News Release

Jan. 22, 2015

JCR Affirmed AA+/Stable Long-term Issuer Rating and AA+ on Bonds of Japan Student Services Organization

Jan. 21, 2015

JCR Downgraded TVO's Rating to AA-, Outlook Stable

JCR Downgraded PVO's Rating to AA-, Outlook Stable

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

JCR Assigned A- Rating to Bonds of Konoike Transport

JCR Assigned AAA Rating to Bonds of Japan Bank for International Cooperation

Jan. 20, 2015

[ Asset Securitization Products ] JCR Assigned Preliminary J-1 to Hyakugo Bank B Corporation Bills Receivable ABL15-01

[ Asset Securitization Products ] JCR Assigned J-3 to Narasaki Stax Accounts Receivable ABL15-01

JCR's Opinion on ITOCHU's Investment in CITIC

JCR Upgraded Long-term Issuer Rating on Nissan Chemical Industries from A/Stable to A+/Stable

JCR Affirmed J-2 Rating on CP of CMIC HOLDINGS

Jan. 19, 2015

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL15-01 (F Hospital)

JCR Affirmed A-/Stable Long-term Issuer Rating, A- on Bonds and J-1 on CP of SAPPORO HOLDINGS

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

JCR Affirmed AA- Ratings on POSCO

JCR Affirmed AA- Long-term Issuer Rating on ROHM; Revised Outlook from Negative to Stable

JCR Affirmed A+/Stable, A+, Pre. A+ and J-1 on Century Tokyo Leasing
JCR Affirmed A+/Stable and J-1 Rating on NIPPON CAR SOLUTIONS
JCR Affirmed A+/Stable and J-1 Rating on FUJITSU LEASING

Jan. 16, 2015

[ Asset Securitization Products ]JCR Assigned Preliminary J-1+ to MSNW Trust Certificate Series 15010

JCR Upgraded Rating on Mitsubishi Materials from BBB+/Stable, BBB+ and J-2 to A-/Stable, A- and J-1

JCR Assigned AA- Rating to Bonds of Daiwa House Residential Investment

JCR Withdraws A+ FC Long-term Issuer Rating on Hana Bank

JCR Affirmed A+/Stable Long-term Issuer Rating on Fukuoka Kogyo Daigaku

JCR Assigned A- Rating to Bonds of Orient Corporation

Jan. 15, 2015

JCR Assigned AAA Rating to Bonds of Aichi Prefecture

JCR Affirmed BBB/Stable Long-term Issuer Rating on Soken Chemical & Engineering

Jan. 14, 2015

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

JCR Affirmed AA+p/Stable Long-term Issuer Rating on Mitsubishi Estate

JCR Upgraded Rating on Mitsui Fudosan from AA-/Stable, AA-, Preliminary AA- to AA/Stable, AA, Preliminary AA; Affirmed J-1+ on CP

JCR Affirmed A/Stable Long-term Issuer Rating on FIRST BANK OF TOYAMA

JCR Upgraded Rating on Sumitomo Realty from A/Stable, A, BBB+, Preliminary A to A+/Stable, A+, A-, Preliminary A+; Affirmed J-1 on CP

JCR Affirmed A+/Stable Long-term Issuer Rating and A+ Rating on Bonds for NGK SPARK PLUG

Jan. 13, 2015

JCR Affirmed A/Stable Long-term Issuer Rating, A on Bonds, Preliminary A on Shelf Reg. and J-1 on CP for Mitsui Chemicals

JCR Upgraded Rating on Advance Residence Investment from AA-/Positive, AA- to AA/Stable, AA

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

JCR Affirmed A/Stable(FC) and A Rating on JPY bond of America Movil

JCR Affirmed A+/Stable, A+ and J-1 on ITO EN

Jan. 09, 2015

JCR Affirmed AA/Stable, AA, Preliminary AA and J-1+ on Sumitomo Electric Industries

JCR Assigned A- Rating to Bonds of TOBU RAILWAY

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

JCR Assigned AA- Rating to Bonds of Tohoku Electric Power

JCR Affirmed BBB+/Stable, BBB- and J-2 on Kawasaki Kisen

JCR Assigned AA- Rating to Bonds of Odakyu Electric Railway

JCR Assigned AAA Rating to Bonds of DBJ

Jan. 08, 2015

JCR Affirmed BBB/Stable Long-term Issuer Rating and BBB Rating on Bonds of SCREEN Holdings

Jan. 06, 2015

[ Asset Securitization Products ]JCR Assigned BBB+ Rating to ABL (Tranche A, B & C) of Accordia Golf Asset Godo Kaisha

JCR Affirmed A Rating on Specified Bonds of Meiji Yasuda Life 2011 Fund SPC
JCR Affirmed A Rating on Specified Bonds of Meiji Yasuda Life 2012 Fund SPC
JCR Affirmed A Rating on Specified Bonds of Meiji Yasuda Life 2013 Fund SPC
JCR Affirmed A Rating on Specified Bonds of Meiji Yasuda Life 2014 Fund SPC

JCR Affirmed AA- Rating on Specified Bonds of Nissay 2010 Fund SPC
JCR Affirmed AA- Rating on Specified Bonds of Nissay 2011 Fund SPC
JCR Affirmed AA- Rating on Specified Bonds of Nissay 2012 Fund SPC

JCR Affirmed A Rating on Specified Bonds of Sumitomo Life Fund Sec. SPC III
JCR Affirmed A Rating on Specified Bonds of Sumitomo Life Fund Sec. SPC IV
JCR Affirmed A Rating on Specified Bonds of Sumitomo Life Fund Sec. SPC V

JCR Assigned A/Stable Long-term Issuer Rating to Kenedix Retail REIT Corporation

Jan. 05, 2015

[ Asset Securitization Products ] JCR Assigned J-1+ to Teral Bills Receivable ABL14-12

Dec. 29, 2014

[ Asset Securitization Products ] JCR Assigned J-1 to Aso Shoji Bills Receivable ABL14-12

JCR Upgraded Don Quijote HD from A/Stable, A to A+/Stable, A+, Assigned Preliminary A+ to Shelf Registration, and Affirmed J-1 on CP

JCR Affirmed BBB-/Stable Long-term Issuer Rating and BBB- Rating on Bonds of NIHON CHOUZAI

JCR Affirmed A+ Ratings on Long-term Issuer Rating/Ability to Pay Insurance Claims and J-1+ Rating on CP for Meiji Yasuda Life Insurance; Revised Outlook from Stable to Positive

JCR Affirmed A+/Stable Long-term Issuer Rating/Ability to Pay Insurance Claims for SUMITOMO LIFE INSURANCE

JCR Affirmed AAp/Stable Long-term Issuer Rating/Ability to Pay Insurance Claims and J-1+ Rating on CP for Nippon Life Insurance

JCR Affirmed A+/Stable Long-term Issuer Rating/Ability to Pay Insurance Claims and J-1+ Rating on CP for Dai-ichi Life Insurance

JCR Affirmed A+/Stable Long-term Issuer Rating and J-1 Short-term Issuer Rating on kabu.com Securities

JCR Affirmed BBB/Stable and BBB on Monex Group
JCR Affirmed BBB/Stable and J-2 on Monex

Dec. 26, 2014

JCR Affirmed A Rating on Kurimoto Mega Solar Project Bond Trust 1 Beneficial Interest and Trust ABL

JCR Affirmed A Rating on JRE Mega Solar Project Bond Trust 1 Class B Beneficial Interest and Class B Trust ABL

JCR Affirmed BBB+ Rating on JRE Mega Solar Project Bond Trust 1 Class C Beneficial Interest

[ Asset Securitization Products ] JCR Assigned J-1 to Nohara Bills Receivable ABL14-12

JCR Affirmed A- Rating on JRE Mega Solar Project Bond Trust 1 Class A Beneficial Interest and Class A Trust ABL

JCR Affirmed J-1 Rating on CP of Nippon Steel & Sumikin Coated Sheet Corporation

JCR Affirmed AAA Rating on Bonds (guaranteed by Development Bank of Japan) of Suzuyo

JCR Affirmed A-/Stable, A-, Preliminary A- and J-1 on ANA HOLDINGS

JCR Affirmed A+/Stable Long-term Issuer Rating on Japan Net Bank

JCR Affirmed BBB+/Stable Long-term Issuer Rating on NIPPON CHEMI-CON

JCR Withdraws J-2 Rating on CP of UACJ Corporation

JCR Affirmed A-/Stable Long-term Issuer Rating and Preliminary A- Rating on Shelf Reg. for SQUARE ENIX HOLDINGS

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

JCR Assigned Preliminary AA- Rating to Shelf Registration of RICOH LEASING

JCR Downgraded the Ratings on Russia to BBB-, and simultaneously placed them under Credit Monitor Negative

Dec. 25, 2014

[ Asset Securitization Products ] JCR Assigned J-1+ and J-2 to Hokuriku Bank C Corporation Bills Receivable ABL14-12

[ Asset Securitization Products ] JCR Assigned J-1 to Kimura Bills Receivable ABL14-12

[ Asset Securitization Products ] JCR Assigned J-1+ to Saitama Resona Bank A Corporation Bills Receivable Senior Beneficial Interest 14-12

[ Asset Securitization Products ]JCR Assigned J-1+ to MSNW Trust Certificate Series 14120

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

JCR Affirmed BBB+/Stable Long-term Issuer Rating and BBB+ Rating on Bonds of PACIFIC INDUSTRIAL

JCR Affirmed A/Stable, A, Preliminary A and J-1 on TAKARA HOLDINGS

JCR Affirmed J-1+ Rating on CP of TOYOTA

JCR Affirmed BBB/Stable Long-term Issuer Rating on EIKEN CHEMICAL

JCR Removed CM; Affirmed A Ratings on Busan Bank

JCR Assigned Preliminary A+ Rating to Shelf Registration of DAIBIRU

Dec. 24, 2014

[ Asset Securitization Products ] JCR Assigned J-3 to Monthly Clear Card Shopping Receivable ABL <NLS> 14-12

JCR Affirmed CC/Negative Long-term Issuer Rating and CC Bond Rating for AvanStrate

JCR Affirmed BBB Rating on Shinsho Corporation; Revised Outlook from Stable to Positive, Affirmed J-2 Rating on CP

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

JCR Affirmed AAA/Stable Long-term Issuer Rating and AAA on Bonds for Japan Finance Corporation

Dec. 22, 2014

[ Asset Securitization Products ] JCR Assigned J-1 to Hyakugo Bank B Corporation Bills Receivable ABL14-12

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL14-12 (D Hospital)

JCR Affirmed A+p/Stable Long-term Issuer Rating and Ability To Pay Insurance Claims on Fukoku Mutual Life Insurance
JCR Affirmed A+/Stable Long-term Issuer Rating and Ability to Pay Insurance Claims on Fukokushinrai Life Insurance

JCR Affirmed AA/Stable Long-term Issuer Rating and J-1+ Rating on CP of Tokyo Electron

JCR Affirmed A-/A+ (FC/LC) Ratings on Mexico

JCR Assigned AA Ratings to TRY and ZAR Notes of CAF

Dec. 19, 2014

[ Asset Securitization Products ] JCR Assigned Preliminary J-1 to Aso Shoji Bills Receivable ABL14-12

[ Asset Securitization Products ] JCR Assigned J-3 to Narasaki Stax Accounts Receivable ABL14-12

Dec. 18, 2014

Series 50152

Series 50153