News Release

Nov. 01, 2012

JCR Assigned A-/Stable Long-term Issuer Rating to Shiba Shinkin Bank

JCR Affirmed A/Stable Rating on Amagasaki Shinkin Bank

Oct. 31, 2012

[ Asset Securitization Products ] JCR Assigned J-1 to Nohara Bills Receivable ABL12-10

[ Asset Securitization Products ] JCR Assigned J-1 to Molten Bills Receivable ABL12-10

JCR Withdraws #BBB/Negative Long-term Issuer Rating on Kanto Denka Kogyo

JCR Withdraws AA-/Stable Long-term Issuer Rating and J-1+ Rating on JFE Shoji Trade

JCR Assigned A+ Preliminary Rating to Bond of HCS

JCR Assigned A+/Stable Long-term Issuer Rating to Seino Holdings

Oct. 30, 2012

[ Asset Securitization Products ] JCR Assigned J-1 to Hayakawa Rubber Bills Receivable ABL12-10

[ Asset Securitization Products ] JCR Assigned J-1 to Aso Shoji Bills Receivable ABL12-10

JCR Assigned A- Rating to Bonds of Tokyu Land Corporation

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

JCR Affirmed A-/Stable Rating on MIRAIT Holdings

JCR Affirmed BBBp/Stable Long-term Issuer Rating on NDS

Oct. 29, 2012

[ Asset Securitization Products ] JCR Assigned J-1 Rating to Ferry Road ETC Card Receivable ABL Program

JCR Affirmed A/Stable Long-term Issuer Rating on BOT Lease

JCR Affirmed A/Stable and A on Daiichikosho

JCR Affirmed A+/Stable Long-term Issuer Rating on Nissan Financial Services

JCR Affirmed AA-/Stable Long-term Issuer Rating on Toyota Tsusho

JCR Affirmed A+/Stable Long-term Issuer Rating on Nissan Motor

JCR Downgraded Rating on Arisawa Mfg. from BBB+/Negative to BBB/Negative

Oct. 26, 2012

JCR Assigned A- Rating to Bonds of Mori Building

JCR Affirmed A/Stable Rating on Aomori Bank

JCR Affirmed A-/Stable and BBB+ Rating on Michinoku Bank

JCR Affirmed BBB-/Stable Long-term Issuer Rating on Okaya Electric Industries

JCR Assigned AA+ Rating to Bonds of Japan Student Services Organization

JCR Assigned AA Rating to Bonds of Daiwa House Industry

JCR Assigned A-/Stable Long-term Issuer Rating to Morinaga

Oct. 25, 2012

[ Asset Securitization Products ] JCR Assigned J-1 to Hyakugo Bank B Corporation Bills Receivable ABL12-10

[ Asset Securitization Products ]JCR Assigned J-1+ to MSNW Trust Certificate Series 12100

JCR Assigned A+ Rating to Bonds of Keikyu

JCR Assigned AA- Rating to Bonds of Sumitomo Mitsui Trust Bank

JCR Affirmed A/Stable, A, Preliminary A and J-1 Rating on Denki Kagaku Kogyo

JCR Assigned AA- Rating to Bonds of Mitsubishi UFJ Lease & Finance Company

JCR Affirmed A Ratings on Busan Bank

JCR Affirmed A/Stable Long-term Issuer Rating on Nishimatsuya Chain

Oct. 24, 2012

[ Asset Securitization Products ] JCR Assigned J-3 to Narasaki Stax Accounts Receivable ABL12-10

JCR Affirmed A/Stable Rating on Okazaki Shinkin Bank

JCR Affirmed A-/Stable and BBB+ Rating on Ehime Bank

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

JCR Assigned A- Rating to Subordinated Bonds of Taiko Bank

JCR Affirmed A+/Stable Rating on Hekikai Shinkin Bank

JCR Affirmed AA-/Stable and AA- on Advance Residence Investment Corporation

JCR Affirmed AA/Stable, AA and Pre. AA Rating on Asahi Kasei

JCR Affirmed AA- Rating on Euro Medium Term Note Programme of Mitsubishi UFJ Lease & Finance Company

JCR's Opinion on Tender Offer by KDDI and Sumitomo Corp. for shares of Jupiter Telecommunications

JCR Assigned AA-/Stable Long-term Issuer Rating on Daiwa House REIT Investment Corporation

Oct. 23, 2012

[ Asset Securitization Products ] JCR Assigned Pre. J-1 to Aso Shoji Bills Receivable ABL12-10

[ Asset Securitization Products ] JCR Assigned J-3 to Monthly Clear Card Shopping Receivable ABL12-10

JCR Upgraded Rating on Kyoritsu Maintenance from BBB-/Stable to BBB/Stable

JCR Assigned AA Rating to Bonds of Kyushu Electric Power

Oct. 22, 2012

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL12-10 (C Hospital)

[ Asset Securitization Products ] JCR Assigned Pre. J-1 to Hyakugo Bank B Corporation Bills Receivable ABL12-10

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL12-10 (Asahikawa Sanai HP)

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

JCR Affirmed AAA/Stable Long-term Issuer Rating on Okinawa Electric Power Company

JCR Affirmed BBB/Stable Rating on Kappa Create Holdings

JCR Affirmed BBB+/Stable Rating on Belluna

Oct. 19, 2012

JCR Assigned Preliminary J-1+ to MSNW Trust Certificate Series 12100

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

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

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL12-10 (F Hospital)

JCR Assigned BBB Rating to Subordinated Bonds of Tokyo Star Bank

JCR Affirmed A/A+ (FC/LC) Long-term Issuer Ratings on Malaysia

JCR Assigned BBB Rating to Bonds of Daikyo

JCR Assigned A Rating to Bonds of Sumitomo Realty & Development

JCR Assigned AA- Rating to Bonds of Mizuho Corporate Bank

JCR Affirmed BBB+/Stable and BBB+ on Makino Milling Machine

JCR Assigned J-1 Rating to CP of Japan Atomic Power Company

Oct. 18, 2012

JCR Assigned AA Rating to Bonds of Sumitomo Mitsui Banking Corporation

JCR Assigned A- Rating to Subordinated Bonds of SBI Sumishin Net Bank

JCR Assigned A Rating to Bonds of Hankyu Hanshin Holdings

JCR Affirmed A+/Stable and A+ on Konica Minolta Holdings

Oct. 17, 2012

JCR Placed Rating on Receivable Against SBM(091228) under Credit Monitor #A/Negative

JCR Placed Rating on Receivable Against SBM(100331) under Credit Monitor #A/Negative

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL12-10 (I Hospital)

JCR Placed Rating on Receivable Against SBM(080630) under Credit Monitor #A/Negative

JCR Placed Rating on Receivable Against SBM(091204) under Credit Monitor #A/Negative

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL12-10 (E Hospital)

JCR Assigned A Rating to Bonds of Nifco

JCR Assigned A-/Stable Long-term Issuer Rating to Heiwa Real Estate REIT

JCR Affirmed A-/Stable, A-, Pre. A- and J-1 Rating on Keihan Electric Railway

JCR Removed CM; Upgraded Rating on Sankei Building from #A/Positive to A+/Stable Outlook; Assigned Preliminary A+ Rating to Shelf Registration

JCR Assigned AA Rating to Bonds of Kansai Electric Power

Oct. 16, 2012

Series 74

JCR Upgraded Rating on Jupiter Telecommunications from A/Stable to A+/Stable

JCR Assigned A+ Rating to Bonds of Mitsui Chemicals

JCR Assigned AA+ Rating to Bonds of Electric Power Development

Oct. 15, 2012

JCR Affirmed BBB+/Stable, BBB+ and J-2 Rating on Hanwa

JCR Affirmed AA-/Stable Long-term Issuer Rating and J-1+ Rating on Ricoh Leasing Company, Ltd.

JCR Assigned Preliminary A Rating to Shelf Reg. of Juroku Bank

JCR Affirmed AA-/Stable Long-term Issuer Rating and A+ Rating on Sub. Bonds of Awa Bank

JCR Placed Rating on Osaka Securities Finance under CreditMonitor #A-[Positive] and #J-1[Positive]

JCR Withdraws LD and D Rating on Covalent Materials

JCR Affirmed A/Stable Long-term Issuer Rating on Nissan Chemical Industries

JCR Placed Rating on Softbank under Credit Monitor #A[Negative]
JCR Placed Rating on SFJ Capital under Credit Monitor #A-[Negative]

Oct. 12, 2012

JCR Assigned AA- Rating to Bonds of Odakyu Electric Railway

JCR Affirmed BBB+/Stable, Preliminary BBB+ and J-2 on Nankai Electric Railway

JCR Assigned BBB- Rating to Subordinated Bonds of Shimane Bank

JCR Assigned AAA Rating to Bonds of Aichi Prefecture