News Release

Apr. 15, 2009

Assigned AAA to bonds of Kansai Electric Power

Affirmed BBB/Stable on senior debts of Daisyo

Apr. 14, 2009

Assigned preliminary AA to shelf registration of Nitto Denko

Affirmed AAp/Stable on Japan Earthquake Reinsurance

Apr. 13, 2009

Assigned J-1 to healthcare fees receivable ABL09-04 (B Hospital)

Affirmed AA-/Stable and J-1+ for Mitsubishi UFJ Lease & Finance

Affirmed J-2 on domestic CP program of Yuasa Funashoku

Apr. 10, 2009

Affirmed BBB-/Negative on Toli

Affirmed AA-/Stable on sr.debts of Maruichi Steel Tube

Affirmed BBB- on Tokyo Lithmatic; Revised outlook to Negative

Assigned A+ to bonds of Tokyu Corporation

JCR Affirmed BBB＋/A- (FC/LC) Ratings on NBH with Negative Outlook

Apr. 09, 2009

Assigned J-1 to Nohara Bills Receivable ABL09-04

Affirms A-/A (FC/LC) Ratings on Poland with Stable outlook

Affirms BBB+ Ratings (FC/LC) on Indian Railway Finance; Outlook Stable

Affirms AAA Ratings on Asian Development Bank; Outlook Stable

Assigned AA rating to bonds of Bank of Tokyo-Mitsubishi UFJ

Affirmed A-/Stable on sr.debts of Ryoden Trading

Assigned A- to bonds of Okamura Corporation

Apr. 08, 2009

Withdraws BBB/Stable rating on senior debts of Rasa Industries

Withdraws preliminary A rating on shelf of Hiroshima Gas

Removed Credit Monitor from AEON Thana Sinsap (Thailand) Public Company

Withdraws #BBB+/Developing rating on Daiwabo Information System

Affirmed BBB/Stable and J-2 on GS Yuasa

Assigned BBB/Stable to senior debts of Hochiki

Apr. 07, 2009

Removes Credit Monitor (Negative) of PTT Public Company

Removes Credit Monitor (Negative) of Kingdom of Thailand

Affirmed A-/Stable and J-1 on sr.debts and CP of Idemitsu Credit

Placed rating on Sankyo-Tateyama Holdings under Credit Monitor Negative

Removes Credit Monitor (Negative) of PTT Exploration and Production Public Company

Apr. 06, 2009

Assigned AA- to 2nd series loan A/trust certificates of HC Ayasegawa

Assigned AA- to 2nd series loan A/trust certificates of HC Ayasegawa

Affirmed BB on Tokushinkai Group; Revised outlook to Positive

Affirmed BBB-/Stable on senior debts of Nakabayashi

Affirmed BBB/Stable on sr.debts of Unimat Life

Assigned preliminary A+ rating to shelf of Nippon Paper Group

Affirmed AA- on sr.debts of Kaneka; Revised outlook to Negative

Apr. 03, 2009

Withdraws A/Stable rating on sr.debts of Sunx Limited

Affirmed A-/Stable and J-1 on Keihan Electric Railway

Affirmed A- rating on Aoki Holdings; Revised outlook to Stable

Apr. 02, 2009

JCR's Rating Review of 3 Japan Railway companies

Affirmed BBB/Stable on sr.debts of Asahi Printing

Affirmed A- on Riso Kagaku; Revised outlook to Negative

JCR Assigned AA- rating to notes of Nomura Global Funding

Apr. 01, 2009

Assigned AA- to euroyen notes of SUNTORY EUROPE

Assigned AA-/Positive, AA- and J-1+ to Suntory Holdings Limited

Assigned A+/Stable to senior debts of Meiji Holdings

JCR Withdraws AA- rating on EMTN of Suntory
JCR Withdraws AA- rating on EMTN of SUNTORY EUROPE
JCR Withdraws AA- rating on EMTN of SUNTORY CAPITAL

Withdraws AA-/Positive, preliminary AA- and J-1+ rating on Suntory

Withdraws BB+/Negative rating on Tokura Construction

Upgraded Tohcello rating to A and J-1; Removed Credit Monitor

Removed Credit Monitor and Upgraded Meiji Dairies rating to A+

Removed Credit Monitor and affirmed A+ rating on Meiji Seika

Assigned BBB/Stable to sr.debts of Vital KSK Holdings

Withdraws #BBB/Positive rating on Vital-Net

Assigned preliminary A- rating to shelf of Okamura Corporation

Assigned BBB+/Stable to Toho Holdings; Affirmed J-2 on CP

Mar. 31, 2009

Assigned J-1+ to Teral Bills Receivable ABL09-03

Assigned J-1 to Molten Bills Receivable ABL09-03

Assigned J-1+ to JUTEC Bills Receivable ABL09-03

Withdraws BBB-/Stable rating on Tekken

Withdraws BBB-/Stable rating on Janome Sewing Machine

Withdraws BBB+, BBB- and J-2 rating on Atrium

Withdraws BBB+/Stable rating on Simplex Investment Advisors

Assigned J-1+ to CP program of Keio Corporation

Downgraded Futaba Industrial ratings to BBB; Removed CM

Assigned A- and J-1 to Cedyna Financial Corporation; Outlook Stable

Mar. 30, 2009

Assigned J-1 to Toyoshima Bills Receivable ABL09-03

Assigned J-1 to Castem Bills Receivable ABL09-03

Assigned J-1 to Aso Shoji Bills Receivable ABL09-03

Assigned J-1 to Ochisangyo Bills Receivable ABL09-03 (1),(2)&(3)

Assigned J-1 to SEIBUKIZAI Bills Receivable ABL09-03

Assigned J-1 to Nippon Tungsten Bills Receivable ABL09-03

JCR Affirmed BBB/Negative and J-2 on Tokai Tokyo Financial Holdings
JCR Assigned BBB/Negative and J-2 on Tokai Tokyo Securities

Assigned preliminary AA- to shelf of Mitsui O.S.K. Lines

Affirmed BBB/Stable on senior debts of Sintokogio

Affirmed A/Stable and A on sr.debts and bonds of Kureha

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

Mar. 27, 2009

Assigned J-1 to Kimura Bills Receivable ABL09-03

Assigned J-1 to A&D Bills Receivable Trust Certificates

Affirmed BBB on WBBL secured senior loan

Assigned J-1 to Osaka Steel Tube Bills Receivable ABL09-03

Affirmed AAA/Stable on sr.debts of Kyushu University

Affirmed BBB/Stable on Nichias

Downgraded Shikoku Bank rating to A-, BBB+; Outlook remains Stable

Affirmed BBB/Stable on senior debts of Saga Kyoei Bank

Affirmed BBB/Stable on senior debts of Tokyo Derica

Mar. 26, 2009

Assigned J-1 to Bills Receivable ABL09-03 (B Corporation in Mie)

Affirmed AAA on Octave Synthetic CDO Series 3 Classes A-1/A-2/B

Assigned J-1+ to Chudai Jitugyo Bills Receivable ABL09-03

Assigned AA-/Stable and AA- to Global One Real Estate Investment

Affirmed AA/Stable on sr.debts of Kokugakuin University

Affirmed BBB-/Stable and BBB- on sr.debts and bonds of Tomy

Affirmed J-2 on CP of Furukawa Electric

Mar. 25, 2009

Assigned J-1 to Bills Receivable ABL09-03 (A Corporation in Aichi)

Assigned J-1 to CATERPILLAR Kyushu Bills ABL09-03

Assigned J-1 to Nakagawa Seitaikako Bills Receivable ABL09-03

Assigned J-1+ to MSNW Trust Certificate Series 09030

Assigned J-1 to healthcare fees ABL09-03 (Asahikawa Sanai HP)

Assigned J-1 to healthcare fees ABL09-03 (D Hospital)