News Release

Sep. 24, 2012

JCR Affirmed A+/Stable, A+, Pre. A+ and J-1 Rating on Shimadzu Corporation

JCR Assigned BBB Rating to Subordinated Bonds of Tokyo Star Bank

JCR Assigned Preliminary AA- Rating to Shelf Registration of Mitsubishi Heavy Industries

Sep. 21, 2012

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL12-09 (G Hospital)

JCR Assigned J-3 to Narasaki Stax Accounts Receivable ABL12-09

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL12-09 (Asahikawa Sanai HP)

JCR Upgraded Rating on Cedyna Financial Corporation from A/Positive to A+/Stable; Affirmed J-1 on CP

JCR Removed CM; Affirmed BBB-/Stable, BBB-, and Preliminary BBB- on Daio Paper

Sep. 20, 2012

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL12-09 (C Hospital)

[ Asset Securitization Products ] JCR Assigned Pre. J-1 to Aso Shoji Bills Receivable ABL12-09

Sep. 19, 2012

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL12-09 (F Hospital)

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL12-09 (I Hospital)

JCR Upgraded Long-term Issuer Rating on Kato Sangyo from A- to A

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

Sep. 18, 2012

Series 62

Series 61

JCR Affirmed J-1+ Rating on ABCP of Vector Asset
JCR Affirmed J-1+ Rating on ABCP of Nexus Asset

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL12-09 (D Hospital)

[ Asset Securitization Products ]JCR Assigned Preliminary J-1+ to MSNW Trust Certificate Series 12090

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL12-09 (E Hospital)

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

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

JCR Affirmed J-2 Rating on CP of Fuji Electric Finance and Accounting Support

Sep. 14, 2012

[ Asset Securitization Products ] JCR Assigned Preliminary J-1+ to Amano Bills Receivable Beneficial Interest 12-09

JCR Assigned AAA Rating to Bonds of Aichi Prefecture

JCR Assigned Preliminary A Rating to Shelf Reg. of Nifco

JCR Assigned AA- Rating to Bonds of Nomura Holdings

JCR Affirmed AA-/Stable Long-term Issuer Rating on Mizuho Investors Securities

JCR Upgraded Long-term Issuer Rating on SMBC Nikko Securities from AA-/Positive to AA/Stable

JCR Affirmed AA-/Stable Long-term Issuer Rating on Mizuho Securities
JCR Affirmed AA- Rating on EMTN Programme of Mizuho International
JCR Affirmed AA- Rating on EMTN Programme of Mizuho Securities USA

JCR Affirmed AA/Stable Long-term Issuer Rating and AA and AA- Ratings on EMTN for Mitsubishi UFJ Securities Holdings
JCR Affirmed AA/Stable Long-term Issuer Rating on Mitsubishi UFJ Morgan Stanley Securities

JCR's Rating Review of Major Banks

JCR Placed Long-term Issuer Rating of Kanto Denka Kogyo Credit Monitor #BBB[Negative]

Sep. 13, 2012

JCR Assigned A- Rating to Bonds of Idemitsu Kosan

JCR Affirmed A/Stable Long-term Issuer Rating of Ezaki Glico

JCR Assigned AA Rating to Bonds of Tohoku Electric Power

JCR Affirmed A/Stable Long-term Issuer Rating on Yodogawa Christian Hospital

JCR Assigned AA/Stable Long-term Issuer Rating to Mitsui Fudosan Private REIT Inc.

JCR Placed Ratings on AEON Credit Service under Credit Monitor #A+[Negative]
JCR Placed Ratings on AEON Housing Loan Service under Credit Monitor #A-[Negative]and #J-1[Negative]

Sep. 12, 2012

JCR Assigned AA Rating to Bonds of Asahi Kasei

JCR Affirmed A/Stable, A- and Pre. A Rating on Nishi-Nippon City Bank

JCR Affirmed A-/Stable, A-, Pre. A- and J-1 Rating on Showa Denko
JCR Affirmed BBB on SD Preferred Capital

JCR Affirmed J-2 Rating on CP of Shoko

JCR Assigned AA Rating to Bonds of Urban Renaissance Agency

JCR Affirmed AA- Rating on EMTN of ITOCHU
JCR Affirmed AA- Rating on EMTN of ITOCHU Treasury Centre Europe

Sep. 11, 2012

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL12-09 (B Hospital)

JCR Affirmed BBB+/Negative Long-term Issuer Rating on Kintetsu Corporation

JCR Affirmed A/Stable, A and Pre. A Rating on Kawasaki Heavy Industries

JCR Affirmed BBB-/Stable Long-term Issuer Rating on DC Co., Ltd.

JCR Affirmed A-/Stable and J-1 on Idemitsu Kosan

JCR Affirmed A+/Stable, Preliminary A+ and J-1 on JX Holdings

JCR Assigned BBB- Rating to Subordinated Bonds and Subordinated Loan of Tokyo Tatemono

JCR Affirmed BBB+/Stable Rating on Daiichi Jitsugyo

Sep. 10, 2012

JCR Assigned Preliminary AA+ Rating to Shelf Reg. of NTT Finance

JCR Affirmed A+ Long-term Issuer Rating on Gunze; Revised Outlook from Stable to Negative

JCR Removed CM; Upgraded Rating on PARCO from #A-[Positive] to A/Stable Outlook

JCR Affirmed A on EMTN of Century Tokyo Leasing

JCR Affirmed A-/Stable, A- and J-1 Rating on NEC Capital Solutions

JCR Affirmed BBB/Stable and BBB on Sankei Shimbun

Sep. 07, 2012

JCR Assigned A+ Rating to Bonds of Sumitomo Chemical

JCR Assigned BBB+ Rating to Bonds of Toyo Tire & Rubber

JCR Assigned A+ Rating to Subordinated Bonds of SMTB

JCR Assigned A Rating to Bonds of Softbank Corp.

JCR Assigned AA+ Rating to Bonds of Electric Power Development

JCR Affirmed A+/Stable Rating on Daido Life Insurance

JCR Affirmed A+/Stable Rating on Taiyo Life Insurance

JCR Affirmed A+/Stable Rating on T&D Financial Life Insurance

JCR Assigned A Rating to Bonds of Hokkaido Gas

Sep. 06, 2012

JCR Assigned J-1+ to D Corporation Bills Receivable ABL12-09

JCR Affirmed AAA/AA+ Ratings and Assigned AAA Ratings to AfDB’s Notes

JCR Assigned BBB-/Negative Long-term Issuer Rating to Pioneer Corporation

JCR Assigned A Rating to Bonds of Century Tokyo Leasing

Sep. 05, 2012

JCR Affirmed AA+/AA+ (FC/LC) Long-term Issuer Ratings on Hong Kong

JCR Assigned A Rating to Bonds of Sumitomo Realty & Development

JCR Affirmed BBB+ Rating on Yasuda Real Estate; Revised Outlook to Positive

JCR Assigned A+ Rating to Bonds of Nippon Meat Packers

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

JCR Assigned AA- Rating to Bonds of ITOCHU Corporation

JCR Assigned AA- Rating to Bonds of Advance Residence Investment Corp.

JCR Affirmed J-2 Rating on CP of Tsubakimoto Kogyo

Sep. 04, 2012

JCR Affirmed AAA/AAA (FC/LC) Long-term Issuer Ratings on EDC

JCR Affirmed AAA/AAA (FC/LC) Long-term Issuer Ratings on Canada

JCR Affirmed AA+p/Stable Long-term Issuer Rating of Astellas Pharma

JCR Affirmed BBB- Long-term Issuer Rating on Nissen Holdings; Revised Outlook from Positive to Stable

Sep. 03, 2012

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

JCR Affirmed BBB+/Stable, Pre. BBB+ and J-2 on Mazda Motor

JCR Affirmed BBB+ Rating on Toyo Tire & Rubber; Revised Outlook to Positive

JCR Upgraded Ratings on HCS to A+/Stable from A/Stable

Aug. 31, 2012

JCR Assigned J-1 to Nohara Bills Receivable ABL12-08

JCR Affirmed J-1+ Rating on Mortgage Service Japan ABL Program

JCR Assigned J-1+ to Teral Bills Receivable ABL12-08

JCR Assigned J-1 to Molten Bills Receivable ABL12-08

JCR Affirmed BBB+/Stable and J-2 Rating on Kansai Urban Banking

JCR Assigned Preliminary A+ Rating to Shelf Reg. of Meiji Holdings

JCR Assigned Preliminary A+ Rating to Shelf Registration of Mitsubishi Chemical Holdings

JCR Withdraws J-1 Rating on CP of Tokyo Associates Finance Corporation

Aug. 30, 2012

[ Asset Securitization Products ] JCR Assigned J-1 to Aso Shoji Bills Receivable ABL12-08

JCR Assigned Preliminary J-1 Rating to Ferry Road ETC Card Receivable ABL Program

[ Asset Securitization Products ] JCR Assigned J-1 to Hayakawa Rubber Bills Receivable ABL12-08

JCR Assigned BBB/Stable Long-term Issuer Rating to Meidensha; Affirmed J-2 on CP