News Release

Mar. 27, 2015

JCR Affirmed AAA/Stable Long-term Issuer Rating on Kyushu University

Mar. 26, 2015

JCR's Opinion on Corrections in Summary of Financial Results by Showa Denko and SHOKO

JCR Removed CM; Affirmed ZENSHO HOLDINGS Rating at BBB-/Stable, BBB-, Preliminary BBB- and J-2

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

JCR Assigned AAA Ratings to AfDB's Notes

JCR Affirmed A+/Stable Long-term Issuer Rating and J-1+ Rating on CP of JSF Trust and Banking

JCR Affirmed AA-/Stable Long-term Issuer Rating and J-1+ Rating on CP of Japan Securities Finance

JCR's Opinion on JX Holdings' Revisions to Full-year Forecasts and Reporting of Impairment Losses

JCR Affirmed A/Stable Long-term Issuer Rating on Mortgage Corporation of Japan

Mar. 25, 2015

[ Asset Securitization Products ] JCR Assigned J-3 to Monthly Clear Card Shopping Receivable ABL <NLS> 15-03

[ Asset Securitization Products ] JCR Assigned J-1+ and J-2 to Hokuriku Bank C Corporation Bills Receivable ABL15-03

[ Asset Securitization Products ] JCR Assigned J-1 to Kimura Bills Receivable ABL15-03

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL15-03 (D Hospital)

[ Asset Securitization Products ]JCR Assigned J-1+ to MSNW Trust Certificate Series 15030

JCR Affirmed A-/Stable Long-term Issuer Rating and J-1 Rating on CP for SAN-AI OIL

JCR Affirmed BBB/BBB+ (FC/LC) Ratings on Hungary with Stable Outlook

JCR Affirmed BBB/BBB+ (FC/LC) Ratings on NBH with Stable Outlook

JCR Assigned Preliminary A+ Rating to Shelf Registration of TAISEI CORPORATION

Mar. 24, 2015

[ Asset Securitization Products ] JCR Assigned J-1+ to Saitama Resona Bank A Corporation Bills Receivable Senior Beneficial Interest 15-03

JCR Removed CM; Downgraded Rating on TOMY from #BBB[Negative] to BBB- with Stable Outlook

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

JCR Affirmed BBB+/Stable Long-term Issuer Rating on FIDEA Holdings
JCR Affirmed BBB+/Stable Long-term Issuer Rating on Shonai Bank
JCR Affirmed BBB/Stable Long-term Issuer Rating on Hokuto Bank

JCR Affirmed A/Stable Long-term Issuer Rating, A Rating on Bonds, Preliminary A Rating on Shelf Registration and J-1 Rating on CP of TAIYO NIPPON SANSO

JCR Assigned Preliminary BB+ Rating to Subordinated Loan of COSMO OIL

Mar. 23, 2015

[ Asset Securitization Products ] JCR Assigned Preliminary J-1 to Aso Shoji Bills Receivable ABL15-03

[ Asset Securitization Products ]JCR Assigned Preliminary J-1 to CATERPILLAR Kyushu Bills ABL15-03

[ Asset Securitization Products ] JCR Assigned J-1 to Hyakugo Bank B Corporation Bills Receivable ABL15-03

JCR Affirmed A-/Stable Long-term Issuer Rating and J-1 on CP for Nippon Steel Kowa Real Estate

JCR Affirmed AA/Stable Long-term Issuer Rating and AA Rating on Bonds of Nomura Real Estate Residential Fund

JCR Assigned Preliminary A- Rating to Shelf Registration of VALOR

JCR Affirmed A-/Stable Long-term Issuer Rating and J-1 Rating on CP of Idemitsu Credit

JCR's Opinion on Century Tokyo Leasing's Acquisition of Shares in CSI Leasing

Mar. 20, 2015

[ Asset Securitization Products ] JCR Assigned J-3 to Narasaki Stax Accounts Receivable ABL15-03

[ Asset Securitization Products ] JCR Affirmed J-1 on Medical Fees Receivable ABL Program (M Hospital)

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL15-03 (F Hospital)

JCR Affirmed BBB/Stable Long-term Issuer Rating on Aderans

JCR Affirmed A/Stable, A, Preliminary A and J-1 on SUMITOMO HEAVY INDUSTRIES

JCR Affirmed BBB/Stable Long-term Issuer Rating on Oenon Holdings

JCR Upgraded Rating on Nagoya Railroad from A-/Stable, A- and Preliminary A- to A/Stable, A and Preliminary A

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

JCR Affirmed A- Long-term Issuer Rating on OHSHO FOOD SERVICE; Revised Outlook from Stable to Negative

Mar. 19, 2015

[ Asset Securitization Products ]JCR Affirmed J-1 on Medical Fees Receivable ABL Program (E Hospital)

JCR Affirmed A+/Stable Long-term Issuer Rating on OITA BANK

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

JCR Affirmed A+/AA- (FC/LC) Long-term Issuer Ratings on Daejeon City
JCR Affirmed A+ Ratings on Bonds of Daejeon Riverside Expressway Funding

JCR Affirmed A+/Stable Long-term Issuer Rating on OBAYASHI CORPORATION

JCR Affirmed A+p/Stable Long-term Issuer Rating on SHIMIZU CORPORATION

JCR Affirmed BB+/Stable Long-term Issuer Rating on Ferrotec

JCR Affirmed A+/Stable Long-term Issuer Rating and A+ Rating on Bonds of TAISEI CORPORATION

Mar. 18, 2015

[ Asset Securitization Products ] JCR Assigned Preliminary J-1 to Hyakugo Bank B Corporation Bills Receivable ABL15-03

JCR Upgraded Long-term Issuer Rating on IINO KAIUN KAISHA from BBB/Positive to BBB+/Stable

JCR Assigned Preliminary AA- Rating to Shelf Registration of COCA-COLA WEST

JCR Upgraded Long-term Issuer Rating from BBB/Stable to BBB+/Stable and Bond Rating from BBB to BBB+ for TONAMI HOLDINGS

JCR's Opinion on Decision on decommissioning Nuclear Power Plants by 4 Power Companies

Mar. 17, 2015

[ Asset Securitization Products ]JCR Assigned Preliminary J-1+ to MSNW Trust Certificate Series 15030

JCR Upgraded Rating on Takashimaya from A/Stable and A to A+/Stable and A+; Affirmed J-1

JCR Assigned A- Rating to Undated Subordinated Bonds (Tier 1 with loss absorption clause) of Mitsubishi UFJ Financial Group

JCR Affirmed A/Stable Long-term Issuer Rating, A Rating on Bonds, Preliminary A Rating on Shelf Registration and J-1 Rating on CP of Nomura Real Estate Holdings

JCR Upgraded Rating on J. FRONT RETAILING from A/Stable, A and Preliminary A to A+/Stable, A+ and Preliminary A+; Affirmed J-1

JCR Affirmed A+/Stable Long-term Issuer Rating and A Rating on Subordinated Bonds of Musashino Bank

JCR Assigned Preliminary BBB+ Rating to Shelf Registration of KANEMATSU

Mar. 16, 2015

JCR's Opinion on Toyo Tire & Rubber's Failure to Meet Government-set Safety Standards

JCR's Opinion on SANKEI BUILDING's Acquisition of Hotel Operator

Mar. 13, 2015

[ Asset Securitization Products ] JCR Assigned J-1+ to Hokuriku Bank D Corporation Bills Receivable ABL15-03

JCR Assigned AA Rating to Bonds of ORIENTAL LAND

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

JCR Assigned AAA Rating to Bonds of Aichi Prefecture

JCR Withdraws BBB-/Stable Long-term Issuer Rating on OKAYA ELECTRIC INDUSTRIES

JCR Withdrew BBB-/Stable Rating on Adaro Indonesia

Mar. 12, 2015

JCR Affirmed A/Stable and J-1 on Sanyo Special Steel

JCR Assigned AA- Rating to Bonds of JCB

JCR Affirmed BBB/BBB+ (FC/LC) Ratings on Brazil; Revised Outlook to Negative

JCR Assigned A- Rating to Bonds of Tokyo Tatemono

Mar. 11, 2015

[ Asset Securitization Products ] JCR Assigned Preliminary J-1+ to Saitama Resona Bank A Corporation Bills Receivable Senior Beneficial Interest 15-03

JCR Affirmed AA/Stable Long-term Issuer Rating on Showa University

JCR's Opinion on Management Integration Talks Between FamilyMart and UNY

Mar. 10, 2015

Series 1502-B01

JCR Assigned Preliminary BBB+ Rating to Shelf Registration of Mitsui Engineering & Shipbuilding

JCR Assigned AAA Rating to Bonds of Aichi Prefecture

JCR Affirmed A+/Stable and A+ on EXEDY Corporation

JCR Affirmed BBB/Stable Long-term Issuer Rating on SHINNIHON CORPORATION

JCR Assigned A+ Rating to Bonds of Bank of Nagoya

Mar. 09, 2015

JCR's Opinion on Sompo Japan Nipponkoa's Capital Participation in SCOR

JCR Affirmed A+/Stable Long-term Issuer Rating, A+ Rating on Bonds and Preliminary A+ Rating on Shelf Registration of Kenedix Office Investment

Mar. 06, 2015

JCR Assigned A- Rating to Bonds of OKAMURA CORPORATION

JCR Assigned A+ Rating to Bonds of Don Quijote Holdings

Mar. 05, 2015

JCR Assigned A Rating to Subordinated Bonds (Tier 2 with contractual point of non-viability loss absorption feature) of SHIGA BANK

Mar. 04, 2015

JCR Upgraded Long-term Issuer Rating on Tsukuba Bank from BBB/Positive to BBB+/Stable

JCR Affirmed A/Stable Long-term Issuer Rating and A- Rating on Subordinated Bonds of SHIMIZU BANK

JCR Affirmed BBB+/Stable Long-term Issuer Rating and BBB+ Rating on Bonds of Shibusawa Warehouse

JCR Affirmed BBB+/Stable Long-term Issuer Rating on Chuo Warehouse

JCR Affirmed BBB+/Stable Long-term Issuer Rating on Yasuda Logistics

Mar. 02, 2015

JCR Affirmed A-/Stable Long-term Issuer Rating and A- Rating on Bonds of SENKO

JCR's Opinion on Nikon's Acquisition of Optos Plc

JCR Downgraded Long-term Issuer Rating on Sharp from #BBB-[Negative] to #BB+[Negative]; Maintains CM

Feb. 27, 2015

[ Asset Securitization Products ] JCR Assigned J-1+ to Bills Receivable ABL15-02 (A Corp. in Niigata)

[ Asset Securitization Products ] JCR Assigned J-1+ to Teral Bills Receivable ABL15-02

[ Asset Securitization Products ] JCR Assigned J-1 to Nohara Bills Receivable ABL15-02

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

JCR Affirmed AAAp Rating on EBRD