News Release

Aug. 22, 2022

JCR Affirmed A-/Stable and J-1 on VALOR HD; Change in CP Maximum Amount

JCR Affirmed AA-/Stable and J-1+ on Mitsubishi Heavy Industries

JCR Affirmed A+/Stable and J-1 on Yokohama Rubber

JCR Assigned Preliminary AAA Rating to Shelf Registration of Development Bank of Japan

[ Asset Securitization Products ] JCR Affirmed J-1 on Medical Treatment Fees Receivable ABL Program (Kyokuhoukai Medical Association, Asahikawa Sanai Hospital)

[ Asset Securitization Products ] JCR Affirmed J-1 on Medical Treatment Fees Receivable ABL Program (L Hospital)

Aug. 19, 2022

JCR Upgraded Long-term Issuer Rating on TOHO HD to A/Stable

JCR Affirmed A Long-term Issuer Rating on IWATANI; Revised Outlook to Positive

JCR Affirmed A+/Stable Long-term Issuer Rating on Nishi-Nippon Railroad

JCR Assigned AA Rating to Bonds of Chugoku Electric Power

JCR Assigned Preliminary AA Rating to Shelf Registration of Chugoku Electric Power

JCR Assigned AAA Rating to Bonds of Japan Student Services Organization

Aug. 18, 2022

AOKI HD's Former Directors and Executive Officer Arrested on Suspicion of Bribery - No Immediate Impact on Rating; JCR Will Monitor the Future Developments

JCR Affirmed BB (FC/LC) Long-term Issuer Rating on Turkey; Revised Outlook to Negative

JCR Affirmed AA/Stable Long-term Issuer Rating on Mitsui Fudosan Logistics Park

[ Asset Securitization Products ] JCR Assigned Preliminary AAA, Preliminary A and Preliminary A- to Beneficial Interest 202208

JCR Provided a Third Party Opinion on Sustainability Linked Loans to Daiwa House REIT Investment Corporation

JCR Assigned Green 1 (Preliminary Evaluation) to Loans Borrowed by Daiwa House REIT Investment Corporation

Aug. 16, 2022

JCR Affirmed BBB/Stable Long-term Issuer Rating on RENOVA

Change in CP Maximum Amount of HIKARI TSUSHIN; Affirmed J-1

Aug. 15, 2022

JCR Affirmed A/Stable Long-term Issuer Rating on TOBU RAILWAY

JCR Affirmed A+/Stable and J-1 on Nippon Electric Glass; Assigned Preliminary A+ to Shelf Registration

[ Asset Securitization Products ] JCR Assigned Preliminary J-1 to BANK OF FUKUOKA C Corporation Bills & Electronically Recorded Receivable ABL 22-08

Aug. 12, 2022

JCR Upgraded Long-term Issuer Rating on Kawasaki Kisen to BBB+/Positive; Affirmed J-2 on CP

JCR Affirmed A-/Stable and J-1 on Chuo-Nittochi Group

JCR Affirmed BBB/Stable Long-term Issuer Rating on FUKUSHIMA BANK

JCR Affirmed AAA/Stable Long-term Issuer Rating on African Development Bank; Assigned AAA to Bonds

JCR Assigned Preliminary AA Rating to Shelf Registration of Sumitomo Mitsui Finance and Leasing

[ Asset Securitization Products ] JCR Assigned A to Senior Beneficial Interest 7931601 Series 1

Aug. 10, 2022

JCR Affirmed A/Negative Long-term Issuer Rating on Japan Airlines

JCR Affirmed A/Stable Long-term Issuer Rating on Canadian Solar Infrastructure Fund

JCR Affirmed A-/Stable Long-term Issuer Rating on African Export-Import Bank

JCR Assigned AA+ Rating to Bonds of Electric Power Development

JCR Assigned AAA Rating to Bonds of Central Nippon Expressway

JCR Reviewed Green Finance Framework of Kenedix Office Investment Corporation

Aug. 09, 2022

JCR Provided a Post-issuance Verification Report to Bonds no.5 (Sustainability Linked Bonds) Issued by Arakawa Chemical Industries

Aug. 08, 2022

Nippon Paper Industries Has Announced Financial Projection for FY2022 - Roadmap to Future Profit Improvement Will Be Closely Watched

JCR Affirmed AA+/Stable Long-term Issuer Rating on Toa Reinsurance

JCR Assigned Preliminary AA Rating to Shelf Registration of Kansai Electric Power

JCR Assigned Preliminary AA Rating to Shelf Registration of Tohoku Electric Power

JCR Provided a Third Party Opinion on Nissay Green Loan Framework by Nippon Life Insurance

JCR Provided a Third Party Opinion to Positive Impact Finance Provided by The Hyakugo Bank to AIKA

JCR Assigned SU 1(F) to Sustainability Finance Framework of Saitama Prefecture

Aug. 05, 2022

JCR Affirmed A-/Stable and J-1 on Central Glass

JCR Affirmed AA/Stable Long-term Issuer Rating on TOYOTA BOSHOKU

JCR Affirmed AAA/Stable (FC/LC) on Canada

JCR Assigned A+ Rating to Bonds of YOKOHAMA MINATOMIRAI RAILWAY

JCR Assigned AA+ Rating to Bonds of NTT TC Leasing

JCR Assigned AAA Rating to Bonds of Development Bank of Japan

JCR Assigned AA+ Rating to Bonds of NEW KANSAI INTERNATIONAL AIRPORT

JCR Assigned Preliminary AA- Rating to Shelf Registration of AEON REIT Investment Corporation

[ Asset Securitization Products ] JCR Affirmed BBB- on ABL 21-05

JCR Assigned Green 1(Preliminary Evaluation) to Public Bonds of Nagano Prefecture

JCR Provided a Third Party Opinion to Positive Impact Framework of The Chiba Bank

JCR Provided a Third Party Opinion to Positive Impact Finance Provided by The Chiba Bank to CHIBAGIN LEASING

Aug. 04, 2022

JCR Affirmed BBB+/Stable Long-term Issuer Rating on HEIWA REAL ESTATE

JCR Assigned AA+ Rating to Bonds of Nippon Prologis REIT

Aug. 03, 2022

JCR Upgraded Long-term Issuer Rating on Ferrotec HD to BBB/Positive

Decrease in CP Maximum Amount of Kansai Electric Power; Affirmed J-1+

JCR Affirmed A-/Stable FC Long-term Issuer Rating on Vena Energy HD and Vena Energy Capital

JCR Assigned AA+ Rating to Bonds of NARITA INTERNATIONAL AIRPORT

JCR Assigned Preliminary A+ Rating to Shelf Registration of Keikyu

JCR Assigned Green 1(F) to Green Bonds Framework of Hyogo Prefecture

Aug. 02, 2022

JCR Upgraded Long-term Issuer Rating on Nippon Prologis REIT to AA+/Stable

[ Asset Securitization Products ] JCR Reviewed Beneficial Interest 202007 (Contract No. 210252), 202107 (Contract No. 210272), 202111 (Contract No. 210281) and 202201 (Contract No. 210290)

Aug. 01, 2022

Establishment of Rating Methodology for National University Corporations and Revision of Rating Methodology for Incorporated Educational Institutions

JCR Upgraded Rating on ITOCHU ENEX to AA-/Stable and J-1+

JCR Affirmed A and J-1 on KUREHA; Revised Outlook to Positive; Assigned Preliminary A

JCR Affirmed BBB+/Negative Long-term Issuer Rating on OKASAN SECURITIES GROUP and OKASAN SECURITIES

JCR Affirmed BBB+/Stable and J-2 on Tokai Tokyo Financial HD and BBB+/Stable on Tokai Tokyo Securities

JCR Affirmed BBB+/Stable Long-term Issuer Rating on Tsukuba Bank

JCR Affirmed A on SGET Usa Mega Solar Power Station Project Beneficial Interest

JCR Affirmed A on SGET Tochigi Mega Solar Power Station Project Beneficial Interest

JCR Assigned Green 1(F) to Green Bond Framework of ANA HOLDINGS

JCR Reviewed Bonds no.5 Issued by SEIBU HOLDINGS

Jul. 29, 2022

JCR Upgraded Long-term Issuer Rating on TOMONY HD to A/Stable

JCR Upgraded Rating on POCKET CARD to A+/Stable; Affirmed J-1 on CP

JCR Affirmed BBB-/Stable Long-term Issuer Rating on ROYAL HD

JCR Affirmed BBB+/Stable Long-term Issuer Rating on HOSOKAWA MICRON

JCR Affirmed A/Stable Long-term Issuer Rating on Anicom HD
JCR Affirmed A/Stable Long-term Issuer Rating on Anicom Insurance

JCR Affirmed BB+/Stable Long-term Issuer Rating on YAMADA SERVICER SYNTHETIC OFFICE

JCR Affirmed S3 Special Servicer Rating on YAMADA SERVICER SYNTHETIC OFFICE

JCR Assigned Preliminary A+ Rating to Subordinated Bonds of Tohoku Electric Power

JCR Assigned Preliminary A+ Rating to Subordinated Loan of Chugoku Electric Power

JCR Assigned Preliminary AA+ Rating to Shelf Registration of NEW KANSAI INTERNATIONAL AIRPORT

[ Asset Securitization Products ] JCR Assigned BBB- Rating to ABL 22-07

JCR Provided a Third Party Opinion to Transition Linked Loan and Transition Linked Hybrid Loan Framework of The Chugoku Electric Power

JCR Provided a Third Party Opinion to Positive Impact Finance Provided by San ju San Bank to Eguchi Holdings

JCR Provided a Third Party Opinion to Positive Impact Finance Provided by THE SHIMIZU BANK to kisho sangyo

JCR Provided a Third Party Opinion to Positive Impact Finance Provided by THE SHIMIZU BANK to KOKORO KENSETU

JCR Provided a Third Party Opinion to Positive Impact Finance Provided by THE SHIMIZU BANK to Yamakei-seicha

JCR Assigned Green 1(F) to Green Finance Framework of TOKYU REIT

JCR Assigned Green 1 to Long Term Loan Borrowed by Kabuto Bio Farm

JCR Provided a Post-issuance Verification Report to Bonds no.2 (Sustainability Linked Green Bonds) of TAKAMATSU CONSTRUCTION GROUP

JCR Reviewed Bonds no.2 of TAKAMATSU CONSTRUCTION GROUP

Jul. 28, 2022

Z Holdings Restructures Financial Business - No Immediate Impact on PayPay Card's Rating

JCR Downgraded Ratings on H.I.S. to BB-/Negative and B+

JCR Affirmed A and J-1 on Nomura Real Estate HD; Revised Outlook to Positive

JCR Affirmed A-/Stable Long-term Issuer Rating on Tsukishima Kikai; Assigned Preliminary A- to Shelf Registration

JCR Affirmed AAA/Stable Long-term Issuer Rating on Central Japan Railway