News Release

Aug. 03, 2007: Upgraded sr.debts of Suruga to BBB/Stable from BBB-/Stable; Affirmed AA-/Stable on sr.debts of Coca-Cola West Holdings; Affirmed BBB+/Stable on senior debts of SBI E*Trade; Affirmed BBB/Stable and J-2 on senior debts and CP of SBI Holdings

Aug. 02, 2007: Affirmed BBB/Stable on senior debts of Biwako Bank; Affirmed A for Keiyo Bank and Revised outlook to Positive; Upgraded Rating on ICICI to BBB+(FC)

Aug. 01, 2007: Assigned J-1+ to Teral Kyokuto Bills Receivable ABL07-07; Assigned pre. AAA/AA/A to senior beneficiary certificates/loans; Assigned BBB+ to bonds of Mitsubishi Materials; JCR Affirmed AA and AA- on EMTN of Nomura Bank International; JCR Affirmed AA on Euro Note Programme of Nomura Europe Finance; Affirmed J-1 on CP of SMBC Finance Service; JCR Affirmed A+ on EMTN of ITOCHU
JCR Affirmed A+ on EMTN of ITOCHU International
JCR Affirmed A+ on EMTN of ITOCHU Finance (Europe); Assigned preliminary A+ to shelf registration of Itochu; Affirmed BBB-/Stable on senior debts of Airtech

Jul. 31, 2007: Assigned J-1 to Aso Shoji Bills Receivable ABL07-07; Assigned J-1 to Toda Kogyo Bills Receivable ABL07-07; Assigned J-1 to Molten Bills Receivable ABL07-07; Assigned J-1 to Hayakawa Rubber Bills Receivable ABL07-07; JCR Affirmed A+/Stable for Cheung Kong (Holdings) Limited
JCR Affirmed A+ for Cheung Kong Finance Japan; Assigned preliminary A- to Samurai bonds of Hyundai Capital

Jul. 30, 2007: Assigned J-1 to Bills Receivable ABL07-07 (B Corporation in Mie); Assigned J-1 to Isuzu Motors Kyushu Bills Receivable Certificates; Assigned J-1 to MoonStar Bills Receivable ABL07-07; Assigned A+/Stable to sr.debts of JFE Shoji Holdings; Affirmed A/Stable and J-1 on sr.debts and CP of Yokohama Rubber; Affirmed A+/Stable and J-1 on sr.debts and CP of Sumitomo Rubber; Assigned A+/Stable and J-1 to sr.debts and CP of JFE Shoji Trade

Jul. 27, 2007: JCR has assigned a J-1 rating to limited recourse asset-backed loan (ABL) backed by bills receivable.; Affirmed A-/Negative and J-1 on senior debts and CP of UCS; JCR Removed CM: JCR Affirmed Mizuho Securities AA- and J-1+
JCR Removed CM: JCR Affirmed Shinko Securities AA- and J-1+

Jul. 26, 2007: Assigned J-1 to SEIBUKIZAI Bills Receivable ABL07-07; JCR Placed Sanyo Shinpan under CM with Positive
JCR Placed Pocket Card under CM with Positive; Affirmed A+/Stable and J-1 on sr.debts and CP of Gunze

Jul. 25, 2007: Assigned J-1 to healthcare fees ABL07-07 (Asahikawa Sanai HP); Assigned J-1+ to MSNW Trust Certificate Series 07070; Affirmed A- for Kato Sangyo and Revised Outlook to Negative

Jul. 24, 2007: Assigned J-1 to Bills Receivable ABL07-07 (A Corporation in Aichi); Assigned J-1 to Fuji Shokai Bills Receivable ABL07-07; Assigned J-1 to healthcare fees receivable ABL07-07 (C Hospital); Withdrawn BBB- rating on sr.debts of CIJ; Assigned A to bonds of Sumitomo Realty & Development; Assigned AA and AA- to bonds and sub.bonds of Bank of Tokyo-Mitsubishi UFJ

Jul. 23, 2007: Assigned J-1 to healthcare fees receivable ABL07-07 (A Hospital); Assigned J-1 to healthcare fees ABL07-07 (D Hospital); Assigned BBB- to euroyen FRN of Urban Corporation; Affirmed Ap/Stable on sr.debts of Nishimatsu Construction

Jul. 20, 2007: Assigned J-1 to healthcare fees ABL07-07 (E Hospital); Assigned AA- to bonds of NGK Spark Plug; Assigned BBB to bonds of Sojitz; Affirmed AA-p/Stable on sr.debts of FamilyMart; Assigned AAA to bonds of Kansai Electric Power Company; Assigned A- to bonds of Tokyu Land; Affirms AAA/AAA(FC)/(LC) Ratings on Export Development Canada; Outlook Stable; JCR Removed CM and upgraded Nikko Cordial Corporation to AA and J-1+
JCR Removed CM and upgraded Nikko Cordial Securities to AA and J-1+
JCR Removed CM and upgraded NikkoCiti Trust and Banking to AA and J-1+

Jul. 19, 2007: Assigned J-1 to healthcare fees ABL07-07 (Heiwa & Konbu Onsen); Assigned A- to subordinated bonds of Shikoku Bank; Assigned A+ to bonds of Meiji Seika; Assigned AA- to bonds of Mizuho Corporate Bank; Assigned A+ to bonds of Sumitomo Mitsui Banking; Affirmed A/Stable on sr.debts of Nissan Chemical; Affirmed A- for Kita-Nippon Bank and Revised Outlook to Positive

Jul. 18, 2007: Assigned preliminary AA- to shelf registration of NGK Spark Plug; Assigned AA/Stable to sr.debts of Nomura Real Estate Residential Fund; Affirmed A- on sr.debts of Arisawa Mfg. and Revised Outlook to Negative; Assigned AA- to bonds of Orix; Assigned BBB to bonds of Joint Corporation

Jul. 17, 2007: Affirmed A-/Stable on sr.debts of Gifu Shinkin Bank; Affirmed BBB+/Stable on senior debts of Accordia Golf

Jul. 13, 2007: Assigned J-1 to healthcare fees receivable ABL07-07 (B Hospital); Assigned J-1 to healthcare fees receivable ABL07-07 (Tokachinomori); Assigned J-1+ to Takeda Gen. Hospital Trust Certificates 07-07; Assigned A-/Stable to sr.debts of Prospect Residential Investment; Affirmed AAp/Stable on sr.debts of Sharp Corporation; Affirmed AA-/Stable on senior debts of Advantest; Affirmed A+/Stable on senior debts of Nidec

Jul. 12, 2007: Assigned J-1 to Healthcare Fees Receivable ABL07-07 (Ishii HP); Assigned pre. A- to bonds of Sumitomo Life Fund Securitization II; Assigned AA- to bonds of Odakyu Electric Railway

Jul. 11, 2007: Assigned A- to Samurai bonds of Telefonica Europe B.V.; Assigned AAA to bonds of Tokyo Electric Power Company; Affirmed BBB/Stable on sr.debts of Gifu Bank

Jul. 10, 2007: Assigned preliminary A to shelf registration of Acom; Assigned A- to bonds of Hankyu Hanshin Holdings; Affirmed BBB/Stable on senior debts of Culture Convenience Club; Assigned A to bonds of Takashimaya

Jul. 09, 2007: Assigned J-1 to Nohara Bills Receivable ABL07-07; Assigned preliminary AA to shelf of JFE Holdings; Assigned preliminary A rating to shelf of Marubeni; Affirmed AAA on sr.debts of Development Bank of Japan and Revised outlook to Stable; Affirmed AAA on sr.debts of Development Bank of Japan and Revised outlook to Stable

Jul. 06, 2007: Assigned A/Stable to sr.debts of Daido Fire & Marine; Assigned preliminary A- to shelf of Sumitomo Osaka Cement; Assigned AAA/Stable to sr.debts of Hitotsubashi University

Jul. 05, 2007: Assigned BBB+ to bonds of Pocket Card; Assigned preliminary AA- to shelf registration of Orix; Withdrawn #A+/Positive on shelf of Sumitomo Wiring Systems; Assigned AAA to bonds of National Life Finance; Assigned AAA to bonds of Chugoku Electric Power

Release Information: News Release; Issuer Reports; Reports relating to Issuer; JCR News