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Mar. 02, 2023: JCR Affirmed A-/Stable Long-term Issuer Rating on KANEMATSU; JCR Affirmed A+/Stable Long-term Issuer Rating on SUNDRUG; JCR Affirmed AA-/Stable Long-term Issuer Rating on Nissan Chemical; JCR Affirmed A+/Stable and J-1 on Pan Pacific International HD; JCR Affirmed A-/Stable and J-1 on MITSUBISHI MATERIALS; JCR Affirmed A+/Stable Long-term Issuer Rating on UCS; JCR Assigned AA- Rating to Bonds of Asahi Group HD; JCR Assigned A Rating to Subordinated Bonds of Suntory HD; JCR Assigned A+ Rating to Bonds of JA MITSUI LEASING

Mar. 01, 2023: JCR Affirmed AA/Stable Long-term Issuer Rating on Kanagawa University; JCR Affirmed AA/Stable Long-term Issuer Rating on Sompo Warranty; JCR Affirmed BB+/Stable Long-term Issuer Rating on Namura Shipbuilding; JCR Affirmed A+/Stable and J-1 on JGC HD; JCR Affirmed A+/Stable Long-term Issuer Rating on Yokogawa Electric; JCR Assigned A- Rating to Bonds of GMO internet group; JCR Assigned A+ Rating to Bonds of NSK; JCR Assigned A+ Rating to Bonds (Tier 2 with loss absorption clause) of Sumitomo Mitsui Financial Group; JCR Assigned AA- Rating to Bonds of Comforia Residential REIT; [ Asset Securitization Products ] JCR Assigned Preliminary AAA to unus202303 Beneficial Interest for Receivables; JCR Assigned Green 1 (T)(F) and Provided a Third Party Opinion on suitability for the Sustainability-Linked Loan Principles to Transition Loans and Transition Linked Loan Framework of Japan Airlines

Feb. 28, 2023: JCR Upgraded Long-term Issuer Rating on FUJI to A/Stable; JCR Affirmed A/Stable Long-term Issuer Rating on AEON Mall; JCR Upgraded Long-term Issuer Rating on AEON KYUSHU to A/Stable; Affirmed J-1 on CP; JCR Affirmed A/Stable and J-1 on AEON Financial Service; JCR Upgraded Long-term Issuer Rating on AEON Product Finance to A/Stable; Affirmed J-1 on CP; JCR Upgraded Long-term Issuer Rating on AEON Housing Loan Service to A/Stable; Affirmed J-1 on CP; JCR Upgraded Foreign Currency Long-term Issuer Rating on AEON Thana Sinsap (Thailand) to A/Stable; JCR Affirmed A/Stable Long-term Issuer Rating on United Super Markets Holdings; JCR Affirmed BBB-/Stable Long-term Issuer Rating on HOWA BANK; JCR Affirmed AA/Stable Long-term Issuer Rating on DREAM Private REIT; JCR Assigned A+ Rating to Bonds of Orient Corporation; JCR Assigned A+ Rating to Bonds of Fuyo General Lease; JCR Assigned AA- Rating to Bonds (with no financial covenants) of Mitsubishi UFJ Financial Group; JCR Assigned Preliminary AA- Rating to Shelf Registration of NGK SPARK PLUG; [ Asset Securitization Products ] JCR Assigned AAA to obbligato 202302 Senior Beneficial Interest; JCR Provided a Third Party Opinion to Positive Impact Finance Provided by The Joyo Bank to Saza Coffee Holdings; JCR Provided a Third Party Opinion to Positive Impact Finance Provided by Mizuho Bank to Ichigo; JCR Provided a Third Party Opinion to Positive Impact Finance Provided by The Shoko Chukin Bank to OBAYASHI Chemical; JCR Provided a Third Party Opinion to Positive Impact Finance Provided by The Shoko Chukin Bank to Kansai Saisigen Network; JCR Provided a Third Party Opinion to Positive Impact Finance Provided by The Shoko Chukin Bank to Toyoda Denken; JCR Provided a Third Party Opinion to Positive Impact Finance Provided by THE SHIMIZU BANK to TWO-ONE PROMOTION; JCR Provided a Third Party Opinion to Positive Impact Finance Provided by THE SHIMIZU BANK to AKIYAMA MACHINERY; JCR Provided a Third Party Opinion to Positive Impact Finance Provided by THE SHIMIZU BANK to AONO; JCR Provided a Third Party Opinion to Positive Impact Finance Provided by THE SHIMIZU BANK to Tsurumi Paper; JCR Provided a Third Party Opinion to Positive Impact Finance Provided by THE SHIMIZU BANK to Toshin Shiko; JCR Provided a Third Party Opinion to Positive Impact Finance Provided by The Chiba Bank to Chibayaku Groceries; JCR Provided a Third Party Opinion to Positive Impact Finance Provided by The Senshu Ikeda Bank to Kahei; JCR Provided a Third Party Opinion to Positive Impact Finance Provided by Sumitomo Mitsui Trust Bank to IHI; JCR Provided a Third Party Opinion to the conformity of Kawasaki City ESG Finance Model Project with Positive Impact Finance Principle Provided by The Bank of Yokohama to KYOWA SYOKAI; JCR Provided a Third Party Opinion to the conformity of Kawasaki City ESG Finance Model Project with Positive Impact Finance Principle Provided by Kawasaki Shinkin Bank to Okamura Kenkoh; JCR Provided a Third Party Opinion on Sustainability Linked Loan Conducted by MUFG Bank to Mitsuboshi Belting; JCR Provided a Third Party Opinion on Sustainability Linked Loans Conducted by THE HOKURIKU BANK to HEIWA REAL ESTATE; JCR Assigned Green 1(F) to Green Bond Framework of Kochi Prefecture