014

Highlights of Blast Furnace Steelmakers' Financial Results for Fiscal Year Ended March 31, 2014

May. 13, 2014

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

JCR Assigned A- Rating to Bonds of MORI BUILDING

JCR's Opinion on Mitsubishi Chemical Holdings Corporation's Tender Offer for Shares of TAIYO NIPPON SANSO - Limited Impact on Rating for TAIYO NIPPON SANSO

JCR Affirmed #BBB-[Negative] on Sharp

JCR's Opinion on Mitsubishi Chemical Holdings Corporation's Tender Offer for Shares of TAIYO NIPPON SANSO - Limited Impact on Rating for Mitsubishi Chemical Holdings Corporation

May. 12, 2014

JCR's Opinion on Mitsubishi UFJ Lease & Finance's Acquisition of Overseas Leasing Companies

JCR Affirmed A/Stable and A- on Miyazaki Bank

May. 09, 2014

[ Asset Securitization Products ] JCR Assigned J-1+ to Hokuriku Bank D Corporation Bills Receivable ABL14-05

May. 08, 2014

JCR Affirmed AA-/Stable Long-term Issuer Rating on San-in Godo Bank

May. 07, 2014

JCR Affirmed BBB/Stable and J-2 Rating on Daiei Real Estate & Development

JCR Affirmed A-/Stable Long-term Issuer Rating on OHSHO FOOD SERVICE

May. 02, 2014

JCR's Opinion on SONY's Earnings Revision for FY2013

JCR Assigned AAA Rating to Bonds of Aichi Prefecture

May. 01, 2014

JCR Removed CM; Downgraded Rating on Suntory Holdings, SUNTORY EUROPE, SUNTORY CAPITAL AMERICA from #AA[Negative] to AA- with Stable Outlook

JCR Affirmed BBB+/Stable Long-term Issuer Rating on Nippon Tochi-Tatemono

JCR Removed CM; Downgraded Rating on Suntory Beverage & Food from #AA[Negative] to AA- with Stable Outlook

JCR Affirmed AA/AA (FC/LC) Ratings on Spain; Revised Outlook from Negative to Stable

JCR Affirmed A+/A+ (FC/LC) Ratings on Slovakia

Apr. 30, 2014

[ Asset Securitization Products ] JCR Assigned J-1+ to Teral Bills Receivable ABL14-04

[ Asset Securitization Products ] JCR Assigned J-1 to Nohara Bills Receivable ABL14-04

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

JCR Affirmed AAA/Stable and AAA Ratings on LBBW

JCR Affirmed AA-/Stable and AA- Rating on LIXIL Group

JCR's Opinion on Third-party Allocation of Shares by Kyushu Electric Power Company

JCR's Opinion on ORIX's Acquisition of Hartford Life Insurance

JCR's Opinion on Oji Holdings' Acquisition of Pulp, Paper and Packaging Businesses in New Zealand

JCR's Opinion on Third-party Allocation of Shares by Hokkaido Electric Power Company

Apr. 28, 2014

[ Asset Securitization Products ] JCR Assigned J-1 to Hayakawa Rubber Bills Receivable ABL14-04

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

JCR Affirmed BBB+ Rating on EMTN of Tokai Tokyo Financial Holdings; Increase in Maximum Amount of Program

Apr. 25, 2014

[ Asset Securitization Products ]JCR Assigned J-1+ to MSNW Trust Certificate Series 14040

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

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

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

JCR Affirmed AA- Rating on EMTN of ITOCHU
JCR Affirmed AA- Rating on EMTN of ITOCHU Treasury Centre Europe

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

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

Apr. 24, 2014

[ Asset Securitization Products ] JCR Assigned J-1 to Hyakugo Bank B Corporation Bills Receivable ABL14-04

[ Asset Securitization Products ] JCR Assigned J-3 to Monthly Clear Card Shopping Receivable ABL 14-04

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL14-04 (D Hospital)

JCR Affirmed AA-/Stable Long-term Issuer Rating and AA- on MORI HILLS REIT

JCR's Opinion on Sumitomo Bakelite's Acquisition of a U.S. Plastics Components Manufacturer

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

JCR Affirmed A/Stable Long-term Issuer Rating on J. F. Oberlin University and Affiliated Schools

Apr. 23, 2014

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

JCR Affirmed A-/Stable Long-term Issuer Rating on Nittetsu Mining

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

JCR Affirmed A/Stable Long-term Issuer Rating and A- Rating on Subordinated Bonds of Nanto Bank

Apr. 22, 2014

[ Asset Securitization Products ] JCR Assigned J-3 to Narasaki Stax Accounts Receivable ABL14-04

JCR Assigned AA- Rating to Bonds of Sumitomo Mitsui Trust Bank

JCR Affirmed A+/Stable Long-term Issuer Rating and J-1+ on Kyoei Fire & Marine Insurance

JCR Assigned AA- Rating to Bonds of TOKYU CORPORATION

JCR Assigned AA- Rating to Bonds of Mizuho Bank

JCR Assigned A Rating to Bonds of Sumitomo Realty & Development

Apr. 21, 2014

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL14-04 (F Hospital)

[ Asset Securitization Products ] JCR Assigned Preliminary J-1 to Hyakugo Bank B Corporation Bills Receivable ABL14-04

JCR Affirmed AAA/AAA (FC/LC) Long-term Issuer Ratings on Germany

JCR Affirmed A+/Stable and J-1 on Sumitomo Mitsui Trust Panasonic Finance

Apr. 18, 2014

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

JCR Affirmed A-/Stable Long-term Issuer Rating and A- on OKAMURA CORPORATION

JCR Assigned A- Rating to Bonds of TSUBAKIMOTO CHAIN

JCR Assigned AA- to Bonds of ADR

JCR Assigned A Rating to Bonds of Hulic

JCR Assigned A+ Rating to Bonds of SUMITOMO CHEMICAL

JCR Assigned A- Rating to Bonds of Nagoya Railroad

Apr. 17, 2014

JCR Assigned AA- Rating to Bonds of Activia Properties

JCR Assigned A-/Stable Long-term Issuer Rating and J-1 to Rakuten Bank

JCR Assigned AA- Rating to Bonds of Tohoku Electric Power

Apr. 16, 2014

JCR Assigned Preliminary J-1+ to MSNW Trust Certificate Series 14040

JCR Assigned AAA Rating to Bonds of Aichi Prefecture

JCR Affirmed A-/Stable Long-term Issuer Rating on Ryoden Trading

JCR Affirmed AA/Stable Long-term Issuer Rating and AA on NITTO DENKO

JCR Assigned BBB Rating to Bonds of Sojitz Corporation

JCR Assigned AA Rating to Bonds of DAIWA HOUSE INDUSTRY

JCR Affirmed AA-/Stable and J-1+ Rating on Sumitomo Mitsui Card

JCR Assigned AA Rating to Bonds of Bank of Tokyo-Mitsubishi UFJ

JCR Assigned AA Rating to Bonds of Sumitomo Mitsui Banking Corporation

JCR Affirmed A-/Stable and J-1 on Nippon Steel Kowa Real Estate

JCR Assigned Preliminary A+ Rating to Shelf Registration (subordinated bonds with contractual point of non-viability loss absorption feature) of Mitsubishi UFJ Financial Group

Apr. 15, 2014

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

JCR Upgraded Long-term Issuer Rating on OKASAN SECURITIES GROUP from BBB/Stable to BBB+/Stable
JCR Upgraded Long-term Issuer Rating on OKASAN SECURITIES from BBB/Stable to BBB+/Stable

JCR Downgraded Rating on KAPPA CREATE HOLDINGS from BBB/Stable to BBB-/Negative

JCR Upgraded Rating on Tokai Tokyo Financial HD from BBB/Stable to BBB+/Stable, affirmed J-2 Short-term Issuer Rating and CP
JCR Upgraded Rating on Tokai Tokyo Securities from BBB/Stable to BBB+/Stable

JCR Affirmed A-/Positive Long-term Issuer Rating on Hiroshimashi Credit Cooperative

JCR Affirmed A-/Stable, A- and Preliminary A- on TOBU RAILWAY

JCR Affirmed BBB/Stable Long-term Issuer Rating on FUTABA INDUSTRIAL

JCR Affirmed AA-/Stable Long-term Issuer Rating on Maruichi Steel Tube

Apr. 14, 2014

JCR Affirmed A+/AA- (FC/LC) Ratings on KEPCO

Apr. 11, 2014

JCR Affirmed J-1 Rating on CP of Sumitomo Mitsui Trust Loan & Finance; Increase in CP Maximum Amount

JCR Assigned AA- Rating to Bonds of JCB

JCR Assigned A+ Rating to Bonds of Century Tokyo Leasing

JCR Assigned AAA Rating to Bonds of Aichi Prefecture

Apr. 10, 2014

JCR Affirmed J-1+ Rating on ABCP Program of Godo Kaisha GK 48; Maximum amount increase

JCR Assigned Preliminary A- Rating to Shelf Registration of Ube Industries

JCR Affirmed J-2 Rating on CP of KYOKUYO

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

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

Apr. 09, 2014

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

JCR Assigned Preliminary A+ Rating to Shelf Registration of SUMITOMO CHEMICAL