News Release

Dec. 15, 2022

[ Asset Securitization Products ] JCR Affirmed AA- on Ascent Finance Limited Series 2021-1023

[ Asset Securitization Products ] JCR Assigned Preliminary J-1 to BANK OF FUKUOKA C Corporation Bills & Electronically Recorded Receivable ABL 22-12

JCR Assigned Preliminary AA- to Securitization of Leases Receivable from SB 202212

JCR Assigned Preliminary AA- to Securitization of Loans Receivable from SB 202212

JCR Provided a Third Party Opinion to Positive Impact Assessment Provided by Sumitomo Mitsui Trust Bank to Hitachi Construction Machinery

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

Dec. 14, 2022

JCR Affirmed A+ Long-term Issuer Rating on AKITA BANK; Revised Outlook to Negative

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

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

[ Asset Securitization Products ] JCR Affirmed A on Ganymede Limited Series 2021-122

JCR Affirmed A+ on Ganymede Limited Series 2021-166

JCR Provided a Third Party Opinion to Sustainability Linked Finance Framework of EXEO Group

JCR Provided a Third Party Opinion on Sustainability Linked Loan to EXEO Group Conducted by Syndicated Loan Group (Arranger / Agent: Sumitomo Mitsui Trust Bank)

JCR Provided a Third Party Opinion on Sustainability Linked Loan Conducted by Sumitomo Mitsui Banking to EXEO Group

JCR Provided a Third Party Opinion to Positive Impact Finance Provided by The Shoko Chukin Bank to KANSAI TRANS WAY

JCR Provided a Third Party Opinion to Sustainability Linked Loan Framework of Ajinomoto Co., Inc.

Dec. 13, 2022

JCR Assigned A-/Stable Long-term Issuer Rating to marimo Regional Revitalization REIT

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

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

JCR Affirmed A-/Stable Long-term Issuer Rating on Southern TOHOKU Research Institute for Neuroscience

JCR Assigned A+ Rating to Bonds (Tier 2 with loss absorption clause) of Sumitomo Mitsui Trust HD

JCR Assigned AA Rating to Bonds of Activia Properties

JCR Affirmed J-1 on Proposed Dividend Type Jointly-Management Designated Money Trust (SoftBank Group) Beneficial Interest Program

JCR Assigned SU 1(F) to Sustainability Bond Framework of Tohoku University

Dec. 12, 2022

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

JCR Affirmed A FC Long-term Issuer Rating on Lotte Shopping; Revised Outlook to Stable

JCR Affirmed A/Stable and J-1 on NIPPN

JCR Affirmed AA/Stable Long-term Issuer Rating on NISSHIN SEIFUN GROUP

JCR Affirmed A-/Stable and J-1 on Showa Sangyo

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

[ Asset Securitization Products ] JCR Affirmed J-1+ on Monthly Clear Receivables 20 ABCP Programs(Super Trust 1 through 20, LLCs)

JCR Assigned BBB+ to Clean Energy Connect Non-FIT Low-voltage Solar Power Plant Green Project Bond Trust Trust ABL

JCR Assigned Green 1 to Clean Energy Connect Non-FIT Low-voltage Solar Power Plant Green Project Bond Trust Trust ABL

JCR Provided a Third Party Opinion to Sustainability Linked Finance Framework and Assigned Green 1(F) to Green Finance Framework of JA MITSUI LEASING

JCR Provided a Third Party Opinion to Positive Impact Assessment Provided by Sumitomo Mitsui Trust Bank to LOTTE

Dec. 09, 2022

JCR Assigned A+/Stable FC Long-term Issuer Rating to Lotte Chemical Corporation

JCR Affirmed BBB-/Stable FC Long-term Issuer Rating on Moya Holdings Asia

JCR Affirmed AA/Stable and J-1+ on Sumitomo Mitsui Finance and Leasing

Change in CP Maximum Amount of Sumitomo Mitsui Trust Loan & Finance; Affirmed J-1+

JCR Assigned A Rating to Subordinated Bonds of JERA

JCR Assigned AA Rating to Bonds of TOYOTA BOSHOKU

JCR Assigned A+ Rating to Bonds of Nagoya Railroad

JCR Assigned AA- Rating to Bonds of Hankyu Hanshin HD

JCR Assigned A- Rating to Subordinated Bonds of Fuyo General Lease

JCR Assigned A Rating to Bonds of Samty Residential Investment Corporation

JCR Assigned AA Rating to Bonds of Industrial & Infrastructure Fund Investment Corporation

JCR Assigned AA Rating to Bonds of Daiwa House REIT Investment Corporation

JCR Assigned Preliminary A- Rating to Shelf Registration of IHI

JCR Affirmed BBB+ on TRIBAY Low Voltage Solar Power Green Project Bond Trust Trust ABL

JCR Assigned Social 1(F) to Social Finance Framework of Daiwa ACA・Health Care Investment Limited Partnership

JCR Assigned SU 1(F) to Sustainability Finance Framework of RICOH LEASING

Dec. 08, 2022

JCR Upgraded Long-term Issuer Rating on Shinkin Guarantee Fund to AA-/Stable

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

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

JCR Assigned AAA Rating to Bonds of African Development Bank

JCR Provided a Third Party Opinion to Positive Impact Finance Provided by The Hachijuni Bank to Mealcare

Dec. 07, 2022

JCR Affirmed J-1 Rating on CP of T&D Lease

JCR Assigned A+ Rating to Bonds of THK

JCR Assigned AA Rating to Bonds of Tohoku Electric Power

JCR Assigned BBB+ Rating to Bonds of AIFUL

JCR Assigned AAA Rating to Bonds of Central Nippon Expressway

JCR Assigned Preliminary AA Rating to Shelf Registration of Seven & i HD

Dec. 06, 2022

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

JCR Assigned AA- Rating to Bonds of HEIWA REAL ESTATE REIT

Dec. 05, 2022

Chugoku Electric Power Revised Forecasts of Financial Results for FY Ending March 2023 - No Immediate Impact on Rating, but Downward Pressure Will Strengthen

JCR Upgraded Long-term Issuer Rating on T&D Insurance Group to AA/Stable

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

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

Dec. 02, 2022

JCR Assigned A-/Stable Long-term Issuer Rating to GMO internet group

JCR Upgraded Long-term Issuer Rating on Nishi-Nippon Financial HD to A+/Stable
JCR Upgraded Long-term Issuer Rating on NISHI-NIPPON CITY BANK to A+/Stable

JCR Upgraded Long-term Issuer Rating on KYUSHU LEASING SERVICE to A/Stable

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

JCR Assigned BBB+ Rating to Bonds of Kintetsu Group HD

JCR Assigned AA- Rating to Bonds of SAIBU GAS HD

JCR Assigned AA Rating to Bonds of SONY GROUP

JCR Assigned A Rating to Bonds of Morinaga

JCR Assigned A- Rating to Bonds of Renault

JCR Assigned A Rating to Bonds of Rakuten Card

JCR Assigned AA+ Rating to Bonds of NEW KANSAI INTERNATIONAL AIRPORT

JCR Assigned AAA Rating to Bonds of West Nippon Expressway

Dec. 01, 2022

Revision of "Rating Methodology for Assessment of Hybrid Securities' Equity Content"

Revisions to Equity Content Assessments Associated with Revision of "Rating Methodology for Assessment of Hybrid Securities' Equity Content"

JCR Affirmed BBB+ Long-term Issuer Rating on Starzen; Revised Outlook to Positive

JCR Affirmed BBB/Stable Long-term Issuer Rating on Mitsubishi Steel Mfg.

JCR Assigned AA Rating to Bonds of ASAHI KASEI

JCR Assigned A- Rating to Bonds of SoftBank Group

JCR Assigned AA+ Rating to Bonds of Electric Power Development

JCR Assigned Preliminary AA Rating to Shelf Registration of Keio

Nov. 30, 2022

JCR Assigned A-/Stable Long-term Issuer Rating to KPP GROUP HD; Affirmed J-1 on CP

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

JCR Affirmed A/Stable Long-term Issuer Rating on FIRST BANK OF TOYAMA

JCR Assigned AA- Rating to Bonds of TOKYU

Highlights of Electric Power Companies' Financial Results for Second Quarter of Fiscal Year Ending March 2023

JCR Affirmed A on Daiwa Green Finance Program Beneficial Interest and Trust ABL (Iwamizawa and Kushiro Solar Power Plants)

[ Asset Securitization Products ] JCR Assigned BBB- and BB+ to ABL 22-03 Senior and Junior Mezzanine Loan

[ Asset Securitization Products ] JCR Assigned J-1+ to Hokuriku Bank A Corporation Bills & Electronically Recorded Receivables ABL 22-11

JCR Provided a Third Party Opinion to Positive Impact Finance Provided by The Bank of Kyoto to NISHIMURA MFG.

JCR Provided a Third Party Opinion to Positive Impact Finance Provided by 33 Bank to Tsuji Oil Mills

JCR Provided a Third Party Opinion to Positive Impact Finance Provided by The Senshu Ikeda Bank to KISHIKO TECH

JCR Provided a Third Party Opinion to Positive Impact Finance Provided by The Joyo Bank to TAKANO KOGYO