News Release

Feb. 12, 2009: Assigned J-1 to healthcare fees receivable ABL09-02 (B Hospital); Affirmed BBB-/Stable on Mitsubishi Paper Mills; Affirmed A- rating on Okamura Corporation; Revised outlook to Negative; Assigned preliminary A+ to shelf reg. of Nisshin Steel; JCR's Rating Review of Securities companies; Downgraded Aozora Bank rating to BBB+; Outlook remains Negative

Feb. 10, 2009: Downgraded rating on bonds of SCB Securitization to AA-; Affirmed A/Stable on sr.debts of Japan Net Bank; Placed CP rating on Osaka Securities Finance under Credit Monitor Negative

Feb. 09, 2009: Assigned J-1 to Nohara Bills Receivable ABL09-02; Assigned preliminary A+ rating to sub.bond of Mizuho Corporate Bank; Affirmed AAA/Stable on senior debts of Japan Broadcasting Corporation; Downgraded Shinkin Guarantee Fund to A+; Outlook Negative; Downgraded Shinkin Central Bank to AA+ ; Outlook Negative; Assigned preliminary AA- rating to sub.bonds of Bank of Tokyo-Mitsubishi UFJ

Feb. 06, 2009: Assigned preliminary J-1 to A&D Bills Receivable Trust Certificates; Withdraws BBB/Stable rating on Mikuni Corporation; Affirmed A-/Stable and J-1 on Toyobo; Affirmed AA-/Stable and J-1+ on Asahi Breweries; Affirmed AA/Stable on senior debts of 77 Bank; Affirmed A+ and J-1 on Aeon Credit Service; Revised outlook to Stable; Affirmed A-/Stable on senior debts of Nagoya Railroad; Upgraded Acom rating to A; Removed Credit Monitor; Assigned AA+ to bonds of Osaka (City of); Assigned AA to bonds of Kansai International Airport; Affirmed A+ on Kenedix Realty Investment; Revised outlook to Negative

Feb. 05, 2009: Affirmed AA+/Stable on sr.debts of Aoyama Gakuin; Placed rating on Towa Real Estate Development under CM with Positive; Downgraded ratings on Japan General Estate to D

Feb. 04, 2009: Assigned A+ to subordinated bonds of Sumitomo Mitsui Banking; Affirmed Ap on Toyo Ink Mfg.; Revised outlook to Negative; Affirmed AA-/Stable and AA- on Tokai Rubber; Assigned AA+ to bonds of Osaka (City of)

Feb. 03, 2009: Affirmed A+ on bonds of Dai-ichi Life Dai2Kai TMK; Affirmed A+/Stable on sr.debts of Sumitomo Warehouse; Affirmed A/Stable and J-1 on Aeon Kyushu; Affirmed BBB+/Stable and BBB+ on Shibusawa Warehouse; Placed Shinki under Credit Monitor Positive (#BBB-/Positive); JCR Downgraded Shinsei Bank to A-/Negative and Affirmed J-1
JCR Downgraded Showa Leasing to BBB+/Negative and J-2; Downgraded Japan General Estate to #BB-/Negative; Credit Monitor

Feb. 02, 2009: Affirmed BBB+/Stable and J-2 on sr.debts and CP of Sapporo Holdings

Jan. 30, 2009: Assigned J-1 to Toyoshima Bills Receivable ABL09-01; Assigned J-1+ to Teral Bills Receivable ABL09-01; Assigned J-1 to Molten Bills Receivable ABL09-01; Assigned J-1 to Toda Kogyo Bills Receivable ABL09-01; Withdraws BB+/Negative rating on Touei Housing; Affirmed BBB+/Stable on senior debts of Roland; Affirmed A/Stable and J-1 on Taiyo Nippon Sanso; Withdraws NJ rating on domestic CP program of Pacific Holdings; Affirmed A/Stable on senior debts of Air Water; Assigned preliminary AA-/A+/A to shelf of Mizuho Corporate Bank

Jan. 29, 2009: Assigned J-1+ to Chudai Jitugyo Bills Receivable ABL09-01; Assigned J-1 to Aso Shoji Bills Receivable ABL09-01; Assigned J-1 to SEIBUKIZAI Bills Receivable ABL09-01; Assigned J-1 to Nippon Tungsten Bills Receivable ABL09-01; Affirmed BBB/Stable on senior debts of Harima Chemicals; Affirmed A+/Stable on senior debts of Daicel Chemical Industries

Jan. 28, 2009: Assigned J-1 to Osaka Steel Tube Bills Receivable ABL09-01; Affirmed A+/Stable on Kyoritsu Women's Educational Institution; Affirmed A-/Stable on senior debts of J-OIL MILLS; Assigned AA+ to bonds of Japan Student Services

Jan. 27, 2009: JCR Revised rating outlook on Nomura Holdings to Negative
JCR Revised rating outlook on Nomura Securities to Negative
JCR Revised rating outlook on Nomura Trust and Banking to Negative
JCR Affirmed AA- on Nomura Europe Finance
JCR Affirmed AA- on Nomura Global Funding
JCR Revised rating outlook on Nomura Bank International to Negative; Affirmed BBB+/Stable on senior debts of Iino Kaiun; Affirmed A- and J-1 on Sinanen; Revised outlook to Negative; Affirmed A-/Stable and J-1 on sr.debts and CP of Itochu Enex; Revised rating outlook on Nomura Holdings and Nomura Securities to Negative; Revised rating outlook on Nomura Holdings and Nomura Securities to Negative; Revised rating outlook on Nomura Holdings and Nomura Securities to Negative; Revised rating outlook on Nomura Holdings and Nomura Securities to Negative; Downgraded Pacific HLD rating to #CCC; Revised direction to CM to Negative; Placed NEC Tokin rating BBB+ under Credit Monitor Developing; Revised rating outlook on Nomura Holdings and Nomura Securities to Negative

Jan. 26, 2009: Assigned J-1+ to MSNW Trust Certificate Series 09010; Assigned J-1 to Bills Receivable ABL09-01 (B Corporation in Mie); Assigned J-1 to Bills Receivable ABL09-01 (A Corporation in Aichi); Assigned J-1 to Nakagawa Seitaikako Bills Receivable ABL09-01; Affirmed AA/Stable on sr.debts of Kitami Institute of Technology; Affirmed AA/Stable and J-1+ on sr.debts and CP of Bridgestone; Affirmed AA+/Stable and AA+ on Japan Student Services Organization

Jan. 23, 2009: Assigned J-1 to Fuji Shokai Bills Receivable ABL09-01; Assigned A- to bonds of Kintetsu; Downgraded Daikyo Inc. rating to BBB-; Removed Credit Monitor; Affirmed AA-/Stable and J-1+ on sr.debts and CP of Daibiru; Affirmed AA rating on Nippon Yusen Kabushiki; Revised outlook to Negative; Pacific Holdings rating remains under Credit Monitor Developing #B,#B-

Jan. 22, 2009: Assigned J-1 to healthcare fees ABL09-01 (D Hospital); Affirmed AAA/Stable on sr.debts of Hitotsubashi University; Withdraws A+p rating on Isetan; Affirmed BBB+/Stable and J-2 on Mitsui Sugar; Assigned AAA to bonds of Aichi Prefecture

Jan. 21, 2009: Assigned J-1 to healthcare fees ABL09-01 (Asahikawa Sanai HP); Affirmed J-1+ on CP of Toyota Motor; Affirms AA Rating on Pohjolan Voima Oy; Outlook Stable; Affirms AA Rating on Teollisuuden Voima Oyj; Outlook Stable; Affirmed BBB+/Stable rating on senior debts of Okaya & Co.; Affirmed AA- on Toyota Boshoku; Revised outlook to Stable; Affirmed A-p on Nishimatsu Construction; Revised outlook to Negative

Jan. 20, 2009: Assigned J-1 to Kurashiki Medical Center Trust Certificates 09-01

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