News Release

Nov. 18, 2022

JCR Affirmed A-/Stable Long-term Issuer Rating on CHUBUSHIRYO

JCR Affirmed AAA/Stable Long-term Issuer Rating on National University Corporation, the University of Tokyo

JCR Affirmed A/Stable Long-term Issuer Rating on Topre

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

JCR Affirmed A/Stable Long-term Issuer Rating on Nishimatsu Construction

JCR Affirmed AA-/Stable and J-1+ on PayPay Card

JCR Affirmed AA-/Stable and J-1+ on LINE

JCR Assigned A Rating to Bonds of UBE Corporation

JCR Assigned AA- Rating to Bonds of Kyushu Electric Power

JCR Assigned A+ Rating to Bonds of MINEBEA MITSUMI

JCR Assigned AAA Rating to Bonds of East Nippon Expressway

JCR Assigned AA Rating to Bonds of Mitsui Fudosan Logistics Park

JCR Assigned Preliminary J-1 to eDirect Trust N1

[ Asset Securitization Products ] JCR Assigned Preliminary AAA to Class A Beneficial Interest 202301

JCR Assigned AA- to Ascent Finance Limited Series 2022-1060

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

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

JCR Provided a Third Party Opinion to Sustainability Linked Loan and Assigned Social 1 to Social Loan of Kids Corporation Holdings

JCR Assigned Green 1(F) to Green Finance Framework of Samty Residential Investment

Nov. 17, 2022

JCR Affirmed A+/Stable Long-term Issuer Rating on K'S HD

JCR Affirmed A+/Stable Long-term Issuer Rating on YAMADA HD

JCR Affirmed AA/Stable Long-term Issuer Rating on Shinkin Securities

JCR Assigned AA Rating to Bonds of NIDEC

JCR Assigned Green 1(F) to Green Finance Framework of Mitsui Fudosan Private REIT

Nov. 16, 2022

JCR Upgraded Long-term Issuer Rating on SUMCO to A/Stable; Affirmed J-1 on CP

JCR Affirmed A and J-1 on TAIHEIYO CEMENT; Revised Outlook to Stable

JCR Affirmed A-/Stable and J-1 on KROSAKI HARIMA

JCR Affirmed A-/Stable Long-term Issuer Rating on Shiba Shinkin Bank

JCR Assigned AA Rating to Bonds of Tohoku Electric Power

JCR Assigned AA Rating to Bonds of Japan Metropolitan Fund Investment Corporation

[ Asset Securitization Products ] JCR Assigned Preliminary J-1 to BANK OF FUKUOKA C Corporation Bills & Electronically Recorded Receivable ABL 22-11

Nov. 15, 2022

JCR Upgraded Long-term Issuer Rating on TIS and INTEC to A+/Stable

JCR Upgraded Long-term Issuer Rating on Nabtesco to A+/Stable; Affirmed J-1 on CP

JCR Affirmed A+/Stable and J-1 on SUMITOMO CHEMICAL

JCR Affirmed A-/Stable Long-term Issuer Rating on Takeda Healthcare Foundation

JCR Affirmed BBB+/Stable Long-term Issuer Rating on TOKYO RAKUTENCHI

JCR Affirmed A+/Stable Long-term Issuer Rating on NIFCO

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

Nov. 14, 2022

Daio Paper Revises Downward its Earnings Forecast for the Fiscal Year Ending March 31, 2023 - No Immediate Impact on Rating, but JCR Will Watch Road to Recovery

JCR Affirmed A/Stable Long-term Issuer Rating on OSAKA STEEL

JCR Affirmed A+/Stable Long-term Issuer Rating on NIPPON STEEL ENGINEERING

JCR Affirmed A+/Stable FC Long-term Issuer Rating on Banco Santander-Chile

JCR Assigned AA- Rating to Ascent Finance Limited Series 2022-1063

JCR Assigned AA- Rating to Ascent Finance Limited Series 2022-1064

Nov. 11, 2022

Seven & i Holdings Transfers Shares in Sogo & Seibu - No Immediate Impact on Rating

JCR Upgraded Ratings on Thailand to A/A+ (FC/LC) with Stable Outlook

JCR Affirmed A+/Stable and J-1 on NICHIREI

JCR Affirmed A+/Stable and J-1 on NIPPON STEEL TEXENG

JCR Affirmed A+/Stable Long-term Issuer Rating on NSK

JCR Affirmed A+/Stable Long-term Issuer Rating on Juroku Financial Group
JCR Affirmed A+/Stable Long-term Issuer Rating on Juroku Bank

JCR Affirmed BBB+/Stable FC Long-term Issuer Rating on Leonteq Securities

JCR Assigned AA+ Rating to Bonds of Electric Power Development

JCR Affirmed AA- on Notes of Violet Protected Asset SPC Series VPA 1 S01

JCR Affirmed AA- on Notes of Violet Protected Asset SPC Series VPA 1 S02

JCR Affirmed AA- on Notes of Violet Protected Asset SPC Series VPA 1 S08

JCR provided a third party opinion on Sustainability Linked Bond Framework of Shiseido

JCR Reviewed Green Financing Framework of ARUHI

Nov. 10, 2022

Nippon Sheet Glass Posts Impairment Loss - No Immediate Impact on Rating

Change in CP Maximum Amount of JACCS; Affirmed J-1

JCR Affirmed AA/Stable Long-term Issuer Rating on Mitsui Fudosan Private REIT

JCR Affirmed AAA/Stable Long-term Issuer Rating on Inter-American Development Bank

JCR Assigned SU 1(F) to Sustainable Finance Framework by Morinaga

JCR Provided a Third Party Opinion to Sustainability Linked Loan Framework of Kawasaki Heavy Industries

Nov. 09, 2022

Sumitomo Mitsui Construction Revised FY2022 Earnings Forecast - Downward Pressure on Rating; JCR Will Watch Progress of Large-Scale Construction Projects

JCR Affirmed AA/Stable Long-term Issuer Rating on Industrial & Infrastructure Fund Investment Corporation

[ Asset Securitization Products ] JCR Assigned Preliminary A Rating to Senior Beneficial Interest 7931601 Series 2

JCR Assigned Green 1(F) to Green Bond Framework of Kyoto City

Nov. 07, 2022

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

Nov. 04, 2022

JCR Affirmed AA- Long-term Issuer Rating on Marubeni Private Real Estate Investment Trust; Revised Outlook to Positive

JCR Affirmed AAA/Stable Long-term Issuer Rating on National University Corporation Tohoku University

JCR Affirmed A-/Stable Long-term Issuer Rating on GIFU SHINKIN BANK

JCR Assigned BBB to BCPG Fukushima Yabuki Green Project Bond Trust Trust ABL

Nov. 02, 2022

JCR Affirmed BBB+/Stable and J-2 on ZENSHO HD

JCR Affirmed AAA/Stable Long-term Issuer Rating on Tokyo Metro

JCR Affirmed A/Stable Long-term Issuer Rating on Amagasaki Shinkin Bank

JCR Assigned Preliminary A Rating to Subordinated Bonds of JERA

JCR Comments on the Effects of ICAO Long-Term Global Aspirational Goal, etc. on its Green Bond Framework Evaluation to ANA

Nov. 01, 2022

JCR Affirmed A- and J-1 on IHI; Revised Outlook to Positive

JCR Affirmed A Long-term Issuer Rating on Kawasaki Heavy Industries; Revised Outlook to Stable

JCR Affirmed A+/Stable and J-1 on ISUZU MOTORS

JCR Affirmed A+/Stable Long-term Issuer Rating on IZUMI

Change in CP Maximum Amount of Kyushu Electric Power; Affirmed J-1+

JCR Affirmed A-/Stable and J-1 on Konoike Transport

JCR Affirmed AA- on Securitization of Leases Receivable from SB

JCR Affirmed AA- on Securitization of Loans Receivable from SB

Oct. 31, 2022

JCR Assigned AA+/Stable Long-term Issuer Rating to Recruit HD

JCR Upgraded Long-term Issuer Rating on Fukuoka Financial Group to A+/Stable; Affirmed J-1 on CP
JCR Upgraded Long-term Issuer Rating on BANK OF FUKUOKA to AA-/Stable
JCR Upgraded Long-term Issuer Rating on Kumamoto Bank to AA-/Stable
JCR Upgraded Long-term Issuer Rating on Juhachi-Shinwa Bank to AA-/Stable

JCR Affirmed AAAp/Stable Long-term Issuer Rating on European Bank for Reconstruction and Development

JCR Assigned Preliminary AA- Rating to Shelf Registration of Mitsubishi Heavy Industries

[ Asset Securitization Products ] JCR Assigned AA- to Ganymede Limited Series 2022-107

JCR Provided a Third Party Opinion to Positive Impact Finance Provided by THE SHIMIZU BANK to SHIRATORI CONSTRUCTION

JCR Provided a Third Party Opinion to Positive Impact Finance Provided by THE SHIMIZU BANK to Shizuoka-chaen

JCR Provided a Third Party Opinion to Positive Impact Assessment provided by Sumitomo Mitsui Trust Bank to Sumitomo Heavy Industries

JCR Provided a Third Party Opinion to Positive Impact Finance Provided by The Joyo Bank to KIUCHI BREWERY

JCR Assigned Social 1 to Long-term Loan Borrowed by ARCALIS

Oct. 28, 2022

ARAKAWA CHEMICAL INDUSTRIES Revises Earnings Forecasts Downward - Increasing Downward Pressure on Rating

JCR Assigned J-1 Rating to CP of Daicel

JCR Upgraded Long-term Issuer Rating on NTT TC Leasing to AAA/Stable; Affirmed J-1+ on CP

JCR Affirmed A/Stable and J-1 on SKY Perfect JSAT HD

JCR Assigned AA- Rating to Bonds of Sumitomo Mitsui Trust Bank