News Release

Oct. 20, 2010

Affirmed AA/Stable and preliminary AA on Asahi Kasei Corp.

Assigned BBB rating to bonds of Sojitz Corporation

Affirmed AA-/Stable, preliminary AA- and J-1+ on Toyota Tsusho

Affirmed BBB+ and J-2 on Ube Industries; Outlook Positive

Assigned A- rating to subordinated bonds of Fukui Bank

Affirmed J-2 rating on CP of Toho

Oct. 19, 2010

Assigned J-1 to Kurashiki Medical Center Beneficial Int. 10-10

Assigned preliminary J-1+ to MSNW Trust Certificate Series 10100

Assigned pre.J-1 rating to Aso Shoji Bills Receivable ABL10-10

Assigned J-1 to Medical Fees Receivable ABL10-10 (F Hospital)

Assigned J-1 to Medical Fees Receivable ABL10-10 (L Hospital)

Assigned J-1 to Medical Fees Receivable ABL10-10 (H Hospital)

Affirms AA+ Ratings on GDF SUEZ; Outlook Stable

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

Affirmed J-2 on CP of Marudai Food

Affirmed BBB/Stable rating on Starzen

Assigned A- rating to bonds of Mori Building

Oct. 18, 2010

Assigned J-1 to Medical Fees Receivable ABL10-10 (E Hospital)

Assigned J-1 to Medical Fees Receivable ABL10-10 (Kyowakai)

Assigned J-1 to Dispensing Fees Receivable ABL10-10 (sun-kur Corporation)

Affirmed A/Stable, A and J-1 on BOT Lease

Revised ratings to A- from BBB+ and J-1 from J-2 on Toho HLD

Affirmed BBB+/Stable and J-2 on Shinsho Corporation

Revised rating on Tokyo Electron from AA- to AA; Outlook Stable

Oct. 15, 2010

JCR Affirmed A+/Stable ratings on Fukokushinrai Life Insurance

Assigned J-1 to Medical Fees Receivable ABL10-10 (K Hospital)

<Asset Securitization Products> Takeda Sogo Hospital medical treatment fees receivable senior beneficial interest 10-10

Affirmed BB/Negative ratings on Asahi Mutual Life Insurance

Assigned preliminary BBB+ to shelf reg. of Nippon Sheet Glass

Assigned A+ rating to bonds of Mitsui Chemicals

Affirmed BBB/Stable ratings on Mitsui Life Insurance

Affirmed A- rating on Taiho Kogyo; Revised outlook to Stable

JCR Affirmed A+p/Stable ratings on Fukoku Mutual Life Insurance

Affirmed A/Stable ratings on T&D Financial Life

Affirmed AA-/Stable ratings on Daido Life Insurance

Affirmed A+/Stable ratings on Taiyo Life Insurance

Assigned AAA rating to bonds of Aichi Prefecture

Assigned AA- rating to bonds of Saibu Gas

Oct. 14, 2010

<Asset Securitization Products> Assigned pre.J-1 to Kurashiki Medical Center Beneficial Interest 10-10

Assigns preliminary AA- Rating to Corporacion Andina de Fomento's Yen Bonds

Assigned A+ rating to bonds of THK

Assigned AA- rating to bonds of Mizuho Corporate Bank

Assigned AA rating to bonds of Kansai International Airport

Oct. 13, 2010

Assigned pre. J-1+ to A&D Bills Receivable Beneficial Int. 10-10

Assigned J-1 to Medical Fees Receivable ABL10-10 (B Hospital)

Assigned preliminary A rating to shelf reg. of Sankei Building

Revised rating outlook on Belluna from Negative to Stable

Oct. 12, 2010

Assigned pre.A to NIHONWASOU CREDIT Installment Securitization 201010

Affirmed A+ and J-1 rating on JTEKT; Revised outlook to Stable

Affirmed BBB/Stable rating on senior debts of Sogo Medical

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

Oct. 08, 2010

Assigned preliminary A rating to shelf reg. of Sumitomo Heavy Industries

Assigned AAA rating to bonds of Kansai Electric Power

Assigned AAA rating to bonds of Chugoku Electric Power

Assigned A rating to bonds of Marubeni Corporation

Assigned preliminary AA- rating to shelf reg. of Asahi Breweries

Affirmed A-/Stable and J-1 rating on Jaccs

Assigned AA rating to bonds of The Bank of Tokyo-Mitsubishi UFJ

Assigned AA+ rating to bonds of NTT Finance Corporation

Assigned BBB rating to bonds of Elpida Memory

Assigned AAA rating to bonds of Development Bank of Japan

Assigned AA- rating to bonds of Sumitomo Mitsui Banking Corporation

Oct. 07, 2010

Affirmed A- on bonds of Sumitomo Life Fund Securitization SPC II

Affirmed AA- on specified bonds of Nissay 2008 Fund SPC

Affirmed A- on bonds of Sumitomo Life Fund Securitization SPC

Affirmed A- on bond of Sumitomo Life Fund Securitization SPC III

Affirmed AA- on specified bonds of Nissay 2009 Fund SPC

Affirmed AA- on specified bonds of Nissay 2010 Fund SPC

Affirmed BBB/Stable rating on Yahagi Construction

Affirmed BBB and J-2 on Penta-Ocean Construction.; Outlook Positive

Affirmed A+/Stable rating on senior debts of Yamaha Corporation

Assigned BBB+ rating to bonds of Kintetsu Corporation

Affirmed BBB-/Stable on senior debts of Gyokushoukai

Oct. 06, 2010

Assigned preliminary A- rating to bonds of AvanStrate Inc.

Affirmed BBB+/Stable rating on Tohoku Bank

Affirmed A+/Stable and J-1+ on Meiji Yasuda Life

Affirmed A/Stable on Sumitomo Life Insurance

Affirmed AAp/Stable and J-1+ rating on Nippon Life Insurance

Oct. 05, 2010

Assigned preliminary A rating to shelf of Fukui Bank

Affirmed A-/Stable and J-1 rating on Kobelco Construction

Affirmed BBB/Stable on Soken Chemical & Engineering

Affirmed BBB+/Stable rating on senior debts of Warabeya Nichiyo

Affirmed A+/Stable and J-1 on Nippon Steel Logistics

Affirmed AA-/Stable and J-1+ on Nippon Steel Engineering

JCR's Rating Review of Blast Furnace Steel Manufacturers

Assigned AAA rating to bonds of Aichi Prefecture

Oct. 04, 2010

Assigned preliminary AAA; Affirmed AAA/Stable and J-1+ on Japan Finance Corporation

Affirmed A/Stable and J-1 on Fuyo General Lease

Assigned A/Stable rating to Sharp Finance; Affirmed J-1 on CP

Placed ratings on AIG Edison Life Insurance under Credit Monitor #A+/Developing

Oct. 01, 2010

Withdraws A+/Stable rating on sr.debts of Kaneka

Revised rating on CSK Corporation from BB/Stable to BB+

Affirmed BBB+/Stable rating on senior debts of Daiichi Jitsugyo

Withdraws #A-/Positive rating on Daimei Telecom Engineering Corp.

Assigned A-/Stable rating to senior debts of MIRAIT Holdings

Withdraws #A-/Positive rating on Commuture Corp.

Affirmed AA- on EMTN of Sumitomo Mitsui Finance and Leasing

Affirmed BBBp/Stable rating on Nippon Denwa Shisetsu

JCR Affirmed A+/Stable on Nippon Paper Industries
JCR Affirmed A+/Stable on Nippon Paper Group

Affirmed A/Stable on senior debts of Noritake