Japan Credit Rating Agency, Ltd.

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Sep. 30, 2019: JCR Assigned Green 1 (Final Evaluation) to Long-term Loan Borrowed by Mitsubishi Electric Credit; JCR Assigned Green 1 (Final Evaluation) to the 4th Private Placement Bonds Issued by ICHINEN HOLDINGS; JCR Upgraded Rating on PT Adaro Energy Tbk to BBB with Stable Outlook; JCR Affirmed BBB/Stable Long-term Issuer Rating on Scroll; JCR Affirmed AA-/Stable and AA- on ORIX; [ Asset Securitization Products ] JCR Assigned Preliminary AAA to Grass Park Beneficial Interest Series 2; [ Asset Securitization Products ] JCR Assigned J-1+ to Teral Bills & Electronically Recorded Receivable ABL19-09; JCR Withdraws BBB-/Stable Long-term Issuer Rating on SHIMANE BANK

Sep. 27, 2019: JCR's Rating Review of Major Banks; JCR Affirmed AA/Stable, AA and AA- on Mitsubishi UFJ Securities Holdings
JCR Affirmedand 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 on Mizuho International
JCR Affirmed AA on Mizuho Securities USA; JCR Affirmed AA/Stable Long-term Issuer Rating on SMBC Nikko Securities; JCR Affirmed A+/Stable and J-1 on kabu.com Securities; JCR Affirmed A+/Stable, A+, A-, Preliminary A+ and J-1 on Hulic; JCR Assigned Preliminary AA- Rating to Shelf Registration of Global One Real Estate Investment Corporation; [ Asset Securitization Products ] JCR Assigned J-1 to Aso Shoji Bills Receivable ABL19-09; [ Asset Securitization Products ] JCR Assigned J-1+ to Saitama Resona Bank A Corporation Bills Receivable Senior Beneficial Interest 19-09

Sep. 26, 2019: JCR Assigned Green 1(F) to Green Finance Framework of AEON REIT Investment Corporation; JCR Assigned Green 1 (Preliminary Evaluation) to AEON REIT Green Trust; JCR Assigned Green 1 (Preliminary Evaluation) to Long-term Loan Borrowed by AEON REIT Investment Corporation; JCR Assigned A Rating to Bonds of Yasuda Real Estate; JCR Affirmed BBB+/Stable, BBB+ and Preliminary BBB+ on FUTABA INDUSTRIAL

Sep. 25, 2019: JCR Affirmed AAA/Stable Ratings and Assigned AAA Ratings to Bonds of African Development Bank; JCR Assigned Preliminary BBB+ Rating to Shelf Registration of Sanken Electric; JCR Affirmed AAAp/Stable Long-term Issuer Rating on East Japan Railway; [ Asset Securitization Products ] JCR Assigned J-1 to Medical Treatment Fees Receivable ABL19-09 (D Hospital)

Sep. 24, 2019: JCR Assigned Green 1 (preliminary Evaluation) to the 38th Bonds Issued by Ricoh Leasing; JCR Assigned Preliminary A Rating to Bonds of Topre; Affirmed A/Positive; JCR Affirmed A+/Positive, A+, Preliminary A+ and J-1 on THK; JCR Affirmed A/Stable, A, Preliminary A and J-1 on Ube Industries

Dec. 14, 2017: [Global Report] <Seminar Material>JAPAN: Economic Policy After General Election and Sovereign Credit Perspective for 2018 (held on Dec. 5, 2017)
Sep. 08, 2017: [Grobal Report] <Seminar Material>JCR Seminar; Sovereign Credit Analysis of JAPAN (held on Aug. 21, 2017)

Sep. 24, 2019: Revisions to Rating Methodology for Synthetic CDOs
Sep. 11, 2019: Participation in International Conference on China’s Capital Market
Sep. 04, 2019: JCR Has become an Approved Verifier for Climate Bonds Certification
Sep. 02, 2019: Rating/Outlook Change in August 2019
Jul. 09, 2019: Notice Regarding Personnel Transfers
Jun. 17, 2019: Notice Regarding Title Change of a Director and Appointment of a new Executive Officer
Jun. 04, 2019: Seminar Cooperation with China’s Golden Credit Rating