News Release

Feb. 18, 2019

JCR Affirmed BBB/Stable Long-term Issuer Rating on Soken Chemical & Engineering

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

JCR Affirmed BBB- on Sumitomo Mitsui Trust ABL11151

JCR Affirmed BBB+ on Sumitomo Mitsui Trust ABL11150

Feb. 15, 2019

JCR Upgraded Rating on Sekisui House Reit from AA-/Positive to AA/Stable

JCR Assigned Preliminary A- Rating to Subordinated Bonds of Takeda Pharmaceutical

JCR Assigned J-1 Rating to CP of Takeda Pharmaceutical

JCR Assigned AAA Rating to Bonds of Metropolitan Expressway

JCR Affirmed BBB+ (FC/LC) Ratings on Export-Import Bank of India with Stable Outlook

[ Asset Securitization Products ] JCR Assigned Preliminary AAA to Class A Beneficial Interest 201903

Feb. 14, 2019

Nissan's Downward Revision of Earnings Forecasts-Profitability to be Regained and Direction of Alliance Will Be Closely Watched

JCR Assigned A+/Stable and Preliminary A- to Dai-ichi Life Holdings

Feb. 13, 2019

JCR Assigned Green 1 to JA Solar Green Project Bond Beneficial Interest (Fukushima)

JCR Assigned BBB- to JA Solar Green Project Bond Trust (Fukushima) Senior Beneficial Interest

JCR's Rating Review of 3 Major Shipping Companies

JCR Affirmed A+/Stable, A+, and J-1 on NH Foods

JCR Assigned AA Rating to Bonds of MORI TRUST Sogo Reit

Feb. 12, 2019

JCR Removed Credit Monitor; Downgraded Long-term Issuer Rating from #CC/Negative to LD and from NJ to LD for CP on AKEBONO BRAKE INDUSTRY

JCR Assigned Preliminary Evaluation of Social 1 to Synthetic SME CLOs by Japan Finance Corporation

JCR Affirmed A+/Stable Long-term Issuer Rating on Kyoritsu Women's Educational Institution

JCR Affirmed A+/Stable Long-term Issuer Rating on OITA BANK

Feb. 08, 2019

SONY Passes a Resolution for the Purchase of Treasury Shares - Outlook Remains Positive

TOYOBO's Recording of Extraordinary Losses - No Impact on Rating

JCR Assigned Green 1 to Bonds issued by Kenedix Office Investment Corporation

JCR Assigned AA- Rating to Bonds of Kenedix Office Investment Corporation

JCR Upgraded Rating on Daiwa Office Investment Corporation from AA-/Positive and AA- to AA/Stable and AA

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

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

JCR Assigned Preliminary BBB+ Rating to Shelf Registration of FUTABA INDUSTRIAL

JCR Assigned BBB Rating to Bharat Oman Refineries with Stable Outlook

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

JCR Assigned AA Rating to Bonds of NEW KANSAI INTERNATIONAL AIRPORT

JCR Assigned AAA Rating to Bonds of West Nippon Expressway

Feb. 06, 2019

Resolution by SoftBank Group on Repurchase of Its Own Share - Limited Impact on Rating

Additional Recording of Extraordinary Losses by Nippon Paper Industries - Stronger Downward Pressure on Rating

Feb. 05, 2019

JCR assigned Green 1 (Preliminary Evaluation) to the 2nd subordinated bonds to be issued by Tokyo Tatemono

JCR Assigned Preliminary BBB Rating to Subordinated Bonds of Tokyo Tatemono

JCR Affirmed A+/Stable, A+ and J-1 on ITO EN

JCR Affirmed BBB-/Stable Long-term Issuer Rating on Howa Bank

JCR Affirmed AA/Stable Long-term Issuer Rating on DREAM Private REIT

Feb. 04, 2019

JCR Affirmed A+p/Stable Long-term Issuer Rating on Oji Holdings

JCR Affirmed A-/Stable and A- on Sotetsu Holdings

Feb. 01, 2019

Healthcare & Medical Investment Corporation changed the amount of part of the Social Loans and canceled the short-term social loans – JCR Social Loan Evaluation result of “Social 1” maintained

JCR Affirmed A-/Stable, A- and J-1 on Mitsui Sugar

JCR Affirmed AA-/Stable, AA-, Preliminary AA- and J-1+ on RICOH LEASING

JCR Affirmed A/Stable Long-term Issuer Rating on SBI Sumishin Net Bank

Jan. 31, 2019

Nomura Holdings Announces 3Q Results - Losses Reported but No Immediate Impact on Rating

JCR Assigned A+/Stable Long-term Issuer Rating to Takeda Pharmaceutical

JCR Affirmed A- Rating on H.I.S.; Revised Outlook from Stable to Negative

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

JCR Affirmed AAA/Stable, AAA, and Preliminary AAA on NTT DOCOMO

JCR Affirmed AAA/Stable Long-term Issuer Rating on NIPPON TELEGRAPH AND TELEPHONE

JCR Affirmed BBB+ (FC/LC) Ratings on Indian Railway Finance Corporation Limited with Stable Outlook

[ Asset Securitization Products ] JCR Assigned J-1+ to Teral Bills & Electronically Recorded Receivable ABL19-01

Jan. 30, 2019

JCR Downgraded Long-term Issuer Rating from BB+ to #CC/Negative and CP from J-3 to NJ on AKEBONO BRAKE INDUSTRY; Placed Rating under Credit Monitor Negative

JCR Upgraded Rating on Nagoya Railroad from A/Positive to A+/Stable

JCR Affirmed BBB+/Stable Long-term Issuer Rating on Sanyo Electric Railway

JCR Affirmed AA Rating on Kanagawa Prefectural Housing Supply Corporation; Revised Outlook from Stable to Positive

JCR Assigned A+ Rating to Bonds of THK

JCR Affirmed BBB-/Stable Long-term Issuer Rating on Harima-Kyowa

[ Asset Securitization Products ] JCR Assigned J-1 to Aso Shoji Bills Receivable ABL19-01

Jan. 29, 2019

JCR Upgraded Rating on Tokyu Fudosan Holdings from A-/Positive, A- and Preliminary A- to A/Stable, A and Preliminary A; Affirmed J-1

JCR Affirmed AA/Stable, AA, Preliminary AA and J-1+ on Mitsui Fudosan

JCR Affirmed A+/Stable, A+, Preliminary A+ and J-1 on Sumitomo Realty & Development

JCR Affirmed AA+p/Stable Long-term Issuer Rating on Mitsubishi Estate

JCR Affirmed BBB+/Negative Long-term Issuer Rating on NIPPON CHEMI-CON

JCR Affirmed A-/Stable Long-term Issuer Rating on Mitsuuroko Group Holdings

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

Jan. 28, 2019

Renault Announced Management Changes and Nissan Supports Them-Impacts on Synergy Effects of Alliance among Three Companies Will Be Closely Watched

JCR Affirmed AA+/Stable Long-term Issuer Rating on Seven & i Holdings
JCR Affirmed AA+/Stable Long-term Issuer Rating on Seven-Eleven Japan

JCR Affirmed A/Stable Long-term Issuer Rating on SQUARE ENIX HOLDINGS

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

JCR Affirmed AA/Stable and AA on MORI TRUST Sogo Reit

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Treatment Fees Receivable ABL19-01 (D Hospital)

Jan. 25, 2019

SUMITOMO HEAVY INDUSTRIES Announces Improper Inspections and Other Misconducts - Investigation Results Etc. by Investigation Committee Will Be Closely Watched

JCR Upgraded Rating on Tokyo Century Corporation from A+/Positive to AA-/Stable and from J-1 to J-1+
JCR Upgraded Rating on NIPPON CAR SOLUTIONS from A+/Positive to AA-/Stable and from J-1 to J-1+
JCR Affirmed J-1 Rating on CP of Orico Auto Leasing
JCR Upgraded Rating on FUJITSU LEASING from A+/Positive to AA-/Stable and from J-1 to J-1+

JCR Affirmed BBB/Stable Long-term Issur Rating on TOTTORI BANK

Jan. 24, 2019

ZEST Investments B 1606-B01

JCR Affirmed A+/Stable and A on SHIGA BANK

JCR Affirmed AAA Rating on Bonds (guaranteed by Development Bank of Japan) of Suzuyo

Jan. 23, 2019

JCR Reviewed Green Loan Evaluation on Long-term Loan borrowed by Canadian Solar Infrastructure Fund

JCR Assigned A+ Rating to Subordinated Bonds of JAPAN POST INSURANCE

JCR Assigned AA- Rating to Bonds of Kansai Electric Power

JCR Affirmed A- Rating on YAMAZEN; Revised Outlook from Stable to Positive

JCR Affirmed A+/Stable and J-1 on MINEBEA MITSUMI

[ Asset Securitization Products ] JCR Assigned Preliminary J-1 to Aso Shoji Bills Receivable ABL19-01

[ Asset Securitization Products ] JCR Assigned J-3 to Narasaki Stax Accounts Receivable ABL19-01

Jan. 22, 2019

JCR Upgraded Rating on FUJI ELECTRIC from A-/Positive to A/Stable

JCR Upgraded Rating on Mitsui Chemicals from A/Positive, A and Preliminary A to A+/Stable, A+ and Preliminary A+; Affirmed J-1 on CP

JCR Upgraded Rating on TONAMI HOLDINGS from BBB+/Positive to A-/Stable

JCR Assigned A- Rating to Subordinated Bonds of TAIYO NIPPON SANSO

JCR Assigned A Rating to Bonds of TEPCO Power Grid

JCR Affirmed BBB+ Rating on Yasuda Logistics; Revised Outlook from Stable to Positive

JCR Affirmed A/Stable, A, and Preliminary A on SCSK

JCR Affirmed BBB+/Stable Long-term Issuer Rating on Southern TOHOKU Social Welfare Foundation

JCR Affirmed A-/Stable and BBB+ on Ehime Bank

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Treatment Fees Receivable ABL19-01 (F Hospital)

Jan. 21, 2019

JCR Affirmed AA-/Stable and AA- on Coca-Cola Bottlers Japan Holdings

JCR Affirmed AA/Stable, AA and J-1+ on Mitsubishi Logistics

JCR Affirmed AA/Stable Long-term Issuer Rating on 77 Bank