News Release

May. 20, 2011

Affirmed AA-/Stable rating on senior debts of San-in Godo Bank

Affirmed A+/Stable on senior debts of Coca-Cola Central Japan

Withdraws BBB+/Stable rating on sr.debts of Tohokusoshin

Assigned AA- rating to bonds of Hitachi Capital

Affirmed BBB- rating on Towa Bank; Revised outlook to Positive

Assigned BBB+ rating to bonds of Kintetsu Corporation

May. 19, 2011

<Asset Securitization Products> Assigned J-1 to Medical Fees Receivable ABL11-05 (F Hospital)

<Asset Securitization Products> Assigned J-1 to Medical Fees Receivable ABL11-05 (I Hospital)

<Asset Securitization Products> Assigned preliminary J-1+ to MSNW Trust Certificate Series 11050

<Asset Securitization Products> Assigned J-1 to Medical Fees Receivable ABL11-05 (L Hospital)

<Asset Securitization Products> Assigned J-3 to Narasaki Stax Accounts Receivable ABL11-05

May. 18, 2011

<Asset Securitization Products> Assigned J-1 to Medical Fees Receivable ABL11-05 (E Hospital)

<Asset Securitization Products> Assigned J-1 to Medical Fees Receivable ABL11-05 (Kyowakai)

<Asset Securitization Products> Assigned J-1 to Dispensing Fees Receivable ABL11-05 (sun-kur)

Assigned AAA rating to bonds of Development Bank of Japan

Assigned AAA rating to bonds of Aichi Prefecture

May. 17, 2011

<Asset Securitization Products> Assigned J-1 to Medical Fees Receivable ABL11-05 (K Hospital)

<Asset Securitization Products> Assigned J-1 to Kurashiki Medical Center Ben. Int. 11-05

Assigned AA rating to bonds of Nippon Steel

May. 16, 2011

<Asset Securitization Products> Assigned pre. J-1+ to Bills Receivable Ben. Int. 11-05 (A Corp.)

Assigned J-2 rating to CP of Kowa Real Estate

Affirmed A-/Stable on senior debts of Nippon Tochi-Tatemono

May. 13, 2011

<Asset Securitization Products> Assigned J-1+ to Takeda Gen. Hospital Beneficial Interest 11-05

<Asset Securitization Products> Assigned J-1+ to JUTEC Bills Receivable ABL11-05

Revised Rating from #AA to #A+; Maintains CM Negative on TEPCO

Assigned pre. AA- to shelf reg. of Odakyu Electric Railway

Affirmed AA+p/Stable on senior debts of Shin-Etsu Chemical

May. 12, 2011

<Asset Securitization Products> Assigned Pre. J-1 to Kurashiki Medical Center Ben. Int. 11-05

Affirmed A/Negative and J-1 rating on J.Front Retailing

Affirmed A/Negative, A and J-1 rating on Takashimaya

Assigned preliminary A rating to shelf reg. of Sumitomo R&D

Affirmed A-/Stable and J-1 on LT/ST sr.debts of Kyoto Shinkin

May. 11, 2011

<Asset Securitization Products> Assigned J-1 to Medical Fees Receivable ABL11-05 (B Hospital)

Assigned AAA rating to bonds of Aichi Prefecture

May. 10, 2011

Affirmed BBB rating on EMTN of Tokai Tokyo Financial Holdings

May. 09, 2011

Affirmed A/Stable and A- rating on Bank of The Ryukyus

Affirmed A+/Stable rating on Bank of Okinawa

May. 06, 2011

<Asset Securitization Products> Assigned J-1 to Medical Fees Receivable ABL11-05 (D Hospital)

JCR Affirmed A+/Stable rating on Daiwa Securities Group companies; Assigned A+
JCR Affirmed A+/Stable rating on Daiwa Securities
JCR Affirmed A+/Stable rating on Daiwa Securities Capital Markets

Affirms AAA Ratings on Norway; Outlook Stable

Affirms A+/A+ (FC/LC) ratings on Slovakia with stable outlook

Affirmed BBB+/Stable on senior debts of Ohsho Food Service

May. 02, 2011

Affirmed A+/Stable and A+ on Nishi-Nippon Railroad

Apr. 28, 2011

<Asset Securitization Products>Assigned J-1+ to Teral Bills Receivable ABL11-04

<Asset Securitization Products> Revised rating on ABL of PORT SATORI, LLC from A to A+

<Asset Securitization Products> Assigned J-1 to Molten Bills Receivable ABL11-04

<Asset Securitization Products> Assigned J-1 to Nohara Bills Receivable ABL11-04

<Asset Securitization Products> Revised rating on ABL of PORT KEI, LLC from A to A+

Affirmed A/Stable, preliminary A and J-1 on Takara Standard

Affirmed AA- rating on JS Group Corp.; Revised outlook to Stable

Withdraws BBB-/Stable rating on sr.debts of Josuikai

Affirmed AAp Rating on BNP Paribas

Affirms BBB- (FC/LC) on Philippines; Revises outlook to Positive

Apr. 27, 2011

JCR Revised rating on EMTN of ITOCHU to AA-
JCR Revised rating on EMTN of ITOCHU Treasury Center Americas to AA-
JCR Revised rating on EMTN of ITOCHU Treasury Centre Europe to AA-
JCR Revised rating on EMTN of ITOCHU Treasury Centre Asia to AA-

Revised rating on ITOCHU from A+ and J-1 to AA-/Stable and J-1+

Revised rating on Marubeni Corp. from A/Stable to A+/Stable

JCR Revised rating on EMTN of Marubeni from A to A+
JCR Revised rating on EMTN of Marubeni Europe from A to A+
JCR Revised rating on EMTN of Marubeni Finance Holland from A to A+

Assigned pre. BBB+ rating to shelf of Nankai Electric Railway

Affirmed BBB/Stable rating on senior debts of Minami-Nippon Bank

Revised rating on Itochu Enex from A-/Positive to A/Stable

Affirmed AA/Stable rating on senior debts of Gunma Bank

Affirmed A+/Stable, A+ and A ratings on Hokkoku Bank

JCR Affirmed A-/Stable Rating on Sapporo Hokuyo Holdings
JCR Affirmed A-/Stable Rating on North Pacific Bank

Apr. 26, 2011

Assigned J-1 to Hyakugo Bank B Co. Bills Receivable ABL11-04

Assigned J-1+ to Bills Receivable Ben. Int. 11-04 (A Corp.)

Assigned AAA rating to bonds of JFC

Assigned Pre. AA- to shelf of Mitsubishi UFJ Lease & Finance

Affirmed A+/Stable and J-1 on senior debts and CP of TOC

Assigned preliminary BBB rating to shelf reg. of Daio Paper

Apr. 25, 2011

Assigned J-1 to dispensing fees ABL11-04 (Nanba Pharmacy)

Assigned J-1+ to MSNW Trust Certificate Series 11040

Affirmed A-/Stable, BBB+ and preliminary A- on Shikoku Bank

Affirmed A+/Stable and J-1+ on Sumitomo Mitsui Card

Affirmed AA+p/Stable rating on senior debts of Toho Gas

Affirmed AA+p/Stable rating on senior debts of Osaka Gas

Affirmed AA-/Stable, AA-, pre. AA- and J-1+ on Saibu Gas

Affirmed A/Stable, A and J-1 on Hiroshima Gas

Affirmed A/Stable, A, preliminary A and J-1 on Hokkaido Gas

Affirmed A-/Stable rating on senior debts of Chubu Gas

Apr. 22, 2011

Assigned A-/Stable rating to senior debts of TOMONY Holdings

Assigned AA- rating to sub. bonds of Mitsubishi UFJ Trust

Affirmed AA-/Stable on senior debts of Maruichi Steel Tube

Apr. 21, 2011

<Asset Securitization Products> Assigned pre.J-1 to Hyakugo Bank B Co. Bills Receivable ABL11-04

<Asset Securitization Products> Assigned J-1 to Medical Fees Receivable ABL11-04 (G Hospital)

<Asset Securitization Products> Assigned J-1 to Medical Fees Receivable ABL11-04 (J Hospital)

<Asset Securitization Products> Assigned J-1 to Medical Fees Receivable ABL11-04 (M Hospital)

<Asset Securitization Products> Assigned J-1 to Medical Fees Receivable ABL11-04 (Asahikawa Sanai HP)

<Asset Securitization Products> Assigned J-1 to Medical Fees Receivable ABL11-04 (C Hospital)

JCR Placed Ratings on Monex Group under CM #BBB/Negative
JCR Placed Ratings on Monex under CM #BBB/Negative

Affirmed AA-/Stable rating on senior debts of Kokushikan

Apr. 20, 2011

<Asset Securitization Products>Assigned J-1 to Medical Fees Receivable ABL11-04 (H Hospital)

<Asset Securitization Products> Assigned J-3 to Narasaki Stax Accounts Receivable ABL11-04

Affirmed A-/Stable, preliminary A- and J-1 on Uny

Affirmed BBB/Stable and J-2 rating on UCS

Affirmed AA+/Stable, AA+, pre. AA+ and J-1+ on NTT Finance

Affirmed A/Stable, A, pre. A and J-1 on Taiyo Nippon Sanso

Apr. 19, 2011

<Asset Securitization Products> Assigned J-1 to Medical Fees Receivable ABL11-04 (I Hospital)

<Asset Securitization Products> Assigned preliminary J-1+ to MSNW Trust Certificate Series 11040

<Asset Securitization Products> Assigned J-1 to Medical Fees Receivable ABL11-04 (F Hospital)

<Asset Securitization Products>Assigned J-1 to Medical Fees Receivable ABL11-04 (L Hospital)