JCR is Registered as an NRSRO with the U.S.SEC under the Credit Rating Agency Reform Act

Sep. 25, 2007

On Sep.24, 2007 the registration of Japan Credit Rating Agency, Ltd.(JCR) with the U.S. Securities and Exchange Commission (U.S.SEC) as an Nationally Recognized Statistical Rating Organization (NRSRO), pursuant to the Credit Rating Agency Reform Act of 2006 and the rules thereunder, is granted.

In May, JCR received a "no-action letter" from U.S.SEC with respect to its representation to the public that it is a NRSRO. The Credit Rating Agency Reform Act of 2006 requires all current NRSROs to apply for registration under the new rules.

Consequently, the registration as an NRSRO with U.S.SEC enables U.S. government agencies to continue utilizing JCR's creditworthiness ratings of bond issuers for their regulatory purposes. Private groups, both in and outside the U.S., are also expected to increase their utilization of JCR's Internet-carried credit rating information.

Public portions of the JCR's NRSRO application will be posted shortly on http://www.jcr.co.jp/english/pdf/NRSRO.pdf

This development confirms that JCR is an active participant in the worldwide capital markets doing what it knows best.