News Release

Sep. 25, 2013

[ Asset Securitization Products ] JCR Assigned J-1 to Kimura Bills Receivable ABL13-09

[ Asset Securitization Products ]JCR Assigned J-1+ to MSNW Trust Certificate Series 13090

[ Asset Securitization Products ] JCR Assigned J-1+ and J-2 to C Corporation Bills Receivable ABL13-09

[ Asset Securitization Products ] JCR Assigned J-1 to Hyakugo Bank B Corporation Bills Receivable ABL13-09

JCR's Opinion on Tokyo Electron's Merger with Applied Materials

Sep. 24, 2013

[ Asset Securitization Products ] JCR Assigned J-3 to Monthly Clear Card Shopping Receivable ABL 13-09

JCR Affirmed AA-/Stable, AA-, Pre. AA- and J-1+ Rating on Ricoh Leasing

JCR Affirmed A+/Stable and J-1 on Cedyna Financial Corp.

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

JCR Affirmed J-2 Rating on CP of Tsubakimoto Kogyo

JCR Assigned Preliminary AA- Rating to Shelf Reg. of Global One Real Estate Investment Corporation

Sep. 20, 2013

JCR Assigned Preliminary A Rating to Shelf Registration of IBJ Leasing

Sep. 19, 2013

[ Asset Securitization Products ] JCR Assigned Pre. J-1 to Aso Shoji Bills Receivable ABL13-09

[ Asset Securitization Products ]JCR Assigned Preliminary J-1+ to MSNW Trust Certificate Series 13090

[ Asset Securitization Products ] JCR Assigned Pre. J-1 to Hyakugo Bank B Corporation Bills Receivable ABL13-09

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

[ Asset Securitization Products ] JCR Assigned J-3 to Narasaki Stax Accounts Receivable ABL13-09

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

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

JCR Affirmed BBB+ (FC/LC) Ratings on Russia

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

Sep. 18, 2013

Series 76

Series 62

Series 71

Series 74

Series 61

JCR Affirmed J-1+ Rating on ABCP Program of Godo Kaisha Alimone

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL13-09 (F Hospital)

JCR Affirmed J-1+ Rating on ABCP Program of Godo Kaisha GK 48

JCR Affirmed J-1+ Rating on ABCP Program of Vector Asset Funding Corporation

JCR Affirmed J-1+ Rating on ABCP Program of Nexus Asset Funding Corporation

JCR Downgraded Long-term Issuer Rating on Gunze from A+/Negative to A/Stable

JCR Assigned BBB+ Rating to Bonds of PGM Holdings

JCR Assigned Pre. A- to Shelf Reg. of Showa Denko; Affirmed A-/Stable, A- and J-1; Increase in CP Maximum Amount
JCR Affirmed BBB on SD Preferred Capital

JCR's Opinion on Sharp's Capital Increase through Public Offering and Third-Party Allotment

JCR Affirmed J-2 Rating on CP of Shoko

Sep. 17, 2013

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL13-09 (D Hospital)

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

JCR affirmed AAA ratings on United Kingdom

JCR Affirmed A+/Stable, A+, Preliminary A+ and J-1 on JX Holdings

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

JCR Assigned A- Rating to Euroyen Bonds of Nagoya Railroad

Sep. 13, 2013

JCR Assigned A/Stable Long-term Issuer Rating to Japan Hotel REIT Investment Corporation

JCR Affirmed AA+/Stable Rating on Province of Quebec

JCR Affirmed AA/Stable Long-term Issuer Rating and AA and AA- Ratings on EMTN for Mitsubishi UFJ Securities Holdings
JCR Affirmed AA/Stable Long-term Issuer Rating on Mitsubishi UFJ Morgan Stanley Securities

JCR Affirmed AA/Stable Long-term Issuer Rating on SMBC Nikko Securities

JCR Affirmed AA- and J-1+ on Mizuho Securities; Revised Outlook to Positive
JCR Affirmed AA- Rating on EMTN of Mizuho International
JCR Affirmed AA- Rating on EMTN of Mizuho Securities USA

JCR's Rating Review of Major Banks

Sep. 12, 2013

JCR Affirmed BBB-/Stable Long-term Issuer Rating and J-2 Rating on Furukawa Co., Ltd.

JCR Withdraws D Rating on Bonds of AvanStrate

JCR Affirmed BBB/Stable Long-term Issuer Rating on Sankei Shimbun

JCR Assigned AAA Rating to Bonds of Aichi Prefecture

Sep. 11, 2013

JCR Affirmed A/Stable Long-term Issuer Rating and A- Rating on Sub.Bonds of Hyakujushi Bank

JCR Affirmed BBB/Stable Long-term Issuer Rating, BBB and J-2 Rating on Zensho Holdings

JCR Affirmed AA- Long-term Issuer Rating on United Urban Investment Corporation; Revised Outlook from Stable to Positive

JCR Affirmed BBB+/Stable, BBB+, BBB-, Pre. BBB+ and J-2 Rating on Tokyo Tatemono

JCR Affirmed BBB- and J-2 on Tokyo Dome Corporation; Revised Outlook to Stable

Sep. 09, 2013

JCR Affirmed A/Stable Long-term Issuer Rating, A and Preliminary A Rating on Kawasaki Heavy Industries

JCR Affirmed BBB-/Stable Long-term Issuer Rating on Ishihara Sangyo

JCR Affirmed A+/Stable, Pre. A+ and J-1 on Shimadzu Corp.

JCR's Opinion on Suntory Beverage & Food's M&A for Beverage Business

JCR Affirmed A+ Rating on EMTN of Century Tokyo Leasing; Increase in Maximum Amount of Program

JCR Affirmed AA Rating on EMTN of Bank of Tokyo-Mitsubishi UFJ

Sep. 06, 2013

JCR Assigned A+ Rating to Bonds of Nippon Yusen

JCR Assigned AA- Rating to Bonds of Hitachi Capital

JCR Assigned AA- Rating to Bonds of Kyushu Electric Power

JCR Withdraws AA-/Stable, AA-, Preliminary AA- and J-1+ on Toyota Tsusho

JCR Assigned A+ Rating to Bonds of Daicel

JCR Affirmed BBB-/Stable Long-term Issuer Rating on Jimoto Holdings
JCR Affirmed BBB-/Stable Long-term Issuer Rating on Kirayaka Bank
JCR Affirmed BBB-/Stable Long-term Issuer Rating on Sendai Bank

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

JCR Affirmed A/Stable Long-term Issuer Rating on Kato Sangyo

Sep. 05, 2013

[ Asset Securitization Products ] JCR Assigned J-1+ to D Corporation Bills Receivable ABL13-09

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

JCR Affirmed BBB+/Stable, BBB+ and Pre. BBB+ Rating on Heiwa Real Estate

JCR Assigned A+ Rating to Bonds of Kenedix Realty Investment

JCR Downgraded Rating on Nissen Holdings from BBB-/Stable to BB+/Stable

JCR Affirmed BBB/Stable Rating on Scroll Corporation

JCR Assigned AA Rating to Bonds of Urban Renaissance Agency

JCR Assigned AAA Rating to Bonds of Aichi Prefecture

JCR Assigned AA Rating to Bonds of New Kansai International Airport

JCR Affirmed A/Stable Long-term Issuer Rating on Yodogawa Christian Hospital

Sep. 04, 2013

JCR Assigned A+ Rating to Bonds of Marubeni

JCR Affirmed AA-/Stable Long-term Issuer Rating, AA- and Preliminary AA- Rating on Global One Real Estate Investment

JCR Assigned A+ Rating to Bonds of NGK Spark Plug

JCR Withdraws J-2 Rating on CP of Inageya

Sep. 03, 2013

JCR Affirmed BB+/Stable Rating on IKAI

JCR Affirmed BBB/Stable Rating on Daiki Aluminium Industry

JCR Assigned BBB+/Stable Long-term Issuer Rating to BEST BRIDAL

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

Sep. 02, 2013

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

JCR Affirmed AA-/Stable Rating on Daishi Bank

JCR Affirmed A/Stable and A- Rating on Taiko Bank

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

Aug. 30, 2013

[ Asset Securitization Products ] JCR Assigned J-1 to Nohara Bills Receivable ABL13-08

[ Asset Securitization Products ] JCR Assigned J-1+ to Teral Bills Receivable ABL13-08

[ Asset Securitization Products ] JCR Affirmed J-1 on Ferry Road ETC Card Receivable ABL Program

[ Asset Securitization Products ] JCR Assigned J-1 to Molten Bills Receivable ABL13-08

JCR Assigned AA- Rating to Bonds of ITOCHU

JCR Affirmed AA and J-1+ Rating on EMTN of Sumitomo Mitsui Banking
JCR Affirmed AA and J-1+ Rating on EMTN of SMBC Capital Markets

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