News Release

Oct. 01, 2007

Affirmed AA/Positive on senior debts of Nippon Steel

Affirmed AA/Positive on senior debts of Nippon Steel

Affirmed AA/Positive on senior debts of Nippon Steel

Affirmed AA/Positive on senior debts of Nippon Steel

Affirmed AA/Positive on senior debts of Nippon Steel

JCR Affirmed AA/Stable on sr.debts on Nomura Holdings
JCR Affirmed AA/Stable and AA- on Nomura Securities

Affirmed A+ for Daiwa Securities Group ; Revised outlook to Positive

Affirmed A+ for Daiwa Securities Group ; Revised outlook to Positive

Affirmed A+ for Yamada Denki; Revised outlook to Positive

JCR Affirmed AA and AA- on EMTN of Nomura Bank International

JCR Placed rating on Nomura Global Funding under Credit Monitor Developing

JCR Affirmed AA on Euro Note Programme of Nomura Europe Finance

Sep. 28, 2007

Assigned J-1 to Aso Shoji Bills Receivable ABL07-09

Assigned J-1+ to Teral Kyokuto Bills Receivable ABL07-09

Assigned J-1+ to JUTEC Bills Receivable ABL07-09

Assigned J-1 to Bills Receivable ABL07-09 (A Corporation in Aichi)

Assigned J-1 to Hayakawa Rubber Bills Receivable ABL07-09(2)

Assigned J-1+ to Nippei Toyama Bills Receivable ABL07-09

Assigned J-1 to Toda Kogyo Bills Receivable ABL07-09

Assigned J-1 to Molten Bills Receivable ABL07-09

Affirmed A-/Stable on sr.debts of Konoike Transportation

Affirmed BBB/Stable on senior debts of Intec Holdings

Affirmed BBB/Stable on senior debts of Intec

Assigned AA-/Stable for SMBC Leasing (Sumitomo Mitsui Finance and Leasing);Upgraded MTN from A+ to AA-

Assigned preliminary A- to shelf registration of Nisshin Oillio

Upgraded sr.debts of Makino Milling Machine to A-

Upgraded sr.debts of Okuma Corporation to A-/Stable from BBB+/Positive

Assigned AA-/Stable to sr.debts of Sumitomo Mitsui Auto Service

Affirmed BBB/Stable on senior debts of Fuji

Withdrawn BBB/Stable rating on senior debts of Zojirushi

Withdrawn BB+/Stable and J-3 on sr.debts and CP of Sun Wave

Affirmed J-1 on CP of Tokyu Land

Assigned preliminary BBB to shelf registration of Suruga

Affirmed A/Stable on sr. debts of Izumi

Sep. 27, 2007

Assigned J-1 to Bills Receivable ABL07-09 (B Corporation in Mie)

Assigned J-1 to MoonStar Bills Receivable ABL07-09

Assigned J-1 to Ochisangyo Bills Receivable ABL07-09-(1)(2)(3)

Assigned J-1 to Nippon Tungsten Bills Receivable ABL07-09

Assigned J-1+ to Kimura Bills Receivable Certificates/ABL07-09

Affirmed BBB+/Stable on senior debts of Nippon Sheet Glass

JCR Withdraws AA- and A+ rating on EMTN of TTB Finance Cayman

Upgraded rating on sr.debts of Yasuda Real Estate to BBB+

Downgraded NIS Group to BB+

Downgraded Nissin Servicer to BB+

Sep. 26, 2007

Assigned J-1 to Osaka Steel Tube Bills Receivable ABL07-09

Assigned J-1 to SEIBUKIZAI Bills Receivable ABL07-09

Assigned preliminary A to shelf registration of Fuyo General Lease

Upgraded sr.debts of Kowa Shinagawa Development to BBB+/Stable

Affirmed AA-/Stable on sr.debts of Yamaha Corporation

Affirmed BBB-/Stable on sr.debts of Miyoshi Oil & Fat

Affirmed J-1 on CP program of Sanyo Special Steel

Sep. 25, 2007

Assigned J-1+ to MSNW Trust Certificate Series 07090

Assigned J-1+ to Amano Bills Receivable Certificates/07-09

Assigned J-1 to healthcare fees receivable ABL07-09 (Kyowakai)

Assigned J-1 to Nakagawa Seitaikako Bills Receivable ABL07-09

Assigned J-1 to Fuji Shokai Bills Receivable ABL07-09

Affirmed BBB- for Kyosei Rentemu; Revised outlook to Stable

Removed CM and upgraded Sumitomo Wiring to AA/Stable

Affirmed AA/Stable on sr.debts of Sumitomo Electric Industries

Assigned preliminary BBB- to shelf registration of Zephyr

Affirmed A+/Stable and J-1 on sr.debts and CP of Ito En

Affirmed A on EMTN programme of Tokyo Leasing

Withdrawn A/Stable rating on senior debts of Itochu Finance

Sep. 21, 2007

Assigned J-1+ to ABCP of Total Asset Funding Corp.

JCR Upgraded sr.debts and CP of Mitsubishi Motors to BB/Stable and J-3
JCR Upgraded MTN program of Mitsubishi Motors Credit of America to BB-
JCR Upgraded MTN program of MMC International Finance Netherlands to BB-

Affirmed AA-/Stable on senior debts of Awa Bank

Upgraded sr.debts of Marubeni-Itochu Steel to A from A-

Affirmed AA- for Toyota Boshoku; Revised outlook to Positive

Sep. 20, 2007

Affirmed AA/Stable on sr.debts of Chugai Pharmaceutical

Affirmed BBB-/Stable on senior debts of Sogo Medical

Affirmed BBB+/Stable and J-2 on senior debts and CP of Toho Zinc

Assigned preliminary A+ and A on shelf registration of Mizuho Trust & Banking

Assigned BBB- to bonds of Japan General Estate

Assigned AA- to bonds of Orix

Sep. 19, 2007

Assigned J-1 to healthcare fees ABL07-09 (Asahikawa Sanai HP)

Assigned J-1 to healthcare fees receivable ABL07-09 (C Hospital)

Affirmed BBB+/Stable on senior debts of Sankei Shimbun

Sep. 18, 2007

Affirmed J-1+ on ABCP following review of Credit Enhancers

Affirmed J-1+ on ABCP following review of Credit Enhancers

Affirmed J-1+ on ABCP following review of Credit Enhancers

Affirmed J-1+ on ABCP following review of Credit Enhancers

Affirmed J-1+ on ABCP following review of Credit Enhancers

Assigned J-1 to healthcare fees ABL07-09 (D Hospital)

Assigned J-1 to healthcare fees ABL07-09 (E Hospital)

JCR Affirmed J-1+ on ABCP following review of Credit Enhancers

Upgraded Class D bonds of Trust Maison to A-

Assigned preliminary A- to shelf registration of IBJ Leasing

Affirmed A-/Stable on senior debts of Fukuyama Transporting

Affirmed A-/Stable on senior debts of Higashi-Nippon Bank

Affirmed BBB+/Stable on sr.debts of Tonami Transportation

Affirmed BBB+/Stable on senior debts of Hakuto

Sep. 14, 2007

Assigned A to bonds of Takara Holdings

Affirmed A-/Stable on sr.debts of Asahi Broadcasting

Upgraded sr.debts of Kanamoto to BBB from BBB-

Affirmed A+/Stable and A on sr.debts and sub.bonds of Hiroshima Bank

Downgraded rating on CP of Credia to D from NJ

Sep. 13, 2007

Assigned J-1+ to Takeda Gen. Hospital Trust Certificates 07-09

Assigned J-1 to healthcare fees ABL07-09 (Heiwa & Konbu Onsen)

Assigned J-1 to healthcare fees receivable ABL07-09 (A Hospital)

Assigned A to bonds of Sumitomo Realty & Development