News Release

May. 12, 2023: JCR Placed Rating on Sharp under Credit Monitor #BB+/Negative; JCR Affirmed AA-/Stable and J-1+ on Hulic; Change in CP Maximum Amount; JCR Affirmed AA+/Stable Long-term Issuer Rating on Nippon Building Fund; JCR Assigned AAA Rating to Bonds of Central Nippon Expressway; JCR Assigned Preliminary AA- Rating to Shelf Registration of Odakyu Electric Railway; JCR Assigned Preliminary A- to CSIQ Guaranteed JPY-denominated Green Structured Bond Beneficial Interest and Trust ABL

May. 11, 2023: JCR Assigned A- Rating to Bonds of GMO internet group; [ Asset Securitization Products ] JCR Affirmed A on BEP Senior Beneficial Interest/ABL 202203

May. 09, 2023: JCR Affirmed AA+/Stable on NEW KANSAI INTERNATIONAL AIRPORT and KANSAI INTERNATIONAL AIRPORT LAND

May. 08, 2023: JCR Affirmed BBB-/Stable Long-term Issuer Rating on Sankyo Tateyama; JCR Affirmed A+/Stable Long-term Issuer Rating on Okinawa Financial Group and Bank of Okinawa; JCR Affirmed A+/Stable Long-term Issuer Rating on Bank of The Ryukyus; JCR Affirmed A+/Stable Long-term Issuer Rating on SHIGA BANK; JCR Affirmed BBB- on Giga Solar Green Project Bond Trust (Fukushima) Beneficial Interest and Trust ABL; JCR Provided a Third Party Opinion to Positive Impact Finance Provided by The Senshu Ikeda Bank to Denzai Center

May. 01, 2023: Astellas Pharma to Acquire a U.S. Company for Approx. USD 5.9 Billion - Finances Will Deteriorate, but Immediate Rating Revision Is Not Necessary; JCR Assigned A/Negative Long-term Issuer Rating to Rakuten Securities; JCR Assigned BBB Rating to Subordinated Loan of SoftBank Group; JCR Provided a Third Party Opinion to Positive Impact Finance Provided by The Ashikaga Bank to Cosmofoods; JCR Provided a Third Party Opinion to Positive Impact Finance Provided by The Chugoku Bank to Benesse Holdings

Apr. 28, 2023: JCR Affirmed A+ Long-term Issuer Rating on NIPPON SANSO HD; Revised Outlook to Positive; Change in CP Maximum Amount of JALUX; Affirmed J-2; Change in CP Maximum Amount of Mitsui O.S.K. Lines; Affirmed J-1; JCR Affirmed A- on Ecology Trust Bond Ga 4th Fund Trust Bonds and Trust ABL; [ Asset Securitization Products ] JCR Assigned Preliminary A to Senior Beneficial Interest 7931601 Series 4; JCR Assigned Green 1 (T)(F) and Provided a Third Party Opinion on Suitability for the Sustainability-Linked Bond Principles and Sustainability Linked Loan Principles to Sustainable Finance Framework of the Chugoku Electric Power; JCR Reviewed Green Financing Framework of ARUHI; JCR Provided a Third Party Opinion to Positive Impact Finance Provided by The Shoko Chukin Bank to Kuriki Manufacture; JCR Provided a Third Party Opinion to Positive Impact Finance Provided by The Shoko Chukin Bank to Yaka Group; JCR Provided a Third Party Opinion to Positive Impact Finance Provided by The Hyakugo Bank to Nalux; JCR Provided a Third Party Opinion to Positive Impact Finance Provided by THE SHIMIZU BANK to KOYAMA Precision Machine; JCR Provided a Third Party Opinion to Positive Impact Finance Provided by The Nishi-Noppon City Bank to SANKOU