News Release

Sep. 16, 2011

JCR Assigned A+ Rating to Subordinated Bonds of Sumitomo Trust and Banking

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

JCR Assigned BBB Rating to Bonds of Dainippon Screen Mfg.

Sep. 15, 2011

JCR Assigned J-1 to Medical Fees Receivable ABL11-09 (F Hospital)

<Asset Securitization Products> JCR Assigned J-1+ to JUTEC Bills Receivable ABL11-09

JCR Assigned J-1 to Medical Fees Receivable ABL11-09 (L Hospital)

<Asset Securitization Products> JCR Assigned J-1 to Medical Fees Receivable ABL11-09 (Kyowakai)

<Asset Securitization Products> JCR Assigned J-1 to Dispensing Fees Receivable ABL11-09 (sun-kur)

<Asset Securitization Products> JCR Assigned J-1+ to Takeda General Hospital Beneficial Interest 11-09

<Asset Securitization Products> JCR Assigned J-1+ to Takeda General Hospital Beneficial Interest 11-09

<Asset Securitization Products> JCR Assigned J-1 to Medical Fees Receivable ABL11-09 (E Hospital)

JCR Affirmed J-2 Rating on CP program of Shoko

JCR Assigned Preliminary BBB+ Rating to Shelf Registration of Penta-Ocean Construction

JCR Assigned AAA Rating to Bonds of Aichi Prefecture

JCR Upgraded Rating on Showa Denko from BBB+/Positive to A-/Stable
JCR Upgraded Rating on SD Preferred Capital from BBB- to BBB

JCR Upgraded Rating on T&D Financial Life Insurance from A/Stable to A+/Stable

JCR Affirmed AA- on EMTN of Mitsubishi UFJ Lease & Finance

JCR Downgraded Rating on Daido Life Insurance from AA-/Stable to A+/Stable

JCR Affirmed A+/Stable Rating on Taiyo Life Insurance

Sep. 14, 2011

<Asset Securitization Products> preliminary (Kurashiki Medical Center medical treatment fees receivable senior beneficial interest 11-09)

JCR Assigns A Rating on America Movil; Outlook Stable

JCR Assigned AA Rating to Bonds of MUSI

JCR Affirmed A-/Stable, A-, BBB, Preliminary A- and J-1 on DIC

Sep. 13, 2011

JCR Affirmed AA- on Class B, A- on Class C,D bonds of Trust Maison Two TMK

<Asset Securitization Products> JCR Assigned Pre. J-1+ to Bills Receivable Beneficial Interest 11-09 (A Corp.)

<Asset Securitization Products> JCR Assigned J-1 to Medical Fees Receivable ABL11-09 (B Hospital)

<Asset Securitization Products> JCR Assigned Preliminary J-3 to Monthly Clear Card Shopping Receivable ABL11-09

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

JCR Upgraded Class D and Affirmed Class A, B and C Specified Bonds of Trust Maison TMK

JCR Affirmed BBB/Stable and BBB Rating on Sankei Shimbun

Sep. 12, 2011

JCR Affirmed A and J-1 on Cedyna Financial; Revised Outlook to Positive

JCR Affirmed A on EMTN of Century Tokyo Leasing Corp.

JCR Affirmed A+ and J-1+ on Sumitomo Mitsui Card; Revised Outlook to Positive

Sep. 09, 2011

JCR Affirmed A+/Stable and J-1 on kabu.com Securities

JCR's Rating Review of Major Banks

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 Affirmed AA-/Stable and J-1+ Rating on Mizuho Investors Securities

JCR Affirmed AA- Rating on SMBC Nikko Securities; Revised Outlook to Positive

JCR Assigned BBB Rating to Bonds of Daio Paper

JCR Affirmed AA-/Stable, A+ and J-1+ 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 Assigned AA Rating to Bonds of Kansai International Airport

JCR Affirmed BBB-/Stable Rating on Senior debts of Howa Bank

JCR Assigned BBB+ to Bonds; Affirmed BBB+/Stable and J-2 on Hanwa

JCR Assigned AA Rating to Bonds of Urban Renaissance Agency

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

JCR Assigned Preliminary BBB+ Rating to Shelf Reg. of Heiwa Real Estate

JCR Assigned A Rating to Bonds of Taisei Corporation

Sep. 08, 2011

JCR Affirmed BBB+/Stable Rating on Senior debts of Matsuda Sangyo

JCR Assigned A Rating to Bonds of Kenedix Realty Investment Corporation

JCR Affirmed A- and BBB+ Rating on Tokyo Tomin Bank; Revised Outlook to Stable

JCR Assigned A- Rating to Bonds of Nisshin Oillio Group

JCR Affirmed A/Stable and A- on Senior debts and Sub. Bonds of Hyakujushi Bank

JCR Affirmed AA/Stable Ratings on Sony Life

Sep. 07, 2011

September 7, 2011JCR Assigned J-1 to Medical Fees Receivable ABL11-09 (D Hospital)

JCR Affirmed BBB/Stable Rating to Sr.debts of Scroll Corporation

JCR Assigned A- Rating to Bonds of Tokyu Land

Sep. 06, 2011

JCR Assigned A+ Rating to Subordinated Bonds of Mizuho Bank

JCR Assigned A+ Rating to Bonds of Mitsubishi Chemical Holdings

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

JCR Assigned AA+ Rating to Bonds of Japan Student Services

Sep. 05, 2011

JCR Affirmed BBB+/Stable and J-2 Rating on Yasuda Real Estate

JCR Affirmed BBB+/Stable Rating on Senior debts of Maruzen Petrochemical

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

Sep. 02, 2011

JCR Assigned AA- Rating to Bonds of ITOCHU

JCR Assigned A- Rating to Bonds of Sapporo Holdings

JCR Assigned AA- Rating to Bonds of Advance Residence Investment Corporation

JCR Assigned A Rating to Bonds of Hankyu Hanshin Holdings

JCR Assigned A Rating to Bonds of Fuyo General Lease

JCR Affirmed A+/Stable Rating on Advantest

JCR Affirmed BBB/Stable and BBB on Kisoji

JCR Affirmed BBB/Stable, BBB and Preliminary BBB on Hikari Tsushin

Sep. 01, 2011

JCR Affirmed A Rating on HCS

JCR Affirmed A/Stable Rating on Senior debts of Yodogawa Christian Hospital

JCR Affirmed A/Stable, A, Preliminary A on Kawasaki Heavy Ind.

JCR Affirmed BBB+/Stable, BBB+, Pre. BBB+ and J-2 on Mitsui Eng. & Shipbuilding

Aug. 31, 2011

<Asset Securitization Products> JCR Assigned J-1 to Nohara Bills Receivable ABL11-08

<Asset Securitization Products> JCR Assigned J-1+ to Teral Bills Receivable ABL11-08

<Asset Securitization Products> JCR Assigned J-1 to Molten Bills Receivable ABL11-08

JCR Assigned Preliminary AA Rating to Bonds of MUSI

JCR Assigned AAA and Affirmed AAA/AA+ Ratings of AfDB

JCR Withdraws AA/Stable, AA and J-1+ Rating on Sanyo Electric

Aug. 30, 2011

<Asset Securitization Products> JCR Assigned J-1 to Hayakawa Rubber Bills Receivable ABL11-08

<Asset Securitization Products> JCR Assigned J-1 Rating to Aso Shoji Bills Receivable ABL11-08

JCR Assigned AA- Rating to Bonds of Nippon Yusen Kabushiki Kaisha

JCR Assigned A Rating to Bonds of Hokkaido Gas

JCR Assigned A- Rating to Bonds of Sumitomo Osaka Cement

JCR Assigned AA- Rating to Bonds of Mitsui Fudosan

JCR Assigned AA rating to bonds of JFE Holdings

JCR Assigned BBB Rating to Bonds of Sojitz Corporation

JCR Affirmed AAA/Stable, AAA and J-1+ on Okinawa Electric Power Company

JCR Assigned BBB Rating to Subordinated Bonds of Nagano Bank

Aug. 29, 2011

<Asset Securitization Products> JCR Assigned J-1 to Hyakugo Bank B Corporation Bills Receivable ABL11-08

<Asset Securitization Products> JCR Assigned J-1+ to Bills Receivable Beneficial Interest 11-08 (A Corp.)

JCR Affirmed A/Stable, A and J-1 Rating on Hankyu Hanshin Holdings

JCR Affirmed A/Stable and A Rating on Hanshin Electric Railway

JCR Assigned BBB+ Rating to Preferred Sec. of SFJ Capital

JCR Affirmed BBB+/Stable, BBB+ and J-2 on Akebono Brake Industry

JCR Assigned Preliminary A+ Rating to Shelf Reg. of Mizuho Trust & Banking

Aug. 26, 2011

JCR Assigned A+/Stable and Preliminary A+ to Senior Debts and Shelf Registration of NSK

JCR Assigned A Rating to Bonds of Nichirei