News Release

Oct. 17, 2007: Affirmed A-/Stable on senior debts of Ikubunkan Yume-Gakuen; Assigned preliminary BBB+ to shelf registration of Matsui Securities; Assigned BBB+/Stable to senior debts of Tohoku Bank; Affirmed A-/Stable on senior debts of Taiho Kogyo; Affirmed A/Stable on senior debts of Fuyo General Lease; Assigned AA- to bonds of Mizuho corporate Bank; Affirmed AA/Stable on senior debts of Asahi Kasei

Oct. 16, 2007: Assigned J-1 to healthcare fees receivable ABL07-10 (A Hospital); Affirmed A+ on bonds of Dai-ichi Life Dai2kai Kikin Ryudouka Tokutei Mokuteki Kaisha; Affirmed A- on bonds of Sumitomo Life Fund Securitization Special Purpose Company; Assigned J-1 to healthcare fees receivable ABL07-10 (Kyowakai); Affirmed A+ on bonds of Dai-ichi Life Dai2kai Kikin Ryudouka Tokutei Mokuteki Kaisha; Removed CM: Affirmed BBB- on sr.debts of Toyama Chemical; Affirmed A-/Stable and J-1 on sr.debts and CP of Century Leasing System; Affirmed A/Stable on senior debts of Noritake; Upgraded rating on Kobelco Construction Machinery to A-/Stable and J-1

Oct. 15, 2007: Assigned J-1+ to Takeda Gen. Hospital Trust Certificates 07-10; Affirmed J-1 on CP program of Sumitomo Realty & Development

Oct. 12, 2007: Affirmed BBB/Stable and BBB on sr.debts and bonds of S & B Foods; Affirmed A/Stable and A on sr.debts and bonds of Mitsui-Soko; Affirmed J-2 on CP of Marudai Food; Affirmed J-2 on CP of Tsubakimoto Kogyo; Affirmed J-1 on CP of Mizuho Investors Securities; Affirmed A/Stable and A on sr.debts and bonds of Minebea; Placed CM Negative; Downgraded NIS Group to #BB; Placed CM Negative; Downgraded NIS Group to #BB; Assigned AAA to bonds of Japan Finance Corporation for Small and Medium Enterprise; Assigned A rating to bonds of Marubeni; Assigned AAA to bonds of Tokyo Electric Power Company; Assigned preliminary BBB to shelf registration of Cosmo Oil; Downgraded Towa Bank to #BBB-/Negative from #BBB/Negative

Oct. 11, 2007: Assigned J-1 to Healthcare Fees Receivable ABL07-10 (Ishii HP); Assigned J-1 to healthcare fees receivable ABL07-10 (B Hospital); Affirmed A for Hyakujushi Bank; Revised outlook to Positive; Assigned AA to bonds of Bank of Tokyo-Mitsubishi UFJ; Upgraded Rating on All Nippon Airways to A-/Stable and J-1

Oct. 10, 2007: Upgraded ratings on Tokyo Tatemono to A-/Stable and J-1; Assigned preliminary A to shelf registration of Taiko Bank; Affirmed AA+/Stable and J-1+ on sr.debts and CP of NTT Data; Assigned preliminary A- and A- to shelf and bonds of Mazda Motor; Assigned preliminary BBB+ to shelf registration of Accordia Golf; Assigned AAA to bonds of Tokyo Metro; Affirmed J-1 on CP of UC Card; Affirmed BBB+/Stable and J-2 on senior debts and CP of Resorttrust; Assigned preliminary A- to shelf registration of Daisan Bank

Oct. 09, 2007: Assigned J-1 to Nohara Bills Receivable ABL07-10; Withdrawn Ap/Stable rating on sr.debts of Hitachi Cable; Affirmed BB+/Stable and J-3 on sr.debts and CP of Tokyo Dome; Placed rating on Simplex Investment Advisors under CM with Positive

Oct. 05, 2007: Assigned preliminary AA, AA- & A+ to shelf of Mitsubishi UFJ Trust & Banking; Affirmed A-/Stable and J-1 on sr.debts and CP of CSK Holdings; Withdrawn BBB-/Stable and J-2 ratings on Netwing Securities; Assigned preliminary A to shelf registration of Hokkaido Gas; Assigned AAA to bonds of National Life Finance

Oct. 04, 2007: Affirmed AA/Positive on senior debts of Nippon Steel; Assigned A- to bonds of Prospect Residential Investment; Assigned AA to bonds of NTT Finance; Assigned A to bonds of Promise

Oct. 03, 2007: Assigned AAA to bonds of TEPCO; JCR Affirmed A+ for Daiwa Securities Group ; Revised outlook to Positive
JCR Affirmed A+ for Daiwa Securities ; Revised outlook to Positive

Oct. 02, 2007: Upgraded Octave Synthetic CDO Series 2 bonds to AA+ from AA; Affirmed AAA on Octave Synthetic CDO Series 1 Class A-1, A-2 & B; Affirmed A-/Stable and J-1 on sr.debts and CP of Daiichikosho; Assigned BBB+/Stable to senior debts of Sendai Bank; Downgraded Meito Transportation to BBB-/Stable from BBB/Negative

Oct. 01, 2007: Affirmed AA/Positive on senior debts of Nippon Steel; Affirmed AA/Positive on senior debts of Nippon Steel; Affirmed AA/Positive on senior debts of Nippon Steel; Affirmed AA/Positive on senior debts of Nippon Steel; Affirmed AA/Positive on senior debts of Nippon Steel; Affirmed AA/Positive on senior debts of Nippon Steel; JCR Affirmed AA/Stable on sr.debts on Nomura Holdings
JCR Affirmed AA/Stable and AA- on Nomura Securities; Affirmed A+ for Daiwa Securities Group ; Revised outlook to Positive; Affirmed A+ for Daiwa Securities Group ; Revised outlook to Positive; Affirmed A+ for Yamada Denki; Revised outlook to Positive; JCR Affirmed AA and AA- on EMTN of Nomura Bank International; JCR Placed rating on Nomura Global Funding under Credit Monitor Developing; JCR Affirmed AA on Euro Note Programme of Nomura Europe Finance

Sep. 28, 2007: Assigned J-1 to Aso Shoji Bills Receivable ABL07-09; Assigned J-1+ to Teral Kyokuto Bills Receivable ABL07-09; Assigned J-1+ to JUTEC Bills Receivable ABL07-09; Assigned J-1 to Bills Receivable ABL07-09 (A Corporation in Aichi); Assigned J-1 to Hayakawa Rubber Bills Receivable ABL07-09(2); Assigned J-1+ to Nippei Toyama Bills Receivable ABL07-09; Assigned J-1 to Toda Kogyo Bills Receivable ABL07-09; Assigned J-1 to Molten Bills Receivable ABL07-09; Affirmed A-/Stable on sr.debts of Konoike Transportation; Affirmed BBB/Stable on senior debts of Intec Holdings; Affirmed BBB/Stable on senior debts of Intec; Assigned AA-/Stable for SMBC Leasing (Sumitomo Mitsui Finance and Leasing);Upgraded MTN from A+ to AA-; Assigned preliminary A- to shelf registration of Nisshin Oillio; Upgraded sr.debts of Makino Milling Machine to A-; Upgraded sr.debts of Okuma Corporation to A-/Stable from BBB+/Positive; Assigned AA-/Stable to sr.debts of Sumitomo Mitsui Auto Service; Affirmed BBB/Stable on senior debts of Fuji; Withdrawn BBB/Stable rating on senior debts of Zojirushi; Withdrawn BB+/Stable and J-3 on sr.debts and CP of Sun Wave; Affirmed J-1 on CP of Tokyu Land; Assigned preliminary BBB to shelf registration of Suruga; Affirmed A/Stable on sr. debts of Izumi

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