News Release

Oct. 13, 2020

JCR Assigned A/Negative Long-term Issuer Rating to OSAKA STEEL

JCR Assigned A- Rating to Subordinated Bonds of MORI BUILDING

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

JCR Assigned Preliminary A Rating to Shelf Registration of TAIHEIYO CEMENT

JCR Affirmed A+/Positive and A+ on SONY

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

Oct. 12, 2020

JCR Upgraded Rating on Tsukishima Kikai from BBB+/Positive and BBB+ to A-/Stable and A-

JCR Assigned Preliminary A+ Rating to Shelf Registration of SUMITOMO HEAVY INDUSTRIES

JCR Assigned Preliminary BBB Rating to Shelf Registration of JALUX

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

JCR Affirmed J-2 Rating on CP of KOKUSAI PULP&PAPER

Oct. 09, 2020

JCR Assigned Green 1 to the 9th and the 10th Unsecured Bonds to be Issued by Sumitomo Warehouse

JCR Assigned AA- Rating to Bonds of Sumitomo Warehouse

JCR Assigned A to Subordinated Bonds of Asahi Group Holdings

JCR Assigned AA- Rating to Bonds of Asahi Group Holdings

JCR Assigned A Rating to Subordinated Bonds of Kyushu Electric Power

JCR Assigned A+ Rating to Bonds of Hulic

JCR Assigned A Rating to Bonds of HIROSHIMA GAS

JCR Affirmed A- and Preliminary A- on SEIBU HOLDINGS; Revised Outlook from Stable to Negative

JCR Assigned AAA Rating to Bonds of West Nippon Expressway

JCR Assigned AAA Rating to Bonds of Development Bank of Japan

JCR Assigned Preliminary BBB+ to FAM Reliant Energy Bond 2020_1 Beneficial Interest and Trust ABL

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

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

JCR Affirmed A/Stable and A on AICHI STEEL

JCR Affirmed A+/Stable Long-term Issuer Rating on Jupiter Telecommunications

JCR Affirmed J-2 Rating on CP of Yanmar Holdings

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

JCR Affirmed AA-/Stable and AA- on ORIX

[ Asset Securitization Products ] JCR Affirmed A+ on Jupiter Capital Limited Series 2018-11

JCR Affirmed A+ on Sylph Limited Series 50152, 50163, 50174 and 50208

JCR Affirmed A+ on Sylph Limited Series 50153 and 50175

JCR Affirmed AA- on JETS International Two Limited Series 61

JCR Affirmed AA- on JETS International Two Limited Series 62

JCR Affirmed AA- on JETS International Two Limited Series 71

JCR Affirmed AA- on JETS International Two Limited Series 74

JCR Affirmed AA- on JETS International Two Limited Series 76

JCR Affirmed AA- on JETS International Two Limited Series 78

JCR Affirmed AA- on JETS International Two Limited Series 84

JCR Affirmed AA on JETS International Five Limited Series 125, 144 and 240

JCR Affirmed J-1+ Rating on ABCP Program of Nexus Asset Funding

JCR Affirmed J-1+ Rating on ABCP Program of Vector Asset Funding

JCR Withdraws A+/Negative and J-1 on PARCO

Oct. 08, 2020

JCR Assigned Green 1 (Final Evaluation) to Bonds no. 5 Issued by Penta-Ocean Construction

JCR Assigned A Rating to Bonds of PENTA-OCEAN CONSTRUCTION

JCR Assigned AAA Rating to Bonds of National University Corporation, the University of Tokyo

Oct. 07, 2020

JCR Assigned Green 1 to the 2nd Public Bonds Issued by Nagano Prefecture

JCR Assigned AA Rating to Bonds of Tohoku Electric Power

JCR's Rating Review of Major Banks

JCR Affirmed AA/Stable, AA and AA- on Mitsubishi UFJ Securities Holdings
JCR Affirmed AA/Stable Long-term Issuer Rating on Mitsubishi UFJ Morgan Stanley Securities

JCR Affirmed AA/Stable, AA and J-1+ on Mizuho Securities
JCR Affirmed AA Rating on EMTN of Mizuho International
JCR Affirmed AA Rating on EMTN of Mizuho Securities USA

JCR Affirmed AA/Stable Long-term Issuer Rating on SMBC Nikko Securities

Oct. 06, 2020

JCR Affirmed A- and J-1 on Japan Atomic Power; Revised Outlook from Negative to Stable

JCR Affirmed BBB and J-2 on FURUKAWA; Revised Outlook from Positive to Stable

JCR Assigned A+ Rating to Bonds of Sumitomo Mitsui Trust Panasonic Finance

JCR Affirmed AAA/Stable Ratings and Assigned AAA Ratings to Bonds of African Development Bank

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

JCR Affirmed A/A (FC/LC) Ratings on Portugal with Stable Outlook

Oct. 05, 2020

NEC To Acquire Swiss Leading Financial Software Firm - No Immediate Impact on Rating

JCR Reviewed Bonds Issued by DAIKEN

JCR Downgraded Rating on KOBELCO CONSTRUCTION MACHINERY from A-/Negative and J-1 to BBB+/Stable and J-2

JCR Affirmed BBB and J-2 on TOKYO DOME; Revised Outlook from Stable to Negative

JCR Affirmed A- Rating on Renault; Revised Outlook from Stable to Negative

JCR Assigned Preliminary AA Rating to Shelf Registration of Tohoku Electric Power

JCR Affirmed BBB-/Stable and BBB- on Ferrotec Holdings

JCR Affirmed AA-/Positive and AA- on NIDEC

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

JCR Affirmed A/Stable, A, Preliminary A and J-1 on TSUBAKIMOTO CHAIN

JCR Affirmed A+ Ratings on Banco Santander with Stable Outlook, and A Ratings on Senior Non Preferred Bonds

JCR Affirmed AAA/Stable Ratings on Canada

JCR Assigned Preliminary BBB to Hudson Green Project Finance 2020-1 Trust Beneficial Interest and Trust ABL

Oct. 02, 2020

JCR Assigned A Rating to Bonds of TEPCO Power Grid

JCR Assigned AAA Rating to Bonds of Metropolitan Expressway

JCR Assigned Preliminary AA Rating to Shelf Registration of Chubu Electric Power

JCR Assigned Preliminary A+ Rating to Shelf Registration of Sumitomo Mitsui Trust Panasonic Finance

JCR Affirmed A-/Stable Long-term Issuer Rating on Medical Corporation KEIAIKAI

JCR Affirmed BBB+/Stable and BBB+ on Kanagawa Chuo Kotsu

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

JCR Affirmed A/Stable and A on Ichigo Office REIT Investment Corporation

JCR Affirmed AA/Stable and AA on Activia Properties

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

Oct. 01, 2020

JCR Assigned AA-/Stable Long-term Issuer Rating to Hirogin Holdings
JCR Affirmed AA-/Stable Long-term Issuer Rating on Hiroshima Bank

JCR Assigned AA+/Stable and J-1+ to NTT TC Leasing

JCR Assigned A Rating to Bonds of Yasuda Real Estate

JCR Affirmed A+/Stable Long-term Issuer Rating on YAMADA HOLDINGS

JCR Affirmed A/Stable and J-1 on Fukuoka Financial Group
JCR Affirmed A+/Stable Long-term Issuer Rating on BANK OF FUKUOKA
JCR Affirmed A+/Stable Long-term Issuer Rating on Kumamoto Bank
JCR Affirmed A+/Stable Long-term Issuer Rating on Juhachi-Shinwa Bank

JCR Affirmed A+/Stable, A+, A- and J-1 on NIPPON SANSO HOLDINGS

Sep. 30, 2020

JCR Reviewed Bonds issued by Fuyo General Lease

JCR Assigned Preliminary BBB+ Rating to Subordinated Bonds of Rakuten

JCR Assigned Preliminary AA-; Affirmed AA-/Stable and J-1+ on JERA

JCR's Rating Review of Blast Furnace Steel Manufacturers

[ Asset Securitization Products ] JCR Assigned J-1+ to Teral Bills & Electronically Recorded Receivable ABL 20-09

JCR Assigned A+ to Ganymede Limited Series 2020-104

JCR Assigned AA- to Securitization of Leases Receivable from SB 202009

JCR Assigned AA- to Securitization of Loans Receivable from SB 202009

[ Asset Securitization Products ] JCR Assigned AAA to Class A Beneficial Interest 202009

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

JCR Withdraws BBB/Stable Long-term Issuer Rating on Showa Aircraft Industry

JCR Withdraws J-1+ Rating on ABCP Program of Godo Kaisha GK 48

Sep. 29, 2020

NTT's Making NTT DOCOMO a Wholly-Owned Subsidiary—No Immediate Impact on Rating; JCR Will Pay Attention to Investment Effects