News Release

Mar. 19, 2013

[ Asset Securitization Products ] JCR Assigned Preliminary J-1 to CATERPILLAR Kyushu Bills ABL13-03

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL13-03 (C Hospital)

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

[ Asset Securitization Products ] JCR Assigned J-3 to Narasaki Stax Accounts Receivable ABL13-03

JCR Affirmed A-/Stable and J-1 Rating on Idemitsu Credit

JCR Assigned BBB- Rating to Subordinated Bonds of Fukushima Bank

Mar. 18, 2013

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL13-03 (F Hospital)

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

JCR Affirmed BBB/Positive Long-term Issuer Rating on Sanyo Electric Railway

JCR Affirmed A/Stable, A and J-1 Rating on Takashimaya

JCR Affirmed A/Stable, A, Pre. A and J-1 Rating on J. Front Retailing

JCR Upgraded Long-term Issuer Rating on Hamamatsu Photonics from A/Positive to A+/Stable

Mar. 15, 2013

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL13-03 (E Hospital)

JCR Assigned Preliminary J-1+ to MSNW Trust Certificate Series 13030

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL13-03 (D Hospital)

JCR Affirmed A Ratings on France Telecom and Revised Outlook to Negative from Stable

JCR Affirmed AA/Stable and AA on Nomura Real Estate Residential Fund

JCR Affirmed A/A (FC/LC) Long-Term Issuer Ratings on Portugal with Negative Outlook

JCR Affirmed AAA/AAA (FC/LC) Ratings on Japan

JCR Affirmed A- Ratings on Renault

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

JCR Assigned BBB+ Rating to Subordinated Loan of Minato Bank

JCR Affirmed A/Stable Rating on Tomakomai Shinkin Bank

JCR Affirmed BBB+/Stable and BBB+ Rating on Shibusawa Warehouse

JCR Assigned AAA Rating to Bonds of Aichi Prefecture

JCR Affirmed A-/Stable and A- Rating on Okamura Corporation

Mar. 14, 2013

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

JCR Assigned A Rating to Bonds of Sumitomo Realty & Development

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

JCR Assigned A- Rating to Bonds of Nipro

Mar. 13, 2013

[ Asset Securitization Products ] JCR Assigned Pre. J-1+ to Bills Receivable Beneficial Interest 13-03 (A Corp.)

JCR Assigned BBB Rating to Bonds of Tonami Holdings

JCR Removed CM; Downgraded Rating on Nisshin Steel from #A/Negative to A- with Stable Outlook

Mar. 12, 2013

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL Program (B Hospital)

JCR Affirmed A Rating on Konami; Revised Outlook to Stable

JCR Affirmed A+/Stable Rating on Sumitomo Warehouse

JCR Affirmed A/Stable, A, Pre. A and J-1 Rating on Sumitomo Heavy Industries

Mar. 11, 2013

JCR Assigned J-1 Rating to CP of Shutoken Leasing

JCR Affirmed A-/Stable Rating on Nagoya Railroad

Mar. 08, 2013

[ Asset Securitization Products ] JCR Assigned BBB Rating to ABL of WBBL

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

JCR Upgraded Rating on Kenedix Realty Investment from A/Positive to A+/Stable

JCR Assigned AA- Rating to Bonds of Mitsui Fudosan

JCR Assigned AA- Rating to Bonds of ITOCHU

JCR Assigned AAA Rating to Bonds of NTT DoCoMo

JCR Assigned BBB+ Rating to Bonds of Tokyo Tatemono

Mar. 07, 2013

JCR Assigned A Rating to Bonds of SCSK Corporation

JCR Assigned A Rating to Bonds of Hankyu Hanshin Holdings

JCR Downgraded Rating on Daido Fire & Marine from A-/Negative to BBB+/Stable

JCR Affirmed BBB-/Stable Long-term Issuer Rating on Showa Aircraft Industry

Mar. 06, 2013

JCR Assigned A- Rating to Bonds of Sapporo Holdings

JCR Assigned A Rating to Bonds of Fuyo General Lease

Mar. 05, 2013

[ Asset Securitization Products ] JCR Assigned J-1+ to D Corporation Bills Receivable ABL13-03

JCR Downgraded Rating on Noritake from A/Stable to A-/Stable

JCR Affirmed A-/Stable and J-1 on Mitsui Sugar

Mar. 04, 2013

JCR Affirmed AAA/Stable, AAA and Pre. AAA Rating on NTT DoCoMo

JCR Affirmed J-1+ Rating on CP of Nippon Telegraph and Telephone West

JCR Affirmed J-1+ Rating on CP of Nippon Telegraph and Telephone East

JCR Affirmed A-/Stable Rating on Takeda General Hospital

JCR Affirmed A/Stable Long-term Issuer Rating on Hokuetsu Kishu Paper

Mar. 01, 2013

JCR Upgraded Ratings on Poland from A-/A (FC/LC) to A/A+

JCR's Opinion on Change to Parent Company of Nomura Real Estate Holdings

JCR Affirmed A/Stable Rating on First Bank of Toyama

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

JCR Assigned BBB+ Rating to Bonds of Nankai Electric Railway

Feb. 28, 2013

[ Asset Securitization Products ] JCR Assigned J-1 to Nohara Bills Receivable ABL13-02

[ Asset Securitization Products ] JCR Assigned J-1+ to Bills Receivable ABL13-02 (A Corp. in Niigata)

[ Asset Securitization Products ] JCR Assigned J-1+ to Teral Bills Receivable ABL13-02

[ Asset Securitization Products ] JCR Assigned J-1 to Molten Bills Receivable ABL13-02

JCR Withdraws BBB/Stable Long-term Issuer Rating on UCS

JCR Affirmed AAA/AAA (FC/LC) Long-Term Issuer Ratings on Germany

JCR Withdraws BBB Long-term Issuer Rating on Tokyo Derica

JCR Affirmed AA-/Stable Long-term Issuer Rating on Benesse Holdings

JCR Affirmed BBB+/Stable Rating on Settsu Suito Shinkin Bank

JCR Withdrawn D Ratings on Elpida Memory

Feb. 27, 2013

[ Asset Securitization Products ] JCR Assigned J-1 to Aso Shoji Bills Receivable ABL13-02

[ Asset Securitization Products ] JCR Assigned AA Rating to 1st Series Installments & Leases Receivable ABL (Nakamichi Leasing)

[ Asset Securitization Products ] JCR Assigned J-1 to Hayakawa Rubber Bills Receivable ABL13-02

JCR Assigned BBB Rating to Subordinated Bonds of Tokyo Star Bank

JCR Affirmed A-/Stable Foreign Currency Long-term Issuer Rating on AEON Thana Sinsap (Thailand) Public Company Limited

JCR Assigned A Rating to Bonds of Mitsui-Soko

JCR Assigned Preliminary A+ Rating to Shelf Reg. of Daibiru

Feb. 26, 2013

[ Asset Securitization Products ] JCR Assigned J-1 to CATERPILLAR Kyushu Bills ABL13-02

[ Asset Securitization Products ] JCR Assigned J-1 to Hyakugo Bank B Corporation Bills Receivable ABL13-02

JCR Affirmed AA/Stable, AA, Pre. AA and J-1+ Rating on Sumitomo Electric Industries

JCR Assigned AAA Rating to Bonds of Suzuyo

JCR Affirmed BBB/Stable Rating on TOMY

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

JCR Assigned A Rating to Bonds of Acom

Feb. 25, 2013

[ Asset Securitization Products ]JCR Assigned J-1+ to MSNW Trust Certificate Series 13020

JCR Withdraws J-1 Rating on CP of Mori Building

Feb. 22, 2013

[ Asset Securitization Products ]JCR Affirmed J-1 on Dispensing Fees Receivable ABL Program (Nanba Pharmacy)

[ Asset Securitization Products ] JCR Assigned J-3 to Monthly Clear Card Shopping Receivable ABL13-02

JCR Assigned #A[Negative] and Preliminary #A[Negative] to Softbank

JCR Withdraws A-/Stable Long-term Issuer Rating on Shizuoka Shinkin Bank

JCR Assigned AA Rating to Bonds of Kyushu Electric Power

JCR Assigned AA- Rating to Bonds of Sekisui House SI Investment Corporation

JCR Affirmed AA-/Stable, AA-, Preliminary AA-, and J-1+ on Asahi Group Holdings

JCR Assigned A Rating to Bonds of Sumitomo Realty & Development

Feb. 21, 2013

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