News Release

Apr. 26, 2024: JCR Upgraded Rating on NIPPON SANSO HD to AA-/Stable and J-1+; JCR Affirmed AA-/Stable Long-term Issuer Rating on Kenedix; JCR Affirmed AA+/Stable Long-term Issuer Rating on BRIDGESTONE; JCR Affirmed A-/Stable Long-term Issuer Rating on SHIMIZU BANK; JCR Affirmed AA-/Stable and J-1+ on JAPAN SECURITIES FINANCE; JCR Affirmed AA-/Stable and J-1+ on JSF Trust and Banking; JCR Assigned Preliminary AA- Rating to Shelf Registration of Kyushu Electric Power; JCR Upgraded Azusa Limited Series 504 to BBB+; [ Asset Securitization Products ] JCR Assigned J-1 to Medical Treatment Fees Receivable ABL 24-04 (D Hospital); JCR Assigned AA- to SPIRE SA Series 2024-166

Apr. 25, 2024: JCR Affirmed A-/Stable Long-term Issuer Rating on ARATA; JCR Affirmed A+/Stable Long-term Issuer Rating on KONAMI GROUP; JCR Affirmed AA+/Negative Long-term Issuer Rating on Shoko Chukin Bank; JCR Affirmed AAA/Stable (FC/LC) on United Kingdom; JCR Affirmed AAA/Stable (FC/LC) on Finland; JCR Affirmed AAA/Stable Long-term Issuer Rating on Inter-American Development Bank; JCR Assigned Preliminary AA Rating to Shelf Registration of Resona HD; JCR Assigned AA to Libra A Limited Series C049; JCR Provided a Second Opinion to Positive Impact Finance Provided by The Shoko Chukin Bank to koyaguchi express; JCR Reviewed Green Financing Framework of MIRAI; Development of JCR Transition Strategies

Apr. 24, 2024: JCR Affirmed A-/Stable Long-term Issuer Rating on RYODEN; JCR Affirmed AA-/Stable Long-term Issuer Rating on Kokushikan

Apr. 23, 2024: JCR Affirmed A-/Stable and J-1 on SAPPORO HD; JCR Assigned A+ Rating to Bonds of RYOHIN KEIKAKU; [ Asset Securitization Products ] JCR Upgraded Securitization of Loans Receivable 202203 to AA; [ Asset Securitization Products ] JCR Assigned J-3 to Narasaki Stax Accounts Receivable ABL 24-04; JCR Assigned AA- to Sylph Limited Series 60161; JCR Assigned AA- to SPIRE SA Series 2024-152; JCR Provided a Second Party Opinion on Sustainability Linked Loan Conducted by The Joyo Bank to AGER

Apr. 22, 2024: JCR Affirmed BBB+/Stable and J-2 on JK HD; JCR Affirmed A+/Stable Long-term Issuer Rating on YOKOHAMA MINATOMIRAI RAILWAY; JCR Affirmed A/Stable Long-term Issuer Rating on Nanto Bank; JCR Affirmed A/Stable Long-term Issuer Rating on ESR Japan REIT; JCR Provided a Second Opinion to Positive Impact Finance Framework of The Nanto Bank; JCR Provided a Second Opinion to Positive Impact Finance Provided by The Hokkaido Bank to Matsubarasangyo

Apr. 19, 2024: JCR Assigned A-/Stable Long-term Issuer Rating to IMPERIAL HOTEL; JCR Assigned A-/Stable FC Long-term Issuer Rating to TF International Securities Group; JCR Affirmed BBB Long-term Issuer Rating on TOTTORI BANK; Revised Outlook to Positive; JCR Affirmed BBB-/Negative Long-term Issuer Rating on NIPPON CHEMI-CON; JCR Affirmed AA-/Stable Long-term Issuer Rating on Maruichi Steel Tube; JCR Affirmed AA-/Stable Long-term Issuer Rating on LJPFGK; JCR Assigned A Rating to Bonds of Kobe Steel; JCR Assigned A Rating to Bonds of SoftBank Group; JCR Assigned A Rating to Bonds of Tokyo Tatemono; JCR Assigned AA- Rating to Bonds of Marubeni; JCR Assigned AA- Rating to Bonds of Fuyo General Lease; JCR Assigned A to SPIRE SA Series 2024-181; JCR Provided a Second Party Opinion on Sustainability Linked Loan Conducted by The Bank of Kyoto to OZO kagakugiken

Apr. 18, 2024: JCR Affirmed A- Long-term Issuer Rating on Ehime Bank; Revised Outlook to Stable; JCR Affirmed AA-/Stable and J-1+ on Asahi Group HD; JCR Assigned AA- Rating to Bonds of JERA; JCR Assigned Preliminary A Rating to Shelf Registration of KYUSHU LEASING SERVICE; JCR Affirmed J-1 on Power Trust Neo SoftBank Group; JCR Upgraded ZEST Investments B Series 1508-B01, 1511-B01, 1601-B03, 1602-B01, 1602-B02, 1603-B01, 1605-B01 and 1605-B02 to A; JCR Upgraded Nomura Trust and Banking Series 125, 132, 134, 136 and 146 Unsecured Trust Bond to A; JCR Upgraded Loans for Nomura Trust and Banking Trust Account 1169041 and 1169045 to A; JCR Upgraded Mirach Limited Series 1910-M01 and 1910-M02 to A; JCR Upgraded Ascent Finance Limited Series 2019-1020 and 2019-1033 to A; [ Asset Securitization Products ] JCR Upgraded Ganymede Limited Series 2023-6 to A; JCR Upgraded Ganymede Limited Series 2023-47 to A

Apr. 17, 2024: JCR Upgraded Long-term Issuer Rating on Gravity AH to AA/Stable; JCR Affirmed A+ Long-term Issuer Rating on Keisei Electric Railway; Revised Outlook to Positive; JCR Affirmed AA/Stable Long-term Issuer Rating on Gunma Bank

Apr. 16, 2024: JCR Affirmed A-/Stable Long-term Issuer Rating on Tokyo Kiraboshi Financial Group and Kiraboshi Bank; JCR Affirmed AA/Stable Long-term Issuer Rating on Sekisui House Reit; JCR Assigned AA- to Commitment Line of PASMO; JCR Assigned #A+/Nagative to Azusa Limited Series 516; [ Asset Securitization Products ] JCR Affirmed AAA on JHF-guaranteed RMBS ABL Program and RMBS ABL Program (00013881)

Apr. 15, 2024: JCR Affirmed A-/Stable Long-term Issuer Rating on Nittetsu Mining; JCR Assigned Preliminary A Rating to Subordinated Bonds of Takeda Pharmaceutical; JCR Provided a Second Opinion to Positive Impact Finance Provided by The Shoko Chukin Bank to ota-mokuzai; JCR Provided a Second Opinion to Positive Impact Finance Provided by The Shoko Chukin Bank to Tsuta Seisakusho