News Release

Nov. 12, 2013

JCR Affirmed AA-/Stable Long-term Issuer Rating and AA- Rating on Bonds of Daiwa House Residential Investment Corporation

JCR Affirmed A/Stable Long-term Issuer Rating of Ezaki Glico

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

JCR Affirmed AA-/Stable, AA-, Preliminary AA- and J-1+ on Sumitomo Mitsui Finance & Leasing

JCR Affirmed A+/Stable and J-1 on MG Leasing Corporation

Nov. 11, 2013

JCR Assigned AAA Ratings to AfDB’s Notes

JCR Affirmed A+/Stable Long-term Issuer Rating on Nippon Steel & Sumikin Engineering

JCR Affirmed BBB/Stable Long-term Issuer Rating on Toyo Logistics

Nov. 08, 2013

JCR Affirmed AA- Rating on Specified Bonds of Nissay 2009 Fund SPC

JCR Affirmed AA- Rating on Specified Bonds of Nissay 2012 Fund SPC

JCR Upgraded Rating on Specified Bonds of Sumitomo Life Fund Sec. SPC III from A- to A
JCR Upgraded Rating on Specified Bonds of Sumitomo Life Fund Sec. SPC IV from A- to A
JCR Upgraded Rating on Specified Bonds of Sumitomo Life Fund Sec. SPC V from A- to A

JCR Affirmed AA- Rating on Specified Bonds of Nissay 2011 Fund SPC

JCR Affirmed A Rating on Specified Bonds of Meiji Yasuda Life 2011 Fund SPC
JCR Affirmed A Rating on Specified Bonds of Meiji Yasuda Life 2012 Fund SPC
JCR Affirmed A Rating on Specified Bonds of Meiji Yasuda Life 2013 Fund SPC

JCR Affirmed AA- Rating on Specified Bonds of Nissay 2010 Fund SPC

JCR Assigned A Ratings to JPY Bonds of Poland

JCR Affirmed A+/Stable and Preliminary A+ on NSK

JCR Affirmed J-2 Rating on CP of Kokusai Pulp & Paper

JCR Assigned AA Rating to Bonds of Urban Renaissance Agency

JCR Assigned AA- to Bonds of ADR; Affirmed AA-; Revised Outlook to Positive

JCR Affirmed A+/Stable and J-1 on JTEKT Corporation

Nov. 07, 2013

JCR Affirmed BBB+ Long-term Issuer Rating on Inageya; Revised Outlook to Negative

Nov. 06, 2013

JCR Assigned AAA Rating to Bonds of DBJ

JCR Affirmed A/Stable Long-term Issuer Rating and J-1 Rating on CP of BOT Lease

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

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

JCR Upgraded Rating on Sumitomo Life Insurance from A/Stable to A+/Stable

JCR Affirmed A+/Stable and J-1+ Rating on Meiji Yasuda Life Insurance

JCR Affirmed BBB+/Negative Long-term Issuer Rating on Kintetsu Corporation

JCR's Opinion on Investigation Results by Third-party Committee of Kohnan Shoji

JCR Affirmed AAp/Stable and J-1+ Rating on Nippon Life Insurance

Nov. 05, 2013

JCR Affirmed AAA on Beneficial Interest of HC Ayasegawa

JCR Affirmed AAA on ABL of HC Ayasegawa

JCR Affirmed J-2 Rating on CP of Daiho

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

JCR Affirmed A+/Stable and J-1+ Rating on Dai-ichi Life Insurance

Nov. 01, 2013

JCR Assigned AA- Rating to Bonds of Urban Investment Corporation

JCR Affirmed A/Stable and J-1 on Sharp Finance

JCR Affirmed A/Stable, A, Preliminary A and J-1 on Fuyo General Lease

JCR Affirmed A+/Stable, A+, A and Preliminary A+ on Hiroshima Bank

JCR Affirmed AA+ ratings on Hong Kong

JCR's Opinion on Zensho Holdings' Downward Revision of Earnings Forecasts

JCR Placed Ratings on Tokyo Star Bank under Credit Monitor #BBB+[Positive] and #BBB[Positive]

Oct. 31, 2013

[ Asset Securitization Products ] JCR Assigned J-1 to Nohara Bills Receivable ABL13-10

[ Asset Securitization Products ] JCR Assigned J-1+ to Teral Bills Receivable ABL13-10

[ Asset Securitization Products ] JCR Assigned J-1 to Molten Bills Receivable ABL13-10

JCR Withdraws A- FC Long-term Issuer Rating on Telefonica

JCR Affirmed BBB/Stable Long-term Issuer Rating on Bank of Kochi

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

JCR Assigned Preliminary A Rating to Shelf Registration of Nishi-Nippon City Bank

JCR's Opinion on Accordia Golf's Consideration of Materialization of Asset-light Methods

JCR Assigned Preliminary AA Rating to Shelf Registration of Sekisui House

JCR Affirmed BBBp/Stable Long-term Issuer Rating on NDS

JCR's Opinion on Kappa Create Holdings' Shareholder Change

Oct. 30, 2013

[ Asset Securitization Products ] JCR Assigned J-1 to Hayakawa Rubber Bills Receivable ABL13-10

[ Asset Securitization Products ] JCR Assigned J-1 to Aso Shoji Bills Receivable ABL13-10

JCR Assigned AA- Rating to Bonds of JCB

JCR Assigned A- Rating to Bonds of Tokyu Land Corporation

JCR Affirmed BBB-/Stable and J-2 Rating on Taiyo Oil

Oct. 29, 2013

JCR Assigned A- Rating to Bonds of Mori Building

JCR Affirmed A-/Stable Long-term Issuer Rating on Japan Vilene

JCR Affirmed A-/Stable Long-term Issuer Rating and BBB+ Rating on Subordinated Bonds for Kita-Nippon Bank

JCR Affirmed A+/Stable, A+ and J-1 Rating on AEON Financial Service

JCR Affirmed A-/Stable Long-term Issuer Rating and J-1 Rating on AEON Housing Loan Service

Oct. 28, 2013

JCR Affirmed A/Stable Long-term Issuer Rating and J-1 Rating on CP of JA Mitsui Leasing

JCR Affirmed BBB-/Stable Long-term Issuer Rating on Okaya Electric Industries

JCR Affirmed AAAp Rating on EBRD

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

JCR Affirmed BBB/Stable Long-term Issuer Rating on Kyoritsu Maintenance

JCR Affirmed A Rating on Air Water; Revised Outlook to Positive

Oct. 25, 2013

[ Asset Securitization Products ]JCR Assigned J-1+ to MSNW Trust Certificate Series 13100

[ Asset Securitization Products ]JCR Assigned J-1 to Hyakugo Bank B Corporation Bills Receivable ABL13-10

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

JCR Assigned BBB+ Rating to Bonds of Tokyo Tatemono

JCR Assigned AA+ Rating to Bonds of JASSO

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

JCR Assigned A-/Stable Long-term Issuer Rating to UKC Holdings Corporation

JCR Assigned Preliminary AAA Rating to Shelf Registration of Central Japan Railway

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

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

JCR Affirmed A+p/Stable Long-term Issuer Rating on Fukoku Mutual Life Insurance
JCR Affirmed A+/Stable Long-term Issuer Rating on Fukokushinrai Life Insurance

Concerning MTN Program of Mizuho Trust & Banking Co., Ltd.

Oct. 24, 2013

[ Asset Securitization Products ] JCR Assigned J-3 to Monthly Clear Card Shopping Receivable ABL 13-10

JCR Assigned A Rating to Bonds of Fuyo General Lease

JCR Assigned A+ Rating to Bonds of Yokohama Rubber

JCR Assigned Preliminary A Rating to Shelf Registration of Mitsui Chemicals

JCR Affirmed AA-/Stable Long-term Issuer Rating on Nomura Trust and Banking

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

JCR Affirmed A-/Stable, A- and J-1 on Konoike Transport

Oct. 23, 2013

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

[ Asset Securitization Products ] JCR Assigned Pre. J-1 to Aso Shoji Bills Receivable ABL13-10

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

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

JCR Assigned A Rating to Bonds of HORIBA

JCR Assigned A Rating to Bonds of Sumitomo Realty & Development

JCR Assigned Pre. A Rating to Shelf Reg. of Nomura Real Estate Holdings

Oct. 22, 2013

[ Asset Securitization Products ] JCR Assigned J-3 to Narasaki Stax Accounts Receivable ABL13-10

[ Asset Securitization Products ] JCR Assigned Pre. J-1 to Hyakugo Bank B Corporation Bills Receivable ABL13-10

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

JCR Assigned A- Rating to Subordinated Bonds of Bank of The Ryukyus

JCR Affirmed AA/Stable, AA and Pre. AA Rating on Asahi Kasei