News Release

Feb. 27, 2023

JCR Assigned AA- to Sylph Limited Series 50746

JCR Assigned A+ to Ascent Finance Limited Series 2023-1011

JCR Provided a Third Party Opinion to Positive Impact Finance Provided by The Shoko Chukin Bank to SAWANOTSURU

JCR Provided a Third Party Opinion to Positive Impact Finance Provided by The Joyo Bank to Japan Logistics Development

Feb. 24, 2023

JCR Assigned A-/Stable FC Long-term Issuer Rating to Lotte Capital

JCR Affirmed J-3 Short-term Issuer Rating on INV

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

JCR Provided a Third Party Opinion to Positive Impact Finance Provided by The Bank of Kyoto to Houkoku Industry

Feb. 22, 2023

JCR's Rating Review of 3 Major Shipping Companies

JCR Affirmed BBB Long-term Issuer Rating on Oenon HD; Revised Outlook to Negative

JCR Affirmed A+ and J-1 on Fuyo General Lease; Revised Outlook to Positive
JCR Affirmed A+ and J-1 on Sharp Finance; Revised Outlook to Positive

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

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

JCR Affirmed AA-/Stable Long-term Issuer Rating on SOSiLA Logistics REIT

JCR Assigned AA- Rating to Bonds of SoftBank

JCR Assigned A Rating to Bonds of Tokyu Fudosan HD

JCR Assigned A+ Rating to Bonds of HIKARI TSUSHIN

JCR Assigned A+ Rating to Bonds of Mitsui Chemicals

JCR Assigned A+ Rating to Bonds of JACCS

JCR Assigned A+ Rating to Subordinated Loan of ORIX

JCR Assigned Preliminary A- Rating to Shelf Registration of SEIBU HD

JCR Assigned Preliminary AA to Long-term Issue Rating of Icho Credit Service LLC

Feb. 21, 2023

Policy of Selling Government Holdings of Shoko Chukin Bank - JCR Will Re-examine Possibility of Government Support

JCR Affirmed A+ and J-1 on J. FRONT RETAILING; Revised Outlook to Stable

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

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

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

JCR Assigned Preliminary A+ Rating to Shelf Registration of TAKARA HD

JCR Assigned AA Rating to Libra A Limited Series C010

[ Asset Securitization Products ] JCR Assigned J-3 to Narasaki Stax Accounts Receivable ABL 23-02

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

Feb. 20, 2023

JCR Affirmed A/Stable and J-1 on TOYOBO

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

Change in CP Maximum Amount of Mitsui Sumitomo Insurance; Affirmed J-1+

JCR Assigned Preliminary BBB to BCPG Nagano Komagane Green Project Bond Trust Beneficial Interest and Trust ABL

JCR Provided a Third Party Opinion to Positive Impact Finance Provided by The Shoko Chukin Bank to DAIWA-TSUSYO

Feb. 17, 2023

JCR Upgraded Long-term Issuer Rating on PayPay Bank to AA-/Stable

JCR Affirmed A/Stable Long-term Issuer Rating on Takasago Thermal Engineering

JCR Affirmed A+/Stable Long-term Issuer Rating on Mitsubishi Chemical Group

JCR Assigned Preliminary BBB+ Rating to Bonds of Daiei Real Estate & Development

JCR Assigned AA- Rating to Bonds of Kyushu Electric Power

JCR Assigned AA- Rating to Bonds of Marubeni

JCR Assigned A Rating to Bonds of AEON Financial Service

JCR Assigned A+ Rating to Bonds of Daiwa Securities Group

JCR Assigned A Rating to Subordinated Loan of JFE HD

JCR Assigned Preliminary J-1 to Aso Shoji Bills Receivable ABL 23-02

JCR Assigned Green 1 (preliminary) to Bonds of Daiei Real Estate & Development

JCR Provided a Third Party Opinion on Sustainability Linked Loan Conducted by Development Bank of Japan to SUMITOMO CHEMICAL

JCR Provided a Third Party Opinion to Positive Impact Finance Provided by The Shoko Chukin Bank to Dousui Nakatani Suisan

Feb. 16, 2023

Rakuten Group’s FY2022 Results - Mobile Segment Far from Steady, Future Developments to Be Closely Watched

JCR Affirmed A Long-term Issuer Rating on NISSAN MOTOR; Revised Outlook to Stable

JCR Affirmed A Long-term Issuer Rating on NISSAN FINANCIAL SERVICES; Revised Outlook to Stable

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

JCR Assigned AA- to Sylph Limited Series 50742

JCR Assigned Green 1(F) to Green Finance Framework of NTT TC Leasing

Feb. 15, 2023

JCR Upgraded Long-term Issuer Rating on Hoshino Resorts REIT to A+/Stable

JCR Affirmed A Long-term Issuer Rating on OKAZAKI SHINKIN BANK; Revised Outlook to Negative

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

JCR Assigned AA Rating to Bonds (Tier 2 with loss absorption clause) of Shoko Chukin Bank

JCR Assigned Preliminary A+ Rating to Bonds (Tier 2 with loss absorption clause) of Sumitomo Mitsui Financial Group

JCR Assigned AAA Rating to Bonds of Central Nippon Expressway

[ Asset Securitization Products ] JCR Assigned A- to Ganymede Limited Series 2023-6

JCR Assigned AA- to Ascent Finance Limited Series 2023-1007

JCR Assigned SU 1(F) to Green / Social / Sustainability Bond Framework by The Shoko Chukin Bank

JCR Provided a Third Party Opinion to Positive Impact Finance Provided by The Shoko Chukin Bank to SATO MANUFACTURING

JCR Provided a Third Party Opinion to Positive Impact Finance Provided by The Shoko Chukin Bank to Sawai Ranch

Feb. 14, 2023

JCR Affirmed A- Long-term Issuer Rating on Tosei Reit Investment Corporation; Revised Outlook to Positive

JCR Affirmed A+/Stable Long-term Issuer Rating on Kyoritsu Women's Educational Institution

JCR Affirmed A-/Stable and J-1 on MEIDENSHA

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

[ Asset Securitization Products ] JCR Affirmed AA on Oxygen Capital Limited Series 151

JCR Affirmed AA on Oxygen Capital Limited Series 86, Series 87, and Series 112

JCR Affirmed AA on Neon Capital Limited Series 707 and 714

Feb. 13, 2023

HOKUTO Revised Its Earnings Forecast Downward - No Immediate Impact on the Rating, but JCR Will Closely Monitor Future Earnings trends

JCR Assigned A/Stable Long-term Issuer Rating to ESR Japan REIT

JCR Assigned Social 1(F) to Social Finance Framework of Kanagawa Prefectural Housing Supply

Feb. 10, 2023

JCR Affirmed BBB- and J-2 on Financial Partners Group; Revised Outlook to Positive

JCR Affirmed A+/Stable and J-1 on ITO EN

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

JCR Affirmed AA/Stable Long-term Issuer Rating on Seven & i HD
JCR Affirmed AA/Stable Long-term Issuer Rating on SEVEN-ELEVEN JAPAN

JCR Affirmed AAA/Stable Long-term Issuer Rating on National Institution for Academic Degrees and Quality Enhancement of Higher Education; Assigned AAA to Bonds

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

JCR Assigned A- Rating to Bonds of Chuo-Nittochi Group

JCR Assigned AA+ Rating to Bonds of Electric Power Development

JCR Assigned AA- Rating to Bonds of Sumitomo Mitsui Auto Service

JCR Assigned AAA Rating to Bonds of West Nippon Expressway

JCR Provided a Third Party Opinion on Sustainability Linked Bond Framework of TOYOBO

JCR Assigned Social 1 to Bonds of National Institution for Academic Degrees and Quality Enhancement of Higher Education

Feb. 09, 2023

JCR Assigned A-/Stable Long-term Issuer Rating to Tokyo Shinkin Bank

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

[ Asset Securitization Products ] JCR Affirmed J-1 on ABL Program (Commitment Line) of Project Sunrise I Series 2022-1

Feb. 08, 2023

Sharp Revises FY2022 Earnings Forecasts; Operating Income in the Red, Ordinary and Net Income Undecided - Watch for Impact of Structural Reforms on Business Performance and Financial Position

JCR Upgraded Long-term Issuer Rating on SANKEI BUILDING to A+/Stable

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

JCR Affirmed BBB+/Stable Long-term Issuer Rating on NIPPON THOMPSON

JCR Assigned AA Rating to Bonds of MORI TRUST Sogo Reit

[ Asset Securitization Products ] JCR Assigned Preliminary A to Senior Beneficial Interest 7931601 Series 3

JCR Affirmed A+ on Nomura Trust and Banking Unsecured Trust Bonds No. 37

[ Asset Securitization Products ] JCR Affirmed A+ on Ganymede Limited Series 2021-180

[ Asset Securitization Products ] JCR Affirmed A on Ganymede Limited Series 2022-2