News Release

Mar. 18, 2022

JCR Upgraded Long-term Issuer Rating on SCREEN HD to A-/Positive

JCR's Rating Review of General Construction Companies

JCR Affirmed AA-/Stable Long-term Issuer Rating on TAISEI

JCR Affirmed AA-/Stable Long-term Issuer Rating on OBAYASHI

JCR Affirmed AA-p/Stable Long-term Issuer Rating on SHIMIZU

JCR Affirmed AAA/Stable Long-term Issuer Rating on Kyushu University

JCR Affirmed A-/Stable Long-term Issuer Rating on Shibusawa Warehouse

JCR Affirmed AA+/Stable Long-term Issuer Rating on Shoko Chukin Bank

[ Asset Securitization Products ] JCR Assigned Preliminary A to Securitization of Leases Receivable 202204

JCR Provided a Third Party Opinion to Positive Impact Finance Provided by Shizuoka Bank to Purpose

JCR Assigned SU 1(F) to Sustainability Loan Framework of Fish Farm Mirai LLC

JCR Assigned Green 1 to the Long Term Loan Borrowed by ADD

JCR Reviewed the 18th Bonds Issued by JA Mitsui Leasing

Mar. 17, 2022

Changes in Parent Companies, etc. of Asset Management Company of Japan Metropolitan Fund and Industrial & Infrastructure Fund - No Immediate Impact on Ratings of Both Investment Corporations

JCR Affirmed AA-/Stable Long-term Issuer Rating on HAMAMATSU PHOTONICS

JCR Affirmed A/Stable Long-term Issuer Rating on SBI Sumishin Net Bank

Increase in CP Maximum Amount of Sanyo Special Steel; Affirmed J-1

Increase in CP Maximum Amount of JERA; Affirmed J-1+

[ Asset Securitization Products ] JCR Assigned AAA and A- to Investment Purpose Condominium Loans Trust (220220)

JCR Assigned SU 1 to the Long-term Loans Borrowed by AEON REIT Investment

Mar. 16, 2022

Impact of Russia's Invasion of Ukraine on Credit Ratings of Japanese Companies - Direct Impact Currently Limited, but JCR Will Watch for Spillover Risks Through Various Channels

Increases in Total Assets and Debt of HANWA - No Immediate Impact on Rating

Mar. 15, 2022

JCR Assigned A-/Stable Long-term Issuer Rating to Seiwa Building

JCR Assigned AA-/Stable Long-term Issuer Rating to Gravity AH

JCR Assigned SU 1(F) to Sustainability Finance Framework of Gravity AH Godo Kaisha

JCR Affirmed A-/Stable Long-term Issuer Rating on Tosei Reit Investment Corporation

[ Asset Securitization Products ] JCR Assigned AA- to Securitization of Loans Receivable 202203

JCR Assigned Preliminary AA- to Securitization of Leases Receivable from SB 202203

JCR Assigned Preliminary AA- to Securitization of Loans Receivable from SB 202203

Mar. 14, 2022

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

JCR Affirmed A/Stable (FC) and A+/Stable (LC) on Poland

[ Asset Securitization Products ] JCR Assigned Preliminary J-1 to BANK OF FUKUOKA C Corporation Bills & Electronically Recorded Receivable ABL 22-03

JCR Provided a Third Party Opinion to Positive Impact Finance Provided by MUFG Bank to Mitsubishi Heavy Industries

Mar. 11, 2022

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

JCR Assigned AAA Rating to Bonds of Central Nippon Expressway

JCR Assigned AA Rating to Bonds of Japan Freight Railway

JCR Assigned Preliminary A- Rating to Shelf Registration of JACCS

JCR Provided a Third Party Opinion to Positive Impact Finance Provided by 33 Bank to Ichishi Seikou Denki

Mar. 10, 2022

JCR Affirmed A/Stable Long-term Issuer Rating on Enex Infrastructure Investment Corporation

JCR Affirmed A+/Negative Long-term Issuer Rating on J. FRONT RETAILING; Assigned Preliminary A+ to Shelf Registration

JCR Assigned Preliminary AA- Rating to Shelf Registration of TOKYU

JCR Provided a Third Party Opinion to Positive Impact Finance Provided by 33 Bank to Daiwatech

JCR Assigned Social 1(F) to Social Finance Framework of Japan Entertainment

Mar. 09, 2022

JCR Upgraded Long-term Issuer Rating on Kenedix Office Investment Corporation to AA/Stable

JCR Affirmed BBB+ Long-term Issuer Rating on Asahi Mutual Life Insurance; Revised Outlook to Positive

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

JCR Affirmed AA/Stable Long-term Issuer Rating on Japan Metropolitan Fund Investment Corporation

JCR Assigned BB+ Rating to Subordinated Loan of UACJ

JCR Provided a Third Party Opinion to Positive Impact Finance provided by 33 Bank to Kitamuragumi

Mar. 08, 2022

JCR Affirmed AA Long-term Issuer Rating on Nippon Prologis REIT; Revised Outlook to Positive

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

JCR Affirmed AA/Stable Long-term Issuer Rating on Daiwa Office Investment Corporation

JCR Affirmed AA-/Stable and J-1+ on Daiwa Securities Living Investment Corporation

[ Asset Securitization Products ] JCR Affirmed BBB+ and BBB- on Specified Bonds 19-12

[ Asset Securitization Products ] JCR Affirmed AA- on Ascent Finance Limited Series 2020-1069

[ Asset Securitization Products ] JCR Affirmed AA- on Ascent Finance Limited Series 2021-1001

JCR Affirmed AA- on Ascent Finance Limited Series 2021-1005

Mar. 07, 2022

JCR Affirmed A+/Stable and J-1 on JGC HOLDINGS

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

Mar. 04, 2022

JCR Downgraded Rating on Russian Federation to #B+/Negative; Maintains Credit Monitor

JCR Assigned A/Stable Long-term Issuer Rating to Daiwabo HD

JCR Assigned A-/Stable FC Long-term Issuer Rating to CPF (Thailand)

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

Increase in CP Maximum Amount of Rakuten Card; Affirmed J-1

JCR Affirmed AA/Stable Long-term Issuer Rating on Nomura Real Estate Master Fund

JCR Assigned A Rating to Bonds of TEPCO Renewable Power

JCR Assigned A+ Rating to Subordinated Bonds of Kansai Electric Power

JCR Assigned AA Rating to Bonds of DAIKIN INDUSTRIES

Mar. 03, 2022

JCR Affirmed BBB Long-term Issuer Rating on NIPPON CHEMI-CON; Revised Outlook to Stable

JCR Affirmed AA-/Stable Long-term Issuer Rating on Sony Bank

Mar. 02, 2022

JCR Affirmed A Long-term Issuer Rating on Nippon Paper Industries; Revised Outlook to Negative

Mar. 01, 2022

JCR Placed Rating on Russian Federation under Credit Monitor #BBB/Negative

JCR Removed Credit Monitor; Upgraded Rating on FUJI to A-; Placed Stable Outlook

JCR Upgraded Long-term Issuer Rating on TOHOKU BANK to BBB+/Stable

JCR Affirmed AAA/Stable Long-term Issuer Rating on NIPPON TELEGRAPH AND TELEPHON

JCR Affirmed AAAp/Stable and J-1+ on East Japan Railway

JCR Affirmed A-/Stable and J-1 on MITSUBISHI MATERIALS

JCR Affirmed AA/Stable Long-term Issuer Rating on Kanagawa University

JCR Affirmed AA+/Stable Long-term Issuer Rating on Kanagawa Prefectural Housing Supply Corporation

Feb. 28, 2022

JCR Affirmed BBB/Stable Long-term Issuer Rating on Soken Chemical & Engineering

JCR Affirmed AA/Stable Long-term Issuer Rating on FAST RETAILING

JCR Affirmed AA+/Stable and J-1+ on Master Trust Bank of Japan

JCR Affirmed AA+/Stable and J-1+ on Custody Bank of Japan

JCR Affirmed A+/Stable FC Long-term Issuer Rating on Aflac Incorporated
JCR Affirmed AA/Stable FC Long-term Issuer Rating on American Family Life Assurance Company of Columbus
JCR Affirmed AA/Stable Long-term Issuer Rating on Aflac Life Insurance Japan

JCR Provided a Third Party Opinion to Positive Impact Finance Provided by Mizuho Bank to Open House Group

JCR Provided a Third Party Opinion on Sustainability Linked Loans Conducted by Aozora Bank to HEIWA REAL ESTATE

JCR Provided a Third Party Opinion on Sustainability Linked Loans Conducted by Sumitomo Mitsui Trust Bank to HEIWA REAL ESTATE

JCR Provided a Third Party Opinion on Sustainability Linked Loans Conducted by Resona Bank to HEIWA REAL ESTATE

JCR Reviewed Sustainability Finance Framework of AEON REIT Investment Corporation

Feb. 25, 2022

JCR Affirmed BBB/Stable FC Long-term Issuer Rating on Indomarco Prismatama

JCR Affirmed AA/Stable Long-term Issuer Rating on Advance Residence Investment Corporation

JCR Assigned A- Rating to Bonds of KANEMATSU

JCR Assigned A- Rating to Bonds of Mitsui Mining and Smelting

JCR Assigned Preliminary AA- Rating to Shelf Registration of Tokyo Century

[ Asset Securitization Products ] JCR Assigned A to Ascent Finance Limited Series 2022-1006

[ Asset Securitization Products ] JCR Assigned J-1 to BANK OF FUKUOKA C Corporation Bills & Electronically Recorded Receivable ABL 22-02

[ Asset Securitization Products ] JCR Assigned J-1 to Aso Shoji Bills Receivable ABL 22-02

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Treatment Fees Receivable ABL 22-02 (D Hospital)

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

JCR Provided a Third Party Opinion to Positive Impact Finance Provided by The Hachijuni Bank to Nagano Electric Railway