News Release

Jun. 11, 2021

JCR Assigned BBB+ Rating to Bonds of Starzen

JCR Assigned Preliminary A+ Rating to Shelf Registration of THK

JCR Assigned Preliminary AA- Rating to Shelf Registration of Coca-Cola Bottlers Japan Holdings

[ Asset Securitization Products ] JCR Assigned Preliminary J-1 to BANK OF FUKUOKA C Corporation Bills & Electronically Recorded Receivable ABL 21-06

Jun. 10, 2021

JCR Assigned A Rating to Bonds of HIKARI TSUSHIN

JCR Affirmed BB+/Negative and J-3 on Nippon Sheet Glass

JCR Affirmed AA-/Stable, AA- and J-1+ on JCB

JCR Affirmed BBB+/Stable on Cantor Fitzgerald (FC/LC), BGC Partners (FC/LC) and NEWMARK GROUP(FC)

Jun. 09, 2021

JCR Assigned A Rating to Subordinated Bonds of ENEOS Holdings

JCR Assigned AA Rating to Bonds of Tohoku Electric Power

JCR Assigned A+ Rating to Bonds of Mitsui Chemicals

JCR Assigned A- Rating to Bonds of SEIBU HOLDINGS

JCR Assigned Green 1 (Final Evaluation) to 5th Series Unsecured Straight Bond Issued by SEIBU HOLDINGS

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

Jun. 08, 2021

JCR Assigned A- Rating to Bonds (Tier 1 with loss absorption clause) of Nomura Holdings

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

JCR Affirmed BBB on Neon Capital Limited Series 781

[ Asset Securitization Products ] JCR Affirmed AA- on Cypher Limited Series 439

[ Asset Securitization Products ] JCR Affirmed A- on Earls Eight Limited Series 772

[ Asset Securitization Products ] JCR Affirmed A- on Earls Eight Limited Series 773

Jun. 07, 2021

JCR Affirmed J-2 Rating on CP of KYOKUYO

Highlights of Major General Chemical Manufacturers' Financial Results for Fiscal Year Ended March 2021

Highlights of Major Milling Companies' Financial Results for Fiscal Year Ended March 2021

Jun. 04, 2021

JCR Assigned A/Stable Long-term Issuer Rating to JINUSHI PRIVATE REIT

JCR Assigned A Rating to Subordinated Bonds of JFE Holdings

JCR Assigned A Rating to Bonds of Japan Airlines

JCR Assigned A- Rating to Bonds of KYOEI STEEL

JCR Assigned A- Rating to Bonds of Kobe Steel

JCR Assigned AA- Rating to Bonds of Kyushu Electric Power

JCR Affirmed J-1+ Rating on CP of Kansai Electric Power; Increase in CP Maximum Amount

[ Asset Securitization Products ] JCR Assigned Preliminary A to ABL 21-06

Highlights of Major General Construction Companies' Financial Results for Fiscal Year Ended March 2021

Highlights of Major Cement Companies' Financial Results for Fiscal Year Ended March 2021

Jun. 03, 2021

JCR Assigned BBB Rating to Subordinated Bonds of SoftBank Group

JCR Assigned BB+ Rating to Bonds of AIFUL

JCR Affirmed AA-/Stable, AA-, Preliminary AA- and J-1+ on Sumitomo Metal Mining; Increase in CP Maximum Amount

JCR Affirmed A+/Negative, A+ and J-1 on NIKON

JCR Affirmed AA/Stable and AA on Japan Logistics Fund

Highlights of Major Private Railroad Companies' Financial Results for Fiscal Year Ended March 2021

Highlights of Major Trucking Companies' Financial Results for Fiscal Year Ended March 2021

Jun. 02, 2021

JCR Assigned A Rating to Bonds of ANA HOLDINGS

JCR Assigned A- Rating to Bonds of JACCS

JCR Affirmed AAA/AAA (FC/LC) Ratings on France with Stable Outlook

JCR Assigned and Affirmed A+ on Notes of Man GPM US Residential Debt Fund

Highlights of Major Retail Groups' Financial Results for Fiscal Year Ended February 2021

Jun. 01, 2021

JCR Affirmed A-p Rating on Deutsche Bank; Revised Outlook from Negative to Stable

JCR Affirmed AAA Rating on United Kingdom; Revised Outlook from Negative to Stable

JCR Assigned A Rating to Bonds of SCSK

JCR Assigned AA- to Elva Funding PLC Series 2021-9

JCR Affirmed A- on Ecology Trust Bond 1st Series Fund Trust Bonds and Trust ABL

JCR Affirmed A- on Ecology Trust Bond 2nd Series Fund Trust Bonds and Trust ABL

[ Asset Securitization Products ] JCR Affirmed AAA on Class A Beneficial Interest and ABL

Highlights of Major Pharmaceutical Companies' Financial Results for Fiscal Year Ended March 2021

Highlights of Food Service Companies' Financial Results for Fiscal Year 2020

May. 31, 2021

Public Comment on revision of Sovereign Rating Methodology

JCR Assigned BB (FC/LC) Unsolicited Ratings to Turkey with Stable Outlook and Withdrew Solicited BB+ (FC/LC)

JCR Affirmed J-1+ Rating on CP of JERA; Increase in CP Maximum Amount

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

JCR Affirmed A+/Stable, A+, A-, Preliminary A+ and J-1 on Marubeni

JCR Affirmed AA-/Stable, AA- and Preliminary AA- on AEON REIT Investment Corporation

[ Asset Securitization Products ] JCR Assigned J-1+ to Hokuriku Bank A Corporation Bills & Electronically Recorded Receivables ABL 21-05

Highlights of Electric Power Companies' Financial Results for Fiscal Year Ended March 2021

JCR Withdraws J-2 Short-term Issuer Rating on MONEY PARTNERS GROUP

May. 28, 2021

JCR Upgraded Rating on Hulic Reit from AA-/Positive and AA- to AA/Stable and AA

JCR Assigned AA- Rating to Bonds of SoftBank

JCR Assigned AA- Rating to Bonds of TOKYU

JCR Assigned AA Rating to Bonds of DAIWA HOUSE INDUSTRY

JCR Assigned A+ Rating to Bonds of Mitsubishi Chemical Holdings

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

JCR Affirmed A-/Stable Long-term Issuer Rating on Shinsei Securities

JCR Affirmed A-/Stable, A- and J-1 on Shinsei Bank

JCR Affirmed AA-/Stable and AA- Rating on TOKYU REIT

Highlights of Special Steel Manufacturers' Financial Results for Fiscal Year Ended March 2021

Highlights of Oil Distributors' Financial Results for Fiscal Year Ended March 2021

[ Asset Securitization Products ] JCR Assigned BBB- to ABL 21-05

[ Asset Securitization Products ] JCR Assigned J-1 to Aso Shoji Bills Receivable ABL 21-05

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Treatment Fees Receivable ABL 21-05 (D Hospital)

[ Asset Securitization Products ] JCR Assigned J-1 to BANK OF FUKUOKA C Corporation Bills & Electronically Recorded Receivable ABL 21-05

JCR Provided a Third Party Opinion on Sustainability Linked Loans Provided by MUFG Bank to Nippon Yusen Kabushiki Kaisha (NYK Line)

May. 27, 2021

JCR Affirmed A+/Stable, A- and J-1 on Takeda Pharmaceutical

JCR Assigned A+ Rating to Bonds of Daiwa Securities Group

JCR Assigned AA- to Elva Funding PLC Series 2021-7

Highlights of Major Japanese Automakers' Financial Results for Fiscal Year Ended March 2021

May. 26, 2021

JCR Affirmed BBB Rating on Sodick; Revised Outlook from Stable to Positive

JCR Affirmed A-/Stable Long-term Issuer Rating on KYOEI STEEL

JCR Affirmed A+/Stable Long-term Issuer Rating on ROHTO PHARMACEUTICAL

JCR Assigned BBB+ to Sylph Limited Series 10144

Highlights of Major Real Estate Companies' Financial Results for Fiscal Year Ended March 2021

May. 25, 2021

JCR Downgraded Rating on KURARAY from AA/Negative and AA to AA-/Stable and AA-

JCR Upgraded Rating on Kyoei Fire and Marine Insurance from A+/Stable to AA/Stable; Affirmed J-1+ on CP

JCR Assigned A+ Rating to Bonds (Tier 2 with loss absorption clause) of Mitsubishi UFJ Financial Group

JCR Assigned AAA Rating to Bonds of Central Nippon Expressway

JCR Assigned A+ Rating to Bonds of Kenedix Residential Next Investment Corporation

JCR Assigned Preliminary A Rating to Shelf Registration of Keihan Holdings

JCR Affirmed J-1 Rating on CP of DOWA HOLDING; Increase in CP Maximum Amount

JCR Affirmed A/Stable and A on OKAMURA

May. 24, 2021

JCR Upgraded Rating on KONAMI HOLDING from A/Positive, A and Preliminary A to A+/Stable, A+ and Preliminary A+

JCR Assigned Preliminary A Rating to Subordinated Loan of T&D Holdings

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

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