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Feb. 18, 2025: JCR Affirmed A- and J-1 on MEIDENSHA; Revised Outlook to Positive; JCR Affirmed A-/Stable Long-term Issuer Rating on Kita-Nippon Bank; JCR Affirmed A+/Stable and J-1 on Sumitomo Bakelite; JCR Affirmed AA-/Stable Long-term Issuer Rating on SOSiLA Logistics REIT; JCR Assigned AA- to Zafferano Limited Series 2025-2; [ Asset Securitization Products ] JCR Affirmed J-1+ on ABCP Programs of Super Trust 1 through 20, LLCs; [ Asset Securitization Products ] JCR Affirmed J-1+ on 3rd Trust Beneficial Interest; [ Asset Securitization Products ] JCR Affirmed J-1 on Medical Treatment Fees Receivable ABL Program (R Hospital)

Feb. 17, 2025: JCR Affirmed A Long-term Issuer Rating on OKAZAKI SHINKIN BANK; Revised Outlook to Stable; JCR Affirmed AA-/Stable Long-term Issuer Rating on DHLCF GK; JCR Affirmed A-/Stable Long-term Issuer Rating on Yasuda Logistics; JCR Affirmed A-/Stable Long-term Issuer Rating on Nippon Paper Industries; C.E.Management Integrated Laboratory, The Hachijuni Bank: Second Opinion on Positive Impact Finance; AlbaLink, The Hokuriku Bank: Second Opinion on Positive Impact Finance

Feb. 14, 2025: JCR Upgraded Long-term Issuer Rating on Daiwa Securities Living Investment Corporation to AA/Stable; Affirmed J-1+ on CP; JCR Affirmed A+/Stable Long-term Issuer Rating on Kyoritsu Women's Educational Institution; JCR Affirmed AA-/Stable Long-term Issuer Rating on Awa Bank; JCR Affirmed A-/Stable Long-term Issuer Rating on SAIKYO BANK; JCR Assigned AA Rating to Bonds of Nomura Real Estate Master Fund; JCR Assigned AA- to SPIRE SA Series 2025-136; kobayashilease, The Yamanashi Chuo Bank: Second Opinion on Positive Impact Finance

Feb. 13, 2025: TOKAI CARBON Recorded Net Loss for FY2024—No Immediate Impact on Rating, and JCR Will Pay Attention to Progress of Structural Reforms and Pace of Earnings Recovery; JCR Affirmed AA+/Stable Long-term Issuer Rating on FAST RETAILING; JCR Affirmed AA/Stable Long-term Issuer Rating on Nomura Real Estate Private REIT; JCR Affirmed AA/Stable Long-term Issuer Rating on Nomura Real Estate Master Fund; JCR Assigned Preliminary A- Rating to Subordinated Bonds of of SBI SECURITIES; [ Asset Securitization Products ] JCR Assigned Preliminary A to Beneficial Interest (202502); Mizuho Bank: Second Party Opinion on Impact Finance by supporting Visualization of GHG emissions

Feb. 12, 2025: JCR Assigned A+/Stable Long-term Issuer Rating to Ocean Network Express; JCR Affirmed A/Stable Long-term Issuer Rating on Senshu Ikeda Bank; Shibusawa Logistics: Second Party Opinion on Sustainability Linked Finance Framework; SMEs, The Chiba Kogyo Bank: Second Party Opinion on Sustainability Linked Loan Framework

Feb. 10, 2025: Mitsubishi Chemical Group Will Sell Mitsubishi Tanabe Pharma - Limited Impact on the Rating; Nippon Sheet Glass Revises Full-year Earnings Forecast for FY2025 - No Immediate Impact on the Rating, Future Profit and Financial Recovery to Be Closely Watched; JCR Assigned BBB+/Stable Long-term Issuer Rating to GENDA; JCR Affirmed AAA/Stable Long-term Issuer Rating on Japan Finance Corporation; JCR Assigned AA- Rating to SPIRE SA Series 2025-167

Feb. 07, 2025: Meiji Yasuda Life Acquires Midsize U.S. Life Insurer—No Impact on Rating; Revisions of Rating Methodologies by Sector "Leasing" and "General Construction"; JCR Solicits Public Comments on Revisions to Rating Methodology by Sector "Securities"; JCR Solicits Public Comments on Revisions to Rating Methodology for a Holding Company; JCR Affirmed A+/Stable and J-1 on Sumitomo Rubber Industries; JCR Affirmed BBB+/Stable Long-term Issuer Rating on RETAIL PARTNERS; JCR Affirmed A+/Stable Long-term Issuer Rating on OITA BANK; JCR Affirmed A+/Stable FC Long-term Issuer Rating on Malayan Banking; JCR Assigned AA Rating to Bonds of Sekisui House; JCR Assigned A- Rating to Bonds of Chuo-Nittochi Group; JCR Assigned AA Rating to Bonds of Tohoku Electric Power; JCR Assigned Preliminary A- Rating to Subordinated Bonds of Tokyu Fudosan HD; JCR Assigned AA- Rating to Bonds of Sumitomo Mitsui Auto Service; [ Asset Securitization Products ] JCR Assigned Preliminary A to US real estate secured loan securitization 2025; JCR Assigned AA to SPIRE SA Series 2025-08; Joint Green Bond issuers (Local Governments): Assigned Green 1(Preliminary) to Joint Local Government Green Bond 4th; IKESHOU, The Juhachi-Shinwa Bank: Second Opinion on Positive Impact Finance

Feb. 06, 2025: JCR Affirmed A- Long-term Issuer Rating on Nojima; Revised Outlook to Positive; JCR Affirmed BBB+/Stable Long-term Issuer Rating on IDOM; JCR Affirmed AA/Stable Long-term Issuer Rating on ORIX; JCR Affirmed AAA/Stable (FC/LC) on Singapore; JCR Assigned AAA Rating to Bonds of Metropolitan Expressway; JCR Assigned AAA Rating to Bonds of Hanshin Expressway; JCR Assigned AA- to Sumitomo Mitsui Trust Bank Trust ABL/Trust Bond/Beneficial Interest Programs; Affirmed AA- on Sumitomo Mitsui Trust Bank Trust ABL Program; Results of Review of Structured Finance Products (Excluding Those to Which Credit Ratings Are Assigned) January 2025; MITSUI−SOKO HOLDINGS: Assigned Green Finance Framework Evaluation: Green 1(F); Tokyu Fudosan Holdings: Reviewed Sustainability Finance Framework Evaluation: SU 1(F)

Feb. 05, 2025: JCR Upgraded Long-term Issuer Rating on Portuguese Republic to A+/Stable (FC/LC); JCR Assigned BBB+ Rating to Subordinated Loan of ZENKOKU HOSHO

Feb. 04, 2025: JCR Affirmed BBB Long-term Issuer Rating on YOROZU; Revised Outlook to Negative; JCR Affirmed AA/Stable Long-term Issuer Rating on Fukoku Mutual Life Insurance and Fukokushinrai Life Insurance; JCR Affirmed AA+/Stable Long-term Issuer Rating on Japan Real Estate Investment Corporation; JCR Affirmed A+/Stable Long-term Issuer Rating on Star Asia Investment Corporation; JCR Assigned AAA Rating to Bonds of NTT TC Leasing

Feb. 03, 2025: JCR Placed Rating on Sanyo Special Steel under Credit Monitor #A+/Positive and #J-1/ Positive; JCR Assigned A+/Stable Long-term Issuer Rating to KYOTO CHUO SHINKIN BANK; Revisions of Rating Methodology by Sector "Machinery"; JCR Affirmed BBB+/Stable Long-term Issuer Rating on NIPPON THOMPSON; JCR Affirmed A-/Stable Long-term Issuer Rating on Neturen; Japan Finance Corporation: Assigned Social Bond Preliminary Evaluation: Social 1

Jan. 31, 2025: JCR Assigned A/Stable Long-term Issuer Rating to NIPPON STEEL KOWA REAL ESTATE Private REIT; JCR Affirmed A+ Long-term Issuer Rating on TAKARA BIO; Revised Outlook to Negative; JCR Affirmed A+/Stable and J-1 on TAKARA HD; JCR Affirmed AA/Stable and J-1+ on Sekisui House; JCR Affirmed A-/Stable Long-term Issuer Rating on Mitsuuroko Group HD; JCR Affirmed AA-/Stable and J-1+ on Fuyo General Lease
JCR Affirmed AA-/Stable and J-1+ on Sharp Finance; JCR Affirmed AAA/Stable (FC/LC) on France; JCR Affirmed AA/Stable FC Long-term Issuer Rating on Electricite de France S.A.; JCR Affirmed AA/Stable Long-term Issuer Rating on MORI TRUST REIT; JCR Withdraws BBB Long-term Issuer Rating on Harima-Kyowa; Nomura Real Estate Private REIT: Assigned Sustainability Finance Framework Evaluation: SU 1(F); Mitsubishi HC Capital Private Reit: Assigned Green Loan Framework Evaluation: Green 1(F); Mizuho Bank, Mizuho Research & Technologies: Second Party Opinion on Mizuho Eco Finance 2025 Framework (Review); Propack Holdings: Second Party Opinion on Sustainability Linked Loan; Mizuho Leasing, Mizuho Bank: Second Opinion on Positive Impact Finance; IMAI KOBE WINE CELLAR, The Shoko Chukin Bank: Second Opinion on Positive Impact Finance; Hiroshima Hino Motors, The Shoko Chukin Bank: Second Opinion on Positive Impact Finance; Teppen Dash Company, The Shoko Chukin Bank: Second Opinion on Positive Impact Finance; Maruhana, The Shoko Chukin Bank: Second Opinion on Positive Impact Finance; Koyudo, The Shoko Chukin Bank: Second Opinion on Positive Impact Finance; Nichilaymagnet, The Shoko Chukin Bank: Second Opinion on Positive Impact Finance; JECT ONE, The Nanto Bank: Second Opinion on Positive Impact Finance; IIDZKA SEISAKUSHO, The Nanto Bank: Second Opinion on Positive Impact Finance

Release Information: News Release; Issuer Reports; Reports relating to Issuer; JCR News