News Release

Apr. 30, 2026

JCR Affirmed A/Negative and J-1 on SoftBank GroupNEW

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

JCR Affirmed AA+/Stable Long-term Issuer Rating on BRIDGESTONENEW

JCR Affirmed AA/Stable Long-term Issuer Rating on Shoko Chukin BankNEW

JCR Affirmed AA-/Stable and J-1+ on JAPAN SECURITIES FINANCENEW

JCR Affirmed AA-/Stable and J-1+ on JSF Trust and BankingNEW

JCR Assigned Preliminary BBB+ Rating to Preferred Shares of Japan AirlinesNEW

JCR Assigned Preliminary BBB+ Rating to Shelf Registration of Premium Water HDNEW

JCR Assigned Preliminary A Rating to Shelf Registration of Resonac HDNEW

[ Asset Securitization Products ] JCR Assigned Preliminary A to Senior Beneficial Interest 7931601 Series 11NEW

JCR Assigned AA- to Ascent Finance Limited Series 2026-1015NEW

JACCS, The Bank of Yokohama: Second Opinion on Positive Impact FinanceNEW

Kumagai Kensetsu Kogyo, Aomori Michinoku Bank: Second Opinion on Positive Impact FinanceNEW

Sigehiro, THE KYOTO CHUO SHINKIN BANK: Second Opinion on Positive Impact FinanceNEW

EXCEED, The Tama Shinkin Bank: Second Opinion on Positive Impact FinanceNEW

Apr. 28, 2026

ORIX to Transfer Its Bank Subsidiary - Limited Impact on the Rating

Daiwa Securities Group to Acquire ORIX Bank as a Wholly Owned Subsidiary - No Immediate Impact on the Rating, Progress in Capital Recovery to Be Watched

JCR Affirmed BBB+/Stable Long-term Issuer Rating on Sanyo Electric Railway

JCR Affirmed AA/Stable Long-term Issuer Rating on Kenedix

JCR Downgraded Rating on SPIRE SA Series 2025-50 to A-

The Chugoku Electric Power: Reviewed Sustainable Finance Framework Evaluation: Green 1(T)(F)

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

Marusen Cleaning, The Hokkaido Bank: Second Opinion on Positive Impact Finance

Apr. 27, 2026

JCR Assigned AA-/Stable Long-term Issuer Rating to KINDEN

JCR Affirmed A/Stable Long-term Issuer Rating on SHIZUOKA CHUO BANK

JCR Assigned Preliminary AA Rating to Shelf Registration of ASAHI KASEI

JCR Affirmed AA- on Sumitomo Mitsui Trust Bank Trust ABL/Trust Bond/Beneficial Interest Programs

JCR Affirmed AA- on Sumitomo Mitsui Trust Bank (Revolving Facility (Uncommitted)) Athene Trust ABL Program

Apr. 24, 2026

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

JCR Affirmed A-/Stable Long-term Issuer Rating on Kintetsu Group HD

JCR Affirmed AA-/Stable Long-term Issuer Rating on Kokushikan

JCR Affirmed A+/Stable (FC/LC) on Portugal

JCR Affirmed AA-/Stable Long-term Issuer Rating on LJPFGK

JCR Assigned A- Rating to Bonds of SKYLARK HD

JCR Assigned A+ Rating to Bonds of HIKARI TSUSHIN

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

JCR Assigned Preliminary AA Rating to Shelf Registration of Resona HD

Apr. 23, 2026

JCR Upgraded Long-term Issuer Rating on TOTTORI BANK to BBB+/Stable

JCR Affirmed BBB/Stable Long-term Issuer Rating on BANK OF KOCHI

Apr. 22, 2026

Nojima to Acquire Shares of a New Company in Home Appliance Business to Be Established by Hitachi GLS - No Immediate Impact on the Rating, Impacts on Future Business Results and Finances Will Be Closely Watched

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

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

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

JCR Affirmed AA+/Stable Long-term Issuer Rating on Nippon Building Fund

JCR Affirmed A- on Ecology Trust Bond 1st Series Fund Trust Bonds and Trust ABL

JCR Affirmed A- on Ecology Trust Bond 2nd Series Fund Trust Bonds and Trust ABL

JCR Affirmed A- on Ecology Trust Bond 3rd Series Fund Trust Bonds and Trust ABL

JCR Affirmed A- on Ecology Trust Bond Ga 4th Series Fund Trust Bonds and Trust ABL

JCR Assigned AA to Bonds of SPIRE SA Series 2026-284

Apr. 21, 2026

JCR Affirmed AA-/Stable and J-1+ on NIPPON SANSO HD

JCR Affirmed A-/Stable Long-term Issuer Rating on Ehime Bank

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

JCR Assigned AA Rating to Bonds of Kyushu Electric Power

JCR Assigned J-3 to Narasaki Stax Accounts Receivable ABL 26-04

JCR Affirmed AA on Securitization of Loans Receivable 202203

Saikaku, THE KYOTO CHUO SHINKIN BANK: Second Opinion on Positive Impact Finance

Apr. 20, 2026

JCR Assigned A/Stable Long-term Issuer Rating to LOGISTEED Holdings and affirmed A/Stable Issuer Rating on LIGISTEED

JCR Upgraded Long-term Issuer Rating on Takasago Thermal Engineering to A+/Stable; Affirmed J-1 on CP

JCR Affirmed A- and J-1 on SAPPORO HD; Revised Outlook to Positive

JCR Affirmed J-1 Rating on CP of TOKAI HD

JCR Affirmed AA+/Stable Long-term Issuer Rating on JAPAN TOBACCO

JCR Affirmed AA/Stable Long-term Issuer Rating on Japan Freight Railway

Japan: Post-Issuance Verification Report for CBI Certification of Japan Climate Transition Bond (1st)

Apr. 17, 2026

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

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

JCR Assigned AA Rating to Bonds of Kyushu Electric Power

JCR Assigned A Rating to Bonds of SEIBU HD

JCR Assigned AA+ Rating to Bonds of Electric Power Development

JCR Assigned AA Rating to Bonds of Tokyo Waterfront Area Rapid Transit

JCR Assigned AA Rating to Bonds of Sumitomo Mitsui Banking Corporation

JCR Assigned AA- Rating to Bonds (Tier 2 with loss absorption clause) of Yokohama Financial Group

JCR Withdraws A- Long-term Issuer Rating on RYODEN

Apr. 16, 2026

JCR Affirmed AA/Stable Long-term Issuer Rating on Gravity AH

JCR Assigned BBB+ Rating to Bonds of GENDA

JCR Assigned AA+ Rating to Bonds of JAPAN POST HD

JCR Assigned AAA Rating to Bonds of East Nippon Expressway

JCR Assigned AA (fp) Fund Portfolio Rating to GOUDOUKINSHIN (Fund No. 550255000)

Apr. 15, 2026

INFRONEER HD Announces Share Acquisition of Swing Corporation, a Leading Water Treatment Engineering Company - No Immediate Impact on Rating. Watch the Future Financial Leverage

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

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

JCR Affirmed AA-/Stable Long-term Issuer Rating on Maruichi Steel Tube

JCR Affirmed AA-/Stable FC Long-term Issuer Rating on KKR & Co.

JCR Assigned A Rating to Bonds of TEPCO Power Grid

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

Apr. 14, 2026

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

JCR Affirmed AA-/Stable Long-term Issuer Rating on SEINO HD

JCR Affirmed A/Stable Long-term Issuer Rating on SENKO Group HD

JCR Assigned Preliminary AA Rating to Shelf Registration of Mizuho Bank

JCR Assigned A+ to SPIRE SA Series 2026-262

Apr. 13, 2026

JCR Affirmed BBB+ and J-2 on MARUDAI FOOD; Revised Outlook to Positive

JCR Affirmed BBB/Negative Long-term Issuer Rating on YOROZU

JCR Affirmed A-/Stable (FC/LC) on Lotte Capital

VALOR HOLDINGS, The Norinchukin Bank: Second Opinion on Positive Impact Finance (Review)

Apr. 10, 2026

JCR Assigned AA-/Stable FC Long-term Issuer Rating to SMFG India Home Finance

JCR Affirmed AAA/Stable Long-term Issuer Rating on TOYOTA MOTOR

JCR Affirmed AAA/Stable Long-term Issuer Rating on TOYOTA FINANCE

JCR Affirmed AA/Stable Long-term Issuer Rating on 77 Bank

JCR Assigned BBB+ Rating to Subordinated Bonds of SoftBank Group

JCR Assigned AA- Rating to Bonds of MORI BUILDING

JCR Assigned AA Rating to Bonds of NISSIN FOODS HD