News Release

Sep. 10, 2021: JCR Assigned BBB+ to Subordinated Loan and Preliminary BBB+ to Subordinated Bonds of Japan Airlines; JCR Assigned Preliminary AA- Rating to Subordinated Loan of National Mutual Insurance Federation of Agricultural Cooperatives; JCR Assigned Preliminary AA- Rating to Bonds of Zenkyoren 1st Subordinated Loan Securitization Company Limited; JCR Affirmed AA- on Ascent Finance Limited Series 2020-1032; JCR Affirmed AA- on Ascent Finance Limited Series 2020-1035; JCR Affirmed AA- on Ascent Finance Limited Series 2020-1042; JCR Affirmed AA- on Ascent Finance Limited Series 2020-1043; JCR Affirmed AA- on Ascent Finance Limited Series 2020-1050; [ Asset Securitization Products ] JCR Affirmed AA- on Ascent Finance Limited Series 2019-1003; [ Asset Securitization Products ] JCR Affirmed AA- on Ascent Finance Limited Series 2019-1005; JCR Assigned SU 1 to Bonds Issued by Fuyo General Lease

Sep. 09, 2021: JCR Assigned A+ Rating to Bonds of ISUZU MOTORS; JCR Assigned AA Rating to Bonds of Tohoku Electric Power; JCR Affirmed AA- on Violet Protected Asset SPC Series VPA 1 S01; JCR Affirmed AA- on Violet Protected Asset SPC Series VPA 1 S02; JCR Affirmed AA- on Violet Protected Asset SPC Series VPA 1 S08; JCR Affirmed AA- on Violet Protected Asset SPC Series VPA 1 S10; JCR Assigned Green 1 (T)(Final Evaluation) to Transition Loan Borrowed by Mitsui O.S.K. Lines

Sep. 08, 2021: JCR Assigned BBB+ Rating to Bonds of ICHINEN HOLDINGS; JCR Assigned AA+ Rating to Bonds of NARITA INTERNATIONAL AIRPORT; JCR Assigned Preliminary A+ Rating to Shelf Registration of Takeda Pharmaceutical

Sep. 07, 2021: JCR Affirmed BBB/Stable Long-term Issuer Rating on Tokushu Tokai Paper; JCR Assigned AA- Rating to Bonds of Sumitomo Metal Mining; JCR Assigned Preliminary A+ Rating to Shelf Registration of Pan Pacific International Holdings; JCR Assigned SU 1(F) to Sustainability Finance Framework of EIKEN CHEMICAL; JCR Assigned SU 1 (Preliminary Evaluation) to Sustainability Bonds Issued by EIKEN CHEMICAL

Sep. 06, 2021: JCR Affirmed J-2 Rating on CP of TSUBAKIMOTO KOGYO; JCR Affirmed A-/Stable (FC/LC) and A- on the Philippines; JCR Provided a Third Party Opinion on Transition Linked Finance Framework of Kawasaki Kisen; JCR Provided a Third Party Opinion to Positive Impact Finance Provided by Shizuoka Bank to Nisshin Denki

Sep. 03, 2021: West Japan Railway's Issuance of New Shares and Secondary Offering of Shares - JCR Values it as a Recovery of Financial Structure; JCR Affirmed A- Rating on Mazda Motor; Revised Outlook from Negative to Stable; JCR Affirmed A-/Stable and A- on ASAHI BROADCASTING GROUP HOLDINGS; JCR Affirmed A/Stable, A, Preliminary A and J-1 on POCKET CARD; JCR Affirmed BBB+/Stable Long-term Issuer Rating on Chikuho Bank; JCR Affirmed AA/Stable and AA on GLP J-REIT; JCR Assigned A Rating to Bonds of TEPCO Renewable Power; JCR Assigned AA- Rating to Bonds of Hankyu Hanshin Holdings; JCR Assigned A+ Rating to Bonds of YOKOHAMA MINATOMIRAI RAILWAY; JCR Assigned A Rating to Bonds of Nippon Paper Industries; JCR Assigned AA- to SPACE VIII Limited Series 2021-04; JCR Provided a Third Party Opinion to Sustainability Link Bonds of Tokyu Fudosan Holdings; JCR Assigned Green 1 (Final Evaluation) to Long-term Loan Borrowed by Daiwa House REIT Investment Corporation

Sep. 02, 2021: JCR Placed Rating on FUJI under Credit Monitor #BBB+/Positive; JCR Affirmed AA/Stable (FC) and AA on Electricite de France; [ Asset Securitization Products ] JCR Assigned AAA Rating to Hayabusa 2; JCR Assigned Green 1 to GP fund and LP fund of DSREF Amaterasu Core Fund, Investment Limited Partnership; JCR Assigned Green 1(F) to Green Finance Framework (Renewable Energy) of Daiwa Real Estate Asset Management

Sep. 01, 2021: JCR Affirmed A-/Stable, A-, Preliminary A- and J-1 on Sojitz; JCR Affirmed BBB-/Stable and J-2 on Toho Zinc; JCR Affirmed BBB Rating on EMTN of Monex Finance; JCR Assigned AA Rating to Bonds of Chubu Electric Power; JCR Assigned AA- to SPARC Limited Series 2021-4

Aug. 31, 2021: JCR Assigned A+/Stable Long-term Issuer Rating to METAWATER; JCR Affirmed BBB and Preliminary BBB on Sanken Electric; Revised Outlook from Negative to Stable; JCR Affirmed BBB+/Stable Long-term Issuer Rating on RESORTTRUST; JCR Affirmed A-/Stable Long-term Issuer Rating on San ju San Financial Group
JCR Affirmed A-/Stable Long-term Issuer Rating on San ju San Bank; JCR Affirmed A-/Stable and A- on FOOD & LIFE COMPANIES; JCR Affirmed AA-/Stable (FC) and AA- on Shinhan Bank; JCR Affirmed J-1+ Rating on CP of JCB; Increase in CP Maximum Amount; JCR Assigned Preliminary AA- Rating to Shelf Registration of Sumitomo Metal Mining; JCR Assigned AA- Rating to Bonds of Nomura Holdings; JCR Assigned AA- to Ascent Finance Limited Series 2021-1200; JCR Provided a Third Party Opinion to Positive Impact Finance Provided by Sumitomo Mitsui Trust Bank to Kawasaki Heavy Industries; JCR Provided a Post-issuance Verification Report to 10th Bonds (Sustainability Linked Bonds) Issued by Hulic; JCR Provided a Third Party Opinion to Positive Impact Finance Provided by Shizuoka Bank to Shizukoh; JCR Provided a Third Party Opinion to Positive Impact Finance Provided by Shizuoka Bank to Tokiwa Kogyo

Aug. 30, 2021: JCR Affirmed A+/Stable, A+, Preliminary A+ and J-1 on THK; JCR Affirmed A/Stable, A, BBB+, Preliminary A and J-1 on DIC; JCR Affirmed BBB/Stable Long-term Issuer Rating on TOYO KANETSU; [ Asset Securitization Products ] JCR Assigned J-1 to Aso Shoji Bills Receivable ABL 21-08; [ Asset Securitization Products ] JCR Assigned J-1 to BANK OF FUKUOKA C Corporation Bills & Electronically Recorded Receivable ABL 21-08; [ Asset Securitization Products ] JCR Assigned J-1 to Medical Treatment Fees Receivable ABL 21-08 (D Hospital); JCR Affirmed A+ on Beneficial Interest and ABL of Securitization of Loans Receivable

Aug. 27, 2021: JCR's Rating Review of Major Oil Distributors; JCR Affirmed A+/Stable, A+ and J-1 on ITOCHU ENEX; JCR Assigned AA Rating to Bonds of Kansai Electric Power; JCR Assigned A+ Rating to Bonds of ACOM; JCR Assigned A Rating to Bonds of JA MITSUI LEASING; JCR Assigned AAA Rating to Bonds of West Nippon Expressway; JCR Assigned AA Rating to Bonds of Industrial & Infrastructure Fund Investment Corporation; JCR Assigned Preliminary AA Rating to Shelf Registration of Sumitomo Electric Industries

Aug. 26, 2021: JCR Upgraded Rating on DAIKI ALUMINIUM INDUSTRY from BBB/Positive to BBB+/Stable; JCR Affirmed AA-/Stable, AA-, Preliminary AA- and J-1+ on Hankyu Hanshin Holdings; JCR Assigned AA Rating to Bonds of ORIENTAL LAND; JCR Assigned AA- Rating to Bonds of Mitsubishi Heavy Industries; JCR Assigned Preliminary A- Rating to Shelf Registration of SoftBank Group; JCR Assigned AA- to Oxygen Capital Limited Series 150; JCR Assigned Social 1 to Long-term Loan Borrowed by Hoosiers Care Design; JCR Assigned Green 1 (Final Evaluation) to Long Term Loan Borrowed by IINO KAIUN

Aug. 25, 2021: JCR Affirmed A, Preliminary A and J-1 on TAIHEIYO CEMENT; Revised Outlook from Stable to Positive; JCR Affirmed A+/Stable, A+, Preliminary A+ and J-1 on Nippon Electric Glass; JCR Affirmed A-/Stable, A-, BBB and J-1 on NIPRO; JCR Affirmed A+/Stable Long-term Issuer Rating on TAKARA STANDARD; JCR Affirmed AAA/Stable and AAA on Japan Bank for International Cooperation; JCR Assigned A Rating to Bonds of TEPCO Power Grid; [ Asset Securitization Products ] JCR Affirmed AAA on JHF-guaranteed RMBS ABL Program; [ Asset Securitization Products ] JCR Assigned A to Securitization of Leases Receivable 202108; JCR Assigned Social 1 to Long-term Loan borrowed by NIPPON TOCHI-TATEMONO Private REIT Inc.

Aug. 24, 2021: JCR Upgraded Rating on Daio Paper from BBB+/Positive, BBB+ and J-2 to A-/Stable, A- and J-1

Release Information: News Release; Issuer Reports; Reports relating to Issuer; JCR News