News Release

Oct. 25, 2024: JCR Affirmed A+/Stable and J-1 on JACCS; JCR Affirmed A+/Stable and J-1 on BOT Lease; JCR Affirmed A+/Stable and J-1 on Orient Corporation and Orico Product Finance; Affirmed J-1 on Orico Auto Leasing; JCR Affirmed AA-/Stable and J-1+ on MIZUHO Leasing, Mizuho-Toshiba Leasing and Mizuho Marubeni Leasing; JCR Assigned AA Rating to Bonds of Sekisui House Reit; JCR Assigned A Rating to Bonds of Anicom HD; JCR Assigned AAA Rating to Bonds of NTT FINANCE; JCR Assigned Preliminary BBB+ Rating to Bonds of Daiwa Securities Group; [ Asset Securitization Products ] JCR Assigned AAA and A to Trust Contract No. 220243

Oct. 24, 2024: JCR Affirmed A-/Positive and J-1 on IHI; JCR Affirmed A/Stable Long-term Issuer Rating on Kawasaki Heavy Industries; JCR Affirmed A/Stable and J-1 on GUNZE; Change in CP Maximum Amount; JCR Affirmed A-/Stable and J-1 on KPP GROUP HD; JCR Affirmed A+/Stable and J-1 on Denka; JCR Assigned AA- Rating to Bonds of Japan Excellent; JCR Assigned AA to Libra A Limited Series C093

Oct. 23, 2024: JCR Affirmed AA/Stable Long-term Issuer Rating on ASAHI KASEI; JCR Affirmed AA-/Stable Long-term Issuer Rating on Kimitsu Cooperative Thermal Power Company; JCR Assigned AAA Rating to Bonds of Japan Student Services Organization; JCR Affirmed AAA/Stable Long-term Issuer Rating on African Development Bank; Assigned AAA to Bonds; [ Asset Securitization Products ] JCR Assigned J-3 to Narasaki Stax Accounts Receivable ABL 24-10; [ Asset Securitization Products ] JCR Affirmed J-1 on Medical Treatment Fees Receivable ABL Program (Seiwakai Medical Corporation, Ishii Hospital); [ Asset Securitization Products ] JCR Assigned Preliminary J-1 to Aso Shoji Bills Receivable ABL 24-10; JCR Assigned A- Rating to SPIRE SA Series 2024-400; JCR Assigned A- Rating to SPIRE SA Series 2024-401; Establishment of Green Equity Evaluation Methodology for Real estate investment corporation

Oct. 22, 2024: JCR Assigned A-/Stable Long-term Issuer Rating to ShinMaywa Industries; JCR Upgraded Long-term Issuer Rating on AOKI HD to A/Stable; JCR Upgraded Long-term Issuer Rating on TSUKISHIMA HD to A/Stable; JCR Affirmed AA/Stable Long-term Issuer Rating on SONY GROUP; JCR Affirmed BBB+/Stable and J-2 on DAIHO; JCR Affirmed A+/Stable Long-term Issuer Rating on Nagoya Railroad; JCR Affirmed AAA/Stable and J-1+ on NTT TC Leasing; JCR Affirmed AA/Stable Long-term Issuer Rating on Mitsui Fudosan Private REIT; JCR Affirmed A- on JRE Mega Solar Project Bond Trust 1 Class A Beneficial Interest and Class A Trust ABL; JCR Affirmed A on JRE Mega Solar Project Bond Trust 1 Class B Beneficial Interest and Class B Trust ABL; JCR Affirmed BBB+ on JRE Mega Solar Project Bond Trust 1 Class C Beneficial Interest; JCR Affirmed A on JRE Mega Solar Project Bond Trust 2 Beneficial Interest; Japan: Assigned Climate Transition Bond Evaluation: Green 1(T); Luup Fleet Management 2 LLC: Assigned Green Loan Evaluation: Green 1

Oct. 21, 2024: JCR Upgraded Long-term Issuer Rating on Daiwa Hotel Private Investment Corporation to A/Stable; JCR Affirmed A and J-1 on TSUBAKIMOTO CHAIN; Revised Outlook to Positive; JCR Affirmed J-2 Rating on CP of TOKYO ELECTRON DEVICE; JCR Affirmed AA/Stable and J-1+ on Mitsubishi Logistics; JCR Affirmed AA-/Stable (FC/LC) on Frasers Property; JCR Affirmed A+/Stable FC Long-term Issuer Rating on GAW Capital Partners; JCR Affirmed BBB+/Stable (FC/LC) on Canter Fizgerald, BGC Group and NEWMARK GROUP; EXEO Group: Second Party Opinion on Sustainability Linked Finance Framework (Review); EXEO Group: Second Party Opinion on Sustainability Linked Loan

Oct. 18, 2024: JCR Removed Credit Monitor; Affirmed B on Energy Absolute; Placed Negative Outlook; JCR Affirmed AA/Stable Long-term Issuer Rating on Resona HD, Resona Bank, Saitama Resona Bank, Kansai Mirai Bank and MINATO BANK; and J-1+ on Kansai Mirai Bank; JCR Affirmed A-/Stable Long-term Issuer Rating on San ju San Financial Group and San ju San Bank; JCR Assigned A Rating to Bonds of HANWA; JCR Assigned AA- Rating to Bonds of Sumitomo Mitsui Auto Service; JCR Assigned A Rating to Bonds of Sumitomo Mitsui Trust Group; JCR Assigned AA Rating to Bonds of Mitsubishi HC Capital; JCR Assigned A Rating to Bonds of Canadian Solar Infrastructure Fund; JCR Assigned AA Rating to Bonds of Electricite de France S.A.; JCR Assigned A Rating to Subordinated Loan of Fuyo General Lease; [ Asset Securitization Products ] JCR Assigned J-1 to Medical Treatment Fees Receivable ABL 24-10 (D Hospital); Joint Green Bond issuers(Local Governments): Assigned Green 1(Preliminary) to Joint Local Government Green Bond 3rd

Oct. 17, 2024: JCR Assigned A+ Rating to Bonds of ISUZU MOTORS; JCR Assigned AAA Rating to Bonds of Metropolitan Expressway; JCR Withdraws BBB Long-term Issuer Rating on Adaro Energy Indonesia; Daiwa House REIT Investment Corporation: Assigned Sustainability Loan Preliminary Evaluation: SU 1; Daiwa House REIT Investment Corporation: Reviewed Green Finance Framework Evaluation: Green 1(F); Daiwa House REIT Investment Corporation: Reviewed Sustainability Finance Framework Evaluation: SU 1(F); Canadian Solar Infrastructure Fund: Reviewed Green Finance Framework Evaluation: Green 1(F)