News Release

Dec. 04, 2013

JCR Assigned BBB+ Rating to Subordinated Bonds; Affirmed A-/Stable Long-term Issuer Rating and BBB+ Rating on Sub. Bonds of Michinoku Bank

Dec. 03, 2013

JCR Affirmed BBB+/Stable and BBB+ Rating on Makino Milling Machine

JCR Affirmed A+, Pre. A+ and J-1 Rating on Daibiru; Revised Outlook to Stable

JCR Affirmed BBB/Stable, BBB, Pre. BBB and J-2 Rating on Sojitz

JCR Affirmed BBB/Stable Long-term Issuer Rating and J-2 Rating on Shinsho Corporation

JCR Placed Rating on Nissen Holdings under Credit Monitor #BB+[Positive]

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

Dec. 02, 2013

JCR Affirmed A/Stable Long-term Issuer Rating, A, Preliminary A and J-1 Rating on Don Quijote Holdings

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

JCR Downgraded Long-term Issuer Rating on EDION Corporation from A-/Stable to BBB+/Stable

JCR Downgraded Rating on Yamada Denki from AA-/Stable to A+/Stable

JCR Assigned BBB Rating to Bonds of Kyoritsu Maintenance

JCR Downgraded Rating on Nippon Thompson from A-/Negative to BBB+/Stable

Nov. 29, 2013

[ Asset Securitization Products ] JCR Assigned J-1+ to Teral Bills Receivable ABL13-11

[ Asset Securitization Products ] JCR Assigned J-1 to Toda Kogyo Bills Receivable ABL13-11

[ Asset Securitization Products ] JCR Assigned J-1 to Nohara Bills Receivable ABL13-11

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

[ Asset Securitization Products ] JCR Assigned J-1 to Molten Bills Receivable ABL13-11

JCR Assigned A Rating to Bonds of Hiroshima Gas

JCR Affirmed AA/Stable and AA Rating on MORI TRUST Sogo Reit

JCR Affirmed BBB/Stable, BBB, Preliminary BBB and J-2 on Cosmo Oil

JCR Affirmed A-/Stable, A- and J-1 Rating on Krosaki Harima

Nov. 28, 2013

[ Asset Securitization Products ] JCR Assigned J-1 to Aso Shoji Bills Receivable ABL13-11

[ Asset Securitization Products ] JCR Assigned J-1 to Hayakawa Rubber Bills Receivable ABL13-11

JCR Assigned BBB- Rating to Subordinated Bonds of Fukushima Bank

JCR Upgraded Long-term Issuer Rating for Kiyo Bank from A-/Stable to A/Stable

JCR Affirmed AA+/Stable Long-term Issuer Rating on Shoko Chukin Bank

JCR Assigned A- Rating to Bonds of Sapporo Holdings

JCR Assigned AA Rating to Bonds of Toyota Boshoku

Nov. 27, 2013

JCR Affirmed AAA/Stable and AAA Rating on Tokyo Metro

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

Nov. 26, 2013

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

JCR Assigned Preliminary A- Rating to Bonds of Arakawa Chemical Industries; Affirmed A-/Stable and A-

JCR Affirmed A/Stable Long-term Issuer Rating, A and Preliminary A on Nippon Paper Industries

JCR Affirmed AA-/Stable Long-term Issuer Rating on Daiwa House REIT

JCR Assigned A Rating to Bonds of IBJ Leasing

Nov. 25, 2013

Trust Bonds No.72

[ Asset Securitization Products ] JCR Assigned J-1 to Hyakugo Bank B Corporation Bills Receivable ABL13-11

[ Asset Securitization Products ] JCR Assigned J-3 to Monthly Clear Card Shopping Receivable ABL 13-11

[ Asset Securitization Products ]JCR Assigned J-1+ to MSNW Trust Certificate Series 13110

[ Asset Securitization Products ] JCR Assigned J-1+ and J-2 to C Corporation Bills Receivable ABL13-11

JCR Affirmed A+/Stable and J-1 Rating on Nippon Steel & Sumikin Logistics

JCR Affirmed BBB/Stable Long-term Issuer Rating on Sogo Medical

Nov. 22, 2013

JCR Upgraded Rating on Mitsubishi Electric Credit from BBB+/Stable to A-/Stable

JCR Assigned A- Rating to JPY Bond of Renault

JCR Assigned BBB Rating to Bonds of Zensho Holdings

JCR Affirmed A Long-term Issuer Rating, A, Preliminary A and J-1 on Mitsui O.S.K. Lines; Revised Outlook from Negative to Stable

JCR Affirmed A Rating on EMTN of Mitsui O.S.K. Lines
JCR Affirmed A Rating on EMTN of Euromol

JCR Affirmed A+ Long-term Issuer Rating on Nippon Yusen Kabushiki Kaisha; Revised Outlook from Negative to Stable

JCR Assigned A+ Rating to Bonds of Marubeni

JCR Affirmed A+/Stable, A+ and J-1 on Ito En

JCR Assigned A- Rating to Bonds of Mitsui Mining & Smelting

JCR Assigned AA Rating to Bonds of Mitsubishi UFJ Trust and Banking

JCR Assigned AA- Rating to Bonds of ITOCHU

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

JCR Affirmed BBB+/Stable, BBB+, Preliminary BBB+ and J-2 on Nankai Electric Railway

JCR Affirmed AA-, AA-, Pre. AA- and J-1+ Rating on Nippon Electric Glass; Revised Outlook to Negative

JCR Assigned Preliminary A Rating to Shelf Registration of Kawasaki Heavy Industries

JCR Assigned A- Rating to Bonds of SoftBank

JCR Assigned AA- Rating to Bonds of Kyushu Electric Power

Nov. 21, 2013

[ Asset Securitization Products ] JCR Assigned Preliminary J-1 to Aso Shoji Bills Receivable ABL13-11

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

JCR Affirmed BBB/Stable and BBB- Rating on Shimane Bank

JCR's Opinion on Takashimaya's Commencement of Talks for Acquisition of Fixed Assets

JCR Affirmed BBB/Stable and BBB- on Tottori Bank

Nov. 20, 2013

[ Asset Securitization Products ] JCR Assigned Preliminary J-1 to Hyakugo Bank B Corporation Bills Receivable ABL13-11

[ Asset Securitization Products ] JCR Assigned J-3 to Narasaki Stax Accounts Receivable ABL13-11

JCR Assigned A Rating to Bonds of Japan Hotel REIT

JCR Affirmed A/Stable, A, Preliminary A and J-1 Rating on Nabtesco

Nov. 19, 2013

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL13-11 (F Hospital)

JCR Affirmed BBB-/Stable and BBB- on Daio Paper

JCR Affirmed BBB+p/Stable Long-term Issuer Rating on Nishimatsu Construction

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

JCR Affirmed AA/Stable and J-1+ Rating on Tokyo Electron

Nov. 18, 2013

Trust Bonds No.72

[ Asset Securitization Products ]JCR Assigned Preliminary J-1+ to MSNW Trust Certificate Series 13110

JCR Affirmed BBB/Stable, BB+ and BB+ Rating on Nippon Light Metal Holdings

JCR Assigned AA- (FC) Long-Term Issuer Rating to POSCO

JCR Affirmed A-/Stable Long-term Issuer Rating, A-, Preliminary A- and J-1 Ratings on Keihan Electric Railway

Nov. 15, 2013

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL13-11(D Hospital)

JCR Assigned AAA Rating to Bonds of NTT DOCOMO

JCR Affirmed A/Stable, A- and Preliminary A on Nishi-Nippon City Bank

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

JCR Assigned AAA Rating to Bonds of Aichi Prefecture

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

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

JCR Affirmed BBB/Stable and BBB- on Fukushima Bank

JCR Affirmed BBB/Stable and BBB- on Daito Bank

JCR Affirmed A/Stable Long-term Issuer Rating on Nissan Chemical Industries

JCR Affirmed A/Stable, A- and Preliminary A on Toho Bank

Nov. 14, 2013

JCR Assigned Preliminary A Rating to Kurimoto Mega Solar Project Bond Trust 1 Beneficial Interest and Trust ABL

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

JCR Affirmed A-/Stable Long-term Issuer Rating on Heiwa Real Estate REIT

JCR Affirmed A+/Stable and A+ Rating on Mitsubishi Plastics

JCR Affirmed A+/Stable and A+ Rating on Mitsubishi Chemical Corporation

JCR Affirmed A+/Stable, A+ and Pre. A+ Rating on Mitsubishi Chemical Holdings

JCR Affirmed A+/Stable and A+ Rating on Mitsubishi Rayon

Nov. 13, 2013

JCR Affirmed A/Stable and A Rating on Daiichikosho

JCR Affirmed A-/Stable Long-term Issuer Rating and A- Rating on Bonds of Morinaga

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