News Release

Mar. 25, 2009: Affirms AA/AA (FC/LC) Ratings on Slovenia; Outlook Stable; Assigned A/Stable to senior debts of J. F. Oberlin University and Affiliated Schools

Mar. 24, 2009: Assigned J-1 to Fuji Shokai Bills Receivable ABL09-03; Affirmed BBB-/Stable on Kanematsu Corp.; Assigned J-2

Mar. 23, 2009: Assigned J-1 to healthcare fees ABL09-03 (Asahikawa Sanai HP); Assigned J-1 to Hayakawa Rubber Bills Receivable ABL09-03; Downgrades Ratings of Russian Federation to BBB+/A- (FC/LC); Outlook Negative; Affirmed A/Stable and J-1 on Mitsumi Electric

Mar. 19, 2009: Assigned J-1 to healthcare fees receivable ABL09-03 (C Hospital); Affirmed BBB+/Stable on senior debts of IDEC; Assigned preliminary A rating to shelf of Jupiter Telecommunications; Affirms AAA Ratings on Belgium; Upgraded Ohsho Food Service rating to BBB+; Outlook remains Stable; Assigned preliminary A- to shelf registration of Kintetsu; Upgraded rating for Shinki to BBB+; Removed from CM; Upgraded Century Leasing System to A; Removed from Credit Monitor : Assigned A and J-1 rating anew to Century Tokyo Leasing; Outlook Stable; Upgraded Century Leasing System to A; Removed from Credit Monitor : Assigned A and J-1 rating anew to Century Tokyo Leasing; Outlook Stable; Upgraded Century Leasing System to A; Removed from Credit Monitor : Assigned A and J-1 rating anew to Century Tokyo Leasing; Outlook Stable

Mar. 18, 2009: Assigned J-1 to dispensing fees ABL09-03 (sun-kur Corporation); Assigned J-1 to healthcare fees ABL09-03 (F Hospital); Affirmed AA-/Stable on sr.debts of Gunma Bank; Downgraded Mitsui Mining & Smelting rating to #A-/Negative

Mar. 17, 2009: Assigned J-1 to healthcare fees receivable ABL09-03 (Shuyukai); Assigned J-1 to Kurashiki Medical Center Trust Certificates 09-03; Assigned J-1 to healthcare fees ABL09-03 (E Hospital); Affirmed A+ on Oita Bank; Revised outlook to Negative

Mar. 16, 2009: Assigned J-1 to healthcare fees receivable ABL09-03 (A Hospital); Assigned J-1 to healthcare fees receivable ABL09-03 (Kyowakai); Withdrawn #J-2/Developing rating on CP program of Joint Corporation; Downgraded Joint Corporation rating to #BBB-/Negative; CM Remains; Affirmed A/Stable and J-1 on senior debts and CP of Uny; Withdrawn A+/Stable rating on sr.debts of Katokichi

Mar. 13, 2009: Assigned J-1+ to Takeda Gen. Hospital Trust Certificates 09-03; JCR Affirmed A- on Hokuhoku Financial Group; Outlook remains Positive
JCR Affirmed A- on Hopkuriku Bank; Outlook remains Positive
JCR Affirmed A- on Hokkaido Bank; Outlook remains Positive; Assigned AAA to bonds of Aichi Prefecture; Affirmed A on Hamamatsu Photonics; Revised outlook to Stable; Placed rating on Minami-Nippon Bank under Credit Monitor Negative; Withdrawn BB+/Negative rating on Japan Asia Investment; Affirmed A and A- rating on Shimizu Bank; Outlook remains Negative; JCR Placed ratings on Kansai Urban Bank under CM
JCR Placed ratings on Biwako Bank under CM

Mar. 12, 2009: Assigned preliminary J-1 to A&D Bills Receivable Trust Certificates; Affirmed A+ and A on Musashino Bank; Revised outlook to Negative; Affirmed BBB+/Stable on senior debts of Nagano Bank

Mar. 11, 2009: Assigned J-1 to healthcare fees receivable ABL09-03 (B Hospital); Affirmed AA rating on Nitto Denko; Revised outlook to Negative

Mar. 10, 2009: Assigned BBB+ to shelf of Mitsui Engineering & Shipbuilding; Affirmed BBB+ for Valor; outlook remains Positive; Assigned A+ rating to sub.bonds of Mizuho Trust & Banking; Assigned A rating with Stable outlook to Jupiter Telecommunications; Downgraded Pacific HLD ratings to D; Affirmed BB+ on Tohoku Misawa Homes; Revised outlook to Negative

Mar. 09, 2009: Assigned J-1 to Nohara Bills Receivable ABL09-03; Assigned preliminary A to shelf; Affirmed J-1 on Kawasaki Kisen; Affirmed A- on Sanyo Special Steel; Revised outlook to Stable; Affirmed BBB/Stable on sr.debts of Sanyo Electric Railway

Mar. 06, 2009: Assigned AAA to bonds of NTT DoCoMo; Withdrawn A+ and J-1 on Yamaha Motor; Withdrawn BBB-/Stable on sr.debts of Nichiwa Sangyo; JCR Downgraded EMTN of ORIX to A+
JCR Downgraded EMTN of ORIX AUSTRALIA (SECURITIES) to A+
JCR Downgraded EMTN of ORIX (CARIBBEAN) to A+
JCR Downgraded EMTN of ORIX USA to A+; Downgraded Orix rating to A+ and J-1; Revised outlook to Negative; Affirmed A for Ogaki Kyoritsu Bank; Revised outlook to Stable; Downgraded Orix Life Insurance Rating to A; Revised outlook to Negative; Revises Rating Outlook of Hyundai Capital Services to Negative

Mar. 05, 2009: Affirmed A- on Okuma Corp.; Revised outlook to Negative; Affirmed BBB-/Stable rating on Harima-Kyowa; Downgraded Dainippon Screen Mfg. rating to BBB; Removed CM; Assigned AA- to bonds of Toyota Tsusho

Mar. 04, 2009: Affirmed BBB on Hosokawa Micron; Revised outlook to Negative; Revises Rating Outlook of Philippines (Republic of, The) to Stable; JCR Affirmed A/Stable and J-1 on Fukuoka Financial Group
JCR Affirmed A+/Stable on senior debts of Bank of Fukuoka
JCR Affirmed A/Stable and A- on Kumamoto Family Bank
JCR Affirmed A/Stable on Shinwa Bank; Assigned AAA to bonds of Electric Power Development; Affirmed J-1+ on CP of Nippon Telegraph and Telephone West; Affirmed J-1+ on CP of Nippon Telegraph and Telephone East; Affirmed AAA/Stable on senior debts of NTT DoCoMo; Affirmed AA+p/Stable on senior debts of Mitsubishi Estate; Affirmed AA-/Stable and J-1 on Mitsui Fudosan; Assigned AA+ to bonds of NTT Data; Affirmed A/Stable and J-1 on sr.debts and CP of Sumitomo Realty & Development; Affirmed A-/Stable, A- and J-1 on Tokyu Land

Mar. 03, 2009: Affirmed BBB+/Stable on sr.debts of Settsu Suito Shinkin Bank

Mar. 02, 2009: Affirmed J-1 on CP of MMC Diamond Finance; Affirmed A-/Stable and J-1 on Nisshin Oillio Group; Withdrawn preliminary BB rating on shelf reg. of Takara Leben; Affirmed BBB+/Stable on Sagami Railway

Feb. 27, 2009: Assigned J-1 to Toda Kogyo Bills Receivable ABL09-02; Assigned J-1+ to Teral Bills Receivable ABL09-02; Assigned J-1 to Molten Bills Receivable ABL09-02; Withdraws BBB/Stable rating on sr.debts of Sugimoto & Co.; Downgraded Nissan Financial Services to A; Revised outlook to Negative; Downgrades Ratings on Renault to A- from A; Outlook Negative; Affirmed A/Stable and J-1 on Takashimaya; Assigned preliminary AA- to shelf registration of Daibiru; Revises Rating Outlook of Industrial Bank of Korea to Negative; Revises Rating Outlook of Daejeon Metropolitan City to Negative; Revises Rating Outlook of Republic of Korea to Negative; Downgraded Calsonic Kansei to A-; Revised outlook to Negative; Placed Dainippon Screen Mfg. under Credit Monitor Negative #BBB+; Revises Rating Outlook of Kookmin Bank to Negative; Revises Rating Outlook of Korea Electric Power to Negative; Revises Rating Outlook of Korea Development Bank to Negative

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