News Release

Feb. 24, 2015

JCR's Opinion on MORI BUILDING's Partial Acquisition of Class 3 Preferred Stock

JCR Assigned BBB Rating to Bonds of Starzen

Feb. 23, 2015

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL15-02 (D Hospital)

[ Asset Securitization Products ] JCR Affirmed J-1 on Medical Fees Receivable ABL Program (H Hospital)

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

JCR Affirmed A-/Stable Long-term Issuer Rating and A- on Bonds for OKAMURA CORPORATION; Assigned Preliminary A- to Shelf Registration

JCR's Opinion on Senshu Ikeda HLD's Capital Policy

Feb. 20, 2015

[ Asset Securitization Products ] JCR Assigned J-1 to Hyakugo Bank B Corporation Bills Receivable ABL15-02

[ Asset Securitization Products ] JCR Assigned J-3 to Narasaki Stax Accounts Receivable ABL15-02

JCR Assigned A Rating to Bonds of Sanwa Holdings

JCR Assigned BBB+ Rating to Bonds of Kintetsu Corporation

JCR Affirmed AA/Stable Long-term Issuer Rating and AA Rating on Bonds of ORIENTAL LAND

JCR Assigned Preliminary A Rating to Shelf Registration of TAKARA HOLDINGS

JCR Assigned AA- Rating to Bonds of Kansai Electric Power

JCR Assigned A- Rating to Bonds of JACCS

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

Feb. 19, 2015

[ Asset Securitization Products ] JCR Assigned Preliminary J-1 to Aso Shoji Bills Receivable ABL15-02

[ Asset Securitization Products ] JCR Assigned J-1 to Medical Fees Receivable ABL15-02 (F Hospital)

JCR Affirmed A-/Stable, A-, Preliminary A- and J-1 on Orient Corporation

JCR Affirmed BBB+ Ratings on ICICI Bank; Revised Outlook to Stable

JCR Affirmed BBB+/Stable Long-term Issuer Rating and BBB Rating on Subordinated Bonds of Daisan Bank

JCR Affirmed AA-/Stable Long-term Issuer Rating and AA- Rating on Bonds of Daiwa Office Investment

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

Feb. 18, 2015

JCR Affirmed A/Stable Long-term Issuer Rating and BBB+ Rating on Subordinated Loan of Yokogawa Electric

JCR Placed Long-term Issuer Rating on Sharp under Credit Monitor #BBB-/Negative

Feb. 17, 2015

[ Asset Securitization Products ]JCR Assigned Preliminary J-1+ to MSNW Trust Certificate Series 15020

[ Asset Securitization Products ] JCR Assigned Preliminary J-1 to Hyakugo Bank B Corporation Bills Receivable ABL15-02

JCR Affirmed AAA/Stable Long-term Issuer Rating, AAA Rating on Bonds and Preliminary AAA Rating on Shelf Registration of NTT DOCOMO

JCR Affirmed AAA/Stable and AAA on Japan Water Agency

JCR Affirmed J-1+ Rating on CP of NTT EAST

JCR Affirmed J-1+ Rating on CP of NTT WEST

JCR Affirmed A/Stable Long-term Issuer Rating and A- Rating on Subordinated Bonds of SBI Sumishin Net Bank

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

JCR Downgraded Long-term Issuer Rating on AEON Financial Service from A+/Stable to A/Stable, from A+ to A on Bonds, from A to A- on Sub.Bonds; Affirmed J-1 Rating on CP

JCR Affirmed A-/Stable Long-term Issuer Rating and J-1 Rating on CP for AEON Housing Loan Service

JCR Downgraded Foreign Currency Long-term Issuer Rating on AEON Thana Sinsap (Thailand) Public Company Limited from A/Stable to A-/Stable

JCR Assigned AA- Rating to Bonds of Tohoku Electric Power

JCR Affirmed A-/Stable Long-term Issuer Rating, A- on Bonds, Preliminary A- on Shelf Registration, and J-1 on CP for Tokyu Fudosan Holdings

JCR Downgraded Long-term Issuer Rating on AEON KYUSHU from A/Stable to A-/Stable; Affirmed J-1 Rating on CP

Feb. 16, 2015

JCR Affirmed A+/Stable Long-term Issuer Rating, A+ Rating on Bonds and J-1 Rating on CP of NH Foods

JCR Affirmed A+/Stable Long-term Issuer Rating and J-1 Rating on CP of Sumitomo Bakelite

Feb. 13, 2015

JCR Affirmed BBB+ (FC/LC) Ratings on India; Revised Outlook to Stable

JCR Affirmed BBB+ (FC/LC) Ratings on IRFC; Revised Outlook to Stable

JCR Affirmed BBB+ Ratings on Export-Import Bank of India; Revised Outlook to Stable

JCR Affirmed AA/Stable, AA and preliminary AA on NEW KANSAI INTERNATIONAL AIRPORT
JCR Affirmed AA/Stable and AA on KANSAI INTERNATIONAL AIRPORT LAND COMPANY

JCR Assigned AAA Rating to Bonds of Aichi Prefecture

JCR Affirmed A/Stable Long-term Issuer Rating, A Rating on Bonds, Preliminary A Rating on Shelf Registration and J-1 Rating on CP of IBJ Leasing

JCR Affirmed A/Stable Long-term Issuer Rating and J-1 Rating on CP of IBJL-TOSHIBA Leasing

Feb. 12, 2015

JCR Placed Long-term Issuer Rating on TOMY under Credit Monitor #BBB/Negative

JCR Affirmed A+/Stable Long-term Issuer Rating on Kyoritsu Women's Educational Institution

Feb. 10, 2015

JCR Affirmed BB-/Stable Long-term Issuer Rating and Ability to Pay Insurance Claims on Asahi Mutual Life Insurance

Feb. 09, 2015

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JCR Assigned Preliminary A Rating to Shelf Registration of SCSK; Affirmed A/Stable and A

JCR Downgraded Rating on Sumitomo Riko from AA-/Stable, AA- and Preliminary AA- to A+/Stable, A+ and Preliminary A+

JCR Affirmed A+/Stable Long-term Issuer Rating on Bank of Nagoya

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

Feb. 06, 2015

JCR Assigned A Rating to Bonds of Japan Rental Housing Investments

JCR Assigned AA Ratings to Bonds of MORI TRUST Sogo Reit

JCR Assigned Preliminary A+ Rating to Shelf Registration of Kenedix Office Investment

JCR's Opinion on SoftBank's Subsidiary Sprint's Recording of Impairment Loss

JCR Assigned A Rating to Bonds of MORI BUILDING

Feb. 05, 2015

Series 50163

JCR Upgraded Long-term Issuer Rating on HEIWA REAL ESTATE REIT from A-/Stable to A/Stable

JCR Upgraded Rating on Sumitomo Osaka Cement from A-/Stable, A-, Preliminary A- to A/Stable, A, Preliminary A; Affirmed J-1 on CP

JCR Assigned AAA Rating to Bonds of Central Nippon Expressway

JCR Assigned AA- Rating to Bonds of Global One Real Estate Investment

JCR's Opinion on 5 Major Oil Distributors' Downward Revision of Earnings Forecasts for FY2014

Feb. 04, 2015

Series 1888

[ Asset Securitization Products ] JCR Affirmed AA and A- on Jupiter Investment Purpose Condominium Loan Backed Beneficial Interests 2013

[ Asset Securitization Products ] JCR Affirmed AA and A- on Sakura Investment Purpose Condominium Loan Securitization Series 1

[ Asset Securitization Products ]JCR Affirmed AAA, BBB and A Rating on MMJ Mortgage Trust II Senior, Mezzanine, Servicer Beneficial Interest and ABL

[ Asset Securitization Products ]JCR Affirmed AAA, BBB and A Rating on MMJ Mortgage Trust II Senior, Mezzanine, Servicer Beneficial Interest and ABL

JCR Assigned AA Rating to Bonds of Urban Renaissance Agency

JCR Affirmed AAA/AAA (FC/LC) Ratings on Norway

Feb. 03, 2015

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JCR Affirmed BBB Rating on JAG Mega Solar Project Bond Trust 1 Beneficial Interest and Trust ABL

JCR's Opinion on Sharp's Downward Revision of Earnings Forecasts for FY Ended March 2015

JCR Upgraded Rating on Nippon Prologis from AA-/Positive, AA- to AA/Stable, AA

JCR Affirmed AA+ Ratings on Hong Kong

Feb. 02, 2015

JCR Affirmed AA/Stable Long-term Issuer Rating and AA Rating on Bonds of Urban Renaissance Agency

Jan. 30, 2015

[ Asset Securitization Products ] JCR Assigned J-1 to Nohara Bills Receivable ABL15-01

[ Asset Securitization Products ] JCR Assigned J-1+ to Teral Bills Receivable ABL15-01

[ Asset Securitization Products ] JCR Assigned J-1 to Toda Kogyo Bills Receivable ABL15-01

JCR Assigned Preliminary AA- Rating to Shelf Registration of Mizuho Bank

JCR Assigned A-/Stable Long-term Issuer Rating to Japan Airlines

JCR Affirmed BBB/Stable Long-term Issuer Rating on Sankyo Tateyama

JCR Affirmed AA+/Stable Long-term Issuer Rating on Seven & i Holdings
JCR Affirmed AA+/Stable Long-term Issuer Rating on Seven-Eleven Japan

JCR Affirmed AA+/Stable Long-term Issuer Rating and J-1+ Short-term Issuer Rating on Japan Trustee Services Bank

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

JCR Upgraded Long-term Issuer Rating on OKAYA from BBB+/Stable to A-/Stable

JCR Affirmed AA+/Stable Long-term Issuer Rating and J-1+ Short-term Issuer Rating on Master Trust Bank of Japan

Jan. 29, 2015

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Series 1501-01J

[ Asset Securitization Products ] JCR Assigned J-1 to Aso Shoji Bills Receivable ABL15-01

JCR Affirmed A/Stable Long-term Issuer Rating on Japan Rental Housing Investments

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

JCR Affirmed AA/Stable Long-term Issuer Rating and AA Rating on Bonds for MORI TRUST Sogo Reit

JCR Assigned A+ Rating to Bonds of Sumitomo Realty & Development

Jan. 28, 2015

JCR Assigned A- Rating to Bonds of DIC

JCR Affirmed BBB-/Stable Long-term Issuer Rating on Harima-Kyowa