News Release

Jun. 25, 2021

JCR Affirmed AA+/Stable, AA- and J-1+ on Sompo Japan Insurance
JCR Upgraded Rating on SAISON AUTOMOBILE AND FIRE INSURANCE from AA/Stable to AA+/Stable

JCR Affirmed AA/Stable and A+ on MS&AD Insurance Group Holdings
JCR Affirmed AA+/Stable and J-1+ on Mitsui Sumitomo Insurance
JCR Affirmed AA+/Stable and J-1+ on Aioi Nissay Dowa Insurance

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

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

JCR Affirmed BBB/Negative (FC) and BBB+/Negative (LC) on Romania

[ Asset Securitization Products ] JCR Assigned AAA and A+ to REIT2021-001 Beneficial Interest/ABL

[ Asset Securitization Products ] JCR Affirmed A on Nomura Trust Bank No. 72 Unsecured Trust Bonds

JCR Affirmed AA- on Oxygen Capital Limited Series 112

JCR Provided a Third Party Opinion to Positive Impact Finance Provided by Shizuoka Bank to Yokohama Kankyo Corporation

JCR Provided a Third Party Opinion to the Positive Impact Framework of Mizuho Bank and Mizuho Research & Technologies

Jun. 24, 2021

JCR Considering Commencement of Fund Portfolio Rating Operations; Public Comments Solicited on Rating Methodology

JCR Affirmed AA/Stable and AA on ORIX JREIT

JCR Assigned J-1+ to Specified Money Trust Beneficial Interest 2129054

[ Asset Securitization Products ] JCR Assigned AA- and BBB- to DFC Beneficiary Interest 202106

Jun. 23, 2021

JCR Assigned AAA Rating to Bonds of African Development Bank

Highlights of Supermarket Chain Operators' Financial Results for Fiscal Year Ended February/March 2021

JCR Assigned AA- to Elva Funding PLC Series 2021-11

Jun. 22, 2021

JCR Affirmed BBB+/Stable Long-term Issuer Rating on Nippon Fine Chemical

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

[ Asset Securitization Products ] JCR Affirmed J-1 on Medical Treatment Fees Receivable ABL Program (L Hospital)

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Treatment Fees Receivable ABL 21-06 (F Hospital)

[ Asset Securitization Products ] JCR Assigned J-3 to Narasaki Stax Accounts Receivable ABL 21-06

[ Asset Securitization Products ] JCR Assigned Preliminary J-1 to Aso Shoji Bills Receivable ABL 21-06

Jun. 21, 2021

JCR Affirmed AA/Stable and AA on MORI HILLS REIT INVESTMENT CORPORATION

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

Jun. 18, 2021

Mitsubishi HC Capital's Acquisition of US Marine Container Leasing Company - No Impact on Rating

JCR Removed Credit Monitor; Downgraded Rating on H.I.S. from #BBB-/Negative to BB+; Placed Negative Outlook

JCR Assigned A Rating to Bonds of AEON Financial Service

[ Asset Securitization Products ] JCR Assigned BBB+ to ABL 21-06-02

Jun. 17, 2021

JCR Affirmed J-1 Rating on CP of Mortgage Corporation of Japan; Increase in CP Maximum Amount

JCR Affirmed A+ on Ganymede Limited Series 2020-70

JCR Affirmed A+ on Ganymede Limited Series 2020-76

Jun. 16, 2021

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

Jun. 15, 2021

JCR Assigned A- Rating to Subordinated Bonds of Nishi-Nippon Railroad

JCR Assigned AA Rating to Bonds of Japan Metropolitan Fund Investment Corporation

JCR Affirmed AA-/Stable Long-term Issuer Rating on San-in Godo Bank

Highlights of General Heavy Machinery Manufacturers' Financial Results for Fiscal Year Ended March 2021

JCR Assigned AA to SPIRE SA Series 2021-228

JCR Assigned Preliminary AA- to Securitization of Leases Receivable from SB 202106

JCR Assigned Preliminary AA- to Securitization of Loans Receivable from SB 202106

Jun. 14, 2021

JCR Assigned AA-/Stable Long-term Issuer Rating to Daiwa Residential Private Investment Corporation

JCR Affirmed A-/Stable and J-1 on SINANEN HOLDINGS

JCR Affirmed A on SGET Usa Mega Solar Power Station Project Beneficial Interest

JCR Affirmed A+ on ZEST Investments B Series 1502-B01

JCR Affirmed A+ on MASCOT II Limited Series 1501-01J

JCR Affirmed A+ on Mascot Investments Limited Series 1203-02

JCR Affirmed A+ on Mirach Limited Series 1904-03

JCR Affirmed A+ on Mirach Limited Series 2003-M02

JCR Affirmed A+ on Mirach Limited Series 2004-M01

JCR Affirmed A+ Rating on Spica Limited Series 2007-S03

JCR Affirmed A+ on Nomura Trust Bank Trust Bonds no. 203

Jun. 11, 2021

For Public Comments on Revision of Rating Methodology for Housing Loans

JCR Affirmed A+ Rating on HEIWA REAL ESTATE REIT; Revised Outlook from Stable to Positive

JCR Assigned A+ Rating to Bonds of Fuyo General Lease

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