News Release

Sep. 28, 2020

JCR Provided a Third Party Opinion to Positive Impact Finance Provided by Sumitomo Mitsui Trust Bank to Rengo

JCR Affirmed BBB, Preliminary BBB and J-2 on JALUX; Revised Outlook from Positive to Stable

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

JCR Assigned AA- to Oxygen Capital Limited Series 130

Sep. 25, 2020

JCR Assigned Preliminary A+ Rating to Shelf Registration of Fuyo General Lease

JCR Affirmed BBB+/Stable, BBB+ and Preliminary BBB+ on FUTABA INDUSTRIAL

JCR Assigned J-1+ to Specified Money Trust Beneficial Interest 2129052

Sep. 24, 2020

Business Integration between Mitsubishi UFJ Lease & Finance and Hitachi Capital - No Impact on Rating; JCR Will Pay Attention to Future Synergistic Effects

JCR Placed Rating on Hitachi Capital under Credit Monitor #AA-/Positive

JCR Placed Rating on Hitachi Capital Insurance under Credit Monitor #AA-/Positive

JCR Affirmed A+/Stable Long-term Issuer Rating on TAKARA STANDARD

JCR Affirmed A/Stable and J-1 on Marubeni-Itochu Steel

JCR Assigned J-1+ to Jointly Operated Designated Money Trust Z

Sep. 23, 2020

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

JCR Assigned AA- Rating to Bonds of Nissay 5th Subordinated Loan Securitization Company Limited

JCR Downgraded Rating on Showa Denko from A/Negative, A, BBB+ to A-/Stable, A-, BBB; Affirmed J-1

JCR Affirmed J-2 Rating on CP of SHOKO

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

JCR Affirmed BB+/Stable Long-term Issuer Rating on Sharp

JCR Affirmed A/Negative, A and J-1 on Rakuten Card

JCR Affirmed A/Negative and J-1 on Rakuten Bank

JCR Affirmed A/Negative Long-term Issuer Rating on Rakuten General Insurance

JCR Affirmed AA/Stable and AA on TOYOTA BOSHOKU

JCR Affirmed AAA (FC)/AAA (LC) Ratings on Export Development Canada with Stable Outlook

[ Asset Securitization Products ] JCR Assigned J-3 to Narasaki Stax Accounts Receivable ABL 20-09

JCR Affirmed A on Kurimoto Mega Solar Green Project Bond Trust 2 Beneficial Interest and Trust ABL

JCR Affirmed A on Kurimoto Mega Solar Project Bond Trust 1 Beneficial Interest and Trust ABL

Sep. 18, 2020

JCR Assigned BBB+/Stable Long-term Issuer Rating to Indofood CBP Sukses Makmur

JCR Assigned BBB Rating to Subordinated Bonds of NIPRO

JCR Assigned A- Rating to Bonds of SAPPORO HOLDINGS

JCR Affirmed BBB/Stable Long-term Issuer Rating on Tokushu Tokai Paper

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

JCR Affirmed AAA Rating on New Development Bank with Stable Outlook

[ Asset Securitization Products ] JCR Assigned BBB+ and Preliminary BBB+ to ABL 20-09

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Treatment Fees Receivable ABL 20-09 (F Hospital)

[ Asset Securitization Products ] JCR Assigned Preliminary J-1 to Aso Shoji Bills Receivable ABL 20-09

Sep. 17, 2020

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

JCR Reviewed Bonds Issued by Sumitomo Warehouse

JCR Upgraded Rating on Japan Earthquake Reinsurance from AAp/Stable to AA+p/Stable

JCR Downgraded Rating on Toho Zinc from BBB/Negative to BBB-/Stable; Affirmed J-2

JCR Assigned BB Rating to Subordinated Loan of Kawasaki Kisen

JCR Assigned Preliminary AA- Rating to Shelf Registration of Sumitomo Warehouse

JCR Assigned AA Rating to Bonds of GLP J-REIT

JCR's Rating Review of Foreign Exchange (FX) Margin Trading Intermediaries

JCR Affirmed A/Stable Long-term Issuer Rating on FIRST BANK OF TOYAMA

[ Asset Securitization Products ] JCR Affirmed A+ on Mirach Limited Series 1907-M02

JCR Affirmed A+ on Mirach Limited Series 1906-M01

[ Asset Securitization Products ] JCR Affirmed A+ on ZEST Investments B Series 1707-B01

JCR Affirmed A+ on Spica Limited Series 1910-S12

Sep. 16, 2020

JCR Affirmed A- on JETS International Five Limited Series 178

Mitsui Fudosan Logistics Park's Issuance of New Investment Units, Secondary Offering of Investment Units and Acquisition of Properties - Significant Expansion of Asset size; JCR Will Watch Developments Such as Management Conditions after Acquisition

JCR Affirmed BBB+/Stable, BBB+ and BBB- on Hitachi Zosen

Sep. 15, 2020

JCR Reviewed the Bonds of Odakyu Electric Railway

JCR Assigned A+ Rating to Bonds of SUMITOMO HEAVY INDUSTRIES

JCR Affirmed AA-/Stable, AA-, A+ and A- on Nomura Holdings
JCR Affirmed AA-/Stable Long-term Issuer Rating on Nomura Securities
JCR Affirmed AA-/Stable Long-term Issuer Rating on Nomura Bank International
JCR Affirmed AA- Rating on EMTN of Nomura Europe Finance
JCR Affirmed AA- Rating on EMTN of Nomura Global Finance

JCR Affirmed AA-/Stable Long-term Issuer Rating on Nomura Trust and Banking

JCR Affirmed A+/Stable, A+, BBB+ and Preliminary A+ on Daiwa Securities Group
JCR Affirmed A+/Stable Long-term Issuer Rating on Daiwa Securities

JCR Affirmed J-2 Rating on CP of TSUBAKIMOTO KOGYO

JCR Affirmed BBB Rating on Adaro Energy with Stable Outlook

[ Asset Securitization Products ] JCR Assigned Preliminary J-1 to BANK OF FUKUOKA C Corporation Bills & Electronically Recorded Receivable ABL 20-09

Sep. 14, 2020

JCR Affirmed A- Rating on Tokyo Star Bank; Revised Outlook from Positive to Stable

JCR Assigned Preliminary A- Rating to Shelf Registration of Central Glass

JCR Affirmed BBB+/Stable Long-term Issuer Rating on DAIICHI JITSUGYO

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

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

Sep. 11, 2020

JCR Provided pre-issuance verification report to PET Refine Technology

JCR Assigned AAA/Stable Long-term Issuer Rating to TOYOTA FINANCE

JCR Assigned AAA/Stable Long-term Issuer Rating to TOYOTA MOTOR; Withdraws J-1+ Rating on CP

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

JCR Assigned AA Rating to Bonds of DAIKIN INDUSTRIES

JCR Assigned A- Rating to Bonds of ASAHI BROADCASTING GROUP HOLDINGS

JCR Assigned A- Rating to Bonds of SENKO Group Holdings

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

JCR Affirmed A+ Rating on SEIBU SHINKIN BANK; Revised Outlook from Negative to Stable

JCR Assigned Preliminary AAA Rating to Shelf Registration of NTT FINANCE

JCR Assigned A- Bonds/Green Bonds Ratings to Be Issued by Hungary

JCR Assigned AAA Rating to Bonds of Tokyo Metro

JCR Affirmed A/Positive, A and Preliminary A on KONAMI HOLDINGS

JCR Affirmed J-2 Rating on CP of TOKAI Holdings

Sep. 10, 2020

JCR Downgraded Rating on UNIZO Holdings from #BBB+/Negative to #BBB/Negative; Maintains Credit Monitor

JCR Assigned AA Rating to Bonds of Tohoku Electric Power

JCR Assigned AA Rating to Bonds of ORIENTAL LAND

JCR Assigned A+ Rating to Bonds of YOKOHAMA MINATOMIRAI RAILWAY

JCR Assigned Preliminary A+ Rating to Shelf Registration of AIR WATER

JCR Assigned AAA Rating to Bonds of Development Bank of Japan

JCR Affirmed AA+ Rating on Quebec with Stable Outlook

Sep. 09, 2020

JCR Assigned AA Rating to Bonds of DAIWA HOUSE INDUSTRY

JCR Assigned AAA Rating to Bonds of Central Nippon Expressway

Sep. 08, 2020

JCR Provided Pre-issuance Verification Report to Penta-Ocean Construction

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

JCR Affirmed BBB+ and J-2 Rating on Daio Paper; Revised Outlook from Stable to Positive

JCR Assigned A- Rating to Bonds of Sojitz

JCR Assigned A+ Rating to Bonds of THK

JCR Assigned Preliminary A+ Rating to Shelf Registration of Mitsubishi Chemical Holdings

JCR Affirmed BBB+/Stable Long-term Issuer Rating on FIDEA Holdings
JCR Affirmed BBB+/Stable Long-term Issuer Rating on SHONAI BANK
JCR Affirmed BBB/Stable Long-term Issuer Rating on Hokuto Bank

Sep. 07, 2020

JCR Affirmed BBB Rating on KISOJI; Revised Outlook to Negative

JCR Assigned Pre. A- Rating to Subordinated Bonds of MORI BUILDING

JCR Assigned Pre. A+ Rating to Shelf Registration of MORI BUILDING

JCR Affirmed AA-/Stable, AA- and J-1+ on Mori Trust Holdings

JCR Affirmed AA on EMTN of ITOCHU and ITOCHU Treasury Centre Europe