News Release

Feb. 28, 2025

SHOKI, The Shoko Chukin Bank: Second Opinion on Positive Impact Finance

Kumamoto Kabou, The Shoko Chukin Bank and The Kumamoto Dai-ichi Shinkin Bank: Second Opinion on Positive Impact Finance

Kazragi Jidosha, The Nanto Bank: Second Opinion on Positive Impact Finance

FT Line, THE NISHI-NIPPON CITY BANK: Second Opinion on Positive Impact Finance

Shienjuryo, Hamamatsu Iwata Shinkin Bank: Second Opinion on Positive Impact Finance

CLASSIC, The Bank of Yokohama: Second Opinion on Positive Impact Finance

Chuo Kankyo Kaihatsu, The Bank of Yokohama: Second Opinion on Positive Impact Finance

Feb. 27, 2025

JCR Placed Rating on Tonami Holdings under Credit Monitor #A-/Positive

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

JCR Affirmed AA/Stable Long-term Issuer Rating on NTT UD REIT Investment Corporation

JCR Affirmed A/Stable and J-1 on Yasuda Real Estate

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

JCR Assigned Preliminary A+ Rating to Shelf Registration of SCSK

[ Asset Securitization Products ] JCR Assigned A to Beneficial Interest (202502)

[ Asset Securitization Products ] JCR Assigned J-1 to Aso Shoji Bills Receivable ABL 25-02

Hitoyoshi Asano Electric, The Kumamoto Bank: Second Opinion on Positive Impact Finance

Feb. 26, 2025

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

JCR Affirmed A/Stable Long-term Issuer Rating on AEON Mall

JCR Affirmed A/Stable and J-1 on AEON KYUSHU

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

JCR Affirmed A/Stable and J-1 on AEON Financial Service

JCR Affirmed A/Stable and J-1 on AEON Housing Loan Service

JCR Affirmed A/Stable FC Long-term Issuer Rating on AEON Thana Sinsap (Thailand)

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

JCR Assigned A+ Rating to Bonds of HIKARI TSUSHIN

JCR Downgraded Libra A Limited Series C052 to A-

JCR Affirmed BBB on Amp Green Project Bond Trust (Gunma) Beneficial Interest and Trust ABL

JCR Affirmed BBB on Amp Green Project Bond Trust (Yamaguchi) Beneficial Interest and Trust ABL

JCR Assigned AA- to Sylph Limited Series 60213

Kitagami, The Hokkoku Bank: Second Opinion on Positive Impact Finance

Feb. 25, 2025

JCR Upgraded Long-term Issuer Rating on Soken Chemical & Engineering to BBB+/Stable

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

JCR Affirmed A+/Stable and J-1 on J. FRONT RETAILING

JCR Affirmed A+/Stable and J-1 on NH Foods

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

JCR Assigned AA- Rating to Sylph Limited Series 50923

ENBIO HOLDINGS: Assigned Green Loan Framework Evaluation: Green 1(F)

Sankyo Tateyama: Second Party Opinion on Sustainability Linked Loan

JAPAN PARKING MAINTENANCE, The Nanto Bank: Second Opinion on Positive Impact Finance

Houboku, THE BANK OF FUKUOKA: Second Opinion on Positive Impact Finance

Feb. 21, 2025

JCR Affirmed A/Stable and J-1 on Sumitomo Riko

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

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

JCR Assigned A Rating to Bonds of KANEMATSU

JCR Assigned AA- Rating to Bonds of TAISEI

JCR Assigned AA Rating to Bonds of Hankyu Hanshin HD

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

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

JCR Removed Credit Monitor; Downgraded eDirect Trust NF1 to A-

JCR Removed Credit Monitor; Downgraded eDirect Trust NF2 to A-

JCR Removed CM; Downgraded Ganymede Limited Series 2023-83 to A-

Feb. 20, 2025

JCR's Rating Review of 3 Major Shipping Companies

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

JCR Affirmed A/Stable and J-1 on TOYOBO

JCR Affirmed A+/Stable and J-1 on JA MITSUI LEASING

JCR Affirmed AA-/Stable Long-term Issuer Rating on Kyodo Housing Loan

JCR Assigned AA- Rating to Bonds of JERA

JCR Assigned AA- Rating to Bonds of Hokkaido Electric Power

JCR Assigned AA- Rating to Bonds of NIPPON SANSO HD

JCR Assigned AA- Rating to Bonds of Mitsui Chemicals

JCR Assigned A Rating to Bonds of AEON Financial Service

JCR Assigned AAA Rating to Bonds of Central Nippon Expressway

JCR Assigned AA to Libra A Limited Series C095

[ Asset Securitization Products ] JCR Assigned AAA to obbligato 202502 Senior Beneficial Interest and ABL

EXEO Group, Sumitomo Mitsui Banking: Second Party Opinion on Sustainability Linked Loan

MARINE LINER, The Shoko Chukin Bank: Second Opinion on Positive Impact Finance

Chibahigashi Kensetsu(Build) Corporation, The Chiba Bank: Second Opinion on Positive Impact Finance

Feb. 19, 2025

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

JCR Affirmed AA- on Jointly Operated Designated Money Trust LY Over 1Y

[ Asset Securitization Products ] JCR Assigned J-3 to Narasaki Stax Accounts Receivable ABL 25-02

[ Asset Securitization Products ] JCR Assigned Preliminary J-1 to Aso Shoji Bills Receivable ABL 25-02

JCR Assigned A to SPIRE SA Series 2025-198

JCR Assigned AA- Rating to Sylph Limited Series 50919

JCR Assigned AA- Rating to Sylph Limited Series 50920

CRE Logistics REIT: Reviewed Green Finance Framework Evaluation: Green 1(F)

HIRAIGIKEN KOGYO, The Juhachi-Shinwa Bank: Second Opinion on Positive Impact Finance

Feb. 18, 2025

JCR Removed Credit Monitor; Downgraded Rating on NISSAN MOTOR to A-; Placed Stable Outlook

JCR Removed Credit Monitor; Downgraded Rating on NISSAN FINANCIAL SERVICES to A-; Placed Stable Outlook

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

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

JCR Affirmed A+/Stable and J-1 on Sumitomo Bakelite

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

JCR Assigned AA- to Zafferano Limited Series 2025-2

[ Asset Securitization Products ] JCR Affirmed J-1+ on ABCP Programs of Super Trust 1 through 20, LLCs

[ Asset Securitization Products ] JCR Affirmed J-1+ on 3rd Trust Beneficial Interest

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

Feb. 17, 2025

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

JCR Affirmed AA-/Stable Long-term Issuer Rating on DHLCF GK

JCR Affirmed A-/Stable Long-term Issuer Rating on Yasuda Logistics

JCR Affirmed A-/Stable Long-term Issuer Rating on Nippon Paper Industries

C.E.Management Integrated Laboratory, The Hachijuni Bank: Second Opinion on Positive Impact Finance

AlbaLink, The Hokuriku Bank: Second Opinion on Positive Impact Finance

Feb. 14, 2025

JCR Upgraded Long-term Issuer Rating on Daiwa Securities Living Investment Corporation to AA/Stable; Affirmed J-1+ on CP

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

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

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

JCR Assigned AA Rating to Bonds of Nomura Real Estate Master Fund

JCR Assigned AA- to SPIRE SA Series 2025-136

kobayashilease, The Yamanashi Chuo Bank: Second Opinion on Positive Impact Finance

Feb. 13, 2025

TOKAI CARBON Recorded Net Loss for FY2024—No Immediate Impact on Rating, and JCR Will Pay Attention to Progress of Structural Reforms and Pace of Earnings Recovery