News Release

Mar. 19, 2014

[ Asset Securitization Products ] JCR Assigned J-3 to Narasaki Stax Accounts Receivable ABL14-03

[ Asset Securitization Products ] JCR Assigned Preliminary J-1 to Hyakugo Bank B Corporation Bills Receivable ABL14-03

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

JCR Assigned A Rating to Bonds of Takata Corporation

JCR Assigned BBB+ Rating to Bonds of HIKARI TSUSHIN

JCR Affirmed A-/Stable and J-1 Rating on Idemitsu Credit

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

JCR's Opinion on Approval for SEIBU HOLDINGS Stock Listing on TSE

JCR Affirmed BBB/Stable Long-term Issuer Rating and BBB on TONAMI HOLDINGS

Mar. 18, 2014

[ Asset Securitization Products ]JCR Assigned J-1 to Medical Fees Receivable ABL14-03 (F Hospital)

[ Asset Securitization Products ]JCR Assigned Preliminary J-1+ to MSNW Trust Certificate Series 14030

JCR Affirmed BBB/BBB+ (FC/LC) Ratings Hungary; Revised Outlook from Negative to Stable

JCR Affirmed BBB/BBB+ (FC/LC) Ratings on NBH; Revised Outlook from Negative to Stable

JCR Assigned BBB Rating to Subordinated Loan of TOYOBO

JCR Assigned AA/Stable Long-term Issuer Rating to Showa University

JCR Affirmed A+/Stable Long-term Issuer Rating on Comforia Residential REIT

JCR Affirmed A/Stable, A, Preliminary A and J-1 on Takata Corporation

JCR Removed Credit Monitor; Affirmed BBB- Long-term Issuer Rating on Showa Aircraft Industry

Mar. 17, 2014

JCR Assigned BBB Rating to JAG Mega Solar Project Bond Trust 1 Trust ABL

JCR Placed Rating on CP of Daiko Clearing Services under Credit Monitor #J-2[Positive]

JCR Affirmed A-/Negative and J-1 Rating on MITSUMI ELECTRIC

JCR Upgraded Rating on ORIX CORPORATION from A/Stable to A+/Stable

JCR Assigned AA/Stable Long-term Issuer Rating to Kanagawa Prefectural Housing Supply Corporation

Mar. 14, 2014

JCR Assigned BBB+ Rating to Bonds of Tokyo Tatemono

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

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

Affirmed A/Stable Long-term Issuer Rating and J-1 on Sanyo Special Steel

JCR Assigned AAA Rating to Bonds of Aichi Prefecture

Assigned AA- Rating to Bonds of Hitachi Capital Corporation

JCR Assigned Preliminary A- Rating to Shelf Registration of POCKET CARD

JCR Assigned A Rating to Bonds of TonenGeneral Sekiyu

JCR Assigned A- Rating to Subordinated Loan of Ogaki Kyoritsu Bank

JCR Assigned AA- Rating to Bonds of Kansai Electric Power

Mar. 13, 2014

JCR Assigned AA+/Stable Long-term Issuer Rating to Japan Logistics Fund

JCR Affirmed A-/Negative, A- and J-1 on NIPRO

Mar. 12, 2014

JCR Assigned A Rating to Bonds of Sumitomo Realty & Development

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

JCR Affirmed A+/AA- (FC/LC) Long-term Issuer Ratings on Daejeon City
JCR Affirmed A+ Ratings on Bonds of Daejeon Riverside Expressway Funding

JCR Affirmed A/Stable Long-term Issuer Rating and J-1 on AEON KYUSHU

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

Mar. 11, 2014

[ Asset Securitization Products ] JCR Assigned Preliminary J-1+ to Saitama Resona Bank A Corporation Bills Receivable Senior Beneficial Interest 14-03

JCR Upgraded Rating on HIKARI TSUSHIN from BBB/Positive, BBB and Preliminary BBB to BBB+/Stable, BBB+ and Preliminary BBB+

JCR Affirmed BBB/Stable Long-term Issuer Rating on SHINNIHON CORPORATION

JCR Affirmed A/Stable and A- Rating on SHIMIZU BANK

JCR Assigned A+ Rating to Bonds and A Rating to Sub. Bonds of AEON Financial Service

JCR Affirmed J-2 Rating on CP of TOHO

JCR Affirmed AAA Rating on Bonds of Suzuyo

Mar. 10, 2014

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

JCR Affirmed A-/Stable and J-1 Rating on SAN-AI OIL

JCR Assigned A/Stable Long-term Issuer Rating to MORTGAGE CORPORATION OF JAPAN

Mar. 07, 2014

[ Asset Securitization Products ] JCR Assigned J-1+ to Hokuriku Bank D Corporation Bills Receivable ABL14-03

JCR Assigned AA- Rating to Bonds of JFE Holdings

JCR Assigned AAA Ratings to AfDB's Notes

JCR Affirmed J-1 Rating on CP of DIC; Increase in CP Maximum Amount

JCR Assigned A+ Rating to Bonds of Nikon

JCR Assigned A Rating to Bonds of Fuyo General Lease

JCR Assigned Preliminary A Rating to Shelf Registration of Denki Kagaku Kogyo

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

JCR Assigned A Rating to Bonds of Japan Hotel REIT

JCR Assigned Preliminary A+ Rating to Shelf Registration of AEON Financial Service

JCR Assigned A+ Rating to Bonds of Sumitomo Warehouse

JCR Assigned AA Rating to Bonds of Chugoku Electric Power

JCR Affirmed A-/Stable Rating on AIN PHARMACIEZ

Mar. 06, 2014

JCR Assigned A Rating to Bonds of Hokuetsu Kishu Paper

JCR Affirmed A/Stable and J-1 Rating on IBJL-TOSHIBA Leasing

JCR Affirmed AA-p Rating on Deutsche Bank

JCR Affirmed A/Stable, A, Pre. A and J-1 Rating on IBJ Leasing

Mar. 05, 2014

JCR Assigned AA- Rating to Bonds of TOKYU REIT

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

JCR Assigned AA Rating to Bonds of Mitsubishi Logistics

JCR Affirmed AA/Stable, AA, Preliminary AA and J-1+ on Sumitomo Electric Industries

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

Mar. 04, 2014

JCR Assigned BBB+ Rating to Bonds of PACIFIC INDUSTRIAL

JCR Assigned A- Rating to Bonds of Nisshin Steel

Mar. 03, 2014

JCR Affirmed BBB Long-term Issuer Rating on Tsukuba Bank; Revised Outlook from Stable to Positive

Feb. 28, 2014

[ Asset Securitization Products ] JCR Assigned J-1 to Nohara Bills Receivable ABL14-02

[ Asset Securitization Products ] JCR Assigned J-1+ to Teral Bills Receivable ABL14-02

[ Asset Securitization Products ] JCR Assigned J-1 to Hayakawa Rubber Bills Receivable ABL14-02

[ Asset Securitization Products ] JCR Assigned J-1 to Molten Bills Receivable ABL14-02

JCR Withdraws BBB+/Stable Long-term Issuer Rating on MATSUDA SANGYO

JCR Withdraws J-2 Rating on CP of OKABE

JCR Assigned A- Rating to Bonds of ANA HOLDINGS

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

JCR Withdraws J-2 Short-term Issuer Rating on Tokyo Tomin Bank

JCR Assigned AA- Rating to Bonds of Japan Excellent, Inc.

JCR Affirmed AA-/Stable Long-term Issuer Rating on Benesse Holdings

JCR Withdraws J-1+ Short-term Issuer Rating on Resona Bank
JCR Withdraws J-1+ Short-term Issuer Rating on Saitama Resona Bank

JCR Assigned Preliminary A+ Rating to Shelf Registration of Shimadzu

Feb. 27, 2014

[ Asset Securitization Products ] JCR Assigned J-1 to Aso Shoji Bills Receivable ABL14-02

JCR Assigned BBB Rating to Subordinated Bonds of NAGANO BANK

Feb. 26, 2014

[ Asset Securitization Products ] JCR Assigned J-1 to CATERPILLAR Kyushu Bills ABL14-02

JCR Assigned J-1 to Hyakugo Bank B Corporation Bills Receivable ABL14-02

JCR Upgraded Rating on Aozora Bank from BBB+/Positive to A-/Stable

JCR Affirmed AAp/Stable Rating on Japan Earthquake Reinsurance

JCR Affirmed AA/Stable and AA Rating on JPY bonds of CAF

Feb. 25, 2014

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL14-02 (D Hospital)

[ Asset Securitization Products ]JCR Assigned J-1+ to MSNW Trust Certificate Series 14020

[ Asset Securitization Products ]JCR Affirmed A on NIHONWASOU CREDIT Installment Sales Receivable Securitization 201212

[ Asset Securitization Products ]JCR Affirmed J-1 on Dispensing Fees Receivable ABL Program (Nanba Pharmacy)

JCR Affirmed BBB+/Stable, BBB+ and J-2 on Mitsubishi Materials