News Release

Jan. 19, 2011

JCR Withdraws A+/Stable Rating on Cheung Kong (Holdings) Limited

Assigned BBB+ rating to bonds of Softbank

Affirmed BBB/Stable rating on Nihon Chouzai

Affirmed A-/Stable and J-1 rating on Mitsui Sugar

Assigned #BB+/Positive to subordinated bonds of Kirayaka Bank

Jan. 18, 2011

Assigned J-1 to Kurashiki Medical Center Beneficial Interest 11-01

Assigned J-1 to Dispensing Fees Receivable ABL11-01 (sun-kur)

Assigned J-1 to Medical Fees Receivable ABL11-01 (K Hospital)

Assigned J-1 to Medical Fees Receivable ABL11-01 (E Hospital)

Assigned J-1 to Medical Fees Receivable ABL11-01 (Kyowakai)

Affirmed A-/Stable rating on Takasago International Corporation

Jan. 17, 2011

Assigned preliminary BBB+ rating to shelf reg. of Softbank

Assigned BBB rating to subordinated bonds of Tokyo Star Bank

Assigned preliminary A rating to shelf reg. of Taisei Corporation

Affirmed A-/Stable rating on senior debts of Hokuto

Affirmed A-/Stable, preliminary A- and J-1 on Orient Corporation

Affirmed A+/Stable rating on Keiyo Bank

Affirmed AA-/Negative, pre. AA- and AA- on Mori Hills REIT Investment

Jan. 14, 2011

Assigned J-1+ to Takeda Gen. Hospital Beneficial Interest 11-01

Assigned pre. J-1+ to A&D Bills Receivable Beneficial Interest 11-01

Affirmed AA/Stable rating on senior debts of Kanagawa University

Affirmed A+p/Stable rating on senior debts of Kansai Paint

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

Assigned AA- rating to bonds of Mitsubishi UFJ Lease & Finance

Assigned AAA rating to bonds of Aichi Prefecture

Assigned AA- rating to bonds of Sumitomo Mitsui Banking

Assigned AA- rating to bonds of Mizuho Corporate Bank

Assigned AA and AA- to Bank of Tokyo-Mitsubishi UFJ

Affirms AA-p Ratings on Deutsche Bank; Outlook Stable

Assigned preliminary BBB+ to shelf reg. of Toyo Tire & Rubber

Jan. 13, 2011

Assigned pre. J-1 to Kurashiki Medical Center Beneficial Interest 11-01

Removed CM; Revised rating from #A-/Developing to AA- for Octave

Affirmed A/Stable, preliminary A and J-1 on IBJ Leasing

Assigned BBB+ and preliminary BBB+ to Tobu Railway

Jan. 12, 2011

Assigned J-1 to Medical Fees Receivable ABL11-01 (B Hospital)

Affirmed AA/Stable rating on senior debts of Toyo University

Affirmed A and J-1 on Daido Steel; Revised outlook to Stable

Affirmed J-2 rating on CP of Sumitomo Light Metal Industries

Assigned A rating to bonds of Orix Corporation

Assigned AA- rating to sr.debts of ORIX JREIT Inc.

Jan. 11, 2011

Affirmed A+/Stable rating on senior debts of DISCO Corporation

Affirmed BBB-, pre. BBB- and J-2 on Daikyo; Outlook Positive

Affirms AAA Ratings on IDB; Outlook Stable

Assigned preliminary AA- rating to bonds of Sumitomo Mitsui Finance and Leasing

Jan. 07, 2011

Assigned AA- rating to bonds of Odakyu Electric Railway

Withdraws preliminary BBB+ rating on shelf reg. of Softbank

Jan. 05, 2011

Assigned J-1 to Medical Fees Receivable ABL11-01 (D Hospital)

Affirmed AA/Stable rating on senior debts of Toho

Assigned A+/Stable; Affirmed A+/Stable and J-1+ on Kyoei Fire & Marine Insurance

Jan. 04, 2011

Assigned J-1 to Molten Bills Receivable ABL10-12

Dec. 29, 2010

Affirmed A+/Stable, A+, preliminary A+ on Daicel Chemical

Dec. 28, 2010

Assigned J-1+ to Teral Bills Receivable ABL10-12

Assigned J-1 to Nohara Bills Receivable ABL10-12

Assigned J-1+ to JUTEC Bills Receivable ABL10-12

Assigned J-1 rating to Aso Shoji Bills Receivable ABL10-12

Assigned J-1 to Hayakawa Rubber Bills Receivable ABL10-12

Affirmed BBB+/Stable rating on senior debts of Okaya & Co.

Affirmed A-/Stable, A-, pre. A- and J-1 rating on Kawasaki Kisen

Assigned preliminary AA- rating to shelf reg. of Ricoh Leasing

JCR placed Hana Bank under Credit Monitor/Negative

Affirmed BBB/Stable on senior debts of Eiken Chemical

Affirmed BBB+/Stable and J-2 on Mitsubishi Electric Credit

Dec. 27, 2010

Assigned J-1+ to MSNW Trust Certificate Series 10120

Assigned J-1+ to A&D Bills Receivable Beneficial Interest 10-12

JCR Removed CM; Affirmed AA-, A+ and A on Sumitomo Trust & Banking
JCR Removed CM; Affirmed A+ and A on STB Finance Cayman
JCR Removed CM; Affirmed A+/Stable on Sumishin Panasonic Financial Services
JCR Removed CM; Affirmed A+/Stable on Sumishin Real Estate Loan & Finance
JCR Removed CM; Revised to AA-/Stable and A+ on Chuo Mitsui Trust
JCR Removed CM; Revised to AA-/Stable on Chuo Mitsui Asset Trust

Affirmed A-/Stable rating on senior debts of Seiren

Affirmed BBB-/Stable and J-2 on Tokyo Dome

Affirmed AA/Stable and AA on Oriental Land

Affirms AAA Rating on Republic of Finland; Outlook Stable

Affirmed A+ on Sumitomo Metal Mining; Outlook Positive

Revised rating on Dowa Holdings from A- to A/Stable

Dec. 24, 2010

Assigned J-1 to Hyakugo Bank B Corporation Bills Receivable ABL10-12

Assigned J-1 to Kimura Bills Receivable ABL10-12

Maintains CM; Revised Direction from Negative to Developing #A- for Octave

Dec. 22, 2010

Assigned J-1 to Medical Fees Receivable ABL10-12 (J Hospital)

Assigned A rating to ABL of PORT SATORI, LLC

Affirmed AA+/Stable and AA+ on Japan Student Services

Removed CM; Affirmed J-2 rating on Japan Radio

Dec. 21, 2010

Assigned preliminary J-1+ to MSNW Trust Certificate Series 10120

Assigned J-3 to Monthly Clear Card Shopping Receivable ABL10-12

Assigned J-1 to dispensing fees ABL10-12 (Nanba Pharmacy)

Assigned J-1 to Medical Fees Receivable ABL10-12 (Asahikawa Sanai HP)

Assigned J-3 to Narasaki Stax Accounts Receivable ABL10-12

Assigned J-1 to Medical Fees Receivable ABL10-12 (C Hospital)

Affirmed BBB/Stable and J-2 on sr.debts and CP of Okabe

Revised ratings on Taihei Kogyo from BBB+ to A, from J-2 to J-1

JCR Affirmed BBB+/Stable and BBB rating on Shonai Bank

JCR Affirmed BBB+/Stable rating on senior debts of FIDEA Holdings

Affirmed J-1 rating on CP of Nissay Leasing

Affirmed A/Stable and J-1 on Nippon Car Solutions

JCR Affirmed BBB/Stable rating on senior debts of Hokuto Bank

Removed CM; Revised rating on Sanyo Electric to AA/Stable and J-1+

Dec. 20, 2010

Assigned J-1+ to Chudai Jitugyo Bills Receivable ABL10-12

Assigned pre.J-1 to Hyakugo Bank B Co. Bills Receivable ABL10-12

Assigned J-1 to Medical Fees Receivable ABL10-12 (G Hospital)

Assigned preliminary AA rating to shelf reg. of Keio Corporation

Affirmed BBB+/Stable, BBB and preliminary BBB+ on Daisan Bank

Affirms AAA ratings on Germany: Outlook Stable

Affirmed AA+/Stable and J-1+ on Japan Trustee Services

Affirmed AA+/Stable and J-1+ on Master Trust Bank of Japan