News Release

Aug. 26, 2026

JCR Affirmed A-/Stable Long-term Issuer Rating on Japan Medical AllianceNEW

JCR Affirmed A/Stable Long-term Issuer Rating on Nisshin OilliO GroupNEW

JCR Affirmed A/Stable Long-term Issuer Rating on TOMONY HD, TOKUSHIMA TAISHO BANK and KAGAWA BANKNEW

JCR Assigned AA- Rating to Bonds of Fuyo General LeaseNEW

JCR Affirmed AAA/Stable and J-1+ on NTT FINANCE; Assigned Preliminary AAA to Shelf RegistrationNEW

Aug. 25, 2026

JCR Affirmed BBB+ Long-term Issuer Rating on Sanken Electric; Revised Outlook to Negative

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

JCR Affirmed A-/Negative FC Long-term Issuer Rating on Canadian Solar

JCR Assigned A+ Rating to Bonds of ISUZU MOTORS

JCR Assigned A- Rating to Bonds of J-OIL MILLS

JCR Assigned AA- Rating to Bonds of ACOM

JCR Assigned Preliminary A+ Rating to Shelf Registration of Tokyo Tatemono

Change in Maximum Amount of EMTN Program of Sumitomo Mitsui Financial Group and Sumitomo Mitsui Banking; Affirmed AA and AA- on Sumitomo Mitsui Financial Group, AA and J-1+ on Sumitomo Mitsui Banking

JCR Assigned AA- to Ascent Finance Limited Series 2026-0012

Mizuho Bank: Evaluation of Conformity of Impact Deposit Framework

Hulic: Post-issuance Verification Report on Sustainability Linked Bond (Bonds no. 10)

Aug. 24, 2026

JCR Affirmed BBB+/Stable Long-term Issuer Rating on DAIKI ALUMINIUM INDUSTRY

JCR Affirmed AA/Stable Long-term Issuer Rating on TOYOTA BOSHOKU

JCR Affirmed A/Stable and J-1 on HEIWADO

JCR Affirmed A-/Stable and J-1 on NIPRO

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

JCR Affirmed AA+/Stable Long-term Issuer Rating on Toa Reinsurance

JCR Affirmed AA-/Stable Long-term Issuer Rating on Global One Real Estate Investment Corporation

FUKUCHI INDUSTRIES, The Hokkaido Bank: Second Opinion on Positive Impact Finance

Aug. 21, 2026

JCR Affirmed A-/Stable and J-1 on Daio Paper

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

JCR Affirmed BB/Stable (FC/LC) on Republic of Turkiye

JCR Assigned AA+ Rating to Bonds of ITOCHU

JCR Assigned AAA Rating to Bonds of West Nippon Expressway

Aug. 20, 2026

JCR Affirmed AA- and J-1+ on Meiji HD; Revised Outlook to Positive

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

JCR Affirmed AA-/Stable and J-1+ on MORI BUILDING

JCR Assigned AAA Rating to Bonds of JASSO

JCR Assigned Preliminary AA Rating to Shelf Registration of Sumitomo Mitsui Finance and Leasing

JCR Assigned AA+ to SPIRE SA Series 2026-490

JCR Assigned AA- to Bonds of HARP Issuer PLC Series 552

JCR Assigned AA- to Bonds of HARP Issuer PLC Series 553

THE SHIZUOKA BANK: Second Party Opinion on Shizugin Environment Finance Framework

HAC, The Juhachi-Shinwa Bank: Second Opinion on Positive Impact Finance

Aug. 19, 2026

JCR Affirmed BBB+/Stable Long-term Issuer Rating on TOWA BANK

JCR Assigned Preliminary AA Rating to Shelf Registration of Chugoku Electric Power

Aug. 18, 2026

JCR Upgraded Long-term Issuer Rating on RENOVA to BBB+/Stable

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

JCR Affirmed AAA/Stable Long-term Issuer Rating on Inter-American Development Bank

JCR Assigned AAA Rating to Bonds of TOYOTA FINANCE

[ Asset Securitization Products ] JCR Assigned Preliminary AAA to Beneficial Interest 202609 (Contract No. 94-82002)

Aug. 17, 2026

JCR Affirmed AA+/Stable and J-1+ on Electric Power Development

JCR Assigned Preliminary AA Rating to Shelf Registration of Sumitomo Realty & Development

JCR Assigned Preliminary AA- Rating to Shelf Registration of Hokkaido Electric Power

Aug. 14, 2026

JCR Upgraded Rating on Daishi Hokuetsu Financial Group and Daishi Hokuetsu Bank to #AA-/Positive; Continues Credit Monitor

JCR Affirmed #AA/Negative on Gunma Bank; Continues Credit Monitor

JCR Assigned Preliminary AA+ Rating to Shelf Registration of JAPAN TOBACCO

JCR Assigned Preliminary AA+ Rating to Shelf Registration of Mitsubishi Estate

Joint Green Bond Issuers (Local Governments): Assigned Green 1(Preliminary) to Joint Local Government Green Bond 8th

KUOE GLOBAL, THE KYOTO CHUO SHINKIN BANK: Second Opinion on Positive Impact Finance

Aug. 13, 2026

JCR Affirmed AAA/Stable (FC/LC) on United States of America

JCR Downgraded Rating on SPARX Biomass Green Project Bond Trust (Toki) to #BB/Negative; Continues Credit Monitor

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

Aug. 12, 2026

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

Tacoal, The Nanto Bank: Second Opinion on Positive Impact Finance

Aug. 10, 2026

JCR Affirmed A+/Stable and J-1 on Nomura Real Estate HD; Change in CP Maximum Amount

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

JCR Affirmed AA Rating on EMTN Program of MUFG Securities EMEA

Aug. 07, 2026

JCR Assigned J-1 Rating to CP of PERSOL HD

JCR Affirmed AA-/Stable Long-term Issuer Rating on ES-CON JAPAN

JCR Affirmed A-/Stable Long-term Issuer Rating on KYOEI STEEL

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

JCR Affirmed AA-/Stable and J-1+ on Takeda Pharmaceutical

JCR Affirmed AAA/Stable (FC/LC) on Singapore

JCR Assigned AA+ Rating to Bonds of Kansai Electric Power

JCR Assigned Preliminary A Rating to Subordinated Bonds of Sumitomo Forestry

JCR Assigned A Rating to Bonds of Chuo-Nittochi Group

JCR Assigned A+ Rating to Bonds of Orient Corporation

JCR Assigned AA- Rating to Bonds of Sumitomo Mitsui Auto Service

JCR Assigned Preliminary AA Rating to Shelf Registration of Tohoku Electric Power

ARAKAWA CHEMICAL INDUSTRIES: Post-issuance Verification Report on Sustainability Linked Bond

Daiichi Fujie, The Joyo Bank: Second Party Opinion on Sustainability Linked Loan

MUGEN ESTATE, THE NISHI-NIPPON CITY BANK: Second Opinion on Positive Impact Finance

Sumiyoshijidosha, The Hokkaido Bank: Second Opinion on Positive Impact Finance

Aug. 06, 2026

JCR Assigned A-/Stable (FC/LC) to Daishin Securities

JCR Affirmed A-/Stable Long-term Issuer Rating on African Export-Import Bank

JCR Assigned Preliminary AA- Rating to Subordinated Loan of National Mutual Insurance Federation of Agricultural Cooperatives

JCR Assigned AAA Rating to Bonds of Development Bank of Japan

JCR Assigned Preliminary AA Rating to Shelf Registration of AEON REIT Investment

JCR Assigned Preliminary AA- to Bonds of Zenkyoren 5th Subordinated Loan Securitization Company Limited

Aug. 05, 2026

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

JCR Affirmed A-/Stable Long-term Issuer Rating on IMPERIAL HOTEL

JCR's Rating Review of Five Expressway Companies

JCR Affirmed A+/Stable Long-term Issuer Rating on SANKEI REAL ESTATE

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

Aug. 04, 2026

JCR Placed Rating on NS UNITED KAIUN under Credit Monitor #A-/Positive

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

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

JCR Assigned BBB+ Rating to Bonds of Yixin Group

Kyushu Railway: Second Party Opinion on Sustainability Linked Finance Framework; Assigned Sustainability Finance Framework Evaluation: SU 1(F)

Nagano Prefecture: Reviewed Green Finance Framework Evaluation: Green 1(F)

Aug. 03, 2026

Tokyo Century to Make an Aircraft Leasing Subsidiary an Equity-Method Affiliate - No Impact on the Rating

JCR Assigned A+ Rating to Preferred Shares of Tokyo Century

Revisions to Structured Finance Rating Methodology "General Methodology"

JCR Upgraded Long-term Issuer Rating on NIPPON STEEL KOWA REAL ESTATE to A/Stable; Affirmed J-1 on CP