News Release

Jul. 22, 2026

JCR Affirmed A+ Long-term Issuer Rating on Nochu JAML REIT Investment Corporation; Revised Outlook to PositiveNEW

JCR Affirmed A-/Stable Long-term Issuer Rating on GEO HDNEW

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

JCR Affirmed BB+/Stable Long-term Issuer Rating on YAMADA SERVICER SYNTHETIC OFFICENEW

JCR Affirmed S3 Special Servicer Rating on YAMADA SERVICER SYNTHETIC OFFICENEW

JCR Affirmed BBB+/Stable (FC/LC) on RECNEW

Jul. 21, 2026

JCR's Rating Review of Money Market Brokers

JCR Affirmed A/Stable and J-1 on Central Tanshi

JCR Affirmed A/Stable and J-1 on Tokyo Tanshi

JCR Affirmed A/Stable and J-1 on Ueda Yagi Tanshi

JCR Affirmed BBB+/Stable Long-term Issuer Rating on Central Tanshi FX

JCR Affirmed A+/Stable Long-term Issuer Rating on Africa Finance Corporation

Sohki, The Shoko Chukin Bank: Second Opinion on Positive Impact Finance

Jul. 17, 2026

JCR Assigned A/Stable (FC/LC) to LS Corp.

JCR Upgraded Long-term Issuer Rating on Mitsui Kinzoku to A+/Stable; Affirmed J-1 on CP

JCR Affirmed A-/Stable FC Long-term Issuer Rating on Eastern Water Resources Development and Management

JCR Affirmed BBB+/Stable Long-term Issuer Rating on ROYAL HD

JCR Affirmed AA-/Stable and J-1+ on ACOM

JCR Assigned A Rating to Bonds of ANA HD

JCR Assigned BBB+ Rating to Bonds of Integrasi Jaringan Ekosistem

JCR Assigned A+ Rating to Bonds of Takashimaya

JCR Assigned AA Rating to Bonds of Chugoku Electric Power

JCR Assigned A Rating to Bonds of TEPCO Power Grid

JCR Assigned A Rating to Bonds of Hokuetsu Corporation

JCR Assigned AA- Rating to Bonds of LY Corporation

JCR Assigned AAA Rating to Bonds of NTT TC Leasing

JCR Assigned AA- Rating to Bonds of Credit Saison

JCR Assigned AAA Rating to Bonds of TOYOTA FINANCE

JCR Assigned A- Rating to Bonds of Premium Group

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

JCR Assigned AA Rating to Bonds of KDX Realty Investment Corporation

JCR Affirmed BBB+ on Jointly Operated Designated Money Trust NF1

JCR Affirmed BBB+ on Jointly Operated Designated Money Trust NF2

Izumiyama Ringyo, Aomori Michinoku Bank: Second Opinion on Positive Impact Finance

Jul. 16, 2026

JCR Assigned J-1+ Rating to CP of TAISEI

JCR Affirmed A/Stable and J-1 on PENTA-OCEAN CONSTRUCTION

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

JCR Assigned A+ Rating to Bonds of Tokyu Fudosan HD

JCR Assigned A Rating to Bonds (Tier 1 with loss absorption clause) of Mizuho Financial Group

JCR Assigned Preliminary A- to NEPTUNE LEASING1 CO., LTD./NEPTUNE LEASING2 CO., LTD. ABL

Jul. 15, 2026

JCR Assigned BBB/Stable (FC/LC) to Piramal Finance

JCR Affirmed AA-/Stable Long-term Issuer Rating on Fukuoka REIT Corporation

JCR Affirmed AA-/Stable (FC/LC) on Chile

JCR Assigned AA+ Rating to Bonds of Kansai Electric Power

Change in CP Maximum Amount of Keikyu; Affirmed J-1

Jul. 14, 2026

JCR Assigned A-/Stable (FC/LC) to GT Capital HD

JCR Affirmed A- and J-1 on UACJ; Revised Outlook to Positive

JCR Affirmed A- and J-1 on Kyoto Shinkin Bank; Revised Outlook to Negative

JCR Affirmed BBB+/Stable Long-term Issuer Rating on FUJIKURA KASEI

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

JCR Affirmed BBB-/Stable (FC) and BBB/Stable (LC) on Brazil

JCR Affirmed A+/Stable Long-term Issuer Rating on Healthcare & Medical Investment Corporation

Jul. 13, 2026

JCR Affirmed BBB+/Stable and J-2 on Daiei Real Estate & Development

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

JCR Assigned Preliminary A+ Rating to Shelf Registration of NICHIREI

Jul. 10, 2026

JCR Affirmed BBB+ Long-term Issuer Rating on KYORITSU MAINTENANCE; Revised Outlook to Positive

JCR Affirmed A-/Stable and J-1 on SINANEN HD

JCR Affirmed A+/Stable Long-term Issuer Rating on PERSOL HD

JCR Affirmed AA/Stable Long-term Issuer Rating on AEON REIT Investment Corporation

JCR Assigned AA- Rating to Bonds of ES-CON JAPAN

JCR Assigned A+ Rating to Bonds of YOKOHAMA MINATOMIRAI RAILWAY

JCR Assigned A- Rating to Bonds of Premium Group

JCR Assigned AA Rating to Bonds of Mitsubishi Estate Logistics REIT Investment Corporation

JCR Assigned Preliminary A Rating to Shelf Registration of SoftBank Group

Change in CP Maximum Amount of Sumitomo Electric Industries; Affirmed J-1+

Jul. 09, 2026

JCR Affirmed A/Stable and J-1 on DIC

JCR Assigned A+ Rating to Bonds of EXEDY

JCR Assigned A- Rating to Bonds of Kintetsu Group HD

JCR Assigned AA- Rating to Bonds of RICOH LEASING

JCR Assigned AAA Rating to Bonds of East Nippon Expressway

JCR Downgraded Rating on BRS Mega Solar Project Bond Trust 1 Beneficial Interest and Trust ABL to #BB+/Negative; Continues Credit Monitor

Results of Review of Structured Finance Products (Excluding Those to Which Credit Ratings Are Assigned) June 2026

Jul. 08, 2026

JCR Affirmed A+ and J-1 on NIKON; Revised Outlook to Negative

JCR Affirmed A-/Stable Long-term Issuer Rating on TOKYO ENERGY & SYSTEMS

JCR Affirmed AA/Stable Long-term Issuer Rating on Tokyo Waterfront Area Rapid Transit

JCR Affirmed A-/Stable Long-term Issuer Rating on Tokyo Kiraboshi Financial Group and Kiraboshi Bank

JCR Assigned AA Rating to Bonds of Suntory HD

JCR Assigned AAA Rating to Bonds of Central Nippon Expressway

JCR Assigned AAA Rating to Bonds of Development Bank of Japan

Jul. 07, 2026

SAPPORO BREWERIES to Enter Into a Strategic Partnership with Carlsberg - No Impact on the Rating

JCR Affirmed A+/Stable FC Long-term Issuer Rating on America Movil

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

JCR Affirmed AA+/Stable Long-term Issuer Rating on NARITA INTERNATIONAL AIRPORT

JCR Affirmed AA+/Stable Long-term Issuer Rating on NEW KANSAI INTERNATIONAL AIRPORT and KANSAI INTERNATIONAL AIRPORT LAND

JCR Affirmed AA-/Stable Long-term Issuer Rating on JINUSHI PRIVATE REIT

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

Jul. 06, 2026

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

Jul. 03, 2026

JCR Upgraded FC/LC Long-term Issuer Rating on Canter Fizgerald, BGC Group and NEWMARK GROUP to A-/Stable

JCR Affirmed AA- Long-term Issuer Rating on San-in Godo Bank; Revised Outlook to Negative

JCR Affirmed A+/Stable and J-1 on Daicel

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

JCR Affirmed AA/Stable Long-term Issuer Rating on Japan Logistics Fund

JCR Assigned AA+ Rating to Bonds of Kansai Electric Power

JCR Assigned A Rating to Bonds of Kobe Steel

JCR Assigned AA Rating to Bonds of Kyushu Electric Power

JCR Assigned A+ Rating to Bonds of Denka

JCR Assigned AA Rating to Bonds of Tohoku Electric Power

JCR Assigned AA Rating to Bonds of Marubeni

JCR Assigned AA Rating to Bonds of Resona HD

JCR Assigned Preliminary AA- Rating to Bonds (Tier 2 with loss absorption clause) of Mitsubishi UFJ Financial Group