News Release

Feb. 01, 2013

JCR Assigned AA- Rating to Bonds of ORIX JREIT Inc.

JCR Assigned AA- Rating to Bonds of Sumitomo Mitsui Finance & Leasing

JCR Affirmed A+/Stable and A on Musashino Bank

Jan. 31, 2013

[ Asset Securitization Products ] JCR Assigned J-1 to Nohara Bills Receivable ABL13-01

[ Asset Securitization Products ] JCR Assigned J-1+ to Teral Bills Receivable ABL13-01

[ Asset Securitization Products ] JCR Assigned J-1 to Molten Bills Receivable ABL13-01

[ Asset Securitization Products ] JCR Assigned J-1 to Toda Kogyo Bills Receivable ABL13-01

JCR Affirmed AA+ Ratings on EDF

JCR Assigned AAA; Affirmed AAA Rating on Bonds of Aichi Prefecture

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

JCR Assigned A Rating to Subordinated Loan of JFE Holdings

JCR Affirmed AAA/Stable Long-term Issuer Rating on Hitotsubashi University

Jan. 30, 2013

[ Asset Securitization Products ] JCR Assigned J-1 to Aso Shoji Bills Receivable ABL13-01

[ Asset Securitization Products ] JCR Assigned J-1 to Hayakawa Rubber Bills Receivable ABL13-01

Jan. 29, 2013

JCR Affirmed BBB/Stable Rating on Nakamuraya

JCR Affirmed J-2 Rating on CP of Daiko Clearing Services

JCR Affirmed A+/Stable Long-term Issuer Rating on DISCO Corporation

JCR Affirmed AA+/Stable Rating on Seven & i Holdings
JCR Affirmed AA+/Stable Rating on Seven-Eleven Japan

JCR Assigned AA+ Rating to Bonds of Japan Student Services Organization; Affirmed AA+/Stable and AA+

Jan. 28, 2013

[ Asset Securitization Products ] JCR Assigned J-1 to Hyakugo Bank B Corporation Bills Receivable ABL13-01

JCR Affirmed AA+ Ratings on GDF SUEZ

JCR Affirmed BBB+/Stable Long-term Issuer Rating, BBB+ and J-2 Rating on Mitsubishi Materials

JCR Affirmed A-/Stable, Pre. A- and J-1 Rating on Orient Corporation

Jan. 25, 2013

[ Asset Securitization Products ]JCR Assigned J-1+ to MSNW Trust Certificate Series 13010

[ Asset Securitization Products ] JCR Assigned J-1+ and J-2 to C Corporation Bills Receivable ABL13-01

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

Jan. 24, 2013

JCR Affirmed A+/Stable Long-term Issuer Rating on Kyoritsu Women's Educational Institution

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

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

Jan. 23, 2013

[ Asset Securitization Products ] JCR Assigned Pre. J-1 to Hyakugo Bank B Corporation Bills Receivable ABL13-01

[ Asset Securitization Products ] JCR Assigned Pre. J-1 to Aso Shoji Bills Receivable ABL13-01

[ Asset Securitization Products ] JCR Assigned J-3 to Monthly Clear Card Shopping Receivable ABL13-01

JCR Affirmed J-1+ Rating on CP of Toyota Motor

JCR Affirmed J-1 Rating on CP of Nippon Steel Kowa Real Estate; Increase in CP Maximum Amount

JCR Downgraded Long-term Issuer Rating on Telefonica from A/Negative to A-/Negative

JCR Affirmed BBB/Stable Long-term Issuer Rating on Pacific Industrial

JCR Assigned Preliminary BBB+ Rating to Shelf Registration of Toyo Tire & Rubber

Jan. 22, 2013

[ Asset Securitization Products ]JCR Affirmed AAA & BBB- on Toyonosato Senior Beneficial Interest, other Beneficial Interest and ABL

[ Asset Securitization Products ] JCR Assigned J-3 to Narasaki Stax Accounts Receivable ABL13-01

[ Asset Securitization Products ]JCR Assigned J-1 to Medical Fees Receivable ABL13-01 (Asahikawa Sanai HP)

JCR Affirmed A+ Ratings on Hana Bank

JCR Affirmed A-/Stable Long-term Issuer Rating on Riso Kagaku

Jan. 21, 2013

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL13-01 (C Hospital)

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL13-01 (F Hospital)

[ Asset Securitization Products ]JCR Assigned Preliminary J-1+ to MSNW Trust Certificate Series 13010

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

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

JCR Affirmed AA+p/Stable Long-term Issuer Rating on Mitsubishi Estate

JCR Upgraded Rating on Tokyu Corp. from A+/Stable to AA-/Stable

JCR Affirmed A-/Stable Long-term Issuer Rating, A-, Preliminary A- and J-1 Rating on Sumitomo Osaka Cement

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

JCR Affirmed J-1 Rating on CP of T&D Lease

Jan. 18, 2013

JCR Assigned AAA Rating to Bonds of Aichi Prefecture

JCR Affirmed AAA/Stable and AAA Rating on LBBW

JCR Assigned AA Rating to Bonds of Keio Corporation

JCR Assigned AA- Rating to Bonds of Mizuho Corporate Bank

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

JCR Assigned BBB+ Rating to Bonds of Kintetsu Corporation

Jan. 17, 2013

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL13-01 (D Hospital)

JCR Affirmed BBB/Stable Long-term Issuer Rating on Shinnihon Corporation

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

JCR Affirmed J-2 Rating on CP of Sumitomo Light Metal Industries

JCR Assigned AAA Rating to Bonds of DBJ

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

JCR Affirmed BBB+/Stable Rating on OKAYA & CO.

Jan. 16, 2013

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL13-01 (E Hospital)

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL Program (O Hospital)

JCR Assigned A+ Rating to Bonds of Daibiru

JCR Affirmed A- Long-term Issuer Rating on Japan Rental Housing Investments; Revised Outlook from Stable to Positive

JCR Affirmed AA/Stable Rating on Toyo University

Jan. 15, 2013

JCR Affirmed A-/Stable and J-1 on Japan Pulp and Paper

JCR Assigned BBB+/Stable Long-term Issuer Rating to Kanagawa Chuo Kotsu

JCR Downgraded Long-term Issuer Rating on Square Enix Holdings from A/Stable to A-/ Stable

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

Jan. 11, 2013

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL13-01 (B Hospital)

JCR Affirmed BBB/Stable Long-term Issuer Rating on Soken Chemical & Engineering

JCR Affirmed BBB+/Stable Long-term Issuer Rating on Asahi Fire & Marine Insurance

JCR Affirmed A/Stable and A Rating on SCSK Corporation

JCR Affirmed A/Stable and J-1 on Dowa Holdings

JCR Assigned AA- Rating to Subordinated Bonds of SMBC

JCR Assigned AA- Rating to Bonds of Odakyu Electric Railway

JCR Withdraws J-2 Rating on CP of Nippon Light Metal

Jan. 10, 2013

JCR Affirmed AAp/Stable Rating on Japan Earthquake Reinsurance

JCR Assigned A- Rating to Bonds of Tobu Railway

JCR Assigned AA-/Stable Long-term Issuer Rating to Nippon Prologis REIT

Jan. 07, 2013

JCR Assigned A+/Stable Long-term Issuer Rating to Comforia Residential REIT

Jan. 04, 2013

JCR Affirmed A-/Stable Rating on IT Holdings
JCR Affirmed A-/Stable Rating on TIS
JCR Affirmed A-/Stable Rating on INTEC

JCR Upgraded Rating on Tobu Railway from BBB+ and Preliminary BBB+ to A- and Preliminary A-

Dec. 28, 2012

[ Asset Securitization Products ] JCR Assigned J-1 to Nohara Bills Receivable ABL12-12

[ Asset Securitization Products ] JCR Assigned J-1+ to Teral Bills Receivable ABL12-12

[ Asset Securitization Products ] JCR Assigned J-1 to Hayakawa Rubber Bills Receivable ABL12-12

[ Asset Securitization Products ] JCR Assigned J-1 to Molten Bills Receivable ABL12-12

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

JCR Affirmed A- and J-1 on Nipro; Revised Outlook to Negative

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

JCR Affirmed A+/Stable and A+ Rating on Daicel

JCR Downgraded Long-term Issuer Rating on Krosaki Harima from A/Stable to A-/Stable

JCR Assigned Preliminary AA- Rating to Shelf Registration of Ricoh Leasing

Dec. 27, 2012

[ Asset Securitization Products ] JCR Assigned J-1 to Aso Shoji Bills Receivable ABL12-12

JCR Affirmed A- Rating on Nippon Thompson; Revised Outlook to Negative