News Release

Jan. 21, 2022

JCR Assigned A- Rating to Bonds (Tier 1 with loss absorption clause) of Sumitomo Mitsui Financial Group

JCR Assigned A Rating to Bonds of One REIT

[ Asset Securitization Products ] JCR Assigned A+ to Ganymede Limited Series 2021-180

[ Asset Securitization Products ] JCR Assigned J-3 to Narasaki Stax Accounts Receivable ABL 22-01

[ Asset Securitization Products ] JCR Assigned Preliminary J-1 to Aso Shoji Bills Receivable ABL 22-01

Jan. 20, 2022

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

JCR Assigned BBB+ Rating to Subordinated Bonds of SoftBank Group

JCR Assigned AA- Rating to Bonds of Kenedix Retail REIT

[ Asset Securitization Products ] JCR Upgraded 1st Loan and 2nd Loan to A- and Assigned A- to 3rd Loan for ABL 20-09

[ Asset Securitization Products ] JCR Assigned AA- to Elva Funding PLC Series 2022-01

Highlights of Online Securities Companies' Financial Results for Period from April to September 2021

JCR Assigned Green 1(T)(F) to Green/Transition Bond Framework Issued by JFE Holdings

JCR Reviewed a Third Party Opinion on Transition Linked Finance Framework of Kawasaki Kisen

Jan. 19, 2022

EDF Revised its Nuclear Output Projection. Government Postponed Portion of the 2022 Tariff Increase - Limited Impact on the Rating Currently But JCR Will Materialize the Measures Taken by EDF

JCR Affirmed BBB/Stable Long-term Issuer Rating on Oenon HD

JCR Affirmed AA-/Stable and J-1+ on Sumitomo Warehouse

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

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

Jan. 18, 2022

JCR's Rating Review of 3 Major Shipping Companies

JCR Affirmed A Long-term Issuer Rating on SCSK; Revised Outlook to Positive

JCR Affirmed A Long-term Issuer Rating on SQUARE ENIX HD; Revised Outlook to Positive

JCR Affirmed A/Stable and J-1 on Ube Industries

JCR Affirmed A+/Stable and J-1 on Sumitomo Rubber Industries; Assigned Preliminary A+ to Shelf Registration

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

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

JCR Affirmed AAA/Stable Long-term Issuer Rating on TOYOTA MOTOR

JCR Affirmed AAA/Stable Long-term Issuer Rating on TOYOTA FINANCE

JCR Affirmed AA/Stable and J-1+ on Mitsubishi HC Capital; Assigned AA to Bonds

JCR Assigned AA- Rating to Bonds of Daiwa Securities Living Investment Corporation

[ Asset Securitization Products ] JCR Assigned Preliminary AAA, Preliminary A and Preliminary A- to Beneficial Interest 202201

Jan. 17, 2022

JCR Downgraded Rating on UNIZO Holdings to #BB/Negative; Maintains Credit Monitor

JCR Affirmed AAA/Stable (FC/LC) on United States of America

JCR Affirmed AA/Stable Long-term Issuer Rating on MORI TRUST Sogo Reit

[ Asset Securitization Products ] JCR Assigned Preliminary J-1 to BANK OF FUKUOKA C Corporation Bills & Electronically Recorded Receivable ABL 22-01

Jan. 14, 2022

JCR Assigned AAA/Stable Long-term Issuer Rating to The National University Corporation University of Tsukuba

JCR Upgraded Long-term Issuer Rating on DAIDO FIRE & MARINE INSURANCE to A-/Stable

JCR Affirmed A/Stable and J-1 on Keihan HD

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

JCR Affirmed BBB/Stable Long-term Issuer Rating on TAMURA

JCR Affirmed AA-/Stable Long-term Issuer Rating on Fukuoka Kogyo Daigaku

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

JCR Affirmed AAA/Stable Long-term Issuer Rating on Japan Student Services Organization; Assigned AAA to Bonds

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

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

JCR Assigned AA Rating to Bonds of ORIENTAL LAND

JCR Assigned AA+ Rating to Bonds of Electric Power Development

JCR Assigned AA- Rating to Bonds of Kyushu Electric Power

JCR Assigned AA Rating to Bonds of Chugoku Electric Power

JCR Assigned AA Rating to Bonds of Tohoku Electric Power

JCR Assigned AAA Rating to Bonds of Development Bank of Japan

JCR Assigned AAA Rating to Bonds of East Nippon Expressway

JCR Assigned A- Rating to Bonds of Orient Corporation

JCR Assigned Green 1 to the Green Bonds Issued by Orient Corporation

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

Jan. 13, 2022

JCR Upgraded Long-term Issuer Rating on YAMAZEN to A/Stable

JCR Affirmed A/Stable and J-1 on Sumitomo Osaka Cement

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

JCR Affirmed A+/Stable and J-1 on DOWA HD

JCR Assigned AA- Rating to Bonds of JERA

[ Asset Securitization Products ] JCR Assigned A+ to Ganymede Limited Series 2021-179

Jan. 12, 2022

JCR Affirmed AA/Stable Long-term Issuer Rating on ORIENTAL LAND

Jan. 11, 2022

JCR Assigned AA/Stable Long-term Issuer Rating to Sompo Warranty

JCR Upgraded FC Long-term Issuer Rating on KKR & Co. to AA-/Stable
JCR Upgraded Rating on Bonds of KKR Group Finance Co. IV to AA-

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

JCR Assigned Preliminary BBB+ Rating to Bonds of ASAHI PRINTING

JCR Assigned Green 1 (Preliminary Evaluation) to Bonds of Asahi Printing

JCR Assigned Green 1(F) to Green Bond Framework of Asahi Printing

Jan. 07, 2022

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

Jan. 05, 2022

[ Asset Securitization Products ] JCR Assigned A- to Cypher Limited Series 504

Dec. 29, 2021

OUTSOURCING Announces Investigation Report on Inappropriate Accounting - Limited Impact on Rating, but JCR Will Watch Progress in Preventive Measures, etc.

JCR Assigned Preliminary A Rating to Shelf Registration of ES-CON JAPAN

JCR Affirmed BBB+ on Sylph Limited Series 10131, 10144 and 10150

JCR Assigned BBB+ Rating to Cypher Limited Series 10029

[ Asset Securitization Products ] JCR Assigned J-1 to Aso Shoji Bills Receivable ABL 21-12

[ Asset Securitization Products ] JCR Assigned J-1 to BANK OF FUKUOKA C Corporation Bills & Electronically Recorded Receivable ABL 21-12

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

Dec. 28, 2021

JCR Upgraded Long-term Issuer Rating on AIFUL to BBB/Stable

JCR Affirmed A-/Stable Long-term Issuer Rating on PACIFIC INDUSTRIAL

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Treatment Fees Receivable ABL 21-12 (D Hospital)

[ Asset Securitization Products ] JCR Assigned J-1+ to Hokuriku Bank A Corporation Bills & Electronically Recorded Receivables ABL 21-12

JCR Assigned AA- to Securitization of Leases Receivable from SB 202112

JCR Assigned AA- to Securitization of Loans Receivable from SB 202112

Dec. 27, 2021

JCR Upgraded Long-term Issuer Rating on ITOCHU Advance Logistics Investment Corporation to AA-/Stable

JCR Affirmed A- Rating on Maruzen Showa Unyu; Revised Outlook to Positive

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

JCR Reviewed Central Nippon Expressway the 16th U.S. Dollar-denominated Corporate Bonds (Climate Resilience Bonds)

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

JCR Provided a Third Party Opinion to Positive Impact Finance Provided by Sumitomo Mitsui Trust Bank to FP CORPORATION

Dec. 24, 2021

JCR Upgraded Long-term Issuer Rating on Senshu Ikeda Bank to A/Stable

JCR Affirmed A- Rating on SHIMIZU BANK; Revised Outlook to Positive

Increase in CP Maximum Amount of KUREHA; JCR Affirmed J-1

JCR Affirmed BBB-/Negative Long-term Issuer Rating on Toyoko Inn

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

[ Asset Securitization Products ] JCR Affirmed AA- on SPIRE SA Series 2020-269

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

JCR Provided a Third Party Opinion to Positive Impact Finance Provided by Sumitomo Mitsui Trust Bank to ORIX JREIT

JCR Provided a Third Party Opinion to Positive Impact Finance provided by the Hyakugo Bank to Mitsuibau Material

JCR Provided a Third Party Opinion to the Positive Impact framework of the Hyakugo Bank

JCR Withdraws A-/Stable Long-term Issuer Rating on Sangetsu

Dec. 23, 2021

JCR Affirmed AA/Stable and J-1+ on Sumitomo Electric Industries