News Release

Jun. 27, 2025

JCR Affirmed A/Stable Long-term Issuer Rating on Bank of Nagoya: Assigned J-1 to Short-term Issuer Rating

JCR Affirmed A Long-term Issuer Rating on OSG; Revised Outlook to Stable

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

JCR Affirmed AAA/Stable Long-term Issuer Rating on Central Japan Railway

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

JCR Assigned Preliminary BBB Rating to Subordinated Bonds of NIPRO

JCR Assigned A Rating to Bonds of Tokyo Tatemono

Japan: Reviewed Climate Transition Bond Framework Evaluation: Green 1(T)(F)

The Bank of Kyoto: Evaluation of Conformity of Sustainable Deposit

Taniguchi Shouji, THE BANK OF FUKUOKA: Second Opinion on Positive Impact Finance

LIZON, THE SAITAMAKEN SHINKIN BANK: Second Opinion on Positive Impact Finance

Jun. 26, 2025

JCR Assigned A-/Stable FC Long-term Issuer Rating to Eastern Water Resources Development and Management

JCR Affirmed A-/Stable Long-term Issuer Rating on DyDo GROUP HD

JCR Affirmed J-2 Rating on CP of KYOKUYO

JCR Assigned BBB Rating to Subordinated Loan of Nippon Paper Industries

JCR Assigned AA- to Kai Limited Series 80045

JCR Withdraws A- Long-term Issuer Rating on Benesse HD

Jun. 25, 2025

SBI Shinsei Bank’s Public Funds Are Expected to be Fully Repaid—No Impact on Rating

JCR Affirmed AA-/Stable and J-1+ on ACOM

JCR Affirmed AA/Stable Long-term Issuer Rating on Hulic Reit

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

JCR Assigned AA to Libra A Limited Series C099

AIZAWA Concrete Corporation: Second Party Opinion on Sustainability Linked Loan Framework

Minaminihon House, The Kumamoto Bank: Second Opinion on Positive Impact Finance

Jun. 24, 2025

Renesas Electronics Expects to Record a Loss on the Deposited Receivables—No Immediate Impact on the Rating

JCR Affirmed AA/Stable Long-term Issuer Rating on ORIX JREIT

JCR Assigned BBB+ Rating to Bonds of GENDA

JCR Assigned AAA Rating to Bonds of NTT TC Leasing

[ Asset Securitization Products ] JCR Affirmed J-1+ on Monthly Clear Receivable Securitization ABL Program (Japan Securitization Corporation)

[ Asset Securitization Products ] JCR Affirmed AAA, BBB and A on MMJ Mortgage Trust II Senior Beneficial Interest and ABL

Jun. 23, 2025

Proposed Legal Amendments on Financial Measures, etc. for JAPAN POST HOLDINGS - Will Reexamine the Nature of the Government's Involvement

JCR Upgraded Long-term Issuer Rating on H.I.S. to BB+/Positive

JCR Assigned J-1 Rating to CP of JX Advanced Metals

Jun. 20, 2025

NIPPON STEEL Makes U.S. Steel a Wholly-owned Subsidiary—JCR Will Watch Financial Management Policies and PMI with No Immediate Revision of Rating

JCR Upgraded Long-term Issuer Rating on NEC to AA-/Stable

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

JCR Affirmed AA/Stable Long-term Issuer Rating on MORI HILLS REIT INVESTMENT CORPORATION

[ Asset Securitization Products ] JCR Upgraded Ganymede Limited Series 2021-122 to A+

[ Asset Securitization Products ] JCR Upgraded Ganymede Limited Series 2022-2 to A+

[ Asset Securitization Products ] JCR Upgraded Cypher Limited Series 486 to A+

[ Asset Securitization Products ] JCR Assigned J-3 to Narasaki Stax Accounts Receivable ABL 25-06

SYGN HOUSE , The Shoko Chukin Bank: Second Opinion on Positive Impact Finance

Toshin, The Shoko Chukin Bank: Second Opinion on Positive Impact Finance

Jun. 19, 2025

JCR Affirmed A-/Stable and J-1 on Kyoto Shinkin Bank

JCR Withdraws J-1 Rating on CP of SKY Perfect JSAT HD

Jun. 18, 2025

[ Asset Securitization Products ] JCR Affirmed AA+ on Revolving Credit Card Shopping Senior Beneficial Interest

EFILa MIRAI, The Shoko Chukin Bank: Second Opinion on Positive Impact Finance

Jun. 16, 2025

JCR Affirmed AA/Stable and J-1+ on JCB

JCR Assigned Preliminary AA, AA- and A Rating to Shelf Registration of Mitsubishi UFJ Financial Group

JCR Assigned AA- Rating to Ganymede Limited Series 2025-12

Jun. 13, 2025

JCR Assigned A-/Stable Long-term Issuer Rating to TOKYO ENERGY & SYSTEMS

JCR Assigned A+ Rating to Bonds of Nagoya Railroad

JCR Assigned AA- Rating to Bonds of Hokkaido Electric Power

JCR Assigned BBB+ Rating to Bonds of Acciona Financiacion Filiales

JCR Assigned A Rating to Bonds of SBI ARUHI

JCR Assigned AA Rating to Bonds of Sumitomo Mitsui Finance and Leasing

JCR Assigned Preliminary AA- to Securitization of Leases Receivable from SB 202506

JCR Assigned Preliminary AA- to Securitization of Loans Receivable from SB 202506

TACHINO, The Hokkaido Bank: Second Opinion on Positive Impact Finance

Jun. 12, 2025

JCR Assigned AAA Rating to Bonds of National University Corporation, the University of Tokyo

JCR Assigned A- Rating to Bonds of Rakuten Card

JCR Assigned AA Rating to Libra A Limited Series C112

Jun. 11, 2025

JCR Affirmed AA-/Stable Long-term Issuer Rating on Daiwa Residential Private Investment Corporation

JCR Assigned A+ Rating to Bonds of SUMITOMO HEAVY INDUSTRIES

JCR Assigned AA Rating to Bonds of TOKYU

JCR Assigned A+ Rating to Bonds of Nomura Real Estate HD

JCR Assigned Preliminary A+ Rating to Shelf Registration of THK

JCR Assigned Preliminary A+ Rating to Jointly Operated Designated Money Trust N1 (2 years)

Jun. 10, 2025

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

Jun. 09, 2025

JCR Affirmed A Long-term Issuer Rating on Aozora Bank; Revised Outlook to Stable

Change in CP Maximum Amount of TOKYU; Affirmed J-1+

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

Results of Review of Structured Finance Products (Excluding Those to Which Credit Ratings Are Assigned) May 2025

Jun. 06, 2025

JCR Placed Rating on Makino Milling Machine under Credit Monitor #A-/Negative

JCR Affirmed A+ Long-term Issuer Rating on Invincible Investment Corporation; Revised Outlook to Positive

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

JCR Affirmed AAA/Stable (FC/LC) on Finland

JCR Affirmed AA+/Stable (FC/LC) on Hong Kong

JCR Assigned AA- Rating to Bonds of JERA

JCR Assigned A Rating to Bonds of Sumitomo Osaka Cement

JCR Assigned AA- Rating to Bonds of Takeda Pharmaceutical

JCR Assigned AA+ Rating to Bonds of Electric Power Development

JCR Assigned A+ Rating to Bonds (Tier 2 with loss absorption clause) and A- Rating to Bonds (Tier 1 with loss absorption clause) of Nomura HD

Jun. 05, 2025

New World Development Announced the Deferral of Perpetual Securities Interest Payments—Need to Watch Refinancing Progress

JCR Assigned A/Stable Long-term Issuer Rating to Yamanashi Chuo Bank

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

JCR Affirmed A-/Stable Long-term Issuer Rating on TONO SHINKIN BANK

JCR Affirmed A-/Stable (FC/LC) on Philippines

JCR Assigned A Rating to Bonds of TOYOBO

JCR Assigned A+ Rating to Bonds of JA MITSUI LEASING

JCR Assigned A+ Rating to Bonds of JACCS

JCR Assigned AA Rating to Bonds of Sumitomo Mitsui Trust Bank

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

JCR Assigned AA Rating to Bonds of Japan Freight Railway

Jun. 04, 2025

JCR Affirmed AA/Stable Long-term Issuer Rating on Hachijuni Bank and NAGANOBANK

[ Asset Securitization Products ] JCR Assigned J-1+ to Telecommunication Fee Receivable Securitization ABL Program (Japan Securitization Corporation)

JCR Affirmed BBB- on Giga Solar Green Project Bond Trust (Fukushima) Beneficial Interest and Trust ABL

Jun. 03, 2025

JCR Affirmed BBB on BRS Mega Solar Project Bond Trust 1 Beneficial Interest and Trust ABL

Jun. 02, 2025

Revisions of Rating Methodologies by Sector "Pulp and Paper," "Petroleum" and "Cement"

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