News Release

May. 21, 2021

JCR Assigned A- Rating to Bonds of Sojitz

JCR Assigned BBB- to Bonds of Credito Real; Affirmed BBB-/Stable (FC) and BBB- and BB on MTN Program

JCR Assigned AAA Rating to Bonds of Japan Student Services Organization

JCR Affirmed AA+/Stable and AA+ on NARITA INTERNATIONAL AIRPORT

JCR Affirmed AA/Stable Long-term Issuer Rating on Hachijuni Bank

JCR Affirmed A/Stable (FC) on NatWest Group and NatWest Market and A+/Stable (FC) on National Westminster Bank

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

Highlights of Three Japan Railway Companies' Financial Results for Fiscal Year Ended March 2021

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

May. 20, 2021

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

JCR Assigned AA Rating to Bonds of Tohoku Electric Power

Highlights of Semiconductor Production Equipment Manufacturers' Financial Results for Fiscal Year Ended March 2021

JCR Affirmed AAAp/Stable Long-term Issuer Rating on European Bank for Reconstruction and Development

JCR Assigned AA- to Oxygen Capital Limited Series 144

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

[ Asset Securitization Products ] JCR Assigned J-3 to Narasaki Stax Accounts Receivable ABL 21-05

JCR Affirmed BBB Rating on Sumitomo Mitsui Trust ABL11150

JCR Affirmed BB+ Rating on Sumitomo Mitsui Trust ABL11341

JCR Downgraded Rating on Sumitomo Mitsui Trust ABL11339 to BBB-

JCR Affirmed BBB Rating on Sumitomo Mitsui Trust ABL11340

JCR Downgraded Rating on Mitsubishi UFJ Trust ABL630 from BBB- to BB+

JCR Assigned Social 1(F) to Social Finance Framework of Daiwa Securities Living Investment Corporation

May. 19, 2021

JCR Assigned AA+/Stable Long-term Issuer Rating to National Mutual Insurance Federation of Agricultural Cooperatives

JCR Assigned Preliminary BBB Rating to Subordinated Bonds of SoftBank Group

JCR Assigned A+ Rating to Bonds of J. FRONT RETAILING

JCR Assigned SU 1 to the Sustainability Bonds Issued by J. FRONT RETAILING

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

JCR Assigned AA Rating to Bonds of Nippon Prologis REIT

JCR Affirmed A/Negative, A and Preliminary A on Japan Airlines

JCR Affirmed AA+p/Stable Long-term Issuer Rating on Shin-Etsu Chemical

Highlights of Blast Furnace Steelmakers' Financial Results for Fiscal Year Ended March 2021

May. 17, 2021

Seven & i Holdings Postpones Disclosure of Medium-Term Management Plan - JCR Will Keep to Pay Attention to Earnings and Financial Impacts of Acquisition of U.S. Speedway LLC

JCR Assigned Preliminary AA Rating to Shelf Registration of Sumitomo Mitsui Finance and Leasing

JCR Affirmed BBB+/Stable and BBB+ on ZUIKO

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

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

JCR Affirmed BBB- on Giga Solar Green Project Bond Trust (Fukushima) Beneficial Interest and Trust ABL

May. 14, 2021

JAPAN POST INSURANCE's Share Buyback Will Reduce JAPAN POST HOLDINGS' Equity Interest - No Immediate Impact on Rating

JCR Placed Rating on Aomori Bank under Credit Monitor #A-/Negative

JCR Affirmed A Rating on Hiroshimashi Credit Cooperative; Revised Outlook from Stable to Positive

JCR Assigned AA+ Rating to Bonds of Electric Power Development

JCR Assigned AAA Rating to Bonds of West Nippon Expressway

JCR Assigned AA+ Rating to Bonds of NEW KANSAI INTERNATIONAL AIRPORT

JCR Assigned Preliminary AA- Rating to Shelf Registration of Odakyu Electric Railway

JCR Assigned Preliminary A- to Canadian Solar Dual Tenor Green Project Bond Trust (Fukuoka) Beneficial Interest and Trust ABL

[ Asset Securitization Products ] JCR Affirmed AAA, BBB and A on MMJ Mortgage Trust II Senior Beneficial Interest and ABL

May. 13, 2021

JCR Assigned AA Rating to Bonds of Sekisui House Reit

May. 12, 2021

JCR Affirmed A+, A-, Preliminary A+ and J-1 on Hulic; Revised Outlook from Stable to Positive

JCR Assigned Preliminary A Rating to Subordinated Bonds of ENEOS Holdings

JCR Assigned Preliminary AA- Rating to Shelf Registration of ENEOS Holdings

JCR Assigned Preliminary A Rating to Shelf Registration of SCSK

JCR Affirmed A-/Stable (FC) and A/Stable (LC) on Republic of Peru

JCR Provided Third-Party Opinions on the Positive Impact Finance Evaluation and Impact Management and Impact Assessment Provided by Sumitomo Mitsui Trust Bank to Anchor Ship Partners and Anchor’s fifth funds

May. 11, 2021

JCR Assigned AA- Rating to Subordinated Loan of Nippon Life Insurance

JCR Assigned AA- Rating to Bonds of Nissay 6th Subordinated Loan Securitization Company Limited

May. 10, 2021

Two Major Airlines Announce FY2020 Results - Trends in Future Business Recovery to Be Closely Watched

JCR Assigned Preliminary A Rating to Subordinated Bonds of JFE Holdings

JCR Affirmed AA+/Stable and AA+ on Nippon Building Fund

May. 07, 2021

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

JCR Affirmed A/Stable Long-term Issuer Rating on Bank of The Ryukyus
JCR Affirmed A-/Stable Long-term Issuer Rating on Okinawa Credit Service
JCR Affirmed A-/Stable Long-term Issuer Rating on Ryukyu Leasing

May. 06, 2021

JCR's Ratings on San ju San Bank

Apr. 30, 2021

JCR Affirmed AA/Stable and AA- on Gunma Bank

JCR Assigned Preliminary BBB+ to TRIBAY Low-voltage Green Project Bond Trust Beneficial Interest and Trust ABL

[ Asset Securitization Products ] JCR Assigned BBB to ABL 21-04

[ Asset Securitization Products ] JCR Assigned Preliminary AAA to Grass Park Beneficial Interest Series 5

[ Asset Securitization Products ] JCR Assigned AAA Ratings to Grass Park Beneficial Interest Series 4

JCR Withdraws AA-/Stable Long-term Issuer Rating on Kansai Mirai Financial Group

Apr. 28, 2021

JCR Assigned AA- Rating to Bonds of Sumitomo Realty & Development

JCR Affirmed A+/Stable Long-term Issuer Rating on MIZUHO Leasing
JCR Affirmed A+/Stable and J-1 on Mizuho-Toshiba Leasing
JCR Affirmed A+/Stable and J-1 on Mizuho Marubeni Leasing; Increase in CP Maximum Amount

JCR Affirmed A Rating on One REIT; Revised Outlook from Stable to Positive

JCR Affirmed AA-/Stable Long-term Issuer Rating on LJPFGK

[ Asset Securitization Products ] JCR Reviewed Ratings on Beneficial Interest 202007 (Contract No. 210252)

[ Asset Securitization Products ] JCR Affirmed AAA and BBB- on Toyonosato Senior Beneficial Interest, Other Beneficial Interest and ABL

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Treatment Fees Receivable ABL 21-04 (D Hospital)

[ Asset Securitization Products ] JCR Assigned J-1 to BANK OF FUKUOKA C Corporation Bills & Electronically Recorded Receivable ABL 21-04

Apr. 27, 2021

JCR Assigned J-1+ Rating to CP of Sumitomo Warehouse

JCR Assigned AAA Rating to Bonds of Central Nippon Expressway

JCR Affirmed A-/Stable, A- and J-1 on SAPPORO HOLDINGS

JCR Affirmed AA+/Stable Long-term Issuer Rating on BRIDGESTONE

JCR Affirmed AA/Stable and AA on FAST RETAILING

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

JCR Assigned AA- to Oxygen Capital Limited Series 142

Apr. 26, 2021

JCR Assigned BBB+ Rating to Bonds Issued by Cantor Fitzgerald

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

JCR Affirmed AA-/Stable and AA- on Comforia Residential REIT

Apr. 23, 2021

JCR Assigned A+ Rating to Bonds of Mortgage Corporation of Japan

JCR Affirmed A- Rating on Samty Residential Investment Corporation; Revised Outlook from Stable to Positive

JCR Affirmed J-1 Rating on CP of Sumitomo Bakelite; Increase in CP Maximum Amount

JCR Affirmed A+/Stable and A+ on EXEDY

JCR Affirmed A+/Stable, A+ and Preliminary A+ on YOKOHAMA MINATOMIRAI RAILWAY

JCR Affirmed AA-/Stable and J-1+ on JAPAN SECURITIES FINANCE

JCR Affirmed A+/Stable and J-1+ on JSF Trust and Banking

Apr. 22, 2021

JCR Assigned A to Bonds of Ichigo Office REIT Investment Corporation

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

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

Apr. 21, 2021

JCR Assigned BBB Rating to Subordinated Bonds of Mitsui O.S.K. Lines

JCR Assigned AA- Rating to Bonds of Sumitomo Mitsui Trust Bank

JCR Assigned BBB+ Rating to Bonds Issued by Cantor Fitzgerald

JCR Assigned AA- Rating to Bonds of Daiwa Securities Living Investment Corporation

JCR Affirmed AA-/Stable Long-term Issuer Rating on Kokushikan